BSB110 Accounting Assignment Part A: Reckon Software Reports Analysis

This assignment solution presents the Audit Trail Report and Adjusted Trial Balance generated using Reckon Software for Socialise Media Pty Ltd. The audit trail spans from March 18 to May 9, 2019, detailing transactions, including bills, payments, and journal entries, along with their respective amounts and account splits. The Adjusted Trial Balance for March 31, 2019, summarizes the financial position. The document showcases the application of accounting principles within the Reckon software environment, highlighting the recording and tracking of financial data, including cash transactions, accounts payable and receivable, tax liabilities, and various expense and revenue items. The solution demonstrates the execution of appropriate entries and adjusting entries within the software to generate these financial reports. The assignment is part of the BSB110 Accounting course at QUT, focusing on decision-making in accounting and the use of accounting software.

Num Entered/Last Modified Last modified by State Date Name Description Account Split
Transactions entered or modified by n10344781Htin
Bill
05/09/2019 13:21:56 n10344781Htin Latest 3/31/2019 Brisbane Office Sup... Purchase of ... Accounts Payable -SPLIT-
Brisbane Office Sup... Office Equipment Accounts Pay...
Australian Taxation ... Cap. Acq. - I... Tax Payable Accounts Pay...
Bill
05/09/2019 13:25:34 n10344781Htin Latest 3/31/2019 Reliable Staff Staff Recruit... Accounts Payable -SPLIT-
Reliable Staff Staff Recruitment E... Accounts Pay...
Australian Taxation ... Non-Cap. Ac... Tax Payable Accounts Pay...
Bill Pmt -Cheque
05/09/2019 13:19:26 n10344781Htin Latest 3/31/2019 Bayside Accountants Opening bala... Cash at Bank Accounts Pay...
Bayside Accountants Accounts Payable Cash at Bank
Cheque 613
613 05/09/2019 13:12:04 n10344781Htin Latest 3/31/2019 Progressive Insuran... Prepaid Publi... Cash at Bank -SPLIT-
Progressive Insuran... Prepaid Insurance Cash at Bank
Australian Taxation ... Non-Cap. Ac... Tax Payable Cash at Bank
Cheque 615
615 05/09/2019 13:23:58 n10344781Htin Latest 3/31/2019 Cash Monthly Offic... Cash at Bank -SPLIT-
Cash Office Cleaning Exp... Cash at Bank
Australian Taxation ... Non-Cap. Ac... Tax Payable Cash at Bank
Deposit
05/09/2019 13:38:09 n10344781Htin Latest 3/31/2019 Deposit Cash at Bank Share Capital
Shareholder Share Capital Cash at Bank
Deposit
05/09/2019 13:39:43 n10344781Htin Latest 3/31/2019 Deposit Cash at Bank Loan Payable ...
Bank Loan Payable - Non... Cash at Bank
General Journal 12
12 05/09/2019 13:43:04 n10344781Htin Latest 3/31/2019 Office Equipment:L... Depreciation E...
Depreciation Exp - ... Office Equipm...
General Journal 13
13 05/09/2019 13:44:49 n10344781Htin Latest 3/31/2019 Prepaid Insurance Insurance Exp...
Insurance Expense Prepaid Insura...
General Journal 14
14 05/09/2019 13:45:54 n10344781Htin Latest 3/31/2019 Wages Payable Wages Expense
Wages Expense Wages Payable
General Journal 15
15 05/09/2019 13:46:46 n10344781Htin Latest 3/31/2019 Office Supplies Office Supplie...
Office Supplies Exp... Office Supplies
1:49 PM Socialise Media Pty Ltd
09/05/19 Audit Trail
Entered/Last Modified March 18 through May 9, 2019
Page 1

Num Entered/Last Modified Last modified by State Date Name Description Account Split
Payment
05/09/2019 13:15:25 n10344781Htin Latest 3/31/2019 Luxury Retailers Undeposited Funds Accounts rece...
Luxury Retailers Accounts receivables Undeposited F...
Payment
05/09/2019 13:18:42 n10344781Htin Latest 3/31/2019 Cash sale Undeposited Funds Accounts rece...
Cash sale Accounts receivables Undeposited F...
Tax Invoice SM548
SM548 05/09/2019 12:59:11 n10344781Htin Latest 3/31/2019 Style Properties Accounts receivables -SPLIT-
Style Properties Social Market... Service Revenue Accounts rece...
Australian Taxation ... 10% GST Tax Payable Accounts rece...
Tax Invoice SM549
SM549 05/09/2019 13:18:19 n10344781Htin Latest 3/31/2019 Cash sale Accounts receivables -SPLIT-
Cash sale Social Market... Service Revenue Accounts rece...
Australian Taxation ... 10% GST Tax Payable Accounts rece...
1:49 PM Socialise Media Pty Ltd
09/05/19 Audit Trail
Entered/Last Modified March 18 through May 9, 2019
Page 2

Amount
-880.00
800.00
80.00
-5,390.00
4,900.00
490.00
-2,170.00
2,170.00
-3,300.00
3,000.00
300.00
-880.00
800.00
80.00
25,000.00
-25,000.00
50,000.00
-50,000.00
-1,118.00
1,118.00
-1,000.00
1,000.00
-3,800.00
3,800.00
-1,600.00
1,600.00
1:49 PM Socialise Media Pty Ltd
09/05/19 Audit Trail
Entered/Last Modified March 18 through May 9, 2019
Page 3

Amount
2,000.00
-2,000.00
4,015.00
-4,015.00
13,750.00
-12,500.00
-1,250.00
4,015.00
-3,650.00
-365.00
1:49 PM Socialise Media Pty Ltd
09/05/19 Audit Trail
Entered/Last Modified March 18 through May 9, 2019
Page 4