Certificate In Bookkeeping| Accountancy skill & UK market| Future Connect Training
The bookkeeping is an essential part of all organizations and "Keeping the books" to record all financial transactions and managing this information to make sure that the necessary taxes are paid in time, and the financial reports required by law are completed and submitted to the government. Any size of businesses must meet these requirements, as well as accountants and managers keep track of the organization’s transactions so they can effectively run the organization. I you want to boost your career as a professional bookkeeper you must have a Certificate in Bookkeeping from a well-known registered company.
This course focuses on record keeping while also laying the foundation for further study so that you can pursue a Finance Degree. This qualification is suited for individuals with an excellent ability to understand figures and mathematics, and those with interest in business, project coordinating and those looking to work in a corporate business environment.
This qualification covers areas such as double entry bookkeeping, financial statements, intermediate spreadsheets and software use.
This course delivers the skills and essential knowledge to manage books effectively. It includes manual double-entry bookkeeping, and associated documents and processes, up to Trial Balance standard.
Difference between accounting and bookkeeping
The vision of auditing is sufficient to hit fear into many people who want to start a small business. Up till now, with the right system in place, maintaining pure financial records doesn't have to be a trial. It only involves detailing business income and expenses from the beginning and keeping precise records.
As well as being an authorized requirement (you should keep your financial records), keep your accounting at the top will help you to monitor your cash flow.
All you need to run an essential set of accounts are:
- A cash book to record money incoming and departure the business; a sales ledger, detailing money established and amounts still allocated; a purchase ledger to track outgoings; and a salary record, which consist of details salary payments and National Insurance contributions.
- As a little business, you may decide that it is a superior use of assets to find a rightfully qualified bookkeeper or accountant to keep your records for you - particularly if you don't feel secure sufficient to deal with it yourself. A good bookkeeper or accountant can make sure you can save the exact records, stay on top of your business finances and free you up to get on with establishing and growing your business. They can also help you avoid potentially expensive mistakes!
- If you decide to do the record keeping yourself, you will need to: keep your cash purchase receipts and invoices for all business expenses like utility bills, bank and credit card statements; fill out paying-in books and cheque book stubs; sustain payroll records (if you employ people), and keep VAT records (if you're registered).
- You can prevent these 'books' as paper records or computer spreadsheets, but most businesses now favour to use simple Accounting Software to follow the path of income and expenses.
- If you decide to run physical accounts, you need sections for purchases paid and purchases unpaid. When you pay an invoice, basically transfer it from due to pay. You'll need to do the exact for sales paid and another for sales due.
- You should set up a devoted business bank account. Avoid using your account to accept payment or buy things for your business.
- Electronic bookkeeping systems
Essential accounting software is more reasonably priced than ever (budget £100-£180 inc VAT) and many deals come with free support. You could even set up a few sample pages in well-liked spreadsheet software, such as Microsoft Excel.
Devoted accounting packages are easy to use? Even for those with incomplete knowledge. Mistakes can be corrected easily (which is more complicated when you are not using automated systems), you get a snapshot of your cash flow at the click of a mouse, and it is simple to check what money you be indebted and are owed. Useful business financial reports and invoices can also be gained at the touch of a button. You can also view sales patterns and costs, which can help with forecasting and budgeting.
DIY or use an accountant?
Employing a full-time bookkeeper isn't feasible for many small firms. Sometimes such a role is collective with other duties such as office and HR Manager. Often a partner gets drafted in to take care of the books in return for a part-time salary. You might be able to have enough money a part-time bookkeeper or may consider outsourcing the job to your accountant or local bookkeeping service.
The no-cost choice, of course, is to do it yourself and maybe get an accountant to take care of the more complex material. Having to 'do your books' after hours or at weekends is a work-related danger for many small-business owners. It can be the last thing you need after a long, busy day - but it can't be avoided if your business is to stay alive and flourish
Qualifications and Recognition
After successful completing, students will be eligible to receive the Certificate in Bookkeeping.
What Will You Learn?
After completing the bookkeeping course, students will have an understanding of how to:
- Trace the effect of accrual and deferral transactions to financial statements.
- Apply accrual accounting concepts to transactions that span fiscal periods.
- Apply accounting concepts and the necessary tools of financial analysis in identifying and correcting errors.
- Reconcile bank accounts.
- Prepare payroll transactions, from paying wages to depositing and reporting taxes.
- Apply accounting concepts to depreciation transactions, including various methods of calculating depreciation for book and tax purposes.
- Value inventory, record costs, make entries and report inventory on financial statements.
- Help your company or client use necessary internal controls to prevent theft, embezzlement, or check and credit card fraud by employees, customers, or vendors.
Meeting needs of Competitive Job Market
In London, there are many training courses providers which allow a learner to become familiar with the techniques and tools for efficient record keeping. The employers are seeking to fill the vacancy for specific qualifications issued by specialist exam boards. Having a certificate in bookkeeping proves that you understand accounting principles.
Accountancy skills and UK's market
There is a massive demand for skilled bookkeepers in the UK, especially those with a certificate in bookkeeping.
Certificate in bookkeeping with Future Connect Training
FC Training offers a range of training courses, using both independently recognized exam boards such as AAT and from their bookkeeping courses designed and developed to meet the employer's requirements, based on the employer's feedback. These courses enable their learners to develop both an understanding of finance principles and a working knowledge and practical experience with widely used Accounting software (Sage, Quickbooks, IRIS, TAS & VT).
FC Training can help you achieve a certificate in bookkeeping course and help you progress your career in bookkeeping and accountancy.