Thursday, July 16, 2009
9:11 AM
10/6/09 - We did all the admin stuffs such as entering in the opening balances, creating accounts, and creating vendor and customers groups, and also write down all the entries for the source docs on a paper. We help each other throughout the process. We take turns to read the account number to the typer.
11/06/09 - Do AR and AP opening entries and completed the GL Journal entries. We discuss on the double entry at the start of the day to check through, making sure there are no mistakes.
12/06/09 - We create batches for invoices, purchases, sales returns, purchase returns, receipts and payments.We help each other out for the day.
16/06/09 - We create recurring entries and balance day adjustments, we also re-check through the journal entries and make amendments to it.
26/06/09 - We have our face-to-face meet up tutorial, but we couldnt do anything that day after school as the thumbdrive that contained our backup file was infected with a deadly virus.
1/07/09 - We do up the GL data entry form(Opening balances, transactions occurring in the month, and balance day adjustments) and did the theory questions together.
15/07/09 - We re-check through everything once more. Posted everything, and printed all the reports that are required for the hardcopy submission.
Overall, I have learnt that time management is very important, as the time required to do this project is very long, thus to finish on time, we have carefully planned the time.
Teamwork is also very important as this project needs the help of the whole group to complete.
2:29 AM