Author: Quentin Pain
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What Are Bookkeeping Skills?
What Are Bookkeeping Skills? Being a good bookkeeper means being able to represent an exact picture of the financial aspects of your business on paper or electronic files. You need all sorts of skills to become a great bookkeeper; soft and hard skills, and above all an interest in having an overview of the financial…
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Keeping Accounts For Small Clubs – A Simple Guide
So you’ve just become the treasurer (or are thinking of becoming a treasurer) for your local club, but you’re not sure what it involves, or what your responsibilities are for taking over this role. Well, let’s clear it all up so you know what to expect and what you need to do. First off, you…
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Treasurers Guide Part 1
Treasurers are usually unpaid volunteers, if you are one of these, welcome to the club. Your job can range from the ridiculously easy to the incredibly complex. If you have just volunteered to be a treasurer for your local club, society, or charity, help is at hand. The right ground rules, simple systems, and a…
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Are Bookkeeping and Accounting the Same?
Understanding the Difference Between Bookkeeping and Accounting While bookkeeping and accounting are closely related financial processes, they serve distinct roles within a business. Recognizing these differences is essential for business owners to ensure proper financial management and compliance. What Is Bookkeeping? Definition and Purpose Bookkeeping involves the systematic recording of daily financial transactions. It provides…
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Are Bookkeeping Businesses Profitable?
The simple answer to the question ‘Are bookkeeping businesses profitable?’ is ‘Yes.’ The most important thing when setting up your new bookkeeping business is to be clear about the process; be accurate and knowledgeable about the numbers you are handling and work on the detail. That will ensure that you know exactly what is going…
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How To Become A Bookkeeper
The simplest way to become a bookkeeper is to start with a basic bookkeeping course, such as the Accounting for Everything online course and through organisations such as the Institute of Accountants and Bookkeepers (IAB) in the UK, who also offer further global bookkeeping certification options. The alternative is to apply as an accounts junior…
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Turnover, Gross Profit, Net Profit, EBITDA and EBIT
Knowing the difference between gross profit and net profit matters for 2 main reasons: And that’s because it records the difference between your sales and what is costs you directly to make those sales. That difference represents your sales margin or markup. It is the first indicator of profitability in a business. A while back…
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Depreciation and Capital Allowances
Depreciation is the amount an asset has reduced depending on age, wear and tear, and current market value. It is a core part of bookkeeping, and usually applied at year end (for larger businesses it is often calculated every month as part of management reporting). When you record the purchase of an asset such as equipment or buildings…
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Why Should I Take Control Of My Business Accounts?
Why You Need to Take Control of Your Business Accounts In the UK, HMRC is preparing to introduce compulsory quarterly accounting periods for all businesses in the near future. This change means that every three months, business owners will need to know their exact financial position. Accurate, up-to-date bookkeeping will no longer be optional—it will…
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What people are saying about the Accounting for Everyone free Bookkeeping Course
I hope I will learn something from this having never been involved in anything like it before but hubby is setting up his own business and wants me to do the admin and book keeping and accounts so have to learn quick. So thank you for this, wish me luck think I’m going to need it. Thank you…
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FAQ
Understanding Accounting Ratios One of the most frequently explored topics in accounting is Accounting Ratios. These ratios serve as vital tools for analyzing a company’s financial health, efficiency, and profitability. They provide quick insights into how well a business is performing and help identify areas for improvement. Why Are Accounting Ratios Important? They enable quick…
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Double-entry Accounting Explained In Simple Terms
Double-entry accounting is really very simple provided you follow these rules. Everything starts with a Source Document. That is usually an invoice for something you have sold or a receipt for something you have bought. Each Source Document is copied into your double-entry system by creating Transactions. A Source Document always contains at least one…
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Bookkeeping Online Class
Introduction to Bookkeeping Online Class If you are just starting your journey into bookkeeping and accounting, enrolling in the Accounting for Everyone 12-week online course is a smart first step. This course is designed for beginners, offering a solid foundation in key accounting concepts while using practical examples and easy-to-understand language. About the Accounting for…
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Accounting Courses Online With Certificate
The number of online accounting courses is quite limited, and of those not many are particularly good, but Accounting for Everyone is one of the diamonds in the pack. It was put together from over 12 years of research into the double-entry model and how it can be explained in a logical way (and trust…
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Learn Double-Entry Bookkeeping
Here’s a great resource from Loris Tissino. He has developed a site to step you through double-entry including transactions and posting. I think you will find this another very useful tool. Loris has written a piece for Accounting for Everyone describing it. Here we go: If you are a student and want to practice bookkeeping…
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Accounting for Depreciation
Depreciation is really important yet few bother to do it. Why? because it seems so hard to do. But the reality is that it is really very simple. But first we need to look at what it is, and why we need to do it. The Value Of Assets Everything you buy to use for…
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Welcome Bookkeepers and Business Owners to 2013
I have been passionate about accounting ever since I started my first business back in 1979 in the UK. It grew quickly and became successful, and I developed a computer program during that time to run the accounts of the business. So here we are 33 years later and a LOT wiser, plus a few more…
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2012 And All That
Another year is upon us and at a time of world recession, you can not do better than being a bookkeeper. The number of new startup businesses is increasing globally because of redundancies and people unwilling to work for others. The one thing they all have in common is that they don’t want to learn…
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Advanced Balance Sheet Theory
If you are not familiar with balance sheets you should take my bookkeeping course first as I don’t want to put anyone off with this article. OK, with the warning out of the way, let’s press on… With most accounting systems, things like balance sheets are considered as reports. That is, something you need to…
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On Journals And Ledgers
It’s been an incredibly busy month here on Accounting for Everyone, with many wonderful new comments on the various weeks’ course material. It took me many years to really understand double-entry. I did it by reading all the books I could get my hands on, and talking to thousands of business owners, oh, and the…