Set up the business in myob

Question

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:- MYOB Assignment.rar