ICB Computerised Bookkeeping Level 2

The ICB Level 2 Computerised Bookkeeping Certificate course has been designed to follow on from ICB Level 1 manual Bookkeeping Certificate. Computerised bookkeeping is now becoming the preferred method as it is less time consuming and easier to process transactions and reports than the traditional manual methods. Most Bookkeepers and Accountants are now using accounting software in order to remain efficient and competitive. From 2011 all annual accounts and Vat returns will need to be submitted to HMRC in electronic format thus providing further reason to master this method of Bookkeeping and Accounting.

Prerequisites.

The ICB Level 1 Manual Bookkeeping Certificate or equivalent must have been completed prior to being able to sit the examination for this course.

About this Course:

This course is based on using Sage Accounting software. There are three main software packages provided by Sage, each developed for use by different types of business. Sage Instant Accounts. This basic package is designed for Sole traders and small businesses. The software can only be used for a single client and as such is not suitable for Professional Bookkeeping as a Bookkeeper or Accountant would need to represent more than one client and also need to carry out some tasks not included in the software.Sage 50 Accounts . This is the most popular Sage package used by Bookkeepers and Accountants. It has more features and capabilities plus it can be used for unlimited clients.Sage 50 Professional. The package is mainly used by larger bookkeeping companies, Accountants and corporates. It has the capability to deal with unlimited stock control, special products and foreign currencies plus many many more features.

It can handle unlimited companies and be licensed for several independent users.

Our standard course is based on learning the Sage 50 Professional software as it eliminates the need for extra training. Once you have learned this package you will be able to easily adapt to the other packages and also be in a position to apply for jobs with the larger companies.

Due to the cost of the fully licensed software being in the region of £1100.00 to buy we provide you with 180 days free use of the software for your studies. This is usually more than sufficient but we can extend this time in certain circumstances. You will also receive three Sage Business Partner certificates. One for each level of the Sage 50 Professional courses.

The alternative to this is that you base your ICB course on the Sage Instant Accounts software. In this case we will provide you with a fully licensed version of the Sage Instant Accounts software for the same price. You will also receive one Sage Business Partner certificate on completion of the Sage instant Accounts course.

The course is structured in a format that allows you to study in your own time at your own pace. We provide you with everything needed to complete your course and exam so that you can concentrate on your studies without having to worry about extra costs for materials or the inconvenience of arranging mock and full exams. The course fee includes:• Workbooks. (Three for Sage 50 Professional or One for Instant Accounts)
• Study guide and notes.
• Assignments.
• Unlimited exam preparation mock papers with marking and feedback.
• Unlimited qualified tutor support for the duration of the course and exam.
• ICB Exam fee. (£25.00)• Access to community forum
• 180 days use of the Sage 50 Professional software or a fully licensed version of Sage Instant Accounts)
• Three Sage Business Partner certificates with Sage 50 Professional option.
• One Sage Business Partner Certificate with Sage Instant Accounts option
• Postage and packaging.
• It is assumed that your ICB Membership is up to date as this is covered in level 1

There are no hidden costs.

Duration.

On average this course takes between 45 and 50 hours of study time including exam time.

Exams.

The exam can be taken from home by assignment. Papers are sent out by ICB virtually every Friday of the year. You will normally have between 10 and 14 days to complete the paper and return it to ICB for marking. Results can take up to two weeks.

Learning Outcomes.

Business Set Up
1) Access the software
2) Set up the details of the new business including:
i) Name, address, start up date, VAT registration where applicable,
ii) Product lines for sale
iii) Appropriate VAT rates
3) Set up customers' and suppliers' accounts in the sales and purchases ledger, with details of name, address, credit limit, opening balances where appropriate
4) Obtain a print out of all details in an appropriate and readable format
5) Set up appropriate accounts to record income and expenditure items
6) Set a pro-forma for the production of invoices, credit notes and other required documents

Ledger Accounts
Make correct entries in the appropriate accounts for:
1) credit sales and purchases (including trade and cash discount where appropriate, individually or in batches)
2) credit notes sent to customers and received from suppliers
3) invoices received from suppliers for goods and services other than those for re-sale
4) cash sales and cash purchases
5) payments made on invoices received
6) receipts from invoices sent
7) payment of expenses and income other than from the sale of goods
8) transactions via the journal
9) Writing off of bad debts

Correction of errors
Correct any errors made in the posting of transactions to the accounts

Bank reconciliation
Carry out a bank reconciliation exercise using a computerised accounts package

Health and Safety
Display an awareness of health and safety issues when using a computer system

Trial Balances
1) Explain why they are needed
2) Explain the types of error that they will/will not disclose
3) Prepare such balances
4) Explain the action to be taken in the case of non-agreement

Reports
Print out required and explain the importance of reports including
i. audit trail
ii. nominal account transactions
iii. sales and purchases ledger transactions
iiii. VAT returns

Final Accounts of a Sole Trader
Extract a trading, profit and loss account and a balance sheet making allowances for year end adjustments such as depreciation (straight line and reducing balance methods), prepayments and accruals.

Non-Profit Making Organisations
1) Prepare a statement of affairs
2) Accurately prepare a receipts and payments account
3) Make adjustments to the accounts with regard to the accruals and prepayments of income and expenditure items including subscriptions
4) Prepare an income and expenditure account
5) Prepare a balance sheet

This course is available to purchase at the same time as levels 1, 2 and 3 manual bookkeeping and Payroll Management Diploma and as such enable you to make a saving on the overall costs when purchasing extra levels individually.

If you have not yet completed the Level 1 Manual Bookkeeping course this is a prerequisite and will have to be purchased prior to or at the same time as this course.