Financial Accounting for the super dummies

The best practices genereation # 1

The best way to learn about financial accounting is to learn it from a software; and if you are not that type of operating officer but more of a CEO type, you would benefit directly from the user-manual alone, without having to bother about practicality.

A user manual for financial accounting software has a lot to teach.. such as:

1. What are the main things of financial accountings ? (The main modules such as GL/AP/AR)
2. Relationships between main modules ?
3. What is journal ?
4. Rules of thumb (Fiscal year, currency, account codes and etc)
5. How to (s) ? - will teach you about complexity of financial accounting.
i.e how to enter transaction to sales ?
how to enter good returns to supplier ?
how to transfer deposit into receipt payment ?
6. What consists of what ? -> Business insights
i.e Sales has the following functions
- Quotation
- Sales order
- Delivery order
- Invoice
- Cash sales
- Debit note
- Credit note
- Cancel sales order
- Delivery return
7. Types of reports
8. Types of maintenance (this will teach you about housekeeping essentials)
9. Miscellaneous sections will teach you all other things about financial accounting which are not being taught in the text books.

Use the Internet:

Make use of the Internet to refer to terms unfamiliar to you. For instance, the teaching of costing methods (for stock, applicable to manufacturers) provides that there are ...

1. Fixed cost
2. Weighted average
5. Most recently

Use search engine to search for definitions of these terms.

Visit TMCS:

Visit TMCS office for non-obligation demo of The Autocount 2006 (Financial Accounting & Stock Control Suite) and walk-away with a free user-manual and trial version.

Otherwise, you may email IT-Sideways for the facilitations.


One would realize that to run a business is to pay taxes!


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