Quickie Questions Re SAge and Unit 31 simulations

pirate

Hi everyone,

about to take my Unit 31 part 2 in a few days and had some quickie questions

Am assuming that I will need to set the company up from scratch in the simulation.

Does it matter if
a) you dont have all the information such as VAT number and so on when setting up
b) instant accounts doesnt have a department number so how would you split the revenue and purchases into the different divisions/cost centres or does this not matter either
c) do you need to relate what you put in sage to Part 1 of the simulation in terms of Account codes and cost centre - I had this on my practise simulation but the cost codes where different to what you would general use in the Nominal Code and COA within sage.
d) Is it good practice to remove all the nominal codes that are not needed or required within the simluation. I would generally do this when setting up an account

Molly76

Hi,
I attempted Part 2 last week, not very happy with myself though.
Part 2 is separate from Part 1, the company is different. There is not much information about the company to input only that all sales are under standard tax. You are given sevral tasks such as set customers and suppliers accounts and their opening balances, to post some transactions - attention to the dates of transactions! - purchases and sales, to post some cash sales day totals, set quite a lot of accounts- with codes- and post their opening balances, some journal entries, payments to and from bank for various things not only purchases but bills and other things. every so often you are required to print out the day books totals or the list of accounts and so on. I got confused because the transactions were dated 2008 in the tasks provided and the vat rate then was 17.5% different to present .
Good luck with your assessment

pirate

Hey Molly

thanks for that; wow sounds really complex not going to have time to worry about removing nominal codes and so on.
the practice simulation I did was really simple for Part 2 but the one that I was given for part 1 was really complex and was much harder than the actual paper. Another practice one I have is much harder and along the lines that you describe not much of which is covered in my manual so really going off intuition etc.
Will let you know how I get on

thanks for the input