SECOND MONTH
WEEK 5 (13 Nov 2022 - 17 Nov 2022)
In the fifth week, I was asked to record an accrual account for renting, salary, water, and electricity for Pemadam Negeri Kedah, my fourth company. To record the accrual account, I need to create a new journal entry. This is an example of how I record the rental accrual account, as seen in Figure 39. First, I must enter the accrual rental description, and then I must debit the office rental account and credit the accrual rental account. Finally, I entered the total cost of office rental, the date, and clicked the save button.
Figure 39
Furthermore, I have to record accrued salaries. After entering the accrual salary description, I must debit the accounts for allowances and salaries and credit the accrual accounts for allowances and salaries. Lastly, I entered the accrual salary amount, the date, and clicked the save button.
Figure 40
Moreover, I have to record accrual water and electricity. By doing this, I followed the same processes as before, such as debit the water and electricity account and credit accrual water and electricity account. This is because when recording an accrual account, the debit of the journal entry is posted to an expense account, and the credit is posted to an accrued expense liability account, which appears on the balance sheet.
Apart from that, I have to record the bank reconciliation of Pemadam Negeri Kedah for October 2022. As usual, I must first record the bank statement transaction into the cash book, and then reconcile the transaction at bank reconciliation.
On November 15, 2022, I am responsible for recording several accrual accounts for Mautapau Sdn Bhd, including salaries, Employees' Provident Fund (EPF), Social Security Organization (SOCSO), and Employment Insurance System (EIS).
Firstly, I will start to record a journal entry for accrued salaries. Mautapau Sdn Bhd has seven branches that need to be recorded such as Mautapau Headquarters, Arau, Jitra, BDI, Cloud, Changlun, and Amanjaya. Before that, I will open the excel file of each branch's monthly payroll report that I received from the client, as shown in Figure 41.
Figure 41
Following that, as shown in Figure 42, I enter the accrual salaries description, and then I record the salaries expense account on the debit side and the accrual salaries account on the credit side.
Figure 42
Next, as indicated in Figure 43, I record the salary expense for headquarters in the journal entry by referring to the net salary amount from headquarters' monthly salary report. So, for other branches, I use the same process to record salary expenses based on the amount of each branch's net salary.
Figure 43
Aside from that, when I finish recording accrued salaries, I must enter the accrual accounts for Employees' Provident Fund (EPF), Social Security Organization (SOCSO), and Employment Insurance System (EIS) in the journal entries. To do so, I first consult the monthly salary report for each branch, and then I must record both employee and employer accrual accounts of Employees' Provident Fund (EPF), Social Security Organization (SOCSO), and Employment Insurance System (EIS). Figure 44 illustrates that only the headquarters branch has accrual Employees' Provident Fund (EPF) data for employees. To record this, I debit the salaries account and credit the accrual EPF.
Figure 44
As seen in Figure 45, accrual Employees' Provident Fund (EPF) data for employers is also available only at the headquarters branch. To record this, I debit the EPF account and credit the accrual EPF.
Figure 45
Besides that, to record the accrual Social Security Organization (SOCSO) for employees, I use the same process which refers to the monthly salary report for each branch. As shown in Figure 46, accrual SOCSO for employees has six branches that must be recorded. In order to record this, I must debit the salaries account and credit the accrual SOCSO.
Figure 46
Meanwhile, as seen in Figure 47, accrual SOCSO for employers requires just two branches to be recorded which are Headquarters and Arau. To record SOCSO for employers, I must debit the SOCSO account and credit the accrual SOCSO account.
Figure 47
Furthermore, I must record employees' accrual Employment Insurance System (EIS). As seen in Figure 48, accrual EIS for employees includes six branches that must be recorded in the same manner as EPF. To record this, I must debit the salaries account and credit the accrual EIS.
Figure 48
Then, as shown in Figure 49, there are just two branches of accrual EIS for employers that must be recorded similarly to EPF. This must be recorded by debiting the EIS account and crediting the accrual EIS account.
Figure 49
The next day, I need to record the accounting fee for Mautapau Sdn Bhd for November 2022. As usual, I must enter the detailed description, and then debit the accounting fee account and credit the payable account, which is AMR Utara Sdn Bhd. In the end, I put in the total accounting fee, selected the date, and clicked the "save" button.
Figure 50
In addition, I was required to record cash sales of Delivery Hero Malaysia for three branches: BDI, Cool blog, and Arau. To do so, I must first access the excel file of the Delivery Hero Malaysia sales report that I obtained from the client. As seen in Figure 51, I also need to record Delivery Hero Malaysia's commission and Value-Added Tax (VAT) in the journal entry.
Figure 51
As illustrated in Figure 52, this is an example of how I record the cash sales of Delivery Hero Malaysia for Arau’s branch. First, I must enter the detailed description, after which I must credit the cash in hand account and debit the commission, VAT, and Delivery Hero Malaysia accounts. After choosing the date and entering the amount based on the Delivery Hero Malaysia sales report, then clicked the "save" button.
Figure 52
WEEK 6 (20 Nov 2022 - 24 Nov 2022)
In the sixth week, I have to record bank reconciliation for RMJ Widad Cahaya Enterprise, my fifth company, for the months of January to December 2021. As usual, I must first record the bank statement transaction into the cash book, and then reconcile the transaction at bank reconciliation. This process took awhile since this company was required to record transactions from the prior year.
Figure 53
On November 22, 2022, I need to record the cash sales for RMJ Widad Cahaya Enterprise.For RMJ Widad Cahaya Enterprise's cash sales, there are two that must be recorded: one from a sales spa and the other from a sales sinus medicine. Before I can start recording cash sales, I need to recalculate each month's total sales in the client sales book, as illustrated in Figure 54. By doing this, it will prevent inaccurate recording or computation.
Figure 54
After recalculating the total sales for each month, I started recording the cash sales in the journal entry as shown in Figure 55. I enter a full description of the cash sales, then debit the cash in hand account and credit the sinus medication sales account. Afterwards enter the amount that I have previously recalculated. For a whole year, from January to December, I recorded cash sales of sinus medications using the same process.
Figure 55
Following that, as indicated in Figure 56, I entered the spa cash sales in the journal entry. As usual, I provide a detailed description of the cash sales, then debit the cash in hand account and credit the spa sales account. Then enter the total amount of sales. I kept a record of spa cash sales using the same process for a whole year.
Figure 56
In order to take the JPJ driving test, as shown in Figure 57, I requested permission to take a leave of absence on November 23, 2022.
Figure 57
The next day, I just continued to record cash sales for RMJ Widad Cahaya Enterprise that I had not yet completed.
WEEK 7 (27 Nov 2022 - 1 Dec 2022)
In the seventh week, I record the accrual of water and electricity for RMJ Widad Cahaya Enterprise for the preceding 12 months. For accrual water, I debit the water expense account and credit the accrual water account. While for accrual electricity, I debit the electricity account and credit the accrual electricity account.
In addition, I must record accounting and tax fees for RMJ Widad Cahaya Enterprise. To record accounting fees, I need to create a new journal entry and fill in the details. Then I just debit the accounting fee account and credit AMR Utara Sdn Bhd's payable account. Finally, I entered the total accounting fee, chose the date, and clicked the "save" button. Meanwhile, recording tax fees is similar to recording accounting fees, except that I debit the tax fee account and credit AMR Utara Sdn Bhd, as shown in Figure 58.
Figure 58
On November 28, 2022, The Prime Minister, Datuk Seri Anwar Ibrahim announced an event holiday in conjunction with the 15th General Election (GE15).
The next day, I organized and filed the Mautapau Sdn Bhd documents received from the client into the appropriate file for each branch. After I completed categorizing and organizing the documents, I recorded all of the invoices into the purchase invoice and recorded the claims payments, cash sales, and cash purchases in a journal entry.
WEEK 8 (4 Dec 2022 - 8 Dec 2022)
In the eighth week, as is routine at the beginning of the month, I must organize and classify the Mautapau Sdn Bhd documents that I have received from the client. Then I must record Mautapau Sdn Bhd's cash sales, cash purchases, and sales for November 2022.
I used the same process as before to record cash sales and cash purchases. For cash sales, I record the transactions in the cash books by debiting the cash in hand account and crediting the sales account. Meanwhile, for cash purchases, I record the transactions in the journal entries by debiting the purchase account and crediting the cash in hand account.
After I finish recording cash sales and cash purchase, I have to record the sales of Mautapau Sdn Bhd. By doing this, I need to create a new journal entry and then fill in the description section with details about the cash sales, including the branch from where the sales were made, for example, Cash Sales of Unnie Mart Arau for November 2022. As illustrated in Figure 59, I debit the cash in hand account and credit the sales account.
Figure 59
Following that, as seen in Figure 60, I must first review the excel file of the sales report I received from the client in order to enter the amount of cash sales, and then I record the amount of cash sales based on the total sales in the sales report. Finally, I entered the date, and clicked the "save" button.
Figure 60
On December 6, 2022, I need to record the purchase invoice for Mautapau Sdn Bhd for November 2022, as shown in Figure 61. In order to record this, I must generate a new purchase invoice, choose the supplier, and enter the supplier invoice number. Then, in the account number box, I must choose the purchase account and give the description. Then I enter the purchase invoice amount, choose the date, and click the save button.
Figure 61
WEEK 9 (11 Dec 2022 - 15 Dec 2022)
In the ninth week, I need to record bank statement transactions into the cash books and record the bank reconciliation for Mautapau Sdn Bhd of November 2022. As usual, I must first record the bank statement transaction into the cash book, and then reconcile the transaction at bank reconciliation. This process takes some time because this company has two bank accounts that must be recorded. After I have finished recording the transactions from the bank statement and the bank reconciliation, my supervisor, Mrs. Jannah, will examine and evaluate my work.
Figure 62
Aside from that, I was responsible for recording the accrual account of rental for each Mautapau Sdn Bhd branch in the November 2022 journal entries. To record the accrual rental account, I must debit the shop and office rental accounts and credit the accrual rental account. Since Mautapau Sdn Bhd has six branches, I also need to keep records for each of them. This is an example of how I record the accrual rental account for Arau's branch, as illustrated in Figure 63.
Figure 63
On December 13, 2022, I must record payment vouchers for my sixth company, Pertubuhan Penyayang Jerlun (Jerlun Care), for the three years from 2020 to 2022. As a result, I analyzed the list of outgoing transactions and recorded them in the cash books by debiting the appropriate account heads and crediting the cash account.
Additionally, through a zoom meeting, I was given the opportunity to participate in a meeting hosted by AMR Business Consultant in Kuala Lumpur. The Zoom meeting was scheduled from 11 a.m. until 1 p.m. The meeting focuses on the business development phase. The business development has five phases which are existence, survival, success-disengagement, success-growth, take-off and resource maturity.
Figure 64
Overall, throughout the second month of my internship, I learned how to record the accrual account for renting, salary, water, and electricity, how to record cash sales of Delivery Hero Malaysia, and how to record sales in the Autocount system. Moreover, I gained extra knowledge of the business development phase by participation in a zoom meeting.
In the fifth week, I was asked to record an accrual account for renting, salary, water, and electricity for Pemadam Negeri Kedah, my fourth company. To record the accrual account, I need to create a new journal entry. This is an example of how I record the rental accrual account, as seen in Figure 39. First, I must enter the accrual rental description, and then I must debit the office rental account and credit the accrual rental account. Finally, I entered the total cost of office rental, the date, and clicked the save button.
Furthermore, I have to record accrued salaries. After entering the accrual salary description, I must debit the accounts for allowances and salaries and credit the accrual accounts for allowances and salaries. Lastly, I entered the accrual salary amount, the date, and clicked the save button.
Moreover, I have to record accrual water and electricity. By doing this, I followed the same processes as before, such as debit the water and electricity account and credit accrual water and electricity account. This is because when recording an accrual account, the debit of the journal entry is posted to an expense account, and the credit is posted to an accrued expense liability account, which appears on the balance sheet.
Apart from that, I have to record the bank reconciliation of Pemadam Negeri Kedah for October 2022. As usual, I must first record the bank statement transaction into the cash book, and then reconcile the transaction at bank reconciliation.
On November 15, 2022, I am responsible for recording several accrual accounts for Mautapau Sdn Bhd, including salaries, Employees' Provident Fund (EPF), Social Security Organization (SOCSO), and Employment Insurance System (EIS).
Firstly, I will start to record a journal entry for accrued salaries. Mautapau Sdn Bhd has seven branches that need to be recorded such as Mautapau Headquarters, Arau, Jitra, BDI, Cloud, Changlun, and Amanjaya. Before that, I will open the excel file of each branch's monthly payroll report that I received from the client, as shown in Figure 41.
Figure 41
Following that, as shown in Figure 42, I enter the accrual salaries description, and then I record the salaries expense account on the debit side and the accrual salaries account on the credit side.
Next, as indicated in Figure 43, I record the salary expense for headquarters in the journal entry by referring to the net salary amount from headquarters' monthly salary report. So, for other branches, I use the same process to record salary expenses based on the amount of each branch's net salary.
Aside from that, when I finish recording accrued salaries, I must enter the accrual accounts for Employees' Provident Fund (EPF), Social Security Organization (SOCSO), and Employment Insurance System (EIS) in the journal entries. To do so, I first consult the monthly salary report for each branch, and then I must record both employee and employer accrual accounts of Employees' Provident Fund (EPF), Social Security Organization (SOCSO), and Employment Insurance System (EIS). Figure 44 illustrates that only the headquarters branch has accrual Employees' Provident Fund (EPF) data for employees. To record this, I debit the salaries account and credit the accrual EPF.
As seen in Figure 45, accrual Employees' Provident Fund (EPF) data for employers is also available only at the headquarters branch. To record this, I debit the EPF account and credit the accrual EPF.
Besides that, to record the accrual Social Security Organization (SOCSO) for employees, I use the same process which refers to the monthly salary report for each branch. As shown in Figure 46, accrual SOCSO for employees has six branches that must be recorded. In order to record this, I must debit the salaries account and credit the accrual SOCSO.
Meanwhile, as seen in Figure 47, accrual SOCSO for employers requires just two branches to be recorded which are Headquarters and Arau. To record SOCSO for employers, I must debit the SOCSO account and credit the accrual SOCSO account.
Furthermore, I must record employees' accrual Employment Insurance System (EIS). As seen in Figure 48, accrual EIS for employees includes six branches that must be recorded in the same manner as EPF. To record this, I must debit the salaries account and credit the accrual EIS.
Figure 48
Then, as shown in Figure 49, there are just two branches of accrual EIS for employers that must be recorded similarly to EPF. This must be recorded by debiting the EIS account and crediting the accrual EIS account.
The next day, I need to record the accounting fee for Mautapau Sdn Bhd for November 2022. As usual, I must enter the detailed description, and then debit the accounting fee account and credit the payable account, which is AMR Utara Sdn Bhd. In the end, I put in the total accounting fee, selected the date, and clicked the "save" button.
In addition, I was required to record cash sales of Delivery Hero Malaysia for three branches: BDI, Cool blog, and Arau. To do so, I must first access the excel file of the Delivery Hero Malaysia sales report that I obtained from the client. As seen in Figure 51, I also need to record Delivery Hero Malaysia's commission and Value-Added Tax (VAT) in the journal entry.
As illustrated in Figure 52, this is an example of how I record the cash sales of Delivery Hero Malaysia for Arau’s branch. First, I must enter the detailed description, after which I must credit the cash in hand account and debit the commission, VAT, and Delivery Hero Malaysia accounts. After choosing the date and entering the amount based on the Delivery Hero Malaysia sales report, then clicked the "save" button.
In the sixth week, I have to record bank reconciliation for RMJ Widad Cahaya Enterprise, my fifth company, for the months of January to December 2021. As usual, I must first record the bank statement transaction into the cash book, and then reconcile the transaction at bank reconciliation. This process took awhile since this company was required to record transactions from the prior year.
On November 22, 2022, I need to record the cash sales for RMJ Widad Cahaya Enterprise.For RMJ Widad Cahaya Enterprise's cash sales, there are two that must be recorded: one from a sales spa and the other from a sales sinus medicine. Before I can start recording cash sales, I need to recalculate each month's total sales in the client sales book, as illustrated in Figure 54. By doing this, it will prevent inaccurate recording or computation.
After recalculating the total sales for each month, I started recording the cash sales in the journal entry as shown in Figure 55. I enter a full description of the cash sales, then debit the cash in hand account and credit the sinus medication sales account. Afterwards enter the amount that I have previously recalculated. For a whole year, from January to December, I recorded cash sales of sinus medications using the same process.
Following that, as indicated in Figure 56, I entered the spa cash sales in the journal entry. As usual, I provide a detailed description of the cash sales, then debit the cash in hand account and credit the spa sales account. Then enter the total amount of sales. I kept a record of spa cash sales using the same process for a whole year.
In order to take the JPJ driving test, as shown in Figure 57, I requested permission to take a leave of absence on November 23, 2022.
The next day, I just continued to record cash sales for RMJ Widad Cahaya Enterprise that I had not yet completed.
WEEK 7 (27 Nov 2022 - 1 Dec 2022)
In the seventh week, I record the accrual of water and electricity for RMJ Widad Cahaya Enterprise for the preceding 12 months. For accrual water, I debit the water expense account and credit the accrual water account. While for accrual electricity, I debit the electricity account and credit the accrual electricity account.
In addition, I must record accounting and tax fees for RMJ Widad Cahaya Enterprise. To record accounting fees, I need to create a new journal entry and fill in the details. Then I just debit the accounting fee account and credit AMR Utara Sdn Bhd's payable account. Finally, I entered the total accounting fee, chose the date, and clicked the "save" button. Meanwhile, recording tax fees is similar to recording accounting fees, except that I debit the tax fee account and credit AMR Utara Sdn Bhd, as shown in Figure 58.
On November 28, 2022, The Prime Minister, Datuk Seri Anwar Ibrahim announced an event holiday in conjunction with the 15th General Election (GE15).
The next day, I organized and filed the Mautapau Sdn Bhd documents received from the client into the appropriate file for each branch. After I completed categorizing and organizing the documents, I recorded all of the invoices into the purchase invoice and recorded the claims payments, cash sales, and cash purchases in a journal entry.
WEEK 8 (4 Dec 2022 - 8 Dec 2022)
In the eighth week, as is routine at the beginning of the month, I must organize and classify the Mautapau Sdn Bhd documents that I have received from the client. Then I must record Mautapau Sdn Bhd's cash sales, cash purchases, and sales for November 2022.
I used the same process as before to record cash sales and cash purchases. For cash sales, I record the transactions in the cash books by debiting the cash in hand account and crediting the sales account. Meanwhile, for cash purchases, I record the transactions in the journal entries by debiting the purchase account and crediting the cash in hand account.
After I finish recording cash sales and cash purchase, I have to record the sales of Mautapau Sdn Bhd. By doing this, I need to create a new journal entry and then fill in the description section with details about the cash sales, including the branch from where the sales were made, for example, Cash Sales of Unnie Mart Arau for November 2022. As illustrated in Figure 59, I debit the cash in hand account and credit the sales account.
Following that, as seen in Figure 60, I must first review the excel file of the sales report I received from the client in order to enter the amount of cash sales, and then I record the amount of cash sales based on the total sales in the sales report. Finally, I entered the date, and clicked the "save" button.
On December 6, 2022, I need to record the purchase invoice for Mautapau Sdn Bhd for November 2022, as shown in Figure 61. In order to record this, I must generate a new purchase invoice, choose the supplier, and enter the supplier invoice number. Then, in the account number box, I must choose the purchase account and give the description. Then I enter the purchase invoice amount, choose the date, and click the save button.
WEEK 9 (11 Dec 2022 - 15 Dec 2022)
In the ninth week, I need to record bank statement transactions into the cash books and record the bank reconciliation for Mautapau Sdn Bhd of November 2022. As usual, I must first record the bank statement transaction into the cash book, and then reconcile the transaction at bank reconciliation. This process takes some time because this company has two bank accounts that must be recorded. After I have finished recording the transactions from the bank statement and the bank reconciliation, my supervisor, Mrs. Jannah, will examine and evaluate my work.
Aside from that, I was responsible for recording the accrual account of rental for each Mautapau Sdn Bhd branch in the November 2022 journal entries. To record the accrual rental account, I must debit the shop and office rental accounts and credit the accrual rental account. Since Mautapau Sdn Bhd has six branches, I also need to keep records for each of them. This is an example of how I record the accrual rental account for Arau's branch, as illustrated in Figure 63.
Figure 63
On December 13, 2022, I must record payment vouchers for my sixth company, Pertubuhan Penyayang Jerlun (Jerlun Care), for the three years from 2020 to 2022. As a result, I analyzed the list of outgoing transactions and recorded them in the cash books by debiting the appropriate account heads and crediting the cash account.
Additionally, through a zoom meeting, I was given the opportunity to participate in a meeting hosted by AMR Business Consultant in Kuala Lumpur. The Zoom meeting was scheduled from 11 a.m. until 1 p.m. The meeting focuses on the business development phase. The business development has five phases which are existence, survival, success-disengagement, success-growth, take-off and resource maturity.
Overall, throughout the second month of my internship, I learned how to record the accrual account for renting, salary, water, and electricity, how to record cash sales of Delivery Hero Malaysia, and how to record sales in the Autocount system. Moreover, I gained extra knowledge of the business development phase by participation in a zoom meeting.
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