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Bookkeeping for Dummies, 3rd Edition

Release Date: 2020/10/01
ISBN: 9780730384731
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Take the stress out of bookkeeping with this bestselling guide! 

Warren Buffet has called accounting ‘the language of business’ – the less well you speak it, the less likely you are to succeed. But there’s no need to be intimidated: Bookkeeping for Dummies, 3rd Australian Edition is here to help make – and keep – you fluent. Whether you’re a small business owner who’s beginning to grapple with concepts and terminology, or a bookkeeping professional who wants to stay on track with the latest software or regulations, this bestseller will help you keep your business on the right side of the ledger.  

Written in friendly, easy-to-follow style by leading financial tech author and instructor Veechi Curtis, this comprehensively updated guide has you covered: from the basics—understanding the lingo and recording income vs. expenses—all the way to Cloud accounting and conforming to the latest BAS legal requirements.  

  • Master the essentials, from recording transactions to payroll 
  • Choose and use the right software 
  • Allocate difficult-to-code transactions more easily 
  • Pass certified courses with flying colours 

Whatever your needs, this practical guide will keep you out of the red and ensure all your numbers add up flawlessly – every time.  

 

Table of Contents

  1. Cover
  2. Foreword
  3. Introduction
    1. About This Book
    2. Foolish Assumptions
    3. Icons Used in This Book
    4. Where to Go from Here
  4. Part 1: First Steps
    1. Chapter 1: Introducing the Bookkeeping Game
    2. Understanding the Bookkeeping Life Cycle
    3. Figuring How Often to Do the Deed
    4. Staying on the Right Side of the Law
    5. Developing an Attitude
    6. Getting Skilled Up
    7. Chapter 2: Creating a Framework
    8. Putting Everything in Its Place
    9. Classifying Accounts
    10. Building Your Profit & Loss Accounts
    11. Seeing Where the Money’s Made
    12. Itemising Balance Sheet Accounts
    13. Building a Final Chart of Accounts
    14. Chapter 3: Going for the Big Equation
    15. Matchmaking with Debits and Credits
    16. Putting Theory into Practice
    17. Playing the Double-Entry Game with Accounting Software
    18. Choosing between Cash and Accrual
  5. Part 2: Forming a Plan
    1. Chapter 4: Playing a Bookkeeper’s Rhythm
    2. Reporting for GST
    3. Staying on Top of Payroll
    4. Generating Reports
    5. Devising a Record-keeping System
    6. Developing a Bookkeeping Calendar
    7. Chapter 5: Working with Accounting Software
    8. Getting into Gear
    9. Matching Software to the Job in Hand
    10. Setting Up Accounting Software
    11. Protecting Your Accounting Data
    12. Chapter 6: Understanding GST
    13. Coughing Up the Difference
    14. Signing Up (Do You Have a Choice?)
    15. Calculating GST
    16. Figuring What’s Taxed and What’s Not
    17. Understanding Tax Codes
    18. Staying Out of Trouble
    19. Dancing the Paperwork Polka
  6. Part 3: Recording Day-to-Day Transactions
    1. Chapter 7: Recording Expenses and Supplier Payments
    2. Creating Order Out of Chaos
    3. Working with a Micro Business
    4. Recording Expenses for a Small Business
    5. Bookkeeping for a Larger Business
    6. Allocating Transactions
    7. Nitpicking over Petty Cash and Out-of-Pocket Expenses
    8. Chapter 8: Recording Receipts and Sales
    9. Keeping Track of Sales and Payments
    10. Working on a Cash Basis
    11. Bookkeeping for Other Kinds of Income
    12. Bringing Home the Bacon
    13. Dealing with Tricky Situations
    14. Making Sure Cash Doesn’t Go Astray
    15. Chapter 9: Paying Employees
    16. Staying Squeaky Clean
    17. Hiring a New Employee
    18. Checking Minimum Pay and Conditions
    19. Getting to Pay Day
    20. Taking Leave
    21. Maintaining Proper Records
    22. Chapter 10: Reconciling Accounts
    23. Getting Started
    24. Doing Your First Reconciliation
    25. Keeping Proof that You’ve Done the Deed
    26. Troubleshooting Tricks
    27. Balancing Other Kinds of Accounts
  7. Part 4: Pulling It All Together
    1. Chapter 11: Reporting for Payroll
    2. Paying Tax and Super
    3. Ensuring You Pay the Right Amounts
    4. Calculating Other Payroll Expenses
    5. Finalising Pays at Year’s End
    6. Reporting for Taxable Payments (TPAR)
    7. Chapter 12: Managing Inventory and Other Assets
    8. Buying In, Stocking Up and Selling Out
    9. Organising Stocktakes
    10. Balancing Your Inventory Account
    11. Accounting for Assets
    12. Depreciating Assets, One by One
    13. Chapter 13: Mastering Tricky Situations
    14. Recording Journal Entries
    15. Plunging Into Debt
    16. Working with Hire Purchase, Leases and Chattel Mortgages
    17. Adjusting the Bottom Line
    18. Bringing Income into Line
    19. Chapter 14: Checking Your Work
    20. Starting with the Bank Accounts
    21. Spring Cleaning Your Debts
    22. Putting GST under the Griller
    23. Understanding Control Accounts
    24. Doing a Mini-Audit
    25. Chapter 15: Understanding Financial Reports
    26. Telling the Story with Profit & Loss
    27. Painting a Picture with the Balance Sheet
    28. Understanding the Relationship between Profit and Cash
    29. Putting Results under the Microscope
    30. Chapter 16: Starting a New Financial Year
    31. Finalising the Old Year
    32. Sending Data to Your Accountant
    33. Matching the Accountant’s Figures Against Your Own
    34. Bridging the Communication Gap
    35. Starting a New Year
  8. Part 5: Running Your Own Bookkeeping Business
    1. Chapter 17: Starting Up On Your Own
    2. Deciding Whether You’re Ready
    3. Thinking through the Practicalities
    4. Launching Your New Business
    5. Building a Successful Business
    6. Chapter 18: Staying on the Right Side of the Law
    7. Becoming a BAS Agent
    8. Acting Honestly and Independently
    9. Making Sure Information Is Correct
    10. Setting Up Systems
  9. Part 6: The Part of Tens
    1. Chapter 19: Ten Tips for Not-for-Profit Organisations
    2. Know and Love Your Cost Centres
    3. Become the Budget Queen
    4. Get the Terminology Right
    5. Report to the Board
    6. Get Help with Payroll
    7. Do Killer Grant Reporting
    8. Be Accountable at All Times
    9. Make Sure You Can Survive an Audit
    10. Track Membership Dues with Care
    11. Know When to use Trust Accounts
    12. Chapter 20: Ten Tricks for Collecting Money
    13. Draw Up a Credit Policy
    14. Do Your Homework
    15. Don’t Waste a Moment
    16. Calculate the Cost of Debts
    17. Get on the Blower
    18. Don’t Give Too Many Options
    19. Keep a Dossier
    20. Track ’em Down
    21. Stick to the Law
    22. Get Drastic
    23. Chapter 21: Ten Tips for Doing Your Books in the Shortest Possible Time
    24. Get Connected with Bank Feeds
    25. Create Bank Rules to Allocate Transactions Automatically
    26. Scan Receipts
    27. Create Recurring Transactions
    28. Integrate Everything
    29. Keep Personal Stuff Separate
    30. Learn to Use all Ten Fingers
    31. Set Up Your Accounting Software Properly
    32. Ditch Paper Records
    33. Make Customer Payments Easy
  10. Glossary
  11. Index
  12. About the Author
  13. Connect with Dummies
  14. End User License Agreement
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