Bookkeeping for Small Business (Online)

Venue:
Online
 
Date:
08/04/2020
 
Note:
Tuesday 7th April and every Tuesday after for eight consecutive weeks
 
Time:
10am
 
Category:
Business Training
 

To ensure that small business owners, who may not have an accounting or finance background, are equipped with the basic accounting skills they need to run their own business and manage their business finances. After this course they will also have the skills, confidence and knowledge to assess, understand and, if necessary, query the Financial Statements and Tax returns being prepared for them by third parties.

This event is no longer available
 

Course Aim:

To ensure that small business owners, who may not have an accounting or finance background, are equipped with the basic accounting skills they need to run their own business and manage their business finances. After this course they will also have the skills, confidence and knowledge to assess, understand and, if necessary, query the Financial Statements and Tax returns being prepared for them by third parties.

 

Course platform:

Each group has their own Moodle course integrating:

  • Course Material
  • Course Recordings
  • Course Assignments (Quizzes and case studies as appropriate)
  • Participant forum and Private Chat facility
  • Tutor forum for advice and tips from course tutor
  • Individual Dashboard

 

Course Resources:

  • Guide to Effective Online Learning
  • Sage Software for the duration of the course and 8 weeks thereafter.
  • Bookkeeping Manual with up to date legislation, VAT and worked examples.
  • Tutor to camera recorded examples of manual and computerised material.
  • Case studies using true to life scenarios for participants to practice.
  • Business resource section including business guides and useful information

Course Content:

EFFECTIVE LEARNING GUIDE

UNDERPINNING KNOWLEDGE      

  • Professional Ethics            
  • Basic Business Structures
  • Different Reporting Systems         
  • Financial Accounting versus Management Accounting          
  • Relevant Contract Tax      1
  • Basic Business Concepts and Principles      
  • Legislation Relevant to Bookkeepers          
  • Data Protection Act and the General Data Protection Regulations (GDPR)
  • Anti-Money Laundering   
  • Health and Safety in the Workplace
  • The Importance of the Chart of Accounts (COA)
  • Basic Principles Involved In Double Entry Bookkeeping
  • The Accounting Equation
  • The Value of Capital          
  • The Basics of Double Entry Bookkeeping   
  • The Importance of IT Systems and Security
  • What is Fintech?
  • Cyber Fraud and Cyber Attack       
  • Methods of Payments and Receipts             
  • Security relating to bank payments              
  • Key Terms that Link together        
  • Test Your Knowledge

PREPARATION OF BUSINESS DOCUMENTS               

  • The Flow of Documents in a Purchase Transaction  
  • Identifying and Resolving Discrepancies     
  • Authorisation and Payment           
  • Preparing Statements for Customers/Debtors          
  • Filing Sale and Purchase Documents           
  • Coding Invoices and Credit notes 
  • Preparing Invoices and Credit Notes            
  • Preparation of Invoices   
  • Calculation of Trade Discount        
  • Test Your Knowledge      

ACCOUNTING FOR VALUE ADDED TAX (VAT)

  • VAT Registration
  • VAT Rates
  • Calculating the VAT element of the price charged
  • Calculating VAT Liability
  • VAT 3
  • Filling in a VAT 3 Form      
  • Sample VAT 3 Calculations              
  • Irish VAT and International Trade AKA Cross Border Trade   
  • Test Your Knowledge       

ENTERING TRANSACTIONS IN DOUBLE ENTRY SYSTEMS     

  • Buying and Selling On credit          
  • Entering Credit Purchases and Sales in your Bookkeeping System.     
  • Recording Credit Sales and Purchases in Day Books
  • Posting to Nominal Ledgers           
  • Posting Credit Transactions to the Debtors Ledger and Creditors Ledger         
  • Entering Cash Receipts and Payments on your Bookkeeping System.
  • Posting Cash Transactions to Nominal Ledgers        
  • Posting Cash Transactions to the Debtors Ledger and Creditors Ledger           
  • Petty Cash Transactions  
  • Posting to the Nominal Ledgers from the Petty Cash Book   
  • Journals
  • Entering Transactions from the Journal to Nominal Accounts              
  • Balancing Nominal Accounts and Extracting a Trial Balance  
  • Test Your Knowledge      

FURTHER BOOKKEEPING PROCEDURES    

  • The Suspense Account    
  • Bank Reconciliation          
  • Bank Reconciliation Procedure     
  • Reconciling Creditor and Debtor Accounts
  • Dealing with Errors           
  • Dealing with Bad Debt     
  • Test Your Knowledge

COMPUTERISED ACCOUNTING USING SAGE

  • Application of all the above using Sage 50
 

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