This learn accounting shows exactly what steps are necessary to set up merchandise inventory on a new system with a fresh start. You must make an inventory adjustment instead of transaction. The balancing adjustment account is an equity account like opening balance equity. This is demonstrated in QuickBooks desktop and QuickBooks online. This Playlist will help you learn the best possible method for changing form any accounting system to any other accounting system, regardless.
Changing Accounting Systems can be easy and seamless if you follow the exact instructions in this course. This accounting video tutorial will show you the clearest, simplest steps that anyy business would need to make a “fresh start” with beginning numbers that are all correct on the start date of the new system.
Students only need a basic understanding of accounting as to follow along and understand clearly what needs to be done in their own system.
The course demonstrates: set up journal entries, set up receivables and payables, set up undeposited funds, inventory and sales tax. These ideas will apply to any transfer of accounting systems or even starting a new file with correct numbers as of a new fiscal year.
All ideas for changing accounting systems are demonstrated in both QuickBooks Desktop as well as QuickBooks Online. I’m absolutely sure that these clear, step-by-step videos will help anyone start their new accounting system with everything they need.
Very few questions come up, but I’m here if you need advice related to your transfer.
You can get all the accounting help you need and learn every aspect of QuickBooks free for both QuickBooks desktop and QuickBooks online at the main channel page:
YouTube.com/worldwidequickbooks
You can get live help for anything at my website:
Marksmolen.com
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