Accounting Smart Class

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Course content

Introduction
- Introduction to Accounting Smart Class
Business Knowledge
Basic Features
- All about localizations 10 xp
  - Quiz
- Basic set up to get your accounting live - Chart of Accounts 10 xp
  - Quiz
- Basic setup to get your accounting live - Journals 10 xp
  - Quiz
- Basic setup to get your accounting live - Taxes 10 xp
  - Quiz
- The basic journal entries 10 xp
  - Quiz
- Documents management 10 xp
  - Quiz
- Payments - Payments and bank reconciliation 10 xp
  - Quiz
- Payments - SEPA payments and reconciliation models 10 xp
  - Quiz
- Inventory valuation 10 xp
  - Quiz
- Tax closing 10 xp
  - Quiz
- Reporting 10 xp
  - Quiz
Advanced Features
- Multi Currency - Gains/losses (realized) exchange differences 10 xp
  - Quiz
- Multi Currency - Unrealized gains/losses 10 xp
  - Quiz
- Asset management 10 xp
  - Quiz
- Deferred revenue and expenses 10 xp
  - Quiz
- Analytic accounting 10 xp
  - Quiz
- Budget management 10 xp
  - Quiz
- Multi company setup 10 xp
  - Quiz

The financial reports and the impact of journal entries on them

10 XP

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1. Which statement is true?

The Balance Sheet is reset to zero at the beginning of the new fiscal year The Profit&Loss Statement is reset to zero the beginning of the new fiscal year Only expenses and revenue accounts are represented in the balance sheet

2. Which type of account is not part of the active ?

Fixed Assets Current Liabilities Bank and Cash account

3. You buy coffee for your employees. The journal entry is as follows: Account 601 (Cost) on the debit side VS 440 (Debts towards vendors) on the credit side. What is the impact on the financial reports?

The active from the Balance Sheet is increased and the P&L Statement is impacted The P&L Statement is not impacted, only the Balance Sheet The passive from the Balance Sheet is increased and the P&L Statement is impacted