How to Learn Bookkeeping At Home?

Bookkeeping: Bookkeeping is to maintain a record of the financial transactions of the company. It involves keeping accurate data along with recording and organizing accounting transactions of the company. It includes the transactions like maintaining receivable and payable of the company, cash transactions, recording and verifying invoices of the customer and vendor bills, recording depreciations, maintaining individual accounts, providing financial reports. It is now done with the help of different software like QuickBooks Fresh books Zoho books, etc. There are many other bookkeeping software that re being used worldwide. The software are used for business, management, real estate, etc.

The importance of bookkeeping: this is an essential part of any business. Either small or big, every business needs to record, organize and store their financial transactions. It helps business to understand how much money it is actually making and how much expense have incurred. It helps in budgeting and forecasting profits. Also, it helps to keep a record of receivables and payables. It helps in taking financial decisions for the company by providing the accurate details of how much profit has been generated and how much expense has been incurred. For taking loans from the bank, it requires complete financial data, cash flow budget of the company to prove the financial position of your business. By keeping proper records of transactions, the discrepancies can be avoided for filing tax.

Learning bookkeeping at home: With the passage of time, keeping records and organize of financial transactions has become so important for any business that it has become mandatory for every business to opt bookkeeping. One must have a financial background for understanding the debits and credits and the accounting terms and also the technical jargons. However, the software’s, that have been developed with time, have made the life of an individual easy because these bookkeeping software are easy to use and can be easily understood by a non-accounting individual. There are many websites that are providing online training for bookkeeping and have made our lives easy.

Accounting coach is one of the websites that provides detailed training of this. Starting from accounting basics, that includes details of the income statement, balance sheet, double entry bookkeeping, statement of cash flow. Then moving to debit and credits, chart of accounts, bookkeeping, accounting principles and equations and so on. The website provides detailed information and training to an individual. It not only provides PDF files but also includes sample transactions and question and answers to check the understandability of an individual and to test their skills.

Beginner-bookkeeping is another website that provides detailed information about bookkeeping. It includes single entry, double entry, office basics, excel cash book, payables, receivables, reconciliations etc. It helps in learning about how making a journal entry, how to read a balance sheet, how to make bank reconciliations. It even helps in understanding that how making customer invoice. There are various other topics that have been covered by this website in very easy to understand language.

Conclusion There are many other online courses program, but with a bit higher cost. Different colleges provide different courses and different fees. Some have introduced undergraduate programs while some have a semester system. There are some free online bookkeeping courses as well and that too with the certificate. Also, the softwares have made the life of an individual easier and these softwares also come up with tutorials that make them easy to use and understand. The softwares are not expensive and reduces the manual working and helps in keeping the accurate record of the transactions.

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