Intuit QuickBooks Certified User Program in Bangalore

Intuit QuickBooks Certified User Program

Intuit is pleased to announce the official QuickBooks Certified User Program.
The QuickBooks Certified User Program is a Web-based certification program designed for people who use QuickBooks in their day-to-day job, including bookkeepers, office managers and owners. The program is intended to broaden, deepen and verify users' knowledge of QuickBooks Financial Software (Pro, Premier editions and Enterprise editions) through training and testing.

Benefits of the program:

Sharpen and expand your current QuickBooks and bookkeeping skills
Save time and increase efficiency by incorporating tips and tricks into your daily work
Demonstrate your QuickBooks capabilities to current and future employers
Receive a professional-looking certificate of completion
Identify yourself as a QuickBooks Certified User on the QuickBooks Community Web site

If one looking for help in getting trained and get certified as Quickbooks user just you need to pay $49.95 and attend the training conducted by cosmic IT services in india (Cosmic has been providing corporate and individuals QuickBooks training for over 5 years. Our philosophy is to provide "Quality training at affordable rates". Cosmic unlike any other training institute provides you with hands on experience.)

for more detials login to www.quickbooksindia.com

Topics & Exams
The comprehensive QuickBooks training consists of three sections. Each section includes several modules followed by an exam at the end of each section. The training is specifically designed to cover the topics you will be tested on. The exam is designed to test a broad range of QuickBooks skills, key tasks and work processes. Below is an outline of the key topics covered in the training and exams.

Section 1: Essentials for the QuickBooks User
Module 1: Creating a New Data File and Entering Historical Transactions
Module 2: Lists
Module 3: Chart of Accounts and Financial Statements
Module 4: Items
Exam: Section 1
Section 2: Day to Day Transactions
Module 1: Customers, Sales and Receivables
Module 2: Vendors, Expenses and Payables
Module 3: Payroll and Time Tracking
Exam: Section 2
Section 3: Special Topics for QuickBooks User
Module 1: Reporting
Module 2: Customizing QuickBooks and Saving Time
Module 3: Security & Multi-User
Module 4: File Utilities
Module 5: Working With Accountants
Exam: Section 3


Sample test questions:

QST.1. How do you remove transactions from a company file without deleting existing lists, preference, and service subscriptions?
a. Click the Company menu and select Clean > Company Data
b. Click the File menu and select Utilities>Clean up Company Data from the menu. Then, choose the Remove All Transactions option
c. Click the File menu and select utilities > Purge Data from the menu
d. Click the Edit menu and select Delete All Transactions

Ans: B

QST.2. Which is the correct method to adjust sales taxes due?
a. Click the Vendors menu and select Sales Tax > Adjust Sales Tax Due
b. Click the Banking menu and select Pay Sales Tax with Adjustment
c. Click the Company menu and select Make General Journal Entries
d. Open the Sales Tax Payable account register and edit the ending balance

Ans: A

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Rural BPOs - Next big thing in IT, says Nasscom

Rural BPOs are the next revolution in Indian IT sector to happen, as the industry gears up to achieve $50 billion export target this year, Nasscom member Ashank Desai said.

"The host of rural BPOs that are coming up in the country, is the next revolution in industry to happen, rural BPOs is about creating jobs," Desai, who is also the chairman of Mastek, said at IIM-A confluence.

"Rural BPOs will reduce the cost for Indian IT companies first and later on globally," Desai said, adding, such BPOs are coming up in Karnataka and Haryana.

"Over the last 15 years we have increased the business size of industry almost 800 times, in 1990 our exports were 100 million this year we will do 50 billion, we have created two million jobs in the country directly, and another 6-8 million indirect jobs," Desai said.

source: http://www.indianbpoobserver.com/modules.php?name=News&file=article&sid=1571

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Bangalore's IT, BPO crowd less than 10 percent

Bangalore's IT, BPO crowd less than 10 percent

Bangalore: Employees in IT and BPO industries constitute just 10 percent of the total population of Bangalore. Data cited by The Times of India from various trade bodies and population statics show that these two industries employ just six lack people in Bangalore, in which 3.5 lakh employees are from IT and another 2.5 lakh from BPO/call center industry.

Assuming that each employee has a family of four -which is not the case as almost 50 percent of the industry is made up of singles in their early 20s- then their population in the city would be 24 lakh, which is 34 percent of the total

It was also found that the five jobs that every single IT job creates in the city generally goes to a villager who has migrated to the city in search of better prospectus from within Karnataka.

The findings were made on the ground of the state JD(S) President H D Kumaraswamy's remark on huge traffic jam occurred in the city during a political rally of his party. The rally had affected the movement of lakhs of people in North Bangalore and many people had criticized this act. Responding to the complaints, Kumaraswamy had said, "Sophisticated people and those working in IT/BT are making unnecessary noise."

According to a report in the Times of India, it has become a fashionable for politicians to blame the city's Rs.60,000 crore IT industry for all the ills plaguing Bangalore.

Source: Silicon

A List Sites

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BPOs see a clear advantage over IT

Source: Times of india

Bangalore: Business process outsourcing firms believe they will be less impacted by the global economic meltdown than their IT counterparts because much of what they do involves facilitating day-to-day operations.

BPOs offer services like payroll processing, bill/invoice processing, loan processing and insurance claim processing, as also equity research, business analytics, merchandising, and financial planning and analysis. These are operating expenses for the client company and the return on investment (ROI) for the BPO is mostly real-time. On the other hand, a large chunk of IT investments are capital expenditures — mid to long-term — and are therefore seen to be discretionary and deferrable. So while some analysts think many of the core areas of the IT sector could see declines in revenue of as much as 30% over the next year, they believe it could be lower than 10% for most BPOs.

Avinash Vashistha, MD of technology consultancy firm Tholons, says the slow down impact on BPOs will be limited. “Application support and maintenance and project implementation services of IT are likely to take a dip of over 30%. But BPOs are about core transactions and day-to-day functioning and clients will find it tough to delay these projects or make cuts in them,’’ he says.

P V Kannan, CEO of BPO firm 24/7 Customer, says the flip-side of the recession will work well for the sector. “It opens up huge opportunities for BPOs. The discretionary portion is very small in BPOs. Existing customers are in fact accelerating their offshore plan as they are under huge liquidity pressure. Many customers will adopt the outsourcing model from the first quarter of calendar 2009,’’ he says. Currently, processing services account for 60% of the industry while the rest 40% comes from core services (business analystics, financial planning etc). Last year, the ratio was 70:30 and its likely at 50:50 in 2009. Also, the share of voice based services has come down from 95% (India gets 5% of the global voice market) a couple of years ago to 80% now and is expected to fall further. “All these trends indicate that highvalue deals are likely to grow during 2009 and beyond,’’ says Sabya Sachi Satpathy, senior director of consultancy firm NeoIT. “Everyone’s worried about liquidity. Better management of operational spends saves money for customers. BPOs will cash in on this trend during these tough times,’’ says Partha De Sarkar, CEO of BPO company HTMT Global Solutions. Much of the core processes currently go to the Philippines, Mexico, Brazil and Ireland. Opening near-shore locations is expected to help India capture some of this flow, and Indian companies are beginning to do that.

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Quickbooks training in Bangalore for $499 with certification

Here is an exciting offer to learn QuickBooks Pro 2008/2009 in 5 days from “Horse’s Mouth” and get certified as QuickBooks users. Charges: $499.00 (No other cost involved)

COURSE DETAILS

The primary goal of this course is to train you in the aspects of accounting and bookkeeping using QuickBooks Software. You will acquire the practical knowledge and skills to enable you to set up and maintain a set of books for a company using QuickBooks software and US based accounting methodology.

COURSE METHODOLOGY
Approximately 2-4 hours of lecturing and discussion daily.
1-2 hours on relevant exercises on each chapter, followed by a quick test on the topic covered. Reasoning for selection of the best answer will be discussed daily.
The final web based exam will be taken by the trainees after the 5 day sessions have been completed. They will have up to 90 days to complete the exam at their leisure and from any web connection. Upon passing the Intuit Certified QuickBooks user exam, participants will receive a certificate from the Intuit Academy. The answers for these questions would also be discussed in the class.

Exam* - Intuit Academy exam will be specific to the user and confidentialDisclaimer: All test questions are a sample, and success on these questions is not indicative of proficiency for passing the Certified User Exam.

Who Should Attend?
• Attendees who intend to work with BPO/KPO in the Finance & Accounting arena, with a minimum of a B.Com, BBM, M.com, MBA, MFM from a qualified Indian University. Working professionals with accounting back-ground, chartered accountants, finance managers etc…

WHAT THE COURSE IS NOT
• A substitute for self-study • An indirect method of self-evaluation before the main exam. • A means of picking up a question bank


COURSE OUTLINE
Day 1

Introduction To US Accounting
• The business World in the US • The Accounting world in the US • Accounting Conventions in the US• The Balance Sheet • The Income Statement • Business Transactions in the US
• Discussion of Best Practices in QuickBooks
• Quiz
Day 2
QuickBooks® Introduction
• Creating a QuickBooks Company File • QuickBooks Chart of Accounts• List, Registers and Forms• Discussion on how and why QuickBooks has special accounts for managing the data file
• Vendor Management • Customer Management • Managing the bank accounts • Discussion of Best Practices
• Quiz

Day 3

QuickBooks Advanced
• Items
• Inventory
• Sales Tax
• Receivable options in QuickBooks
• Class Tracking
• Reimbursed Expenses
• Refunds and Credits
• Credit Cards
• Refunds and Credits
• Online Functions with QuickBooks
• Quiz

Day 4

QuickBooks Advanced Continued

• Payroll in QuickBooks
• Reports Management
• Templates
• Year End for a QuickBooks File
• Best Practices Discussion
• Quiz

Day 5Day 5
QuickBooks Exercise
• Create your own sample Company
• Mock Exam
Course Wrap-up, Participant Feedback and Questions and Answers
DELIVERABLES



40 hours Instructor Led Training
QuickBooks training notes
By: Cosmic It services
Certificate of QB user
From Intuit Academy

INSTRUCTOR PROFILE
Penny Breslin

Ms. Breslin brings over fifteen years of entrepreneurial and business development experience She has trained thousands of business owners in US as how to use QuickBooks and how to deliver outsourced Bookkeeping over the internet. She has conducted this course repeatedly India and the Unites States to an excellent feedback. In addition, she has provided process improvement consulting & trainings in, Unites States, Malaysia, and India. She has conducted numerous public and in-house trainings on QuickBooks, Outsource Management, Workflow, Software Quality and Client Support. Her training feedback has consistently been rated high and has been positively received.
She was formerly working at Xpitax/XCM Solutions she was part of the Software, she developed and implemented an accounting outsourcing team, assisted in the design of the web based workflow solution and implemented client start ups and protocols

REGISTRATION DETAILS

Registration FeesRs. 24,900.00 (Inclusive of service tax) per participant

Course DATES: 10th November to 14th November 2008

Course Timings 09030 to 1800 hrs

Course Venue :

Cosmic IT services Private Ltd. 154,
6th main road, 2nd phase, 2nd stage,
Mahalaxmipuram
Bangalore 560055 India

Course Registrations To register, please email at reg@cosmictechnologies.biz name of the participants and the course location. Alternately, please request for a registration form via email.
More Information Santhosh kumar.k
Cosmic IT services Private Ltd.
154,6th main road, 2nd phase, 2nd stage, Mahalaxmipuram
Bangalore 560055 India
Tel +91-80 23190288 Fax +91-80 28456467Email:
santhoshtmg@cosmictechnologies.bizWeb:www.cosmictechnologies.biz


Registration and payment Terms

- All payments to be made in the favor of “Cosmic IT services PVT. LTD " and posted to:
Cosmic IT services Pvt. Ltd.
154,6th main road, 2nd phase,
2nd stage, Mahalaxmipuram
Bangalore 560055 India

- All registrations are required to be fully paid prior to the start of the course. - Any cancellations received within the last ten calendar days would be liable for 50% of the course fees. - No-shows shall be fully charged.

QUICKBOOKS® Certified User

www.cosmictechnologies.biz www.quickbooksindia.com

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US Tax series -5

Business Income –Schedule C

Schedule C

Schedule C is used to report income or loss from a business you operated or a profession you practiced as a sole proprietor.

An activity qualifies as a business if your primary purpose of engaging in the activity is income or profit and you are in the activity with continuity and regularity (i.e. materially participation).

What should be done in case both the taxpayer and spouse have different businesses?
A)They should file separate Sch Cs
Q) What if the tax payer and spouse jointly own a business?
A) They do not file a schedule C even if they don’t have a formal partnership agreement, in that case 1065 would be filed.

Schedule C is divided into 5 parts
- General Information

- Part I Income
- Part II Expenses
- Part III Cost of Good Sold
- Part IV Vehicle Information
- Part V Other Expenses

- Part I Income
- Gross Receipts or Sales.
- Statutory Employees (From W2)

Income reported in the Sch C includes cash, property, and services received from all sources.

- Part II Expenses

- Depreciation
- Travel, Meals & Entertainment Expenses
- Vehicle Expenses
- Other Expenses

To be deductible, a business expense must be both ordinary and necessary.

An ordinary expenses is the one which is common and accepted in the taxpayer’s respective field of business. A necessary expenses is one which is helpful and useful for the trade.

Examples are 1. reasonable allowance for salaries and other compensation, 2. traveling expenses while away from home etc.

Automobile & truck expenses: Expenses incurred on a personal automobile used for business purposes can be deducted. The standard mileage rate for the cost of operating the car is 48 ½ cents a mile for all business miles.

Home Office Expense

Generally, you can deduct business expenses that apply to a part of your home only if that part is exclusively used on a regular basis:
-As your principal place of business for any of your trades or businesses,
-As a place of business used by your patients, clients, or customers to meet or deal with you in the normal course of your trade or business, or
- In connection with your trade or business if it is a separate structure that is not attached to your home.

Exceptions to this rule apply to space used on a regular basis for:
- Storage of inventory or product samples, and
- Certain daycare facilities.

Use Form 8829 to figure the allowable expenses for business use of your home on Schedule C (Form 1040) and any carryover to 2007 of amounts not deductible in 2006.Only certain expenses are deductible.and The primary home must be used as a principal place of business.

includes
-Real estate taxes
-Deductible mortgage interest
-Casualty losses
-Rent
-Utilities and services
-Insurance
-Repairs
-Security systems etc.
The business percentage can be determined by the dividing the area used for business by the total area of home.

Expenses are deductible if the part of the home is used to provide day care facility.Must be in a trade or business of providing such facilities.

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BPO to outshine IT outsourcing

New Delhi: IT being in the midst of the ever growing economic turbulence will see its outsourcing straggle as business process outsourcing (BPO) outshines it. "With a CAGR of 43 percent as compared to 25 percent of IT outsourcing the business process outsourcing shall surpass it in 2012," predicts IDC India's Head, Praveen Senger.At the Senior Leader's Forum held by Business Process Industry Association of India (BPIAI), major players and industry experts gave their views about the future of the BPO industry in India and the strategy which should be adopted by the players in these times of financial crisis. However, the Sami Chopra, President, BPIAI said, "But there is no need for the BPO industry to panic. We should cooperate and collaborate amongst ourselves to address the problem. The effect of the crisis would fade away in the next few quarters. We have to look beyond that and formulate strategies for the long term." Since the BPO sector has become an attractive investment option especially the domestic processes as compared to the international part of the business. Moreover, with the quality being the key to sustain the competitive advantage as opposed to cost in the future, India needs to retain the tag of the best service provider rather than that of the cheapest service provider. So, for this Leslie D'Monte, Associate Editor, Business Standard cites the importance of a sound Global Delivery Network for the Indian BPO Industry.

The forum dedicated to the issues relating to the issues of the BPO sector even discussed the rural aspect of BPOs maintaining that they along with catering to a social cause would actually make money for the clients by addressing the huge market opportunity which lies in rural India

http://siliconindia.com/shownews/47666

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