Elements and Performance Criteria
- Implement an integrated accounting system
- The general ledger, chart of accounts and subsidiary accounts are implemented in accordance with organisational requirements, procedures and policies
- Customers, suppliers and inventory items are set up in the system to meet organisational requirements and the reporting requirements of Goods and Services Tax (GST)
- Appropriate technical help is used to solve any operational problems
- Process transactions within the system
- Input data is collated, coded and classified before processing
- A wide range of cash and credit transactions are processed in both a service and trading environment
- The general journal is used to make any balance day adjustments for prepayments and accruals
- System output are regularly reviewed to verify the accuracy of data input and adjustments made for any detected processing errors
- An end of financial year rollover is performed
- Maintain the system
- Any new general ledger accounts, customer, supplier, inventory and fixed asset records are added as required
- An existing chart of accounts, customer, supplier, inventory and fixed asset records and subsidiary accounts are maintained and updated
- The chart of accounts is customised to meet the reporting requirements of the organisation
- Produce reports
- Reports to indicate the financial performance and financial position of the organisation and for GST purposes are generated as required or requested
- Reports to ensure that subsidiary ledgers and accounts reconcile with the general ledger are generated
- Reports, which ensure that the bank account reconciles with the bank statement, over at least two reporting periods are generated
- Ensure system integrity