Bookkeeping from A to Z

Choose double-entry bookkeeping for more complex legal structures, while single-entry may apply to simpler setups. Seek expert help to navigate VAT, rules, and reporting.

Stay up to date with bookkeeping obligations and regulations, including VAT, registrations, and software integration, and maintain daily administration to ensure accurate records.

Learn the difference: a bookkeeper records and organizes finances, while an accountant interprets, analyzes, and reports on them to offer strategic recommendations.

Bookkeeping registers, records, and organizes financial data to track money in a business. Learn double-entry basics, transactions, and how profit and loss and balance sheets inform owners and tax authorities.

Compare single entry and double entry bookkeeping, emphasizing double entry's general ledger with all accounts and stronger proof for disputes, and note when single entry may apply.

Maintain bookkeeping as an obligation to generate essential information for tax authorities, owners, managers, government, banks, and suppliers, then guide decisions with profit and loss and balance sheets.

Identify a fiscal year as a one-year accounting period, usually January 1 to December 31. Explain how startups or closures extend or shorten it to 4, 14, or 16 months.

Master value added tax (vat) concepts in bookkeeping, including when to apply rates, regional differences, and the idea of added value versus price, using rates of 10%, 15%, and 21%.

Explore how value added tax flows through a supply chain from producer to end user, and how payable vat and recoverable vat are calculated at each stage.

Split vat by applying different vat rates to multiple products on invoices and receipts, using examples with 6% and 21% rates to calculate payable vat.

Learn how VAT rates differ by function, such as buying tea leaves at 6% but selling tea at 21%, and how splitting receipts or menus ensures correct rates.

Learn to file VAT online by calculating payable and recoverable VAT, and decide monthly or quarterly filing based on revenue and industry while keeping bookkeeping up to date.

Calculate VAT by applying the rate to the net price, then add tax for the sales price; or reverse with the sales price divided by 1.06 to recover net price.

Learn when to apply VAT by ensuring authentic invoices show VAT rates, as receipts often omit rates, while accounting rules distinguish private versus business use and partial recoveries.

Explore when VAT does not apply or is administrative, including 0% VAT, reverse charge, and intra-community deliveries or purchases.

Understand when to apply vet on invoices by calculating the taxable amount after sales discounts, cash discounts, and packaging charges, including returnable and non-returnable packaging.

Double-entry bookkeeping requires a minimum of two lines across two accounts, showing money moving from the bank to the cash register and to supplier invoices.

Learn how double-entry bookkeeping records a €1,000 inventory purchase with cash, contrasting single and double entries, and use journal posts and t accounts to balance assets and liabilities.

Explore the three main books of bookkeeping: sales book, purchase book, and general ledger, including the cash book that tracks bank and cash receipts and disbursements.

Track every monetary document and money movement in your business, recording invoices, payments, and internal transfers, accounts payable and receivable, while noting value losses or increases in the general ledger.

Explore how a journal post records monetary transactions in the ledger, with notes, dates, and two-step entries from purchase to payment, linking to accounts and t accounts.

Discover how the chart of accounts uses class numbers 1–7 to classify assets, liabilities, inventory, accounts receivable/payable, expenses, and revenues, guiding every journal entry for a clear balance sheet.

Register transactions and supporting documents in journals and subledgers, then combine accounts into ledgers to form the profit and loss statement and balance sheet.

Explore how a two-step double-entry post affects inventory, cash, and accounts payable on the balance sheet, showing debits and credits that keep assets and liabilities in balance.

Master journal posts by applying debit and credit rules to balance sheet and profit and loss statement, linking assets, liabilities, and accounts.

Explore how the balance sheet snapshots a business's assets and liabilities and keeps them equal, with assets on the debit side and liabilities on the credit side.

Explore how the chart of accounts structures the balance sheet, showing long-term liabilities and assets like fixed assets, inventory, and financial assets, while short-term accounts cover receivable and payable.

Discover how balance sheet accounts (classes 1–5) and profit and loss accounts (6–7) drive year-end results. Learn debits and credits, assets, and liabilities to ensure accurate bookkeeping.

Balance the year-end balance sheet by reconciling all accounts, recording credits and debits, and verifying receivables, payables, taxes, and depreciation for accurate reporting.

Invest €100,000 of owner's capital to start the business, creating a bank asset and owner's equity. Observe how the balance sheet shows assets and equity with no loans.

This example shows investing €100,000 and then buying €40,000 of computers, shifting cash to fixed assets while liabilities stay unchanged, keeping the balance sheet balanced at €100,000.

an example shows buying inventory on 30-day terms creates accounts payable, increasing assets (bank account, computers, inventory) and liabilities, illustrating balance-sheet mechanics.

Analyze a practical balance sheet example, tracing asset and liability changes from owner investment, supplier extensions, and a 200,000 bank loan to buy a building and inventory.

Explore how small businesses finance growth by pairing owner investments, loans, and supplier terms with current and noncurrent liabilities, plus profits, to fund operations and expansion.

Examine how investors differ from non-current liabilities: investors own shares and share profits and losses, while loans generate interest and do not share profits or losses.

Define profit as revenue minus costs and explain applying rules, reserves, and taxes to calculate net profit and reinvest it in the business, reporting via a pnl.

Learn how to record non-monetary investments—valuing assets like vehicles, software, or property, and deciding when renting or loaning assets to your business affects the balance sheet.

Explore how a business loan functions as a non-current liability, affecting cash flow, interest costs, and balance sheets. Understand collateral needs, fixed terms, and annual non-current to current conversions.

Set up a fiscal-year bookkeeping for bloom flower shop, starting with owners' financing and a 100,000 euro bank loan, and record journal posts for assets, liabilities, and owners' equity.

Learn to book a business loan by recording bank assets, recognizing the loan as a liability, and moving from non-current to current liability while separating capital from interest costs.

Learn how money deposits lock funds in a blocked bank account, must be booked as an asset on the balance sheet, and how bank guarantees avoid blocking funds unless invoked.

Record and reconcile five bookings—from bank increases to contributed capital and long-term loans—then build the opening balance and a basic balance sheet with assets and liabilities.

Discover the difference between costs and expenses in bookkeeping, including when money leaves the business, depreciation of assets, and how to book purchases, inventory, and loans.

Identify whether purchases are inventory or other costs by examining their purpose, and book them to the correct accounts—inventory for resale or production, others for non-inventory uses.

The lecture explains how to classify non-inventory costs as expenses, suggesting specific accounts (insurance, repairs, telecom, internet, public transportation) and distinguishing own vehicle costs from public transportation, to improve clarity.

Learn to distinguish investments from expenses and inventory using the €1,000 rule, assess asset longevity, and apply depreciation with a depreciation table for items like vehicles and equipment.

Spread depreciation across an asset's cost over its fixed lifespan, usually using the straight-line method. Treat depreciation as a cost, and apply salvage value to reduce the depreciable amount.

Analyze how invoices become costs and expenses, note that depreciation is a cost, not an expense, principal payments are expenses, not costs, and that investments involve expense invoices.

learn what an invoice is and how to compose legit invoices with date, chronological numbering, detailed descriptions, quantities, prices, delivery notes, seller and buyer details, bank info, and payment terms.

Find out who should receive an invoice and when to issue one for business purchases, noting wholesalers usually provide invoices and large purchases or installments typically require them.

Invoice at delivery or completion to speed payment; practical timing is about two weeks, up to four, with invoices as the booking document and other papers as proof.

Learn how credit notes reverse invoices, when to issue them, and how they reduce an invoice and vet while affecting supplier, bank, and inventory accounts.

Register vat on invoices, apply correct rates (1, 10, 15, 20), and record recoverable versus payable amounts with a proper split.

Learn the two-step process for purchasing in bookkeeping: book the invoice using cost or asset accounts and recoverable VAT, then pay the supplier from bank or cash, with accounts payable.

Learn how to book purchases of inventory for a flower shop, distinguish costs from assets, handle delivery costs and recoverable vat, and record supplier payables through accurate journal entries.

Record a second purchase of €20,000 in vases from a supplier, with 15 days payment extension and €1,200 recoverable VAT, classified as a cost for resale in journal seven.

Explore purchasing example explanations: book purchases with receipts rather than invoices, address no-vat items, and record payments to suppliers like fresh and clean using debits, credits, and bank payments.

Track outstanding suppliers, record purchases and payments, and book key expenses—insurance, rent, utilities, repairs, furniture, and a website—using a January-first, copy-paste approach for the year.

Explore how to record purchases such as insurance, rent, repairs, and utilities using debit and credit entries, including recoverable vet and supplier accounts.

Group suppliers under accounts payable (account 440000) to view the total owed, about €50,731.30, and reflect this as a liability on the balance sheet.

Demonstrate recording furniture and website purchases as assets with vat handling and recoverable vat, classify hosting costs as expenses, and apply straight-line depreciation over five years to both assets.

Record purchased costs and investments, book all invoices, and prepare depreciation tables. Pay suppliers and book the payments.

Pay invoices efficiently by recording payments against supplier liabilities using a bank account or cash register, and track journal posts, debit and credit effects, and installment payments.

Explore how the balance sheet shows owners' equity, assets, and liabilities, including inventory, accounts payable, and loans, and learn year-end adjustments that affect revenue, costs, and equity.

Book invoices, receipts, investments, and bank payments to learn journal posts, the balance sheet, and depreciation tables; distinguish costs from expenses and preview credit notes, discounts, and returnable packaging.

Explore how to handle credit notes alongside invoices, including recording recoverable VAT, adjusting liabilities, and balancing debits and credits in T accounts for a flower purchase scenario.

Explore purchasing with discounts and returnable packaging, including a 2% cash discount for seven-day payment, and how to account for delivery costs and packaging as assets.

Learn how to record international purchases without VAT by booking a recoverable VAT and a payable VAT as a zero operation, illustrated with a vase purchase from Germany.

Master the purchasing cycle—from booking investments and payments to depreciation, inventory, VAT handling, and discounts—then apply journal posts, T accounts, and balance sheets as you move to selling.