Transactions

You are required to create transactions related to your business. All the transactions are to be explained with the nature of your business.

You must have the following transactions:

-Capital introduced

-Loan taken

-Non current assets purchased by cheque and credit (each 1 transaction)

-Trade goods purchased on credit (minimum of 2 transactions)

-Trade goods purchased by cheque (minimum of 2 transactions)

-Trade goods sold on credit (minimum of 2 transactions)

-Trade goods sold by cheque (minimum of 1 transactions)

-Payment to suppliers ( minimum 1 of transactions) inclusive of discounts received

-Receipts from customers (minimum 1 of transactions) inclusive of discounts allowed

-Payment of expenses (minimum of 3 transactions)

-Receipts of revenue (minimum of 3 transactions)

-Withdrawals - both cash and goods

Recording

-Record the transactions into the account 365 software.

-Generate the necessary reports.

-Explain the advantages of using this accounting 365 software.

Criteria for grading

You have to demonstrate the knowledge acquired during the class and creatively applying it.

Marks will be based on your creativity and how critically you have evaluated the scenario.

If you have referred to any books or websites to provide your opinion, you are required cite them in the bibliography

Should the work be similar with your classmates, the individual assignment will automatically be void.

You have to demonstrate the knowledge acquired during the class and creatively applying it. Marks will be based on the creativity.