CHAPTER 1 – OPERATING PROCEDURES

THE MENU BAR

The menu bar contains eight menu titles – File, Edit, Data, Options, Reports, Extras,
Window and Help. A drop-down menu will immediately appear once the pointer is positioned
on the toolbar buttons.

Menu Path - File  New  Close

NAVIGATING INTEGRATED ACCOUNTING

1. Set-up Accounting System

Menu Path -  Setup

Example: (Click the items)

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 Business Organization – Single Proprietorship
Features - Fixed asset, Inventory, Accounting Drills, No Special Journals
Type of Business - Service Business
Income Statement - Report by Month and Year
Accounting System - Standard

2. Setup Chart of Accounts

Menu Path – Accounts  Pick List  Account OK Add Account

3. Setup Vendor List

Menu Path – Accounts  Vendors Type Name of Vendor  Add Vendor

4. Setup Customers List

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 Menu Path - Accounts Customers  Type Customer Name  Add Customers

(Note: Use the same menu path with Fixed Assets and Inventory)

5. Setup for Merchandising Business

Menu Path -  Setup (On your screen, follow the example on the book)

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6. Special Journals

Menu Path - Journals  General Journal

Menu Path - Journals  Purchase Journal

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 Menu Path - Journals  Cash Payment Journal

Menu Path - Journals  Sales Journal

Menu Path - Journals  Cash Receipts Journal

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7. Reports

Menu Path -  Reports  Account Lists (Chart of Accounts, Vendor List, Customer
List)

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 Menu Path -  Reports  Journals (Special Journals: GJ – CRJ – CPJ – SJ – CRJ

Menu Path -  Reports  Ledger Reports (Trial Balance, General Ledger, Schedule of
Accounts Payable/Receivable, Accounts Payable/Receivable Ledgers , Statement of
Accounts

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Menu Path -  Reports  Financial Statements (Income Statement, Balance Sheet,
Retained Earnings Statement

Menu Path -  Reports  Financial Analysis (Income Statement/Balance

Sheet Vertical and Horizontal Analysis, Ratio Analysis,
Statement of Cash Flow)

Menu Path -  Graphs (Income Statement, Expense Distribution,

Top Customers, Balance Sheet, Sales)

8. Useful Aid – Calculator

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 CHAPTER 2 – ACCOUNTING CYCLE OF A SERVICE BUSINESS

1. Start up Integrated Accounting 7e.

2. Go to File and click New.
3. Enter your name in the User Name text box and click OK.
4. Save the file to your disk and folder with the file name (your name Business Solutions.
5. Go to setup and fill out the Company Info.
6. Go to Accounts and create Chart of Accounts. For Capital and Drawing Account, enter
your name.
7. Go to Journal and post the following transactions:

Problem 2 - 1
On April 1, 2017, John Marquez launched a computer solutions company, JM Business
Solutions. During the month,the company had the following transactions related to the
business:

April 3 John invested P450,000 cash, office furniture with a value of P74,500, and P85,000 of
computer equipment in the company.
4 The company purchased a one-storey Building worth P1,250,000 for an office by
paying P200,000 cash and for the balance, signed a long-term note payable.
4 The company paid P10,600 cash for the premium on a two-year insurance policy.
5 The company provided services to a client and immediately collected P8,000 cash.

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5 The company purchased P13,500 worth of additional computer equipment by paying
P5,000 cash and the balance at the end of the month.
6 The company completed P8,750 of services for a client. This amount is to be received
within 15 days.
7 The company purchased P9,500 of additional office furniture on credit.
10 The company completed client services for P19,200 for cash.
10 The company received a bill for rent of a computer testing device that was used on a
recently completed job amounting to P1,500.
11 The company collected P4,600 cash as partial payment from April 6 transaction.
12 The company paid P15,600 cash for accountant’s salary.
13 The company paid bill to settle the purchase of office furniture
14 Billed client for P15,000 for services rendered.
14 The company paid P825 cash for minor maintenance of the company’s computer
equipment.
14 John withdrew P7,875 cash from the company for personal use.
17 Received cash in full payment for services rendered in transaction 6.
17 Collected cash amounting to 30,000 for services rendered.
18 The company paid P21,600 cash for salary of the assistant.
19 The company paid P2,000 cash for advertisements in the local newspaper for the
month.
20 Paid electric bill amounting to P3,000.
20 Paid telephone bill amounting P2,500.
20 The company completed client services and received P9,500 check.
25 Paid supplier in for computer equipment purchased on April 5.
27 Paid employees salary for P32,000.
27 Received cash from client in full payment for services rendered last April 14.
28 Render service on account amounting to P9,000.
28 Received and paid bill to Petron Gas Station amounting to P6,000.
28 Purchase office supplies on account amounting to P3,000.
28 Purchase additional computer amounting to P30,000 for cash.

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