User Guide

Practice Session
132 Simply Accounting
Swc90wb.doc, printed on 1/3/02, at 11:14 AM. Last saved on 1/3/02 10:54 AM.
ACCPAC INTERNATIONAL, INC. Confidential
must create several new accounts. First create the accounts,
then create the inventory record.
a) Add the following accounts:
Account Number 1550
Account Description: Printers
Account Type: Group Account
Omit From Financial Statements
If Balance Is Zero: Yes
Account Class: Inventory
Account Number: 4050
Account Description: Sales -- Printers
Account Type: Group Account
Omit From Financial Statements
If Balance Is Zero: Yes
Account Class: Revenue
Account Number: 5050
Account Description: Cost -- Printers
Account Type: Group Account
Omit From Financial Statements
If Balance Is Zero: Yes
Account Class: Cost of Goods Sold
b) Create the new inventory record:
Item Number: A20
Item Description: Printer
Stocking Unit of Measure: Each
Regular Selling Price: 428.50
Preferred Selling Price: 411.50
Min. Level: 5
Asset: 1550
Revenue: 4050
Expense: 5050
Variance: 5050
3. Add a new customer: