MYOB Basic Qualification TestMYOB Accounting v19

MYOB Qualification Test

BASIC LEVEL

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__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________Code: L1JS13Effective from 1 December 2013

MYOB Qualification Test Level BasicInstructions to Participants:1. You will have 2 hours to complete the test. Answer all questions in the test.2. Please check that you have MYOB Accounting v19 on your computer. If you do not see it, please inform the invigilator for assistance.3. You are NOT allowed to bring any diskettes or paper into the examination room.4. You must create new folder on harddisk. Please save your .MYO, backup folder, and report folder in this folder and the folder will be collected from harddisk at the end of the examination.5. In the event of any unforseen circumstances e.g. electricity blackout or computer failure that prohibits you from continuing with the examination, and such event is not the cause of your own action (s), you will be allocated extra time to complete the examination at the discretion of the invigilator. (This is to ensure consistency with all the other instructions, which are expressed in the first person).6. If you should encounter any technical difficulties with the computer during the examination, please inform the invigilator for assistance.7. Non-programmable electronic calculators are allowed for this examination.8. You are not allowed to communicate with other examination candidates throughout the examination.9. You are NOT allowed to leave the examination room without the permission of the invigilator.10. The assignment and any used or unused paper, must be returned to the invigilator at the end of the examination.11. Total questions 13 with total score 100 points.

The Case StudyBased the fact given, you are required to: 1. Setup the company data file : [4 marks]

Mrs. Evira is the owner of the store Evira Jewellery. As Jewellery Store, Mrs. Evira buys and sells gold and silver to customer.

Mrs. Evira decided to use MYOB Accounting v19 accounting software for preparing his company 1 January to 31 December 2013 Financial Year Reports and prefer to use the 13th accounting period for the audit trial adjustment.

Please use one of the account list provided by MYOB Accounting v19. So you dont need to set up the account list completely.Setup the following information:The Company address: Jl. Kaliurang No.19 Sleman, YogyakartaTel: 0274-5707 07Fax : 0274-5707 08Email : info@evirajewellery.com The following preferences option must be activated: System Preferences:Tick the option for Warn if Jobs Are Not Assigned to All Transaction [System-Wide]

Windows Preferences:Untick option for Automatically Check Spelling in Text Fields Before Recording Transaction

Sales Preferences:Tick the option for : Warn for Duplicate Invoices Numbers on Recorded Sales

Purchases Preferences

Security Preferences:

:Tick the option for : Warn for Purchase Orders Numbers on Recorded PurchasesClick User IDs to add new User ID as your Name.

2. Log-off (exit) from MYOB no backup is required., and then login to MYOB data file created with your user nameSetup the List below: [8 marks]Setup the following Account List The Company dont use the following account codes anymore : 1-2120 Payroll Cheque Account 1-2130 Cash Drawer 1-2210 Less Provn for Doubtful Debts The Company changes some accounts as follows : 1-2140 Petty Cash, Change to 1-2120 1-2160 Undeposited Funds, Change to 1-2130 Undeposited Cheque The Company need to add the following accounts : Account #AccountTypeHeader/DetailLevel

2-2340GST ClearingOther LiabilityDetail4

Setup the Tax Code List as GST (Goods & Services Tax), Tax Type: Goods & Services Tax, Rate: 10%

Setup the Job List as GD for Gold, DM for Diamond and SV for Service.

Setup the Category List as YGK for Yogyakarta, BDG for Bandung and SBY for Surabaya.

Setup the Items List as follows: Item No.NLLDCKAW

DescriptionNeil LaneLeo DiamondCalvin KleinAmanda Wakeley

Selling PriceRp5.750.000Rp9.000.000Rp6.500.000Rp5.750.000

Tax Code When Bought/SoldN-TN-TN-TN-T

Selling Unit of MeasureUnitUnitUnitUnit

I Buy This Item5-1100 Jewellery Purchase5-1100 Jewellery Purchase5-1100 Jewellery Purchase5-1100 Jewellery Purchase

I Sell This Item4-1100 Jewellery Sales4-1100 Jewellery Sales4-1100 Jewellery Sales4-1100 Jewellery Sales

I Inventory This Item1-2300 Merchandise Inventory1-2300 Merchandise Inventory1-2300 Merchandise Inventory1-2300 Merchandise Inventory

Setup the following Cards List: DIAMOND STAR (Customer) KEYNIA JEWELLERY (Supplier) ROSE (Employee)

ERNEST COLLECTION (Customer) OLIVE COLLECTION (Supplier) JULIA (Employee)

UNIQUE SILVER (Customer) SAPPHIRE SILVER (Supplier)

3. Setup Account Opening Balance Sheet information as of 01 January 2013:[8 marks]

Setup the following ending balance as 31 Dec 2012: Customer NameDIAMOND STARERNEST COLLECTIONUNIQUE SILVER

TotalRp3.300.000 Inc. GSTRp4.400.000 Inc. GSTRp2.200,000 Inc. GST

Invoice#S-120001S-120002S-120003

Cust. PO#DS-120001EC-120001US-120001

CategoryYGKBDGSBY

Supplier NameKEYNIA JEWELLERYOLIVE COLLECTIONSAPPHIRE SILVER

TotalRp4.400.000 Inc. GSTRp2.200.000 Inc. GSTRp2.200.000 Inc. GST

PO#P-120001P-120002P-120003

Supp. Inv#KJ-120001OC-120001SS-120001

CategoryYGKBDGSBY

Setup the following inventory opening balance as 01 January 2013 [Journal #: I-130001] [Category: YGK]: Item No.QtyUnit Cost

AW8 unitsRp 5.400.000

CK12 unitsRp 5.200.000

LD9 unitsRp 7.200.000

NL10 unitsRp 4.600.000

4. The following transactions are made in January 2013. Record these transactions in MYOB according to the dates and details given below.

02Jan2013A purchase was raised to purchase the following inventory item from main supplier, SAPPHIRE SILVER, with Net 30 after EOM credit terms. (PO#:P-130001, Supplier Inv#: SS-130001) Received 4 units Leo Diamond (LD) for Rp7.200.000/unit (Exclude 10% GST) each. With backorder 1 units of LD. [Job: DM] Received 3 units Amanda Wekeley (AW) for Rp5.400.000/unit (Exclude 10% GST). [Job: GD] [Category: SBY]

POINT[4 marks]

03Jan2013A bill was received from OLIVE COLLECTION for Advertising (Acc# 6-3100) on amount Rp2.200.000 (Include GST 10%) on COD terms. (PO#: P-130002, Supplier Inv#: OC-130001) [Job: SV] [Category : BDG]

Payment to OLIVE COLLECTION from Cheque Account [Cheque No: D-130001] with total amount Rp3.200.000 for bill on 31 Dec 2012 with amount Rp1.000.000 and bill on 3 Jan 2013 with amount Rp2.200.000.

POINT[4 marks]

[4 marks]

04Jan2013Return 1 of Leo Diamond (LD) for Rp7.200.000 (Exclude 10% GST) to SAPPHIRE SILVER, (PO#: P-130003, Supplier Inv#: SS-130001). Edit Journal Memo with Purchase Return; SAPPHIRE SILVER. [Category: SBY]

Immediately applied the Return-Debit note to Trade Creditor balance for, SAPPHIRE SILVER [ID#: P-130003] for bill on 2 Jan 2013.

POINT[2 marks]

[2 marks]

15Jan2013

Sold the following items to ERNEST COLLECTION on Net 10 days terms (Inv#: S-130001, Cust PO#: EC-130001). All the goods & Invoice was Received : Ship 7 units of Amanda Wekeley (AW) Rp5.750.000/unit (Exclude 10% GST) [Job : GD] Ship 5 units of Calvin Klein (CK) Rp6.500.000 /unit (Exclude 10% GST) [Job: GD] [Category: BDG] [Salesperson: JULIA]

POINT[4 marks]

16Jan2013Sold 4 unit Neil Lane (NL) Rp6.325.000 (Include 10% GST) to DIAMOND STAR on Net 20th terms (Inv#: S-130002, Cust PO#: DS-130001). All the goods & Invoice was received. [Job: DM][Category: YGK] [Salesperson: ROSE]

POINT[4 marks]

17 Jan 2013Raised sale services for Rings Reparation to UNIQUE SILVER as Repairs (Acc# 4-1300) for Rp770.000 (Include 10% GST) on COD terms (Inv#: S-130003, Cust PO#:US-130001). Invoice was delivered. [Job: SV] [Salesperson: JULIA] [Category: SBY].

Full payment of Rp770.000 for invoice on 17 Jan 2013 was received from UNIQUE SILVER and deposits to Petty Cash [ID#: R-130001].

[2 marks]

[2 marks]

18Jan2013

Issued Discount-Credit Notes to UNIQUE SILVER Rp70.000 as Discount Given (Acc# 5-3000) (Inv#: S-130004, Cust PO#: US-130001) and edit Journal Memo with Sale DISCOUNT: UNIQUE SILVER. [Category: SBY] [Salesperson: JULIA]

Immediately Pay Refund [Cheque No: D-130002] for the Rp70.000 Discount-Credit notes to UNIQUE SILVER from the Petty Cash.

POINT[2 marks]

[2 marks]

20Jan2013Use Spend Money, transfer Rp3.000.000 to Cheque Account from Petty Cash and pay Rp10.000 as Bank Charges. [Cheque No#: D-130003] [Category: YGK]

POINT[4 marks]

Receive Money for total Rp250.000 to Cheque Account, for Rp260.000 as Interest Income with Rp10.000 Bank Charges [ID#: R-130002] [Category: YGK]

[4 marks]

5. Perform Bank Reconciliation for the month of Jan 2013 for Cheque Account the Bank statement shows a balance of Rp500.050.000 on 31 Jan 2013.

[4 marks]

6. In addition to the transaction above, prepare a journal entry to record the Depreciation on 31 Jan 2013, for the following asset categories [GJ#:G-130001] [Category: YGK]: Bldgs & Imprv Rp100.000Save as Monthly Recurring Transaction start from 28 Feb 2013 for those journal then use the recurring and record depreciation journal for 28 Feb 2013 [GJ#: G-130003] [Category: YGK]

Prepare a journal entry to record the GST Clearing journal on 31 Jan 2013 [GJ#: G-130002] for Dec 2012 balance. [Category: YGK]

[2 marks]

[2 marks]

7. On 31 Jan 2013, prepare adjust inventory to record Inventory Total Unit Cost Adjustment [IJ#: I-130002] [Category : YGK] for: Calvin Klein (CK) increased by Rp210.000 as 5-1100 Jewellery Purchase [Job: DM]. Neil Lane (NL) decreased by Rp120.000 as 5-1100 Jewellery Purchase [Job: DM].

[4 marks]

8. Generate the following financial reports at 1 January 31 January 2013 to PDF file format, save in REPORTS folder :

General Ledger [Summary] Standard Balance Sheet Profit & Loss [Accrual] GST [Detail Accrual] Receivables Reconciliation [Summary] Payables Reconciliation [Summary] Bank Register Reconciliation Report

[4 marks]

9. From Security Preference, activate the option for Use Audit Trail Tracking, then Lock the Accounting period for 31 Jan 2013. BACKUP your MYOB Company Data File (ONLY), Check Company File for Error and Save the MYOB company data backup file name as Your name in Backup folder.

[4 marks]

10. From Company Data Auditor Transaction Review for 1 Jan 2013 to 31 Jan 2013, there is a ? mark for Scan for Future Dated Transaction. Display it and send to PDF, save in REPORTS folder and than delete that future date transaction. [4 marks]

11. Edit payment from UNIQUE SILVER on 17 Jan 2013 to split payment for total amount Rp770.000 deposit to Petty Cash for invoice on 31 Dec 2012 with amount Rp500.000 and for invoice on 17 Jan 2013 with amount Rp270.000. Keep the Cheque No. record as R-130001.

[4 marks]

12. Delete all related transaction on 4 Jan 2013.

[4 marks]

13.Generate and modify the Inventory Value Reconciliation report like the sample below and then save as PDF Format.[4 marks]

~ End of Assignment ~

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