FastTrack Bookkeeping

FastTrack Bookkeeping is a guide for newcomers to bookkeeping. While it will apply to any software package for bookkeeping, the examples in this guide have been based on Express Accounts - a software package that can be downloaded from www.nchsoftware.com.
 

Introduction. Bookkeeping – what is it all about ?

    • Keeping Track of Transactions
    • Some Basic Definitions
    • Bookkeeping conventions

Types of Accounts

    • Assets
    • Liabilities
    • Income
    • Expenses
    • Equity
    • Chart of Accounts

Tracking Transactions

    • Debit and credit entries
    • Asset Transfers
    • Asset/Liability transfers
    • Income Transactions
    • Expense Transactions
    • Correction Transactions
    • Simple transactions
    • Compound Transactions

Reports

    • Income Statement
    • Balance Sheet
    • Reconciliation Reports

Grouping Journal Entries – books of first entry.

    • Till ( cash Income)
    • Check Book
    • Invoice Books
    • Receipt Books
    • Others as Required

Sales Tax

    • Three Steps
    • Different Countries Different types.

Depreciation