Reference no: EM132888765

FNSACC416 Set up and operate a computerised accounting system - Rockford College

Assessment Task: Set up system

Task summary
For this assessment task you are required to enter the details of a small business, Andrew's Slabs, intoaccounting software based on the scenario information, using the data provided.

You will then participate in a meeting with your assessor, who will be roleplaying Andrew. He will ask you to demonstrate some of the features of the accounting software that you are using and ask you to change some details of the data that you have entered.

This assessment is to be completed in the simulated work environment in the RTO.

Required
• Access to textbooks/other learning materials
• Computer with Microsoft Office and internet access
• Access to a computerised accounting system
• Andrew's Accounts
• Andrew's Slabs Transactions July
• Financial Policy and Procedures

Instructions

Carefully read the following:

Andrew has been buying and selling timber slabs for some years. He makes a range of items from the slabs he buys and will also sometimes buy old furniture, renovate it, and then resell it. He has also started repairing furniture and sometimes sells bespoke timber slabs to customers.
The business transactions are still recorded in a cash receipts book, and then transferred to an Excel Workbook, butAndrew has decided to move to an electronic accountancy system. It is your job, as the newly appointed Accounts Officer, to record the company's details and transactions into a computerised accounting system framework.

Complete the following activities:

1. Enter company data.
Enter the data provided in Andrew's Accounts into the accounting software provided by your assessor.

Modify the chart of accounts as set out in Andrew's Accounts, entering the opening balances as appropriate.
Delete or combine the accounts that are not listed in Andrew's Accounts.

Enter details of Andrew's Slabs' customers and suppliers from Andrew's Accounts.
The four customers listed in Andrew's Accounts have all agreed to the credit terms as set out in the Financial Policy and Procedures and are therefore extended credit at the terms detailed.

Enter inventory items.

2. Enter the sales and the outgoings in Andrew's Slabs Transactions May and June.

Process all transactions in the integrated system, including:
Credit card
Invoices
Petty cash

3. Extract the following from the system:
• List of Accounts
• General Ledger report
• Motor Vehicle Expenses Report. This report should include the motor vehicle expenses header account and its subsidiary accounts.
Check their figures against the data you have entered to ensure that it is accurate. If there any errors, correct these.
Ensure that the Motor vehicle expensesaccounts reconciles with its subsidiary accounts.

4. Make a backup of the data you have entered for Andrew's Slabs, and place this in the same folder.
Save these as Excel documents as well as electronic files, filing them in a folder on your desktop.

5. Write an email to Andrew (your assessor).
The email should be written in polite and technically correct English, asking your assessor, in the role of Andrew, to check through the attached documents, making a comment on your reconciliation of the subsidiary accounts with the general ledger.

Attach the following to the email:
• List of Accounts
• General Ledger report
• Report that includes the Motor vehicle expenses header and subsidiary accounts

6. Meet with your assessor.
Your assessor will answer the email with the date and time of a meetingto discuss the data that you have entered into the computerised accounting system.
The meeting will be held at your workstation.

During the meeting, you will be expected to display effective communication skills, including:
• Speaking clearly and concisely
• Using non-verbal communication to assist with understanding
• Asking questions to identify required information
• Responding to questions as required
• Using active listening techniques to confirm understanding

At the meeting, you will be asked to:
a. Change some of the details of Andrew's Accounts:
b. Update customers' details.
c. Update suppliers' details
d. Update inventory details
e. Show how to use the help menu, as well as online help to access assistance to set up direct debit and BPAY.
f. Show your electronic filing system stores your files in
g. Show your assessor how you create and store a backup of Andrew's Slabs' accounts.
h. Show how you can restore data from your backups.
i. Show how this data can be made secure for audit purposes

7. Update reports.
When your meeting has been concluded, enter the additional data given to you by your assessor into the system and generate the following reports:
• List of Accounts. Save this version as New List of Accounts.
• General Ledger. Save this version as New General Ledger.

To demonstrate that you have entered tax details correctly, generate:
• GST Report

To show Andrew's Slabs' financial performance and position, generate the following:
• Balance Sheet
• Profit and Loss statement

8. Take a screen shot of your folder and files.
You are required to demonstrate that you can file all of your records in a logical structure.
Ensure that you have an overall folder for your work, as well as sub folders if necessary.
All of the documents you have saved so far for this assessment task should be correctly named and filed.

The screen shot should show all the folders and documents.

9. Write an email to Andrew (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
The text of the email should point out the differences between these files and those you sent to your assessor in activity 6.

Attach the following to the email:
• New List of Accounts
• New General Ledger
• GST Report
• Balance Sheet
• Profit and Loss Statement

Attachment:- Computerised accounting system.rar