Introduction:
This advanced course on “Office Accounting and Bookkeeping” provides participants with the knowledge and skills necessary to manage office finances and bookkeeping tasks. The course covers core accounting principles, managing financial transactions, and using accounting software to ensure the accuracy and integrity of financial records.
Course Objectives:
- To introduce the principles of accounting and bookkeeping for office administration.
- To develop skills in managing accounts payable, accounts receivable, and payroll.
- To gain practical experience with accounting software and financial reporting.
- To ensure compliance with financial regulations and standards.
- To improve the accuracy and efficiency of financial record-keeping.
Who Should Attend:
This course is ideal for:
- Administrative professionals and office managers responsible for financial tasks.
- Secretaries and assistants tasked with maintaining office accounts.
- Individuals looking to develop a foundation in bookkeeping and accounting.
- Professionals interested in improving their office finance management skills.
Day 1: Introduction to Accounting and Bookkeeping
- Basic Accounting Concepts
- Introduction to assets, liabilities, equity, revenue, and expenses.
- The accounting equation and its importance in bookkeeping.
- Understanding Financial Transactions
- Recording financial transactions: debits and credits.
- Overview of the accounting cycle.
- Setting Up Accounts and Ledgers
- How to create and maintain general ledgers and subsidiary ledgers.
Day 2: Managing Accounts Payable and Receivable
- Accounts Payable (AP) Processes
- Recording and tracking expenses and payments.
- Managing vendor relationships and paying invoices.
- Accounts Receivable (AR) Processes
- Recording income and processing customer payments.
- Managing customer accounts and tracking overdue payments.
- Reconciliation of Accounts
- Reconciling bank accounts and ledgers to ensure accuracy.
Day 3: Payroll Management and Expense Reporting
- Payroll Processing
- Recording and processing employee wages and benefits.
- Understanding payroll taxes and deductions.
- Expense Tracking and Reporting
- Managing office expenses and employee reimbursements.
- Preparing expense reports for management review.
- Using Accounting Software for Payroll
- Overview of payroll features in accounting software.
Day 4: Financial Reporting and Compliance
- Preparing Financial Statements
- Creating balance sheets, income statements, and cash flow statements.
- Analyzing financial reports to provide insights to management.
- Compliance with Financial Regulations
- Understanding tax laws and compliance requirements.
- Filing financial reports and maintaining records for audits.
- Year-End Financial Procedures
- Closing the books and preparing for the year-end.
Day 5: Advanced Bookkeeping Practices
- Using Accounting Software (QuickBooks, Xero, etc.)
- Hands-on training with accounting software for office bookkeeping tasks.
- Automating financial processes using software.
- Internal Controls and Audits
- Implementing internal controls to safeguard financial data.
- Preparing for internal and external audits.
- Final Wrap-up and Evaluation
- Review of key accounting and bookkeeping concepts.
- Self-assessment and feedback.
- Developing a personal action plan for improving office accounting skills.