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Clover Cellars: An Accounting Practice set with Quickbooks Option
Clover Cellars: An Accounting Practice set with QuickBooks Option
Abdel Halabi, Monash University
Robyn Dyt, Monash University

Preface


This practice set is designed to provide introductory accounting students with an overview of an accounting information system for a business in both a manual and computerised format.

Section one of this practice set is to be completed manually. Excel worksheets are also available from the McGraw Hill website www.mhhe.com/au/halabi2. Section two is a computerised version of the same practice set using QuickBooks software.

There are many educational reasons for completing this practice set independently or in both formats. Students who complete the manual set only will obtain a sound foundation of the accounting concepts needed in an introductory course. Completion of the computerised section only allows students to gain a comprehension of the speed and accuracy of processing performed by the QuickBooks software. Students who complete both formats will gain an understanding of the manual system and see how the same information is presented using one of the most popular accounting software packages widely used in small business.

No prior knowledge of QuickBooks is required to complete the computerised section. Students who complete the practice set using the QuickBooks software are carefully instructed to work through all required aspects on a step by step basis.

Assistance is also provided for completing the manual practice set as the first five documents have been entered into the relevant Special Journals and ledgers (where relevant) as worked examples.

The practice set has been modelled to closely resemble an actual small business, and introduces many different types of transactions and accounting methods commonly used such as the use of electronic funds transfers (EFT) for payments and receipts; the Goods and Services Tax (GST); Pay As You Go taxation (PAYG); and accounting for a frequent buyers incentive. This practice set also contains all the features of bookkeeping for a business using the perpetual stock system.

Abdel K. Halabi
Robyn E. Dyt








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