Why I Should Attend?

QuickBooks™ is an accounting software package that can be customized to meet the needs of tribal programs and departments, tribal organizations, non-profit organizations, and entrepreneurs. QuickBooks™ Desktop can be used for internal accounting applications to manage program income, budgets, expenses, accounts receivables, accounts payables, and more. QuickBooks™ utilizes intuitive modules that make the accounting process easy to understand and navigate.

This course is a hands-on course that provides a working knowledge and understanding of basic accounting principles to help managers, entrepreneurs and their assistants to properly account for federal funds (contracts and grants), tribal funds, and company finances. The course starts with a review of basic accounting principles to ensure sound accounting principles are applied properly in QuickBooks™. Participants will learn how to organize the accounting system for the program, customize the chart of accounts, properly post income, revenues, expenses, and obligations. Participants will learn how to reconcile the accounts with bank statements. Vendor files can be set up to provide for use of credit cards and travel advances. Participants will learn how to generate customized financial reports and prepare for audits.

 

Who Should Attend?

Tribal program directors and managers; accounting staff; non-profit organizations, tribal boards of directors, and entrepreneurs. To get the most out of this session, bring your laptops, a copy of your program budget, tribal/program chart of accounts. KIVA provides consultation and technical assistance.

 

What Will I Learn?

  • Accounting Principles (Generally Accepted Accounting Principles)
  • Government Fund Accountability Standards
  • Effects of Business Transactions on the Accounting Equation
  • Who, What, When, Where and Why: Making sense of the Accounting Process
  • Understanding Financial Reports
  • Making QuickBooks™ Meet Your Needs (Setting Up Chart of Accounts, Using “Classes” for Fund Identification, Customizing Preferences, Forms, Customers, Vendors, Inventories, Understanding Expenses v. Cost of Goods Sold, Understanding Depreciation & Pre-Paid Expenses)
  • Routine Tasks (Accounts Receivables: Preparing and Processing Invoices, Sales Receipts, Customer Statements, Accounts Payables: Entering and Processing Checks, Bills and Payments, Vehicle Expense Monitoring, Trial Balance, Financial Reports)
  • Unique Situations (Customizing QuickBooks™, Using Credit Cards for Expenses, Travel Advances, Receiving Credit Card Payments, Reconciling the System with Bank Statements and Online, Closing the Books, Preparing for Audit, an Overview of QuickBooks™)
  • Overview of The Payroll / Employee Module
  • Getting the Right QuickBooks™ Edition