IckyLeaks has also linked his file to his Visa Card credit card account. 

1. Use the bank transactions to do your data entry.  
   
   
   1. Look at each transaction,
      • check what it represents and which account code you would allocate it to.  
        
        
   2. Consider creating allocation rules for some of the common transactions listed, like
      • BP Petrol
      • Mobile Bill
      • Annual Bank Fee
        
        
   3. Allocate the Countdown transaction to staff amenities for $55. 
      
      
   4. The OfficeMax transaction was for office stationery that you purchased.
       
2. What's the Visa balance in your books?

Although this is an activity here's the breakdown of what should be done by Students.

Either use the Rules or the relevant functions to add expenses to your file.

what would be some of the common expenses

Credit Card Transaction

Allocation to:

BP Petrol

New>Spend Money

or

New>Transaction Rule

Set up rule and allocate to 6-6300 Motor Vehicle Fuel/Oil

Then Approve transactions that are created for you

Mobile Bill

New>Spend Money

or

New>Transaction Rule

Set up rule and allocate to 6-2900 Telephone Expenses

Then Approve transactions that are created for you

OfficeMax

Set up rule and allocate to 6-2700 Stationery

Then Approve transactions that are created for you

Countdown

Point out you would need to see receipt in case it needs to be split to different accounts….

For simplicity just allocate to: 6-2800 Staff Amenities

Annual Fee

Transaction Rule - 6-1300 Bank Fees