DLSU and NetSuite ACTBAS2 Practice Set Activity INSTRUCTIONS ON STUDENT ACCOUNT ACTIVATION STEP 1: MLS account activation

Make sure your mylasalle account is working/activated. STEP 2: Log-in Go to www.netsuite.com. 1. Click on customer log-in. This can be found at the upper right of the screen. 2. You will then be asked for your email address and password. For the email address: Type your mylasalle email address. For the password: Type "netsuite1". Please note that the password is not your specific mylasalle account password . *WARNING: DO NOT HAVE SIX CONSECUTIVE FAILED ATTEMPTS, OR ELSE YOU'LL NEED TO WAIT FOR ANOTHER 30 MINUTES TO ACCESS THE WEBSITE. **If password netsuite1 not working, try dlsu1234.

STEP 3: Change e-mail/password 1. The system will tell you that your password has expired. You need to type your old password [ex. netsuite1], and then assign a new password [must be alphanumeric], and then retype your new password. *WARNING: DO NOT HAVE SIX CONSECUTIVE FAILED ATTEMPTS, OR ELSE YOU'LL NEED TO WAIT FOR ANOTHER 30 MINUTES TO ACCESS THE WEBSITE. 2. If you do not encounter this re-assigning of new password, it is okay. However, it is recommended that you do change (1) your email address to your correct mylasalle email address (if it is incorrect) and (2) your password for security purposes (MAKE SURE YOU REMEMBER). The Change Email Address/Password link can be found at the bottom left of the homepage of the ACTBAS2 data set. STEP 4: Update Security Questions 1.The system will ask you to update SECURITY QUESTIONS. Take the time to answer them (you'll need three questions to which you very well know the answers) so that you can access the website in case you forgot your new password. *TIP: You can select three different questions, but assign one single answer on all three questions so that you wont forget the answer.

2.If you do not encounter this updating of security questions, click on UPDATE security questions.
The Update Security Questions link can be found at the bottom left of the homepage of the ACTBAS2 data set, together with the Change Email Address/Password link.

STEP 5: Change role to Administrator 1. Click on Change Role (found at the upper right of the screen). 2. You should see two roles: (1) Philippine University Projects DLSU Student and (2) DLSU Dataset 1 ACTBAS2 Mastercopy (Administrator) or something similar to this. Click Administrator. 3. Mouse over the different tabs to learn about the features included in NetSuite. 4. Do not forget to log out. *IMPORTANT: If you do not see a Change Role option and you only see Home and Support tabs, you have to either (1) inform your professor immediately since you do not have access to the ACTBAS2 data set or (2) do the Contact Support Online in Step#6.

STEP 6: Contact Support Online (if you encounter problems) 1. GO to Support > Customer Service > Contact Support Online. You will then be directed to an online form. 2. Fill out the online form completely. a. In the What is this about line: Select Ask a Question b. Select from the list what your question is all about. If its about log-in problems, then select Log-in/Password c. In the Subject line, write DLSU ACTBAS2 Practice Set. d. In the Message line, write as complete as possible what the problem is all about. Include the error message like Invalid Password in the description. e. DO NOT put a checkmark on the Case Severity box. f. REMEMBER to write your contact number, and attach the prefix 63 to the number (e.g. 6321234567; 63917-1234567). 3. Click Send. Normally, a customer representative will email/contact you within 24 hours from receipt of the online form.

NAME:____________________________ Section:______

ACTBAS2 PRACTICE SET ACTIVITY

Overview and General Guidelines The course ACTBAS2 includes a practice set activity wherein students would have an application of a computerized accounting system. In particular, students would learn about NetSuite, a web-based accounting system. The company in this exercise is a VAT-registered business which is into buying and selling of books, magazines, and supplies. It also offers photocopying and bookbinding services.

Objectives At the end of this activity, the students should be able: 1. To identify the basic features of NetSuite as a computerized accounting system; 2. To apply the concepts of perpetual inventory system and value-added tax; and 3. To demonstrate the differences between the workings of a manual and a computerized accounting system in terms of journal entries, financial statements preparation, and other steps in the accounting cycle. The Practice Set Activity This activity is divided into two parts: Part I: Actual computer laboratory session
Introduction to NetSuite Laboratory Exercise (Refer to page 2) Feedback (Questions and Evaluation form) TOTAL ESTIMATED TIME Part II: Take-home exercise (Refer to page 3) Estimated Time to Finish 10 minutes 100 minutes 10 minutes 120 minutes

General Guidelines for the Activity 1. LOG IN to www.netsuite.com. 2. Remember your assigned (a) email address and (b) password. Your professor has this list. 3. FILL IN all appropriate details of the transaction. a. If a drop-down button is available, CLICK the drop-down button and SELECT from list. b. If no drop-down button is available, TYPE the necessary detail. 4. USE the Tab key to move from one transaction column to another. 5. CLICK Add to move from one transaction line to another. 6. According to Philippine law, all types of books and magazines are VAT-exempt. Supplies, however, are subject to 12% value-added-tax. 7. Do not forget to CLICK Save every time you are finished with a transaction. 8. CLICK on the GL Impact to view the journal entry that was generated by the transaction.

9. When generating financial statements, remember to SET the date footers appropriately, then
CLICK Refresh. DE LA SALLE UNIVERSITY AND NETSUITE ACTBAS2 PRACTICE SET ACTIVITY

Laboratory Exercise This exercise includes: 1. Setting-up your accounting system a. Editing the company name: GO to Setup > Company > Company Information. b. Editing the Capital and Drawing accounts: GO to Lists > Accounting > Accounts. 2. Entering transactions for the month a. Recording a Credit Sale: GO to Transactions > Sales > Create Invoices. b. Recording a Credit Purchase: GO to Transactions > Purchases/Vendors > Enter Bills. c. Recording a Cash Sale: GO to Transactions > Sales > Enter Cash Sales. d. Recording Service Rendered, COD: GO to Transactions > Sales > Enter Cash Sales. e. Recording Collection: GO to Transactions > Customers > Accept Customer Payments. f. Recording Payment: GO to Transaction > Purchases/Vendors > Pay Bills. g. Recording a Journal Entry: GO to Transactions > Financial > Make Journal Entry. h. Recording a Cash Purchase: Do Credit Purchase (2b) then Payment (2f). 3. Generating reports a. Profit and Loss Statement: Go to Reports > Financial > Profit and Loss. b. Balance Sheet: Go to Reports > Financial > Balance Sheet. ----------------------------------------------------------------------------------------------------------------------------DATE Feb TRANSACTIONS

02 Sold to BALAN SCHIDT ten pieces of Workbook in Introductory Accounting for Merchandising (Item Code: A1601) on terms 2/10, n/30. 03 Purchased 50 pieces of Solar scientific calculator (a new inventory item with Item Code: D4901), for P575.00 each plus VAT, from KING SUPPLIES on terms 1/10, n/30. 09 Sold to GO GREEN COMPANY* two pieces of Sleepless in St. La Salle (Item Code: B2201) on terms COD. *Go Green Company is a new customer with address at 2401 Verde St., Quezon City. 11 Collected in full the outstanding account of BALAN SCHIDT. 13 Settled in full the outstanding account with KING SUPPLIES. 16 Rendered photocopying service for 4,500 pages (pcs) at P1.00 to HUGH S. RHULLER, on terms COD. 17 Purchased from ELLE WOODWORKS* two sets of wooden display shelves (a noninventory item for purchase) for P19,500 each plus VAT, on terms COD. *Elle Woodworks is a new vendor with address at 88 Matibay St., Sta. Mesa Heights, Quezon City. 28 Paid P22,000 for the salary of office employee, Eve Riwan, for the month. 28 Adjustment data: A 10% interest on the 60-day notes payable has accrued as of fiscal year-end. 28 Adjustment data: Except for the building (with estimated useful life of 40 years), all the companys property, plant, and equipment have estimated useful lives of five years each. Salvage value for all fixed assets (including building) is equal to 10% of cost. Prepare

adjusting entries on depreciation for the fiscal year-end.

DE LA SALLE UNIVERSITY AND NETSUITE ACTBAS2 PRACTICE SET ACTIVITY

Take-home Exercise This exercise includes: 1. Entering additional transactions for the month 2. Sending Profit and Loss Statement to your professor a. When viewing the report, click the Email button (lower right of your screen). b. CLICK the Recipients tab. On the Email column, indicate your professors mylasalle address (_____________________________________@dlsu.edu.ph). c. Still on the Recipients tab. On the Email column, indicate also your mylasalle address. d. CLICK the Message tab. On the Subject line, write From <Your Complete Name>, Section <Your Section>. e. CLICK Send. f. DEADLINE:_______________________________________ 3. Sending Balance Sheet to your professor: Follow instructions (2a) to (2e) above. ----------------------------------------------------------------------------------------------------------------------------DATE Feb ADDITIONAL TRANSACTIONS

08 Sold to SUNSHINE COMPANY* 40 pieces of Solar scientific calculator (Item Code: D4901) for P725.00 each plus VAT, on terms 2/10, n/30. *SUNSHINE COMPANY is a new customer with address at 28 Maliwanag St., Makati City. 12 Purchased 20 pieces of Rainbow highlighter (Item Code: D4701) from BLACK AND WHITE STORE on terms 2/10, n/30. 18 Collected in full the outstanding account of SUNSHINE COMPANY. 21 Rendered bookbinding service for 20 sets of 80 pages to MANNY KOHLUM, on terms COD. 22 Settled in full the outstanding account with BLACK AND WHITE STORE. 25 Purchased seven pieces of No Pain, No Gain: A Collection of Success Stories from CPAs (Item Code: B2301) from ACCOUNTING LOVERS ASSOCIATION on terms COD. 28 Paid P22,000 for the salary of store employee, Matilda Hilan, for the month. 28 Adjustment data: A 12% interest on the six-month notes receivable has accrued as of year-end. 28 Adjustment data: Of the reported Prepaid Insurance account, 70% remains unexpired as of fiscal year-end. 28 Adjustment data: As of fiscal year-end, the company estimates that 40% of outstanding Accounts Receivable is doubtful of collection.

DE LA SALLE UNIVERSITY AND NETSUITE ACTBAS2 PRACTICE SET ACTIVITY Evaluation Form Name: __________________________ Section: ______ Term: ___1 st ___2 nd ___3 rd ___Summer ID #: ___________________ Professor: _____________________ Academic Year: _________________

This form is aimed at improving the NetSuite practice set activity in ACTBAS2. We would appreciate your honest feedback on the said activity.
PART I: Put a checkmark () on the blank space beside your answer. 1. Have you had application of a computerized accounting system prior to this activity? ___Yes ___No 2. Is this your first time to use NetSuite? ___Yes ___No 3. How would you rate yourself based on your knowledge of a computerized accounting system BEFORE this activity? (10 being the highest) ___0 ___1 ___2 ___3 ___4 ___5 ___6 ___7 ___8 ___9 ___10 4. How would you rate yourself based on your knowledge of a computerized accounting system AFTER this activity? (10 being the highest) ___0 ___1 ___2 ___3 ___4 ___5 ___6 ___7 ___8 ___9 ___10 5. How would you rate this activity overall? (10 being the highest) ___0 ___1 ___2 ___3 ___4 ___5 ___6 ___7 PART II: Write your honest opinion/comments on the box provided. Your Initial Expectations about the Activity: ___8 ___9 ___10

What You Liked about the Activity:

What You Feel was Lacking regarding the Activity:

Suggestions for Improvement:

Other Comments:

ACTBAS2 NetSuite Practice Set Activity Page 7 ***This form will be forwarded to the area coordinator and department chair for further evaluation. Thank you.