ROBERT (BOB) STEELE – TWO QUICKBOOKS FILE-BUSINESS & PERSONAL VS ONE FILE FOR BOTH

What you will learn. Personal financial data can be tracked with a QuickBooks Desktop Pro file. Personal financial data can be entered into the software from a bank statement. How to use a single file to track both personal and business financial data. List and describe the pros and cons of using two QuickBooks files to track personal and business financial data. Personal balance sheet data can be entered into personal files. Credit card data can be entered using multiple methods. Multiple methods are used to enter employee W-2 income into the software. Multiple methods are used to enter insurance and other expenses into the software. There are requirements. We should be familiar with accounting. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it There is a description. One method of tracking both business and personal records is compared with another method of tracking both business and personal financial data using a sing file. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it We will compare the results of both methods and discuss the pros and cons of each approach. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it The method of using two separate files for business and personal records is the most widely recommended method and provides the greatest separation of business and personal data which is usually a good thing. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it We will create new files for both business and personal records. The course will provide backup files that can be used to jump forward in the course or to fix problems while using the same data set. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it Two months of data will be entered into our files using simulations of bank statements we will provide in the course as PDF files. We will use the data in the personal and business files to create reports and compare them. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it In order to track both personal and business accounting data, the next step is to enter similar data into a single QuickBooks file. To achieve this goal, we will start a new file and enter financial data from a bank statement that will be provided in PDF format. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it We will assign a class to each transaction in order to separate the data during financial reporting. The reports will include a profit and loss by class. Business and personal expenses are reported separately by class. We will discuss other options for class reports. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it We will compare the two methods, the use of two separate files for business and personal data, separated by class tracking, and the use of one file for both business and personal data. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it We will discuss personal balance sheet items and how we can add them to our financial data. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it Alternative methods for tracking credit cards, recording loan payments, and entering employee W-2 income will be discussed. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it The course will include downloads. There are backup files for QuickBooks Pro Desktop. The practice files are in excel. PDF files can be downloaded. If we choose, we can jump ahead in the material with the help of the backup files. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it When we watch the instructional videos, the practice files will have at least two tabs, one with the completed work and the other with a pre-formatted worksheet that we can fill in. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it Who is the target audience? Business owners want the best system for their business. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it Bookkeepers looking to differentiate themselves from the competition can learn how to use the class tracking feature and how to use QuickBooks to track personal finances. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it Accounting students are working on applying accounting concepts to practice.

One file for business and one file for personal.