Online accounting and bookkeeping classes offer flexibility and convenience, allowing you to learn at your own pace and on your own schedule.
Many online classes are self-paced, giving you the freedom to complete coursework and assignments whenever it suits you best.
Some online classes are even offered in a live format, allowing you to interact with instructors and other students in real-time, just like in a traditional classroom setting.
This flexibility is especially appealing to those with busy schedules or who live far from traditional classrooms.
Course Content
In an accounting and bookkeeping class, you can expect to learn about the fundamental skills and knowledge to begin an entry-level career in finance. You'll gain a foundational understanding of accounting principles and an introduction to QuickBooks Online through hands-on practice working with real-world accounting scenarios.
Some bookkeeping courses cover topics such as types of business transactions and how to document them, double-entry bookkeeping systems, and banking process and transactions. You'll also learn how to work through the phases of the accounting cycle to produce key financial statements.
You'll have the opportunity to practice interpreting and analyzing financial statements to make key business decisions. This includes learning how to use Microsoft Excel to organize and format data, including charts, formulas, and more complex tables.
Program Information
The Intuit Academy Bookkeeping program is a 4-course series that prepares students for a variety of jobs in public accounting, private industry, government, and non-profit organizations. This program is designed for detail-oriented individuals who are passionate about solving clients' problems.
You'll need to have access to spreadsheet software like Excel, Google Sheets, or Numbers for some activities in this course. No previous accounting or bookkeeping experience is necessary.
The program covers foundational bookkeeping concepts and accounting measurement, as well as how to work through the phases of the accounting cycle to produce key financial statements. You'll also learn how to interpret and analyze financial statements to make key business decisions.
The Intuit Academy Bookkeeping program is designed to help you pass the Intuit Academy Bookkeeping exam, which is a requirement for working as a bookkeeper at Intuit QuickBooks Live or in the field. Upon completion, you'll be qualified to apply for a position as a bookkeeper.
Alternatively, the Penn Foster Bookkeeping course is an 8-course program that covers fundamental skills and knowledge to begin an entry-level career in finance. This program includes courses on assets, liabilities, and owner's equity, payroll and wholesale accounting, computer applications in accounting - QuickBooks, and Excel for bookkeeping.
Here are the estimated completion times for the Penn Foster Bookkeeping course:
The cost of the Penn Foster Bookkeeping program is $1,039, which can be paid in installments of $59 per month, starting with a down payment of $39.
Basics
Bookkeeping is the practice of recording and tracking all the financial transactions of a business. Bookkeepers can summarize those records for stakeholders, invoice contractors, prepare tax returns, and pay bills.
Professionals in this field may be self-employed practitioners or work at bookkeeping firms that sell services to businesses including, but not limited to basic record keeping, tax return filing, and business strategy.
Some additional tasks that may fall under a bookkeeper’s role include:
- Data entry
- Calculating pay and deductions
- Bank reconciliation
- Accounts payable
- Training staff to maintain financial records
- End-of-year financial reporting
Bookkeepers also help businesses strategize by providing accurate indicators of measurable success, and make filing taxes quicker and easier.
A bookkeeper's role requires strong organizational and analytical skills, as well as the ability to work accurately and efficiently with numbers.
To become a bookkeeper, you'll typically need to complete a course or certification program, such as the Intuit Academy Bookkeeping program, which covers topics like accounting principles, QuickBooks Online, and financial statement analysis.
Some common topics covered in bookkeeping courses include:
- Types of business transactions and how to document them
- Double-entry bookkeeping systems
- Banking process and transactions
- Managing and calculating payroll
- Maintaining ledger accounts
- Understanding bank reconciliations
These topics will provide you with a solid foundation in bookkeeping and prepare you for a career in this field.
Assets
Assets are a crucial part of a business's financial landscape, and understanding what they are and how they work is essential for any entrepreneur or accountant.
Assets can be categorized into several types, including current assets, non-current assets, and intangible assets. Current assets, such as cash and inventory, are expected to be converted into cash within one year or less.
In a typical business, inventory is a significant asset that requires control to ensure its accuracy and prevent losses. Proper control over inventory helps prevent overstocking, which can lead to waste and decreased revenue.
Depreciation expense is reported on an income statement as a non-cash expense, which means it's not a direct result of a transaction but rather a reduction in the value of an asset over time.
To understand how transactions affect a business's assets, let's consider an example: when a company purchases new equipment, its assets increase, and its liabilities increase by the amount of the purchase price. This change in the accounting equation is recorded as an increase in assets and an increase in liabilities.
Here's a breakdown of the common types of assets a business may have:
- Current assets: cash, accounts receivable, inventory, and prepaid expenses
- Non-current assets: property, plant, and equipment, and intangible assets
- Intangible assets: patents, copyrights, and goodwill
Certificate Details
The certificate details of accounting and bookkeeping classes can vary depending on the program. Some programs, like the Intuit Academy Bookkeeping program, offer a 4-course series that prepares you for a variety of jobs in public accounting, private industry, government, and non-profit organizations. This program covers foundational accounting principles and introduces you to QuickBooks Online through hands-on practice.
You'll need to complete the program to be qualified to apply for a position as a bookkeeper at Intuit QuickBooks Live or anywhere in the field. The estimated completion time for this program is not specified, but it's mentioned that you'll need access to spreadsheet software for some activities.
Another program, offered by Penn Foster, provides 8 courses with 29.1 continuing education units (CEUs) and 14 exams. You'll also need to submit 3 projects as part of the program. The estimated completion time for this program is 6 months for the fast track and 12 months for the average track.
Here's a comparison of the two programs:
Both programs offer a valuable credential that can help you showcase your key skills and knowledge in accounting and bookkeeping.
Career and Jobs
With an accounting and bookkeeping class, you can prepare yourself for a variety of jobs in finance. You can become a bookkeeper for public accounting, private industry, government, and nonprofit organizations.
Bookkeeping responsibilities can vary depending on experience, education, and the industry you work in. You might work as an in-house bookkeeper for a company, handle a subset of the overall bookkeeping workload, or be the only bookkeeper on staff for a smaller business.
Some potential bookkeeping jobs include bookkeeper, accountant, accounts receivable analyst, office assistant, payroll processing manager, budget analyst, and chief financial officer. However, having bookkeeping experience or knowledge doesn't automatically qualify you for these roles – specific degrees or training may be required.
Here are some examples of bookkeeping career outcomes:
- Bookkeeping Clerk: AVG SALARY* $45,860/yr
Keep in mind that licensing and certification requirements for bookkeeping jobs vary by state, so it's essential to research the requirements for the state where you plan to work.
Job Opportunities with This Certificate
With this certificate, you'll be prepared to become a bookkeeper for various industries, including public accounting, private industry, government, and non-profit organizations. You'll have the skills to work in entry-level positions in finance.
Bookkeeping jobs can vary depending on your experience, education, and industry. For instance, someone with a bachelor's degree can work as an in-house bookkeeper for a company, handling a subset of the overall bookkeeping workload.
You can expect to earn around $45,860 per year as a bookkeeping clerk, according to some sources. However, salaries may vary depending on the industry, location, and employer.
Some bookkeeping jobs may require specific degrees or training, such as accounting or analysis. But with this certificate, you'll gain a foundational understanding of accounting principles and be ready to take the Intuit Academy Bookkeeping exam.
Here are some potential bookkeeping careers and their average salaries:
- Bookkeeping Clerk: $45,860/yr
- Billing and Posting Clerk: $41,370/yr
- Accountant: varies
- Accounts Receivable Analyst: varies
- Office Assistant: varies
- Payroll Processing Manager: varies
- Budget Analyst: varies
- Chief Financial Officer: varies
Keep in mind that salaries and job requirements may vary depending on the industry, location, and employer.
Auditing Clerks
As an Auditing Clerk, your main responsibility is to check the accuracy of financial figures and calculations. This involves verifying the work of other workers who record business transactions.
You'll likely spend most of your time reviewing financial records and reports to ensure they're accurate and complete. This may involve checking numbers, calculations, and postings for errors.
Auditing Clerks typically work in an office setting, often in a quiet and organized environment. They may work independently or as part of a team to achieve their goals.
Their work is crucial in maintaining the integrity of financial records and preventing errors that could lead to financial losses.
Frequently Asked Questions
How much does a bookkeeping course cost?
The cost of a bookkeeping course is approximately $160 USD, based on a 4-month completion time with less than 4 hours of learning per week. Cost may vary depending on individual completion pace.
Can I learn accounting in 3 months?
Yes, you can learn basic accounting concepts in 3 months with consistent self-study of 10-15 hours per week. This timeframe allows you to grasp fundamental concepts, understand financial statements, and learn bookkeeping basics.
What qualifications do I need to be a bookkeeper?
To become a bookkeeper, you typically need GCSEs in maths and English at grades 9-4 (A*-C) and an A-level in business studies, maths, or economics, or equivalent qualifications. Having these qualifications can give you a strong foundation for a career in bookkeeping.
Sources
- https://continue.austincc.edu/accounting
- https://www.coursera.org/professional-certificates/intuit-bookkeeping
- https://www.scottsdalecc.edu/degrees-certificates/business-entrepreneurialism-and-management/certified-bookkeeping-5977n-ccl
- https://www.edx.org/learn/bookkeeping
- https://www.pennfoster.edu/programs/business/bookkeeping-career-diploma
Featured Images: pexels.com