QuickBooks Online Event V – Balance Sheets
Duration: 1 Hour
Level: Beginner
Format: Live Human Online Event with Guided Demonstrations
Environment Used: Intuit QuickBooks Online Test Drive (Accountant View)
Event Schedule (1 Hour)
Welcome & Concept Review
How daily transactions flow into financial reportsTopic 1: What the Balance Sheet Really Shows
Assets, liabilities, and equity explained clearlyTopic 2: How QuickBooks Online Builds the Balance Sheet
Connecting transactions to balancesTopic 3: Live Demonstration
Reviewing and interpreting the Balance Sheet in Accountant ViewWrap-Up, Q&A & Next Steps
Event Description
QuickBooks Online Event V focuses on the Balance Sheet, one of the most important—and often misunderstood—financial reports. This live session explains what the Balance Sheet shows, how it differs from the Profit & Loss report, and why it represents the financial position of a business at a specific point in time.
Rather than treating the Balance Sheet as a static report, this event emphasizes how transactions create balances. You’ll see how customer invoices, vendor bills, payments, and adjustments all affect assets, liabilities, and equity behind the scenes.
All demonstrations are performed using the QuickBooks Online Test Drive account in Accountant View, ensuring a consistent and risk-free environment for learning.
By the end of the hour, the Balance Sheet will feel logical and approachable—and you’ll understand how to use it to assess financial health.
Topic Areas
Topic 1: Understanding the Balance Sheet
Learn what assets, liabilities, and equity represent and how they relate to each other. We’ll explain why the Balance Sheet must always balance and what that balance tells you about a business.
Topic 2: How Transactions Affect the Balance Sheet
Explore how common QuickBooks Online transactions—such as invoices, bills, payments, and expenses—change Balance Sheet accounts. This section focuses on cause-and-effect, not memorization.
Topic 3: Live Balance Sheet Walkthrough
Watch a guided walkthrough of the Balance Sheet using the QuickBooks Online Test Drive (Accountant View). You’ll see how to customize the report, drill into balances, and connect report totals back to transactions.
Who This Event Is For
QuickBooks Online users reviewing financial reports
Business owners wanting to understand financial position
Bookkeepers and accounting staff
Anyone confused by Balance Sheet balances
What You’ll Gain
Clear understanding of how to read a Balance Sheet
Insight into how daily activity affects balances
Confidence reviewing Balance Sheet reports
Preparation for deeper financial analysis
Other QuickBooks Online Events
This 1-hour event completes the QuickBooks Online foundations series.
Additional QuickBooks Online events expand on this by covering:
Banking and reconciliation
Adjusting entries and period close
Advanced reporting and analysis
Real-world troubleshooting scenarios
QuickBooks Online Event V ties everything together—helping you move from entering transactions to truly understanding the financial picture.
