Level I Certificate in Basic Book-keeping

Your Ideal Schools course will consist of the following:

• 5 lessons with an assignment to be completed and submitted to your tutor for assessment at the end of each lesson. 
• You will be provided with suggested answers on successful completion of each assignment.
• Regular Progress Test & Answers throughout each lesson.
• Full tutorial support via phone or email.

Topics covered within this level are as follows:

BUSINESS DOCUMENTS
Design and produce purchase orders, sales invoices, credit notes and statements of account which include VAT and trade discount; Understand the basic law relating to contract, the sale of goods and the retention of documents; Understand the nature of different accounting procedures including a simple system for coding business data; Understand the need to have an authorisation system for ordering goods; Understand the need to have a systematic filing system for business documents as part of the general administration of a business; Understand the importance of using recognisable documents in a standard house style; Understand the various methods of ordering, e.g. fax, internet etc.

BOOKS OF ORIGINAL ENTRY
Explain why they are needed and from what source of information they are compiled; Explain the principles of the double-entry system and the functions of the books in this regard; Draw up books and enter transactions in them; Post them to the ledger accounts; Make opening journal entries from the items provided; Make journal entries for the purchase of fixed assets; Make journal entries for the correction of errors; Correctly set up and make entries In a two column cash book; Understand the importance of credit control within a business.

CREDIT CONTROL
Explain the importance of credit control ensuring that:
Payments are made on time.
Overdue debts are reviewed.

LEDGER ACCOUNTS
Explain their purpose; Explain the difference between capital and revenue items, and between real, nominal and personal accounts; Explain the significance of debit and credit entries in each of them; Make opening entries in them; Record the double-entry of transactions for capital and revenue items; Calculate and record their balances; Write off bad debts; Make correct entries for payroll transactions.

TRIAL BALANCES
Explain why they are needed; Explain the types of error that they will/will not disclose; explain the action to be taken in the case of non-agreement; correct the errors made in the posting of any transaction not involving the suspense account; prepare such trial balances.

SECURITY of DATA
Understand the basic principles of the Data Protection Act; understand the functions and services of banks; describe the treatment of cheques, direct debits, standing orders, credit transfers, giro credits, CHAPS, BACs, credit and debit cards; Use cheque books and paying in slips correctly.