Automated Accounting System Assignment: Physical Health International Technologies

ACCOUNTING INFORMATION SYSTEMS

Automated Accounting System Assignment

Physical Health International Technologies, Inc.

INTRODUCTION

This assignment involves accounting for a month of operations by Physical Health Integrated Technologies, Inc. using Microsoft Dynamics GP software.  All transactions must be recorded using the Microsoft Dynamics GP software provided with the Computerized Accounting Using Microsoft Dynamics GP 10.0 book.

The objective is to enhance the familiarity with Dynamics GP gained from the exercises that should have already been completed in the workbook.  This assignment, however, does not depend on or continue in any way the transactions of the workbook exercises.  The assignment can be completed independently by following the instructions carefully.  The instructions are very detailed; the amount of detail makes the assignment appear much longer than it actually is.

GENERAL COMPLETION AND SUBMISSION INSTRUCTIONS

• For this assignment you must do your own work; it is the take-home portion of the final exam; you are not allowed to work with anyone else.
• The Warren Sports Supply database will be used.  It is one of the companies already included with Dynamics.  Only the financial results of transactions for a new period will be graded, and they will not rely on any data already recorded for any prior period.  There is no need, however, to modify or delete any of the data already included in the Warren Sports Supply database.  Later you will change the name of the company to PHIT, Inc. to correspond to the business documents that contain transaction information.
• You will use Dynamics to record transactions based on information contained in facsimiles that represent realistic business documents.  The facsimile business documents are contained in Excel files posted on Blackboard under Instructor Materials>>Assignments>>Processing Transactions with MS Dymanics.
• Be sure to use the Excel data file version that corresponds to the last digit of your Peoplesoft ID.
• Record the transactions that are in your version of the Transaction Processing assignment.  Take care to record each transaction on the correct date.  It is very easy to forget!
• The facsimile business documents for PHIT, Inc. contained in the Excel files are in chronological order, which is the order in which they would be processed in most actual business situations.  However, processing the data in groups (purchases, followed by receipts, then sales, then cash disbursements, then cash receipts, etc.) will enhance efficiency and learning the software procedures.  Accordingly, the Excel worksheet tabs are color coded by transaction type.
• Cash disbursements do not require the issuance of a physical paper check.
• Maintenance data (i.e., customers, vendors, inventory items, etc.) can be revised at any time.  Transactions entry windows can be deleted and reopened.  However, transactions data cannot be deleted or revised after saving or posting without voiding them first.  So, take special care to record each transaction correctly from the beginning.
• No sales taxes, discounts or freight will be applied.
• You can uninstall and restart if necessary, although work completed will have to be repeated.
• Although the assignment will take some time, the instructions that follow make the assignment appear to be longer than it actually is because they are in a detailed step-by-step format to facilitate efficiency.  Follow them carefully.
• Submit income statement data to WebCT no later than the date and time specified on WebCT.  Instructions are at the end of this document.

PROCESSES

The following brief descriptions of the PHIT business processes are provided as background information only.  All transactions can be processed without referring to the processes.

Sales.  PHIT sells to most customers on account.  PHIT does not offer prompt payment or other discounts.  Neither purchases nor sales are subject to tax.  When a purchase order is received from a customer, a Sales Order document is generated in triplicate, i.e., all three copies are created simultaneously by an impact printer or by handwriting and the requested items are retrieved from the inventory.  All inventory items are stored in the warehouse.  Sales Order Copy 1 is sent to Accounting, where a clerk records the order in Dynamics and files the Sales Order document in a permanent file.  Copies 2 and 3 of the Sales Order are sent to Shipping, where the Bill of Lading is prepared, also in triplicate, when the items ship.  Copy 2 of the Sales Order and Copy 2 of the Bill of Lading are filed together in a permanent file in the Shipping Department.  Copy 3 of the Sales Order and Copy 3 of the Bill of Lading are sent to Accounting when the items ship, where a clerk records the sale in Dynamics and files the Sales Order and Bill of Lading in a permanent file.