Accounting Others

Boab Art Gallery A Computerised Accounting Practice Set Using MYOB AccountRight PLUS Version 19

Edited by Wendy Pabst · Brian Perrin
John Wiley & Sons June 2011

Specifications

ISBN-13
9780730302407
Publisher
John Wiley & Sons
Publication
June 2011
Format
Paperback , 81 pages
Jurisdiction
International or US ? Countri(es) for reference only

Details

Boab Art Gallery is a computerised practice set using MYOB AccountRight Plus V19. This practice set is designed to give students experience in recording a variety of business transactions common to small businesses so that they will gain an understanding of a computerised accounting system, how it operates, how to set up a data file and enter opening balances, how to record transactions, and how to produce useful reports. This ‘hands-on' methodology reinforces the students' understanding of accounting fundamentals typically encountered in practice, and is therefore, suitable for students undertaking a course in accounting or computer-based accounting information systems.

Completion of the practice set for a one-month period, should ensure a greater appreciation of the following:

  • the steps in a typical accounting cycle for a small business
  • the use of subsidiary ledgers
  • the perpetual inventory system
  • balance day adjustments
  • the bank account reconciliation
  • how the accounting cycle culminates in the preparation of financial statements
  • how GST is recorded and the effect it has on transactions.

Features:

  • Students will set up a data file for a company and process transactions for one month
  • An overview of the MYOB Command Centres is provided
  • Includes installation guidelines for MYOB AccountRight Plus
  • The transactions for period 1 are demonstrated in Chapter 4 with step-by-step instructions and screen shots of relevant windows, so that students can compare their screens against the screen shots before recording the entry or moving to the next step
  • A CD containing MYOB AccountRight Plus V19 is included with the practice set.

Table of Contents

CHAPTER 1 Introduction
Completing the practice set
Installing MYOB AccountRight Plus

CHAPTER 2 Guided tour of MYOB
Running MYOB AccountRight Plus and loading the data file
MYOB AccountRight Plus graphical interface
Overview of MYOB command centres

CHAPTER 3 Setting up the data file
Business background: Boab Art Gallery
Create a new data file
Set up the business details using the New Company File Assistant
Set-up the accounts list 
Double-entry accounting and linked accounts 
Entering general ledger opening balances 
Check the Accounts List 
Set up customer cards and enter opening balances 
Set up supplier cards and enter opening balances 
Set up inventory items 
Record inventory opening balances 
Initial bank reconciliation

CHAPTER 4 Entering transactions for period 1
Reversing journal entries 
Receive money
Purchase order (new supplier) 
Credit sales 
Receipt from a customer
Pay a supplier (including prompt payment discount) 
Transfer money 
Receipt from a customer
Convert a purchase order to a bill
Cash sales
Purchase item
Payment of wages and drawings
Cash purchase

CHAPTER 5 Reports
Using the command centre to produce reports
Using the main menu bar to produce reports
Profit and loss
Balance sheet
Trial balance

CHAPTER 6 Completing the practice set
Period 2 transactions (8 August to 14 August)
Period 3 transactions (15 August to 21 August)
Period 4 transactions (22 August to 31 August)

APPENDIX 1 Transactions - August 2011
APPENDIX 2 An introduction to the GST and PAYG
APPENDIX 3 Chart of accounts
APPENDIX 4 MYOB Help

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