Home For AAT student members AQ 2016 Foundation Certificate in accounting Bookkeeping Controls

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danielle93danielle93 Registered Posts: 17
Well , I am practising the sample assessments and I have uploaded 2 pictures too. On the level 2 , control accounts , task 6. There is a cheque of 698 which has not been included in the results of the assessment. Is it something that I'm missing ? I would appreciate a quick reply as I've got my exam coming soon.

Comments

  • danielle93danielle93 Registered Posts: 17
  • GeorgiaHGeorgiaH AAT Student Posts: 107
    Hi Danielle

    I think the reason for the cheque not being on May's cash book is because if you notice all cheques in may run from number 011382-011387 all in order but the cheque for £698 is number 011365 meaning it was written before Mays cheques. For example it could have been written in april but not banked until May which is why it is on May's bank statment

    Does this make sense?
  • danielle93danielle93 Registered Posts: 17
    Hello Georgia

    Yes, it does make a lot of sense. But I did not know that we have to be aware on the numerical order of the cheque. Have a fantastic day and thank you for your time.
  • AC88AC88 AAT Student Posts: 44
    @danielle93 Is there any writing at the top of the question? above the workings?
  • GeorgiaHGeorgiaH AAT Student Posts: 107
    Your very welcome.

    I completed level 2 3 years ago now but since the spec has changed in 2016 I don't remember having any questions like the one above but that is the only reason I could think of so i may be wrong.

    Thanks have a lovely day good luck in L2 :)
  • danielle93danielle93 Registered Posts: 17
    @ac88 I have uploaded the top bit.
  • danielle93danielle93 Registered Posts: 17
    ??
  • AC88AC88 AAT Student Posts: 44
    @danielle93 I think @GeorgiaH is right with the numbers on the cheques being the reason.

    Look at how Gaye Green and Robson Ltd are in the bottom but not top, so these cheques would've been sent as they show in the cashbook but not cashed yet as not showing on the bank statement.

    FYI - Often known as a reconciliation difference
    GeorgiaH
  • amylouisejudsamylouisejuds AAT Student Posts: 4
    @danielle93 if you subtract the balance b/f on the cash book from the balance b/f on the statement this will amount to 698 - you can then mark this off and it will not need to be entered into the cash book. (1466-768=698)
  • Pian32Pian32 MAAT Posts: 338
    The logic to follow is that if there are no outstanding amounts the balances will start at the same value. As they are not there was something outstanding or not included in the previous month.

    The amount outstanding has to total £698. In this case that matchs the cheque in question sometimes it might be multiple items.

    I found the best thing to do was to remove the obvious matches and then compare what is left with the opening balance difference. You can normally narrow down the options logically, (e.g some amounts might be too large to consider or have to be included.)
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