What you’ll learn
How to track personal bookkeeping, financial data, & tax information using QuickBooks
How to create and analyze personal financial statements from QuickBooks including a balance sheet and income statement or profit and loss
How to set up a personal QuickBooks file and enter the chart of accounts
How to enter personal data into QuickBooks, setting up new accounts as is needed, using a personal bank statement
How to track business financial data in a separate QuickBooks file and record intercompany transactions, those between a personal account and a business account
How to track and record personal investment data using QuickBooks
Hot to track personal home valuation using QuickBooks
How to record home loan balance and related payments of both interest and prinipal
How to enter W-2 wages into personal QuickBooks files, breaking out gross pay and withholding amounts
How to enter and track personal credit card payments and balances using QuickBooks
How to track auto valuation using QuickBooks
Methods for tracking prepaid amounts such as insurance using QuickBooks
It would be best to have QuickBooks Desktop although this is not a requirement and many of the concepts will be applicable to QuickBooks Online and other accounting software.
QuickBooks for personal bookkeeping, finance, and accounting. Enter personal financial data, create and analyze financial statements including personal balance sheet and income statements or profit & loss statement, & track important tax data.
The course will provide backup files that can be used to jump forward or to rework any component of the course. Backup files and the ability to use multiple QuickBooks files, in a similar way we use multiple Microsoft Word documents, is a HUGE benefit to learning QuickBooks and accounting that QuickBooks Desktop offers us. If our goal is to learn accounting concepts, bookkeeping, and or data input, we should take advantage of the use of backup files to improve our skills and gain new ones.
We will set up a new QuickBooks file explicitly designed for personal data entry and tracking, including a personalized chart of accounts.
The course will provide examples and practice problems to enter personal data into QuickBooks using a bank statement. We will provide example bank statements in PDF format that can be used to work the problem step by step along with instructional videos.
We will enter credit card data into QuickBooks from credit card statements. The course will provide PDF files of credit card statements.
The course will also set up a small QuickBooks business file as a comparison to the personal file, and to show how to account for intercompany or inter-QuickBooks file transactions. In other words, we will track transactions between the business and personal checking accounts in both the individual and business QuickBooks files.
We will track and record personal investments into QuickBooks, discussing various options and their pros and cons.
The course will discuss how to record and track home valuation in QuickBooks, as well as the tracking of home loans and the recording of payments that include both interest and principal.
We will cover the entering of W-2 wages into a personal QuickBooks file and the various methods we can use including breaking out the gross pay and the withholding amounts.
The course will discuss various methods for tracking and recording credit card payments and balances.
We will also discuss how to record and track the valuation of an automobile and how to enter and track prepayments like prepaid insurance
Who this course is for:
- Anybody who wants to track personal financial data
- Anybody who wants to organize tax data
- Anybody who want to create personal budgets and financial plans
- Anybody who want to understand their personal financial position better and how to create and analyze personal financial statements, including a balance sheet and income statement