I've no software to do my Level II computerised exam on, although I have been thinking about which one to go for when I fly solo.
Members on the ICB forum have used the free Fusion trial, but it's only for 30 days which doesn't seem long enough to have a play, do a mock, then the paper itself.
Members on here recommend VT Transaction but some say that you can;t run all the reports on the trial version which impacts on your ability to complete the exam.
Has anyone on here say the paper recently, and if so, what did you use?
-- Edited by Jo Gordon on Tuesday 22nd of November 2011 04:44:56 PM
-- Edited by Jo Gordon on Tuesday 22nd of November 2011 07:52:49 PM
I think the Fusion trial is 60 days, at least it used to be, I will check in the morning.
I think you could generalise your question and ask which package people prefer to use in general, rather than just for the examination.
The examination is scenario based, so you can pick a software package that you intend on using in your every day work.
The ICB has done some software reviews in the past, you can check these out by searching the ICB website for 'Software Review' http://www.bookkeepers.org.uk/search
I've just passed my ICB level 2 computerised exam this week and used VT Transactions.
When I phoned ICB to have the paper sent out I explained that I intended to use VT. The lady that answered the phone said no problem, that I wouldn't lose marks for something that my computerised package was not capable of. The object of the exam was to ensure that you could use your particular software to the full.
I really like VT and intend to use it when I set up my practise.
Elizabeth
-- Edited by betty121 on Tuesday 22nd of November 2011 06:26:19 PM
I asked for software recommendations a while ago, and several people on here recommended VT. Becuase I'm not at that stage with my business yet, I haven't trialled it yet never mind purchased it.
I only really got the idea about Fusion after reading a post on the ICB Forum, where a few people seem to have used the free trial of Fusion for their exam papers. The same posts hinted that those that used VT were not able to print some reports using the VT trial version.
James - I've just checked the Fusion website and it definatley says 30 day trial (unless I'm looking at the wrong place).
Elizabeth - thanks for that. I think more and more I'm leaning towards VT. Did you purchase the full version for your exam or use the trial? I'd hate to go with the trial version then become stuck part way through...
Do I need Accounts as well as Transaction+. I'm guessing I do, but thought I'd check.
Finally, if I download the software now onto my hubby's laptop, can I then transfer it onto a new "business" machine when the time comes to buy one? Not sure how easy that is or whether I'd have to purchase another licence...
If I download VT now onto our PC, then buy a new machine to use in my business, would I be able to get everything transferred across? Don't want to have to purchase a second licence for my new machine...
Can VT be transferred from one machine to another? If I donwload it now onto our old PC, then buy a new business one later, how easy is it to move across?
I purchased the full version of VT Final Accounts (which includes VT Transactions). I had already used up my free trial version by the time I was ready to sit the exam. I haven't started my business yet as I want to complete ICB to Level 3 (including self assessment and payroll) before I start. I will probably go on to Level 4 eventually. It is great to have the software before you start your business as you get lots of practice before getting that first client. I also purchased a copy of sage instant accounts as I did intend to use this for the exam but once I started to use VT I couldn't go back to sage.
As far as I am aware the only report I couldn't print out was the list of customer and supplier details.
Best of luck on your bookkeeping journey.
PS I am really enjoying my studies and can't wait to get started on some real life clients. Well done for choosing ICB, I think it is a geat qualification.
Well done for choosing ICB, I think it is a geat qualification.
Great quote Betty
The ICB Fusion offer is 60 days I have just checked, the standard is 30, follow the link in the ICB members area, or email the ICB and ask for it.
VT is fine, 1 or 2 of the exam papers are still using Sage terminology and there is one report which Sage does that VT does in 2, but you can print both and submit it would be fine. The information is what is checked, not the format of the reports (within reason)
I think the ICB is as good a qualification as AAT. To the best of my knowledge now that ICB has introduced the Level 4 qualification I don't think there is anything in AAT that isn't covered in ICB.
Which makes one wonder why AAT MAAT MIPs are deemed to be accountants whilst ICB people are bookkeepers!
I'm not disagreeing with your statement by the way and there are a lot of accountants out there who have no hair because they pulled it out in frustration that AAT is considered an accountancy qualification.
I've got many of the AAT study texts (always up for a bargain from Amazon resellers) and the conclusion that I've reached is that they tend to be very (very, very) cut down versions of the ACCA texts.
However, after saying that, there is the alternate arguement that accountants have to know too much, much more than they will ever use in the real world making AAT level qualifications accountancy qualifications for those who will work as practice accountants for small business.
In conclusion I would say that you are not too far from the truth in your statement in that higher level ICB (or IAB for that matter) and AAT are really not that dissimilar.
actually, back in a sec...
Just had a quick glance at the BPP ACCA paper 1.1 study text for financial reporting, AAT Level 4 financial statements text by Kaplan and advanced paper 6 financial statements for CAT and to be honest the AAT study text comes in a poor third on content.
On the bright side there of course it means that at that level there's plenty of mock papers covering exactly the same material to be practicing on. (and of course the ACCA / CAT one's are freely available).
The only issue really remains with the employers idea that AAT is the qualification that they need!
All the best,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Oh no. After playing around with Fuson which I got on trial, and having decided I ddin't really like it, I downloaded a free trial of VT. Only to find that I don't like that either!!!
I started on the Orchard Bistro mock exam paper, and my first problem was VT didn't have enough fixed asset codes. I created new ones only to find that no matter what I did it kept re-sorting them so that F&F additions came before F&F cost b/fwd on the TB. When running a TB I also noticed that petty cash was appearing within the bank instead of seperatley. And, I didn't like the TB as it gives everything in one list rather then seperate debit and credit columns. Then, I couldn't work out how to run a report that showed the suppliers that I'd just created (names, addresses, etc). So I gave up. I'm a bit worried that it's going to take me too long to get my head around it in time for my exam which is being posted out today.
So, my current thinking is to use Fusion for my exam, and keep going with VT until I get my around it. I've read a few posts that say VT grows on you. At the moment I hope so, but I'm not so sure...
My opinion is you're trying to cut too many corners.
The trial balance you are talking about in VT - are you talking about VT Final Accounts or VT Transaction Plus? VT Final Accounts is for after all the transactions have been entered in VT Transaction Plus and has only one column. VT Transaction Plus has two columns - for Dr and Cr. Also the bank and cash are separate but they will be amalgamated in VT Final Accounts.
The way I would do an exam is learn the software first, try a mock exam and then book the exam. With these free versions you are not being given enough time to learn them - hence why I think you are cutting corners.
There are aspects of VT I like and those I don't like. Similarly with Sage - it is not very forgiving if you make a mistake unlike VT which is a lot easier to correct things in.
If you do use VT for your exam I'd ignore the VT Final Accounts - this is really for real life situations and having better looking final accounts for clients.
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Never buy black socks from a normal shop. They shaft you every time.
I found VT Transactions very difficult to get used to after moving over from Sage, and let the trial period run out without renewing it.
It was only after I needed a cost effective multicompany software package I returned to VT. Now I have got my head round its idiosyincracies I now would not want to change.
As for your problem with the TB sorting. If you go to
Set Up>Standard Trial Balance Formats>
[select the set up type you created the company in]>
select Headings>
[select F&F Additions from the list)>
[move its postion using the up/down arrows at the side]
That should fix the F&F additions in the position you have set it.
I did go back to it on Saturday, doing a bit more of the mock exam and trying to run reports. I do really like the way that you can go back and amend previously entered transactions.
Thanks for the tip on re-sorting the TB. I'll give that a go tonight.
Peasie
It's definatley VT Plus I'm trialling, and my TB is definatley one column only. Cashbook also came as part of the trial but I hvane't touched that yet. Final Accounts does not come as part of the trial.
It's definatley VT Plus I'm trialling, and my TB is definatley one column only. Cashbook also came as part of the trial but I hvane't touched that yet. Final Accounts does not come as part of the trial.
I had just looked at my own copy and saw two columns so just assumed there was a mixup with that and Final Accounts. I must at some point have chosen the two column version for the trial balance and after all this time forgotten there was a choice to make. It was only when Bill pointed it out I realised.
__________________
Never buy black socks from a normal shop. They shaft you every time.
Still playing around with the mock exam paper and VT...
I can now accept that the TB is a single column only, and Bill's tip to re-sort works.
I've noted Betty's comments about being unable to print off lists of customer and supplier details - something that the exam paper is asking me to do. Is there something else I could print off her to show to show that I have created these accounts? The only reports I seem to be able to find are where there are transactions, and as I haven't posted any transactions yet I can't get anything on any report. If I were to print them off later, after I've input some transactions, would I still pass the exam?
The paper also asks me to create some new sales and purchases accounts, and then print a report to show them. I can't find any report to show these and the help facility states that there is no chart of accounts report in VT and tells me to run a TB. However, I have the same problem, in that because I have no transactions these accounts won't appear on a TB.
I think I'm definatley warming to VT for my business, but I'm a bit worried about using it for my exam. I know people have passed using it, but could someone tell me how you overcame these issues?
To get your trial balance in two colums go to display, trial balance, click options at the bottom left hand side and tick "display separate debits and credits".
Whilst there tick "display accounts with a nil balance" which is just above. If you then run a print of this for the exam it is your chart of accounts.
As you already know you can't print off a full list of suppliers and customers. You can however print off a statement for each supplier and customer that includes all of their details which will show that you have entered in the information. To do this go to display, defined account, select supplier/customer, all supplier/customers will appear on left hand side just click on the one you want. On bottom left hand side click statement. You can then print this showing their address and account number.
I would print out each report in the order the exam is asking for. As you go through this mock it then asks for aged debtor reports etc and I thinks its best to make sure only the transactions that should be there at each stage are showing.
I hope this helps. VT takes a little bit of getting used to but in a couple of weeks time you won't want to use anything else.
