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How to do Bookkeeping for Beginners (Theory & Practical)
Rating: 4.5 out of 5(95 ratings)
6,947 students

How to do Bookkeeping for Beginners (Theory & Practical)

How to Record Financial Transactions in the Accounting System.
Last updated 5/2025
English

What you'll learn

  • Identify source documents necessary for making initial entries into the books of original (prime) entry.
  • Differentiate between cash and credit transactions and how to record them in the ledgers.
  • How to record in and maintain the cash book.
  • How to account for petty cash in the business.

Course content

1 section15 lectures8h 1m total length
  • Introduction38:22

    By the completion of the lecture, students should be able to differentiate between organisations, learn about financial records and business documents, their purpose, and how they are used in recording. They should also understand the importance of coding in accounting, different coding systems, where to use the codes, and how to create codes. They will also practice creating codes through various activities.

  • Lecture 2: Where and How to Make the Initial Entries (The Books of Prime Entry)56:26

    This lecture covers the types and roles of books of prime entry. The relevance of the books of prime entry and how sales and suppliers' invoices and credit notes are entered in the books of prime entry. The students will learn the difference between invoices and credit notes. The steps to enter sales and supplier invoices are explained and demonstrated. Activities are inserted between slides for illustration and as exercises. At the end of the lesson, downloadable activities are provided for students to complete. The answers to the activities are also offered.

  • Lesson 3: ABOUT VALUE ADDED TAX (VAT) AND DISCOUNTS34:34

    The lesson covers the basics of Value Added Tax (VAT) and various types of discounts offered to customers and received from suppliers. Students will learn how discounts are applied during recording, how to deduct various discounts from invoices, and how to account for the prompt payment discount.

  • Lesson 4: HOW TO RECORD CREDIT SALES50:40

    The lesson covers the purpose of financial statements, the processes involved in preparing an invoice, and how to verify the accuracy of business documents, as well as how to record credit sales.

  • Lesson 5: RECORDING CREDIT PURCHASES16:18

    This lesson teaches how to process supplier transactions, how to check the accuracy of supplier invoices and credit notes and explains in depth four out of the six stages of the purchase process.

  • Lesson 6: RECORDING CREDIT PURCHASES-PART 231:09

    This lesson is a continuation of lesson 5. It continues to explain the fifth and sixth stages of the purchase process, illustrating how to verify the statement of account against entries in the supplier ledger account.

  • Lesson 7: DOUBLE-ENTRY PART 126:24

    Learning how to perform double-entry is an essential skill in this course. This part of double-entry accounting will teach you the principles of double-entry bookkeeping, including the two different ledgers, as well as the application of double-entry for both cash and credit transactions.

  • Lesson 8: DOUBLE-ENTRY PART 223:51

    This lesson is a continuation of lesson 7. It focuses on demonstrating, through examples, how to make entries in the general ledger accounts.

  • Lesson 9: DOUBLE-ENTRY PART 337:26

    This lesson is part 3 of the double-entry bookkeeping system. In this lesson, you will learn how to balance ledger accounts, identify debit and credit balances, and organise them in an initial trial balance. You will also differentiate between subsidiary ledgers, capital and revenue expenditures, and practice activities based on the account equation principle.

  • Lesson 10: DOUBLE-ENTRY ON SALES AND TRADE RECEIVABLES42:42

    This lesson covers recording credit sales and transferring entries from the prime entry books to the general and subsidiary ledger accounts, specifically in relation to credit sales. The relevant accounts associated with credit sales will be explained and illustrated. Additionally, the lesson will demonstrate how to record receipts from credit customers in the cashbook.

  • Lesson 11: DOUBLE-ENTRY ON PURCHASES AND TRADE PAYABLES PART 119:43

    The double-entry lesson on purchases and trade payable is split into two lessons because it is slightly too big. You will learn how to post transactions from credit suppliers into supplier individual accounts, and how to post entries from the books of prime entry related to credit purchases into the general ledger.

  • Lesson 12: DOUBLE-ENTRY ON PURCHASES AND TRADE PAYABLE PART 224:52

    This is part 2 of the double-entry on purchases and trade payables. This lesson covers postings to the general and subsidiary ledgers for accounts related to purchases and trade payables, as well as postings from the books of prime entry to the general ledger. Also, you will be able to understand the flow of information between manual and digital accounting systems.

  • Lesson 13: How to Maintain the Cash Book Part 117:06

    Lesson 13 is about the cash book and how to maintain it. It has been split into two lessons because it is usually a big book. You will learn about the role of the cash book, its two sides, and the entries made in the cash book and identify the documents used to record in the cash book.

  • Lesson 14: HOW TO MAINTAIN CASH BOOK PART 235:22

    Lesson 14 is part 2 of the lesson on maintaining the cash book. It begins with setting up recurring entries, illustrating how to record transactions in the cash book, followed by activities to demonstrate learning. It involves understanding the different roles of the cash book as a book of prime entry only,  and as part of the double-entry bookkeeping system, and posting entries into the general ledger accordingly.

  • Lesson 15: ACCOUNTING FOR PETTY CASH26:08

    Handling petty cash is a crucial function in most businesses; therefore, understanding the various systems involved is covered in this lesson. The lesson covers the responsibilities of the petty cashier and explains how entries in the petty cash book are posted to the general ledger accounts. It also discusses the considerations for treating the petty cash book as a book of prime entry, as well as its role within the double-entry bookkeeping system.

Requirements

  • This course is a foundation course which requires no previous experience except an interest to become a bookkeeper, to pursue a career in Accounting or to secure a financial role. The tools required to engage with the course are: a simple calculator, pen/pencil and a note book.

Description

What is this Course About?

Practical Bookkeeping is a comprehensive course designed to equip students with the foundational skills to understand the starting point of accounting systems. Acquiring the skills delivered in this course will enable students to manage financial records accurately and efficiently. It is purposefully created for small business owners, aspiring bookkeepers and students considering a career in Accounting or Finance. The course emphasises practical applications and hands-on experience through case scenarios.

Students do not need prior experience in finance to participate in the course. It is a course for beginners.

Why is this Course Relevant?

Let's face it, most bookkeeping courses are filled with accounting jargon, and they often fail to incorporate real-world cases frequently encountered in a job or small business. In this course, every aspect is simplified with clear explanations and illustrations. Bookkeeping is a timeless, in-demand skill that remains in high demand. Every business organisation, from the local café near you to a tech company, needs a clean book. Skills acquired can be utilised to secure a steady job, as in a side hustle, or to gain financial control of your own business. This course provides you with the skills to achieve your goal.

What You Will Learn:

· The importance of the documents businesses issue to customers or receive from suppliers, such as till receipts, cheque book stubs, paying-in stubs, invoices, in recording.

· How to extract information from financial transaction documents such as till receipts, invoices, bank statements, and so on, to record in the first books of the business (the books of original entry/prime entry).

· The basics of Value Added Tax (VAT) as it relates to bookkeeping. This is essential due to the comprehensive nature of the course, implying that at the end of this course, you will know how to calculate VAT on products and services, who is allowed to charge VAT on their products or services, and whether to round up or round down. You will learn the difference between input (purchases) and output (sales) tax.

· The difference between kinds of transactions, cash and credit and how to record each type of transaction.

· Differentiate between bulk, prompt and trade discounts and how each type of discount is deducted from the list price of goods before arriving at the amount due to or from a business.

· The stages in credit purchases and sales until payment is made or received, and the steps to prepare an invoice.

· Differentiate between the general ledger and the subsidiary ledger. What they are and what kind of record goes into them. What are they for? Why are they relevant?

· How to complete the initial trial balance. Where the figures are taken from to complete the trial balance. What happens with the digital system of accounting?

· The principle of the Double-Entry Bookkeeping system- the basis of the digital system of accounting.

· How to record in and maintain the cash book.

· How to account for petty cash in a business.

· The responsibilities of the petty cashier.

· How to check the accuracy of business documents.

· How to carry out reconciliations. For example, a statement of accounts from a credit supplier with the supplier’s account in the purchase ledger.

Who is this Course For?

· A student who has chosen a career path in Accounting or Finance.

· An entrepreneur who wants to reduce the cost of accounting services and learn to do their recording accurately, manage their books confidently and make smarter business decisions.

· A job seeker because the course is comprehensive and covers every aspect of bookkeeping. It can help you to obtain a job as a bookkeeper, finance administrator, or office manager. The course will help you stand out in your curriculum vitae (CV) and interview.

What You Can Achieve After This Course:

By the end of this course, you will be able to:

· Set up and manage a complete accounting system, having acquired the skill to track transactions from how it started in the accounting system.

· Categorise and record income, expenses, assets and liabilities.

· Make informed business decisions on whether to use manual or digital accounting systems.

· Work confidently with clients, even without extensive experience.

· Identify errors and know how and where to begin looking for the likely origin of the error or discrepancy.



What Is Included in the Course?

· 8 + Hours On-Demand Video Lessons with Slides. A step-by-step tutorial created to guide beginners.

· Downloadable Activities to practice and consolidate learning for each lesson.

· Downloadable Answers to the activities for each lesson.


About Me:

Maureen Okwara-Amazu is an educator, accountant, and bookkeeper with a passion for equipping others with business skills. I had the opportunity to deliver both accounting and bookkeeping courses at a college in the UK. Over the years, I have supported many students who have gone on to become accountants and bookkeepers. Bookkeeping doesn’t have to be confusing. I have broken down every complex aspect using plain English.

Due to years of facilitating learning and guiding students both physically and visually, I have made the practical bookkeeping course approachable and understandable.


Who this course is for:

  • This course is designed for a beginner who desire to pursue a career in accounting or finance or who want to be a bookkeeper.