Make journal entries for accrued electricity and gas

  • Status: Closed
  • Hadiah: $100
  • Penyertaan diterima: 1
  • Pemenang: Shia5

Ringkasan Peraduan

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

Kemahiran Disyorkan

Penyertaan teratas dari peraduan ini

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Papan Penjelasan Umum

  • naserhossain2018
    Penganjur Peraduan
    • 2 bulan yang lalu

    Please read project description again

    • 2 bulan yang lalu
  • naserhossain2018
    Penganjur Peraduan
    • 2 bulan yang lalu

    Hi Guys, project description has been amended.

    • 2 bulan yang lalu
  • daniyal3214
    daniyal3214
    • 3 bulan 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.

    • 3 bulan yang lalu
  • naserhossain2018
    Penganjur Peraduan
    • 3 bulan yang lalu

    Muhammad D. your one is wrong

    • 3 bulan yang lalu
  • naserhossain2018
    Penganjur Peraduan
    • 3 bulan yang lalu

    bye

    • 3 bulan yang lalu
  • naserhossain2018
    Penganjur Peraduan
    • 3 bulan yang lalu

    wrong

    • 3 bulan yang lalu
  • daniyal3214
    daniyal3214
    • 3 bulan yang lalu

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

    • 3 bulan yang lalu
  • daniyal3214
    daniyal3214
    • 3 bulan 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.

    • 3 bulan yang lalu
  • naserhossain2018
    Penganjur Peraduan
    • 3 bulan yang lalu

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

    • 3 bulan yang lalu
  • naserhossain2018
    Penganjur Peraduan
    • 3 bulan yang lalu

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

    • 3 bulan yang lalu
  • naserhossain2018
    Penganjur Peraduan
    • 3 bulan yang lalu

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

    • 3 bulan yang lalu
  • naserhossain2018
    Penganjur Peraduan
    • 3 bulan yang lalu

    see how its done in sheet-2

    • 3 bulan yang lalu
  • daniyal3214
    daniyal3214
    • 3 bulan 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?

    • 3 bulan yang lalu
  • daniyal3214
    daniyal3214
    • 3 bulan yang lalu

    I am going to upload the file here very soon.

    • 3 bulan yang lalu
  • naserhossain2018
    Penganjur Peraduan
    • 3 bulan yang lalu

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

    • 3 bulan yang lalu
  • daniyal3214
    daniyal3214
    • 3 bulan 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.

    • 3 bulan yang lalu
    1. naserhossain2018
      Penganjur Peraduan
      • 3 bulan yang lalu

      thats fine, just send to me your work

      • 3 bulan yang lalu
    2. naserhossain2018
      Penganjur Peraduan
      • 3 bulan yang lalu

      this is financial accounting - accrual accounting

      • 3 bulan yang lalu
  • naserhossain2018
    Penganjur Peraduan
    • 3 bulan yang lalu

    please bid in contest

    • 3 bulan yang lalu
  • naserhossain2018
    Penganjur Peraduan
    • 3 bulan yang lalu

    i posted a contest for $100

    • 3 bulan yang lalu
  • naserhossain2018
    Penganjur Peraduan
    • 3 bulan yang lalu

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

    • 3 bulan yang lalu
  • daniyal3214
    daniyal3214
    • 3 bulan 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?

    • 3 bulan yang lalu

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