Finally, we are done with CAS project!! The sense of satisfaction is really good. I am so glad that my group mates and I were able to finish everything on time. No more insomnia for CAS! No more going lab 8 and 9 after school!! HAHA!!
I must really admit that this project is tedious and brain wrecking. I believe many of my brain cells had died for CAS. HAHA!! I am not expecting much for this project. Whatever the grade is, we knew we done our best :D However, I am really glad that I had been give this opportunity to learn how to operate ACCPAC accounting software. I believe it will be benefial for me in the long run.
In this project, I contribute by sorting out the transactions and determine what to debit and credit. I also help in categorizing the transactions into 3 different modules, namely GL, AR and AP. Besides, i also helped in typing in the transactions into the system. I also gave the idea for the unique transaction (Shares 1-to-2 bonus share). In addtion, i also helped to double check every transactions before posting. Last but not least, I helped out in the GL data entry form too.
Through this project, i learnt a lot of important values.
Firstly, it is perservance. As there is many ups and downs, we definitely need a lot of perservance. We faced a lot of problems such as recurring entries, balance day adjustment, void cheque and etc. Without perservance, i doubt we will be able to finish the project on time.
Besides, i also realised the importance of communication. I must admit that there were some agruments during project sessions. For example, when we are deciding on how the entries should be entered into the system. Thus, i think that good communication skills is important if you are working in a group.
This project definitely allows me to understand ACCPAC better. I got a more insight view on how ACCPAC operates. Besides, I also understand the theory in the textbook better. For example, the different internal control. I can operate ACCPAC better now as compared to the times before project.
Lastly, I would like to thanks Miss June Yeo and Me Koh for their help. I would like to thanks my lovely group members too!! :D:D:D
First project session (15th June 2009)
Today marks the first CAS project session. Honestly, I wasn’t really looking forward to it. Many seniors told me that this project is going to be tough and tedious.
We reached school at about 12pm and the labs were almost full. We managed to find one computer in lab 8. Initially, we had totally no idea on how to start the project. Thus, we seeked help from our friends. So our very first step is to open the chart of accounts. It was tedious as we have to enter all the required accounts into the system. We backed up a file after that.
Next, we moved on to entering the opening balances. We created a batch in the GL batch list, namely opening balances as at 1June 2004. We entered all the opening balances into one entry.
After typing in everything, we realized we need to classify the sales account into 3 different categories, namely electrical, mechanical and equipment. Thus, we deleted the sales account in the opening balance and chart of account. We moved on to create the segment code before typing into the chart of account and opening balances again.
We took about 4 hours to complete both chart of account and opening balances.
Second project session (16th June 2009)
We had our second project session in school today. My group mates and I reached school at about 12pm. As usual, both labs were packed. We managed to find ourselves a computer and settled down.
Today, we carried on to do our GL transactions. Before doing the GL transactions, we confirmed all our transaction first. We created a new batch in the GL batch list, namely transaction for the month June 2009. Everything went on pretty smooth. There were a total of 35 transactions in the GL entry.
We took about 4.5 hours to complete entering all the transaction for GL modules.
Third project session (17th June 2009)
We had our third project session in school today. Frankly, I am sick and tired of lab 8 and 9 already. However, I felt that it is quite heartwarming to see all course mates helping each other in the lab.
Our aim today was to finish up AR and AP modules, both opening balances and transactions. We started with AR module first. Our first step was to set up the bank and tax rates. It was pretty easy as we followed the book. After that, we set up the customer database by typing all the customer profile in it.
After that, we continued by typing in the opening balance and transactions (Invoice and credit note). Next, we moved on by recording the receipted received by AR. We found out that we need to post the opening balance before we can carry on with typing in the receipts.
After typing everything, I realized a mistake. We were required to set up opening balances for 3 modules first, before we can carry on the transaction. However, we did it module by module. For example, we entered GL opening balances and GL transactions before carrying on with AR. We were quite worried and we went to find Miss June Yeo. We were quite relived to hear that it doesn’t matter.
We took about 5 hours to complete the opening balances and transactions for AR modules.
Fourth project session (18th June 2009)
I was late for project session today. I was super guilty as all my project group mates reached. Thus, I asked them to carry on first. I rushed out of my house and cabbed to school. I reached school at about 1.30pm. Surprisingly, the lab was not really that packed that day.
When I reached the lab, they had already finish setting up the tax rates and etc. Thus, I took over and entered all the AP particulars. It was quite tedious.
After setting up all the AP particulars, we carry on in entering the opening balances and transactions (Invoice and debit notes). The steps is quite similar to AR.
We then moved on in entering the payment transaction. For AP modules, we took about 3 to 4 hours to finish.
Fifth project session (19th June 2009)
I am actually quite stressed up with CAS project. I became super paranoid over small things. The thought of redoing really makes me go crazy.
In fact, I had this terrible dream of ACCPAC. I was alone doing ACCPAC in lab 8 at night. I was all alone and nobody was beside me. I was happily posting everything up. However I realized I cannot balance my balance sheet. I was short of $10000 I guess. I was crying non-stop and no one came to help me. Suddenly, Miss Yeo came in and started scolding me. It was dramatic but scary :DDD
Today project session was rather a short one because I had TPSU Sub comm Camp at night. So basically, we checked all the transactions in the GL, AR and AP modules.
Sixth project session (26th June 2009)
It had most been a week since I last touched ACCPAC. As our lesson ended quite early today, we decided to do CAS project after lunch.
Today, we basically aim to finish up balance day adjustment and recurring entries. Before we get started, we sort out the entries first and determine what to debit and credit. Everything went on pretty smooth.
Today’s project session was a short one.
Seventh project session (8th July 2009)
In the end, we balanced!! I was super nervous because a few of my friends cannot balance. However, I derived a Net loss of $43000, which was quite different from the rest. We went home to figure out where went wrong.
Eighth project session (13th July 2009)
We realized that there is something wrong with my balance day adjustment and recurring entries. For example, we put depreciation in both recurring and balance day adjustment. Thus, it resulted in double counting, which leads to my loss to be so high. We redo the balance day adjustment and recurring entries and post them up again. Now, we derived a loss of $12k, which is closer to the rest.
We are done with ACCPAC!!
Nineth project session (15th July 2009)
It’s basically printing day! We met up and printed all our reports required. Besides, we also spilted work for the GL data entry form.
I realized that we forget to do the component on void cheque when redoing. However, we wrote the double entry in the GL data entry form.
CHELSIA :D:D:D
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