MYOB v18 ASSIGNMENT 3 – PURCHASES
“GETTING’ DIRTY”
Note:
Prior to attempting this assignment, you must have completed Chapter 4 (Purchases)
from your Gourlay and Flanders text.
This assignment involves the following tasks:
•
•
•
•
•
•
•
•
Opening an existing data file
Creating supplier cards
Entering historical purchases
Creating inventory items for purchase
Creating purchase orders
Recording cash and credit purchases, returns and adjustments
Recording supplier payments, and refunds from suppliers
Printing required reports
Gettin’ Dirty is an agricultural business operating on the Mornington Peninsula, south
of Melbourne, Victoria. It carries out a range of works including soil testing, earth
moving, soil preparation and fertilisation, watering and irrigation, slashing, and
occasional harvesting.
All agricultural materials and supplies are created as items of inventory. Accordingly,
all purchases of materials and supplies use the ‘item’ layout. If capital items (such as
equipment or vehicles) are purchased, the ‘service’ layout is to be used.
Purchase orders are placed a few days or a week before materials and supplies are
required. Similarly, purchase orders are also placed for capital items. These orders
will then be retrieved as required and converted into purchase invoices (bills) for
actual purchases.
Purchase returns (for materials and supplies) will also utilise the ‘item’ layout,
whereas any purchase allowances or adjustments not involving a movement of items
will require a ‘service’ layout. Just as all purchase invoices (except cash purchases)
are initially recorded as orders, so, too, are purchase returns, allowances and
adjustments.
Supplier payments are made infrequently, and prompt payment discounts are
therefore not always taken when offered. Gettin’ Dirty processes such payments
using the Pay Bills function.
Instead of creating a new data file for Gettin’ Dirty, you will open an existing
‘QuickStart’ data file specially created for this assignment. The data file has already
undergone the required Accounts List editing, and opening account balances have
been recorded for your convenience. See instructions over page.
MYOBv18 Assignment 3 2009
Page 3.1
Preparing your ‘QuickStart’ data file for use
1. Place the CD with your ‘QuickStart’ data files in your computer.
2. View the contents of the CD using My Computer (or Windows Explorer), and then
open the QuickStart folder.
3. Select the file called Dirty, and then copy it to the hard drive of your computer in
the MYOB Data folder (or another folder of your choice).
4. Next, open the MYOB Data folder (or whatever folder now contains the ‘Dirty’ file)
from your computer’s hard drive, and then ‘rename’ the file as Dirty – Your Own
Name.
5. Now right-click on Dirty – Your Own Name, select ‘Properties’, make sure the
‘Read-only’ property is ‘checked off’, and then close My Computer (or Windows
Explorer).
Your QuickStart data file is now ready for use.
Opening an existing data file
6. Start MYOB Accounting Plus, and then open the Dirty – Your Own Name data file
from the appropriate folder on your hard drive.
Editing Company Information
7. Select Setup from the menu bar, click on Company Information, and then
change the Company Name to Gettin’ Dirty – Your Own Name.
Using the Easy Setup Assistant
8. From the MYOB Command Centre window, click on Setup (from the menu bar),
and then on Easy Setup Assistant.
9. When the Easy Setup Assistant window opens, click on the Purchases button to
open the Purchases assistant.
Cont’d over page…
MYOBv18 Assignment 3 2009
Page 3.2
Using the Purchases assistant
10. Select Item as the default purchase layout.
11. Enter 10000 as the typical Credit Limit.
12. Specify the following default supplier payment information:
Supplier Payment Information
Payment is Due
Discount Days
Balance Due Days
% Discount for Early Payment
In a Given # of Days
0
30
0%
Creating supplier cards
13. Create the suppliers’ cards using the details given below.
Profile page
Name
Address
City
State
Postcode
Phone#1
Buying Details page
Credit Limit
A.B.N.
Supplier Terms Information
Payment is Due
Discount Days
Balance Due Days
% Discount for Early Payment
Supplier 1
Strictly Cash
7 Queens Road
Pearcedale
VIC
3912
9776 7177
Supplier 2
Selkrapp Fertilisers
2 Mudford Street
Pearcedale
VIC
3912
9776 3120
$0.00
36708123954
$10,000.00
72894375621
C.O.D.
0
0
0%
In a Given # of Days
0
30
0%
Profile page
Name
Address
City
State
Postcode
Phone#1
Buying Details page
Credit Limit
A.B.N.
Supplier Terms Information
Payment is Due
Discount Days
Balance Due Days
% Discount for Early Payment
Supplier 3
Grotty Garden Supplies
15 Compost Court
Tyabb
VIC
3913
9774 1395
Supplier 4
Ephin Farm Equipment
26 Plough Place
Bittern
VIC
3918
9772 8093
$15,000.00
87920814367
$10,000.00
59012345923
In a Given # of Days
0
30
0%
In a Given # of Days
0
30
0%
MYOBv18 Assignment 3 2009
Page 3.3
Entering Historical Purchases
14. Record the historical purchases using the information supplied in the table below:
Supplier Name
PO #
Date
Supplier Inv #
Memo
Total Including Tax
Tax Code
Tax
Selkrapp Fertilisers
46
27/11/2010
5198
Pre-conversion purchase
$845.00
GST
$76.82
Grotty Garden Supplies
49
29/11/2010
0982
Pre-conversion purchase
$4,138.00
GST
$376.18
Creating inventory items through Items List
15. Create all of the following inventory items using Items List from the Inventory
Command Centre.
Profile page
Item Number
Name
I Buy This Item
Expense Account for Tracking Costs
Buying Details page
Buying Unit of Measure
Tax Code When Bought
Profile page
Item Number
Name
I Buy This Item
Expense Account for Tracking Costs
Buying Details page
Buying Unit of Measure
Tax Code When Bought
Profile page
Item Number
Name
I Buy This Item
Expense Account for Tracking Costs
Buying Details page
Buying Unit of Measure
Tax Code When Bought
F
Onthenose Fertiliser
D
5-2000
S
Drut Soil Conditioner
D
5-2000
Kg
GST
Kg
GST
P
Plackypipe
D
5-2000
I
Irrigation Fittings
D
5-2000
Metre
GST
Box
GST
C
Soaking Control Units
D
5-2000
H
Sprinkler Heads
D
5-2000
Each
GST
Dozen
GST
Cont’d over page…
MYOBv18 Assignment 3 2009
Page 3.4
Printing reports at ‘conversion’
The following reports are to be printed on December 1, 2010:
Purchases page tab
Payables Ageing Detail
Ageing Date = 1/12/2010
Card page tab
Card List Detail
Card Type = All
16. Print the above reports now.
Recording purchases and payables transactions
Consider the following general points when recording transactions for Gettin’ Dirty:
•
The transactions for December 2010 are contained in a series of tables
commencing with Item purchase orders on page 3.6 and finishing with
Supplier Payments on page 3.8.
•
You are to enter all transactions in strict date order, regardless of which table
they are located in. For example, the first transaction to be recorded is the
Supplier Payment (on page 3.8) using cheque number 141, and dated
1/12/2010. The second transaction to be recorded is another Supplier
Payment (cheque number 142) on the same date. The third transaction is an
Item purchase order (on page 3.6) dated 2/12/2010…and so on.
•
To assist you in recording transactions in that date order, all transactions have
been numbered in a Trans. No. column from number 1 to 26. Be sure to
follow the exact transaction order as specified by these numbers. You are
strongly advised to tick off each transaction as it has been recorded.
•
While a separate table is devoted to each transaction type, you will sometimes
require additional information to enable a transaction to be recorded correctly.
Before you record transactions from any table, be sure to read any additional
notes that follow.
•
Purchase orders are created for all non-cash purchases, returns and
adjustments.
•
Prices shown on orders/invoices/credit notes are always tax inclusive.
Cont’d over page…
MYOBv18 Assignment 3 2009
Page 3.5
Item purchase orders
Trans. Supplier Purchase
No.
#
3
Selkrapp
51
Date
2/12/2010
4
Grotty
52
5/12/2010
6
8
Selkrapp
Grotty
53
54
7/12/2010
9/12/2010
9
17
Selkrapp
Grotty
55 11/12/2010
59 22/12/2010
Supplier Order Item Price Freight
Tax
Total
Inv#
No.
Amount
30
F
$2.50
100
S
$2.20 $20.00 $28.64
$315.00
500
P
$1.25
4
I $24.00
1
C $375.00
2
H $65.00 $25.00 $113.73 $1,251.00
180
F
$2.50 $20.00 $42.73
$470.00
70
P
$1.25
1
I $24.00 $25.00 $12.41
$136.50
220
S
$2.30 $22.00 $48.00
$528.00
130
P
$1.30
2
I $25.95 $25.00 $22.35
$245.90
Note:
Use the default Journal Memo shown in the Purchases – New Item window.
Service purchase orders
Trans. Supplier Purchase
Date
Supplier Description Acct# Amount Freight Tax
Total
No.
#
Inv#
Amount
10
Plough discs 1-3110 $450.00
$0.00 $40.91 $450.00
Ephin
56 13/12/2010
18
Rotary hoe 1-3110 $795.00 $35.00 $75.45 $830.00
Ephin
60 23/12/2010
Note:
When purchasing a non-current asset (see purchase orders # 56 and # 60), the
appropriate tax code for both the purchase price and freight (where applicable) is
CAP (Capital Acquisitions).
Item purchase bills
Trans. Supplier From Purch
No.
Order
#
#
5
Selkrapp
51
51
Date
Supplier Bill Back Item
Inv#
No.
6/12/2010
5212
7
Grotty
52
52
8/12/2010
0997
11
13
15
16
Grotty
Strictly
Selkrapp
Grotty
52
57
58
53
54
14/12/2010
17/12/2010
18/12/2010
20/12/2010
1040
726
5220
1075
19
22
24
Selkrapp
Strictly
Grotty
55 24/12/2010
61 26/12/2010
59 29/12/2010
5267
777
1150
53
54
55
59
30
100
500
4
0
2
1
2
180
30
1
220
2
170
2
0
0
0
0
1
0
0
0
0
40
0
0
1
0
0
F
S
P
I
C
H
C
C
F
P
I
S
C
P
I
Price
$2.50
$2.20
$1.25
$24.00
$375.00
$65.00
$375.00
$320.00
$2.50
$1.30
$24.00
$2.30
$315.00
$1.30
$25.95
Freight
Tax
$20.00 $28.64 $315.00
$25.00
$0.00
$0.00
$20.00
$79.64
$34.09
$58.18
$42.73
$876.00
$375.00
$640.00
$470.00
$25.00 $8.00 $88.00
$22.00 $48.00 $528.00
$0.00 $57.27 $630.00
$25.00 $27.08 $297.90
Notes:
A reminder - details given for purchase bills may differ from those shown in
purchase orders. Again, you must assume all information given is correct.
MYOBv18 Assignment 3 2009
Total
Amount
Page 3.6
Notes (cont’d):
All purchases made from Strictly Cash (# 58 and # 61) are cash purchases. Cash
purchase # 58 used cheque number 143, and # 61 used cheque number 146.
For cash purchase transactions, you should enter the Total Amount of your
transaction in the Paid Today box.
Normally, purchase orders are not raised for cash purchases. However, purchase
order # 61 was created automatically as a result of the ‘backorder’ on (cash)
purchase invoice # 61.
Service purchase bills
Trans. Supplier
No.
12
20
Ephin
Ephin
From
Purch
Date
Supplier Description Acct# Amount Freight Tax
Total
Order
#
Inv#
Amount
#
56
56 16/12/2010
129 Plough discs 1-3110 $450.00 $50.00 $45.45 $500.00
60
60 25/12/2010
153 Rotary hoe
1-3110 $795.00 $35.00 $75.45 $830.00
Note:
The tax code for the purchase price of a non-current asset is CAP. Any freight
associated with these purchases will also use the CAP code.
Item purchase returns (bills)
Trans. Supplier From Purch
Date
Supplier
No.
Order #
#
Inv#
62 27/12/2010
A780
23 Strictly
Bill
Back Item
Price Freight
Tax
Total
No.
Amount
-1
0
C $315.00
$0.00 -$28.64 -$315.00
Notes:
For purchase (return) # 62, use the Journal Memo Purchase Return; Strictly
Cash.
Purchase # 62 (purchase return from a cash purchase) would usually be settled
against the original purchase # 61. This is not possible because purchase # 61
has already been paid in full using cheque number 146. You will, instead, use a
supplier ‘refund’ to ‘settle’ this debit.
From the Purchases Register, you would open the Returns and Debits window,
and then select the Receive Refund button. Next, in the Settle Returns & Debits
window choose the option to Deposit to Account, use the default ID #, and then
enter the Date as 27/12/2010. The Memo should read Strictly Cash; Cash
Refund – Debit from…
Cont’d over page…
MYOBv18 Assignment 3 2009
Page 3.7
Supplier payments
Trans.
No.
1
2
14
Supplier
Date
Amount
Selkrapp
Grotty
Selkrapp
Cheque
No.
141
142
144
1/12/2010
1/12/2010
17/12/2010
$845.00
$4,138.00
$315.00
21
Grotty
145
25/12/2010
$1,251.00
25
26
Selkrapp
Grotty
147
148
29/12/2010
31/12/2010
$470.00
$88.00
Payment for purchase #
46
49
51
52
57
53
54 (Bill, not Order)
$876.00
$375.00
Note:
Cheque numbers 143 and 146 resulted from cash purchase transactions.
17. Record all of the above transactions in correct date order, paying close attention
to the general instructions as well as those accompanying each table.
Printing end of month reports (Part 1)
The following report is required:
Purchases page tab
Supplier Purchases Summary
Purchase Status = Orders;
Dated From: 1/12/2010 To: 31/12/2010
18. Print the report specified above.
Deleting a purchase order
The 40 metres of Plackypipe currently on outstanding purchase order # 54 were
delivered as part of the 170 metres shown on purchase # 59. Accordingly, this item is
no longer required, and purchase order # 54 should now be deleted.
19. Delete purchase order # 54.
Printing end of month reports (Part 2)
20. Print the reports specified below:
Purchases page tab
Payables Ageing Summary
Ageing Date = 31/12/2010
Purchases & Payables Journal
Source Journal = Purchases
From: 1/12/2010 To: 31/12/2010
Cont’d over page…
MYOBv18 Assignment 3 2009
Page 3.8
Purchases & Payables Journal
Source Journal = Disbursements
From: 1/12/2010 To: 31/12/2010
Purchases & Payables Journal
Source Journal = Receipts
From: 1/12/2010 To: 31/12/2010
Supplier Purchases Detail
Purchase Status = Orders
From: 1/12/2010 To: 31/12/2010
Inventory page tab
Items List Detail
; Include Zero Quantities
Exiting MYOB Accounting Plus
21. Close the data file and exit MYOB Accounting Plus.
22. To assist in the process of checking and correctly sequencing your reports,
complete the Checklist of Printouts below.
Checklist of Printouts
No.
1
2
3
4
5
6
7
8
9
Description of Printout
Payables Ageing Detail – Ageing Date = 1/12/2010
Card List Detail – Card Type = All
Supplier Purchases Summary – Purchase Status = Orders;
Dated From: 1/12/2010 To: 31/12/2010
Payables Ageing Summary – Ageing Date = 31/12/2010
Purchases & Payables Journal – Purchases;
From: 1/12/2010 To: 31/12/2010
Purchases & Payables Journal – Disbursements;
From: 1/12/2010 To: 31/12/2010
Purchases & Payables Journal – Receipts;
From: 1/12/2010 To: 31/12/2010
Supplier Purchases Detail - Purchase Status = Orders;
Dated From: 1/12/2010 To: 31/12/2010
Items List Detail – Include Zero Quantities
Attached 3
23. Submit your printouts (in the correct order) for assessment. Any printouts
submitted out of sequence will incur a loss of marks.
Congratulations! Assignment 3 is now complete.
MYOBv18 Assignment 3 2009
Page 3.9