What You'll Learn
- Lesson 1: Fundamentals of Bookkeeping
- Introduction to Bookkeeping
- Importance of Bookkeeping in Business
- The Accounting Equation
- Different Types of Accounts
- Debits and Credits
- Overview of the Bookkeeping Cycle
- Lesson 2: Understanding Double-Entry Bookkeeping
- Concept of Double-Entry Bookkeeping
- Journal Entries and Ledger Accounts
- Balancing T- Accounts
- Trial Balance Preparation
- Adjustment Entries
- Rectification of Errors
- Lesson 3: Managing Accounts Receivables and Payables
- Understanding Accounts Receivable
- Strategies for Managing Receivables
- Recognizing Bad Debts and Write-offs
- Grasping Accounts Payable
- Methods for Managing Payables
- Payment Terms and Discount Options
- Lesson 4: Preparing Financial Statements
- Introduction to Financial Statements
- Constructing the Income Statement
- Articulating the Statement of Owner’s Equity
- Developing the Balance Sheet
- Crafting the Cash Flow Statement
- Understanding the Notes to Financial Statements
- Lesson 5: Using Bookkeeping Software Solutions
- Overview of Bookkeeping Software Options
- Setting Up a Bookkeeping System
- Automating Transactions and Data Entry
- Generating Reports and Analysis
- Integrating Bookkeeping Software with Other Systems
- Ensuring Data Security and Backup Procedures