Month End Master Course

QuickBooks Online Month End Master Course



Are you ready to develop an efficient month end process for your firm?

It is important to have a month end process for your clients to ensure that you are providing the best quality work. That is why I created this month end training. Once you have completed this course, you can be confident in the value you are providing your clients.

Month end doesn’t have to be a complete time suck, but if you want to be effective, you have to do more than just reconciliations. Let’s streamline the process together. By working through all the phases of month end in this course, you’ll gain the confidence in your work, you’ll gain a better understanding of your client’s business from the big picture perspective, and you’ll ensure that you are giving your client the best reporting so they too have the confidence in their numbers to make the best business decisions.  

In this course, you’ll learn how to organize your month end work so that you are in control and not your clients. You’ll be able to create real boundaries with your clients so you can effectively get your work done, which will result in happier clients! This saves you time so you can unchain yourself from your computer and enjoy life while making a great living.

Learning Objectives

  • Learn the importance of having a month end process in your practice
  • Utilize the month end stages to simplify the scheduling of your month end work
  • Develop a month-end schedule for your practice and checklists for your clients
  • Utilize reconciliations to verify account balances and fix errors
  • Develop workpapers to verify the balances on the balance sheet
  • Utilize the month end review process as a training tool for your staff
  • View the financials from a big picture perspective to gain better insights into your client’s business
  • Learn how to use different reporting options to effectively communicate the numbers with your clients

Session Details

  1. Getting Started
    • Financial statement assertions
    • Phases of month end
    • Sample month end
  2. Creating Your Process
    • Using a phased approach to month end
    • Planning your process
    • Considering client risk areas
    • Creating a month-end checklist for your client
    • Developing a system for a team versus one professional
    • Utilizing a project management system
  3. Reconciliations
    • Reconciliation tools in QuickBooks Online
    • Cleanup reconciliations
    • Unreconciled items
    • Clearing accounts
    • Non-bank reconciliations
  4. Workpapers
    • What are workpapers?
    • Balance sheet assertions
    • Formatting workpapers
    • Examples of different workpapers
  5. Balance Sheet
    • Finish up any open items on workpapers
    • Tying a balance sheet to a tax return (this is also a separate training here)
    • What to review and check on the balance sheet
  6. Profit & Loss
    • Analytical procedures
    • Reviewing accounts for proper classification
    • Checking your work
    • Reporting options