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Understanding The Basics Of Bookkeeping
5.0( 13 REVIEWS )
4h 29m

This course is designed for those interested to learn the basics of bookkeeping in an easy to understand terms and concept.

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Course Skill Level
Time Estimate
4h 29m


15+ years teaching college and 25+ years coaching business owners brings Ron to the forefront helping students learn using using simple, easy language

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About This Course

Who this course is for:

  • This course is designed for both new and established small business owners and managers who may be strong in their own fields but want a better understanding of the basic concepts of tracking their company finances as well as students beginning the journey of learning bookkeeping.
  • A stronger grasp of these basic concepts helps every area of business from communicating with their CPA’s/tax advisors to making better decisions for the company and employees; to students learning to communicate with their instructors.

What you’ll learn: 

  • What is Income and how do you track it?
  • Which types of Expenses can be claimed by your business
  • The difference between Assets, Liabilities and Equity
  • The Five W’s of Bookkeeping
  • Transactions, The Fundamental Financial Equation and Charts of Accounts
  • Accounts Receivables and Accounts Payables
  • Reading Financial Reports
  • Business Odds and Ends such as Mileage Tracking, Credit Terms, Shipping and Freight, Trade Discounts
  • The Top 10 Mistakes Small Businesses Make
  • The Top 6 Tips for Good Bookkeeping


  • As long as you know how to add and subtract (or can use a calculator!), you’re ready to begin!

It takes a lot to be able to understand how to run a business. Whether you’re the owner, an employee or even a student trying to understand how everything works.  You may have a full range of talent in your specific field, but that doesn’t mean you’re strong in every area of running a business.  And that’s how this course approaches the material.

Using simple, easy-to-understand discussion, along with full color illustrated note sheets and samples, this course with over 50 video lessons teaches you the basic fundamentals of how money is tracked and what that means to your business or project.

The course provides beginners understanding of the basic concepts using everyday examples along with common phrases and terms to teach that “other language” of bookkeeping and for you to feel more confident in working with vendors, customers, employees, investors, instructors and more!

Our Promise to You

By the end of this course, you will have learned the basics of bookkeeping.

10 Day Money Back Guarantee. If you are unsatisfied for any reason, simply contact us and we’ll give you a full refund. No questions asked.

Get started today and learn more about the basics of bookkeeping.

Course Curriculum

Section 1 - Course Introduction
Introduction – Course Overview 00:00:00
Introductions And Off – Course Resources 00:00:00
Downloadable Materials 00:00:00
Section 2 - Money And Its Relationship To Business
Before We Start – Business Vs. Personal 00:00:00
Why Worry About The Money? 00:00:00
What Kind Of Business Are You? 00:00:00
The Four Business Types 00:00:00
Section 3 - Let's Understand What We're Talking About
What And Why 00:00:00
Who 00:00:00
When And Where 00:00:00
Consistency Is The Key 00:00:00
Section 4 - The Tools
Section Intro 00:00:00
Transactions 00:00:00
The Big Equation: A = L + E 00:00:00
Accounts And The Chart Of Accounts 00:00:00
Sample Charts Of Accounts 00:00:00
Bookkeeping Basics: Understand the Fundamentals Unlimited
Section 5 - Here Comes The Money - Income And Revenue
How Are You Actually Making Money? 00:00:00
Invoices, Receipts And Statements 00:00:00
If You Are Invoicing 00:00:00
Invoice Samples 00:00:00
Not All Money Coming In Is Income 00:00:00
Bookkeeping Basics: Understand the Fundamentals Unlimited
Section 6 - There Goes The Money - Expenses
What Are Expenses? 00:00:00
What Does It Cost To Make or Acquire The Product? – COGS 00:00:00
Organizing The Expenses 00:00:00
The Stamp 00:00:00
Bookkeeping Basics: Understand the Fundamentals Unlimited
Section 7 - The Other Big Three
Section Intro 00:00:00
It’s Just “Stuff” – Assets 00:00:00
Can You Break A $100 Bill? – Asset Shift 00:00:00
The Company Owes What? – Liabilities 00:00:00
But What’s Really Mine? – Equity 00:00:00
Bookkeeping Basics: Understand the Fundamentals Unlimited
Section 8 - Who Owes Whom?
Put It On My Tab – Accounts Payable 00:00:00
You Want To Pay When? – Accounts Receivable 00:00:00
What If They Don’t Pay? 00:00:00
Section 9 - For The Record Books
How Are You Doing And How Do You Know? 00:00:00
Cash Reporting Versus Accrual Reporting 00:00:00
Am I Making Profit? – P And L Report 00:00:00
Where Do I Stand Right Now? – The Balance Sheet 00:00:00
Am I Worth Anything? – The Owner’s Equity Reports 00:00:00
What’s Owed To Me and By Me – The A/P and A/R Reports 00:00:00
Bookkeeping Basics: Understand the Fundamentals Unlimited
Section 10 - Odds And Ends
Introduction 00:00:00
Mileage Tracking 00:00:00
Terms And Cash Discounts 00:00:00
Trade Discounts 00:00:00
Shipping And Freight 00:00:00
Good Record Keeping 00:00:00
Top 10 Mistakes Small Businesses Make 00:00:00
Top 6 Tips For Good Bookkeeping 00:00:00
Section 11 - So Now What?
Can I Get Some Help and Our Course Recap 00:00:00

Course Review


13 Ratings
  1. Anonymous

    Understanding The Basics Of Bookkeeping


    Ron is very knowledgeable and professional. He provided a lot of information to get your organized and setup for book keeping for your business.

  2. Anonymous

    He explains everything in Layman's Terms and teaches how to apply each concept to your business


    I’ve taken a couple of other bookkeeping courses in the past, but they weren’t great as they glossed over too many things. After seeing the reviews for Ron’s courses, I thought this would be a great place to start back again for a good overall understanding before tightening up my knowledge with courses specifically for professional bookkeeping. I like that Ron explains everything in Layman’s Terms and appreciate that he is very responsive in the group. He quickly (within 24 hours) and thoroughly helped me with the one part I got stuck on in this course. I like that there were self-test quizzes at the end of almost every section (in the downloads) and the answer key tells you exactly which lesson(s) covered each question. The quizzes showed me where I didn’t understand one or two things completely, so I went back to those lessons to catch what hadn’t sunk in for me the first time. I also like how with every lesson, there was a “Project” which gets you to think about how to apply each concept to your business, so your understanding isn’t just abstract. I’m very happy with what I learned in this Basics of Bookkeeping course and the next course (Mechanics of Bookkeeping) and am about to begin Ron’s 3rd course (QB Desktop Fundamentals) in his 4-course Basics of Bookkeeping series.

  3. Anonymous

    Much Needed information


    This course was so helpful!! It broke down things I need to really consider when collecting information and some information I never knew I needed to keep track of and why!

  4. Anonymous
    BARBARA CARRAROJULES April 22, 2022 at 12:26 PM



    I thought that bookkeeping was way more complicated and never approached the matter. Now I understand that with a little guidance is not that scary anymore!

  5. Anonymous

    Understandable in plain language


    Thank you, it cleared a lot of points I was having problems with. Very educational.


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