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Intro to Quickbooks Workshop

             Presented by:
         Mark Engle, Director
MCCD Small Business Development Center
     2400 N. Central Avenue, #104
          Phoenix, AZ 85004
             480-784-0590
Intro to Quickbooks
• Introduction of Speaker
• Rules for the seminar
  – Meet your SBDC
    Counselor
  – Q&A for end
  – Evaluations
Why Accounting?
• Taxes
• Profit or Loss?
• Selling the Business
  someday…
• Last but not least for
  Managing the Business!
  (Managing by the
  numbers)
Should I hire an
 accountant?
 • What is your time
   worth?
 • Would you do your
   own dentistry or
   legal?
 • Getting help to start
 • Bookkeeping vs.
   Accounting
Where do I begin?

  • Keeping track of
    expenses
  • Receipts & Logs
  • Separate accounts for
    business & personal
  • Shoe Box Accounting is
    expensive in the long run
General Recordkeeping
• Revenue & Expense Records
  – Vendor Center
  – Employee Center
  – Customer Center
  – Petty Cash
• Balance Sheet
  – Inventory Tracking
  – Fixed Assets
  – Accounts Payable (bills)
  – Accounts Receivable (credit sales)
General Recordkeeping
    • Mileage, Entertainment,
      Travel
    • Payroll Accounting
    • Customer Lists & Records
    • Financial Statements:
      – Income Statement
      – Cash Flow
      – Balance Sheet
Where to Start with
  Quickbooks

• Chart of Accounts
  – Number your accounts
  – Control who creates accounts
  – QB’s help can help!
• Setup Vendors, Customers &
  Employees through Use
The Financial Statements


     • Balance Sheet
     • Income Statement (P&L)
     • Monitoring performanc
       – Monthly for P&L
       – Compare to budget
     • Cash Flow Statements
Other Considerations

  •   Recordkeeping Schedule
  •   Tax schedules
  •   Records retention
  •   Do you really need
      Quickbooks??
When You Have
    Employees
• Legal Considerations
• Costs involved in
  bookkeeping
• Penalties are severe for non-
  payment of taxes
• Have separate payroll account
  and deposit for employee and
  employer weekly
Accounting Policies

•   #1 – Accounts Payable
•   #2 – Budget & Cost Controls
•   #3 – Cash Flow Management
•   #4 – Reimbursements
Where to go from here

• SBDC Open Labs for video
  tutorial and try the program
• Get professional help
• Have controls in place for
  accounting systems
• Use financial statements to
  make your business succeed!
Intro to Quickbooks
          Presented by:
           Mark Engle
             Director

Maricopa Community Colleges Small
     Business Development Center
    2400 N. Central Avenue, #104
         Phoenix, AZ 85004
            480-784-0590
      www.maricopaSBDC.com

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Intro to quickbooks 2012 (1)

  • 1. Intro to Quickbooks Workshop Presented by: Mark Engle, Director MCCD Small Business Development Center 2400 N. Central Avenue, #104 Phoenix, AZ 85004 480-784-0590
  • 2. Intro to Quickbooks • Introduction of Speaker • Rules for the seminar – Meet your SBDC Counselor – Q&A for end – Evaluations
  • 3. Why Accounting? • Taxes • Profit or Loss? • Selling the Business someday… • Last but not least for Managing the Business! (Managing by the numbers)
  • 4. Should I hire an accountant? • What is your time worth? • Would you do your own dentistry or legal? • Getting help to start • Bookkeeping vs. Accounting
  • 5. Where do I begin? • Keeping track of expenses • Receipts & Logs • Separate accounts for business & personal • Shoe Box Accounting is expensive in the long run
  • 6. General Recordkeeping • Revenue & Expense Records – Vendor Center – Employee Center – Customer Center – Petty Cash • Balance Sheet – Inventory Tracking – Fixed Assets – Accounts Payable (bills) – Accounts Receivable (credit sales)
  • 7. General Recordkeeping • Mileage, Entertainment, Travel • Payroll Accounting • Customer Lists & Records • Financial Statements: – Income Statement – Cash Flow – Balance Sheet
  • 8. Where to Start with Quickbooks • Chart of Accounts – Number your accounts – Control who creates accounts – QB’s help can help! • Setup Vendors, Customers & Employees through Use
  • 9. The Financial Statements • Balance Sheet • Income Statement (P&L) • Monitoring performanc – Monthly for P&L – Compare to budget • Cash Flow Statements
  • 10. Other Considerations • Recordkeeping Schedule • Tax schedules • Records retention • Do you really need Quickbooks??
  • 11. When You Have Employees • Legal Considerations • Costs involved in bookkeeping • Penalties are severe for non- payment of taxes • Have separate payroll account and deposit for employee and employer weekly
  • 12. Accounting Policies • #1 – Accounts Payable • #2 – Budget & Cost Controls • #3 – Cash Flow Management • #4 – Reimbursements
  • 13. Where to go from here • SBDC Open Labs for video tutorial and try the program • Get professional help • Have controls in place for accounting systems • Use financial statements to make your business succeed!
  • 14. Intro to Quickbooks Presented by: Mark Engle Director Maricopa Community Colleges Small Business Development Center 2400 N. Central Avenue, #104 Phoenix, AZ 85004 480-784-0590 www.maricopaSBDC.com