• Getting Comfortable with Your Financials using QuickBooks - SBA

    June 09, 2021
    This QuickBooks workshop is geared to helping those already in business as well as those just starting out.

    About this event
    One thing the pandemic taught many businesses is the importance of having an accounting system and greater command of their financial statements especially when applying for COVID funding.

    Session I – 9:00 AM – 11:00 AM (HST):
    Business Foundations and Getting On-Board with QuickBooks

    This QuickBooks workshop is Session I of a two-part series being presented on June 26, 2021. If you are a business owner who would like to have better command of your business financials or if you are contemplating starting a business, and not sure how to understand your financials and how to financially manage your business, the two sessions would be beneficial for you.

    In this session we will cover:
    • Understanding the Different Types of Entities: LLC, Sole Proprietorship, Partnership, S Corp, C Corp
    • Which Entity is right for you
    • What are the different types of taxes I need to plan for?
    • What is GE tax, and how is it paid?
    • What is accounting?
    • What is the difference between a bookkeeper, accountant, CPA, EA, CMA, or CFO?
    • How should I be keeping my books?
    • What’s deductible vs what should I be tracking?

    Session II – 12:00 PM – 2:00 PM (HST):
    Taking a deeper look into QuickBooks for Your Business

    This QuickBooks workshop is Session II of a two-part series being presented on June 26, 2021. It will take the deeper looking into QB. So, if you are a business owner who would like to have better command and understanding of your business financials and/or how to financially manage your business, this session would be beneficial for you.

    • What are the different versions of QuickBooks, and which one do I need?
    • When do I need payroll?
    • How to setup my QuickBooks file (Chart of Accounts)
    • How to setup the Products & Services
    • How to use Invoices, Sales Receipts, Receive Payments, and Bank Deposits
    • How to record different expenses
    • How to integrate the Banking Downloads?
    • How to setup Merchant Services
    • How to add other Apps and Add-Ons
    • How to read Reports for historical information and forecasting
    o Profit & Loss Standard
    o Profit & Loss Comparative
    o Balance Sheet
    o Balance Sheet Comparative
    o Open Invoice
    o A/R Aging
    o Unpaid Bills

    • How to create and share custom reports and add users

    So, if you feel you don’t understand what you are supposed to do monthly, quarterly, and annually, you should take this opportunity. If you are interested in moving your business from paper file to electronic files to start forecasting rather than dealing with just “results”, you should take these sessions.

    Open to everyone.
    NO COST.
    Registration required.

    VBOC of the Pacific is funded in part through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, conclusions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.
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