QUICKBOOKS DESKTOP FOR CONTRACTORS HOW TO

The multiple currency feature is useful when the company is holding onto cash in a foreign currency, the software helping us to record the home currency equivalent for financial statement presentation. We will discuss the uses of forward contracts including for speculative purposes and to mitigate risk on foreign currency transactions. We will also demonstrate transactions related to forward contracts. the purchases cycle will focus on foreign currency payables. The sales cycle will focus in on tracking foreign currency receivables. This course will work an example problems related to the sales cycles and the purchases cycle. We will learn which accounts will be affected most by multicurrency transactions, these accounts being cash account types, accounts receivable account types, and accounts payable account types.

QUICKBOOKS DESKTOP FOR CONTRACTORS HOW TO

We will learn how to turn multicurrency on in both QuickBooks Online and QuickBooks Desktop. QuickBooks will then automate the process making it more efficient. Excel is more transparent, making it easier to understand the process. We will enter transaction in Excel before entering them into the accounting software, QuickBooks desktop and QuickBooks Online. Intuit, the owner of QuickBooks often offers a free 30-day trial for each software package. The course will start by discussing how to get access to both QuickBooks Online and QuickBooks Desktop.

Quickbooks desktop for contractors