Basic Bookkeeping

Course details

This short programme is designed for learners who are responsible for controlling the finances of a small business or who are responsible for the bookkeeping aspect of financial management in larger organisations.

The programme includes the following learning areas: source documents, the rules of double entry, subsidiary journals, the general ledger, bookkeeping for different inventory systems and bank and creditors’ reconciliations.

Learners have the option to write the ICB external examination and get a subject credit towards the National Certificate: Bookkeeping and, ultimately, the Diploma: Financial Accounting.

Career fields

Learners who complete this course will be able to pursue a career as a:

• Junior bookkeeper
• Accounting clerk
• Debtors or creditors clerk

ICB subject credit

• Learners have the option of registering with the ICB to complete and achieve credits towards the ICB subject in Bookkeeping to Trial Balance which is the 1st of 4 modules making up the National Certificate: Bookkeeping (NQF Level 3, SAQA ID 58375). There is an additional cost associated with this which is payable in full before the course starting date. Learners are required to complete the ICB POE for this subject and write the external ICB final examination.

Programme outline
Administer credit purchase transactions

• Identify and complete the appropriate source documents
• Record Credit Purchase Transactions in the appropriate journals
• Record other credit related transactions in the General Journal
• Maintain creditors’ accounts

Administer credit sales transactions

• Identify and complete the appropriate source documents
• Record Credit Sales Transactions in the appropriate journals
• Maintain debtors’ accounts

Administer income and receipts

• Identify and complete the appropriate source and supporting documents
• Record routine income transactions in the relevant journals or cash book
• Record non-routine related income transactions in the relevant journals or cash book
• Receive and record receipts

Administer payments and expenses

• Identify and complete the appropriate source and supporting documents
• Record routine expense transactions in the relevant journals or cash book
• Record non-routine related expense transactions in the relevant journals or cash book
• Receive and record payments

Record Income and Receipts
Calculate and record VAT transactions

• Define and identify VAT concepts
• Calculate VAT on basic transactions
• Record VAT on basic transactions
• Complete relevant documentation for the Receiver of Revenue

Compile reconciliation statements

• Compare receipts and payments to the bank statement
• Compile the bank reconciliation statement
• Compile a basic Debtors and Creditors Reconciliation Statement
• Compile a basic general ledger reconciliation statement

Demonstrate basic accounting concepts

• The different forms of business ownership
• Explain the accounting cycle
• Explain the functioning of the double entry system
• Archiving and safe-keeping of source and supporting documents

Prepare general ledger accounts and initial trial balance

• Prepare ledger accounts
• Prepare ledger balances and control accounts
• Draft initial trial balance

Understand the petty cash system

• Disburse money for Petty Cash transactions
• Recording Petty Cash transactions
• Restore imprest amount
• Control procedures for Petty Cash