CengageNOWv2 General Ledger Overview for Studentsassets.cengage.com/pdf/gui_cnow2-stu-gen-ledger-guide.pdfCLGL automates some accounting functions, such as statement generation and

GENERAL LEDGER OVERVIEW FOR STUDENTS

Introduction

Cengage Learning’s General Ledger (CLGL) is an interactive problem type designed to assess your knowledge of accounting journal entries. A CLGL problem closely emulates commercial accounting systems and grades on your ability to provide the correct ending balance, rather than grading your individual journal entries.

CLGL automates some accounting functions, such as statement generation and closing entries. Additionally, you can create journal entries in any order and go back to make edits without penalty. This allows you to experience the real‐world work methods of inputting journal entries and generating statements within an dynamic, online assignment.

Contents

� “Taking a CLGL Assignment” on page 2

� “Using the CengageNOWv2 Grades Page” on page 12

� “Journal Entry Shortcuts” on page 13

Audience

This document supplies students with step‐by‐step instructions for taking a Cengage Learning General Ledger (CLGL) assignment in a Cengage Learning CengageNOWv2 (CNOWv2) course. This document assumes that the student has already completed the registration procedures for their course.

CengageNOWv2 ‐ Preparing General Ledger Assignments December 27, 2016 pg. 1

General Ledger Overview for Students

Taking a CLGL Assignment

The following is a walk‐through of the basic steps for taking a General Ledger assignment. The online Instructions that appear for each question serves as a guide for the specific sub‐system tabs and tasks for that question. The options to print journal reports and financial statements are available, however, your instructor should inform you as to which reports require printing.

To Take a CLGL Assignment

Step Action

1 Go to the Assignments page, and if necessary, select the appropriate Show me link to find the assignment you want to take or practice.

2 Depending on the status of your assignment, click Take, Retake, Practice, or Resume to open the Assignment Ready page.

3 Click Start Assignment Now to begin (the button’s label may vary slightly).




4 If more than one problem is available, use the menu on the far left to select between different problems within the assignment. You can also click the previous and next arrows in the lower right.

Step Action




5 (Optional) Click Yes in the Additional Information window to see printable instructions on how to complete the question. After closing this window, you can click the Instructions button to see this information again.

6 Select the General Ledger tab then click General Journal.

The General Journal has the following columns: Date, Refer, Account, Debit, and Credit. There may also be columns for Vendor and Customer.

Step Action




7 Click Add New Entry at the bottom of the page to open an entry field in the Date column.

8 Click the icon next to the entry field to open the calendar widget and enter the appropriate date.

9 Click in the Refer column to open an entry field and enter the appropriate reference number.

Step Action




10 Click Insert Debit Credit to create a new line where you can enter the first debit. A new entry field appears in the Account column.

Step Action




Step Action

11 Enter the account number for the first debit or click the Chart of Accounts button to select an entry from the list of accounts.

Click OK to insert your selection.

12 Click in the Debit column to open an entry field and enter the appropriate amount. For each debit or credit line, you enter the account number and name or use the Chart of Accounts to select the account information.

13 Use the amount displayed in the Proof field as a way to track the net amount of the Credits minus the Debits for the current status of your transaction.




Step Action

14 To continue, click the Insert Debit/Credit button again to insert a Credit or another Debit, following the same steps for entering an Account name, an amount, and the Vendor/Customer name (if required).

15 Confirm that the Proof is displaying zero before clicking the Post button, then click OK on the confirmation message. If you exit the problem without posting, your entries are not saved.

Note: As you work through your assignment, you can go back and edit or delete any entry before the final submission of your assignment. Simply click Post again to enter your changes.

16 (Optional) Verify your transactions are posted by clicking General Journal under Journal Reports and checking them in the report.




Step Action

17 Click the Add New Entry button to proceed with your next transaction. Also see “Journal Entry Shortcuts” on page 13 for information on shortcut key entries.

18 (Optional) When special journals are available, use the Tasks section of the General Ledger menu to open various special journals to enter transactions.

You can use these forms for data entry which are automatically computed and entered as the balancing entries, such as Accounts Receivable in the Sales Journal, or cash in the Cash Receipts Journal. All journals post to the General Ledger, with the source noted for each transaction.




19 Use the following options in your assignment — when available.

� Email Instructor ‐ (when available) sends an email withyour message if you should have questions about theassignment content. (CLGL assignments are unable tosupply a screen capture as part of the message.)

� Check My Work ‐ (when available) clicking this linkprovides feedback, saves your current response, andevaluates the correctness of your current answer(s).

� Hints ‐ tips for answering your question.

� Save and Exit ‐ saves your assignment for you toresume later. (CLGL assignments are not auto‐saved, soit is a good practice to save your work periodically.)

� Submit Assignment for Grading ‐ click this button onlywhen your assignment is complete and ready to submit.This action uses one of your assignment takes, andsome assignments only allow one take.

Note: Depending on your instructor’s settings for the assignment, some of these options may not be displayed.

Step Action




20 At the bottom of the screen is a menu with additional options:

� System Date ‐ allows you to change the system dateper any instructions that are provided. Clicking thecalendar icon opens a widget that assists in correctlyformatting the date.

� Instructions ‐ opens the Additional Instructions page,which contains specific information for completing theledger question you currently have open.

� Calculator ‐ opens a calculator to assist you withcalculations.

� Help ‐ opens a comprehensive help system withdetailed descriptions and overall instructions forcompleting a CLGL assignment.

� Close all windows ‐ clears all pop‐up windows.

21 Click the Submit Assignment for Grading button when each general ledger, customer, and vendor accounts are at the correct balance. Submitting your assignment opens the Assignment Finished page.

22 When available, click the View Assignment Results link, to review your graded responses and see which account balances are correct.

Note: For in‐depth instructions for CLGL assignments and the specific individual journals in your question, you can refer to the Help and the Instructions, which are both available from within your assignment take. You can also go to the Cengage Learning support site at http://support.cengage.com/magellanweb/TechSupport/Login.aspx to create a support case, access FAQs, complete user guides and other support materials for CenageNOWv2.

Step Action


http://support.cengage.com/Magellan/TechSupport/Login.aspx


Using the CengageNOWv2 Grades Page

There are several options for managing your Grades. You can select between a Course view or a Study Tools view to get an overview on work you’ve done for self‐study or work you’ve completed for a grade. When available, you can click on an entry in the Score column to open the View Assignment Results page.

Your Grades page supplies your assignment score as a ratio between your correct responses vs. the possible points. You can also see your grade as a percent, the date the assignment was submitted, the number of submissions, the time spent to complete your most recently submitted take, and any special notes on grading.

These topics and more are covered in detail in the CengageNOWv2 online Help or the Student User Guide available on the Cengage Learning support site (http://support.cengage.com/magellanweb/TechSupport/Login.aspx).


http://support.cengage.com/magellanweb/TechSupport/Login.aspx

Journal Entry Shortcuts

You can use the following shortcut keys to speed up your journal entries.

Key Command Action

CTRL‐Y Starts a new transaction.

CTRL‐I Inserts a new debit line.

CTRL‐O Posts the entry to the General Ledger.

TAB Takes you to the next field or adds a new debit/credit line.


Document Revision History

Date Version Description Author/Editor

6/308/15 1 CLGL overview written for a student audience.

Pamela Newsom

12/08/15 2 Removed references to Gradebook Analytics.

Pamela Newsom

08/18/16 3 ‐ Screen captures not provided for the Email Instructor feature. ‐ No auto‐save. ‐ Additional details for the Grades page. ‐ Updated images to be ADA compliant.

Pamela Newsom

12/27/16 4 ‐ Updates to contact information for Technical Support.

Pamela Newsom


Documents

CengageNOWv2 General Ledger Overview for Studentsassets.cengage.com/pdf/gui_cnow2-stu-gen-ledger-guide.pdfCLGL automates some accounting functions, such as statement generation and