Flya Kite FI CO Chapter

Assessment 25000 mfg is assessment 50000 nature of

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Unformatted text preview: lya Kite 45 FI/CO Transactions EXERCISE FI/CO01: CREATE GENERAL LEDGER EXERCISE B/S ACCOUNT B/S – We will create a bank account manually. A bank account is an asset account located in the Balance Sheet EXERCISE FI/CO02: CREATE GENERAL LEDGER EXERCISE GR/IR ACCOUNT GR/IR EXERCISE FI/CO03: CREATE P/L ACCOUNTS – Now that the vendor account has been created, the corresponding rent expense account is to be created in your chart of accounts using a reference account. Also, a utilities expense account is to be created. Using a reference account copies much of the detail data from the reference account to the account being created thus saving time making repetitive entries. Quarles: Flya Kite FI/CO Transactions EXERCISE FI/CO04: CREATE GENERAL LEDGER EXERCISE P&L ACCOUNTS P&L – To process billing we will need Profit & Loss Statement accounts for Sales Revenue and Sales Discounts EXERCISE FI/CO05: RUN GL ACCOUNTS REPORT – This report will give you a summary of all accounts assigned to your company code. EXERCISE FI/CO06: CREATE PRIMARY COST EXERCISE ELEMENTS ELEMENTS – Primary...
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