2011 PrintingCT3 Computer Tutorial 3 Accounting Using Sage Accpac® ERP 4th Edition
2 Introduction Computer Tutorial 3 Reference material The material presented in this tutorial can be used without referring to other sources. The
Computer Tutorial 3 Lesson 7 1 LESSON 7 Maintaining Accpac Topic outline 7.1 A logical chart of accounts 7.2 Maintenance procedures 7.3 Opera
2 Lesson 7 Computer Tutorial 3 5. If you are working with more than one general ledger, try to standardize the charts of accounts. Use account nu
Computer Tutorial 3 Lesson 7 3 There are two common ways to include the Accumulated amortization contra accounts in a chart of accounts: 1. Place
4 Lesson 7 Computer Tutorial 3 Use meaningful names for account descriptions In the G/L Account window, each account is assigned a description. It
Computer Tutorial 3 Lesson 7 5 before year-end close after setting up Accpac before and after creating a new company before year-end close before m
6 Lesson 7 Computer Tutorial 3 EXHIBIT 7-1 Data Integrity window 2. In the Available Applications section, click General Ledger 5.6A, then click
Computer Tutorial 3 Lesson 7 7 EXHIBIT 7-3 Integrity Check Log 5. Close the Integrity Check Log and the Data Integrity window to return to the
8 Lesson 7 Computer Tutorial 3 4. Always back up the data before posting. 5. Post the batches, which will trigger the printing of the posted bat
Computer Tutorial 3 Lesson 7 9 7. Print the month-end financial statements. Make sure the balance sheet balances and the net income amount in the
Computer Tutorial 3 Introduction 3 Lesson 5 Printing reports and making adjusting entries This lesson describes the various financial reports av
10 Lesson 7 Computer Tutorial 3 TOPIC 7.5 Year-end procedures One major benefit of using Accpac is that year-end procedures are significantly si
Computer Tutorial 3 Lesson 7 11 TOPIC 7.6 Starting a new fiscal year When the recommended year-end procedures are almost complete and you are re
12 Lesson 7 Computer Tutorial 3 Following is a basic set of internal controls that can be used to protect the financial information in a general le
Computer Tutorial 3 Lesson 7 13 type of service for a fee. Banks are also good choices because most backup media are small enough to fit into a saf
14 Lesson 7 Computer Tutorial 3 8. Torban is a new accountant for a small, privately held firm. He is surprised to find that computer printouts fr
Computer Tutorial 3 Appendix A 1 APPENDIX A Installing Sage Accpac ERP CGA 5.6A This appendix describes how to install and remove Sage Accpac E
2 Appendix A Computer Tutorial 3 3. Click Microsoft SQL Server 2005 Express Edition and choose Uninstall. Wait for the uninstall to complete. 4.
Computer Tutorial 3 Appendix A 3 EXHIBIT A-2 Setup Menu 3. Click Install Microsoft .NET Framework 3.5 SP1. The files are extracted and the setu
4 Appendix A Computer Tutorial 3 EXHIBIT A-4 Maintenance Mode If a message appears recommending that you “...download and install the latest serv
Computer Tutorial 3 Appendix A 5 EXHIBIT A-6 Windows Update Standalone Installer 5. You may need to restart your computer at this point. If so
6 Appendix A Computer Tutorial 3 EXHIBIT A-8 Windows Update Message 7. Click Install PowerShell 1.0. As with the previous item, a command window
Computer Tutorial 3 Appendix A 7 TOPIC A.3 Installing Sage Accpac ERP CGA 5.6A Follow these steps to install Sage Accpac ERP CGA 5.6A: 1. At t
8 Appendix A Computer Tutorial 3 3. Click the option to accept the terms of the license agreement, and click Next. EXHIBIT A-12 User License Agre
Computer Tutorial 3 Appendix A 9 EXHIBIT A-13 Sage Accpac Folders 5. At the Select Features dialogue, ensure that the Multicurrency and Financi
10 Appendix A Computer Tutorial 3 6. Click Next to accept the default shortcut location, and then click Install to begin the installation. EXHIBI
Computer Tutorial 3 Appendix A 11 EXHIBIT A-16 License Manager 8. Click Finish on the Sage Accpac 5.6A InstallShield Wizard page. (Note: The Re
12 Appendix A Computer Tutorial 3 Data Loader Sage Accpac ERP CGA 5.6A does not come with any company’s dataset installed. You must download the da
Computer Tutorial 3 Appendix A 13 EXHIBIT A-19 Sage Accpac CGA Data Loader A company’s dataset is simply a folder that contains five items: On
14 Appendix A Computer Tutorial 3 EXHIBIT A-20 Locating a dataset 4. Click on the dataset you want to load and click Load (Exhibit A-21). EXHI
Computer Tutorial 3 Appendix A 15 EXHIBIT A-22 Successful completion Loading from a backup You may wish to load a backup copy of the data, rather
Computer Tutorial 3 Lesson 1 1 LESSON 1 Basic concepts of a general ledger and Sage Accpac ERP CGA 5.6A Topic outline 1.1 Journals and ledgers 1
16 Appendix A Computer Tutorial 3 TOPIC A.5 Uninstalling Sage Accpac ERP CGA 5.6A To remove Sage Accpac ERP 5.6A, follow these steps: 6. Make
Computer Tutorial 3 Appendix B 1 APPENDIX B Solutions to self-testing questions Lesson 1 1. A computerized general ledger keeps financial infor
2 Appendix B Computer Tutorial 3 2. In Accpac: a. An account number, or account code, identifies the account in the chart of accounts. It is norm
Computer Tutorial 3 Appendix B 3 press the BACKSPACE or DELETE key to erase the entire debit amount. Press ENTER (or TAB) to move the cursor to the
4 Appendix B Computer Tutorial 3 3. For each revenue or expense item that should be accrued, adjusting transactions are created and entered into a
Computer Tutorial 3 Appendix B 5 2. Accpac places few restrictions on the structure of the chart of accounts. It is possible to set up the chart
Computer Tutorial 3 Appendix C 1 APPENDIX C Managing budget data Topic outline C.1 Entering and editing budget data C.2 Viewing and printing b
2 Appendix C Computer Tutorial 3 TOPIC C.1 Entering and editing budget data When using Accpac to create a budget, there is a range of built-in c
Computer Tutorial 3 Appendix C 3 In the Year fields, you can select any year established in the fiscal set of the general ledger. In the Fis
2 Lesson 1 Computer Tutorial 3 TOPIC 1.1 Journals and ledgers With a manual accounting system, each transaction is recorded in chronological ord
4 Appendix C Computer Tutorial 3 EXHIBIT C-3 Enquiry Amount column showing amounts 7. You are now able to modify Budget Set 1 based on Actual 20
Computer Tutorial 3 Appendix C 5 Copy, As Is The program copies the amounts in the Inquiry Amount fields to the Budget Amount fields without modif
6 Appendix C Computer Tutorial 3 5. Click the radio button next to Copy, As Is. Click Replace. Note the amounts from the Inquiry Amount column hav
Computer Tutorial 3 Appendix D 1 APPENDIX D Glossary Some of the technical terms used in this tutorial are listed and defined below. Certain def
2 Appendix D Computer Tutorial 3 Batch A group of transactions. Total debits and credits in a batch must be equal before the batch is posted. Cha
Computer Tutorial 3 Appendix D 3 Finder window A window that displays a list of input options for a specified field. For example, clicking the Fin
4 Appendix D Computer Tutorial 3 Normal balance The normal balance is either debit or credit depending on the account. It is the balance under ord
Computer Tutorial 3 Appendix D 5 Source code A code used to classify transactions. The source code identifies the type of journal entry to provide
Computer Tutorial 3 Lesson 1 3 EXHIBIT 1-2 Examples of a partial general ledger and a subsidiary ledger Partial general ledger NAME: CASH ACC
4 Lesson 1 Computer Tutorial 3 TOPIC 1.2 Overview of a general ledger To record the assets, liabilities, and shareholders’ equity (including rev
Computer Tutorial 3 Lesson 1 5 TOPIC 1.3 The chart of accounts A chart of accounts is a logical structure of account numbers designed to make it
6 Lesson 1 Computer Tutorial 3 11/4/2005 2:56:05 PMCGA Educational Version - Sample Company LimitedG/L Chart Of Accounts - Short Form (GLCHTA01)
Computer Tutorial 3 Lesson 1 7 2025 Accounts payable, retainage Active B,CR,
Certified General Accountants Association of Canada 100 — 4200 North Fraser Way Burnaby, British Columbia Canada V5J 5K7 www.
8 Lesson 1 Computer Tutorial 3 4050 Sales, dividers Active I,CR
Computer Tutorial 3 Lesson 1 9 6620 Shop supplies Active I,DR,
10 Lesson 1 Computer Tutorial 3 The trial balance worksheet also forms the basis of financial statements because it contains a detailed listing of
Computer Tutorial 3 Lesson 1 11 The direct-entry method enables you to enter the transactions directly, which reflects the results of the transactio
12 Lesson 1 Computer Tutorial 3 TOPIC 1.7 Installing the program and data files The procedure for installing Sage Accpac ERP CGA 5.6A is describ
Computer Tutorial 3 Lesson 1 13 EXHIBIT 1-4 Using the Start button 2. The Open Company sign-on window appears (Exhibit 1-5). Click the drop-dow
14 Lesson 1 Computer Tutorial 3 EXHIBIT 1-5 Open Company sign-on window TOPIC 1.9 The company desktop After you have selected a company, Accpac
Computer Tutorial 3 Lesson 1 15 Accpac uses a design similar to Windows Explorer. On the left-hand side is a navigation pane that shows services and
16 Lesson 1 Computer Tutorial 3 To use this data, select Sample Company Inc. from the Open Company window upon starting Accpac. The Open Fiscal Per
Computer Tutorial 3 Lesson 2 1 LESSON 2 Working with a chart of accounts Topic outline 2.1 Using an input window 2.2 The G/L Accounts window 2
iii About CGA-Canada CGA-Canada today CGA is the fastest-growing accounting designation in Canada. The CGA designation focuses on integrity, ethic
2 Lesson 2 Computer Tutorial 3 Input features in the G/L Accounts window Fields Fields are often text boxes into which you type characters; some fi
Computer Tutorial 3 Lesson 2 3 EXHIBIT 2-2 Finder - Accounts window 3. If you click the Find by: drop-down arrow, you can choose the column by w
4 Lesson 2 Computer Tutorial 3 TOPIC 2.2 The G/L Accounts window You need to know what each field in the G/L Accounts window means. With the G/L
Computer Tutorial 3 Lesson 2 5 appears when you select this option. This is where you would choose the accounts to which you would have amounts all
6 Lesson 2 Computer Tutorial 3 EXHIBIT 2-4 Accpac System Manager Help window 2. To access General Ledger Help, you need an open General Ledger w
Computer Tutorial 3 Lesson 2 7 System Manager Help will provide information on Accpac services that are not dependent on any particular module such
8 Lesson 2 Computer Tutorial 3 3. In the G/L Trial Balance Report window (Exhibit 2-7), click the drop-down arrow to the right of the Report Forma
Computer Tutorial 3 Lesson 2 9 EXHIBIT 2-8 Print dialog box 6. Close the G/L Trial Balance Report window to return to the company desktop. Your
10 Lesson 2 Computer Tutorial 3 EXHIBIT 2-9 Sample Company Ltd. opening trial balance for 2010
Computer Tutorial 3 Lesson 2 11
iv contributes to the profession’s body of knowledge through research and participation in international accounting organizations, particularly the
12 Lesson 2 Computer Tutorial 3 The net income for fiscal Period 1 in 2010 is $88,538.81. TOPIC 2.5 Printing and reviewing the chart of accoun
Computer Tutorial 3 Lesson 2 13 EXHIBIT 2-10 G/L Chart of Accounts Report window
14 Lesson 2 Computer Tutorial 3 EXHIBIT 2-11 Chart of Accounts
Computer Tutorial 3 Lesson 2 15
16 Lesson 2 Computer Tutorial 3
Computer Tutorial 3 Lesson 2 17 4. Review your Chart of Accounts report, noting several things: The date and time the printout was created is
18 Lesson 2 Computer Tutorial 3 The following column displays the account configuration: B for balance sheet or I for income statement accounts,
Computer Tutorial 3 Lesson 2 19 Adding more new accounts Add more new accounts to complete the chart of accounts for Sample Company Ltd. 11. Use
20 Lesson 2 Computer Tutorial 3 Some settings are permanent. In the initial setup process, for example, you can create a format for the segmente
Computer Tutorial 3 Lesson 2 21 Database Dump Database Dump allows you to externally extract an Accpac data set. The data can then be stored as a t
v Contents: Computer Tutorial 3 About CGA-Canada ...
22 Lesson 2 Computer Tutorial 3 4. You should get a message box indicating the operation is complete (see Exhibit 2-13). Click on OK. Then close t
Computer Tutorial 3 Lesson 3 1 LESSON 3 Managing transactions Topic outline 3.1 Accpac journal entries and transaction batches 3.2 G/L Journal
2 Lesson 3 Computer Tutorial 3 TOPIC 3.1 Accpac journal entries and transaction batches When using Accpac, you are required to organize accounti
Computer Tutorial 3 Lesson 3 3 No accounting program can check for incorrect accounting treatment — you can still credit or debit the wrong account
4 Lesson 3 Computer Tutorial 3 Ready to Post. This column shows whether the batch is ready to be posted. Double-clicking in this field changes the
Computer Tutorial 3 Lesson 3 5 EXERCISE 3.1 Creating a batch 1. The G/L Batch List window should still be open. If not, follow the instructions a
6 Lesson 3 Computer Tutorial 3 Source Code. Enter a source code for the transaction. There are default codes, or you can create your own. For examp
Computer Tutorial 3 Lesson 3 7 The following columns appear in Multicurrency ledgers only: Currency Source Debit (instead of the Debit column
8 Lesson 3 Computer Tutorial 3 In Exercise 3.3, you print a batch. EXERCISE 3.3 Printing transaction batches Printing from the G/L Batch List wind
Computer Tutorial 3 Lesson 3 9 Study the report and notice the following: The date shown in the upper-left corner is the system date from your
vi Lesson 4 Posting transaction batches 4.1 Batch status ...
10 Lesson 3 Computer Tutorial 3 BATCH 148 ENTRIES 1-3 Account Date Line Source Code Description Account Dr. Cr. 12/30/2010 1 JE
Computer Tutorial 3 Lesson 3 11 8. In the Account field, you can directly enter the account number by typing it into the field. If the account num
12 Lesson 3 Computer Tutorial 3 13. Enter the remaining two transactions for Batch 148, then create a new batch and enter the last entry. 14. Cl
Computer Tutorial 3 Lesson 3 13 TOPIC 3.6 Deleting a transaction batch When there are many errors in a transaction batch, it may be simpler to d
14 Lesson 3 Computer Tutorial 3 TOPIC 3.7 Self-testing questions 1. What is a journal entry in Accpac? Must the total debit amount equal the t
Computer Tutorial 3 Lesson 4 1 LESSON 4 Posting transaction batches Topic outline 4.1 Batch status 4.2 Backing up before posting 4.3 Individu
2 Lesson 4 Computer Tutorial 3 In Exercise 4.1, you view the G/L Batch List before posting the transaction batches. EXERCISE 4.1 Viewing a batch s
Computer Tutorial 3 Lesson 4 3 TOPIC 4.3 Individual posting of batches In Accpac there are several methods of posting batches. The simplest meth
4 Lesson 4 Computer Tutorial 3 3. In the G/L Batch List window, click Post. The batch is now posted to the general ledger. 4. Leave the G/L Bat
Computer Tutorial 3 Lesson 4 5 TOPIC 4.5 Correcting transaction errors after posting Once transactions are posted to the general ledger, you gene
vii Appendix B Solutions to self-testing questions...
6 Lesson 4 Computer Tutorial 3 Alternative A: Make an adjusting entry In this alternative, $10,000 is moved from Mortgage payable to Notes payable
Computer Tutorial 3 Lesson 5 1 LESSON 5 Printing reports and making adjusting entries Topic outline 5.1 G/L reports 5.2 Printing a transactions
2 Lesson 5 Computer Tutorial 3 Batch Status: prints a record of all G/L batches Batch Listing: prints a record of transactions that have not
Computer Tutorial 3 Lesson 5 3 EXERCISE 5.1 Printing the transactions listing 1. Close any windows that you may have open and return to the compan
4 Lesson 5 Computer Tutorial 3 EXHIBIT 5-1 Print Destination window 2. Click G/L Reports, then double-click the Transactions Listings icon. Ensu
Computer Tutorial 3 Lesson 5 5 EXHIBIT 5-3 Choose Export File window 4. In the Choose Export File window, there is a field for entering the file
6 Lesson 5 Computer Tutorial 3 EXHIBIT 5-4 Transactions Listing report displayed on the screen One use of displaying a report on the screen is to
Computer Tutorial 3 Lesson 5 7 EXERCISE 5.4 Printing a trial balance 1. Click G/L Reports, then double-click the Trial Balance icon. The G/L Trial
8 Lesson 5 Computer Tutorial 3 EXERCISE 5.5 Making and posting adjusting entries 1. Add the following account to your chart of accounts (see Topi
Computer Tutorial 3 Lesson 5 9 EXHIBIT 5-5 Batch listing TOPIC 5.5 Making an adjustment to a prior period There are situations where you may ne
10 Lesson 5 Computer Tutorial 3 EXHIBIT 5-6 G/L Options window, Posting tab The G/L Options window has four tabs: Company, Account, Posting, and
Computer Tutorial 3 Lesson 5 11 EXERCISE 5.6 Posting an adjustment to a previous year Assume that the inventory value was overstated at the end of
12 Lesson 5 Computer Tutorial 3 6. Close all open windows to return to the company desktop. TOPIC 5.6 Self-testing questions 1. What is a tran
Computer Tutorial 3 Lesson 6 1 LESSON 6 Designing and printing financial statements Topic outline 6.1 Printing a financial statement 6.2 Modif
2 Lesson 6 Computer Tutorial 3 EXERCISE 6.1 Printing a balance sheet 1. Click Financial Reporter on the left navigation pane, then double-click
Computer Tutorial 3 Lesson 6 3 TOPIC 6.2 Modifying a financial statement Accpac uses MS Excel to produce its financial statements, both in crea
4 Lesson 6 Computer Tutorial 3 EXHIBIT 6-3 Preliminary balance sheet 3. Combine all the bank accounts into one entry. (Assume the foreign bank a
Computer Tutorial 3 Lesson 6 5 EXHIBIT 6-4 Balance sheet with bank accounts combined 4. In this manner, combine the following accounts: Prepaid
6 Lesson 6 Computer Tutorial 3 EXHIBIT 6-5 Final combined balance sheet In this way, you can modify the financial statement to suit your
Computer Tutorial 3 Lesson 6 7 scratch or modify one of the specification files provided with the General Ledger. The default location for the spec
Computer Tutorial 3 Introduction 1 Introduction to Computer Tutorial 3 Purpose of the tutorial The purpose of this tutorial is to present the ba
8 Lesson 6 Computer Tutorial 3 EXHIBIT 6-7 Spreadsheet with new filename Columns With your working copy of the quikbal1.xls specification file op
Computer Tutorial 3 Lesson 6 9 Missing from this specification file is a title row. This would appear as “/T”. Anything on a title row would appea
10 Lesson 6 Computer Tutorial 3 Row 14 has a formula that generates the account balance for the period from the general ledger. This particular fo
Computer Tutorial 3 Lesson 6 11 EXERCISE 6.4 1. On your working copy of the quikbal1.xls spreadsheet, click FR, FR View. The G/L Financial State
12 Lesson 6 Computer Tutorial 3 EXHIBIT 6-9 Sample Company Limited balance sheet 3. You will make changes to the current asset section of the ba
Computer Tutorial 3 Lesson 6 13 EXHIBIT 6-10 Current asset section of balance sheet 9. Now you will combine accounts in the current liabilities
14 Lesson 6 Computer Tutorial 3 In this way, you can modify specification files to suit your needs. Any future balance sheets will be produced acco
Computer Tutorial 3 Lesson 6 15 cell to show a leading dollar sign by clicking Format Cells. Click the number tab, and choose Accounting as the cat
16 Lesson 6 Computer Tutorial 3 EXHIBIT 6-13 Specification file showing formulas 22. Click FR, FR View. Ensure the Year/Period is 2010-12. Click
Computer Tutorial 3 Lesson 6 17 TOPIC 6.5 Self-testing questions 1. List the six standard financial statements that come with General Ledger Ac
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