ACCT 2281: Accounting Software Systems

Students learn to maintain the financial records of a small business using an accounting software package. Topics include an introduction; accounts payable; accounts receivable; payables and receivables setup; payroll journal and setup; inventory transactions; orders, quotes and deposits; currencies and remittances; project allocations; reconciliations and deposits; and comprehensive setup.

Objectives

  • Analyze source documents and identify transaction types
  • Analyze various journals and statements to reconcile data
  • Navigate in Sage 50 Accounting (enter and modify transactions, run reports, set-up and process receivables, payables, payroll)
  • Save, backup and restore Sage 50 Accounting data files
  • Create and configure company chart of accounts in a diverse group business situations
  • Identify and enter specific company data
  • Perform account reconciliations on a variety of accounts
  • Set-up of product inventories and processing of sales and purchases of inventory using weighted averages
  • Set-up and use of project accounting
  • Enter new employee data and process payroll, including year-end documents
  • Set-up multi-currency bank accounts and process transactions
  • Maintain data integrity and internal control procedures
  • Perform standard year-end procedures

Course outline

  • 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: 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 will receive the following:

Purbhoo, M. (2019). Using Sage 50 Accounting 2018 + Student Version Software. Toronto: Pearson Canada.
ISBN: 978-0-13-485968-2
Type: Textbook ISBN: 978-0-13-485968-2

Note: The above textbook is provided to students as a bundle with an access kit to the companion website: Bundle ISBN: 978-0-13-522116-7

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.

Assignment 1: Stratford Country Inn 15%
Assignment 2: VeloCity 20%
Quiz 1 10%
Quiz 2 10%
Quiz 3 10%
Reflective Journal 10%
Final Project (Mandatory) 25%
Total 100%

Open Learning Faculty Member

An Open Learning Faculty Member is available to assist students throughout the course. Primary Information communication is through the Learning Environment's "Mail" tool or by phone. Students will receive the necessary contact information at the start of the course.

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