Tag Archives: accounting software

QuickBooks Desktop (Windows) or QuickBooks Online? What Is the Difference?

By Pat Hartley, MBA

I am asked almost daily, “What is the difference between QuickBooks for the desktop and QuickBooks Online?” Or “Are they different?” Or “Aren’t they the same?”

To give an answer is to be put in a quandary. You may as well ask, “What is the difference between the Windows operating system and the MAC operating system?” They both do the same thing – operate our computers – just differently!

Intuit’s QuickBooks desktop software has been one of the staples of accounting software for small- to mid-sized businesses since the late 1990s. It has grown, and new-and-improved features and images have been updated annually since then. Businesses and accounting professionals have become comfortable with QuickBooks for the desktop. Still, Intuit has recently increased its emphasis on and resources for QuickBooks Online, a different accounting software product. It does the same thing that QuickBooks for desktop does – our accounting – just differently!

QuickBooks Online is not a copy of the QuickBooks desktop software that has simply been enabled for the web. QuickBooks Online is new and different! Below are some features found in QuickBooks Online that you won’t find in QuickBooks for the desktop.

  • Remote access – You have access to the software anywhere on any device that is web-enabled.
  • Automatic Daily Bank Feeds for bank and credit card accounts.
  • Automatic updates – QuickBooks Online is updated frequently, and you’re always on the most current version.
  • FIFO inventory valuation
  • Location tracking, which is a second level of class tracking.
  • Invoice automation – You can automatically create an invoice from unbilled activity.
  • Delayed charges and billing
  • Allows more than one Accounts Receivable or Accounts Payable on a single journal entry
  • Report automation – You can schedule reports to be sent automatically.
  • Activity Log – Allows you to view login dates and times

These are just some of the features that I use, and there are many more. Each month more features and improvements are made. There is truly a big difference in the general workflow.

QuickBooks for the desktop has some robust features that I miss in QuickBooks Online, like the multitude of reporting options and a more extensive inventory-management feature. However, QuickBooks Online has added features every day, noted on a monthly blog for users.

Below is a comparison, provided by Intuit, of a few key features between the two types of software. It’s a good idea to analyze your business and how it functions to make the best choice. You can even take a test drive of QuickBooks Online. Good luck!

qb online

 

 

Pat Hartley is a Top 100 QuickBooks ProAdvisor 2015, an Advanced Certified QuickBooks ProAdvisor, an Advanced QuickBooks Online ProAdvisor, and a member of Intuit’s Trainer/Writer Network. Pat teaches courses on QuickBooks at multiple colleges and runs her own business, www.accountingonthego.com. She is author of the Labyrinth Learning textbook, QuickBooks Pro 2015, and is currently authoring Labyrinth’s QuickBooks Online title.

Sleeter Certified QuickBooks Consultant

Member National Advisor Network

The Promising Future of Accounting

future of accounting
Source: FreeDigitalPhotos.net

Trying to decide what area to study when going to college can not only be difficult, it can be downright scary. All you have to do is look at the economic landscape – many college graduates are struggling with repaying their massive student loans as well as in trying to secure employment in their chosen field of study. Fortunately, those who are studying to become accountants can feel safe in the knowledge that the future of accounting looks bright.

The new wave of accountants entering the job market have a lot to offer, so it should come as no surprise that they are excited about their future. Accounting students were recently asked about their thoughts concerning the future using Conferences.io, an interactive conference participation software, as well as MBSN (management by sticky notes). Accounting students were also asked what they wanted from their future employers.

Using the Insights to Action process, accounting students provided questions as well as comments on everything from the history of the profession, the future of the profession and the current state of the profession. Much of the information from the presentation was recorded or filmed and has been organized by hindsight, foresight, and insight categories.

Find out what accounting students think about the future of accounting and what they expect from their accounting careers and employers. For additional information on accounting and for information about our educational products and services, be sure to contact us at Labyrinth Learning today.

Join us at one of Our October 2014 Educator Conferences

2014 Educator Conferences
Source: Facebook.com/labyrinthlearning

At Labyrinth Learning, we aim to transform classrooms by providing materials that make it easier for instructors to teach, and easier for students to learn. If you’re interested in learning more about our mission and the steps we are taking to achieve it, consider attending one of our 2014 Educator Conferences.

We are going to be attending several conferences coming up this fall. Find the one that’s nearest to you, and make plans to attend today.

  • October 12th – 13th: Hot Springs, Arkansas
  • October 15th-17th: Acme, Michigan
  • October 23rd-25th: Minneapolis, Minnesota
  • October 30th – 31st: Pittsburgh, Pennsylvania
  • November 6th – 9th: Baltimore, Maryland
  • November 20th – 23rd: Orlando, Florida

At each of these conferences, we will have a display set up and knowledgeable staff present to answer all of your questions about our software and learning programs, and how they can benefit both you and your students. Take the time to read about Labyrinth Learning’s growth over the last few years, and look over some of our materials. You can also order review copies to see for yourself whether our materials are the teaching solution you’ve been looking for.

Conferences are a great way to spread new ideas and rehash older ones. We’re happy to be a part of these events. You can see our 2014 Educator Conferences schedule on our website. Contact us if you are interested in giving our materials a try or to learn more about our mission.

Take Advantage of Our Comprehensive QuickBooks Pro 2014 Set

QuickBooks Pro 2014Learning (and teaching) QuickBooks has never been easier than with the QuickBooks Pro 2014: Comprehensive Set. This package includes everything your students need to learn QuickBooks and utilize its applications in real world settings. Built for the benefit of both the student and the instructor, QuickBooks Pro 2014 gives you the resources you need to reduce prep time and create the most effective instruction sessions.

At Labyrinth Learning, we love the QuickBooks Pro 2014 set for the following reasons:

  • A “Behind the Scenes” feature makes connections to accounting principles, giving your students a better understanding of the way that QuickBooks works.
  • The material has been approved for the QuickBooks Certified User Program, so your students can enter their exams well prepared.
  • The new, expanded payroll section in QuickBooks 2014 offers more detailed instructions for entering payroll from an outside source than precious versions.

As an instructor, you are bound to find QuickBooks Pro 2014 convenient and effective. Several features serve to simplify the instruction process, so you can spend more time addressing students’ questions and less time fumbling with software:

  • An included e-lab license gives you access to pre-built course material which you may choose to use.
  • The e-lab grading tool allows you to upload student assignments for instant assessment. You can also manage grades with e-lab.

If you’re interested in learning more about QuickBooks Pro 2014: Comprehensive Set, as well as our other software instruction packages, contact us at Labyrinth Learning.

Teach Students the History of Accounting

history of accounting
Source: FreeDigitalPhotos.net

Accounting is undoubtedly a very important field, but students sometimes struggle to become engaged with the material in their early accounting classes. A great way to increase interest in the subject is to start your Accounting 101 class with a discussion of the history of accounting. This discussion sets the stage to learn basic accounting principles, framing the subject matter in a light that is more likely to hold student attention.

A one-class discussion of the history of accounting could include the following high points:

The early use of double-entry bookkeeping by Venetian merchants

This system was first described by Luca Pacioli in the 1400s. He included in his description details about the use of debits and credits in ledgers. Today’s accounting systems still rely on these basic systems, and your students will be interested to know where they originated.

The rising need for advanced accounting systems during the Industrial Revolution.

Corporations were developed during this period, and more sophisticated accounting systems were needed to manage shareholders’ interests in firms.

The creation of the Securities and Exchange Commission in the 1930s.

When this commission was created, it became mandatory for publicly-traded companies to file reports with the SEC.

The Impact of the 2001 Enron scandal on the accounting industry.

Following this event, tougher restrictions were placed on consulting accountants to deter future scandals.

If you’re looking for a great way to teach your students the history of accounting, as well as its advanced applications, contact us at Labyrinth Learning.

How You Can Make Accounting Exciting for Students

making accounting fun
Source: FreeDigitalPhotos.net

How many times while teaching your accounting classes, you’ve looked around and your students are sitting there with glazed eyes, trying to appear interested in what you’re teaching? You can shake things up in your accounting classroom by including some of these fun and educational games to get and keep your students’ attention.

  • Bingo. Create bingo cards with a variety of questions. Students have to come up with the correct answer in order to cover spaces on their card.
  • Trivia. Everyone loves to play trivia and there are several different variations which can be played when it comes to making accounting fun. Divide students into groups or allow them to play individually. Then set questions up to be answered as true/false, multiple choice or open-ended.
  • Faux Reports. Develop a pretend company complete with fake records then have the students, again either in groups or separate, analyze the statements and financial records. Devise the game so a specific goal or solution has to be reached.

Labyrinth Learning offers textbooks, instructor support materials, eLab components and other interactive on-line teaching tools covering a wide variety of subjects, including accounting.

For additional information on how we can assist your students through their educational journey, please contact us today.

Teaching Payroll Accounting Using Microsoft Excel

using payroll accounting in Microsoft Excel
Source: FreeDigitalPhotos.net

Many businesses are continuing to use Microsoft Excel for accounting. This user-friendly program is perfect for everything from invoicing to bookkeeping to inventory spreadsheets. Many people have started using payroll accounting in Microsoft Excel because of its simple template setup. This template allows them to easily update and access payroll records and information. While there is a time investment at the beginning, the payoff is its ability to quickly determine the amount of revenue going toward human resources and the ease with which payroll accounting personnel can enter all necessary data.

Labyrinth Learning offers a complete package of Microsoft Excel 2013 textbooks, as well as online teaching tools for students beginning to explore this versatile program and those seeking to learn the more advanced features. We also have all three levels of the Microsoft Excel FastCourse available.

All our Microsoft Excel textbooks include end of lesson exercises which can be worked multiple times until the student feel comfortable with the tasks. The various online teaching tools include video tutorials, instructor assessment materials and specialized training tools. For those planning on using payroll accounting in Microsoft Excel in a more corporate setting, these textbooks and online tools are approved for the Microsoft Office Specialist certification examination.

Your students will be on the fast track to success when they learn the accounting features of Microsoft Excel. For more information on Microsoft Excel and other interactive teaching tools we have available, please contact us at Labyrinth Learning today.

Prepare Students for Your Course with The ABC’s of Accounting

resources for accounting teachers
Source: FreeDigitalPhotos.net

Accounting for beginners can be intimidating. However, our basic accounting course can easily reduce much of the stress and worry students often experience when learning something new.

The ABC’s of Accounting has been an excellent resource for students in years past, and now we are offering our newest textbook, Accounting Basics: An Introduction for Non-Accounting Majors. Just as with the first course, this textbook includes coverage of accounting practices including a standard accounting cycle.

Since this course is designed to teach basic accounting practices to students not working toward an accounting degree, the pace is slower and fewer in-depth topics are reviewed. The accounting cycle is initially introduced as an overview so students can get a general idea of what responsibilities a typical company accountant handles on a daily basis.

Our accounting for beginners course provides clear concise examples immediately after each new subject is introduced, giving students additional visual teaching tools. Plus, there is additional dialogue to ensure students not only understand how to perform a particular accounting procedure but the reasons behind the process.

The same fictional company is used throughout the course and each chapter includes two practice sets, an end of the chapter problem building off the previous chapter’s problem, and a wide range of all-inclusive learning projects so each student can begin to apply them to real-time scenarios.

Labyrinth Learning offers excellent interactive teaching tools for all levels of accounting instruction. Please contact us for additional assistance and product availability.

Unlock Your Students’ Potential with QuickBooks 2014 Webinar QuickBooks Webinar 2014

QuickBooks learning resources
Learn more about QuickBooks 2014 with our informative webinar!

Accounting departments from small firms to mid-sized corporations have been using QuickBooks accounting for many years because of its user friendly flexibility, specialized accounting packages for different types of businesses, and ability to seamlessly share data.

QuickBooks recently introduced their latest 2014 upgrade. This is the first major update since 2007. While many of the changes are aesthetic, there are also quite a few general feature improvements, making an already simplified program much easier to learn and use.

Labyrinth Learning offers a QuickBooks 2014 webinar dedicated to helping your students get the most out of this new and exciting update. Author and editor Trish Conlon brings a laundry list of innovative tips and valuable insights, which will greatly benefit all instructors who are teaching college accounting classes.

QuickBooks 2014 has included changes to email, enhancements to job costing, updated synchronization with banking applications, and real-time information consolidation. These are only a few of the fantastic new features students will be expected to learn during a course on QuickBooks 2014. This Labyrinth Learning teaching aid includes assignments that can easily be uploaded to eLab for real time grading and immediate feedback.

Dates and times for our upcoming QuickBooks 2014 webinar will be announced soon. Please check back for more information or for assistance on this webinar or any of our additional online teaching tools. Contact us today at Labyrinth Learning for more information about our resources.

Effective Ways to Help Students Understand Accounting

resources for accounting teachers and professors
Source: FreeDigitalPhotos.net

It’s important to teach certain subjects, such as accounting, in a way that students both comprehend and retain the information. Here are some helpful tips on how to teach accounting:

  • If you mention accounting classes to students, you may see their eyes glaze over. Incorporating fun and unusual teaching methods makes the class interesting and also increases the likelihood students will actually remember the basics
  • Allow the students to separate into groups and play Monopoly. At the end of the game, have each team prepare an Income Statement and Balance Sheet. Understanding the objective at the beginning of the game can help them connect the causes and effects.
  • Incorporate numerous step-by-step examples. Over 85 percent of accounting students surveyed all agreed that this is one of the most effective ways of learning a detail oriented subject.
  • When understanding how to teach accounting, it is vitally important to remember to explain why something is being done. Students need to be told the reasons behind certain procedures for the entire process to make sense.
  • These days, many students have no concept of how a checking account operates. An accounting class is a wonderful way to teach students the tips and tricks of on-line banking, account balancing, and writing a check.

When learning how to teach accounting, Labyrinth Learning offers an excellent variety of both textbooks and online teaching tools to help both you and your students succeed. Please contact us today for assistance.