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Hi every1, I am new here, and I would really really appreciate any help I can get.
I have finished both the assignments and both of my trail balances are not balancing, and I have gone back many times to double check if all entries have been inputted in the right ledger accounts. And tried my best to make sure I have understood each topic. (obviously I havn't)
Yet stil I cant get the Trail Balance to balance at the end of the assignment. For Assignment 3 I have a differece of £114.50 (my Dr figure is £9,915.00 and my Cr figure is £10,029.20)
and on Assignment 4 I have a difference of £135 (my Dr figure is £60,995.00 and Cr figure is £61,130.00)
Is it possible for anyone who has done this to let me know if the above figures are near to what it should be, since from this hint I would be able to figure it out?
And I can not move on to Unit 5 :-(
Many Thanks
Edited at 21 May 2011 06:11 PM GMT
Edited at 21 May 2011 06:13 PM GMT
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I think you must be using a different provider to me as my lesson 3 assignment is not a Trial balance but for what it is worth...
On your unit 4 the difference is divisible by 9 - go back and look for a transposition - you may have entered an amount with some numbers reversed. i.e. 98 in stead of 89 or somesuch.
Not sure about the unit 3 problem.
Good luck!
A late thought - for Unit 3 - look for any amount of £229 - double the difference and check that
Edited at 21 May 2011 06:12 PM GMT
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Hi Theresa
Thanks for your responce, Ive sorted out the error on Assignment 3, it was to do with the wages calcution.
Thank you for your input, it wasnt it, but when going through it I noticed some general input errors.
My supplier is Training Link via Bookkeeping courses http://www.book-keeping-courses.co.uk
And Now my difference on Assignment 4 is £290 on the Cr side of the Trail balance
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Ok now im off by £150... lol
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Okay im getting closer its now only £100.. lol
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Sorry my ideas didn't help - glad you found the solution!
I'm with Ideal Schools - having done City and Guilds who do not cover quite the same ground, which means I'm back to ground zero retaking everything :S
Humm.... £100? Not a clue! rules of thumb I was taught many years ago by Dad - who has been keeping accounts by double-entry for more years than I care to think...
If it divides by nine look for a transposition,
a whole number like £100 look for £50 or £200 - might be a mispost, though it sounds like you've checked that one!
He has other 'thumb rules' but the best thing I ever heard was from an accountant friend - if it adds up first time - look again - you've done something wrong! :)
Good luck - hope you find the answer soon.
Theresa
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Hi Theresa,
My problem was that I was not recording details correctly, therefore when traking the route, it would make it harder.. And since im doing it on Excel when writing up the equations of simple adding and subtracting I was finding that, by error when carrying the balance forward and working out the difference, I would on one of the fields Add instead of Subtract.
And having to re-balance the accounts! But hey its a learning curb and a good lesson to pay attention to detial.. Its just accounts can really drain you at times, its to keep the mind fresh..
So where are you upto with your studies and how are they going?
I come from a pure Sales background with no accounts experience or background, so its all new to me.. lol
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Actually it did help alot, since it got me too look closer.. So thanks! 
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Finally got it sorted!! I doubled up the entries for no apparant reason... lol
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Yay! You did it! 
My studies are a bit of a mixed bunch - I've been doing double-entry since I was 10, Dad got me working on club accounts as a bit of fun, not surprisingly I was fairly good at maths at school!
I got a degree in Maths and Computers, worked for a print company for a few years then settled down to raise the kids....
Having got to the point where additional income is starting to outweigh the benefits of me being being at home I took the C&G Lv1 and 2 Bookkeeping courses - then contacted the ICB who said that they would not convert the exams. So now I've just started the ICB900 package with Ideal schools - and it must be said that ICB lv1 covers most of C&G Lv1 and 2....
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Yeah im happy now doing unit 5 which is on VAT..
Thats cool that you have been exposed to it whilst growing up.. With strong bacgground in Maths..
I wish that was he case with me as I have a background in Business and Music; Did A levels in Business and went to do 1st year at uni in Business then to start and finish a degree in Music Technology. Was meant to get into that indusrty but obviously didnt happen.
Moved into retail banking as a Cashier in Barclays then a Personal Banker and last year I was half way into my CeFA to become a financial planner.. Which of course you may know that they got rid of them in Jan 2011.. Which forced me out of banking into what im doing now which is working for a accounts software company doing sales.. lol
The plan now is to get into an accounts assistant role and go onto doing the CIMA.. lol
But the ICB is great coz it gives that flexibility to become self employed.. As supposed to the AAT, which I think its much better in my view..
And I guess, for you the same reason as you are settled with children and to get an extra income is very feasable.. So how far are you into it and how are you finding it so far?
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Not far in - pack only arrived on Friday :)
Sent assignment 1 in on Friday, finished Assigment 2 today which I will email tomorrow... Lesson 3 is the VAT intro and my plan ahead calls for me to have that done by next Friday - should be fine... and I need to give Ideal Schools a couple of days to mark I suppose :)
Hoping to get to the first mock - a paper one by the end of the first week in June and then the online mock and exam by around the middle of the month.
I know it sounds fast - but I am basically knocking dust of the studying I have already done - Lv2 will be a little slower I'm sure :)
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That sounds great :-)
Im in a similar boat, I wanna smash level 1 ASAP too! I received the pack on 6th May was a bit lazy, only up to Unit 5 now (Intro to VAT), which I should be done within the next hour or so and then I will plan to start Unit 6, which is VAT and the Leadgers and has 13 tasks followed by the assignment. :-(
Im planning on getting that done by tuesday and start the final Unit 7 on Wed and done by Friday, coz I wont be able to do anything on the weekend, except the bank holiday on Monday.. lol
At the speed we are going, I think I my self should be ready for the exam by mid June latest as well.. Fingers crossed.. Please do stay in touch as I think we are A) going on a similar pace & B) I think we really will be able to help each other, during the course?
If you dont mind that is, I will understand if you choose not to :)
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Happy to keep in touch :)
Part of the point of this place surely? 
More seriously, yes please - we seem to be at a very similar level in out studies and as we are using different providers we will be getting the same info from different angles, this could be useful as we may be able to bounce problems off each other - should there be any.
Good luck with your unit 7 - hope the tag end of 6 went ok last night :)
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Hello Guys,
I hope you don't mind me intruding on your conversation. I am also new on here - I am doing the ICB career path, and am a few weeks in on the level 1 basic bookkeeping course. First time I have logged on to the site today, but looked at this thread and was happy to see some friendly people who are willing to help eachother out!
I sent off the paper mock exam yesterday, but I think I am going to do badly, as I got a bit muddled up with the VAT postings...I guess I'll just have to wait and see. I have just booked the online mock exam - I think I need to run through the notes again a few more times before I actually do it though, but I am hoping to do the mock end of this week if I get the paper exam back, then I'll see how much more study I have to do before the real thing!
Theresa - I liked your rules of thumb - I'll keep that in mind next time I don't balance
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Cheryl said:
“Hello Guys,
I hope you don't mind me intruding on your conversation. I am also new on here - I am doing the ICB career path, and am a few weeks in on the level 1 basic bookkeeping course. First time I have logged on to the site today, but looked at this thread and was happy to see some friendly people who are willing to help eachother out!
I sent off the paper mock exam yesterday, but I think I am going to do badly, as I got a bit muddled up with the VAT postings...I guess I'll just have to wait and see. I have just booked the online mock exam - I think I need to run through the notes again a few more times before I actually do it though, but I am hoping to do the mock end of this week if I get the paper exam back, then I'll see how much more study I have to do before the real thing!
Theresa - I liked your rules of thumb - I'll keep that in mind next time I don't balance
”
Please join in! The more the merrier :)
Good luck with the mock - I will probably do mine end of next week..... VAT is a pest - I hate having to back calculate to remove it from a total. The numbers can be so confusing! Easier with the 20% though.
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I am with you Cheryl - same point - I cant get to grips with VAT - mainly not knowing what needs to be inputted into the VAT ledger - weather it is just sales and purchases or do I need to work out everything and put it on there eg - VAT on phone bill etc
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Hi Heidi,
Funnily enough that was pretty much the exact question I asked my tutor, and this is the response I got:
It is not only on goods bought for resale (purchases), and sales that a business pays or reclaims VAT. This applies for all goods and services, from general expense items, to the purchase of assets
You don't happen to be doing the paper mock exam do you? (just because you mentioned the VAT on a phone bill, and that is exactly where I was stumped!
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Ha ha - Yes I am - I have gone over and over and couldnt work it out - I even bought the book from the shop on here and coud not really get it - but thankyou I will have to see how I go and submit it in the next few days - I had to ask for a copy of the mock as messed the 1st one up x oops - but thanks again
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