ACCT 2281 - Accounting Software Systems

Course Description

Students learn to maintain the financial records of a small business using Sage 50 and other business management software.  Topics include an introduction to Sage 50; general ledger; accounts payable; accounts receivable; payables and receivables setup; payroll journal and setup; inventory transactions; orders, quotes and deposits; currency and remittances; bank reconciliations and deposits; and a comprehensive setup.

Learning outcomes

• Analyze a company’s financial system requirements and configure a chart of accounts.
• Identify transaction types, analyze source documents and process accounting entries.
• Record accounts payable and accounts receivable transactions and analyze reports.
• Process payroll transactions and generate payroll-related reports.
• Define inventory valuation methods, set up product inventories and record inventory adjustments.
• Recognize the differences between customer quotes, sale orders and sales invoices.
• Determine accounting system needs in a multi-currency environment, set up foreign currency accounts and process transactions in multiple currencies.
• Implement internal control procedures including bank reconciliations.
• Complete year-end closing procedures. 

Course topics

• Lesson 1: Introduction, Indirect Taxes, and General Journal
• Lesson 2: Accounts Payable
• Lesson 3: Accounts Receivable
• Lesson 4: Company Setup, Payables, and Receivables Setup
• Lesson 5: Payroll Journal and Payroll Ledger Setup
• Lesson 6: Assignment 1: Comprehensive Setup
• Lesson 7: Inventory Transactions
• Lesson 8: Orders, Quotes, Prepayments, and Deposits
• Lesson 9: Credit Cards, Currencies, and Remittances
• Lesson 10: Project Allocations
• Lesson 11: Reconciliations and Deposits
• Lesson 12: Assignment 2 and Final Project: Comprehensive Setup

Required text and materials

Students are responsible for purchasing the required materials on their own:

• Purbhoo, M. (2024). Using Sage 50 Accounting 2024 + Student Version Software. Pearson Canada. 
  Type: E-Textbook. ISBN: 9780138299712 / 9780138299668

Note: This item can be purchased directly from the following link.

Note: Sage 50 is only compatible with Windows 7 and higher operating systems. Sage currently does not provide a Sage 50 version for the Mac platform.

Assessments

To successfully complete this course, students must achieve a passing grade of 50 % or higher on the overall course, and 50% or higher on the final mandatory project.

Recommended requisite(s)

• ACCT 1211 or equivalent and ACCT 1221 or equivalent; 
  or
• ACCT 2211 or equivalent
• ENGL 1101 or equivalent

Exclusions

• ACCT 1920
• ACCT 1921