View Unit : Setting up accounting software to manage accounting information

Unit

Unit Reference Number

F/601/3649

Qualification Framework

QCF

Title

Setting up accounting software to manage accounting information

Unit Level

Level 2

Unit Sub Level

None

Guided Learning Hours

Unit Credit Value

Date of Withdrawal

SSAs

15.1 Accounting and Finance

Unit Grading Structure

Pass

Assessment Guidance

none

View Unit's Qualifications

Learning Outcomes and Assessment Criteria

Learning Outcome - The learner will:		Assessment Criterion - The learner can:
1	Be able to enter and/or restore data using a Computerised Accounting Package at the start of the financial year	1.1	Enter and/or restore data accurately, for example:- • Company Name and Address • Financial Year • Program Date • Customer Details • Supplier Details • Nominal Accounts • VAT scheme
2	Be able to set up Assets, Liabilities, Capital and Budgets	2.1	Enter nominal account opening balances
2	Be able to set up Assets, Liabilities, Capital and Budgets	2.2	Enter budgets
3	Be able to record customer and supplier invoices and credit notes	3.1	Enter invoices and credit notes into the correct customer and supplier accounts, using the data and appropriate reference details
4	Be able to process receipts from customers	4.1	Allocate monies received by cheque, cash and automatic transfer to the correct customer account, for example: • Part payment • Payments made on account • Payments taking account of credit notes • Payments taking account of previous payments on account • Settlement discount
		4.2	Enter the correct reference and date
		4.3	Identify amounts owed by customers
		4.4	Process bad debts, contra entries and dishonoured cheques
5	Be able to process payments to suppliers	5.1	Allocate monies paid by cheque, cash and automatic transfer to the correct supplier account, for example:- • Part payment • Payments made on account • Payments taking account of credit notes • Payments taking account of previous payments on account • Settlement discount
		5.2	Enter the correct reference and date
		5.3	Identify amounts due for payment to suppliers
		5.4	Process contra entries
6	Be able to process non-credit payments and receipts	6.1	Process cash and cheque payments and receipts for expenditure and income made on a non-credit basis
6	Be able to process non-credit payments and receipts	6.2	Calculate the tax element (eg VAT) where the gross amount and the rate of tax is given, for both payments and receipts
7	Be able to process Journals	7.1	Process Journals for at least three of the following transactions: • Record the purchase of new fixed assets • Make simple corrections to Nominal Ledger accounts • Record goods taken by the owner for own use where tax (e.g. VAT) is not involved • Record assets introduced by the owner • Process bad debts from non-credit customers
8	Be able to produce reports using selection criteria and parameters	8.1	Produce a variety of routine reports using correct selection criteria and parameters, for example:- • Customer and Supplier Address Lists • Customer and Supplier Histories/Activity • Aged Debtors and Aged Creditors Analysis • Remittance Advice Notes • Customer Statements • Budget Reports • Nominal Account Activity • Audit Trail • Trial Balance

Equivalent Units

There are no equivalences to display.