Book-keeping and
Computerised Accounts
Book-keeping (IAB* & OCR**) Level 2 - Module 1
Course Content
Lesson 1: The role of the book-keeper, the difference between capital, assets and liabilities, the dual effect of transactions and the double entry system, the accounting equation, the difference between cash and credit transactions, preparing simple balance sheets, identifying transactions in ledger accounts
Lesson 2: The basic principles of Value Added Tax, calculating VAT, constructing sales invoices, trade and cash discounts, posting sales invoices to the General Ledger
Lesson 3: Checking purchase invoices for accuracy, credit notes, posting purchase invoices and credit notes to the General Ledger, the purpose of the Purchases Day Book, Purchase Ledger, posting an Analysed Day Book to the General Ledger and Purchase Ledger
Lesson 4: purpose of an Analysed Sales Day Book, making postings to the General Ledger and Sales Ledger, understanding why Returns Day Books are used, identifying debit and credit entries, using day books confidently and accurately.
Lesson 5: Why the Cash Book is used, processing Cash Book payments and receipts, balancing the Cash Book, preparing a postings list, preparing a 3 column Cash Book
Lesson 6: Why the Petty Cash Book is used, processing Petty Cash payments and receipts, balancing the Petty Cash Book, preparing a cheque requisition
Lesson 7: Using a Postings List to update the General Ledger, updating the Sales and Purchase Ledger from the Cash Book, balancing ledger accounts, posting balances from a list, coding day books
Lesson 8: The purpose of a trial balance, preparing a trial balance, demonstrating the ability to maintain day books, prepare ledger balances and extract a trial balance
Book-keeping (IAB* & OCR**) Level 2 - Module 2
Course Content
Lesson 1: Posting the opening balances at the start of a new trading year, using a Trial Balance to illustrate the accounting equation, posting brought forward balances, making postings from a 3 column Cash Book to the ledger accounts.
Lesson 2: Understanding the various methods of making and receiving payments, preparing a daily takings and cash for banking form, reconciling daily takings to a till roll report, completing a paying in slip in order to bank money received, checking eligibility for cash discount.
Lesson 3: Updating and balancing the ledger accounts, reconciling the Debtors and Creditors Control accounts, using the Journal in order to process the book-keeping entries for contra transactions and bad debt, processing a returned cheque.
Lesson 4: Preparing a cash reconciliation statement, the reasons why bank reconciliation is performed, preparing a bank reconciliation statement, updating the Cash Book.
Lesson 5: Knowing how to maintain a self-managed credit control system, the purpose of a monthly statement, preparing monthly statements to send to customers, the purpose of an aged debtor analysis.
Lesson 6: Comparing a supplier statement to the related Purchase Ledger account, preparing a reconciliation statement, the action to take in respect of any discrepancies, identifying invoices falling due for payment, preparing a remittance advice and related payments.
Lesson 7: The purpose of payroll, the elements which make up gross pay, identifying typical statutory and voluntary deductions and employer on-costs, preparing the Journal entries to account for payroll, keeping a Wages/Salaries Control account and Wages/Salaries Expenses account, keeping PAYE/NIC and Pension Creditor accounts.
Lesson 8: Different VAT schemes, knowing how the double entry system is used in order to account for VAT, Form VAT 100 and preparing a pro forma VAT return, balancing the VAT account, demonstrating the ability to process ledger transactions and prepare control accounts.
Book-keeping (IAB* & OCR**) Level 2 - Module 3
Course Content
Lesson 1: Preparing a Trial Balance from the ledger accounts as well as from a list of account balances, using the Journal to correct errors not disclosed by the Trial Balance, preparing a revised Trial Balance following the correction of errors
Lesson 2: Using the Journal to start up a new set of double entry accounts, knowing how to write off bad debt, including any associated VAT, the purpose of a suspense account, using the Journal to correct errors and clear a suspense account, demonstrating the ability to make journal entries and adjustments and produce a revised Trial Balance
Lesson 3: Recognising the format used when extending the Trial Balance, categorising items of income and expenditure, calculating depreciation, accruals and prepayments, calculating the value of stock consumed, using the journal to record year-end adjustments
Lesson 4: Transferring the year-end adjustments to the Extended Trial Balance, distinguishing between the different type of account, extending the balances from the Trial Balance columns to either the Profit and Loss or Balance Sheet columns, calculating the profit, or loss, of the business
Lesson 5: Preparing a Profit and Loss account and Balance Sheet, calculating the gross profit percentage, knowing how to calculate the mark up percentage
Lesson 6: Closing off the ledger accounts at the end of the accounting period, recognising when a balance is to be carried forward to the next accounting period and when it is to be transferred to the Profit and Loss account, demonstrating the ability to extend a Trial Balance and prepare the financial statements of a business
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Sage 50 Accounts 2011 (IAB & OCR Level 2)
Course Content
Lesson 1: overview of the Sage program, changing the financial year, changing the program date, customers and suppliers opening balances, entering new customers and suppliers, data protection and security, backing up accounts data
Lesson 2: restoring data from a previous lesson, entering opening balances in the nominal ledger, preparing and printing a trial balance, setting up opening assets, liabilities and capital balances, entering budgets, producing routine reports
Lesson 3: changing the program date, checking data, the products window, making stock adjustments in, entering supplier invoices for products and services, posting error corrections, amending existing customer and supplier records
Lesson 4: creating customer invoices, previewing and printing customer invoices, checking the activity on a selected customer account, updating ledgers, generating customer letters, entering details of a new product, checking communication history
Lesson 5: entering customer and bank receipts, part payment, producing statements for customers, the customer and supplier dashboards, the diary
Lesson 6: processing payments made against supplier invoices, processing bank payments for non-invoiced items, entering petty cash payments and restoring the petty cash float, doing a bank transfer, using a journal to correct errors, using a journal to update the accounts with payroll details, the structure of nominal accounts, adding a new nominal account, printing a trial balance
Lesson 7: reconciling the November bank statement, printing and viewing bank reports and day books, using criteria to view specific reports, printing out the audit trail, correcting basic entry errors, reconciling the debtors and creditors control accounts
Lesson 8: deleting obsolete customer and supplier records, setting up a customer to receive settlement discount, using memorise and recall in the batch supplier invoice window, creating sales credit notes, processing purchase credit notes, adjusting stock records for returns
Lesson 9: posting a payment on account, allocating a payment on account, processing a receipt that includes settlement discount, using memorise and recall in the bank window, setting up a recurring entry, deleting a recurring entry, processing petty cash for December, entering several journals, reconcile the December bank statement
Lesson 10: Adding a new user to Sage, setting up a bill of materials, creating a new product record, performing a stock take and making adjustments, producing product price lists and discount structures, creating delivery addresses
Lesson 11: Deleting a price list, creating and amending sales orders, allocating/un-allocating stock, placing orders on hold, deleting orders, updating stock and recording despatch details
Lesson 12: Creating and amending purchase orders, processing sales orders, allocating/un-allocating stock, marking orders as delivered, cancelling orders, updating purchase order details, updating stock levels
Lesson 13: checking and reconciling the VAT return, the VAT transfer wizard, printing out a trial balance, producing profit & loss and balance sheet for management accounts, checking budget figures versus actuals, carrying out the year end procedure
Sage Line 50 v12
Course Content
Lesson One: Including: overview of the Sage program, VAT accounting setup methods, customers and suppliers opening balances, entering a new customer and supplier, data protection and security, backing up accounts data
Lesson Two: Including: restoring data from a previous lesson, entering opening balances in the nominal ledger, preparing and printing a trial balance
Lesson Three: Including: changing the program date, checking data, making stock adjustments in, entering supplier invoices for products and services, posting error corrections, amending existing customer and supplier records
Lesson Four: Including: creating customer invoices, previewing and printing customer invoices, checking the activity on a selected customer account, updating ledgers, generating customer letters, entering details of a new product
Lesson Five: Including: entering customer and bank receipts, part payment, producing statements for customers, the customer and supplier dashboards
Lesson Six: Including: processing payments made against supplier invoices, processing other payments, entering petty cash payments and restoring the petty cash float, doing a bank transfer, using a journal to correct errors, using a journal to update the accounts with payroll details, know about the structure of nominal accounts, add a new nominal account
Lesson Seven: Including: reconciling the November bank statement, printing and viewing bank reports and day books, using criteria to view specific reports, printing out the audit trail, correcting basic entry errors, reconciling the debtors and creditors control accounts
Lesson Eight: Including: deleting obsolete customer and supplier records, setting up a customer to receive settlement discount, using memorise and recall in the batch supplier invoice window, creating sales credit notes, processing purchase credit notes, adjusting stock records
Lesson Nine: Including: posting a payment on account, allocating a payment on account, processing a receipt that includes settlement discount, using memorise and recall in the bank window, setting up a recurring entry, deleting a recurring entry
Lesson Ten: Including: entering several journals, reconciling the December bank statement, checking and reconciling the VAT return, the VAT transfer wizard, printing out a trial balance, producing profit & loss and balance sheet for management accounts
*All 3 book-keeping modules must be covered to prepare for IAB Level 2
**All 3 book-keeping modules and Sage 50 Accounts 2011must be covered to prepare for OCR Level 2 in Book-keeping and Computerised Accounts |
