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Manual bookkeeping covers the material equivalent to a certificate in manual bookkeeping level 2. You will need to have come across the concept of double entry bookkeeping before. On this course, we look at how to update the ledger accounts. We take these end balances on the ledgers and use them to prepare a Trial Balance. From the figures on the Trial Balance, we prepare a Balance Sheet and a Profit and Loss Account.
We also take the figures on the VAT account, make an adjustment for Bad Debts and use the figures to prepare the figures for a VAT return.
This course is ideal for students learning about manual bookkeeping and wanting more practice and teaching. We show the workings on the screen (using an excel spreadsheet to speed up the calculations). You can do this course just using a pen and paper. We would recommend that you use lined paper, and have a calculator when doing this course.
The course workbook is included as are the suggested answers on paper, so you can print this off and check and mark your own answers as well as follow the tutor on the screen when working through the scenario and questions.
The course will take about 3 hours to complete. The course is structured around various scenarios which place you as a bookkeeper in various organisations / for self employed individuals, and we are doing their bookkeeping, using a manual method.
This course is useful if you want to learn more about manual bookkeeping, and also, if you want to have a better understanding of bookkeeping in general. Even if you are currently using a bookkeeping software... the knowledge gained on this course will really help you to understand what is going on 'behind the scenes' of the program. Software is great, because it saves us time, but if they go wrong, having a manual understanding is very helpful because then you'll know WHY the accounts are incorrect, and how to fix it.
The course tutor is a Fellow Member of the AAT (Association of Accounting Technicians) and first learned manual bookkeeping skills in 1996, and has been using computerised methods since 2003, but has always found the manual knowledge has helped her to be a better bookkeeper.
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|Section 1: Manual Ledgers|
What we'll cover, intro to the lecturer. Download the course paper and answer booklet.
Behind the scenes - how bookkeeping works
Prepare the sales ledger control accounts
Prepare the purchase ledger control accountsPreview
Prepare a journal entry to write off a bad debt
Update the Cash Book
Prepare the Bank Reconciliation
Prepare a Trial Balance
Post the transactions from the sales day book - starting opening balances
Post the transactions from the sales day bookPreview
Post the transactions from the purchases day book
Post the transactions from the bank into the sales ledger and purchase ledger
Balance off the accounts - sales & purchase ledgers
Balance off all the ledger accounts
Enter bank transactions into the ledger accounts
Complete VAT, Sales, Sales Return, Purchases and Purchase Return Ledgers
Balance off all ledger accounts
Create a New Trial Balance
Adding up the Debtors and Creditors Ledger
Prepare a trial balance as at 31 March
|Section 2: Balance Sheet and VAT Reporting|
Prepare the Balance Sheet
Balance Sheet Terms
Write up the VAT account
Prepare the VAT return
|Section 3: Next Steps|
Download the suggested answer guide.
Next steps - what other courses may be of interest
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.