Mastering Office Accounting 2007

Code: 50018
Course duration: 3 days

50018: Mastering Office Accounting 2007 (3 Days)

About this Course

This three-day instructor-led course provides students with the knowledge and skills to use all essential parts of Microsoft Office Accounting 2007. The course focuses on usage, financial postings and customization of Office Accounting as well as the differences between Office Accounting Express and Office Accounting Professional.

Audience Profile

This course is intended for daily users such as business owners and office managers as well as accounting and IT professionals.

At Course Completion

After completing this course, students will be able to:

  • Install Office Accounting.
  • Set up a new company in Office Accounting with customers, vendors, items, employees and financial accounts.
  • Use financial tools such as journal entries and the account register.
  • Conduct customer-related transactions, such as quotes, invoices and payments.
  • Conduct vendor-related transactions, such as bills and bill payments.
  • Conduct banking-related transactions, such as checks, deposits and bank transfers.
  • Set up online banking.
  • Set up online integration with eBay.
  • Use the tools for accounting professionals.
  • Set up integration with Outlook 2007 with Business Contact manager.
  • Create and customize invoices in Word.
  • Customize reports and export them to Excel.
  • Set up sales taxes in Office Accounting.
  • Use and manage jobs in Office Accounting Professional.
  • Use foreign currency in Office Accounting Professional.

Course Outline

Module 1: Overview of Microsoft Office Accounting 2007

This module gives an overview of Office Accounting 2007 and explains which features have been added in the 2007 version.

Lessons

  • Small Business Challenges.
  • Microsoft Office Accounting 2007.
  • Save Time and Work More Efficiently.
  • Get a Complete View of Your Business.

After completing this module, students will be able to:

  • Have an overview of Office Accounting 2007.
  • Understand which features are new in Office Accounting 2007.

Module 2: Upgrade and Installation

This module explains how to install Office Accounting 2007 and how to upgrade from Microsoft Office Small Business Accounting 2006.

Lessons

  • Step-by-step Installation.
  • Upgrading from Office Accounting Express to Office Accounting Professional.
  • Upgrading from Small Business Accounting 2006 to Office Accounting Professional 2007.
  • System Requirements.

After completing this module, students will be able to:

  • Install Microsoft Office Accounting 2007
  • Upgrade from Microsoft Office Accounting Express to Office Accounting Professional
  • Upgrade the company database from Microsoft Office Small Business Accounting 2006 to Microsoft Office Accounting Professional 2007

Module 3: Setting Up a New Company

This module explains how to set up a new company in Office Accounting using the company setup wizard.

Lessons

  • Company Setup Wizard in Office Accounting Express.
  • Company Setup Wizard in Office Accounting Professional.
  • Optional Sections of the Company Setup Wizard.
  • Updates to Office Accounting 2007.

Lab : Setting up a new company

  • Using the Office Accounting Express company setup wizard.
  • Using the Office Accounting Professional company setup wizard.
  • Using the optional sections of the company setup wizard.

After completing this module, students will be able to:

  • Set up a new company in Office Accounting.
  • Understand the difference between the setup in Office Accounting Express and Office Accounting Professional.

Module 4: Importing data from QuickBooks and Microsoft Money

This module explains how to import existing company data from Intuit QuickBooks or from Microsoft Money.

Lessons

  • Importing Data from QuickBooks.
  • Importing Data from Microsoft Money.

After completing this module, students will be able to:

  • Use the QuickBooks import wizard to import transactional data from QuickBooks.
  • Use the QuickBooks import wizard to import master records from QuickBooks.
  • Use the Money import wizard to import data from Microsoft Money.

Module 5: Basic Accounting and Company Management

This module explains how to use the company section of Office Accounting including setting up financial accounts, the chart of accounts, the account register, creating journal entries and editing company preferences.

Lessons

  • What is accounting?
  • Accrual and Cash basis accounting.
  • Accounts and Documents.
  • Financial Accounts.
  • The Chart of Accounts.
  • The Account Register.
  • Journal Entries.
  • Company Lists.
  • Company Information.
  • Company Preferences.
  • Fiscal years.

Lab : Basic accounting

  • Using the chart of accounts and the account register.
  • Creating a journal entry.
  • Viewing company preferences.

After completing this module, students will be able to:

  • Navigate the company area of Office Accounting.
  • Use the chart of accounts and the account register.
  • Create journal entries.

Module 6: Customers and Sales Flow

This module explains how to navigate the customer area in Office Accounting and how to create customer documents as well as explaining the details of the customer form.

Lessons

  • The Customer Area.
  • The Sales Flow.
  • The Customer Form.
  • Customer Documents.
  • Customer Lists.
  • How Do I…?

Lab : Sales Flow

  • Creating a new customer.
  • Creating a quote.
  • Converting the quote to an invoice.
  • Receiving payment.
  • Customer history.

After completing this module, students will be able to:

  • Understand the sales flow.
  • Create a new customer.
  • Create a quote, sales order, invoice, and cash sale.
  • Receive a customer payment.
  • Understand how customer history is preserved.

Module 7: Vendors and Purchase flow

This module explains how to navigate the vendor area of Office Accounting as well as how to set up vendors and how to create vendor documents.

Lessons

  • The Vendor Area.
  • The Purchase Flow.
  • The Vendor Form.
  • Vendor Documents.
  • Vendor Lists.

Lab : Purchase flow

  • Understanding the purchase flow.
  • Creating a new Vendor.
  • Creating a purchase order.
  • Receiving items and creating a bill.
  • Paying bills.
  • Vendor history.

After completing this module, students will be able to:

  • Navigate the vendor area in Office Accounting.
  • Understand the purchase flow.
  • Create purchase orders, item receipts, bills and cash purchases.
  • Pay bills and issue payments.
  • Understand how the vendor history is preserved.

Module 8: Items and Inventory Management

This module explains how to create different item types in Office Accounting, how item pricing works and how the different items types affect cost and inventory.

Lessons

  • Item Types.
  • Item Pricing.
  • Managing Inventory.
  • Inventory Valuation.

After completing this module, students will be able to:

  • Understand the difference between item types.
  • Use item pricing effectively.
  • Manage inventory.
  • Understand the FIFO model for inventory valuation.

Module 9: Banking in Office Accounting 2007

This module explains how to navigate the banking area of Office Accounting, how the baking flow works, how to create different banking document, setting up and using online baking and how to reconcile a bank account.

Lessons

  • The Banking Area.
  • Banking Flow.
  • Banking Documents.
  • Online Banking.
  • Bank Account Reconciliation.

Lab : Banking

  • Making a deposit.
  • Writing checks.
  • Reconciling a bank account.

After completing this module, students will be able to:

  • Navigate the banking area.
  • Understand how the banking flow works.
  • Make deposits and write checks.
  • Understand the benefits of online banking and the differences between the two methods of online banking.
  • Reconcile bank accounts.

Module 10: Employees and Payroll

This module explains how to navigate the employee area of Office Accounting, understand the employee flow, set up employees, create employee documents, and the benefits of using small business payroll.

Lessons

  • The Employee Area.
  • The Time and Payroll Flow.
  • The Employee Form.
  • Employee Documents.
  • Payroll.

After completing this module, students will be able to:

  • Navigate the employee area.
  • Understand the employee flow.
  • Create new employees.
  • Create time sheets, time entries and employee reimbursements.
  • Understand the benefits of small business payroll.

Module 11: Online Sales

This module explains how to set up your business to sell on eBay, how to list on eBay, how to download listings, how to send online invoices and how to download PayPal payments.

Lessons

  • Setting Up your Business.
  • Listing Items to a Marketplace.
  • Manage Online Sales.
  • Downloading Orders and Fees.

Lab : Listing on eBay

  • Listing an item on eBay
  • Viewing the eBay listing
  • Creating a PayPal invoice

After completing this module, students will be able to:

  • Set up his or her business to sell on eBay.
  • List items on eBay.
  • Manage eBay listings.
  • Download auctions.
  • Issue invoices with PayPal link.
  • Download PayPal payments.

Module 12: Reporting

This module explains how the reporting framework works, what the individual reports in Office Accounting contains and how to customize reports.

Lessons

  • Reporting Framework.
  • Reports in Office Accounting.
  • Customizing Reports.

Lab : Reports

  • Using the reporting framework.
  • Exporting reports to Excel.
  • Customizing and saving reports.

After completing this module, students will be able to:

  • Use the reporting framework to run reports.
  • Export reports to Excel.
  • Customize reports.
  • Save custom reports for later use.

Module 13: Office Integration

This module explains how to set up and use integration with Outlook with Business Contact Manager, print documents in Word and export lists and reports to Excel.

Lessons

  • Outlook with Business Contact Manager.
  • Word Integration.
  • Excel Integration.

Lab : Outlook with Business Contact Manager Integration

  • Setting up Business Contact Manager integration.
  • Using Business Contact Manager integration.

Lab : Word and Excel integration

  • Printing invoices in Word.
  • Emailing Word invoices.
  • Writing letters to customers.
  • Exporting lists to Excel.

Lab : Customizing Word invoices

  • Changing the company logo on invoices
  • Adding fields to invoices

After completing this module, students will be able to:

  • Set up integration with Business Contact Manager.
  • Create quotes, sales orders and invoices from Business Contact Manager.
  • Create time entries from Outlook appointments.
  • Submit billable tasks and appointments.
  • Run reports from Business Contact Manager.
  • Print Word quotes, sales orders, invoices and purchase orders.
  • Email word documents.
  • Write letters to customers, vendors and employees.
  • Customize quotes and invoices in Word.
  • Export lists and reports to Excel.

Module 14: Working with Your Accountant

This module explains how to send and receive accounting data from your accountant, how to use the accountant view, how online collaboration works, as well as the benefits of the Microsoft Professional Accountants Network (MPAN).

Lessons

  • Accountant Transfer Tool.
  • Accountant View.
  • Setting up online collaboration.
  • Other tools for accountants.

Lab : Accountant transfer tool

  • Sending the books to your accountant.
  • Creating invoices with restrictions.
  • Cancelling the transfer.

After completing this module, students will be able to:

  • Use the accountant transfer tool to send and receive their financial data from their accountant.
  • Use Office Accounting when the accountant transfer exists.
  • Cancel a transfer.
  • Use the accountant view
  • Understand the benefits of MPAN.

Module 15: Sales Taxes

This module explains how to set up sales taxes in Office Accounting in order to collect and file taxes to the applicable tax agencies.

Lessons

  • Setting up Sales Tax.
  • Collecting Sales Taxes.
  • Filing and Paying Sales Taxes.

Lab : Sales taxes

  • Setting up sales taxes
  • Collecting taxes
  • Cash and accrual tax filing

After completing this module, students will be able to:

  • Set up tax agencies, tax codes, tax groups, items tax codes and tax lines.
  • Collect sales taxes on customer transactions.
  • Understand cash and accrual sales tax filing.
  • Pay sales taxes.

Module 16: Managing Jobs

This module explains how to enable jobs; use the job form; tie customer, vendor, employee, and banking documents to a job; invoice jobs; and understand job profitability.

Lessons

  • Enabling jobs.
  • The Job form.
  • The job list.
  • Job quotes.
  • Tracking job costs.
  • Job invoices.
  • Job reports.
  • Job profitability.

After completing this module, students will be able to:

  • Enable the job feature in Office Accounting Professional.
  • Create jobs.
  • Use the job list.
  • Create fixed fee and time and materials quotes for jobs.
  • Invoice jobs.
  • Progress invoice job quotes.
  • Record items, expenses and time used on jobs.
  • Understand job profitability.
  • Run job reports.

Module 17: Customization

This module explains how to customize Office Accounting by adding fields, renaming fields, changing form layout, customize lists, and use custom fields on other documents.

Lessons

  • Adding custom fields.
  • Customizing form layout.
  • Printing custom fields.

Lab : Customization

  • Customizing the customer form.
  • Changing the customer form layout.
  • Adding customer fields to the invoice.

After completing this module, students will be able to:

  • Add custom fields to forms.
  • Customize form layout.
  • Add customer fields from master records to documents.
  • Customize lists.
  • Print custom fields

Module 18: Using Foreign Currency

This module explains how to enable and use foreign currency in Office Accounting Professional as well as how foreign currency accounting works.

Lessons

  • Enabling Foreign Currency.
  • Working with Foreign Currency.
  • Foreign Currency Postings.
  • Currency Adjustment - Unrealized Currency Gain or Loss.

After completing this module, students will be able to:

  • Enable foreign currency.
  • Create new currencies.
  • Create foreign currency customers, vendors and bank accounts.
  • Change the exchange rate.
  • Create transactions in foreign currency.
  • Understand foreign currency accounting.
  • Create currency adjustments.

Before attending this course, students must have:

  • Basic knowledge of accounting.
  • Basic knowledge of using Microsoft Windows XP or Windows Vista.
  • Basic working knowledge of Microsoft Office Word and Excel.

Guaranteed to Run

2018-03-20 09:00 to 2018-03-23 17:00
Palm Beach County Florida (Instructor-Led)
2018-03-19 09:00 to 2018-03-23 17:00
Secaucus, New Jersey (Virtual Instructor-Led)
2018-03-01 09:00 to 2018-03-02 17:00
Palm Beach County Florida (Instructor-Led)

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