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QuickBooks Online Webinar V – Fixed Assets and Liabilities

Duration: 3 Hours
Level: Early Intermediate
Format: Live Human Online Webinar with Guided Labs
Environment Used: Intuit QuickBooks Online Test Drive (Accountant View)

Webinar Schedule (3 Hours)

Session 1: Understanding Fixed Assets and Long-Term Liabilities

  • What qualifies as a fixed asset

  • Short-term vs long-term liabilities

  • How assets and liabilities appear on the Balance Sheet

  • Common setup and classification mistakes

Lab 1:

  • Review existing asset and liability accounts

  • Identify how balances are presented on the Balance Sheet

  • Trace balances back to source transactions

Session 2: Recording Fixed Asset Transactions

  • Purchasing assets correctly

  • Capitalizing vs expensing purchases

  • Depreciation basics (high-level overview)

  • Using journal entries responsibly for assets

Lab 2:

  • Record a fixed asset purchase

  • Reclassify an expense to an asset (scenario-based)

  • Review Balance Sheet and Profit & Loss impact

Session 3: Managing Liabilities and Paydown Activity

  • Recording loans and credit balances

  • Separating principal and interest

  • Tracking liability balances over time

  • Verifying accuracy through reports

Lab 3:

  • Record a liability transaction

  • Apply payments to reduce balances

  • Review changes on the Balance Sheet

  • Validate posting accuracy

Webinar Description

QuickBooks Online Webinar V focuses on fixed assets and liabilities, two Balance Sheet areas that often cause confusion and reporting errors. In this hands-on webinar, participants learn how to properly record long-term assets, manage liabilities, and understand how these accounts affect financial position over time.

Rather than diving deep into depreciation rules or tax treatment, this session emphasizes correct setup, classification, and reporting logic within QuickBooks Online. Participants see how asset and liability activity flows through the system and how to verify accuracy using financial reports.

All demonstrations and labs are completed using the QuickBooks Online Test Drive account in Accountant View, ensuring a safe, consistent learning environment.

By the end of the webinar, attendees will confidently understand how fixed assets and liabilities should be recorded, tracked, and reviewed in QuickBooks Online.

Lab & Exercise Structure

Each lab is:

  • Instructor-guided with live explanation

  • Scenario-based and accounting-focused

  • Designed to reinforce proper classification

  • Performed in the QuickBooks Online Test Drive (Accountant View)

Labs mirror real-world asset and liability management scenarios.

Who This Webinar Is For

  • Attendees of QuickBooks Online Webinars I–IV

  • Bookkeepers and accounting staff

  • Business owners reviewing Balance Sheet accounts

  • Anyone unsure how assets and liabilities should be handled

What You’ll Gain

  • Clear understanding of fixed assets and liabilities

  • Confidence recording and reviewing asset activity

  • Insight into liability tracking and payments

  • Ability to validate Balance Sheet accuracy

Other QuickBooks Online Webinars

This webinar expands Balance Sheet mastery.
Additional QuickBooks Online webinars build on this foundation by covering:

  • Banking and reconciliation

  • Period-end adjustments and closing

  • Bad debt and write-offs

  • End-to-end financial review and cleanup

QuickBooks Online Webinar V ensures your Balance Sheet reflects reality—so long-term decisions are based on accurate information.