Bookkeeping Level 2 - Module 2

To teach manual book-keeping to cover unit 2 of the OCR Level 2 Certificate in Accounting and part of the IAB Level 2 Award in Manual Book-keeping and Certificate in Book-keeping (competence), as well as enabling those running a small business to keep accurate accounting records.
 

Course Content:

• Lesson One – Including: Posting the opening balances at the start of a new trading year, using a Trial Balance to illustrate the accounting equation, posting brought forward balances, making postings from a 3 column Cash Book to the ledger accounts.

• Lesson Two – Including: Understanding the various methods of making and receiving payments, preparing a daily takings and cash for banking form, reconciling daily takings to a till roll report, completing a paying in slip in order to bank money received, checking eligibility for cash discount.

• Lesson Three – Including: Updating and balancing the ledger accounts, reconciling the Debtors and Creditors Control accounts, using the Journal in order to process the book-keeping entries for contra transactions and bad debt, processing a returned cheque.

• Lesson Four – Including: Preparing a cash reconciliation statement, the reasons why a bank reconciliation is performed, preparing a bank reconciliation statement, updating the Cash Book.

• Lesson Five – Including: Knowing how to maintain a self-managed credit control system, the purpose of a monthly statement, preparing monthly statements to send to customers, the purpose of an aged debtor analysis.

• Lesson Six – Including: Comparing a supplier statement to the related Purchase Ledger account, preparing a reconciliation statement, the action to take in respect of any discrepancies, identifying invoices falling due for payment, preparing a remittance advice and related payments.

• Lesson Seven – Including: The purpose of payroll, the elements which make up gross pay, identifying typical statutory and voluntary deductions and employer oncosts, preparing the Journal entries to account for payroll, keeping a Wages/Salaries Control account and Wages/Salaries Expenses account, keeping PAYE/NIC and Pension Creditor accounts.

• Lesson Eight – Including: Different VAT schemes, knowing how the double entry system is used in order to account for VAT, Form VAT 100 and preparing a pro forma VAT return, balancing the VAT account, demonstrating the ability to process ledger transactions and prepare control accounts.
 

Duration Approx 20 - 22 Hrs