Submit the Profit and Loss Statement report

Assignment Help Accounting Basics

Reference no: EM131977300

MYOB Case Study Assignment -

Each student will be required to individually complete a case study using the accounting software MYOB. MYOB is the market leader in accounting software for small business in Australia.

The assignment is to complete Case Study 1 form the textbook. MYOB AccountRight Plus 19.12 - A Practical Guide to Computerised Accounting by Greg Pazmandy, January 2018 Edition. ISBN: 978-1-76073-026-0.

We recommend that you use the textbook to complete the assignment, as the book is aligned with the case study that is required to be completed.

Students must submit the following reports (please note, the textbook asks for more reports, the extra reports listed in the textbook are NOT required)

1. Balance Sheet,

2. Profit and Loss Statement,

3. Cash Receipts journal,

4. Cash Payments journal,

5. Receivables Summary,

6. Payables Summary.

Case Study -

Introduction - In this assignment students are required to use the:

General Ledger
Banking
Sales - Accounts Receivable
Purchases - Accounts payable
Inventory

modules of the MYOB computer accounting program to process transactions and to produce a set of accounting reports relating to business operations.

Required -

1. Set up the business in MYOB - Remember to incorporate YOUR NAME as part of the company name.

2. Modify the chart of accounts as required to ensure that the transactions affecting the company are recorded and classified correctly.

3. Enter the Opening Balances to the General Ledger and set up the subsidiary ledger for Customers, Suppliers and Inventory.

4. Process transactions for July, including the completion of the Bank Reconciliation.

5. Print reports for the month of July, to be submitted, are as follows:

Accounts (General Ledger)

Accounts List - Summary
Trial Balance
Transaction Journals = General Journal
Profit & Loss Accrual
Standard Balance Sheet

Sales (Accounts Receivable)

Receivables - Reconciliation Summary
Item - Sales Summary

Purchases (Accounts Payable)

Payables - Reconciliation Summary
Item -Purchase Summary

Banking

Transaction Journals
Cash Disbursements Journal
Cash Receipts Journal
Cheques and Deposits
Reconciliation Report

GST/Sales Tax Reports

GST Reports GST [Detail - Accrual]

Inventory Items

Items List Summary
Inventory Value Reconciliation.

Attachment:- Assignment Files.rar

Reference no: EM131977300

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len1977300

5/9/2018 7:44:06 AM

PLEASE note this is an INDIVIDUAL ASSIGNMENT AND STUDENTS SHOULD REFER TO PLAGIARISM GUIDELINES explained in this Subject Guide. Your company name must appear o every page of the assignment. Please retain a soft copy of the assignment as proof of completion until the end of semester.

5/9/2018 7:44:01 AM

Resources (i.e.guides and FAQs) to assist nu with the assignment are available on UTS online. All questions regarding the assignment are to be posted to the UTS Online discussion board. Ensure that you post questions to the discussion board that have not already been answered discussion board post or in the FAQ (see MYOB assignment helpful tips & tricks). Once completed, please print out the six documents below and hand them to your tutor in class, along with the completed coversheet (available on UTSOnline) at the commencement of your enrolled tutorial on Tuesday 22nd, you must include your NAME and STUDENT NUMBER in the COMPANY DETAILS section as entered in the MYOB software file.

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