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
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