Construction Company Luxury Build Ltd. Case Study - Accounting and Finance Assignment Help

Assignment Task:

TASK:

Introduction: You are hired as an Accountant by a construction company Luxury Build Ltd. Your manager has requested to transfer the financials from Sage 50 to Sage 300. Company Background: Luxury Build Ltd. builds personal and commercial units since year 2003. Company has two department Personal and Commercial. Luxury Build has been recording the entries using Sage 50 before, they closed the books in December 2020 and looking to transition the books to Sage 300.

Objective:

• Setup the admin service and monthly scheduler

• Activate the General Ledger Module

• Set up the G/L Options

• Setup segment codes, account structure and source code

• Create Accounts based on the given Trial Balance

• Enter the opening balances as of Dec 31, 2020 based on the Trial Balance provided.

• Create a New fiscal year (2021)

Assignment 1: You will start the below exercise by using one of the options discussed above

Option 1: Use Humber Online streaming webpage https://its.humber.ca/services/services-students/academic-application-streaming-service

• Click on Faculty of Business – Standard.

• Enter the Humber login information

• Click on Sage 300

• Then Sage 300 will open, and you will continue by selecting CHADAT

• Create a folder Assignment 1 under temp folder (If you have linked your Google drive, create a folder Assignment 1 in Google drive)

Option 2: Use Sage 300 2019 software

• Create a New database LUXDAT and LUXSYS in SQL Server and Sage 300 Database, refer to Ex 1.1 and 1.2 to create the database.

• Create a folder on C drive Assignment 1 1. Select the company file LUXDAT (Using the Sage 300 on your computer) or CHADAT (Using the Humber Online streaming), and session date Jan 01, 2021 2. Activate the Administration services

3. Select the fiscal year starting date 01/01/2021 and click procced.

4. Select the Business name as: Luxury Build Ltd – Your first name, enter Humber College address and Currency as CAD

. 5. Setup a monthly reminder for all Users, which will be recurring on monthly basis on last day of the month starting Jan 31, 2020. And it sends the reminder 3 days prior to due date.

6. Activate the GL Module

7. Modify the G/L Option to include the following a. Do not allow the ability to post to previous year at this time b. Do not use provisional posting option

c. Do not print the batch listing prior to posting each batch d. Allow complete editing of import batches e. Keep up to 7 years of information f. G/L Module should consist of 2 segment codes i. Segment 1 – Accounts with 4 digits ii. Segment 2 – Departments with 3 digits

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