IAB Manual Bookkeeping Levels 1, 2 And 3

IAB Manual Bookkeeping (Level 1, 2 and 3)

The IAB Manual Bookkeeping (Level 1, 2 & 3) course combines three Levels.

The IAB Level 1 Award in Manual Bookkeeping - QCF course is divided into five mandatory units. The accreditation number, level and credit value of each unit is as follows:

Maintaining Petty Cash Records - R/505/1120 (level 1 –1 credit)

• Completing a petty cash voucher
• Maintaining an analysed petty cash book
• Maintaining the petty cash balance

Making and Receiving Payments - J/600/8744(level 1 –1 credit)

• Processing cash receipts
• Processing cheques received and other forms of receipts
• Making payments in cash
• Making payments by cheque
• Preparing a remittance advice

Preparing and Processing Bookkeeping Documents - M/600/8740(level 1 –1 credit)

• Processing sales invoices and credit notes
• Processing supplier invoices and credit notes

Recording Credit Transactions - A/600/8742(level 1 –1 credit)

• Sales daybook
• Sales return daybook
• Purchases daybook
• Purchases returns daybook
• Total and cross-check the daybooks for accuracy

Recording Receipts and Payments - L/600/8745(level 1 –1 credit)

• Maintaining a two-column analysed cash book
• Reconciling the bank statement with the cash book

The IAB Level 2 Award in Manual Bookkeeping - QCF course is divided into seven units. The accreditation number, level and credit value of each unit is as follows:

Maintaining Petty Cash Records - R/505/1120 (level 1; 1 credit)

• Completing a petty cash voucher
• Maintaining an analysed petty cash book
• Maintaining the petty cash balance

Principles of VAT - A/505/1094(level 3; 2 credits)

• VAT registration requirements and regulations
• Recognise different types of inputs and outputs
• Classification of supplies for VAT purposes
• Reporting requirements for different types of VAT scheme

Preparing and Recording Financial Documentation - H/505/1106(level 2; 2 credits)

• Preparing financial documents for credit customers
• Entering sales invoices and credit notes
• Processing customer payments
• Processing and entering suppliers invoices and credit notes
• Preparing payments to suppliers

Maintaining and Reconciling the Cashbook - D/505/1122(level 2; 2 credits)

• Maintaining a three-column analysed cashbook
• Dealing with discrepancies
• Reconciling a bank statement with a cashbook
• Preparing a bank reconciliation statement

Maintaining the Journal - H/505/1123(level 2; 2 credits)

• Opening a new set of double-entry bookkeeping records
• Using the journal to correct errors disclosed or undisclosed by the trial balance
• Creating and clearing a suspense account using the journal
• Using the journal to record other transactions
• Using the journal to process wage costs

Processing Ledger Transactions and Extracting a Trial Balance - M/505/1125(level 2; 2 credits)

• Process ledger transactions from the books of prime entry
• Transferring data correctly
• Preparing ledger balances and an initial trial balance

Maintaining Control Accounts - K/505/1124(level 2; 1 credit)

• Prepare sales and purchase ledger
• Prepare tax control accounts
• Reconcile sales and purchase ledger
• Reconcile balances on the tax control account

The Level 3 Certificate in Manual Bookkeeping - QCF course materials prepare you to achieve the following learning objectives:

• Prepare financial statement for a not for profit organisation
• Prepare financial statement for a partnership
• Prepare financial statement for a sole trader
• Prepare financial statements from incomplete records
• Preparing and completing VAT returns
• Record transactions and make accounting adjustments