ACCY4202 Accounting Software Assessment 2 Brief 2026 | Arden Universit
Learning outcomes
- Use an accounting software application to produce financial information to support a business entity’s objectives.
- Process accounts payable and receivable using software to manage financial transactions to support a business entity’s objectives.
- Generate financial information to communicate professionally with relevant stakeholders in a business setting.
Instructions
Complete and submit your assessment according to the Open Polytechnic’s Assessments webpage. This includes information on academic integrity, formatting, word limits and referencing.
- Include your name, student number and the assessment number.
Submission
- Submit your assessment in two files – one Excel file and one Word document (do not submit as PDFs).
- Submit your work through your iQualify course.
- Emailed assessments will not be accepted.
- You will receive an automated notice advising you of your successful submission.
By submitting your assessment you confirm that it is your own, original work.
Task 1: Set up activity
a. Add a new organisation in My Xero:
i. Use the following organisational detail
-The name of the business is [Your Name] Blue Surf (replace [Your Name] with your own first and last name; for example, Kiri Davies Blue Surf).
–The industry is Sport and Camping Equipment Retailing.
–The country is New Zealand.
Tick No, it’s just me. There are employees but you will not be using the payroll function.
- Tick Yes, calculate GST on transactions for me.
ii. Select Start Trial.
iii. From the settings menu, choose users and set yourself up as an advisor.
iv. From the advanced accounting menu, choose conversion balances. Then go into
the conversion date tab and enter April 2023 as the conversion date.
b. Set up your chart of accounts:
i. Delete existing chart of accounts.
ii. Import the [Your Name] Blue Surf Chart of Accounts Assessment 2 CSV file.
iii. Make the changes and additions in the chart of accounts from
Table 1.1 on the next page.Table 1.1 New and amended accounts
| Account Type | Code | Account Name | Tax Details |
|---|---|---|---|
| Sales | 201 | Bodyboard sales | 15% GST on income |
| Sales | 202 | Surfboard sales | 15% GST on income |
| Sales | 203 | Standup Paddleboard sales | 15% GST on income |
| Other Income | 211 | Surfboard repair fees | 15% GST on income |
| Direct Costs | 301 | Bodyboard COGS | 15% GST on expenses |
| Direct Costs | 302 | Surfboard COGS | 15% GST on expenses |
| Direct Costs | 303 | Standup Paddleboard COGS | 15% GST on expenses |
| Expense | 432 | Bank charges | No GST |
| Expense | 434 | Shop insurance | 15% GST on expenses |
| Expense | 440 | Office expenses | 15% GST on expenses |
| Expense | 450 | Subscriptions | 15% GST on expenses |
| Inventory | 601 | Bodyboard inventory | 15% GST on expenses |
| Inventory | 602 | Surfboard inventory | 15% GST on expenses |
| Inventory | 603 | Standup Paddleboard inventory | 15% GST on expenses |
| Fixed Asset | 740 | Repair Equipment | 15% GST on expenses |
| Fixed Asset | 741 | Accumulated depreciation on Repair Equipment | No GST |
v. Edit the ‘Capital – [Your Name]’ account to ‘[Your Name] – Funds Introduced’.
vi. Add the Bank Account to include the following details:
Your Bank is NZ Bank (add without a bank feed).
The name of the account is Bank – [Your Name] Blue Surf.
The account type is Other.
- The account number is 111-111-111.
- The account code is 90.
- Currency is NZD.
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