Book-keeping and Accounts
Book-keeping Level 2 Module 1 (IAB Level 2)
Course Content
Lesson 1: The role of the book-keeper, the difference between capital, assets and liabilities, the dual effect of transactions and the double entry system, the accounting equation, the difference between cash and credit transactions, preparing simple balance sheets, identifying transactions in ledger accounts
Lesson 2: The basic principles of Value Added Tax, calculating VAT, constructing sales invoices, trade and cash discounts, posting sales invoices to the General Ledger
Lesson 3: Checking purchase invoices for accuracy, credit notes, posting purchase invoices and credit notes to the General Ledger, the purpose of the Purchases Day Book, Purchase Ledger, posting an Analysed Day Book to the General Ledger and Purchase Ledger
Lesson 4: purpose of an Analysed Sales Day Book, making postings to the General Ledger and Sales Ledger, understanding why Returns Day Books are used, identifying debit and credit entries, using day books confidently and accurately.
Lesson 5: Why the Cash Book is used, processing Cash Book payments and receipts, balancing the Cash Book, preparing a postings list, preparing a 3 column Cash Book
Lesson 6: Why the Petty Cash Book is used, processing Petty Cash payments and receipts, balancing the Petty Cash Book, preparing a cheque requisition
Lesson 7: Using a Postings List to update the General Ledger, updating the Sales and Purchase Ledger from the Cash Book, balancing ledger accounts, posting balances from a list, coding day books
Lesson 8: The purpose of a trial balance, preparing a trial balance, demonstrating the ability to maintain day books, prepare ledger balances and extract a trial balance
Final Accounts I :
Course Content
Lesson 1: Principles of double entry book-keeping. Preparing Nominal Ledger accounts. Preparing a list of balances
Lesson 2: Use of the Profit and Loss account. Stages in the accounting process. Preparing a Postings Summary
Lesson 3: Timing differences. Preparing a bank reconciliation statement
Lesson 4: Understanding the payroll process. Using a Payroll Summary Record to prepare a posting summary. Making the postings to the Nominal Ledger
Lesson 5: Purpose of the Nominal Ledger in business accounts. Writing up the Nominal Ledger accounts
Lesson 6: Using the Nominal Ledger to prepare a preliminary Trial Balance
Final Accounts II :
Course Content
Lesson 1: Adjustments made to the Trial Balance. Capital Expenditure and Revenue Expenditure. Calculating depreciation and amortisation figures. Calculating accruals and prepayments. Bad debts. Calculating the value of stock
Lesson 2: Using the Journal. Double entry to be used for the most common year-end adjustments. Making Journal entries in order to record adjustments made in the ledger accounts
Lesson 3: Extending the Trial Balance to include Journal entries, accruals and prepayments. Calculating the profit, or loss, of the business
Lesson 4: Preparing the P&L account and Balance Sheet. Calculating the gross profit percentage. Calculating the mark up percentage
Lesson 5: Closing off the ledger accounts. Identifying which balances are transferred to the next accounting period and which are transferred to the Profit and Loss account
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Basic Book-Keeping :
Course Content
Module 1: record the early transactions of a business
Module 2: complete Cash Book Payments
Module 3: complete Cash Book Receipts
Module 4: complete the Petty Cash Book
Module 5: balance the Cash Book and reconcile a Bank Statement
Purchase Ledger :
Course Content
Lesson 1: Introduction to credit purchases, purchase invoices, completing the Purchases Day Book
Lesson 2: The purpose of keeping a Purchase Ledger, locating information to be recorded in the Purchase Ledger accounts, writing up Purchase Ledger accounts, cross-referencing entries in the Purchase Ledger with the Purchases Day Book and Cash Book
Lesson 3: Reconciling the information contained in a supplier’s statement, preparing a list of balances from individual Purchase Ledger accounts, writing up a Purchase Ledger Control Account, detecting errors between the Purchase Ledger Control Account and the Individual Purchase Ledger Accounts, Stock records, the importance of accounting for all VAT
Sales Ledger :
Course Content
Lesson 1: Introduction to credit purchases, sales invoices, completing the Sales Day Book.
Lesson 2: The purpose of keeping a Sales Ledger, locating information to be recorded in the Sales Ledger accounts, writing up Sales Ledger accounts, recording bad debts in the Sales Ledger, cross referencing entries in the Sales Ledger accounts with the Sales Day Book and Cash Book.
Lesson 3: Recording contra entries, preparing a list of balances from the individual Sales Ledger accounts, writing up a Sales Ledger Control Account, detecting errors between the Sales Ledger Control Account and the Individual Sales Ledger Accounts.
Lesson 4: Maintaining a self-managed Credit Control System, using an Ageing Analysis, procedures when accounting for VAT to Customs & Excise.
Sage Line 50 :
Course Content
Lesson One: Including: overview of the Sage program, VAT accounting setup methods, customers and suppliers opening balances, entering a new customer and supplier, data protection and security, backing up accounts data
Lesson Two: Including: restoring data from a previous lesson, entering opening balances in the nominal ledger, preparing and printing a trial balance
Lesson Three: Including: changing the program date, checking data, making stock adjustments in, entering supplier invoices for products and services, posting error corrections, amending existing customer and supplier records
Lesson Four: Including: creating customer invoices, previewing and printing customer invoices, checking the activity on a selected customer account, updating ledgers, generating customer letters, entering details of a new product
Lesson Five: Including: entering customer and bank receipts, part payment, producing statements for customers, the customer and supplier dashboards
Lesson Six: Including: processing payments made against supplier invoices, processing other payments, entering petty cash payments and restoring the petty cash float, doing a bank transfer, using a journal to correct errors, using a journal to update the accounts with payroll details, know about the structure of nominal accounts, add a new nominal account
Lesson Seven: Including: reconciling the November bank statement, printing and viewing bank reports and day books, using criteria to view specific reports, printing out the audit trail, correcting basic entry errors, reconciling the debtors and creditors control accounts
Lesson Eight: Including: deleting obsolete customer and supplier records, setting up a customer to receive settlement discount, using memorise and recall in the batch supplier invoice window, creating sales credit notes, processing purchase credit notes, adjusting stock records
Lesson Nine: Including: posting a payment on account, allocating a payment on account, processing a receipt that includes settlement discount, using memorise and recall in the bank window, setting up a recurring entry, deleting a recurring entry
Lesson Ten: Including: entering several journals, reconciling the December bank statement, checking and reconciling the VAT return, the VAT transfer wizard, printing out a trial balance, producing profit & loss and balance sheet for management accounts
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