Professional Bookkeeping & Accounting 2 - Bank Daybook

A comprehensive and Professional guide to Bookkeeping and Accounting for Bank Transactions
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56 students enrolled
Instructed by Paula Guilfoyle Business / Finance
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  • Lectures 36
  • Length 2 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 11/2015 English

Course Description

Professional Bookkeeping and Accounting 2 - a comprehensive course for those that need to record and account for Petty Cash and Bank transactions.

In This Course You Will Learn How To Record And Account For Petty Cash And Banking transactions. You Will Also Learn The Process Behind These Transactions and the Relevant Reconciliations.

Do you need to understand and record petty cash or banking transactions for your business? Are you considering a career in Bookkeeping or Accounting? Are you studying for Professional Accounting or Bookkeeping exams? THEN REGISTER NOW

Course Overview

Section 1 of this course is an introduction section. After the course introduction we will begin this course by introducing you to both the prime books of entry and cross totting as you will need a working understanding of these through out this course. You will also be presented with the case study that we will use in the activities in section 2 and 3 of this course.

In section 2 we will move into Petty Cash. We will walk through each step of the petty cash process from raising petty cash vouchers, entering data to the daybook and reconciling and replenishing the petty cash. Through out this section you will have a number of activities using the case study presented in section 1 and these activities will give you the opportunity to:

  • Raise petty cash vouchers
  • Enter petty cash transactions to the petty cash daybook
  • Close the daybook and calculate the balance carried down
  • Reconcile the petty cash
  • Replenish the petty cash

Section 3 of this course is about Banking Transactions. Through out this section you will have a number of activities using the case study presented in section 1 and these activities will give you the opportunity to:

  • Check remittance advice
  • Enter payments and receipts to the 3 column and analysis cash book
  • Close the cash book and calculate the balance carried down
  • Reconcile the bank

This course contains:

A case study that we will use through out this course

Workbooks to download

Activities to complete

Quiz

Certificate of Completion

******BONUS****** FREE Join a community of other learners where you can interact with each other and with the instructor.

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REGISTER NOW and get started with Professional Bookkeeping and Accounting 2 - Petty cash and Banking transactions!

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Your purchase is 100% RISK FREE with a 30 day money-back guarantee. If you don't learn anything new from this course, simply request a refund within your 30 day period for your money back, no questions asked.

What are the requirements?

  • The Case Study and Activities in this course are carried out in Excel. You will need to have Excel 2007 or higher and basic Excel knowledge, such as that covered in the Udemy course Basic Excel for Basic Bookkeeping.
  • No prior knowledge of Banking or Petty Cash transactions is required. It would be advantageous, but not essential, to have covered the topics in the Udemy course Introduction to Bookkeeping and Accounting and Professional Bookkeeping and Accounting 1 - Sales and Purchases

What am I going to get from this course?

  • Explain and Carry out the bookkeeping and accounting process for Petty cash, including preparing petty cash vouchers, replenishing petty cash either using an imprest or non-imprest , reconciling the cash, recording transaction in the Petty Cash Day book and closing off the day book.
  • Explain and Carry out the bookkeeping and accounting process for Bank transactions including preparing payments, reconciling receipts, recording transactions in the Cash Books and closing off the Cashbooks
  • Carry out bank reconciliations between the records you keep and a bank statement

What is the target audience?

  • You Should take this course if you are interested in a career in Bookkeeping and Accounting.
  • You Should take this course if you are currently studying for Professional Accounting or Bookkeeping exams and need help with Banking or Petty Cash transactions.
  • You Should take this course if you need to carry out bookkeeping for Banking or Petty cash transactions for your organisation.
  • You Should take this course if you are re-entering the workplace and you need a refresher course.
  • This course is NOT for you if you have no desire to learn about Banking and Petty Cash transactions from a Bookkeeping and Accounting perspective

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: Course Introduction
02:20

Welcome to Professional Bookkeeping and Accounting 2. A course focused on Bookkeeping and Accounting for Petty Cash and the Bank transactions. This lesson will introduce you to the course and the learning objectives, the case study the you will use through out this course and the activities that you will encounter.

How you can contact me
Article
Article

This course contains a number of files to download. In order to avoid confusion, this lesson will give clear guidlines as to where these resources are located

03:49

The prime books of entry as single entry records of business transactions and Cross casting or cross totting is a technique used by bookkeepers and accountants when closing the daybooks.

Article

Activities are a very important part of this course, including this activity

01:40

Through out this course, we will work from a case study. Please make sure that you read this lecture Professional Bookkeeping and Accounting 2 - Case study (which is also available for download in the addational resources) The activies that you encounter will build on the case study and the results from activites feed into following activities. it is important therefore that you complete each activity before you move on to the next activity.

Section 2: Petty Cash
01:31

Welome to section 2 Petty Cash. In this lesson we will introduce you to the Petty cash concept. We will then look at the learning goals for this section and the activities that you will carry out through out this section to practice what we have covered.

02:30
What exactly is Petty Cash? Where do you keep petty cash? Who looks after petty cash? What sort of expenditure is included in petty cash. Get all of these questions answered in this lesson, Explain and Identify a petty cash transaction. The in quiz at the end of this section you will need to idenfity if a transaction is a petty cash transaction or not, so place close attention.
02:58
In this lesson you will learn what an IOU is and when to use it. We will also examine a petty cash voucher and discover when to use this.
03:28
Sales tax is allowable on some items of petty cash and not on others. But do you know how to calculate sales tax? This is a quick lesson on the fundamental of calculating sales tax where will will walk through some sales tax computations, before you move on to the next lesson which is a quick activity for you to practice calcuating sales tax.
11:29

Now that we understand Sales tax we can prepare some petty cash vouchers to record petty cash spend, with and with out sales tax, from the petty cash tin. Once we have looked at some examples together, you will need to apply this knowledge for the activity that follows

Article

Mastering Bookkeeping and accounting requires practice. In this activity, you will practice preparing petty cash vouchers for our case study

05:55

In section 1 we looked at Daybooks and cross totting. In this lesson we will enter the petty cash transaction to the petty cash daybook. Entering petty cash transactions to the daybooks and closing the petty cash day books are tasks that every Professional Bookkeeper and Accountant should know and in the next lesson we will look at closing the petty cash day book

Article

Entering transactions to the petty cash day book is a task every professional accountant or bookkeeper should be able to do with ease. use this activity to practice what we have covered in the previous lesson, entering transactions to the petty cash day book

04:45

Once all of the enteries for the period have been entered into the petty cash daybook by the accountant or bookkeeper, the day book must be closed. In this lesson we will look at closing the petty cash daybook, cross totting the entries and calculating the balance carried forward.

Article

Now it is your turn to practice closing off the daybook and calculating the balance to be brought forward.

07:56

We have now entered transactions from the petty cash vouchers to the daybooks, but does the cash in the tin actually agree with what should be there? In this lesson we will look at counting the petty cash and agreeing the balance with the daybook.

Article

Now that you have closed the petty cash daybooks, it is your role to ensure that the balances agree.

04:04

So far we have looked at spending petty cash and accounting for the spend. But how does the cash actually get into the tin and how much should you put in? In this lesson we will look at 2 methods for replensihing petty cash, the Imprest and non imprest system

Article
The final stage of the petty cash process is to replenish the petty cash to the required level. Using the details in the extracts of the petty cash policy and the reconciled petty cash balance, it is your responsibility to calculate the amount of cash required.
03:03

It is common for the bookkeeper or accountant to look after petty cash so it is important that, when looking after this role, you understand what is expected and the policies in place. In this lesson we will look at both of these to wrap up on this section

Section 3: Bank
01:14

Welome to section 2 Bank Transactions. In this lesson we will introduce you to Banking transactions, we will then look at the learning goals for this section and the activities that you will carry out through out this section.

03:00

Banks offer a number of services, such as current accounts and overdrafts. In this lesson we will look as some of the services offered by banks and explain some banking termonology

04:41

There are a number of ways that you can make payments, they can be cash payment, transfers, cheques and credit/debit card payments. In this lesson we will cover the differences between these payment

02:13

When customer make a payment to you, they will send you a Remittance. An a Professional Bookkeeper or Accountant you need to know how to check a remittance and what to do if there are descripances

07:16

In section 1 we looked at Day books and we also looked at the petty cash day book in section 2. In this lesson we will look at the 3 column cash book we will record some transactions together before you move on to an activity where you will have to record bank transactions for the case study

04:41

In addation to the 3 column cash book, banking transactions are commonly recorded into an analysed cash book. As a bookkeeper or accountant, this is a task you must be comftorable completing, so we will record some transactions into the analysed cash book

Article

As with section 2, practicle application of what you have seen is essential to real understanding. In this activity, you will have a number of transactions to enter to the 3 column and analysis cash book

06:06

Now that we have looked at 2 types of cash books, we now need to cross tot and close off the cash books. We looked at cross totting in an earlier section, so you should already be familiar with this. Lets look at an example before you close of the cash books for the case study.

Article

As a professional bookkeeper or accountant, it might be your role to prepare the totals and the balance to be carried forward as part of closing the cash books. In this activity you will get the opportunity to close a cash book and calculate the balance to be carried forward.

01:37
There are many reasons that you need to complete a bank reconciliation, so in this lesson we will describe what a bank rec. is and why you need to complete a bank rec on a regular basis.
Bank Reconciliations
13:33
Article

It is now your turn to carry out a bank reconciliation

01:10

We have now reached the end of this course and I hope that you now feel like you have mastered Bookkeeping and Accounting for Petty Cash and Daily Banking Transactions

Section 4: Bonus
Bonus - Thank you
Article
00:50

Do you know you can add this certificate to your Linkedin Profile.

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Instructor Biography

Paula Guilfoyle, CPA Accountant, Online Educator & Life Long Learner

Paula is a Qualified CPA with over 15 years' experience in the fields of Accountancy, Business Management,Process improvement, Internal Audit, Group accountant, Operations management and Training. All across a broad range of industries and sectors. Paula has been Key Speaker at many Accounting Events where her talks on Excel are received very positively. Taken from her experiences in Accounting and business fields, Paula also has Udemy courses for those wishing to up skill, especially in the area of Spreadsheets, Bookkeeping and Accounting.

Now an E-learning Educator 5+ years, Paula also has a focus on E-learning and online teaching. Drawn from her online teaching experience,Paula has a number of courses available to online teachers to help bridge the skills gap for those that teach or wish to teach online.

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