This presentation contains brief, easy to understand lessons for anyone who wants to know how to do the bookkeeping for a small business. The concepts are also relevant to computerized accounting systems such as Quickbooks® which assume that you have a basic understanding of bookkeeping.
Bookmark this page so you can return to it often, as it is not recommended to go through this whole tutorial in one sitting.
Overview of the bookkeeping system:
Double Entry
Assets & Liabilities
Debits & Credits
Example of Double Entry with Cash Transaction:
Cash Transactions
Cash Transaction Example
How to Solve the Example
How to Solve the Example, Continued...
Double-Entry & Balancing
Books of Entry:
Flow Chart of Books
Subsidiary Ledgers and/or Registers
Cash Register
Example of Receipts Register
Petty Cash Register
Petty Cash Example
Cash Receipts Register
Receivables Ledger
Payables Ledger
Daily Purchase Register
The Journal
General Ledger
Accrual Method
Credit Transactions
Control Accounts
Accruals and Prepayments
Accruals
Prepayments
Income
Fixed Assets
Fixed Assets
Fixed Asset Accounts
Fixed Asset Disposal
Period-End Procedures
Period-End Procedures
Prepayments & Accruals
Fixed Asset Depreciation
Closing off all the accounts
Closing off continued...
The Trial Balance
Reconciliations
Bank Reconciliation
Receivables & Payables Reconciliations
Other Entries
Other Entries
Sales Tax
Provision for Bad Debts
Provision Example Explained
Bad Debts Written Off
Entities
Sole Proprietors and Partnerships
Corporations & Limited Companies
Congratulations!