Unit 2 Assessment task

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Help I am having problems with the wordings of some of the questions ..for example "draw up the bacs schedule for the wages ... fine I have done that ... but then complete the cheque to cover the payment ?????? What the payment of the wages that we have already made up a bacs schedule for .. payable to whom????? It doesn't make sense I have assumed it means the inland revenue payment is this right?

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Unit 2 Assessment task

    A Bacs payment is like a cheque but easier and better.<BR><BR>For example - you have 300+ employees to pay wages to, that would be alot of cheques to write out to the employees. Instead you do a BACS report.<BR><BR>The BACS report has the employees name and bank details on and the amount you wish to pay the employee. (I think for simple terms AAT dont but the bank details on the BACS reports) but in a real situation without bank details BACS wont go thorough.<BR><BR>Then you send / fax the BACS report to your company bank within a time scale and just like magic in 2 days - all the employees are paid into there bank account. The full amount will also come out of the company account the same day.<BR><BR>The BACS systems are getting more and more secure and I dont think there is many banks that still do the fax version, but as with AAT studies - everything is taught manual!!<BR><BR>Amanda

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