Level 2 struggles!

jslutw

Ive only been doing level 2 since beginning of september but am still finding it a little confusing am i the only one or will it eventually sink in

janwal

I found some of it never really sank in, although I had a bookkeeping diploma....got many years ago.... double entry was like double dutch for ages, then one day...BINGO...it made sence. I am on level 3 now and believe me I am finding that tough but hopefully it will do the same one day.

Just keep practicing and don't be afraid to ask, are you at college or home study?

Jan

Diddy Mau

jslutw wrote: »

Ive only been doing level 2 since beginning of september but am still finding it a little confusing am i the only one or will it eventually sink in

Hi jslutw,
some of this will be confusing. it's trying to learn a new way of looking at money. Yes, it will sink in, I know a friend at college who didnt understandit, then one day everything fell into place.
My advice, keep reding the information, if your at college ask the lecturers or ask people on here. always someone willing to help

Good Luck

Carl168

I think you will be ok when you come to do the exam.. once you have covered all the topics for that module things will start to click as you seem like the type that will work hard.

I'm not sure if your doing distance learning or in classroom.. but if you do choose to continue and do level 3 i would strongly suggest classroom tuition.

I think if you are currently doing level 2 in the class room try and read the material you will be covering that week before class, that way you will be able to benefit the most from asking your tutor the things you dont understand

JasonTurbo

What unit are you currently studying? I've just completed my Basic Costing studies and have moved onto the Basic Accounting 1 which I must admit is 2 or 3 steps up. Double entry seems to confuse everyone at first by the sounds of it, I've been looking at it for a couple of weeks now and it's slowly sinking in. Just keep at it, practice makes perfect after all

Pearce161

i too started lvl 2 in late september. we only got our text books last week, we're doing Basic Accounting 1. I'm studying at college and our tutor said that double entry is the hardest thing to learn, once you get a grip of that everything else is jus learning the procedures. i had done the IAB manual book-keeping lvl 1 in the summer so had a little head start and seem to be doing ok. Jus keep at it and as ppl have said eventually it will click.

mrb82

Don't worry, it will sink in one day, and quite suddenly. I understood what double entry was, but I just couldn't apply it in the practice assesments, I even failed the practice papers the week before the exam, but just keep repeating it over and over and it sinks in.

nicd1981

this helped me when i first started studying AAT

day books:

SALES credit
VAT credit
SDB debit

PURCHASES debit
VAT debit
PDB credit

Trial Balance

PALED AND CLIPS

DEBIT CREDIT


P purchase C capital
A assets L liabilities
L losses I income
E expenses P profit
D drawings S sales

If you can remember these your debits and credits will be easy
remember sales returns and purchase returns are the opposite

once your debits and credits sink in everything else will fall into place
its hard at first but i wrote this down and tried to say it over and over again before all exams and simulations
trust me it helps

nic x

jslutw

nicd1981 wrote: »

this helped me when i first started studying AAT

day books:

SALES credit
VAT credit
SDB debit

PURCHASES debit
VAT debit
PDB credit

Trial Balance

PALED AND CLIPS

DEBIT CREDIT


P purchase C capital
A assets L liabilities
L losses I income
E expenses P profit
D drawings S sales

If you can remember these your debits and credits will be easy
remember sales returns and purchase returns are the opposite

once your debits and credits sink in everything else will fall into place
its hard at first but i wrote this down and tried to say it over and over again before all exams and simulations
trust me it helps

nic x

DEBIT CREDIT


P purchase C capital
A assets L liabilities
L losses I income
E expenses P profit
D drawings S sales

bit confused on this bit as purchases on a t bar dont they go on the credit side

anisurrahman

Purchases (on credit) goes into your Credit Suppliers Account (information only/memorandum account) on the Credit side. But on your general ledgers Debit: Purchases account (treat as an Expense for the business) and then Credit: Purchases ledger control account (PLCA). When you pay your Creditors/Suppliers then Debit: PLCA (reducing your liabilities) and Credit: Bank Account (money out from the bank). Also Debit Suppliers Account (information only/memorandum account)

Ronnie