1) Processing bookkeeping transactions:
- Preparing and processing customer and supplier invoices and credit notes
- Totalling and balancing a 3-column analysed cash book
- Totalling, balancing and reconciling petty cash records within an analysed petty cash book
- Understanding discounts and settlement, trade and bulk discount differences
- Understanding double-entry bookkeeping, integrating books of prime entry and describing coding system functions.
2) Processing ledger transactions and extracting a trial balance:
- Control accounts, journals and the banking system
- Maintaining and using control accounts and the journal
- Reconciling a bank statement with the cash book
- Understanding requirements of retention and storage relating to banking documents.
- Understanding the banking process and main services of banks and building societies
- Understanding the purpose and use of control accounts and journals.
The above units will be assessed using computer based test.