Quickbooks Bookkeeping System
This video course teaches you a QuickBooks Bookkeeping System.
The difference between this bookkeeping system and regular QuickBooks educational materials is that this system is showing you how to do bookkeeping using QuickBooks, rather than simply how to use QuickBooks.
This is an important difference, since to do your bookkeeping using QuickBooks properly, you’ll need to learn how to collect all your documents, organize them, enter them in the correct order into QuickBooks, and file them. This is all to get what you want, which are your financial reports.
What’s included in the QuickBooks Bookkeeping System Course and Training Videos?
- 33 videos
- A 9,000+ word pdf manual that you digitally download
- A flow chart taking you through the six bookkeeping steps you need to do to get your bookkeeping done in QuickBooks
- A customizable bookkeeping tasks checklist
Get Started with the QuickBooks Bookkeeping System
Click the payment button below to sign up for the course for $47.
Once you make a payment via PayPal you will be forwarded back to the smallbusinessdoer.com site to register a username and password for the course so that you can sign in and begin to learn!
Preview the Course
All right, so you may want to know what exactly is the course like. Below you can see the first 6 sections of the course for free.
All right, here’s what this course covers:
- 1. How to use the Course
- 2. Course Downloads
- 3. Why You Need a Bookkeeping System
- 4. Getting Started
- 5. The Flow Chart
- 6. Step 1 – gather documents
- 7. Step 2 – sort into folders
- 8. Step 3 – enter into QuickBooks
- 9. Step 4 – reconcile and correct
- 10. Step 5 – reports and filings
- 11. Step 6 – store and backup
- 12. Making and using a Checklist
- 13. Modifying the bookkeeping system
- 14. Tips
- 15. Feedback
1. How to Use the Course
Everything is in video form
Every topic covered is done in video form, so you can simply watch all the videos as opposed to reading. I personally like to skim writing, so I made sure to include in writing everything that was talked about in the videos.
The one thing that the videos have over the written word is screen shots and visual examples, so it’s worth watching.
Highly recommend full screening the videos
Since there’s a lot of detail in QuickBooks, you’re best to full screen the video once you press play. It is the button on the bottom right corner of the video.
To get out of full screen mode, you press the esc button.
If you’re trying to go back or forth in the video, it is best to pause the video first and then move the cursor to the time you want to go to (then press play).
The flow chart is key!
The basis of the whole course is the flow chart. This whole course really is designed so that you’d be able to put the flow chart up on your wall, on your desk, or up on your monitor as you do your books. You don’t need to understand the flow chart at the start of this course, that’s why there’s a video talking about each step in the flow chart. You can download the flow chart from the Course Downloads section.
Navigating the Course
Since the course is one long web page, you may be doing a lot of scrolling if you have to go up and down searching for things. Two tips:
- The very top of this web page has a course outline, so you can click directly on the links to take you to the section you want to. Also, at the top of each section, there’s a button you can press that will take you to the top of the page again.
- On your keyboard, you can use CTRL+F (windows) Command+F (Mac) to open up a search box where you can type in any term you’re searching for and it’ll take you to each instance of where the word(s) appear. You can also use this in most computer programs, not only your web browser.
2. Course Downloads
Here are all the docs that you can use to help you follow along and execute the teachings of this course. For the PDF’s, you may want to right-click (command-click) to download.
- Organizing, Entering, and Filing your Bookkeeping Documents in Quickbooks Course (PDF) – The whole course in a written PDF format, with no videos, something that you can keep on your computer or print out.
- Flow Chart
- Checklist and Important Dates Spreadsheets (Excel)
Note that the videos are not downloadable. Right now I’m not offering this since the files are quite large (since I wanted you to be able to fullscreen the videos).
3. Why You Need a Bookkeeping System
The best way to keep your financials organized is to make sure your bookkeeping is entered in a timely and consistent way. That’s where a bookkeeping system comes in handy.
As easy as QuickBooks software is, because it needs to appeal to so many users, it can seem quite overwhelming to many. Combine this with the fact that there is more than one way to do bookkeeping and more than one way to enter transactions into QuickBooks, it can get quite confusing on how to do things properly.
The bookkeeping system I present is simply one way of doing things. After working with QuickBooks for over 10 years, I find this system makes the whole process a lot easier because it allows me to be consistent and it lowers the chance of errors.
This guide will walk you through collecting, organizing, entering, and filing all your bookkeeping documents using QuickBooks.
Doing this correctly will allow you to get what you really want, which are the financial reports. Knowing your numbers is so important to business but often doesn’t get paid attention to until there are problems. Financial reports need to be timely and accurate, and this bookkeeping system will help you be both.
So, how exactly can this bookkeeping system help me?
Here’s the problem. A lot of people pile all their bookkeeping documents into, well, a pile, and then start entering those documents into QuickBooks.
This is an inefficient and error-filled way of using QuickBooks. That’s because you’ll have to be switching back and forth between different QuickBooks windows. If you forget to switch the windows and use for example, the enter credit card charges window instead of the write checks window, then you’ve entered something incorrectly. Catching and fixing the error is time consuming.
So sure, you can enter documents a pile at a time into QuickBooks, but there’s a much better way to do it.
The solution. Pre-organize all your receipts before you enter them into QuickBooks and enter those documents in a particular order. This is because certain transactions, such as a bill payments, require a bill to be entered first before you can pay it.
Who is this course for?
For anybody who wants to do their bookkeeping in QuickBooks easier, faster, and with less errors.
This guide was designed with the beginner in mind, someone who doesn’t know bookkeeping or bookkeeping terminology.
However, the system that was designed will be useful to both QuickBooks beginners and experts. In fact, the more complicated your bookkeeping is, the more useful the system becomes.
What’s in this guide
- A filing system for sorting through all your bookkeeping documents so that you can enter those documents into QuickBooks in the best way possible. It shows you which QuickBooks window to use for entering each type of bookkeeping document you will collect and in what order you should enter the documents.
- A work flow that takes you from start to finish of entering your transactions to getting your financial reports.
- A customizable checklist that you can use to make sure you’re doing your bookkeeping on-time and not forgetting anything.
What’s not in this guide
- This guide is not a full blown course on how to use every feature in QuickBooks. Instead, it will give you a solid work flow on getting around QuickBooks quickly and efficiently.
4. Getting Started
There are three parts to this guide.
- This guide itself
- A flow chart
- A checklist
The goal is that after reading this guide, you can use the flow charts and checklist every time you do your bookkeeping. If you need a refresher, you can go back to this guide.
Let me first introduce you to the flow chart.
There are six steps in the bookkeeping system.
- gather documents
- sort into folders
- enter into QuickBooks
- reconcile and correct
- reports and filings
- store and backup
I will go through the why and how of each step after we go into the flow chart in a bit more depth.
5. The Flow Chart
Here’s the bookkeeping flow chart.
How to use the flow chart
The chart is color coded and laid out from left to right and from top to bottom on purpose.
You do step 1 to 6, from left to right.
You enter transactions from 1 to 11 (there is no 12 and 13 because these are not entered as new transactions into QuickBooks)
You’ll notice that there are many folders that are green in color. This is because you could do number 5 before you do number 1. But, you have to do green before you do the red, because you can’t reconcile transactions before you enter transactions.
You’ll also notice that the green has two shades, light green and dark green. You can’t enter the dark green before you do the accompanying light green entry first (ex: you can’t 02 – pay a bill before you 01 – enter a bill and you can’t 06 – record a deposit before you 05 – receive payments / sales receipt).
The blue “don’t know / other” folder is for transactions that you don’t quite know how to categorize. This can be because you don’t know how the receipt was paid for, or perhaps it was paid for using multiple methods. This is a catch all for anything you don’t quite know how to deal with or that don’t fit in any of the other folders.
I put blue between the green and red for a specific reason. The green folders are documents that you know how to categorize. By entering all the known transactions first, it will leave less unknown transactions to deal with, less possibilities for your “09 – don’t know / other” folder. Think of all the transactions as pieces of a puzzle. The more pieces you can put down, the easier the puzzle becomes.
6. Step 1 – gather documents
Gathering documents is one of the most crucial steps in bookkeeping. After all, bookkeeping is all about entering information, and if you don’t have the information, you can’t do your bookkeeping.
At the most basic form, for bookkeeping purposes, you need to gather any document that will show money going in to or out of your business’s accounts, whether it be a bank account, credit card, loan, line of credit, etc… For example, if an item shows up on your business bank statement, you need a document explaining the item.
You also need to collect documentation of any monies that have been paid with non-business accounts, but are legitimate business expenses, such as:
- Expenses employees paid for themselves and need to be reimbursed for
- Any thing an owner paid for using a personal debit card, credit card, or cash
Usually you are issued these bookkeeping documents in-person (ex: paper receipt) or the documents are emailed to you. However, sometimes you have to go and collect the documents yourself.
This is why I use a checklist, so that I don’t forget what document to collect and when to collect them.
For example, I have a whole section in my checklist called Download Statements. It is formatted like this:
- Chequing Account – 1st of the month
- Visa Account – 19th of the month
- Paypal Account – no official statement, have to download when needed
- Mastercard Account – 15th of the month
I also have a section in my checklist for places that I need to download receipts from as the documents are not physically mailed or e-mailed to me. Common charges that you may need to download on a monthly basis are:
- cell phone bill
- shipping bill
- car lease
- membership payment
- web hosting payment
So, the 1st step is gathering the documents. The 2nd step is sorting those documents.
There is an article I’ve written explaining what information the bookkeeping documents you collect should have and some other tips on gathering bookkeeping documents at http://www.smallbusinessdoer.com/what-information-should-you-collect-for-bookkeeping/
END OF THE QUICKBOOKS BOOKKEEPING SYSTEM PREVIEW
To get the rest of the course, click the payment button below.