Businesses of all sizes need someone who can ensure that their financial well-being is being assessed constantly. This is where a skilled bookkeeper comes in. When you have the knowledge necessary to run the numbers and create the right reports, you play an active role in the success of a company.
A basic bookkeeping course helps you to acquire the skills and knowledge that you need to be successful in this field. The Bookkeeping Basics #1: Understand the Fundamentals bookkeeping basics course is a good place to start. This program is ideal for people who have no previous experience, but they want to develop the basic bookkeeping skills they need to launch their career in this finance field.
The Advantages of a Bookkeeping Career
Bookkeeping is a versatile career that allows you to seek employment in any industry. Companies of all sizes need a skilled bookkeeper to help them to maintain the financial aspects of their business.
This career path requires that you are flexible because you will be completing a diverse array of tasks each day. You can use this to your advantage because the work typically does not become tedious. Those who go into bookkeeping often say that they do not become bored at work because they do so many different things throughout the day.
As a bookkeeper, you can choose to freelance or work for one company. This makes it easy to create a career that best fits your lifestyle. It also gives you an opportunity to take control over your earning potential and the industry that you work in.
A basic bookkeeping program typically takes under six months to complete. This specific course on bookkeeping basics takes about six weeks to finish. Because of this, you will be able to quickly start your career. There is no need to spend four or more years at a university to acquire the skills and knowledge you need to apply for entry-level positions.
The Bookkeeping Basics #1: Understand the Fundamentals Course
This bookkeeping basics program is ideal for people who want to break into the bookkeeping industry. It also works for people who own a business and want to learn basic bookkeeping to help to maintain their company’s finances.
This program puts emphasis on making sure that all of the concepts are easy to understand. It defines all of the terms in simple language and each unit builds upon the last. As you go through the program, you have resources that help to relate what you are learning to real-world applications.
The instruction that you receive is delivered via video format. There are approximately 4.5 hours of video on demand. Each video is a different lecture and you can watch them as many times as necessary to adequately retain the information.
In addition to the video lectures, there are 53 downloadable resources that you can take advantage of. These work to supplement the videos and provide you with additional information. Since you download these, you will always have access to them whenever necessary. Refer back to them at any point during the course and once you finish it to refresh your knowledge.
As you go through the course, you are presented with everyday examples that help to show you how the concepts function for bookkeepers.
Once you finish this course, you will have a diverse array of knowledge, including:
- How to determine what income is and accurately track it
- Understanding how liabilities, assets and equity are different
- Accounts payable and receivable
- Common mistakes made by small businesses regarding their finances
- The expense types that a business can claim when filing their taxes
- Bookkeeping’s five Ws
- The fundamental financial equation
- Tips to help you to be a more efficient bookkeeper
- Chart of accounts
- The different types of transactions and how to use them
- A variety of additional business financial concepts, such as credit terms, trade discounts, mileage tracking and freight and shipping
After you get through all of the units in this course successfully, you will receive a certificate of completion. You can use this to show potential employers that you finished the course and have the skills needed to be a professional and effective bookkeeper.
Who Created This Bookkeeping Basics Course?
Udemy is the host of this bookkeeping basics program. However, this basic bookkeeping course is taught by Ron Trucks. He is a college instructor and a small business coach.
Trucks started his career more than 25 years ago. He has more than two decades of experience coaching and teaching non-profit organizations and small businesses. His teaching experience spans more than 10 years and also includes working as an adjunct professor for business management at Jefferson College.
A Detailed Look at This Bookkeeping Basics Course
This bookkeeping basics program is shorter than comparable courses that teach basic bookkeeping, but it provides all of the necessary information regarding the fundamentals and principles that you need to know to build your career. There are 48 lectures as part of this course. This is broken down into 11 sections.
This section is focused on introducing you to the course. There are two videos that make up under 15 minutes of content. You should use this to learn more about what the course entails and how to utilize the different elements of the program.
The second part of this introduction section talks about some resources that you can take advantage of to better understand the concepts. Use this information to expand on the information that you learn throughout the course.
You will find four videos in this section. All of them are focused on the relationship between business and money. The first video discusses the difference between personal and business. It adds some perspective about the financial elements of a business.
The second video explores why businesses are concerned about their finances. It breaks down the importance of knowing your numbers and the role they play in the failure or success of a company.
The final two videos look at business types. In the third video, you learn about how to determine the classification of a business. As you watch the fourth video, you get the details about the four types of business.
This section explores the five Ws associated with bookkeeping. Here you will start to learn about the fundamentals of bookkeeping and what it takes to be good at your job. The first three videos in this unit explore the what, who, why, where and when of bookkeeping.
There is a fourth and final video in this section. It looks at consistency and why it is imperative in bookkeeping. The video explains what consistency related to bookkeeping means and how to ensure that you are always consistent when you are carrying out your daily tasks at work.
Here you start diving into the different tools that bookkeepers use to track the financial wellness of a company. Make sure that you watch the short introduction video in this section because it sets the foundation for the other four videos.
The second video is all about the different types of transactions that you will run into when you are working as a bookkeeper. You will then learn about the big equation in bookkeeping. From here, you are introduced to the chart of accounts and the different accounts that are part of it.
The next video shows you a chart of accounts sample so that you can see what it looks like. This helps you to relate what you are learning to the real world. Finally, you will have a quiz to take. It is 10 questions and helps to assess what you have learned so far.
This section is all about revenue and income. You will learn how to determine how a company is making its money. The other videos strongly focus on invoicing. You also get some information about statements and receipts.
For the invoicing information, you learn about what they are, their importance and how to properly utilize them to evaluate revenue and income. There are some samples that the program shows you so that you can see invoices in action.
One video looks at how all of the money coming into a business is not always income. This allows you to better differentiate between revenue and income. The last part of this section is another quiz. It has 10 questions to assess your knowledge.
Expenses are the focus of this section. It explains what expenses are, how to determine costs and techniques that you can use to effectively organize expenses. There is a short section on the stamp and some information about how expenses play a role in the income of a company. This section wraps up with a 10-question quiz.
Once you get to section seven, you will start exploring what bookkeepers refer to as the big three. These include assets, equity and liabilities. There is a video for each of these topics so that you get in-depth information. The introduction video for this section gives you some basics that the individual topic videos will build on. Finish this section with a 10-question quiz.
Payables and receivables are the focus of this section. It covers what payables are and how you can track them to ensure that everything is paid on time. You will learn about receivables and what to do if someone who owes the company is having a hard time paying their tab. This section also covers how both of these concepts work together regarding a company’s revenue.
Here you will learn more about the reports and reporting that bookkeepers do. It explains how to use reporting properly so that you can utilize it to determine the financial health of the business.
The following reports are explored in this section:
- Accrual reporting
- Balance sheet
- A/R and A/P reports
- Profit and loss reports
- Equity reports
There is a quiz at the end of this section that consists of 10 questions.
This section is called Odds and Ends. It gives you information that is not used in all industries. However, if you know it, it can aid you in being a more competent bookkeeper.
You get insight into the following:
- Mileage tracking
- Information about trade discounts
- Some tips to help you maintain records for efficiently
- Six tips that promote better bookkeeping
- Cash discounts and related terms
- Freight and shipping
- A list of 10 common mistakes made by small businesses
This section wraps up the course for you. It provides a recap so that you can review everything that you have learned in the nine primary sections of the course, as well as section 10 which provides extra information that bookkeepers can benefit from knowing. You will also get some insight about what comes next after finishing this course and hitting the job market.
How Much Does This Bookkeeping Basics Program Cost?
The total cost of this bookkeeping basics course is $74.99. Once you pay the fee, you are granted full access to the program. You can access all elements of this basic bookkeeping program for life after making your one-time payment.
You can access the program on your computer, television, tablet or cellphone once you are enrolled into the program. There are no extra charges for different devices.
Using This Basic Bookkeeping Course to Jumpstart Your Career
This bookkeeping basics program is a good choice if you want to start a career in bookkeeping or add some additional credentials to your resume for work in the finance industry. The basic bookkeeping skills that you acquire put you in position to work as an entry-level bookkeeper.
Data from February of 2019 shows that in the US, bookkeepers with no previous experience working in the field earn an average of $37,402 (this will vary each year and from each source). As you gain more experience in the field, there is the potential for a higher salary level.
You can also use this program to launch a freelance bookkeeper career. In this instance, the average starting salary is about $42,800 per year (varies each year).
This bookkeeping basics course ensures that you have strong knowledge of all important bookkeeping fundamentals and principles. Upon finishing this basic bookkeeping course, you will be prepared to start applying for entry-level jobs in this field.
The layout of this bookkeeping basics program is simple and easy to follow. Once you enroll, you have full access to everything you will need to successfully complete the course. Since the instructor has significant experience and knowledge in this field, you can be confident that the bookkeeping basics that you learn will be accurate and current.