process accounts payable and receivablesection+five+2014+v5… · of the accounts payable control...

Faculty of Business and Computing

FACULTY OF BUSINESS & COMPUTING

PROCESS ACCOUNTS PAYABLE AND RECEIVABLE

BSBFIA303A

SECTION 5

LEARNER GUIDE – PAYMENTS AND STATEMENTS

Faculty of Business and Computing of 27 BSBFIA303A – Process Accounts Payable and Receivable – Section 5 Learner Guide Payments and Statements V5 - 1 February 2014

ACCOUNTS PAYABLE LEDGER MANUAL SYSTEM - CONTINUED When the journals have been completed, the information needs to be transferred to the Accounts Payable Ledger cards. Each card represents an account of transactions between the business and the supplier. Once the posting of the three journals to the ledger cards has been completed, you must then check the arithmetical accuracy of your postings to the Accounts Payable Ledger by: preparing a Schedule of Accounts Payable balances, and

reconciling the Schedule with the Accounts Payable Control account in the General Ledger.

The information from the journals for Middle Park has been transferred to the Supplier Ledger cards. You are required to calculate the balance for each of the suppliers and strike a balance for the Accounts Payable Ledger. Before you do this, check that the total of the Accounts Payable column in each of the journals from Section 2 agrees to the totals in the Accounts Payable Control Account below. GENERAL LEDGER of MIDDLE PARK DISTRIBUTORS (extract)

CASH AT BANK ACCOUNT 1.1

Date Particulars Folio

Debit Credit Balance

MAR 01 Capital G1 5000 00 DR 31 Sundry Receipts CR1 14046 05 19046 05 DR Sundry Payments CP1 9698 93 9347 12 DR

ACCOUNTS PAYABLE CONTROL ACCOUNT 2.1

Date Particulars Folio

Debit Credit Balance

MAR 01 Capital G1 2506 90 CR 31 Purchases S1 1510 50 4017 40 CR Purchases Returns and Allowances SR1 65 42 3951 98 CR Cash Payments, Discount Received CR1 1802 22 2149 76 CR

REMEMBER THAT ACCOUNTS PAYABLE ARE MONIES OWING SO YOU NEED TO FOLLOW THE LIABILITY RULES (SEE SECTION 1) FOR POSTING TRANSACTIONS.

Transactions that will increase amount owed to suppliers CR

LIABILITIES CR Balance Transactions that will decrease

amount owed to suppliers DR

ACCOUNTS PAYABLE LEDGER OF MIDDLE PARK DISTRIBUTORS


M FINCH & CO AP 1 Date Particulars Folio Debit Credit Balance

MAR 01 Capital G1 726 00 CR

Purchases, Tax Invoice 12 P1 424 82 07 Cash Pay, Disc Rcvd, EP CP1 726 00 12 Purchases Ret & Allow, TAN 123 PR1 17 40 22 Purchases, Tax Invoice 17 P1 286 22 30 Purchases, Tax Invoice 65 P1 158 40 L MC DONOUGH LTD AP 2 Date Particulars Folio Debit Credit Balance


04 Purchases, Tax Invoice 20 P1 101 73

10 Cash Pay, Disc Rcvd, EP CP1 889 90

15 Purchases Ret & Allow, TAN 60 PR1 12 47

20 Purchases, Tax Invoice 21 P1 242 66

K NELSON PTY LTD AP 3 Date Particulars Folio Debit Credit Balance

APR 21 Capital G1 891 00 CR

H SANDERS AP 4 Date Particulars Folio Debit Credit Balance

MAR 14 Purchases, Tax Invoice 6 P1 216 37 15 Purchases Ret & Allow, TAN 300 PR1 30 05 23 Purchases, Tax Invoice 28 P1 80 30 28 Cash Pay, Disc Rcvd, EP CP1 186 32 30 Purchases Ret & Allow, TAN 109 PR1 5 50

SCHEDULE OF ACCOUNTS PAYABLE FOR MIDDLE PARK DISTRIBUTORS

Account Name Account Number Balance Owing

M Finch & Co AP 1 L McDonough Ltd AP 2 K Nelson Pty Ltd AP 3

H Sanders AP 4 TOTALS Once you check that your TOTAL in the Schedule of Accounts Payable agrees to the closing balance of the Accounts Payable Control Account you should note against the TOTAL that it reconciles.


Printing Reports – Supplier Ledger As you enter information in the Purchases Command Centre and use the suppliers card’s, MYOB creates the Accounts Payable/Supplier Ledger reports for you. We will check our manual Accounts Payable/Supplier Ledger above with our MYOB version. Reports are generated at the end of accounting periods to be analysed by the accountant to show the current financial position of the company. Reports can be generated from Reports on the Menu or Task Bar • Click on Reports

• Select Purchases

• Click on Supplier – Supplier Ledger

• Click on Customise to enter details required

• In the next window • Select the Supplier

- default is All • Change the month to

- March

• Enter dates – 01/03/XX to 31/03/XX

• Check Promised Date - Date Range

• Click on Report Fields Tab

• Tick Debit & Credit and untick Transaction Amount

• Click Display Options include:

• Print – sends the report to the printer

• Send To – allows the report to be electronically delivered via email, fax etc

• Format – allows formatting of appearance

Display on screen to check accuracy.


Compare your manual Supplier Ledger with the MYOB report – you can then add the totals ($74.80 + $891.00 + $331.92 + $852.04 = $2149.76) which balances to your Accounts Payable General Ledger extract on Pg 2 You can also check your Accounts Payable Ledger balances to your general ledger in MYOB by viewing the accounts. Click on the Accounts Command Centre, look under Liabilities Tab, find the Trade Creditors Account (2-1200) and note the balance to the right should be $2149.76 Another report to use is in Reports, Purchases, Payables and select Reconciliation Summary report you will note that the payables account balances to your manual version and the Out of Balance Amount should be zero.


ACCOUNTS PAYABLE RECONCILIATION

THE RECONCILIATION PROCESS Internal Reconciliation The reconciliation of the control account with the Accounts Payable (subsidiary) ledger evidences the observance of rules of accounting regarding debits equalling credits. The schedule of accounts payable is not only used as a check as to the correct posting of the creditors’ accounts; the schedule can also be ‘aged’, ie, the listing can be set out to show how long the accounts have been outstanding. This is an important tool for use in credit control. Consequently, long-term book debts will have to be reviewed and monitored closely to avoid being charged interest on any balance owing. Schedule of Accounts Payable ‘Aged’ as at 31 July

(days outstanding) Creditor Total Amount 1-30 days 31-60 days more than 60 days

A Black 555.00 255.00 200.00 100.00 J Braun 260.00 260.00 E M Brown 120.00 120.00 M Finch 425.00 300.00 125.00 R French 80.00 80.00 TOTAL $1440.00 $1015.00 $325.00 $100.00 External Reconciliation Reconciliation of accounts is one of the internal control processes that check the validity and correctness of entries in the accounting records. This section will cover the validation and verification of internal records using data external to the business. The records of the business and the creditor (accounts payable) are prepared on the basis of when goods are sent/received, and when payments are made/received. Because of this there will be differences between the records. Additional differences will occur because of errors, omissions and misunderstandings between the parties. A list of differences could include:

goods forwarded by the creditor and not received by the business;

payments made by the business but not received by the creditor;

discount taken but not allowed by the creditor;

incorrect charges by the creditor; and

incorrect postings by the business.

Consequently, good internal control demands that all creditors be reconciled regularly and that errors, omission, etc be corrected.


Reconciliation procedure The procedures to be followed in the preparation of an Accounts Payable reconciliation statement are as follows:

compare and tick the internals records with the statement of account issued by the creditor;

investigate unticked items in either the internal account or the creditor’s statement;

correct the business records if necessary; and

prepare a reconciliation statement to be forwarded with the remittance to the creditor. The statement will commence with the final balance as per the creditor’s statement and end with the final balance of the business’s account and accompanying payment.

Using the following table, age the Accounts payable Ledger AGED SCHEDULE OF ACCOUNTS PAYABLE BALANCES as at 31 March Account Name Account

Number Balance Owing Current 30 days 60 days 90 days +

M Finch & Co AP 1 L McDonough Ltd AP 2 K Nelson Pty Ltd AP 3

H Sanders AP 4 TOTALS


Printing Reports – Aged Payables Report Reports are generated at the end of accounting periods to be analysed by the accountant to show the current financial position of the company. Reports can be generated from Reports on the Menu or Task Bar Click on Reports • Select Purchases

• Click on All Purchases under Payables – Ageing Summary



- default is All • Enter date –31/03/XX

• Check Promised Date - Date Range

• Click Display






We have received a statement from our supplier L McDonough. We need to compare with our manual and MYOB version. If you look at the extract from our Accounts Payable Ledger for L McDonough and our MYOB version of L McDonough we can compare with the statement we have received and reconcile. Compare both versions and pick up any discrepancies. Following is a working example for you to follow from another supplier – H Sanders H SANDERS AP 4 Date Particulars Folio Debit Credit Balance

MAR 14 Purchases, Tax Invoice 6 P1 216 37 216 37 CR 15 Purchases Ret & Allow, TAN 300 PR1 30 05 186 32 CR 23 Purchases, Tax Invoice 28 P1 80 30 266 62 CR 28 Cash Pay, Disc Rcvd, CH307 CP1 186 32 80 30 CR 30 Purchases Ret & Allow, TAN 109 PR1 5 50 74 80 CR


STATEMENT FROM:

DATE: 31 March 20XX

H Sanders 229 Bowen Avenue MIDDLE PARK QLD 4074 ABN: 11 121 232 344 Telephone: (07) 3962 8596 Fax: (07) 3962 8597

TO: The Accountant MIDDLE PARK DISTRIBUTORS 109 Maurer Street MIDDLE PARK QLD 4074

DATE REFERENCE DEBIT CREDIT BALANCE

MAR 01 Opening Balance 0.00

14 Tax Invoice 6 261.37 261.37 15 Adjustment Note 300 30.05 231.32 23 Tax Invoice 28 80.30 311.62 28 Cash Pay, Disc Rcvd, (CH307) 168.32 143.30 30 Adjustment Note 109 5.50 137.80 OVER 90 DAYS 90 DAYS 60 DAYS 30 DAYS CURRENT

137.80

TERMS: 2.5% in 10 days and strictly net 30 days

REMITTANCE ADVICE

Please return this section with your payment to: M Finch & Co

229 Bowen Avenue MIDDLE PARK QLD 4074

ABN: 11 121 232 344

NAME:________________________ AMOUNT:_____________________

DISCOUNT:___________________

H Sanders — Reconciliation of account as at 31 March Closing balance as per Creditor’s statement 137.80 Less Error Tax Invoice 6 amount shld be $216.37 45.00 Less Error Cash payment amount shld be $186.32 18.00 63.00

Balance per Accounts Payable Ledger Card 74.80


L MC DONOUGH LTD AP 2 Date Particulars Folio Debit Credit Balance


04 Purchases, Tax Invoice 20 P1 101 73 990 63 CR

10 Cash Pay, Disc Rcvd, CH303 CP1 889 90 101 73 CR

15 Purchases Ret & Allow, TAN 60 PR1 12 47 89 26 CR

20 Purchases, Tax Invoice 21 P1 242 66 331 92 CR


TASK: You have scheduled payment to L McDonough Ltd on 9 April. Complete the remittance below for the amount you expect to pay. STATEMENT FROM:

DATE: 28 March 20XX

L McDONOUGH LTD 187 Beatty Road MIDDLE PARK QLD 4074 ABN: 25 426 123 598 Telephone: (07) 9366 7861 Fax: (07) 9566 1441

TO: The Accountant MIDDLE PARK DISTRIBUTORS 109 Maurer Street MIDDLE PARK QLD 4074



04 Tax Invoice 20 101.73 991.63 10 Receipt 400 (Cheque 303) 889.90 1881.53 15 Adjustment Note 60 12.47 1869.06 20 Tax Invoice 21 242.66 2111.72

OVER 90 DAYS 90 DAYS 60 DAYS 30 DAYS CURRENT 2111.72


REMITTANCE ADVICE

Please return this section with your payment to: L McDONOUGH LTD

187 Beatty Road MIDDLE PARK QLD 4074

ABN: 25 426 123 598

NAME:________________________ AMOUNT:_____________________

DISCOUNT:___________________

L McDonough Ltd— Reconciliation of account as at 31 March Closing balance as per Creditor’s statement 2111.72


ACCOUNTS RECEIVABLE LEDGER – Manual System continued When the journals have been completed, the information needs to be transferred to the Accounts Receivable Ledger cards. Each card represents an account of transactions between the business and the customer. Once the posting of the three journals to the ledger cards has been completed, you must then check the arithmetical accuracy of your postings to the Accounts Receivable Ledger by preparing a Schedule of Accounts Receivable balances, and reconciling the Schedule with the Accounts Receivable Control account in the General Ledger. The information from the journals for Middle Park has been transferred to the Customer Ledger cards. You are required to calculate the balance for each Customer and strike a balance for the Accounts Receivable Ledger. Before you do this, check that the total of the Accounts Receivable column in each of the journals from Section 3 agrees to the amounts entered in the Accounts Receivable Control Account below. GENERAL LEDGER of MIDDLE PARK DISTRIBUTORS (extract) CASH AT BANK ACCOUNT 1.1 Date Particulars Folio Debit Credit Balance MAR 01 Capital G1 5000 00 DR 31 Sundry Receipts CR1 14046 05 19046 05 DR Sundry Payments CP1 9698 93 9347 12 DR ACCOUNTS RECEIVABLE CONTROL ACCOUNT 1.3 Date Particulars Folio Debit Credit Balance MAR

01 Capital G1 3624 50 DR

31 Sales S1 3435 30 7059 80 DR Sales Returns and Allowances SR1 257 40 6802 40 DR Cash Receipts and Discount Allowed CR1 3168 00 3634 40 DR REMEMBER THAT ACCOUNTS RECEIVABLE ARE MONIES YET TO BE RECEIVED SO YOU NEED TO FOLLOW THE ASSET RULES (SEE SECTION 1) FOR POSTING TRANSACTIONS.

Transactions that will increase amount owing by customers DR

ASSETS DR Balance Transactions that will decrease

amount owing by customers CR


ACCOUNTS RECEIVABLE LEDGER OF MIDDLE PARK DISTRIBUTORS

P GIBSON & SONS AR 1 Date Particulars Folio Debit Credit Balance

MAR 01 Capital G1 649 00 DR

04 Sales, TIN 751 S1 792 00 06 Cash Receipts, R141 CR1 649 00 09 Sales Returns, Adj 1056 SR1 148 50 21 Sales, TIN 755 S1 396 00 24 Cash Receipts, R145 CR1 643 50

J CUNNINGHAM LTD AR 2 Date Particulars Folio Debit Credit Balance


04 Cash Receipts, R140 CR1 990 00 15 Sales, TIN 753 S1 544 50

D SMITH LTD AR 3 Date Particulars Folio Debit Credit Balance


05 Sales, TIN 752 S1 693 00 09 Cash Receipts, R142 CR1 330 00 12 Sales Returns, Adj 1057 SR1 108 90

J SAROWSKI PTY LTD AR 4 Date Particulars Folio Debit Credit Balance


19 Sales, TIN 754 S1 495 00 21 Sales, TIN 756 S1 514 80 Cash Receipts, R144 CR1 555 50

J BROWN LTD AR 5 Date Particulars Folio Debit Credit Balance


AGED SCHEDULE OF ACCOUNTS RECEIVABLE BALANCES as at 31 March

Account Name Account Number Balance Owing

P Gibson & Sons AR 1

J Cunningham Ltd AR 2

D Smith Ltd AR 3

J Sarowski Pty Ltd AR 4

J Brown Ltd AR 5

TOTALS


Printing Reports – Customer Ledger As you enter information in the Sales Command Centre and use the customers card’s, MYOB creates the Accounts Receivable/Customer Ledger reports for you. We will check our manual Accounts Receivable/Customer Ledger above with our MYOB version. Reports are generated at the end of accounting periods to be analysed by the accountant to show the current financial position of the company. Reports can be generated from Reports on the Menu or Task Bar • Click on Reports

• Select Sales

• Click on Customer – Customer Ledger



- default is All • Change the month to

- March

• Enter dates – 01/03/XX to 31/03/XX

• Check Promised Date - Date Range • Click on Report Fields Tab

• Tick Debt & Credit and untick Transaction Amount

• Click Display Options are






Compare your manual Customer Ledger with the MYOB report – you can then add the totals ($584.10 + $1100.00 + $544.50 + $1009.80 + $396.00 = $3634.40) which balances to your Accounts Receivable General Ledger extract on Pg 2 If you have deposited all the funds then the total DRs will equal the total CRs and the balance of the account will be $0.00.

You can also check your Accounts Receivable Ledger balances to your general ledger in MYOB by viewing the accounts. Click on the Accounts Command Centre, look under Asset Tab, find the Trade Debtors Account (1-1200) and note the balance to the right should be $3634.40 Another report to use is in Reports, Sales, Receivables and select Reconciliation Summary report you will note that the receivables account balances to your manual version ($3634.40) and the Out of Balance Amount should be zero.


AGED RECEIVABLES You have now completed the posting of the journals to the Accounts Receivable Ledger cards and proven accuracy with the Accounts Receivable Control Account in the General Ledger. You have issued statements to trade debtors (accounts receivable, customers). You still have to review and control credit terms in accordance with credit policy and procedures. AGED RECEIVABLES (sample display—Carnaby Fashions—see over page) The schedule of accounts receivable not only is used as a check as to the correct posting of the debtors accounts; the schedule can also be ‘aged’, ie, the listing can be set out to show how long the accounts have been outstanding. This is an important tool for use in credit control. Consequently, long-term book debts will have to be reviewed and possibly written off. If say, the terms of payment are 5/10 net/30, the accountant would use the Aged Schedule of Accounts Receivable as follows: The figure in the 1-30 day column is considered current and settlement terms would apply. To those debtors who have accounts outstanding more than 30 days but less than 60 days some

form of reminder would be sent. This may mean merely stamping the monthly statement with a reminder of the trading terms and highlighting the amount outstanding more than 30 days. It may also be company policy to charge interest on the overdue account.

Accounts outstanding more than 60 days would require further investigation of the reasons

payment has not been made. It may be necessary to put the matter in the hands of a debt collector.

This is the Aged Accounts Receivable Schedule for Carnaby Fashions as at 30 November (see next page for Accounts Receivable Ledger.

AGED ACCOUNTS RECEIVABLE BALANCES as at 30 November

Account Name Account Number

Balance Owing

Current 30 days 60 days 90 days +

J Bacon Ltd AR 1 1894 00 550 00 154 00 990 00 200 00

Jones & Jones AR 2 1566 00 979 00 187 00 400 00

Jane’s Fashion Store AR 3 297 00 297 00

Beaumont Fashions AR 4 429 00 429 00

Wrags to Riches AR 5 428 45 428 45

TOTALS $4614 45 $2683 45 $341 00 $1390 00 $200 00

Check the accuracy of this Schedule using the Accounts Receivable Ledger cards on the next page.


ACCOUNTS RECEIVABLE LEDGER OF CARNABY FASHIONS

J BACON LTD AR 1 Date Particulars Folio Debit Credit Balance

AUG 10 Sales, Tax Invoice 4400 S1 600 00 200.00 600 00 DR

SEP 20 Sales, Tax Invoice 4500 S2 990 00 1590 00 DR

OCT 23 Sales, Tax Invoice 4669 S3 154 00 1744 00 DR

NOV 01 Cash Receipts, R100 (applied to TIN 4400) CR4 400 00 1344 00 DR

02 Sales, Tax Invoice 4671 S4 550 00 1894 00DR

JONES & JONES AR 2 Date Particulars Folio Debit Credit Balance



NOV 09 Sales, Tax Invoice 4672 S4 1100 00 2052 50 DR

10 Cash Receipts, R103 (applied to TIN 4550) CR 4 365 50 1687 00 DR

15 Sales Returns, Adjust 123 (apply to TIN 4672) SR4 121 00 1566 00 DR

JANE’S FASHION STORE AR 3

Date Particulars Folio Debit Credit Balance



24 Sales, Tax Invoice 4675 S4 341 00 341 00 DR


BEAUMONT FASHIONS AR 4 Date Particulars Folio Debit Credit Balance




WRAGS TO RICHES LTD AR 5 Date Particulars Folio Debit Credit Balance




As bookkeeper for Body Care 2006, you are required to perform the following tasks: • Prepare an Aged Schedule of Accounts Receivable Balances as at 31 December; • Compare the Schedule with the Accounts Receivable Control Account; • Issue the statements as at 31 December. AGED ACCOUNTS RECEIVABLE BALANCES as at 31 December


Balance Owing Current 30 days 60 days 90 days +

Dale Carss Ltd AR 1

J Taylor & sons AR 2

Carly’s Body Shop AR 3

Beautiful Bods AR 4

Aroma Boutique AR 5

There’s Only One Earth AR 6

Renovators Delight AR 7

TOTALS

GENERAL LEDGER (EXTRACT)

ACCOUNTS RECEIVABLE CONTROL ACCOUNT 1.3


DEC 01 Balance b/d 8608 50 DR

31 Sales S4 6204 77 14813 27 DR

Sales Returns SR4 395 67 14417 60 DR

Cash Receipts CR4 3188 87 11228 73 DR


ACCOUNTS RECEIVABLE LEDGER OF BODY CARE 2006 DALE CARSS LTD AR 1





DEC 01 Cash Receipts, R200 (applied to TIN 1190) CR4 450 00 1990 00 DR



17 Cash Receipts, R206 (applied to TIN 1190) CR4 300 00 2207 00 DR

J TAYLOR & SONS AR 2




DEC 06 Sales, Tax Invoice 2672 S4 990 00 2977 50 DR


CARLY’ BODY SHOP AR 3






23 Sales Allowance, Adjust 224 (apply to TIN 2674)

SR4 187 77 1703 23 DR


BEAUTIFUL BODS AR 4







AROMA BOUTIQUE AR 5




28 Sales Returns, Tax Adjust 225 (apply to TIN 2676)

SR4 64 90 1599 21 DR

Cash Receipts, R208 (applied to TIN 2676) CR4 199 21 1400 00 DR

THERE’S ONLY ONE EARTH AR 6




RENOVATORS DELIGHT AR 7




You now need to complete the Aged Schedule for Middle Park using your Accounts Receivable Ledger AGED SCHEDULE OF ACCOUNTS RECEIVABLE BALANCES as at 31 March


Balance Owing Current 30 days 60 days 90 days +

P Gibson & Sons AR 1

J Cunningham Ltd AR 2

D Smith Ltd AR 3

J Sarowski Pty Ltd AR 4

J Brown Ltd AR 5

TOTALS

To complete the Aged Schedule in MYOB. Click in Reports, Sales, Receivables & Ageing Summary.

• Click on Customise

• Ageing Date – 31/03/2013

• Click on Display

Compare with your manual version above


You have now completed the posting of the journals to the Accounts Receivable Ledger cards and proven accuracy with the Accounts Receivable Control Account in the General Ledger. PREPARING STATEMENTS FOR ACCOUNTS RECEIVABLE (DEBTORS) A statement of account should be sent to customers (accounts receivable/debtors) on a regular basis, usually monthly. The statement of account is prepared by the accounting department from its records and provides details in respect of unpaid amounts of last period, sales made for this period, sales returns and payments received. Accounts, whether they be for goods supplied, services rendered, or any other cause, should not be paid unless there is proper verification and authorisation. Thus the debtor upon receipt of the statement will: check the details of the statement with the internal accounting record; obtain the organisation’s copies of the relevant source documents—tax invoices, delivery

dockets, purchase orders, adjustment notes (credit notes), etc; and where there is a discrepancy, prepare a reconciliation statement and prepare a cheque for

payment of the account. USING THE DUPLICATE DOCUMENTS ISSUED AND THE ACCOUNTS RECEIVABLE LEDGER CARDS: Middle Park — prepare the statements of account for the following customers as at 31/03/XX: P Gibson & Sons J Cunningham Ltd Remember you are issuing the statements so they should reflect your point of view (as per Accounts receivable ledger).


STATEMENT FROM:

DATE: 31 MARCH 20XX

MIDDLE PARK DISTRIBUTORS 109 Maud Street MIDDLE PARK QLD 4074 ABN: 77 324 089 161 Telephone: (07) 6041 3717 Fax: (07) 6041 6723

TO: The Accountant P GIBSON & SONS 108 Mitchell Street JINDALEE QLD 4075



OVER 90 DAYS 90 DAYS 60 DAYS 30 DAYS CURRENT


REMITTANCE ADVICE

Please return this section with your payment to:

MIDDLE PARK DISTRIBUTORS 109 Maud Street

MIDDLE PARK QLD 4074 ABN: 77 324 089 161

NAME:________________________

AMOUNT:_____________________

DISCOUNT:___________________


STATEMENT FROM:

DATE: 31 MARCH 20XX

MIDDLE PARK DISTRIBUTORS 109 Maud Street MIDDLE PARK QLD 4074 ABN: 77 324 089 161 Telephone: (07) 6041 3717 Fax: (07) 6041 6723

TO: The Accountant J CUNNINGHAM LTD Casuarina Shopping Centre KENILWORTH QLD 4574



OVER 90 DAYS 90 DAYS 60 DAYS 30 DAYS CURRENT


REMITTANCE ADVICE

Please return this section with your payment to:

MIDDLE PARK DISTRIBUTORS 109 Maud Street

MIDDLE PARK QLD 4074 ABN: 77 324 089 161

NAME:________________________

AMOUNT:_____________________

DISCOUNT:___________________


PRINTING STATEMENTS FOR DEBTORS IN MYOB

• Click onto the Sales Command Centre

• Click on Print/Email Statements

• Statement Type: Click on drop down arrow and select Activity

• Date – type in 01/03/XX to 31/03/XX

• Click on Advanced Filters

• Selected Form for Statement – click on drop down arrow and select AccountRight Enterprise’s Plain Paper Statement

• Click on OK

• Tick the two customers you wish to display Statements for J Cunningham Ltd & P Gibson & Sons


Before commencing the last portfolio task, please ensure your log sheet has been signed off and you have collected necessary additional documents/information from your facilitator to help you complete the task. Upon completion Please attach the portfolio cover sheet and hand this completed task to your session facilitator for marking. This task will be retained as part of your portfolio of evidence as competency in this unit

process accounts payable and receivablesection+five+2014+v5… · of the accounts payable control...

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