If you simply want to teach yourself the ins and outs of basic bookkeeping then this course is perfect. The course comes complete in a college folder complete with exercises and assignments to check your understanding as you progress complete with all the answers. A fantastic way of testing the waters before deciding on bookkeeping as a career. Ideal for those considering or actually running a small business. The course covers all of the following over nine seperate modules as below. Various assignments and exercises are laid out within allowing students to put their skills to the test. The course is provided on a self study basis without support.Module One: Starting up a business Business categories Bookkeeping and bookkeepersReasons for keeping records HMRC Legal requirements The principles of double entry bookkeeping Types of accounts Profit and loss, balance sheet and cash flow Getting used to debits and credits Module Two: An introduction to VAT What is VAT? Input and output tax VAT rates VAT schemes Registering a business for VAT #Records that need to be kept VAT account #VAT returns How to calculate VAT at 17.5% How to calculate vat at reduced rate of 5% Showing VAT on invoices Example VAT invoice layout Module Three: Books of original entry What are the books of original entry? How are the books of original entry used? Source documents for the books of original entry Sales day book Purchases day book Returns inward day book Returns outward day book Cash bookBalancing the cash book Setting up a two column cash book Petty cash and the imprest system The general journal Making opening entries in the general journal The purchases of fixed assets in the journal The correction of errors in the journal Credit control The terms creditors and debtors explained Module Four: The purpose of ledger accounts The sales ledger The purchase ledger The general ledger Capital expenditure and revenue expenditure Nominal, real and personal accounts Make opening entries in the ledger accounts Posting to the ledger accounts Calculating and recording the balances in the ledger accounts How to balance ledger accounts Writing off bad debts Payroll transactions Module Five: Bank reconciliation Checking the bank statement against the cash book Creating the bank reconciliation statement Updating the cashbook Module Six: Trial balance What is a trial balance? Why you need to perform a trial balance Examples of debit balances and credit balances Errors in the trial balance Types of errors that the trial balance does not disclose Actions to take to correct errors Module Seven: Business administration Setting up business documents Producing business documents A sample VAT sales invoice A sample credit note A sample customer statement of account Module Eight: The data protection act Sale of goods Key facts Banking: functions and services Business current account Paying in slips Bank giro credits/credit transfer BACS Standing order Direct debits Internet banking Module Nine: End of course exercises Post opening balances Post details to the cash book Post sales and purchase invoices to the sales and purchase day books Post petty cash expenses to the petty cash book Balance the day books and post balances to the ledgers Prepare the VAT account Balance off the ledger accounts and extract a trial balance
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