Course Aims

To have a basic understanding of the daily expenditure and revenue of a business, recording expenses and keeping track of sales and customers.

The skills participants will develop will be to

Understand the purpose of accounts

Keep records of sales and purchases

Deal with returns

Understand the relation of the journals to the ledger

Make entries in the sales ledger and purchases ledger

Use a double entry system

Use Folio numbers

Post journals to the ledger

The course is for

Anyone who needs to keep simple business accounts or  wishes to progress in bookkeeping and needs to understand how to manage the financial records of a business.  This will serve as a good basic theoretical introduction to the methods and techniques used.

Topics covered

The sales and purchases journal; what do they look like and what is included

The returns journal and its purpose; sales and purchases returns

Making journal entries; what information is required and how it is recorded

The ledgers; sales and purchases

Double entry bookkeeping - complementary entries & the rules

Layout of ledger entries

Folio numbers and their use in ledger entries

Posting of journals to the ledger

The journal 'proper'

Balancing the accounts

The general ledger

The VAT account and expenses ledger

The benefits

This course will help to explain the system of financial documentation required by a business in its accounting procedures and how to maintain these.  The theory is complemented by practical exercises throughout the course and delegates will leave having completed activities in each area of financial transactions.  This course will enable delegates to show the financial state of the accounts and the profitability of the business.

Course duration 1 day