How to Learn Accounting With Freeware
Leaning and understanding accounting fundamentals doesn't mean buying expensive software or getting an associate or bachelor's degree in accounting. You can learn accounting via the Internet with a combination of freeware accounting software and free online training material. The only thing you need to accomplish this is the desire, time commitment and knowledge of where to look on the Internet.
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Instructions
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Learn the basic concepts and definitions used in accounting before you immerse yourself into the training. If you are new to accounting you will have heard some of these terms before, such as "asset." But there will be many you should become more comfortable with before starting. A good place to start is at A-Systems Corporation. This site provides a basis to begin your accounting training by offering a free list of accounting terms. Understanding the difference between cash and accrual accounting is important as well. There is very useful information regarding accounting basics and cash versus accrual accounting provided at NOLO. The information referenced is free, and you may find various other useful accounting information at these sites.
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Take a couple of free online accounting training courses. There will certainly be some overlap of material but not entirely. Also, repetition of new concepts greatly improves the learning process. One good place to start is So, You Want to Learn Bookkeeping! This free online accounting training consists of seven sections and a lengthy introduction. It will cover everything you need and more. Another helpful free training course is offered by the Accounting Coach website. This site has its accounting program broken down into 32 specific accounting topics such as depreciation and adjusting entries. This is very helpful when you have specific areas of accounting that you want to review again.
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Download the freeware accounting program of your choice once you feel you have a solid understanding of the accounting basics. A basic understanding is important because when you begin working with the program you select, there will be an assumption that you are familiar with accounting concepts. A very popular freeware package is GnuCash. This accounting freeware targets small business, but you can use it for personal finance as well. Another freeware accounting program is NCH Software's Express Accounts. This software is free only if you use it for non-commercial purposes. Another option is to use Freeware Files to search for accounting freeware.
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Take the delivered tutorial of the freeware accounting program you chose to use. This is imperative because it teaches you how to use the specific accounting software. Both GnuCash and Express Accounts have tutorials within their program under the "Help" menu.
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Maintain proper accounting records which support the accounting entries you make. Do this either by month or by category. If you use the information in your system for taxes or to obtain a loan you will want to have the backup that supports your entries.
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Make backups of your system data on a consistent basis. This is freeware, so there can be system bugs from time to time, so know how and when to make a backup of your data. This depends on the freeware you select and how often you enter data and how much data you are entering.
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Tips & Warnings
Some freeware is actually only a 30-day trial. Be aware of this if you search for freeware on your computer, as the providers will appear on searches for freeware accounting programs, and the free trial may be in the fine print.
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