Notice: System maintenance is scheduled for Saturday, April 20th from 4:30 AM to 8:30 AM CDT. The system will be unavailable during this time, please plan accordingly.
by Williams, Johnson
| ISBN: 978-1-61853-325-8 | Copyright 2020
This book gives students an introduction to QuickBooks Online (QBO) that focuses not only on the software mechanics, but also on the basic accounting concepts that underlie all accounting systems. This book is not meant to be a user manual. Students will come away from this book with an understanding that it is their knowledge of the principles of accounting, not their data-entry skills, that is needed to be successful in business.
This 2019 update features the latest updates to QuickBooks Online.
This book is primarily intended for use in undergraduate accounting programs, although it could be used in business or computer information programs as well. It is expected that students taking this course have already successfully completed a course in financial accounting and have a firm understanding of the basic principles of accounting.
Each new copy of this book includes a full year of access to QuickBooks Online Plus. Students should refer to the insert at the front of the book, which contains instructions on accessing the complimentary cloud-based software.
With QuickBooks Online, students use their Internet browser to use the software—no installation required—and it can be used on any device with Internet access. (A high-speed Internet connection is recommended, such as DSL or cable modem. For more information go to https://community.intuit.com/articles/1145516-system-requirements-for-quickbooks-online and type in System Requirements in the search field.)
The book is designed in such a way that the accounting concepts, as well as the software mechanics, get more complex with each section. Other books focus primarily on software data entry. This book allows the students to see why events are recorded the way they are in a computerized accounting system while refreshing students’ knowledge of accounting concepts and reinforcing the accounting and journal entries behind transactions.
• Section One—Introduction
■ The first chapter introduces students to the basic structure of QuickBooks Online Plus (QBO).
■ In the second chapter, the process of creating new company files is covered.
• Section Two—Service Companies
■ The next three chapters (Chapters 3, 4, and 5) cover the sales, purchase, and end-of month cycles in a service company.
■ Students are introduced to accounting for basic transactions in a computerized environment.
• Section Three—Merchandising Companies
■ The section introduction includes a description of internal controls in QBO.
■ Chapters 6, 7, and 8 cover the sales, purchase, and end-of-month cycles in a merchandising company.
■ Students are introduced to accounting for more complex transactions in a computerized environment.
• Section Four—Beyond the Basics
■ Chapter 9 covers billing for time and expenses.
• Section Five—Paying Employees
■ Chapter 10 covers budgeting and segment reporting.
■ Chapter 11 covers a number of special tools in QBO.
■ Chapter 12 covers basic payroll functions that would be used in all types of companies (service, merchandising, and manufacturing).
The book is written clearly to aid student understanding of difficult concepts. Clear explanations of why certain procedures are used in QuickBooks Online (QBO) are supported by relevant examples and relatable end-of-chapter assignments, serving to bridge the gap between computerized accounting concepts and real-world application.
Most computerized accounting textbooks on the market approach the teaching of QuickBooks in a prescriptive manner, going through the procedures of the software while overlooking how an accountant would actually utilize the software in the real world. The book takes a practical approach and shows the student how the software is used in a business environment. In addition to the standard financial reports, students are exposed to job, segment, and variance reports.
The book’s four-color format facilitates student understanding and draws attention to the key concepts and pedagogy. Ample screenshots provide students realistic snapshots of what they will see when working in the software. A host of pedagogical elements serve as helpful illustrations, providing additional context and further concept reinforcement.
HINT boxes appear throughout to provide helpful quick tips and tricks for working more efficiently in QBO.
WARNING boxes highlight common technical pitfalls to avoid.
BEHIND THE SCENES Boxes
BEHIND THE SCENES boxes provide additional context in support of the accounting that is going on inside the computer.
When students are learning accounting application software, it’s natural for them to focus on the software mechanics and forget that they’re taking an accounting course. To help put some of their focus back on accounting, students are periodically asked a question related to material covered in the chapter. The questions are intended to remind them, either directly or indirectly, of underlying accounting concepts. The answers are included at the end of each chapter.
Appearing in red, bold font in the first instance, key terms are defined for the student in the margins of the text for a quick refresher. A comprehensive glossary is included in the back of the book.
Practice Exercises are included at the end of every section in the first ten chapters. The exercises provide students an immediate opportunity to practice the material they just learned and prepare them for completing the chapter assignments. The exercises use the QBO test drive company, a fictional company called Craig’s Landscaping and Design set up by Intuit.
The Practice Exercises can be done in class, with the instructor, or can be done by the students, on their own, as part of the lab component of a face-to-face course or in online courses. Check figures are included with the exercises to reassure students that they are recording the transactions accurately.
End-of-chapter review material includes:
• Chapter shortcuts.
• Chapter review with matching of terms to definitions and multiple choice questions that are a combination of accounting concepts and QuickBooks application questions.
• A choice of two end-of-chapter assignments featuring fictional companies that move from selling service exclusively in the early chapters to selling both services and products in the later chapters.
The assignments include check numbers for students. This allows them to focus on the process and reduces student frustration.
There are a number of additional topics that are helpful to students as they master QBO, and these have been included as end-of-chapter and end-of-book appendices. Instructors may wish to cover these topics in class or have students go over them on their own time.
Students often have a difficult time seeing any similarities between computerized accounting systems and the more manual systems they saw in their introductory financial accounting classes (the journal entries, T-accounts, and general ledgers). To help students connect the two, Appendix A (Is Computerized Accounting Really the Same as Manual Accounting?) is an accounting refresher that compares manual and computerized accounting and provides examples of how journal entries, journals, T-accounts, and trial balances show up in QBO. It also covers cash versus accrual accounting.
The book has been mapped to the 10 domains that comprise the exam objectives for the QuickBooks Certified User Exam.
What Is the QuickBooks Certified User Exam?
The Intuit® QuickBooks Certification exam is an online exam that is proctored at Certiport Authorized Testing Centers. The certification program validates QuickBooks accounting skills while providing students with credentials that demonstrate real-world abilities to prospective employers. Once passed, test takers receive an official digital certificate representing their skills in QuickBooks. A map correlating the chapter content to the Certiport domains is available to students so they can streamline their exam preparation.
myBusinessCourse is a complete, secure, web-based training and e-Learning solution. There is nothing to download or install; it is accessible through any modern web browser and most mobile devices.