Task - Computerised Accounting Information System Phase
LOCATION: both online electronic submission through the Blackboard (prior to attending your ENROLLED/TIMETABLED tutorial in week 9) and hard copy submission via your ENROLLED/TIMETABLED tutorial week beginning 04 May 2015 (week 9).
Task
Using feedback from Task (Phase) 1, the MYOB Instructions Manual on the Blackboard and MYOB lecture you are required to:
1. Access the most current version of MYOB (this can be achieved by connecting to ‘mydesktop' at Building 80).
2. Download the MYOB data file from the Blackboard that we have created for you.
3. Follow the set up procedures in the MYOB Instructions Manual.
4. Using the basic Chart of Accounts in the data file, update it with the Chart of Accounts you created manually in Phase 1B. You should make some changes to your original Chart of Accounts as a result of feedback/suggestions made by your tutor in Task (Phase) 1 and limitations/restrictions of MYOB. You need to spend some time studying the MYOB Chart of Accounts in the data file, and adapt the numbering system of your manual Chart of Accounts in your Task (Phase) 1 to the MYOB Chart of Account numbering system. Use the MYOB Chart of Accounts numbering system and add any required new accounts to this numbering system.
5. Record each transaction in MYOB using the appropriate MYOB module. Ensure that all transactions recorded are included on your printed session report/reports. Your transaction month is July 2014.
6. Number each transaction on the session reports with the relevant transaction number from the Pro Forma Phase 1C (refer to the two example pages provided within Chapter 6 of MYOB Instructions Manual). Any incorrect transactions and subsequent reversals of incorrect transactions on session reports should have a neat single line drawn across them to signify the transaction has been reversed and then re-entered. For reversed entries both the being reversed and new entries should be properly referenced with the transaction number.
7. Print out your MYOB Chart of Accounts (select ‘Account List Detail' option) (including zero balances, inactive accounts, subtotals, company name and company address, and reporting date and time) as at the last day of the month.(i.e. 31 July, 2014).
8. Print out the following reports (including company name, address, reporting date and time, but excluding all zero balances):
• Trial Balance at the end of the month
• Profit & Loss (accrual) for the month
• Standard Balance Sheet at the end of the month
9. Back-up/save your business' MYOB file onto a CD and label the CD. As your tutor may check and keep your CD as evidence of your own work, we suggest you DO NOT SUBMIT A MEMORY STICK if you want to keep it. If you however do not expect your memory stick being returned (given the current low cost of purchasing a memory stick compared to years ago), you can submit a memory stick which only contains one file - your Phase 2 MYOB data file.
10. Organise the following as hard copy submission (at this stage DO NOT submit your hard copy as you will need them for your soft copy submission):
(a) RMIT assignment cover sheet correctly completed and signed by each member of the group.
(b) The original copy of your Phase 1 including feedback from your tutor. Do not submit photocopy of your Phase 1. You do not need to amend the manual Chart of Accounts from Phase 1 and provide a new manual Chart of Accounts. You only need to ensure that the MYOB Chart of Accounts incorporates your original Chart of Accounts from Phase 1 and your tutor's comments.
(c) A memo, if applicable. Any changes you wish to make to your business for Phase 2, other than those made as a result of the feedback/corrections you received for Phase 1, must be communicated to your tutor in the form of a memo stating the change and the reason for the change.
(d) All session reports with transaction numbers manually recorded on the reports. These need to be cross referenced to the list of transactions in your Phase 1C.
(e) MYOB reports required in steps 7, 8 above.
(f) Your MYOB file required in step 9 above. The CD should only contain your data file.
11. Scan the above items (a), (b), (c), (d) and (e), in that order, as ONE document. Please rename your file name by following the naming protocol: Tutorial Number (if known), Tutor's name, RMIT Student Number (any one from your group), Assignment Two. For example: T1, Zack, s1234567, Assignment 2. Submit it through RMIT Blackboard.
12. Prepare a big envelope which can secure all your documents and your MYOB date file CD (or memory stick). Tightly stick your signed coversheet on the surface of your envelop. Put your hard copy (indicated by instruction 10 but except the coversheet) into the envelope. Secure the envelope. Submit the envelope in your ENROLLED tutorial as instructed above.