Trial Balance tips

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hi guys ive just been in my managers office and hes had a right go at me for not taking time off to study haha, so ive just finished my VAT work and starting the june 2004 paper. Anyway i need advice on the trial balance.<BR><BR>Im clear about everything that should go on the debit and credit sides and so on but i would just like to know. If for some reason my trial balance doesnt balance and i cant find a way to make it balance do i just open up a suspence account? Will the examiner accept this? <BR><BR>Id also like to thank everyone who has helped me with my questions and a big thanks to Amanda and Tracey for all their help. Good luck for tuesday everyone.<BR><BR>Chris.

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Trial Balance tips

    Yes open the suspense... by leaving the TB unbalanced will lose you more marks thats opening the suspense. <BR><BR>If you start to run out of time - move on - do the other questions and then go back to the TB at the end if you have time left and work on it.<BR><BR>Do not keep trying to get the TB to balance - you will lose time, Yes you might gain the 1 extra point but lose on all the others you wont have time to do!!!<BR><BR>Keep calm, you have studied all you can - therefore you can only give it what you have.<BR><BR>Amanda
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Trial Balance tips

    If your tb does not balance due to a carried forward error, as long as your procedures are right you will only loose a few marks.<BR><BR>Like Amanda said, if you cant get your tb to balance move on and come back to the question.<BR><BR>If you have time afterwards go over your main ledger accounts slowly.<BR><BR>Just do as many past papers as possible and you will be fine.<BR><BR>Goodluck

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