Look at GL Balance by period / department
Scenario: Used to analyse trends in Expense accounts / accounts in general to spot spikes or errors. Usually done by accounts when they are investigating posting errors in accounts
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Practise Task:
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View chart of accounts
Show different views
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Set accounting Periods & Posting Date Ranges
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Scenario: It is just about the start of a new end of month accounting period and you need to set the new accounting period ready for posting in to.
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Practise Task:
Record the steps to close the previous month and to allow posting into the new month.
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Set Exchange Rates
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Scenario: Exchange rates fluctuate regularly and therefore they should be regularly updated in the system. It is not time to update these again in the system.
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Practise Task:
Your trainer will advise you on which exchange rate you are to set.
Use the XE Website to get the latest exchange rate.
Update the exchange rate in the system
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Run the Adjust Exchange Rates Batch Job
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Scenario: Every Month – need to revalue customer/vendor/bank foreign balances. Demonstrate the routine to update balances and post FX unrealised gains and losses.
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Practise Task:
Set the new Exchange Rates
Enter Start & End dates
Leave description field as default ‘Exchange Rate Adjmt. of %1 %2’ explain %1 %2
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Complete Month and Year End Finance procedures
Scenario: It is the end of the year and you need to close Income statement for a new year of trading. This process transfers income for current year to the Balance sheet. It should be done after the auditors have concluded the audit.
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Practise Task:
During this practise activity you will process the following:
FX Adjustments
Items/Parts revaluations
Manual GL Jnls
Year End
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Run Vehicle Revaluation Journals
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You will now be given some time to practice the Role tasks that you have learning today.
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There will be a test that covers each of these afterwards.
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Speak to your trainer when you are ready to start your test.
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Good luck!