Sega assignment deadline on Wednesday

Assignment 2 Instructions - Accounts Payable Project.html

assignment 2 instructions - Accounts Payable Project 

assignment description and guidance

Assignment Description

This project has been adapted from Using Sage 300 2021, Heaney, Pearson.

The information provided in this project will allow you to set up the Accounts Payable module, add vendor groups and vendors, enter opening balances for current year transactions, process cheques and perform periodic processing.

This project is a continuation of the General Ledger, Bank and Tax Services projects.

Note: As you work through the assignment, make sure you print all reports to pdf when indicated in the assignment. You don’t need to submit all reports – only the ones requested and listed in the end. However, if you don’t print to pdf (view on screen and save as a pdf) when indicated, once you move on, you can’t return to print a report in pdf.

assignment Instructions

1. Start the Sage 300 2021 program and select the CASDAT company database using 01/31/2023 as the Session date.

2. Activate the Accounts Payable module.

3. Enter the information on the check stocks tab in the RBC bank record.  This information is required before any cheques can be written.

   Check Stock Code:	CHAD
   Description:	Cheque and Advice
   Next Check No.:	1500
   Stock Type:	Combined Check and Advice
   Check Form:	APCHK11A.RPT
   Advice Lines Per Page:	16
   Language:	English

      

4. Modify the Accounts Payable options to include the following criteria:  (accept the defaults for items not listed below)

   1. Enter your name as the Accounts Payable contact 

   2. Keep Vendor and Group Statistics

   3. Invoice, payment and adjustment batches do not have to be printed before posting

   4. The program should automatically calculate the tax on invoices

   5. Use the Royal Bank as the default bank code for payments

   6. Adjustments can be entered directly in payment batches

   7. System Generated Batches can be edited

5. Enter the following information on the A/P G/L Integration form:

   1. General Ledger transactions must be created during posting
   2. General Ledger transactions must be created in a new batch
   3. Do not consolidate General Ledger batches

6. Add an account set for items you purchase and charge to the sales department and an account set for items you purchase and charge to the service department.  Use the following accounts:

   Sales Dept:
   Account Set Code:	SALES
   Payables Control:	3000
   Purchase Discounts:	5100-100
   Prepayment:	1060*
   Service Department:
   Account Set Code:	SERV
   Payables Control:	3000
   Purchase Discounts:	5100-200
   Prepayment:	1060

*This account must be entered in the General Ledger before you can use it in the account set if it does not already exist.

1. Add the following distribution codes:

   Distribution Code	Description	G/L Account
   OFF100	Office Expense – Sales	6080-100
   OFF200	Office Expense – Service	6080-200
   TEL100	Telephone Expense – Sales	6060-100
   TEL200	Telephone Expense – Service	6060-200

2. Add a telephone expense distribution set that includes both telephone distribution codes, (TELDIS).  The distribution method should be set up to spread evenly amongst the departments.
3. Add the following terms:
   1. Net 30 days
   2. 2% 10, Net 30
   3. Installments – 50% due in 30 days, 30% due in 60 days and 20% due in 90 days. End of Next Month.
4. Add the following vendor groups:

   Group Code:	SLS
   Description:	Sales
   Account Set:	SALES
   Terms Code:	2% 10, Net 30
   Bank Code:	RBC (Royal Bank)
   Payment Code:	CHECK
   Generate Separate Payments:	No
   Distribute by:	Distribution Code
   Distribution Code:	OFF100
   Vendor and Amount:	Warning
   Vendor and Date:	Warning
   Tax Group:	ONT
   HST Tax Class:	1 – Taxable
   Group Code:	SER
   Description:	Service
   Account Set:	SERV
   Terms Code:	Net 30
   Bank Code:	RBC (Royal Bank)
   Payment Code:	CHECK
   Generate Separate Payments:	No
   Distribute by:	Distribution Code
   Distribution Code:	OFF200
   Vendor and Amount:	Warning
   Vendor and Date:	Warning
   Tax Group:	ONT
   HST Tax Class:	1 – Taxable

1. 1. Add the following vendors: (accept the defaults for fields not listed below).

   Office Depot	Vendor #:	1300
   	Group Code:	SLS
   	Terms Code:	2% 10, Net 30
   45 West Street	Credit Limit:	12,000.00
   Richmond Hill, Ontario	Dist. Code:	OFF100
   M3J 2T2
   Tel:  (416) 272-8585	Tax Group:	ONT
   	HST Class:	1 - Taxable
   Bell Canada	Vendor #:	1305
   	Group Code:	SLS
   	Terms Code:	Net 30
   1252 University Ave.	Credit Limit:	1,000.00
   Toronto, Ontario	Dist. Set:	TELDIS
   M2P 1L1
   Tel:  (416) 676-3115	Tax Group:	ONT
   	HST Class:	1 - Taxable
   Imperial Gas Station	Vendor #:	1310
   	Group Code:	SER
   	Terms Code:	INSTAL
   155 Dundas Street	Credit Limit:	5,000.00
   Mississauga, Ontario	G/L Account:	6010-100
   L8P 1T2
   Tel:  (905) 272-9632	Tax Group:	ONT
   	HST Class:	1 - Taxable
   Western Insurance	Vendor #:	1315
   	Group Code:	SER
   	Terms Code:	Net 30
   7300 West Avenue	Credit Limit:	5,000.00
   Toronto, Ontario	G/L Account:	6050-200
   M3T 2J5
   Tel:  (416) 676-7381	Tax Group:	ONT
   	HST Class:	1 - Taxable
   Hardware Depot	Vendor #:	1320
   	Group Code:	SLS
   	Terms Code:	Net 30
   1880 Tranor Dr.	Credit Limit:	6,000.00
   Toronto, Ontario	Dist Code:	OFF100
   M2T 3K9
   Tel:  (416) 675-9562	Tax Group:	ONT
   	HST Class:	1 - Taxable
   City of Ottawa	Vendor #:	1325
   	Group Code:	SLS
   	Terms Code:	Net 30
   1500 River Avenue	Credit Limit:	5,000.00
   Ottawa, Ontario	Dist Code:	OFF100
   K0A 1R5
   Tel:  (613) 724-6911	Tax Group:	ONT
   	HST Class:	1 - Taxable
   MSJ Computers	Vendor #:	1330
   	Group Code:	SLS
   	Terms Code:	Net 30
   965 North East Avenue	Credit Limit:	20,000.00
   Toronto, Ontario	Dist Code:	OFF100
   M3T 2J5
   Tel:  (416) 676-2819	Tax Group:	ONT
   	HST Class:	1 - Taxable
   F. Romkes Insurance	Vendor #:	1335
   	Group Code:	SER
   	Terms Code:	Net 30
   1600 Talon Avenue	Credit Limit:	5,000.00
   Brampton, Ontario	Dist Code:	OFF200
   L7A 1A1
   Tel:  (905) 459-2211	Tax Group:	ONT
   	HST Class:	1 - Taxable
   Joel’s Gas Bar	Vendor #:	1340
   	Group Code:	SER
   	Terms Code:	Net 30
   1250 Third Lane	Credit Limit:	3,000.00
   Ottawa, Ontario	Dist Code:	OFF200
   K0A 4K6
   Tel:  (613) 724-1873	Tax Group:	ONT
   	HST Class:	1 - Taxable

   1. Enter the following vendor December 2022 historical invoices for December 2022.  All taxes on these invoices should be 0.00.  Use 01/31/2023 as the batch date. Select yes if a date warning appears. Distribute any amounts as appropriate (including taxes for this example) 

      Name	Terms	Date	Invoice	Amount
      Imperial Gas Station	INSTAL	12/08/22	7412	5,685.00
      MSJ Computers	INSTAL	12/10/22	MSJ7225	17,500.00
      Bell Canada	Net 30	12/15/22	121520	303.07
      Office Depot	INSTAL	12/16/22	84552	9,581.93
      Hardware Depot	INSTAL	12/17/22	2251	4,230.00
      			TOTAL	$ 37,300.00

   1.  Enter the following vendor historical invoices for January 2023.  All taxes on these invoices should be 0.00.  Use 01/31/2023 as the batch date. Distribute any amounts as appropriate (including taxes for this example) 

      Name	Terms	Date	Invoice	Amount
      Hardware Depot	Net 30	01/07/23	81792	655.40
      City of Ottawa	Net 30	01/09/23	010921	656.88
      MSJ Computers	Net 30	01/09/23	MSJ9671	275.72
      Bell Canada	Net 30	01/15/23	011521	303.07
      F. Romkes Insurance	Net 30	01/15/23	11922	282.50
      Joel’s Gas Bar	Net 30	01/18/23	9125	88.71
      Office Depot	Net 30	01/19/23	55274	85.87
      			TOTAL	$  2,348.15

   2. Print the batch listing report for both historical invoice batches and view it for accuracy. (dates Jan 1 to 31).
   3. Post the batches together after you have checked them for errors.
   4. Print the Posting Journal.
   5. Print the General Ledger batch listing for the batch that was sent directly to the General Ledger from the Accounts Payable module.
   6. Delete the batch in the General Ledger that was created by the Accounts Payable historical invoice batches. Why is it necessary to delete this batch?
   7. Print the Tax Tracking report. Select Purchases as the Transaction Type. By Purchases. Both Batches.
   8. Clear the Tax Tracking report information for Purchases.  2022/12 to 2023/01

   9. Print the Aged Payables report by the due date as of 01/31/2023 with a cutoff date of 01/31/2023. Review the Total Payables amount and write it down. You will compare it to the General Ledger module in the next step. Leave all defaults.

   10. Use the Account History Inquiry form to confirm the amount of the Accounts Payable account in the General Ledger as of Period 1 in 2023. This amount should be the same as the amount to the Aged Payables report printed in the previous step.
   11. Change the session date to 02/28/2023.
   12. Enter the following February 2023 invoices. Use 02/28/2023 as the batch date.

       Name	Terms	Date	Inv. No.	Amount
       Office Depot	2% 10, Net 30	02/04/23	82143	2,684.32
       		Distribution Code:		OFF100
       		Amount:		2,375.50
       		HST:		308.82
       (Handwritten check # 1501)		Prepayment:		1,000.00
       		Prepayment Batch Date:		2/04/23
       Western Insurance	Net 30	02/09/23	62285	734.50
       		G/L Account:		6050-200
       		Amount:		650.00
       		HST:		84.50
       Bell Canada	Net 30	02/15/23	021521	282.50
       		Distribution Set:		TEL100
       		Distribution Amount:		250.00
       		HST		32.50
       Office Depot	2% 10, Net 30	02/10/23	22111	927.73
       		Distribution Code:		OFF100
       		Amount:		821.00
       		HST:		106.73

   13. Print the batch listing report for this batch and view it for accuracy.
   14. Post the batch after you have checked it for errors.
   15. Print the Posting Journal.
   16. Enter the following February 2023 payments:

   Description:           February 2023 Payments

   Batch Date:            02/28/2023

   Bank Code:            RBC

   Payments:

   1. 1. 1. Feb 5 - Enter a payment to Bell Canada for invoices 121520 and 011521
         2. Feb 6 - Enter a payment to Imperial Gas Station for invoice 7412, payment number 1.

   Miscellaneous Payment:

   1. Feb 7 - Enter a miscellaneous payment to Mr. Jason Mathers.  You purchased office supplies from him for use in the service department.  The total amount of invoice 6221 is 56.00 + HST.

   1. Print the batch listing report for this payment batch together with the payment batch that was created during invoice entry when a prepayment was entered from Office Depot against Invoice No. 82143.  Remember to enter 02/04/2023 and 02/28/2023 as the batch date range.  Check the report for accuracy. (change lead check to 1501, accept warning)
   2. Print and post each cheque batch separately after you have checked them for errors. Assume all cheques are printed successfully.
   3. Print the Posting Journal report for the payment batches.  (1 & 2)
   4. Create a Payment Selection Code called “ALL” that will be used for all system-generated cheque runs.  Accept all of the defaults.
   5. Create a Payment Batch using the following criteria: (accept the defaults for fields not mentioned)

      Selection Code:	ALL
      Payment Date:	02/10/2023
      Batch Date:	02/10/2023
      Pay from Bank:	RBC
      Select Documents by:	Due Date or Discount Date
      Due on or before:	02/10/2023
      Discounts available from	02/05/2023 – 02/10/2023

   6. Print the pre-check register (before Control Payments).
   7. Use Control payments to change the invoices being paid:
      1. You are not going to pay Office Depot - Invoice Number 84552, payment 1.
      2. You have promised to pay F. Romkes Insurance, Invoice 11922
   8. Reprint the pre-check register (after Control Payments).
   9. Generate the payment batch.
   10. Print the batch and check it for accuracy.
   11. Print the cheques and post the batch. Assume all cheques are printed successfully.
   12. Print the Posting Journal.
   13. Print the Cheque Register for all payment batches.
   14. Set the AP module as a sub-ledger for account 1010 in the General Ledger module.
   15. Post the open Accounts Payable batches in the General Ledger module that were created from the February batches.
   16. Print the Vendor Transactions report by document date to view the outstanding Accounts Payable transactions. Review the balance total and write it down. You will compare it to the General Ledger module in the next step.
   17. Use the Account History Inquiry form to confirm the amount of the Accounts Payable account in the General Ledger as of Period 2 in 2023. This amount should be the same as the balance total on the Vendor Transactions report printed in the previous step.

   assignment Submission

   Once you complete your assignment:

   1. Submit the following 10 reports in the Assignment 2 Submission Folder in Brightspace.
   2. Make sure you name all your reports exactly as the bolded portion below, including the report number.
   3. When naming your files do not use . (period) before your name. Use a dash or hyphen.
   4. Submit all 10 reports in a PDF format.
   1.    1. Vendor Groups List – your name (including profile and group members.)
   2.    2. Vendor List – your name (include address, profile sorted by vendor number.)
   3.    3. Historical Invoices posting journal – your name (sorted by vendor number.)
   4.    4. Aged Payables report as of January 31, 2023 – your name (cutoff date the same).
   5.    5. February 2023 Invoices Posting Journal – your name (sorted by vendor number.)
   6.    6. February 2023 Payments – Posting Journal – your name including the prepayment but not the generated batch (sorted by vendor number.)
   7.    7. Pre-check register – your name.
   8.    8. Pre-check register – your name (after control payments.)
   9.    9. System Generated Check Batch posting journal – your name (sorted by vendor number.)
   10.   10. Vendor Transactions by Document Date – your name (sorted by vendor number.)

   evaluation breakdown

   Total Marks: 35

   Copyright © 2020 Pearson Canada Inc.