ACCT 115: QuickBooks

Citrus College Course Outline of Record

Citrus College Course Outline of Record
Heading Value
Effective Term: Fall 2023
Credits: 2
Total Contact Hours: 36
Lecture Hours : 36
Lab Hours: 0
Hours Arranged: 0
Outside of Class Hours: 72
Transferable to CSU: No
Transferable to UC: No
Grading Method: Standard Letter, Pass/No Pass

Catalog Course Description

Instruction in QuickBooks, a computerized accounting system for business. Applies basic accounting concepts. 36 lecture hours.

Course Objectives

  • set up a business accounting system using QuickBooks
  • create and print reports, graphs and general purpose financial statements such as balance sheets, income statements and cash flow statements.
  • use various QuickBook functions such as formatting, menus, navigator bar, files and lists.
  • use QuickBooks to analyze financial reports and make business decisions.
  • analyze and record business transactions for a service business.
  • analyze and record business transactions for a merchandising business.
  • analyze adjustments and prepare adjusting entries.
  • use Quickbooks to record sales activities.
  • use Quickbooks to record purchase activities.
  • analyze financial statements, reports and graphs using Quickbooks.
  • use Quickbooks to prepare closing entries.
  • use Quickbooks for payroll related activities.

Major Course Content

  1. QuickBooks Online (QBO) : Introduction and Setting Up Company Files
    1. QuickBooks Online Organization
    2. Navigating QuickBooks window
    3. Setting up company files
  2. Sales Activity (Service Company)
    1. Set up standard sales setting
    2. Add and edit customers
    3. Add and edit service items
    4. Record sales on account and cash sales 
    5. Record customer payment 
    6. Record deposits to bank 
    7. Create sales and receivable reports
  3. Purchasing Activity (Service Company)  
    1. Add and edit vendors 
    2. Use QBO to set up 1099s
    3. Record purchases on account
    4. Record cash and credit card payments 
    5. Create purchase and payables report
  4. End of Period Activity
    1. Reconcile bank and credit card accounts 
    2. Record adjusting journal entries 
    3. Create financial statement reports 
    4. Close an accounting period
  5. Sales Activity (Merchandising Company)
    1. Set up and edit sales tax codes and rates
    2. Set up and edit inventory items
    3. Record customer discounts
    4. Write off uncollectible accounts 
    5. Record customer credit card payments 
    6. Record NSF checks 
    7. Prepare sales reports by inventory item
  6. Purchasing Activity (Merchandising Company) 
    1. Record purchase of inventory by check
    2. Create and edit purchase orders 
    3. Record receipt of inventory with and without vendor bill
    4. Enter and apply vendor credit memos
    5. Prepare inventory and purchase order reports
  7. End of Period Activity (Merchandising Company)
    1. Adjust inventory quantities 
    2. Pay sales tax 
    3. Record non-customer cash receipts 
    4. Inactivate and merge account
  8. Payroll Activity
    1. Add and edit salaried and hourly employees
    2. Add and edit payroll items 
    3. Create paychecks and payroll tax liability
    4. Create payroll reports
  9. Billing for Time and Expenses
    1. Track employee time by customer and by service using timesheets
    2. Add billable expenses to invoices and sales receipts
  10. Management Tools
    1. Use class and location tracking in QBO
    2. Prepare reports by class and location
    3. Journalizing an adjustment
  11. Additional Tools
    1. Create reversing entries 
    2. Create recurring transactions
    3. Export to excel
    4. Manage attachments

Examples of Required Writing Assignments

Students write answers to textbook discussion questions for each of the chapters.
Explain the following: 1) Rules of debits and credits 2) The objective of adjusting entries 3) The difference between and accrual and a deferral adjustment 4) The information reported on an income statement, balance sheet and cash flow statement

Examples of Outside Assignments

Using the QuickBooks program, prepare both a balance sheet and an income statement for a particular company.

Instruction Type(s)

Lecture, Online Education Lecture