Professional Bookkeeping and Accounting 3: Double Entry

A comprehensive course for those that require Double Entry Bookkeeping and Accounting skills
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33 students enrolled
Instructed by Paula Guilfoyle Business / Finance
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  • Lectures 33
  • Length 1 hour
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
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    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 1/2016 English

Course Description

Professional Bookkeeping and Accounting 3 - Double Entry. A comprehensive course for those that need to record and account for transactions in a double entry system.

In This Course You Will Learn How To Record And Account For Sales, Purchase and Bank Transactions Using Double Entry Accounting.

Do you need to understand and record transactions using T accounts and double entry. Can you prepare a Payable or receivables control account? 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. You will find details of the learning objectives, the activities and how to contact the instructor.

In section 2, we will learn about the accounting equation and double entry. We will also prepare T-accounts. From the activities you will get the opportunity to

  • Prepare double entry transactions
  • Prepare and record transactions in T-accounts

In section 3 we will record transactions from the sales day book and the sales returns day book to the Receivables control account, the general ledger and the memorandum ledgers. From the activities you will get the opportunity to

  • Transfer sales and sales returns transactions from the day books to the general ledger, memorandum accounts and receivables control account

In section 4 of this course we will record transactions from the purchase and purchase returns prime books to the Payable's control accounts, the general ledger and the memorandum accounts. From the activities you will get the opportunity to

  • Transfer purchase and purchase returns transactions from the day books to the general ledger, memorandum accounts and payable's control account

In section 5 will will record transactions from the bank and cash. This will complete the receivables and payable's control account. After this we will look at closing the controls accounts.

  • Transfer the left and the right side of the cash books to the general ledgers
  • Close the control accounts

This course contains:

Activities are used through out this course and the answer from one activity leads into a later activity.

Workbook to download

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 3 - Double Entry!

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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?

  • Work books available in this course are Excel workbooks, you will therefore require Excel to carry out the activities

What am I going to get from this course?

  • Explain how the accounting equation relates to double entry
  • Work with T accounts
  • Record sales and purchase transactions to the general ledger and memorandum ledger
  • Record bank transactions from the daybooks to the general ledger and memorandum ledgers
  • Prepare a receivables control account by accounting for sales, sales returns, and payments from customers, settlements discounts and bad debts including transferring transactions from the books of prime entry
  • Prepare a payables control account by accounting for purchases; purchase returns, payments to suppliers, and settlements discounts including transferring transactions from the books of prime entry.

What is the target audience?

  • This course is meant for those that wish to progress with their bookkeeping skills
  • Before you begin this course you must have a working knowledge of the topics covered in Professional Bookkeeping and Accounting 1: Sales and Purchase Daybooks, and Professional Bookkeeping and Accounting 2: Bank and Petty Cash day books
  • This course is NOT for you if you are not interested in learning double entry bookkeeping skills

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: Introduction
02:26

This lesson will introduce you to the course and what you can expect to learn

Article

How you can contact me

Article

learn about the activities in this course

Section 2: Double Entry Accounting
03:08

In this lesson you will be introduced to the simple accounting equation and how this can be expanded to make the extended accounting equation

Article

In this activity you will get the opportunity to apply what you have learned about the accounting equation

04:33

Double entry, also know as the dual effect, is fundamental to becoming an accountant or bookkeeper. In this lesson we will explain double entry and look at some examples

Article

Its your turn now to prepare some double entry, give this activity a try

05:12

T-accounts and double entry go hand in hand. In this lesson we will look at preparing T accounts and recording double entry transactions to the same

Article

It is your turn now to practice preparing T-Accounts. You will find the solutions in the addational resources

03:44

The general ledger, also know as the nominal ledger contains T accounts for assets, liabilities, income, expenses and capital. In this lesson we will discuss the general ledger in more detail

Article

This is a gamified activity, a quiz on the accounting equations where you score will be placed on a leader board

Section 3: The Receivables Ledger
02:09

The receivables ledger contains the records for sales, sales returns, discount and payments. In this lesson we will discuss the receivables ledger in more detail

02:20

In this lesson we will look at recording the total, or gross amount from the sales and sales returns day books to the memorandum ledgers and receivables control account

Article

It is now your turn to post to the memoarandum ledger and control account

04:42

In this lesson we will look and the opposite side of the posting from the sales related daybooks that we covered in the previous lesson

Article

It is now your turn to post the opposite side of the double entry

03:49

The memorandum ledger is a single entry ledger, in this lesson we will look at posting payments from customers to the memorandum ledger

02:05

Bad debts are also know as irrecoverable debts and we will discuss this further in this lesson, including the treatment of writing off bad debts

Article

This is a gamified activity, a quiz on receivables where you score will be placed on a leader board

Section 4: The Payables Ledger
01:56

The payable ledger contains details of credit purchase transactions including discount and payments. In this lesson we will discuss the payables ledger

06:44

In this lesson we will look at posting transaction from the purchase daybooks to the general ledger and control accounts

Article

It is now your turn to record the purchase transactions to the general ledger, payables control account and memorandum ledger

Gamified Activity - Final Level - Level 3
Article
Section 5: Posting Bank transactions
01:06

a quick introduction to this section

12:52

In this lesson we will look at posting the left side of the bank daybook to the nominal ledger using T accounts

Article

In this lesson you will get the oppertunity to post the left side of the bank and cash book to the general ledgers

02:56

In this lesson we will look at posting the right side of the bank using T account

Article

Now it is your turn to post the right side of the bank

Activity - Record the petty cash
Article
05:59

In this lesson we will balance and close the control accounts, including calculating the balance carried down

Activity - Close the Control accounts
Article
Check you work
Article
01:34

Time to wrap up

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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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