• Post category:StudyBullet-14
  • Reading time:5 mins read


Simplifying Complex Transactions for Extended Projects with Real-World Techniques

What you will learn

Understand the principles and processes of progress invoicing and revenue recognition in QuickBooks Online.

Identify common revenue recognition issues that arise when managing jobs over a prolonged period.

Apply multiple techniques and strategies to handle these revenue recognition problems effectively.

Implement best practices for managing and monitoring long-term projects to ensure accurate invoicing and revenue recognition.

Use QuickBooks Online tools and features to streamline the progress invoicing and revenue recognition processes.

Description

Dive headfirst into the intricate world of progress invoicing and revenue recognition with our comprehensive, 100% online course focusing on QuickBooks Online. Our meticulously designed course provides practical, hands-on knowledge, making it perfect for small business owners, accountants, financial professionals, or anyone seeking to broaden their understanding of these critical financial concepts.

We believe in learning by doing, which is why this course offers a blend of instructional content backed by real-world examples and interactive exercises. The course is specially designed to address common issues in revenue recognition that can emerge when managing jobs spread over extended periods. It presents multiple strategies to tackle these problems effectively, ensuring you’re prepared to handle any challenges that come your way.


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The aim of this course is not just to educate but to empower. We want you to finish this course with a clear understanding of progress invoicing and revenue recognition, but more importantly, with the ability to apply these concepts to your own business or job. This course will equip you with the necessary tools and knowledge to streamline your financial processes, enhance your business efficiency, and strengthen your financial management skills.

Join us on this journey to financial mastery, and let’s revolutionize the way you understand and manage your business’s finances together. Enroll now and take your first step towards becoming a QuickBooks Online expert.

English
language

Content

Overview

1010 Access Software to Practice With – Options
1020 New Company Test File – Free 30 Trial
1030 Progress Invoicing Overview – The Problem Progress Invoicing Solves

Example One

1040 Progress Invoicing – Example 1 -Estimate, Projects, Classes, & Customer Dep
1050 Progress Invoicing Example 1 – Enter Project Expenses & Progress

Example Two – Estimate, Customer Deposit, & Excel Worksheet Setup

1060 Progress Invoicing – Example 2 – Calculate & Enter Estimate
1070 Progress Invoicing – Example 2 – Customer Deposit
1080 Progress Invoicing – Example 2 – Excel Worksheet Setup

Example Two-Record Actual Costs, Revenue Recognition, Invoice, & Record Expense

1090 Progress Invoicing – Example 2 – Record Actual Costs for Month 2
1100 Progress Invoicing – Example 2 – Revenue Recognition for Month 2
1110 Example 2 – Invoice Client, Receive Payment, & Record Expenses for Month 3

Example Two-Recognize Revenue, Invoice Client, Record COGS

1120 Example 2 – Recognize Revenue for Month 3 & Invoice Client for Month 4
1130 Example 2 – Record COGS & Revenue for Month 4 & Invoice Customer for Month
1140 Example 2 – Record Customer Payment, COGS, & Revenue for Month 5

Example 2-Close Project, Zero Out WIP & Billing Account

1150 Example 2 – Close Project, Zero Out WIP & Billings Account