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Effective Bookkeeping and Payroll by Udemy
Effective Bookkeeping and Payroll
Course Highlights
- Learn about the generally accepted accounting principles (GAAP)
- Learn and implement internal controls
- Maintain subsidiary ledgers and special journals
- Reconcile accounts
- Correct wrong amounts and wrong accounts by reverse entries
- Perform sales tax calculations
- Setup a yearly budgeting plan
- Understand accounting for merchandising
- Perform accounting for cash
- Manage payroll system
Skills you will learn!
Curriculum
2 Topics
Course Introduction
Instructor Introduction
16 Topics
Principles
Principles (cont.)
Introduction - GAAP (Part 1)
Introduction - GAAP (Part 2)
Introduction - GAAP (Part 3)
Transactions - The Accounting Equation
Transactions - Debit and Credit Rules (Part 1)
Transactions - Debit and Credit Rules (Part 2)
Transactions - Analysis (Part 1)
Transactions - Analysis (Part 2)
Transactions - Analysis (Part 3)
Transactions - Analysis (Part 4)
Demo - Full Disclosure Principle
Demo - Journal Process Practice
Chapter 01 Review
Review Questions
21 Topics
Overview of Internal Controls
The Need for Internal Controls
Overview of Internal Control
Principles of Internal Control
Principles of Internal Control (Part 1)
Principles of Internal Control (Part 2)
Principles of Internal Control (Part 3)
Principles of Internal Control (Part 4)
Principles of Internal Control (Part 5)
Control Concepts
Overview of Internal Control (Cont.)
Examples of Controls Across the Organization
Overview of Sarbanes Oxley Sections 302 and 404
Implications of SOX
Control Concepts (Part 1)
Control Concepts (Part 2)
Audit Process and Conduct
Internal Controls - Bottom Line
Demo - Internal Control Reporting
Chapter 02 Review
Review Questions
46 Topics
Subsidiary Ledgers and Special Journals
Subsidiary Ledgers
Subsidiary Ledger
Subsidiary Ledgers (Cont.)
Accounts Receivable - Aging of Subledger
Using Special Journals
Special Journals - Sales Journal
Special Journals - Posting Sales Journal (Part 1)
Special Journals - Posting Sales Journal (Part 2)
Special Journals - Posting Sales Journal (Part 3)
Special Journals - Posting Sales Journal (Part 4)
Special Journals - Posting Sales Journal (Part 5)
Special Journals - Posting Sales Journal (Part 6)
Special Journals - Control Accounts (Part 1)
Special Journals - Control Accounts (Part 2)
Special Journals - Control Accounts (Part 3)
Special Journals - Control Accounts (Part 4)
Special Journals - Control Accounts (Part 5)
Special Journals - Cash Receipts (Part 1)
Special Journals - Cash Receipts (Part 2)
Special Journals - Cash Receipts (Part 3)
Special Journals - Cash Receipts (Part 4)
Special Journals - Cash Receipts (Part 5)
Special Journals - Cash Receipts (Part 6)
Special Journals - Cash Receipts (Part 7)
Special Journals - Cash Receipts (Part 8)
Special Journals - Cash Receipts (Part 9)
Special Journals - Cash Receipts (Part 10)
Special Journals - Posting Cash Receipts (Part 1)
Special Journals - Posting Cash Receipts (Part 2)
Special Journals - Posting Cash Receipts (Part 3)
Special Journals - Cash vs. Credit Card
Special Journals - Purchases (Part 1)
Special Journals - Purchases (Part 2)
Special Journals - Purchases (Part 3)
Special Journals - Purchases (Part 4)
Special Journals - Purchases (Part 5)
Special Journals - Purchases (Part 6)
Special Journals - Purchases (Part 7)
Special Journals - Purchases (Part 8)
Special Journals - Purchases (Part 9)
Special Journals - Cash Payments
Special Journals Summary
Demo - Cash Receipts Journal
Chapter 03 Review
Review Questions
21 Topics
Reconciliations
Purpose
Accounts To Be Reconciled
Ownership and Accountability For Reconciliations
A Reconciliation is a Critical Internal Control
What is a Reconciliation
Reconciliation
“Reconciling Items” and Unreconciled Differences
Bank Reconciliation Example
Inventory Reconciliation Example
Who Should Perform the Reconciliation?
Exercise - Accounts Receivable Reconciliation (Part 1)
Exercise - Accounts Receivable Reconciliation (Part 2)
Who Can Review a Reconciliation?
A Roll -forward Analysis
Analytical Roll -forward
Analytical Roll -forward of a Trade A/R Account
Analytical Roll -forward of Cash
Other Verifications of Account Balances
Chapter 04 Review
Review Questions
14 Topics
Correcting Entries
Correcting Entries (cont.)
Corrections - The Wrong Amount (Part 1)
Corrections - The Wrong Amount (Part 2)
Corrections - The Wrong Amount (Part 3)
Corrections - The Wrong Amount (Part 4)
Corrections - The Wrong Amount (Part 5)
Corrections - The Wrong Amount (Part 6)
Corrections - The Wrong Amount (Part 7)
Corrections - The Wrong Amount (Part 8)
Corrections - The Wrong Amount (Part 9)
Corrections - Reversing Entries
Chapter 05 Review
Review Questions
12 Topics
Sales Tax
Sales Tax (cont.)
Sales Tax - Calculations
Sales Tax - Recording Transactions
Sales Tax - Pay Collected Taxes
Sales Tax - Paying Collected Taxes
Sales Tax Rules and Filing
Sales Tax Rates
Sales Tax Rules and Filing
Audits and Out of State Taxes
Chapter 06 Review
Review Questions
14 Topics
Budgeting
All Businesses Must Have a Strategic Plan
Yearly Target Setting (Budgeting)
Defining Objectives Part1
Defining Objectives Part2
Budgeting Defined
Budgeting for Smaller Companies
Types of Budgets
Types of Budgets (cont.)
Budgeting Development and Assumptions
Bookkeeper Role in Budgeting
Example Budget Spreadsheet
Chapter 07 Review
Review Questions
32 Topics
Accounting for Merchandising
Merchandising Income Statement
Manufacturing Income Statement
Merchandising Income Statement (Cont.)
Merchandising Revenue - Credits
Credit Notes
Credit Notes (cont.)
Merchandising Revenue - Credit Notes
Credit Notes
Sales Discounts
Calculating Sales Discounts
Recording Sales Discounts
Sales Discounts - Customer Account
Net Sales On the Income Statement
Purchasing Merchandise
Periodic Inventory System
Purchase Discounts
Discounts - Purchase Discounts
Discounts - Purchase Discounts (Cont.)
Freight -in
End of Period Income Statement
Net Sales On the Income Statement (Cont.)
Determine Cost of Goods On Hand
Compute COGS for Income Statement
Income Statement
Perpetual Inventory System
Perpetual Inventory System (cont.)
Discounts - Purchase Discounts (Cont.)
Cash on Delivery (COD)
Demo - Merchandising Income Statement
Chapter 08 Review
Review Questions
30 Topics
Accounting for Cash
Defining Petty Cash
Trend in Petty Cash
Accounting for Petty Cash – Establishing
Accounting for Petty Cash - Cash Sheet
Accounting for Petty Cash - Cash Sheet (cont.)
Accounting For Petty Cash - Entries
Accounting For Petty Cash - Entries (cont.)
Accounting - Petty Cash - Reimbursing
Petty Cash Entry
Accounting for Cash Over or Short (Part 1)
Accounting For Cash Over or Short (Part 2)
Accounting For Cash Over or Short (Part 3)
Accounting For Cash Over or Short (Part 4)
Accounting - Cash Over or Short
Good Cash Control in a Retail Business
Accounting - Bank Statements Part1
Accounting - Bank Statements Part2
Bank Statements
Bank Statements (cont.)
Accounting - Bank Errors
Accounting - Cash Book Errors
Bank Reconciliation Process
Bank Account Reconciliation (Part 1)
Bank Account Reconciliation (Part 2)
Bank Account Reconciliation (Part 3)
Accounting - Bank Account Reconciling
Demo - Bank Reconciliation
Chapter 09 Review
Review Questions
37 Topics
Payroll
The Payroll Process
Payroll Process - Gross Pay (Part 1)
Payroll Process - Gross Pay (Part 2)
Payroll Process - Gross Pay (Part 3)
Payroll Process - Gross Pay (Part 4)
Payroll Process - Gross Pay (Part 5)
Payroll Process - Gross Pay (Part 6)
Payroll Process - Deductions (Cont.)
Payroll Process - Taxes
Payroll Process - Taxes (cont.)
Payroll Process - Deduction Tables
Payroll Process - Deductions (Part 1)
Payroll Process - Taxes (cont.)
State Taxes
Payroll Process - Deductions (Part 2)
Payroll Process - Deductions (Part 3)
Payroll Process - Voluntary Deductions
Payroll Process - Net Pay
Payroll Process - Recording (Part 1)
Payroll Process - Earnings Record
Payroll Process - Payroll Record (Part 1)
Payroll Process - Payroll Record (Part 2)
Payroll Process - Payroll Records
Payroll Process - Recording (Part 2)
Payroll Process - Recording Net Payroll
Payroll Process - Employer Expenses
Payroll Process - Recording (Part 3)
Payroll Process - Making Payments
Payroll Process - Vacation and Sick Pay
Payroll Process - Accruals
Payroll Process - Internal Controls
Payroll Process - Internal Controls (cont.)
Demo - Payroll Calculations and Entries
Demo - Paycheck
Chapter 10 Review
Review Questions
22 Topics
Partnerships and Corporations
Partnership - The Partnership
Partnership - Partnership Accounting
Partnership - The Drawing Account
Admitting a New Partner
Entry to Admit New Partner
Death of a Partner
Partner Withdrawal - Example 1
Partner Withdrawal - Example 2
Corporations
Corporations - Shareholder Value
Corporations - Share Ownership
Sale of Common Stock
Preferred Stock
Preferred Stock - Sale of Shares
Preferred Stock - Sale of Shares (cont.)
Corporations - Authorized versus Issued
Corporations - Dividends
Corporations - Dividends (cont.)
Shareholders Sale of Stock
Chapter 11 Review
Review Questions
17 Topics
Accounts Receivable and Bad Debts
Accounts Receivable - Aging (Part 1)
Accounts Receivable - Aging (Part 2)
Accounts Receivable - Aging (Part 3)
Accounts Receivable - Aging (Part 4)
Accounts Receivable - Accounts
Accounts Receivable - Aging (Part 5)
Accounts Receivable - The Balance Sheet
Bad Debts - Writing Off
Bad Debts - Recovering
Bad Debts - Small Business
Sale of Receivables
Sale of Receivables - Entry
Accounts Receivable Turnover
Demo - Accounts Receivable Entries
Chapter 12 Review
Review Questions
8 Topics
Interim Profit or Loss
Interim - Interim Statement
Interim - Interim Statement (cont.)
Interim - Preparing Interim Statement (Part 1)
Interim - Preparing Interim Statement (Part 2)
Interim - Preparing Interim Statement (Part 3)
Chapter 13 Review
Review Questions
15 Topics
Year End - Preparing to Close the Books
Year End - Preparing to Close the Books (cont.)
Year End - Inventory
Year End - Adjusting Entries
Year End - Adjusting Entries (cont.)
Year End - Adjusting Entries Types
Inventory Obsolescence
Inventory Obsolescence (cont.)
Inventory Reserves – Entries
Inventory Write Offs – Entries
Year End - The Worksheet
The Spreadsheet
The Spreadsheet (cont.)
Chapter 14 Review
Review Questions
17 Topics
Year End - Closing the Books
Year End - Closing the Books (cont.)
Year End - Closing Journal Entries (Part 1)
Year End - Closing Journal Entries (Part 2)
Year End - Closing Journal Entries (Part 3)
Year End - Closing Journal Entries (Part 4)
Year End - Closing Journal Entries (Part 5)
Year End - Closing Journal Entries (Part 6)
Year End - Closing Journal Entries (Part 7)
Year End - Post Closing Trial Balance
Year End - Financial Statements
Year End - Income Statement
Year End - Balance Sheet
Accounting Information
Demo - Real World Financials
Chapter 15 Review
Review Questions
21 Topics
Cash Flow
What is Cash Flow?
Categories of Cash Flow
Cash From Operations
Why We Manage Cash Flow
Cash Flow - The Indirect Method (Part 1)
Cash Flow - The Indirect Method (Part 2)
Cash Flow - The Indirect Method (Part 3)
Cash Flow - The Indirect Method (Part 4)
The Direct Method
Maximizing Cash Flow
Cash Cycle
Revenue and Receivables
Expenses and Payables
Inventory
Capital / Investment
Quick Ratio
Cash Flow Adequacy Ratio
Chapter 16 Review
Review Questions
Course Closure
Effective Bookkeeping and Payroll
Related Bookkeeping Courses
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