Part A, 7 marks
You are working as an accountant in alocal accounting firm. You have been approached by Oliver andSydney, the owner of Sugariffic, a start-up wholesaler. They havechosen Xero as their cloud based accounting system and haveemployed you to set up their company in Xero and enter the firstmonthâs transactions. You are required to enter a range oftransactions and generate the reports requested by your client toassist with the start up of their business. All information hasbeen supplied by the business owner for you to input. The set upand transactional data will be provided in Interact Resources.
Taskrequirements:
Process your clients' transactions forAugust 2018. Generate and submit the following reports to yourclient for the month of August 2018;
Profit & Loss
Balance Sheet
Trial Balance
Aged Payables (detail)
Aged Receivables (detail)
Inventory Item Summary.
Part B, 3 marks
Whilst your client has requestedthe 6 reports detailed above, Xero has a range of other reportsavailable. Review the other reports which can be generated fromXero and prepare an executive summary for your client providingadvice on 2 other reports they could generate from Xero tofacilitate their decision making. In your summary, consider thefollowing:
Which other, specific reports from Xero should your clientgenerate and use for decision making?
What decisions would your client use each of these reportsfor?
To support your discussion, runthe reports you are recommending for the month of August andinclude them with your report.
The marks assigned for both parts ofthis assessment include correctness of information and presentationof your reports. Your report needs to look professional, as thoughit could be provided to your client.
kindly refer this link for moreinformation
Part A, 7 marks
You are working as an accountant in alocal accounting firm. You have been approached by Oliver andSydney, the owner of Sugariffic, a start-up wholesaler. They havechosen Xero as their cloud based accounting system and haveemployed you to set up their company in Xero and enter the firstmonthâs transactions. You are required to enter a range oftransactions and generate the reports requested by your client toassist with the start up of their business. All information hasbeen supplied by the business owner for you to input. The set upand transactional data will be provided in Interact Resources.
Taskrequirements:
Process your clients' transactions forAugust 2018. Generate and submit the following reports to yourclient for the month of August 2018;
Profit & Loss
Balance Sheet
Trial Balance
Aged Payables (detail)
Aged Receivables (detail)
Inventory Item Summary.
Part B, 3 marks
Whilst your client has requestedthe 6 reports detailed above, Xero has a range of other reportsavailable. Review the other reports which can be generated fromXero and prepare an executive summary for your client providingadvice on 2 other reports they could generate from Xero tofacilitate their decision making. In your summary, consider thefollowing:
Which other, specific reports from Xero should your clientgenerate and use for decision making?
What decisions would your client use each of these reportsfor?
To support your discussion, runthe reports you are recommending for the month of August andinclude them with your report.
The marks assigned for both parts ofthis assessment include correctness of information and presentationof your reports. Your report needs to look professional, as thoughit could be provided to your client.
kindly refer this link for moreinformation
