Bookkeeping

Bookkeeping is a function of accounting. It refers to the actual entry of transactions into the books of record for a business. This section of the website introduces bookkeeping and teaches proper entry methods related to the various economic activities in small business. There are a series of lessons separated into three groups.

The first group consists of fundamental lessons that introduce bookkeeping and explain the basic concept of debits and credits and how a chart of accounts works.

The second group of lessons go into the separate functions of regular business entries and explains how these are entered into the books of records. This includes entering bills, creating invoices, running a payroll, reconciling the bank account and creating some basic reports for management.

The final group of lessons are for more advanced subjects and include why general journal entries exists; how to reconcile more advanced accounts and how to enter purchases of fixed assets and corresponding long-term debt.

• Basic Bookkeeping – Lessons 1 – 28 cover the core fundamentals of types of accounts and their arrangement.
• Regular Activity – Lessons 29 – 70; these lessons explain daily activities of bookkeepers and the respective entries.
• Advanced Bookkeeping – Lessons 71 – 125 get into closing procedures, special accounts; rules and tax accounting.

Throughout each article are links to other articles on the site that support the lesson.

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INTRODUCTION AND BASIC UNDERSTANDING 

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REGULAR BUSINESS ACTIVITY

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     ADVANCED BOOKKEEPING

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