N4 Computerised Financial Systems

Computerised Financial Systems Downloaded from hlayiso.com N4

Module 1 - Introduction to computers WHAT IS A COMPUTER? A computer is an electronic device that manipulates information or data. In the workplace, many people use computers to keep records, analyse data, do research and manage projects. At home, you can use computers to find information, store pictures and music, track finances, play games and communicate with others. Downloaded from hlayiso.com www.futuremanagers.com

Module 1 - Introduction to computers (continued) PHYSICAL COMPONENTS OF A COMPUTER A computer system consists of mainly five physical components, namely: • Input devices; • Processing unit; • Output devices; • Storage devices; and • Communication devices. Downloaded from hlayiso.com www.futuremanagers.com

Module 1 - Introduction to computers (continued) OPERATING SYSTEMS MS-DOS, the acronym for Microsoft Disk Operating System, is an operating system with a command-line interface used on personal computers. Downloaded from hlayiso.com www.futuremanagers.com

Module 1 - Introduction to computers (continued) WINDOWS OPERATING SYSTEM Windows XP provides the tools you need to work and play in today’s high-speed communications environment. Your toolbox includes system tools that help you set and adjust system resources, users and user groups, and scheduled system tasks. Downloaded from hlayiso.com www.futuremanagers.com

Module 2 - Applying basic Windows commands INTERNAL AND EXTERNAL COMMANDS The computer responds to commands in both the external system, such as switching on the computer using the power button as well as the internal system, such as formatting the harddrive. Downloaded from hlayiso.com www.futuremanagers.com

Module 2 - Applying basic Windows commands (continued) STARTING OF WINDOWS Startup menu options – select what you want to do: Downloaded from hlayiso.com www.futuremanagers.com

Module 2 - Applying basic Windows commands (continued) HELP AND SUPPORT Start / Help and Support / Key in what you want help with. Downloaded from hlayiso.com www.futuremanagers.com

Module 2 - Applying basic Windows commands (continued) APPLICATION PROGRAMS • Word processing; • Spreadsheets; • Access; • Publisher; • Pastel Accounting. Downloaded from hlayiso.com www.futuremanagers.com

Module 3 - Mastering the keyboard KEYBOARD TECHNIQUES Downloaded from hlayiso.com www.futuremanagers.com

Module 4 - Basic Word Processing ELEMENTARY WORD PROCESSING FUNCTIONS Elementary word processing functions include: • Creating margins; • Opening and saving a new document; • Printing a document; • Changing the font styles; • Aligning the text; and • Adding a tab Downloaded stop. from hlayiso.com www.futuremanagers.com

Module 5 - Computerised bookkeeping CHARACTERISTICS OF ACCOUNTING PACKAGE Pastel allows you to maintain as many separate companies, or set of books, as you require. With each company, you can create different users in order to gain access and work in the company (specify which areas a user can or cannot use). This allows you to control access to information. Downloaded from hlayiso.com www.futuremanagers.com

Module 5 - Computerised bookkeeping (continued) INSTALLING PROCEDURES All the requirements needed to run will be included in the package. A CD will be provided and will install automatically once the CD is inserted into the CD-ROM drive. It will take you through the installing process with the licence agreement. After installation, you need to register your accounting package / enter the product serial number and authorisation code. You only have to register your software once. Downloaded from hlayiso.com www.futuremanagers.com

Module 5 - Computerised bookkeeping (continued) USE OF ACCOUNTING PACKAGE MANUALLY The manual will take you through the different processing that needs to be done in an accounting environment. Downloaded from hlayiso.com www.futuremanagers.com

Module 5 - Computerised bookkeeping (continued) HELP FUNCTION Click on the Help button. Go to Contents/ Index/ Search/ Favorites and select the item you need help with. Downloaded from hlayiso.com www.futuremanagers.com

Module 5 - Computerised bookkeeping (continued) KEYBOARD FUNCTION KEYS Downloaded from hlayiso.com www.futuremanagers.com

Module 6 - Opening a set of accounts and input of cash and credit block transactions OPENING PARAMETERS Follow these steps to create a new set of accounts: 1. File / New / Start New Company 2. Setup / Company Parameters 3. Setup / Report Writer Categories 4. Edit / General Ledger / Accounts 5. Setup / Entry Types 6. Setup / Periods 7. Setup / Tax 8. Setup / Customers / Control 9. Setup / Suppliers / Control 10. Edit / Customers / Accounts 11. Edit / Suppliers Downloaded from hlayiso.com www.futuremanagers.com

Module 6 - Opening a set of accounts and input of cash and credit block transactions (continued) PETTY CASH TRANSACTIONS Go to: Cash Books / Petty Cash / Payments / Settings / Click This Year Transactions / Untick Repeat Description & Invoke Open Item / Increment Reference – Yes (for petty cash voucher) / Close Downloaded from hlayiso.com www.futuremanagers.com

Module 6 - Opening a set of accounts and input of cash and credit block transactions (continued) BANK RECONCILIATION In order to complete a bank reconciliation, one must compare the entries in the Cash Receipt Journal and the Cash Payment Journal with those on the bank statement. Downloaded from hlayiso.com www.futuremanagers.com

Module 6 - Opening a set of accounts and input of cash and credit block transactions (continued) PRINTOUTS Downloaded from hlayiso.com www.futuremanagers.com

Module 6 - Opening a set of accounts and input of cash and credit block transactions (continued) PRINTING AND INTERPRETATION OF GENERAL LEDGER ACCOUNTS Printing account code lists: • View/General Ledger/Listings/Accounts • View/Customers/Listings/Accounts • Suppliers’ accounts View/Suppliers/List Suppliers Downloaded from hlayiso.com www.futuremanagers.com

Module 6 - Opening a set of accounts and input of cash and credit block transactions (continued) PRINTING AND INTERPRETATION OF TRIAL BALANCES Monthly/(periodic) printouts • Trial Balance: View/General Ledger/Financial Reports/Trial Balance • Income Statement: View/General Ledger/Financial Reports/Income Statement • Balance Sheet: View/General Ledger/Financial Reports/Balance Sheet • General Ledger accounts: View/General Ledger/Transactions/Detailed Ledger Downloaded from hlayiso.com www.futuremanagers.com

Module 7 - Application of Value Added Tax (VAT) in a computerised accounting package HOW DOES VAT WORK? VAT is an abbreviation for the term Value Added Tax. It is an indirect tax based on consumption in the economy. Which is levied on goods and services. VAT is currently charged at 14% but certain goods and supplies, such as exports, are levied at zero rate of TAX. Downloaded from hlayiso.com www.futuremanagers.com

Module 7 - Application of Value Added Tax (VAT) in a computerised accounting package (continued) VAT RETURNS The purpose of a VAT return is to inform the Receiver of Revenue of how much VAT the supplier is required to pay/receive in respect of a fixed period. VAT can be paid by using various electronic methods, including eFiling, Internet banking, debit order and electronic funds transfer. Vendors can also pay at any of the four major banks. Downloaded from hlayiso.com www.futuremanagers.com

Module 7 - Application of Value Added Tax (VAT) in a computerised accounting package (continued) TAX PERIODS Vendors are required to submit returns and account for VAT to SARS according to the tax period allocated to them. Available tax periods cover one, two, four, six or twelve calendar months. Tax periods end on the last day of a calendar month. Downloaded from hlayiso.com www.futuremanagers.com

Module 7 - Application of Value Added Tax (VAT) in a computerised accounting package (continued) ACCOUNTING AND VAT Organisations that register as VAT payers must supply proof of VAT paid and VAT charged. There are two methods of doing this: • Invoice method; and • Payment method. Downloaded from hlayiso.com www.futuremanagers.com

Module 7 - Application of Value Added Tax (VAT) in a computerised accounting package (continued) VAT CONCEPTS • Zero-rated items are taxable supplies on which VAT is levied at a rate of 0%. • VAT-exempted items involve services that are not subject to VAT. • A standard-rated supply is a supply of goods or services which is subject to VAT at the rate of 14%. • VAT output is the tax on sales and income that must be paid over to SARS. • VAT input is the tax paid on items that can be claimed back from SARS. • VAT control is a summary of the VAT input and output. Downloaded from hlayiso.com www.futuremanagers.com

Module 7 - Application of Value Added Tax (VAT) in a computerised accounting package (continued) VAT CALCULATIONS VAT can be worked out as following: Price exclusive: 100% VAT: 14% Therefore, price inclusive: 114% Downloaded from hlayiso.com www.futuremanagers.com

Module 7 - Application of Value Added Tax (VAT) in a computerised accounting package (continued) ADMISSABLE DEDUCTIONS WITH REGARD TO INPUT TAX The following are admissible for VAT deductions: • Advertisements; • Insurance; • Rent; • Bank charges; • Office equipment; • Repairs and • Consumable goods; • Packing material; maintenance; • Delivery costs; • Printing and stationery; • Telephone and fax; and • Electricity and water; • Refreshment; • Vehicles. Downloaded from hlayiso.com www.futuremanagers.com