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This 2-part workshop has been thoughtfully prepared and recorded – and you can access it immediately. Upon purchase, you’ll receive immediate access to both online recordings and related handouts.
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Opening Balances: Getting Started with the Right Numbers
Primary & Detailed Opening Balances
Approximately 22 min for Part I, 85 min for Part II (107 minutes total).
Part I:
- Opening balances prep checklist
- Before you start
- Starting date and historical information needs
- Detail from prior system
- Temporary accounts
- What you’ll do:
- Balance sheet opening entries
- Profit & Loss opening entries
- Checking results
Part II:
- Review of prep steps
- Primary balances:
- In-depth example: Entry of primary Balance Sheet account balances
- In-depth example: Entry of primary Profit & Loss account balances
- Detail entries and actions for Balance Sheet balances
- Outstanding checks and deposits
- Prior-period reconciliations for bank accounts
- Accounts receivable detail and aging
- Employee advances
- Accounts payable detail and aging
- Prior-period reconciliations for credit cards
- 1099 Year-to-date entries
- Job income detail entries
- Job cost detail entries
- Exhibit: Primary balances entered before detail entry
$147
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80 More Online Classes for only $197
Covering topics like:
Job-Costing, Construction Accounting, and Profit-Building
