SECTION A $$ COMPANY SETUP

Task $1$: Use the Setup Assistant to create Hover Hub $($HH$)$ on Pastel Partner.

$1\mathrm{.}1$ Use the following information $($use the default information provided, unless specific information is given$)$:

$$ Postal address: PO Box $1467,$ Johannesburg, $2000.$

$$ Date sequence: DMY$,$ with four digits per year, confirm that the Sample Date format is correct i$.$e$.$

dd$/$mm$/$yyyy$.$

$$ Start date of financial year $($current financial year$)$: $01/05/2024,$ with each period ending on the last day

of the month. HH uses one period for each month of the year.

In this assignment period x of $2023$ will refer to the xth period falling within the $2023$ financial year which

ends on $30/04/2023$ and period x of $2024$ will refer to the xth period falling within the $2024$ financial year

which ends on $30/04/2024.$

$$ Use the Generic Chart of Accounts as the standard chart of accounts for HH$.$

$$ HH has a current account at Nedbank. They also use a Petty Cash account to pay for smaller, ad$-$hoc

expenses.

$$ HH has two price lists $$Corporates$$ and $$Individuals$.$ Corporates $($i$.$e those companies who buy for

resale, warehouse usage or shopping malls$)$ are charged the $$Corporates$$ prices provided their

purchasing volume is sufficient to warrant the lower prices. The $$Individuals$$ price list is to be used for

all other customers unless the $$Corporates$$ prices have specifically been authorised by the accountant.

Sales volume for both price lists are quite high but of late HH sells more to Corporates.

$$ The default terms for customers are $30$ days and the customer accounts are prepared using open item

processing.

$$ HH uses a fast laser printer for printing all their business documents and correspondence on plain

paper. $($Before you continue, please ensure that the virtual and$/$or physical printer you are using is set

to A$4$ paper size. Refer to Pastel Manual Lesson $1$ for instructions$)$

Task $2$: User security

$2\mathrm{.}1$ Use the following information to create the supervisor$$s user account name and password:

$$ Do not Force strong password.

$$ User nr $0$

o User Name: Ayanda

o Password: Corporates

o Email address: Ayanda@HH$.$co$.$za

o Security question: Which module am I busy with?

o Security answer: AIN$2601$

Task $3$: Edit the Chart of Accounts.

$3\mathrm{.}1$ View the Trial Balance to familiarise yourself with the various general ledger accounts available in the

Generic Chart of Accounts you have selected during setup.

$3\mathrm{.}2$ Edit the following general ledger accounts, by setting the Tax processing to VAT $$ Standard rated $(15\%)$:

Main account number Description

$1000$ Sales

$2000$ Cost of Sales $/$ Purchases