Learning bookkeeping

[saxy_jag]

I've just started an OU bookkeeping course. I'm two weeks in. I've got the hang of (just) assets, liabilities and capital and it's now moved on to P&L and cost of sales. I'm just about getting through with a lot of referring back to my notes and working through my wrong answers.

If anyone out there has done a course like this, please tell me that the double-entry principle and the correct application of debits and credits starts to become second nature after a while. Also, how bad is it for a bookkeeper to be referring back to their crib notes in practice?

[237SJ]

It does become second nature. I did bookkeeping as part of Business Studies at college and I couldn`t get the hang of it. One day it just clicked and I loved it. Just remember "for every credit there must be a debit" and you won`t go wrong. My teacher wanted me to be an accountant but I had other ideas! Good luck

[saxy_jag]

Thanks for that. It's just knowing which accounts to debit and credit, especially where credit sales and returns are concerned.

At 51, I'm not fussed about becoming an accountant, but having discovered I'm a lot better at figures than I thought I was, I'm now finding business finance really interesting. I'd be quite happy just keeping the books for a small business.

[boxtops]

Yes, it does become automatic after a while. One word - I have studied several times with the OU, and the advice I have always had is, don't read anything that's not in the course materials which they provide to you. Outside reading and referencing (while useful) doesn't earn you any extra points when you do the exams or written submissions - just use what they provide to you.
Crib notes are good, you need them until you find the info sinks in.
Good luck - I too resumed studying in my fifties, one is never too old to change careers!

[saxy_jag]

Boxtops, I already have a BSc and DIploma in Music with the OU, so I'm quite used to their methods and expectations. I almost did AAT but chose this course because it was with a provider I'm familiar with. It's just that, aside from a Scheidegger course 25 years ago and some purchase ledger experience, bookkeeping is a completely new subject for me and something I'm keen to make a go of. I'm just anxious that it all goes in and stays there until I can find some work that lets me practice it.

I'm hoping to be able to manage my band's accounts fairly soon, and my soon-to-retire husband and a colleague are looking at a small business venture, so hopefully I may get that chance.

[boxtops]

Excellent, saxy_jag - sorry, I didn't realise you were a lot-time student with them. I'd certainly go back to them if I wanted to resume my studies again.

Good luck with the course - sounds ideal for your future plans, good luck with them too!