AIN2601 Assignment two (ASSURED A)

AIN2601 Assignment two (ASSURED A) AIN2601 Assignment two instructions TASK 1 Using the set-up assistance 1. Click FILE on the MAIN MENU & select NEW to create a new company 2. Ensure the set-up assistant is selec ...

AIN2601 Assignment two (ASSURED A) AIN2601 Assignment two instructions TASK 1 Using the set-up assistance 1. Click FILE on the MAIN MENU & select NEW to create a new company 2. Ensure the set-up assistant is selected on the THREE METHODs used to create a company 3. Under New Company Name type in the FOLDER which you wish to store your company details on your PC. It can be any name; this does not come out on printed documents. IT canbe BILLY (maximum 8 characters, auto CAPS LOCK) 4. Click on CREATE after finishing typing the FORDER name 5. The first screen of the set-up assistance will appear, there are 12 more screens to completethis task 6. Click NEXT to move to the next screenTYPE COMPANY Information as Follows Company Name Billy’s Building Supplies Postal Address PO Box 123 Pretoria 0081 Information Telephone No. (012) 453-4334 VAT No. 458123682 (on the last line) Click NEXT to go to the DATE FORMAT screen. Ensue DMY is select In addition click four digits per year. Click NEXT and ENTER the start date which is 01/10/2014 also ensure on the last day of themonth is selected Click NEXT ensure the number of periods is 12. DO NOT CHANGE ANYTHING ELSE Click NEXT Change the GENERIC CHART OF ACCOUNTS to RETAIL by selecting it from the arrow in front of generic chart of accounts1 | P a g eClick NEXT to go to CASH BOOKs, type in the number of Cash Books we required to use, 2 in thisinstance ENTER the descriptions of the Cash Books on Account Name as follows: 1. Standard Bank Current Account 2. Petty Cash Account Click NEXT and TYPE the description of the PRICE LIST being used by Billy’s as follows: 1. On Price list1 type – Individuals(must be selected as most common) 2. On Price list2 – Development Click NEXT on Default terms select PERIOD AFTER selecting period select 30 Days Click Next and Select OPEN ITEM Click NEXT to go to Document printing on this screen click on PAPER STYLE ASSISTANCE and ensure PLAIN is selected Click NEXT and ensure SINGLE SHEET is also selected Click NEXT and FINISH Click NEXT again on this screen. Click PROCESS and Pastel will start saving your information.THEN Click FINISH to exit the set up assistance TASK 2 Chat of Accounts 2.2 : Click EDIT – GENERAL LEDGER – ACCOUNTS - on the Pastel MAIN MENU When you open this dialog box the 1000 – Sales account is already selected; go to TAX PROCESSING below the dialog box and select DEFAULT TAX TYPE from the drop down arrow ON TAX TYPE select 01- Vat Standard rated (14%) Save this information by clicking the SAVE button. Don’t make any changesClick the search facility represented by the magnifying glass. Click – Cost of Sales/ Purchases.Click = Select button Again move to TAX PROCESSING below this dialog box and select DEFAULT TAX TYPE from the drop down arrow.2 | P a g eON TAX TYPE select 01- Vat Standard rated (14%) Save this information by clicking the SAVE button. Don’t make any changes 2.3 : Click on the NEW button (represented by the green button with a white + sign) To add the ledger accounts; Main Account Number --- Enter 1000 A Message is displayed that you about to create the first sub-account, JUST CLICK YES to continue (this message shall always pop- out each time you create the first sub account of a new main account) Sub-Account Number ---Enter 100 Account Description--- Sales – Flooring SAVE WITHOUT MAKING ANY CHANGES. Repeat these instructions from Account 1000/100 up to 7700/300 ***DON’T FORGET STUDENTNUMBER where it’s instructed to put one. ACCOUNT 8450 the last one you need make the following adjustments: i. On Main Account select BALANCE SHEET ii. Balance Sheet financial category select BANK iii. Report writer category select BANK again SAVE this Account and exit this Dialog box TASK 3 3.1. You are using Educational software. Ignore all information and follow the one on: If you are working on the educational softwareExactly as instructed 3.2 Whilst you still on SET UP COMPANY PARAMETERS on DOCUMENT Numbers select ONE SET OF NUMBERS FOR THIS COMPANY. 3.3 Below the dialog box its written CASH BOOKS Click the search facility and select the account 8450 from your list of general ledger accounts – Inter Bank transfer account as set in task 2.