Assessment Task -
Business Data - The business is a book retailer named Yabby Books Pty Ltd. The firm's sales ate both over-the-counter for cash and on credit to known customers.
Transaction Source Data - Transaction data is obtained as follows:
- Cash register data - for cash sales
- Invoices - for credit sales
- Cheque book - for cash payments
- Deposit books - for cash receipts
- Bank statements - for direct charges and direct deposits
- Supplier invoices - for goods and services bought
- Working papers - for adjusting and miscellaneous entries
Required:
1. Create a new company data file using MYOB.
Note: The A.C.N. should be added to 'Company Information' via Setup from the menu bar.
2. Modify the chart of accounts as required to ensure that the transactions affecting the company are recorded and classified correctly. Delete any unused accounts.
3. Change 'Preferences' as instructed.
4. Enter the opening balances for the Accounting List and set up the subsidiary ledgers for customers, suppliers and inventory.
Note: Record historical sites, historical purchases and the opening stock take.
5. Process transactions for July, and reconcile the Cheque Account.
6. Prepare the following reports:
Accounts
- Accounts List - [Detail]
- Trial Balance
- Profit & Loss Statement
- Balance Sheet
Sales
- Aged Receivables - [Summary]
- Sales [Item Summary]
Purchases
- Aged Payables - [Summary]
- Purchases (Item Summary]
Banking
- Cash Distribution Journal
- Cash Receipts Journal
- Reconciliation Report, 1-1110 only
GST / Sales Tax
Inventory
- Item List [Summary]
- Inventory Value Reconciliation
Attachment:- Assignment File.rar