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Accounting with Quickbooks

About the course

This accredited course completes two competencies in one by combining the basics of bookkeeping with practical training in Quickbooks accounting software. You will learn to prepare financial records using manual bookkeeping and then learn how these records are kept using Quickbook accounting system. On successful completion of competencies you will receive a statement of attainment, BSBFIA303 Process accounts payable and receivable, from BSB30415 Certificate III Business Administration as well as ICTICT208 Operate accounting applications from ICT20115 Certificate II in Information, Digital Media and Technology. Comprehensive Quickbooks manual and bookkeeping workbook provided. Before you enrol you must be able to: create files and folders,open an application program, copy, rename, delete files, save, open and print a file. You will need to bring pen, notebook and calculator.

Prerequisite

Knowledge of basic accounting terminologies and processes preferred.

Learning outcomes

On successful completion of the course, you should be able to -

Maintain financial journal systems
1.1.Check source documents for accuracy and appropriate authorisation
1.2. Refer errors and discrepancies in source documents for resolution, in accordance with organisational policy and procedures
1.3. Enter transactions into cash and credit journal system in accordance with organisational policy and procedures, and relevant legislation and compliance requirements
1.4. Total credit journals in accordance with organisational policy and procedures

Prepare bank reconciliations
2.1 Check cash journals against bank statements to identify differences
2.2 Update cash journals with relevant data from bank statements
2.3 Identify discrepancies and refer to appropriate staff member, organisation or agency
2.4 Total cash journals in accordance with organisational policy and procedures
2.5 Prepare regular reconciliation reports within designated time lines

Maintain accounts payable and accounts receivable systems
3.1 Enter transactions into individual accounts payable and accounts receivable, in accordance with organisational policy and
procedures, and accounting requirements
3.2 Prepare schedules accounts payable and accounts receivable for reconciliation purposes, in accordance with organisational
requirements
3.3 Reconcile schedules accounts payable and accounts receivable with journal data or general ledger, in accordance with
organisational requirements

Process payments for accounts payable
4.1 Reconcile accounts payable statements with accounting records, in accordance with organisational policy and procedures
4.2 Check payment documentation for accuracy of information and discrepancies and rectify errors, in accordance with
organisational requirements

Prepare statement for accounts receivable
5.1 Produce and check accounts receivable statements for accuracy of content in accordance with organisational policy and
procedures
5.2 Rectify discrepancies and statements despatched within designated time lines

Follow up outstanding accounts
6.1 Maintain accounts receivable ledger system, in accordance with organisational requirements, to reflect current credit situation
6.2 Conduct aged analysis of accounts receivable to identify outstanding accounts and to determine collection procedures, in
accordance with organisational requirements
6.3 Report or follow-up outstanding accounts in accordance with organisational policy and procedures
6.4 Monitor and review credit terms in accordance with credit policy and procedures.

This course also encompasses the essential functions of MYOB software, which will help you consolidate your bookkeeping basics and learn how to use one of the best, full-featured accounting software packages for home or small business.

As well as the above learning outcomes, you should be able to -

Customise software
1.1 Select accounting software to meet business requirements
1.2 Load, register and configure accounting software according to operating instructions

Create enterprise data
2.1 Establish chart of accounts according to business requirements
2.2 Create and add data on customers and sales
2.3 Create and add data on suppliers and purchases
2.4 Create and add inventory details
2.5 Add required/suitable tax codes

Record and track transactions
3.1 Generate invoices and track their progress
3.2 Record customer payments and update customer details
3.3 Record and track purchases
3.4 Record payment of wages, allowances, taxation and superannuation
3.5 Update business data as required

Save and back up data
4.1 Save accounting data to disk
4.2 Make a regular back-up of all accounting data and store in a safe location

Generated reports
5.1 Reconcile accounts
5.2 Generate and print financial reports based on accounting data
5.3 Check financial reports for errors and discrepancies
5.4 Discuss errors with appropriate person and rectify as required

Learning and assessment strategy

This course will be delivered in a classroom environment. Learning strategies include face to face delivery, case studies, practical exercises etc. Assessment strategies include case studies, observation and written questions.

LLN Skills required

This course requires strong language, literacy and numeracy skills. At a very simple level, this means you need to understand the trainer and can communicate with the trainer in English. You also need to understand accounting terminologies.

Need further information?

Please feel free to contact our enrolment officer on 02 96872072 or send an email to admin@parramattacollege.com.au.

Assessments are made against units of competency.
  • Operate accounting applications (ICTICT208)
  • Process accounts payable and receivable (BSBFIA303)
$450 Limited GST free
Accounting with Quickbooks

<h1 id="Aboutthecourse">About the course</h1><p>This accredited course completes two competencies in one by combining the basics of bookkeeping with practical training in Quickbooks accounting

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