Generally, among students, bookkeeping is considered a dry subject. However, in bookkeeping for beginners website, we have simplified a few basic rules of bookkeeping that not only make it easy for learners to understand but also can use in future while working in the field of bookkeeping and accounts.
Bookkeeping refers to a system of recording the financial transactions on a daily basis in business. It is the art and science of recording business transactions in the books of accounts scientifically and systematically.
However, bookkeeping is the old method used over the centuries. It is still the only worldwide used method used by the bookkeeper and accountants in recording the financial transactions of businesses. Surprisingly, in this fast-paced and dynamic era bookkeeping has yet not been replaced by a more sophisticated method.
Beginners of bookkeeping must appreciate the art behind this method. It revolves around the double entry system. Each financial transaction has its two aspects, a Debit and a Credit, and dual entry records a financial transaction into books of accounts using the same system.
Bookkeeping is vital for the success of any business and is an essential part of business operations as it helps to keep track of all business financial transactions. Therefore, bookkeeping makes it possible to not only manage the business but to plan the growth too.
Often the terms Bookkeeping and Accountancy are used interchangeably. However, that is not true! In fact, accounting begins where bookkeeping ends. The difference has explained under Bookkeeping vs Accountancy.
Skills learned in bookkeeping courses:
There are many Bookkeeping and accounting courses with the different curriculum, but all include the following essential main topics.
- Definitions of and how to record assets, liabilities, expenses, capital, drawings and income
- Sale and Purchase Invoices and Credit Notes
- Techniques to estimate the value of the stock-in-hand (Inventory)
- The importance of accurately recording all financial transactions
- Preparing financial statements such as Statement of Profit and Loss and balance sheets
Future Training’s practical bookkeeping courses include the use of MS Excel spreadsheet, Payroll and practise working with the widely used Accounting software (Sage, Quickbooks, IRIS, TAS& VT).
Features of bookkeeping courses: All organisations must comply with the law which governs how accounts taxes paid and reported, so the accounts department is an essential and integral part of any organisation. All bookkeeping courses will emphasise the need to follow the standard bookkeeping procedures and accurately recording all financial transactions.
Bookkeeping courses by FC training: All size of businesses need to keep their accounts accurately and up to date; this usually achieved by employing skilled bookkeepers. In London, there are many training providers offering bookkeeping courses. Following feedback from organisations wishing to recruit bookkeepers, FC training has designed bookkeeping courses which explain bookkeeping basic principles and demonstrate how these apply in standard bookkeeping software such as Sage, Quickbooks, TAS& VT, IRIS allowing our students to develop both knowledge and practical experience. At our training centres, our students are supported by knowledgeable staff who can explain the principles and demonstrate the accounting software.