Basic Bookeeping

Course details

To provide learners with the opportunity to develop the knowledge, skills and competencies necessary to understand the concepts and terminology of bookkeeping and to be able to record and processes transaction in manual and computerised systems

Progression

• N / A

Specific Entry/Access and Exemptions Requirements

• There are no specific entry requirement for this programme

Certification

• Certificate in Basic Bookeeping

Assessment

• Examinations

Programme Content

• Explain the following bookkeeping principles and terms: debit. credit, debtors and creditors
• Set up appropriate debtors, creditors and nominal ledger accounts
• List current VAT rates
• Outline the purpose of VAT analysis
• Identify source documents used for writing up the books of prime entry including purchase invoices, credit notes, petty cash vouchers
• Outline 4 methods of payment used in business e.g direct debit
• Write up cheque payments using appropriate VAT analysis
• Write up cheques payments using appropriate analysis columns e.g cash, bank, VAT and creditors
• Operate a petty cash book on the imprest system with 4 analysis columns
• Post the entries in the books of prime entry to the appropriate accounts
• Balance personal and nominal ledger accounts
• Extract a trial balance at the end of a period
• Explain the following terms: income, expenditure, asset, liability and capital
• Extract the required VAT details from the record and complete a VAT 3G form for submission to the revenue commissioners
• Record/write up money received in relevant day book using appropri-ate analysis columns
• Set up a basic computerised excel accounts systems (optional)