Processing Bookkeeping Transactions (PBKT)
The exam consists of 10 tasks and it’s 2 hours long:
- Task 1: Make entries in an analysed day-book
- Task 2: Transfer data from day-books to ledgers
- Task 3: Make entries in a three column cash-book
- Task 4: Transfer data from a three column cash-book
- Task 5: Make entries in and transfers from an analysed petty cash-book
- Task 6: Prepare an initial trial balance
- Task 7: Check supplier invoices/credit notes
- Task 8: Prepare sales invoice or credit note and check the accuracy of receipts from customers
- Task 9: Prepare a statement of account from an account in the sales ledger
- Task 10: Understand the double entry bookkeeping system
What to look out for in the exam
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No previous knowledge required
To succeed in this unit you must be comfortable with the accounting equation and the full process of double entry bookkeeping through to the completion of the initial trial balance. Any stage of the process can be examined and selected for a particular task so fluency in making entries in sales, purchases and returns day books, using account codes, and also the transferring of those totals to the sales, purchases and general ledgers is essential.
The cash-book and petty cash-book are also dealt with in this unit, making entries into both and transferring totals to the ledgers.
Knowledge is also required to make appropriate checks on supplier invoices and credit notes, and reconcile supplier statements with the purchases ledger account and calculate payments due to suppliers.
You will also be required to prepare sales invoices and credit notes and check receipts from customers.
Watch out for discounts allowed and received. These regularly appear in questions and will require calculations and postings.
To give you the best chance of passing, we recommend that you join a Kaplan course. There are various options available: Classroom, Live Online, and Distance Learning. Alternatively, you could purchase separate Kaplan Publishing study text and or revision kit.