B.C.'s Energy College


Apply Now
WFTR539 - Simply Accounting Level 1 & 2
Course Code:
WFTR 539

Calendar Description:
Level 1 is an introduction to accomplishing basic accounting tasks using Simply Accounting by Sage Premium. Students will begin with a company file and enter transactions for general ledger, accounts receivables, accounts payable, inventory, and managing capital expenses.

Level 2 of this courseware is to introduce some of the more advanced functions and capabilities of Simply Accounting by Sage.

Date First Offered:
2009-07-01

Hours:
Total Hours: 30
Seminars and Tutorials: 30

Total Weeks:
10

This course is offered online:
No

Pre-Requisites:
WFTR 536 Introductory Accounting for Small Business and Entrepreneurs Level 1 or permission of Instructor

Non-Course Pre-Requisites:
This course is designed for students who are familiar with personal computers, using a keyboard and using a mouse. The course assumes that students have experience working in a Microsoft Windows environment.

Co-Requisites:
NONE

Rearticulation Submission:
No

Course Content:
- Starting Simply Accounting
- Selecting a Set of Data Files
- Looking at the Simply Accounting
- Home Window
- Moving Around
- Help System
- Understanding the Chart of Accounts
- Account Types
- Creating Accounts
- Modifying Accounts
- Finding and Modifying an Account
- Deleting Accounts
- Saving Changes
- Company Information
- Printing the Chart of Accounts
- Understanding the Session Date
- Inputting Dates
- Accounting/Non-Accounting Terminology
- General Module Linked Accounts
- General Journal Transactions
- Recurring Transactions
- Creating and Storing Recurring Transactions
- Recalling Stored Recurring Transactions
- Reversing General Journal Entries
- The General Journal Report
- Backing Up Simply Accounting Data Files
- Exiting Simply Accounting

Inventory and Services
- Creating Inventory Accounts
- Creating Inventory Items
- Creating Service Items
- Changing Inventory & Service Data
- Inventory Module Linked Accounts
- Inventory Reports

Accounts Payable
- Creating Vendors
- Modifying Vendors
- Setting Up the Shippers List
- Payables Module Linked Accounts
- Accounts Payable Inventory Purchases
- Purchasing Inventory On Account
- Non-Inventory Purchases
- Purchases With Immediate Payment
- Recurring Entries
- Purchase Orders
- Filling a Purchase Order
- Creating a Purchase Invoice from a Purchase Order
- Viewing, Adjusting & Voiding Posted Payables Invoices
- Payables Payments
- Paying Vendor Invoices
- Making Prepayments
- Reversing Payments
- Payables Reports

Accounts Receivable
- Accounts Receivable Customers
- Modifying Customer Information
- Receivables Module Linked Accounts
- Comments on Customer Forms
- Accounts Receivable Sales
- Recurring Transactions
- Sales Quotes
- Accounting for Over-the-Counter Sales
- Viewing, Adjusting & Voiding Posted Receivables Transactions
- Receivable Receipts
- Receiving Payment on Invoices
- Adjusting/Reversing Receivables Receipts
- Prepayments & Deposits
- Applying Deposits/Prepayments
- Sales Returns
- Receivables Reports

Payroll
- Payroll Overview and Set Up
- Creating Employee Records
- Modifying Employee Records
- Payroll Linked Accounts
- Paying Employees
- Recurring Transactions
- Payroll Advances
- Viewing, Adjusting & Voiding Posted Payroll Transactions
- Entering Taxes Manually
- Payroll Reports

Reporting, Miscellaneous and Period End Procedures
- Creating Graphs
- Creating and Printing Financial Reports
- Financials
- Using the Daily Business Manager
- Processing Transactions in the Daily Business Manager
- Using Checklists
- Checking Data Integrity and Compacting the Database
- Printing in Batches
- Setting Up Batch Printing
- Printing in Batches
- Month End Procedures
- Calendar Year End Procedures
- Year-End Procedures


Setting up Data Files and Customizing Settings
- Creating a New Company
- Using the Setup Wizard
- Setting up the General Ledger
- Entering Opening Balances
- Setting up Linked Accounts
- Entering Vendors and Purchases History
- Entering Customers and Sales History
- Entering Inventory and Services History

Entering Employees and Payroll History
- Finish Entering Historical Data
- Customizing Simply Accounting
- Setting up Sales Taxes

Banking and Credit Cards
- Setting up the Bank Reconciliation
- Setting up an Account for Reconciliation
- Reconciling an Account for the First Time
- Reconciling an Account
- Printing the Bank Reconciliation Report
- Working with Credit/Debit Card Transactions
- Entering Customer Sales on Credit Card
- Reconciling the Credit Card Account
- Creating and Setting up Credit Cards for Purchases
- Enter Vendor Purchases on Credit Card
- Reconciling the Credit Card Statement

Security, Budgets, Projects and Inventory
- Adding Passwords and Security
- Accessing the System Administrator
- Adding a User
- Changing or Deleting a User’s Password
- Deleting a User
- Removing Security Options from the Data file
- Budgeting
- Activating the Budget Option
- Creating a Budget
- Reporting Against the Budget
- Updating the Budget
- Handling Project/Department Accounting
- Setting up Projects/Departments
- Allocating Expenses and Revenues
- Reporting on Project/Department Performance and Budgets
- Managing Inventory
- Performing Inventory Counts
- Writing off Inventory
- Looking at Item Assembly
- Bill of Materials vs. Item Assembly

Additional Payroll Features
- Introducing Types of Income and Deductions
- Introducing Types of Deductions
- Setting Payroll Remittance
- Employee Benefits
- Setting up Batch Printing of Paycheques
- Allocating Payroll Cheques to a Project/Department
- Generating a Payroll Run
- Remitting Payroll Deductions/Contributions
- Releasing Vacation Pay
- Employee Departures
- Generating a Record of Employment
- Generating T4 Slips
- Setting up Printer Options in Preparation for T4 Slips
- Printing T4 slips

Working with Foreign Currencies
- Dealing with Foreign Currency
- Setting up a Foreign Currency
- Setting up a Foreign Currency Bank Account
- Setting up a Vendor
- Setting up for Sales to Foreign Customers
- Pricing Inventory and Services
- Setting up Foreign Customers
- Tracking Import Duty Information
- Making Purchases
- Making Sales Using a Foreign Currency
- Tracking Currency Fluctuations
- Foreign Currency Reporting

Reporting, Records and Importing Data
- Charging Interest on Overdue Accounts
- Preparing Customer Statements
- Setting up the Statements
- Printing or E-mailing a Customer Statement
- Handling NSF Cheques
- Handling Bad Debts
- Writing Off a Bad Debt
- Clearing Transactions
- Making Records Inactive
- Handling GST and GST Remittances
- Calculating the Amount of GST Owing/Refundable
- Handling and Remitting Provincial Sales Tax
- Remitting PST
- Handling and Remitting WCB Premiums
- Remitting WCB Premiums
- Customizing Simply Accounting Journals
- Viewing Account Numbers
- Printing Labels
- Using E-mail in Simply Accounting
- Accessing the Simply Accounting by Sage Web site
- Performing Management Reporting
- Exporting Reports
- Using the New Business Guide
- Finding Important Code Numbers
- Using Simply Forms Designer
- Deleting a Custom Report
- Time Slips
- Creating Job Categories
- Creating a Time Slip
- Time and Billing Report

Learning Outcomes:
Upon successful completion of this course, the student will be able to:

- Successfully start Simply Accounting
- Correctly Select a Set of Data Files
- Correctly Navigate Simply Accounting
- Demonstrate the use of the Help System
- Demonstrate understand and creation of the Chart of Accounts
- Define Account Types
- Demonstrate how to Create Accounts
- Demonstrate how to Modify Accounts

Demonstrate how to Find and Modify an Account in the following ways:
- Delete Accounts
- Save Changes
- Enter Company Information
- Print the Chart of Accounts
- Understand the Session Date
- Input Dates
- Know Accounting/Non-Accounting Terminology
- Use General Module Linked Accounts
- Create General Journal Transactions
- Utilize the Recurring Transactions functions for:
Creating and Storing Recurring Transactions
Recalling Stored Recurring Transactions
- Reverse General Journal Entries
- Run the General Journal Report
- Back Up Simply Accounting Data Files
- Exit Simply Accounting correctly

Inventory and Services
- Create Inventory Accounts
- Create Inventory Items
- Create Service Items
Change Inventory & Service Data
- Use Inventory Module Linked Accounts
- Run Inventory Reports

Accounts Payable
- Create Vendors
- Modify Vendors
- Set Up the Shippers List
- Use Payables Module Linked Accounts
- Record Accounts Payable for Inventory Purchases
Record Purchasing Inventory On Account
- Record Non-Inventory Purchases
- Handle Purchases With Immediate Payment
- Set up for Recurring Entries
- Understand the use of Purchase Orders
- Fill out a Purchase Order
Create a Purchase Invoice from a Purchase Order
- View, Adjust & Void Posted Payables Invoices
- Use Payables Payments
Pay a Vendor Invoices
- Make a Prepayments
- Reverse Payments
- Run Payables Reports
Accounts Receivable
- Create Accounts Receivable Customers
- Modify Customer Information
- Utilize Receivables Module Linked Accounts
- Create Comments on Customer Forms
- Record Accounts Receivable Sales
- Set up Recurring Transactions
- Create and store Sales Quotes
- Account for Over-the-Counter Sales
- View, Adjust & Void Posted Receivables Transactions
- Receivable Receipts
Receive Payment on Invoices
- Adjust/Reverse Receivables Receipts
- Record Prepayments & Deposits
- Apply Deposits/Prepayments to departments
- Record Sales Returns
- Run Receivables Reports

Payroll
- Navigate Payroll Overview and Set Up
- Create Employee Records
- Modify Employee Records
- Use Payroll Linked Accounts
- Pay Employees
- Set-up Recurring Transactions
- Enter Payroll Advances
- View, Adjust & Void Posted Payroll Transactions
- Enter Taxes Manually
- Run Payroll Reports

Reporting, Miscellaneous and Period End Procedures
- Create Graphs
- Create and Print Financial Reports
Run Financials
- Use the Daily Business Manager
Process Transactions in the Daily Business Manager
- Use Simply Checklists
- Check Data Integrity and Compact the Database
- Print in Batches
Set Up Batch Printing
Print the Batches
- Perform Month End Procedures
- Perform Calendar Year End Procedures
- Perform Year-End Procedures

Set-up Data Files and Customize Settings
- Create a New Company
Use the Setup Wizard
Set-up the General Ledger
Enter Opening Balances
Set-up Linked Accounts
Enter Vendors and Purchases History
- Enter Customers and Sales History
Enter Inventory and Services History



- Enter Employees and Payroll History
Finish Historical Data Entry
- Customize Simply Accounting
Set-up Sales Taxes

Banking and Credit Cards
- Set-up the Bank Reconciliation
Set-up an Account for Reconciliation
- Reconcile an Account for the First Time
Reconcile an existing Account
- Print the Bank Reconciliation Report
- Record Credit/Debit Card Transactions
- Enter Customer Sales on Credit Card
- Reconcile the Credit Card Account
- Create and Set-up Credit Cards for Purchases
- Enter Vendor Purchases on Credit Card
- Reconcile the Credit Card Statement

Security, Budgets, Projects and Inventory
- Add Passwords and Security
- Access the System Administrator
Add a User
Change or Delete a User’s Password
Delete a User
Remove Security Options from the Data file
- Budgeting
Activate the Budget Option
Create a Budget
Report Against the Budget
Update the Budget
- Handle Project/Department Accounting
Set-up Projects/Departments
Allocate Expenses and Revenues
Report on Project/Department Performance and Budgets
- Managing Inventory
Perform Inventory Counts
Write off Inventory
Define Item Assembly
Explain the pluses and minuses of; Bill of Materials vs. Item Assembly

Additional Payroll Features
- Know the different Types of Income and Deductions
- Set-up Payroll Remittance
- Set-up Employee Benefits
- Set-up Batch Printing of Paycheques
- Allocate Payroll Cheques to a Project/Department
- Generate a Payroll Run
- Remit Payroll Deductions/Contributions
- Release Vacation Pay
- Employee Departures
Generate a Record of Employment
Generate T4 Slips
- Set-up Printer Options in Preparation for T4 Slips
- Print T4 slips



Working with Foreign Currencies
- Handle Foreign Currency transactions
- Set-up a Foreign Currency
- Set-up a Foreign Currency Bank Account
- Set-up a Vendor
- Set-up for Sales to Foreign Customers
Price Inventory and Services
Set-up Foreign Customers
- Track Import Duty Information
- Make Purchases
- Make Sales Using a Foreign Currency
- Track Currency Fluctuations
- Run Foreign Currency Report

Reporting, Records and Importing Data
- Charge Interest on Overdue Accounts
- Prepare Customer Statements
Setting up the Statements
Print or E-mail a Customer Statement
- Handle NSF Cheques
- Handle Bad Debts
Write Off a Bad Debt
- Clear Transactions
- Make Records Inactive
- Handle GST and GST Remittances
Calculate the Amount of GST Owing/Refundable
- Handle and Remit Provincial Sales Tax
- Handle and Remit WCB Premiums
- Customize Simply Accounting Journals
- View Account Numbers
- Print Labels
- Use E-mail in Simply Accounting
- Access the Simply Accounting by Sage Web site
- Perform Management Reporting
- Export Reports
- Use the New Business Guide
- Find Important Code Numbers
- Use Simply Forms Designer
Delete a Custom Report
- Time Slips
Create Job Categories
Create a Time Slip
Run a Time and Billing Report

Grading System:
Percentage

Passing Grade:
70%

Grading Weight:
Quizzes and Tests: 45 %
Project: 50 %
Participation: 5 %

Percentage of Individual Work:
100

Course Offered in Other Programs:
No

Text Books:
Required - Sage, 2008, Simple Accounting by Sage Premium 2008 Level 1 (Sage). Chapters Covered: All
Required - Sage, 2008, Simply Accounting by Sage Premium 2008 Level 2 (Sage). Chapters Covered: All
Home   |   About NLC   |   Admissions   |   Programs   |   Services   |   Student Life   |   News & Events   |   Contact Us
Northern Lights Facebook Fan Page Northern Lights Twitter Page Northern Lights YouTube Page