College-level course outlining the core responsibilities, skills, and ethical standards of a professional bookkeeper.
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This course introduces the foundational responsibilities, skills, tools, and ethical standards required of a professional bookkeeper. Students learn how bookkeepers support the accounting cycle by recording transactions, maintaining accurate financial records, reconciling accounts, processing payroll, supporting accounts payable and accounts receivable, and assisting with month-end closing. Emphasis is placed on practical application, accuracy, attention to detail, and proficiency with accounting software and spreadsheets.
Upon successful completion of this course, students will be able to:
Focus Role of the bookkeeper, ethics, confidentiality, internal controls.
Key Responsibility: Maintain accurate and ethical financial records.
Focus Assets, liabilities, equity, debits and credits, chart of accounts.
Key Responsibility: Record financial transactions correctly using double-entry accounting.
Focus Invoices, receipts, purchase orders, statements, timesheets, deposit slips.
Key Responsibility: Organize, classify, and retain all source documents supporting transactions.
Focus General journal, general ledger, subsidiary ledgers (AP, AR, inventory).
Key Responsibility: Maintain journals and ledgers to ensure accurate, up-to-date records.
Focus Bank statements, credit card statements, petty cash handling.
Key Responsibility: Perform regular bank and credit card reconciliations.
Focus Vendor setup, bills, purchase orders, payment schedules, 1099 tracking.
Key Responsibility: Process vendor bills, maintain AP ledger, and support 1099 reporting.
Focus Customer setup, invoicing, cash receipts, collections, customer deposits.
Key Responsibility: Issue invoices, record payments, and manage collections.
Focus Gross vs. net pay, deductions, taxes, timesheet review.
Key Responsibility: Maintain payroll records and support accurate payroll processing.
Focus Inventory systems (FIFO, LIFO, weighted average), adjustments, shrinkage.
Key Responsibility: Track inventory purchases, usage, and reconcile inventory balances.
Focus Capitalization vs. expense, depreciation methods, asset disposals.
Key Responsibility: Maintain a fixed asset register and depreciation schedules.
Focus Taxable vs. non-taxable sales, sales tax tracking and reporting.
Key Responsibility: Track sales tax collected and prepare data for sales tax filings.
Focus Segregation of duties, approval workflows, documentation standards.
Key Responsibility: Implement and follow internal controls to reduce fraud risk.
Focus Accruals, prepaids, adjusting entries, trial balance review.
Key Responsibility: Assist in the month-end close by preparing reconciliations and schedules.
Focus Income statement, balance sheet, cash flow overview.
Key Responsibility: Generate basic financial reports from bookkeeping data (for review by an accountant).
Focus Setting up company files, chart of accounts, bank feeds, recurring transactions.
Key Responsibility: Use bookkeeping software and spreadsheets to maintain digital accounting records.
Focus Full-cycle bookkeeping case study from initial transaction to basic financial statements.
Key Responsibility: Demonstrate mastery of end-to-end bookkeeping processes.