Specifications

2  Appendix B Computer Tutorial 3
2. In Accpac:
a. An account number, or account code, identifies the account in the chart of
accounts. It is normally a number but it can be a combination of numbers
and letters.
b. An account description, which consists of up to 60 characters, gives an
account an easily recognizable name.
c. An account type designates how the account is closed during the year end.
Balance sheet accounts balances are carried over to the next year; all income
statement accounts are set to zero; and the net of all income statement
accounts is added to the retained earnings account(s).
d. An account group is used to facilitate financial statements design.
3. The two types of accounts are balance sheet accounts and income statement
accounts. Balance sheet accounts hold information pertaining to the balance sheet
items in the chart of accounts. Income statement accounts hold information on the
income statement items. There must be at least one retained earnings account in the
chart of accounts.
4. To print the chart of accounts, select the desired print destination. On the company
desktop, click G/L Reports, then double-click the Chart of Accounts icon. Choose the
type of report desired. Then click Print.
5. Account numbers should be in a logical sequence and spaced apart. For example, a
balance sheet account should be numbered in the same sequence that appears on the
balance sheet. Similarly, an income statement account should be numbered in the
same sequence that appears on the income statement. Allowing sufficient gaps
between accounts permits future additions between accounts.
Lesson 3
1. A journal entry in Accpac consists of any number of debit and credit lines to describe
a financial transaction. A transaction with the total debit and credit amounts out of
balance can be saved. However, before it can be posted, the total debit amount must
equal the total credit amount.
2. Transaction entries can be grouped and entered into batches in Accpac. A transaction
batch is a set of related transaction entries that can be logically grouped together. An
example of a transaction batch is the set of all the transaction entries that record all
the financial events for the first two weeks of the month.
3. Click G/L Transactions on the left, then double-click the Batch List icon on the right.
The G/L Batch List window opens. In the G/L Batch List window, click the New
button. The G/L Journal Entry window opens. Enter Batch and Entry descriptions.
Enter the Date and the Year/Period. Enter the Source Code. Enter a Reference and a
Description. Enter the required accounts and enter the debits and credits as required.
After entering the entry, click Add to save the entry to the batch.
4. In the G/L Journal Entry window, click the Credit column of the second detail line
and enter 10000. Press INSERT to advance to a new line and enter the balance for the
liability account. Click Save to save the changes to the entry.
5. To change a debit entry of a transaction line into a credit entry, display the batch in
the G/L Batch List window, then double-click the batch to open the G/L Journal
Entry window. Locate the entry you want to change and select it. Move the cursor to
the Debit column for the detail line that needs to be changed, double-click it, then