sage journal entry losis electronics limited

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meibaker
meibaker Registered Posts: 481 Dedicated contributor 🦉
in AAT Level 3 (Level 6 in Scotland)
simulation 2 losis electronics limited
task 2.7
ask you to make journal entry
petty cash 250
bank 250
withdrawl of cash from bank
what i did is bank > transfer, i know it's wrong as tutor left comment as being missed posting of petty cash drawn from the cash. so what's the correct way to do it then! thanks

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  • AK002
    AK002 Registered Posts: 2,492 Beyond epic contributor 🧙‍♂️
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    Not sure i understand but..

    In sage you can do a "bank" transfer from petty cash to the bank..

    If they were being really anal you should technically go the the nominal ledger and post it as a journal there..

    Apologies if i've missed the point completely!
  • Jan
    Jan Registered Posts: 654 Epic contributor 🐘
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    If they were being really anal you should technically go the the nominal ledger and post it as a journal there..
    In a sim if you are told to do a journal entry, do a journal entry not a transfer and in the details put cash drawn from bank. In real life I'd just do a transfer!

    In other words if you are asked to do something in an exam, do it !
  • Kecak
    Kecak Registered Posts: 50 Regular contributor ⭐
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    meibaker wrote: »
    simulation 2 losis electronics limited
    withdrawl of cash from bank

    i know it's wrong as tutor left comment as being missed posting of petty cash drawn from the cash. so what's the correct way to do it then! thanks

    Which way around did you do the transfer? Sounds to me like you've done the transfer from the petty cash to the bank, when they were asking for the other way around?

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