Bookkeeping Basics

Business vs. Personal Preview 04:35

Understand the difference and the importance of tracking personal finances separately from business finances.

Why Worry About The Money? Preview 05:46

Learn why it's important to properly and accurately track your company's financial activity...  And it's NOT only about taxes!

What Kind of Business Are YOU? Preview 09:49

How is your company set up and what does that mean to both your bookkeeping but also your entire company's operation?

The Four Business Types Preview 00:59

Which one is right for your company?  Sole proprietorship?  Partnership?  Corporation?  LLC?

CPE Review Quiz: Section 2

Let's review what you've learned in Section 2.

What and Why... Preview 07:27

Exactly WHAT is bookkeeping and WHY do we do it?

Who... Preview 08:14

There are a lot of options on WHO actually does your bookkeeping, but you can't just completely hand it off.  Find out why...

When and Where... Preview 06:53

Every day?  Once a week?  What's right for your company for WHEN the work gets done?

Also, WHERE is not only the best place to do the work, but to store your records?

Consistency Is The Key Preview 03:29

Consistency...  It makes your work easier and more accurate.  But how do you accomplish it?

CPE Review Quiz: Section 3

Let's review what you've learned in Section 3.

Section Intro Preview 04:55

Transactions Preview 06:28

Understand exactly what a financial transaction is and how it effects your business.

The Big Equation... A = L + E Preview 05:46

Learn how Assets, Liabilities and Equity relate to each other and why they must ALWAYS stay in balance.

Accounts and the Chart of Accounts Preview 04:55

Understand exactly what an account is and how to organize them into your personalized Chart of Accounts.

Sample Charts of Accounts Preview 00:42

CPE Review Quiz: Section 4

Let's review what you've learned in Section 4.

How Are You Actually Making Money? Preview 06:58

Learn the difference between selling products, services and more.

Invoices, Receipts & Statements... Oh, My! Preview 06:15

Realize the difference between issuing invoices, sales receipts and customer statements and when each one is the right choice.

If You ARE Invoicing... Preview 05:37

Examine the difference between different types of invoices as well as what information should be on each type.

Invoice Samples Preview 00:49

Not All Money Coming In Is Income... Preview 03:18

Just because you have more money in your account than you did before, does not mean you've earned income.  Learn the difference.

CPE Review Quiz: Section 5

Let's review what you've learned in Section 5.

What Are Expenses? Preview 06:53

Not all expenditures by your business are expenses.  Take a look at what is and what isn't considered a company expense.

What Does It Cost To Make (or Acquire) The Product? - COGS Preview 06:29

Determine which of your company's expenses are considered the "Cost of Goods Sold" for your particular product or service.

Organizing the Expenses Preview 03:25

Be able to organize all of your different expenses into a system that makes analysis easier.

The Stamp Preview 00:53

Learn about a simple tool that makes organizing your bookkeeping much easier.

CPE Review Quiz: Section 6

Let's review what you've learned in Section 6.

Section Intro Preview 01:55

It's Just "Stuff" - Assets Preview 08:28

Learn exactly what an Asset is as well as the different types your company may own.

Can You Break A $100 Bill? - Asset Shift Preview 04:07

Understand the difference between spending money on an expense and just switching one type of asset for another.

The Company Owes WHAT? - Liabilities Preview 05:19

Determine what happens when your company owes both short-term and long-term debts to others.

But What's Really MINE? - Equity Preview 08:19

Understand how the owner(s)'s value of their ownership in the company is calculated and determined.

CPE Review Quiz: Section 7

Let's review what you've learned in Section 7.

Put It On My Tab - Accounts Payable Preview 07:59

Investigate what happens when your company uses credit to keep its operation going.

You Want To Pay When? - Accounts Receivable Preview 08:43

Understand what's involved with letting your customers pay on credit.

What If They Don't Pay? Preview 13:28

Sometimes your customers take too long to pay or don't pay at all.  Learn how you should handle the situation and what steps are involved.

CPE Review Quiz: Section 8

How Are You Doing and How Do You Know? Preview 05:35

Take a quick look at what Financial Statements are and how they are used by both your company and outsiders.

Cash Reporting versus Accrual Reporting Preview 07:22

Examine the difference between the two basic formats of financial reporting and their impact on your business operations.

Am I Making Any Money? - P&L Report Preview 04:05

Examine the parts of an Income Statement (or Profit & Loss Report) and learn to read them.

Where Do I Stand Right Now? - The Balance Sheet Preview 04:33

Understand the Balance Sheet and what it illustrates about your company's financial health.

Am I Worth Anything? - The Owner's Equity Reports Preview 04:30

Look at the reports used to track the owner's value of their investment.

What's Owed To Me and By Me - The A/P and A/R Reports Preview 07:56

Understand the basic methods for tracking what's owed to your company as well as what it owes to others when it uses short-term credit.

CPE Review Quiz: Section 9

Let's review what you've learned in Section 9.

Section Intro Preview 01:49

Mileage Tracking Preview 03:12

Examine what is required to be reimbursed for mileage on personal or company vehicles along with what is and isn't allowed.

Terms / Cash Discounts Preview 06:22

Understand what credit terms mean on invoices and statements along with when you can receive small discounts for paying early.

Trade Discounts Preview 04:10

Look at discounts your vendors may give you for a wide variety of reasons when you purchase their products.

Shipping & Freight Preview 03:25

Understand not only who is responsible for paying for shipping but who is responsible for the actual freight until it arrives at your location.

Good Record Keeping Preview 07:44

Examine some factors in maintaining good, accurate business records.

Top 10 Mistakes Small Businesses Make Preview 07:34

Top 6 Tips For Good Bookkeeping Preview 05:02

Can I Get Some Help? and Our Course Recap Preview 07:59

Take a look at how you can receive help not only with the course but with applying the knowledge to your actually settings.  Also, a recap of what's been covered throughout the lessons.

CPE Qualified Assessment

In order to receive CPE credit for this course, you must a) complete all course content, and b) pass this qualified assessment with 70% or greater.

BONUS: What Comes Next? Preview 02:18

Now that you have a basic understanding of bookkeeping, take a look at other opportunities to learn more and how to receive special gifts and discounts.