Setting Up and Managing Transactions in Sage 50 for Northern Tech Ltd.

Introduction:

Northern Tech Ltd. is a Canadian-based retail company specializing in the Electronics and Technology industry. The company operates in Techville, Ontario, offering a variety of high-tech gadgets and devices to its customers.

In this assignment, you will set up Northern Tech Ltd. in Sage 50, including creating the company file, setting up inventory items, customers, and vendors, and recording purchase and sales transactions.

Task 1: Setting up Northern Tech Ltd. in Sage 50

Use the following information to set up Northern Tech Ltd. as a new company in Sage 50.

Company Name: Northern Tech Ltd. Address: 123 Innovation Drive, Techville, Ontario, A1B 2C3 Business Number (BN): 123456789RT0001 Email: info@northerntechltd.ca Phone Number: (123) 456-7890 Fiscal Year Start Month: January Accounting Method: Accrual-Based

Task 2: Setting up Inventory Items

Set up the following inventory items in Sage 50 for Northern Tech Ltd.

         Item Code

  Description

     Sales Price

      PGX100

   Polar Gadget X100 - High-Tech Gadget

      $200

      BGZ200

   Boreal Gizmo Z200 - Advanced Gizmo

      $150

      ADY300

   Aurora Device Y300 - Innovative Device

      $300

      KTP400

   Keystone Tech Product 400 - Elite Gizmo

      $250

      RLD500

    Radiant Lite Device 500 - Advanced Tech Product

       $350

  Task 3: Setting up Customers

Set up the following customers in Sage 50 for Northern Tech Ltd.

        Customer Name

  Address

     Payment Terms

      Superior Merchandise Mart

   123 Retail Drive, Techville, Ontario, A1B 2C4

      Net 30

   Great Lakes Gadgets

    456 Tech Avenue, Techville, Ontario, A1B 2C5

    Net 45

               Prairie Tech Plaza

789 Gadget Boulevard, Techville, Ontario, A1B 2C6

      Net 30

      East Coast Electronics

     159 Innovation Street, Techville, Ontario, A1B 2C7

        Net 60

      Highland Hardware Store

  753 Industrial Road, Techville, Ontario, A1B 2C8

     Net 30

    Task 4: Setting up Vendors

Set up the following vendors in Sage 50 for Northern Tech Ltd.

        Vendor Name

  Address

     Payment Terms

      Rocky Assembler Co.

   123 Assembly Drive, Techville, Ontario, A1B 2C4

      Net 30

      Maritime Maker Inc.

   456 Maritime Avenue, Techville, Ontario, A1B 2C5

      Net 45

      Central Supplier Ltd.

   789 Central Boulevard, Techville, Ontario, A1B 2C6

      Net 30

      Eastern Parts Co.

   159 Parts Street, Techville, Ontario, A1B 2C7

      Net 60

      Northern Goods Inc.

    753 Goods Road, Techville, Ontario, A1B 2C8

       Net 30

  Task 5: Recording Purchase Transactions

Record the following purchase transactions in Sage 50 for Northern Tech Ltd.

1. Purchase of 200 units of Polar Gadget X100 and 100 units of Keystone Tech Product 400 from Rocky Assembler Co. on Net 30 terms.

2. Purchase of 150 units of Boreal Gizmo Z200 and 75 units of Radiant Lite Device 500 from Maritime Maker Inc. on Net 45 terms.

3. Purchase of 250 units of Aurora Device Y300 from Central Supplier Ltd. on Net 30 terms.

Task 6: Recording Sales Transactions

Record the following sales transactions in Sage 50 for Northern Tech Ltd.

1. Sale of 50 units of Polar Gadget X100 and 30 units of Keystone Tech Product 400 to Superior Merchandise Mart on Net 30 terms.

2. Sale of 40 units of Boreal Gizmo Z200 and 20 units of Radiant Lite Device 500 to Great Lakes Gadgets on Net 45 terms.

3. Sale of 60 units of Aurora Device Y300 to Prairie Tech Plaza on Net 30 terms.

Deliverables

Submit screenshots of each step as well as any issues you encountered and how you resolved them.

5:28 Ibraheem Al-kh... SAGE -50 ASSIGNMENT -1 Setting Up and Managing Transactions in Sage 50 for Northern Tech Ltd. Introduction: Northern Tech Ltd. is a Canadian-based retail company specializing in the Electronics and Technology industry. The company operates in Techville, Ontario, offering a variety of high-tech gadgets and devices to its customers. In this assignment, you will set up Northern Tech Ltd. in Sage 50, including creating the company file, setting up inventory items, customers, and vendors, and recording purchase and sales transactions. Task 1: Setting up Northern Tech Ltd. in Sage 50 Use the following information to set up Northern Tech Ltd. as a new company in Sage 50. Company Name: Northern Tech Ltd. Address: 123 Innovation Drive, Techville, Ontario, A1B 2C3 Business Number (BN): 123456789RT0001 Email: info@northerntechltd.ca Phone Number: (123) 456-7890 Fiscal Year Start Month: January Accounting Method: Accrual-Based Task 2: Setting up Inventory Items Set up the following inventory items in Sage 50 for Northern Tech Ltd. Item Code Description Sales Price PGX100 Polar Gadget X100 - High-Tech Gadget $200 BGZ200 Boreal Gizmo Z200 - Advanced Gizmo $150 ADY300 Aurora Device Y300 - Innovative Device $300 KTP400 Keystone Tech Product 400 - Elite Gizmo. $250 RLD500 Radiant Lite Device 500 - Advanced Tech Product $350 Task 3: Setting up Customers Set up the following customers in Sage 50 for Northern Tech Ltd. Customer Name Address Payment Terms Superior Merchandise Mart 123 Retail Drive, Techville, Ontario, A1B 2C4 Net 30 Great Lakes Gadgets 456 Tech Avenue, Techville, Ontario, A1B 2C5 Net 45 Prairie Tech Plaza 789 Gadget Boulevard, Techville, Ontario, A1B 2C6 Net 30 East Coast Electronics Highland Hardware Store Task 4: Setting up Vendors Set up the following vendors in Sage 50 for Northern Tech Ltd. 159 Innovation Street, Techville, Ontario, A1B 2C7 Net 60 753 Industrial Road, Techville, Ontario, A1B 2C8 Net 30 Vendor Name Address Payment Terms Rocky Assembler Co. 123 Assembly Drive, Techville, Ontario, A1B 2C4 Net 30 Maritime Maker Inc. 456 Maritime Avenue, Techville, Ontario, A1B 2C5 Net 45 Central Supplier Ltd. 789 Central Boulevard, Techville, Ontario, A1B 2C6 Net 30 Eastern Parts Co. 159 Parts Street, Techville, Ontario, A1B 2C7 Net 60 Northern Goods Inc. 753 Goods Road, Techville, Ontario, A1B 2C8 Net 30 Task 5: Recording Purchase Transactions Record the following purchase transactions in Sage 50 for Northern Tech Ltd. 1. Purchase of 200 units of Polar Gadget X100 and 100 units of Keystone Tech Product 400 from Rocky Assembler CNCE SOIGHTS