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Remittance slip example for Quality Assurance

so a remittance advice question this is a question from the a practice assessment so you've received a check for 1,567 from J ja whatever see it limited they incorrectly state is in full settlement of the account there so when they present a check and they've said that it's in full settlement and so they've done a remittance advice here as they told you told you that's part what the situation is here's the customer account from the sales Ledger here device is saying that they PID that they not actually sort of said what they paid they're just saying it's in full settlement really here show which three transactions are standing by identifying the relevant transactions we so so which one of these three going to which one which ones you going to highlight as being uh you know outstanding uh in here uh it's a three mark question three Mar question now the important thing on this question is to not get stuck in terms of time really and just sort of get get on with it because you could spend 15 minutes on this one and that's why in let's say other tasks you and do them do them faster H but we got three Mark questions so we'll go from now 3 minutes for this one if you finish it early you'll skip towards 3M but the the Well when the the 4 minute Mark in this question this video I'm going to give you the answer and how I went about it as well [Applause] [Music] [Applause] [Music] [Music] okay [Applause] [Music] [Applause] [Applause] [Applause] so you should have coming up to 2 minutes on this question so you should have hopefully made a bit of progress into it now um h [Applause] [Applause] okay so there time now uh we can now let's look at how I did the task here so in terms of let's break down this question here we've got this amount here that we got to get to so in here there are there are some figures uh which will get to that amount there at least um within here and we got to see what's what's left over and now the way to approach these questions is to always look down the right hand side first you know the the the of the um the credit side in the sales Ed account really let's just look at what what um what sort of has gone on in terms of so here you can see we've got a bank amount that's actually come in in here and that bank amount here I sort of deducted from the balance board forward straight away so I got that one from there and that left me with £480 left over which is that credit note there so I could clear those three out IM immediately by look at so you always want to look down the right hand side what have you got you got credit notes and your your bank bank accounts or payments really into the bank account so it's gone debit Bank credit as trade receival control account and also then credit this customers account in the sales ledger so I've cleared those ones there by looking down the right hand side finding a payment that I had in there and deducting it from the balance Bo forward that gave me a figure um that was a left over as a credit note those three clear definitely not those okay then I looked at the figures on the debit side of the sales customers account really and this is the amount that's been paid 1567 here and I had this invoice here which is way larger than that figure so that couldn't be POS possibly part of it so I cleared cleared that one off really and then I looked it what could I what could get me above the one 567 on this side because I'm going to have to deduct some form of credit note from it I've got some credit notes here it's going to deduct from this amount here what will get me above it well those two together wouldn't get me above it so that's not going to work but those two did get me above the figure and know that got me to 15999 and I could deduct off this one credit note from here so that was those three there was that there and then that meant that these three ones were the leftover ones those three are the left over and that and that's how it went it so you do need to have a bit of a strategy going to this one if you just sort of randomly uh putting you know trying to add add things went together H you'll run out of time quite rapidly if you find yourself getting a little bit stressed out and froed Out Hold this question till something like the last one there don't use up 15 or 20 minutes on this question because it's three marks a lot of it is about a lot of this one is is about um you know will you get hooked up on it now in this assessment this was in Task 1 C so this was like really right up in the first question in there a stent could very easily blow 20 minutes on this task you have a complete um breakdown really in terms of in terms of how it is and then walk out the exam so it's quite it's a it's a test of mental toughness this one so why I said do this task this and all the questions which we do um so do them to time um because you'll get used to the idea of it and we'll see what the what the breakdowns in so this one here was very much about strategy about how we're going to go about it look down the credit side first you got a payment here right okay okay the brought forward is is very rarely going to be actually in the in the answer you to be carried forward there so it's usually going to be you part of this calculation there so that's how I did it um and then that's how I got to to do this one in 3 minutes uh but what I would say is is it even took me 3 minutes to knock knock this one out uh where whereas you know the normal ones I'm usually getting a mark every sort of 20 seconds or something whereas if I'm using a full my full alloted time for this that's that's quite a a tough one uh hopefully that was useful see you in the next one