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Bookkeeping foundations

From the first pound to the trial balance, then the records every business keeps: day books, the bank, VAT and control accounts.

Easy5 of 5 modules open13 rooms
Module 1

Double entry from zero

The rules every set of books is built on.

  1. 1What a business has and owes6 min, easy
  2. 2Debit and credit8 min, easy
  3. 3Buying and selling on credit8 min, easy
  4. 4Balancing an account8 min, easy
  5. 5The trial balance8 min, easy
Recap this moduleSix questions, starting with the ones you got wrong.
Module 2

Books of prime entry

Where every transaction is written down first: the day books, the cash book and petty cash.

  1. 6Day books8 min, easy
  2. 7The cash book and petty cash10 min, easy
Recap this moduleSix questions, starting with the ones you got wrong.
Module 3

Bank reconciliation

Matching the cash book to the bank statement, and explaining every difference.

  1. 8Why the two balances differ10 min, easy
  2. 9Reconcile a bank statement12 min, medium
Recap this moduleSix questions, starting with the ones you got wrong.
Module 4

VAT

Charging it, reclaiming it and working out what is owed to HMRC.

  1. Charging VAT10 min, easyPremium
  2. Posting VAT12 min, mediumPremium
Module 5

Control accounts

Keeping the total owed by customers in step with each customer's own account.

  1. The sales ledger control account10 min, mediumPremium
  2. Reconciling a control account10 min, mediumPremium