MCW224 - QuickBooks Desktop II
| Semester | |
| School | |
| Last revision date | Jan 27, 2025 1:12:22 AM |
| Last review date | Mar 17, 2025 12:15:14 AM |
Subject Title
QuickBooks Desktop II
Subject Description
MCW224 QuickBooks presents some of the intermediate features of QuickBooks Premier Accountant Edition Desktop, Canadian version. The course reviews accounting principles and procedures to increase your proficiency and enhance your level of understanding as you work through the exercises.
This course will teach you how to create new company files, work with inventory, collect and remit taxes, and work with payroll, templates, and file permissions.
Both, MCW 223 and MCW 224, courses are designed to reinforce your existing knowledge of accounting terms and concepts by associating bookkeeping with the specific accounting tasks you learn.
Credit Status
Participating students who attend at least 70% of the scheduled class(es) receive a document confirming he/she attended this workshop.
Learning Outcomes
Upon successful completion of this subject the student will be able to:
Upon successful completion of this subject the student will be able to:
1. Managing Items
2. Correcting and Using Lists
3. Buying and Selling Inventory
4. Implementing Orders
5. Making General Journal Entries
6. Processing Payroll and Taxes
7. Starting New Company Files
8. Using Advanced Settings
9. Maintaining QuickBooks
10. Customizing Template
Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecapolytechnic.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).
Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.
Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecapolytechnic.ca.
Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.
Camera Use and Recordings - Synchronous (Live) Classes
Synchronous (live) classes may be delivered in person, in a Flexible Learning space, or online through a Seneca web conferencing platform such as MS Teams or Zoom. Flexible Learning spaces are equipped with cameras, microphones, monitors and speakers that capture and stream instructor and student interactions, providing an in-person experience for students choosing to study online.
Students joining a live class online may be required to have a working camera in order to participate, or for certain activities (e.g. group work, assessments), and high-speed broadband access (e.g. Cable, DSL) is highly recommended. In the event students encounter circumstances that impact their ability to join the platform with their camera on, they should reach out to the professor to discuss. Live classes may be recorded and made available to students to support access to course content and promote student learning and success.
By attending live classes, students are consenting to the collection and use of their personal information for the purposes of administering the class and associated coursework. To learn more about Seneca's privacy practices, visit Privacy Notice.
Prerequisite(s)
MCW223 or equivalent experience.
Topic Outline
QUICKBOOKS Level 2
Lesson 1
Managing Items
Preparing for Inventory
Understanding Items
Inventory Items are Special
Understanding Item Types Creating New Items
Examining a Service Item
Examining an Inventory Part Item
Importing Item Lists
Choosing Items
Entering NSF Cheques with Items and Billing Purchases to Customers
Selecting the Correct Item
Lesson 2
Correcting and Using Lists
Maintaining Lists and the Integrity of the Accounting Data
Correcting and Updating Lists
Mistakes Happen
Deleting an Entry
Merging Entries
Correcting Entries
Controlling the List Hierarchy
Lesson 3
Buying and Selling Inventory
Processing Inventory
Purchasing Inventory
Processing Damaged Inventory
A Sample Scenario
Adjusting Physical Inventory
Selling Inventory
Managing Customer Advance Payments
Lesson 4
Implementing Orders
Orders and Inventory Management
Inventory Tracking
Processing Customer Orders
Preparing Estimates
Using Sales Orders
Entering Purchase Orders
Receiving Inventory
Sending Customer Statements
Lesson 5
Making General Journal Entries
Recognizing the Purpose of General Journal Entries
Situations Requiring General Journal Entries
Determining Debits and Credits for General Journal Entries
Memorizing Transactions
Working with Memorized Transactions
Lesson 6
Processing Payroll and Taxes
Maintaining Tax Reporting Integrity
Tracking and Paying Sales Tax
Implementing Payroll
Setting up Payroll
Running Payroll and Issuing Cheques
Remitting and Reporting/Filing Taxes
Lesson 7
Starting New Company Files
Overview of Starting New Company Files
Preparing for File Creation
Starting Balances
Starting New Company Files
Using the Express Start Method
Using the Detailed Start Method
Using the Create Method
Lesson 8
Using Advanced Settings
Controlling Access to the Company File
Managing Users
Single-user and Multi-user Modes
Setting User Permissions
Lesson 9
Maintaining QuickBooks
Daily and Annual Maintenance Tasks
Updating QuickBooks
Protecting Accounting Data
Setting the Closing Date
Lesson 10
Customizing Templates
Modifying Lists and Forms
Adding Custom Fields
Customizing Name Fields
Customizing Item Fields
Customizing Templates
Adding Components to the Template
Mode of Instruction
Classroom instruction and extensive hands-on experience will be provided with each participant having exclusvie use of a computer.
Prescribed Texts
The following course materials will be provided:
Quickbooks 2018 Level II
(CCI)
To find out the cost of books and learning material go here.
Any courses not listed on the bookstore webpage do not require any resources for purchase. All resources will be provided by your instructor.
Required Supplies
None.
Student Progression and Promotion Policy
http://www.senecapolytechnic.ca/about/policies/student-progression-and-promotion-policy.html
Grading Policyhttp://www.senecapolytechnic.ca/about/policies/grading-policy.html
| A+ | 90% to 100% |
| A | 80% to 89% |
| B+ | 75% to 79% |
| B | 70% to 74% |
| C+ | 65% to 69% |
| C | 60% to 64% |
| D+ | 55% to 59% |
| D | 50% to 54% |
| F | 0% to 49% (Not a Pass) |
| OR | |
| EXC | Excellent |
| SAT | Satisfactory |
| UNSAT | Unsatisfactory |
For further information, see a copy of the Academic Policy, available online (http://www.senecapolytechnic.ca/about/policies/academics-and-student-services.html) or at Seneca's Registrar's Offices. (https://www.senecapolytechnic.ca/registrar.html).
Modes of Evaluation
There is no formal testing or process to evaluate the students understanding. It is up to the student to evaluate his/her own progress. Students must attend 70% of the class(es) to receive a document confirming he/she attended this workshop.