Home For AAT student members AQ 2013 AAT Level 3 (Level 6 in Scotland)

financial year sage

meibakermeibaker Trusted RegularRegistered Posts: 481
in the simulation test part 2, it states you will be required to make entries on a computerised accounting package for transaction occuring in july 2007, so i set up the financial year starts at july 2007, is that right?
then there is a quesiton ask you to enter cheques from customer, and 2 cheques are dated 30 june and 28 june, that's out of the fiancial year? what shall i do now? please help

Comments

  • mikesmikes Trusted Regular Registered Posts: 254
    I would post the batch with July's date and record the cheques with the date they were written.

    Because this subject can be done at the certificate stage, then making adjustments for accruals and prepayments are outside the scope of the work skills unit. I wouln't worry about it. You are going to get cheques well after month and year end dates.
  • *Jo*Jo Experienced Mentor Registered Posts: 509
    you can post the cheques as the date recieved not the date they are written. The simulation should give you "todays date". You would only post the date they are dated if it is a supplier cheque drawn by the business.
  • meibakermeibaker Trusted Regular Registered Posts: 481
    but there wasn't any date? i am doing simulation test 2, osborne books.
  • meibakermeibaker Trusted Regular Registered Posts: 481
    but there wasn't any date, may be i have to guess some date,do you think i will lose any marks for this?
  • *Jo*Jo Experienced Mentor Registered Posts: 509
    I haven't seen the osbourne books im afraid. Im assuming your meaning there wasn;t a date that you are entering the transactions. If not i would just pick a date in July and use that as your posting date.
  • meibakermeibaker Trusted Regular Registered Posts: 481
    thanks for your help.
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