Bookkeeping Essentials
Build a solid foundation in practical bookkeeping.
About this course
Build a solid foundation in practical bookkeeping. Over five days you will learn double-entry principles, record everyday transactions, manage receivables and payables, handle payroll, inventory and fixed assets, and reconcile accounts so that the books are accurate and complete.
You will finish by preparing a trial balance and basic financial statements. The course also prepares you for the Intuit Certified Bookkeeping Professional exam. Exam fees are separate and paid to the exam provider.
What you'll learn
- Explain the accounting equation and the principles of double-entry bookkeeping
- Record everyday transactions in journals and ledgers
- Distinguish between cash and accrual accounting
- Manage accounts receivable and accounts payable
- Record payroll, inventory, fixed assets and depreciation
- Make adjusting entries and complete bank reconciliations
- Prepare a trial balance, an income statement and a balance sheet
- Apply ethical standards and prepare for the Intuit Certified Bookkeeping Professional exam
Curriculum
- The role of the bookkeeper
- The accounting equation
- Types of accounts
- The chart of accounts
- Debits and credits
- Recording journal entries
- Posting to the ledger
- Preparing a trial balance
- Cash basis accounting
- Accrual basis accounting
- Recognising revenue and expenses
- Prepaid and accrued items
- Invoicing and collecting payments
- Receivables ageing and bad debts
- Recording supplier bills
- Paying suppliers
- Recording wages and deductions
- Payroll liabilities
- Inventory methods
- Cost of goods sold
- Capitalising assets
- Depreciation methods
- Asset disposals
- Keeping a fixed asset register
- Adjusting entries
- Bank reconciliations
- Finding and correcting errors
- Closing the period
- The income statement
- The balance sheet
- Introduction to the cash flow statement
- Reading and explaining results
- Professional ethics and confidentiality
- Basic internal controls for small businesses
- Review of the exam objectives
- Practice questions
Who it's for
Newcomers to accounting, administrative staff and small business owners who want to keep reliable books.
Before you start
- Basic numeracy and computer skills
Prepares for
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