Level 2 Certificate in Bookkeeping (QCF) 601/0730/3 – Apprenticeship version

Overview

This qualification gives candidates the necessary underpinning knowledge in carrying out a range of day-to-day bookkeeping routines and activities using a manual double-entry bookkeeping system up to the Trial Balance, including the use of a commercially available computerised accounting software package.

The IAB Level 2 Certificate in Bookkeeping – Apprentice version is made up of:

5 – Online Computerised Tests
4 – Paper assignments
1 – Project
2 – Examinations

Click Here to download the Purpose Statement

Who is this qualification for?

The IAB Level 2 Certificate in Bookkeeping is suitable for:

  • Individuals who wish to further their studies of bookkeeping
  • Individuals who have some practical knowledge and skills and wish to gain an accredited competence qualification in this subject.

What you’ll study

The IAB Level 2 Certificate in Bookkeeping – Apprentice version contains the following units:

Principles of recording and processing financial transactions – M/505/1092 (level 2 – 2 credits)

  • Understand the role of the books of prime entry
  • Understand the principles of coding
  • Understand the double entry bookkeeping system
  • Understand the various types of discount
  • Understand the use of the journal
  • Understand control accounts
  • Understand the Purpose of the Trial Balance

Professional values and basic business legislation – F/600/8757 (level 2 – 1 credit)

  • Understand the importance of Integrity and professionalism
  • Understand that legislation exists relating to the workplace
  • Know the fundamental principles of money laundering legislation

Principles of VAT – A/505/1094 (level 3 – 2 credits)

  • Understand current VAT regulations

Banking procedures – R/505/1098 (level 1 – 1 credit) *

  • Understand the banking process
  • Understand document retention and storage requirements

Preparing and recording financial documentation – H/505/1106 (level 2 – 2 credits)

  • Prepare the financial documents to be sent to credit customers
  • Enter sales invoices and credit notes into the appropriate books of prime entry
  • Process payments from customers
  • Process suppliers’ invoices and credit notes
  • Enter supplier invoices and credit notes into the appropriate books of prime entry
  • Prepare payments to suppliers

 Maintaining petty cash records – R/505/1120 (level 1 – 1 credit)*

  • Complete a petty cash voucher
  • Maintain an analysed petty cash book
  • Maintain the petty cash balance

 Maintaining and reconciling the cash book – D/505/1122 (level 2 – 2 credits)

  • Maintain a columnar cash book
  • Reconcile a bank statement with the cashbook

Maintaining the journal – H/505/1123 (level 2 – 2 credits)

  • Open a new set of  double entry bookkeeping records using the journal
  • Use the journal to correct bookkeeping errors
  • Use the journal to record bad debts
  • Use the Journal to account for wages, salaries and employer on-costs

Processing ledger transactions and extracting a trial balance – M/505/1125 (level 2 – 2 credits)

  • Process ledger transactions from the books of prime entry
  • Prepare ledger balances and an initial trial balance

Maintaining control accounts – K/505/1124 (level 2 – 1 credit)

  • Prepare sales ledger, purchase Ledger and VAT control accounts
  • Reconcile sales ledger, purchase ledger and VAT control accounts

Setting up accounting software to manage accounting information – F/601/3649 (level 2 – 3 credits)

  • Be able to enter and/or restore data using a Computerised Accounting Package at the start of the financial year
  • Be able to set up Assets, Liabilities, Capital and Budgets
  • Be able to record customer and supplier invoices and credit notes
  • Be able to process receipts from customers
  • Be able to process payments to suppliers
  • Be able to process non-credit payments and receipts
  • Be able to process Journals
  • Be able to produce reports using selection criteria and parameters

Process routine payments and receipts using a computerised system –  A/601/3651 (level 2 – 3 credits)

  • Be able to enter and/or restore data using a Computerised Accounting Package
  • Be able to process petty cash payments and receipts
  • Be able to process non-credit payments and receipts
  • Be able to correct transaction errors
  • Be able to process salary journals
  • Be able to carry out bank reconciliation
  • Be able to produce reports using selection criteria and parameters

Carry out stock control processes using a computerised system – F/601/3652 (level 2 – 2 credits)

  • Be able to enter and/or restore data using a Computerised Accounting Package
  • Be able to create and edit Sales Orders
  • Be able to create and edit Purchase Orders
  • Be able to amend Sales Order Status
  • Be able to amend Purchase Order Status
  • Be able to generate sales invoices
  • Be able to create stock credit notes
  • Be able to update the sales ledger and stock levels
  • Be able to produce reports using selection criteria and parameters

Work effectively in accounting and finance – Y/504/3973 (level 2 – 5 credits)

  • Understand the accounting or payroll function within an organisation
  • Be able to use a range of communication skills
  • Work independently or a s part of a team
  • Develop skills and knowledge to meet personal and organisational needs
  • Understand ethical values and principles
  • Understand sustainable values

Introduction to bookkeeping* – M/600/8737 (Level 1 – 1 credit)

  • Understand the job role and career  path for a bookkeeper
  • Understand different types of business organisation
  • Know the terminology used in bookkeeping

* If already covered in level 1 then no need to take the assessment

Learning Resources Available

The Level 2 Bookkeeping QCF book covers the manual elements of this qualification, and can be bought here

Next Steps After Passing

Upon successful completion of this qualification you could move onto one of the following qualifications:

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