INFS5978 Accounting Information Systems (AIS) T2, 2022

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INFS5978 Accounting Information Systems (AIS)

T2, 2022

MYOB Task 1 – Inventory, Purchases and Sales


Question 1


Create a new MYOB file from the information provided below.

Company Name: Famous Outfits 

Address: 43 Arnold Ave, NSW 2000

Phone Number: (02) 9585 1656

Fax Number: (02) 9585 1650

Email Address:info@famousoutfits.com.au

A.B.N or T.F.N: 99 147 573 186

Conversion Month: January

Accounting Periods: 12

Current Financial Year: 2022

Last Month in Financial Year: June

Accounts List: I would like to start with one of the lists provided

Industry Classification: Retail

Type of Business: Formal Wear Rental & Sales

IMPORTANT NOTICE: Save your file to the Zid drive pointed by myAccess.

IMPORTANT NOTICE: Go to Setup – Company Information. Using the Snipping Tool, provide a screenshot of the Company Information.


Question 2


Part A

1. How many Command Centres are available in MYOB? Briefly explain each of them.

2. Explain the difference between Header Account and Detail Account.

Part B

Edit account number 1-1110 Cheque Account to show an opening balance of $650,000 Edit account number 5-6000 Other Purchases to the new name of Accessory-Purchase

Edit account number 9-2000 Income Tax Expense to the new name of Inventory Count Adjustment.

IMPORTANT NOTICE: Using the Snipping Tool, provide a screenshot of the Profile tab for 1-1110 Cheque Account and the Profile tab for account 9-2000 Inventory Count Adjustment.

Part C

Create a new account with the following details:

Account number 5-4000; Account Name: Formal wear – Purchase; Account Type: Cost of Sales

IMPORTANT NOTICE: Using the Snipping Tool, provide a screenshot of the Profile tab for account 5- 4000 Formal wear - Purchase

Question 3


Set up the following inventory items. All items are purchased, held in inventory and sold.

All prices include GST.

PART A - All Suits


Item #

MONSU01

GENSU01

BALSU01

Name

Moncova Suit

Geneva Suit

Balmoral Suit

Buying unit of

Measure

Each

Each

Each

# per buying unit

1

1

1

Buying tax code

GST

GST

GST

Selling price

$240

$240

$240

# per selling unit

1

1

1

Selling tax code

GST

GST

GST

Inclusive/Exclusive

Inclusive

Inclusive

Inclusive

Minimum level

2

2

0


Item #

EATSU01

CAPSU01

ROMSU01

Name

Eaton Suit

Capri Suit

Roma Suit

Buying unit

Each

Each

Each

# per buying unit

1

1

1

Buying tax code

GST

GST

GST

Selling price

$250

$250

$250

# per selling unit

1

1

1

Selling tax code

GST

GST

GST

Inclusive/Exclusive

Inclusive

Inclusive

Inclusive

Minimum level

2

2

0


Item #

EVETA01

GRMOSU01

CHMOSU01

Name

Evening Tails

Grey Morning Suit

Charcoal Morning Suit

Buying unit

Each

Each

Each

# per buying unit

1

1

1

Buying tax code

GST

GST

GST

Selling price

$260

$260

$260

# per selling unit

1

1

1

Selling tax code

GST

GST

GST

Inclusive/Exclusive

Inclusive

Inclusive

Inclusive

Minimum level

2

2

0

IMPORTANT NOTICE: Using the snipping tool, provide a screenshot of tab All Items from the Items List.



PART B - All Dresses













2022-06-28