MYOB Case Study - Banking - Accounting Assignment Help

Assignment Task

Introduction
In this assignment students are required to use the following modules of the MYOB computer accounting program to process transactions and to produce a set of accounting reports relating to business operations:
• General Ledger
• Banking
• Sales - Accounts Receivable
• Purchases - Accounts Payable
• Inventory

Company Data
The business is a Gift Shop named, “Student Name Gifts Pty Ltd” (students are to insert their own name) and the ABN number must include your “Student Number as a
unique identifier” with zeros making up the required numbers. The firm’s sales are both over-the-counter cash sales and credit sales on account.

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.
Note: You must be specific in the naming of accounts.

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. Export (in PDF form) and submit the following reports (along with the Assignment Cover Sheet).
Note: Make sure that the Company name (which includes your full name) and ABN (which includes your Student ID) is present on each report:
• General Ledger (Accounts)
o Balance Sheet
o Profit & Loss Statement
• Sales (Accounts Receivable)

Receivables Reconciliation (Summary)

• Purchases (Accounts Payable)
o Payables Reconciliation (Summary)

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