What You'll Learn
Company Setup:
Students will start by learning how to create a company in QuickBooks, set up accounts, define the base currency, configure tax settings, and prepare the chart of accounts. This foundational step ensures that all transactions and reports are correctly structured from the start.
Sales and Purchase Transactions:
The course covers recording all sales and purchase transactions, including invoices, bills, credit notes, refunds, bad debts, delayed charges, and delayed credits. Students will also learn to handle prepaid income and expenses, ensuring that every entry reflects the true financial position of the business.
Foreign Currency Management:
Students will gain practical skills in recording and reconciling foreign currency transactions, managing exchange rate impacts, and handling transfers between base and foreign currency accounts. The section ensures accurate reporting for multi-currency businesses.
Petty Cash and Director Accounts:
This section teaches students to manage petty cash operations, track money spent and received, and reconcile balances. It also covers director loan accounts, including funds introduced and personal money spent on business expenses, maintaining accurate records of owner contributions and expenditures.
Bank Reconciliation and Transactions:
Students will learn comprehensive bank reconciliation, including importing statements, reconciling during lock periods, applying bank rules, splitting payments, and transferring funds between accounts. This ensures accuracy and resolves common reconciliation issues efficiently.
Reporting and Financial Analysis:
Finally, students will learn to generate and interpret reports, including the impact of all transactions—delayed charges, delayed credits, refunds, bad debts, and foreign currency adjustments—on financial statements. The section covers aged summaries and other key reports, equipping learners to analyze business performance and make informed decisions.
I am an ACCA-qualified professional with extensive experience working in accounting firms across the UK. Over the years, I have developed a strong skill set in core accounting functions, including bookkeeping, VAT returns, accounts preparation, and payroll processing.
I am proficient in using a variety of accounting and business software such as CaseWare, Microsoft Dynamics, Xero, QuickBooks, KeyPrime, Sage, and Futrli, which has enabled me to work efficiently across different client needs and industries.
In addition to my technical expertise, I have a solid background in training and mentoring. I have successfully delivered tuition and practical training to AAT and ACCA students, recent graduates, trainee accountants, and apprentices. My approach emphasizes real-world application, helping learners build the confidence and skills required in professional accounting roles. I am also a strong team player, capable of working under pressure to meet tight deadlines, and consistently strive to maintain high standards of accuracy and professionalism in all aspects of my work.
