Course description

Use QuickBooks to track personal tax item as well as business expenses easily, so that we have more of our year-end tax preparation materials in one place that is well organized.

Tracking personal tax-related items in a business QuickBooks account is actually a highly controversial topic in the world of accounting and bookkeeping, the conventional wisdom being that we should separate any personal items from the business files as much as possible, whether they be tax related or not.

Many small businesses use QuickBooks primarily to help with year-end tax documentation needs, however, and a system that can achieve more of these needs in one place will be worth the time to learn.

Professional bookkeepers can use these methods to help differentiate themselves from the competition by providing more service that client will greatly appreciate for minimal extra effort once the system is set up.

We will provide two methods for tracking personal tax items in our business QuickBooks file and let you decide if either of these methods will work well for your needs.

One method will work with equity draws accounts and the other method will utilize QuickBooks classes to track personal tax-related items in the business QuickBooks file.

Both methods have their pros and cons and the choice between the two will come down to the individual needs and preferences of the business and bookkeeper.

QuickBooks does a great job of tracking business expenses which we can also think of a business-related deductions, deductions a sole proprietor would report on a schedule C.

There are many other personal deductions a business owner may want to track as they are paid, however. For example, a business owner may want a system for tracking charitable payments, medical payments, child care payments, college costs payments, retirement plan payments, and state tax payments.

QuickBooks can help to track these personal payments as well as business payments, and we will provide methods for doing so.

What you’ll learn

  • Use equity draws accounts to track personal tax items in a business QuickBooks Desktop Pro 2019 file
  • Use classes to track personal tax items in a business QuickBooks Pro Desktop 2019 files
  • Add add, work with, and explain how to use classes in QuickBooks Desktop Pro 2019
  • Explain how the profit and loss statement is related to the equity section of the balance sheet


Are there any course requirements or prerequisites?

  • We should be familiar with QuickBooks and or accounting.


Who this course is for:

  • Business owner who want a method for tracking personal tax related items using QuickBooks Desktop Pro 2019
  • Bookkeepers who want a system to provide more to their clients using QuickBooks Pro Desktop 2019
  • Accounting students who want to apply concepts to accounting applications like QuickBooks Desktop Pro 2019

Course curriculum

Meet your instructor!

Robert (Bob) Steele
CPA, CGMA, M.S. Tax, CPI


Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.  

Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).  

Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.  

In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and How Too, and has developed supplemental resources including a Facebook Page, Twitter Page, and Podcasts that can be found on I-tunes, Stitcher, or Soundcloud. Mr. Steele's teaching philosophy is to make content applicable, understandable, and accessible.  

Adult learners are looking for application when they learn new skills. In other words, learners want to be able to apply skills in the real world to help their lives. Mr. Steele’s formal accounting education, practical work experience, and substantial teaching experience allow him to create a curriculum that combines traditional accounting education with practical knowledge and application. He accomplishes the goals of making accounting useful and applicable by combining theory with real-world software like Excel and QuickBooks.  

Many courses teach QuickBooks data entry or Excel functions but are not providing the real value learners want. Real value is a result of learning technical skills like applications, in conjunction with specific goals, like accounting goals, including being able to interpret the performance of a business.  

Mr. Steele makes knowledge understandable by breaking down complex concepts into smaller units with specific objectives and using step by step learning processes to understand each unit. Many accounting textbooks cram way too much information into a course, making it impossible to understand any unit fully. By breaking the content down into digestible chunks, we can move forward much faster.  

Mr. Steele also makes use of color association in both presentations and Excel worksheets, a learning tool often overlooked in the accounting field, but one that can vastly improve the speed and comprehension of learning accounting concepts.  

The material is also made understandable through the application of concepts learned. Courses will typically demonstrate the accounting concepts and then provide an Excel worksheet or practice problems to work through the concepts covered. The practice problems will be accompanied by an instructional video to work through the problem in step by step format. Excel worksheets will be preformatted, usually including an answer tab that shows the completed problem, and a practice tab where learners can complete the problem along with a step by step presentation video.

Take this course today!

"QuickBooks Desktop Pro 2019 - Personal Tax Tracking Tricks"

Bundle including this course!