Task 1 - Practical exercise

Use the Excel template provided: FNSACC321_322_AT2_TMP_TQM_v1.xlsx

Complete the following tasks:

1. Process transactions

Refer to the list of transactions at Appendix C. You are required to process these transactions in accordance with and using relevant information from the policies and procedures of Gold Catering. As part of the processing, you will be required to carry out the following tasks:

1. Prepare all journals (PJ, SJ, CRJ, CPJ and one GJ) for the transactions listed (enter into the Template provided - spreadsheet tab named "Journals"). Remember to enter relevant transactions into the Accounts Receivable and Accounts Payable Subsidiary Ledgers as well. Note: you must not process a General Journal for every transaction.

Prior to processing ensure cheques and electronic payments are valid and authorised as per organisational policies and procedures.

Check that your journals balance (debits = credits)

1. Prepare Invoices, Adjustment Notes, Receipts, Remittance Advices, Cheque Requisition, Statement of Account and Cheque. Use the organisational documents which are in the Template provided - spreadsheet tabs named "Source Docs" and "Banking & Bank Rec". Refer to App C - you only need to prepare those transactions that are in boldand indicated as "prepare".

1. Prepare the banking summary for the 30/6/2022 (enter into the Template provided - spreadsheet tab named "Banking & Bank Rec").

1. Ensure that that all required entries have been made to the Accounts Receivable and Accounts Payable Subsidiary ledgers ("Subsidiary Ledgers" tab).

1. Complete the Accounts Receivable and Accounts Payable reconciliations for 30 June 2022 showing the aged accounts (enter into the Template provided - spreadsheet tab named "Acc Rec & Pble").

Note: Once you have completed this exercise correctly "DOES NOT RECONCILE" should change to "Reconciled".

1. Report actions required for the outstanding Debtors and Creditors per Gold Catering Policies & Procedures Manual (Use organisational documents which are representative of industry best practice. Complete using the Templates provided - spreadsheet tab named "Acc Rec & Pble").

1. Prepare a written report for your supervisor advising him of any outstanding debtors and your recommendations for them.

Prepare a generic email to be sent to debtors who have an account that is one month overdue.