At the end of this course you should be able to:
● Understand double-entry bookkeeping, integrate books of prime entry and describe coding system functions
● Understand discounts and settlement, trade and bulk discount differences
● Prepare and process customer and supplier invoices and credit notes
● Total and balance a 3-column analysed cash book
● Total, balance and reconcile petty cash records within an analysed petty cash book
● Process ledger transactions and extract a trial balance
● Control accounts, journals and the banking system
● Understand the purpose and use of control accounts and journals
● Maintain and use control accounts and journals
● Reconcile bank statements with cash books
● Understand the banking process and main services of banks and building societies
● Understand requirements of retention and storage relating to banking documents.
Prosp User 3