|
1. Company data files
set up the data file and chart of accounts for
a sole trader
2. Chart of accounts
(a) create, edit and delete accounts
(b) generate the company's chart of accounts
3. Cash books
(a) record:
• cash sales and other receipts
(including bank interest earned)
• cash purchases and other payments
(including bank charges)
• petty cash transactions
(b) reconcile the balance between the
bank statement and the cash books
(c) generate:
• the bank reconciliation report
• cash receipts and disbursement reports
4. General ledger
(a) set up fixed assets and depreciation
accounts
(b) record the journal entries for depreciation
5. Sales ledger
(a) create new customers and enter
customer information
(b) set up payment terms and credit
limits for each customer
(c) generate:
• customer listing
• sales invoices
• credit notes
• accounts receivables aging reports
• customers' statement of accounts
(d) create sales invoices
(e) enter adjustments for:
• pricing
• quantity differences
• returns inwards
(f) record customers' payments details
6. Purchase ledger
(a) create new vendors and enter vendor
information
(b) set up payment terms for each vendor
(c) generate vendors listing
(d) create purchase orders
(e) convert purchase orders to supplier
invoices
(f) record goods received
(g) record goods outwards
(h) enter payments details
(i) generate payables aging reports
7. Inventory
(a) create item codes and enter item details
(b) enter sales transactions involving
inventory items, including returns inwards
(c) enter purchases transactionsi nvolving
inventory items, including returns outwards
(d) enter adjustments for pricing or stock
differences
(e) generate stock reports
(f) reconcile the closing balance in the stock
reports and stock in hand
8. Reports and file maintenances
(a) generate the following reports:
• trial balance
• balance sheet
• profit and loss statement
(b) back up the data file
|
|
1. Company accounts
(a) set up the datafile the chart of accounts for
the following:
• partnerships
• limited liability companies
(b) generate accounts listing for the various
types of companies
(c) perform the necessary steps to distribute
partnership profits at theend of the
accounting period
(d) record the following for a limited liability
company:
• increase in capital contribution
• issuance of new shares
• payment of dividends
2. Tracking profitability of departments and jobs
(a) set up various profit centres
(b) record sales and expenses and allocate these
to various profitcentres
(c) generate reports relating to a selected profit
centre or all profit centres
3. Multi-currency transactions
(a) set up control accounts to handle multiple
currencies
(b) specify currency codes and exchange rates
(c) record sales and purchases involving multiple
currencies
(d) update the various exchange rates and
record unrealised exchange gains or losses
at the end of period
(e) generate exchange gain or loss reports
4. Debtor management
(a) customise and generate the debtor ageing
report
(b) perform the following tasks to factor debts
to a factoring entity:
• set up the factoring account
• record payments received
• record factoring charges
• close debtor accounts
(c) account for transactions in situations where a
customer is also a supplier using the
following methods:
• cash received method
• debit note method
(d) perform the steps to record:
• provision for bad debts
• writing off bad debts
5. Advanced inventory management
(a) perform the following tasks will respect to
traded-in items:
• modify the chart of accounts to account
for traded-in items
• set up the traded-in inventory items
• record traded-in items and payments
(b) account for consignment stock as:
• a consignor
• a consignee
6. Year-end procedures and maintenance
(a) make end-of period adjustments to:
• accruals
• prepayments
(b) close the current financial year and start a
new financial year
7. Reports and analysis
(a) customise and generate reports including:
• multi-period balance sheet
• multi-period profit and loss statement
• transaction journals
• budget analysis
(b) enter monthly budgets
(c) compare actual company performance
against budgets |
