FNS40217 Certificate IV in Accounting and Bookkeeping - Module 1.1 Tutoring

Question. 3

a. Surveying Consultants provides surveying services and are registered for GST in accordance with the legislative and regulatory requirements relating to financial transactions for businesses of their size.

Their services are mainly surveying services: revenue accounts are set up as Surveying Fees (A/C 410) and Other Fees (A/C 411).

1. What type of documents are these?
2. What information should be included in such a document, and has this been done?
3. Please record the information from these documents, per the firm’s organisational procedures, in the Cash Receipts Journal for August using the following template.

b.

1.  List 3 key details you need to look for on a cheque to ensure the cheque is valid?
2. What checks does the EFTPOS system perform before processing an EFTPOS transaction?
3. From the information provided below, you are required to complete a receipt.  Chemco Pty Ltd received a cheque from AC Cleaning on 1 June 2018 for the amount of $240 being payment for their account.

c. Describe the banking procedures that could be used for depositing batch cheques and cash using a deposit slip. Include the details that should be included in the deposit form.

d. Identify some industry-accepted security and safety precautions when transporting cash from a workplace to a bank.

e. What documentation is provided to a business as ‘proof of lodgement’ for banking monies? How would you file these?

Tip: Think about whether you would file these with other records/documents and if in any specific order.