Udemy

Platform

English

Language

Finance

Category

QuickBooks Desktop vs QBO Multiple Currencies

Learn to record transactions using multiple currencies using both QuickBooks Online and QuickBooks Desktop

5.00 (1 reviews)

QuickBooks Desktop vs QBO Multiple Currencies

3789

Students

17.5 hours

Content

Mar 2021

Last Update
$94.99
Regular Price


What you will 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


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.

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.



Content

Introduction

Online-1302 Free 30-Day Trial Multiple Currencies

Online-1305 Multiple Currencies Overview

Desktop-1305 Multiple Currencies Overview

Online-1310 Multiple Currencies Cash, Accounts Receivable, & Accounts Payable

Desktop-1310 Multiple Currencies Cash, Accounts Receivable, & Accounts Payable

Sales Cycle

Documents to download

Online-1315 Multiple Currencies Invoice & Accounts Receivable

Desktop-1315 Multiple Currencies Invoice & Accounts Receivable

Online-1320 Multiple Currencies Foreign Currency Accounts Receivable Adjusting

Desktop-1320 Multiple Currencies Accounts Receivable Revalue Using Current

Online-1325 Multiple Currencies Receive Payment & Make Deposit Excel

Desktop-1325 Multiple Currencies Receive Payment & Make Deposit Excel

1330 Multiple Currencies Receive Payment & Make Deposit QuickBooks

1335 Multiple Currencies Reversing Entry

Purchase Equipment On Account

Online-1340 Multiple Currencies Purchase Equipment On Account Excel

Desktop-1340 Multiple Currencies Purchase Equipment On Account - Excel

Online-1345 Multiple Currencies Purchase Equipment On Account QB

Desktop-1345 Multiple Currencies Purchase Equipment On Account – QB

Online-1350 Multiple Currencies Adjusting Entry Loan Payable

Desktop-1350 Multiple Currencies Adjusting Entry Accounts Payable

Online-1355 Multiple Currencies Transfer Money to Foreign Currency

Desktop-1355 Multiple Currencies Transfer Money to Foreign Currency

Online-1360 Multiple Currencies Pay Foreign Loan Payable

Desktop-1360 Multiple Currencies Pay Foreign Accounts Payable

1365 Multiple Currencies Accounts Payable Reversing Entry

Purchase Inventory On Account

Online-1370 Multiple Currencies Purchase Inventory On Account

Desktop-1370 Multiple Currencies Purchase Inventory On Account

Online-1375 Multiple Currencies Accounts Payable Adjusting Entry

Desktop-1375 Multiple Currencies Accounts Payable Adjusting Entry

Online-1380 Multiple Currencies Foreign Currency Transfer

Desktop-1380 Multiple Currencies Foreign Currency Transfer

Online-1385 Multiple Currencies Accounts Payable Reversing Entry

Desktop-1385 Multiple Currencies Accounts Payable Reversing Entry

Online-1390 Multiple Currencies Accounts Payable Payment

Desktop-1390 Multiple Currencies Accounts Payable Payment

Forward Contract for Speculation that Foreign Currency will Strengthen

Documents to download

Online-1400 Setup Free 30-Day Trial Practice Multiple Currencies

Desktop-1400 Forward Contract for Speculation that Foreign Currency will

Online-1402 Forward Contract for Speculation that Foreign Currency will Str

Online-1405 Forward Contract for Speculation that Foreign Currency will Str

Desktop-1405 Forward Contract for Speculation that Foreign Currency will Str

Online-1410 Forward Contract for Speculation that Foreign Currency will Str

Desktop-1410 Forward Contract for Speculation that Foreign Currency will Str

Online-1415 Forward Contract for Speculation that Foreign Currency will Stre

Desktop-1415 Forward Contract for Speculation that Foreign Currency will Str

Online-1420 Forward Contract for Speculation that Foreign Currency will St

Desktop-1420 Forward Contract for Speculation that Foreign Currency will Str

Online-1425 Forward Contract for Speculation that Foreign Currency will Str

Desktop-1425 Forward Contract for Speculation that Foreign Currency will Str

Desktop-1430 Forward Contract for Speculation that Foreign Currency will Str

Forward Contract for Speculation that Foreign Currency will Weaken

Documents to download

Online-1447 Free 30 Trial Setup-Forward Contract for Speculation that F

Online-1450 Forward Contract for Speculation that Foreign Currency will

Desktop-1450 Forward Contract for Speculation that Foreign Currency will

Online-1455 Forward Contract for Speculation that Foreign Currency will

Desktop-1455 Forward Contract for Speculation that Foreign Currency will

Online-1460 Forward Contract for Speculation that Foreign Currency will

Desktop-1460 Forward Contract for Speculation that Foreign Currency will

Online-1465 Forward Contract for Speculation that Foreign Currency

Desktop-1465 Forward Contract for Speculation that Foreign Currency will Weake

Online-1470 Forward Contract for Speculation that Foreign Currency will Weaken

Desktop-1470 Forward Contract for Speculation that Foreign Currency will Weaken

Online-1472 Forward Contract for Speculation that Foreign Currency will Weaken

Desktop-1472 Forward Contract for Speculation that Foreign Currency will Weaken

Online-1475 Forward Contract for Speculation that Foreign Currency will Weaken

Desktop-1475 Forward Contract for Speculation that Foreign Currency will Weaken

Online-1480 Forward Contract for Speculation that Foreign Currency will Weaken

Desktop-1480 Forward Contract for Speculation that Foreign Currency will Weaken

Forward Contracted Used to Reduce Risk From Purchase of Fixed Asset On Account

Documents to download

Online-1483 Free 30 Day Trial Multiple Currencies Problem 4

Online-1485 Multiple Currencies Problem 4 Overview

Desktop-1485 Forward Contract to Reduce Risk from Purchase Overview

Online-1490 Multiple Currencies Problem 4 Purchase Fixed Asset On Account

Desktop-1490 Purchase Fixed Asset On Account Foreign Currency

Online-1495 Multiple Currencies Problem 4 Forward Contract Initial Transaction

Desktop-1495 Forward Contract Transaction Excel

1497 Forward Contract Transaction QuickBooks

Online-1500 Multiple Currencies Problem 4 Adjusting Entry Accounts Payable

Desktop-1500 Adjusting Entry Accounts Payable Foreign Currency

Online-1505 Multiple Currencies Problem 4 Adjusting Entry Forward Contract

Desktop-1505 Adjusting Entry Forward Contract

Online-1510 Multiple Currencies Problem 4 Foreign Payable & Forward Contract

Desktop-1510 Foreign Payable & Forward Contract Maturity Transactions

1515 Multiple Currencies Problem 4 Forward Contract Maturity Transactions

Desktop-1515 Forward Contract Maturity Transactions

Online-1520 Multiple Currencies Problem 4 Foreign Currency Accounts Payable

Online-1520 Foreign Currency Accounts Payable Maturity Transactions

1520 Foreign Currency Accounts Payable Maturity Transactions

Online-1525 Multiple Currencies Problem 4 Foreign Currency Reversing Entries

1525 Foreign Currency Reversing Entries




Coupons

StatusDateDiscount
Expired3/10/2021100% OFF

3873644

Udemy ID

2/25/2021

Course created date

3/8/2021

Course Indexed date
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