Many enter a career in finance because they enjoy working with numbers. But some people may feel intimidated when it comes to math and calculations. The good news is, bookkeeping isn’t rocket science. You don’t always have to have a knack for computing numbers and data to enter a career in finance.
Gone are the ancient days when an abacus is what you need to do your calculations. You also don’t need to do manual calculations with only pen and paper on hand. Nowadays, companies already utilise great tools, applications and systems to make bookkeeping more manageable, effective and simplified.
If you run a business and want to do your own bookkeeping or perhaps you want to venture into a career in finance, bookkeeping courses are a way to understand how the financial side works and gain the skills you need to handle and manage financial data and transactions.
Develop and use spreadsheets
Learn how to use and create professional spreadsheets. This is a great skill to learn and develop and will be immensely valuable when working with numbers and data as well as creating financial reports. Having the skills in using spreadsheets is also a must-have in most bookkeeping jobs and roles. It will definitely strengthen your employability to have this skill on your resume.
Training in AOT’s finance courses will involve using spreadsheets and templates, which are not written to a specific accounting software. This allows you to be able to apply the knowledge and skills you learn in the course to any software you may work with in the future.
Process and manage payroll
Most bookkeeping roles will involve payroll accounting. If you’re a business owner who employs workers or a bookkeeper assigned to process and manage the payroll of a company, you need to learn how to record payroll transactions including employee wages, payroll taxes, fringe benefits and other employee deductions, bonus, etc.
Understanding this key area in finance will help you perform the job effectively, accurately and in compliance with relevant laws. There are specific short courses for developing the skillset in this area in bookkeeping.
Process accounts payable and receivable
In the world of business, companies purchase goods that they need to operate their business and they also sell goods or services to other companies or end users. And they often do these on credit which is where accounts payable and receivable come into play. It is the bookkeeper’s job to ensure these financial transactions are accurately recorded, tracked, and reported to get a good picture of the company’s financial health.
Understanding this key business function, how it works, and how to effectively process related financial data is part of the skillset required of bookkeepers today.
Prepare financial reports
Organisations need financial reports to make intelligent and strategic decisions when running the company. This is where financial reports will be key to management’s decision-making. Having the skill in reporting financial data is valuable and sought after in bookkeepers by many businesses today.
More than working with numbers, spreadsheets and recording transactions, financial reporting provides information and knowledge. And with knowledge comes power to make an impact. Learn how to make financial reports through AOT’s online courses.
Manage small business finances
If you are setting up or running a new small business, managing your finances is key to your success. Understanding how to interpret financial reports and data will help you develop financial management strategies for the success of your small business. Whether you want to perform the bookkeeping yourself or need a solid background to understand how small business finances work, you can learn the knowledge and skills in AOT’s finance courses for new small businesses.