Book-keeping - Module 2

Designed for:

Those who have completed Module 1 of Book-keeping and wish to progress their learning.  The skills learned will assist with seeking employment or self-development.
 
Pre-requisites:

Successful completion of the Book-keeping Module 1 (Ireland) course, together with a high degree of motivation to learn manual book-keeping. 
 
Objectives:

To teach manual book-keeping leading to the FETAC Level 5 Component Certificate in Book-keeping (Manual & Computerised), as well as introduce the basics of keeping accurate accounting records for those running a small business.

Course Content

• Lesson One – Including: Posting the opening balances at the start of a new trading year, using a Trial Balance to illustrate the accounting equation, posting brought forward balances, making postings from a 3 column Cash Book to the ledger accounts.
• Lesson Two – Including: Understanding the various methods of making and receiving payments, preparing a daily takings and cash for banking form, reconciling daily takings to a till roll report, completing a lodgement slip in order to bank money received, checking eligibility for cash discount.
• Lesson Three – Including: Updating and balancing the ledger accounts, reconciling the Debtors and Creditors Control accounts, using the Journal in order to process the book-keeping entries for contra transactions and bad debt, processing a returned cheque.
• Lesson Four – Including:  Preparing a cash reconciliation statement, the reasons why a bank reconciliation is performed, preparing a bank reconciliation statement, updating the Cash Book.
• Lesson Five – Including:  Knowing how to maintain a self-managed credit control system, the purpose of a monthly statement, preparing monthly statements to send to customers, the purpose of an aged debtor analysis.
• Lesson Six – Including:  Comparing a supplier statement to the related Purchase Ledger account, preparing a reconciliation statement, the action to take in respect of any discrepancies, identifying invoices falling due for payment, preparing a remittance advice and related payments.
• Lesson Seven – Including:  The purpose of payroll, the elements which make up gross pay, identifying typical statutory and voluntary deductions and employer oncosts, preparing the Journal entries to account for payroll, keeping a Wages/Salaries Control account and Wages/Salaries Expenses account, keeping PAYE/PRSI/Income Levy and Pension Creditor accounts.
• Lesson Eight – Including:  How the VAT system works, how the double entry system is used in order to account for VAT, Form VAT 3 and preparing a pro forma VAT return, balancing the VAT account, demonstrating the ability to process ledger transactions and prepare control accounts.

 
Benefits

•  Learn double-entry book-keeping in order to keep accurate accounting records.
• The flexibility and value of a self-study course designed to enable you to work at your own pace.
• A personalised workbook to use as a reference guide on completion of the course.
• The opportunity to gain the widely recognised Pitman Training Certificate and lead to FETAC certification.

 Course duration:          20-22 hours
 What next:                     Book-keeping- Module 3