BEGINNER BOOKKEEPING
Build the bookkeeping knowledge you need before and during your practice workdays.
These lessons explain the concepts used throughout the simulator. You can study them in order or open a lesson whenever you need help during practice.
COURSE
10 lessons · Greenway Cleaning Services LLC
Understand what bookkeeping is, what a bookkeeper records, and why accurate financial records matter.
Learn how Assets, Liabilities, and Equity fit together in the accounting equation.
Use DEALER to understand which account types normally increase with debits and which increase with credits.
Learn how businesses organize Assets, Liabilities, Equity, Revenue, and Expenses into financial accounts.
Understand the difference between paying for something now and recording an amount the business will pay later.
Learn what happens when a business earns revenue now but the customer will pay later.
Record money received from customers without accidentally recording revenue twice.
Understand vendor bills, Accounts Payable, due dates, and what happens when a bill is eventually paid.
Learn the difference between money the owner puts into the business and money the owner takes out for personal use.
Learn why bookkeeping records are compared with bank records and how differences are identified.