All businesses need to process payments to suppliers and receive payments from customers; this flow of money needs to be organised, processed and recorded in a professional transparent manner so that appropriate people can verify payments that have been made or received. The key to the process is to have a systematic approach and to carefully use accounting software to record all transactions.
This training program will teach you as much as possible about the theory, but you really learn by doing it in a real business situation and using accounting software and real invoices.
Components in this Module
1 - Process Accounts Payable and Receivable
2 - Transaction Documents and Authorisation
- Payment Documents
- Valid Tax Invoices
- What is Wrong with this Tax Invoice?
- Designated Persons
- What to Do About Discrepancies?
- Checkpoint 1
3 - Accounting
- Accounting Systems
- Accounting Terms
- Journals and Ledgers
- Accounts Receivable Journal
- Accounts Payable Journal
- Single Entry Accounting
- Double Entry Bookkeeping
- Test your Double Entry Bookkeeping Skills
- Owner's Equity Assets and Liabilities
- Debits and Credits
- Credit or Debit?
- Bookkeeping Example
- Accrual Methods
- Checkpoint 2
4 - General Ledger
- General Ledger
- General Ledger Summary
- Maintaining the General Ledger
- Checkpoint 3
5 - Processing Payments
- Payment Transactions
- Processing Payments
- Filling Out a Cheque
- Can you Spot the Mistakes on the Cheque?
- Bank Transfer
- Other Payment Methods
6 - Recording Payments to Others
- Enter Purchases
- Recording Payments Spend Money
- Goods and Service Tax (GST)
- Calculating GST
- Checkpoint 4
7 - Processing Income
- Receiving Payments
- Credit / Debit Card transactions
- New Payment Systems
8 - Recording Receiving Income
- Income Transactions
- Recording Income Receive Money
- Enter Sales
- Sales Journal
- Sales Account Codes
- Checkpoint 5
9 - Balancing and Reconciliation
- Reconcile Accounts
- Individual Accounts and the Whole Business
- Trial Balance
- Finding Errors in a Trial Balance
- Bank Reconciliation
- Can you Identify the Differences?
- Checkpoint 6
10 - Reports and Overdue Accounts
- Prepare Statements
- Ageing Invoices
- Cash Flow Report
- Create Reports
- Following up Accounts
- Australian Consumer Law
- Checkpoint 7
No previous knowledge or experience is required.
The online courses are made up of a number of learning modules. Each module has an estimated time to complete them (click on the ‘i’ next to the module to get the time).
The time to complete a module can vary based on your existing knowledge of the material.
No need to finish the course in one session. You can log in and out as many times as you like, until the course end date. The course end date is shown when entering the training. The system remembers what you have completed and you can continue on from where you left off.
How does it work?
Once we receive confirmation of your payment (which could take up to 24 hours), you will receive an email with your login details. Go to the login page which will be emailed to you. Enter your details then click on the name of the course when you are ready to start.
How do I pay?
Pay with mastercard or visa through our secure PayPal internet payment facility. You can also select to ‘Generate an Invoice’ or ‘Make An Enquiry’ and we will get back to you with a group pricing as a quote or submission for you to respond to.
Who should do this course?
These courses are for anyone who wants to learn more or wants to extend their resume by becoming more knowledgable in their company.
How will I be assessed?
Each module is broken into sections with checkpoints, interactive challenges and quiz questions throughout. You are required to go through each section and answer every question correctly to be deemed competent. If you answer any questions incorrectly, you will be given feedback on which question you answered incorrectly. You can then correct your response and continue.
Will I receive a certificate?
These are non accredited corporate-based short courses and if successful you will receive a Certificate of Completion.
Steps to proceed with enrolling in a Course
Step 1 – Select a Course(s) by adding it to the Shopping Cart.
Step 2 – Pay for the course (using Paypal).
Step 3 – Once we have received the payment we will send you an email confirming your order.
Step 4 – This email will have instructions for connecting to the course, your login ID and password.
Step 5 – Complete the online course.
Step 6 – Once the course has been successfully completed, you will have access to your certificate.