I'm new to this and have started on L2 Bookkeeping. I've grasped the dual effect of double entry, but I'm REALLY struggling with how to record this in the General Ledger, particularly where VAT is concerned. Can you point me to any of your videos that would help?
Hi Will! Thank you so much for the walkthrough! I found it very helpful. Some questions: Does it matter in the exam if we put numbers with a comma after the thousand digit? Will it be okay if I don't? Do we need to add the .00 if the number is even without any decimal points? I started to note all numbers eg 250.00. I don't know if that's going to be looked at as a mistake. About Question 9: That's a bit silly, but how do I know on what side of the transaction am I? How do I know if I am Tutu of if I am Gordon? Many thanks, Agnieszka
Hi, glad you found it helpful. To answer your questions - No it wouldn’t matter if you put the comma’s in. You’d need to enter .00 if it asks for the answer to two decimal places. So within the statement it states “to Gordon glass”. This would indicate it’s the business you’re working for that is renting out the building to the customer.
