Accounting Information System Company Report

ACCT322 – Accounting Information SystemINTRODUCTION
This project aims to train the student to create their own company record and file for assets, sales,
purchase and inventory using the accounting software. The students also demonstrate their
knowledge on designing the sales and purchase order and invoice as the source of document of the
accounting software. The student also will record the transaction and generate the required
documents from the accounting software.
PROJECT REQUIREMENT
create your own company (my Leader Name) and do the following steps using ODOO ERP System.
You are required to:
A. Create your company name and entered all the relevant data. The calendar year is January
to December 2023.
B. RECORD THE FOLLOWING TRANSACTION:
1. The owner started the business by investing cash SAR500,000
2. Purchase office equipment amounted to SAR100,000 on credit
3. Paid one year rent in advance amounted to SAR36,000
4. Purchase insurance for 2 years’ coverage of SAR12,000
5. Purchase office supplies by cash SAR500
C. EXPENDITURE CYCLE
1. Create 5 products that your company going to buy
2. Create 5 vendor with their information
3. Create 3 purchase order from each of supplier/vendor
4. Paid one of your purchase invoice from each of your supplier/vendor
D. REVENUE CYCLE
1. Create 10 customers record with all the details
3. Create 2 sales orders for each of your customer
4. Create at least 3 sales invoices from each customer
5. Receive money from any 2 of your sales invoices created in No. 4 above (for each customer).
Additional information at the end month of April, 2023: 1. Paid $8,000 advertising expenses by cash
2. Paid $4,000 for maintenance expenses
3. Purchase additional office equipment by check $10,000
4. The owner withdraws $10,000 from the business
5. Paid salary expense $25,000
6. Accrued $5,000 utility expense at the end of the month
7. The bank charges of $150 for check printing at the end of the month
8. The company policy for depreciation is to depreciate all assets at 5% per year on cost using
straight line method, the company anticipate that the assets will not have a salvage value.
Required:
The following document needs to be included in your report:
1. List of your product, cost price and selling prices
2. The plan purchase and sales
3. One sample of Sales order and sales invoice from each customer
4. One sample of Purchase order and purchase invoice from each vendor
5. Journal entry for all the transaction
6. Trial balance as at 30 April 2023
7. Income statement, retained earnings statement and balance sheet for the month of April 2023.