Bookkeeping: Introduction

Course Summary

Learn the fundamentals of bookkeeping in this comprehensive course

Great at your business but don’t really understand the financial aspects?

This practical course will provide you with an insight into and appreciation of why bookkeeping is one of the cornerstones of running a good business. Cloud-based accounting and specialist software packages can make the job much easier, but without an understanding of the fundamentals you may quickly find yourself in a mess. 

Learn how a business can organise its transactions using the double entry bookkeeping system, giving you the ability to produce financial reports which enables you to make accurate and timely financial decisions.

Bookkeeping course contents

Obtain an understanding of basic bookkeeping concepts and terminology

Work through practical examples and learn how to organise your transactions into:

• Business transactions
• Journals with Drs and Crs
• T accounts
• Trial Balance
• Profit and Loss
• Balance Sheet

Learn how to do a bank reconciliation and why you would do one

Gain an understanding of:

• the ATO Tax System – ABN and GST
• the legal requirements for a Tax Invoice
• Learn about cash and accrual accounting and the difference between the two
• Understand the use of subsidiary records, including Debtors and Creditors
• Appreciate the value of Record Keeping and gain some tips to help you set up your filing system
• Be introduced to Payroll including how to on-board a new employee – what documents you need and what information you should gather
• Receive a brief introduction to bookkeeping in the cloud – learn about your choices from the software companies.

 ** As part of this course you will receive a copy of Bookkeeping for Dummies (3rd Australian & New Zealand edition, R.R.P $39.95)

Who is this course suited for?

Business owners who wish to manage their own bookkeeping but do not know how, or wish to be better informed when dealing with their own bookkeeper, BAS Agent and accountant.

People considering (or using) cloud based bookkeeping packages but who do not understand the underlying bookkeeping fundamentals.

Those who find it difficult to interpret financial statements.

People interested in a potential career in bookkeeping and aren’t sure where to start.

What should I bring on the day?

Please bring along a pen and paper (or laptop) to each session. A calculator is also handy although most smartphone calculator apps will suffice.