Bookkeeping for Dummies, 3rd Edition

Book description

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

Product information

  • Title: Bookkeeping for Dummies, 3rd Edition
  • Author(s): Veechi Curtis
  • Release date: October 2020
  • Publisher(s): For Dummies
  • ISBN: 9780730384731