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Computerised accounting-cpag

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Computerised accounting-cpag

  1. 1. Computerised accounting Sue Pope
  2. 2. • Unit within Level 2 Certificate in Accounting • Locally assessed – AAT computer based project (CBP) – Work place evidence, or – Recognition of prior learning (RPL) • Study and assessment guides (SAG) provides full details of unit content and guidance on delivery • The CBP can be done using any accounting package that performs the procedures outlined in the guidance Overview
  3. 3. • Enter accounting data at the beginning of an accounting period • Record customer transactions • Record supplier transactions • Record and reconcile bank and cash transactions • Be able to use journals to enter accounting transactions • Produce reports • Maintain the safety and security of data held in the computerised accounting system Standards – Learning outcomes
  4. 4. • Assessment criteria are more specific and are all skills based • No requirement to: – describe risks to data and procedures used for data protection – describe sources and characteristics of data etc. – use IT tools to process period end routines and check data records – import and export data Standards – significant changes
  5. 5. New requirements: • process recurring receipts and payments • produce specific reports for customers and suppliers, including remittance advice notes • produce specific reports from the nominal ledger, including audit trail • use a software password to protect accounting information Standards – significant changes
  6. 6. • Single section • 2 hour time allowance to complete, additional 1 hour permitted for administration • Requirement to print, alternatives acceptable • Screen shots required to evidence certain assessment criteria • Reduction in amount of printing – checklist for candidates The assessment – overview
  7. 7. • At the start of the assessment: – Set up details to be entered – training providers may assist – Give candidates copy of pre-determined nominal ledger codes – Ensure candidates know which back up medium to use – Ensure candidates know whether to print or use an alternative to print • Instructions in assessment book for submission of assessment The assessment – overview
  8. 8. • All assessment criteria will be tested • 14 tasks, based on a business situation, which include: – Set up of customer/supplier records – Set up of nominal ledger accounts – Processing transactions – Bank reconciliation – Password protection – Back up – Production of reports The assessment – content
  9. 9. Refer to the customer listing below and set up customer records to open sales ledger accounts for each customer, entering opening balances at 1 May 20XX. Example assessment task – set up customer/supplier records Customer name and address Customer account code Customer account details at 1 May 20XX Fraser Designs 291 Tower Way Stotton ST7 4PQ FRA001 Opening balance: £2,017.60 Payment terms: 30 days Customer listing
  10. 10. Example – Refer to the list of nominal ledger accounts below: • Set up nominal ledger records for each account, entering opening balances at 1 May 20XX and making sure you select, amend or create appropriate nominal ledger account codes. • Generate a trial balance, check the accuracy of the trial balance and, if necessary, correct any errors. You do not need to print the trial balance. Example assessment task – set up nominal ledger accounts
  11. 11. Example assessment task – set up nominal ledger accounts, continued Account names Debit balance £ Credit Balance £ Motor vehicles Bank current account Petty cash VAT on sales VAT on purchases Capital Drawings Sales – kitchen furniture Sales – kitchen equipment Goods for re-sale Sales ledger control* see note below Purchases ledger control* see note below 20,067.10 4,916.26 68.24 909.23 350.00 224.00 5,521.70 1,497.68 26,416.85 456.20 119.30 3,566.50 Nominal ledger accounts
  12. 12. • Refer to the following purchases invoices and credit notes and enter these transactions into the computer. Example assessment task – process invoices/credit notes for customers/suppliers Jackson Builders 75 Steven Street, Brigtown, BG5 3PE VAT Registration No 321 3726 89 I N V O I C E N O 5/219 Date: 12 May 20XX Campbell Kitchens 47 Landsway Road Stotton, ST4 9TX £ Repairs to building 909.25 VAT @ 20% 181.85 Total for payment 1091.10 Terms: 30 days
  13. 13. (a) Refer to the following summary of payments made to suppliers and enter these transactions into the computer, making sure you print a remittance advice as shown in (b) and allocate all amounts correctly as shown in the details column. (b) Print a remittance advice to accompany the payment made to Hart Ltd. Example assessment task – allocate monies received from customers/paid to suppliers
  14. 14. Cheques paid listing Receipts and payments may also include credit notes Example assessment task – allocate monies received from customers/paid to suppliers, continued. Date 20XX Cheque number Supplier £ Details 12 May 24 May 006723 006724 Vanstone plc Hart Ltd 1,200.00 1,012.75 Payment on account Payment of opening balance
  15. 15. • Refer to the following cash sales listing and enter this transaction into the computer. Cash sales listing • Various transactions and source documents Example assessment task – process receipts/payments for non-credit transactions Date 20XX Payment method Details Amount 24 May Cheque JL Green – kitchen equipment £474.00 including VAT
  16. 16. Refer to the following standing order schedule: • set up a recurring entry as shown in the standing order schedule below • print a screen shot of the screen setting up the recurring entry • process the first payment. Example assessment task – process recurring receipts/payments
  17. 17. Standing order schedule Bank receipts and payments only Example assessment task – process recurring receipts/payments, continued. Details Amount Frequency of payment Total number of payments Payment start date 20XX Payment finish Date 20XX Rent - VAT not applicable £750 One payment every 2 months 3 2 May 2 September
  18. 18. Refer to the following petty cash vouchers and enter these transactions into the computer. Example assessment task – process petty cash receipts/payments Petty cash voucher Date 18 May 20XX No PC213 Rail fare VAT not applicable Receipt attached £ 37.90
  19. 19. Refer to the following journal entries and enter them into the computer. Example assessment task – process journal entries Journal entries - 24 May 20XX £ £ Premises insurance Bank Being an error in the amount shown on Kitty Campbell’s e mail of 10 May for premises insurance. 10.00 10.00
  20. 20. Refer to the following bank statement: • Enter the bank interest received (no VAT) which has not yet been accounted for. • Reconcile the bank statement. If the bank statement does not reconcile check your work and make the necessary corrections. You do not need to print a bank reconciliation statement. Example assessment task – perform a periodic bank reconciliation
  21. 21. Example assessment task – perform a periodic bank reconciliation, continued Rowley Bank plc To: Campbell Kitchens Account number 62082176 31 May 20XX STATEMENT OF ACCOUNT Date 20XX Details Paid out £ Paid in £ Balance £ 01 May Opening balance 4,916.26C 01 May Cash 81.76 4,834.50C 02 May James Holdings Ltd - Rent 750.00 4,084.50C 10 May FH Insurance plc 829.40 3,255.10C 12 May Cheque 006723 1,200.00 2,055.10C 15 May BACS - SCL Interiors 1,906.50 3,961.60C 24 May Cash withdrawn 600.00 3,361.60C 25 May BACS - Fry and Partners 1,097.44 4,459.04C 28 May Bank interest received 24.20 4,483.24C D = Debit C = Credit
  22. 22. (a) Use the password CPAGp1 to protect your accounting data and print a screen shot of the screen showing the entry of the password into the computer. (b) Use a file name made up of your name followed by CKbackup and back up your work to a suitable storage medium. Print a screen shot of the back up screen showing the file name and location of back up data. Example assessment task – use a password and back up data
  23. 23. Print the following reports. • The purchases day book (supplier invoices) • An aged trade payables analysis • All sales ledger accounts (customer accounts), showing all transactions within each account Example assessment task – produce reports
  24. 24. • A trial balance at 31 May 20XX • The sales ledger control account in the nominal ledger, showing all transactions within the account • An audit trail, showing full details of all transactions, including details of receipts/payments allocated to items in customer/supplier accounts and details of items in the bank account that have been reconciled Example assessment task – produce reports, continued
  25. 25. • Assessment is competency based. Candidates are required to enter given data accurately and in accordance with best practice • The required standard for each task. For example, the number and type of errors allowed, is detailed in the assessor notes • The number and type of errors allowed, if any, varies according to the task • Candidates must meet the required standard in 10 of the 14 tasks to be successful Assessing the candidate’s work
  26. 26. • Most of the evidence required for assessment purposes will be found on the audit trail printed in the final task • Answers indicative of relevant content within the audit trail will be provided to assist • Remainder of the evidence required for assessment purposes will be found on other reports printed in the final task and on the screen shots printed during the assessment • Checklist for candidates at end of assessment Assessing the candidate’s work
  27. 27. Checklist – example Documents and reports Task  when printed Remittance advice 7 Screen shot of the recurring entry set up screen 9 Screen shot showing the entry of the password 13 Screen shot showing the file name and location of back up data 13 Purchases day book (supplier invoices) 14 Aged trade payables analysis 14 Sales ledger accounts (customer accounts), showing all transactions within each account 14 Trial balance at 31 May 20XX 14 Sales ledger control account in the nominal ledger, showing all transactions within the account 14 Audit trail, showing full details of all transactions, including details of receipts/payments allocated to items in customer/supplier accounts and details of items in the bank account that have been reconciled 14
  28. 28. • For competency in the final task, a specified number of reports must be printed • The content of some of these reports is also required for assessment of other tasks • If such reports are not printed, assessors can print the relevant reports from the candidate’s back-up copy of the assessment and use them to assess the content of the reports but not to provide evidence of the actual printing of the reports What if the candidate does not print the reports required for assessment?
  29. 29. • If screen shots are not printed assessors can print them from the candidate’s back-up copy of the assessment and thus assess the content of the screen shots • In both instances, reports and screen shots, the assessor must make a note on the print out of the action taken and include a note to the Internal Verifier • Print outs must be available for inspection What if the candidate has not printed the screen shots required for assessment?
  30. 30. Any questions? Tutor talk – a forum for AAT tutors Carry on this conversation with fellow tutors at aattutortalk.org.uk If you haven’t got a log in, email tutortalk@aat.org.uk and we’ll send you your log in details.

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