QuickBooks, QuickBooks Desktop, QuickBooks Online, multicurrency, foreign currency, accounting, bookkeeping, forward contracts, accounts receivable, accounts payable, financial management
Master QuickBooks Desktop & Online multicurrency features, handle foreign transactions, and mitigate risk using forward contracts. Enroll for free with our special coupon!
| Course InformationDetailsCourse NameQuickBooks: Multicurrency Transactions in QuickBooks Desktop & OnlineCourse Duration17.5 hours on-demand videoCourse Inclusions4 articles, 39 downloadable resources, Access on mobile and TV, Full lifetime access, Certificate of completionCoupon Code980893DDB566437CECC0 |
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What you’ll learn
- How to get access to QuickBooks Desktop & QuickBooks Online including a possible free 30-day trial for both
- How to turn on the multicurrency feature in both QuickBooks Online and QuickBooks Desktop
- Set up accounts related to multicurrency including account types of Cash, Accounts Receivable, & Accounts Payable
- Enter transactions related to foreign currency accounts receivable in both QuickBooks Desktop and QuickBooks Online
- Enter transactions related to foreign currency accounts payable in both QuickBooks Desktop and QuickBooks Online
- Enter transactions related to forward contracts for speculation in both QuickBooks Desktop and QuickBooks Online
- Enter transactions related to forward contracts to reduce risk on foreign currency transactions
This course includes:
- 17.5 hours on-demand video
- 4 articles
- 39 downloadable resources
- Access on mobile and TV
- Full lifetime access
- Certificate of completion
Description
The course will start by discussing how to get access to both QuickBooks Online and QuickBooks Desktop. Intuit, the owner of QuickBooks often offers a free 30-day trial for each software package.
This will be a project based course. We will enter transaction in Excel before entering them into the accounting software, QuickBooks desktop and QuickBooks Online. Excel is more transparent, making it easier to understand the process. QuickBooks will then automate the process making it more efficient.
We will learn how to turn multicurrency on in both QuickBooks Online and QuickBooks Desktop. 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.
This course will work an example problems related to the sales cycles and the purchases cycle. The sales cycle will focus in on tracking foreign currency receivables. the purchases cycle will focus on foreign currency payables.
We will also demonstrate transactions related to forward contracts. We will discuss the uses of forward contracts including for speculative purposes and to mitigate risk on foreign currency transactions.
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.
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Multiple currency functionality is also helpful when we make sales on account, sending an invoice, hoping to get paid in the future, tracking accounting receivable, but expecting to be paid in a foreign currency. The accounts receivable account will need to be valued in the home currency even though we will be paid in a foreign one.
We have a similar situation when we make purchases on account, promising to pay in a foreign currency at some point in the future. The accounts payable account will need to be valued in the home currency equivalence even though we will be paying in a foreign currency.
Who this course is for:
- Business owners
- Bookkeepers
- Accountants
How to Get this course FREE?
Get a 100% Discount On Udemy courses by clicking on the Apply Here Button. This Course coupon code is automatically added to the Apply Here Button.
Apply this Coupon: 980893DDB566437CECC0 is applied (For 100% Discount)
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