5 Days Bookkeeping Training

Service Description

Our advisors provide individualised services to help alleviate your financial uncertainty and stress. With many years of experience, our experts have the knowledge and expertise to handle any situation. An outline for a comprehensive 5-day bookkeeping training program: Day 1: Introduction to Bookkeeping Basics • Welcome and Program Overview. • Importance of Bookkeeping for Businesses. • Key Terminology and Concepts in Bookkeeping. • Legal and Compliance Requirements. • Types of Businesses and Their Accounting Needs. • Principles of Double-Entry Bookkeeping. • Chart of Accounts and Account Classification. • Setting Up a Manual or Digital Ledger. Day 2: Recording Financial Transactions • Understanding Debits and Credits. • Journal Entries and Posting to Ledgers. • Cash vs. Accrual Accounting Methods. • Bank Reconciliation and Petty Cash Management. • Handling Sales Transactions. • Recording Purchases and Expenses. • Managing Inventory. • Practice: Recording Various Financial Transactions. Day 3: Financial Statements and Reports • Income Statement (Profit and Loss Statement) Creation. • Balance Sheet Preparation. • Cash Flow Statement Overview. • Ratio Analysis for Financial Health. • Generating Financial Reports Using Software. • Understanding Financial Statements for Decision-Making. • Interpreting Key Financial Ratios. • Practice: Preparing Financial Statements. Day 4: Payroll and Taxes • Payroll Processing and Deductions. • Employee Taxation and National Insurance Contributions (NICs). • Keeping Payroll Records and Compliance. • VAT (Value Added Tax) Basics. • Self-Assessment for Sole Traders. • Corporation Tax for Companies. • Reporting and Submitting Taxes to HMRC. • Practice: Handling Payroll and Taxes. Day 5: Advanced Topics and Practical Applications • Depreciation and Amortization. • Accruals and Prepayments. • Bad Debt and Provision for Bad Debt. • Handling Foreign Currency Transactions. • Budgeting and Forecasting. • Using Accounting Software (e.g., QuickBooks, Xero). • Year-End Closing Procedures. • Final Assessment and Certification. Throughout the training program, provide practical exercises, case studies, and real-world examples to reinforce learning. Encourage active participation and offer support for hands-on practice with accounting software. Make sure to adapt the content to the specific needs and prior knowledge of your audience, and allow time for questions and discussions.