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Basic Bookkeeping Workshop Day 1 6
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Training Regulations for Bookkeeping NCII & The Bookkeeping NCIIILecture1.1
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What is Accounting?Lecture1.2
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Bookkeeper Vs. AccountantLecture1.3
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Accounting/Time Period/PeriodicityLecture1.4
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Elements of Financial StatementsLecture1.5
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Day 1: ChallengeLecture1.6
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Basic Bookkeeping Workshop Day 2 6
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Day 1: Challenge & RecapLecture2.1
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Accounting CycleLecture2.2
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Books of AccountsLecture2.3
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Step 1: Analysis Phase – Accountable FormsLecture2.4
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Steps in Accounting Cycle (Activity)Lecture2.5
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Day 2: Challenge / AssignmentLecture2.6
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Basic Bookkeeping Workshop Day 3 8
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Differences between Bookkeepers and Accountants.Lecture3.1
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Pre-Test Result Discussion (Principles on Accounting)Lecture3.2
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Account TypesLecture3.3
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Accounting CycleLecture3.4
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Step 1: Analysis Phase – Accountable FormsLecture3.5
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Step 2: JournalizingLecture3.6
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Practice/Assignment – JournalizingLecture3.7
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Day 2 ChallengeLecture3.8
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Basic Bookkeeping Workshop Day 4 5
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Accounting Cycle ReviewLecture4.1
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Step 3 & 4: Book of Final EntryLecture4.2
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Day 3: Challenge & RecapLecture4.3
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Types of Books of AccountLecture4.4
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Day 4: Challenge / AssignmentLecture4.5
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5 Comments
Considering the pandemic, it is best to register the books of accounts with BIR using the computerized accounting system so there will be less contact with anyone.
If I was given a chance to have a new business, my business will be a Real Estate Company and I will register a book of accounts such as a Cash Receipts Book, Cash Disbursements Book, General Journal, and General Ledger because these are important books for recording a transaction of the business and it is important for BIR submission.
If I am starting a new business in the year 2021, I believe it would be best for me to opt for maintaining Loose-Leaf Books of Accounts, out of the 3 types of Books of Accounts that needs to be registered with the BIR. During the time of COVID lockdowns, I understand that in most instances, the BIR cannot send representatives to examine the physical books of the business, but if I’m about to open a new business and use computerized books of accounts, the BIR would still have to examine and approve the actual computerized accounting system in-depth before I would be able to use it. Therefore, if I go with keeping Loose-Leaf Books of accounts, then during the financial year, I can use the computerized accounting system first to encode all my business transactions, and then at the end of the year when COVID restrictions are more relaxed, I can have the computerized books and ledgers printed out based on the BIR approved format, have them bound together, and submit the bound books physically to the BIR. That way, I would still be compliant with BIR regulations and have a physical copy of the books (since there’s still a risk that electronic ones would be lost), while minimizing physical contact and exposure while the pandemic is still ongoing
If I were the owner of a new business in the year 2021, the types of books of accounts that I will register with the BIR are the Loose Leaf Books of Accounts and the Computerized Books of Accounts. Having those two types of Book of Account during the pandemic is better for me and the BIR representatives. Also to avoid the spread of COVID-19, just in case.
I think the General Ledger book , because this book is referred to as the final entry book. This is where you will see the summarized journal entries of an account to get the reconciled balances. And we know that this book tracks your Assets, Liabilities, Owner’s capital, Revenues, and Expenses. Just like in pandemic time, you need to track all, for example travel history, so that at the end of your report it will be easy for you to summarize what you information you gathered, and solve it quick.