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Bookkeeping Basics Explained (Bookkeeping & Accounting)

Name: Bookkeeping Basics Explained (Bookkeeping & Accounting)
Rating: 4.6 (3803 reviews)

Bookkeeping and accounting explained. Bookkeeping and accounting basics is easy. Simple Bookkeeping and accounting.

Created byCalvin Lee, CPA, CA, MBA

Last updated 6/2026

English

What you'll learn

You get an eBook called "Bookkeeping & Accounting Basics"
Subtitles/captions available in English, French, German, Hindi, Simplified Chinese, and Spanish
Debits and credits
Prepare bank reconciliation
Prepare balance sheet
Prepare income statement
Prepare trial balance
Record daily bookkeeping journal entries
Month-end accrual journal entries
Use QuickBooks Online to record transactions

Course content

9 sections • 61 lectures • 4h 23m total length

Introduction4:06
In this video we talk about the advantages of becoming a bookkeeper, why this course is right for you, as well as examples of topics we will cover in this course.
[EBOOK] Bookkeeping & Accounting Basics0:05
Download my eBook "Bookkeeping & Accounting Basics".
Describe your motivation for taking this course
How to make the most of this course (subtitles, speed up videos)2:22
In this video I discuss how you can get the most out of this course:
Turn on subtitles in English, French, Hindi, German, Simplified Chinese, Spanish
Speed up videos 1.25x or 1.5x to get through lessons quicker

Debit or credit (Part 1)? Assets, liabilities, revenues, and expenses5:24
In this video we talk about debits and credits and how to record assets, liabilities, revenue, and expenses.
Debit or credit (Part 2)? Assets, liabilities, revenues, and expenses4:43
In this video we talk about debits and credits and how to record assets, liabilities, revenue, and expenses.
How much money do I REALLY have in the bank (Part 1)? Bank reconciliation4:50
In this video you will be introduced to how to do a simple bank reconciliation.
How much money do I REALLY have in the bank (Part 2)? Bank reconciliation2:44
In this video you will see another example of a simple bank reconciliation.
Why should you do a bank reconciliation?

Basic bookkeeping vocabulary (Part 1)5:07
In this video we will discuss some basic bookkeeping vocabulary.
Basic bookkeeping vocabulary (Part 2)5:21
In this video we will discuss part 2 of basic bookkeeping vocabulary.
Basic bookkeeping vocabulary quiz
Debits and credits practice & exercises6:37
In this video we will do practice debit & credit exercises.
Bookkeeping practice exercises5:58
In this video we will go over 10 bookkeeping practice exercises.

How much money am I making? Balance Sheet and Income Statement (Part 1)6:42
In this video we discuss what information a balance sheet and income statement shows.
How much money am I making? Balance Sheet and Income Statement (Part 2)2:54
In this video we discuss what an income statement is.
Don't forget to accrue! Month-end and year-end accruals5:01
At the end of every month it is important to accrue expenses that are for that month that will be paid in the future.
Making monthly accruals is an example of which method of accounting?
Getting money from the bank (Part 1): mortgage / loan amortization4:47
In this video we discuss how to record a mortgage/loan from the bank.
Getting money from the bank (Part 2): mortgage / loan amortization6:00
In this video we discuss the 2 methods in recording mortgage/loan amortization.
Making mortgage payments
I bought a computer. How do I record it? Amortization of capital assets6:55
How do you record the purchase of a computer? Do you expense 100% in the year you bought it? We will learn how to record amortization of capital assets in this lesson.
Term deposits & buying stocks: Investments and investment income income8:23
Investing in a term deposit or stock market can earn you dividend or interest income. In this video we look at how to record them in the accounting software.
Why do we amortize capital assets?
Making money by investing: return on capital and adjusting to fair market value5:30
When you make money through investments (i.e. stock market), some companies will give you a return on capital. In this video we talk about how to record a return on capital on investments (i.e. stocks), as well as how to adjust an investment to fair market value.
I want money for my investment: Dividends to shareholders3:55
In this video we talk about how to record dividends to shareholders.
Dividends to shareholders quiz
Customers not paying me: determining bad debts (Part 1)5:00
Some customers won't pay you after receiving your product or service, causing a bad debt on your books. In this video we talk about the methods on how to determine bad debts.
Customers not paying me: determining bad debts (Part 2)4:32
Some customers won't pay you after receiving your product or service, causing a bad debt on your books. In Part 2 of this video we continue to talk about the methods on how to determine bad debts.
This customer won't pay: writing off bad debts6:39
Bad debts quiz
What do you like about this course?
Bookkeeping practice exercises #26:44
In this video we will be doing bookkeeping practice exercises #2.

Bookkeeping & accounting software3:54
An introduction to bookkeeping & accounting software. There are things to consider when choosing an bookkeeping software such as online vs desktop bookkeeping software.
QuickBooks Online overview6:10
In this video I will show you an overview of QuickBooks Online.
Setting up a bookkeeping or accounting software4:17
In this video we talk about how to set up a bookkeeping or accounting software.
My accountant asked for a Trial Balance. What's that?3:39
In this video we talk about what a trial balance is, and why it's an important report for bookkeepers and accountants.

Introduction: Bookkeeping for starting a business3:06
In this video we will talk about how to record initial inject of money into a new business startup.
QuickBooks: issuing shares to shareholder3:54
In this video I will demonstrate how to record an issuance of shares to a shareholder in QuickBooks Online.
Selling to your customers: purchasing inventory2:06
In this video we will talk about how to record purchase of inventory in order to sell to customers.
QuickBooks: purchase of inventory3:02
In this video I will show you how to record purchase of inventory in QuickBooks Online.
Making sales to customers2:39
In this video we talk about how to record sales made to customers.
QuickBooks: sales to customers5:00
In this video I will show you how to record sales to customers in QuickBooks Online.
Getting more customers: Advertising your business2:30
In this video we talk about how to record an advertising expense in the accounting software.
QuickBooks: recording advertising expense3:12
In this video I will show you how to record advertising expense in QuickBooks Online.
Business is booming! Balance sheet and income statement updates2:22
In this video we talk about how the business is booming and the effects it has on the balance sheet and income statement.
QuickBooks: sale to customer and partial payment from customer3:22
In this video I will show you how to record a sale to customer and record a partial payment in QuickBooks Online.
Paying down debts: paying down accounts payable2:16
In this video we talk about how to record a payment on accounts payable.
QuickBooks: payment on accounts payable2:00
In this video I will show you how to record payment on accounts payable in QuickBooks Online.
Sales of inventory: decreasing inventory and recording Cost of Goods Sold2:39
In this video we talk about how to adjust inventory to actual amount, decreasing inventory and recording costs of good sold.
QuickBooks: recording cost of goods sold (COGS)2:35
In this video I will show you how to record cost of goods sold (COGS) in QuickBooks Online.
Getting paid in cash: collecting accounts receivable1:33
In this video we talk about how to record collection of cash from accounts receivable.
QuickBooks: receiving payment on accounts receivable2:09
In this video I will show you how to record receipt of payment on accounts receivable in QuickBooks Online.
Investing more cash into the company: shareholder loan2:51
In this video we talk about how to invest more money into the company through a shareholder loan.
QuickBooks: recording shareholder loan3:33
In this video I will show you how to record shareholder loan in QuickBooks Online.
Purchase of a building: capital assets1:31
In this video we talk about how to record the purchase of a building.
QuickBooks: purchase of a building1:49
In this video I will show you how to record purchase of a building in QuickBooks Online.
Which lessons were most useful to you?
Test your knowledge of bookkeeping

Comprehensive example (journal entries)6:49
In this video you will prepare journal entries for this comprehensive example & exercises.
Comprehensive example (trial balance preparation)4:53
In this video you will prepare a trial balance for this comprehensive example & exercises.
Comprehensive example (balance sheet & income statement preparation)4:58
In this video you will prepare a balance sheet and income statement for this comprehensive example & exercises.
Comprehensive example (bank reconciliation)13:50
In this video we will do a comprehensive example & exercise on bank reconciliation.
Which lesson(s) was the most interesting?

Start a bookkeeping business or freelancing8:23
In this video I will discuss how to start a bookkeeping business or freelancing.
Start a bookkeeping business or freelancing quiz
Common bookkeeping mistakes5:02
In this video we will discuss some common bookkeeping mistakes and how to avoid them.
Keep business finances and personal finances separate4:27
In this lesson I will explain the importance of keeping business finances and personal finances separate.
Types of business structures (sole proprietorship vs corporation)2:32
This video explains the differences between the various types of business structures (sole proprietor, partnership, LLC, corporation)
Sole proprietor and partnership3:16
An explanation of the pros and cons of sole proprietor and partnership business structures.
Corporation and Limited Liability Company (LLC)3:55
An explanation of the pros and cons of a corporation and LLC.
Accrual vs cash accounting methods5:06
In this video we discuss about the difference between accrual accounting and cash accounting.
Bookkeeping & accounting records (supporting documentation)3:41
In this lesson we discuss keeping organized bookkeeping & accounting records for tax authorities and other parties who may ask for supporting documentation.

Requirements

No prior knowledge needed. All you need is a desire to learn!

Description

Course + eBook included

In this course you will learn bookkeeping and accounting basics. By the end of this course, you will have a solid understanding of the main accounts in bookkeeping and accounting, the different financial reports, and I will show you step-by-step how to do bookkeeping and accounting.

Each lesson is around 3-5 minutes, and you can learn at your own pace.

WHY THIS COURSE?

Taught by a CPA, CA, MBA - Calvin K. Lee
Calvin is a top-rated instructor at Schulich School of Business at York University
He has 15 years of experience in bookkeeping & accounting
He has worked in a Big 4 accounting firm (Ernst & Young LLP)
Over 60,000+ students from 176 countries enrolled in his courses
Lifetime access to this course, and you receive new lessons and updates for FREE
Free eBook included in the course
6 languages subtitles/captions: English, Chinese, French, German, Hindi, and Spanish
Certificate of Completion available
30-day money-back guarantee

YOU WILL LEARN:

Debits and Credits
Basic Bookkeeping Vocabulary
Preparing a Bank Reconciliation
Bookkeeping Practice Worksheets & Exercises
How to Start a Bookkeeping Business or Freelancing
Using QuickBooks Online to record transactions
Preparing Balance Sheet and Income Statement
Accounts Receivable and Accounts Payable
Month-end or Year-end Accruals
Mortgage or Loan amortization
Recording Amortization (Depreciation) of Tangible Capital Assets
Recording Term Deposits, and Interest Received from Term Deposits or GIC's
Recording Investments, Dividends & Interest Received from Investments
Recording a Return of Capital from an Investment
Adjusting an Investment to Fair Market Value
Recording Dividend Payments to Shareholders
Closing Dividends into Retained Earnings
Writing-off Bad Debts
Setting up Allowance for Doubtful Accounts
Setting up Accounting Software
Getting Started with Accounting Software
Trial Balance
Examples of the most common daily bookkeeping journal entries
Common Bookkeeping Mistakes
And much more!

WHAT STUDENTS SAY ABOUT THIS COURSE:

"Mr. Calvin Lee is a really good instructor. If you are a beginner and want to learn in a more specific one you better take this course. He will help you understand. Thank you so much Mr. Calvin! Can't wait to enroll in a new course of yours." - Kimberly B.
"This is my first Udemy course & it is very informative, I am learning and grasping ALOT & its exciting and motivating. I feel as though I made a great course and I'm excited to see it through. The layout is good, I appreciate the quizzes and PDF to practice on. Just done in really good taste & I appreciate the effort that was put into it." - Nakia W.
"I like how in depth each video is and the description is easy to understand. the examples allow me to thoroughly understand each concept without being confused or unsure. The small quizzes after lectures help me know what I need to recap on." - Emma B.
“This course is excellent especially for beginners. Easy to understand from Calvin's simple delivery and explanation of content. I signed up for another one of his courses because I learned so much from his course.” - Dawn D.
"All the lessons are useful so far, but I especially like the ones that show how to enter the transactions into the QuickBooks software. The instructor is straight to the point, very easy to follow. It makes so much sense. I am enjoying this course, and my motivation is way higher than when I started." - Kollie Z.
"It was very clear. It's easy for a non-native English speaker to understand your courses." - Amina S.
"Excellent course taught by a professional person with experience, explained each concept to a very high standard. Degree level explanation, good teacher and worth the money spent." - Jamuna
"I like the fact that the course is very short and straight to the point. So far, Calvin's teaching style and his use of a PowerPoint presentation makes the overall course very informative and engaging." - David A.

REGISTER FOR THIS COURSE NOW!

Who this course is for:

Beginner bookkeeping students
Beginner accounting students

Bookkeeping Basics Explained (Bookkeeping & Accounting)

What you'll learn

Explore related topics

Course content

Introduction3 lectures • 7min

Basic Bookkeeping Skills4 lectures • 18min

Bookkeeping Terms & Practice Exercises4 lectures • 23min

More Bookkeeping Basic Skills13 lectures • 1hr 13min

Using Bookkeeping or Accounting Software4 lectures • 18min

Examples of everyday bookkeeping: Computer Store20 lectures • 54min

Comprehensive Bookkeeping Example: Amazing Bookkeepers Inc.4 lectures • 31min

More Bookkeeping Basics Topics8 lectures • 36min

Additional resources1 lecture • 4min

Requirements

Description

Who this course is for: