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Course Description

Learn the basics of double-entry bookkeeping, including how to analyze and record financial transactions and how to prepare various financial reports at the end of the fiscal period. Accounts receivable, accounts payable, payroll procedure and more will be covered.

Course Outline

Learn about account classifications, account titles and "T" accounts. Understand the accounting equation. Learn how to analyze transactions, enter them into the general ledger and prepare a balance sheet. Learn how to journalize transactions and post to the general ledger. Learn how to journalize cash purchases, purchases on account and payments on account and post to the accounts payable ledger. Learn how to journalize cash sales, charge sales and payments received on account and post to the accounts receivable ledger. Learn how to compute gross and net pay and journalize a payroll. Learn how to write checks, complete deposit slips and prepare a bank reconciliation form. Learn how to post journal totals to the general ledger and prepare a schedule of accounts payable and a schedule of accounts receivable. Learn how to prepare a worksheet. Learn how to prepare four end-of-year financial reports. Learn how to journalize and post adjusting entries. Learn how to journalize and post closing entries and prepare a post-closing trial balance.
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