Practical Bookkeeping

Numbers! Numbers! Numbers! Wherever you go, you are bound to see them. On addresses, license plates, phones, prices, and of course, money! Numbers connect us all to each other in many more ways than we might imagine. Essentially, our world revolves around numbers.

‌‌‌ Online Course

Basic Bookkeeping – Course Outline:

Some of us enjoy dealing with numbers while others may have a fear of them, or even a phobia. For those of you who have already recognized and appreciate the impact that numbers actually have on just about everything, you deserve a cookie. Welcome to Basic Bookkeeping!

Introduction

• Course Objectives

Module One: Understanding Bookkeeping

• Defining Bookkeeping
• Bookkeeping vs. Accounting
• Key Bookkeeping Terms
• The Role of the Bookkeeper
• Overview of Financial Statements
• Knowledge Check

Module Two: Understanding Financial Transactions

• Types of Transactions
• The Accounting Equation
• Double-Entry Bookkeeping System
• Recording Transactions
• The Importance of Accurate Recording
• Knowledge Check

Module Three: Chart of Accounts

• Structure of Chart of Accounts
• Categories of Accounts
• Customizing the Chart of Accounts
• Account Coding and Numbering
• Maintaining the Chart of Accounts
• Knowledge Check

Module Four: The Recording of Transactions

• Recording Sales and Revenue
• Sales and Cash Transactions
• Handling Accounts Receivable
• Handling Accounts Payable
• Reconciling Bank Accounts
• Knowledge Check

Module Five: The General Ledger

• The Purpose of the General Ledger
• Posting Entries
• Understanding Debit and Credit Entries
• Trial Balance Preparation
• General Ledger Software
• Knowledge Check

Module Six: Financial Statements

• Forecasting and Budgeting
• Preparing the Income Statement
• Preparing the Balance Sheet
• Preparing the Cash Flow Statement
• Statement of Changes in Equity
• Knowledge Check

Module Seven: Managing Banking and Cash

• Basics of Cash Management
• Petty Cash Handling
• Bank Reconciliation Process
• Handling Cash Receipts and Payments
• The Importance of Cash Flow Management
• Knowledge Check

Module Eight: Payroll Accounting

• Introduction to Payroll Accounting
• Payroll Administration
• Payroll Deductions and Withholdings
• Recording Payroll Transactions
• Payroll Taxes and Compliance
• Knowledge Check

Module Nine: Taxation Basics

• An Overview of Business Taxes
• Taxable and Non-Taxable
• Income Tax Considerations
• Payroll Tax Reporting
• Tax Deadlines and Filing Requirements
• Knowledge Check

Module Ten: Ethical and Legal Considerations

• Importance of Ethical Practices
• Understanding Legal Requirements
• Avoiding Legal Pitfalls
• Confidentiality and Data Security
• Continuous Development and Certification
• Knowledge Check

Assessment

• Post Test

Wrapping Up

• Course Summary