Liberty Accounts

Learn how to use Liberty accounting software to perform common essential bookkeeping tasks
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Instructed by Lisa Newton IT & Software / Other
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  • Lectures 37
  • Length 3.5 hours
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 11/2016 English

Course Description

Liberty Accounts Software course is about how to use Liberty Accounts based on the most popular functions which you as a Liberty Accounting operator needs to know how to use, in order to be proficient in using the software.

The learning is structured in a practical way. You are given a practical scenario assignment. There are various tasks to complete. You are given the task to do and have a go at, and then the video answer is available. It is suggested that you:

  1. Read the task
  2. Watch the video
  3. Have a go at it yourself on your own system
  4. Rewatch the video (if necessary) - to reinforce the learning

You’ll learn how to set up the Liberty accounting system from scratch, how to enter opening balances, post customer invoices and credit notes, post supplier bills and credit notes, pay suppliers, petty cash, prepare a VAT return, reconcile the bank, post journals, run reports amongst over things.

This is a useful course if:

  • You are thinking of working with the software,
  • You are going for jobs which have a requirement for you to be able to use this software
  • You want to put this skill on your CV, or
  • You are a bookkeeper or accountant and will be using this for clients or even
  • You run your own business and want to know how to use Liberty Accounts for yourself.


You will be given free access to Liberty Accounts. The software is completely free. This course is based on the free version. As a tutor who has assessed various 'free' accounting software packages out there, in comparison to others, this was one of the easiest and it had a lot of functionality.

The course materials includes the handout of the assignment task.

Successful completion of the course is the equivalent to being at the level of having a level 2 certificate in computerised accounts.

The course will take about 3-4 hours to complete.

What are the requirements?

  • You'll need access to Liberty in order to complete the assignment
  • You'll get access to Liberty for 14 days - for free, so preferably once the software trial is activated, you need to complete the assignment within that time frame
  • In lecture 1 - we show you where to download the software.

What am I going to get from this course?

  • By the end of the course you will be able to complete various common functions using Liberty Accounts
  • In this course, you will learn how to:
  • Enter the opening balances
  • Amend the nominal ledger
  • Add new customer and supplier details
  • Post customer invoices and credit notes to the sales ledger
  • Post supplier invoices and credit notes to the purchase ledger
  • Enter the supplier cheques and record the customer receipts
  • Post Petty Cash transactions
  • Prepare the VAT return
  • Reconcile the bank
  • Post the wages journal
  • Post adjustments to the accounts and produce month-end reports

What is the target audience?

  • Bookkeepers and Accountants who will be using Liberty for their clients
  • Students who are going for jobs where the requirement is working knowledge of Liberty
  • Those who have studied accounting, but want practical knowledge of how to use a free accounting software which will help them find employment
  • Previous knowledge of accounting is not presumed or required
  • Charities who are doing their own bookkeeping and are looking for a software to use and want help knowing how to use it properly

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Getting Prepared - Access the software and course materials
Introduction to the course and your tutor
Preview
05:56
Free trial sign up
Preview
02:30
Activate Liberty accounts
Preview
06:50
Section 2: Getting Started
Amend the chart of accounts
03:52
Add opening balances
13:52
Report opening trial balance
09:41
Section 3: Setting up the system
Reverse opening balances - accruals and prepayments
05:20
Reverse the opening accrual - show a report
02:23
Section 4: Nominal Ledger
Amend the nominal ledger
09:33
Section 5: Customers & Suppliers
Add new customers
07:50
Customers report
01:02
Add suppliers
05:12
Section 6: Sales Ledger
Post Customer invoices 1001-1003
07:27
Customer invoices 1004-1008
05:26
Post customer credit notes
05:17
Customer account activity
05:38
Section 7: Purchase Ledger
Post Supplier invoices
11:34
Post Supplier Credit Notes
04:49
Supplier activity and aged creditors report
03:13
Enter supplier cheques
07:37
Supplier payments reports
01:26
Post receipts from customers
06:06
Section 8: Petty Cash
Post petty cash - top up
05:15
Petty cash payments part 1
19:09
Petty cash payments part 2 (no 27 onwards)
10:08
Petty cash payments report
01:21
Sundry payments
05:18
Sundry payments report
03:06
Section 9: VAT Return
VAT Return
04:07
Section 10: Banking
Reconcile the bank
05:50
Unreconciled transactions
02:42
Post the wages
07:55
Wages journal report
01:54
Month end adjustments
05:41
Month end reports
03:44
Section 11: Conclusion
Recap and how it all fits together
05:41
What happens next?
01:49

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Instructor Biography

Lisa Newton, Entrepreneur & Serial Author

Lisa Newton BA MSc FMAAT has a masters degree in Investment Management and a first class honours degree in Accounting with Marketing. She formed her first company in 2004 with £150 in the same month of graduating from City University, London UK. Lisa has never had a full time 9 to 5 job in her life. She's a serial entrepreneur and author who holds directorships in various industries including telecoms, software, hair & beauty as well as finance. She has won various awards in Business including: Young Entrepreneur of the Year Award 2007 and in 2008 Enterprising Business Award and has been nominated and shortlisted in numerous others. In 2011 and in 2012 one of her companies won Best Accounting Franchisor Award.

Lisa's books include: How to write a book in two weeks, Constant Cashflow, Make the most of your money, How to start your own bookkeeping business, Cosmic ordering with Vision Boards and Quickbooks Online The Handbook. Some of the books are in audio-format on itunes and audible.

Lisa supports the charity The MS Society. A speaker, coach, consultant and an avid networker, Lisa enjoys meeting people and working on projects with like-minded individuals.

In her spare time, Lisa likes traveling, dancing salsa, writing books, learning languages, meditation and cosmic ordering.

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