Bookkeeping, Credit Control and Payroll
Needed Skills for Complying with Regulations
- Starts 11 Mar 2024Starts 11 Mar 2024
- 1,350 British pounds£1,350
- Brooker Road
An outline for a comprehensive 5-day training program that covers bookkeeping, credit control, and payroll: Day 1: Bookkeeping Basics Bookkeeping Fundamentals • Introduction to Bookkeeping and Its Importance. • Key Bookkeeping Terminology and Concepts. • Legal and Compliance Requirements for Record-Keeping. • Types of Businesses and Their Accounting Needs. Double-Entry Bookkeeping • Principles of Double-Entry Accounting. • Chart of Accounts and Account Classification. • Journal Entries and Posting to Ledgers. • Setting Up a Manual or Digital Ledger. Day 2: Recording Financial Transactions Transaction Recording • Understanding Debits and Credits. • Recording Sales Transactions and Revenue. • Handling Purchases, Expenses, and Suppliers. • Cash Flow Management and Bank Reconciliation. Inventory and Practice • Managing Inventory and Inventory Valuation. • Practice: Recording Various Financial Transactions. • Review and Discussion of Practical Exercises. Day 3: Financial Statements and Reports Financial Statement Preparation • Income Statement (Profit and Loss Statement) Creation. • Balance Sheet Preparation. • Cash Flow Statement Overview. • Ratio Analysis for Financial Health. Interpreting Financial Statements • Generating Financial Reports Using Software. • Analysing Key Financial Ratios. • Understanding Financial Statements for Decision-Making. • Case Studies on Financial Analysis. Day 4: Credit Control and Management Credit Control Basics • Introduction to Credit Control. • Credit Policy and Credit Assessment. • Credit Terms and Credit Limits. • Strategies for Credit Risk Mitigation. Debt Collection and Monitoring • Effective Debt Collection Techniques. • Credit Control Software and Tools. • Case Studies on Credit Control Success Stories. • Group Discussions on Credit Management Challenges. Day 5: Payroll and Taxation Payroll Management • Payroll Processing, Deductions, and Payslip Generation. • Income Taxation and National Insurance Contributions. • Employee Benefits and Expenses. • Handling Payroll Records and Compliance. Taxes and Reporting • VAT Basics and VAT Returns. • Corporation Tax for Companies. • Tax Reporting to HMRC. • Year-End Closing Procedures. Throughout the training program, participants will engage in practical exercises, case studies, and real-world scenarios relevant to bookkeeping, credit control, and payroll. Encourage active participation, and provide support for hands-on practice with accounting and payroll software.
121 Brooker Road, Waltham Abbey, UK