A20814: Identify transactions required to be included in the journal entries and Identify general ledger accounts: Finance in Business Assignment, APC, Australia

Criteria

1. Prepare journals required for posting to the general ledger

• Identify transactions required to be included in the journal
  entries.
•  Identify general ledger accounts affected according to organizational policies, procedures, and accounting standards.
• Prepare and document the journal entries according to organizational policies, procedures, and accounting standards.

2. Post journal entries and reconcile discrepancies

• Post journal entries into the general ledger system according to organizational policies, procedures, and accounting standards
• Reconcile accounts payable and accounts receivable subsidiary ledger systems with general ledger
• Rectify any discrepancies and escalate, where required if outside the scope of individual authority Prepare to adjust journal entries and closing entries for the general ledger.

3. Maintain general ledger

• Prepare closing and post-closing trial balance from the general ledger system of the organization
• Prepare a trial balance
• Check general ledger for accuracy of information and despatch to relevant stakeholders, where required
• Check trial balance meets the accounting equation requirements