LRN0178 - General Ledger and Month End Procedures
Course Description
In this course, you will learn how to post journal entries to the correct general ledger accounts impacted by each transaction. This course will show you how to make sure your general ledger balances at the end of each month by preparing an unadjusted trial balance. You will learn how to look for errors when you don’t balance, and how to determine to correct entries. After posting correcting entries and/or adjusting entries, you will verify debits and credits equal with an adjusted trial balance. This course also goes through the steps of performing monthly bank reconciliations.
Note: This course is part of a Digital Badge for those who wish to earn a credential. You may register for this individual class, but if If you would like to earn the Digital Badge, register for LRN0176- Online Self-Paced Bookkeeping Digital Badge.
Course Outline
Unit 1
The General Ledger
What is the General Ledger
Why must the general ledger balance
Posting to the general ledger
Activity ~ Posting to The General Ledger
Unit 2
The Unadjusted Trial Balance
What is the unadjusted trial balance
Verify debit and credit balances
Finding errors
Activity ~ Find The Errors
Unit 3
Correcting Entries and Adjusting Entries
Determine correcting entries
Adjusting entries and how to prepare them
Posting correcting entries and adjusting entries to the general ledger
Activity ~ Preparing Entries and Posting to General Ledger
Unit 4
The Adjusted Trial Balance
Verify the accuracy of the adjusted trial balance
Prepare monthly bank reconciliations
Activity ~ Prepare a Bank Reconciliation
About Your Instructor:
Sharon deFonteny has a degree in Business Education with a concentration in Accounting and spent many years in Corporate America working in Accounting and Finance. For the past 5 years, she has created and taught online Business courses for Bucks County Community College. Her experience in business, as well as experience in teaching, has allowed her to help people understand the Accounting and Finance process.
Learner Outcomes
Course Outcomes
Upon completion of this course, you will be able to:
· Post journal entries to the general ledger accounts
· Prepare an unadjusted trial balance
· Prepare any necessary correcting entries and adjusting entries
· Prepare an adjusted trial balance to verify general ledger balances
· Perform monthly bank reconciliations
Notes
Course Objectives
Students will understand the purpose of the general ledger and how to verify its accuracy.
· Students will learn how to find errors and determine the correcting entries.
· Students will understand each step necessary to the month end procedures.
· Students will be able to perform monthly bank reconciliations.
Applies Towards the Following Digital Badges
- Bookkeeping Digital Badge : Bookkeeping Digital Badge