Professional Bookkeeping and Accounting 1 - Sales and Purchases

Name: Professional Bookkeeping and Accounting 1 - Sales and Purchases
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Learn how to record your sales and purchase transactions in your daybooks with this free online bookkeeping course.

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Learning Outcomes

In this free course, you will learn how to:

Outline the importance of bookkeeping and its links to accounting
Define ‘assets’, ‘liabilities’, ‘revenue and ‘expenditure’
Explain the principles of the sales tax
Outline the importance of an invoice and identify its important details
Describe the purpose and primary data information offered by a financial statement
State the role of the Accounts Receivable (AR) department
Outline the purpose of ‘cross totting’ and ‘creditor reconciliation’
Discuss the process of recording sales, credits, purchases and returns in daybooks
Describe the purchasing process and the documents involved
Discuss the process for approving a purchase invoice

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