Intermediate Level

Candidates will receive a hands-on training and will know how to perform the following tasks:

• Setting up companies
• Setting up a company either as a cash accounting scheme or a standard accounting scheme
• How and when to register for VAT
• Choosing the chart of accounts that suits the firm's needs and how to customize it
• How double entry is applied in accounting software and how to customize the nominal ledger and nominal codes
• Setting up customers accounts
• Process customers batch invoices, individual invoices and credit notes Suppliers accounts setup
• Processing suppliers invoices and credit notes
• Generate reports on invoices due, customer/supplier invoice activity
• Performing error corrections
• Allocating payments and receipts of cash in a business Allocating bank payments and receipts
• Allocating Supplier/Customer Payments and Receipts Performing bank reconciliation
• Processing the VAT return and reconcile the VAT return Submitting the VAT return to HMRC
• Knowing how to deal with other VAT issues
• Performing Debtor Analysis Credit control procedures
• Candidates will perform Computerised Book-keeping, Bank Reconciliation & VAT Returns for various industry businesses, gaining a greater insight into accounting up to trial balance
• Candidates will gain strong understanding of how to prepare client's account from incomplete records, using various accounting software
• Deeper understanding of VAT - Rules of registration and de-registration Reconciliation of VAT, Completing a VAT return.
• Import and export VAT analysis
• Calculating VAT for a business with mixed zero-rated and standard-rated sales, combining Sage and Excel
• Candidates will perform Excel Spreadsheet Book-keeping and Bank Reconciliation Candidates will gain an insight into how to deal with HMRC queries
• Performing Stock Control using Computerised Book-keeping How to keep a track of Stock movements extract Bill of materials.
• Candidates will perform sales order processing, purchase order processing and stock reporting.
• Invoicing from stock and updating stock records

In the Fundamental level training candidates gain knowledge uptill quarterly accounts & submission of VAT to HMRC.

In addition to tasks completed in Fundamental level, candidates have the opportunity to cover the following in Intermediate level training.

• Internal control procedures for tangible fixed assets and cash
• Reconciliation of Control Accounts (Debtors and Creditors Control, VAT, PAYE, Wages, Directors, Bank Loans, Suspense Accounts – etc.
• Posting adjusting journal entries at month end such as Accruals,
• Prepayments,
• Depreciations, calculating depreciation using different methods VAT
• Intercompany transactions and reconciliations
• Using a Computerised accounting package of your choice. Preparing closing entries
• Preparing the Final Trial Balance
• Producing a classified profit & Loss account and Balance sheet in a Excel spreadsheet
• Dealing with HMRC queries and small tax matters
• Summaries and analyses financial data and produce reports for management purposes
• Monthly, Quarterly Management Accounts Performing banks reconciliation
• Learning about VAT management
• Running the year end procedure in Sage line 50 Accounts to close the financial year and start a new financial year

This training package is everything you need to demonstrate your competency for the following roles:

• Finance manager Financial Accountant Management Accountant
• Accounts payable manager Credit controller
• Small business Performance Analyst