QuickBooks Enterprise-Classes-Responsibility Accounting

QuickBooks Enterprise-Classes-Responsibility Accounting

QuickBooks Enterprise-Classes-Responsibility Accounting

Learn responsibility accounting using class tracking for both the balance sheet and profit and loss from a CPA

Language: english

Note: 4.8/5 (34 notes) 16,903 students

Instructor(s): Robert (Bob) Steele

Last update: 2020-12-31

What you’ll learn

  • How to download the free version of QuickBooks Enterprise
  • How to turn on class tracking for both the balance sheet and profit and loss
  • The differences between the class tracking feature for the QuickBooks Pro version and the QuickBooks Enterprise version
  • How to record direct costs to departments using class tracking
  • Methods for allocating indirect costs
  • Methods for allocating service center expenses to revenue centers
  • How to make adjusting entries related to a balance sheet by class report
  • How to generate and analyze a profit and loss by class report
  • How to generate and analyze a balance sheet by class

 

Requirements

  • None

 

Description

This course is a project-based course using the free trial version of QuickBooks Enterprise, practicing the feature of class tracking for both the balance sheet and profit and loss, the class tracking feature applied to responsibility accounting.

We will learn how to download the free trial version of QuickBooks Enterprise and set up a new company file to work in.

The course will show how to turn on the class tracking feature and discuss the differences between class tracking for the QuickBooks Pro version of the software and the QuickBooks Enterprise version.

We will record expenses by department using the class tracing feature and learn how to allocate indirect expenses.

The course will then demonstrate how to allocate service center expenses to revenue centers.

We will also consider adjustments to the balance sheet as we generate balance sheet reports by class.

 

Who this course is for

  • Accounting students
  • Accounting professionals
  • Bookkeepers

 

Course content

  • Overview
    • 1100 Free Trial Version Download
    • 1105 Class Tracking Responsibility Accounting Overview
    • 1110 Class Tracking Responsibility Accounting Add Classes
  • Payroll & Expenses by Department
    • 1115 Setup Manual Payroll & Add Employees
    • 1120 Process Payroll & Allocate to Departments
    • 1125 Expenses by Department
  • Allocate Indirect Expenses
    • 1130 Allocate Indirect Expense to Departments – Excel
    • 1135 Allocate Indirect Expenses to Departments – QB
  • Allocate Service Center Expenses to Revenue Center
    • 1140 Allocate Service Center Expenses to Revenue Centers – Excel
    • 1145 Allocate Service Center Expenses to Revenue Centers – Method 1
    • 1145 Allocate Service Center Expenses to Revenue Centers – Method 2
  • Balance Sheet by Class Adjusting Entries
    • 1150 Balance Sheet by Class Adjusting Entries

 

QuickBooks Enterprise-Classes-Responsibility AccountingQuickBooks Enterprise-Classes-Responsibility Accounting

Time remaining or 940 enrolls left

 

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