Learn MYOB in 7 Days E-Book

Heather Smith

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 264

Veröffentlichungsjahr: 2012

Beschreibung

The step-by-step guide that takes the stress out of keeping your books with MYOB This small business guide covers all the essentials, from setting up an account through to confidently producing financial reports, and all that's in between. In 7 quick and easy steps this book arms you with the knowledge you need to navigate your way through MYOB and will free up your time to focus on your business. Packed full of tips, tricks and traps to avoid, this is essential reading for small business owners and bookkeepers wanting to quickly and easily learn MYOB.

Leseprobe

Learn MYOB in 7 Days

Table of Contents

Day 1: Accounts Command Centre and Card File Centre

Orientation

Menu bar

Drop-down options

Command Centre and flowcharts

Accounts Command Centre

Banking Command Centre

Sales Command Centre

Time Billing Command Centre

Purchases Command Centre

Payroll Command Centre

Inventory Command Centre

Card File Command Centre

Preferences

System

Windows

Reports and forms

Banking

Sales

Purchases

Inventory

Security

Tax codes

Exploring a tax code

Chart of accounts

Things to consider before reviewing accounts

Measure what’s important

Use plain English

Summarise

Streamline

Question how information is presented

Allow for growth

Exploring a general ledger account

Clearing accounts

Card File Command Centre

Setting up a typical Customer Card

Setting up Supplier Cards

Exiting MYOB

Day 2: Banking Command Centre

Introduction and overview

Cash versus accrual-based accounting

Cash versus accrual in relation to MYOB

Linked accounts

Bank Register and Transaction Journal

Creating a Spend Money entry

Creating a recurring transaction

Receiving money

Using the Undeposited Funds account and preparing a bank deposit

Preparing electronic payments

Printing cheques

Printing or emailing remittance advices

Bank reconciliation

How to do a bank reconciliation

Bank reconciliation: extra options

Resolving bank reconciliation issues

What is an audit trail, and why is it important?

Use the owner’s loan account to monitor the owner’s spending

Day 3: Sales Command Centre

Introduction and overview

Linked accounts

Types of sales

Sales layouts

Sales Register and Transaction Journal

Entering sales

Creating a Service Type sale

Creating a Professional Type sale

Receiving payments

Processing a bad debt

Reconciling sales

Invoice Statements and Activity Statements

Analysing receivables

Managing debtors in MYOB

Credit applications and terms of engagement

Pricing

Authorisation

Customising invoices

Timely invoices

Terms of payment

Following up on unpaid accounts

Day 4: Purchase Command Centre

Introduction and overview

Purchases Linked Accounts

Purchase types: Quote, Order, Bill, Receive Item

Purchase layouts: Service, Item, Professional, Miscellaneous

Purchase Register and Transaction Journal

Entering purchases

Paying bills

Preparing electronic payments

Printing cheques

Printing/emailing a remittance advice

Printing and emailing purchase orders

Purchases reconciliation

Analysing payables

Plan your expenditure

Assess the return on your investment

Comparison shop

Be accountable for your business spending

Think outside the box

Day 5: Inventory Command Centre

Introduction and overview

Periodic and perpetual inventory

Creating an Item

Inventory naming and numbering conventions

Item List

Entering an inventory purchase

Recording receipt of goods delivered

Entering an inventory sale

Setting item prices

Auto-Build items

Undertaking a stocktake

Adjusting inventory

Day 6: Payroll Command Centre

Introduction and overview

Payroll set-up

Payroll categories

Wages

Superannuation

Entitlements

Deductions

Expenses

Taxes

Payroll Linked Accounts

Setting up Employee Cards

Processing the payroll

Customising pay slips

Processing annual and personal leave

Review of Process Payroll

PAYG withholding

Paying superannuation liability

Day 7: The wrap

Introduction and overview

Using the Command Panel

To Do List

Find Transactions

Reports

Business Insights

Analysis

Setting up MYOB AccountRight software

Day-to-day use of MYOB AccountRight software

Company Data Auditor

BASlink

12 keys to staying in tiptop form

1 Ensure that your MYOB software is set up properly

2 Invest in adequate training

3 Ensure that all accounts are reconciled

4 Never post a transaction directly to a control account

5 Set up your linked accounts correctly and then don’t tamper with them

6 Restrict access to closed periods by utilising Locked Periods

7 Establish a useful and relevant Chart of Accounts

8 Enter transactions using the date on which they occurred

9 Ensure that your data file is backed up regularly

10 Secure your data file by setting up user passwords

11 Keep personal and business spending separate

12 Speak to the experts about tax issues

First published in 2012 by Wrightbooks

an imprint of John Wiley & Sons Australia, Ltd

42 McDougall St, Milton Qld 4064

Office also in Melbourne

Typeset in 11.5/14.3 Berkeley LT Book

© Heather Smith 2012

The moral rights of the author have been asserted.

National Library of Australia Cataloguing-in-Publication data:

Author: Smith, Heather (Heather Nicolette)

Title: Learn MYOB in 7 days: turbo boost your business / Heather Smith.

ISBN: 9780730375920 (pbk.)

Notes: Includes index.

Subjects: M.Y.O.B. (Computer program)

Accounting—Australia—Computer programs—Handbooks, manuals, etc.

Small business—Accounting—Computer programs—Handbooks, manuals, etc.

Dewey Number: 657.0285536

All rights reserved. Except as permitted under the Australian Copyright Act 1968 (for example, a fair dealing for the purposes of study, research, criticism or review), no part of this book may be reproduced, stored in a retrieval system, communicated or transmitted in any form or by any means without prior written permission. All inquiries should be made to the publisher at the address above.

Cover design by Xou Creative

Screen captures from MYOB reproduced with permission. Copyright © 2011 MYOB Technology Pty Ltd. MYOB® is a registered trademark of MYOB Technology Pty Ltd and its affiliates.

Printed in Australia by Ligare Book Printer

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Disclaimer

The material in this publication is of the nature of general comment only, and does not represent professional advice. It is not intended to provide specific guidance for particular circumstances and it should not be relied on as the basis for any decision to take action or not take action on any matter which it covers. Readers should obtain professional advice where appropriate, before making any such decision. To the maximum extent permitted by law, the author and publisher disclaim all responsibility and liability to any person, arising directly or indirectly from any person taking or not taking action based on the information in this publication.

About the author

Heather Smith has always had a particular interest in the workings of small business and is passionate about helping small business owners understand their numbers to enable them to maximise their productivity and profitability. She utilises remote technology to connect with the businesses computer and is able to provide education, training and support across Australia.

She writes for national online and printed publications, including The Daily Telegraph, Flying Solo (a website for ‘solopreneurs’), My Business (a website for business advice), ninemsn, Woman’s Day, Courier Mail,Latte and Network magazine.

She has a bachelor of commerce from Griffith University in Queensland and is a Chartered Accountant and a Fellow and an Ambassador of the Association of Chartered Certified Accountants (ACCA). Heather is an MYOB Certified Consultant, an MYOB Specialist Trainer, an MYOB Accredited Author and a XERO and SAASU consultant.

Heather is in demand on the speaking circuit, and her presentations on a range of small business topics never fail to excite and inspire her audiences.