This course will provide the student with knowledge of advanced bookkeeping procedures and theory. It is advisable that the student should have completed Bookkeeping Level 1 or have had at least 1 year business experience as a bookkeeper before attending Bookkeeping Level 2.

Full Details Below

SCS Training Centre is offering our hands-on Bookkeeping Level 2 seminar commencing on January 13/2020 6:30-9:00 p.m. for 8 sessions.

Please call us at 905-628-3208 or visit our website at:

Payroll Procedures: Employee’s Perspective

  1. Calculating Gross Pay, Routine Deductions and Net pay
  2. Recording and Preparing a typical payroll
  3. Preparing a company’s payroll summary
  4. Maintaining an individual’s earnings record

The Employer’s Tax Responsibilities

  1. How to calculate and record the employer’s expenses associated with payroll
  2. How employers’ remit and record their employees’ deduction to CRA.
  3. Employers’ annual responsibilities for filing T4 summary form.

Special journals with taxes: Merchandising Company (Sales)

  1. Recording sales that include Taxes
  2. Creating, recording and posting a credit memorandum
  3. Recording cash receipts
  4. Preparing schedules of Accounts Recievable

Special journal with taxes: Merchandising Company (Purchases)       

  1. Recording purchases that include taxes
  2. Creating, recording and posting a debit memorandum
  3. Recording payments Receipts
  4. Preparing Schedules of Accounts Payable

Recording of Adjustments and completing a worksheet for a merchandising company (Periodic Inventory System)

  • Beginning and Ending Merchandise Inventory
  • Cost of Goods Sold

Completion of the Accounting Cycle for a Merchandising Company

  • Preparing Financial Statements for a merchandising company
  • Recording adjusting and closing entries
  • Preparing a post-closing trial balance
  • Dealing with reversing entries

Accounting for Bad Debts:

  • Writing off an accounts as uncollectible
  • Estimating Bad Debts using two approaches

Accounting for Property, Plants, Equipment and intangible Assets

  • Calculating the cost of an asset
  • Calculating amortization using one of the four methods
  • Calculating amortization for tax purposes using capital cost allowances
  • The difference between Capital Expenditures and Revenue expenditures
  • Journalizing entries for discarding, selling, or exchanging plant assets.