QuickBooks Online – Bank Feeds & Credit Card Feeds

QuickBooks Online – Bank Feeds & Credit Card Feeds

QuickBooks Online – Bank Feeds & Credit Card Feeds

Learn bank feeds and how to use them from a practicing CPA (certified public accountant)

Language: english

Note: 4.7/5 (30 notes) 16,193 students

Instructor(s): Robert (Bob) Steele

Last update: 2020-01-22

What you’ll learn

  • How to set up bank feeds for both bank accounts and credit card accounts
  • How to set up QuickBooks Online and get up and running
  • How to add transactions and assign proper general ledger accounts to them
  • How to do bank reconciliations
  • Understand the difference between a bank reconciliation when using a cash basis and accrual basis
  • Generate reports and analyze reports after data has been entered using bank feeds
  • Record transactions from two accounts that use bank feeds like a credit card account and a bank account
  • How to create different kinds of bank feed rules to make data input even faster

 

Requirements

  • None

 

Description

This course will jump right into bank feeds and how to use them.

Most QuickBooks courses will spend a lot of time talking about how a full-service accounting system works using QuickBooks. We do recommend spending time learning the full accounting process, and we do have a course that does this.

However, many small businesses want to get right down to data input as fast as possible, and others already have a good understanding of the system and want to focus specifically on bank feeds.

This course will do just that.

For example, some small businesses may be perfectly happy using a cash basis system and will, therefore, not need some of the functions used in a full accounting cycle. Businesses that use a cash basis model can structure their data input to be much more heavily dependent on the bank and bank feed data.

We will discuss types of businesses that fit well into a cash basis model as we work through the practice problems. We will also discuss some problem areas many businesses have and how to set up a system that works.

This course will work through a practice problem and will provide test data that learners can use in their system to follow along if they choose.

One obstacle to learning bank feeds is access to a clean QuickBooks file to practice with. Here are some options you can use along with this course:

Intuit (the owner of QuickBooks) provides a free test drive available to anybody. You can find it by searching in your favorite browser (QuickBooks Test Drive).

Intuit often provides (almost always) a 30 day discount period. You can use the 30 days to practice by starting the 30-day trial, practicing with the data we provide in the course, and then canceling after the 30 days.

Intuit also provides discounts or a free version for students and educators.

Check with your accountant or CPA firm, and they may be able to provide a discount on QuickBooks Online

 

Who this course is for

  • Business owners who want an easy system to track data
  • Bookkeepers who want to understand how bank feeds work
  • Students who want to apply theory to practical accounting software

 

Course content

  • Introduction
    • Overview
    • Documents To Download
    • 315 How Do Bank Feeds Fit Into My Accounting System
  • Getting Set Up
    • 2 Getting Set Up
    • .05 Recommendations For Success
    • .10 Purchase With 30 Day Trial
    • 320 Project Outline
  • Month One – Set up Bank Feeds
    • 3 Month One – Set up Bank Feeds
    • 325 Set Up Bank Feeds
    • 360 Download Transactions From Bank
    • 365 Import Bank Data
  • Month One – Add Transactions from Bank Feeds
    • 4 Add Transactions from Bank Feeds
    • 370 Add Expense transactions
    • 375 Add Capital Expenditures
    • 380 Add Inventory Purchase
    • 385 Add Amount Paid for Investment
    • 390 Add Owner Withdraws
    • 395 Add Bank Service Charge
    • 395 Add Customer Deposits
    • 400 Sales Tax
    • 405 1 Deposit Owner
    • 405 Deposit Loan
  • Month One – Bank Reconciliation
    • 5 Month One – Bank Reconciliation
    • 407 Bank Reconciliation
  • Month One – Compare Cash basis to Accrual Basis Using Bank Feeds
    • 6 Month One – Compare Cash basis to Accrual Basis Using Bank Feeds
    • 410 Compare Cash to Accrual
  • Month Two – Upload Bank Transactions
    • 7 Month Two – Upload Bank Transactions
    • 415 Upload Bank Transactions
  • Month Two – Add Transactions from Bank Feeds
    • 8 Month Two – Add Transactions from Bank Feeds
    • 420 Add Expenses
    • 420 Add Insurance
    • 425 Add Payroll Checks
    • 430 Add Inventory
    • 430 Add Loan Payments
    • 435 Add Draw
    • 440 Invoice & Bank Feeds
    • 440 Receive Payments & Bank Feeds
    • 445 Sales Receipt & Bank Feeds
  • Month Two – Bank Reconciliation
    • 9 Month Two – Bank Reconciliation
    • 450 Bank Reconciliation
  • Month Two – Analyze Reports
    • 10 Month Two – Analyze Reports
    • 455 Reports After Second Month
  • Credit Card Bank Feeds
    • 11 Credit Card Bank Feeds
    • 460 Credit Card Bank Feeds Upload
    • 465 Add Credit Card Bank Feed Data
    • 470 Reconcile Credit Card
  • Bank Feed Rules
    • 12 Bank Feed Rules
    • 470 Upload Bank Transactions
    • 475 Bank Rules Deposit Same Customer Different Account
    • 480 Bank Rules Amount Limit
    • 485 Bank Rules Split Into Two Accounts
    • 490 Bank Rules One Vendor Two Expense Accounts
    • 495 Bank Rules More Rules & Techniques

 

QuickBooks Online – Bank Feeds & Credit Card FeedsQuickBooks Online – Bank Feeds & Credit Card Feeds

Time remaining or 924 enrolls left

 

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