CAS PROJECT SUMMARY
Today is the project deadline and we managed to complete our project in time as yesterday we faced some problems. We had forgetten to add in the unique transaction in the G/L data entry form and miss out on doing the void cheques. Fortunately, we found out the mistakes early so we add and edit for it. Me and dorothy helped to write the references for the payment voucher and the cheque numbers with the guidance of Yihao who ensures that no errors were made.
To conclude, in this AccPac project, I realised that having computerised accounting system help accountants to lighten the load as it is much more efficient and faster to generate and post the transactions. From this project, I've learnt how to use the AccPac software such as setting up of the A/R and G/L system and posting the batches. I hope that this helps me in the upcoming AccPac test. In addition, I had fun working with my groupmates and working hand in hand with them is the key to handing up the project on time and successfully completed what we need to do in the checklist. Without such responsible groupmates, we would not have finished all the things required.
Koon Teng
Friday, July 17, 2009
The whole project is done...
theory was settle last.
yiwei type in the stuffs that we need to take note of,from the pinetree,with the help from dorothy and koonteng.
after that,i did the full editing at home.pretty tough, since i have to look through abit from the notes,while doing
whilethe rest touch up on what i had left out.
the printing of reports went pretty well,till we realise our mistakes,choose not do redo,and write a certain important things on the reference,which is the payment voucher and the cheque numbers.
furthermore, we realise we did not do the void,and did try it,however,i thought that there are quite a few ways to do it,and my way was pretty long-winded?
in overall,
the soft skills i learnt is the handling of accpac.i learnt that we can juz key in from AR batch list,and it will generate to GL for us(so easy), the void cheques,for good internal control purposes(grow so many white hair out for it..so hard) and pretty much alot.
in any case,i learnt that with the accpac,accountants can save so so much time den writing down..such as..GL data entry form,but it is necessary to approve to be key into accpac.
Yihao
theory was settle last.
yiwei type in the stuffs that we need to take note of,from the pinetree,with the help from dorothy and koonteng.
after that,i did the full editing at home.pretty tough, since i have to look through abit from the notes,while doing
whilethe rest touch up on what i had left out.
the printing of reports went pretty well,till we realise our mistakes,choose not do redo,and write a certain important things on the reference,which is the payment voucher and the cheque numbers.
furthermore, we realise we did not do the void,and did try it,however,i thought that there are quite a few ways to do it,and my way was pretty long-winded?
in overall,
the soft skills i learnt is the handling of accpac.i learnt that we can juz key in from AR batch list,and it will generate to GL for us(so easy), the void cheques,for good internal control purposes(grow so many white hair out for it..so hard) and pretty much alot.
in any case,i learnt that with the accpac,accountants can save so so much time den writing down..such as..GL data entry form,but it is necessary to approve to be key into accpac.
Yihao
Thursday, July 16, 2009
CAS Reflection!
During our short holiday our group meet up in sch to do our cas, it’s pretty fast that we completed quite alot during the 2meeting. The 3rd meeting we will already started doing the AR system, we uses the accpac book to follow step by step for the set up. AR have the most entry that needed to be key in n whatever we type in we must be very careful so that there will be no mistake. Me, Dorothy n koon teng will not sure bout how to do the recurring entries, luckily we have yi hao n yi wei who try to find out how to do and will flipping the book here n there to find the source documents. While deciding on what our unique transaction, yi hao wanted us to give some opinion. Our group did a quite a few mistakes like keying in the amount wrongly but luckily yi wei always save a previous copy n we have to close the company n copy paste n redo again which i find it so troublesome. The most tedious part i think is the AR and recurring entries, quite a few question im not sure how to do.
Ended our AR, started with our AP which we have to go vbus n find the resources notes to do the setup. For our AP we completed quite fast because is pretty much the same as the AR, n me n yi hao find document from the accounting practice set n read out for yi wei to key in.
On 3july to 10july, me, koon teng n Dorothy take turns to key in 37 GL data entry form manually n yi wei did the GL form for opening balances. I find it is time consuming because yi hao have to check 3 times to ensure that we did not make any mistakes. We are confused about who should we type in the approved n prepare the GL entry form but end up yi hao find a solution. he did a segregation of duties among us so that it’s easier to know who should prepared which document. While, Yi hao n yi wei will doing the void transaction.
On 13july, we thought of binding it but yi hao realise we make a big mistake on our printed report. We never save n print the unique transaction form and we never include the cheque no and the payment voucher no. Therefore we have to do it manually, we separate the report into 3 sets to write after finish n handle it to yi hao for double check. Ensure no problem we bind n hand in on 17july.
Reflection: Overall, I have learnt that teamwork is important to me and we should be responsible on what we should handle so that our groupmates will be able to trust me. It is easier that i have to read the project specs and understand what’s going on before getting started on our project, anything im not sure i will also clarify with my groupmates they are also willing to explain to u. Accpac is a system that can save time and finding any transaction easy n fast. Lastly, im happy to work with my groupmates, they are responsible n efficient on their work therefore we can hand in on time with good quality work.
PEI PEI
Ended our AR, started with our AP which we have to go vbus n find the resources notes to do the setup. For our AP we completed quite fast because is pretty much the same as the AR, n me n yi hao find document from the accounting practice set n read out for yi wei to key in.
On 3july to 10july, me, koon teng n Dorothy take turns to key in 37 GL data entry form manually n yi wei did the GL form for opening balances. I find it is time consuming because yi hao have to check 3 times to ensure that we did not make any mistakes. We are confused about who should we type in the approved n prepare the GL entry form but end up yi hao find a solution. he did a segregation of duties among us so that it’s easier to know who should prepared which document. While, Yi hao n yi wei will doing the void transaction.
On 13july, we thought of binding it but yi hao realise we make a big mistake on our printed report. We never save n print the unique transaction form and we never include the cheque no and the payment voucher no. Therefore we have to do it manually, we separate the report into 3 sets to write after finish n handle it to yi hao for double check. Ensure no problem we bind n hand in on 17july.
Reflection: Overall, I have learnt that teamwork is important to me and we should be responsible on what we should handle so that our groupmates will be able to trust me. It is easier that i have to read the project specs and understand what’s going on before getting started on our project, anything im not sure i will also clarify with my groupmates they are also willing to explain to u. Accpac is a system that can save time and finding any transaction easy n fast. Lastly, im happy to work with my groupmates, they are responsible n efficient on their work therefore we can hand in on time with good quality work.
PEI PEI
Wednesday, July 15, 2009
CAS Projection Summary
We started our CAS Project during the 1st week of the mid-term break. On the 1st day, we met at 9am but were not really quite sure on how to start as they were quite a few points to take note of. After reading through the project kit and appendices posted on VBUS, we started the project with the chart of accounts.
This task was rather easy to follow but there is a lot of accounts and information that we have to input in the ACCPAC system. Each of us in the group has something to do. I was the one typing in the accounts and other information, while dorothy, koon teng and pei pei are the ones deciding on what information is suppose to go into the respective accounts. Yi Hao is in charge of checking if anything is inputted wrongly and he also ensures that the entries posted are in the respective accounts. Yi Hao also facilitates the progress of the project and plan out what should we do on the upcoming days.
The 1st day was basically a slow start but we manage to finish the chart of accounts and did a bit on the GL system. Each of us were given a task to do, either reading up the accpac manual or reading up the source documents, etc...
The 2nd and 3rd day was all about setting up the batch list in the GL system, this includes the transaction, balance day adjustments and recurring entries. We faced some problems along the wat regarding how should the particular transaction be posted into the ACCPAC system and how is the double entry going to be like. The recurring entries also posted a problem to us and we discussed our different opinions on the entries so as to come up with a solution which we all agreed upon. The ACCPAC manual that we refer to during tutorials really came in handy as it guides us through some of the problems that we faced with the system.
Following up the GL system was the AR system. This was, in my opinion, the most tedious task as compared to the other tasks so far as there are many details that have to be taken into account and even more information that has to be input into the system. Each of us took turns to contribute to type in the details.
After the AR system was the AP system. The process was pretty much the same. There were also notes to follow to guide us through the setting up of the AP system. Nevertheless problems do 'pop up' from time to time but we manage to solve them through discussions and also seeking some help from the tutors.
The GL manual entry form definitely reflects how far technology has come thus far. It was way easier to input the information into the ACCPAC system rather than keying in every entry onto the form. It was a tough task that we took a few days to complete.
Reflection
Well for a start, the subject CAS and the ACCPAC project has taught me how to use the ACCPAC software and also introduce me to how firms using the software do their day-to-day entries and process. It is also much more efficient to use the system as compared to recording the documents in accounting books(physical vs digital). It was also a great experience to have a practical example(pinetree) for our project and also working with my groupmates to complete the task.
Teo Yi Wei
We started our CAS Project during the 1st week of the mid-term break. On the 1st day, we met at 9am but were not really quite sure on how to start as they were quite a few points to take note of. After reading through the project kit and appendices posted on VBUS, we started the project with the chart of accounts.
This task was rather easy to follow but there is a lot of accounts and information that we have to input in the ACCPAC system. Each of us in the group has something to do. I was the one typing in the accounts and other information, while dorothy, koon teng and pei pei are the ones deciding on what information is suppose to go into the respective accounts. Yi Hao is in charge of checking if anything is inputted wrongly and he also ensures that the entries posted are in the respective accounts. Yi Hao also facilitates the progress of the project and plan out what should we do on the upcoming days.
The 1st day was basically a slow start but we manage to finish the chart of accounts and did a bit on the GL system. Each of us were given a task to do, either reading up the accpac manual or reading up the source documents, etc...
The 2nd and 3rd day was all about setting up the batch list in the GL system, this includes the transaction, balance day adjustments and recurring entries. We faced some problems along the wat regarding how should the particular transaction be posted into the ACCPAC system and how is the double entry going to be like. The recurring entries also posted a problem to us and we discussed our different opinions on the entries so as to come up with a solution which we all agreed upon. The ACCPAC manual that we refer to during tutorials really came in handy as it guides us through some of the problems that we faced with the system.
Following up the GL system was the AR system. This was, in my opinion, the most tedious task as compared to the other tasks so far as there are many details that have to be taken into account and even more information that has to be input into the system. Each of us took turns to contribute to type in the details.
After the AR system was the AP system. The process was pretty much the same. There were also notes to follow to guide us through the setting up of the AP system. Nevertheless problems do 'pop up' from time to time but we manage to solve them through discussions and also seeking some help from the tutors.
The GL manual entry form definitely reflects how far technology has come thus far. It was way easier to input the information into the ACCPAC system rather than keying in every entry onto the form. It was a tough task that we took a few days to complete.
Reflection
Well for a start, the subject CAS and the ACCPAC project has taught me how to use the ACCPAC software and also introduce me to how firms using the software do their day-to-day entries and process. It is also much more efficient to use the system as compared to recording the documents in accounting books(physical vs digital). It was also a great experience to have a practical example(pinetree) for our project and also working with my groupmates to complete the task.
Teo Yi Wei
Tuesday, July 14, 2009
On our third meeting, we did g/l data entry form. Koon Teng, Pei Pei and I did the referencing and helped to key in the different details for the data entry form. We also referred to the accounting practice set and the details in the accpac system we have done so far. With the help of all my group members, we managed to complete the g/l data entry form within 2 meetings. We then continue on the internal control for PineTree. Koon Teng, Peipei and I helped with finding the information while YiWei keyed in the details into the accpac system.
On the forth meeting, we continued with the g/l data entry form while YiHao and YiWei helped with the Internal Control.
With this project, I have learnt certain softskills that are important to me. I have learnt how to cooperate with all my group members and to be a responsible team mate. I must be a reliable team mate in order for my group members to trust me. I must also be prepared by reading the project specs before hand in order to understand the things that are discussed. By being on time, i will be more prepared to start doing the project and contribute responsively. Accpac is a system that requires patience, therefore, in order to do it well, i will have to learn how to be patient. These are the softskills that i have learnt throughout my Accpac project.
I think they are useful in my character development.
Dorothy
On the forth meeting, we continued with the g/l data entry form while YiHao and YiWei helped with the Internal Control.
With this project, I have learnt certain softskills that are important to me. I have learnt how to cooperate with all my group members and to be a responsible team mate. I must be a reliable team mate in order for my group members to trust me. I must also be prepared by reading the project specs before hand in order to understand the things that are discussed. By being on time, i will be more prepared to start doing the project and contribute responsively. Accpac is a system that requires patience, therefore, in order to do it well, i will have to learn how to be patient. These are the softskills that i have learnt throughout my Accpac project.
I think they are useful in my character development.
Dorothy
Sunday, July 12, 2009
The soft skills I've learnt:
In this project, I've learnt that being patient is very important as there are many data to key in and must be very careful. I learnt that being a responsible group member is to be able to fulfil their roles and staying on task. It is always important to be able to know what we need to to beforehand as this gives us the preparedness we need during the meeting. By being actively contributing ideas and explaining them to group members whenever they are in doubt makes the project meeting more efficient and go more smoothly.
In addition, it is good to listen to other opinions rather than sticking to your own ideas. By being always on time for projects can help to complete the tasks earlier and we should not do the project at the last minute as last minute do not produce good quality work. I also feel that one should do our own part in the project. This help to speed up the process of everything. In my opinion, having good leadership qualities is crucial in leading the group and makes sure everything goes according to the plans. Being disciplined is also one of the important qualities I've acquired as being disciplined, you will be able to finish the task on time on that particular day.
Koon Teng
In this project, I've learnt that being patient is very important as there are many data to key in and must be very careful. I learnt that being a responsible group member is to be able to fulfil their roles and staying on task. It is always important to be able to know what we need to to beforehand as this gives us the preparedness we need during the meeting. By being actively contributing ideas and explaining them to group members whenever they are in doubt makes the project meeting more efficient and go more smoothly.
In addition, it is good to listen to other opinions rather than sticking to your own ideas. By being always on time for projects can help to complete the tasks earlier and we should not do the project at the last minute as last minute do not produce good quality work. I also feel that one should do our own part in the project. This help to speed up the process of everything. In my opinion, having good leadership qualities is crucial in leading the group and makes sure everything goes according to the plans. Being disciplined is also one of the important qualities I've acquired as being disciplined, you will be able to finish the task on time on that particular day.
Koon Teng
Tuesday, July 7, 2009
The next meeting was to meet up to do on the theory questions about the internal controls of Pinetree. Dorothy and me contributed by researching for the answers while Yiwei helped by typing as well. We did on the general data entry form as well. It was very slow and tedious as it was manual keying in everything. Dorothy, me and Pei Pei took turns to complete the data entry form while one of us would find for the details such as the accounts affected. We met up 2 times to complete all the entry forms. After completing about 47 data entry forms, I realised that doing it manually is very time-consuming and errors may be made without us realising. From here, having a computerised accounting system is so much efficient and will help to prevent errors by having input validation etc.
Koon Teng
Koon Teng
Subscribe to:
Posts (Atom)