ACCT 2281: Accounting Software Systems
Students learn to maintain the financial records of a small business using Sage 50 and other business management software. Topics include an introduction to Sage 50; general ledger; accounts payable; accounts receivable; payables and receivables setup; payroll journal and setup; inventory transactions; orders, quotes and deposits; currency and remittances; bank reconciliations and deposits; and a comprehensive setup.
Learning outcomes
- Analyze a company’s financial system requirements and configure a chart of accounts.
- Identify transaction types, analyze source documents and process accounting entries.
- Record accounts payable and accounts receivable transactions and analyze reports.
- Process payroll transactions and generate payroll-related reports.
- Define inventory valuation methods, set up product inventories and record inventory adjustments.
- Recognize the differences between customer quotes, sale orders and sales invoices.
- Determine accounting system needs in a multi-currency environment, set up foreign currency accounts and process transactions in multiple currencies.
- Implement internal control procedures including bank reconciliations.
- Complete year-end closing procedures.
Course topics
- Lesson 1: Introduction, Indirect Taxes, and General Journal
- Lesson 2: Accounts Payable
- Lesson 3: Accounts Receivable
- Lesson 4: Company Setup, Payables, and Receivables Setup
- Lesson 5: Payroll Journal and Payroll Ledger Setup
- Lesson 6: Assignment 1: Comprehensive Setup
- Lesson 7: Inventory Transactions
- Lesson 8: Orders, Quotes, Prepayments, and Deposits
- Lesson 9: Credit Cards, Currencies, and Remittances
- Lesson 10: Project Allocations
- Lesson 11: Reconciliations and Deposits
- Lesson 12: Assignment 2 and Final Project: Comprehensive Setup
Required text and materials
Students require the following e-textbook, which can be purchased directly from the link at: https://tru-store.vitalsource.com/products/using-sage-50-accounting-2024-mary-purbhoo-v9780138299712
- Purbhoo, M. (2024). Using Sage 50 Accounting 2024 + Student Version Software. Pearson Canada.
Type: E-Textbook. ISBN: 9780138299712 / 9780138299668
Note: Sage 50 is only compatible with Windows 7 and higher operating systems. Sage currently does not provide a Sage 50 version for the Mac platform.
Assessments
To successfully complete this course, students must achieve a passing grade of 50 % or higher on the overall course, and 50% or higher on the final mandatory project.
| Quiz 1: Lessons 1‒3 | 10% |
| Assignment 1: Stratford Country Inn | 15% |
| Quiz 2: Lessons 1‒8 | 10% |
| Quiz 3: Lessons 1‒11 | 10% |
| Assignment 2: VeloCity | 20% |
| Reflective Journal | 10% |
| Mandatory Final Project | 25% |
| Total | 100% |
Open Learning Faculty Member Information
An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of the course.
