22. Control Accounts, Journals and the Banking Systems (AAT)

The content of this particular qualification includes the following:

• 22.01. Banks, building societies & payment systems: BANKS & BUILDING SOCIETIES IN THE UK, BANK SERVICES FOR THE BUSINESS CUSTOMER, CASH, CHEQUES, CHEQUE CLEARING, PAYMENT BY PLASTIC CARD, BANK GIRO CREDITS, ELECTRONIC PAYMENTS BY COMPUTER, ONE-OFF' LARGE PAYMENTS, CHAPS, PAYMENT CYCLES & THE BANK BALANCE, RETENTION OF BANKING DOCUMENTS.
• 22.02. Making payments: OUTGOING PAYMENTS, PAYING TRADE SUPPLIERS, REMITTANCE ADVICES, PAYMENT BY BANK GIRO CREDIT, CONTROL & AUTHORISATION OF PAYMENTS, STANDING ORDERS, BACS DIRECT CREDITS, BACS DIRECT DEBITS, ELECTRONIC & PAPER-BASED LARGER PAYMENTS, COMPANY CREDIT CARDS, ONLINE BANKING.
• 22.03. Receiving & recording payments: INCOMING PAYMENTS, CASH, ACCEPTING CASH, DISHONOURED CHEQUES, ACCEPTING CARD PAYMENTS, CARD PAYMENTS - OLD-FASHIONED METHODS, CHECKING PAYMENTS AGAINST DOCUMENTATION, RECORDING MONEY RECEIVED.
• 22.04. Paying into the bank: PAYING-IN SLIPS, PROCEDURES FOR PAYING IN, CARD VOUCHER CLEARING - CARD MERCHANT SERVICES, THE IMPORTANCE OF PAYING IN PROMPTLY, AUTOMATED PAYMENTS INTO THE BANK, PAYMENTS THROUGH THE INTERNET, BANK STATEMENTS.
• 22.05. Bank reconciliation statements: RECEIVING THE BANK STATEMENT, THE BANK RECONCILIATION STATEMENT, PREPARING A BANK RECONCILIATION STATEMENT, DEALING WITH UNUSUAL ITEMS ON BANK STATEMENTS, RECONCILIATION OF OPENING CASH BOOK & BANK STATEMENT BALANCES, IMPORTANCE OF BANK RECONCILIATION STATEMENTS.
• 22.06. Using control acounts: THE GENERAL PURPOSE OF CONTROL ACCOUNTS, SALES LEDGER CONTROL ACCOUNT, PURCHASES LEDGER CONTROL ACCOUNT, SET-OFF/CONTRA ENTRIES, VALUE ADDED TAX (VAT) CONTROL ACCOUNT, CONTROL ACCOUNTS AS AN AID TO MANAGEMENT.
• 22.07. The journal: MAINTAINING THE JOURNAL, THE JOURNAL - A BOOK OF PRIME ENTRY, OPENING ENTRIES, IRRECOVERABLE DEBTS WRITTEN OFF, PAYROLL TRANSACTIONS, MAKING JOURNAL ENTRIES.
• 22.08. The trials balance & correction of errors: EXTRACTING A TRIAL BALANCE, ERRORS IN THE ACCOUNTING SYSTEM, ERRORS NOT DISCLOSED BY THE TRIAL BALANCE, ERRORS NOT DISCLOSED BY THE TRIAL BALANCE: JOURNAL ENTRIES, TRIAL BALANCE ERRORS: USE OF SUSPENSE ACCOUNT, ERRORS DISCLOSED BY THE TRIAL BALANCE: JOURNAL ENTRIES, REDRAFT THE TRIAL BALANCE FOLLOWING ADJUSTMENTS.

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