Bean Counter's
So, you want to learn Bookkeeping !
Special Journals
Hello it's Dave again. For those of you that took my free So you want to learn Bookkeeping! Introductory Tutorial or any of my other bookkeeping tutorials we've already met. For those who haven't, I'm a graduate of the University of Tennessee (Go Vols) and a Bean Counter (accountant) with over 30 years of experience.
This tutorial is geared to business owners, managers, and individuals who have not had any formal bookkeeping training or on the job experience and need or want to learn the basics of bookkeeping. In other words, this tutorial is for beginners (newbies) and is only an introduction into the world of accounting. They say a little knowledge is a dangerous thing. Well my goal is to make you dangerous.
Who is this Course for ?
This bookkeeping tutorial and course is geared to business owners, managers, and individuals who have not had any formal bookkeeping training or on the job experience and need or want to learn the basics of bookkeeping and accounting. Oh by the way, you can teach an "ole" dog new tricks. In other words, this bookkeeping tutorial is for beginners (newbies) or those needing a quick refresher and is only an introduction into the world of bookkeeping and accounting. They say a little knowledge is a dangerous thing. Well, my goal is to make you dangerous.
Prior Knowledge Needed
You need a basic familiarity with Beginning Bookkeeping terms, forms, and financial statements. If you need to "brush up", check out my Beginning Bookkeeping Tutorial
Assumptions
All lessons and examples in this tutorial are all based on the accrual method of accounting, the double entry method of bookkeeping, and the sole proprietor type of business organization.
Cartoons are used to add a bit of humor to your Learning Experience. Who says that Learning Can't Be Fun ? Not Me !
What’s Covered ?
The Introduction describes the Chart Of Accounts, the Double Entry Bookkeeping System, Accounting Equation, Source Documents, General Ledger, Debits and Credits, and the different types of Special Journals and their Purpose.
Lesson 1 Special Journals, General Ledger Control Accounts, and Subsidiary Ledgers reviews what they are, their purpose, when they are used, and how they are related.
Lesson 2 Sales & Cash Receipts Journals discusses the purpose of these journals, what information is recorded, and provides examples and illustrations of the types of entries that are normally recorded in these journals.
Lesson 3 Purchases & Cash Disbursements (Payments) Journals discusses the purpose of these journals, what information is recorded, and provides examples and illustrations of the types of entries that are normally recorded in these journals.
Lesson 4 Sales & Purchase Return Journals discusses the purpose of these journals, what information is recorded, and provides examples and illustrations of the types of entries that are normally recorded in these journals.
Lesson 5 General Journal discusses the purpose of the General Journal and discusses the types of entries normally recoded in this journal.
Lesson 6 Worksheets and Financial Statements discusses adjusting and closing entries, the Trial Balance Worksheets, and discusses Financial Statements.
Lesson 7 Closing The Books provides examples and illustrations of the how the Worksheets are used, how and why adjusting and closing entries are prepared and posted and the preparation of formal financial statements.
Lesson 8 Review Of Major Concepts provides a review of what we discussed and what you should know.
Learning Objectives
After completing this course, you should know or be able to perform the following:
After completing this course, you should know or be able to perform the following:
- What Special Journal to use to record transactions.
- How to analyze and record transactions using the formal financial records such as Special Journals, General Ledger and Control Accounts, and Subsidiary Ledgers.
- Understand Adjusting and Closing Entries and how to prepare the formal adjusting and closing entries.
- How to prepare the formal Financial Statements using Trial Balance Worksheets.
Navigation
The Vertical Menu on the Left Side Of The Page contains the Lessons / Sections for Each Lesson.
In some cases, you may need to Scroll Down the Page to select the Lesson / Section.
Each Lesson / Section has Buttons at the Bottom of the Page to use for Moving Back to Prior Lessons / Sections and Moving Forward to the Next Lesson/ Section.
How Long ?
You should plan on spending approximately an hour on each lesson.
How To Use The Course
You can first View and Read The Lessons / Sections and then Watch the Videos
or
You can first Watch the Videos and then View and Read The Lessons / Sections
Bookkeeping Videos and Final Exams
Bookkeeping Videos are included at the end of each lesson to emphasize key concepts. In addition, Bookkeeping Videos and Final Exams are included at the end of the course to emphasize key concepts and test your knowledge.
Learning Aids
The following Learning Aids are included in order to help you to understand the bookkeeping concepts discussed in this tutorial:
ALOE-RED
Acronymn - Easy Way of Remembering the Types Of Accounts
Major Types Of Accounts & Relationships
Diagram
Types Of Accounts
DEALER
Acronymn - Easy Way of Remembering the Types Of Accounts and Debits & Credits
Basic Accounting Financial Statements Equations
Diagram
Accounting Equation
Sample Balance Sheet Accounts
Descriptions & Definitions
Balance Sheet Accounts
Sample Income Statement Accounts
Descriptions & Definitions
Income Statement Accounts
Basic Bookkeeping Concepts Textbook
Textbook
Bean Counter Tutorial
Terms & Definitions
Additional Accounting & Bookkeeping
Terms & Definitions
Glossary
Debits & Credits Cheat Sheets
Help on determining when to Debit or Credit
Dr/Cr Cheat Sheet
Diagram
Debit/Credit Flow Chart
Special Journals
What Journal To Use
Flow Chart/Diagram
Special Journals
Posting Process
Posting Process Flow Chart
You can Download the Learning Aids as PDF'S and use them as you complete the course.
Copyright © Bean Counter
Acknowledgements
Cartoons on this site provided by Ron Leishman. All Toon images are copyright © . No images may be resold or redistributed without prior written permission from Ron Leishman. If you enjoyed them, get some of your own Toon-A-Day.
Disclaimer
The information provided on this site is not intended to provide or be a substitute for specific individualized accounting, tax, legal, business, or investment planning advice. Where specific advice is necessary or appropriate, Bean Counter recommends consultation with a qualified tax advisor, CPA, Financial Planner or Investment Manager. The information provided herein is for general informational purposes only and should not be considered an individualized recommendation, personalized investment advice or an endorsement by Bean Counter. The information presented is obtained from what are considered reliable sources; however, its accuracy, completeness or reliability cannot be guaranteed and therefore should not be relied upon as such. Bean Counter accepts no liability for any direct or consequential loss arising from any use of this information.
Bean Counter and their affiliated parties make no representation regarding sites that you might access from this site and are not liable for any damages that you incur from their use.