Bookkeeping Course Entry System

This program offers students the opportunity to obtain a through understanding of bookkeeping techniques and practices and how to apply them in both manual and computerized environments 

Bookkeeping courses includes accounting basics and also includes financial accounting.

It also includes chart of accounts.

  • Accounting basics
  • Financial accounting
  • Chart of accounts

Entry systems

Two bookkeeping methods is most common use today are the single-entry bookkeeping system and the double-entry bookkeeping system.

.Single-entry bookkeeping is  for many small businesses; it uses only income and expenses accounts recorded primarily in a revenue and expenses journal. 

In the double-entry system, at least two accounting entries are requires to properly document each financial transaction. These entries may be record to asset, liability, equity, expense, or revenue accounts.

Single-entry system

The primary bookkeeping includes record in single-entry bookkeeping is the cash book, which is similar to a checking accounts register, except all entries are allocated among several categories of income and expense accounts. 

Separate accoun incldes the records are maintained for petty cash, accounts payable and receivable, and other relevant transactions such as inventory and travel expenses. To save time and avoid the errors of manual calculations, single-entry bookkeeping can be done today with do-it-yourself bookkeeping software.

Double-entry system

double-entry bookkeeping system is a set of rules for recording financial information in a financial accounting system in which every transaction or event changes at least two different nominal ledger accounts.

Computerized bookkeeping Entry

Computerized bookkeeping removes many of the paper “books” that are used to record the financial transactions of a business entity; instead, relational databases are used today, but typically, these still enforce the norms of bookkeeping methodology including the single-entry and double-entry bookkeeping systems. CPAs supervise the internal controls for computerized bookkeeping systems, which serve to minimize errors in documenting the numerous activities a business entity may initiate or complete over an accounting period.

Leave a comment

Your email address will not be published. Required fields are marked *