QuickBooks Online - Advanced Training

This training builds on the key concepts covered in the QuickBooks Online product training. We’ll cover how to leverage the more advanced functionality within QuickBooks Online: automated tax systems, advanced reporting and troubleshooting complex issues for your clients.

MODULE 1: Advanced Categorization

This group of lessons covers advanced categorization options to optimize reports such as Class, Location, and Job tracking. Explore the benefits of each categorization method and how to enable or set up these options. Find out what you need to consider when tracking options are enabled.

Learning Objectives: 

• Using advanced categorization to optimize reports in QuickBooks Online
• Setting up and optimizing Class tracking and related reports in QuickBooks Online
• Setting up and optimizing Location tracking and related reports in QuickBooks Online
• Optimizing and configuring Job tracking and related reports in QuickBooks Online
• Setting up projects and using QuickBooks Online Projects functionality with current sub-customers

MODULE 2: Advanced Features

This group of lessons covers the more advanced features available in QuickBooks Online. Find out how to work with billable expenses and billable time, or how budgets work in QuickBooks Online. Discover how to use delayed charges, progress invoicing, and price rules.

Learning Objectives:

• Activating billable expenses
• Using billable expenses for invoicing and tracking
• Using QuickBooks Online to set up, record, and invoice billable time
• Running time reports
• Creating and using delayed charges and credits
• Viewing unbilled charges
• Using progress invoicing in QuickBooks Online 
• Using price rules in QuickBooks Online
• Creating budgets in QuickBooks Online
• How budgets and budget reports work in QuickBooks Online

MODULE 3: Advanced Banking

These lessons cover using advanced banking features and troubleshooting banking issues. Discover more about bank rules and how to import or export them and how suggested rules work. Find out how to solve problems with bank feed matches, beginning balances, and reconciled transactions.

Learning Objectives:

• Investigating problems with bank activity in QuickBooks Online
• Troubleshooting problems with bank feeds
• Working with bank rules in QuickBooks Online 
• How the Suggested rules feature in QuickBooks Online works
• Solving common client problems with Suggested rules, category suggestions, and bank feeds
• How to import/export bank rules into QuickBooks Online
• Recognizing when and why a reconciliation’s beginning balance may need correcting
• Correcting reconciled and unreconciled transactions in QuickBooks Online

MODULE 4: Advanced Reports

This training looks at how to use advanced report features in QuickBooks Online to highlight key areas of clients’ company performance. Explore the different report types and the benefits of tagging in QuickBooks Online in more depth. Find out how to create scheduled reports and how to use the Performance Center.

Learning Objectives:

• How reports work in QuickBooks Online - and how to utilize them
• Creating scheduled reports in QuickBooks Online
• Using the Performance Center to create meaningful commercial insight
• Maximizing the value of custom charts in the Performance Center
• Uses and limitations of tagging in QuickBooks Online
• Using tags in QuickBooks Online

MODULE 5: Inventory Management

These lessons are all about inventory management. Find out how to enable inventory tracking and set up new products and categories in QuickBooks Online. Discover what to do when buying or selling items and how to adjust inventory for damaged or donated goods.

Learning Objectives:

• The role of inventory management in QuickBooks Online
• Enabling inventory tracking in QuickBooks Online
• Setting up new inventory products and categories 
• Buying, selling, and adjusting inventory 
• Adjusting for donated inventory in QuickBooks Online

MODULE 6: Sales Tax

This training covers various advanced sales tax activities. Discover how QuickBooks Online records, tracks, and calculates sales tax. Explore how to set up tax agencies and custom sales tax, and file sales tax forms. Find out what to do to correct a payment error or make an adjustment on a sales tax return.

Learning Objectives:

• How sales tax is calculated in QuickBooks Online
• Setting up and using sales tax in QuickBooks Online
• Filing sales tax successfully in QuickBooks Online
• Adjusting sales tax in QuickBooks Online

MODULE 7: Special Transactions

This training covers a range of advanced methods of recording transactions in QuickBooks Online. Discover how to use templates for recurring transactions and daily sales summaries. Find out about handling zero dollar transactions and customer or vendor retainers and what to do when a payment fails.

Learning Objectives:

• When recurring transactions can be used and using templates for recurring transactions
• Setting up a daily sales summary in QuickBooks Online
• Creating zero dollar expenses in QuickBooks Online
• Handling failed payments or insufficient funds in QuickBooks Online
• Handling customer retainers in QuickBooks Online
• Customizing reports that show open customer retainers
• Handling vendor prepayments and deposits in QuickBooks Online
• Running reports that show uncleared vendor prepayments

MODULE 8: End-of-period activities

These lessons cover a range of end-of-period activities. Find out more about reviewing lists and account balances or troubleshooting issues with inventory balances and undeposited funds. Discover more about tools such as Writing off invoices, Prep for taxes, and Reclassify transactions. Explore how to prepare Forms 1099 and identify changes to closed periods.

Learning Objectives:

• Reviewing and troubleshooting QuickBooks Online lists
• Troubleshooting accounts on the balance sheet
• Troubleshooting Profit and Loss account balances
• Troubleshooting issues with undeposited funds
• Using the Write off invoices tool in QuickBooks Online Accountant
• Troubleshooting inventory balance issues in QuickBooks Online
• Reclassifying transactions in QuickBooks Online Accountant
• Using the Prep for taxes tool to prepare a client's tax forms for submission
• Preparing and filing Forms 1099-NEC and 1099-MISC in QuickBooks Online
• Closing the books in QuickBooks Online—and identifying any changes to closed periods 

MODULE 9: Complex Conversion

This training is about helping clients migrate their company data into QuickBooks Online. Find out how to convert an account from QuickBooks Desktop to QuickBooks Online and what to do to import lists and accounts. Explore the process of entering beginning balances to start a new QuickBooks Online company from scratch.

Learning Objectives:

• Converting an account from QuickBooks Desktop to QuickBooks Online
• Importing lists and data into a QuickBooks Online company
• Starting a new QuickBooks Online company by entering beginning balances

Course Length: 10.5 hrs