Practical Accounting Training – QuickBooks Online

Our QuickBooks Practical Accounting Training Programme is designed to bridge the gap between accounting theory and real-world practice. The programme is structured around the day-to-day responsibilities of junior finance roles, such as Accounts Assistants and Bookkeepers, within finance departments and accounting firms.

Learners are trained by qualified and experienced accountants using real company files, providing hands-on exposure to genuine business transactions and workflows as they happen in practice. The training focuses on how QuickBooks is used in real businesses, not just how the software works in theory.

During the practical training, learners will take on the role of a Finance Assistant working for a small business. They will gain hands-on experience by performing real-world tasks such as processing sales and purchase invoices, bank reconciliations, VAT returns and preparing reports used by accountants and managers. This approach helps learners build confidence and practical experience that employers actively look for.

Junior Finance Roles: A glimpse into responsibilities of a Bookkeeper / Accounts Assistant

As a junior finance professional, you will be entrusted with a variety of essential tasks that contribute to the smooth running of financial operations. These include:

• Creating Customer and Supplier Accounts: Establishing and maintaining accurate records for customers and suppliers, ensuring all transactions are correctly categorised and documented.
• Modifying Chart of Accounts: Setting up new ledgers and editing existing ledgers as per organisational needs.
• Processing Sales and Purchase Invoices and Credit Notes: Handling invoices and credit notes for both sales and purchases accurately.
• Processing Supplier Payments and Customer Receipts: Managing cash inflows and outflows and recording them against correct invoices.
• Performing Bank Reconciliation: Reconciling bank statements with internal records and resolving discrepancies.
• Preparing VAT Returns: Preparing and filing VAT returns while ensuring compliance with HMRC deadlines.

Learning Objectives

At the end of this programme, learners will have acquired the necessary skills and knowledge to effectively use accounting software in a professional setting.

1. Understanding basic accounting principles:
   • Grasp fundamental accounting concepts and principles
   • Understand the structure of the general ledger and chart of accounts
2. Familiarisation with computerised accounting software:
   • Identify key features and navigation of accounting software
   • Understand software customisation options for business needs
3. Setting up a company:
   • Set up company details and financial year
   • Configure opening balances and chart of accounts
4. Managing customer and supplier accounts:
   • Create and maintain customer and supplier accounts
   • Record and manage related transactions
5. Processing sales and purchase transactions:
   • Process sales invoices and credit notes
   • Process purchase invoices and credit notes
6. Handling bank transactions and reconciliation:
   • Process supplier payments and customer receipts
   • Perform bank reconciliation
7. VAT and Tax Reporting:
   • Handle VAT and tax calculations within the software
   • Prepare and submit VAT returns
8. Preparing and understanding reports:
   • Chart of accounts report
   • Trial balance
   • Profit and loss report
   • Balance sheet report