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ERP and Accounting Applications Learning

As infers from the name the purpose of this blog is to provide learning about accounting, well known ERP, Accounting & other business Applications.

It has become dire need for each accounting and finance professional to learn these accounting solutions for securing employment opportunities. In this current era of digitalization, our typical accounting and bookkeeping methodology has altogether been changed into computerized and digital accounting system, but our educational system unfortunately not so updated to cope these challenges for fresh graduates of accounting & Finance professionals.

Just introduction to these accounting solutions is not sufficient to get employment, work efficiently and effectively from day first. So, a thorough apprenticeship is mandatory on practical industry scenarios for our accounting and finance professionals to get employment opportunities and in return industries get best talent from day first without bearing any substantial training cost.

   

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How to manage Production/Manufacturing/Build Assembly Process/ Create Deals in Quick Books

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How to manage Production in Quick Books? Handling Manufacturing in Quick Books? Build Assembly Process  in Quick Books? Create Deals/Packages in Quick Books? How to Create KIT in Quick Books? Quick books is financial software but to some extent you can handle production in it using certain ways. But Assembly process can easily be handled in quick books. To create assembly item/production item go to " Item List/Inventory Center" and create New Item. Choose item type as "Assembly Item" add the ingredients/components for the subject assembly item. Add UOM and quantity to be used for ONE UNIT of assembly item. Follow Navigation to create Assembly Item Item List/Inventory Center  --> Create Item -->     Choose Assembly Item                 Unit of Measurement (UOM) for assembly item can be different from the components. Components UOM and Quantity for one unit of production should be corelated with the unit of purchase. If you buy some item in Kg's and consu
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How to create Chart of Account?

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 How to create Chart of Account?  How to add /Edit/Delete/Inactive an account in Quick Books? Chart of account is pre-requisite for in any accounting solution at the time of implementation. Every ERP & small Accounting applications have different ways and account types to add chart of account. The most important thing is to have unique and flexible numeric codes for each type of account. These account codes should be created with such a technique that you can later add specific type of account in hierarchy. Normally chart of account is prepared in four levels to substantiate hierarchy of account types/FS elements. e.g., Assets, Liability, Equity, Income, Expense. Drawings are accounted for in Equity type and Expenses are further split into Cost of Sales & Expenses (Admin, Selling, Financial). Coding custom being mostly followed is under given but you may define your own suitable and logical coding for each type; FS Elements                                  Denomination Assets 
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How to Customize / Memorize Report in Quick Books?

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How to Customize Report in Quick Books? How to Memorize Report in Quick Books? This blog is about the report customizations in Quick books and memorize it in specific folder for later view/print of the same in the same customized format. There are lot of reports in Quick books categorized with respect to each module and almost all reports can be customized except some. If you don't see option of "Customize Report" button that means you cannot customize that report so much and you have to view results in the designed format. You can export report in excel and customize according to your need. Here, i am going to generate, customize and memorize report related to "Cash & Banks" as Cash and bank ledgers not available in Cash and Bank module. and it is a basic need of each entity's management to have these reports. Go to --> Home Page -->  Click on Chart of Account --> Cash & Bank or Specific Cash Account Generate Quick Report by short key  (Ct
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