What you will be able to do
- Separate business and personal money and set up a chart of accounts that fits your business
- Record income and expenses consistently, keep the documents behind them and reconcile every account monthly
- Read a profit and loss statement and a balance sheet and explain what each says about your business
- Build and update a 13-week cash-flow forecast that shows shortfalls while you can still act
- Set payment terms, chase late invoices, put money aside for tax and decide when to bring in an accountant
Who it is for
- Owners of small businesses, sole traders and freelancers who do their own books or plan to
- New founders who want to understand the numbers before handing them to a bookkeeper
- Office managers and operations staff who have inherited the bookkeeping in a small team
Before you start
- No accounting background; basic spreadsheet skills such as entering a SUM formula are enough
- Access to your business bank statements and, ideally, a few months of receipts and invoices
- About two hours per week for four weeks
Curriculum
4 modules · 12 lessons · 3h 26m
Module 1Setting Up Clean Books3 lessons · 48 min
Separate business money from personal money, build a chart of accounts that fits your business, and record income and expenses the same way every time.
- Separating business and personal moneyWhy mixing money is one of the costliest bookkeeping habits, and the four steps to separate it cleanly.14 min · free preview · worked example · exercise
- Building a simple chart of accountsThe list of categories behind every report you will ever read, and how to keep it short enough to be useful.16 min · worked example · exercise
- Recording income and expenses consistentlyA weekly routine for getting every transaction into your books with the right date, amount and category.18 min · worked example · exercise
- Module quiz4 questions with explanations
Module 2Keeping the Books Accurate3 lessons · 50 min
Build a paper trail you can rely on, reconcile every account each month, and understand when income and costs are recognised.
- Receipts, invoices and the paper trailWhat a proper invoice contains, how to capture receipts so they never go missing, and how to keep them linked to your books.15 min · worked example · exercise
- Bank reconciliation, step by stepProve that your books match reality by reconciling every bank, card and payment account at least once a month.20 min · worked example · exercise
- Cash vs. accrual: when income and costs countThe two ways of timing income and expenses, what each tells you, and why the same month can look very different under each.15 min · worked example · exercise
- Module quiz4 questions with explanations
Module 3Reading Your Numbers and Looking Ahead3 lessons · 1h
Read a profit and loss statement and a balance sheet with confidence, then build a 13-week cash-flow forecast that shows problems before they arrive.
- Reading a profit and loss statementWalk down the P&L from revenue to net profit and learn the three margins that tell you most about your business.18 min · worked example · exercise
- Reading a balance sheetUnderstand what the business owns and owes on a given day, and the few checks that reveal whether it is financially sound.17 min · worked example · exercise
- Building a 13-week cash-flow forecastA rolling, week-by-week view of cash in and cash out that shows shortfalls early enough to do something about them.25 min · worked example · exercise
- Module quiz4 questions with explanations
Module 4Protecting Cash and Getting Help3 lessons · 48 min
Set payment terms that protect your cash, chase late invoices without damaging relationships, put money aside for tax and decide when professional help is worth it.
- Payment terms and chasing late invoicesSet clear terms before work starts, then follow a polite, consistent chasing sequence that helps you get paid sooner.18 min · worked example · exercise
- Setting aside money for taxTreat tax as money that was never yours: estimate it, move it to a separate account and avoid being surprised by a bill.16 min · worked example · exercise
- When to hire a bookkeeper or accountantKnow which tasks to keep, which to delegate, and how to get real value from the professionals you hire.14 min · worked example · exercise
- Module quiz4 questions with explanations
