AIN2601 Assignment 6
(COMPLETE ANSWERS) Semester
1 2025 - DUE 12 May 2025;
NO PLAGIARISM
[DATE]
[COMPANY NAME]
[Company address]
, SECTION A – COMPANY SETUP Task 1: Use the Setup Assistant to create Eyes
Above (EA) on Pastel Partner. 1.1 Use the following information (use the
default information provided, unless specific information is given): • Postal
address: PO Box 3210, Johannesburg, 2000. • Date sequence: DMY, with four
digits per year, confirm that the Sample Date format is correct i.e.
dd/mm/yyyy. • Start date of financial year (current financial year):
01/05/2025, with each period ending on the last day of the month. EA uses
one period for each month of the year. In this assignment period x of 2025
will refer to the xth period falling within the 2025 financial year which ends
on 30/04/2025 and period x of 2026 will refer to the xth period falling within
the 2026 financial year which ends on 30/04/2026. • Use the Generic Chart
of Accounts as the standard chart of accounts for EA. • EA has a current
account at First National Bank (FNB). They also use a Petty Cash account to
pay for smaller, ad-hoc expenses. • EA has two price lists – ‘Corporates’ and
‘Individuals’. Corporates (i.e businesses who buy for resale, warehouse usage
or Logistic purposes) are charged the ‘Corporates’ prices provided their
purchasing volume is sufficient to warrant the lower prices. The ‘Individuals’
price list is to be used for all other customers unless the ‘Corporates’ prices
have specifically been authorised by the accountant. Sales volume for both
price lists are quite high but of late EA sells more to Corporates. • The
default terms for customers are 30 days and the customer accounts are
prepared using open item processing. • EA uses a fast laser printer for
printing all their business documents and correspondence on plain paper.
(Before you continue, please ensure that the virtual and/or physical printer
you are using is set to A4 paper size. Refer to Pastel Manual Lesson 1 for
instructions) Task 2: User security 2.1 Use the following information to create
the supervisor’s user account name and password: • Do not Force strong
password. • User nr 0 o User Name: Lebo o Password: Corporates o Email
address: o Security question: Which module am I busy with? o Security
answer: AIN2601 Task 3: Edit the Chart of Accounts. 3.1 View the Trial
Balance to familiarise yourself with the various general ledger accounts
available in the Generic Chart of Accounts you have selected during setup.
3.2 Edit the following general ledger accounts, by setting the Tax processing
to VAT – Standard rated (15%): Main account number Description 1000 Sales
2000 Cost of Sales / Purchases 3.3 Add the following general ledger
accounts: NB! Type your own student number in after “Sales – Multi Rotor”
as well as “Rep & Maint Equipment” – Net value” account description (where
the “xxxxxxxx” is indicated). If the documents/printouts required later do not
reflect your own student number where required, you will receive zero
percent (0%) for your whole assignment! Main account number Subaccount
number Description Financial category Report writer category 1000 100
Sales – Multi Rotor (Student nr xxxxxxxx) 1000 200 Sales – Single Rotor 1000
300 Sales – Repairs and Maintenance 2000 100 Cost of Sales – Multi Rotor
(COMPLETE ANSWERS) Semester
1 2025 - DUE 12 May 2025;
NO PLAGIARISM
[DATE]
[COMPANY NAME]
[Company address]
, SECTION A – COMPANY SETUP Task 1: Use the Setup Assistant to create Eyes
Above (EA) on Pastel Partner. 1.1 Use the following information (use the
default information provided, unless specific information is given): • Postal
address: PO Box 3210, Johannesburg, 2000. • Date sequence: DMY, with four
digits per year, confirm that the Sample Date format is correct i.e.
dd/mm/yyyy. • Start date of financial year (current financial year):
01/05/2025, with each period ending on the last day of the month. EA uses
one period for each month of the year. In this assignment period x of 2025
will refer to the xth period falling within the 2025 financial year which ends
on 30/04/2025 and period x of 2026 will refer to the xth period falling within
the 2026 financial year which ends on 30/04/2026. • Use the Generic Chart
of Accounts as the standard chart of accounts for EA. • EA has a current
account at First National Bank (FNB). They also use a Petty Cash account to
pay for smaller, ad-hoc expenses. • EA has two price lists – ‘Corporates’ and
‘Individuals’. Corporates (i.e businesses who buy for resale, warehouse usage
or Logistic purposes) are charged the ‘Corporates’ prices provided their
purchasing volume is sufficient to warrant the lower prices. The ‘Individuals’
price list is to be used for all other customers unless the ‘Corporates’ prices
have specifically been authorised by the accountant. Sales volume for both
price lists are quite high but of late EA sells more to Corporates. • The
default terms for customers are 30 days and the customer accounts are
prepared using open item processing. • EA uses a fast laser printer for
printing all their business documents and correspondence on plain paper.
(Before you continue, please ensure that the virtual and/or physical printer
you are using is set to A4 paper size. Refer to Pastel Manual Lesson 1 for
instructions) Task 2: User security 2.1 Use the following information to create
the supervisor’s user account name and password: • Do not Force strong
password. • User nr 0 o User Name: Lebo o Password: Corporates o Email
address: o Security question: Which module am I busy with? o Security
answer: AIN2601 Task 3: Edit the Chart of Accounts. 3.1 View the Trial
Balance to familiarise yourself with the various general ledger accounts
available in the Generic Chart of Accounts you have selected during setup.
3.2 Edit the following general ledger accounts, by setting the Tax processing
to VAT – Standard rated (15%): Main account number Description 1000 Sales
2000 Cost of Sales / Purchases 3.3 Add the following general ledger
accounts: NB! Type your own student number in after “Sales – Multi Rotor”
as well as “Rep & Maint Equipment” – Net value” account description (where
the “xxxxxxxx” is indicated). If the documents/printouts required later do not
reflect your own student number where required, you will receive zero
percent (0%) for your whole assignment! Main account number Subaccount
number Description Financial category Report writer category 1000 100
Sales – Multi Rotor (Student nr xxxxxxxx) 1000 200 Sales – Single Rotor 1000
300 Sales – Repairs and Maintenance 2000 100 Cost of Sales – Multi Rotor
