There are some essential work at accounting course which are writing formal letters to customers such as chasing aged debts, memo to colleagues related to work, probably emails and procedures as well.
So far we've learnt sales ledger, invoice input, receiving payments from customers. The skill test will be something like:
Check ordering note and delivery note to see if they are match, if not, what action should be taken?(in writing)
Write invoices and credit note, notice the discount and settlement discount, and calculate VAT(all VATs are after settlement discount)
Check if the cheques that we received match the right invoice, not out-of-date, signed properly.
Write Sales day book and Sales return day book
Bank cash and cheques
Write main ledger account: Sales ledger control a/c(Debtors a/c), Discount allowed a/c, Sales a/c, Sales return a/c, VAT
Write subsidiary account
Day book and Cash book:
VAT
record all vat at day book
only record vat for cash sales
Discount
only record discount on cash books to Debtors a/c and Discount allowed a/c
Sales ledger control a/c
debit the gross amount at day books, credit the amount of sales ledger at cash books, credit the discount allowed at cash books
VAT Ledger
credit the vat at sales day books,and cash sales vat at cash books. debit the vat at sales return day books
Range statements not covered:
Coded: computerised systems
Ledgers: computerised ledgers
Statements: computerised
Knowledge and understanding not covered:
Basic Law relating to contract law and Sales of Goods Act
Document retention policies
Basic law relating to data protection
The use of the cash book and petty cash book as part of the double entry system or as books of prime entry
Methods of handling and storing money, including the security aspects
Petty cash procedures: imprest and non imprest methods; analysis
Organisational procedures for filing source documents
Banking and personal security procedures
