Basic Accounting

Course Package
To complement the Lyryx Interactive Financial Accounting course

Offered by Instructional Services and Application Support

Version 2.0 February 2009

.........................1 and 2....................................... What to Study ................................................................................................................................................... 6 What to Study ........... 6 Study Hints and Examples of Completed Exercises .... Getting Started .... Journals ................. 13 Complements Chapter 3............................................................................................................................................................................................................................................................ Accounting Information Systems ................................................................. 3 Confirmation.... 4 Accessing the Content .... 15 7........................................... Please look at our General Ledger course offerings for system step training. 12 Trial balances............ 12 Complements Chapter 2...................................................................................................................... 7 Feedback ......................... Debits and Credits ................. 4 Logging In .......................5 Income statements and balance sheets . Unit 3...... University of Calgary ChartFields .. 5 2....... Units 2..... 14 Complements Chapter 3................ 3 How to Register ..........Instructional Services and Application Support Table of Contents 1........... 17 *Remember: This course is not designed to train you on how to enter a transaction into PeopleSoft........................................................................................ 7 Instructions.................................. Financial Statements ............................................................................................................................................................................. 5 Study Timeline ............ Support .................................... 9 3...........................................................................................................................................................................0 – February 2009) 2 ......................................................................................................................... 12 4........................2 6......2 5.............................................................. 17 8........................................................................................... Unit 3.............................................................................................................. 6 Objectives ............................ Basic Accounting (v2..

Go to https://login.com 2. Click the Next button. use your UCID. Getting Started How to Register 1. Basic Accounting (v2. select University of Calgary. For Student Number. 3. Remember the Username & Password you create! 4.lyryx. Fill in all of the information.0 – February 2009) 3 . Click on the Students Registration button.Instructional Services and Application Support 1. For Educational Institution.

2. 3.com. On the next page. click the Register button. 9. Basic Accounting (v2. Specify the course you are registering for by selecting the following… Session: Anytime Course: Basic Accounting for U of C Staff Section: U of C 6. you will also receive a confirmation email like this: Logging In 1.0 – February 2009) 4 . Confirmation Along with the instant registration confirmation. On the next page.lyryx. Go back to https://login. 7.Instructional Services and Application Support 5. Enter your username and password. Click Log in. click the Close button. Click the Next button 8. Please ask the instructor for the PIN Code.

The course content is delivered through the Lyryx online tool and study is self-paced.1 only) Basic Accounting (v2. click on the course title under ‘Current Courses’ to access the course content.0 – February 2009) 5 . however. we recommend that you keep to this schedule: Week 1: Chapter 1 Weeks 2 & 3: Chapter 2 Weeks 4 & 5: Chapter 3 Week 6: Chapter 8 (Unit 8.Instructional Services and Application Support Accessing the Content Once you have logged in. one in the middle and one session at the end of the course. Study Timeline Your course will run for 6 weeks. There will be 3 in-person lab sessions during the 6 weeks: one at the beginning of the course. You can work through the material at your own pace.

you should gain or confirm basic accounting knowledge. What to Study Objectives The objective is to deliver a flexible learning option to assist U of C staff to develop accounting skills appropriate to their university assigned role or tasks. Through completing this course. 2. Study Chapters 1. and 3 Study Chapter 8. This course package is designed to provide you with the basics of using the Lyryx Interactive Financial Accounting learning tool as well as provide the U of C equivalencies to the information delivered through this course. This knowledge should assist in understanding transactions you perform within PeopleSoft.1 ONLY **There are 20 chapters available to study. Unit 8.Instructional Services and Application Support 2. What to Study You should study: Chapter 1 Chapter 2 Chapter 3 And Chapter 8.1 Basic Accounting (v2. This course will ask you to study only the first 3 chapters.0 – February 2009) 6 . plus the first unit in chapter 8. Unit 8.

Exploration: Can be done as many times as you wish Lab: Can be done as many times as you wish Quiz: Can be done ONLY 1 TIME and is OPTIONAL Where to find Explorations.0 – February 2009) 7 . Basic Accounting (v2. It is important to read the instructions for the Exploration. Labs. Lab or Quiz. and Quizzes to perform within or at the end of each unit or chapter.Instructional Services and Application Support Study Hints and Examples of Completed Exercises Instructions The course will provide exercises (‘Exploration’). Labs and Quizzes Exploration and Lab Exploration and Lab Quizzes: Take a quiz if you wish a further challenge Quizzes are at the bottom of the chapter list.

If you are struggling to complete the exercise and do not know what to enter. Read the instructions carefully. then try again. Basic Accounting (v2.0 – February 2009) 8 . The system will automatically generate a new problem with new data.Instructional Services and Application Support In an Exploration. submit the exercise. review the feedback and answer. the instructions come before the activity: Instructions Activity Submit button These exercises and activities can be challenging because they require a high attention to detail. the instructions can be found at the top right hand of the page: In Labs and Quizzes.

**You cannot click Submit. Remember. but the system will generate a new problem for you. once you click submit you cannot try again! The system provides detailed feedback once you submit your answers.Instructional Services and Application Support Feedback The system provides feedback. and then continue with the same problem. you need to click the Submit button before the system will check your answers. In an Exploration. Review the screenshots on the next page to see what type of feedback you might receive. You can try the Lab again. ranging from the simple to the detailed. as you fill in fields. check your answers and progress on the problem so far. you will get Correct or Incorrect messages: In a Lab or a Quiz. you can only try a Quiz one time.0 – February 2009) 9 . Basic Accounting (v2.

0 – February 2009) 10 .Instructional Services and Application Support Solution and Feedback: Basic Accounting (v2.

Instructional Services and Application Support Basic Accounting (v2.0 – February 2009) 11 .

liabilities. Basic Accounting (v2. Review the Chart of Accounts (next page) for information on how the accounts are numbered for assets. All accounts can be looked up on a list contained within PeopleSoft.Instructional Services and Application Support 3. select revenue and expense accounts. for an income statement. For example. Financial Statements Income statements and balance sheets Income statements and balance sheets can be produced through the Ledger Inquiry feature in the General Ledger PeopleSoft module.0 – February 2009) 12 . etc. As you create the ledger inquiry. select the appropriate search criteria and ChartFields for the financial statement type you wish to produce. The list provides the account number and description. select prepaid expenses and equipment accounts. for a balance sheet. Trial balances Trial balances are prepared by Financial Reporting and delivered in an Excel spreadsheet format.

PP or OP) or a PER (EX) project (Business) Unit 5 characters (all letters) Fund 2 characters (all numbers) Dept 5 characters (all numbers) Account 5 characters (all numbers) Program Internal Project 5 characters (all numbers) 9 characters (3 letters followed by 6 numbers) 8 characters (2 letters followed by 6 numbers) Basic Accounting (v2. initiative.Instructional Services and Application Support 4. University of Calgary ChartFields (BUSINESS) UNIT aaaaa FUND xx DEPT xxxxx ACCOUNT PROGRAM xxxxx xxxxx INTERNAL PROJECT aaaxxxxxx aaxxxxxx *where a=letter.0 – February 2009) 13 . or academic session Activity specific to one faculty or department Designates a research & trust project (RT . x=number ChartField Format Description Designates a separate legal entity Options: o ARCTC = Arctic Institute of North America o FHOBO = Funds Held on Behalf of Others o UCALG = University of Calgary o UCFND = U of C Foundation o UTECH = University Technologies Inc Segregate financial information to reflect the nature and restrictions of funding Options: o 10 = Central Operating o 20 = Other Operating o 30 = Carryover Reserves o 40 = Board Approved Reserves o 50 = Capital o 60 = Research o 70 = Other Restricted Designates a department Designates balance sheet or income statement account Options (according to the UofC Chart of Accounts): o 1xxxx = Asset o 2xxxx = Liability o 3xxxx = Net Assets (Equity) o 4xxxx = Revenue o 5xxxx = Salary & Benefit Expenses o 6xxxx = Non-Salary Expenses o 7xxxx = Internal Transfers Activity across faculties or departments such as a building.

depending on the type of account you are using in the transaction. Basic Accounting (v2.Instructional Services and Application Support 5. Blue (no underlining) = Increase Red (and underlined) = Decrease 1xxxx = Asset Debit for Increase Credit for Decrease 3xxxx = Net Assets (Equity) Debit for Decrease Credit for Increase 5xxxx = Salary and Benefit Expenses Debit for Increase Credit for Decrease 2xxxx = Liability Debit for Decrease Credit for Increase 4xxxx = Revenue Debit for Decrease Credit for Increase 6xxxx = Non-Salary Expenses Debit for Increase Credit for Decrease 7xxxx = Internal Transfers You can use debit/credit interchangeably with an Internal Transfer account. * In PeopleSoft. regardless if the credit means increase or decrease. depending on the type of account you are using for the other side of the transaction. This account and any transactions using this account must always balance to 0 (zero).0 – February 2009) 14 . a Credit is identified by a minus sign ( – ). Debits and Credits Remember: Debits and Credits can mean an increase or decrease.

Complete the basic information about the journal on the Header page and then enter the transaction lines on the Lines page. in numerical order. the Journal ID defaults to ‘NEXT’.0 – February 2009) 15 . The system will pull the next ID. Basic Accounting (v2. As you create a journal.Instructional Services and Application Support 6. Journals Here are 4 screenshots to illustrate a journal at the University of Calgary. from the database once you save or edit the journal.

approved and posted. Notice you can not modify this journal.0 – February 2009) 16 .Instructional Services and Application Support Here is an example of a journal that has been entered. Debits and credits balance. the fields are greyed out. second. submitted. the credit. Basic Accounting (v2. The debit was entered first. This journal has two lines.

Management & Accounting Information Systems PeopleSoft The University of Calgary uses PeopleSoft as its main administrative system which includes accounting functionality.0 – February 2009) 17 . Billing Project Costing HCM Student Administration Accounts Receivable General Ledger General Ledger Project Costing Project Costing Expense General Ledger eProcurement Accounts Payable Purchasing Asset Management Commitments Basic Accounting (v2. and Student Administration.Instructional Services and Application Support 7. HR/Payroll. The dark lines indicate data flowing to and from the GL and the lighter lines data transactions between other modules. This is a high level look at PeopleSoft data flow at the university and how it relates to the General Ledger (GL). There are three suites that make up PeopleSoft at the University of Calgary: FSCM (Finance and Supply Chain Management).

please contact the Basic Accounting trainer through one of the following methods: Call the PeopleSoft Support Centre at 220-5555.ca/ps. Support If you have any problems with the technology or questions about the content you are learning. option #2 Email pssccom@ucalgary.0 – February 2009) 18 . then… > click on the Finance tab > click on Support Documents/Tools (left-hand side) > click on Basic Accounting and voila! Basic Accounting (v2. you may find this course package as well as other materials on the PeopleSoft Support website: www. Also. times and location of lab sessions where you can ask questions and spend some quiet time working through the material.ca Your instructor will provide you with dates.ucalgary.Instructional Services and Application Support 8.