Analyze the terms as stated below

Closing Date VS Accounting Period

Closing Date is you key in regarding  the last date accounting period. You can see when you key in closing date 31/12/2010 automaticly the Accounting Period can change to 2011.

Accounting Period is Starting Period Accounting Year to Closing Period Accountiong Year. You can adjust the month from January to December which are 1 to 12, but the date Accounting Year automaticly change when you change Clossing Date.



Add Entry VS Quick Entry

Add Entry is a single transaction entry procuder,key in double entry one by one. You may either key in debit entry and followed by credit entry or in revers sequence.

Quick Entry is double transection entry procuder. When you enter one side of double entry, the system will generate the other side of the entry automatically. You must determine what entry can be more time to key ni as Master Account. Master account can be any double entry account and it means the account's entry will be handle by the system.



Edit VS V.Edit

Edit is you may edit single trnsection only. You point first, then you just double click for example double click on the transection you want to edit then click on Edit button , then you can change what you want to change wather the a/c discription or figure in debit or figeure in credit in just one transection.


V.Edit is you may edit multiple trnsection in a batch by cliking the V.Edit button. V.Edit founction allows user to change / edit more then 1 transection in a batch at the same window. It is faster and easier for transections editing compare with the normal Edit function.


Backup VS Restore

Backup is compression of multiple data files from Sage UBS Accounting System into one compressed file and transfer the compressed file to floppy disk / UBS flash drive or hard disk.
You must Select Diskett Drive to C drive. When do backup, the system will generate a file call backup.acc . Then you must rename  backup.acc to new file name for easy to do another backup.

Restore is decompress the compressed file  from floppy disk / UBS flash drive or hard diskin order to recover back the multiple original data files which shall be stored back into the system. Before you doing restore make sure the file name is backup.acc becouse  the system just can read backup.acc file.


Deleting Individual/Business Transaction VS Deleting All Business Transaction

Deleting Individual/Business Transaction is clear only transection and batch titles will be deleted , chart of account and opening balance shall be remain. You can chose Clear only transection-chart & b/f remain at Clear Files/Generate Sample Chart in Sage UBS Accounting System , which is option no2.


Deleting All Business Transaction is all transections, account numbers and batch titles of the data folder will be deleted when you chose option no1. which is Clear both chart of accounts & transections in  Sage UBS Accounting System.

Accounting Assumption Page. What is it all about?

Lack of information or data

Based on our experience after learning UBS system, there are many cases that we will find to do a transaction. Different companies have different kind of sources of documents.Some companies have all the data or information that an accountant needed to do a transaction for financial statement and balance sheet but some of them sometimes do not have all the documents or information that we needed. As an accountant, we suppose to know how to overcomes all the problem. For an example, documents for electricity expenses is not available due to the lost of documents. Assumptions figure is used based on the interview with the owner of the company on how much usually they spend for the electricity and ask whether on that particular months the expenses are increases or decreases.

Information or data not available

The information or data not available is actually will effect the accountant during performing their job. For an example, Pizza Hut company have many employees and some of them like to do part time job to gain more income but Pizza Hut company did not record the part time expenses salaries that they give to the employees. They just record the monthly salaries paid to the employee. In this case, if the information or data of part time expenses salaries is not informed to the accountant, it will effect the financial statement. This is because there will be excessive expenses that the accountant can't find from where it comes because there are no supporting documents that record their expenses. Assumption figure is used based on the collecting all the supporting document and ask the in charge person of Pizza Hut company to record back all the expenses  of part time salaries as a prove of their expenses.


New information that need to be inform

As we know, all the companies have the same mission which is to maximize profit and minimize their cost. The different between all the business companies are whether they operate their companies by selling product or service. There are some companies such as Takaful Insurance and Am Bank sell their service but some of companies sell their product such as Giant and Tesco. Not only that, there are also a company that sell product and service at the same time such as Auto-mobile service where they sell their service and at the same time they also sell the accessories for the cars. There is some problems will arise for the accountant to record all the transaction for the Auto-mobile company because the company have two different kind of business. The problem for them is when they want to enter the batches for the company whether they should separate the sales of they should combined the sales. Assumption figure is used by enter two kind of batches which the first one is SALES- for the product sell  and SALES(SERVICE) - for the service sell. Which means that the information assist should be inform so that if the new accountant want to refer back their financial statement, they will know where the sales come from.


EIGHTH CLASS

-LESSON 3-

The new skill for this class is Entering Closing Stock Value of RM48,218.95.
Go to G6. Maintain Stock Value -> click Add->  BS a/c-> click 10x ( the amount can be appear at the box). Then OS a/c and CS a/c... do the same way.
After that, key in at This Year Opening Stock the amount of Closing Stock Value of RM48,218.95.