MYOB Basic PreTest MYOB Accounting v1

  

MYOB Basic PreTest

MYOB Account ing v1

  

The Case Study

  Based t he f act given, you are requi red t o :

  1. Set up t he company dat a f il e :

  [ 4 marks] Mr. Bust omi is t he owner of t he company “ DINAMIKA, PT” .

  As Sporting Goods Dealer, Mr. Bust omi buys and sel l s sport ing goods t o end users. Mr. Bust omi decided t o use MYOB Premier v12 account ing sof t war e f or prepari ng his company 1

  

January to 31 December 2011 Financial Year Report s and pref er t o use t he 13th accounting

period for the audit trial adj ustment.

  Pl ease use one of t he account l ist provided by MYOB $FFRXQWLQJ Y . So you don’ t need t o set up t he account l ist compl et el y.

  Set up t he f ol l owing inf ormat ion: The Company address : Jakart a Tel : 021-5707070 Fax : 021-5707080 Email : inf o@dinami ka. com The f ol l owi ng pref er ences opt i on must be act ivat ed :

   : Tick t he opt ion f or “ Warn if Jobs Are Not Assigned Syst em Pr ef er ences

  to All Transaction [System-Wide]”

   : Unt ick opt ion f or “ Automatically Check Spelling in Wi ndows Pref erences

  Text Fields Before Recording Transaction”

   : Tick t he opt ion f or : “ Warn for Duplicate Invoices Sal es Pref er ences

  Numbers on Recorded Sales”

   : Tick t he opt ion f or : “ Warn for Purchase Orders Purchases Pref er ences

  Numbers on Recorded Purchases”

   : Cl ick User IDs t o add new User ID as your Name.

  Securit y Pref erences

  2. Set up t he Li st bel ow :

  [ 8 marks]

  Set up t he f ol l owing account l ist The Company don’ t use t he f ol l owi ng account codes anymor e : -

   1-2120 Payrol l Cheque Account  1-2130 Cash Drawer  1-2210 Less Prov’ n f or Doubt f ul Debt s

  The Company changes some account l ist as f ol l ows : -

   1-2140 Pet t y Cash, Change t o 1-2120  1-2160 Undeposi t ed Funds, Change t o 1-2130 Undeposit ed Cash

  The Company need t o add t he f ol l owi ng account s : -

  

Account # Account Type Header/ Detail Level

2-2340 GST Cl eari ng Ot her Li abil i t y Det ail

  4 PT. NET21PLUS Menara KADIN Indonesi a, Lt . 30, Jl . H. R. Rasuna Said, X-5, Kav. 2-3, Jakart a 12950. Indonesi a.

  Tel . : 021-5570 0905 | Fax. : 021-5570 0907

N-T N-T N-T N-T

   SANDIAGO (Customer)  BIG JAYA (Supplier)  TAKOMA (Customer)  PURNAMA (Supplier)  SADINO (Customer) 

  

MYOB Basic PreTest

MYOB Account ing v1

   ICON $2, 000 inc. GST, [ PO#: P-100003, Inv#: IC-100001] [ Cat egory : MLG]

   SANDIAGO $1, 500 inc. GST, [ Inv#: S-100001,PO#: SDG-100001] [ Cat egory : JKT]  TAKOMA $2, 000 inc. GST, [ Inv#: S-100002,PO#: TKM-100001] [ Cat egory : MLG]  SADINO $2, 000 inc. GST, [ Inv#: S-100003,PO#: SDN-100001] [ Cat egory : JKT]  BIG JAYA $2, 300 inc. GST, [ PO#: P-100001, Inv#: BJ-100001] [ Cat egory : MLG]  PURNAMA $2, 300 inc. GST, [ PO#: P-100002, Inv#: PM-100001] [ Cat egory : JKT]

  Set up t he f ol l owing ending bal ance as 31 Dec 2010 :

  Total : $72, 000 $72, 000

  [ 8 marks]

Account # Account YTD Debit YTD Credit

1-1310 Bl dgs & Imprv at Cost $30, 000

1-1320 Bl dgs & Imprv Accum Dep $150

1-2110 Cheque Account $20, 000 1-2120 Pet t y Cash $2, 000 1-2200 Trade Debt ors $5, 500 1-2300 Merchandise Invent or y $14, 000

2-2200 Trade Cr edit or $6600

2-2310 GST Col l ect ed $600

2-2330 GST Paid $500

3-1100 Owner / Shar ehl dr Capi t al $54, 650

3-8000 Ret ai ned Ear nings $10, 000

  3. Set up Bal ance Sheet i nf ormat ion as 01 January 2011

  Set up t he empl oyees l ist : Merry, Rahmat and Mariana

  ICON (Supplier)

  

PT. NET21PLUS

Menara KADIN Indonesi a, Lt . 30, Jl . H. R. Rasuna Said, X-5, Kav. 2-3, Jakart a 12950. Indonesi a.

  Tel . : 021-5570 0905 | Fax. : 021-5570 0907 Set up t he t ax code as GST (Goods and Services Tax), Tax Type : Goods & Services Tax, Rate :

  Invent or y

  Invent or y Mer chandise Invent or y Mer chandise

  I Invent ory This Item Merchandise Invent or y Merchandi se

  I Sell This Item Sal es Sal es Sal es Sal es

  

I Buy This Item Pur chases Pur chases Pur chases Pur chases

  Selling Unit of Measure Unit Unit Unit Unit

  Item No. HG OT MB CT

Description Home Gym Or bit r ek Magnet i c Bi ke Cross Tr ai ner

Selling Price $900 $1000 $1, 100 $1, 250 Tax Code When Bought/ Sold

  Set up t he Cat egori es Li st as JKT f or Jakarta, MLG f or Malang. Set up t he it ems l i st as f ol l ows :

  10% Set up t he Job List as R f or Retail, S f or Services.

  Set up t he f ol l owing cust omer and suppl ier l ist :

  

PT. NET21PLUS

Menara KADIN Indonesi a, Lt . 30, Jl . H. R. Rasuna Said, X-5, Kav. 2-3, Jakart a 12950. Indonesi a.

  Immediat el y applied the Debit note to Trade Creditor balance f or BIG JAYA [ID#:P-110003] f or bill on 2 Jan 2011.

  POINT [ 2 marks] [ 2 marks]

  Immediat el y Pay Refund [Cheque No: D-110002] f or t he $100 Sal es Rebat e t o TAKOMA f rom t he Petty Cash.

  110001] as Discount Taken rebat e and edit Journal Memo wit h “ Sale Discount: TAKOMA” . [Salesperson: Rahmat], [Category: MLG].

  Issued $100 Rebat e Credit Not es t o TAKOMA [Inv#: S-110003, Cust PO#:TKM-

  18 Jan 2011

  [Salesperson : Rahmat], [Category : MLG] POINT [ 4 marks]

  Cust PO#:TKM-110001). Al l t he goods and invoice was del iver ed :  Ship 2 uni t s of Home Gym (HG) f or $900 (Exclude 10% GST) each [Job : R]  Ship 1 uni t of Orbitrek (OT) f or $1, 000 (Exclude 10% GST) each [Job : R]

  Sol d t he f ol l owing i t ems t o TAKOMA on Net 20 days terms (Inv#:S-110002,

  16 Jan 2011

  POINT [ 4 marks]

  Cust PO#: SDG-110001 ). All t he goods and invoi ce was del ivered:  Ship 1 uni t of Home Gym (HG) f or $990 (Include 10% GST) each [Job: R]  Ship 1 uni t of Magnetik Bike (MB) f or $1, 210 (Include 10% GST) each [Job: R]  Ship 3 uni t s of Cross Trainer (CT) f or $1, 375 (Include 10% GST) each [Job: R] [Salesperson: Merry], [Category: JKT].

  Sol d t he f ol l owing it ems t o SANDIAGO on Net 15 days terms (Inv#: S-110001,

  15 Jan 2011

  POINT [ 2 marks] [ 2 marks]

  110003, Supplier Inv#: BJ-110001) (Job : R) . Edit Journal Memo wit h “ Purchase Return; BIG JAYA” . [Category : MLG]

  Tel . : 021-5570 0905 | Fax. : 021-5570 0907 Set up t he f ol l owing invent ory opening bal ance as 01 January 2011 :

  [Category : MLG] POINT

   Home Gym = 4 uni t f or $800/ unit  Orbitrek = 5 uni t f or $900/ unit  Magnetic Bike = 4 uni t f or $1, 000/ unit

 Cross Trainer = 2 uni t f or $1, 150/ unit [Journal# : I-110001 ] [Category : JKT]

  4. The f ol l owi ng t ransact ions are made in January 2011. Record t hese t ransact i ons in MYOB according t o t he dat es and det ail s given bel ow.

  02 Jan 2011

  A purchase was raised t o purchase t he f ol l owing invent ory it em f rom main suppl ier, BIG JAYA on net 30 days credit terms. (PO#: P-110001, Supplier

  Inv#:BJ-110001)  Recei ved 2 unit Home Gym (HG) f or $800. -/ unit (Job : R) (Exclude 10% GST) each.

   Recei ved 4 unit Cross Trainer (CT) f or $1, 150. -/ unit (Job : R) (Exclude 10% GST) each.

  [ 4 marks]

  Ret urn 1 of Home Gym (HG) f or $800 (Exclude 10% GST) t o BIG JAYA, (PO#:P-

  03 Jan 2011

  Rai sed purchase t o ICON f or advertising $550 (Include 10% GST) on COD

  Terms. (PO#: P-110002, Supplier Inv#: IC-110001). Bil l was recei ved. [Job : S] [Category : MLG]

  Ful l Payment t o ICON f rom Cheque Account [Cheque No : D-110001] f or t ot al amount $550 f or bil l on 3 Jan 2011.

  POINT [ 4 marks] [ 4 marks]

  04 Jan 2011

  

MYOB Basic PreTest

MYOB Account ing v1

  MYOB Basic PreTest

MYOB Account ing v1

  POINT

  19 Part l y payment of $1000. - f or invoice on 16 Jan 2011 was recei ved f rom

  [ 4 marks]

  Jan TAKOMA and deposi t s t o Cheque Account [ID#: R-110001]. 2011

  POINT

  20 Use Spend Money [Cheque No: D-110003] t o record expenses f r om Cheque

  [ 4 marks] Jan Account $1, 000 f or Store Supplies [Category : JKT].

  2011

  [ 4 marks]

  Use Receive Money [ID#: R-110002] t o record : Deposit $500 t o Cheque

  Account f or $550 Bank Interest Income And $50 Bank Charges [Category JKT].

  [ 4 marks]

  5. Perf orm Bank Reconciliation f or t he mont h of Jan 2011 f or Cheque Account t he Bank st at ement shows a bal ance of $19, 950 on 31 Jan 2011.

  [ 4 marks]

  6. In addit ion t o t he t ransact ion above, prepar e a j ournal ent ry t o record t he

  depreciation on 31 Jan 2011, f or t he f ol l owing asset cat egori es [GJ#:G- 110001] [Category : JKT] :  Office Equipment $150

  Save as Monthly Recurring Transaction start from 28 Feb 2011 f or t hose

  j ournal t hen use t he recurri ng and record depreciat i on j ournal for 28 Feb 2011

  [GJ#:G-110003] [Category : JKT] [ 4 marks]

  Prepare a j ournal ent ry t o record t he GST Clearing j ournal on 31 Jan 2011

  [GJ#:G-110002] f or Dec 2010. [Category : JKT] [ 4 marks]

  7. On 31 Jan 2011, prepare adj ust i nvent ory t o record Inventory Unit Cost

  Adj ustment as COGS Account 5-1000 Purchases [ IJ#: I-110002] of Cross Trainer (CT) f or amount $150. [Job : R] [Category : JKT] [ 4 marks]

  8. Generat e t he f ol l owing financial reports at 1 January – 31 January 2011

  reports to PDF file format :  St andard Bal ance Sheet  Prof it & Loss (Accrual )  General Journal  Bank Reconci l iat ion report  Al l Sal es r eport  Al l Purchases r eport  It em Regi st er (det ail )  Cash Receipt s Journal  Cash Disbursement Journal

  [ 4 marks]

  9. From Security Preference, act i vat e t he opt ion f or “ Use Audit Trail Tracking” , t hen Lock the Accounting period f or 31 Jan 2011. BACKUP your MYOB

  company dat a file (ONLY), Check Company File for Error and Save t he MYOB company dat a backup f il e name as Your name in Backup Folder.

  [ 4 marks]

  10. From Company Data Auditor – Transaction Review f or 1 Jan 2011 to 31 Jan

  2011, t here i s a “ ?” mark f or Scan for Future Dated Transaction. Displ ay it &

  Sent to PDF the reports. And t hen delete t hat Future Dated Transaction j ournal.

  

PT. NET21PLUS

Menara KADIN Indonesi a, Lt . 30, Jl . H. R. Rasuna Said, X-5, Kav. 2-3, Jakart a 12950. Indonesi a.

  Tel . : 021-5570 0905 | Fax. : 021-5570 0907

  

MYOB Basic PreTest

MYOB Account ing v1

  [ 4 marks]

  11. Del et e al l t ransact ion on 04 Jan 2011

  [ 4 mark s]

  12. Edit the Recurring Transaction Template of Fi xed Asset s Depreci at i on f or Of f ice Equipment t o $160 per mont h.

  [ 4 marks]

  13. Modi f y t o Mi crosof t Excel t he St andard Balance Sheet reports as of Jan 2011 in

  T Format (l ike t he sampl e bel ow)

Dinamika, PT.

  

Balance Sheet

As of January 2011

ASSETS LIABILITIES & EQUITY Assets Liabilities Fixed Assets Current Liabilities

  Mot or Vehicl e Trade Credit ors $253, 220. 00 Mot or Vehicl e at Cost $30,000.00

  VAT Liabil it ies Mot or Vehicl e Acc Dep ($3, 325. 00)

  VAT Collect ed $2, 605. 45 Tot al Mot or Vehicl e $26,675.00

  VAT Paid ($14,520. 00) Tot al Fi xed Asset s $26,675.00 Tot al VAT Liabil it i es ($11,914. 55) Current Asset Total Current Liabilities $241, 305. 45 Bank & Cash i n Hand Total Liabilities $241, 305. 45 General Cheque Account

  $135, 244. 00 HSBC Phil ippines $100, 200. 00 Pet t y Cash Equit y

  $2, 000. 00 Undeposit ed Funds Pai d Up Capit al $150, 000. 00 $450. 00 Tot al Bank & Cash in Hand Ret ained Earnings $4, 984, 428.62

  $237, 894. 00 Trade Debt ors Current Earnings ($120. 47) $103, 560. 00 Invent ory Total Equity $5, 134, 308.15

  Invent ory-Equi pm ent $5, 007, 484.60 Tot al Invent ory $5, 007, 484.60 Total Current Asset

  $5, 348, 938.60 Total ASSETS $5, 375, 613.60 Total LIABILITIES & $5, 375, 613.60 EQUITY

  

~End of Assignment ~

PT. NET21PLUS

Menara KADIN Indonesi a, Lt . 30, Jl . H. R. Rasuna Said, X-5, Kav. 2-3, Jakart a 12950. Indonesi a.

  Tel . : 021-5570 0905 | Fax. : 021-5570 0907