LAB TEST

MYOB (5%)

INSTRUCTIONS

1. Form a group of two to three (2 - 3) members.

2. You are required to do a simulation project using MYOB.
3. The transactions must be typed out and submitted later together with the reports.
4. Give a name to your company and select the conversion month, financial year end.
5. Set up an account list as at the Study Guide. You may add other accounts (where
necessary)
6. Create at least two (2) items list, three (3) details of supplier list and two (2) details of
customers list.
7. Create related transactions to bank. At least 3 payments for other expenses, 2 receipts.
8. Create related transactions to purchases. At least 2 invoices, 1 return and 1 payment.
9. Create related transactions to sales. At least 2 invoices, 1 return and 1 receipt.
10. Generate the bank reconciliation for one month.
11. Generate the related reports.

i) Account List Detail (starting month and ending month)

ii) Item List Detail
iii) Sales and Receivables Journal
iv) Cash Receipts
v) Cash Disbursement
vi) Purchases and Payables Journal
vii) Income Statement (Accrual)
viii) Balance Sheet

12. Submit your reports in a flash drive or upload it into i-learn portal at the end of the
session.

AIS205/OCT2019 AC1103A4_SSM