Bookkeeping NC III study plan
Bookkeeping NC III · Give each week a clear focus.
8 weeks · About 6 hours per week
Perform bookkeeping tasks and maintain accounting records
Identify and describe the full accounting cycle steps from source document to post-closing trial balance
Classify accounts into assets, liabilities, equity, revenue, and expenses using the chart of accounts
Record 20 sample transactions in a general journal applying double-entry rules
Post journal entries to ledger accounts and extract a trial balance
Your checkpoint
A completed manual journal-to-trial-balance practice set for 20 transactions with zero unbalanced entries
Perform bookkeeping tasks and maintain accounting records & Prepare and maintain financial reports and statements
Prepare adjusting entries for accruals, prepayments, depreciation, and doubtful debts
Construct a worksheet to link the trial balance to adjusted figures
Draft an income statement and balance sheet from adjusted balances
Explain how each adjusting entry affects profit and the balance sheet
Your checkpoint
An adjusted trial balance plus income statement and balance sheet for a single-period practice scenario
Prepare and maintain financial reports and statements
Prepare a statement of changes in equity and a simple cash flow summary
Apply closing entries and produce a post-closing trial balance
Compute and interpret at least five financial ratios from prepared statements
Format statements to a consistent presentation standard with headings, dates, and comparatives
Your checkpoint
A complete financial report package (income statement, equity statement, balance sheet, post-closing trial balance) with a one-page ratio analysis
Maintain and reconcile bank and cash accounts
Reconcile a bank statement against the cash book and list all reconciling items
Prepare a bank reconciliation statement and update the cash book for unrecorded items
Establish and operate a petty cash imprest system with vouchers
Perform a physical cash count and document the variance
Your checkpoint
A reconciled bank statement and updated cash book matching to the cent, plus a petty cash summary
Process payroll and related statutory deductions
Compute gross pay, overtime, and allowances from time and attendance records
Calculate statutory deductions and net pay for at least three employee scenarios
Prepare a payroll register and individual payslips
Journalise the payroll and record the related liabilities
Your checkpoint
A payroll register for three employees with payslips and the corresponding payroll journal entry
Prepare and lodge tax and other statutory returns
Identify the statutory returns an employer must lodge and their due dates
Complete a sample return form using figures from the payroll register
Reconcile reported figures back to the ledger control accounts
Outline the consequences of late or incorrect lodgement and the correction process
Your checkpoint
A completed sample statutory return reconciled to the payroll register, with a lodgement calendar
Apply accounting software and workplace safety and quality procedures
Set up a company file with chart of accounts, customers, and suppliers in accounting software
Enter and post a batch of transactions and generate a trial balance from the system
Generate and export standard reports and back up the company file
Apply workplace safety and quality checks to a bookkeeping task, documenting one hazard and one quality control step
Your checkpoint
A software-generated trial balance and report export matching the manually prepared figures from week 2
Perform bookkeeping tasks and maintain accounting records & Prepare and maintain financial reports and statements & Maintain and reconcile bank and cash accounts & Process payroll and related statutory deductions & Prepare and lodge tax and other statutory returns & Apply accounting software and workplace safety and quality procedures
Complete a full-cycle integrated practice set covering transactions through to final reports
Reconcile bank and payroll figures within the integrated set
Prepare and lodge a sample statutory return from the integrated set
Review errors against a checklist and correct them, documenting each correction
Your checkpoint
A fully completed integrated practice set with all statements, reconciliations, and one statutory return, self-marked against a checklist
Milestones
Week 2: Adjusted trial balance balances and statements tie to it
Week 4: Bank reconciliation balances and cash book is updated correctly
Week 6: Payroll register and statutory return agree with each other
Week 8: Integrated practice set complete with all deliverables and corrections logged