QuickBooks Online – Progress Invoicing & Revenue Recognition

Simplifying Complex Transactions for Extended Projects with Real-World Techniques

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

What Will I Learn?

• Understand the principles and processes of progress invoicing and revenue recognition in QuickBooks Online.
• Identify common revenue recognition issues that arise when managing jobs over a prolonged period.
• Apply multiple techniques and strategies to handle these revenue recognition problems effectively.
• Implement best practices for managing and monitoring long-term projects to ensure accurate invoicing and revenue recognition.
• Use QuickBooks Online tools and features to streamline the progress invoicing and revenue recognition processes.

Requirements

• Basic Accounting Knowledge: Understanding of basic accounting principles and terminologies is important. Concepts such as debits, credits, accounts payable and receivable, and general financial statement knowledge will be beneficial.
• Familiarity with QuickBooks Online: Although this course will provide a comprehensive guide to progress invoicing and revenue recognition within QuickBooks Online, previous experience with the platform will be advantageous. Familiarity with the software's basic navigation and features will help you grasp the concepts quickly.
• Motivated to Learn: The course dives deep into specific financial concepts. A desire to learn and apply these concepts is essential to fully benefit from the course.

Target audience

• Small Business Owners: Who need to understand how to manage revenue recognition and progress invoicing for long-term projects effectively.
• Accountants and Financial Professionals: Who want to deepen their understanding of these essential financial concepts and how they're handled in QuickBooks Online.
• Bookkeepers: Looking to expand their skills and provide more value to their clients.
• Entrepreneurs: Who are self-managing their business finances and need a thorough understanding of progress invoicing and revenue recognition.
• Financial Students or Enthusiasts: Seeking to gain practical knowledge of financial management in QuickBooks Online.
• Professionals Preparing for QuickBooks Certification: This course can serve as a valuable resource for those preparing for certification, particularly for its focus on the advanced topics of progress invoicing and revenue recognition.