Opening a QuickStart data file. Discount Days 0 Balance Due Days 30 % Discount for Early Payment 0%

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1 5.94 MYOB AccountRight Plus v19.7 Revision Exercise 3 Sadidas Sports is a sporting goods shop operating in Darwin, Northern Territory. It buys and sells sporting goods of all sorts on both a cash and credit basis. You are to open the QuickStart data file for Sadidas Sports to allow its conversion to MYOB AccountRight Plus to take place on June 1, Opening a QuickStart data file 1 Copy the QuickStart data file named Sadidas.MYO to your MYOB Data folder, and then rename it as Sadidas - Your Name.MYO. 2 Start MYOB AccountRight Plus, and then open the Sadidas - Your Name.MYO data file. Editing Company Information 1 Change the Company Name to Sadidas Sports - Your Name. Using the Sales assistant 1 From the Setup menu, click on Easy Setup Assistant to open the Easy Setup Assistant window. 2 Click on the Sales button to open the Sales Easy Setup Assistant, and then from the Layout window, select Item as the default sales invoice format. 3 From the Selling Details window, enter the Credit Limit as $15, From the Payment Information window, specify the following default customer terms: Typical Customer Credit Terms Payment is Due In a Given of Days Discount Days 0 Balance Due Days 30 % Discount for Early Payment 0% Creating customer cards 5 From the Customer Cards window, create all customer cards using the details that follow. Profile page Customer 1 Customer 2 Designation Company Company Name Cash Sales Ekin Australia Credit Limit $0.00 $15, ABN Customer Terms Information Payment is Due C.O.D. In a Given of Days Discount Days 0 0 Balance Due Days 0 30 % Discount for Early Payment 0% 0%

2 Chapter 5: Sales 5.95 Profile page Customer 3 Customer 4 Designation Company Company Name Annah Sports Dim Sim s Sports Store Credit Limit $10, $15, ABN Customer Terms Information Payment is Due In a Given of Days In a Given of Days Discount Days 0 0 Balance Due Days % Discount for Early Payment 0% 0% Profile page Customer 5 Customer 6 Designation Company Company Name Cosports DSM Credit Limit $15, $20, ABN Customer Terms Information Payment is Due In a Given of Days In a Given of Days Discount Days 0 10 Balance Due Days % Discount for Early Payment 0% 2% Entering historical sales 6 From the Historical Sales window, enter the details of all historical sales as given below. Customer Name DSM Ekin Australia Invoice 1 2 Date 19/05/ /05/2014 Customer PO Memo Pre-conversion sale Pre-conversion sale Total Including Tax $4, $7, Tax Code GST GST Tax $ $ Customer Name Cosports Invoice 3 Date 28/05/2014 Customer PO 761 Memo Pre-conversion sale Total Including Tax $2, Tax Code GST Tax $224.55

3 5.96 MYOB AccountRight Plus v19.7 Creating inventory items through Items List 1 Use the Items List function from the Inventory Command Centre to create inventory items as per the tables below. Profile page Item Number 1 2 Name Highly Strung Tennis Racquet Just Sticks Golf Club Set I Sell This Item Income Account for Tracking Sales Base Selling Price $79.95 $ Selling Unit of Measure each each Tax Code When Sold GST GST Inclusive/Exclusive Calculate Sales Tax on Actual Selling Price Actual Selling Price Profile page Item Number 3 4 Name Hunk o Willow Cricket Bat Wack em Hockey Stick I Sell This Item Income Account for Tracking Sales Base Selling Price $ $59.95 Selling Unit of Measure each each Tax Code When Sold GST GST Inclusive/Exclusive Calculate Sales Tax on Actual Selling Price Actual Selling Price Profile page Item Number 5 6 Name Get Dirty Football Jumper Get Dirty Football Shorts I Sell This Item Income Account for Tracking Sales Base Selling Price $68.75 $32.95 Selling Unit of Measure each each Tax Code When Sold GST GST Inclusive/Exclusive Calculate Sales Tax on Actual Selling Price Actual Selling Price Profile page Item Number 7 8 Name Roundball Soccer Ball Slam Dunk Basketball I Sell This Item Income Account for Tracking Sales Base Selling Price $27.95 $25.00 Selling Unit of Measure each each Tax Code When Sold GST GST Inclusive/Exclusive Calculate Sales Tax on Actual Selling Price Actual Selling Price The selling prices on all inventory items may vary from one sales transaction to another. Assume all prices shown are correct, and check each selling price carefully as you enter it.

4 Chapter 5: Sales 5.97 Creating employee cards for salespersons Sadidas Sports wishes to track sales by salesperson. 1 Use the Cards List function from the Card File Command Centre to create Employee cards for the following salespersons: Shaun Worn Michael Short The Company Designation will be used here (for convenience), with cards requiring only a name. Editing customer cards As mentioned just a little earlier, Sadidas Sports will record the salesperson responsible for each sales transaction. The table below shows the salesperson to be assigned to a particular customer for the duration of this exercise: Annah Sports Cash Sales Cosports Dim Sim s Sports Store DSM Ekin Australia Customer Michael Short Shaun Worn Michael Short Shaun Worn Shaun Worn Michael Short Salesperson Given that a customer is assigned a specific salesperson, it makes sense to edit the customer cards so that the salesperson s name automatically appears on sales invoices. The Salesperson box is located on the of customer cards. 1 Update each customer card with the salesperson as shown in the table above. 2 Return to the Command Centre window when the cards are completed. Recording sales and receivables transactions Do not record any of the transactions in the tables that follow until you have read all of the instructions for this section on the pages following. Some general points need to be taken into consideration as follows: Sadidas Sports prepares sales orders upon receipt of orders from customers. Orders are not usually received, however, from cash sale customers. Sales orders are not raised for sales returns and other adjustments. Item invoices are used for all sales and sales returns, whereas service invoices are generally used for sales adjustments where no item returns are involved. Customer names are abbreviated in the Customer column of the transaction tables where necessary. Customer PO (purchase order) numbers are to be recorded on sales documents when given. All prices shown on invoices are tax-inclusive. The Tax Inclusive option, therefore, is to be ticked at all times. Prices may vary from one transaction to another. All prices shown are correct. Invoice numbers are entered as shown in the Inv column. The number 4 (for example) when entered will display as

5 5.98 MYOB AccountRight Plus v19.7 Cash sales are to show the Paid Today amount with the same figure as the Total Amount. That is, the Balance Due should be $0.00. Sadidas Sports does not use the Comment, Promised Date and Referral Source boxes. The tables on the pages following summarise all transactions occurring for the month of June A separate table is devoted to each transaction type. Before you record transactions from any particular table, be sure to read all of the additional notes that follow. Sales orders Trans. Customer Inv Date Customer PO Ship Item No Price Freight Tax Total Amount Paid Today 1 Ekin 4 1/06/ $ $32.95 $25.00 $ $1, $ Cosports 5 3/06/ $ $ $ $59.95 $30.00 $ $3, $ DSM 6 3/06/ $27.95 $25.00 $53.09 $ $ Annah 7 7/06/ $59.95 $20.00 $34.52 $ $ Cosports 9 10/06/ $ $59.95 $30.00 $82.53 $ $ Annah 11 11/06/ $25.00 $20.00 $13.18 $ $ Cosports 12 14/06/ $ $27.95 $30.00 $20.16 $ $ DSM 13 15/06/ $27.95 $25.00 $32.76 $ $ Cosports 14 15/06/ $ $32.95 $30.00 $ $2, $ DSM 18 19/06/ $ $ $25.00 $25.00 $50.12 $ $ DSM 18 20/06/ $ $25.00 $25.00 $44.13 $ $ Ekin 19 22/06/ $65.00 $25.00 $61.36 $ $ Annah 23 24/06/ $59.95 $20.00 $34.52 $ $ Ekin 24 26/06/ $ $ $25.00 $47.64 $ $ Cosports 26 28/06/ $ $30.00 $30.00 $60.91 $ $0.00 All sales transactions will use the GST tax code. Sales order 18, created on 19/06/2014, is to be opened, edited and then saved as an order again on 20/06/2014.

6 Chapter 5: Sales 5.99 Sales invoices Trans. Customer Use order For Inv Date Customer PO Ship Back. Item No Price Freight Tax Total Amount Paid Today 5 Ekin 4 4 3/06/ $ $32.95 $25.00 $ $1, $ Cosports 5 5 5/06/ $ $ $ $59.95 $30.00 $ $3, $ DSM 6 6 5/06/ $27.95 $25.00 $42.93 $ $ Annah 7 7 9/06/ $59.95 $20.00 $34.52 $ $ DSM /06/ $27.95 $0.00 $10.16 $ $ Annah /06/ $25.00 $20.00 $13.18 $ $ Cosports /06/ $ $27.95 $30.00 $20.16 $ $ Cosports /06/ $ $32.95 $0.00 $ $2, $ DSM /06/ $27.95 $25.00 $32.76 $ $ DSM /06/ $ $25.00 $25.00 $44.13 $ $ Cash 21 23/06/ $ $30.00 $0.00 $8.64 $95.00 $ Cash 22 23/06/ $ $30.00 $0.00 $8.64 $95.00 $ Annah /06/ $59.95 $20.00 $34.52 $ $ Cash 25 27/06/ $25.00 $0.00 $2.27 $25.00 $25.00 All sales transactions will use the GST tax code. Invoice 10 results from the backorder on invoice 6. Invoice 14 shows freight as $0.00 despite the amount showing as $30.00 on the sales order by the same number. This occurred because invoices 12 and 14 were filled at the same time, thereby saving one freight charge. Cash Sales will have the Total Amount entered in the Paid Today box. Sales returns (item invoices) Trans. Customer Date Customer PO Ship Back. Item Amount Freight Tax Total Paid Inv No Amount Today 26 Cosports 17 18/06/ $27.95 $0.00 $2.54 $27.95 $ DSM 20 22/06/ $27.95 $0.00 $5.08 $55.90 $0.00 All sales transactions will use the GST tax code. Settle Inv 17 against Inv 12, and Inv 20 against Inv 18. Use an appropriate journal memo for these returns. Sales adjustments (service invoices) Trans. Customer Inv Date Customer Description Amount Freight Tax Total Paid PO Amount Today 11 Cosports 8 8/06/ Damaged Golf Clubs $ $0.00 $14.55 $ $0.00 This adjustment is to be allocated to account Sales and settled against invoice 5. Use an appropriate journal memo for this adjustment.

7 5.100 MYOB AccountRight Plus v19.7 Customer payments (other than cash sales) Trans. Customer ID for customer payment Date Amount Received Invoice Amount Applied to Invoice 2 DSM CR /06/2014 $4, $4, Cosports CR /06/2014 $2, $2, Ekin CR /06/2014 $8, $7, $1, Cosports CR /06/2014 $3, $3, DSM CR /06/2014 $ $ $ Annah CR /06/2014 $ $ $ Cosports CR /06/2014 $2, $ $2, DSM CR /06/2014 $ $ $ Some of the above customer payments involve entitlements to a prompt payment discount. The amounts to be applied to each individual invoice are shown in the table above. Recording the above transactions will require you to be very organised and methodical. You will be moving from one table to another as you search for the next transaction to be recorded in strict date order. The first transaction to be recorded is a sales order on 1/06/2014, the second transaction is a customer payment on 2/06/2014, and so on. The last transaction is a customer payment on 29/06/2014. The process of recording these transactions has been made easier by supplying a Trans. in the left-hand column for each and every transaction. The first transaction will be numbered 1, the second number 2, and so on, up to number 40. You are strongly advised to tick ( ) each transaction as you complete it, so that you do not lose track of what you have done. 1 Carefully record all of the above transactions in the correct order. Be sure to read all of the notes supplied with these transactions. Editing a sales invoice The sale to Annah Sports on June 25 was attributed to Michael Short. In fact, it was Shaun Worn who made the sale. Edit the sales invoice to correct the entry in the Salesperson box. 1 From the Sales Command Centre, click on Transaction Journal to open the Transaction Journal window, Sales page. 2 Scroll down to find invoice 23 (25/06/2014), click on the zoom arrow beside that invoice, and then make the necessary change in the Salesperson box. 3 When the change is completed, click on OK to return to the Transaction Journal window. Sadidas UTeach 01.MYO Deleting a sales invoice and customer payment Two identical cash sales were recorded on June 23 (invoices 21 and 22). The second invoice was recorded in error and will now be deleted. 1 From the Transaction Journal window, click on the zoom arrow beside invoice 22.

8 Chapter 5: Sales The Sales Edit Item window opens (Figure 5.131) showing the details of invoice 22. Figure Sales Edit Item window showing invoice 22 The amount Applied to Date of $95.00 represents the cash received from the customer at the point of sale. This means, in effect, that two transactions have occurred simultaneously. The first is a sale of goods to a customer, and the second is a receipt of cash from the customer. It is important to be aware of this because if you attempt to delete a sale upon which a customer payment has been received, you will be greeted with a warning message. 2 Next, click on Edit from the menu bar, and then select Delete Sale. As noted above, a warning message appears (Figure 5.132) telling you that you cannot do what you had intended. Figure AccountRight Plus window showing a warning message The key to successfully deleting this invoice is to delete the customer payment first. 3 Click on OK, then Cancel to return to the Transaction Journal window, and then on the Receipts tab. 4 Use the scroll arrow to locate the receipt from 23/06/2014 for Cash Sales , and then click on its zoom arrow. 5 Next click on Edit from the menu bar, and then select Delete Payment. Having deleted the customer payment, you are now free to delete sales invoice Return to the Sales page, delete sales invoice 22, and then return to the Command Centre window. Deleting a customer card The customer, Dim Sim s Sports Store, has not bought anything from Sadidas Sports in more than 12 months. Accordingly, the customer card will be deleted from the Card File. 1 Click on the Card File icon from the Command Centre window, and then click on Cards List. 2 When the Cards List window opens, click on Dim Sim s Sports Store, and then from the Edit menu, select Delete Card. Dim Sim s Sports Store no longer appears in the Cards List window. 3 Click on Close to return to the Command Centre window.

9 5.102 MYOB AccountRight Plus v19.7 Viewing orders using To Do List and Sales Register The To Do List has already been used on previous occasions to view sales orders. 1 From the Sales Command Panel, click on the To Do List button, and then on the Orders page tab to view sales orders. You should have found four outstanding sales orders: 9, 19, 24 and 26. Alternatively, you could view these orders through the Sales Register. 2 Click on Close to return to the Command Centre window, and then (from the Sales Command Centre) click on the Sales Register button. 3 When the Sales Register window opens, click on the Orders page tab, and make sure the date range is from 1/06/2014 to 30/06/2014. Needless to say, the same outstanding sales orders will be seen, although the Sales Register window displays more information on those orders than that seen in the To Do List window. 4 Click on Close to return to the Command Centre window. Analysing sales transactions You will now use Analysis to analyse sales according to item (product), salesperson, and customer. Firstly, you will analyse sales by item. 1 Click on the Analysis drop-down menu, select Sales, click on the Filters button, make sure All Items and Jun are selected, and then click on OK. Which product is the best seller by dollar value? According to the sales figures for June 2014, it is the Get Dirty Football Jumpers, closely followed by the Just Sticks Golf Club Sets. Secondly, you will analyse sales by salesperson. 2 Click on the Filters button, select All Salespeople, and then OK. Michael Short is responsible for over 80% of total sales for June Next, you will analyse sales by customer. 3 Click on the Filters button, select All Customers, and then OK. The top customer is Cosports, with almost 60% of the total sales for this month. 4 Return to the Command Centre window. Preparing reports for sales and receivables You will print only the following reports for June 2014: Sales & Receivables Journal (save as Sadidas_01.pdf) Cash Receipts Journal (save as Sadidas_02.pdf) 1 Print the above reports, and then check the printouts against those shown on your DVD. Combining all reports into a single pdf 1 Combine Sadidas_01.pdf and Sadidas_02.pdf into a single file named Sadidas_all.pdf. Exiting MYOB AccountRight Plus 1 Close your data file and exit MYOB AccountRight Plus. Revision Exercise 3 is now completed.