Today was our 2nd meeting and as usual at 9am, lab 8. We continued our CAS from where we have stopped and continued with the recording of fixed asset,recurring entries, balance day adjustments,prepayments. We encountered some problems for the fixed asset as we did not know what entries are affected for the source documents 63 to 65 and had a hard time solving it. For the recurring entries, we created a batch for it. However, all of us took a while to figure out which entries are considered as recurring. Next, Dorothy, me and Pei Pei came up with the unique transaction for our group and we did the set up for the A/R system and ended at 5.

From today's meeting, I learnt that recording and identifying of recurring entries do help us in saving alot of time as we do not need to key in again every period the recurring transactions occur. In addition, being able to cooperate well with my group members is very crucial as without it, we would meet with lots of difficulties not solved. I think there should be discipline within the group, so as to able to complete what we have aimed to finish on that day itself.

Koon Teng