ONCE1160 - 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.
This online self-paced course is offered through partnership with LERN/UGotClass
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
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
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.
Notes
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.
The Bookkeeping Certificate courses must be taken in the below order (the classes build off each other):
- Understanding Debits and Credits
- General Ledger and Month End Procedures
- Closing Procedures and Financial Statements
Applies Towards the Following Certificates
- Certificate in Bookkeeping : Certificate in Bookkeeping (Online)