Assessment Type: Problem-Based Computerised Practical Tasks (Individual) Weighting: 30% Learning Outcomes Assessed: ULO 1, 2, 3 and 4 Due Date: 14 April 2026, 11:59 pm (AEDT)
All submissions must be submitted with a signed Ozford Institute of Higher Education Cover Sheet via Moodle. Late submissions will attract a penalty of 5% of the assessment weighting for each calendar day late unless the lecturer grants an extension.
You are required to create and manage a business using MYOB, record transactions (including GST), and generate reports.
Submit ALL documents in ONE combined PDF file, including the cover page.
REQUIRED SUBMISSIONS
| Item | Details |
|---|---|
| Business Name | Your Full Name Enterprises |
| Trading Name | Your First Name Solutions |
| ABN | 00 000 000 000 |
| GST | Yes |
| GST Branch | 001 |
| ACN | 12 345 567 789 00 |
| Accounting and GST Method | Accrual |
| GST clearing account | GST Balance |
| Exception alerts | Show |
| Year-end adjustments | Include |
| Display negative amounts | With a minus sign |
| Other preferences | Select Account No, Currency Symbol and cents |
| PDF export | Open in a new tab |
| Others | Leave as default |
| Financial Year | 2025 |
| Business Type | Sole Trader |
| Industry | Fire and Security Alarm installation |
| Employees | No |
| Account | Debit ($) | Credit ($) |
|---|---|---|
| FirstBank Cheque Account | 40,000 | |
| FirstBank Savings Account | 20,000 | |
| Accounts Receivable | 6,500 | |
| Inventory – Smart Systems | 60,000 | |
| Equipment | 35,000 | |
| Accumulated Depreciation – Equipment | 7,000 | |
| Furniture | 50,000 | |
| Accumulated Depreciation – Furniture | 20,000 | |
| Accounts Payable | 52,000 | |
| GST Collected | 5,000 | |
| GST Paid | 2,000 | |
| FirstBank Business Loan | 40,000 | |
| Owner Capital | 154,000 | |
| Retained Earnings | 24,500 |
| Field | Details |
|---|---|
| Contact Type | Customer |
| Designation | Company |
| Business Name | Metro Logistics Hub |
| Address | 3 Red Rd Perth WA 6000 |
| Contact Person | Gillan Deans |
| gdeans@gmail.com |
| Field | Details |
|---|---|
| Contact Type | Customer |
| Designation | Company |
| Business Name | Urban Retail Group |
| Address | 11 Blue Way Como WA 6009 |
| Contact Person | Joe Duncan |
| JD11@gmail.com |
| Field | Details |
|---|---|
| Contact Type | Customer |
| Designation | Company |
| Business Name | Apex Manufacturing Ltd |
| Address | 6 Green St Morley WA 6062 |
| Contact Person | Michaela Phillips |
| mp@phillips@gmail.com |
| Field | Details |
|---|---|
| Contact Type | Supplier |
| Business Name | TechSource Pty Ltd |
| ABN | 13 568 965 544 |
| Expense A/C | Direct Job Costs (Create this Account if you have not got) |
| Field | Details |
|---|---|
| Contact Type | Business |
| Business Name | BuildRight Contractors |
| ABN | 27 326 261 632 |
| Expense A/C | Subcontractors (Create this Account if you have not got) |
| Field | Details |
|---|---|
| Contact Type | Supplier |
| Business Name | Elite Electrical Services |
| ABN | 22 569 356 254 |
| Expense A/C | Accounting Fees (Create this Account if you have not got) |
| Field | Details |
|---|---|
| Item ID | JAV001 |
| Item Name | Smart Security System |
| Description | Javas Ultra02 |
| Selling Price | $30,000 (ex GST) |
| Allocated To | 4-2401 Sales – Smart Security Systems (Create this account if you have not got) |
| Tax Code | GST |
| Unit of Measure | Qty (This is a stock item) |
| Buying Price | $20,000 (ex GST) |
| Allocated To | 5-5110 Cost of Sales – Javas Ultra02 Systems |
| Tax Type | GST |
| Field | Details |
|---|---|
| Item ID | INS001 |
| Item Name | Installation |
| Description | Standard installation including programming, electrical services and testing |
| Selling Price | $1,650 (GST inclusive) |
| Allocated To | 4-2000 Sales – Installation |
| Tax Code | GST |
| Unit of Measure | Hr (This is a service item) |
Leave the buying details blank for this item.
| Field | Details |
|---|---|
| Item ID | SD001 |
| Item Name | Service – Software and Data |
| Description | Scheduled software update and data backup services |
| Selling Price | $0.00 (GST exclusive) |
| Allocated To | 4-3000 Service and Repair Income |
| Tax Code | GST |
| Unit of Measure | Hr (This is a service item) |
| Customer | Invoice | Date | Item | Unit | Amount (GST Inclusive) |
|---|---|---|---|---|---|
| Metro Logistics | INV1001 | 10 Nov 2022 | INS001 | 1 Hr | $1,650 (Invoice total) |
| Urban Retail | INV1002 | 20 Nov 2022 | SD001 | 1 Hr | $900 (Enter this amount) |
| Apex Manufacturing | INV1003 | 25 Nov 2022 | SD001 | 1 Hr | $3,000 (Enter this amount) |
Total Accounts Receivable: $6,500 (as at 30 November 2025)
You are now ready to process the following transactions, which took place in December 2025. In addition to creating invoices, you will explore other sales functions, such as taking payments and creating and processing customer returns.
Record the following sales-related transactions in December 2025:
1. 02 Dec: Sold a security system to Urban Retail. Invoice: $33,000 (GST inclusive) — Create a new invoice INV00004 for the amount.
2. 08 Dec: New customer Castle Industry Park — System + Installation. Invoice: $35,000 — Add the new customer Castle Industry Park. Create a new invoice INV00005 for the amount.
3. 12 Dec: Received partial payment of $2,000 from Apex Manufacturing. Create Invoice receipt of $2,000 from Apex Manufacturing. Bank it into "1-1000 FirstBank Cheque Account". Apply the amount $2,000 to INV1003. Enter in the notes that this is a partial payment. Use the Cheque number as the reference number.
Client: Metro Logistics Hub
Request:
Validity: 90 days
Create Quote QUO1001
| Supplier | Invoice Number | Date of Issue | Due Date | Item | Unit | Amount |
|---|---|---|---|---|---|---|
| TechSource | 1237 | 13 November 2025 | 14 December 2025 | (Blank) Description: Supplies | 1 Qty | $8,000 (Invoice Total — Allocate to '5-5130 Other Supplies') |
| Elite Electrical | 000258 | 19 November 2025 | 20 December 2025 | JAV001 Description: Supplies | 2 Qty | $44,000 (Invoice total — Use the saved item) |
Total Accounts Payable balance as at 30 November: $52,000
1. 03 Dec: Supplies purchase $3,300 incl. GST. Create a new bill. Allocate the amount to 5-5130 Other Supplies. Description: General tools and electrical supplies. No 'item' specified. Supplier's invoice number #00129. Due: 03 January 2026.
2. 06 Dec: Inventory purchase $5,500 + GST. Invoice Number 1695. Due: 6 January 2026. Create a new bill. Allocate the amount to 5-5130 Other Supplies. Do not specify the item. The goods are spare parts and electrical supplies.
3. 07 Dec: Labour cost $7,700 incl. GST. Invoice Number 0978. Due: 7 January 2022. Create a new account 5-3000 Labour. Create your own description. Allocate the full amount to this new cost account.
You may have noticed that there are several payments made from your business cheque account which have not been recorded.
Use the 'Spend Money' function to record the following transactions:
1. Equipment Lease: $10,000 (GST inclusive) — 1st December. To: Hire Equipment. Allocate to 6-0480 Lease of Equipment. Description: Equipment lease December 2025 – May 2026.
2. Owner Drawings: $5,000 — 5th December. To: Business Owner (Your Name). Allocate to 3-0020 Owners Drawings. Description: Drawings. GST Exempt.
Notes for all Spend Money transactions:
END OF ASSIGNMENT
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