SOLUTION'S MANUAL For Computer Accounting with Sage 50 Complete Accounting 2013 [Formerly Peachtree] by digitaldownload87

SOLUTION'S MANUAL For Computer Accounting with Sage 50 Complete Accounting 2013 [Formerly Peachtree]. 17th Edition. Carol Yacht, M.A.

CHAPTER 1 INTRODUCTION TO BELLWETHER GARDEN SUPPLY In Chapter 1, students are introduced to Sage 50 Complete Accounting 2013. Throughout the textbook the abbreviation SCA is used to identify the software. Chapter 1 and all subsequent chapters begin with Learning Objectives. LEARNING OBJECTIVES 1. Start Sage 50 Complete Accounting 2013 (SCA). Comment If Sage 50 Complete Accounting 2013 is not installed, refer to textbook pages vi-xv; or, Appendix A, pages 441 - IMK to 450 - IMK, steps 1-24. The sample company, Bellwether Garden Supply, must be installed to complete Chapter 1.

2. Explore the sample company, Bellwether Garden Supply. 3. Make sure global options are set

4. Back up Bellwether Garden Supply data 5. 6. 7. 8. 9.

Restore data with Sage 50’s restore Wizard . Operate Sage 50’s menus, drop-down lists, toolbar, and navigation bar. Use Windows Explorer to see files sizes. Export Sage 50 reports to Excel, and save reports as Adobe PDF files. Make three backups, save three Excel files, and three PDF files.2

SCA TIPS, CHAPTER 1

 The software installation steps are consistent with the Windows 7

operating system. If you or your students are using Windows Vista or XP, the installation steps may differ slightly.

This icon, , means there is a Global Options video. Go online to http://www.mhhe.com/yacht2013. Link to Student Edition, select Chapter 1, Videos, Global Options. 2 Refer to the chart on textbook pages 2 and 3 for the size of files backed up and saved. Students should check with their instructor for his or her preference for receiving Excel (.xlsx) or Adobe (.pdf) files.

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© 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

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Chapter 1

 Windows 7, Vista and XP program file and company data file locations

differ. For more information, see File Management, textbook pages xviiixxii.  If you have more than one section of students using the sample company, you should restore the starting data for Bellwether Garden Supply before beginning the next class. Instructions for making the first backup are on textbook pages 22-25. This backup is for Bellwether Garden Supply’s starting data. At this point in Chapter 1, students have not added any information to the sample company. The backup name is bgs.ptb.  The textbook shows detailed steps for backing up to a USB flash drive. For all backups in Chapters 1-18 and the projects, a 4GB USB flash drive is recommended.  Sage 50’s backups default to the hard drive. Students can back up to the default location, or specify a location for backing up, such as a network location or external media. For example, backups can be made to a CD-RW drive, DVD-RW drive, or USB drive.  See textbook pages 29 through 32 for Using Sage 50’s Restore Wizard. Sage 50’s Restore Wizard allows you to restore An Existing Company (the default); or, restore A New Company. For more information about restoring a new company (one that is not listed in Sage 50), refer to the Read Me box on textbook page 29 or page 18 - IMK. Read Me: Do your students need to restore? If your students are completing their Sage 50 work in the computer lab or classroom, they should restore backup files from their USB drive (or other location). In order for the student to start where they left off the last time data was backed up, use the restore feature. If students are working on their own computer or laptop, they probably can skip restore. For example, in Chapter 1 on textbook page 40, students added themselves as an employee. Students should display the employee list. If their name is shown, they can skip restore. If students are taking this course online, they probably do not have to restore each time it is shown in the textbook. Their PCs or laptops will accumulate Sage 50 data as they work through the book. The author suggests that students restore periodically. What should the instructor do? You may want to include in your syllabus whether or not you want students to restore backup files each time it is shown in the textbook. It may depend on whether students are working in the classroom or online on their own computers.

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 Students can restore from a back up file even if no Sage 50 company exists. From Sage 50’s start up window, select File; Restore. Select the location of the backup file. On the Restore Wizard’s Select Company window, select A New Company. The selection for “A New Company” allows you to restore backup data and set up the company at the same time.  Students can add their names to reports. Refer to textbook page 43, Add Your Name to Reports.

 After adding the student’s first and last name to Bellwether, the Directory field ends in \belgarsu. This will be shown when students open Bellwether Garden Supply - Student Name.  In Windows 7 and Vista, the computer owner is identified when files are backed up or saved. To see which user saved the file, right-click on the Start button, left-click Explore. Go to the location of the backup file; right-click on the filename, left-click Properties. The Details tab shows the Owner and Computer name. The time and date is also shown. The same steps can be used to check .ptb files (extension used for Sage 50 backups); Excel files (.xlsx or .xls extensions); Adobe files (PDF extension); and Word files (.docx and .doc extensions).  In Chapter 5 on textbook page 185, an Audit Trail Report is shown. Observe that the Transaction ID column shows CYACHT and MWOOD

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Chapter 1

in the Add, Maintain Employees rows; the Date and Time this entry was recorded is also shown. This information shows the employee added in Chapter 1, textbook page 40 Adding Yourself as an Employee and textbook page 51 (Exercise 1-2). Students are instructed to use their first initial and last name. CYACHT is shown on the Audit Trail Report because the author’s name is used. The date and times in the report below indicate when the author made changes. Your students Date and Time fields will differ. If your students are completing work after December 31, 2013, change the date range For the Period From Jan 1, 2006 to the student's current date.)

The Audit Trail Report is a way for instructors to check the integrity of individual student records. Use the Audit Trail Report to make sure that

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the student turning in the work is the one whose name appears on the Maintain Employees row. If two or more Audit Trail Reports have the same name, date and time, you probably have a paper trail to students sharing backup files. You may want students to turn in their Chapter 5.ptb file so that you can restore that file and check the Audit Trail Report. Another way to do this is to have the student restore the Chapter 5.ptb file in the computer lab, then display the Jan 1, 2006 through Dec 31, 2013 (if after 12/31/13, use that date) Audit Trail report to check the name, date, and time next to Maintain Employees. It is the goal of the textbook to make learning interactive. Throughout the textbook, numerous window illustrations are used to show the students how to complete the instructions successfully. The window illustrations in the textbook are done with Windows 7 and Sage 50 Complete Accounting 2013. Sage 50 Complete Accounting (SCA) is similar to other programs that use the Windows operating systems (XP, Vista, 7). Your students will see similarities in the Navigation Bar selections, menus, entering and saving data, and selecting icons. If your students are not familiar with Microsoft Windows, using SCA will help them become familiar with the Windows operating system. In Chapter 1, students use the sample company, Bellwether Garden Supply. Bellwether Garden Supply is one of the sample companies included when Sage 50 is installed. Your students will get a sampling of features that will be developed in greater detail as they complete the textbook. The purpose of the sample company, Bellwether Garden Supply, is to provide software familiarity rather than to test accounting knowledge. Comment: The work in Chapters 1-7 is cumulative. Students need to complete the activities within the chapter and the exercises at the end of the chapter. Completing all the work in Chapters 1-7 will ensure that your students’ work agrees with what is shown in the textbook.

EXPORTING SAGE 50 REPORTS TO MICROSOFT EXCEL AND WORD If Sage 50 report printouts are required for grading purposes, they can be exported to Excel then emailed to the instructor as an .xls (Excel 97-2008) or .xlsx (Excel 2007/2010) attachment. Refer to textbook pages 45-47, Exporting Sage 50 Reports to Microsoft Excel. Sage 50 reports include an Excel icon.

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Sage 50 reports can also be copied to Microsoft Word. Chapter 18 includes how to copy reports to Microsoft Word, textbook pages 656-657. SAVING REPORTS AS ADOBE PDF FILES Sage 50 reports can also be saved as PDF files. This may be the instructor's preference for collecting student work. Textbook pages 47-48 show the steps for saving PDF files. In Chapter 1, the following reports are saved as PDF files: the Employee List and the Chart of Accounts. Comment: In Exercise 1-2, page 52 below step 10, students are told to check with their instructor for his or her preference for receiving files. If instructors prefer Sage 50 reports attached for grading purposes, refer to textbook pages 45-47, Exporting Sage 50 Report Data to Microsoft Excel; or Saving Employee List as a PDF File, pages 47-48 To export two Sage 50 reports to one Excel file, see pages 85-87. For grading purposes, instructors may prefer receiving Adobe files (.pdf) or Excel files (.xlsx).

BACKING UP BELLWETHER GARDEN SUPPLY Before making changes to Bellwether Garden Supply, you should back up the sample company data. When using SCA, information is automatically saved to the hard drive of the computer. In a classroom, a number of students may be using the same computer. This means that when you return to the computer lab or classroom, your data will be gone. Backing up means saving a copy of the data to a hard drive, network drive, or external media. Backing up insures that you can start where you left off the last time Sage 50 was used. When backing up, you have choices − accept the hard-drive default location or back up to a USB drive (or other external media). In the steps that follow, backups are made to a USB drive also called flash drives, thumb drives, or pen/stick drives. In this book, the term USB flash drive is used to identify USB storage media. USB is an abbreviation of Universal Serial Bus.

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Comment: Backing up data to the hard-drive default location The author suggests backing up the sample company before any changes are made. In the textbook, backups are made to external media or a USB drive. Backups can also be made to the desktop or other locations. You may also backup to the default location at C:\Sage\Peachtree\Company\Sample\PCWS\BCS. Hint: To see the default directory where Bellwether is located, from the menu bar select Maintain, Company Information. The Directory field shows the location of the BCS folder. BCS is the folder where Bellwether Garden Supply data is stored. Education Version directory:

Student Version directory: When a back up is made, data is saved to the current point. To distinguish between backups, a different backup name (file name) should be used. Use Sage 50’s restore feature to retrieve information that was backed up. In the business world, backups are unique to each business: daily, weekly, monthly. Think of your backups this way and you will see why individual backups at different points in the data are necessary. You should never leave the computer lab or classroom without backing up your data.

Follow these steps to back up Bellwether Garden Supply. The text directions assume that you are backing up to a USB drive. You can also backup to the desktop, hard drive, or network location. One USB flash, thumb or pen drive, CD-R or DVD-R can be used for all backups in the textbook (Chapters 1-18 and the projects). The chart on pages 2 and 3 (Part 1 introduction) shows the size of each backup made in Chapters 1-8. 1. Insert a USB flash drive into the USB drive. 2. From the Navigation Bar, click . In the Back Up and Restore Data area, click . The Back Up

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Company window appears. If necessary, uncheck the box next to Include company name in the backup file name. 3. Click . The Save Backup for Bellwether Garden Supply as window appears. 4. In the Save in field, select your USB drive. The illustration below shows drive D, which is the location of the author's USB drive. Your USB drive letter may differ. Type bgs in the File name field.

Observe that the Save as type field shows that you are making a Sage 50 Backup (*.ptb), which is abbreviated ptb. This is the extension for Sage 50 backups.

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Comment If your Save as type field does not show Sage 50 Backup (*.ptb), follow these steps: 1. Right-click ; left-click Open Windows Explorer. (These instructions are consistent with Windows 7.) 2. From the menu bar, select Organize, Folder and Search Options. 3. Click on the View tab. Make sure the box next to Hide extensions for known file types is unchecked--

4. Click . Your PCA files will now have file extensions. 5. Close Windows Explorer.

Read Me: "Student Version" or "Educational Version" If you are backing up to the default hard-drive location, the Student Version hard-drive location for backups is C:\Sage\Company\Sample\PCWS\ BCS. If your folder shows …\Sample\PCWE, you are using the Educational Version's sample company data. Your hard-drive location may differ. Accept the hard-drive default for backing up. Click

5. Click

, then

6. A window appears that says This company backup will require approximately 1 diskette. (If students are backing up to USB flash drive, this window appears. If backing up to the default hard-drive location, this window does not appear.)

Click

. When the window prompts Please insert the first

disk, click . When Back Up Company scale is 100% complete, you have successfully backed up the sample company.

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Follow these steps to see the size of the backup file. 1. Right-click

; left -click Open Windows Explorer. In Windows 7

the folder icon on the Taskbar also opens Windows Explorer. (Hint: The textbook was written with Windows 7. If you are using a different Windows operating system, your start button differs.) 2. Select your USB drive (or the location where you backed up Bellwether Garden Supply). The Name of the file is bgs.ptb; the size of the file is 3,540 KB;3 and File Type is PTB File. Compare this information to the bcs folder on your hard drive, network drive, USB drive, or DVD. Your backup size may differ.

Refer to the chart on pages 2 and 3 for back up sizes. Sage 50 backs up to the current point in the data. The author suggests backing up to a USB flash drive, CD-R, DVD-R, or hard drive location. Follow these steps to exit Sage 50: 1. Close Windows Explorer. 2. From Sage 50’s menu bar, click File; Exit. You are returned to the desktop.

The size of your backup file may differ.

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COPYING THE BCS FOLDER TO A CD-RW OR DVD-RW DRIVE The instructions on pages 10 - IMK to 13 - IMK (textbook pages 22-25) show how to use Sage 50's Back Up feature. Sage 50's Back Up feature works with Restore, which is shown on pages 17 - IMK to 21 - IMK (textbook pages 29-32). Would you prefer that students copy all the company data files or Bellwether Garden Supply hard-drive folder? 1. Go to your Windows desktop. 2. Put your CD-R or DVD-R into the appropriate drive. In this example, Roxio Easy Media Creator is being used to copy files to a DVD-R. An AutoPlay window appears.

3. Select Add Files, then Data Disc.

4. Right-click

; left-click Open Windows Explorer. (Hint: In

Windows 7, the folder icon

also opens Windows Explorer.)

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5. Select the location of the BCS folder: C:\Sage\Peachtree\Company\Sample\PCWE (or \PCWS).

6. Copy/Paste or Drag Drop the BCS folder to the Easy Media Creator window. (Your window may differ. The Author is using Roxio Easy Media Creator software.)

7. Click to continue. The Project Running window appears while the folder is being copied to the CD-R or DVD-R. When the drive opens, the file is copied. Click , close the Easy Media Creator window. Do not save the current Data Disc project. 8. Close the Windows Explorer window.

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USING WINDOWS EXPLORER To see the size of the folder you copied, follow these steps. 1. Close your CD or DVD drive. When the AutoPlay window appears, select Open folder to view files using Windows Explorer. 2. On the CD or DVD drive window, there is a Files Currently on the Disc (1) area. Right-click on the BCS folder. Left-click Properties. The BCS Properties window appears. The Location and Size of the BCS folder is shown. (Your file size may differ.) 3. Click

to close the BCS Properties window.

USING SAGE 50’S RESTORE WIZARD

In order to start where you left off the last time you backed up, use Sage 50’s Restore Wizard. The instructor may prefer that students use Windows Explorer to copy/paste instead of Sage 50’s Restore feature. Students are reminded to check with their instructor on the preferred method. This textbook shows Sage 50’s Restore Wizard. Follow these steps to use Sage 50’s Restore Wizard. 1. Start Sage 50. (Hint: If another company opens, from the menu bar select File; Close Company to go to the startup window.) Open the sample company, Bellwether Garden Supply.

The arrow indicates a video at http://www.mhhe.com/yacht2013. Select Student Edition; Chapter 1, Videos, Restore.

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Read Me: What if Bellwether Garden Supply is not shown as an existing company or when you select Explore a sample company? Some schools delete company folders from the hard drive. For example, you have a back up file but the company, Bellwether Garden Supply, is not listed as a Sage 50 company. Follow these steps to restore a company from a backup file. 1. If necessary, click File; Close Company to go to the Startup window. To double check that Bellwether is not listed, select Open an existing company. Make sure Bellwether Garden Supply is not listed in the Company Name list. Click . 2. The startup window shows four menu bar options— . Select File; Restore. 3. Browse to the location of your backup file, select it. Click <Next>. 4. Restore A New Company. Compare your Select Company window with the one shown on textbook page 31 step 8. Select A New Company and the Company Name field shows Bellwether Garden Supply; click <Next>. Continue with step 10, textbook page 31.

2. Insert your USB flash drive. The steps that follow assume you are restoring from a USB drive. 3. From the Navigation Bar, click

. Click

. The Select Backup File window appears. Click . 4. The Open Backup File window appears. In the Look in field, select the location of your USB drive. Select the bgs.ptb file.

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6. The Restore Wizard – Select Backup File window appears showing the location of your backup file, X:\bgs.ptb. (Substitute X for your drive letter.)

7. Click

8. The Select Company window appears. Observe that An Existing Company is the default. The Company Name field shows Bellwether Garden Supply and the Location shows Bellwether’s location. Your Location field may differ.

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Chapter 1

9. Read the information on the Select Company window; click . 10. The Restore Options window appears. Make sure that the check mark is next to Company Data.

11. On the Restore Options window, click

12. The Confirmation window appears. The From field shows the USB drive location of the backup file. The To field shows the default installation location (your location may differ).

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13. Read the information on the Confirmation window, then click . Your backup data starts to restore. When the scale is 100% complete, the Bellwether Garden Supply data is restored. A window prompts that you can use this company in the student version of Sage 50 for the next 14 months and then it will expire.

Click . The Bellwether Garden Supply - Sage 50 Accounting window appears. Once Bellwether’s files are restored, you are ready to continue using the sample company. Remember before your students exit SCA, they should make a backup of their work. You may find a lecture outline helpful in organizing your presentation of Chapter 1. The Instructor’s Manual and Key includes a lecture outline for each chapter in the textbook, end-of-chapter report printouts, answers to the QA templates and analysis questions, going to the net exercises, and completed assessment rubrics. LECTURE OUTLINE FOR CHAPTER 1: INTRODUCTION TO BELLWETHER GARDEN SUPPLY A. Learning Objectives, page 5 (page numbers refer to the textbook). B. Mouse and Keyboard Basics, page 5 1. Using the Mouse, page 6 2. Using the Keyboard, page 6 3. Using Shortcut Keys, pages 6-7

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C. SCA's Startup Window, pages 7-8 D. The Windows Interface, pages 8-10 E. Typical SCA Windows, pages 11-13 F. The Sample Company: Bellwether Garden Supply, page 14 G. Getting Started, pages 14-16 H. Display Product Information, pages 16-18 I. Setting Global Options, pages 18-19 J. Sage 50's User Interface, page 20 K. Chart of Accounts, pages 21-22 L. Backing Up Bellwether Garden Supply, pages 22-26 M. Copying the BCS Folder to a CD-RW or DVD-RW Drive, pages 26-28 N. Using Windows Explorer, pages 28-29 O. Using Sage 50’s Restore Wizard, pages 29-33 P. Menu Bar, pages 33-37 Q. Becoming an Employee of Bellwether Garden Supply, pages 37-40 1. Adding Yourself as an Employee, pages 40-41 R. Back Up Chapter 1 Data, pages 41-42 S. Add Your Name to Reports, page 43 1. Troubleshooting (A): Why does the Directory field change?, page 44 2. Troubleshooting (B): Why do I get a Sage 50 Add-on message?, page 45

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T. Exporting Sage 50 Reports to Microsoft Excel, pages 45-47 U. Saving Employee List as an Adobe PDF File, pages 47-48 V. Manual vs. Computerized Accounting, pages 48-50 W. Online Learning Center (OLC): pages 50-51 Go online to www.mhhe.com/yacht2013, Student Edition, Select Chapter 1 1. Quizzes: Multiple Choice and True/False. 2. QA Templates: True/Make True questions and Analysis Questions 3. Feature Quizzes: Review user interface, business process, and accounting principles. 4. Videos: Global Options, Backup, Restore 5. Narrated PowerPoints 6. Going to the Net: Accounting career research 7. Assessment Rubric: review user interface, modules, journal entries, tasks, and reports. The OLC also includes links to the Appendixes:    

Appendix A: Troubleshooting Appendix B: Accounting Information Systems Appendix C: Review of Accounting Principles Appendix D: Glossary of Terms (words that are boldfaced and italicized in chapter)

X. Exercise 1-1, page 51 Y. Exercise 1-2, pages 51-52 Z. Chapter Index, pages 53-54

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SOLUTION TO EXERCISE 1-1 Students are asked to restore the Chapter 1.ptb file. This backup was made on textbook pages 41-42. After restoring data, students continue with Exercise 1-2. SOLUTION TO EXERCISE 1-2 (1)5 Students add the following new employee: Employee ID: Name: Address: City, ST Zip:

MWOOD Matthew Wood 3132 East Peachtree Blvd. Atlanta, GA 30307

The directions for adding a new employee are on textbook page 37-41, Becoming an Employee of Bellwether Garden Supply. Students are also reminded to back up Exercise 1-2. The suggested file name is Exercise 1-2.ptb. The Employee List is shown below. (Employees & Payroll Tasks; select , View and Edit Employees.)

The number in parenthesis refers to the step number in the textbook.

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SOLUTION TO EXERCISE 1-2 (2) – Employee List

In Chapter 1 and Exercise 1-2, students added two employees: their first and last name (shown as CYACHT, Yacht, Carol, above), and MWOOD, Wood, Matthew).

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ANSWERS TO GOING TO THE NET6 Access the Welcome to Careers in Accounting website at http://www.careers-in-accounting.com/. Read the article Welcome to Careers in Accounting. 1. List four activities that accountants engage in (not including recording transactions and preparing financial statements). Accountants engage in a wide variety of activities besides preparing financial statements and recording business transactions including computing costs and efficiency gains from new technologies, participating in strategies for mergers and acquisitions, quality management, developing and using information systems to track financial performance, tax strategy, and health care benefits management. 2.

Approximately how many people join public accounting firms each year? Over 20,000 people join public accounting firms in entry level jobs each year.

What key factors contribute to being hired as an accounting? Key hiring factors are major in college, communication skills and your grades.

Access Sage’s North American website at http://na.sage.com; select the Product and Services tab. 1. List Sage’s start-up and small business accounting software products. Include former name. Sage One Sage 50-U.S. Edition (formerly Sage Peachtree) Sage Simply Accounting (becoming Sage 50-Canadian Edition) 6

The textbook website at http://www.mhhe.com/yacht2013 has a link to Textbook Updates. Check this link for updated Going to the Net exercises.

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2. List Sage’s midsized and large business Accounting and Enterprise Resource Planning solutions. Include the former name. Midsized Businesses: Sage 100 Contractor (formerly Sage Master Builder) Sage 100 ERP (formerly Sage ERP MAS 90 and 200) Sage 100 Fund Accounting (formerly Sage Fund Accounting) Sage 300 Construction and Real Estate (formerly Sage Timberline Office) Sage 300 ERP (formerly Sage ERP Accpac) Sage 300 Trade Specialty (Formerly Sage Timberline Enterprise) Sage Estimating (formerly Sage Timberline Estimating) Larger Businesses: Sage 500 ERP (former Sage ERP MAS 500) Sage ERP X3 3. To learn more about the name change from Peachtree to Sage 50, go online to http://na.sage.com/sage-50-accounting-us/lp/BecomingSage50/?isnow=sage50us ANSWERS TO TRUE/MAKE TRUE QUESTIONS, CHAPTER 1 The Online Learning Center (www.mhhe.com/yacht2013) has a link to QA Templates which includes the chapter questions and chapter analysis questions. 1.

2. 3.

If the menu bar shows an underlined letter, hold down the <Ctrl> key and that letter to make a selection. If the menu bar includes an underlined letter, hold down the <Alt> key and the underlined letter to make a selection. Sage 50’s modular design is similar to other accounting software applications. True. Sage 50’s Restore Wizard allows you to restore existing companies only. There are two options when restoring Sage 50 backup files: 1) restore An Existing Company, or 2) restore A New Company. (See the Read Me box on page 18 - IMK for more information; this is also shown on textbook page 29.)

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4. 5. 6.

7. 8. 9.

10.

Chapter 1

The extension used for Adobe files saved in this chaptr is .xlsx. The extension used for Adobe files is .pdf not .xlsx. (.xlsx is the extension used for Excel 2007 and 2010 files) In this book, angle brackets are used to indicate individual keys on the keyboard; for example <Tab>. True. You can close the application you are working with by single clicking with the mouse on the close button ( ). True. The Business Status Navigation Center is also called the dashboard. True. In SCA, some icons are common to all windows while other icons are specific to a particular window. True. The Navigation Bar is located at the bottom of most Sage 50 windows. The Navigation Bar is located on the left side of most Sage 50 windows. The extension used for Sage 50 backups is .pdf. The extension used for Sage 50 backups is .ptb. (.pdf is the extension used for Adobe files.)

ANSWER TO ANALYSIS QUESTIONS 1.

How many active menu bar selections does Sage 50 Complete Accounting 2013 have? List the menu bar selections that are available. SCA has 10 active menu bar selections which include: File, Edit, Lists, Maintain, Tasks, Analysis, Options, Reports & Forms, Window, Help.

What is the Navigation Bar? Briefly describe its function. Sage 50’s Navigation Bar includes seven selections: Business Status, Customers & Sales, Vendors & Purchases, Inventory & Services, Employees & Payroll, Banking, and System. These selections open the Navigation Center pages.

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ASSESSMENT RUBRIC Complete the Assessment Rubric online at www.mhhe.com/yacht2013; Student Edition, select Chapter 1, Assessment Rubric link. To review Sage 50's journals, navigation centers, modules, and task windows, and reports complete the blank fields online. The assessment rubrics are also included in the chapter PowerPoint slides. Chart of Accounts or Account List Navigation Bar/Navigation Center Business Status, link to View Account List

Account ID 10200 11000 14000

Description Regular Checking Account Accounts Receivable Prepaid Expenses

15500

Buildings

20000

Accounts Payable Common Stock

39003 40000-AV 50000-AV 57500

Sales - Aviary Product Cost Aviary Freight

Type Cash Accounts Receivable Other Current Assets Fixed Assets Accounts Payable Equity-does not close Income Cost of Sales Expenses

Running Balance $23,389.83 $175,383.01 $14,221.30 $185,500.00 ($80,626.01)* ($5,000.00) ($51,652.86) $20,821.45 $50.00

*Parentheses indicate a credit balance. ONLINE LEARNING CENTER: http://www.mhhe.com/yacht2013 The Online Learning Center includes additional student and instructor resources for each chapter. Go online to http://www.mhhe.com/yacht2013 to see some of the resources for students and instructors. To obtain the password for the Instructor Edition, contact your McGraw-Hill sales representative (http://catalogs.mhhe.com/mhhe/findRep.do). The Online Learning Center works similarly in each chapter. In the

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information below, Chapter 1’s OLC is used as an example. Information Center 1. After going online to http://www.mhhe.com/yacht2013, the following Information Center links are included.             

Academic Site License About the Author Book Preface What's New Feature Summary Sample Chapter Supplements Table of Contents Conference Schedule Troubleshooting (Appendix A) Frequently Asked Questions Install Sage 50 17th Edition

2. You may want to look at the Troubleshooting and Frequently Asked Questions. Student Edition 1. The Student Edition link includes a Choose a Chapter field. Select Chapter 1. Quizzes and More Resources populate. 2. The Course-wide Content for each chapter includes the following links: o Accounting Information Systems (Appendix B) o Accounting Principles Review (Appendix C) o Glossary (Appendix D) o Videos - This is a link to Sage 50 software videos. o Text Updates - Check this link for textbook updates. o Practice Set: This is a source document practice set. It includes merchandising business documents which are best completed after Chapter 15.

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3. The Quizzes for each chapter include: o Interactive multiple choice quizzes. They are graded and can be emailed to the instructor. o Interactive true or false quizzes. They are graded and can be emailed to the instructor. 4. More Resources includes the following links. o QA Templates include the end-of-chapter True/Make True, Multiple Choice, and Short Answer questions in the textbook's Summary and Review section. The QA templates also include the end-of-chapter analysis questions. Students can open or save the QA Templates Word file, then attach answers to their instructor. o Feature Quizzes include a review of the user interface, accounting principles and business processes. The feature quizzes provide immediate feedback to each answer. o Videos include step-by-step videos showing Sage 50 features. They can be viewed using an Internet browser, iPad, or iPod. In Chapter 1 the videos are Global Options, Backing up, and Restoring data. o PowerPoint Presentations for each chapter. o Going to the Net Exercises are shown in the Summary and Review section of the textbook. o Assessment Rubric are also in the Summary and Review section of the textbook. They can be completed online and emailed to the instructor for grading purposes. Instructor Edition The instructor Edition is password-protected. In order to obtain a password, contact your McGraw-Hill sale representative http://catalogs.mhhe.com/mhhe/findRep.do. Once you are registered for the Instructor Edition site, numerous resources are available. 1. In the Choose a Chapter field, select Chapter 1. This populates the Instructor Resources, Course-wide Content, Quizzes, and More Resources lists. 2. The Instructor Resources list includes the following links:  Email Author

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

 

Chapter 1

Install Sage 50 Academic Site License (for multi-user Sage 50 version) Syllabi: 12 and 15-week syllabi for on-ground classes, syllabi for online classes, an Accounting Information System and Sage 50 syllabus, and a QuickBooks and Sage 50 syllabus. Instructor's Manual: The Instructor's Manual includes Learning Objectives, Sage 50 Tips, printouts of Sage 50 reports, answers to analysis questions, answers to assessment rubrics, and endof-chapter exercises. Additional material is also included in the front matter and appendixes. The Instructor's Manual is a PDF file and all of it or parts can be printed. Solution Files and Sage 50 Backups: These are all the files backed up in the book -- Chapters 1-18, Projects 1, 2, 3, 4 and the practice set. The .ptb backup files are zipped and need to be extracted using WinZip. Adobe PDF Files: These are the Sage 50 reports saved as PDF files. Excel Reports: These are the Sage 50 reports saved as Excel files. The file extension is .xlsx. If you are using Excel 2003, Excel 2007 files can be opened after you download Microsoft’s compatibility pack. This website, http://support.microsoft.com/kb/923505, includes information about how to install the Microsoft Office Compatibility Pack so that you can use earlier versions of Excel, PowerPoint, and Word to open and to save files from 2007 and 2010 Office programs.

 

Instructions: This is a Word file that explains how to use the Online Learning Center's password-protected Instructor Edition and the Instructor's Resource CD, ISBN No. 007763201X. QA Templates Answers: This includes the answers to the Summary and Review true/make true, multiple choice, and shortanswer questions and Analysis Questions. The QA Template Answers are also included in the Instructor's Manual. Test Bank: A test bank includes multiple-choice and true/false questions that are written for Chapters 1-18. These are additional objective questions and have not been used before. Text updates: Check this link for updates to the textbook.

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

Assessment Rubric Answers: There is an Assessment Rubric chart at the end of each chapter. This link shows the completed rubric. The Assessment Rubric Answers are also included in the Instructor's Manual.  Practice Set: This is a source document practice set for a merchandising business. It could be used after Chapter 15. 3. Course-wide Content includes these links.  Glossary  Videos  Text Updates  Practice Set 4. Select Chapter 1 and additional resources are available:  Instructor Resources: Chapter 1's Instructor's Manual and PowerPoint Presentation.  Quizzes: Interactive Multiple Choice and True False quizzes.  More Resources: QA Templates, Features Quizzes, Videos, PowerPoint Presentations, Going to the Net, and Assessment Rubric. SOLUTION FILES The Solution Files are located at http://www.mhhe.com/yacht2013; Instructor Edition link. For a username and password for the Instructor Edition website, contact your McGraw-Hill sales representative. To locate your sales representative, go online to http://catalogs.mhhe.com/mhhe/findRep.do. The Solution Files are also included on the Instructor Resources CD (ISBN 007763201X). There are a couple ways to use the Solution Files: 1. The Solution Files could be used as starting data. The chart on textbook page 2 shows the page number where each Part 1 (Chapters 1 through 8) backup is completed. For example, let’s say you want students to complete Chapters 1, 2, and 3, but skip Chapters 4 and 5. Students could restore the Exercise 5-2.ptb solution made on textbook page 188 to continue with Chapter 6 on page 191. 2. If students need help with their work, have them restore the

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appropriate solution file. Appendix B, How to Use the Solution Files, on pages 475 - IMK - 478 - IMK includes detailed steps for using the solution files completed in Chapters 1-18 and Projects 1-4. The chart on the next page shows the Chapter 1 backups (.ptb), Excel files (.xlsx), and files saved Adobe (.pdf). Backup (.ptb) Chapter Excel (.xlsx) and Adobe (.pdf) 1 bgs.ptb8 Chapter 1.ptb Chapter 1_Employee List.xlsx Chapter 1_Employee List.pdf Exercise 1-2.ptb Exercise 1-2_Employee List.xlsx Exercise 1-2_Employee List.pdf Exercise 1-2_Chart of Accounts.xlsx Exercise 1-2_Chart of Accounts.pdf

Kilobytes7 3,540 KB 3,594 KB 14 KB 68 KB 3,575 KB KB 7 KB 17 KB 13 KB

Textbook Page Nos. 23-25 41-42 45-47 47-48 52 52 52 52 52

Sage 50 backup files are identified with the extension .ptb; Excel 2007 and 2010 files include the extension .xlsx (.xls for Excel 2003); Adobe files include the extension .pdf.

Backup file sizes may differ. This is the first backup and includes starting data for Bellwether Garden Supply.

The McGraw-Hill Companies, Inc., Computer Accounting with Sage 50 Complete Accounting 2013, 17e

CHAPTER 2 VENDORS Chapter 2 introduces students to the basic way that SCA works with vendor transactions. The first thing the students do is select from the Navigation Bar to go to the Vendors & Purchases Navigation Center. After recording a purchase order, students record a vendor invoice using the Purchases/Receive Inventory window. The Purchases/Receive Inventory window is also the Purchase Journal. The Apply to Purchases tab is the default. The lower half of the window shows fields for Quantity, Item (inventory items), Description, GL Account, Unit Price, Amount, and Job. The default for the A/P Account is 20000, Accounts Payable. The Purchases/Receive Inventory window looks like a purchase order. Similar to other SCA windows, the icon bar appears at the top of the window. When Bellwether Garden Supply orders and receives inventory from vendors, Account No. 12000, Inventory, is debited. Accounts Payable and the vendor account are credited. Vendors offer Bellwether a purchase discount for invoices paid within the discount period. The program defaults to 2% 10, Net 30 Days for purchase discounts. Sage 50 is a double-entry accounting system. There is a selection in Options; Global that allows general ledger accounts to be hidden. This is called Accounting Behind the Screens. The SCA windows in the textbook show the general ledger accounts. To check the Accounting Behind the Screens settings, do the following: 1. From the menu bar, click Options, then Global. The Accounting tab should be selected. If necessary, click on the radio button next to Manual to select it. The Number of decimal places should be 2.

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2. The boxes in the section Hide General Ledger Accounts must be unchecked. (If necessary, click on the boxes to uncheck them.)

3. Observe that two boxes need to be checked in the Other Options section: Warn if a record was changed but not saved and Recalculate cash balance automatically in Receipts, Payments, and Payroll Entry. Make sure both of these Other Options boxes are checked. 4. Click on the General tab. Make sure the Line Item Entry Display has 2 Line selected; and that the Smart Data Entry area has three boxes checked.

5. Click

LEARNING OBJECTIVES 1.

Restore data from Exercise 1-2. This backup was made on textbook page 52. (Refer to the Read me box on page 37 - IMK.)

Enter a purchase order.

Apply receipt of inventory to existing purchase order.

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Enter and post a vendor invoice in the Purchases\Receive Inventory window.

Go to the Payments window to pay a vendor.

Print a check in payment of the vendor invoice.

Add a Terms column to the Vendor Ledgers report.

Analyze payments and vendor credit memos.

Export the Vendor List and Vendor Ledgers to Excel.

10.

Save the Vendor List and Vendor Ledgers as PDF files.

11.

Make two backups, save two Excel files, and save four PDF files.1

Read Me: Do your students need to restore? If your students are completing their Sage 50 work in the computer lab or classroom, they should restore backup files from their USB drive (or other location). In order for the student to start where they left off the last time data was backed up, use the restore feature. If students are working on their own computer or laptop, they probably can skip restore. For example, in Chapter 2 students added the vendors, Armenta’s Landscaping and Office Supplies & More. The Vendor Ledgers report should show a zero balance for both Armenta’s Landscaping and Office Supplies & More, Students should display the Vendor Ledgers to make sure they are starting in the correct place in the data. If the two vendors were added, and their balances are zero, students could continue work without restoring. If students are taking this course online, they probably do not have to restore each time it is shown in the textbook. Their PCs or laptops will accumulate Sage 50 data as they work through the book. The author suggests that students restore periodically. What should the instructor do? You may want to include in your syllabus whether or not you want students to restore backup files each time it is shown in the textbook. It may depend on whether students are working onground in the classroom or online on their own computers. Backing up data is important. The author suggests students back up their data as shown in the textbook. Having a backup file insures that students could start at an earlier point in the data, if needed.

Refer to the chart on page 2 - IMK for the size of backups and saved Excel and PDF files.

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SCA TIPS, CHAPTER 2

 If the Purchase Orders, Purchases/Receive Inventory, Payments, or Sales/Invoicing windows do not show the general ledger accounts for the accounts payable, accounts receivable, and GL account fields, your students need to check their global settings. To show general ledger accounts on the Payments window and Purchases/Receive Inventory window, see textbook pages 18–19 (Chapter 1, Setting Global Options) and textbook pages 60-61 (Chapter 2). The Vendor windows (Purchase Orders, Purchases/Receive Inventory, and Payments) and Customer windows (Sales Orders, Sales/Invoicing and Receipts) in Computer Accounting with Sage 50 Complete Accounting 2013, 17th Edition, show the accounts payable, accounts receivable, and G/L account fields.  Sage 50 includes the special journals; for example, the Payments window is the Cash Disbursements Journal; the Purchases/Receive Inventory window is the Purchase Journal.  Once global options are set for one company, they are in effect for all Sage 50 companies. In Chapter 3, Customer Transactions, if the Receipts or Sales/Invoicing window does not show a G/L account field, students should check that the global options are set correctly.  In Windows 7 and Vista, the computer owner is identified when files are backed up or saved. To see which user saved the file, right-click on the Start button, left-click Open Windows Explorer, or Explore (Vista). Go to the location of the backup file; right-click on the filename, leftclick Properties. The Security tab shows the Group or user names; the Details tab shows the Owner and Computer name. The time and date is also shown. The same steps can be used to check .ptb files (extension used for Sage 50 backups); Excel files (.xlsx and .xls extensions); and Adobe files (.pdf extensions), and Word files (.docx and .doc extensions). To verify student files, you may want to look at the file properties. LECTURE OUTLINE FOR CHAPTER 2: VENDOR TRANSACTIONS A. Learning Objectives, page 55 (page numbers refer to the student textbook). B. Getting Started, page 56

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C. Restoring Data from Exercise 1-2, pages 56-57 D. Accounts Payable System, pages 57-60 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

The Purchase Order Window, page 60 Changing Global Settings for Accounting Behind the Screens (and recording a purchase order), pages 60-64 Printing Purchase Orders, pages 64-66 Receive Inventory from a Purchase Order, pages 66-68 Apply to Purchase Order, pages 68-69 The Purchases\Receive Inventory Window, pages 69-70 Adding a New Vendor, pages 71-73 Entering a Vendor Invoice, pages 73-74 Editing a Journal Entry, page 74 Posting a Purchase Transaction, page 75

E. Vendor Payments, pages 76-78 F. Printing Checks, pages 78-81 G. Displaying the Vendor Ledgers, pages 81-82 H. Vendor Credit Memos, pages 82-84 I. Backing Up Chapter 2 Data, page 85 J. Export Two Sage 50 Reports to Excel, pages 85-87 K. Save Vendor List and Vendor Ledgers as PDF Files, pages 87-88 L. Online Learning Center, page 88 Complete the following end-of-chapter activities online at www.mhhe.com/yacht2013; select the Student Edition, Chapter 2. 1. Interactive Multiple-Choice and True/False questions. 2. Going to the Net exercise: Internet Corporation for Assigned Names and Numbers. 3. Feature Quiz: review user interface and accounting principles. 4. QA Templates: 10 multiple-choice questions and one analysis question. The McGraw-Hill Companies, Inc., Computer Accounting with Sage 50 Complete Accounting 2013, 17e

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5. Assessment Rubric: review journals, navigation centers, modules, and task windows. 6. Listen to narrated PowerPoint slides. The OLC also includes links to the Appendixes:    

Appendix A: Troubleshooting Appendix B: Accounting Information Systems Appendix C: Review of Accounting Principles Appendix D: Glossary of Terms (words that are boldfaced and italicized in chapter)

M. Exercise 2-1, page 89 N. Exercise 2-2, pages 89-90 O. Chapter 2 Index, page 91 SOLUTION TO EXERCISE 2-1 (3)2

The number in parentheses refers to the instruction number in the textbook.

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SOLUTION TO EXERCISE 2-1 (4)

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Chapter 2

SOLUTION TO EXERCISE 2-2 (1)

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SOLUTION TO EXERCISE 2-2 (3)

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Chapter 2

SOLUTION TO EXERCISE 2-2 (4)

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SOLUTION TO EXERCISE 2-2 (4) (Concluded)

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Chapter 2

SOLUTION TO EXERCISE 2-2 (5)

NOTE: The Check Your Figures on textbook page 90 shows the amounts for the two purchase orders shown in Chapter 2, page 65 (Purchase Order No. 101) and page 67 (Purchase Orders window, PO No. 10300).

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EXPORT TWO SAGE 50 REPORTS TO EXCEL Textbook pages 85-87 shows detailed steps for exporting two Sage 50 reports to one Excel file. When exporting more than one report to Excel, select Add a new worksheet to an existing Microsoft Excel workbook on Sage 50’s Copy Report to Excel window. Then, browse to the location of the appropriate file. The Copy Report to Excel window is shown at the top of textbook page 87 (below step 8, textbook page 86).

In Chapter 2, the two Sage 50 reports, The Vendor List and Vendors Ledgers, are exported to one Excel file. The file name is Exercise 22_Vendor List and Ledgers.xlsx. (Excel 2003 files end in the extension, .xls.) VENDOR LEDGERS AND PURCHASE ORDER REGISTER SAVED AS A PDF FILES In Exercise 2-2, students save the Vendor Ledgers and Purchase Order Register as PDF files.

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Chapter 2

ANSWERS TO GOING TO THE NET3 Access information about the Internet Corporation for Assigned Names and Numbers (ICANN) at http://www.icann.org/en/resources/registries/about. 1. What is a TLD and gTLD? The right-most label in a domain name (for example, www.icann.org) is referred to as its "top-level domain" (TLD). TLDs with two letters have been established for over 240 countries and external territories and are referred to as "country-code" TLDs or "ccTLDs." TLDs with three or more characters are referred to as "generic" TLDs, or "gTLDs." The responsibility for operating each gTLD (including maintaining a registry of the domain names within the gTLD) is delegated to a particular organization. These organizations are referred to as "registry operators" or "sponsors." 2. What gTLDs are operated under contract with ICANN? .aero, .biz, .cat, .com, .coop, .info, .jobs, .mobi, .museum, .name, .net, .org, .pro, and .travel; .gov and .edu are also available. 3. What types of gTLDs are there? Briefly explain sponsored and unsponsored gTLDs. Generally speaking, an unsponsored gTLD Registry operates under policies established by the global Internet community directly through the ICANN process. Unsponsored gTLDs include .biz, .com, .info, .name, .net, .org, and .pro. A sponsored gTLD (sometimes called an sTLD) is a specialized gTLD that has a sponsor representing a specific community that is served by the gTLD. The sponsor carries out delegated policy-formulation 3

The textbook website is http://www.mhhe.com/yacht2013; link to Textbook Updates. Check this link for updated Going to the Net exercises.

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responsibilities over many matters concerning the gTLD. Sponsored gTLDs include .aero, .cat, .coop, .jobs, .mobi, .museum, and .travel. Entities wishing to register domain names in a sponsored gTLD are required to meet certain eligibility requirements. ANSWERS TO MULTIPLE-CHOICE QUESTIONS, CHAPTER 2 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

a (The place specified for the USB drive) c (Purchase discounts) c (a or b) b (So that others working in your company can determine a vendor code from the company name.) d (To request items from a vendor) d (Is case sensitive) a (Maintain Vendors) a (Drill down) d (debit, Materials Cost; credit, Accounts Payable/Armenta's Landscaping) b (Credits & Returns; New Vendor Credit Memo)

ANSWER TO THE ANALYSIS QUESTION With the Vendors & Payables Navigation Center serving as the starting point to perform tasks related to Accounts Payable, list five Vendors & Purchases Tasks. Briefly describe the Vendor Management tab. ANSWER: The Vendors & Purchases Navigation Center displays information and access points related to the company’s vendors and purchases. 1) The Vendors & Purchases Tasks provides a graphic representation of the flow of vendor-related tasks, as well as access to those tasks. It also provides access to windows where you enter/maintain vendor information. The Vendors & Purchases workflow diagram is shown on the next page.

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2) A summary of vendor information; for example, link to View Detailed List. 3) Access to vendor reports. For example, a link to View All Vendor & Purchases Reports. 4) An overview of the company’s aged payables. You can also link or drill down to various areas. 5) Sage 50 solutions include drill down to Checks & Forms and Online Bill Pay. 6) On the Vendor Management tab, you can see lists of information regarding transactions and history for a particular vendor, including purchase orders, purchases, and payments. This is where you want to go to see information about a particular vendor.

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ANSWER TO THE ASSESSMENT RUBRIC Date Transaction 3/15/13 Invoice No. H788 was received from Office Supplies & More for the purchase of five boxes of letter-size file folders, $10.95 each. 3/18/13 Pay Office Supplies & More for Invoice H788, $53.65

Navigation Journal Center/Module Task window Dr./Cr. Purchases/Receive Purchase Journal Vendors & Inventory Purchases; Dr. 71000, Office Enter Bill, New Expense, $54.75 Bill Accounts Payable Vendors & Purchases; Pay Bills, Pay Bill

Payments

Accounts Payable

Cr. 20000, A/P, Office Supplies & More, $54.75 Cash Disbursements Journal Dr. 20000, A/P, Office Supplies & More, $54.75 Cr. 89500 Discounts Taken, $1.10 Cr. 10200, Regular Checking Account, $53.65

SOLUTION FILES: .ptb, .xlsx, .pdf The password-protected Instructor Edition website at http://www.mhhe.com/yacht2013 includes solutions saved in these formats: 1. Solution Files_Sage 50 backups. Chapter and exercise backups end in the extension .ptb. 2. Adobe PDF Files: Files saved as PDFs. 3. Excel Reports – Files saved as Excel, .xlsx extensions.

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The solution files, in .ptb, .pdf, and .xlsx formats, are also included on the Instructor’s Resource CD (ISBN No. 007763201X). The chart below shows the Chapter 2 solution files. Chapter 2

Sage 50 Backup (.ptb) Excel (.xlsx) and Adobe (.pdf) Chapter 2.ptb Chapter 2_Vendor List and Vendor Ledgers.xlsx Chapter 2_Vendor List.pdf Chapter 2_Vendor Ledgers.pdf Exercise 2-2.ptb Exercise 2-2_Vendor List and Vendor Ledgers.xlsx Exercise 2-2_Vendor Ledgers.pdf Exercise 2-2_Purchase Order Register.pdf

Kilobytes4 3,715 KB 21 KB

Page Nos. 85 85-87

53 KB 82 KB 3,703 KB 21 KB

87 88 90 90

68 KB 51 KB

90 90

ONLINE LEARNING CENTER: www.mhhe.com/yacht2013, Instructor Edition To obtain a username and password for the Instructor Edition, contact your McGraw-Hill sales representative. To find your sales representative, go online to http://catalogs.mhhe.com/mhhe/findRep.do. The Instructor Edition link includes answers to the following OLC student activities:         

QA Templates answers (includes answers to a link to the chapter questions and analysis questions. Assessment rubric answers. Suggested syllabi for online and onground classes. Test bank for each chapter. Instructor’s Manual Bellwether Garden Supply Project (to be completed after Chapter 7) Practice Set (after Chapter 15; source documents, merchandising business) Email author link Links to email author, academic site license, solution files (.ptb, xlsx, and pdf)

Backup sizes may differ.

The McGraw-Hill Companies, Inc., Computer Accounting with Sage 50 Complete Accounting 2013, 17e

CHAPTER 3 CUSTOMERS Chapter 3 introduces the student to the basic way that SCA works with customer transactions. Students learn about quotes and sales orders, and how the information entered into customer maintenance windows is used when entries are posted. For example, in the Maintain Customer window, a range of days is set within which a customer can receive a discount and a discount percentage is set. This information will print on sales invoices. The discount is automatically applied when the customers pay within the allotted time. The students can see an overview of all outstanding invoices via the Collection Manager in the Analysis menu. LEARNING OBJECTIVES 1.

Restore data from Exercise 2-2. This backup was made on textbook page 90. (Read me box below is on textbook page 56, Do I need to restore?) The Read Me box below uses the Chapter 1.ptb and Exercise 12.ptb backups as an example. This information can be applied to Chapters 2 and 3, too. In Chapter 3, the disk icon , where students check their place in the data, is on textbook page 94. Read Me: Do I need to restore? You may be able to skip restore. In Chapter 1 (page 40) and Exercise 1-2 (page 51), you

added two employees. Refer to the disk icon to make sure you are starting with the work completed in Chapter 1 and Exercise 1-2. If your employee list and Regular Checking Account’s balance agrees with Exercise 1-2, you can skip Restore. Go to the next section, Accounts Payable Tasks. If you are working in the computer lab or classroom, restore the Exercise 1-2.ptb file from your USB drive. Detailed steps are shown on pages 29-32, Using Sage 50’s Restore Wizard.

Go to the Customers & Sales Navigation Center to enter quotes and sales orders.

Enter a sales order.

Ship items from a sales order.

Enter customer terms.

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Record a sales invoice on the Sales/Invoicing window.

Print a sales invoice.

Analyze receipts and customer credit memos.

Post a receipt for previously invoiced amounts.

10.

Add a Customer Terms column to the Customer Ledgers report.

11.

Export Customer Ledgers to Excel.

12.

Save Customer Ledgers as a PDF file.

13.

Make two backups, save one Excel file, and save one PDF file.1

SCA TIPS, CHAPTER 3  If students are working on their own individual computers or laptops, they may not need to restore each time it is shown in the textbooks. As students work through the chapter work and exercises, Sage 50 accumulates the data on their computer.  If students are working in a computer lab or classroom, the author suggests that students restore data from their USB drive.  If the Sales/Invoicing window or Receipts window does not show the GL account field, see textbook page 18, step 1d, for setting global options.  Students need to record (enter the sale to a customer), post, then print Invoice No. 101 (see textbook pages 107-116) before they can enter receipts (textbook pages 117-120). LECTURE OUTLINE FOR CHAPTER 3: CUSTOMER TRANSACTIONS A. Learning Objectives, page 93 B. Getting Started, page 94 C. Accounts Receivable System, pages 94-97 1. Entering a Quote, pages 97-99 1

Refer to the chart on page 2 - IMK for the size of backups, and saved Excel and PDF files.

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2. Converting a Quote to a Sales Order, pages 100-101 3. Printing (or Displaying) a Sales Order, pages 101-103 4. Ship Items from a Sales Order, pages 103-104 D. The Maintain Customers/Prospects Window, pages 104-105 1. Entering a Discount for a Customer, pages 105-107 2. Entering a Sale to a Customer, pages 107-111 3. Distributing Against a Specific Account, pages 111-112 4. Discount Information, pages 112-113 E. Posting the Invoice, pages 113-114 F. Printing (or Displaying) Invoices, pages 114-117 G. Entering Receipts, pages 117-120 H. Analyzing Customer Payments, pages 120-123 I. Displaying the Customer Ledgers, pages 123-124 J. Credit Memos, pages 124-125 K. Backing Up Chapter 3 Data, page 126 L. Online Learning Center, page 126 Complete the following end-of-chapter activities online at www.mhhe.com/yacht2013; select the Student Edition, Chapter 3. 1. Interactive Multiple-Choice and True/False questions. 2. Going to the Net exercise: Internet Corporation for Assigned Names and Numbers. 3. Feature Quiz: review user interface and accounting principles. 4. QA Templates: 10 short-answer questions and one analysis question. 5. Assessment Rubric: review journals, navigation centers, modules, and task windows. 6. Listen to narrated PowerPoint slides. The OLC also includes links to the Appendixes:

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Chapter 3

Appendix A: Troubleshooting Appendix B: Accounting Information Systems Appendix C: Review of Accounting Principles Appendix D: Glossary of Terms (words that are boldfaced and italicized in the chapter)

M. Exercise 3-1, pages 126-127 N. Exercise 3-2, pages 127-128 O. Chapter index, page 129 SOLUTION TO EXERCISE 3-1 (3)

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SOLUTION TO EXERCISE 3-1 (4)

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SOLUTION TO EXERCISE 3-2 (1)

Students need to manually enter the appropriate discount: Invoice 102, $299.99 x .05 = 14.9995 (rounded up to 15.00) On the Receipts window, the Discount field shows 15.00.

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SOLUTION TO EXERCISE 3-2 (3)

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SOLUTION TO EXERCISE 3-2 (3) (Continued)

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SOLUTION TO EXERCISE 3-2 (3) (Concluded)

ANSWERS TO GOING TO THE NET Access the Financial Accounting Standards Board website at http://www.fasb.org. Select the About FASB tab; then Our People, then link to Members of the FASB. Answer these questions. 1. There are five members who serve on the Financial Accounting Standards Board full time. Board members are eligible for reappointments to one additional five-year term. (The URL for this information is http://www.fasb.org/cs/ContentServer?c=Page&pagename=FASB%2F Page%2FSectionPage&cid=1218220131802.) 2. Board members are required to sever all connections with the firms or institutions they worked for prior to joining the Board. They must possess knowledge of accounting, finance, and business, and a

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concern for the public interest in matters of financial accounting and reporting. ANSWERS TO SHORT-ANSWER QUESTIONS, CHAPTER 3 (Answers may vary.) 1.

What icon(s) can be used to display lookup lists? On some of Sage 50’s windows, the lookup icon is a down-arrow; on other windows it is a magnifying glass.

Describe three ways to open a lookup list. To open the list in any lookup field, do one of the following: a. Press the right mouse button while the cursor is in the lookup field. b. Enter a question mark <?> in the lookup field. c. Click on the magnifying-glass icon while the cursor is in the field.

If you want to look at a customer’s account, what window do you open? Describe the selections. Look at the Maintain Customers/Prospects window to view information about a customer. From the Navigation Bar, select the Customers & Sales button, then select Customers; View and Edit Customers. The Customer List window appears. Double-click on the appropriate customer. The Maintain Customers/Prospects window appears. (Or, select the Customers icon; New Customer. In the Customer ID field, click on the down-arrow. The customer list appears. Select the appropriate customer. The Maintain Customers/Prospects window appears.)

4. What is the customer identification for Teesdale Real Estale? TEESDALE. 5. What is the sales discount for Teesdale Real Estate? 5% 15, Net 30 Days

The McGraw-Hill Companies, Inc., Computer Accounting with Sage 50 Complete Accounting 2013, 17e