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Manual Bookkeeping Workshop

One day Workshop

Keeping Records as a small Business Owner

Venue:                       Inishowen Development Partnership Office

Location:                  St. Mary’s Road, Buncrana, Inishowen.

Course Date:           Runs at various times throughout the year

Times:                       9.00 am (sharp) to 5.00 pm (subject to change)

Cost:                           €10 per person

Bring:                         Pen, Paper, Calculator and Lunch

(Tea/Coffee will be available)

Your success in business will depend on good record keeping practices and a solid cash flow.  Without good records it is simply impossible to determine the financial condition or profitability of your business.  As a small business owner you should be familiar with and recognise the importance of proper record keeping requirements and cash flow planning. When setting up a company, regardless of the size, there are requirements under the Companies Act regarding the maintenance of books and records.  It is important that you are aware of the legal requirements and ensure that you are able to produce the required information.

Accurate financial record keeping is crucial to your business for the following reasons:

  • To provide financial data that helps you operate more efficiently, thus increasing your profitability.
  • To identify all your business assets, liabilities, income and expenses. This information can then be used to compare with your sector’s averages and highlight your strengths and weaknesses.
  • Good records are essential for the preparation of your End of Year Tax Returns and Financial Statements. These statements are critical for maintaining good relations with your Bank and Revenue Commissioners.

Course Content:

Topic 1 – Good Documentation for Book Keeping

  • Invoicing – content, detail and VAT analysis where relevant.
  • Importance of source documentation to support good book keeping.
  • Fixed Asset Register.
  • Controlling and filing information in an organised and easily retrievable manner.
  • Minimum requirements of information needed to arrive at a basic Profit & Loss Statement.

Topic 2 – Cash Books and Bank Reconciliations

  • Cash Books – Basic money in and money out for those who do not need to record specific sales and purchases transactions.
  • Analysed Cash Books for money out for those who require more detail especially for budgeting and cash flow.
  • Petty Cash – Imprest System.
  • Bank Reconciliations.
  • Cheque writing and the current move to “electronic payments”.

Topic 3 – Sales

  • Recording Sales in more detail than in the basic money in and money out scenario.
  • Sales VAT.
  • Debtors Control.

Topic 4 – Purchases

  • Recording Purchases in more detail than in the basic money in and money out scenario.
  • Purchases VAT – need for differentiating between Purchases for Resale and Not for Resale.
  • Creditors Control.

Topic 5 – Cashflow / Budgeting

  • Debtors Control.
  • Creditors Control.
  • Cashflow management.

Topic 6 – Overview of  VAT Returns and Profit & Loss Calculations

  • Profit & Loss calculations.
  • VAT3 returns.
  • TR1 forms.
  • Overall summary of content covered during the one-day Workshop.


Please advise the Enterprise Officer of your interest and if numbers are sufficient this Workshop will run.