BISM7209 Accounting Project: Surfing Shops Australia Reconciliation

This project involves creating a reconciliation report for Surfing Shops Australia (SSA) using MYOB AccountRight Plus. The assignment is part of an Accounting Information Systems project (BISM7209) and requires students to integrate sales, purchasing, and inventory data. The report includes details of deposits, withdrawals, cleared checks, outstanding checks, and outstanding deposits. The objective is to convert SSA's manual accounting system to a computerized one. The project also requires students to add and modify accounts to produce complete Balance Sheet and Profit & Loss statements. The report covers transactions from July 2018 and the final reconciliation account shows the expected balance on the statement as $1,399,459.05. This assignment solution is available on Desklib, along with other past papers and solved assignments.

Surfing Shops Australia- Vishwa Shah
45101720
Reconciliation Report
14-05-19
6:05:56 PM
Page 1
ID# Date Memo/Payee Deposit Withdrawal
Cheque Account: 1-1110 ANZ Bank
Date of Bank Statement: 31-07-18
Last Reconciled:
Last Reconciled Balance: $0.00
Cleared Cheques
54 01-07-18 Petty Cash Account Created $1,950.00
55 05-07-18 Payment for License Certificate $5,250.00
56 14-07-18 Payment of Assurance Fee $25,000.00
57 17-07-18 Petty Cash Reimbursed $1,950.00
58 20-07-18 Payment of ATO $30,000.00
59 22-07-18 Paid Secured Union $2,500.00
60 24-07-18 Paid to Australian Superannua $10,650.25
61 24-07-18 Paid for New Security Equipme $1,050.00
62 26-07-18 Paid for New laser printer $475.00
63 28-07-18 Payment made to Kouta Ltd. $12,000.00
64 28-07-18 Payment to Scania $41,000.00
65 30-07-18 Bank Fee $2,500.00
66 31-07-18 Creatures of Leisure $10,539.25
67 31-07-18 Futures Fins $19,746.05
68 31-07-18 Base Surfboards $7,333.90
69 31-07-18 FCS $51,484.50
70 31-07-18 Sharp Eye Surfboards $9,006.90
Total: $0.00 $232,435.85
Cleared Deposits
CR000002 04-07-18 Payment; Goodtime Surf $12,130.00
CR000003 09-07-18 Payment; Noosa Longboards $25,345.35
CR000001 10-07-18 Payment; Beach Culture $500.00
CR000008 15-07-18 Interest Received from Bank $2,450.50
CR000009 18-07-18 Issue of Capital "B" Shares to $1,400,000.00
CR000004 20-07-18 Payment; East Swell Water Sp $11,931.25
CR000005 23-07-18 Payment; Beach Culture $11,664.20
CR000006 25-07-18 Payment; Goodtime Surf $14,606.25
CR000007 27-07-18 Payment; East Swell Water Sp $1,113.35
CR000010 29-07-18 Mortgage Loan from Bank $100,000.00
Total: $1,579,740.90 $0.00
Reconciliation
AccountRight Enterprise Balance on 31-07-18:$1,399,459.05
Add: Outstanding Cheques: $0.00
Subtotal: $1,399,459.05
Deduct: Outstanding Deposits: $0.00
Expected Balance on Statement:$1,399,459.05