Go to General Settings and select financial settings Make sure that the tax

Go to general settings and select financial settings

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• Go to General Settings and select financial settings. Make sure that the tax defaults for both sales and purchases should read 'tax inclusive' . • Click Chart of Accounts. Xero has suggested a range of accounts for your use. The account names may be slightly different to those you need to create when you are recording. This is okay, you do not need to standardise the names. Additional accounts will need to be added. To add new accounts, Click on new accounts and complete the necessary information. • To generate the Trial Balance after recording all the transactions, go to Reports, All Reports, Trial Balance (Under Accounting Section), Choose date (31 July 2017) and Sort by Account Code, Update, Select Export as PDF (Bottom right corner of the Trial Balance). Please note: you will have a free 30 day access to Xero. If you have already registered for Xero and started your practice with creating the practice case, the 30 day access will be only applied to that practice case from the date you have created that file. To do your assignment you don't need to delete the practice and add new information, you have to create a new company for your assignment. To create a new organization in Xero, you have to click on "Home" option on the top menu (you can get access to "Home" option from Account) of Xero and then click on the green button "Add an organisation". Manual Preparation of Financial Records (7 marks) • Using the PROFORMA available on CloudDeakin, manually prepare general journal entries to enter all relevant July transactions (including adjusting entries). Narrations are not required. The PROFORMA document is located in the 'Assessment Task 3' folder. • Using the format in the PROFORMA document and prepare a stockcard for the month (this would be required to help you track ivnentory movements and calculate relevant amounts). Submission Instructions
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© Copyright Deakin University 2019. 4 Tue, 07 May 19 17:42:22 +1000 1. This assignment is to be submitted ONLINE ONLY (You are NOT required to submit a hard copy). 2. You must type your answer onto the PROFORMA document provided for the manual set. 3. The completed PROFORMA (Word/PDF) for the manual set, and the (PDF/Excel) files for the Xero set must be submitted into the allocated area on CloudDeakin under the Assessment folder. 4. You are not required to upload an Assignment Cover Sheet. You will complete a Plagiarism declaration when you access the Dropbox. 5. You are allowed to make resubmissions within the submission period. Please note that your last submission overwrites previous submissions, however, this must be submitted before the DUE DATE.
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