Presentation on theme: "Integrating Technology into the Accounting Curriculum using QuickBooks Pro! Managing your Business Transactions Implement Accounting Cycle Enter Transactions."— Presentation transcript:
Integrating Technology into the Accounting Curriculum using QuickBooks Pro! Managing your Business Transactions Implement Accounting Cycle Enter Transactions Generate Reports
QuickBooks: Point of Sale V5 Connection to NBEA & CBEA Accounting Standards Content Standard 1: Accounting Students will complete the accounting recording cycle and be able to prepare basic financial statements according to generally accepted accounting principles for various forms of business. Content Standard 2: Accounting Students will interpret and analyze basic financial statements as used by stockholders, creditors, and other users of financial information. Content Standard 3: Accounting Students will use planning and control techniques to be able to evaluate the performance of an organization. Content Standard 4: Accounting Students will apply appropriate accounting principles and procedures to selected special topics such as merchandising activities, inventories, and plant and intangible assets.
QuickBooks: Point of Sale V5 Experiential Learning Constructivist Instructional Methodology Recognized as an effective approach to computer software training. Based on theories of educator John Dewey, the constructivist approach is student-directed using realistic, practical applications to aid learners in constructing a deeper understanding with improved retention. 1 1 R.Cwiklik, Dewey Wins!: If the New Teaching Methods Pushed by High-Tech Gurus Sound Familiar, It Isnt Surprising, The Wall Street Journal, (November 17, 1997), R19.
QuickBooks: Point of Sale V5 Why QuickBooks? Chart of Accounts Assets, Liabilities, and Equity Cash Basis – record income when money is received and expenses when bills are paid; track expenses at the time you pay, rather that at the time you receive the bill. Accrual Basis – record income at the time of sale, not at the time your receive the payment; enter expenses when you receive the bill not when you pay it. Measuring Profitability Balance Sheet Profit and Loss Statement Statement of Cash Flow Banking Checking Accounts, Check Register Making Deposits, writing checks, reconciling bank statements
QuickBooks: Point of Sale V5 Why QuickBooks? Customers & Sales Record customer transactions Create Invoices, Record Sales Record Customer Payments and Print Reports Vendors, Purchases, and Inventory Record vendor transactions Create Purchase Orders Enter and Pay bills Print Vendor Reports Employees and Payroll Process Payroll Reports & Graphs Complete Accounting Cycle by creating Trial Balance and entering adjusting entries Export Reports to Excel
QuickBooks: Point of Sale V5 QuickBooks Pro Right for Your Business… Right for Your Students Creating a Service vs. Merchandising Business EasyStep Interview Process Advanced Topics Estimates, Credit Card Sales Accounting for Bad Debts Audit Trials
QuickBooks: Point of Sale V5 Numerous Clients - Security
QuickBooks: Point of Sale V5 Dashboard Reports… Exporting Graphs - Excel
QuickBooks: Point of Sale V5 Report Center – Sales…
QuickBooks: Point of Sale V5 Cash Drawer Reports…
QuickBooks: Point of Sale V5 Credit Card Payment Reports…
QuickBooks: Point of Sale V5 Customer Reports… Tracking customers data
QuickBooks: Point of Sale V5 Customer Orders Reports…
QuickBooks: Point of Sale V5 Items… Inventory, assemblies, parts etc.
QuickBooks: Point of Sale V5 Purchasing Reports Vendor & Vouchers…
QuickBooks: Point of Sale V5 Employee Reports…
QuickBooks: Point of Sale V5 Next Steps? We have reviewed the system as it relates to real world scenarios & textbook applications. We have discussed the features that will take your students to the next level. We have discussed the QuickBooks Pro commitment to student success through experiential pedagogy. Where do we go from here?
QuickBooks: Point of Sale V5 Credits… South-Western Century 21 General Journal 9E SW Accounting for QuickBooks Pro An Accounting Simulation, SW Creating the Band Glencoe Accounting Real World Applications & Connections Debra Greenier, Lewis S. Mills HS, Region 10, Burlington, CT