ANALYZE THE TERMS ARE STATED BELOW

Closing Date VS Accounting Period

Closing date

The date on which the seller of a property delivers the deed and the buyer pays for it. The date by which you must apply for, ask for, or provide something closing date for: The closing date for applications is March 17. The closing part of an activity or period of time is the final part of it. A closing date is a term used in real estate sales to denote the time at which the sale becomes final. It is not the same as the day on which the contract is signed for the sale but, rather, usually follows several weeks after the contract signing, and is when the buyer will receive the keys to the property. There are several processes that must be completed before the closing date arrives.

Accounting Period

In general, the time period reflected by a set of financial statements. In terms of taxation, it is the 12-month period a taxpayer uses to determine his or her income tax. The accounting period is usually the calendar year. Period for which a firm prepares its internal or external accounts; the period covered by the financial statements. For internal accounts, it may be a month or a quarter; for external accounts it is normally a period of 12 months.

Add Entry VS Quick Entry

Add Entry

Add entry is a single transaction entry procedure. When you enter a debit entry, you have to add credit entry (or vice-versa) to complete the double entry concept. In add entry, if we did not click on accept button, the system will not save the entire transaction. This method is very useful when we have more than one debit entry or credit entry.

Quick Entry

Quick entry is a double transaction entry procedure. When you enter one side of double entry, the system will generate the other side of the entry automatically. All you need to do is nominate a Master Account. Master account can be any double entry account and it means the account’s entry will be handled by the system.

Edit VS V.Edit

Edit

First of all we must search for the account that you want to change. To edit we must go to 1) general then have to choose 3) print chart of accounts to list the chart of accounts, then double click on specific account to retrieve it. After, we have to change and have to click the save button. The same methods we will use for edit chart of account and edit transaction.

V.Edit

You may edit mutiple transactions in a batch by clicking the button v.edit button. V.edit function allows users to change/edit more than 1 transaction in a batch as the same window. It is ideal for changing multiple transactions at the same time. It is faster and easier for transactions editing compared with the normal edit function. Before you start to use v.edit function to edit transaction, 1st of all, you must go to the correct batch, whereby the batch shall contain transaction that you need to edit. As we know that, all transactions are being stored at batch no.5 cash book (bank)-jan08. In order to go to batch no.5 to do v.edit, you shall click on button to look for batch no.5.

Backup VS Restore

Backup

Compression of multiple data files from UBS accounting system into one compressed file and transfer the compressed file to floppy disk/UBS flash drive or hard disk.

Restore

Decompress the compressed file from floppy disk/USB flash drive or hard disk in order to recover back the multiple original data files which shall be stored back into the system.

Delete Individual Business Transaction VS Deleting All Business Transaction

Delete Individual Business Transaction

Deleting individual transaction is clear only batch titles and transaction will be deleted, opening balance and chart of account shall be remain. We can choose clear only transaction-chart & b/f remain at clear files/ generate sample chart in sage UBS accounting system, which is option no.2.

Deleting All Business Transaction

Deleting all business transaction is alll batch titles, transaction and account numbers of the date will be deleted when we choose option no.1 which is clear both chart of accounts & transaction in sage UBS accounting system. It also called clear files or generate sample chart. It partially clear or delete all data in the system.

ACCOUNTING ASSUMPTION PAGE WHAT IS IT ALL ABOUT???

Lack of Information Data

In our UBS project, we face a lot of problem when we start the project such as transaction, ledger and more. Few data for our UBS project are not available for the business conducted by the enterprise. For example, the enterprise does not have the data of toll receipts and fuel receipts. This is all conducted by the owner own self and been recorded without proper documents. Other than that, the companies all transaction is in cash basis and there are no creditors as long they do not involve any credit sales. So, there are no account parables in this enterprise’s file. We are facing of shortage of documents where the company had lost its documents such as electricity expenses. Assumption figure of the electricity bills are taken based on the assumption given by the owner. So far, we only received 3 months data because the owner was so busy and we could not approach him as easily because he always went to outstation. Our dateline for pass up our project is just around the corner and we have to rush according to the time and try our very best to get the remaining documents as we can start our project as soon as possible.

example data not available 

example data which we needed

Mid Semester Examination Is Around The Corner....

Hai,

Today we want share about our preparation during mid semester examination. First of all, both of us start to do revision one week before the exam. The things that we do for our revision are

• Gather our materials that need to study for exam. Both of us find our  notes, handouts, outside readings, study guides, texts and put them in chronological order.
• Then we do short notes and mind mapping for all our theory subjects.
• For calculation subjects, we do more exercises and  also review the exercises that given by lecturer.
• After that, we went to library and took the past year questions for the six subjects that we take in this semester.
• We also together do the past year questions for score well in exam

s   Today I want to also share my feelings about my mid semester examination. Exam is the 1 of   the hardest thing for us to complete it because it most complicated to us. We feel nervous, scary, confuses n many more to write down the examination. Sometimes we very angry about who create the examination all y this such thing occur to test our iq level. This thing making us hesitate to write down examination n its compulsory by the management to do it the examination. Anyway we must do our best level to achieve our target A level or anything to rank in best level and competitive to others. We must proud our lecture by fulfilling their target to achieve A level in all subject by doing a good examination.

   

study wif frens before the examination

clarify the doubts n preparing for examination

     

                        
       

      

Progress Of UBS Project May 2012 So Far…

The hunting for getting a potential company had been delayed since we have mid semester exam for a week.  I try to approach the manager of a company who I met him before and ask him about the data that I need. I talk to him as nicely as I could and explain what is our purpose to collect the data from a company. I also convince him that the information will be kept securely and confidentially because they worried that we will reveal their financial standing to their other competitors. At this moment, I would like to thankful and appreciate Mr.Noeffendy who really understands our situation where we could not post in the blog because the tight schedule of exams. I really thankful to our sir because gave us more time to complete our task. The manager who I convince before had call me and tell that the company’s accountant ask him to do not give any data because he think that it is not the exercisable practice by that company. The moment the manager told me such thing, actually I’m not frustrated with him but only fade up with the accountant because as he is an accountant he really not support us and I thought that he never encourage other young accountants who newly enter the accounting field. Sometimes I feel angry on persons like him because without anyone’s guidance there is the possibilities that he can become an accountant. This is the time for him to guide us so that we also can become an accountant in the future. So, we are trying to find another company and hope that we will wil their confidence and can get their data as soon as possible. Searching for a company will become my best experiences in my degree life and it is unforgettable because we gain many contacts and also improve our communication level with third party.