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Book-Keeping and Accounts Level 1

15th January 2020
09:30 - 16:00
St Helens Chamber
Description

This course provides an introduction to book-keeping practices and will teach you all you need to know about maintaining accurate records; including how to complete financial documents, record cash and credit transactions, understand petty cash systems and much more.

 

Assessment method:

Candidates will be required to complete one externally set and marked test. This will consist of a number of practical tasks. The duration of this is 1 hour and 30 minutes.

 

The qualification:

This qualification is aimed at adults who want to develop skills and knowledge required for working in the accounting sector and will cover:

 

Completing financial documents

  • State the purpose and identify the content of financial documents
  • Calculate sales tax, trade discount, settlement (cash) discount, price extension on invoices and credit notes
  • Complete financial documents
  • Check the accuracy of financial documents

 

Recording cash and credit transactions

  • Enter invoices and credit notes into appropriate day books
  • Transfer the totals of the day books to the respective ledger accounts
  • Post individual transactions from the day boo books to personal ledger accounts
  • Record cash books transactions and credit transactions using double-entry book-keeping

 

Preparing Bank Reconciliation Statements

  • Update a cash book (Bank balance using details from a bank statement)
  • Reconcile the closing bank balance
  • Prepare a bank reconciliation statement using appropriate information

 

Understanding petty cash

  • Enter the opening balance in the petty cash book
  • Analyse petty cash vouchers to appropriate analysis columns
  • Balance and cross tally the petty cash book totals and analysis columns
  • Transfer totals to ledger accounts as appropriate
  • Restore the imprest

 

Ledger accounts

  • Balance ledger accounts
  • Bring down account balances to the following accounting period
  • Extract the Trial Balance from the ledger and cash book, including the cash and bank balances in the cash book.#

On successful completion of the course learners will achieve the City & Guilds Level 1 Award in Book-Keeping and Accounts.

For further information about this course contact Starting Point on 01744 698800 or email info@thestartingpoint.org.

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