Clover Cellars: An Accounting Practice Set Using MYOB Accounting Plus v.14

Overview of ‘Clover Cellars’ .......... 1

Accounting Introduction .......... 1

Source Documents .......... 3

Bank Statement .......... 18

Manual Section .......... 19

Accounting Procedures .......... 21

The Accounting Period .......... 22

Accounting Process .......... 22

‘Clover Cellars’ Accounting Information .......... 23

Requirements .......... 27

Chart of Accounts .......... 29

Sales Journal .......... 30

Purchases Journal .......... 30

Cash Receipts Journal .......... 31

Cash Payments Journal .......... 32

General Journal .......... 34

Petty Cash Book .......... 37

Accounts Receivable Subsidiary Ledger Accounts .......... 38

Schedule of Accounts Receivable .......... 39

Accounts Payable Subsidiary Ledger Accounts .......... 40

Schedule of Accounts Payable .......... 41

Inventory Cards .......... 42

Cost of Goods Sold Record Cards .......... 44

Schedule of Inventory .......... 45

General Ledger Accounts .......... 46

Bank Reconciliation .......... 58

Worksheet .......... 59

Statement of Financial Performance .......... 61

Statement of Financial Position .......... 62

Computerised Section .......... 63

Accounting Procedures and Installing the Software .......... 64

The Accounting Period .......... 69

Accounting Process .......... 70

‘Clover Cellars’ Accounting Information .......... 70

Credit Purchases .......... 84

Credit Sales .......... 89

Cheque/EFT Payments .......... 92

Petty Cash .......... 95

Inventory Purchases .......... 96

Cash Sales .......... 100

Make Deposits .......... 104

Pay Creditors .......... 107

Bank Reconciliation .......... 110

Journal Entries .......... 112

Reports .......... 113