Introduction to Bookkeeping for Small Business Owners

Offered By: LinkedIn Learning

Tags

Accounting Courses Balance Sheets Courses Income Statements Courses Financial Management Courses Cash Flows Courses Bookkeeping Courses General Ledger Courses

Course Description

Overview

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Learn the fundamentals of bookkeeping to help you manage your business's financial information and make more informed business decisions.

Syllabus

Introduction

How to excel at bookkeeping

1. Terms Overview

Chart of accounts
Defining reconciling
Understanding income statements
Optimizing balance sheets
General ledgers
Monitoring cash flow
Revenue versus profit
Liabilities and expenses

2. Bookkeeping Basics

Business versus personal funds
Tracking business transactions
Setting up loans and assets
Recording transfers
Depreciation and amortization
Using journal entries
Cash and accrual reporting
Customer prepayments
Defining class tracking
Defining job costing
Monitoring bartering services

3. 1099 Reporting

Contractors versus employees
Mapping 1099 accounts
W9 and 1099 forms
Issuing a 1099
1099 due dates
Correcting 1099 mistakes

4. Tax Preparation

Organizing documents
Estimated tax payments
Tax preparation reports

Conclusion

Maintaining compliance

Taught by

Candy Messer and Madecraft

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