MYOB ACCOUNTING - johnwiley.com.au 18e... · MYOB ACCOUNTING by C. J. CHEETHAM BComm, DipEd, CPA, FPNA J. D. RING BComm, DipEd, CPA John Wiley & Sons Australia, Ltd INTRO TO MYOB

INTRODUCTORYCOMPUTER ACCOUNTING

A LIVE DATA APPROACH

MYOBACCOUNTING

by C.J.CHEETHAMBComm,DipEd,CPA,FPNA J.D.RINGBComm,DipEd,CPA

John Wiley & Sons Australia, Ltd

INTRO TO MYOB 2008 MYOB.indd 1 9/11/2007 11:45:39 AM

Page 1

Thiseditionpublished2008byJohnWiley&SonsAustralia,Ltd42McDougallStreet,Milton,Qld4064

©CCheetham,JRing2008

Themoralrightsoftheauthorshavebeenasserted.

ISBN9780470817292

Reproduction and communication for educational purposesTheAustralianCopyright Act 1968(theAct)allowsamaximumofonechapteror10%ofthepagesofthiswork,whicheveristhegreater,tobereproducedand/orcommunicatedbyanyeducationalinstitutionforitseducationalpurposesprovidedthattheeducationalinstitution(orthebodythatadministersit)hasgivenaremunerationnoticetoCopyrightAgencyLimited(CAL).

Reproduction and communication for other purposesExceptaspermittedundertheAct(forexample,afairdealingforthepurposesofstudy,research,criticismorreview),nopartofthisbookmaybereproduced,storedinaretrievalsystem,communicatedortransmittedinanyformorbyanymeanswithoutpriorwrittenpermission.Allinquiriesshouldbemadetothepublisher.

AcknowledgmentsJohnRingandColCheethamacknowledgetheuseofmaterialreproducedhereinwiththekindpermissionofMYOBTechnologyPtyLtdandaregratefulfortheirassistance.Theseresourceshavebeenspecificallydesignedtoassiststudentsinlearningthemethodsandprinciplesofcomputer-basedaccounting.TheyarenotinanywaymeanttoactasasubstitutefortheexcellentuserdocumentationwhichaccompaniestheMYOBAccountingSoftware.

Typesetting and layout:UnitedInternationalNetwork

Cover images: ©DigitalStock/CorbisCorporation;©PhotodiscScreencapturesfromMYOBreproducedwithpermission.Copyright©2007MYOBTechnologyPty.Ltd.

INTRO TO MYOB 2008 MYOB.indd 2 8/11/2007 2:25:49 PM

Page 2

Practice Example Company Details

• Bob’s Sports Barn is a retailer of sporting goods, specialising in exercise equipment. They have the following:

– Customers: • Harry’s Bikes D’Wheels • The Jaye Curve Gym – Suppliers: • Creative Bikes • Gorton’s Equipment – Inventory Items: • Exercise Bikes • Super Exercise Bikes• You are transferring from an existing manual accounting system to a computer

accounting system in May 2008.

B. Instructions

Open MYOB Accounting Plus v17At the Windows screen

Select MYOB Accounting Plus v17

Double [Click] . . . . . . . . . . . . . . . . . . . . . . . . . .

• You are now ready to set up the company, Bob’s Sports Barn. At Welcome to MYOB Accounting

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

INTRO-� Introduction to MYOB

Current Company Financial Conversion Accounts Name ABN Address Year Month List

Bob’s Sports 32 885 123 678 100 Bradman Cres. 2008 April Sporting Barn – Your Bowral NSW 2576 Last Month Goods Name (02) �267 3218 June Dealer


INTRO-6 Introduction to MYOB

Step 3 Accounting Information

At the Tell us about your accounting year Window Current Financial Year. . . . . . . . . . . . . . . . . . . . .2008 [TAB]Last Month of Financial Year. . . . . . . . . . . . . . . .June [TAB]Conversion Month . . . . . . . . . . . . . . . . . . . . . . . .April [TAB]Number of Accounting Periods . . . . . . . . . . . . . .Thirteen

WARNINGMakesureyouenterthecorrectFinancialYear,otherwisetransactiondatamaynotbeaccepted,e.g.‘2008’meansyourfinancialyearcommencesJuly2007andendsJune2008.

Conversion Month • TochangetheConversion Monthfield,placethemousepointerontheMONTHFIELD,

holdtheLeftmousebuttondownanddragthepointerdowntotherequiredmonth,thenreleasethemousebutton.

• YourConversion MonthisthemonthyouplantostartenteringtransactiondataforthecurrentFinancialYear.ItcanbeanymonthwithintheCurrentFinancialYear;openingaccountbalancesshouldbeenteredinthismonth.OnceyouselectyourConversion MonthyoucanNOTentertransactionspriortothatmonthintheCurrent Financial Year.InourexamplethismeansyoucannotentertransactionsbeforeApril2008.

Number of Accounting Periods • WhenyouchooseThirteenAccountingPeriods,itallowsyoutoenterallJuneEnd-of-

PeriodAdjustmentsseparately.Thisperiodisusuallykeptforyouraccountant.

• Todistinguishbetweenthe13thPeriod(June-year-endadjustments)andthe12thPeriod(Junenormaltransactions)theDATEforthethirteenthperiodMUSTalwaysbeprecededbyanasterisk(*),e.g.*30/06/08.


Introduction to MYOB INTRO-7

When completed

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Next >

At the Please confirm your accounting information Window

WARNINGBeforeacceptingthiswindow,ensureallyourselectionsarecorrect.AccountinginformationcanNOTbechangedonceyouSaveyourDataFile.

To Confirm

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Next >

Step 4 Accounts List The‘AccountsList’isthebusiness’s‘ChartofAccounts’.MYOBhasover100differentAccountsLists(Types of Businesses)tochoosefrom.YoucanBuild Your Own or Import an existing Accounts List.YouwillnowselectaListtosuitaSportingGoodsDealer.

At the Build your accounts list Window I would like to start with one of the lists provided by MYOB Accounting

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Next >

At the Select your accounts list Window Industry Classification . . . . . . . . . . . . . . . . . . . . (Down Arrow)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retail



[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Items List

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

A. Enter Item Profile Data

At Item Information Window – Profile

Item Number . . . . . . . . . . . . . . . . . . . . . . . . . . . 4401 [TAB]Name. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Exercise Bike [TAB] toI Buy This Item. . . . . . . . . . . . . . . . . . . . . . . . . . . . [Click] Left Mouse ButtonI Sell This Item . . . . . . . . . . . . . . . . . . . . . . . . . I Inventory This Item . . . . . . . . . . . . . . . . . . . . . Cost of Sales Account . . . . . . . . . . . . . . . . . . . . 5-1000Income Account for Tracking Sales . . . . . . . . . . . . . . .4-1100Asset Account for Item Inventory . . . . . . . . . . . . . . . . .1-1300



[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Edit from the Menu Bar

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Recap Transaction

The‘RecapTransactions’functioncanonlybeshownbeforeyoupress Record .

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK to close ‘Recap’

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record to process the invoice/bill

The ‘Accounting Result’ from the recording of a Supplier’s Invoice is shown here via ‘Recap Transactions’:

This result satisfies the ‘Accounting Objective’ stated previously.

Invoice # 88763, received from Gorton’s Equipment (GST Inclusive), 31st May.Enter a Tax Inclusive Purchase Invoice from Gorton’s Equipment for 5 x Super Exercise Bikes (# 5502), @ $660 each, including GST, Total $3,300.


• A‘TaxExclusive’Invoice meanstheunitpricedoesNOTincludeGST.• A‘TaxInclusive’Invoice meanstheunitpriceDOESincludeGST.• Inbothcasesthe‘BalanceDue’(InvoiceTotal)willincludeGST.

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel to return to Command Centre

b. Sale of Goods

Toprocessasalestransactionyoushould:A SelecttheTypeofSalesLayoutforyourinvoices •Item/Service/Miscellaneous,etc.B EnterCustomerInformation •Name/Address/Terms/CreditLimit,etc.C EnterItemInformation(forItemLayout) •Quantity(ship) •Number/Description/Price •TaxCode/JobNumberD EnteranyadditionalSalesInformation •Salesperson •Shippinginstructions/comments •Freightcharged •PaidToday(cashsale)E RecordtheSaleTransaction •Print/Email/FaxInvoicetoCustomers •SaveasRecurring(ifrequired)



Introduction to MYOB INTRO-�9

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Display

Add Report to the Menu BarYou will now add the Trial Balance report to the Menu Bar.

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Customise

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Finishing

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Add to Reports Menu

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Display

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close Close

Any report can be added to the Menu Bar – Reports using this technique.

To check your Reports List

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reports (from the Menu Bar)

Trial Balance – May



• Select the Purchases Register

• Change the original order information

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK (at Warning)

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close

Date01/05

HighlightoriginalOrder#3

ChangetoBill

Useinformation(data)fromSupplier’sInvoice

Supplier


PU-14 Purchases

If you pay your supplier electronically, you should [Click] Payment Details and enter Details here for BSB Number, Bank Account Number and Account Name.

• Now enter the remaining Supplier Card Files for Top Trophies, Magnum Trophies, Tropo Trophies and SMB Trophies.

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SupplierName Credit Tax Payment andAddress Ident. Limit$ ABN Code Terms Details Top Trophies E – 20,000 87 444 333 456 GST 5% 142 Christie Avenue East 10 days Mount Gambier 5290 SA Net Ph: 08 7623 4420 30 days Fax: 08 7623 4421 Contact: P. Long

Magnum Trophies E – 20,000 16 778 999 001 GST 5% 113 Avondale Road East 10 days Myponga 5202 SA Net Ph: 08 5251 7778 30 days Contact: X. Ottic

Tropo Trophies E – 20,000 32 555 666 998 GST 5% 24 Gatts Road East 10 days Renmark 5341 SA Net Ph: 08 5649 3452 30 days E-mail: [email protected] www.tropo.com.au Contact: B. Madd

SMB Trophies E – 15,000 32 111 223 445 GST 30 days Electronically 3 Tara Rd East Net BSB 082-111 Mount Gambier A/C#202303 SA 5290 Acct Name Ph: 08 7623 5555 SMB Contact: B. Linder TROPHIES

PURCHASES 2008 MYOB.indd 14 6/03/2008 1:07:54 PM

PU-22 Purchases

Purchase # . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200

Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 08/07

Supplier Inv # . . . . . . . . . . . . . . . . . . . . . . . . . . 674

Bill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 650[TAB]toItemNumber

AtItemNumber[TAB] to show Item List

Highlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (T340)SmallTrophies

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Use Item [TAB]toPrice

Price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

• Now enter Invoice # 690, Bill received from A & D Trophies, 13th July.

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel toreturntoCommandCentre

Supplier’s Purchase Supplier Item Price Total$ Name # Date Inv.# Bill Number Ex-Tax Amount

A & D 201 13/07 690 60 T340 $10 $660 Trophies

The ‘AccountingResult’ from recording a Supplier Invoice is shown here via ‘Recap Transactions’:

This satisfies the ‘AccountingObjective’ stated previously.


PU-24 Purchases

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Purchases Register

This gives you a look at all the transactions entered so far, and their ‘Status’.

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close

3SupplierCreditNotes(TaxAdjustment)

Credit Notes are recorded, when received from a Supplier, to reduce the debt owed to the Supplier. The information recorded will also update the Inventory on Hand value for damaged or oversupplied goods.

There are two ways to record a Supplier Credit Note:1. Reverse the original purchase (to cancel the entire purchase), OR2. Create a NEW negative invoice (to cancel part of the purchase)

We will be using Method 2 (creating a negative invoice)

Two steps are required to enter Credit Notes using method 2:1. Enter the Credit Note as a Negative Purchase (negative Invoice/Bill).2. Match the Negative Purchase against the Supplier’s outstanding Invoice balance.

When you receive a Credit Note (Tax Adjustment) from a Supplier, the ‘AccountingObjective’ is to record the reduction in the debt owed to the Supplier, and the reduction in Inventory (or the value of inventory) on hand. At the same time, any GST Paid recorded previously will have to be adjusted. Debit: Accounts Payable Credit: Inventory Credit: GST Paid

‘Open’ means that the invoice/goods have been supplied but the supplier has NOT yet been paid.‘Order’ means goods have been ordered from suppliers, but NOT yet received.


The ‘AccountingResult’ from recording an early payment discount is shown here via ‘Transactions Journal’.

This satisfies the ‘AccountingObjective’ stated previously.

• Now pay both Purchase # 202 and 205, for Top Trophies (Total of $11,121.00). No discount is taken.

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel

PRINTREPORTSYou will now Print the following:

• Purchase and Payables Journal

• Cheques

• Trial Balance

• Payables Ageing

• Purchase Register [All Purchases] – optional (Display to Screen)

Purchases PU-47

T9 PaySuppliers–NoDiscountPurchases > Pay Bills > Supplier


PU-60 Purchases

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reverse Purchase

The invoice is now negative (–1320.00) and can be ‘Recorded’ and then set off against the incorrect invoice. This will cancel the original invoice.

Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28/09

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record Reversal

Step2 SettleReturnsandDebits(Purchase#216)

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Returns & Debits


Purchases PU-61

At PurchasesRegisterWindow

Highlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A&DTrophies–$1320

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Apply to Purchase

Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28/09

Amount Applied Purchase #204 . . . . . . . . . . . . 1320[TAB]

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close

Step3 EntertheInvoicecorrectly

Invoice #704 for 120 x T340 @ $11 each, $1,452. Use a New Purchase # 204A for this corrected invoice.

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel

T3 EnterSupplierInvoice–NoPreviousPurchaseOrder


Purchases PU-83

Set System Date – 1st April

SET UP COMPANY – Business Machines Pty Ltd

Business Machines Pty Ltd75 Carter Ave Camden NSW 2488Ph: 02 7476 8001ABN # 32 666 884 333Conversion Month: April

SET UP PURCHASES– Use Item Invoice layout, Credit Limit $20,000 and all Suppliers are paid by cheque.

Card Contact Tax Credit Type Name Address Phone # Identifiers Name Terms Code Limit

Supplier A.K. Manufacturers 180 Quay St 02 9266 5879 S – G. Jones 5% 10 GST 20,000 Sydney Sydney Net ABN NSW 2000 30 32 411 522 633 Days

Supplier Modern 201 King St 03 3933 4667 M – P. Grey Net GST 20,000 Machines Pty Ltd Melbourne Melbourne 30 VIC 3000 Days ABN 32 887 665 443

Supplier P. Woods Ltd 266 South Rd 07 7911 6540 B – I. Moir Net GST 20,000 Brisbane Brisbane 30 ABN QLD 7000 Days 16 223 445 667

S2 Set Up a Company File MYOB Accounting > Create

S12 Set Up Purchases ModuleESA > Purchases

• Business Machines Pty Ltd is a retailer of various types of business office machines. The company has three suppliers of the machines they sell in their business.

• The source documents that follow relate to transactions for the month of April.

• Inventory Items are recorded GST Exclusive.

• Other – Retail Business, Other


At Item Number[TAB] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . to show Item ListLook for . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Chairs (822) [Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Use Item [TAB]Salesperson . . . . . . . . . . . . . . . . . . . . . . . . . . . Static, Xavier

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel

Sales SA-23

The ‘Accounting Result’ from the recording of a Sales (Tax) Invoice is shown here via ‘Recap Transactions’ .

This satisfies the ‘Accounting Objective’ stated previously .

SALES 2008 MYOB.indd 23 6/03/2008 1:08:55 PM

SA-94 Sales

PRINT TRANSACTION REPORTS

• Customer Sales Summary• Sales and Receivables Journal

END OF PERIOD – November

END OF PERIOD REPORTS• Receivables Ageing Summary

R2 Print Any Report Reports > Select Module

Rosie’s RosesAged Receivables

30th November

Name Total Due 0–30 31–60 61–90

Thirroul Nursery $660 .00 $660 .00 $0 .00 $0 .00

Roses R Us $1,210 .00 $1,210 .00 $0 .00 $0 .00

Camden Gardens $1,210 .00 $1,210 .00 $0 .00 $0 .00

Total $3,080 .00 $3,080 .00 $0 .00 $0 .00

R17 End of Period Processing – Close Month Setup > Preferences > Security

Sales [Customer Summary]

1st November through 30th November


Sales SA-131

REQUIRED FOR OCTOBER• Process Transactions .• Extract Reports .

See ‘What You Have To Do’ page .


INV-� Inventory, Purchases & Sales

Practice Example – July

Complete ‘Introduction to MYOB’ – Chapter 1 and read pages INV-4 and INV-5

START Set System Date – 1st July

SET UP COMPANY – Back Bench Gym SuppliesA. Description/Data To Set up a Company you will have to enter your Company details, such as Name, Address etc., as well as Accounting details, for example the end of your Financial Year, number of Accounting Periods and the month in which you plan to start entering accounting data.

B. Instructions

Use the ‘Key’ to help you set up Back Bench Gym Supplies OR See ‘Set up a Company’ in the ‘Introduction to MYOB’ chapter as a guide.

SET UP ACCOUNTS

A. Description/Data To set up the Accounts you will have to adjust your Accounts List; this will involve:

• Edit Accounts from your Accounts List – Trade Debtors and Creditors.

• Enter Opening Balances.

S2 Set Up a Company File

Account # New Name Type 1-1200 Change to: Accounts Receivable Detail 2-1200 Change to: Accounts Payable Detail

Current Company Financial Conversion Accounts Name ABN Address Year Month List

Back Bench 32145321�99 248 Whitlam Close 2008 July Retail – Gym Supplies Barton ACT 2�00 Last Month Exercise – Your Name (02) �484 3542 June Equipment Dealer

INVENTORY 2008 MYOB.indd 6 6/03/2008 1:00:02 PM

Inventory, Purchases & Sales INV-17

2 Record the actual Quantity of each item on hand

At the Inventory Command Centre Window

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Count Inventory

At the Count Inventory Window

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Counted

Item # 7324 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 [TAB]

Item # 7328 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200

Item # 9824 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Item # 9888 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

Item # 9890 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

Item # 9900 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Adjust Inventory

At the Adjustment Information Window

Default Expense Account

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Continue At the Opening Balance Check Window

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Opening Balances At the Account Balance Check Window

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Adjust Balances


INV-20 Inventory, Purchases & Sales

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Enter Purchases

At the Supplier field press [TAB] to bring up the List of your Suppliers or type in the first letter of the supplier’s name, e.g. M.

At the Purchases New Item Window

Supplier . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [TAB]From your Supplier List . . . . . . . . . . . . . . . . . . . Menzies [Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Use Supplier

Select . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BILLTax Inclusive . . . . . . . . . . . . . . . . . . . . . . . . . . . Purchase # . . . . . . . . . . . . . . . . . . . . . . . . . . . . 155 Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20/07Supplier Inv # . . . . . . . . . . . . . . . . . . . . . . . . . . 3107 Bill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

At Item Number [TAB] to show Item List

Look for . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Walking Machines

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Use Item

Price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300 [TAB]

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

Now enter Invoice No. 9342 from Gorton’s Equipment Pty Ltd. See page INV-19.

When finished [Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel to return to Command Centre



Step 1 – Create the Credit Note by Changing the Order to a Bill

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Enter Purchases

At the Purchases New Item Window

Supplier . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gorton’s [TAB]

At the Select from List Highlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Order # 156 –$110

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Use Purchase

Change details on order

Purchase # . . . . . . . . . . . . . . . . . . . . . . . . . . . . CN999

Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 01/08

Supplier Inv # . . . . . . . . . . . . . . . . . . . . . . . . . . 9342 [TAB]

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Bill

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel

Step 2 – Match up the Credit Note with Supplier’s outstanding invoice balance

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Purchases Register

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Returns & Debits

At the Purchases Register Window

Highlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CN999 –$110

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Apply to Purchase

Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 01/08 [TAB]

PO # 15� ($8250)

[Click] Amount Applied . . . . . . . . . . . . . . . . . . . 110 [TAB]

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close


INV-5� Inventory, Purchases & Sales

At the Backorder List Window

Build [x] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Build

At the Auto-Build Inventory Window

Quantity to Build . . . . . . . . . . . . . . . . . . . . . . . . 10 [TAB]

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Build Items

At the Build Items Window

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

You should now be back at the original Invoice # 3�05.



[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close

STOCKTAKE• Inventory Items On Hand 31st August as per physical stocktake

No Items need to be adjusted, Stock on Hand figures match the Physical Items counted.Make sure your stocktake equals the computer records for inventory on hand.

If your figures agree with the physical stocktake, then:

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel

Item # Counted 7324 10 7328 258 8000 40 8100 40 8200 40 8300 0 8400 0 9824 45 9888 13 9890 0 9900 0

T37 Stocktake – Count Inventory On Hand Inventory > Count Inventory > Counted


INV-�0 Inventory, Purchases & Sales

Sales [Item Summary]

August



[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Delete Inventory Item

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close

You cannot delete an item you have used during the current financial year. When you roll-over to the new financial year, the item can then be deleted. You can ‘remove’ an inventory item from the Select From List by simply marking the inventory item as inactive . This will NOT delete the item but it will prevent you from using this item in Sales and Purchases Modules. You will now make Item # 9890 (Skipping Rope) inactive.

S36 Make Inventory Item Inactive Inventory > Items List



PRINT REPORTS

You will now Print the following Reports:• Inventory Journal• Purchases Item (Summary)• Sales Item (Summary)

Inventory JournalSeptember

Purchases [Item Summary]September

Sales [Item Summary]September

R2 Print Any Report


BA-16 Banking

BANK RECONCILIATION

A. Description/Data You will now RECONCILE Banking Transactions for June with the Bank Statement. There are FIVE steps to this procedure:

1. Enter Bank Fees, from the Bank Statement, that are NOT already in our accounting system.

2. Reconcile the Bank Statement to the Cheque Account.3. Correct any errors found in the reconciliation procedure.4. Complete the Reconciliation.5. Print the Reconciliation Report.

B. Instructions 1 Enter Bank Fees – $30 from the Bank Statement. Bank Fees charged to our Bank

Account need to be entered into our accounting system using the Banking Module.

At the Banking Command Centre Window

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reconcile Accounts

T47 Reconcile Bank Statement

The Accounting Result from the recording of a Cash Receipt is shown here via ‘Recap Transactions’. This result satisfies the Accounting Objective to increase the Cheque Account balance and to increase Income and GST collected.

ANX BANK account statement Statement no.: 0001 From: 1 June To: 30 June Account no.: 960334-55697

Account name: Liquid Assets

Date Particulars Debit Credit Balance

Liquid Assets222 Cobar Rd Broken Hill NSW 2880

1 Opening Balance 9,180.00.00 CR 3 Deposit 1,000.00 10,180.00.00 15 Cheque # 884132 220.00 9,960.00.00 21 Cheque # 884133 330.00 9,630.00.00 23 Cheque # 884131 180.00 9,450.00.00 30 Bank Fees 30.00 9,420.00.00 30 Deposits 462.00 9,882.00 CR

BANKING 2008 MYOB.indd 16 6/03/2008 12:26:05 PM

Banking BA-17

At the Reconcile Accounts Window

Account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-1110 [TAB]

New Statement Balance . . . . . . . . . . . . . . . . . . 9882 [TAB]

Bank Statement Date . . . . . . . . . . . . . . . . . . . . 30/06 [TAB]

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Bank Entry

At the Bank and Deposit Adjustments Window Service Charges

Amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

ID. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SC300608

Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30/06

Expense Account. . . . . . . . . . . . . . . . . . . . . . . . 6-1200

Tax Code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . N-T

Memo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Monthly Bank Charges [TAB]

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record


BA-22 Banking

B. Instructions 1 Inquire on Cheque Account Balance

At the Banking Command Centre . . . . . . . . . . . . Find Transactions Scroll Down

Select . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Account

At the Find Transactions WindowAccount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-1110 [TAB]

After checking the Account Balance

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close to return to Command Centre

2 Cash Flow – future cash needs

At the Banking Command Centre Window

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Analysis Scroll to Cash Flow

At the Cash Flow Worksheet Window

Days to Look Ahead . . . . . . . . . . . . . . . . . . . . . 30

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Analyse Cash Needs

T45 Bank Account Balance – Inquiry

T48 Cash Flow Analysis

Error adjustment $462.00


BA-24 Banking

At the Index to Reports Window

Cheques & Deposits . . . . . . . . . . . . . . . . . . . . . Bank Register

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Customise

Dated From . . . . . . . . . . . . . . . . . . . . . . . . . . . . 01/06

To. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30/06

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Display

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close

OR

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Print

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Print

• Now Display or Print Cash Disbursement and Cash Receipts (Transaction Journals).

Cash Disbursement JournalJune

Bank RegisterJune


Banking BA-39

Unpresented Cheques at 31st July.

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reconcile

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reconcile

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel

PRINT REPORTS AND CHEQUES

• Print the Bank Register and the Reconciliation Report for Account # 1-1110.

R2 Print Any ReportBanking > Reports

Bank RegisterJuly


BA-54 Banking

END OF PERIOD PROCESSING – August

R17 End of Period Processing – Close MonthSetup > Preferences > Security

Reconciliation Report

August

ID# Date Payee Deposit Withdrawal


Banking BA-55

Trial BalanceAugust

Bank RegisterAugust


BA-74 Banking

PRINT REPORTS AND CHEQUES

• Transactions Print: Bank Register, Cash Disbursements Journal, Cash Receipts Journal, Bank

Deposit Slip and Reconciliation Report.

• Cheques – Print Cheques #91230 to #91238

Bank ReconciliationMarch

Bank RegisterMarch

R2 Print Any Report

R10 Print Cheques – Banking Module


Banking BA-81

BANK RECONCILIATION

PRINT REPORTS AND CHEQUES• Print:

• Bank Register

• Cash Disbursements Journal

• Cash Receipts Journal

• Bank Deposit Slip

• Reconciliation Report

• BAS (optional)

ANZ BANK account statement Statement no.: 0001 From: 1 January To: 31 January Account no.: 773654001

Account name: U.R.R.C. Holdings Ltd


Ria’s Hair Salon360 Cowper St Hawthorn VIC 3122

1 Opening Balance 20,000.00 CR 8 Cheque # 665911 550.00 19,450.00 11 Cheque # 665913 275.00 19,175.00 26 Cheque # 665915 880.00 18,295.00 30 Cheque # 665912 660.00 17,635.00 31 Deposit 10,670.00 28,305.00 31 Bank Fee 30.00 28,275.00 CR

Ria’s Hair Salon360 Cowper St Hawthorn VIC 3122

Bank RegisterJanuary


BA-82 Banking

Reconciliation ReportJanuary

END OF PERIOD PROCESSING – January


Payroll PR-21

At the Process Payroll – Select Pay Period Window

Process all employees paid . . . . . . . . . . . . . Weekly

Payment date: . . . . . . . . . . . . . . . . . . . . . . . . . . 7/7

Pay period start: . . . . . . . . . . . . . . . . . . . . . . . . 1/7

Pay period end: . . . . . . . . . . . . . . . . . . . . . . . . . 7/7

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Next

At the Process Payroll – Select & Edit Employee’s Pay Window

[Click] on . . . . . . . . . . . . . . . . . . . . . . . . . Smith, Paul

At the Pay Employee WindowCheque No . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1Base Hourly . . . . . . . . . . . . . . . . . . . . . . . . . . . . [TAB] to Job ColumnJob: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1Scroll Down . . . . . . . . . . . . . . . . . . . . . . . . . . . . to see deductionsCredit Union Savings . . . . . . . . . . . . . . . . . . . . – 40WA Health Fund . . . . . . . . . . . . . . . . . . . . . . . . – 10

PAYROLL 2008 MYOB.indd 21 6/03/2008 1:06:13 PM

PR-22 Payroll

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

Now enter Payroll data for Joe Velo (Job # 2) .

Base Hourly 40 Holiday Leave Loading Nil Holiday Pay Nil Overtime (1 .5) 2 Overtime (2) 1 Sick Pay Nil Credit Union Savings – $40 WA Health Fund – $20

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

Deductions are (-ve) negative, i.e. deducted from gross pay.


Payroll PR-23

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Continue

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

To cover the amounts paid to employees from the Payroll Cheque Account (current balance $0), we will transfer the cash from the main business cheque account, 1-1110 .

This is achieved by processing the payment/transfer through the Spend Money function in the Banking Module .

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Spend Money

The ‘Accounting Objective’ is to:

Debit: Payroll Cheque Account (1-1120) Credit: Cheque Account (1-1110)


PR-24 Payroll

Payee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash for Wages

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Next

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Display Payroll Advice

Payroll Advice

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close Finish

The ‘Accounting Result’ from the transfer of funds to the Payroll Cheque Account from the Cheque Account is shown here via ‘Transaction Journal’ .


Payroll PR-25

• Print Paycheques from the Payroll Cheque Account All pays, whether cheques, direct bank deposits or cash MUST be printed via Print Paycheques in order to clear the Payroll system.

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Print Paycheques

At the Review Cheques Before Printing Window

Selected Bank Account . . . . . . . . . . . . . . . . . . . Payroll Cheque Account

Number of First Cheque in Printer . . . . . . . . . . 1 [TAB]

[Check] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Smith

[Check] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Velo

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Print

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Print

R12 Print Employee Paycheques


PR-26 Payroll

Set System Date – 14th July

• Pay Employees for the second week ending 14th July, using Key T60

* Allocate ‘Sick Pay’ to Job # 2. Pay employees from the Payroll Cheque Account. The next cheque number is No. 3. Transfer funds from the Cheque Account to the Payroll Cheque Account via the ‘Spend Money’ function.

T60 Pay Employees

Name Paul Smith Joe Velo Base Hourly 40 32 Holiday Leave Loading – – Holiday Pay – – Overtime (1 .5) 4 2 Overtime (2) 4 – Sick Pay – 8* Credit Union – $40 – $40 WA Health – $10 – $20 Job # 1 2

Payroll Advice

8/07 To 14/07

(Continued over page)


Payroll PR-27

– For week ended 14th July

PRINT PAYROLL REPORTS

Payroll1 . Register Summary – July2 . Payroll Summary – July – 01/07 to 14/07

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Reports

At the Index To Reports Window – Employees

Highlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Register Summary

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Customise

At the Register Summary Window – Advanced Filters Period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . July

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Display


R2 Print Any Report


PR-28 Payroll

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Print Print

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close

• Now print the Payroll Summary from the ‘Payroll Categories’ reports Group

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close

• Print Job Activity Summary from the ‘Jobs’ reports Group

At the Index To Reports Window[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accounts

Highlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jobs – Activity Summary

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Customise

At the Activity Summary Window – Advanced FiltersDated From . . . . . . . . . . . . . . . . . . . . . . . . . . . . 01/07 [TAB]

To . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14/07

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Display

R16 Print Jobs Report

Payroll Register (Summary)July

Payroll Summary1/07 to 14/07


Payroll PR-29

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Print

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Print

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close

PRINT TRIAL BALANCE

R1 Print Accounts Report – Trial Balance Accounts > Reports

Trial BalanceJuly

Job Activity (Summary)1st July To 14th July


Payroll PR-31

Set System Date – 21st July

TIMESHEETS – PAYROLL

Payroll data can now be entered via ‘Timesheets’ for those businesses that use a ‘timesheet’ to record employees’ work times . This means that an employee’s pay is calculated directly from the information entered via the timesheet .

The Process is:

1. Setup Timesheets for use (Enable Timesheets)

2. Adjust the settings for each employee (Cardfile) – Wages – Standard Pay 3. Enter the Timesheet for each employee

4. Process the Pay .

We will now process pays for P . Smith and J . Velo, using a timesheet for the week ending 21st July .

Step 1 Enable Timesheets

To be able to use the Timesheet facility, we have to enable ‘Timesheets’ for the calculation of an employee’s pay.

At the Command Centre Window[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Setup (Menu Bar)

Highlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Preferences

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . System

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I use Timesheets for Payroll and my week starts on Sunday

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK


PR-32 Payroll

As an alternative, you can use the Easy Setup Assistant > Payroll > Timesheets to enable the Timesheet facility.

At the Command Centre Window

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Enter Timesheet

Your Timesheet will look like this:

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

Step 2 Adjust Settings

We now need to adjust the settings for these two employees, i .e . Pay Basis must be ‘hourly’ and Base Hourly hours must be zero (0) . To avoid duplication of hours paid, hours must be shown as zero (0) . This is because MYOB will pay the standard pay plus the hours recorded on the timesheet, if this is not done .

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cards List

Highlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Paul Smith

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Edit

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Payroll Details

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Wages

Pay Basis* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Hourly

* Pay Basis must be ‘Hourly’ for a Timesheet – not ‘Salary’.


Payroll PR-35

Job . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

Saturday 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 [TAB]

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

Now, enter the timesheet for J . Velo .

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

Step 4 Process PaysProcess the Payroll for the week ending 21st July .

At the Command Centre Window

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Process Payroll

T60A Process Payroll and Reimbursement of Payroll Cheque Account for Cash Pays

J . Velo works 40 hours plus 2 hours at time-and-a-half (1 .5x) on Wednesday and 3 hours double time (2x) on Sunday (Job # 2) .


PR-36 Payroll

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Next

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Smith, Paul

Cheque No . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

The 40 hours Base Hourly and 4 hours Overtime automatically appear here on the paycheque directly from the information entered on the employee’s timesheet.

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Velo, Joe

Cheque No . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Continue OK


Payroll PR-37

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Spend Money

Payee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash for Wages

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Next

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Print Customised Payslips

Number of First Cheque in Printer . . . . . . . . . . 5

[Check] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Chq # 5

[Check] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Chq # 6

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Print Print Finish


Payroll PR-47

At the Entitlement Exemptions Window

Using the Mouse pointer Exempt all the Wage Categories items except for Base Hourly, Holiday Pay, Long Service Leave and Sick Pay .

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK • Sick Leave Accrual – Modify

Highlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sick Leave Accrual

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Edit Entitlement

At Entitlement Information Window

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

At the Entitlement Exemptions Window Using the Mouse pointer Exempt all the Wage Categories items except for Base Hourly, Holiday Pay, Long Service Leave and Sick Pay .

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK


PR-52 Payroll

Enter Bank Information for W. Acrim – paid electronically by Bank Transfer to his bank account.

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Payment Details

Payment Method . . . . . . . . . . . . . . . . . . . . . . . . Electronic

Electronically distribute net pay among . . . . . . 1

BSB Number . . . . . . . . . . . . . . . . . . . . . . . . . . . 678127 [TAB]

Bank Account Number . . . . . . . . . . . . . . . . . . . 2638294

Bank Acct Name . . . . . . . . . . . . . . . . . . . . . . . . W & I ACRIM

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Phone Date of Start Method Bank Name Address No. Birth Date of Payment Information

2 45 Chester Rd 03 7422 1515 6/11/50 2/5/88 Electronic BSB 678127 Acrim Bellerive A/c # 2638294 Wassi TAS 7018 W & I Acrim


PR-70 Payroll

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Continue

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

• Prepare Electronic Payments – Acrim

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Prepare Electronic Payment

At the Prepare Electronic Payments Window

Pay from Account 1-1120 – Payroll Cheque Account

(Column) . . . . . . . . . . . . . . . . . . . . . . . . . . .

–$126 enter manually


Payroll PR-71

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Save

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel

At the Process Payments Window

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Next>

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Finish

*Cheque # = 2 *Base Hours = 63 (see Timesheet over) *O/Time x 1 .5 = 2 (see Timesheet over) *O/Time x 2 .0 (Adjustment) = 4 (see Pay Variation) *Sick Pay Hours = 7 (see Timesheet over) *Commission Received this pay = $50 *Additional Superannuation paid = – $46 .20 *Job Centre = No .1

selected to prepare electronic payment

Now process Payroll data for Birmingham as ‘ Process individual employee’ (Paid by Cheque from the Cheque account) . Also Adjust B. Birmingham’s pay for this period, additional 4 hours overtime worked on Saturday at double time not recorded on Timesheet .


PR-72 Payroll

At the Select & Edit Employee’s Pay Window

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Birmingham

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

TIMESHEETP. ROWLES & CO.

PERIOD ENDED: 30/06 DEPARTMENT: Sales PAY: Fortnight NAME: Birmingham B . POSITION: Salesperson

IN OUT NORMAL HRS O/T HOURS

MONDAY 9 .00 7 .00 7 2 TUESDAY 9 .00 5 .00 7 WEDNESDAY 9 .00 5 .00 7 THURSDAY SICK 7 FRIDAY 9 .00 5 .00 7 SATURDAY SUNDAY MONDAY 9 .00 5 .00 7 TUESDAY 9 .00 5 .00 7 WEDNESDAY 9 .00 5 .00 7 THURSDAY 9 .00 5 .00 7 FRIDAY 9 .00 5 .00 7 SATURDAY

TOTAL 63 7 2


Payroll PR-77

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Continue OK

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Spend Money *

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Next>

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Finish

* By selecting ‘Spend Money’ we are transferring the amount of this termination pay from the Cheque Account to the Payroll Cheque Account. This is reimbursing the Payroll Cheque Account from our main Cheque Account. We could have left this for now and done it later with any other pays made from the Payroll Cheque Account.

4. Enter Termination Date To clear all entitlement balances and delete recurring paycheques for Adams .

At the Command Centre

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cards List

Highlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Adams

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Edit

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Payroll Details

Termination Date . . . . . . . . . . . . . . . . . . . . . . . . 30/06 [TAB]

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK at warning


PR-88 Payroll

Step 4 of 9 Set Up the Payment Summary Fields At the Payment Summary fields – split Window

Highlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gross Payments

At the Select Payroll Categories Window Using the mouse pointer, Check the following Payroll categories:

Base Hourly Holiday Leave Loading Overtime (2x) Base Salary Holiday Pay Sick Pay Commission Overtime (1 .5x) Unused Holiday Pay

Highlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Allowance 1

In Description Column – type in . . . . . . . . . . . . Travel [TAB]

At Select Payroll Categories Window

Using the mouse pointer . . . . . . . . . . . . . . . . . . Travel Allowance

Select all Payroll Categories for Gross Payments.

Highlight


Payroll PR-89

At Payment Summary Field Window

Highlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Lump Sum Payments A

Using the mouse pointer . . . . . . . . . . . . . . . . . . Termination Pay

Highlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Deduction 1, etc. (Use down arrow)

Description . . . . . . . . . . . . . . . . . . . . . . . . . . . . Union Fees [TAB]

Using the mouse pointer . . . . . . . . . . . . . . . . . . Union Fee

Highlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Tax Withheld

Using the mouse pointer . . . . . . . . . . . . . . . . . . PAYG Withholding

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Next >

Step 5 of 9 Enter Reportable Fringe Benefit

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Next >


PR-90 Payroll

Step 6 of 9 Review Individual Payment Summaries At the Review Individual Payment Summaries Window

To view PAYG Payment Summary for Acrim

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Acrim

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Next >

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Print

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Print


Payroll PR-91

Step 7 of 9 Save the EMPDUPE File . . . . . . . . . Next > [Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Save

The EMPDUPE File contains all the Payroll Information for the business’s employees and can be sent to the ATO (Australian Tax Office).

Step 8 of 9 Check the EMPDUPE file totals

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Next >

Step 9 of 9 That's It! You're Finished

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Finish

END OF PERIOD PROCESSING

A. Description/DataEnd of Period Processing involves three Steps: 1. Period end Processing 2. Start a New Financial Year 3. Start a New Payroll Year

You should always back up your Company file before starting a New Year. B. Instructions 1 Period End Processing

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Setup from the MYOB Menu Bar

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Preferences from the Setup Menu

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Security

Lock Periods: Disallow Entries Prior To: . . . . . . . . . . . . . . . . . . .30/06

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

R17 End of Period Processing – Close Month


PR-94 Payroll

P. Rowles & Co. – Your NameTrial Balance

June


Payroll PR-99

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close Close

• Enable Timesheet facility

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Setup (from Menu Bar)

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Preferences

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . System

Select . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I use Timesheets for:

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Payroll

and My Week Starts on . . . . . . . . . . . . . . . . . . . Tuesday

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

As an alternative, timesheets can be enabled by selecting:

Easy Setup Assistant (ESA) > Payroll > Timesheets

Change Pay Rate


Payroll PR-103

Pamela has no pay deductions .

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record Continue OK Next >

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Finish

• Print Paycheques (Cheque Account)



PR-104 Payroll

PRINT PAYROLL REPORTS

• Print Payroll advice

• Register Summary• Payroll Summary

END OF PERIOD REPORTS

• Print Job Activity and Trial Balance

R14 Print Employee Pay Advice Slips

R1 Print Accounts Report – Trial Balance

R2 Print Any Report

R16 Print Jobs Report


Payroll PR-113

Payroll Register (Summary)July

Chemney Enterprises – Your NameLight Square Adelaide SA 5000

Entitlement Balance (Detail)July

Payroll SummaryJuly


PR-136 Payroll

Click to the right of 1 June

The Date should now be week of 2 June - 8 June

Enter the hours worked for the second week of the fortnight as per the timesheet .

By clicking or we can view the timesheets prepared for the two (2) weeks of the fortnight.

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK to record the timesheet

To process the fortnightly pay for Anderson:

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Process Payroll

You should note that two (2) weekly pays appear for Anderson for this fortnight.

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Next > Record Continue

OK Next > Finish


Payroll PR-139

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Next >


Set System Date – 13th July

ENTER TRANSACTIONS

A. Description/Data

You will now enter Transactions up to the 13th July: 1. Supplier Invoice 2. Supplier Credit Note 3. Sales Invoice 4. Receipt (Payment) from a Customer 5. Payment to a Supplier – including Early Payment Discount 6. Print Cheque

B. Instructions

1 Supplier Invoice – for goods purchased on credit

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel

Integration INT-21

Purch. Supp. Item Price Freight Total Supplier’s Name # Date Inv. # Bill # Ex-Tax Ex-Tax $ Zambian Bros 190 03/07 201 700 EL001 10 – –

500 LL001 5 50 10,505

T3 Enter Supplier Invoice – No Purchase Order Purchases > Enter Purchase > Bill

INTEGRATION 2008 MYOB.indd 21 6/03/2008 12:56:21 PM

2 Supplier Credit Note

Goods returned damaged, Supplier Invoice 201, Order # 190, 3rd July .

Two steps are required to enter Credit Notes: 1. Enter the Credit Note as a Negative Purchase. 2. Match the Negative Purchase against the Supplier’s outstanding balance.

Step 1 Create Credit Note (–ve)

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel

Step 2 Set Credit Note off against Invoice (Number 201, PO# 190)

INT-22 Integration

Purch. Supp. Item Price Total Supplier’s Name # Date Inv. # Bill # Ex-Tax Freight $

Zambian Bros 191 05/07 CN303 (–20) EL001 10 – (220)

T5 Enter Credit Note received from Supplier Purchases > Enter Purchase > Bill (–ve)


[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close

3 Customer Invoices – for goods sold on credit

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record Cancel

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel

4 Payments From Customer – Full Payment of Invoice # 106

Integration INT-23

Inv. Cust. Item Total Customer # Date PO # Ship # $ Hannas Hotel 107 10/07 123 500 EL001 16,500

T13 Create a Customer Sales Invoice Sales > Enter Sales > Invoice

Amount Applied

ID Amount Discount Amount Customer # Date Received $ $ Applied $ Hannas Hotel CR000002 13/07 9350 – 9350


[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel

5 Pay Suppliers – Early Payment Discount (PO# 189, 30/06)

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

INT-24 Integration

Amount Paid

Discount $110

T8 Pay Suppliers – Early Payment Discount Purchases >Pay Bills > Supplier

Discount $ Supplier Cheque # Date Amount $ Incl. GST

Zambian Bros 123456 10/07 5,390 110

T26 Receive Customer PaymentsSales > Receive Payments > Customer


[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cancel

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close

END OF PERIOD ADJUSTMENT

A. Description/Data

You will now enter the monthly Depreciation charge for Store Equipment and save the Journal entry as recurring.

B. Instructions

7 Journal Entry

INT-30 Integration

Account Debit Credit Date Memo No. $ $ Tax

31/07 Monthly Depreciation 6-1300 1,000 N-T

1-2620 1,000 N-T

T50 Record a Recurring Journal Entry Accounts > Record Journal Entry


B. Instructions

Before you do your Bank Reconciliation you should adjust your records for any Bank Fees and Charges – Bank Entry .

1 Bank Fees – $15 (expense account # 6-1200)

[Click] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record

INT-32 Integration

T47 Reconcile Bank Statement Banking > Reconcile Accounts > Account

ANZ BANK account statement Statement no.: 001 From: 1 July To: 31 July Account no.: 69251-10267

Account name: Liquid Assets


Boutique Cellars50 Wombat AveNoosaville QLD 4566

1 Opening Balance 6,500 .00 CR 1 Cheque # 123455 1,100 .00 5,400 .00 1 Deposit 600 .00 6,000 .00 13 Deposit 9,350 .00 15,350 .00 16 Cheque # 123456 5,390 .00 9,960 .00 20 Deposit 7,150 .00 17,110 .00 31 Bank Fees 15 .00 17,095.00 CR


Integration INT-59

END OF PERIOD REPORTS• You will now print the following Reports:

• Aged Payables (Payables Ageing Summary)

• Aged Receivables (Receivables Ageing Summary)

• Accounts – Trial Balance, Profit & Loss and Balance Sheet

R4 Print a Payables Ageing Report Purchases > Reports > Payables

R7 Print a Receivables Ageing ReportSales > Reports > Receivables

R2 Print Any Report

Aged Payables31st August

Aged Receivables31st August

Reconciliation Report31st August


INT-92 Integration

PRINT REPORTS• You will now Print the following Reports: • Bank Reconciliation • Inventory Journal • Purchases Item Report • Sales Item Report

END OF PERIOD PROCESSING• You will now perform End of Period processing for October .

Reconciliation Report31st October

Inventory Journal1/10 To 31/10


Non-Current Assets NCA-�7

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close

SetSystemDate – 31stDecember2007

Change the System date while you are in AssetManager, i.e. don’t exit AssetManager.

ENTERTRANSACTIONS

A. Description/Data You will now enter:

1. A new Vendor, Davis Hydraulics;2. The Purchase of a new Hydraulic Jack on 31/12/07 to be used in the warehouse;3. The Sale of the company's Forklift and a Filing Cabinet for cash on 31/12/07.

S52 EnterHistoricalAcquisitions–AddAssets–AssetManager

NON-CURRENT ASSETS 2008 MYOB.ind27 27 12/03/2008 11:52:33 AM

Non-Current Assets NCA-�9

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OK

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close

T64 PurchaseNewAsset–AssetManager


NCA-34 Non-Current Assets

AssetListbyAssetID

PrintTaxReport


Non-Current Assets NCA-35

DepreciationJournals1/07to30/06

GraphsFrom the Command Centre you can view data in graph form – either PIE CHART or TIME LINE:

Select. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[Click]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Close

TrialBalanceReportforperiodending30/06


NCA-4� Non-Current Assets

PRINTREPORTS• Asset – Asset List by Asset Group • Journal – Asset Journals – Trial Balance • Tax – Depreciation Schedule

ENDOFPERIODPROCESSING

TrialBalanceReportforperiodending30thJune

R21 EndofPeriodReports–AssetManager

R20 EndofPeriod–AssetManager


Documents

MYOB ACCOUNTING - johnwiley.com.au 18e... · MYOB ACCOUNTING by C. J. CHEETHAM BComm, DipEd, CPA, FPNA J. D. RING BComm, DipEd, CPA John Wiley & Sons Australia, Ltd INTRO TO MYOB