Bookkeeping - Module 2

About this course

If you would like to work as a bookkeeper, accounts assistant or need to keep accounting records in your own business this course, along with the other modules, will teach you everything you need to know to be confident in your role.

This course is the second module designed to further your bookkeeping level 2 studies using the double entry system so you can keep accurate bookkeeping records. This course will guide you through bank reconciliation, trial balances, creditors and debtors, payroll and VAT and much more and, unlike other bookkeeping courses, this one puts the renowned Pitman Training name on your CV as proof of your skills.

There are eight lessons within the Bookkeeping Level 2 – Module 2 course. 

Lesson One - Includes: posting the opening balances at the start of a new trading year, using a trial balance to illustrate the accounting equation, making postings to the ledger accounts, being familiar with a 3 column cash book that includes contra columns, making postings from a the cash book to the ledger accounts.

Lesson Two - Includes: understanding the various methods of making and receiving payments, reconciling takings to the till roll printout, preparing a daily takings and cash for banking form, completing a paying in (or deposit) slip, checking eligibility for cash (settlement) discount.

Lesson Three - Includes: using the day books to update the ledger accounts, balancing the ledger accounts, reconciling the debtors control and creditors control accounts, processing the bookkeeping entries for contra transactions and bad debt, making postings from the cash book to include a returned (dishonoured) cheque.

Lesson Four - Includes: preparing a cash reconciliation statement, reasons why a bank reconciliation is performed, stages when preparing a bank reconciliation statement, updating and rebalancing the cash book.

Lesson Five – Includes: maintaining a self-managed credit control system, purpose of a monthly statement, preparing monthly statements to send to customers, purpose of an aged debtor analysis.

Lesson Six – Includes: comparing a supplier statement to the related purchase ledger account, preparing a reconciliation statement, action to take in respect of any discrepancies, identifying invoices falling due for payment, preparing a remittance advice and cheque, BACS payments list.

Lesson Seven – Includes: purpose of the payroll, gross pay and net pay, elements which make up gross pay, identifying statutory and voluntary deductions and employer on costs, preparing journal entries in order to account for payroll, keeping a wages/salaries control account and wages/salaries expenses account, keeping PAYE/NIC and pension creditor accounts.

Lesson Eight – Includes: different VAT schemes, how the double entry system is used in order to account for VAT, Form VAT 100, preparing a pro forma VAT return, balancing the VAT account, demonstrate the ability to process ledger transactions and prepare control accounts.