Bookkeeping is the general name for the process of keeping a structured record of all financial transactions.
There are different ways in which these records can be kept – each with advantages and disadvantages:
|Easy to see and transport||Can be bulky|
|No specialist equipment||Relies on good arithmetic|
|Everything you do is visible||Not good if a high volume of transactions|
|Can use formulae to do calculations||Need some knowledge of Excel|
|Can produce a summary report by linking figures from the record||It can be hard to spot errors if you are not familiar with the spreadsheet or Excel|
|Can insert comments to explain cell entries||Cost of the software|
|Making changes can make the formulae change eg. Summing if you’ve inserted a row|
Help with bookkeeping and more...
A range of services provided by WYCAS (West Yorkshire Community Accounting Service) are available to help your organisation with its bookkeeping including:
- Bookkeeping: Good Practice Guides
- Spreadsheets for Finance: Good Practices Guide
- Spreadsheet Templates (see the first tool on the list: Cashbook with year end reporting - excel format)
- Starter Guides to Software Packages such as QuickBooks and Sage
To find out more contact WYCAS
”Excellent knowledge delivery! Very interesting training course!”
Baltica, about WYCAS's Basic bookkeeping course.