Basic Bookkeeping and Financial Literacy

Basic Bookkeeping and Financial Literacy

The WEE-SAFE Project conducted a two-day training on Basic Bookkeeping and Financial Literacy on July 30–31, 2024, at the Lamitan City Hostel, attended by 40 participants from various farmers and fisherfolk. The activity aimed to strengthen the participants’ knowledge and skills in basic bookkeeping and financial management to support the sustainability and effective operation of their organizations.

Participants shared their expectations, which guided the facilitators in aligning the sessions with their needs. The training proper focused on simple bookkeeping for small and home-based businesses, including the fundamentals of recording financial transactions, the benefits and rules of bookkeeping, single-entry and double-entry systems, the accounting equation, and the use of a chart of accounts.

Interactive discussions and hands-on exercises allowed participants to practice recording transactions, preparing simple financial statements, and filling out sales invoices. A workshop and friendly competition further encouraged engagement and reinforced learning. The activity concluded with participants gaining practical knowledge and improved confidence in managing financial records, contributing to stronger organizational accountability and long-term economic resilience.