Bookkeepers - Understanding your clients books - what to look for
This is a do it yourself, roll up your sleeve and learn how to get a feel for the numbers in a client's QuickBooks Online (QBO) file. This exercise will let you know the level of work that needs to be done. It will also help you, the practitioner, to gauge the level of work you are doing for your client.
Our firm specializes in clean-ups and getting books in shape for tax preparation and internal management evaluation.
This course DOES NOT teach you how to use QBO, it shows you step by step how a professional should evaluate financial data so you know if you can count on the data in the client's QBO file. This is the process we use to review a file to determine the current condition of a client's financial records so that we can quote for work. We will walk you through the reports you should review and how to obtain them.
At the introductory price of $37 - you can't go wrong! Learn to navigate and understand your client's numbers like a PRO!
4 Modules
Getting Started
You need to do a few things to get started and begin mastering QBO navigation and reports.
This module will provide information on how to access reports in QBO, tax return basics, accounting terminology and a list of documents to obtain.
Image by Arek Socha from Pixabay
Balance Sheet
Ok, are you ready? Here is where we take the deep dive and compare the information that you have put together against the information in your QBO file.
Give yourself some time, a quiet area and be patient. We are going to walk you through this each step of the way.
It is also to help you understand the information in QBO and if it seems to be correct.
Image by Peggy und Marco Lachmann-Anke from Pixabay
Income Statement/Profit & Loss
This is probably the report that you rely on most, but if the balance sheet is filled with errors, these numbers are not correct.
Image by Megan Rexazin from Pixabay
What now?
At this point, you should have a better idea of how the books are looking. Or, perhaps you feel like you need some more help with this. We have a couple of different options if you are interested.
Image by Gerd Altmann from Pixabay
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