Hi all,
I recently started the level 2 AAT back in August, and since being placed in November I've quickly been given a lot of responsibility, I'm now in charge of the VAT returns at my firm and so I've been trying to learn everything there is to know as fast as I can. The one thing I'm really struggling with are these big intimidating adjustment with trade creditors journals that are passed, I understand the premise of doing these journals but I don't feel experienced enough to make a judgement on doing one myself, I don't even know what I should be looking for to even attempt to do one. Could someone please maybe explain to me why these are necessary and what I should be looking for? These journals usually incorporate 30 or so different accounts (suppliers, creditors, customers ect) and it's difficult to make sense of what they're doing.
I recently started the level 2 AAT back in August, and since being placed in November I've quickly been given a lot of responsibility, I'm now in charge of the VAT returns at my firm and so I've been trying to learn everything there is to know as fast as I can. The one thing I'm really struggling with are these big intimidating adjustment with trade creditors journals that are passed, I understand the premise of doing these journals but I don't feel experienced enough to make a judgement on doing one myself, I don't even know what I should be looking for to even attempt to do one. Could someone please maybe explain to me why these are necessary and what I should be looking for? These journals usually incorporate 30 or so different accounts (suppliers, creditors, customers ect) and it's difficult to make sense of what they're doing.