Smartbooks Operations Management Workbook

Smartbooks Operations Management Workbook
EXERCISE WORKBOOK
Smartbooks Operations
Management
FIT ACADEMY l GF King’s Court Bldg II., Chino Roces cor. Delarosa Sts., Makati City 1200, Philippines l Telephone Number: 63.2.759.4348 l www.fitacademy.ph
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1. Basic Navigation
Exercise 1.1
Fill each blank with the appropriate words or terminologies that will make the statements correct.
1. Navigation in Smartbooks is done using the___________________. This menu contains a list of all
modules with their related options.
2. The _______________ extends along the entire lower edge of the Smartbooks main window and
contains various fields.
3. A/an __________________ appears on a red background and informs you that the procedure cannot
continue until corrective action is taken.
4. A/an ___________________ appears on a green background and confirms the successful execution of
a procedure.
5. A ____________________ function is normally linked with the master data and documents. Using it
will open the detailed information.
Exercise 1.2
Identify the terminologies being described by each sentence.
1. This application facilitates data sharing, information flows, and introduction of common business
practices among business units in the organization. It enables an organization to automate and integrate
its key business processes.
2. This is also known as Internal Cloud, is a cloud-based infrastructure operated exclusively for a single
organization with all data protected behind an internal firewall.
3. This is also known as External Cloud, is available to the public where data are created and stored on
third-party servers.
4. This is a key feature of cloud computing where resources can be accessed anywhere (except on
limitations set by company's internal control).
5. It is one of the major units of Smartbooks that produces the traditional Financial Statements, such as
Income Statement, Balance Sheet, Statement of Cash Flow, Tax Returns, Reports / Schedules, and other
reports mandated by the government.
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2. Customer Master Record

Exercise 2.1
Customers/Suppliers > Customers
Add the customer data with the following information:
Header
Customer Type: Individual
Customer No.: C + 00 + [Branch No.] + A
Tax ID: 123-887-996-00000
Last Name: [Student’s last name]
First Name: [Student’s first name]
Middle Name: [Student’s middle name]
Group: Customers
General
Phone: 12349876
Mobile Phone: 9184678943
E-Mail [student’s initials]@gmail.com
Addresses
Address Name: [Preferred address]
Street: [Preferred street]
Block/Barangay: [Preferred block/barangay]
City: [Preferred city]
Zip Code: [Applicable zip code]
Country: Philippines
Contact Person
Title: Ms./Mr.
Name: [Student’s Name]
Position: Manager
Telephone No: 12349876
E-Mail: [student’s initials]@gmail.com
Address: Student’s address
Payment Terms
Payment Terms: 30 Days
Price List: Regular Sales Price
Accounting
General Tab
Accounts Receivable: 10210100
Tax Tab *tick 'Subject to withholding tax'
WTax Code: CI158
3
Insert the screenshot of your output

below:
4
Exercise 2.2
Customers/Suppliers > Customers
Add the customer data with the following information:
Header
Customer Type: Corporation
Customer No.: C + 00 + [Branch No.] + B
Customer Name: [Preferred company name] Corporation
Tax ID: 331-887-221-00005
Group: Customers
General
Phone: 6071235
Mobile: 09156478948
E-Mail [Company name]@gmail.com
Addresses

Contact Person
Title: Mr./Ms.
Name: [Preferred name]
Position:
Purchasing Officer
E-Mail: [preferred name's initials]@gmail.com
Address: [Preferred address]
Payment Terms
Price List: Regular Sales Price
Accounting
General Tab
Accounts Receivable:
10210100
WTax Code: C158
5
Insert the screenshot of your output below:
6
3. Supplier Master Record

Exercise 3.1
Customers/Suppliers > Suppliers
Add the Supplier data with the following information:
Header
Supplier Type: Individual
Supplier No.: S + 00 + [Branch No.] + A
Tax ID: 777-888-999-00001
Last Name: [Preferred name’s last name]
First Name: [Preferred name’s first name]
Middle Name: [Preferred name’s middle name]
Group: Suppliers
General
Phone: 78941523
Mobile Phone:
9174598663
E-Mail [Preferred name's initials]@gmail.com
Addresses
Contact
Person
Title: Ms./Mr.
Name: [Preferred Name]
Position: Owner
E-Mail: [Preferred name’s initials]@gmail.com
Address: Preferred address
Payment Term
Price List: Regular Purchase Price
Accounting
General Tab
Accounts Payable: 20100100
WTax Code: SI158
7

below:
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Exercise 3.2
Customers/Suppliers > Suppliers
Add the Supplier data with the following information:
Header
Supplier Type: Corporation
Supplier No.: S + 00 + [Branch No.] + B
Supplier Name: [Preferred company name] Corporation
Tax ID: 663-887-994-00036
Group: Suppliers
General
Phone: 8871455
E-Mail [Company name]@gmail.com
Addresses

Contact
Person
Title: Mr./Ms.
Name: [Preferred name]
Position: Sales Officer
E-Mail: [preferred name's initial]@gmail.com
Address: [Preferred address]
Payment Term
Price List: Regular Purchase Price
Accounting
General Tab
Accounts Payable: 20100100
WTax Code: S158
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4. Adding of Items and Bank Account

Exercise 4.1 Adding of Items
Inventory > Items
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Add the following items:
Item Price w/ VAT Installment

Item Code (Manual) Item Name Item Class
Category (Base Price)
I + 00 + [Branch No.] + A [Item 1 Name] Merchandise Inventory Items 1000
I + 00 + [Branch No.] + B [Item 2 Name] Merchandise Inventory Items 2500
I + 00 + [Branch No.] + C [Item 3 Name] Merchandise Inventory Items 850
I + 00 + [Branch No.] + D [Item 4 Name] Merchandise Inventory Items 12000
I + 00 + [Branch No.] + E [Item 5 Name] Merchandise Inventory Items 15000
Exercise 4.2 Adding of Bank Account

Admin > Setup > Banking > Bank Accounts
Bank: BDO
Bank Branch: Makati City
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Bank Account No.: 987654321

G/L Account: 10120101 (BDO)
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5. Purchase Process
5.A Regular Purchase Process
Exercise 5.1
Do the WHOLE PURCHASE PROCESS for the following items (Purchase Oder > Receiving > AP Voucher >
Cash Outflow – Supplier):
Supplier: [Supplier in Exercise 3.1]

Item/s: [Item 1 and Item 2 in Exercise 4.1]
Quantity: 65 and 49 respectively
Payment means: Cash (Use Cash on Hand)
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Exercise 5.2
Do the WHOLE PURCHASE PROCESS for the following items (Purchase Oder > Receiving > AP Voucher >
Cash Outflow – Supplier):

Quantity 45 and 50 respectively
Payment means: Bank (Use BDO Account)
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5.B Purchase Process with Purchase Return

Exercise 5.3
Do the WHOLE PURCHASE PROCESS for the following items with Goods Return (Purchase Oder >
Receiving > Purchase Returns > A/P Voucher > Cash Outflow – Supplier):

Quantity Received: 67 and 56 respectively
Quantity Returned: 5 and 3 respectively
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5.C Purchase Process with Debit Memo

Exercise 5.4
Do the WHOLE PURCHASE PROCESS for the following items with /P Debit Memo (Purchase Oder >
Receiving > AP Voucher > A/P Debit Memo > Cash Outflow – Supplier):

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Exercise 5.5
Do the WHOLE PURCHASE PROCESS for the following items with /P Debit Memo (Purchase Oder >
Receiving > A/P Voucher > A/P Debit Memo > Cash Outflow – Supplier):

Reference in Payment means: Bank (Use BDO Account)
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6. Sales Process
6.A Regular Sales Process
Exercise 6.1
Do the WHOLE SALES PROCESS for the following items (Sales Oder > Shipment > Invoice > Cash Inflow –
Customer):
Customer: [Customer in Exercise 1.1]

Quantity: 23 and 31 respectively
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Exercise 6.2
Do the WHOLE SALES PROCESS for the following items (Sales Oder > Shipment > Invoice > Cash Inflow –
Customer):

Quantity 25 and 27 respectively
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6.B Sales Process with Sales Return

Exercise 6.3
Do the WHOLE SALES PROCESS for the following items with Sales Return (Sales Oder > Shipment > Sales
Return > Invoice > Cash Inflow – Customer):

Quantity Delivered: 20 and 30 respectively
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6.C Sales Process with Credit Memo

Exercise 6.4
Do the WHOLE SALES PROCESS for the following items with A/R Credit Memo (Sales Oder > Shipment >
Invoice > A/R Credit Memo > Cash Inflow – Customer):

21
Exercise 6.5
Do the WHOLE SALES PROCESS for the following items with A/R Credit Memo (Sales Oder > Shipment >
Invoice > A/R Credit Memo > Cash Inflow – Customer):

22
7. Inventory Management
Defining Warehouse
Exercise 7.1 Adding of Warehouse
Admin > Setup > Inventory > Define Warehouses
Add the following warehouse:
Warehouse Code: WH + (Branch)

Warehouse Name: (Preferred Location) + Warehouse
Street: (Preferred street)
Block/Barangay: (Preferred barangay)
City: (Preferred city)
Zip code: (Zip code of preferred city)
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Inventory Transactions
Exercise 7.2 Item Receipt
Inventory > Inventory Transactions > Item Receipt
Received freebies from supplier:
Items: Quantity
[Item 1] 12
[Item 2] 17
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Exercise 7.3 Item Receipt

Inventory > Inventory Transactions > Item Receipt
Physical inventory count is higher than system inventory count
Items: Quantity
[Item 3] 35
[Item 4] 47
[Item 5] 23
25
Exercise 7.4 Item Issuance

Inventory > Inventory Transactions > Item Issuance
Issued items due to warehouse theft.
Items: Quantity
[Item 1] 10
[Item 2] 14
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Exercise 7.5 Item Issuance

Inventory > Inventory Transactions > Item Issuance
Issued items due to warehouse fire.
Items: Quantity
[Item 3] 12
[Item 4] 22
[Item 5] 14
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Exercise 7.6 Item Transfer

Inventory > Inventory Transactions > Item Transfer
Transfer the following items from your assigned warehouse (i.e. WAREHOUSE XX) to the created
warehouse in 1.1.
Items: Quantity
[Item 1] 10
[Item 2] 10
[Item 3] 10
[Item 4] 10
[Item 5] 10
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Batch and Serial Numbers

Adding of Item: Inventory > Items
Purchase Order > Receiving > A/P Voucher
Sales Order > Shipment > Invoice
Exercise 7.7 Batches

Add the following item managed by batches:
Item Code: B + [Branch no.] + A

Item Name: [Preferred Item Name]
Item Category: Items
Item Class Merchandise Inventory
Inventory Tab:
Costing Method: FIFO
Manage Item by: Batches
Management Method: On every transaction
Price List Tab:
Base Price: 65
 Purchase and receive from [Supplier in Exercise 3.1] 100pcs of [Item above] by batches. Make 4
batches divided equally.
 Sell and deliver to [Customer in Exercise 2.1] 54pcs of [Item above] by batches.
Note: Use your Branch No. when defining batch numbers.
Example, if you are Branch 1, start at:
Batch No.: Batch 1000
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Exercise 7.8 Batches
Add the following item managed by batches:
Item Code: B + [Branch no.] + B

Inventory Tab:
Manage Item by: Batches
Price List Tab:
Base Price: 100
 Purchase and receive from [Supplier in Exercise 3.2] 200pcs of [Added Item] by batches. Make 2
batches divided equally.
 Sell and deliver to [Customer in Exercise 2.2] 133pcs of [Added Item] by batches.
Note: Continue using the batch number in Exercise 7.7.
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Exercise 7.9 Serial Numbers

Adding of Item: Inventory > Items
Purchase Order > Receiving > A/P Voucher
Sales Order > Shipment > Invoice
Add the following item managed by serial numbers:
Item Code: SN + [Branch no.] + A

Inventory Tab:
Manage Item by: Serial Numbers
Price List Tab:
Base Price: 45000
 Purchase and receive from [Supplier in Exercise 3.1] 20pcs of [Item above] by serial numbers.
 Sell and deliver to [Customer in Exercise 2.1] 5pcs of [Item above] by serial numbers.
Note: Use your Branch No. when generating serial numbers.
Example, if you are Branch 1, use:
Prefix: Start Serial No:

Branch 1- 1000
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33
Exercise 7.10 Serial Numbers

Add the following item managed by serial numbers:
Item Code: SN + [Branch no.] + B

Inventory Tab:
Manage Item by: Serial Numbers
Price List Tab:
Base Price: 35000
 Purchase and receive from [Supplier in Exercise 3.2] 25pcs of [Item above] by serial numbers.
 Sell and deliver to [Customer in Exercise 2.2] 14pcs of [Item above] by serial numbers.
Note: Continue using the serial numbers in Exercise 7.9.
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8. Production Process
Exercise 8.1 Adding of Items

Add the following items in the Item Master Data.
Inventory > Items
Item Code: FG + 000 + [Branch No.]

Item Name: [Finished goods item]
Item Class: Merchandise Inventory
Item Code: RM + 00 +[Branch No.] + A

Item Name: [Component Item 1]
Price List: Base Price
Price: [Desired amount]
Item Code: RM + 00 +[Branch No.] + B

Item Code: RM + 00 +[Branch No.] + C

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below:
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Exercise 8.2 Bill of Materials

Production > Bill of Materials
Create Bill of Materials based on this diagram.

The diagram below shows the production process of Finished Goods. Raw materials are being
assembled to produce Finished Goods.
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Exercise 8.3 Production Order

Production > Production Order
Start production process by creating Production Order.
Product No.: [Finished goods added in Exercise 7.1.1]

Planned Quantity: 50
Due Date: Date today
Completed and Rejected Warehouse: Warehouse assigned to your branch (e.g. MAIN)
Issue Method: Manual
Status: Released
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Exercise 8.4 Restock of Items

Purchase Oder > Receiving > AP Voucher
Restock the items needed in the production by doing the purchase process.
Note: Select the supplier added in previous exercise.
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Exercise 8.5 Issuance to Production

Production > Issue for Production
Issue all items to production.

40
Exercise 8.6 Receipt from

Production
Production > Receipt from Production
Receive all items from production.
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9. Service Process
Exercise 9.1
Service > Service
Add the following details in the service process:
Header and General Tab

Customer No.: [Customer added in exercise 2.1]
Item No.: [Item no. added in previous exercise]
Serial No.: [Serial No. or N/A if no serial no.]
Mfr. Serial/Engine No: N/A
Open On: [Date today and current time]
Release/Done On: [Date today and desired time of release]
Priority: Medium
Service Type: Warranty
Charge To: [Customer added in exercise 2.1]
Subject: [Specific concern of the customer]
Assignee and Technician: John Dela Cruz
Scheduled Start Date/Start Date/End Date: Date today
Activities Tab
Activity: Task
BP Code: [Customer added in previous exercise]
Remarks: Already fixed by the technician
Start time: [Desired start time]
End time: [Desired end time]
Solutions Tab
Item: [Same item added on header]
Status: Done
Solution: [Solution made]
Cause: [Input the cause of the problem]
Detail: [Input the details of the problem and the solution made]
Resolution Tab
Resolution: [Input the resolution]
Note: After adding, click 'Last' then change the Status to 'Release/Done', then click 'Update'.

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2. Customer Master Record

Insert the screenshot of your output

Add the customer data with the following information:

Address Name: [Preferred address]

Insert the screenshot of your output below:

3. Supplier Master Record

Insert the screenshot of your output

Add the Supplier data with the following information:

Address Name: [Preferred address]

Insert the screenshot of your output below:

4. Adding of Items and Bank Account

Add the following items:

Item Price w/ VAT Installment

Insert the screenshot of your output below:

Exercise 4.2 Adding of Bank Account

Bank Account No.: 987654321

Insert the screenshot of your output below:

Supplier: [Supplier in Exercise 3.1]

Insert the screenshot of your output below:

Supplier: [Supplier in Exercise 3.2]

Insert the screenshot of your output below:

5.B Purchase Process with Purchase Return

Supplier: [Supplier in Exercise 3.1]

Insert the screenshot of your output below:

5.C Purchase Process with Debit Memo

Supplier: [Supplier in Exercise 3.2]

Insert the screenshot of your output below:

Supplier: [Supplier in Exercise 3.1]

Insert the screenshot of your output below:

Customer: [Customer in Exercise 1.1]

Insert the screenshot of your output below:

Customer: [Customer in Exercise 2.2]

Insert the screenshot of your output below:

6.B Sales Process with Sales Return

Customer: [Customer in Exercise 2.1]

Insert the screenshot of your output below:

6.C Sales Process with Credit Memo

Customer: [Customer in Exercise 2.2]

Insert the screenshot of your output below:

Customer: [Customer in Exercise 2.1]

Insert the screenshot of your output below:

Add the following warehouse:

Warehouse Code: WH + (Branch)

Insert the screenshot of your output below:

Received freebies from supplier:

Insert the screenshot of your output below:

Exercise 7.3 Item Receipt

Physical inventory count is higher than system inventory count

Insert the screenshot of your output below:

Exercise 7.4 Item Issuance

Issued items due to warehouse theft.

Insert the screenshot of your output below:

Exercise 7.5 Item Issuance

Issued items due to warehouse fire.

Insert the screenshot of your output below:

Exercise 7.6 Item Transfer

Insert the screenshot of your output below:

Batch and Serial Numbers

Exercise 7.7 Batches