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Update Quickbooks for Small Business

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Main contact
Knowledge Bookstore
Knowledge Bookstore
Brampton, Ontario, Canada
Sean Liburd
Manager
(12)
4
Portals
(1)
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Project
Academic experience
120 hours of work total
Learner
Anywhere
Advanced level

Project scope

Categories
Data analysis Data modelling Software development Machine learning Artificial intelligence
Skills
algorithms artificial intelligence machine learning predictive analytics research
Details

The students will be required to bring our Qucikbooks online accounting records up to date. This project will give students excellent practical experience at financial accounting for a small retail business using one of the most popular accounting software.

What tasks will students need to complete to achieve the project goal?
  • Review current Quickbooks accounts status and make updates where necessary
  • 2024 Accounts entries including sales, purchases, payments, and expenses
  • Set up of Recurring Transactions within Quickbooks to save future data entry
  • Reconcile all accounts
  • Assist in preparing Provincial Tax Return Data
  • Adjustments to bring books to trial balance for accountant


Deliverables
  1. Orientation - Meet owner online; get access to Quickbooks Online and accounting records. Review current state.
  2. Focus β€“ Jointly create a list of task priorities and reconciliations to bring accounting records up-to-date.
  3. Update accounting records (if required) and reconcile accounts - including updating automated rules to automate future posting where applicable.
  4. Jointly Review Balance Sheets and P&L– Review Financial Statements together with owner to confirm project is complete.
  5. Recommendation - two practices to improve financial reporting efficency



Mentorship
Skills, knowledge and expertise

Sharing knowledge in specific technical skills, techniques, methodologies required for the project.

Tools and/or resources

Providing access to necessary tools, software, and resources required for project completion.

Regular meetings

Scheduled check-ins to discuss progress, address challenges, and provide feedback.

Supported causes

The global challenges this project addresses, aligning with the United Nations Sustainable Development Goals (SDGs). Learn more about all 17 SDGs here.

Reduced inequalities

About the company

Company
https://www.knowledgebookstore.com/
Brampton, Ontario, Canada
2 - 10 employees
Education, Consumer goods & services, Media & production
Representation
Minority-Owned Women-Owned Small Business Family-Owned Immigrant-Owned
+ 1

Knowledge Bookstore is an independent Afrocentric bookstore located in Brampton Ontario that sells African Canadian, African American, Caribbean, and Children's books. We also offer Black dolls, greeting cards, DVDs, beauty products, and gift items not readily available in mainstream stores. Knowledge Bookstore is a community space as well as the go to source for parents, writers, poets, artists, and the Black community.