This course can be applied toward a program:
- Bookkeeping for Small Business (required)
Online: Cohort-based
Ready to expand your bookkeeping knowledge and skills? This course builds on the basics of bookkeeping procedures introduced in Bookkeeping Fundamentals 1 and continues to cover recording for payroll and taxes. You learn how to verify bookkeeping processes and address errors, and reconcile your bank. You also learn how to adjust and close books, as well as produce and interpret detailed financial statements.
NOTE: This is an online cohort-based course. You can complete the course at a time and place of your choosing. However, be mindful of weekly deadlines and expect to commit 4-5 hours a week. There will be an optional one-hour live Q&A session with an instructor each week.
Learning Outcomes
At the end of this course, you will be able to:
- Record payroll and sales tax entries
- Identify and address errors in the books
- Reconcile bank accounts, credit cards, and other accounts
- Make adjustments in preparation for month-end and year-end, such as inventory, bad debts and prepaid expenses
- Produce and interpret detailed financial statements, including the Balance Sheet and the Income Statement
Modules
Module 1: Exploring Payroll Basics
Module 2: Exploring Sales Tax Basics
Module 3: Identifying and Addressing Errors in the Books
Module 4: Making Accounting Adjustments
Module 5: Preparing for Year-end and Producing Financial Reports
Evaluation Method
Pass/Fail
Prerequisites
- Bookkeeping Fundamentals 1
- You need basic MS Excel skills for completing the assignments. These include opening and saving workbooks; entering and converting numerical and text data; selecting, copying, and pasting data; freezing rows and columns; splitting screen and moving across worksheets.
Required Materials
- Learner will need a computer with microphone and webcam to attend Q&A sessions.
- High-speed internet (at least 25 Mbps download speed) – Find out your internet connectivity speed.
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