QuickBooks Desktop vs. Excel

QuickBooks and Excel accounting cycle, reporting financial transaction to both QuickBooks and Excel compare and contrast

Created by: Robert (Bob) Steele
CPA, CGMA, M.S. Tax, CPI

What Will I Learn?

• Explore the core functionalities of QuickBooks Desktop and Excel for a variety of accounting tasks.
• Distinguish differences in data input and transaction handling between QuickBooks Desktop and Excel.
• Reconcile bank accounts in QuickBooks
• Implement theoretical knowledge to carry out two months of data input in QuickBooks Desktop and Excel.
• Investigate the impacts of adjusting and closing entries in both QuickBooks Desktop and Excel.
• Assess the bank reconciliation process in both QuickBooks Desktop and Excel, and its outcomes.
• Design a streamlined workflow for managing accounting tasks across QuickBooks Desktop and Excel.
• Integrate acquired knowledge to optimize the use of QuickBooks Desktop and Excel in real-world accounting scenarios
• Showcase proficiency in QuickBooks Desktop and Excel by resolving complex accounting problems.
• Devise strategies to maximize the advantages of both QuickBooks Desktop and Excel in accounting.
• Construct a comprehensive understanding of the sales, expense, and payroll cycles in both platforms.
• Evaluate the strengths and weaknesses of QuickBooks Desktop and Excel in diverse accounting scenarios.

Requirements

• Familiarity with Excel and QuickBooks Desktop: Some basic familiarity with Excel and QuickBooks Desktop would be beneficial, as the course will delve into the specifics of these applications. This includes simple data entry, basic formulas and functions in Excel, and navigation and transaction entry in QuickBooks Desktop.
• Time Commitment: The course is intended to be comprehensive and hands-on. Ensure that you can dedicate sufficient time to fully engage with the course content and complete the tasks and exercises.
• Open Mind and Willingness to Learn: While this is not a 'hard' requirement, approaching the course with a positive attitude and readiness to learn will greatly enhance your learning experience and outcomes.

Target audience

• Accounting and Finance Students: If you're studying accounting or finance and are looking to comprehend how software like QuickBooks Desktop can simplify and streamline accounting tasks, this course will provide you with the practical knowledge and skills you need.
• Early Career Accountants: If you've recently entered the field of accounting and are looking to understand and navigate accounting software like QuickBooks Desktop, this course will be immensely beneficial. Additionally, you will learn how it compares to traditional Excel-based accounting.
• Bookkeepers and Accounting Professionals: For seasoned professionals looking to upgrade their skills, this course offers a unique perspective. You'll gain insights into how accounting software like QuickBooks Desktop and Excel compare and can complement each other in various aspects of accounting.
• Small Business Owners: If you manage your own accounting and are considering using QuickBooks Desktop or just want to understand how to efficiently use Excel for your accounting needs, this course is for you. You'll get a clear view of what's happening 'under the hood' of your accounting software.
• Finance Managers and Consultants: Professionals who advise businesses on accounting and finance matters will find this course beneficial as it provides comprehensive knowledge about two commonly used tools in the industry.
• Anyone with an Interest in Accounting Software: If you're simply curious about accounting software and how they streamline complex accounting processes, this course will give you an in-depth understanding using QuickBooks Desktop and Excel as examples.