Service Description

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.

Contact Details

• 121 Brooker Road, Waltham Abbey, UK