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SMART QuickBooks Accounting System for Small Medium Enterprises

SMART QuickBooks Accounting System for SME is a two-day workshop that aims to provide an overview and hands-on practice on QuickBooks Accounting System to assist the admin, managers, executives, and business owners to apply the QuickBooks accounting system functionalities in their daily business and financial activities and enhance productivity.

QuickBooks is one of the leading and fastest-growing cloud-based accounting software in Singapore and globally. QuickBooks accounting platform is compliant with Inland Revenue
Authority of Singapore (IRAS) and PSG pre-approved accounting system. QuickBooks is the ideal business accounting software for small to mid-sized businesses. Considerable time on
bookkeeping will be saved as many of the simple bookkeeping tasks are handled
automatically by QuickBooks and making it easier and efficient to run your businesses.

Objective

By the end of the course, learners will be able to:
- Setting up QuickBooks Accounting System
- Use QuickBooks to perform accounting functions and aid decision makings
- Configure and import relevant data to QuickBooks accounting system
- Set up and compute GST for expenses and invoices
- Generate financial and accounting reports

Outline

Topic 1. Introduction
• Getting Started in QuickBooks, a cloud-based accounting system
• Features and advantages of using QuickBooks
• Exploring QuickBooks and getting to know QuickBooks functions
• QuickBooks Dashboard and shortcut tools

Topic 2: Setting up Company
• Creating a New Company in QuickBooks
• QuickBooks Organisation set up
• Financial & Tax Settings
• User Access and roles

Topic 3: Setting up Chart of Accounts
• Setup of Chart of Accounts
• Chart of Account Management

Topic 4: Setting up Bank Account
• Connecting or Adding Bank Accounts in QuickBooks
• Activating Bank Feeds from your bank into QuickBooks
• Importing bank statement transactions
• Setting Up Petty Cash Account

Topic 5: Bank Reconciliation
• Reconcile bank accounts
• Recording Transactions while reconciling
• Creating Bank Rules
• Generating Bank Reconciliation Summary

Topic 6: Inventory Management
• Creating Non-Stock Inventory Items/Services in QuickBooks
• Creating stock tracked inventory Items in QuickBooks
• Importing Inventory Items into QuickBooks, including Opening Balance

Topic 7: Managing Sales Transactions
• Recording Sales Quote, converting into a new Sales Invoice
• Recording customer payments, credit note, prepayments & overpayments
• Generate and Sending Customer Invoices and Statements
• Recording Recurring or Repeating Sales Transactions

Topic 8: Managing Purchases Transactions
• Recording and send Purchase Orders, Copy Purchase Order to Bill
• Recording Supplier Credit Note
• Recording payments to suppliers
• Recording Recurring or Repeating Purchases Transactions

Topic 9: Tax / GST
• GST Tax Setup
• GST Tax Returns Preparation, Review & Submission
• GST Tax Reports

Topic 10. End-of-Period Closing Procedures
• Journal Adjustments
• Reconciliation items
• Provisions and Accruals and Prepayments
• Trial Balance

Topic 11: Reports
• Profit and Loss Statement
• Balance Sheet
• Cashflows Statement
• Accountants & Management Reports

Who should attend

Admin, accounting staff, managers, accountants, business owners and entrepreneurs, non-accounting /financial professionals

Methodology

Live demo, free trial software download, hand-on exercises, and case studies

Particular of Gary Chan

Chartered Certified Accountant, (ACCA, UK)
MBA in International Business (Henley Business School / University of Reading, UK)
MSc in Strategic Marketing (National University of Ireland)
Certified Trainer & Assessor (WDA-ACTA, Singapore)
Certified Advisors ( Xero and QuickBooks Accounting System )

Gary Chan has held various senior management roles in both local and international organizations including that of Regional Director and CFO for a large MNC, Director of Corporate Services for an SME, and Vice President for the Asia Pacific for a Fortune 500 company. These have enabled him to accumulate more than thirty years of extensive corporate finance and business leadership experience in his current role as a much sought-after corporate trainer and consultant; particularly in accounting, finance, business management, and development as well as strategic planning and implementation.

Gary is a Chartered Accountant (ACCA, UK) and started his career as an external auditor with Price Waterhouse Coopers. He possesses an MBA in Business Administration from Henley University in the UK, majoring in International Business. In addition, Gary holds a Master of Science from the National University of Ireland, majoring in Strategic Marketing. Gary is a registered Chartered Accountant member with the Institute of Singapore Chartered Accountants (ISCA).

Gary is passionate about helping people change and re-learn the way they lead, manage, think, create, and collaborate with the aim of supporting his learners in their journey to attain personal and organizational success.

Gary utilizes his creativity and real-world examples in conducting his training. He is passionately fond of training and always willing to share with others all that he knows. His outgoing pleasant personality and confident disposition coupled with his lively, light-hearted, thoughtful, engaging, liberally sprinkled with humour and always relevant to his learners’ needs have made his training more lively, fun and insightful.

Gary represents several departments of government and non-profit organizations in providing volunteer works and training to the public. Gary has been featured in the media locally and regionally. Gary is the founder of a local Skill Training & Consulting which provides training and advisory on Accounting, Tax, Financial Management, Financial Planning, Regional Business Development/Expansion, and Strategic Planning and Implementation.