Business Administration Banking, Remittance and CC Transactions

The last transaction is #52 Bank Debit Memo #983321

You WILL NOT be required to enter the remaining transactions.

Once you have completed the Chequing Account and Credit Card Account Bank Reconciliations for January, generate the following reports and submit as pdf versions via Blackboard:

Deposit Slips for 1060 Bank Chequing Account – for January. Filter by Date and include Detail. (10 Marks)

Accounting Reconciliation Reportfor both Chequing Account and Credit Card Account for the period ofJanuary 1 –       31.  Summary Report filtered by Statement Date. (20 Marks)

Account Reconciliation Transaction Report for both Chequing Account and Credit Card Account – January 1 – 31.  Include all Deposit #’s. Select all options under “Select Transactions to Report”. (10 Marks)

Cheque Log for Chequing Account Only – January 1-31. (5 Marks)

Journal Entries for Account Reconciliation filtered by date for January 1-31.  Note:  entries for both accounts will be identified on this report automatically. (10 Marks)

Assignment # 7 – Banking, Remittance & CC Transactions
Note: This assignment is covered in recording made on 7/23/19 and 7/24/19
IMPORTANT:
If you are using the textbook do not complete ALL the transactions. Only complete transactions
from Page 577 through to Page 605 ONLY. The last transaction is #52 Bank Debit Memo
#983321
Checklist:
 Complete all Transactions (Listed Below)
Deposit Slips for 1060 Bank Chequing Account – for January.

Filter by Date and include Detail. (10 Marks)
Accounting Reconciliation Report for both Chequing Account and Credit Card
Account for the period of January 1 – 31.
 Summary Report filtered by Statement Date. (20 Marks)
Account Reconciliation Transaction Report for both Chequing Account and
Credit Card Account – January 1 – 31.
 Include all Deposit #’s.
 Select all options under “Select Transactions to Report”. (10 Marks)
Cheque Log for Chequing Account Only – January 1-31. (5 Marks)
Journal Entries for Account Reconciliation filtered by date for January 1-31.

Note: entries for both accounts will be identified on this report automatically.
(10 Marks)
Deposit Slips for 1060 Bank Chequing Account – for January.

Filter by Date and include Detail. (10 Marks)
Below is a list of all the transactions done in Assignment # 7 – Reconciliation & Deposits
Chapter 15 – Reconciliation & Deposits – TESSES TRESSES
The ones with the checkmarks were completed or discussed, in the class recordings.
Entering Bank Deposit Slips
Note: For all deposits, choosing January 1 from the drop-down list in the On Or After field
will include all cheques not yet deposited.
Note: At the end of January, the balance for Undeposited Cash and Cheques reflects the total
of the four postdated rent cheques.
Follow the steps outline in the book or on the class recording to Turn on the Account
Reconciliation Feature as well as Name and Link Reconciliation Accounts.
NOTES for Transaction # 7
The numbers in the Note column correspond to the explanation on pages 589–590.
1.
2.
3.
4.
5.
Deposit recorded in December (outstanding prior transaction)
Deposit Slips: total amounts from deposit slips
Service charges
Interest received
Scheduled loan payments $2 100 (1 500 + 600)
NOTES: All these inventory items are purchased in units of dozens. Therefore, the quantity 2
represents 24 units. Purchase orders were entered in January.
NOTES: Sales Invoice #484 provides services for four theatre performances for six cast members. Do
not fill the order. Enter the numbers in the Quantity field. The remainder of the order will be filled
later.
NOTES You will need to change the payment method for credit card sales when you choose
Cash Customers. The default payment method is Cash.
NOTES You can use the Tax Report for HST for January to obtain the HST amounts for the remittance,
or you can refer to the General Ledger Report for the two HST accounts.
NOTES You will be warned about using the next cheque number for the credit card payment.
NOTES: The steps for reversing an NSF Cheque are on pg 605 of the textbook or on Class
Recording 7/24/19