Accounting & Finance 101 Online | ECI Solutions
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Accounting & Finance 101 Online Syllabus

Monday, June 8 - Friday, June 12, 2020

11 AM - 12 AM ET (Times vary daily)

Online

Course Overview

This three-day course is designed for both new and current MarkSystems users who are interested in furthering their knowledge of Accounting & Finance. The course will provide detail regarding management, utilization and best practices. It will allow for in depth discussions and hands on MarkSystems exercises with a MarkSystems’ Expert.

Upon successful completion of this course, students will be able to:

  • Create and maintain G/L accounts and reporting
  • Create and maintain Accounts Payable and reporting
  • Preform 4 Step House Closing and Settlement process
  • Run G/L End of Month and make use of recommended best practices for this process
  • Create and maintain custom Financial reporting

Prerequisites - MarkSystems login and password already set up

Course Schedule

General Accounting Procedures

MarkSystems Overview

  • System demonstration and walkthrough
  • Review MarkSystems basics

General Ledger Introduction

  • Review Company Setup and MarkSystems Properties that relate to Accounting
  • Review G/L Setup
    • Learn how to create new accounts and edit existing accounts
    • Learn how to view account detail and maintain budgets
  • Review Division and Subsidiary Setup
    • Learn how to create new divisions and subsidiary accounts
  • Review Journal Entry and Journal Entry Import
  • Review Core G/L Reports
    • Discuss core G/L Reports that are used most frequently

G/L End of the Month Best Practices

  • Learn how to run G/L End of Month Close Out process

Accounts Payable Introduction

  • Review A/P Setup, Vendor Setup, Invoicing, and Check Processing
    • Learn how to setup a new Vendor
    • Learn how to enter invoices, adjust/reverse invoices, enter manual hand checks and write/reverse checks
    • Discuss Vendor Payment Terms and setup
    • Discuss Bank Codes and setup
    • Discuss A/P Web Approval Queue for WO’s/PO’s
  • Review Core A/P Reports
    • Discuss A/P Reports and how they can be best used for your Company
  • Review 1099 Processing and EFT

Tracking and Payment during the Build Cycle

Cash Receipts Introduction

  • Learn how to enter Cash Receipts
  • Review and discuss Deposit Status Reports

Construction Loans Introduction

  • Learn how to setup Construction Loans
  • Learn how to record Loan Proceeds to Cash Receipts system
  • Discuss core Construction Loan Reports

Bank Reconciliation Introduction

  • Learn how to clear outstanding checks
  • Learn how to reconcile bank accounts

4 Step House Closing and Settlement Process

  • Discuss how to record Cash Receipts from Settlement
  • Discuss how to record Settlement (Hud-1)
  • Discuss how to relieve Work-In-Progress (WIP) and post to Cost-Of Goods Sold (COGS)
  • Discuss how to perform the Final House Close Out

End of Month Best Practices

Financial Statement Writer Introduction

  • Learn how to create custom financial statements

Applying What You Have Learned!

  • Review core concepts to eliminate potential gaps in knowledge
  • Comprehensive Exam based on information learned throughout course

Course Agenda

Click here to view the Detailed Course Agenda, including session times.

Questions?

Contact us at msu_info@ecisolutions.com

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