BFA504 Accounting Systems and Processes MYOB Assignment January 2019

This document presents a complete solution for a practical accounting assignment using MYOB software. The assignment involves setting up a company named "YourName/StudentNumber" with provided opening balances, customer, supplier, and employee cards, and items for stock. The core of the assignment focuses on entering all transactions provided for January 2019, including a detailed cash receipts journal that records all cash inflows for the month. The solution includes the correct debit and credit entries for each transaction, ensuring accurate financial reporting. The assignment is based on the scenario of LookinGood Clothes Pty Ltd, a Tasmanian SME, converting from a manual bookkeeping system to MYOB to generate financial reports for their two stores. The provided bank statement and other financial data were used to complete the assignment.

Caroline
Cash Receipts Journal
01-01-19 To 31-01-19
26-05-19
1:45:02 PM
Page 1
ID# Acct# Account Name Debit Credit Job No.
CR 02-01-19 Payment; Woolworths
CR000035 1-1110 Cheque Account $8,495.00
CR000035 1-1200 Trade Debtors $8,495.00
CR 07-01-19 Cash for 00000453
CR000001 1-1110 Cheque Account $396.00
CR000001 1-1200 Trade Debtors $396.00
CR 07-01-19 Cash for 00000460
CR000005 1-1110 Cheque Account $138.00
CR000005 1-1200 Trade Debtors $138.00
CR 07-01-19 Cash for 00000467
CR000008 1-1110 Cheque Account $47.20
CR000008 1-1200 Trade Debtors $47.20
CR 07-01-19 Cash for 00000471
CR000010 1-1110 Cheque Account $72.00
CR000010 1-1200 Trade Debtors $72.00
CR 07-01-19 Cash for 00000478
CR000014 1-1110 Cheque Account $405.00
CR000014 1-1200 Trade Debtors $405.00
CR 07-01-19 Cash for 00000483
CR000017 1-1110 Cheque Account $198.00
CR000017 1-1200 Trade Debtors $198.00
CR 07-01-19 Cash for 00000486
CR000020 1-1110 Cheque Account $308.00
CR000020 1-1200 Trade Debtors $308.00
CR 07-01-19 Cash for 00000495
CR000024 1-1110 Cheque Account $188.80
CR000024 1-1200 Trade Debtors $188.80
CR 07-01-19 Cash for 00000506
CR000029 1-1110 Cheque Account $120.00
CR000029 1-1200 Trade Debtors $120.00
CR 14-01-19 Cash for 00000454
CR000002 1-1110 Cheque Account $154.00
CR000002 1-1200 Trade Debtors $154.00
CR 14-01-19 Cash for 00000464
CR000007 1-1110 Cheque Account $188.80
CR000007 1-1200 Trade Debtors $188.80
CR 14-01-19 Cash for 00000474
CR000012 1-1110 Cheque Account $120.00
CR000012 1-1200 Trade Debtors $120.00
CR 14-01-19 Cash for 00000479
CR000015 1-1110 Cheque Account $81.00
CR000015 1-1200 Trade Debtors $81.00
CR 14-01-19 Cash for 00000484
CR000018 1-1110 Cheque Account $220.00
CR000018 1-1200 Trade Debtors $220.00
CR 14-01-19 Cash for 00000491
CR000022 1-1110 Cheque Account $414.00

Caroline
Cash Receipts Journal
01-01-19 To 31-01-19
26-05-19
1:45:02 PM
Page 2
ID# Acct# Account Name Debit Credit Job No.
CR 14-01-19 Cash for 00000491
CR000022 1-1200 Trade Debtors $414.00
CR 14-01-19 Cash for 00000502
CR000027 1-1110 Cheque Account $144.00
CR000027 1-1200 Trade Debtors $144.00
CR 14-01-19 Cash for 00000510
CR000031 1-1110 Cheque Account $135.00
CR000031 1-1200 Trade Debtors $135.00
CR 14-01-19 Cash for 00000514
CR000033 1-1110 Cheque Account $54.00
CR000033 1-1200 Trade Debtors $54.00
CR 21-01-19 Cash for 00000455
CR000003 1-1110 Cheque Account $220.00
CR000003 1-1200 Trade Debtors $220.00
CR 21-01-19 Cash for 00000461
CR000006 1-1110 Cheque Account $368.00
CR000006 1-1200 Trade Debtors $368.00
CR 21-01-19 Cash for 00000468
CR000009 1-1110 Cheque Account $472.00
CR000009 1-1200 Trade Debtors $472.00
CR 21-01-19 Cash for 00000472
CR000011 1-1110 Cheque Account $288.00
CR000011 1-1200 Trade Debtors $288.00
CR 21-01-19 Cash for 00000480
CR000016 1-1110 Cheque Account $405.00
CR000016 1-1200 Trade Debtors $405.00
CR 21-01-19 Cash for 00000487
CR000021 1-1110 Cheque Account $176.00
CR000021 1-1200 Trade Debtors $176.00
CR 21-01-19 Cash for 00000496
CR000025 1-1110 Cheque Account $944.00
CR000025 1-1200 Trade Debtors $944.00
CR 21-01-19 Cash for 00000499
CR000026 1-1110 Cheque Account $188.80
CR000026 1-1200 Trade Debtors $188.80
CR 21-01-19 Cash for 00000503
CR000028 1-1110 Cheque Account $288.00
CR000028 1-1200 Trade Debtors $288.00
CR 21-01-19 Cash for 00000507
CR000030 1-1110 Cheque Account $48.00
CR000030 1-1200 Trade Debtors $48.00
CR 28-01-19 Cash for 00000456
CR000004 1-1110 Cheque Account $44.00
CR000004 1-1200 Trade Debtors $44.00
CR 28-01-19 Cash for 00000475
CR000013 1-1110 Cheque Account $240.00
CR000013 1-1200 Trade Debtors $240.00
CR 28-01-19 Cash for 00000485

Caroline
Cash Receipts Journal
01-01-19 To 31-01-19
26-05-19
1:45:03 PM
Page 3
ID# Acct# Account Name Debit Credit Job No.
CR 28-01-19 Cash for 00000485
CR000019 1-1110 Cheque Account $176.00
CR000019 1-1200 Trade Debtors $176.00
CR 28-01-19 Cash for 00000492
CR000023 1-1110 Cheque Account $138.00
CR000023 1-1200 Trade Debtors $138.00
CR 28-01-19 Cash for 00000511
CR000032 1-1110 Cheque Account $243.00
CR000032 1-1200 Trade Debtors $243.00
CR 28-01-19 Cash for 00000515
CR000034 1-1110 Cheque Account $135.00
CR000034 1-1200 Trade Debtors $135.00
CR 30-01-19 Payment; Woolworths
CR000036 1-1110 Cheque Account $2,165.40
CR000036 1-1200 Trade Debtors $220.00
CR000036 1-1200 Trade Debtors $345.00
CR000036 1-1200 Trade Debtors $637.20
CR000036 1-1200 Trade Debtors $188.80
CR000036 1-1200 Trade Debtors $120.00
CR000036 1-1200 Trade Debtors $23.00
CR000036 1-1200 Trade Debtors $23.00
CR000036 1-1200 Trade Debtors $70.80
CR000036 1-1200 Trade Debtors $141.60
CR000036 1-1200 Trade Debtors $240.00
CR000036 1-1200 Trade Debtors $48.00
CR000036 1-1200 Trade Debtors $81.00
CR000036 1-1200 Trade Debtors $27.00
CR 31-01-19 Interes received
CR000037 1-1110 Cheque Account $1.75
CR000037 8-1000 Interest Income $1.75
CR 31-01-19
CR000038 1-1110 Cheque Account $0.00
Grand Total: $18,419.75 $18,419.75