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.

Learning outcomes

  • 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 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

The following textbook is required for this course:

  1. Purbhoo, M. (2021). Using Sage 50 Accounting 2020 + Student Version Software (5th ed.) Pearson Canada.
    Type: Textbook ISBN: 9780136746522

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. Students will receive the necessary contact information at the start of your course.

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