Task
You are working as an accountant in a regional accounting firm and have been approached by the owner of a start-up wholesale business. They have chosen Saasu as their accounting system and have asked you to set up their business in Saasu and enter the first month's transactions. You will use Saasu to enter a range of transactions and print some reports to assist with the business start-up. All information has been supplied by the business owner for you to input.
The set up and transactional data will be provided in Resources.
Required:
Print and submit the following reports for July 2016 (either print to screen or print and scan as an electronic file). Marks will be awarded for the correctness of information as well as the standard of presentation of your assessment.
1) Profit & Loss - Summary
2) Balance Sheet
3) Transaction by Account
4) Accounts Payable
5) Accounts Receivable
6) Inventory Item History
Using the information compiled above, prepare a short 600-750 word business report that covers the following:
• Advice to the business owner on how their business has performed for the month with particular focus on the profitability of the business. Include relevant ratios in your analysis.
• Based on your analysis, provide the owner with 5 recommendations to improve profitability.
• What additional reports could be run at the end of month to assist business decision making? Provide details of how the identified reports could assist the business.
Rationale
This assessment task is designed to enable you to demonstrate your ability to:
• understand and apply foundation principles relating to computerised information systems in contemporary organisations;