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QuickBooks, MYOB AND Xero Certificate in Bookkeeping Basics Course *NOW DISCOUNTED*

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Are you transitioning to a career in accounting and bookkeeping or need to get your head around what bookkeeping work involves? This bookkeeping course is designed for you.

MYOB was once the market leader in Australia but that changed since Xero launched and focused 100% on becoming an online accounting program.

In the background Intuit took over the distribution of their QuickBooks software in Australia (away from Reckon, who now have their own accounting software) and offered QuickBooks Online directly – they also recently purchased Mailchimp!

All of these brands offer online accounting software and you can now learn how to perform the common bookkeeping tasks using all the leading brands.

Continue reading QuickBooks, MYOB AND Xero Certificate in Bookkeeping Basics Course *NOW DISCOUNTED*
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Will Intuit Make Much More Money with MailChimp than QuickBooks?

Mailchimp Email Marketing Training Courses - will Intuit make more money than with accounting software - EzyLearn Career Academy

We use Mailchimp for our email marketing and I had to sit down and have a cup of tea after looking at our recent payment! There was no shock increase in costs or monthly fees and in fact everything is working perfectly but I realised how much money MailChimp make as our customer and prospect list grows in size.

Could you imagine paying extra for Xero or MYOB software just because the number of transactions increased? And I don’t mean a couple dollars extra, I mean double the monthly fee!

I also noticed that MailChimp is now already integrated into the QuickBooks Online software for all businesses to access. Here’s what it looks like.

Continue reading Will Intuit Make Much More Money with MailChimp than QuickBooks?
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QuickBooks Payroll brand is changing to Employment Hero

Employment Hero owns KeyPay - workforce management training courses and employee benefits, loyalty and team building - EzyLearn

Intuit revealed the name change to their QuickBooks Payroll customers today as part of an acquisition of KeyPay owner by Employment Hero.

If all that didn’t make sense the only real change here is that KeyPay will be rebranded as Employment Hero. Employment Hero has been around since 2014 and purchased KeyPay owner, Webscale Pty Ltd in 2021.

The messy part of this from my perspective is that Intuit, who owns Tsheets is now depending on Employment Here for their payroll solution. It also means that we now have an Employment Hero training course 🙂

Continue reading QuickBooks Payroll brand is changing to Employment Hero
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Deputy, KeyPay, Square Teams, QuickBooks Time Training Course NOW Available

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These are the market leading workforce management integrations for rostering, scheduling and time and attendance monitoring. Deputy was one of the first but the major accounting software companies are now snapping them up.

The most interesting story here has been KeyPay. I’ve loved the fact that Intuit partnered with the Australian company KeyPay to provide all of the local Australian payroll functionality in their QuickBooks Online software. Tsheets would also have been in this list but you know what happened to them..

Continue reading Deputy, KeyPay, Square Teams, QuickBooks Time Training Course NOW Available
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NEW “Bookkeeping Basics” Training Course Covers Beginner Level Xero, MYOB & QuickBooks Online

bookkeeping-basics-training-course-for-Xero, MYOB and QuickBooks online cover-300x201 EzyLearn Bookkeeping Career Academy

Bookkeeping is an essential part of business, not just to keep track of financial activities for the business’ sake, but also to meet obligations from the ATO.  It’s nothing ground-breaking to highlight the importance of bookkeeping, but lots of businesses might start operating without considering the necessity of bookkeeping. 

If you’re a business owner who doesn’t have a background in accounting or bookkeeping, then you’ll want to learn at least the basics quickly – even if you intend to hire accounts staff, it’s great to understand the bookkeeping tasks that need to be completed.

EzyLearn has you covered with out new Bookkeeping Basics Training Course.  Let’s break down how you’ll learn the foundational aspects of bookkeeping with this course:

Continue reading NEW “Bookkeeping Basics” Training Course Covers Beginner Level Xero, MYOB & QuickBooks Online
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Intuit (QuickBooks) Buys Mailchimp! – Marketing Will Finally Speak to Accounts.

Intuit (the maker of QuickBooks, an online accounting software for small-businesses) has recently announced a new purchase that could see them breaking into the ERP world of business software. Mailchimp is now owned by Intuit!

Although they’re not huge in Australia, Intuit is trying to compete with the likes of Xero, whose add-on software integrations have extended its functionality and made Xero a powerful business administration system for Aussie small businesses.

Mailchimp is a marketing automation platform for small businesses and ecommerce, mainly focused on email marketing campaigns. I wrote a couple years ago about how digital marketing tasks seem to be creeping into the job descriptions for office support and admin staff.

Let’s have a look at what Intuit’s acquisition of the world’s largest marketing automation platform means:

Continue reading Intuit (QuickBooks) Buys Mailchimp! – Marketing Will Finally Speak to Accounts.
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Want FREE accounting software? Tell QuickBooks you’re going to become a contract bookkeeper

MYOB Certified Consultant Partner Program - EzyLearn Online Training Courses in MYOB AccountRight and MYOB Essentials

Free accounting software is no longer a marketing tactic that software companies can apply to get new users. We saw that in the recent exit of Wave Apps from the Australian market and Reach Accounting going broke several years ago but there are ways of getting cheap or FREE access to QuickBooks Online.

Trench warfare between the major accounting firms is never really apparent unless you’re a bookkeeper and you visit their offices and learn about what is really going on to win the hearts of bookkeepers and accountants. 

Continue reading Want FREE accounting software? Tell QuickBooks you’re going to become a contract bookkeeper
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Xero will win the struggle against QuickBooks. Here’s how.

Hubdoc from Xero for receipt scanning and data extraction for receipts and expenses via email - online Xero Training Courses

Both Intuit (QuickBooks Online) and Xero Accounting had a price increase in the last year but the way they went about announcing it was completely different.

When you study the emails you’ll see why good marketing can make a massive difference in the success of your business!  QuickBooks email included..

Continue reading Xero will win the struggle against QuickBooks. Here’s how.

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UPDATE: Xero, MYOB and QuickBooks Training Course Content

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Continuous Development is a software concept that is also known as Agile Development. As software users we’ve only really experienced this in the last decade or so as we deal with accounting programs like MYOB Essentials, Xero Accounting and QuickBooks Online constantly being updated. 

Here’s an example of what MYOB needed to go through to migrate their MYOB Tax software into the Amazon Web Services system

The good news for EzyLearn students is that we update our training materials every month and you get it as part of our Update policy! Here are some recent changes we’ve made.

Continue reading UPDATE: Xero, MYOB and QuickBooks Training Course Content
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Discount Coupon Code: Bookkeeping Academy – MYOB & Xero & QuickBooks & Reckon

Xero Course, MYOB Course, QuicBooks Course - COMPLETE Suite Training & Support - Bookkeeping Academy

End of financial year 2020, Covid19 still wreaking havoc around the world, shopping centre and even main street strip shops closed! This is the weirdest time of our lives for sure. We’ve also noticed a big increase in the number of students enrolling on the $20 per week payment plans for courses

This announcement is for those in the bookkeeping industry who’ve trusted us for the last 2 decades (and a bit) to provide great quality pre-accredited bookkeeping courses in MYOB, Xero, QuickBooks and Microsoft Office. 

Continue reading Discount Coupon Code: Bookkeeping Academy – MYOB & Xero & QuickBooks & Reckon
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Xero & QuickBooks Slug it out on Receipt Scanning Features

Xero Accounting Pricing Comparison shows extra for Projects and Expenses - Online Training Courses & Advanced Xero Certificate

I find it interesting to see the messages coming from both these companies. They seem to arrive at similar times and it shows that they are very closely watching each others digital marketing messages and fighting for your attention by revealing what they are doing for you, their clients. 

This week Xero sent a message about cashflow forecasting and QuickBooks sent a message about their receipt scanning and data capture but which one is more important right now? I’ve attached the email message sent from each company for you to compare.

Continue reading Xero & QuickBooks Slug it out on Receipt Scanning Features

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ALERT: QuickBooks Online Training Courses Updated

Updates & new online training course content for QuickBooks Online vs Xero training - EzyLeran

Xero, QuickBooks and MYOB are updating their software with new features every month! That’s what you get with cloud-based software that is continuously updated and improved.

We’ve recently updated our Xero Accounting software courses and have just published an updated to our QuickBooks Online Daily Transactions & End of Month training Courses. Continue reading ALERT: QuickBooks Online Training Courses Updated

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Migrating Away from MYOB AccountRight to Xero or QuickBooks

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Changing accounting systems for an established business is like changing banks. You need to make sure all your new services and accounts are setup and working correctly and then change all your paperwork and systems to make sure the old ones aren’t used any more. Then you’ve got to let everyone who needs to know, know.

It’s easy to say but a fair bit harder to do but more and more companies are making the change from MYOB to Xero. Here’s what we’re building to help

Continue reading Migrating Away from MYOB AccountRight to Xero or QuickBooks

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Inventory and Stock is more beautiful using QuickBooks than Xero

Inventory Tracking lacking in Xero but Xero Training Courses can help - these are the Xero Inventory Apps in their apps market

In 2015 I wrote about Xero’s inventory management when it was released and how important it was to make it competitive with MYOB AccountRight. These days however it seems that Xero hasn’t done much more and they’re a bit behind Intuit’s QuickBooks Online which has a lot of inventory and stock management features. 

I’ll explain and drill down a bit.. Continue reading Inventory and Stock is more beautiful using QuickBooks than Xero

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Announcement: MYOB, Xero and QuickBooks Training Manuals now available for sale

Get hired for data entry and accounts payablereceivable jobs with MYOB, Xero & QuickBooks skills

Finally, after 23 years we’re making our training manuals available for sale! Not the ones we created 23 years ago but our latest versions of course. 

Training manuals are an important learning tool for our courses because they contain the step-by-step exercises that the course is based around. Our first release of training manuals covers credit management, accounts receivable, accounts payable, data entry of quotes, invoices, purchases and payments – all the things that most businesses need. 

Purchase yours now and download them instantly. 

Continue reading Announcement: MYOB, Xero and QuickBooks Training Manuals now available for sale

QuickBooks Online Daily Transactions & Credit Management Training Workbook

Intuit QuickBooks Online Training Course Manual & Workbook - Data Entry, Accounts Receivable & Payable-sml

Customise MYOB item and service invoice forms

Inventory Items: Our Case Study

Our online course case study involves the purchase of numerous Cisco IP phones. We enter the product information as well as the wholesale cost and retail sales price, plus the following accounts in the accounts list:

  • Cost of Sales accounts (to keep track of our product costs)
  • Income Account for tracking sales, and
  • Asset Account for tracking inventory assets.

At the point of creating these inventory items, we also decide whether our prices include or exclude GST when they appear on the purchase order and the invoice. This is an important step when you consider how you present the prices of the products you sell.
For instance, do you show customers the price excluding GST and then show the GST amount as a total for all products/services?

Customer and Supplier Cards

After creating our inventory items, we create suppliers and then purchases of our inventory items. At this stage you can allocate default settings for each card, like:

  • Expense Account
  • Purchase Memo and Comments
  • Supplier Terms and more…

Purchases

The wholesale supplier provides us with ex-GST prices in their price list so we ensure that QuickBooks is setup for us to enter these purchases using the ex-GST price. QuickBooks also enables us to keep track of the entire purchase process of:

  • Quoting
  • Ordering Items
  • Received Items
  • Bills

After the Purchase Order is placed we look at the data entry process of receiving items when they physically arrive in our warehouse, linking this arrival of stock to the Trade Creditors account. Remember that it’s not until we physically receive goods that we owe the money for them.

It’s quite normal in real life that not all inventory items arrive at the same time. Therefore we take you through the scenario of receiving some items and having the remainder placed on back order, and explore the purchase register for evidence of purchases with different statuses like:

  • Open
  • Order
  • Closed

Once you have supplier invoices you have accounts payable and we explore how to pay for these invoices. We explore full and part payments as well as accounts payable reports, vendor payment terms, and ageing periods.

Sales

The first part of the sales process is to offer your products and services for sale. Where a full solution of products and services is required, the first step is usually to provide the prospective customer with a quotation — something which Quickbooks enables you to do. What’s fabulous about this feature in QuickBooks is that you then only need to enter the quotation once and send it to your prospect. When the order is placed the quote can very quickly be converted to an invoice. Our online course will take you through all of these steps in a practical exercise.

This process of being able to quote up front makes things much faster and easier than, say, providing a quote in Word or Excel and then having to re-enter all the data into Quickbooks for invoicing.

When a company sells its products and services the important process of debt collection begins — almost immediately. Every invoice goes out with the selling terms indicated and can include:

  • Prepaid
  • COD
  • Nett 7 days
  • 7 Days after end of month (EOM) etc.

The management of cash flow is integral to the success of any business, large or small. If you have already paid for products, paid your employees and paid all the other expenses relating to a sale, then you naturally want to get your money back as soon as possible.
Quickbooks enables you to set payment term at three levels:

  • System default
  • Customer level
  • Transaction level

Credit Management

This course takes you through payment terms, accounts receivable reports (showing ageing periods) and the sending of monthly statements. However, even after the monthly statement is sent a company can experience difficulty receiving payments from customers and need to resort to actively chasing up money owed. Our Credit Management Guide is included as part of this course.

Creating and Applying Credits

In the event that fewer products were supplied, or the installation took half the time expected, you may want to credit your customer. The course shows you how to create a credit and apply it to the invoice where it should be applied, to or a new invoice.

Receiving Payments and Banking

Payments can be received in one large transaction or bit by bit and Quickbooks helps you keep track of every single payment. The course takes you through several different scenarios.

We introduce the concept of different asset accounts apart from just your bank account. If you want to get into the nitty gritty of bookkeeping you need to create an asset account for every step of the movement of cash. These asset accounts include:

  • Accounts Receivable (money owed to you)
  • Undeposited Funds (money you have that is yet to be banked)
  • Bank Account (cash you have)

We cover the process of receiving payments into the Undeposited Funds account and then move these funds into the bank account on the day they are deposited. This step appears onerous at first glance, but we include it because it helps reduce a lot of time in the bank reconciliation process where all you see is deposits into your bank account.

This concept is also used when you use payment services like PayPal and Direct Debit.

Cash-Based and Accrual Accounting

The Quickbooks Online Daily Transaction Course is designed to give you skills relating to cash-based accounting as well as accrual accounting. The difference is that cash-based accounting relates only to money you have in your bank account and money you have spent. Accrual accounting is based on money that is owed to you, and that you owe, even though it may not be in the company bank account at the time of reporting.

Reporting

This is an important time to consider how you want your reports to be generated and what you want them to show.

We include services on the invoice and enter them as stock items in the Quickbooks inventory and sales reporting to get some excellent information about the performance of the business.