Computerised Accounts Exams Panic

Hi All

I am due to sit my computerised accounts exam on Wednesday and am in a complete blind panic having never used Sage before!! I have a couple of questions below that I was hopeing that somebody could help me with

1) In one of the practice questions it asks for you to top up the petty cash from the bank account - would it be correct for me to just do a journal crediting petty cash & debiting the bank a.c?

2) What codes on the nominal ledger would I use to set up accounts for drawings and VAT from presivous sales not recorded under invoices

3) How do you do a bank reconcilliation

Any advice anyone could give me would be gratelly apppreciated

Thanks
C

Comments

  • sdvsdv Experienced Mentor Posts: 585Registered
    Hi All

    I am due to sit my computerised accounts exam on Wednesday and am in a complete blind panic having never used Sage before!! I have a couple of questions below that I was hopeing that somebody could help me with

    1) In one of the practice questions it asks for you to top up the petty cash from the bank account - would it be correct for me to just do a journal crediting petty cash & debiting the bank a.c?

    2) What codes on the nominal ledger would I use to set up accounts for drawings and VAT from presivous sales not recorded under invoices

    3) How do you do a bank reconcilliation

    Any advice anyone could give me would be gratelly apppreciated

    Thanks
    C

    First of all, I don't think you will be ready by Wednesday and it is advisable to postpone the exams. There is no point in sitting the exam and hoping for the best. You are likely to have to wait for the results and pay £40-£50 again to re-take the sage exam.

    To answer your above points

    1 post a journal from bank (1200) to Cash (1230)

    2 create an account in 3000 range or re-name 3010 to Drawings - This is where capital and shareholders funds are

    3 select bank
    select/highlight bank account (eg 1200)
    select reconcile from bank account toolbar

    4 Statement summary screen
    enter statement number
    enter Ending balance (from bank statement)
    enter date -last date on bank statement
    click ok

    5 then is the normal way of to reconcile. If you haven't done bank recs before you will need to read the chapter on how to do bank recs from your text book and practice.

    hope this helps
  • Sulew17Sulew17 Well-Known Posts: 174Registered
    Hi Charlotte, I agree with sdv about maybe cancelling your CMPA exam until you know Sage a bit better. I took mine in June and, altho we had practised in class, it wasn't as easy as I had hoped - although I did pass! I found 'Sage 50 in easy steps' by Gillian Gilert a great help. It explains things simply and easily. I bought my copy on ebay but it is stocked by Amazon, etc.

    Good luck
  • welshwizardwelshwizard Trusted Regular South WalesPosts: 465Registered
    Firstly, Computerised accounts is not specifically for SAGE - although most of the questions/tasks seem to be SAGE oriented.

    Secondly, any trainer who enters you for an assessment without ensuring that you are ready for assessment is not acting in your best interest, not acting professionally and certainly not acting in accordance with AAT Code of Conduct for Providers:

    "A high level of competence is required to be successful in the assessments and so student members should be given the opportunity to practice the skills needed until they are in a position to be successful."

    It is clear that you have not been given chance to practice on the software that you will be assessed on. Would you sit your driving test unaccompanied without first practising?

    You have clearly not been given good advice and guidance and need to think long and hard about whether you should sit this assessment now and, indeed, whether you should stick with your current provider or change to someone who can provide you with the support you need (and are entitled to).

    Good luck!
  • celticghirlcelticghirl Settling In Nicely Posts: 20Registered
    Hi has anyone had problems with the text and revision books by Kaplan for this Unit?

    I'm following the instructions to the letter but i am getting different results than those shown in their answers section

    Had similar problems with BA1/2 and was advised to use only AAT revision materials and i'm wondering if this is a Kaplan thing again.

    I'm just about to do the AAT mock exam so will see how i get on but just wondering if anyone has experienced the same?
  • Charlottec5779Charlottec5779 New Member Posts: 9Registered
    Hi Guys

    Just want to thank all so much for your help and advice. I did contact my training provider about changing the exam date but they wanted me to a pay a £20 admin fee which I though was extortionate considering the exam only cost £30 to book!!!

    Thanks for the book recomendation Sulew17 I managed to borrow a book from my local and library and I am already feeling so much more confiedent.

    Thanks again everyone

    C
  • SharleenSharleen Feels At Home Posts: 36Registered
    Celticgirl - yeah I had real problems with Kaplan on this unit. Full of errors and some stuff which comes up in the mock assessments just not even covered. I've complained and will go back to BPP for the next one!
  • Sulew17Sulew17 Well-Known Posts: 174Registered
    Hi Sharleen, how did the exam go? or is this week? Hope all went / goes well! Best wishes. Su
  • celticghirlcelticghirl Settling In Nicely Posts: 20Registered
    i've got the exam on Wednesday, the following come up in the AAT and Kaplan mock exams which are not covered in any way in the Kaplan textbook

    audit trail
    print journals
    contra entries
    returned cheques

    been plodding through with it but it has made what is an enjoyable unit, quite frustrating !!!

    wish me luck .......
  • SharleenSharleen Feels At Home Posts: 36Registered
    Sounds like you found similar stuff to me so hopefully we'll both be ok. Apparently 6 to 8 weeks for the results though, grr! Good luck, let me know how you get on.

    Sulew17 - it was ok, hopefully I did enough but definitely wasn't 100% covered in the study books.
  • celticghirlcelticghirl Settling In Nicely Posts: 20Registered
    Thanks Sharleen, sat it Wednesday, a few technical hitches at the start but think it went ok, fingers crossed.........
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