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Bookkeeping is an essential part of business, not just to keep track of financial activities for the business’ sake, but also to meet obligations from the ATO. It’s nothing ground-breaking to highlight the importance of bookkeeping, but lots of businesses might start operating without considering the necessity of bookkeeping.
If you’re a business owner who doesn’t have a background in accounting or bookkeeping, then you’ll want to learn at least the basics quickly – even if you intend to hire accounts staff, it’s great to understand the bookkeeping tasks that need to be completed.
EzyLearn has you covered with out new Bookkeeping Basics Training Course. Let’s break down how you’ll learn the foundational aspects of bookkeeping with this course:
What’s included in the Bookkeeping Basics Training Course?
This course consists of sixteen sections, that range from an introduction to bookkeeping terms all the way through to performing pay runs in different accounting software. Some sections are longer than others, and some with subsections, but all contain the vital information you need to understand the fundamentals of bookkeeping.
The main sections covered are:
- Accounting Terms
- Chart of Accounts
- Goods & Services Tax (GST)
- Tax Codes
- Cash Vs. Accrual Accounting Methods
- Introduction to Credit Control
- Bookkeeping Basics Guide
- Accounting software
- Chart of Accounts
- Invoicing and Accounts Receivable
- Purchases and Accounts Payable
- End of Month Bank Reconciliation
- Business Reports
- Payroll Introduction
Even if you have no knowledge of bookkeeping, not to worry! In the Bookkeeping Basics Training Course we start you off with an introduction to what bookkeeping is and the definitions of some key accounting terms, from “accrual accounting” to “year-end”.
You’ll also learn about relationships between these terms, such as how the Chart of Accounts, General Ledger, and Trial Balance relate to each other and how to use them in Xero, MYOB and QuickBooks Online.
Beginners Training on GST and Tax obligations
One of the more confusing, yet important parts of bookkeeping is tax obligations. Since reporting obligations and frequency depends on the business’ turnover, it’s essential to know whether you need to be registered for GST, and how this will impact your tax invoices.
Other reporting aspects you’ll learn include how the Cash and Accrual accounting Methods impact BAS, what income and expense types to report the ATO, Journal Entries, and debits and credits
You’ll cover other tax codes too, like FRE and N-T, to know how these apply to purchases.
Who owes you money?
Credit control and the cash conversion cycle are important fundamentals of business that you’ll learn how to understand and interpret. Accounts Payable and Accounts Receivable show you the money you owe and the money that is owed to you.
How quickly your business can receive payment from clients and then pay suppliers is an indication of efficacy, and you’ll learn how this relates to cashflow and overall business performance.
Having covered the fundamentals of bookkeeping, the Xero, MYOB & QuickBooks Bookkeeping Basics Training Course also includes an introduction to implementing these skills in your accounting software.
Whether you use Xero, MYOB AccountRight, MYOB Essentials, QuickBooks Online – or you if you want to become familiar with multiple to improve your chance as a jobseeker – you’ll find the content you need in this course.
You’ll cover key navigations to your Chart of Accounts, Purchases, and Sales areas, and some of the financial reports that your software can generate.
This also includes training on the data entry involved in Purchases and Accounts Payable and End of Month Bank Reconciliation, with specific information for each software program.
Payroll Training is included
You’ll also receive an introduction to payroll, specific to each software, and cover the fundamental task of creating employee cards and performing a pay run.
The Bookkeeping Basics Training Course is perfect for those looking to change careers to enter the accounting and bookkeeping industry, and provides you with the essential knowledge you need to then go on and further develop your skills and up-skill to more advanced bookkeeping skills if you want to.
Our courses and Complete Packages in Xero, MYOB AccountRight, Essentials, and QuickBooks will build on the foundation established in Bookkeeping Basics, so if you’re looking to develop confidence in general bookkeeping skills, then this course is for you.
How is it delivered?
EzyLearn courses are entirely online, so you can fit your study in around your schedule and learn on your own time.
We’ve been talking to our past students in our interview series, EzyLearn Worklife, and have found that lots of them never need to reach out to our support staff or a tutor, since the course modules are so easy to navigate and understand.
Bookkeeping Basics includes written content, diagrams, and video tutorials, so you can learn in a way that bests suits you. The video tutorials includes the step-by-step process on how to perform tasks within software, so you can follow along easily.
There’s also a downloadable PDF document that includes all the written content and diagrams from the modules, so you can easily refer to it as a resource throughout your course, or in future if you ever need a refresher.
Lastly, to ensure you understand the content, there is a knowledge review test at the end of the course. The multiple-choice questions cover all the content from throughout the modules, so you can see how much you remember and what you might want to review.
EzyLearn has over 25 years’ experience in creating courses and helping students. We refine our courses based on student feedback, and are always staying up to date with changes and upgrades so our courses reflect the latest information.
You can watch our video interviews with course graduates here, or read about some of their experiences in this blog. You can get a sense of just how EzyLearn has helped them achieve their goals and made their learning journey…well, ezy!
And if you want to have a chat about your goals and course options, then get in contact with us to see how we can help.