Make journal entries for accrued electricity and gas

  • Status: Closed
  • Hadiah: $100
  • Entri Diterima: 1
  • Pemenang: Shia5

Deskripsi Kontes

Hello,

I need someone to create some manual journal entries for electricity A/C (expense A/C), Gas (expense A/C), and accrued electricity and gas A/C (liability A/C).

Period is from 1 may 2018 until and including 31 Aug 2018.
There are 4 different types of invoices received from energy provider (AGL) - 2 bills are received quarterly, and 2 bills are received monthly.
You need to make monthly journal entries for the quarterly and monthly invoices

Please go through the attached excel.
There are 4 sheets in this excel
Sheet-1 - This is where you need to do the journals
Sheet-2 - Few journals made by our accountant (This is a sample for you.) But keep in mind that these journals might not be accurate.
Sheet-3 - Calculations made for the different types of invoices, this will help you to make the journal entries in Sheet-1. You can modify sheet-3 the way you think is correct.
Sheet-4 - Information regarding 4 types of invoices we receive (3 invoices are for gas and 1 invoice is for electricity).

This is a contest, hence I shall be comparing the work of you people.
This work can only be done by someone who has accrual accounting experience. A qualified CA/CPA/ICAA is preferred, but not mandatory. Experience is very important.
Work needs to be 100% accurate.
The person who will win this contest will receive lots of other accounting work from me.

THERE IS ONE ERROR IN THE FILE
CORRECT FIGURE IN sheet-3 J25 IS $4037.32

Remember, everytime an invoice is paid and closed, a payment journal is made by the accounting software and posted.
Hence, your manual journal entries must not include bank.

Only 1 person wins contest. However, even if someone does not win contest but his work is 100% accurate and has good communication skills, there is good chance I shall hire him/her as an hourly accountant for my other assignments. Hence, try to give your best effort.

Message me anytime.

Thankyou

Keahlian yang Disarankan

Entri teratas dari kontes ini

Tampilkan Entri Lainnya

Papan Klarifikasi Publik

  • naserhossain2018
    Penyelenggara Kontes
    • 5 tahun yang lalu

    Please read project description again

    • 5 tahun yang lalu
  • naserhossain2018
    Penyelenggara Kontes
    • 5 tahun yang lalu

    Hi Guys, project description has been amended.

    • 5 tahun yang lalu
  • daniyal3214
    daniyal3214
    • 5 tahun yang lalu

    Can you explain what is wrong? Expenses are increased and so debited and liability (Accrued) increased so made credit? I can assure that there is some misunderstanding.

    • 5 tahun yang lalu
  • naserhossain2018
    Penyelenggara Kontes
    • 5 tahun yang lalu

    Muhammad D. your one is wrong

    • 5 tahun yang lalu
  • naserhossain2018
    Penyelenggara Kontes
    • 5 tahun yang lalu

    bye

    • 5 tahun yang lalu
  • naserhossain2018
    Penyelenggara Kontes
    • 5 tahun yang lalu

    wrong

    • 5 tahun yang lalu
  • daniyal3214
    daniyal3214
    • 5 tahun yang lalu

    Also, if there is any payment made for these accruals? Where can I track that from?

    • 5 tahun yang lalu
  • daniyal3214
    daniyal3214
    • 5 tahun yang lalu

    Its completed but you just said that I can use monthly apportionment in sheet 3? But then you just said that sheet 3 might be wrong? Can you tell me which sheet should have accurate data which I can rely on? Its completed from my end by the way. Just confirm this point so I can send you file.

    • 5 tahun yang lalu
  • naserhossain2018
    Penyelenggara Kontes
    • 5 tahun yang lalu

    you need to find out errors in sheet -3 and then do journals in sheet-1

    • 5 tahun yang lalu
  • naserhossain2018
    Penyelenggara Kontes
    • 5 tahun yang lalu

    sheet-3 might be wrong, so dont just create journals based on sheet-3

    • 5 tahun yang lalu
  • naserhossain2018
    Penyelenggara Kontes
    • 5 tahun yang lalu

    there are 3 accounts in total...elec, gas and accrued elec and gas

    • 5 tahun yang lalu
  • naserhossain2018
    Penyelenggara Kontes
    • 5 tahun yang lalu

    see how its done in sheet-2

    • 5 tahun yang lalu
  • daniyal3214
    daniyal3214
    • 5 tahun yang lalu

    Just one question; would you like to make all the accruals posting as a single account or each accrual must be disclosed separately in entries?

    • 5 tahun yang lalu
  • daniyal3214
    daniyal3214
    • 5 tahun yang lalu

    I am going to upload the file here very soon.

    • 5 tahun yang lalu
  • naserhossain2018
    Penyelenggara Kontes
    • 5 tahun yang lalu

    sheet-3 has the monthly apportionment calculations, which will help you to make the journal entries in sheet-1

    • 5 tahun yang lalu
  • daniyal3214
    daniyal3214
    • 5 tahun yang lalu

    I don't have the option to bid however, I can only directly submit my entry. I think that is how the contest works here. Correct me if I am wrong. I am a qualified Financial Accountant and have been working with one of the Big 4 Audit firms so this is a really simple stuff for me.

    • 5 tahun yang lalu
    1. naserhossain2018
      Penyelenggara Kontes
      • 5 tahun yang lalu

      thats fine, just send to me your work

      • 5 tahun yang lalu
    2. naserhossain2018
      Penyelenggara Kontes
      • 5 tahun yang lalu

      this is financial accounting - accrual accounting

      • 5 tahun yang lalu
  • naserhossain2018
    Penyelenggara Kontes
    • 5 tahun yang lalu

    please bid in contest

    • 5 tahun yang lalu
  • naserhossain2018
    Penyelenggara Kontes
    • 5 tahun yang lalu

    i posted a contest for $100

    • 5 tahun yang lalu
  • naserhossain2018
    Penyelenggara Kontes
    • 5 tahun yang lalu

    you can link sheet-1 with sheet-3 with formulas

    • 5 tahun yang lalu
  • daniyal3214
    daniyal3214
    • 5 tahun yang lalu

    Would you prefer automation in journal entries with respect to amount, calculations and/or debt/credit entries? Or you would like to enter data manually?

    • 5 tahun yang lalu

Lihat lebih banyak komen

Bagaimana untuk memulai sebuah kontes

  • Buat kontes Anda

    Buat Kontes Anda Cepat dan mudah

  • Dapatkan jutaan entri

    Dapatkan Jutaan Entri Dari seluruh dunia

  • Pilih entri terbaik

    Pilih entri terbaik Unggah file - Mudah!

Buat sebuah Kontes Sekarang atau Gabung dengan kami Hari ini!