Feb 26 2019

Feb 26 2019

SENECA COLLEGE OF APPLIED ARTS AND TECHNOLOGY

FACULTY OF CONTINUING EDUCATION & TRAINING
DEPARTMENT OF BUSINESS STUDIES

SYSTEMS STUDIES II (SMS315)

ASSIGNMENT I – VER 2018

Marks: 10% of final grade

Instruction:

Please submit the questions and your answers via email. Use font size 12 (Each question is 1
Mark – Total 10 Marks)

Chapter 1

1. List (in detailed point form) the steps to setup your databases for the company
“CHALLENGE INC.” (1 Mark)
 Run Sage
 Click on Database Setup
 Sign in (default password is “admin”).
 Click OK or Enter
 Create the system database (SYS)
o Click on New…
o Type OMNSYS in the Database ID field and [Tab]
o Accept Microsoft SQL server the Database Format field
o Click on the System radio button
o Click OK
o In the Edit SQL Server Database profile window enter the name of the
computer that has Microsoft SQL Server
o Enter preferred credentials in Login ID and Password fields.
o Enter OMNSYS in the Database field.
o Click OK
 Create the company database (DAT)
o Click on New…
o Type OMNDAT in the Database ID field and [Tab]
o Accept Microsoft SQL server the Database Format field
o Click on the System radio button
o Click OK
o In the Edit SQL Server Database profile window enter the name of the
computer that has Microsoft SQL Server

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o Enter preferred credentials in Login ID and Password fields.

o Enter OMNDAT in the Database field.
o Click OK
o Click the Exit button
Chapter 2

2. List the steps (in detailed point form) to setup the Structure code for the chart of accounts
which uses ACC as the ACCOUNT STRUCTURE and DIV as the DIVISION
STRUCTURE. (1 Mark)
 Double click the Account Structures icon in the G/L set up folder
 Type ACC in the Structure Code filed and pres [TAB]
 Type Account in the Description field and press [TAB]
 Leave the Use As Company Default Structure box blank
 Highlight Account
 Click on the Include button
 Click Add
 Click the New Icon beside the Structure Code field
 Type DIV in the Structure Code field and press [TAB]
 Leave the Use As Company Default Structure box blank
 Highlight Account
 Click on the Include button
 Highlight Division
 Click on the Include Button
 Click Add
 Click Close to exit.
Chapter 3

 A) The Retained Earnings account is the account type Shareholder’s

Equity

B) List the steps (in detailed point form) to set the Retained Earnings as the default
closing account?
 Double click on the options icon in the G/L Setup Folder
 Click on the Account tab
 Click on the finder
 Double click on Account #### Retained Earnings
 Click Save
 Click Close
(1 Mark)

Chapter 4

3. List the steps (in detailed point form) to create a new year. (1 Mark)

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 Double click on the Create New Year icon in the G/L Periodic processing
folder
 Click on the Process buton
 Click close

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4. A. How do you delete a line in a journal entry?

Highlight the line to be deleted and press [DELETE] on the keyboard. Confirm.
B. How do you delete an entire entry?
Click on the delete button on the bottom of the screen. Confirm in prompt.

(1 Mark)

Chapter 6

5. List the steps in detailed point form to enter a batch of transactions. (2 marks)
 Double click on the journal entry icon in the G/L Transaction folder
 Click on the new icon beside the batch field
 Type the batch description and press [TAB]
 Press [TAB] to accept number 1
 Type the Entry description and press [TAB]
 Type the calendar date and press [TAB]
 Press [TAB] to accept the Year/Period field
 Click on the finder to select the source code
 Select Quick as the entry mode and press [TAB]
 Press [TAB] to bypass the Auto Reverse option
 Type the entries starting from line # 1 using the appropriate credit and debit
entries
 Repeat steps above to do the next journal entries in the same batch,
remembering to click the Add button after each entry

A) If an Error Batch is shown in your Batch Listing window after posting your batch of
entries, which report should you print to view the posting errors?
The Posting journal Errors report
B) Should this batch be deleted?
If not posted it can be deleted or edited
(1 Mark)

Chapter 9

6. Describe in detail Tax Classes (1 Mark)

Profiles of tax authorities, rates, for that are assigned to vendors to calculate the
appropriate taxes for sales and purchases on vendor and customer invoices
7. List to steps to add the Tax Authority, HST (Harmonized Sales Tax) (1 Mark)
 Click on the Tax Authorities icon in the Tax Services folder
 In the Tax Authority field type in a unique code of less than 12 characters to
identify the Tax Authority.

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 In the Description field, enter the name of the tax authority

 In the Report Tax on Retainage Document select whether and when to
report tax on retainage documents.
 In the Maximum Tax Allowable enter (if different from default) the maximum
amount that can be charged on invoices for the tax authority.
 In the No Tax Charged Below enter the minimum amount of tax charged by
the tax authority if any
 In the Tax Base field, enter the base on which the sales tax is calculated.
 In the Report Level field, select whether the program keeps tax audit
information at Invoice Level or No Reporting when no tax information is to be
kept.
 In the Allow Tax in Price field select if you can include taxes for an authority
in the selling price.

8. How do you turn a General Ledger account into a control account? What information do
you need to enter on the Subledger tab of the account? (1 Mark)
 Double click on the Accounts icon in the G/L Accounts Folder
 Type the Account in the Account field
 Click on the box beside the Control Account option
 Enter GL in the subledger column heading in the Subledger tab
 Click Save
- End -

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