STUDY IN YOUR OWN TIME

The comprehensive Basic Business Accounting Self-Study Package will allow you the opportunity to expand your knowledge at your own pace!

This package includes 8x self-study courses, complete with comprehensive recorded content & practical notes to assist the learner to understand various aspects of business accounting effectively.

All persons involved in business, should have a solid understanding of the basic and fundamental business accounting concepts. As an example, understanding of how Financial Statements are compiled, and how to use the information contained within these statements, are to your advantage. Accounting savvy is vital to ensure a business is on-track to being profitable, with important money milestones being set and met.

Whether you are a business owner, bookkeeper, financial clerk, in the finance department or a manager with growing exposure to your business’s books, the Basic Business Accounting self-study package is ideal for anyone who wants a boost in how to effectively run a business, by understanding how the books of account work.

The below self-study courses contain comprehensive recorded content & practical notes to assist the learner to understand all aspects of running a business effectively:

BASIC BUSINESS BOOKKEEPING

• Basic Bookkeeping and Accounting Terminology
• Why you need Bookkeeping
• Accounting Cycle
• Source Documents, Books of First Entry
• Chart Of Accounts
• Audit Trails
• Trial Balance
• Reconciliations
• Month/Year End Close of Process
• Annual Financial Statements (AFS)

ACCOUNTS PAYABLE PROCESSING

• Why is Account Payable important, and how it adds value to your business
• Key Accounts Payable Controls
• Processes, systems and procedures
• Organizational Accounts Payable Policy
• Year-end reporting requirements
• Methods of ensuring consistency with your Accounts Payable functions
• Processing Methods
• Accounts Payable management reporting tools
• Data Capture, workflow processes and document control management
• Electronic invoices, purchase orders and shipping documentation
• Transactions from initiating purchase order to completing invoice payment
• Simplifying standard internal procedures
• Accruals & Provisions - to effectively use methods during close-off periods
• Streamline management reports and reducing unnecessary information
• Year-end close-offs & the importance of a check list
• Reconciling your Accounts Payable accounts
• How to prevent duplicate payments
• How to reduce unallocated payments
• Your filing system - ensuring your information is ready for your auditors
• Vendor information you are required to have
• Procurement policies and procedures with overview

COMPANY COMPLIANCE

• Department of Labour – When and How to register and for what
• UI-8 – What this form is for and what to do with it
• UI-19 – What this form is for and what to do with it
• Staff Files – Relevant documents needed to keep in a staff file
• Staff Payslips – When to supply an employee with a payslip and what information is needed to include
• Salaries & Wages – How to calculate pro rata salary, bonus, leave and sick leave
• Staff Leave – How staff leave works and how to calculate unpaid leave
• Leave – How annual leave works and how to calculate to pay out
• CIPC – Annual return requirements and how to ensure that the company does not get deregistered because of failure to renew
• Personal Income Tax – The company’s responsibility in terms of staff personal income tax as well as informing staff of their responsibility to submit their own income tax
• Workmen’s Compensation – When to register for Workmen’s compensation, and how it works.
• PAYE, UIF & SDL – Relevant deductions from staff salaries and submissions to SARS. (EMP201 Submissions)
• IRP5’s and IT3’s – Issuing of IRP5’s and IT3’s and when required (EMP501)

PAYROLL

• Definitions
• Tax Tables, Rates & Rebates
• Exemptions - Individuals
• Deductions - Employees
• Deductions - Retirement
• Fringe Benefits
• Subsistence Allowance
• Travel Allowance
• Deductions - Travel Expense
• Youth Employment Incentive (ETI)
• Relocation of Employee
• Wear & Tear Allowance
• Skills Development Levy
• IRP5 and IT3 Certificates - Source Codes
• Bursaries / Tuition Fees
• Independent Contractors
• Salary Sacrifice
• Medical Aid Rebates
• Retirement / Pension / Provident Fund Contributions

DEBT COLLECTION MANAGEMENT

• The importance of Working Capital & Cashflow - When is a Sale really a paid Sale?
• The importance of Risk Assessment – How to choose clients
• The implementation of a Credit Policy - How to treat clients
• Communication styles to be used with Customers - How to communicate with clients
• Letters of Demand & Repayment plans - How should clients respond
• How to Measure the effectiveness of your Debt Collection – Are all possible steps being implemented to collect outstanding monies due to your business?

VAT EXPENSE DEDUCTIONS

• Entertainment
• Business Travel
• Accommodation
• Fringe Benefits
• Staff Expenses
• Insurance Indemnity
• Management Fees
• Cost recoveries and on-charges
• Foreign Services
• Marketing Events
• Goods previously owned or used
• Mixed Supplies
• Office Furniture used by staff
• Motor Vehicles and conversions
• Subsistence Allowance VS Travel Reimbursement
• Bad Debts and Bad Debts Recovered
• Discount allowed and received
• Trade Discounts

BASIC UNDERSTANDING OF FINANCIAL STATEMENTS

• Introduction to Financial Statements and the importance thereof
• Statement of Comprehensive Income
• Statement of Financial Position – Balance Sheet
• Cash Flow Statement
• How to read Financial Statements
• Practical Examples and Calculations

MANAGE CASHFLOW & PROFIT

• Part 1: Introduction to profit and cash flow - why they are so important
• Part 2: Converting sales into profits
• Part 3: Converting profits into cash
• Part 4: Summary and exercise

All Included:

• Video presented courses
• Downloadable course material
• Certificates of training
• Assessments (optional)
• SAIT Accredited (Verifiable CPD Points)