BOOKKEEPING

Bookkeeping

The part of accounting which deals with the recording of actual transactions in monetary terms, excluding the calculation of transactions.

(a)    Write up your accounting records

(b)    keep the records of receipts, payments and balances;

(c)    reconcile the balances monthly with the bank statements;

(d)    post and balance the purchase and sales ledgers;

(e)    extract a detailed list of ledger balances; 

(f)    prepare details of the annual stocktaking and work in progress, suitably priced and extended in a form which will enable us to verify the prices readily by reference to suppliers’ invoices;

(g)    complete the postings to the nominal ledger; and

(h)    prepare the accounts for approval by yourselves.