Owner’s Equity Transactions and Tax Mapping [Free Course]

Learn everything about owner's equity and taxes as they relate to QuickBooks
Instructed by: Professor Mark Smolen | Subject: Business, Finance

Description

In this QuickBooks Desktop Course, you will maser every idea that relates to owner’s equity and transactions that involve owner’s equity accounts. You will also learn everything you need to know about “tax mapping” in QuickBooks. You will see how to change the company type as well as change the company tax form. The main focus of this course is to give the QuickBooks user an understanding of how to record transactions where the owner spends from his or her personal funds for business reasons or spends business funds for non- business reasons. You will also have a clear understanding of retained earnings and how it behaves. It is easy and clear to do all of these things after taking this course.

Outcome

1. Record any transaction where the owner pays from their own personal funds for business reasons
2. Record any transaction where the owner pays for non business reasons from their own personal funds from the company money
3. Record withdrawls of cash and non cash assets by the owner from the business to personal use
4. Iidentify retained earnings and what it represents
5. Record distribution of partnership income into the equity accounts
6. Change the fiscal year in the company file
7. Change the company tax form in the quickbooks file
8. Map accounts to lines in the company annual federal income tax form

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Course Info

• 11 Lectures
• 1.5 Hours
• Language: English
• Subject: Business, Finance
• Instructed by: Professor Mark Smolen
• Last updated on August 2017
• Platform: Udemy