Lecture: 2 hours/week
And
Seminar: 2 hours/week
Lecture and practical applications, conducted in a computer lab and/or online.
1. QuickBooks setup:
1.1 Set up company including general ledger accounts, product and service lists, sales taxes codes, payment terms, invoices, bills, customer and vendor profiles, opening balances.
1.2 Importing files.
1.3 Exporting reports to Excel.
1.4 Reports and display screen customizing.
2. Journal entries, entering, editing, recurring.
3. Accounts receivable:
3.1 Transactions, including invoices, credit memos, cash receipts, adjustments, recurring and writing-off accounts (allowance method).
3.2 Customers adding and editing.
3.3 Reports, including aged receivable reports.
4. Accounts payable:
4.1 Transactions, including invoices, credit memos, payments, recurring and adjustments.
4.2 Vendors adding and editing.
4.3 Payments, both manual and computer-generated cheques.
4.4 Reports, including aged payable reports.
5. Project reports.
6. Inventory and service adding and editing.
7. Period-end procedures, including month-end and year-end:
7.1 Adjusting and reversing entries.
7.2 Reports, including financial statements.
8. Bank reconciliation and sales tax:
8.1 Transferring of funds.
8.2 Bank reconciliation, NSF cheques, and adjustments.
8.3 Remitting GST/PST/HST and related reports.
8.4 Reports, including a reconciliation report, missing cheques and transaction detail by account.
9. Sage or other accounting software:
9.1 General ledger account adding.
9.2 Journal entries, entering, using recurring transactions, adjusting.
10. Accounts receivable:
10.1 Transactions, including invoices, credit memos, cash receipts, adjustments, recurring and writing-off accounts (allowance method).
10.2 Customers adding and editing.
10.3 Reports, including aged receivable reports.
11. Accounts payable:
11.1 Transactions, including invoices, credit memos, payments, recurring, adjustments.
11.2 Vendors adding and editing.
11.3 Reports, including aged payable reports. Payment, manual and computer-generated cheques.
12. Payroll:
12.1 Employees adding and modifying.
12.2 Payroll run including vacation pay and corrections.
12.3 Payroll taxes remitting.
12.4 Reports.
At the end of the course, the successful student should be able to use QuickBooks to:
- Set up a new company.
- Record journal entries.
- Record transactions related to accounts receivable.
- Record transactions related to accounts payable.
- Apply transactions to projects.
- Use inventory and the product service list.
- Process period-end procedures.
- Prepare bank reconciliation.
At the end of the course, the successful student should be able to use Sage or other approved accounting software to:
9. Record journal entries.
10. Record transactions related to accounts receivable.
11. Record transactions related to accounts payable.
12. Process payroll.
|
QuickBooks: |
75% | |
| Assignments/Project(s)/Quizzes | 25% | |
| Test(s) | 25% | |
| Final | 25% | |
| Sage/Other Accounting Software: | 25% | |
| Assignment(s)/Project(s)/Quiz(zes) | 10% | |
| Final | 15% | |
| Total | 100% |
Assessment will be based on course objectives and will be carried out in accordance with the Douglas College Evaluation Policy.
Students must write both finals in order to obtain credit for the course.
To pass this course, students must obtain a minimum of 50% on invigilated assessments, with the 50% calculated on a weighted average basis.
Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.
Textbooks and Materials to be Purchased by Students
QuickBooks Online, Susan Watkin, Labyrinth Learning, latest edition.
Learning Sage 50 A Modular Approach. Deepak Sharma and Kerri Simich.
Or other textbook(s) approved by the Accounting Department.
ACCT 1110 or ACCT 1235 text or equivalent.