Bookkeeping Essentials

About this course

Curriculum

1. 01

   Lesson 1: Introduction to Bookkeeping and the Accounting Cycle

   Learn the purpose of bookkeeping, how financial transactions move through the accounting cycle, and why accurate records are essential for managing a business, preparing financial statements, and supporting tax preparation.

   10m
2. 02

   Lesson 2: Understanding Accounts, Debits, and Credits

   Learn how accounts are organized in bookkeeping, how debits and credits affect different account types, and how double-entry bookkeeping keeps the accounting equation balanced.

   10m
3. 03

   Lesson 3: Building and Using a Chart of Accounts

   Learn how a chart of accounts organizes a business’s financial activity, how account numbers and categories are structured, and how to build a practical chart of accounts that supports accurate bookkeeping and useful financial reporting.

   5m
4. 04

   Lesson 4: Recording Revenue and Customer Payments

   Learn how to record business revenue, customer invoices, cash sales, customer payments, deposits, and accounts receivable while keeping income records accurate and avoiding common bookkeeping errors.

   5m
5. 05

   Lesson 5: Recording Expenses and Vendor Payments

   Learn how to record business expenses, vendor bills, cash purchases, credit card charges, reimbursements, and vendor payments while maintaining accurate expense classifications and accounts payable records.

   5m
6. 06

   Lesson 6: Accounts Receivable and Accounts Payable

   Learn how to manage Accounts Receivable and Accounts Payable, track customer balances and vendor obligations, apply payments and credits, review aging reports, and maintain accurate records of money owed to and by the business.

   5m
7. 07

   Lesson 7: Bank and Credit Card Transactions

   Learn how to record and classify bank and credit card transactions, distinguish purchases from payments and transfers, use bank feeds correctly, and avoid duplicate entries that can distort financial reports.

   5m
8. 08

   Lesson 8: Bank Reconciliations and Finding Errors

   Learn how to reconcile bank and credit card accounts, compare bookkeeping records to financial statements, identify missing or duplicate transactions, investigate differences, and correct common reconciliation errors.

   5m
9. 09

   Lesson 9: Correcting Entries and Bookkeeping Adjustments

   Learn how to identify and correct bookkeeping errors, make adjusting and reclassification entries, handle accruals and prepayments, and document corrections so financial records remain accurate and reliable.

   5m
10. 10

    Lesson 10: Understanding the Profit and Loss Statement

    Learn how to read and interpret a Profit and Loss Statement, understand revenue, cost of goods sold, gross profit, operating expenses, and net income, and use the report to evaluate business performance.

    5m
11. 11

    Lesson 11: Understanding the Balance Sheet

    Learn how to read and interpret a Balance Sheet, understand assets, liabilities, and owner’s equity, identify common account balances, and use the report to evaluate a business’s financial position.

    5m
12. 12

    Lesson 12: Month-End Bookkeeping and Preparing Records for Tax Time

    Learn how to complete a reliable month-end bookkeeping close, review key accounts and financial reports, organize supporting records, and prepare accurate books for year-end reporting and tax preparation.

    5m