This document summarizes an introductory workshop on Quickbooks presented by Mark Engle. The workshop covered why accounting is important for a business, whether to hire an accountant, how to set up Quickbooks, key features like the chart of accounts and financial statements, and next steps like using SBDC labs. The goal was to help new business owners understand basic bookkeeping and how Quickbooks can help manage their finances.

1. Intro to Quickbooks Workshop
Presented by:
Mark Engle, Director
MCCD Small Business Development Center
2400 N. Central Avenue, #104
Phoenix, AZ 85004
480-784-0590

2. Intro to Quickbooks
• Introduction of Speaker
• Rules for the seminar
– Meet your SBDC
Counselor
– Q&A for end
– Evaluations

3. Why Accounting?
• Taxes
• Profit or Loss?
• Selling the Business
someday…
• Last but not least for
Managing the Business!
(Managing by the
numbers)

4. Should I hire an
accountant?
• What is your time
worth?
• Would you do your
own dentistry or
legal?
• Getting help to start
• Bookkeeping vs.
Accounting

5. Where do I begin?
• Keeping track of
expenses
• Receipts & Logs
• Separate accounts for
business & personal
• Shoe Box Accounting is
expensive in the long run

6. General Recordkeeping
• Revenue & Expense Records
– Vendor Center
– Employee Center
– Customer Center
– Petty Cash
• Balance Sheet
– Inventory Tracking
– Fixed Assets
– Accounts Payable (bills)
– Accounts Receivable (credit sales)

7. General Recordkeeping
• Mileage, Entertainment,
Travel
• Payroll Accounting
• Customer Lists & Records
• Financial Statements:
– Income Statement
– Cash Flow
– Balance Sheet

8. Where to Start with
Quickbooks
• Chart of Accounts
– Number your accounts
– Control who creates accounts
– QB’s help can help!
• Setup Vendors, Customers &
Employees through Use

9. The Financial Statements
• Balance Sheet
• Income Statement (P&L)
• Monitoring performanc
– Monthly for P&L
– Compare to budget
• Cash Flow Statements

10. Other Considerations
• Recordkeeping Schedule
• Tax schedules
• Records retention
• Do you really need
Quickbooks??

11. When You Have
Employees
• Legal Considerations
• Costs involved in
bookkeeping
• Penalties are severe for non-
payment of taxes
• Have separate payroll account
and deposit for employee and
employer weekly

12. Accounting Policies
• #1 – Accounts Payable
• #2 – Budget & Cost Controls
• #3 – Cash Flow Management
• #4 – Reimbursements

13. Where to go from here
• SBDC Open Labs for video
tutorial and try the program
• Get professional help
• Have controls in place for
accounting systems
• Use financial statements to
make your business succeed!

14. Intro to Quickbooks
Presented by:
Mark Engle
Director
Maricopa Community Colleges Small
Business Development Center
2400 N. Central Avenue, #104
Phoenix, AZ 85004
480-784-0590
www.maricopaSBDC.com