Childcare: Unraveling the Mystery of Good Finance Keeping

This 4-hour class focuses on what it means to be a Finance Keeper and maintain a good set of books using proper Finance Keeping principles.

On Day 1, we explore selecting a system and learn how to set-up a Chart of Accounts (COA). We look at the various QuickBooks (QB) plans and programs available and talk about how to select the right one. Then, we dive right into the heart of the system, the COA, and study the basics of account structure and financial reporting.

On Day 2, we explore possible QB interfaces with external systems like payroll and POS applications, spend some time on the proper use of spreadsheets, and examine the common pitfalls related to tagging or coding accounts. We talk about the “Gotchas” that can literally turn a good set of books into a great big mess. And finally, we wrap it all up with a discussion about how to close the books monthly using a checklist.

By the time you finish this course, you will understand the fundamentals of a good financial reporting system, why it’s important, and what it takes to manage a system like this.