Reference no: EM132415791

Xero Accounting Software Assessment - Kaplan Business School

Practice Set

Max Supplies is a new start-up, sole-trader B2B organisation, offering an extensive range of office supplies including tech-products, books and printing services, located in the South Melbourne, Australia. During the business setup procedures in May 2019, they have registered for GST.

All the transactions are in Australian Dollars.

You have been hired as a Junior Accountant to set up and record Max Supplies business transactions for the month of May 2019 and then at the end, generate financial reports to complete a one-month accounting cycle. You should be able to perform many activities in the Max Supplies business that are commonly performed by professional accountants.

Reports Required
• Accounts Transactions Report for the month of May 2019
• Profit and Loss Statement for the month ended 31 May 2019
• Balance Sheet as at 31 May 2019

You are required to first set up the organisation settings, financial settings, bank accounts, contacts, chart of accounts, tax details and other relevant information using the data given in Appendix 2 of the document.

Bank Reconciliation
Complete the provided Bank Statement template for the month of May 2019. In Bank Statement, the credit figure is reflected as (-) or within (brackets). Do not change the basic settings or format originally provided in the .csv file.

Attachment:- Xero Accounting Software Assessment.rar