Today I tried to run the CAATs JV test for Khum Fatt Engineering, it still has the variances, I then noticed it is due to several reasons. The first is because the general ledger provided to us is until the month of December, as the client sent us the up-to-date general ledgers however the ending trial balance is for the month of October, so it is for sure it will have variances. Second, is due to the trade debtor and creditor individual ledgers, on the trial balance the individual ledgers are being summarized under the trade debtor accounts, with just one account, but the individual ledgers are many, and it has different account codes to differentiate between them, taking for example, the account for trade debtor general accounts is 3000/000, while debit individual accounts can be 3000/100, 3000/T01 and so on, so when we do the test on IDEA, it will not going to match as all the accounts are having different codes. So to solve it, we need to standardize it, to do it manually, I change all the debtor individual ledgers’ account codes to be the same as the general trade debtor account code. Coming back to the first identified question, to solve it, when doing data cleaning, I need to filter out the month and deselect the month of November and December, then the question will be solved. Another thing I did today is to follow up with the kick-off meeting arrangement with MyCo2, after I send the follow-up email, the client respond quickly and they agree with the scheduled date, and we will have the kick-off meeting tomorrow.
Main things that have learned
-Learn how to solve CAATs JV test problem when the account has a debtor or creditor
individual ledgers
Comment/idea/opinion
One thing I learn is when we do not receive a client response, even though it is not appropriate to do it, we need to always follow up with clients, it is to ensure the other progress is not disturbed and if the client still does not reply to us even after we have followed with them, then nothing we can do but only to wait for his reply and report it to the manager because we have done what we can do and it is all depend on the client side.
コメント