Videos & Notes | Legal Bookkeeping Hub

Video Tutorials & Legal Bookkeeping Notes

Double Entry Bookkeeping Transactions

Bookkeeping entries – What is a transaction? What is bookkeeping? Double entry bookkeeping concept,

Source documents – What are source documents and examples of those?

Cash and non-cash transactions – Distinguish between the two,

Journal entries – What is a Journal Entry? When is a Journal entry required? How is a journal entry processed? Examples of Journal entries, Types and uses of various Journal Entries – Fees Journals, General Journal, Trust Journals, Transfer Journals, Practical Examples,

Ledger – What is a Ledger? Types of ledger accounts- Business Debtors’ Ledgers accounts, Trust Creditors’ Ledger accounts – extracting a list of trust creditors, Cash Books, Petty Cash, posting to a ledger, calculation of ledger account balance, Double Entry Bookkeeping related questions.

Trial Balance – Preparation of a trial balance, balancing of a trial balance,

Financial Statements – Income Statements, Statement of financial position,

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Correspondence Transactions

Instructing Correspondent Transactions – Trust Ledger, Business Ledger, Business Cash Book, Trust Cash Book, Fees Journal, Trust Journal, Transfer Journal, VAT OUTPUT, Fees Account, Accounting Statement, Collection Commission, Allowances, Summary Statement, Practical Examples.

Instructed Correspondent Transactions –Trust Ledger, Business Ledger, Business Cash Book, Trust Cash Book, Fees Journal, Trust Journal, Transfer Journal, VAT OUTPUT, Fees Account, Accounting Statement, Collection Commission, Allowances, Summary Statement, Practical Examples

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Conveyancing Transactions

Conveyancing Transactions – Trust Ledger, Business Ledger, Business Cash Book, Trust Cash Book, Fees Journal, Trust Journal, Transfer Journal, VAT OUTPUT, Fees Account, Accounting Statement, Collection Commission, Allowances, Summary Statement. Practical Examples.

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Investments Transactions

Investments Transactions – Bookkeeping procedures, Sections 86(2), Section 86(3), Section 86(4) Section 86(5)(a), Section 86(5)(b) Investments, Fidelity Fund, Practical Examples.

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Bank Reconciliation Statements

Supplementary Cashbooks and Bank Reconciliation Statements – what is a Supplementary cashbook? Business and Trust Cashbooks, Bank Statements, Procedures or process followed when preparing the Bank Reconciliation Statements, reasons for preparing Bank Reconciliation Statements, Reconciling Items, Practical Examples.

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