Gain a solid understanding of bookkeeping fundamentals and learn how to efficiently manage your business's financial data using QuickBooks Online. This course provides a comprehensive overview of bookkeeping basics, emphasizing its importance in maintaining accurate records and facilitating informed decision-making. You will discover a simplified six-step approach to bookkeeping, covering the gathering of source documents, categorization of transactions into key categories (assets, liabilities, equity, revenue, and expenses), reconciliation of transactions, preparation of essential financial statements (Balance Sheet, Profit and Loss, Cash Flow Statement), and the interpretation of financial statements.

Furthermore, you will explore practical bookkeeping workflows designed to streamline your daily, weekly, monthly, quarterly, and annual tasks within QuickBooks Online. From checking cash positions and recording transactions to processing payroll (optional), reviewing projections, analyzing inventory, and managing tax obligations, this course equips you with the necessary skills to effectively organize and maintain your financial records.

Additionally, you will receive valuable tips, including best practices for processing payroll on various frequencies such as weekly, bi-weekly, monthly, or semi-monthly cycles.