- Physical/Online Training
Bookkeeping is the very basic and most important part of accounting. It is process of recording, classifying all the financial transaction in a systematic process using various accounting software, It is important function for all business as all company’s financial records and financial statements (profit and loss, balance sheet) are obtained from book keeping.
In this Course you will develop the essentials software skills (Sage, QuickBooks, Xero, VT) and you will start with concept of bookkeeping and VAT. You will go through the important HMRC rules and legislation and Making Tax Digital (MTD).
You will work with clients from different sectors like IT, Care, Wholesale, Online business and calculate the VAT returns. You will learn about different VAT Schemes depending upon nature and size of clients. You will be generating profit and loss, trial balance and balance sheet for the clients.
Course Modules
- Creating Suppliers: Supplier details, name, address, default accounts,
credit terms VAT Numbers - Analysing supplier invoices, credit notes and posting them on software
- Reconciling supplier account
- Carrying out Aged Creditors reports
- Edit Supplier details
- Creating Customers; Customer details, name, address, default account
- Entering customer invoices, customer refunds, receiving payments
from customers in bank - Reconciling customer invoices
- Editing Customers details
- Setting up chart of accounts
- Adding, editing and deleting Chart of Accounts
- Entering opening balance for supplier and customers
- Setting up bank accounts (Current bank account, Credit accounts ,Petty
cash account) - Entering the bank transactions (Supplier payments, Customers
payment, Expenses and Receipts) - Entering Petty Cash Transactions
- Reconciling Bank and Petty Cash Accounts
- Understanding different VAT Schemes
- In depth Discussion of Standard, Cash, Flat-rate and Retail Industry
VAT schemes - Understanding how VAT works, Input VAT, Output VAT
- Calculation of VAT to pay or reclaim from HMRC
- Making Tax Digital (MTD)
- VAT reclaims and Submission to HMRC
- Registering for VAT when reached the Threshold
- Determining appropriate VAT quarters
- Discussion of Tax matters on goods acquired and dispatched to EU
countries
Sectors Covered
- Retail Industry
- IT
- Wholesale Industries
- Care homes
- Online Business
- Construction Industries
- Service Sectors
Skills you will enhance
- Bookkeeping
- Sales Day Book
- Purchase Day Book
- Bank reconciliation
- Petty Cash
- VAT Calculation
Jobs you can apply
- Bookkeeper
- Accounts Payable
- Accounts Receivable
- Billing Staff
- VAT Administrator
- Credit Controller
Our Program Includes
CV Update
Interview Preparation
Placement Oppurtunites
Industry Reference
You will be working with our real client data and we will provide reference from our college as well as from our Accountancy Firm.