help with skills test practise - unit 5

System

I have a question which really struck me yesterday when practising my skills test

task - post all entries from SDB to SLCA
sales ledger entries already been done for you.(no probs with this)
then
list balances on sales ledger compare to SLCA posting establish reason for difference.

I listed them all the difference was £40 and the error was on the SL
they posted SDB 2115 to SL as 2155

explain what action to take , if necessary use the journal template .

Correct me if i am wrong but i do not need to use the journal as it has not affected the Nominal Ledger in anyway?

Please help

System

Re:help with skills test practise - unit 5

Hi

According to my tutor, if it does not affect the Control Account and Sales Ledger, there is no need to do a journal and on the skills test you can write 'As this does not affect the Control etc......a journal is not necessary.

Hope this helps.

Violet

System

Re:help with skills test practise - unit 5

ok here we go:

If the £40 error is in the sales ledger then there wont be an error in the sales ledger control account. Heres what presumably happened:

1) The sales invoice daybook was completed and totalled at 2115.

2) The sales ledger was updated with the invoices but 2155 was posted instead of 2115.

3) At this point when they have come to update the sales ledger control account they dont know about the error, and post the invoices from the sales daybook to the sales ledger control correctly at 2115. The entry to the sales ledger control account must of been posted correctly because otherwise it would of balanced to the sales ledger and you wouldnt know there was an error.

4) The next thing is it is realised that there is an error in the sales ledger only, and a posting is made to that only to correct it.

Hope this helps
Adrian