Practical Accounting Training

Allround Accounts Solutions Practical Accounting Training program is designed for students who are new accounting graduates, never have had any accounting practical expense or have some AP, AR experience can understand and master “Full Function” practical accounting skills, knowledge within a short period time, using real business world material that has created in house for the students. The accounting software we use for the training is MYOB AccountRight. The training topics cover small to medium sized businesses use MYOB AccountRight software, allow students gain skills that can handle all-round accounting responsibilities in all sized business environment.

The training program uses real business world material all the supporting documents are inter-related and finishing at the end of month by completing bank reconciliations, month-end adjustments such as Prepayment, Accrual. Once all is done closing monthly accounts, after having done the above month cycle, you don’t need to do internship work as if you were working as an accounting role in the business.

The training guides you from set up company, transferring data from old system (closing balance) to the new accounting software (opening balance), how to correctly record transactions, how each and every transaction entered will affect the financial statements, to month-end and year-end adjustments, and how to interpret company financial statements after month-end is done, to find the mistakes of the financials and how to fix them. The financials with mistakes will be supplied in the class and teach you how to find them and fix them. After completing the training, the students should be able to independently use MYOB and other accounting software to record transactions of business from the start to the end, as I will teach you the tricks and tips, similarities and differences of different software so you know how to operate the different accounting software in real business world.

After completing the training you will have solid practical accounting knowledge enables you to find a positions ranging from Accounts Receivables, Accounts Payables, Bookkeeper, Payroll Officer, Accounts Allrounder, Assistant Accountant and Accountant, salary can be up to 70K.

The components of Accounting Practical training are as follows:

  • Commercial Accounting Practical Skills and Knowledge: 5-6 sections 30 hours

Use MYOB AccountRight I will guide you through one month transactions from beginning to the end as if you were working in the real business environment. After completing bank reconciliations, you will be taught how to start month-end procedures, month-end adjustments, Balance Sheet reconciliations, Profit and Loss analysis, close of the monthly accounts, supply financials.

  • Commercial Accounting Practical Skills and knowledge: 1-2 sections 6 hours

You will be provided  financial statement with mistakes and teach you how to realise the errors and how to fix them, and how the financials will be affected before and after the fixing.

  • Resume and Cover Letter

Guide you how to write a winning cover letter and resume and win the chance of interview opportunity

  • Interview Techniques

Teach you interview techniques, how to prepare for the interview, what kind of questions will be asked in the interview process, one to one role play so that you can stand out from the crowd and land a position.

The topics cover in the training are as follows:

  • Down Load MYOB AccountRight Software from Internet
  • Go Through MYOB AccountRight Command Centre
  • Explain functionalities of Each and Every Tabs on the Command Centre
  • Set up Chart of Accounts
  • Enter Opening Balances Data into System
  • Accounts Receivables
    • Trade Credit Account Application Procedures
    • Trade Credit Account Application Reference Check
    • Set Up Customers Accounts Details
    • Sales Discount Term
    • Enter Sales Invoices (Different Tax Code Sales)
    • Email Sales Invoices to Customers
    • Apply Receipts to Invoices
    • Enter Sales Credit Notes
    • Apply Credit Note to Sales Invoice
    • Part Payment
    • Deposit Payment Made by Cheque (Old Method)
    • How to Deal with Payment if It is Different Amount to The Invoice Amount
    • The Relationship Between AR, P/L and Balance Sheet What to Do and What No to Do
    • Email Statements to Customers
    • Debtor Collections Procedures
  • Accounts Payables
    • Payment Term and Discount Term
    • Set Up Suppliers Details (Update Existing Supplier Details)
    • Enter Purchases Invoices (Different Type of Invoices)
    • Enter Purchases Credit Notes
    • How to Deal with Part of Credit Notes
    • Store Suppliers Invoices Electronically – in MYOB AccountRight
    • Prepare Electronic Payments (Pay Multiple Suppliers)
    • Types of Payment
    • Cheque Payment (Old Method)
    • Apply Payments to Purchases Invoices
    • The Relationship Between AP, Profit & Loss and Balance Sheet
    • Email Remittance Advices to Suppliers
    • Reconcile Suppliers Statements with Recorded Transactions
    • What to Do if Statement Amount Doesn’t Agree with Aging Report
  • Payroll
    • Set up Payroll Year
    • Upload Payroll Tax Table
    • Relationship between Payroll, Profit & Loss and Balance Sheet
    • Set up Payroll Accounts and How They are Related to P/L and B/S
    • Types of Employment
    • Leave Entitlements and Leave Accrual Calculations
    • Leave Loading
    • Overtime
    • Allowances (MV Allowance, Travel Allowance and Industrial Allowance)
    • Deductions Category and How It Is Linked to Financial Report
    • Payroll Categories
    • HELP Debt
    • Superannuation Guarantee & Salary Sacrifice and How They Are Related to P/L and B/S
    • SGC and Sal. Sac and The Relationship with P/L and B/S
    • Set Up Employee Payroll Details
    • Documents for New Employee
    • Process New Starters
    • Process Fortnightly Payroll with Timesheets and Monthly Payrolls
    • Termination Pay
    • PAYG Withholding
    • Payroll Tax
    • Process Quarterly Superannuation
    • Workers Compensation
    • Privacy and Confidentiality
    • STP – Single Touch Payroll
    • Prepare Payment Summaries (N/A after STP)
  • GST
    • GST Reporting Basis: Accrual and Cash
    • Difference between Accrual and Cash and How they Affect Financial Statement
    • Relationship between GST and Financial Statements
    • GST Reconciliations
    • Documents for GST Lodgement
    • Process and Lodge IAS and BAS
    • Record General Journal
  • Inventory
    • Add New Inventory account for Income, COGS
    • Register New Items as Per Supplier Invoice
    • Enter Purchases Order
    • Enter Purchase Invoice
    • Manage/Adjust Inventory
  • Banking
    • Bank Feed
    • Receive Money
    • Spend Money
    • Bank Register
    • Credit Card Reconciliations (AMEX)
    • Bank Reconciliations
  • Month-End Procedures
    • Prepayment, Accrual
    • Balance Sheet Reconciliation for Asset Accounts
    • Balance Sheet Reconciliation for Liability Accounts
    • Month End Reporting
    • Profit & Loss Analysis
    • Close off monthly accounts
  • Find Transactions
  • Go through Ledger Accounts
  • Prepare Financials to Trial Balance
  • Provide Your Financials with Mistakes, Why and How to Fix Them
  • Resume and Cover Letter Advice
  • Interview Techniques

The cost of the training is $1,499.00. You are encouraged to have one hour free lesson before deciding if you wish to continue with the training program. Please complete the form on the right hand side of Home or Contact page, select Training from the drop down manual, or Email me for further details.