Reference no: EM132472499

REMEMBER YOU ARE ASSUMING IT IS NOW May 1, 2017 and is your first day at work in your new role as Accountant with Intermaweb Computer. Your first task is to convert the existing manual accounting system of Intermaweb Computer to a new computerized accounting system using Sage 50. To do this, you must first download and install the Sage 50 software before you then download and save the data file that has already been prepared by the business owner. Once you have both the software and data file ready, there are just a few more settings you need to change before you are ready to begin entering transactions into Sage 50.

Instructions

Part 1. Now is the time to ensure that you have Sage 50 Complete Accounting 2017 (US Edition) installed on your computer (or have access to it by other means such as a computer lab at your school). If the Sage 50 software is not installed on your computer, you should find the email perdisco sent to you immediately after you purchased this practice set. That email contains instructions about how to download your copy of Sage 50. Please contact perdisco if you need that email resent to you. You can follow the instructions in the Sage 50 Learning Center to install the software on your computer.

Please note:

• Check the Sage 50 system requirements: While Perdisco's practice set (this website) can be used on any modem operating system, the Sage 50 software will only run on the Microsoft Windows(R) operating system. Remember that this is a limitation created by Sage, not perdisco. More information on the minimum system requirements for the Sage 50 software may be available from Sage.

• Set the correct Sage 50 date and currency formats: The Sage 50 software takes its settings for currency and date formats from your computer's Windows operating system - these items are not set (and cannot be set) from within the Sage 50 software itself. To complete this practice set you will be required to enter information in US dollars and use the United States date format. If you are a foreign student, it is possible that your Windows date and currency settings are not those of the United States. To maximize your chance of gaining all available points in this practice set, we suggest you ensure your Windows date and currency formats are set to those of the United States. You can learn how to do so in the Set System Currency A page of the Sage 50 Learning Center.

Part 2. Download the company data files using the link provided below. The file that you will download is a zip file and you will need to extract the contents of that zip file to be able to use it in Sage 50. Once extracted, you will find a company folder called "IntermawebComputerYourName".
• If you will be using only one computer to complete your practice set, you should save the company folder to:
C: \ Sage \ Peachtree \ Company
• If you are using a shared computer (such as a computer at your college) or will be using more than one computer to complete your practice set, you should save the company folder to an external storage device (like a USB flash drive).
The zip file to download is here: Sage 50 data files (1M13)

Part 3. Change the name of the company folder currently called "IntermawebComputerYourName" so that it reflects your actual full name. Find where you saved the company folder, then delete the letters "YourName" from the name of this folder and replace them with your full name. For example, if your full name was Chris Smith you should rename that folder to "IntermawebComputerChrisSmith".

Part 4. Start Sage 50, select 'Open an existing company' and locate the company you just downloaded in the company folder you just renamed.

Part 5. You need to change the name of your company. This is different to the name of your company folder already completed in step 3 above. From the main menu bar, click Maintain, then select 'Company Information...'. This opens the Maintain Company Information window where you can alter the Company Name. In the Company Name field, delete the words 'insert your name and replace them with your full name. This will help uniquely identify this company file as your own. Click the OK icon to save the change and close the window.

Part 6. Next, you need to confirm that the current accounting period is May 2017. To do this, in the Sage 50 main window click the Period toolbar button and check that the current accounting period is '05 - 5/1/17 to 5/31/17'. Otherwise set it to be that period. (If you are asked if you would like to print your reports before continuing, select 'NO'. Additionally, if you are asked if you would like to run an Internal Accounting Review you should select 'No'. This is because if you run an Internal Accounting Review Sage 50 may not change the accounting period after the review has been completed, and you run the risk of entering transactions in the incorrect period.)

Part 7. Set the global options of your Sage 50 software so that the i31. Account fields are not hidden in the Sage 50 task windows. To do this:
• From the Options menu, select the 'Global...* option.
• In the Accounting tab of the Maintain Global Options window, under the Hide General Ledger Accounts heading, ensure that no check marks are placed in the Accounts Receivable box and the Accounts Payable box. Click OK to save the changes.

Part 8. Finally, verify that the company file provided by Rinaldo has the correct account balances as of 30 April 2017. In Sage 50, view the General Ledger Trial Balance report for Intermaweb Computer as of 30 April 2017. Include accounts with zero balances when running this report. Then check that the balance of the accounts in the trial balance printed from Sage 50 matches the balances of the accounts in the trial balance.

Attachment:- perdisco Sage 50.rar