Bookkeeping to Trial Balance

Duration: 12 weeks (Saturday morning or Mon & Wed evening classes)

This Institute of Certified Bookkeepers (ICB) “Bookkeeping to Trial Balance” module, presented at Unigrad College, is part of the National Certificate in Bookkeeping (NQF Level 3) as well as the National Diploma in Technical Financial Accounting (NQF Level 5). It will introduce you to source documents, Value Added Tax (VAT), the rules of double entry, subsidiary journals, the general ledger, trial balance, bookkeeping for the different inventory systems, as well as bank and creditors reconciliations. It will also empower you with the skills required to be an Accounts Clerk (the individual who processes monthly financial transactions) and to perform the Debtors and Creditors Clerk functions.

Module outline

  • Introduction to business, bookkeeping and accounting
  • Double entry accounting system
  • Users and uses of financial information
  • Different forms of business
  • Accounting equation and the business entity rule
  • The general ledger
  • Value added tax (VAT) and source documents
  • VAT supply categories
  • Payments vs. the invoice basis, source documents and VAT calculations
  • Recording cash transactions
  • Cash journals and posting to the general ledger
  • Listing general ledger account balances on a trial balance
  • Recording credit and sundry transactions
  • Subsidiary journals for credit and sundry transactions
  • Inventory systems (perpetual and periodic)
  • Individual accounts for debtors and creditors and the control account system
  • Bank reconciliation process
  • Supplier and general ledger reconciliations