Bookkeeping basics

Welcome to “Bookkeeping Basics,” a comprehensive course designed to equip you with the essential skills and knowledge needed to manage financial records effectively. Whether you’re a small business owner, an aspiring accountant, or an individual looking to enhance your financial literacy, this course will demystify bookkeeping and provide you with practical insights into maintaining accurate and organized financial records.

Requirements:

• No prior knowledge of bookkeeping is required.
• Access to a computer with spreadsheet software (e.g., Microsoft Excel or Google Sheets).

What You’ll Learn:

1. Understand the fundamentals of bookkeeping.
2. Learn how to create and maintain a general ledger.
3. Master the art of recording financial transactions accurately.
4. Gain insights into creating financial statements.
5. Explore the importance of reconciling accounts.
6. Understand the principles of double-entry bookkeeping.
7. Learn to manage accounts payable and accounts receivable.
8. Develop practical skills for financial analysis through bookkeeping.

Who the Course is For:

• Small business owners and entrepreneurs.
• Aspiring accountants and finance professionals.
• Individuals seeking to enhance their financial literacy.

Course Outline:

Module 1: Introduction to Bookkeeping

• Sub-Module 1: Importance of Bookkeeping
  • Understanding the role of bookkeeping in financial management.
  • Exploring how accurate bookkeeping contributes to decision-making.
• Sub-Module 2: Basic Accounting Concepts
  • Introduction to key accounting principles.
  • Differentiating between assets, liabilities, and equity.

Module 2: General Ledger Management

• Sub-Module 1: Creating a General Ledger
  • Setting up a general ledger from scratch.
  • Understanding the chart of accounts.
• Sub-Module 2: Ledger Entries
  • Recording transactions in the general ledger.
  • Maintaining organized and categorized financial data.

Module 3: Recording Financial Transactions

• Sub-Module 1: Cash Transactions
  • Recording cash receipts and payments.
  • Managing petty cash transactions.
• Sub-Module 2: Credit Transactions
  • Understanding credit sales and purchases.
  • Recording credit transactions accurately.

Module 4: Financial Statements

• Sub-Module 1: Income Statement
  • Creating an income statement.
  • Analyzing revenue and expenses.
• Sub-Module 2: Balance Sheet
  • Developing a balance sheet.
  • Understanding the financial position of an entity.

Module 5: Account Reconciliation

• Sub-Module 1: Bank Reconciliation
  • Reconciling bank statements with the general ledger.
  • Identifying and resolving discrepancies.
• Sub-Module 2: Periodic Reconciliation
  • Reconciling other accounts, such as receivables and payables.
  • Ensuring accuracy in financial records.

Module 6: Double-Entry Bookkeeping

• Sub-Module 1: Principles of Double-Entry
  • Understanding the double-entry system.
  • Exploring how transactions affect different accounts.
• Sub-Module 2: Practical Application
  • Applying double-entry principles to real-world scenarios.
  • Identifying and correcting errors in double-entry bookkeeping.

Module 7: Accounts Payable Management

• Sub-Module 1: Recording and Tracking Payables
  • Managing accounts payable efficiently.
  • Ensuring timely payments to vendors.
• Sub-Module 2: Vendor Relationship Management
  • Building positive relationships with suppliers.
  • Negotiating favorable payment terms.

Module 8: Accounts Receivable Management

• Sub-Module 1: Invoicing and Recording Receivables
  • Creating and managing invoices.
  • Recording and tracking customer payments.
• Sub-Module 2: Customer Relationship Management
  • Strategies for effective credit control.
  • Managing and reducing accounts receivable aging.

Embark on this journey to master bookkeeping basics, and unlock the door to financial clarity and business success. Whether you’re starting a business or pursuing a career in finance, this course will empower you with the foundational skills needed to navigate the world of bookkeeping with confidence.