QuickBooks for Farmers in Kwazulu Natal

Filed Under (Bookkeeping, QuickBooks) by moirapottow on 29-09-2011

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QuickBooks for Farmers in Kwazulu Natal is a step-by-step, 1 day workshop covering farm accounting topics. Its aimed at anyone working with the QuickBooks software in agriculture: farmers, accountants, tax practitioners, extension officers, and teachers and students of agriculture.
The first half of the workshop is devoted to the basics of setting up QuickBooks for a farm business. This includes ideas and approaches for setting up a farm business Chart of Accounts, ways to set up Classes to allow enterprise accounting, discussions highlighting QuickBooks features most farm businesses should use. And last but not least, a bunch of things most farmers should start and stop doing to save a bucket load of cash.
The second half of the workshop provides detailed, step-by-step guidelines for farm business transactions. Topics include everything from basic income and expense entries, to details on handling of more unusual farm business transactions like how to deduct commissions and hauling from a milk check or livestock sale receipts, how to handle grain and livestock inventories in the QuickBooks inventory system, how to get reports quantities with statistics like average price received per ton, and more.
Here are just a few of the topics covered in The QuickBooks for Farmers in Kwazulu Natal 1 day workshop:
  • Cash vs Accrual Accounting
  • Recording cash income
  • Deducting expenses (hauling, commissions, etc.) from a deposit
  • Withholding cash from a deposit
  • Recording milk checks, capital retains, and revolvements
  • Accounting for resale livestock.
  • Tracking quantities of things you sell.
  • Handling grain inventories
  • Recording cash discounts
  • Handling credits on account at the farm supply dealer
  • Recording refunds of expenses.
  • The best way to enter farm & personal cash spending & income.
  • Tracking quantities of things you buy.
  • Vat Returns
  • Recording Diesel Rebates from SARS
  • Setting Up Budgets and associated reporting
  • Tracking family living expenses using equity accounts
  • Farm asset and liability basics.
  • Tracking depreciable asset purchases and sales
  • Setting up accounts for loans and notes.
  • Recording loan payments
  • Borrowing/paying on a line of credit.
  • Backing up and storing your QuickBooks records.
  • Overview of Quickbooks 2010 features
QuickBooks for Farmers in Kwazulu Natal is a 1 day Workshop for beginning to intermediate users of QuickBooks, with a few topics for advanced users.