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Scot & Susan Company EXERCISE 1: You are required to setup a MYOB File for a business that is switching over to a computerised system.
Scot & Susan Company EXERCISE 1: You are required to setup a MYOB File for a business that is switching over to a computerised system. The data you will need is as follows: ACCOUNTRIGHT DETAILS Select AccountRight Plus Select Australia COMPANY INFORMATION NAME: Scot & Susan Co. - Add your name ABN: 80 000 000 001 ADDRESS: "Woolshed" COBAR NSW 2244 PHONE: (02) 6512 3011 EMAIL: YOURNAME@GBC.COM.AU ACCOUNTING INFORMATION FINANCIAL YEAR: 20CY - CURRENT YEAR LAST MONTH FINANCIAL YEAR: JUNE CONVERSION MONTH: JULY ACCOUNTS LIST INDUSTRY CLASSIFICATION: AGRICULTURE Select Create Company File Your MYOB file will be created and saved locally within My Library in MYOB. EXERCISE 2: EASY SETUP ASSISTANT - ACCOUNTS Using the Easy Setup Assistant, you are required to modify the chart of account list Account Rename Account Tax Create an account for: 1-1335 Prepaid Taxes N-T Create an account for: 1-1315 Fuel Tax Credits Claimable N-T Create an account for: 6-1750 Fencing Expenses GST Edit Account Edit Account Edit Account Edit Account Edit Account Edit Account Account Rename Account 4-1000 Sheep Sales 4-2000 Cattle Sales 4-3000 Grain Sales 5-1000 Livestock Selling Costs 6-1800 Hire of Equipment 6-3200 Vet Expenses Tax GST GST GST GST GST GST Delete Account Delete Account Delete Account 4-4000 Government Subsidies 6-2100 Parking Tolls Expense 6-2900 Printing Expense OPENING BALANCES You are required to enter the opening balances: 1-1110 Business Bank Account #1 1-2110 Plan & Equipment at Cost 2-1130 Mastercard $ 2-2100 Business Loan #1 3-1100 Capital $200,000 $120,000 8,000 $140,000 $172,000 pg. 2 EASY SETUP ASSISTANT PAYROLL You will need to setup your Payroll Information through the Easy Setup Assistant. Load the Tax Tables and setup payroll using the following information: Full Work Week Hours: Withholding Payer Number: 00 123 456 789 Default Superannuation Fund: Spectrum Super Round Net Pay Down to a Multiple of: Ocents Check your linked accounts for your payroll transactions: 38 Account for Cash Payments Payroll Cheque Account Accounts for Cheque Payments Business Bank Account Account for Electronic Payments Electronic Clearing Account Account for Employer Expenses Other Payroll Expenses Account for Wages Paid Wages & Salaries Account for Deductions & Expenses PAYG Withholding Payable You are required to build your employee list using the detail below: You are required to build your employee list using the de below: Description Employee Name Harry C West DOB: 12.8.1989 Start Date 1.1.20CY Wages Hourly Pay Fortnightly Frequency: Hourly Rate $20 Superannuatio Superannuation Guarantee n Taxes TFN: 111 555 999 Tax Free Threshold pg. 2 Required: Based on the information above, you are required to prepare the following 2 EXCEL reports and upload them on Moodle: 1. Accounts List Report. 2. Employees List Report Scot & Susan Company EXERCISE 1: You are required to setup a MYOB File for a business that is switching over to a computerised system. The data you will need is as follows: ACCOUNTRIGHT DETAILS Select AccountRight Plus Select Australia COMPANY INFORMATION NAME: Scot & Susan Co. - Add your name ABN: 80 000 000 001 ADDRESS: "Woolshed" COBAR NSW 2244 PHONE: (02) 6512 3011 EMAIL: YOURNAME@GBC.COM.AU ACCOUNTING INFORMATION FINANCIAL YEAR: 20CY - CURRENT YEAR LAST MONTH FINANCIAL YEAR: JUNE CONVERSION MONTH: JULY ACCOUNTS LIST INDUSTRY CLASSIFICATION: AGRICULTURE Select Create Company File Your MYOB file will be created and saved locally within My Library in MYOB. EXERCISE 2: EASY SETUP ASSISTANT - ACCOUNTS Using the Easy Setup Assistant, you are required to modify the chart of account list Account Rename Account Tax Create an account for: 1-1335 Prepaid Taxes N-T Create an account for: 1-1315 Fuel Tax Credits Claimable N-T Create an account for: 6-1750 Fencing Expenses GST Edit Account Edit Account Edit Account Edit Account Edit Account Edit Account Account Rename Account 4-1000 Sheep Sales 4-2000 Cattle Sales 4-3000 Grain Sales 5-1000 Livestock Selling Costs 6-1800 Hire of Equipment 6-3200 Vet Expenses Tax GST GST GST GST GST GST Delete Account Delete Account Delete Account 4-4000 Government Subsidies 6-2100 Parking Tolls Expense 6-2900 Printing Expense OPENING BALANCES You are required to enter the opening balances: 1-1110 Business Bank Account #1 1-2110 Plan & Equipment at Cost 2-1130 Mastercard $ 2-2100 Business Loan #1 3-1100 Capital $200,000 $120,000 8,000 $140,000 $172,000 pg. 2 EASY SETUP ASSISTANT PAYROLL You will need to setup your Payroll Information through the Easy Setup Assistant. Load the Tax Tables and setup payroll using the following information: Full Work Week Hours: Withholding Payer Number: 00 123 456 789 Default Superannuation Fund: Spectrum Super Round Net Pay Down to a Multiple of: Ocents Check your linked accounts for your payroll transactions: 38 Account for Cash Payments Payroll Cheque Account Accounts for Cheque Payments Business Bank Account Account for Electronic Payments Electronic Clearing Account Account for Employer Expenses Other Payroll Expenses Account for Wages Paid Wages & Salaries Account for Deductions & Expenses PAYG Withholding Payable You are required to build your employee list using the detail below: You are required to build your employee list using the de below: Description Employee Name Harry C West DOB: 12.8.1989 Start Date 1.1.20CY Wages Hourly Pay Fortnightly Frequency: Hourly Rate $20 Superannuatio Superannuation Guarantee n Taxes TFN: 111 555 999 Tax Free Threshold pg. 2 Required: Based on the information above, you are required to prepare the following 2 EXCEL reports and upload them on Moodle: 1. Accounts List Report. 2. Employees List Report
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