AccountRight Premier, AccountRight Enterprise

AccountRight Premier, AccountRight Enterprise
User Guide
MYOB AccountRight Premier v19
MYOB AccountRight Enterprise v19
Serial number
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Writers
Suchitra Govindarajan, Naomi Hall, Merrin Hughes, Claire Mahoney, Rachael
Mullins, Kylie Nicholson, Steven Rao, Ronald Tierney, John Wilson.
2
MYOB Licence Agreement
IMPORTANT–READ THIS CAREFULLY BEFORE USE. This is the Software Licence
Agreement (Agreement). As you have purchased the Product (consisting of the User
Documentation and the installation CD or other media containing the Software),
following notification of the Licence you are now legally bound by its conditions.
HOWEVER, if the Licence Agreement contains anything of which you were not
aware prior to purchasing the Product or do not agree to be bound by, DO NOT
INSTALL THE SOFTWARE but return the Product to the reseller in its entirety and a
full refund of the purchase price will be made. By installing the Software and
keeping the Product you are confirming that you have purchased the Product
subject to this Licence and are bound by its provisions.
TRIAL VERSION SOFTWARE LIMITATION. If you use this Software on a trial basis
prior to purchase, then additional restrictions govern its use. The Trial Version is
intended to be used only for evaluation purposes and whilst you may create your
own company data files (“Company Files”) you will have access to your Company
Files only for a period of 90 days from the date of creation of each Company File.
Thereafter, you will be able to access the Company Files created by you only upon
your purchase of the full version of the Software product licence. Upon your
purchase of the full version of the Software product licence, the restrictions in this
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acknowledge that your use of the full version of the Software product licence will be
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accompanying the full version of the Software product licence.
1
Scope of Licence
MYOB Technology Pty Ltd (the Publisher), through its local publishers and
distribution agents, hereby grants to you, the original purchaser, a paid-up,
personal, non-exclusive and non-transferable Licence to use the Software and
the User Documentation only in the region, territory or country specified on
the packaging, or in Australia, subject to the terms and conditions of this
Agreement.
a Activation of Company Files You must register the Product and activate the
company files you create or upgrade with the Software. You are entitled to
activate up to five (5) new or upgraded company files. If required, you can
obtain additional activations by contacting MYOB Australia Pty Ltd.
i) New Company Files You may only access each new company file you
create for 90 days without activating it. After 90 days each new company
file will become read-only until you activate it.
ii) Upgraded Company Files You may only access each company file you
upgrade from Premier v7.5 (or earlier), Accounting v13.5 (or earlier),
Accounting Plus v13.5 (or earlier) or AccountEdge v3 (or earlier) for 30
days without activating the company file. After 30 days each upgraded
company file will become read-only until you activate it. Note that for
upgrading from Premier v8 (or later), Accounting v14 (or later),
Accounting Plus v14 (or later) and AccountEdge v4 (or later), your
company file needs to be confirmed, as usual.
b [Premier] Number of Users
If you have purchased:
i) a Single User Software Licence then you may use the Software on only one
computer that you own or operate at a single physical location in respect
of company files you have activated. You may transfer the Software from
one such computer to another that you own or operate provided that
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ii) a Multi-User Software Licence then you may use the Software on only one
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and only then in respect of company files created and activated by you
or by another licensed user. You may transfer the Software from one
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that you do not use or permit the usage of the Software on more than
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have not been activated or created by you, or by another licensed user.
c [Enterprise] Number of Users At any given time, you or your related entities
may only launch and simultaneously run the number of Software runtime
instances equivalent to or less than the number of Licences you have
purchased and open and simultaneously work with only the same number
of company files, which must be created and activated by you or your
related entities.
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multi-user Licences you have purchased.
f
Transfers You may not sub-license, lease, rent or lend the Software or the
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3
g Term The Licence granted in this Agreement is effective until terminated.
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2
Limited Warranty & Disclaimer
The Publisher warrants that the media on which the Software is recorded and
the User Documentation provided with it are free from defects in materials and
workmanship under normal use for a period of 90 days from the date of your
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3
Entire Agreement
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.
4
CONTENTS
Contents
1 Introduction ............................................................ 9
Learning about your AccountRight software............................. 9
Where to start........................................................................ 12
Explore your AccountRight software ...................................... 13
MYOB M-Powered Services .................................................... 18
Reconciling your bank accounts ............................................. 58
Importing statements ............................................................ 61
Recording miscellaneous transactions..................................... 62
Credit card transactions ......................................................... 62
Analysing your cash flow........................................................ 63
2 Setting up your company file ............................... 21
5 Sales ....................................................................... 65
Overview ............................................................................... 21
Create a company file ............................................................ 22
Activate the company file....................................................... 24
Set up accounts ..................................................................... 26
Enter account opening balances ............................................ 29
Set up preferences ................................................................. 31
Set up software management ................................................ 31
Set a password for the Administrator user ID.......................... 32
Creating a customer card....................................................... 65
Entering sales ......................................................................... 67
Recording sales with insufficient on-hand item quantities....... 71
Changing the status of a sale ................................................. 74
Reviewing your sales information ........................................... 75
Receiving payments ............................................................... 77
Printing payment receipts ...................................................... 79
Credit control ........................................................................ 80
Customer credits.................................................................... 83
Dealing with a supplier who is also a customer ...................... 86
Accounting for bad debts....................................................... 87
3 Advanced setup..................................................... 33
Overview ............................................................................... 33
Set up sales............................................................................ 35
Set up purchases.................................................................... 36
Set up payroll ........................................................................ 37
Set up electronic payments.................................................... 38
Do an initial bank reconciliation ............................................. 41
Create item records ............................................................... 44
Enter inventory opening balances .......................................... 45
6 Purchases ............................................................... 89
Creating a supplier card ......................................................... 89
Entering purchases................................................................. 91
Receiving items without a supplier bill ................................... 95
Creating a purchase order from a sale.................................... 98
Changing the status of a purchase ......................................... 99
Reviewing your purchases information ................................. 100
Paying bills........................................................................... 102
Recording and settling supplier debits.................................. 104
Adding finance charges paid to suppliers ............................. 107
4 Banking.................................................................. 47
Receiving money ................................................................... 47
Bank deposits......................................................................... 49
Spending money ................................................................... 50
Electronic payments............................................................... 53
Entering transactions in the Bank Register window................. 54
Transferring money between accounts................................... 56
Tracking petty cash expenses................................................. 57
5
7 Paying your employees ....................................... 109
11 Lists ...................................................................... 181
Creating payroll categories .................................................. 110
Creating employee cards ..................................................... 116
Entering employee payroll information ................................ 117
Timesheets........................................................................... 121
Processing your payroll ........................................................ 123
Payroll liabilities ................................................................... 132
Superannuation reporting.................................................... 133
Payroll tax reporting ............................................................ 135
Termination payments ......................................................... 136
Reviewing payroll information.............................................. 140
Adding a record ................................................................... 181
Setting up tax codes ............................................................ 182
Finding a record................................................................... 185
Changing a record ............................................................... 186
Inactivating or reactivating a record ..................................... 186
Deleting a record ................................................................. 187
Combining records .............................................................. 188
8 Billing for time .................................................... 143
Overview ............................................................................. 143
Setting time billing preferences............................................ 144
Setting billing rates .............................................................. 145
Creating activities ................................................................ 146
Creating activity slips ........................................................... 148
Changing and reviewing activity slips .................................. 151
Creating time billing invoices............................................... 152
Work in progress.................................................................. 154
9 Inventory ............................................................. 155
Creating items ..................................................................... 155
Making inventory adjustments ............................................. 158
Multiple inventory locations................................................. 159
Building items...................................................................... 161
Performing stocktakes.......................................................... 164
Reviewing your inventory information.................................. 165
Setting item prices ............................................................... 167
Customising inventory ......................................................... 168
10 International transactions................................... 171
Overview ............................................................................. 171
Setting up multiple currencies ............................................. 172
Exchange rates .................................................................... 175
Tracking currency gains and losses....................................... 176
Miscellaneous transactions ................................................... 178
6
12 Transactions......................................................... 191
Finding a transaction ........................................................... 191
Changing or deleting a transaction ...................................... 194
Reversing a transaction ........................................................ 196
Recurring transactions.......................................................... 197
13 Reports................................................................. 203
Producing reports ................................................................ 203
Printing report batches ........................................................ 205
Customising reports............................................................. 206
14 Forms ................................................................... 211
Finding forms....................................................................... 212
Sending forms ..................................................................... 213
Customising forms ............................................................... 216
Adding and editing elements ............................................... 219
15 Contact management.......................................... 223
Creating a card .................................................................... 223
Keeping in touch with your contacts.................................... 224
Grouping your contacts ....................................................... 229
Synchronising AccountRight cards with Microsoft Outlook
contacts............................................................................. 231
Customising cards................................................................ 237
Reviewing your contact information..................................... 239
16 Financial control .................................................. 241
Tracking financial information.............................................. 241
Budgets ............................................................................... 245
Reviewing financial information ........................................... 248
Auditing your records .......................................................... 251
17 End-of-period procedures ................................... 253
Month-end procedures ........................................................ 253
Starting a new financial year ................................................ 263
Starting a new payroll year .................................................. 267
18 Managing user accounts and company files ...... 275
Managing user accounts ...................................................... 275
Backing up and restoring company files ............................... 277
Confirming activated company files ..................................... 280
Servicing your company file ................................................. 282
Managing software updates................................................. 284
Special considerations for networked company files ............. 286
A Importing and exporting data ........................... 289
Exporting data ..................................................................... 289
Importing data .................................................................... 290
B Networking company files .................................. 293
Preparing company files for multiple users ........................... 293
Setting up the network hardware......................................... 294
Setting up a company file folder on a Windows host............ 294
Accessing the shared company file....................................... 297
Glossary .................................................................... 301
Index......................................................................... 309
7
8
Introduction
Before you begin, take some time to explore the software and find out about the basic features of navigation and transaction entry. This chapter
provides an overview of your software and describes the tools, resources and primary features of your AccountRight software.
The term AccountRight software refers to both MYOB AccountRight Premier and MYOB AccountRight Enterprise. Note that some features apply
only to AccountRight Enterprise, such as multiple inventory locations.
Learning about your AccountRight software
The ‘Setting up your company file’ chapter of the User Guide
steps you through creating and activating a new company file,
including setting up accounts, system preferences and entering
opening balances.
MYOB is committed to developing accounting software that is
easy to use. To that end, your software is accompanied by
comprehensive information resources to help you learn about
your software and to provide support as you set up your records
and enter transactions.
The User Guide is not intended to be exhaustive. It is
complemented by the Help Centre (see page 10), which covers
all the functions of your software.
Manuals
The User Guide is provided as a PDF on your AccountRight
software CD.
Getting Started guide The Getting Started guide provides
information on how to install and register your software and how
to obtain technical support. A printed version of this guide is
provided with your software.
Accounting 101 The Accounting 101 guide introduces you to
basic accounting terms and concepts. This guide is ideal for
people who are new to accounting or for people who want to
review basic accounting principles.
User Guide This User Guide introduces the principal features,
functions and capabilities of your software. It is designed to be
used as a reference for everyday transaction entry and periodic
tasks, such as issuing invoices, making payments and
end-of-period processing.
If you purchased AccountRight Premier, some of the features in
AccountRight Enterprise described in this guide—for example,
multiple locations in the Inventory chapter—will not be relevant
to you.
9
INTRODUCTION
1
To view the manuals
To display the Help Centre
You need a PDF viewer to view the manuals. You can access the
manuals from your installation CD. If you don’t have a PDF
viewer on your computer, you can install Adobe Reader from the
installation CD.
„
In any window, press the F1 key.
„
In any window—other than command centre windows—click
Help ( ) and choose Help for This Window.
„
Choose Search Help from the Help menu.
View the PDF files from the Installation CD
1
Insert the installation CD.
2
Open the CD in Windows Explorer—usually the D:\
drive—and double click the setup.exe icon. An installation
window appears.
3
Click Resources and then click CD Library.
4
Click the name of the manual you want to view
Help in AccountRight windows
Opening the Help Centre from any window—other than
command centre windows—displays descriptions or procedures
relevant to that window. Click Help ( ) and choose Help for
This Window, Tell Me How or Search Help.
Help Centre
The Help Centre is a comprehensive resource that describes all
functions and features of your software. It also includes window
descriptions, report samples and tips for helping solve common
problems.
The Help Centre is installed when you install your software,
however we recommend you use the online version of help if you
are usually connected to the Internet. The online version of help
is updated regularly between product releases and may contain
new help topics relevant to you.
These options are described below.
Select…
If you want to…
Help for This
Window
•
•
•
To use the online help version
10
1
Open your company file.
2
Go to the Setup menu and choose Preferences. The
Preferences window appears.
3
Select the I Prefer to Use Help From the Internet, Rather
than My Computer option and click OK.
see a description of the window, which
includes links to more detailed descriptive and
procedural topics.
see a description of each field in the window.
display links to topics that give you tips to
solving common problems or that direct you
to other sources of help.
Tell Me How
display a list of topics that tell you how to perform
various tasks in the window, or other related
tasks.
Search Help
search the help using keywords.
CHAPTER 1
INTRODUCTION
Help in command centres
The main windows in your software are known as command
centres. You can view help for a command centre by clicking the
help icon ( ) located in the top right corner of each command
centre.
Show Me How new feature
demonstration movies
Show Me How movies demonstrate how to use many of the new
features. Demonstrating movies run between one and four
minutes. Note that Internet access is required to view movies.
The movies in this release show you how to:
„
view a financial summary of your business using Business
Insights
„
perform tasks using the Actions menu
„
get a map of, and directions to, a contact’s address in Google
Maps
„
find relevant information in the Help Centre
„
manage AccountRight software updates.
To view Show Me How movies
The Help Centre displays a description of the command centre
and its various functions.
1
Go to the Help menu, choose What’s New in this Release
and then choose New Feature Movies. A list of available
movies appears in your browser.
2
Click the movie you want to view.
For more information, see ‘Command centres’ on page 13.
Services menu
Go to the Services menu to access a list of additional services
offered by MYOB to help you run your business. For example,
you can access the my.myob website, where you can register
your software, or you can look for an add-on solution to enhance
your software.
LEARNING ABOUT YOUR ACCOUNTRIGHT SOFTWARE
11
Where to start
When you start your software, a welcome window displays the
following options:
Option
Select this option to...
Open your company file
Open a company file once it has been
created.
Create new company file
Create a company file for your business.
See Chapter 2, ’Setting up your company
file,’ starting on page 21.
Explore the sample
company
Experiment with a sample company’s
data and learn how to use your software.
What’s New in this version
Learn about the new features in this
version of your software.
Exit
Close your AccountRight software.
Experiment with sample data
Before you create a new company file, we recommend that you
experiment with a sample company’s data. We have provided
two sample company files.
„
Clearwater Pty Ltd. This file contains sample data for you to
experiment with. You can add, change and remove data, as
well as view and print reports.
„
Tutorial. This file contains data for the online tutorial
designed to teach you how to use your software.
A command centre window always appears when a company file
is open. Notice that the name of the sample company,
Clearwater Pty Ltd, appears at the top left of the window.
Now that the Clearwater company file is open, you can browse
through the software, explore the transactions that have already
been entered and enter some transactions yourself.
To complete the tutorial
1
Open the tutorial company file.
a Start your AccountRight software and, in the welcome
window that appears, click Open your company file. The
Open window appears.
b Navigate to the Tutorial folder in your AccountRight
installation folder, select the tutorial.myo file and click
Open.
2
Open the tutorial guide.
a Go to the Start menu, choose Programs, choose your
accounting software folder and then select the tutorial PDF
file.
b Follow the steps in the tutorial. You can read the tutorial
on-screen or print it out.
To explore the Clearwater company file
™ Start your AccountRight software and, in the welcome
window that appears, click Explore the sample company. A
command centre window appears.
12
CHAPTER 1
INTRODUCTION
Explore your AccountRight software
You should become familiar with the following tools and aids:
Tool
See
Command centres
below
Actions menu
page 14
Calendar (date entry)
page 14
Business calendar
page 15
Calculator
page 15
Zoom arrows
page 15
Search icons
page 16
Select columns
page 16
Mouse shortcuts
page 16
Shortcut keys
page 16
Default screen font
page 17
Spell-check
page 18
Command centres
There are eight command centres in your software. The following
is an illustration of the Sales command centre.
Each command centre contains a row of icons in the top section
of the window. These icons allow you to switch between
command centres.
The selected icon represents the current command centre, and
the flowchart displayed below the icons illustrates the major tasks
associated with that command centre. (For example, when the
Sales icon is selected, tasks such as Enter Sales and Print/Email
Statements—typical tasks you would complete in relation to
sales—appear in the command centre’s flowchart.)
EXPLORE YOUR ACCOUNTRIGHT SOFTWARE
13
There are four menus at the bottom of each command centre.
The options available from these menus are described below.
Select...
If you want to...
To Do List
record and manage tasks that need your
attention, such as paying invoices to take
advantage of early-payment discounts, or
restocking items when inventory is low.
Find
Transactions
view summary information about your accounts,
sales, purchases, cards, items, payroll and jobs.
Reports
view a list of the available reports.
Analysis
analyse a number of key aspects of your business.
The following shows the tasks available if you select a customer
card and click Actions.
There are two ways of selecting an option:
„
Click the menu name to display the window relevant to the
command centre you are in.
„
Click the arrow ( ) next to the menu name and select from a
list of the available options for all command centres (not just
the command centre you are currently in).
Actions menu
The Actions menu provides shortcut access to a list of tasks. The
menu is located in the Cards List window, in each Card
Information window and in the Reconcile Accounts and
Unmatched Statement Transactions windows. Note that some
tasks, which were previously accessed using buttons in these
windows, are now accessible from the Actions menu.
When you click Actions (
) in one of these windows, a
menu of associated tasks is displayed. For example, if you select a
customer card in the Cards List window and click Actions, you
can print invoices, create a sale, or view reminder logs. If you click
Actions in the Reconcile Accounts window, you can import your
bank statement, transfer money, or record journal entries without
exiting the window to access these functions.
14
Calendar (date entry)
The calendar simplifies date entry. For example, suppose you’re
entering a sale and have promised the goods to the customer on
the last Friday of the month. Rather than figure out the date and
enter it manually, display the calendar in the Promised Date field
and click the date.
To display the calendar, put the cursor in a date field and press
either = (equals) or the SPACEBAR on your keyboard. Select a date
CHAPTER 1
INTRODUCTION
If your business is always open or closed on a specific day of
the week, click that day in the Shortcut for setting average
business week section. A message will confirm that you are
changing the day’s status.
by clicking it, or by using the arrow keys on your keyboard and
then pressing ENTER. The selected date appears in the date field.
The current date
appears in red. You
can use the arrow
keys next to
the month to select
a different month.
3
Add any important events that occur during the month in the
Important Dates section.
4
If you want to change other months in the business calendar,
click the arrows at the top of the calendar.
5
Click OK to close the business calendar.
To close the calendar without selecting a date, press ESC.
Calculator
Business calendar
You can use the business calendar to specify which days of the
week your business is open, as well as holidays and important
business events.
As well as being a handy reference, the business calendar affects
the Contact Alert function in the To Do List. If you set a reminder
to call a customer on a day that your business is indicated in the
business calendar as being closed, the reminder will appear in the
To Do List window on the business day before the task is due.
A calculator tool is available to simplify calculating and entering
numeric data, including money amounts, item quantities and
units. The calculator is available from every window where you
enter numeric data. Pressing = (equals) or the SPACEBAR when the
cursor is in a numeric data field displays the calculator. In the
calculator, enter your calculation and then press ENTER. The result
appears in the numeric data field.
For example, if a reminder is scheduled for Saturday but your
business is closed on Saturdays, the reminder will appear in the
To Do List window on Friday.
To set up your business calendar
1
Go to the Setup menu and choose Business Calendar. The
Business Calendar window appears.
The current month is displayed in the calendar at the top of
the window. Days that appear in grey are days when your
business is closed.
2
If you want to mark a specific day as closed, click the date in
the calendar.
EXPLORE YOUR ACCOUNTRIGHT SOFTWARE
To close the calculator without entering numeric data, press ESC.
Zoom arrows
Zoom arrows, displayed next to various fields, allow you to
display more detailed information about a specific entry such as a
transaction or customer record.
15
A white zoom arrow ( ) indicates that you can display more
detailed information about a transaction and make changes to or
delete the transaction.
A grey zoom arrow ( ) allows you to display more detailed
information about a transaction, but the information is read-only
(that is, it cannot be changed). If you want to change the
information, you can reverse the transaction and re-enter it (see
‘Reversing a transaction’ on page 196). Alternatively, you can
change your security preference selection to make all
transactions changeable (see ‘Set up preferences’ on page 31).
Shortcut keys
You can use shortcut keys to speed up data entry. All the shortcut
keys correspond to menu commands. Listed below are the
shortcuts relating to the menu commands.
Menu
Command
Shortcut keys
File
New (Company
File)
CTRL+N
Open
CTRL+O
Search icons
Search icons ( ) displayed next to various fields allow you to
open selection lists containing records that you have previously
entered, such as customers and shipping methods, or records
provided by default.
Edit
Close Window
ESC
Print
CTRL+P
Undo
CTRL+Z or
ALT+BACKSPACE
Cut
CTRL+X or
SHIFT+DELETE
Copy
CTRL+C or
CTRL+INSERT
Paste
CTRL+V or
SHIFT+INSERT
Select All
CTRL+A
Select from List
CTRL+L
Recap Transaction
CTRL+R
To Do List
CTRL+T
Find Transactions
CTRL+Y
Command Centre
CTRL+1
Record Journal Entry
CTRL+G
Bank Register
CTRL+K
Command Centre
CTRL+2
Select columns
Select columns allow you to select items from a list. Select
columns are indicated by a select icon ( ) located at the top of
the list column. You select a required item by clicking in the select
column next to it. You can select all listed items by clicking the
select icon at the top of the list column, and clear all selected
items by clicking the select icon again.
Command Centres
(All)
Mouse shortcuts
You can right-click in a window to open a shortcut menu with
options relevant to the window and to the location of the pointer.
Command Centres
> Accounts
Command Centres
> Banking
16
CHAPTER 1
INTRODUCTION
Menu
Command
Shortcut keys
Spend Money
CTRL+H
Receive Money
CTRL+D
Command Centre
CTRL+3
Enter Invoices
CTRL+J
Receive Payments
CTRL+B
Command Centres
> Time Billing
Command Centre
CTRL+4
Command Centres
> Purchases
Command Centre
CTRL+5
Enter Purchases
CTRL+E
Pay Bills
CTRL+ M
Command Centres
> Payroll
Command Centre
Command Centres
> Inventory
Command Centres
> Card File
Command Centres
> Sales
Default screen font
If you want, you can change the fonts used in your AccountRight
software’s interface.
CAUTION : Screen resolution and typeface compatibility Ensure
the new font size is appropriate to your monitor’s resolution. Some
typefaces and sizes may cause windows to be displayed incorrectly.
Note that if you work in a multiuser environment and change the
font, the changes affect only your computer, not other users on
your network.
To change the default screen font
1
Go to the File menu and choose Default Fonts. The Default
Font Selection window appears.
CTRL+6
2
Click Windows. The Change Default Windows Font
window appears.
Command Centre
CTRL+7
3
Select the default typeface you want to use from the Font list.
4
Select the default font size you want to use from the Size list.
Command Centre
CTRL+8
5
Click OK. The Default Font Selection window appears.
Cards List
CTRL+F
6
Click OK.
Reports
Index to Reports
CTRL+I
Window
Refresh All
F5
Help
AccountRight Help
F1
Any changes you make will take effect after closing and
restarting your software.
We also support the following shortcut key combinations:
Close Window
CTRL+F4
Next Window
CTRL+F6 or CTRL+TAB
Cycle Task
ALT+TAB or ALT+ESC
EXPLORE YOUR ACCOUNTRIGHT SOFTWARE
17
Spell-check
When entering sale, purchase or item information, you can check
your spelling in the following fields:
You can also customise your spelling preferences. For example,
you can change the main dictionary language and choose a
preference to ignore words that include numbers.
To set spelling preferences
Window
Field
Sales
•
•
Description (for Service, Professional, Item
and Miscellaneous layouts)
Notes (for Time Billing layout).
Purchase
•
Description (all layouts).
Item Information
•
•
Name (Item Profile tab)
Description (Item Details tab).
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
Click the Windows tab.
3
If you want to automatically check spelling select the
Automatically Check Spelling in Text Fields Before
Recording Transactions option.
4
If you want to customise your spelling preferences, click the
Spelling button. The Spell Check Preferences window
opens.
5
Select your preferences and click OK.
You can choose to set a preference to automatically check
spelling or manually check spelling.
When you check the spelling in a field, the Spelling window
appears.
For more information about the spelling feature, see the Help
Centre.
MYOB M-Powered Services
M-Powered Services are subscription-based services that allow
you to replace paper-based methods of making and receiving
payments, and managing your funds, with efficient
networked-based methods. Each of these services complements,
and is accessed from within, your AccountRight software. You
can find out more details at myob.com.au/m-powered or by
calling 1300 555 111.
For more information about each M-Powered service, go to the
Services menu and choose ‘Learn about MYOB M-Powered
Services’. Click an M-Powered topic to find out more.
18
MYOB M-Powered Invoices Generate invoices and
statements from your AccountRight software that offer your
customers an extended range of payment methods, such as BPAY
(an electronic payment service), Credit Card by Phone (an
automated telephone credit card payment system personalised
for your business) and POSTbillpay in person (for payment at any
Australia Post outlet). Customer payments can then be
downloaded to your AccountRight software and automatically
matched against your invoices.
CHAPTER 1
INTRODUCTION
MYOB M-Powered Payments Pay your employees and
suppliers electronically from your AccountRight software. In
addition, remittance advices can be automatically sent to
suppliers by fax or by email.
For the latest list of participating banks providing banking
information through this service, please visit
myob.com.au/m-powered
MYOB M-POWERED SERVICES
MYOB Bank Statements Automatically receive bank
statement information, such as account balance and transaction
details, and then automatically reconcile the bank account with
the transactions in your AccountRight software.
MYOB M-Powered Superannuation Enable authorised users
to electronically pay each employee’s superannuation fund from
your AccountRight software. The service also notifies each
superannuation fund when a payment is made.
19
20
CHAPTER 1
INTRODUCTION
Setting up your company file
Your software stores your financial data in a company file. If you don’t already have a company file, you must create it before you can begin
recording transactions.
Overview
When you create a company file, you record basic information
about your business, such as the business name and your contact
details. You must also specify the month and financial year in
which you want to start recording transactions.
Task
Depending on the features you want to use, there are some tasks
that you should complete. This chapter guides you through the
essential ones.
Essential tasks The tasks you need to do depend on whether
your accountant has created and set up a company file for you,
the information you currently have and when your business
started.
Advanced tasks Once you have completed the essential tasks,
you can start recording transactions. However, if you need to use
the advanced features of this software (such as the sales or
inventory features), you will need to do further setup tasks. These
tasks are covered in the Chapter 3, ’Advanced setup,’ starting on
page 33.
21
See
1
Create a company file
page 22
2
Activate the company file
page 24
3
Set up accounts
page 26
4
Enter account opening balances
page 29
5
Set up preferences
page 31
6
Set a password for the Administrator user ID
page 32
SETTING UP YOUR COMPANY FILE
2
Create a company file
When you make entries in your software, that information is
stored in a file called a company file.
You need to
know…
You can create a company file using the New Company File
Assistant. This assistant is a series of interactive windows that
guide you through the process of creating a new company file.
Do you already have a company file? If your accountant
or MYOB consultant has provided you with a company file, or if you
want to use a file that you created with a test drive version of this
software, you don’t need to create a company file.
The number of
accounting
periods in your
financial year
You can choose to have 12 or 13 accounting
periods. A 13th period is a period for recording
entries which you do not want included in the
accounting figures for a particular month. For
example, you can use it to record year-end
adjustments that are attributed to all months. If in
doubt, choose 13 periods.
The default list
of accounts
that you want
to start with
Accounts are the categories that you will allocate
each of your transactions to. When you create a
company file, you need to select a default list of
accounts. You can:
• start with an accounts list provided in the
software. You can select a predefined accounts
list suitable for your business.
• import a list of accounts. You can import an
accounts list from another company file or from
one that has been provided by your accountant
or MYOB Certified Consultant.
• build your own list. You can start with an
accounts list that has the minimum accounts
required by your software and then add to it.
Note that you can modify your accounts list after
creating your company file.
NOTE :
Before you start:
You need to
know…
22
Description
Your current
financial year
This is the financial year for which you want to start
recording transactions in your company file.
Note that a financial year is represented by the
calendar year in which the financial year ends. For
example, if your financial year ends in June 2009,
your financial year is 2009.
The last month
of your
financial year
This is the month in which your financial year ends.
For most businesses the last month is June.
Your
conversion
month
This is the earliest month for which you want to
record transactions. For example, if you want to
enter transactions dated 1 September or later, your
conversion month is September.
You cannot enter transactions dated before the
conversion month.
Description
To create a new company file
1
Start your AccountRight software. A welcome window
appears.
2
Click Create new company file. The introduction page of
New Company File Assistant appears.
3
Click Next. The Company Information page appears.
CHAPTER 2
SETTING UP YOUR COMPANY FILE
4
Enter your business contact and registration details. If
available, also enter your software serial number.
5
Click Next. The Accounting Information page appears.
6
Enter your financial year details and conversion month.
Current financial year Remember that this is the
financial year for which you want to start recording transactions
in your company file. It does not need to be the financial year
that your business is currently operating in.
TIP :
7
Click Next. A confirmation page appears.
8
Check the financial year and conversion month and then click
Next. The Accounts List page appears.
9
Select the default accounts list you want to start with.
If you choose to...
Continue with...
start with an accounts list provided in the software
step 10
import a list of accounts
step 12
build your own list
step 12
10
Click Next. An accounts list selection page appears.
11
Select the type of industry and business that best matches
your own business.
A suitable accounts list for the business type you selected
appears. If you want to print the list, click Print. Later you can
tailor the list to meet the needs of your business.
CREATE A COMPANY FILE
23
12
Click Next. The Company File page appears.
d Click Save. The Conclusion page appears.
13
If you want to change you company file name and location:
a Click Change. The New window appears.
e Continue with step 15, below.
Restricted access to the Program Files folder in
Windows Vista User Account Control (UAC) is a security
feature in Windows Vista. If UAC is active, files saved in the
Program Files folder can only be opened by the Windows user
who saved the files. If other users need to access your company
file, do not save it in this folder. For more information about
User Account Control, see Windows help.
NOTE :
[AccountRight Enterprise users] Sharing a company
file on a network If multiple users will be accessing the
company file simultaneously, you can save the new company
file to a shared public folder on the host computer so that it’s
accessible to everyone in the network. For instructions on
how to share a company file on a network, see ‘Networking
company files’ in your user guide or the Help Centre.
NOTE :
14
Click Next. Your company file is created and the Conclusion
page appears.
15
Click Command Centre to display the Command Centre
window.
b Select the required location.
c If necessary, type a new file name.
Activate the company file
Activation is a process that verifies you have a legal installation of
your AccountRight software. You can activate your company file
online or over the phone via an automated service.
Do you need to complete this task? You don’t need to
activate a company file that you have created for testing purposes or
any file you are no longer entering transactions into.
After activating a file, you must confirm the company file once or
twice a year, that is, extend its activation throughout its working
life. For more information, see ‘Confirming activated company
files’ on page 280.
NOTE :
After creating a company file, you can use it for 90 days in trial
mode, after which you must activate the file if you want to
continue entering transactions into it.
If you don’t activate the file within 90 days, it will become
read-only, which means you can open, view, print and export
information, but you will not be able to enter new information
into the file until you activate it.
24
NOTE : Automatic confirmation If you want, you can set a
preference to automatically confirm an activated company file over
the Internet when required.
Activation limits You can initially activate up to five company
files. If you need to create more than five company files (for
example, yours is a bookkeeping business looking after many
clients), you can obtain licence extensions to activate as many
additional company files as required. Contact Customer Service if
you need a licence extension. Each additional licence extension
allows you to activate a further five files.
CHAPTER 2
SETTING UP YOUR COMPANY FILE
Activating after purchasing additional workstation
licences When you purchase your software, the licence allows
multiple users to access a company file simultaneously. The
number of licences issued depends on the software you are
using. If you need to extend your licence to support additional
users, you must activate your company file for these additional
licences. See also ‘Managing user accounts’ on page 275.
The Company File Activation window appears.
Before you begin
Before you can activate a company file, you need to:
„
know your product serial number. If you didn’t enter your
serial number when creating the company file, you will need
to enter it during the activation process. You can find your
serial number on the software CD sleeve.
„
register your software. Registration enables MYOB to
contact you should there be any issues with your software.
See the Getting Started guide for information on how to
register your software.
To activate a company file
1
2
Click I use this company file to record or edit my business
transactions, then choose an activation option:
Method
Steps
Activate
Online
1
Ensure you are connected to the Internet.
2
Choose Activate online and then click Continue.
The Company File Activation – Online window
appears.
3
If you have not previously entered your serial
number, type it in the Serial Number field and
press TAB. The code in the Company File Code
field is generated automatically.
4
Click Continue to activate the file.
Open the company file to be activated and sign on.
ACTIVATE THE COMPANY FILE
25
Method
Steps
Activate
by
Phone
1
Choose Activate by phone and then click
Continue. The Company File Activation – By
Phone window appears.
2
If you have not previously entered your serial
number, type it in the Serial Number field and
press TAB. The code in the Company File Code
field is generated automatically.
3
Call MYOB on the telephone number displayed
under the Company File Code field and follow the
instructions to receive your confirmation code.
4
Type the confirmation code in the Confirmation
Code field and click Continue.
3
Follow the on-screen instructions until the Command Centre
window appears.
4
If you want to activate another company file:
a Go to the File menu and choose Open. The Open window
appears.
b Open the company file to be activated and sign on to the
file.
c Continue from step 2 on page 25.
Note that you cannot use this code to activate
another company file nor can you use this code to
confirm an activated company file.
Set up accounts
Accounts provide a means for grouping similar transactions. For
example, if your business pays rent for the use of its premises, you
would create a rent account and then allocate all rent payments
to that account.
The accounts you use for your business are grouped in an
accounts list.
Do you need to complete this task? If your accountant or
MYOB Certified Consultant has provided you with a company file,
this task may have been completed for you. In this case, go to ‘Enter
account opening balances’ on page 29.
NOTE :
When you created your company file, you selected a default
accounts list to start with. This list may already have the accounts
you need. If not, you can change the list to suit your needs. If you
are unsure, ask your accountant which accounts you should
create, edit or delete.
26
If you selected to import a list of accounts, you should import this
list now. See ‘Importing data’ on page 290.
Account numbers Each account is identified by a unique five
digit number. The first digit indicates the account’s classification
(for example, accounts starting with 1 are asset accounts). The
remaining four digits determine its location within the
classification. The lower the number, the higher up in the list it
appears. For example, account 1-1100 appears above 1-1200.
Account classifications and types The accounts list groups
accounts into eight classifications—Assets, Liabilities, Equity,
Income, Cost of Sales, Expenses, Other Income and Other
Expenses. Within each account classification there is at least one
account type.
Account classifications and types are described in the following
table.
CHAPTER 2
SETTING UP YOUR COMPANY FILE
Classification
Type
Description
Classification
Type
Description
Asset
(1-xxxx)
Bank
Money in the bank, for example, in a
cheque or savings account.
Expense
(6-xxxx)
Expense
Accounts
Receivable
Money owed to you by your
customers.
The day-to-day expenses of running
your business, for example, utility
bills, employee wages and cleaning.
Other Income
Other Current
Asset
Assets that, if required, can be
turned into cash within a year. These
may include your term deposits.
Other Income
(8-xxxx)
Other revenues, for example,
interest earned on savings and
dividends paid from shares.
Other
Expense
(9-xxxx)
Other Expense
Other expenses, for example,
interest charged.
Fixed Asset
Liability
(2-xxxx)
Equity
(3-xxxx)
Assets which have a long life, for
example, buildings, cars and
computers. Fixed assets are usually
depreciated.
Header and detail accounts Your accounts list consists of
detail accounts (the accounts to which you allocate transactions)
and header accounts. Header accounts group related detail
accounts to help you organise your accounts list.
Other Asset
Other assets you own such as loans
made to others and goodwill.
Credit Card
Repayments required to service
credit card debt.
Accounts
Payable
Money owed by you to your
suppliers.
For example, you could group your telephone, electricity and gas
expense accounts using a Utilities header account. This makes it
easier for you to locate the utility expense accounts in the
accounts list and to see your combined utility expenses.
Other Current
Liability
Money owed by you that is due in
less than a year, for example, GST.
You group accounts by indenting the detail accounts located
directly below a header account.
Long Term
Liability
Money owed by you that is due in
more than one year, for example, a
business loan.
Other Liability
Other money you owe.
Equity
The business’s net worth, that is, its
assets minus its liabilities. Common
equity accounts are current year
earnings, retained earnings and
shareholders’ equity.
Header accounts
Detail accounts
Note that:
„
You cannot allocate transactions to a header account.
Income
(4-xxxx)
Income
Revenue from the sale of goods and
services.
„
The balance of a header account is the sum of the detail
accounts indented directly below it.
Cost of Sales
(5-xxxx)
Cost of Sales
The direct cost of selling your goods
and providing services, for example,
purchase costs and freight charges.
„
You can create up to three header account levels as shown in
the example above.
SET UP ACCOUNTS
27
Setting up accounts
If you want to...
See
Create an account
below
Group detail accounts with a header account
page 29
Change the details of an account
page 186
Delete an account
page 187
Import an accounts list
page 290
5
Enter a four-digit number for the account in the Account
Number field. The number must be unique within each
account classification.
6
Press TAB and type a name for the account.
7
Click the Details tab.
8
If you want, type a brief description of the account in the
Description field.
9
In the Tax Code field, select the tax code that you use most
often with transactions that will be posted to this account.
10
If you are creating an asset, liability or equity account (other
than an asset with the account type of Bank), select an option
from the Classification for Statement of Cash Flows list.
To create an account
28
1
Go to the Accounts command centre and click Accounts
List. The Accounts List window appears.
2
Click New. The Edit Accounts window appears.
3
If you want to create a header account, select the Header
Account option.
4
Select the account type from the Account Type list. The
Account Classification field changes according to the
selection you make. For more information on account
classifications, see ‘Set up accounts’ on page 26.
Classifying the accounts allows you to generate a statement
of cash flows. This report shows how your cash position has
changed over time, profit earned and where your cash was
spent. If you’re unsure about which classification to use,
consult your accountant or an MYOB Certified Consultant.
11
If you are creating a bank or credit card account, and you
want to keep a record of your bank account details, click the
Banking tab and enter your account details.
CHAPTER 2
SETTING UP YOUR COMPANY FILE
12
13
[Detail accounts only] If you want to enter historical balances,
complete the Last FY column on the History tab. That way
you can compare the year’s monthly account balances with
those of the corresponding months last year.
To group detail accounts with a header account
[Detail accounts only] If you want to set up a budget:
a Click Budgets. The Prepare Budgets window appears.
b Type the budget amounts in the monthly columns.
c Click Close.
1
Go to the Accounts command centre and click Accounts List.
The Accounts List window appears.
2
Select the detail account you want to group.
3
Click the Down button at the bottom of the window to group
the account with the header located above it.
You group accounts by indenting the accounts located below a
header account.
For more information, see ‘Budgets’ on page 245.
14
Click OK when you have finished. The account now appears
in your accounts list.
Enter account opening balances
Account opening balances are the balances of your accounts as at
the first day of your conversion month.
Do you need to complete this task? If you were in
business prior to your conversion month, most of your accounts
probably already have balances. If you want to produce financial
reports that included these balances (such as a balance sheet), or
you want to track the balance of accounts with a cumulative balance
(such as your bank account), you need to enter these balances.
NOTE :
You can find your account opening balances on a trial balance
report, a balance sheet or a profit & loss report prepared for the
period immediately prior to your conversion date. You can ask
your accountant to prepare these reports.
The balances you enter depend on whether your conversion
month is also the first month of your financial year. If your
conversion month:
„
is the first month of your financial year, enter the opening
balances of your asset, liability and equity accounts only. The
opening balances of your income, cost of sales and expense
accounts should be zero.
„
is not the first month of your financial year (for example, if
your financial year starts in July but your conversion month is
September), enter the opening balances of all your accounts.
You may also be able to find your account opening balances
using your previous accounting software or paper-based records.
ENTER ACCOUNT OPENING BALANCES
29
Opening bank account balances You can enter the following
amounts as the opening balance of a bank account:
„
the bank account balance that appears on your balance sheet
or trial balance reports as at the day prior to your conversion
date. For example, if your conversion date is 1 July 2009, this
is the bank account balance as at 30 June 2009.
These reports can be provided by your accountant, or, if you
were previously using another accounting software, printed
using that software.
„
the cashbook balance of the account as at the end of the day
prior to your conversion date. You can calculate your
cashbook balance by taking into account the transactions not
yet cleared by your bank as at the conversion date and the
balance that appears on your bank statement at that date.
3
For example, assume that $500 worth of deposits and $1000
worth of payments were uncleared as at your conversion date
(that is, they had not appeared on a bank statement). The
cashbook balance would be calculated as shown below:
Bank statement balance as at the conversion date
$21,000.00
ADD uncleared deposits
+ $500.00
SUBTRACT uncleared payments
– $1,000.00
Cashbook balance as at the conversion date
$20,500.00
Check that the amount in the Amount left to be allocated
field at the bottom of the window shows $0.00.
If this field displays an amount other than $0.00, check your
opening balances again because they are either incomplete
or incorrect. However, you can continue the setup process if
there is an amount in the Amount left to be allocated field.
The amount will be assigned to a special equity account
called Historical Balancing.
4
Click OK.
To enter opening balances
1
Go to the Setup menu, choose Balances and then Account
Opening Balances. The Account Opening Balances
window appears.
2
Enter the balances in the Opening Balance column.
NOTE : Enter opening balances as positive numbers Don’t,
for example, enter your liability account balances as negative
numbers. Enter negative amounts only if accounts truly have
negative balances. As a rule, these will be asset accounts that
record accumulated depreciation.
30
CHAPTER 2
SETTING UP YOUR COMPANY FILE
Set up preferences
Preferences are settings that enable you to tailor your software to
your business requirements and processes.
„
Use Audit Trail Tracking If you want to keep a record of
transactional, payroll, tax, account and system changes,
select this option. This is useful if more than one person will
be entering transactions into your file. For more information
about audit trail tracking, see ‘Auditing your records’ on
page 251.
„
Transactions CAN’T be Changed; They Must be
Reversed If you don’t want to allow users to edit or delete
transactions, select this option. If they want to change or
delete a transaction, they will need to do so by recording a
reversal transaction. For more information, see ‘Reversing a
transaction’ on page 196.
Do you need to complete this task? While you can
complete this step later, you should review the default preferences
that have been set before you start entering transactions.
NOTE :
You can set preferences to customise the way your software
operates. For example, you can choose to automatically print
invoices after recording them, or prevent users from editing
transactions.
You can set up your preferences using the:
„
Customise Easy Setup Assistant. This assistant guides you
through setting up some key preferences. To access the
assistant, go to the Setup menu, choose Easy Setup
Assistant and then click Customise.
„
I Deal in Multiple Currencies If you want to enable
multi-currency accounting, select this option. For more
information about working with multiple currencies, see
‘International transactions’ on page 171.
„
Preferences window. This window lists all of the preferences.
To view this window, go to the Setup menu and choose
Preferences.
„
Register for updates If you want to be automatically
alerted about new versions of your software, go to the Help
menu, choose Updates and then Register for updates. Enter
your software serial number and click Register for Updates.
Some preferences you should consider choosing include:
Set up software management
Software Manager is a web-based tool that notifies you that your
software has been updated, and enables you to install the update
from the web.
For more information about how to set up and use Software
Manager, see ‘Managing software updates’ on page 284.
Note that you may have already set up this feature when you
installed your software.
SET UP PREFERENCES
31
Set a password for the Administrator user ID
When you created your company file, a user ID called
Administrator was automatically created.
4
In the Change Password window, leave the Existing
Password field blank, type the password in both the New
Password and Confirm Password fields.
5
Click Record.
A user ID enables you to:
„
control access to a company file
„
track a transaction record history
„
save individual preferences.
By default, the Administrator user ID does not have a password
assigned to it. Anyone who signs on with the Administrator user
ID will have access to all command centres, functions and
windows and will be able to create, edit and delete other user
IDs.
For that reason, as soon as you create a company file, you should
assign a password to the Administrator user ID; otherwise,
anyone can sign on and then enter, edit and delete transactions.
To set a password for the Administrator user ID
32
1
Start your AccountRight software and, in the welcome
window, click Open your company file.
2
In the Open window, select the company file to be opened,
and click Open. The Sign-on window appears.
3
Click Change Password.
NOTE : Access restrictions If you want to restrict other users from
accessing certain features or information, you can create additional
user IDs and specify their access restrictions. For more information,
see ‘Managing user accounts’ on page 275.
CHAPTER 2
SETTING UP YOUR COMPANY FILE
Advanced setup
When you have created a company file and completed the essential set up tasks (see Chapter 2, Setting up your company file, on page 21), you
can start recording transactions in your company file. However, if you want to use the advanced features of your software (such as tracking
amounts you owe or the quantity of items sold), you need to complete additional setup tasks. This chapter details the additional tasks.
Overview
The setup tasks you need to complete depend on the features
you want to use and whether your business was operating prior
to your conversion month.
Your needs
Setup required
Intermediate
If you want to track the money that you owe suppliers
or that are owed by customers, you will need to use
the Purchases and Sales command centres.
Before you can use these command centres, you need
to complete the sales and purchases setup tasks in this
chapter.
Advanced
If you want to track the on-hand quantity and value of
items you buy and sell, you need to create records to
store the details of your items. You do this using the
Inventory command centre.
Also, when you buy and sell an item, you will need to
record details about each transaction (such as who
you purchased the items from, how many you
purchased and the price). You do this using the Sales
and Purchases command centres. Hence, you need to
complete the sales and purchases setup tasks in this
chapter.
What features do you want to use?
The following table provides some examples of different setup
requirements.
Your needs
Setup required
Basic
If you only want to use your software to fulfil basic
accounting requirements (such as report tax payable
or produce a year-end balance sheet), you may only
need to do an initial bank reconciliation for each of
your bank accounts. Reconciling accounts helps
ensure the integrity of the information you record in
your company file (see ‘Do an initial bank
reconciliation’ on page 41).
33
ADVANCED SETUP
3
When did your business start operating?
Task
The setup tasks you need to complete will also depend on
whether your business was operating prior to your conversion
month.
The following table describes the setup required for new and
existing businesses.
Business
status
See
3
Set up payroll
page 37
4
Set up electronic payments
page 38
5
Do an initial bank reconciliation
page 41
6
Create item records
page 44
7
Enter inventory opening balances
page 45
Setup required
New
If you have just started your business, you may have very
little information about your future customers, suppliers,
employees and items that you buy or sell. You can add
these details later when you have more information.
However, if you intend using the advanced features of
your software (such as recording invoices or tracking
departmental profit), you should read through the setup
tasks to see which features you might use and the tasks
you need to complete to start using them.
Existing
If your business was operating prior to your conversion
month, it is likely that transactions that occurred prior to
your conversion month still affect your business. For
example, a customer may owe you money for sales you
made prior to your conversion month, or you may have
outstanding bills to pay.
You will need to enter these historical details in your
company file.
Advanced tasks
You may not need to do every task. An introduction to each task
helps you determine whether you need to do the task and, if so,
the information you need.
Task
34
See
1
Set up sales
page 35
2
Set up purchases
page 36
CHAPTER 3
ADVANCED SETUP
Set up sales
You can use the sales features to:
„
prepare sales quotes, orders and invoices
„
generate statements
„
view customer sales history
„
see how much your customers owe you.
Do you need to do this task? If you want to record sales
and print invoices or statements, you need to set up the sales
features.
NOTE :
Before you start using the sales features, you should use the Sales
Easy Setup Assistant to enter the following information:
„
Credit terms and credit limits Enter the credit terms and
credit limits you generally extend to your customers.
„
Customer details Create a record for each of your
customers and enter such details as their addresses and
phone numbers.
„
Historical sales [Existing businesses only] If customers
owed you money on the first day of your conversion month,
you will need to record some details about the corresponding
sales, such as the invoice date and the amount that is
outstanding.
To access the assistant, go to the Setup menu, choose Easy
Setup Assistant, and then click Sales.
Optional sales setup tasks
In addition to the Sales Easy Setup Assistant tasks, you may also
want to do the following tasks if they are relevant to your
business.
Task
See
Customise forms
Change the appearance of the
default invoice and statement
forms.
page 216
Import cards
Import customer information from:
• another AccountRight
company file
• another accounting system
• a spreadsheet
• a text file.
page 290
Synchronise
customer records
with Outlook
Synchronise your customer records
with your contact records in
Microsoft Outlook.
page 231
Create job
records
Create job records to track the
progress and profitability of the
work you do for your clients.
page 243
Group cards
Use identifiers and custom lists to
group the cards of customers who
have similar attributes.
page 229
You can also use the Sales Easy Setup Assistant to specify your
preferred invoice layout, the income account you will allocate
most of your sales to, and several other settings. These settings
will automatically be selected for records you create for your
customers; however, you can change them as required.
SET UP SALES
35
Set up purchases
You can use the purchases features to:
„
record quotes, orders and bills
„
view your purchase history
„
see what you owe your suppliers.
Do you need to do this task? If you want to record the
orders and purchases you make with suppliers and track the
amounts you owe, you need to set up the purchases features.
NOTE :
Before you start using the purchases features, you should use the
Purchases Easy Setup Assistant to enter the following
information:
„
Supplier details Create a card record for each of your
suppliers and enter such details as their addresses and phone
numbers.
„
Historical purchases [Existing businesses only] If you had
outstanding bills on the first day of your conversion month,
you will need to record some details about them, such as
outstanding bill amounts and the credit terms.
To access the Purchases Easy Setup Assistant, go to the Setup
menu, choose Easy Setup Assistant and then click Purchases.
Optional purchases setup tasks
In addition to the Purchases Easy Setup Assistant tasks, you
may also want to do the following tasks if they are relevant to
your business.
Task
See
Customise
forms
Change the appearance of the
default purchase orders and other
forms.
page 216
Import cards
Import supplier information from:
• another AccountRight company
file
• another accounting system
• a spreadsheet
• a text file.
page 290
Synchronise
supplier records
with Outlook
Synchronise your supplier card
records with your contact records
in Microsoft Outlook.
page 231
Group cards
Use identifiers and custom lists to
group the cards of suppliers who
have similar attributes.
page 229
You can also use the Purchases Easy Setup Assistant to choose
the payment method you normally use to pay bills, your
preferred purchase order layout and several other settings that
will help you record purchases faster. These settings will
automatically apply to cards you create for your suppliers;
however, you can change them as required.
36
CHAPTER 3
ADVANCED SETUP
Set up payroll
You use the payroll feature to:
„
process pays for your employees
„
calculate superannuation amounts and make superannuation
payments
„
track employee entitlements (such as sick and holiday leave)
„
pay accrued payroll liabilities
„
print pay slips and paycheques
„
print payment summaries.
Do you need to do this task? If you want to process
employee pays, track amounts you owe to the ATO and print
payment summaries, you need to set up the payroll features.
NOTE :
Before you start using the payroll features, you need to:
„
Load tax tables PAYG withholding taxes are amounts that
are calculated and deducted from employee pays according
to the rules established by the Australian Taxation Office
(ATO). In your software, these calculation rules are stored in a
tax table file that you need to load into your company file.
NOTE : Receive alerts for tax table updates and software
updates You can register to be alerted about updates to your
tax tables, as well as compliance updates and new versions of
your software. For more information, see ‘Managing software
updates’ on page 284.
SET UP PAYROLL
„
Enter general payroll information Enter the current
payroll year, number of hours in your normal working week,
your Withholding Payer Number (if you have one) and the
default superannuation fund for your employees.
„
Review payroll categories The components of an
employee’s pay, such as wages, entitlements and taxes, are
called payroll categories. These are assigned to an employee’s
card to calculate their standard pay.
Review the details of each payroll category to make sure it
matches the way you do business.
„
Enter employee details Create a card record for each of
your employees and enter such details as their addresses and
payroll information.
„
Enter pay history [Existing businesses only] If you have
already paid the employee in the current payroll year, you
should enter the amounts you have paid your employees.
These amounts appear on payment summaries and reports
not derived from payroll activity (such as register reports).
They are not recorded as transactions in your accounts.
You can use the Payroll Easy Setup Assistant to do these tasks.
To access the Payroll Easy Setup Assistant, go to the Setup
menu, choose Easy Setup Assistant and then click Payroll.
For more information on creating payroll categories and entering
employee payroll information, see ‘Creating payroll categories’
on page 110 and ‘Entering employee payroll information’ on
page 117.
37
Optional payroll setup tasks
Task
In addition to the Payroll Easy Setup Assistant tasks, you may
also want to do the following tasks if they are relevant to your
business.
Task
Set up
timesheets
Set up
payroll tax
Customise
forms
Change the appearance of the default
pay slip and paycheque forms.
page 216
Import cards
Import employee information from:
• another AccountRight company file
• another accounting system
• a spreadsheet
• a text file.
page 290
Synchronise
employees
records with
Outlook
Synchronise your employees records
with your contact records in Microsoft
Outlook.
page 231
Group cards
Use identifiers and custom lists to
group the cards of employee who have
similar attributes.
page 229
See
Use timesheets to record all the hours
worked by hourly employees or to
record extra hours worked by
employees that are paid based on a
standard pay. If you pay employees for
time-billing activities, you can also
enter activity details on timesheets and
use these details to create activity slips.
page 121
Calculate your state or territory payroll
tax amounts using the payroll
information in your software.
page 135
See
Set up electronic payments
If you want, you can use your software to pay your suppliers and
employees electronically. You can make electronic payments in
the following ways:
38
„
prepare an electronic payment file (ABA file) for your bank to
process
„
transmit a payment directly from your AccountRight software
using MYOB M-Powered Payments.
MYOB M-Powered Payments is a subscription-based service.
If you have subscribed to this service, see your MYOB
M-Powered Payments user guide for information on how to
set up electronic payments.
CHAPTER 3
ADVANCED SETUP
Before you can prepare an electronic payment file, you need to
complete the following steps.
Task
See
1
Record your bank account details
below
2
Set up a clearing account
below
3
Record the bank details of suppliers
page 40
4
Record the bank details of employees
page 40
5
Enter your bank account details in the fields. Copy this
information exactly as it appears on your bank statement or
chequebook.
6
Select the Electronic Payment Type option and enter the
electronic payment file (ABA file) details.
7
If your bank file requires a self-balancing transaction, select
the Direct Entry File option.
8
Click OK to return to the Accounts List window.
9
Repeat from step 2, above for each bank account you want to
make electronic payments from.
Task 1: Record your bank account details
To record your bank account details
1
Go to the Accounts command centre and click Accounts
List. The Accounts List window appears.
2
Select the bank account (that is, an account with a Bank or
Credit Card account type) that you want to use for electronic
payments.
3
Click Edit. The Edit Accounts window appears.
4
Click the Banking tab.
Task 2: Set up a clearing account
When you record a transaction you want to pay electronically,
you need to post the transaction to a temporary holding account
until you create the electronic payment file. This holding account
is called a clearing account.
Check your accounts list for an account named ‘Electronic
Clearing Account’. If it doesn’t exist, you need to create it. Note
that the clearing account must be a banking account, that is, an
account with a Bank or Credit Card account type. For
information on creating an account, see ‘Set up accounts’ on
page 26.
Before you can post transactions to the electronic clearing
account, you need to make this account the linked (default)
account for electronic payments.
To link the clearing account
SET UP ELECTRONIC PAYMENTS
1
Go to the Setup menu, choose Linked Accounts and then
Accounts & Banking Accounts. The Accounts & Banking
Linked Accounts window appears.
2
In the Bank Account for Electronic Payments field, type or
select the Electronic Clearing Account.
3
Click OK.
39
40
Task 3: Record the bank details of
suppliers
Task 4: Record the bank details of
employees
To record the bank details of a supplier
To record the bank details of an employee
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Locate the supplier you pay electronically and click Edit. The
Card Information window appears.
2
Locate the employee you pay electronically and click Edit.
The Card Information window appears.
3
Click the Payment Details tab.
3
Click the Payment Details tab.
4
Select Electronic from the Payment Method list.
5
Select the number of bank accounts (up to three) the
employee wants their pay to be distributed to.
6
Enter the employee’s bank account details.
7
Type the statement text (Account 1 only) you want to appear
on the employee’s bank statements, for example ‘monthly
pay’.
8
If you are distributing to more than one account, in the Value
field, type the amount or percentage of the pay to be
deposited into the account and select the distribution
method (Percent or Dollar). Note that the final account will
receive the remaining amount of your employee's net pay.
4
Enter the supplier’s bank account details.
5
In the Statement Text field, type the text you want to appear
on your supplier’s bank statements. For example, you may
want the text ‘monthly rent’ to be shown on your real estate
agent’s bank statement since this will be a recurring
transaction each month.
6
Click Refund Details and enter the payment method by
which the supplier refunds you and click OK. The Card
Information window appears.
7
Click OK to return to the Cards List window.
8
Repeat from step 2 above for each supplier you pay
electronically.
CHAPTER 3
ADVANCED SETUP
Click OK to return to the Cards List window.
9
10
Repeat from step 2 on page 40 for each employee you pay
electronically.
Do an initial bank reconciliation
To check the accuracy of your business records, you should check
that the record of your bank account balances matches the
amounts on your bank statements. This task is called reconciling
accounts.
If your business traded prior to your conversion month and you
have uncleared banking transactions as at the first day of your
conversion month, you need to do an initial bank reconciliation.
Uncleared banking transactions are withdrawals and deposits
that have not been cleared by your bank as at the start of your
conversion month.
Do you need to complete this task? The initial bank
reconciliation procedure needs to be done for each bank account
that had uncleared transactions as at the first day of your conversion
month.
NOTE :
To do an initial bank reconciliation:
Task
See
1
Identify uncleared withdrawals and deposits
below
2
Record uncleared withdrawals and deposits
below
3
Reconcile
page 43
DO AN INITIAL BANK RECONCILIATION
Task 1: Identify uncleared withdrawals
and deposits
Compare your banking source information (such as your
chequebook and deposit book) with your bank statements for
the period that includes your conversion date. If you find
transactions that have not been cleared by your bank as at this
date, you will need to record the details of these transactions in
your company file.
For example, in June, the month prior to your conversion month,
you wrote a cheque for $1,000 and deposited $500 you received
from a customer. If these transactions had not appeared on a
bank statement by 30 June, you need to record both transactions
in your company file.
Task 2: Record uncleared withdrawals
and deposits
You need to record uncleared transactions in such a way that the
opening bank account balance is not affected. To do this, you
need to post a debit and a credit of equal amounts for each
transaction against the applicable bank account.
41
To enter uncleared withdrawals
42
To enter uncleared deposits
1
Go to the Banking command centre and click Spend Money.
The Spend Money window appears.
1
Go to the Banking command centre and click Receive
Money. The Receive Money window appears.
2
In the Pay from Account field, type or select the bank
account you want to reconcile.
2
In the Deposit to Account field, type or select the bank
account you want to reconcile.
3
In the Cheque No. field, enter a reference number for the
withdrawal.
3
4
In the Date field, type the first day of your conversion month.
For example, if your conversion month is July 2009, enter
01/07/09.
In the Date field, type the first day of your conversion month.
For example, if your conversion month is July 2009, enter
01/07/09.
4
In the Amount Received field, type the amount of the
deposit.
5
In the Amount field, type the amount of the withdrawal.
5
6
In the Acct # field, type or select the bank account you want
to reconcile. This must be the account entered in step 2
above.
In the Acct No. field, type or select the bank account you
want to reconcile. This must be the account entered in step 2
above.
6
In the Tax field, select the N-T tax code.
7
In the Tax field, select the N-T tax code.
7
Enter details of the deposit in the Memo field.
8
Enter details of the withdrawal in the Memo field.
8
Click Record.
9
Click Record.
9
Repeat from step 3 above for each uncleared deposit.
10
Repeat from step 3 above for each uncleared withdrawal.
CHAPTER 3
ADVANCED SETUP
Task 3: Reconcile
6
For each uncleared deposit, click the select column next to
the withdrawal. When each uncleared transaction is selected,
$0.00 appears in the Out of Balance field.
7
Click Reconcile. A confirmation window appears.
„ To print a report, click Print Report. When the report is
printed, click Reconcile.
„ To reconcile without printing a report, click Reconcile.
„ To change any details you entered in the Reconcile
Accounts window, click Cancel.
To reconcile the account
1
Go to the Banking command centre and click Reconcile
Accounts. The Reconcile Accounts window appears.
2
In the Account field, select the bank account you want to
reconcile.
3
In the New Statement Balance field, enter the closing bank
balance as at the day prior to your conversion month (for
example, the closing balance as at 30/06/2009).
4
In the Bank Statement Date field, enter the first date of your
conversion month. (For example, if your conversion month is
July 2009, enter 01/07/09.) Your uncleared transactions
appear.
When you recorded uncleared transactions, the same
account was debited and credited with the same amount.
Therefore, an uncleared transaction appears as both a deposit
and a withdrawal.
5
For each uncleared withdrawal, click the select column next
to the deposit.
DO AN INITIAL BANK RECONCILIATION
43
Create item records
You can use item records to store information about a product
and to track the quantities you buy and sell. You can also create
records for each type of service you provide.
Do you need to complete this task? If you buy and sell
items, such as finished goods, components used in production and
raw materials, you need to create records for them.
Optional inventory setup tasks
You may want to do the following tasks if they are relevant to
your business.
NOTE :
Task
Import items
Import item information from:
• another AccountRight company
file
• another accounting system
• a spreadsheet
• a text file.
page 290
Set up pricing
levels
Customise item pricing according to
customer status and sales quantities.
page 168
Create
locations
[AccountRight Enterprise only] If you
hold inventory at several locations,
you can keep track of item quantities
held at each location.
page 159
Group items
using custom
lists
Group and sort items by assigning
attributes to your items from custom
lists you define.
page 169
Create custom
fields
Set up fields to record additional
information about your inventory
items.
page 170
Item records enable you to view the sales and purchase history of
the products you sell or use in production. You can determine
which items are your best sellers and what you have in stock. This
can help you identify sales trends and reorder items before you
run out of them.
You can also create item records for the services you provide. This
enables you to list the items and services you buy and sell on the
same purchase order or invoice.
For example, if you are a plumber, you could set up items for the
materials you buy in order to carry out your work. You could also
set up item records for the services you provide, such as
installation and repairs. You can then record the labour and
material charges on the same invoice.
For information about creating item records, see ‘Creating
items’, on page 155.
44
See
CHAPTER 3
ADVANCED SETUP
Enter inventory opening balances
If you had items on hand as at the first day of your conversion
month, and you want to track on-hand quantities and values of
these items, you need to enter your inventory opening balances.
4
In the Counted column, type the quantity counted for each
item. The Difference column shows the difference between
the On Hand column and the Counted column.
5
When you have entered all your item quantities, click Adjust
Inventory. The Adjustment Information window appears.
Provide a default adjustment (expense) account.
Before you enter your opening inventory balances, you need to
do a stocktake of the actual items in your inventory. To help you
do this, print the Inventory Count Sheet report, which lists all
your inventoried items, and manually record quantities on it.
To print the inventory count sheet
1
Go to the Inventory command centre and click Count
Inventory. The Count Inventory window appears.
2
[AccountRight Enterprise only] If you store your items at
several locations, select the method you want to use to group
your items. You can group items by item number or by
location.
3
Click Print. The Inventory Count Sheet report is printed
with a list of all your items.
4
Record your on-hand quantities on this sheet.
To enter opening on-hand inventory items and values
1
Go to the Inventory command centre and click Count
Inventory. The Count Inventory window appears with a list
of your inventory items.
2
[AccountRight Enterprise only] If you store your items at
several locations, select the method you want to use to group
your items. You can group items by item number or by
location.
3
[AccountRight Enterprise only] If you store your items at
several locations, select the Include Zero On-Hand
Quantities option. A list of all your items appears.
ENTER INVENTORY OPENING BALANCES
Note that when you are entering opening on-hand balances,
you don’t need to enter a default expense account.
6
Click Continue. The window that appears depends on
whether you have entered an opening balance for your
inventory asset account (see ‘Enter account opening
balances’ on page 29).
„ If you entered an inventory opening balance, the Adjust
Inventory window appears.
„ If you did not enter an inventory opening balance, the
Opening Balance Check window appears. Click Adjust
Balances. The Adjust Inventory window appears.
45
The Adjust Inventory window displays a line for each item
whose opening quantity you entered in the Count Inventory
window. The line items display each item's number, quantity
and the account to which the opening balance will be posted.
This account is either your inventory asset account, or, if you
have not entered an opening balance for your inventory asset
account, your historical balancing account.
7
Enter any changes to the default entries in the Inventory
Journal Number, Date and Memo fields.
8
Type the unit cost of each item (how much a single unit of
each item costs you, not how much you are selling it for).
Do not change the account number in the Account
column The selection you made at step 7 above determines
the default account used to record your opening balances.
NOTE :
9
Click Record. The value of each item in the list is updated.
You can print the Items List Summary report to check your
inventory status. For more information on printing reports,
see ‘Reports’ on page 203.
46
CHAPTER 3
ADVANCED SETUP
Banking
BANKING
4
This chapter shows you how to record the cheques you have written, the cheques and credit card payments you have received, your credit card
purchases, your credit card payments and your ATM and Internet withdrawals and transfers.
You can create any number of bank and credit card accounts in your AccountRight software, and allocate transactions to as many accounts as you
like. If you are familiar with manual multi-column cashbook systems, you can think of your software as having the capacity to run multiple
cashbooks with an infinite number of columns.
Receiving money
In AccountRight software, the term receiving money refers to
recording receipts that are not payments for invoices. These
receipts might include equity injections, interest, adjustments
and so on. These can be entered using the Receive Money
window or by selecting the Receive Money transaction type in
the Bank Register window.
In the Receive Money window, you can record more details
about the receipt and allocate it to more than one account. This
is the procedure covered in this section. If you want to use the
Bank Register window—which lets you record a receipt with
minimum details—see ‘Entering transactions in the Bank Register
window’ on page 54.
If you want to record a payment for an invoice entered using the
Sales command centre, use the Receive Payments window or
select the Receive Payment transaction type in the Bank Register
window. See ‘Receiving payments’ on page 77 for more
information.
The options for recording receipts and invoice payments are
summarised in the following diagram.
47
Printing payment receipts You can print payment receipts for
payments entered in the Receive Money and Bank Register
windows. For more information, see ‘Printing payment receipts’
on page 79.
10
Allocate the amount to the appropriate account
A
B
C
D
E
To record money you receive
48
1
Go to the Banking command centre and click Receive
Money. The Receive Money window appears.
2
Choose one of the following:
„ Deposit to Account—In the Deposit to Account field,
type or select the required bank account.
„ Group with Undeposited Funds—Choose this option if
you want the deposit to be recorded in the undeposited
funds account. After you have grouped all the deposit
transactions you want, you can make one bank deposit for
all the undeposited funds. For more information, see ‘Bank
deposits’ on page 49.
3
If the deposit amount included tax, select the Tax Inclusive
option.
4
In the Payor field, type or select the payor’s name.
5
In the Amount field, type the amount received.
6
[Optional] In the Payment Method field, select the payment
method.
7
[Optional] If you want to record additional details about the
transaction, such as a cheque number, click Details and
record the details in the Applied Payment Details window
that appears.
8
Type the date of the transaction.
9
[Optional] Type a detailed comment in the Memo field to
help you identify the transaction later.
A
Type or select an account to which you want to assign the
transaction or part of the transaction.
B
Type the amount you want to assign to this account. The total
amount in this column must equal the amount in the Amount
Received field before you can record the transaction.
C
[Optional] Assign the amount to a job by entering the job
code here.
D
[Optional] Type a memo for each entry in the transaction.
E
The tax code that is linked to the allocation account appears
here automatically. You can change it if necessary.
11
If the payment covers more than one account, repeat step 10
on page 48 on a new transaction line.
12
If you want to view or change the tax amounts assigned to
the transaction, click the zoom arrow ( ) next to the Tax field.
13
[Optional] If you use categories and want to assign the
transaction to a particular category, select a category from
the Category list.
TIP : Save the deposit as a recurring transaction
To store
the transaction as a recurring transaction so that you can use it
again, click Save as Recurring. In the Edit Recurring Schedule
window, enter the necessary information and click Save. For
more information, see ‘Recurring transactions’ on page 197
14
Click Record.
CHAPTER 4
BANKING
Bank deposits
You need to create a bank deposit to record the receipt of
payments that you deposit as a single transaction in your bank
account (such as the day’s credit card and cash takings).
Before you record a bank deposit, you need to post the payments
to a temporary holding account (known as an Undeposited Funds
account) until you create a bank deposit. To do this, select the
Group with Undeposited Funds option in the Receive Money
or Receive Payments windows when you record a payment.
3
If you want to group receipts by payment method:
a In the Select Receipts by field, select Payment Method.
b In the adjacent field that appears, type or select one or
more payment types. (For credit cards, select one or more
credit card types.) Only payments made using that
method are listed.
4
Type a date to display undeposited funds up to and including
that date.
5
[Optional] Type a description of the bank deposit in the
Memo field.
6
Select the receipts you want to include in the bank deposit by
clicking in the Deposit column next to them. Alternatively, if
you want to select or deselect all receipts, click ( ) at the top
of the Deposits column.
Don’t group payments made directly to your bank
account Payments deposited directly into your bank account (for
example a customer payment made by direct credit), need to be
posted to the bank account that received the payment. You do not
need to group these payments.
NOTE :
To prepare a bank deposit
1
Go to the Banking command centre and click Prepare Bank
Deposit. The Prepare Bank Deposit window appears.
2
In the Deposit to Account field, type or select the account
into which the funds selected in the Prepare Bank Deposit
window will be deposited.
BANK DEPOSITS
49
7
In the Fees and Cash Back and/or the Adjustment for
Excess Funds fields:
a Type the adjustment amount.
b Type the date and an ID number.
c Select an expense or income account—as appropriate—for
the adjustment amounts.
d Type a description in the Memo field and complete other
fields as necessary.
e Click Record.
If you need to record additional adjustments or fees, click
Deposit Adjustment again.
[Optional] If you need to enter an adjustment
transaction—for example, to record credit card transaction
fees or to keep part of the deposit as cash—click Deposit
Adjustment. The Bank and Deposit Adjustments window
appears.
8
Click Record to record the bank deposit.
Spending money
In AccountRight software, the term spending money refers
specifically to recording payments for transactions for which
purchases have not been created. These include equity drawings,
bank charges, telephone bills and so on. These types of payment
can be entered using the Spend Money window or by selecting
the Spend Money transaction type in the Bank Register
window.
The Spend Money window lets you record more details about
the payment and allocate the payment to more than one
account. This is the procedure covered in this section. If you want
to use the Bank Register window—which lets you record a
payment with minimum details—see ‘Entering transactions in
the Bank Register window’ on page 54.
50
If you want to make a payment to a supplier for a purchase
entered using the Purchases command centre, use the Pay Bills
window or select the Pay Bill transaction type in the Bank
Register window. For more information, see ‘Paying bills’ on
page 102.
If you want to pay suppliers or employees electronically, you first
need to set up your accounts and cards in a particular way. For
more information, see ‘Setting up electronic payments’ on
page 53.
CHAPTER 4
BANKING
The options for recording payments are summarised in the
following diagram.
To record money you spend
1
Go to the Banking command centre and click Spend Money.
The Spend Money window appears.
2
Select how the payment is to be made.
„ If you are paying electronically—that is, if you will be
generating an electronic payment file (ABA file) for this
payment—click Group with Electronic Payments.
„
3
If you are paying by some other means—such as by cash,
cheque, credit card or Internet banking—type or select the
account you are paying from in the Pay from Account
field.
If the payment is tax inclusive, select the Tax Inclusive option.
Make your selection now Don’t select or deselect the
Tax Inclusive option after you enter an amount in the Amount
field.
NOTE :
SPENDING MONEY
51
4
Fill in the information in the cheque area of the window, just
as you would if you were writing a paper cheque. Enter the
payee card, cheque number (or other identification number),
amount, memo, etc.
9
TIP : Recap transaction Before you record this transaction,
you can use the recap transaction feature to view the journal
entries that will be created when the transaction is recorded.
This is useful for confirming that the journal entries are posted to
the correct accounts. To recap, choose Recap Transaction from
the Edit menu.
If you are paying electronically, enter your own unique
reference in the Statement Text field or accept the default.
The text entered in this field will appear on the payee’s bank
statement.
5
If you want to change the default payee address, type or
select the payee’s address in the Payee field.
6
Allocate the payment to the appropriate account.
If you want to assign the payment to a particular category,
select a category from the Category list. For more
information about categories, see ‘Categories’ on page 242.
Complete the payment
Save the payment as a recurring transaction If you
want to store the payment as a recurring transaction click Save
as Recurring. In the Edit Recurring Schedule window, enter
the necessary information and click Save. For more information,
see ‘Recurring transactions’ on page 197.
TIP :
A
7
8
52
B
C
D
E
A
Type or select the account you want to assign the payment to.
B
Type the allocation amount.
C
[Optional] Assign the payment to a job by entering the job
code here.
D
[Optional] Type a memo to describe the payment.
E
The tax code that is linked to the allocation account appears
here automatically. You change or delete it if necessary.
If your payment covers more than one account, repeat step 6.
You would do this, for example, when paying for a purchase
with a number of different types of purchases on it: postage,
magazines, stationary, etc.
If you want to view or change the tax amounts assigned to
the payment, click the zoom arrow ( ) next to the Tax field.
10
If you are paying by cheque and have already written a
cheque, select the Cheque Already Printed option.
11
If you want to send remittance advice in a batch, select an
option from the Remittance Advice Delivery Status list.
After you have recorded a number of payments, say, the day’s
payments, you can print or email remittance advices in a
batch. For more information, see ‘Sending forms’ on
page 213.
12
If you want to preview the remittance advice or cheque for
this transaction, click Print and then choose Preview Cheque
or Preview Remittance Advice. Note that the transaction is
recorded before it is displayed.
13
If you want to print a cheque or remittance advice now, click
Print and select the form type you want to print. Note that
the payment is recorded before it is printed.
Click Record.
14
CHAPTER 4
BANKING
Electronic payments
You can make electronic payments in the following ways:
„
prepare an electronic payment file (ABA file) for your bank to
process—discussed in this section
„
transmit a payment directly from your AccountRight software
using MYOB M-Powered Payments.
Once you have recorded all the supplier payments you want to
pay electronically, you can prepare an electronic payment file.
To prepare an electronic payment
1
Go to the Banking command centre and click Prepare
Electronic Payments. The Prepare Electronic Payments
window appears.
2
In the Pay From Account field, select the bank account from
which you are paying. The banking details of the account you
select are included in the file that you send to the bank for
processing.
3
If you want to group the electronic payment by payment
type—for example, to pay employees only—select a type in
the Select Payment By field.
4
In the Your Bank Statement Text field, type the text you
want to appear on your bank statement.
5
In the Bank Processing Date field, type the date you want
the payment to be processed.
MYOB M-Powered Payments is a subscription-based service.
If you have subscribed for this service, see your MYOB
M-Powered Payments User Guide or the Help Centre for
information on how to make electronic payments.
Electronic payment files contain the payment information for
your bank to process, including your bank details, your payees’
bank details and the amounts you want to pay. Electronic
payment files are prepared using the Australian Bankers’
Association (ABA) file format.
Once you have prepared an electronic payment file, you can
send it to your bank for processing (for example, by using online
banking software provided by your bank). Contact your bank for
more information on how to send electronic payment files for
processing.
Setting up electronic payments Before you can prepare an
electronic payment file, you need to complete the electronic
payment setup tasks. For more information, see ‘Set up electronic
payments’ on page 38.
Paying suppliers electronically When you record a supplier
payment in the Spend Money window, select the Group with
Electronic Payments option to indicate that you want to pay the
supplier electronically.
ELECTRONIC PAYMENTS
53
6
Click in the select column (
want to process.
7
Click Bank File. A window appears, informing you that the
payment will be recorded before the bank file is created.
The payment information is saved as an ABA file which you
can send to your bank for processing.
) next to those payments you
Multiple payment files If you are preparing multiple
electronic payments, make sure that you do not overwrite an
unprocessed ABA file when saving.
NOTE :
NOTE : The Record button is used to record MYOB
M-Powered payments To find out more about M-Powered
Payments, see ‘MYOB M-Powered Services’ on page 18.
10
If you want to enter another electronic payment transaction,
repeat from step 2 on page 53.
8
Click OK. The Save As window appears.
11
9
Select the destination folder and name for the electronic
payment file (the file extension must be ABA) and click Save.
Click Cancel to exit the Prepare Electronic Payments
window.
Entering transactions in the Bank Register window
You can enter the following transactions in the Bank Register
window: cheques, deposits, payments to suppliers, payments
from customers, sales and purchases.
To enter a transaction in the Bank Register window
1
Go to the Banking command centre and click Bank Register.
The Bank Register window appears.
2
In the Account field, select the bank or credit card account
that will be used for this transaction.
The main advantages of using the Bank Register window to
enter transactions instead of using transaction windows such as
Spend Money, are speed and convenience. For example, you
can record a customer payment, pay a bill and then write a
cheque without having to open multiple windows and switch
between them. As transactions can be recorded with minimum
detail, you save time when entering a batch of transactions. Note
that you cannot use the Bank Register window to record
electronic payments.
Importing your online bank and credit card statements
You can also use the Bank Register window to import your bank
and credit card statements. If a statement contains any
transactions that you have not entered, you can add them
quickly in the Bank Register window. For more information, see
‘Importing statements’ on page 61.
54
CHAPTER 4
BANKING
3
In the lower part of the window, select the transaction type
from the Type list.
12
[Optional] If you want to record the purpose of the
transaction, type a description in the Memo field.
4
Enter a transaction reference:
„ If you select Pay Bill, Spend Money or Enter Purchase
from the Type list, enter a cheque number (or other
transaction reference) in the Cheque No field.
„ If you select Receive Payment, Receive Money or Enter
Sale from the Type list, type a transaction reference in the
adjacent ID # field.
13
[Optional] If you use categories and want to assign the
transaction to a category, select a category from the
Category list. (Not applicable to Receive Payment and Pay
Bill transactions.) For more information about categories, see
‘Categories’ on page 242.
5
In the Date field, type the date of the transaction.
6
In the Card field, type or select the card for this transaction.
7
In the Amount field, type the total amount of the transaction,
including tax.
8
If you want to allocate the amount to only one account, type
or select the account that will be used for this transaction in
the Account field.
9
If you want to allocate the amount to more than one
allocation account, click Split. The corresponding transaction
window will appear, and you can then allocate the amount to
multiple accounts of your choice.
Save the transaction as a recurring transaction To
store the transaction as a recurring transaction so that you can
use it again, click Save as Recurring. In the Edit Recurring
Schedule window, enter the necessary information and click
Save. (Note that this option is available only for Spend Money
and Receive Money transaction types.) For more information,
see ‘Recurring transactions’ on page 197
TIP :
14
Click Record.
Note that you can also click Split to:
„ apply payments to a particular invoice or bill
„ enter the payment method
„ print the transaction.
NOTE : When the Split button is not available If the
transaction type is Enter Sale or Enter Purchase, Split is not
available. To open the transaction window, you will need to
record the transaction, then click the zoom arrow ( ) next to
the transaction in the Bank Register window.
10
Select the appropriate tax code in the Tax field (not
applicable to Receive Payment and Pay Bill).
11
[Optional] Assign the payment to a job by entering the job
code in the Job field. Note that this is not applicable for Pay
Bill and Receive Payment transactions.
ENTERING TRANSACTIONS IN THE BANK REGISTER WINDOW
55
Transferring money between accounts
You can transfer money between bank accounts, including bank
and credit card accounts, using the Transfer Money window.
You can also use this window to record Internet or
phone-banking transfers.
7
Saving as a recurring transaction If you want to store
the transaction as a recurring transaction, click Save as
Recurring. Enter details of the recurring transaction in the Edit
Recurring Schedule window and click Save. For more
information about recurring transactions, see ‘Recurring
transactions’ on page 197.
TIP :
To transfer money between accounts
56
1
Go to the Accounts command centre and click Transfer
Money. The Transfer Money window appears.
2
Enter a date for the transfer.
3
In the Transfer Money From field, type or select the account
from which the funds will be paid.
4
In the Transfer Money To field, type or select the account to
which the funds will be paid.
5
In the Amount field, type the amount to be transferred.
6
If you want to record the purpose of the transaction, type a
description in the Memo field.
If you want to assign the transaction to a particular category,
select the category from the Category list.
8
Click Record.
CHAPTER 4
BANKING
Tracking petty cash expenses
Most businesses keep a small amount of cash handy at the office
for miscellaneous expenses—postage, staff amenities, and so on.
You can track this petty cash amount separately by using a petty
cash account and allocating any miscellaneous expenses to that
account.
To allocate expenses to the petty cash account
Check your accounts list for an account named ‘Petty Cash’. If it
doesn’t exist, you need to create it. For information on creating
an account, see ‘Set up accounts’ on page 26.
1
Go to the Banking command centre and click Spend Money.
The Spend Money window appears.
2
In the Pay from Account field, select the Petty Cash account.
3
Enter a description of the transaction in the memo field.
4
Enter the date and amount of the transaction.
5
Enter the transactions as line items and allocate them to the
relevant expense account (in this example, the Office
Supplies account and the Postage account).
6
Since you do not need to print a cheque for this transaction,
select the Cheque Already Printed option.
7
Click Record.
To transfer money to your petty cash account
1
Go to the Accounts command centre and click Transfer
Money. The Transfer Money window appears.
2
In the Transfer Money From field, type or select the account
from which the funds will be paid.
3
In the Transfer Money To field, type or select the petty cash
account.
4
Enter the amount you are transferring in the Amount field
and click Record.
TRACKING PETTY CASH EXPENSES
Let’s assume you spent $90 on stationery and $10 on postage
from your petty cash float. You would record this transaction in
the following way.
57
Reconciling your bank accounts
To ensure the accuracy of your business records, you should
make sure the records of your bank account balances in your
company file match your bank’s records.
5
If you want to import bank statement data electronically, click
Actions and choose Get Statement. For more information,
see ‘Importing statements’ on page 61.
If you are reconciling your bank account for the first time since
you started using your software, see ‘Do an initial bank
reconciliation’ on page 41.
6
For each entry on your bank statement, select the
corresponding transaction by clicking in the select
column ( ). The selected line is highlighted and the
amounts in the Calculated Statement Balance and Out of
Balance fields are updated.
7
If there are entries on the statement relating to bank charges
or bank interest that do not appear among the transactions
on the Reconcile Accounts window, you need to manually
enter these transactions.
a Click Actions and choose Bank Entry. The Bank and
Deposit Adjustments window appears.
b Fill in the appropriate transaction details and click Record.
The Reconcile Accounts window reappears.
8
Click Reconcile. A window appears indicating whether your
account is reconciled or out of balance.
„ If your account is reconciled, you have the option of
printing the Reconciliation report by clicking Print
(recommended). Once the report is printed, the Reconcile
Accounts window reappears. Click Reconcile again to
complete the reconciliation process. If you don’t want to
print the report, click Reconcile. The transactions you
selected are considered cleared and won’t appear in the
Reconcile Accounts window the next time you display it.
„ If your account is out of balance, the window will indicate
the amount by which your account is out of balance, and
will provide you with some reasons why the account might
be out of balance. To correct the unreconciled amount,
follow the procedure below.
To reconcile your bank accounts
58
1
Go to the Banking command centre and click Reconcile
Accounts. The Reconcile Accounts window appears.
2
In the Account field, type or select the account you want to
reconcile.
3
In the New Statement Balance field, type the closing
balance that appears on the statement your bank sent you.
4
In the Bank Statement Date field, type the closing date that
appears on your bank statement and then press TAB. Only
unreconciled transactions dated on or before that date will
appear.
CHAPTER 4
BANKING
To correct an unreconciled amount
1
2
Check the following:
„ did you type the correct figure in the New Statement
Balance field? You need to type the closing balance from
your bank statement, not the opening balance.
„ did you type the correct date (that of the closing balance
from your bank statement) in the Bank Statement Date
field? An incorrect date may prevent some transactions
from appearing in the list.
„ did you select all the transactions that appear on the bank
statement? If not, some transactions might not have been
accounted for in the reconciled balance.
„ did you select, by mistake, a transaction that didn’t appear
on your bank statement? If yes, you need to deselect this
transaction.
„ did you record all bank charges and bank interest entries
that appear on the bank statement? If not, you need to
record them and select them for reconciliation. See step 7
in ‘To reconcile your bank accounts’, on page 58.
Repeat the reconciliation procedure. If your account is still out
of balance, then you may have deleted a transaction that has
been reconciled previously.
3
If you have deleted a previously reconciled transaction:
a Re-enter the transaction in your company file.
b Select it for reconciliation.
4
Repeat the reconciliation procedure.
Undoing an account reconciliation
If you have reconciled a transaction in error or deleted a
previously reconciled transaction, you can undo the previous
account reconciliation. When you undo a reconciliation, all
transactions for that period return to an unreconciled status.
If the error was made in a reconciliation earlier than your last
reconciliation, you can undo several reconciliation periods in
succession in your current financial year.
Note, when you undo an account reconciliation, you will need to
reconcile each transaction again and reprint your reconciliation
reports.
Purged transactions cannot be re-reconciled Do not
undo a reconciliation for a period containing purged transactions.
CAUTION :
NOTE : Identifying deleted transactions using the Audit Trail
report If you have set the Use Audit Trail Tracking
preference, you can use the Audit Trail report to search for
deleted transactions. Note that for a transaction to appear in
this report, you need to have set this preference before deleting
the transaction.
RECONCILING YOUR BANK ACCOUNTS
59
To undo an account reconciliation
Back up before undoing reconciliation We recommend
that you back up your company file before you undo a
reconciliation. Then, if you want to reverse the undo reconciliation,
you can restore the backup file.
NOTE :
60
1
Go to the Banking command centre and click Reconcile
Accounts. The Reconcile Accounts window appears.
2
In the Account field, type or select the account for which you
want to undo the reconciliation.
3
Click Actions and choose Undo Reconciliation. The Undo
Last Reconciliation window appears, confirming the account
and date of the reconciliation you are undoing.
4
Click Undo Reconciliation. A confirmation window appears.
5
Click OK. The Reconcile Accounts window reappears.
CHAPTER 4
BANKING
Importing statements
If you have an online banking facility, you can use the Get
Statement feature to import bank statement or credit card
statement files.
This feature enables you to import transactions that you haven’t
recorded in your company file (e.g. bank fees). It also enables you
to use the imported transactions as part of your reconciliation
process. Transactions on your statement can be automatically
matched with the transactions in your company file. Matched
transactions will be marked as cleared for reconciliation, making
it easy for you to reconcile your account at month-end.
If some transactions cannot be matched, you have the option of
matching them manually with uncleared transactions, adding
them or skipping them. Unmatched transactions are usually bank
interest, account fees and penalty charges applied by the bank.
4
Locate and select the downloaded statement file.
5
Click Open. The Get Statement window appears.
6
Click OK. The statement transactions are automatically
matched with the transactions in your company file using the
cheque number, date and amount as the criteria for matching
withdrawals and deposits. If:
„ there are unmatched transactions, the Unmatched
Statement Transactions window appears. Go to step 7
below.
„ all your transactions match, that’s it. These transactions will
be marked as cleared in the Reconcile Accounts window.
You can ignore the rest of this procedure.
7
Choose what you want to do with the unmatched
transactions.
„ If you want to match a transaction, select the transaction
and click Actions and choose Match Transaction. The
Match Transaction window appears, listing the uncleared
transactions in your company file for the specified account.
Select the transaction that you want to match with the
statement transaction and click Match. The transaction
will be marked as cleared.
„ If you want to add a transaction to your company file,
select the transaction, click Actions and choose Add
Transaction. The Spend Money window or the Receive
Money window (depending on the type of transaction you
are adding) appears. Enter the details of the transaction
and record it. The transaction is shown as cleared.
8
Repeat step 7 above for each uncleared transaction you want
to add or match.
To import your statement
Download your statement Before you can import your
bank or credit card statement, you need to download the statement
file from your bank. Your bank’s website should provide instructions
on how to download this file. The following file formats are
supported: OFX, QFX, QIF and OFC.
NOTE :
1
Go to the Banking command centre and click Bank Register.
The Bank Register window appears.
2
In the Account field, type or select the account that
corresponds to the bank or credit card statement.
3
Click Actions, then choose Get Statement. The Open
window appears.
IMPORTING STATEMENTS
61
9
When you have finished matching and adding transactions,
click Done. A list of all the transactions that were cleared
appears.
To void a cheque
4
If you find that one of your cheque forms is damaged and not
usable for printing or that you have made a mistake when writing
the cheque manually, you may want to void a cheque.
Leave the Amount field and the account allocation fields
blank.
5
Click Record, then click OK to confirm that you want to void
the cheque.
Match or add all transactions We recommend you
finish adding or matching every transaction in the unmatched
transaction list before you click Done. If you re-open the
statement file, the original list of unmatched transactions
reappears in the Unmatched Statement Transactions window.
CAUTION :
Recording miscellaneous transactions
Follow the steps below to void a cheque that you have not
recorded in your software. If you want to make changes to a
cheque you have already recorded, see ‘Changing a transaction’
on page 195.
1
Go to the Banking command centre and click Spend Money.
The Spend Money window appears.
2
Choose the cheque account from which you want to void the
cheque.
3
In the Cheque No. field, type the number of the cheque you
want to void.
To record ATM withdrawals
1
Go to the Banking command centre and click Spend Money.
The Spend Money window appears.
2
Select the account from which you withdrew money.
3
In the Cheque No field, enter a non-numeric word or phrase
to describe the withdrawal. That way you will know the
transaction isn’t an actual cheque when you view it in a list or
in a report. This will also allow you to skip the transaction
when you print a range of numbered cheques.
Credit card transactions
Before you record credit card transactions, you need to create a
credit card liability account for each credit card you will use.
Name the accounts after your credit cards, for example, VISA,
62
American Express, etc. These accounts will keep track of the
amount owed to the credit card provider. For information on
creating an account, see ‘Set up accounts’ on page 26.
CHAPTER 4
BANKING
Recording payments for credit card
purchases
Recording payments to credit card
providers
You record a payment for a credit card purchase by specifying the
credit card account in the Pay Bills, Spend Money or Bank
Register window.
When the time comes to pay your credit card provider, use the
Spend Money window to record a payment from your bank
account to your credit card liability account.
The method you use to record a payment for a credit card
purchase depends on whether you have entered a purchase
transaction using the Purchases window.
To record a payment to a credit card provider
1
Go to the Banking command centre and click Spend Money.
The Spend Money window appears.
If you have not entered a purchase, record the credit card
purchase in the Spend Money or Bank Register window.
2
In the Pay from Account field, type or select the bank
account you want to use to make this payment.
When you record the payment, the payment amount is assigned
to your credit card liability account.
3
In the Card field, type or select the credit card provider’s
name.
4
Type or select the payment date in the Date field.
5
Type the amount you want to pay.
6
Type a comment in the Memo field to provide a brief
description of the payment you are recording.
7
In the scrolling list area of the Spend Money window, type or
select the liability account you’ve created to track purchases
made with this credit card.
8
Click Record to record the payment to the credit card
provider.
„
If you have, then record the payment in the Pay Bills window.
„
For more information on recording payments, see:
„
‘Spending money’ on page 50
„
‘Entering transactions in the Bank Register window’ on
page 54
„
‘Paying bills’ on page 102.
Analysing your cash flow
You can use the Cash Flow Worksheet window to estimate your
short-term cash needs. This window allows you to use the
information you’ve entered to create a forecast of your bank
account or your credit card account.
ANALYSING YOUR CASH FLOW
You can change, add and delete information that appears in the
Cash Flow Worksheet window to better estimate your cash flow
needs.
63
3
Work in the Cash Flow Worksheet doesn’t affect your
company file Changes, deletions and additions you make in the
list are used for the purposes of the Cash Flow Worksheet window
only. The changes you make here won’t be reflected anywhere else
in your company file.
NOTE :
Information included on the Cash Flow Worksheet
information used to forecast cash needs includes:
The list in the middle of the window displays all the
transactions your company is due to perform during the time
period you specified. Any transactions that are overdue also
appear here.
The
„
all recorded transactions
„
paycheques, chequebook and general journal recurring
transactions that are expected to be recorded as actual
transactions within the specified range of days or were
scheduled to be recorded as actual transactions before the
current date.
The frequency that was established in the Edit Recurring
Schedule window for each recurring transaction is used to
determine the date when the transaction should occur.
If you accept the default number in the Days to Look
Ahead field without making an entry in the field and no
transactions appear, press TAB to refresh the window.
NOTE :
4
You can change any of the information that appears in the list
to better estimate your cash flow needs.
You can also add transactions to the list. To do this, scroll to
the bottom of the list and add transaction information in the
blank line. When you’re finished, press TAB to create a new
line, where you can enter additional transaction information.
5
Click Analyse Cash Needs.
The information used to forecast cash needs does not include
sales and purchases recurring transactions.
The Cash Flow Worksheet window now lists the transactions
that appeared in the previous list with a running balance.
You can also review the current cash position and analyse
the cash performance of your business using Business Insights. For
more information about Business Insights, see ‘Reviewing financial
information’ on page 248.
If you want to make changes to the listed transactions, click
Return to Worksheet, make your changes and then click
Analyse Cash Needs again.
NOTE :
To review your cash flow
64
Type the number of days for which you want to analyse your
cash needs in the Days To Look Ahead field, then press TAB.
1
In any command centre, select Cash Flow from the Analysis
list. The Cash Flow Worksheet window appears.
2
Select the bank or credit card account that you want to
analyse from the Bank Account list.
6
If you want to print the worksheet, click Print.
7
If you want to view the worksheet in Microsoft Excel, click
Excel.
8
Click Cancel to close the Cash Flow Worksheet window.
CHAPTER 4
BANKING
Sales
SALES
5
This chapter explains how to enter information about sales to your customers. You record a sale by specifying the customer’s details, the invoice
layout (item, service, professional, time billing or miscellaneous), the status of the sale (quote, order or invoice) and the details of the items or
services sold. The chapter also explains the various ways of sending an invoice, how to record customer payments, how to issue a customer credit,
and how to analyse sales activities with a variety of reports and other analytical tools.
Creating a customer card
Before you can record a sale, you need to create a card for your
customer.
5
Type the customer name and press TAB. Additional fields
appear.
6
Enter a code to identify this customer in the Card ID field. For
more information, see ‘Card identification codes’ on
page 237.
7
Enter contact details for the customer.
To create a customer card
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click New. The Card Information window appears.
3
Select Customer from the Card Type list.
4
Select the designation of the card: company or individual.
65
If you want to enter more contact information, select
Address 2 from the Locations list and enter the additional
details. You can enter contact details for five locations.
8
9
Click the Card Details tab. You can enter notes about the
customer, insert a picture and assign attributes to group and
sort the card.
If you want to...
See
insert a picture
page 238
assign identifiers to the card
page 229
assign an attribute from a custom list
page 230
enter additional information in a custom field
page 237
Click the Selling Details tab and enter your selling details.
A
A Selling
information
The selections you make here will be used, by
default, on quotes, orders and invoices that you
create for this customer. You can override these
selections when recording the sale.
B Tax
information
The customer’s tax information is entered here.
If the customer’s tax status takes precedence
over that of the item or service being sold,
select the Use Customer’s Tax Code option.
See ‘To assign tax codes to cards’ on page 184.
C Credit
terms
The credit terms you entered earlier appear
here by default. You can override them here for
this customer. The credit terms entered here are
used as the default terms for all sales to the
customer, but can be changed at any time.
10
Click the Payment Details tab and select the method of
payment your customer will use to pay you.
11
[Optional] Click the Jobs tab and enter the details of each job
you have started or are about to start for the customer. For
more information about jobs, see ‘Jobs’ on page 243.
12
[Optional] Click the History tab and type the dollar value of
the sales made prior to your conversion month. You can also
type or select the date that the contact became a customer.
13
Click OK to close the Card Information window.
B
C
66
CHAPTER 5
SALES
Entering sales
You enter a sale as a quote, order or invoice.
„
„
„
A Quote records an estimated price you have quoted to a
customer. A quote has no impact on your inventory levels and
can be changed to an order or an invoice when your
customer is ready to buy.
Entering a sales transaction
Complete the following steps to enter a sales transaction:
Task
An Order is a sale where no services or goods have been
delivered. While orders don’t affect your financial figures,
they do affect your committed inventory numbers. Orders
don’t create transactions unless the customer has paid you a
deposit. An order can be changed to an invoice.
An Invoice is usually created when you deliver the items or
services the customer ordered. It will update the appropriate
accounts, including the account for tracking receivables.
Invoices can be open (unpaid), closed (paid) or credit
(negative sale). An invoice can’t be changed to a quote or an
order.
You can enter a sale in:
„
the Sales window
„
the Bank Register window.
The procedure described in this section is for entering sales in the
Sales window, which allows you to record full details about a
transaction.
Bank Register window Entering a sale in the Bank Register
window is a fast way to enter a sales transaction. However, you
can enter less detail about the sale than if you entered it in the
Sales window. For more information, see ‘Entering transactions
in the Bank Register window’ on page 54.
ENTERING SALES
See
1
Enter information about the customer
below
2
Choose the type of sale
page 68
3
Enter the items or services you are selling
page 68
4
Enter additional information about the sale
page 69
5
Complete the sale
page 70
Task 1: Enter information about the
customer
1
Go to the Sales command centre and click Enter Sales. The
Sales window appears.
2
In the Customer field, type or select the customer’s name and
press TAB.
Customer credit limits and accounts on hold You
may not be able to record sales for customers who have
exceeded their credit limit or whose account has been placed on
hold. For more information, see ‘Credit control’ on page 80.
NOTE :
The terms and ship-to address shown in the Sales window are
the details recorded in the customer’s card.
67
3
Complete the fields as described in the following table.
A
B
C
D
A
Click the zoom arrow (
) to alter the credit terms for this
sale only. Note that if you want to change the credit terms
for all future sales to this customer, you must make that
change on the Selling Details tab of the customer’s card.
B
Type the invoice number here or accept the default number.
C
If you are entering prices that include tax, select the Tax
Inclusive option. Do not change this setting after you enter
an amount in the Amount column.
D
If the customer gave you a purchase order for this
transaction, enter that purchase order number here.
Task 3: Enter the items or services you are
selling
The scrolling list in the middle of the Sales window is where you
enter details of what you are selling. In this area you will enter
item numbers, activity ID numbers, descriptions, account
numbers (or names depending upon your selection in the
Preferences window) and other information to describe your
transaction.
One row in the scrolling list is one line item of the transaction. You
can enter as many line items for a sale as you want. The fields that
appear in the scrolling list depends on the layout you are using.
The following illustration shows the fields for a sale with an Item
layout and an Invoice status.
Item
sale
A
Task 2: Choose the type of sale
In this step, choose the required status and layout for the
transaction you are creating. The default layout displayed in the
Sales window is determined by the selection you made when
setting up sales details (using the Sales Easy Setup Assistant) or
when creating the customer’s card.
1
Miscellaneous layout The Miscellaneous layout is used
only for sales where a printed form is not needed.
68
Select the status from the list in the top-left corner of the
window: Quote, Order or Invoice.
D
E
F G
H
I
J
Ship
The quantity to be delivered.
B
Backorder
The quantity of the item to be placed on backorder.
An order for this amount will be created automatically
when you click Record.
C
Item
Number
Press TAB and select an item from your item list.
D
Description
A description of the item appears automatically. You
can change this if you want. If you want to check
spelling in this field, click Spell. For more information,
see ‘Spell-check’ on page 18.
E
Location
[AccountRight Enterprise only] If you sell this item
from more than one location, select the location
where the item will be delivered from. For more
information, see ‘Multiple inventory locations’ on
page 159.
F
Price
The price of the item appears automatically. You can
change this if you want.
G
Disc%
[Optional] Type a volume discount as a percentage.
NOTE :
2
C
A
Check if the default layout is appropriate.
There are five layouts: Service, Item, Professional, Time Billing
and Miscellaneous. The layout determines what fields appear
on the Sales window.
To change the default layout:
a Click Layout. The Select Layout window appears.
b Select the appropriate layout and click OK.
B
CHAPTER 5
SALES
H
Total
The total price of the items is calculated automatically.
I
Job
[Optional] Select a job number here to assign a line
item to a specific job.
J
Tax
The default tax for an item appears here. If you want
to change the tax code, type or select the required tax
code.
Task 4: Enter additional information
about the sale
The fields that appear at the bottom of the Sales window depend
on the type of sale you are creating.
D
E
H
The following illustration shows the fields for a sale with a Service
layout and an Invoice status. These fields also apply to the
Professional and Miscellaneous layouts.
Service
sale
A
A
A
Description
B
C
D
E
A
B
Salesperson,
Comment,
A description of the goods or services being sold. If
you want to check spelling in this field, click Spell. For
more information, see ‘Spell-check’ on page 18.
Ship Via,
C
F G
Enter optional information, such as the name of
the salesperson, a comment, shipping method and
the promised date of goods or services.
Promised Date
B
Acct # or
Account
Name
Select the account to which to allocate the sale. Press
TAB and select an account from your accounts list. This
is usually an income account. You should not select
your trade debtors account for ordinary sales.
B
Invoice Delivery
Status
If you want to print or email the invoice in a batch,
select the required delivery method from the list.
For more information, see ‘Sending forms in a
batch’ on page 213.
C
Amount
The amount you are charging for this sale.
C
Journal Memo
D
Job
[Optional] Select a job number here to assign a line
item to a specific job.
The journal memo is generated automatically. You
can change this if you want.
D
Tax
E
Tax
Select a tax code for the sale.
Click the zoom arrow ( ) if you want to view or
change the tax amounts assigned to the sale.
E
Freight
Type charges for freight.
F
Paid Today
Type an amount here to record the amount the
customer paid you at the time of the sale or, if you
are creating an order, the amount the customer
gave you as a deposit.
G
Payment Method
Type or select the payment method. Click Details
if you want to enter details about the payment. For
example, if you are being paid by credit card, you
can record the credit card number and expiry date.
H
Freight Tax
Type or select the tax code for the freight charges.
Add lines, subtotals and headers to sales transactions
You can add lines, headers and subtotals to invoices to make it easy
to separate and subtotal different groups of line items on one
invoice. For more information, see ‘Adding and deleting transaction
lines, headers and subtotals’ on page 70.
NOTE :
ENTERING SALES
69
Task 5: Complete the sale
To…
Do this...
There are several ways to complete the transaction.
Fax
Click Send To and choose Fax. A window from your
fax software appears. Send the fax, using your fax
software as you normally do.
Note: If you use MYOB M-Powered Invoices and
allow payments to be made using the POSTbillpay
in person option, do not fax the invoice. The
barcode may not be clear enough to scan.
Save as PDF
Click Send To and choose Disk. In the window that
appears, enter a name and location for the PDF file
and click Save.
Save the sale as a recurring sale. Click Save as Recurring.
In the Edit Recurring Schedule window, enter the necessary
information and click Save. For more information, see ‘Recurring
transactions’ on page 197.
TIP :
„
If you want to record the sale without printing or sending it,
click Record (for a sales quote, click Save Quote).
„
If you want to record the sale and create a purchase order,
click Create PO. The quote or order is recorded and the
Purchases window appears. For more information, see
‘Creating a purchase order from a sale’ on page 98.
„
70
If you want to record the sale and print, send or save it as a
PDF, complete the relevant procedure below.
To…
Do this...
Print
Click Print and choose:
• Pre-printed Invoice to use the default sales
form.
• Select Another Form to choose a different sales
form.
Print
preview
Click Print and choose Preview to preview the sales
form for this transaction.
Note that the transaction will be recorded before
the form is displayed.
Email
Click Send To and choose Email. Review and make
entries in the Email window and click Send. The
email, which will include a PDF (Portable
Document Format) attachment, will be sent to the
outbox of your default email software. Send the
email from your email software.
Adding and deleting transaction lines,
headers and subtotals
You can add transaction lines, headers and subtotals to sales
transactions.
To insert a blank line
1
In the Sales window, click in the line below where the line is
to appear.
2
Go to the Edit menu and choose Insert Line. A blank line will
appear in the scrolling list with the cursor positioned in the
Description column.
To insert a header
You can group several line items by inserting a header.
1
In the Sales window, click in the line where the header is to
appear.
2
Go to the Edit menu and choose Insert Header. A blank line
will appear in the scrolling list with the cursor positioned in
the Description column.
CHAPTER 5
SALES
3
Type the text for the header. The text appears in grey.
4
Press TAB to complete the header entry.
To insert a subtotal
above the subtotal line and below the last subtotal, if there is
one.
To delete a blank line, line item, header or subtotal
1
In the Sales window, click in the first line below the items to
be subtotalled.
1
In the Sales window, click anywhere in the blank line, line
item, header or subtotal you want to delete.
2
Go to the Edit menu and choose Insert Subtotal. A line
appears displaying the subtotal of the amounts that appear
2
Go to the Edit menu and choose Delete Line.
Recording sales with insufficient on-hand item quantities
If you track item quantities and values, and you want to record a
sales invoice for an item with insufficient on-hand quantities, you
can:
„
build, buy or backorder the item
„
record the sale and allow a negative on-hand item quantity
and value to be recorded for the item. (AccountRight
Enterprise only)
Build, buy or backorder items
When you attempt to record a sales invoice with an insufficient
on-hand quantity, the Backorder List window appears. In this
window, you need to build or buy the required quantity or create
a customer sales order (backorder) for the unavailable quantity,
before you can record the sale.
Before you begin Before you can auto-build an item in the
Backorder List window, you need to set up your item details. For
more information, see ‘Auto-building items’ on page 161.
If you want to record a purchase using this window, you need to
enter a default supplier for the item. For more information, see
‘Creating items’ on page 155.
To build, buy or backorder items in the Backorder List
window
1
Go to the Sales command centre and click Enter Sales. The
Sales window appears.
2
Enter the details of a sale. For more information, see ‘Entering
sales’ on page 67.
RECORDING SALES WITH INSUFFICIENT ON-HAND ITEM QUANTITIES
71
3
Click Record. If you have insufficient on-hand quantities of an
item, the Backorder List window appears.
To...
Do this...
Record a
purchase
1
Click in the Buy column next to the item you
want to purchase and then click Buy. The Enter
Purchase window appears.
2
Select Purchase as the status in the top left corner
and complete the purchase.
For information about completing the purchase,
see ‘Creating a supplier card’ on page 89.
Record a
sales order
This window lists items that are either out of stock or would
be as a result of recording the sale.
4
Decide what you want to do:
To...
Do this...
Auto-build
items
1
Click in the Build column next to the item you
want to auto-build and then click Build. The
Auto-Build Items window appears.
2
Click Build Items. The Build Items window
appears.
3
Click Record to build the finished item.
1
Click in the Backorder column next to the item
you want to place on backorder.
2
Click Backorder. The Sales window reappears
with the Ship and Backorder columns adjusted.
A sales order is automatically recorded for the
item when you record the invoice.
Multiple items with insufficient quantities You can use
the Backorder List window to perform various tasks. However, you
can only perform one of these tasks at a time and in the following
order: build, buy and then backorder. For example, if you want to
backorder some items and buy others, you need to buy the required
items first and then return to this window (by clicking Record in the
Sales window again) to complete the backorder.
NOTE :
Complete the sale. For more information, see ‘Complete the
sale’ on page 70.
Allow negative on-hand item quantities
AccountRight Enterprise only
If you want, you can set a preference to allow the recording of
sales with insufficient on-hand quantities. With this preference
set, the sale of an item that is not in stock results in a negative
on-hand item quantity and value.
72
CHAPTER 5
SALES
This feature affects your inventory reporting Allowing
negative item amounts to be recorded in your inventory affects the
reporting of inventory values and cost of goods sold. This feature
may not be suitable for some businesses. Consult your accountant
or financial adviser before using this option.
NOTE :
When you record the sale of an item with insufficient on-hand
quantities, an estimated item cost is recorded for the sale. The
estimated cost used depends on the item information available,
as described in the following table.
Cost type
Description
Average
cost
Average cost is used if you have sufficient on-hand stock for
which an average price can be determined. For example, if
you have ten units of an item on-hand, but make a sale for 12
units, average cost is based on the value of the ten units in
stock.
Last Cost
Last cost is used if the average cost is unavailable. For
example, if you have purchased an item before but currently
have none on-hand, the last purchase price is used.
Standard
Cost
Standard cost is used if you have never purchased an item
before, and you have entered a standard cost in the item
information card.
Zero cost
Zero cost is used if you have never purchased the item before
and you select this option when recording the sale.
When you record a purchase to replenish the items, a journal
entry automatically records the price variation between the
estimated cost and the actual cost, if there is one.
To allow the recording of sales with insufficient
on-hand item quantities
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
Click the Inventory tab and select the Allow the Sale of
Items with Insufficient On-Hand Quantities option.
RECORDING SALES WITH INSUFFICIENT ON-HAND ITEM QUANTITIES
73
Changing the status of a sale
The status of the following sale types can be changed:
Sale type
Can change to…
See
Quote
order
invoice
below
Order
invoice
below
Invoice
The status of an invoice cannot be changed.
To change an order to an invoice
1
Go to the Sales command centre and click Sales Register.
The Sales Register window appears.
2
Click the Orders tab.
3
Select the required order.
4
Click Change to Invoice to change the order to an invoice.
5
Review and update the information in the Sales window as
necessary. For example, you might want to change the
transaction date to today’s date.
6
Click Record. The new invoice is created and the original
order is removed.
If you want to change the status of several orders simultaneously,
see ‘To change the status of several orders to invoices’ below.
You can change the status of a sale from the Sales window or
from the Sales Register window.
To change a quote to an order or invoice
1
Go to the Sales command centre and click Sales Register.
The Sales Register window appears.
1
Click To Do List from any command centre. The To Do List
window appears.
2
Click the Quotes tab and select the required quote.
2
3
If you want to change the quote to:
„ an order, click Change to Order
„ an invoice, click Change to Invoice.
Click the Orders tab to display a list of all your orders. If you
want to view the details of a specific order, click the zoom
arrow ( ) to the left of the customer’s name.
3
Select the orders you want to change to invoices by clicking
in the select column ( ) next to each order.
4
Click Record as Actual. A window appears, requiring you to
enter a date for the selected transactions. This is the date that
the transactions will be recorded in your company file.
5
Enter a transaction date and click OK.
The Sales window appears.
74
To change the status of several orders to invoices
4
Make any necessary changes to these and other fields. For
example, change the transaction date to today’s date.
5
Click Record. The new order or invoice is created. The
original quote will remain in the Sales Register window
unless you indicated in the Sales view of the Preferences
window that you want quotes to be deleted when they are
changed to orders or invoices.
CHAPTER 5
SALES
Reviewing your sales information
There are several tools that you can use to review your sales
information.
Tool
See
Business
Insights
Use Business Insights to analyse sales
and customer information.
below
To Do List
The To Do List displays all open sales,
recurring sales and orders sorted by
overdue dates.
page 76
Analyse
Receivables
The Analyse Receivables window
displays ageing information for all
open invoices.
page 76
Analyse Sales
The Analyse Sales window provides
details of your sales activities.
page 76
Sales reports
Sales reports help you keep track of
your sales activities.
page 76
Sales history
History lets you view seven years of
sales history for an item, a customer or
an employee.
page 77
Sales
Register
The Sales Register window gives you
a complete picture of your sales
activity—open and closed invoices,
orders, quotes, returns, credits and so
on.
page 192
Find
Transactions
Find Transactions helps you find
individual sales transactions quickly.
page 192
Transaction
Journal
The Transaction Journal lists journal
entries of your sales and other
transactions.
page 193
REVIEWING YOUR SALES INFORMATION
To view sales information using Business Insights
Business Insights presents a summary of your sales information,
including which customers owe you money and how much
money is overdue. You can also see how much your customers
owe you for each ageing period, as well as the sales history of
your customers.
To find information specific to your needs, sort the table columns
by clicking a column heading. For example, you can sort the list
of outstanding invoices to find the most overdue invoice or the
largest overdue amount.
To analyse sales using Business Insights
1
Go to the Accounts command centre and click Business
Insights. The Business Insights window appears.
2
View the Customers who owe me money panel.
This panel shows the total you are owed and details of each
overdue customer payment (based on their invoiced credit
terms), including the number of days overdue.
3
Click Analyse customers to view graphs and information
about the money your customers owe you and the payment
history of each customer.
You can use this information to:
„ Contact customers for overdue payments
Identify
which customer payments are the most overdue or which
customers owe you the most money.
„ Renegotiate a customer’s credit terms
View the
customer’s outstanding balances and payment history,
such as the average number of days it takes for them to pay
you.
75
4
If you want to save a graph as an image so you can print it or
insert it into a document, right-click the graph and click Save
As. Choose where you want to save the image and click Save.
For more information about the calculations shown in Business
Insights, see the Help Centre.
To view a list of all unpaid sales sorted by days
overdue
1
Click To Do List in any command centre. The To Do List
window appears.
2
Click the A/R tab. A list of all unpaid sales appears.
The Overdue column shows the number of days an invoice is
overdue. (A negative number in the Overdue column
indicates that the payment is not yet due.) The number of
days an invoice is overdue is calculated by checking the
original date of the invoice, comparing it to today’s date and
looking at the customer’s credit terms.
3
If you want to send a collection letter to customers with
overdue payments:
a Select those customers by clicking in the select
column ( ).
b If you have installed OfficeLink, click Mail Merge to create
the letter directly in Microsoft Word. Otherwise, click Disk,
choose a file format and click Save.
To analyse your receivables
76
1
Go to the Sales command centre and click Analysis. The
Analyse Receivables window appears.
2
Click Filters and choose the time period and any other criteria
you want to apply.
3
Click OK. The information you selected appears in the
Analyse Receivables window.
To analyse your sales activities
The Analyse Sales window provides various illustrations—as
graphs or as lists—of your sales activities.
1
In the Sales command centre, click the Analysis down
arrow ( ).
2
Select Sales from the menu. The Analyse Sales window
appears.
3
Click Filters and choose the sales figures, time periods and
other criteria you want to apply.
4
Click OK. The information you selected appears in the
Analyse Sales window.
5
Select the display options in the Analyse Sales window to
view charts showing your sales activities.
To view sales reports
There are several sales reports that can help you track your sales
activities. For example, you can run an Aged Receivables
Summary report to view your customers’ current balances sorted
by ageing periods. The Sales Item Summary report shows you
which inventory items are selling best. The Referral Source
report is useful for finding out which referral source is bringing
your business the most money.
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Click the Sales tab.
For information on displaying, customising and printing your
reports, see ‘Reports’, on page 203.
CHAPTER 5
SALES
To view sales history
You can view sales history for an item, customer or employee.
1
2
Display the Item Information window for an item or the
Card Information window for a customer or an employee.
Click the History tab. The History view displays a total of
seven years sales history for the item or card: the five years
preceding the current financial year (as displayed in the
Company Information window), the current financial year
and the next year.
Employee sales history To record an employee’s sales
history, you need to select the employee as the salesperson
when you record a sale in the Sales window.
NOTE :
Receiving payments
When customers make payments against invoices, you record the
payments in the Receive Payments window. You can record the
payments against one or more of the customer’s outstanding
invoices. If you don’t want to create an invoice for a customer,
you can enter the customer payment in the Receive Money
window. See ‘Receiving money’ on page 47.
NOTE : Customer payments at point of sale If customers make
payments when purchasing merchandise or services and you are
issuing them an invoice, you can type the payment amount in the
Paid Today field of the invoice. See ‘Enter additional information
about the sale’ on page 69.
You can also record payments from your customers in the Bank
Register window. If you have several customer payments and
you don’t want to record detailed information (such as payment
methods and discounts) for each payment, the Bank Register
window can save you time. Note that when you use the Bank
Register window for customer payments, the entire payment is
automatically allocated to the oldest invoices first. For more
information, see ‘Entering transactions in the Bank Register
window’ on page 54.
RECEIVING PAYMENTS
77
The options for recording receipts and invoice payments are
summarised in the following diagram.
2
Choose the account that will be used to record the customer
payment.
„ Deposit to Account. Select this option and select the
required bank account.
„ Group with Undeposited Funds. Select this option if you
want the deposit to be recorded in the undeposited funds
account. After you have grouped all the deposit
transactions you want, you can then make a bank deposit.
For more information about undeposited funds and
preparing bank deposits, see ‘Bank deposits’ on page 49.
3
In the Customer field, type or select the customer’s name.
If you have no record of any sales to this customer, a message
window appears. Click OK and ensure you’ve selected the
correct customer.
4
Type the amount received.
5
If you want to record the payment method, select the
method in the Payment Method field. Click Details if you
want to enter further details about the payment. For
example, if you are being paid by credit card, you can record
the credit card number and expiry date.
6
If you want, adjust the memo and payment date. You can
change the ID number that is automatically generated.
However, we recommend that you use the default number to
make sure you don’t use duplicate IDs.
To record payments against invoices
1
78
Go to the Sales command centre and click Receive
Payments. The Receive Payments window appears.
CHAPTER 5
SALES
7
In the scrolling list in the bottom half of the window, indicate
which sales are covered by the payment by entering amounts
in the Amount Applied column. If the customer is paying a
deposit for an order, look for Order in the Status column.
A
B
C
C
Finance
Charge
If part of the payment is to pay finance charges,
type the finance charge amount here. For more
information, see ‘Finance charges paid by
customers’ on page 82.
D
Out of
Balance
The amount you apply in the Amount Applied
column accumulates in the Total Applied field.
The Total Applied amount (plus finance
charges) must equal the amount that appears in
the Amount Received field in the top half of the
window before you can record the transaction.
The Out of Balance amount must be zero
before you can record the transaction.
D
A
Discount
If you intend to offer an early-payment discount
for a sale, assign the discount to the appropriate
invoice in this column. Note that you won’t be
able to assign a discount to an invoice that is not
being settled in full. If this is the case, you can
give them a customer credit note. See
‘Customer credits’ on page 83.
B
Amount
Applied
Enter how much of the payment you want to
apply to each sale in this column.
If a customer overpays, you should still enter the amount
received. The full payment should be entered in the Amount
Received field and in the Amount Applied column in the
scrolling list. When you record the payment, a credit invoice
for the overpaid amount is created automatically. This can
either be refunded to the customer or applied to a future
invoice. For more details, see ‘Settling credits’ on page 85.
8
Click Record.
„
Receive Payments
„
Sales (New Invoice and New Order using Paid Today)
„
Settle Returns & Debits (Receive Refund view).
Printing payment receipts
For each receipt transaction you record, a corresponding receipt
can be printed. Receipt transactions can be recorded using the
following windows:
„
Bank Register
„
Receive Money
PRINTING PAYMENT RECEIPTS
79
Receipt transactions for which receipts cannot be printed are:
„
reversed cash receipt transactions
„
voided cash receipts
„
bank transactions such as bank deposits or interest earned.
Payment receipts correspond directly to receipt transactions.
That is, when you record a receipt transaction, the information
you entered on the transaction can be printed on a payment
receipt. Because of this relationship, if you change, reverse or
remove a receipt transaction, the payment receipts that have
been printed may no longer be valid.
To print payment receipts
1
Go to either the Sales or Banking command centre and click
Print Receipts. The Review Receipts Before Printing
window appears.
2
If you print receipts on pre-printed stationery, type the
number of the first receipt in the Number of First Receipt in
Printer field.
3
Type the number of receipts you want to print in the Print
field.
4
If you want to filter the information to be displayed on the
customer receipt, click Advanced Filters. For more
information, see ‘Advanced filters’ on page 215.
5
Click in the select column (
to print.
6
Click Print.
) next to each receipt you want
For more information about printing and customising forms, see
‘Forms’ on page 211.
Credit control
You can control credit by:
„
80
setting and enforcing customer credit limits, see ‘Credit
limits’ below
Credit limits
„
placing customer accounts on hold, see ‘Credit holds’ on
page 82
A credit limit is the maximum amount of credit you allow a
customer to charge to their account. You can set a default credit
limit for all new customers (see ‘Set up sales’ on page 35) or set a
specific credit limit for a single customer.
„
adding finance charges to customer statements, see ‘Finance
charges paid by customers’ on page 82.
If you want to enforce credit limits, you can set your preferences
to:
„
warn users before recording a sale that will exceed a
customer’s credit limit
„
prevent certain users from recording a sale that will exceed
the credit limit. When you use this preference, you set an
override password to allow approved users to record the sale.
CHAPTER 5
SALES
To set or change the credit limit for a single customer
To prevent the recording of a sale when a customer
exceeds the credit limit
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
1
Log in to your AccountRight software as the Administrator.
2
Click the Customer tab and select the customer for whom
you want to set a credit limit.
2
Go to the Setup menu and choose Preferences. The
Preferences window appears.
3
Click Actions and choose Edit Credit Limit & Hold. The
Credit Limit & Hold window appears.
3
Click the Sales tab.
4
Select the If Credit Limit is Exceeded on Sale preference and
select Prevent Unless Overridden from the list. The Credit
Limit Override Password window appears.
5
Type the override password and password confirmation.
6
Click OK. The Preferences window appears.
4
Type the customer’s credit limit in the Credit Limit field.
5
Click OK. The Card Information window appears.
6
Click OK to return to the Cards List window.
To receive a warning when a customer exceeds the
credit limit
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
Click the Sales tab.
3
Select the If Credit Limit is Exceeded on Sale preference and
choose Warn and Continue from the list.
4
Click OK.
CREDIT CONTROL
Changing the credit limit override password You can
change the credit limit override password in the Credit Limit
Override Password window (choose Preferences from the
Setup menu, click the Sales tab and then click Set Override).
NOTE :
7
Click OK to close the Preferences window.
81
Credit holds
Finance charges paid by customers
You can place a credit hold on a customer’s account to prevent
further sales being made to the customer. For example, you may
want to place a customer on credit hold when the customer’s
account is overdue.
Finance charges are amounts added to an outstanding balance as
a penalty for late payment. A finance charge is added to a
customer’s statement. The amount paid by a customer to cover
the charge is then recorded in the Receive Payments window.
To place a customer on credit hold
How finance charges are calculated For each open invoice,
your software calculates its due date using the terms specified on
the Selling Details tab of the Card Information window. The
overdue balance is then increased by 1/30th of the monthly
charge for late payment for every day it is overdue, where the
monthly charge is calculated by multiplying the amount overdue
by the % Monthly Charge for Late Payment value you specified
on the customer’s card.
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the Customer tab and select the customer whom you
want to place on credit hold.
3
Click Actions and choose Edit Credit Limit & Hold. The
Credit Limit & Hold window appears.
4
Select the Place this customer on Credit Hold option.
If the customer makes a partial payment during the overdue
period, the finance charge is adjusted accordingly.
Setting up finance charges Before you can apply finance
charges, you need to select an account for tracking late-payment
charges. Go to the Setup menu, choose Linked Accounts and
then Sales Accounts. Select the I assess charges for late
payment option and select an income account to record the late
payment charges.
Set the percentage you will be charging for late payments in the
% Monthly Charge for Late Payment field of the Selling
Details tab of each customer card.
5
Click OK. The Card Information window appears.
6
Click OK to return to the Cards List window.
Recording sales to customers on credit hold To record a
sale to a customer on credit hold, you need to remove the credit
hold. To do this, deselect the Place this customer on Credit Hold
option in the Credit Limit & Hold window on the customer’s card.
NOTE :
82
CHAPTER 5
SALES
Adding finance charges to customer statements
To show the finance charge owed by customers on their
statements, select the Add Finance Charges to Amount Due
option in the Advanced Filters window. For more information
about customer statements, see ‘Send customer statements’ on
page 259.
The finance charges payable by your customers only appear on
their statements, so you may want to keep copies of the
statements sent to customers.
Recording finance charges
When your customer pays the late-payment charge, type the
amount in the Finance Charge field of the Receive Payments
window. For more information, see ‘Receiving payments’ on
page 77.
Although the history of finance charges is not tracked, you can
perform an account inquiry (using Find Transactions) on the
income account you have set up to record late charges.
Deleting finance charges
When you enter a finance charge in the Receive Payments
window, two transactions are recorded—the full customer
payment, including the finance charge, is recorded in the
receipts journal and a transaction for the finance charge is
recorded in the sales journal.
Therefore, if you want to delete a finance charge payment, you
must delete both transactions. If only one entry is deleted, the
Receivables Reconciliation Summary report may show an
out-of-balance amount equal to the finance charge. When you
delete one of the entries, you are reminded to delete the other
entry for the finance charge. Note that a warning appears even
though you may have already deleted the corresponding invoice
or payment.
Customer credits
A customer credit is money that you owe to a customer.
Recording credits
To process a customer credit, you first need to record a credit
transaction and then record the settlement of the credit (for
example, by printing a refund cheque for your customer).
You can create a customer credit note in the following ways:
CUSTOMER CREDITS
„
Reverse an existing sale. Use this method if the customer
has paid for the entire sale.
„
Manually create a credit. Use this method if you are
crediting the customer for part of a sale.
83
To reverse a sale
6
Before you can reverse an invoice, the transaction must be
unchangeable, that is, the Transactions CAN’T be Changed;
They Must Be Reversed option must be selected in the Security
tab of the Preferences window.
In the Account column, select the account to be credited.
This is the income account you use to track sales returns and
allowances.
7
In the Amount field, type the amount of the credit as a
negative amount.
8
Click Record. A credit appears in the Sales Register window.
1
Find and open the invoice. See ‘Finding a transaction’ on
page 191.
2
Go to the Edit menu and choose Reverse Sale. A credit note
appears in the Sales window. Note that the invoice amount is
a negative amount.
If you want, you can make some changes to the credit note
(such as changing the date and memo), but you can’t change
the accounts, amounts and quantities that are associated
with the credit.
3
Click Record Reversal. A customer credit appears in the Sales
Register window.
To manually create a credit for a non-item sale
Use this method to credit the customer for part of a non-item
sale.
Create an account for tracking sales returns Before you
manually create a credit of this type for the first time, you may want
to create an account for tracking sales returns and allowances. Make
sure this account is an income account. See ‘Setting up accounts’ on
page 28.
TIP :
84
1
Go to the Sales command centre and click Enter Sales. The
Sales window appears.
2
Enter the customer details.
3
Select Invoice from the list in the top left corner of the
window.
4
Click Layout, choose Service and click OK.
5
In the Description column, enter a description of the credit
for your records.
To manually create a credit for an item sale
Use this method to credit the customer for part of an item sale.
1
Go to the Sales command centre and click Enter Sales. The
Sales window appears.
2
Enter the customer details.
3
Select Invoice from the list in the top left corner of the
window.
4
Click Layout and choose Item, then click OK.
5
Type the number of items being returned as a negative
number in the Ship column.
CHAPTER 5
SALES
6
7
Enter the item number in the Item Number field. The costs of
the items appear as negative amounts.
3
If the credit you want to settle does not appear, select
Customer from the Search By list to display a credit for a
particular customer. Type or select the customer’s name in
the adjacent field. A list of credits for that customer appears.
4
Select the credit you want to apply and click Apply to Sale.
The Settle Returns & Credits window appears, listing all
open invoices assigned to the customer.
5
Enter the amounts you want to apply to one or more open
invoices in the Amount Applied column.
Click Record. A customer credit appears in the Sales Register
window.
Settling credits
You can choose to settle a customer credit in the following ways:
„
Apply the credit to an open invoice. Applying the credit to
one or more of the customer’s open invoices reduces the
amount the customer owes you.
„
Record a refund. If the customer does not have any open
invoices, you can record a refund payment for the amount of
the customer credit.
To apply a customer credit to an open invoice
1
Go to the Sales command centre and click Sales Register.
The Sales Register window appears.
2
Click the Returns & Credits tab. A list of customer credits
appears.
CUSTOMER CREDITS
If the Apply Customer Payments Automatically to Oldest
Invoice First preference is set, amounts will appear next to
the oldest invoices in the Amount Applied column. However,
you can apply the credit amount to any one transaction or
you can divide it among many transactions in the list. Note
that the total amount you apply in the Amount Applied
column must equal the amount that appears in the Credit
Amount field.
6
If you want to apply part of a customer credit to any unpaid
finance charge, enter an amount in the Finance Charge field.
7
Click Record to apply the credit.
85
To pay a refund cheque
1
Go to the Sales command centre and click Sales Register.
The Sales Register window appears.
2
Click the Returns & Credits tab. A list of customer credits
appears.
3
If the credit you want to settle does not appear, select
Customer in the Search By list. Type or select the customer’s
name in the adjacent field and then press TAB. A list of credits
for that customer appears.
4
Select the credit you want to refund and click Pay Refund. A
refund cheque for the amount of the credit appears in the
Settle Returns & Credits window.
5
In the Account field, type or select a bank account.
6
If required, change other information in the window, such as
the transaction date.
7
If you are paying by cheque and you have already written it,
select the Cheque Already Printed option.
8
Specify how you want to send a remittance advice by
selecting a delivery option from the Remittance Advice
Delivery Status list.
9
Click Record.
Dealing with a supplier who is also a customer
If your business sells goods and services to a business from which
you also make purchases, you need to record the transactions
using a separate customer and supplier card. You can then record
a contra payment to offset the receivable and payable amounts.
Before you can record contra payments, you need to create a
bank account called Contra Suspense. For more information on
creating accounts, see ‘Setting up accounts’ on page 28.
86
To record contra payments
1
Record a payment from the customer.
a In the Receive Payments window, type or select the
Contra Suspense account in the Deposit to Account field.
b In the Customer field, type or select the customer’s name.
c Enter the amount that you need to offset against an
invoice.
CHAPTER 5
SALES
2
Record a payment made to the supplier.
a In the Pay Bills window, type or select the Contra Suspense
account in the Pay from Account field.
b In the Supplier field, type or select the supplier’s card.
c Enter the amount that you need to offset against a
purchase.
After these entries are made, your bank accounts will not have
been affected; yet the receivable and payable accounts have
been reduced. The Contra Suspense account balance should be
zero.
Accounting for bad debts
When you know that a debt will not be recovered, you need to
write it off. Before you can write off a bad debt, you need to
create a Bad Debt expense account in your accounts list. For
more information on creating accounts, see ‘Setting up accounts’
on page 28.
6
If you account for bad debts by posting a provision to an asset
account (for example, the Provision for Bad Debts asset
account), you can select that account.
7
In the Amount field, type the bad debt amount as a negative
number.
To write off a bad debt
8
In the Tax field, type or select the required tax code.
9
Click Record.
10
In the Settle Returns & Credits window, apply the credit
against the original open invoice. For more information, see
‘Settling credits’ on page 85.
1
Go to the Sales command centre and click Enter Sales. The
Sales window appears.
2
Enter customers details.
3
Click Layout and choose Miscellaneous, then click OK.
4
In the Description field, type a description of the transaction.
5
In the Acct No. field, type or select the account for Bad Debts.
ACCOUNTING FOR BAD DEBTS
87
88
CHAPTER 5
SALES
Purchases
PURCHASES
6
This chapter explains how to enter information about your purchases. You record a purchase by specifying the supplier details, the purchase form
layout (item, service, professional or miscellaneous), status of the purchase (quoted, ordered or billed) and details of the purchased items or
services. This chapter also explains how to pay your suppliers for these purchases, how to deal with suppliers who owe you money (settling a
supplier debit) and how to review and analyse your purchasing activity with a variety of reports and analytical tools.
Creating a supplier card
Before you can record a purchase order, you need to create a card
for your supplier.
To create a supplier card
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click New. The Card Information window appears.
3
Select Supplier from the Card Type list.
4
Select the designation of the card: company or individual.
5
Type the name of the supplier and press TAB. Additional fields
appear.
6
Enter a code to identify this supplier in the Card ID field. For
more information, see ‘Card identification codes’ on
page 237.
7
Enter contact details for the supplier.
If you want to enter more contact information, select
Address 2 from the Locations list and enter the additional
details. You can enter contact details for five locations.
89
Click the Card Details tab. You can enter notes about the
supplier, insert a picture and assign attributes to group and
sort the card.
8
If you want to...
See
insert a picture
page 238
assign identifiers to the card
page 229
assign an attribute from a custom list
page 230
enter additional information in a custom field
page 237
A Buying
information
The selections you make here will be used, by
default, on quotes, orders and bills that you create
for this supplier. You can override these selections
when recording the purchase.
B Tax
information
The supplier’s tax information is entered here. If the
supplier’s tax status takes precedence over that of
the item or service being sold, click the Use
Supplier’s Tax Code preference. See ‘Setting up tax
codes’ on page 182.
C Credit terms
The credit terms you entered earlier appear here by
default. You can override them here for this supplier.
The credit terms entered here are used as the default
terms for all purchases from the supplier, but can be
changed at any time.
Click the Buying Details tab and enter your buying details.
9
10
[Optional] Click the History tab and type the dollar value of
the purchases made prior to your conversion month. You can
also type or select the date that the contact became a
supplier.
11
Click OK to close the Card Information window.
A
B
C
90
CHAPTER 6
PURCHASES
Entering purchases
You can enter a purchase as a quote, order, received item or bill.
„
You can enter a quote to keep a record of an estimate or
quote you received from one of your suppliers. A quote has
no impact on your inventory levels and can be changed to an
order or a bill when you are ready to purchase.
„
An order is a purchase where no service or item has been
received. While orders do not affect your financial figures,
they do affect your inventory levels. Orders don’t create
transactions unless you have paid a deposit to the supplier. An
order can be changed to a bill but not a quote.
„
„
Bank Register window Entering a purchase in the Bank
Register window is a fast way to enter a purchase transaction.
However, you can enter less detail about the purchase than if you
entered it in the Purchases window. For more information, see
‘Entering transactions in the Bank Register window’ on page 54.
Entering a purchase transaction
Do the following tasks to enter a purchase transaction:
You can use a receive item purchase to record the receipt of
items you have ordered but have not yet been billed for.
When you record items received, the item is added to your
inventory and the cost of the item is added to an accrual
account for inventory items until you record a purchase for it.
Task
An accounts payable transaction is not recorded at this time.
You can only record a received items transaction in the item
layout, and only against an order.
A bill is usually created when you receive the items or services
you ordered and are required to pay the supplier. Recording a
bill will update the appropriate accounts, including the
account for tracking payables. Bills can be open (unpaid),
closed (paid) or debit (negative purchase). A bill cannot be
changed to a quote or an order.
You can enter a purchase in:
„
the Purchases window
„
the Bank Register window.
See
1
Enter information about the supplier
below
2
Choose the type of purchase
page 92
3
Enter the items or services you are purchasing
page 92
4
Enter additional information about the purchase
page 93
5
Complete the purchase
page 94
Task 1: Enter information about the
supplier
1
Go to the Purchases command centre and click Enter
Purchases. The Purchases window appears.
2
In the Supplier field, type or select the supplier’s name. The
terms shown in the Purchases window are the terms
recorded in the supplier’s card.
The purchases procedure described in this section is for entering
purchases in the Purchases window, which allows you to record
full details about a transaction.
ENTERING PURCHASES
91
3
Complete the fields as described in the table below:
A
4
B
C
Task 3: Enter the items or services you are
purchasing
The scrolling list in the middle of the Purchases window is where
you enter details of what you are buying. In this area, you will
enter item numbers, descriptions, account numbers (or account
names, depending upon your selection in the Preferences
window) and other information about your transaction.
A
Click the zoom arrow ( ) to alter the terms for this
purchase only. If you want to change the credit terms for all
future purchases to this supplier, you must make that
change on the Buying Details tab of the supplier’s card.
B
Type the purchase number here.
One row in the scrolling list is one line item of the transaction. You
can enter as many line items for a purchase as you want.
C
If the supplier gave you an invoice number for this
transaction, enter it here.
The fields that appear in the scrolling list differ according to the
type of purchase you are creating.
If you are entering prices that include tax, select the Tax
Inclusive option. Do not change this setting after you enter
an amount in the Amount column.
The following illustration shows the fields for a purchase with an
Item layout and a Bill status.
Item
layout
A
Task 2: Choose the type of purchase
Choose the status and layout for the purchase. The default layout
displayed in the Purchases window is determined by the
selections made when you set up purchase details (using the
Purchases Easy Setup Assistant) or when you created the
supplier’s card.
1
To change the default layout:
a Click Layout. The Select Layout window appears.
b Choose the layout you want to use and click OK.
92
D
E
F
G H
I
J
K
A
Bill
The quantity you have been invoiced for.
B
Received
This field is read-only. It displays the quantity of
items received against an order. For more
information, see ‘Recording items received
without a supplier bill’ on page 96.
C
Backorder
The quantity of the item to be placed on
backorder. An order for this amount will be
created automatically when you click Record.
D
Item Number
Press TAB and select the item being purchased
form the list that appears.
E
Description
A description of the item appears automatically.
You can change this if you want. If you want to
check spelling in this field, click Spell. For more
information, see ‘Spell-check’ on page 18.
Check whether the default layout is appropriate.
There are four layouts to choose from: service, item,
professional and miscellaneous.
2
B C
Select the status from the list in the top left corner of the
window: Quote, Order, Receive Item or Bill. Note that Receive
Item only appears for the Item layout.
CHAPTER 6
PURCHASES
F
Location
[AccountRight Enterprise only] If you store this
item in more than one location, select the
location where the item will be received. For
more information, see ‘Multiple inventory
locations’ on page 159.
G
Price
If you have purchased the item before or you
have entered a standard cost in the Buying
Details tab of the Item Information window, the
price of the item appears automatically. You can
change this if you want.
H
Disc%
[Optional] Type a volume discount as a
percentage.
I
Total
The total price is calculated automatically. If you
change the price, the Disc% field is updated to
show the discount applicable.
J
Job
[Optional] Select a job number here to assign the
line item to a specific job. For more information
about jobs, see ‘Jobs’ on page 243.
K
Tax
Select a tax code for the line item.
The following illustration shows the fields for a purchase with a
Service layout and a Bill status. These fields also apply to the
Professional and Miscellaneous layouts.
C
Amount
The amount you have been invoiced.
D
Job
[Optional] Select a job number here to assign the
line item to a specific job. For more information
about jobs, see ‘Tracking financial information’
on page 241.
E
Tax
Select a tax code for the line item.
NOTE : Add lines, subtotals and headers to purchases You can
add lines, headers and subtotals to purchases to make it easy to
separate and subtotal different groups of line items on one bill. For
more information, see ‘Adding and deleting lines, subtotals and
headers to purchases’ on page 95.
Task 4: Enter additional information
about the purchase
The fields that appear at the bottom of the Purchases window
differ, depending upon the type of purchase you are creating.
D
E
G
Service
layout
A
A
B
Description
Acct # or
Account Name
B
C
D
E
A description of the service being purchased. If
you want to check spelling in this field, click
Spell. For more information, see ‘Spell-check’ on
page 18.
The account to assign to the purchase. Press TAB
to display the accounts list from which you can
choose an account.
This should be an expense or cost of sales
account. You should not select your accounts
payable account for supplier purchases.
ENTERING PURCHASES
A
B
C
F
A
Optional
fields
Enter optional details, such as a comment, shipping
method and the date the goods or services were
promised.
B
Bill
Delivery
Status
If you want to print or email the purchase in a batch,
select the required bill delivery method from the list. For
more information, see ‘Sending forms’ on page 213.
C
Journal
Memo
The journal memo is generated automatically. You can
change it if you want.
93
D
Tax
If you want to change the tax amount of the purchase,
click the zoom arrow ( ).
E
Freight
Type any charges for freight.
F
Paid
Today
Type an amount here to indicate how much money you
paid at the time of the purchase or, if you are creating an
order, how much money you gave as a deposit.
Freight
tax
Select the tax code for the freight charges.
G
TIP : Recap transaction Before you record this transaction, you
can use the recap transaction feature to view the journal entries that
will be created when the transaction is recorded. This is useful for
confirming that the journal entries are posted to the correct
accounts. To recap, choose Recap Transaction from the Edit menu.
„
If you want to record the purchase and print, send or save it
as a PDF, complete the relevant procedure below.
To
Do this
Print
Click Print and choose:
• Pre-printed P.O. to use the default form.
• Select Another Form to choose a different
purchases form.
Note that you cannot print purchases with the
miscellaneous layout.
Print
preview
Click Print and choose Preview to preview the
purchases form for this transaction.
Note that the transaction will be recorded before the
form is displayed.
Email
Click Send To and choose Email. Review and make
entries in the Email window and click Send. The email,
which will include a PDF (Portable Document Format)
attachment, will be sent to the outbox of your default
email software. Send the email from your email
software.
Fax
Click Send To and choose Fax. A window from your fax
software appears. Send the fax, using your fax software.
Save as
PDF
Click Send To and choose Disk. In the window that
appears, enter a file name and location for the PDF file
and click Save.
Task 5: Complete the purchase
There are several ways you can complete the purchase.
Save the purchase as a recurring purchase You can save
the purchase as a recurring transaction so that you can use it again
in the future. Click Save as Recurring. In the Edit Recurring
Schedule window, enter the necessary information and click Save.
(For more information, see ‘Recurring transactions’ on page 197.)
TIP :
„
94
Record the purchase. To record the purchase without printing
it, click Record.
CHAPTER 6
PURCHASES
Adding and deleting lines, subtotals and
headers to purchases
You can add lines, headers and subtotals to purchase
transactions.
To insert a blank line
1
In the Purchases window, click in the line below where the
line is to appear.
2
Go to the Edit menu and choose Insert Line.
4
Press TAB to complete the entry.
To insert a subtotal
1
In the Purchases window, click in the first line below the
items to be subtotalled.
2
Go to the Edit menu and choose Insert Subtotal. A line
appears, displaying the subtotal of the individual amounts
that appear above the subtotal line and below the last
subtotal, if there is one.
To insert a header
You can group several line items by inserting a header.
1
In the Purchases window, click in the line below where the
header is to appear.
2
Go to the Edit menu and choose Insert Header. A blank line
will appear in the scrolling list with the cursor positioned in
the Description column.
3
To delete a blank line, line item, header or subtotal
1
In the Purchases window, click anywhere on the blank line,
line item, header or subtotal you want to delete.
2
Go to the Edit menu and choose Delete Line.
Type the text for the header. The text appears in grey.
1
Receiving items without a supplier bill
If you receive items from a supplier and have not been billed for
them, you may not know the actual amount payable to the
supplier. However, if you inventory these items, you will need to
add them to your on-hand inventory before you can sell them.
But, as you don’t know the amount payable, you shouldn’t
record an amount owed to the supplier at this time.
Instead, you can record the receipt of these items using a
purchase transaction with a Receive Item status. When you
RECEIVING ITEMS WITHOUT A SUPPLIER BILL
record a purchase with a Receive Item status, you enter an
estimated purchase amount, which is then allocated to the
accounts payable accrual account. Your accounts payable is not
affected at this time.
Later, when your supplier bills you for the items, you can record a
purchase with the actual purchase amount. When you record the
purchase, the actual purchase amount is allocated to your
95
accounts payable and the estimated amount is removed from the
accrual account.
Before you can record items received without a supplier bill, you
need to set up the accrual account for them.
Set up an accrual account for items
received without a supplier bill
When you record items received without a supplier bill, you need
to allocate the anticipated purchase amount to an accounts
payable or inventory accrual account.
If the account does not exist, you need to create it. The account
should be a liability account named, for example,
AP Accrual - Inventory. For information on creating an account,
see ‘Setting up accounts’ on page 28.
Recording items received without a
supplier bill
You need to record items received against a supplier purchase
order. If the order already exists, you can record the items
received against the order. If no order exists, you can create one
when you record the items received.
To record items received against an order
1
Go to the Purchases command centre and click Purchases
Register. The Purchases Register window appears.
2
Click the Orders tab.
3
Find the required order and select it.
4
Click Receive Items. The Purchases window appears with
the Receive Item status.
5
In the Receive field, type the item quantity received.
6
[AccountRight Enterprise only] If you keep items in more than
one location, type the location where you received the items
in the Location field, or select it from the list. Note that the
Location field only appears if you have set up multiple
locations.
Before you can allocate transactions to this account, you need to
make it the linked account for items received without a supplier
bill.
To link an account for items received
96
1
Go to the Setup menu, choose Linked Accounts and then
Purchases Accounts. The Purchases Linked Accounts
window appears.
2
Select the I can receive items without a Supplier bill option.
3
In the Liability Account for Item Receipts field that appears,
type or select the inventory accrual account.
4
Click OK.
CHAPTER 6
PURCHASES
7
Click Record. The items are recorded in your inventory and
the original order is updated with the number of items
received.
8
If the total number of items in the Received and To Date
columns of an item receipt is greater than the quantity in the
Ordered column, a message appears. You can:
„ Update order: If you choose to update the order, your
original order will be updated by the difference between
the quantity of the original order and the total received
(the quantities in the Receive column plus the quantity in
the To Date column).
„ New order: If you choose to create a new order, a new
order will be created. The quantity of items listed in the
new order will equal the difference between the amount of
the original order and the total received (the quantities in
the Receive column plus the quantity in the To Date
column).
„ Cancel: If you choose to cancel, you will return to the
Receive Item window without updating or creating any
orders.
9
When you receive the supplier’s bill, convert the order to a
bill. For more information, see ‘Changing the status of a
purchase’ on page 99.
2
In the Supplier field, type or select the supplier’s name or
select it from the list.
3
If the item layout does not appear:
a Click Layout. The Select Layout window appears.
b Select Item and then click OK.
4
Select Receive Items from the status list in the top-left of the
window.
5
Enter the purchase date and your order number.
6
In the Ordered field, type the quantity you ordered. This can
be more than the quantity received.
7
In the Receive field, type the quantity received.
8
In the Item Number field, type or select the item.
9
[AccountRight Enterprise only] If you keep items at more than
one location, type the location where you received the items
in the Location field, or select it from the list. Note that the
Location field only appears if you have set up multiple
locations.
To create an order when you record items received
If there is no purchase order for the items received, you can
create one when you receive the items.
1
Go to the Purchases command centre and click Enter
Purchases. The Purchases window appears.
NOTE : Recording items received from the Inventory
command centre You can also record items received by
clicking Receive Items from the Inventory command centre.
The Purchases window appears with the Receive Item purchase
status.
RECEIVING ITEMS WITHOUT A SUPPLIER BILL
97
10
In the Price field, type the estimated price for the items.
11
Click Record. The items are recorded in your inventory and a
purchase order is created with the number of items received.
12
When you receive the supplier’s bill, convert the order to a
purchase. For more information, see ‘Changing the status of a
purchase’ on page 99.
3
Click Create PO. The Purchases window appears with the
new purchase order displayed. The items you entered for the
sale automatically appear as line items on the purchase order.
4
Select a supplier in the Supplier field. Note, if you have
nominated a supplier for these items in the item setup, this
supplier will appear by default.
5
Enter the cost of the items in the Price column.
6
Complete the purchase order as you normally would. For
example, you may want to change the transaction date to
today’s date, or add items to the order.
7
Click Record. The new purchase order is created and the
original sales quote or order remains in the Sales Register
window.
Creating a purchase order from a sale
If you want to order items to fulfil a sale, you can create a
purchase order using sales quote or sales order details that you
have recorded.
To create a purchase order from a sale
1
2
98
Go to the Sales command centre and click Sales Register.
The Sales Register window appears.
Locate and select:
„ a quote—click the Quotes tab and select the required
quote
„ an order—click the Orders tab and select the required
order.
CHAPTER 6
PURCHASES
Changing the status of a purchase
The status of the following purchase types can be changed.
Purchase type
Can be changed to…
See
Quote
•
•
order
bill
below
Order
•
bill
below
Bill
The status of a bill cannot be changed.
Quotes and orders must be changed to a bill to show as payable.
To change a quote to an order or a bill
To change an order to a bill
You can change an order to a bill in the Purchases window or
from the Purchases Register window. If you want to change
several orders to bills simultaneously, see ‘To change the status of
several orders to bills’ below.
1
Go to the Purchases command centre and click Purchases
Register. The Purchases Register window appears.
2
Click the Orders tab.
3
Find the required order and select it.
4
Click Change to Bill. The Purchases window appears,
displaying the bill.
1
Go to the Purchases command centre and click Purchases
Register. The Purchases Register window appears.
5
If you want to, you can update the information in this
window, such as the transaction date.
2
Click the Quote tab.
6
3
Find the required quote and select it.
Click Record. A new bill is created and the original order is
removed.
4
If you want to change the quote to:
„ an order, click Change to Order. The Purchases window
appears.
„ a bill, click Change to Bill. The Purchases window
appears.
5
6
To change the status of several orders to bills
You can change the status of several orders to bills in the To Do
List window.
1
If you want to, you can update the information in the
Purchases window, such as the transaction date.
Click To Do List from any command centre. The To Do List
window appears.
2
Click the Orders tab to display a list of all your orders.
Click Record. The bill or order is recorded.
3
If you want to view details about a specific order, click the
zoom arrow ( ) to the right of the supplier’s name.
4
Select the orders you want to convert to purchases by clicking
in the select column ( ).
5
Click Record as Actual.
6
In the window that appears, enter a date for the selected
transactions. This is the date that the transactions will be
recorded in your accounts. Then, click OK.
The original quote will remain in the Purchases Register
window unless you have indicated in your preferences that
you want quotes to be deleted once they are recorded as
orders or bills.
CHANGING THE STATUS OF A PURCHASE
99
Reviewing your purchases information
There are several tools that you can use to review your purchases
information.
Tool
Description
See
Business
Insights
Use Business Insights to analyse
purchases and supplier information.
below
To Do List
The To Do List window displays all open
purchases, recurring purchases and
orders, sorted by due date.
page 101
Analyse
Payables
The Analyse Payables window provides
details of your purchase activities.
page 101
Purchase
Reports
Purchase reports help you keep track of
your purchase activities.
page 101
Purchase
History
History lets you view seven years of
purchase history for an item or a supplier.
page 101
Purchases
Register
The Purchases Register window gives
you a complete picture of your purchase
activity—open and closed purchases,
orders, quotes, returns, etc.
page 191
Find
Transactions
Find Transactions helps you find
purchase transactions.
page 191
Transaction
Journal
The Transaction Journal lists journal
entries of your purchases and other
transactions.
page 191
To find information specific to your needs, sort the table columns
by clicking a column heading. For example, you can find the
most overdue supplier payments or the largest overdue amounts.
1
Go to the Accounts command centre and click Business
Insights. The Business Insights window appears.
2
View the Suppliers I need to pay panel.
This panel shows the total payments you owe suppliers and
details of each overdue supplier payment (based on their
credit terms), including the number of days overdue.
3
Click Analyse suppliers to view graphs and information
about the money you owe suppliers and the payment history
of each supplier.
You can use this information to:
„ Keep on top of your supplier payments Identify which
supplier payments are due or which suppliers you owe the
most money to.
„ Negotiate a payment or discount with a supplier View
your payment history with the supplier, such as the
average number of days it takes you to pay them.
4
If you want to save a graph as an image so you can print it or
insert it into a document, right-click the graph and click Save
As. Choose where you want to save the image and click Save.
For more information about the calculations shown in Business
Insights, see the Help Centre.
To view purchases information using Business Insights
Business Insights presents a summary of your purchases
information, including which suppliers you owe money to and
how much is overdue. You can also see how much you owe
suppliers for each ageing period, as well as view your purchases
history with your suppliers.
100
CHAPTER 6
PURCHASES
Note that the information in this window is based on:
the entries you made in the Ageing Date window, and
„ the entries you made in the Ageing fields in the Reports &
Forms view of the Preferences window.
To view a list of all unpaid purchases sorted by days
overdue
„
You can view a list of all unpaid purchases in the To Do List and
enter supplier payments for those purchases.
1
Click To Do List in any command centre. The To Do List
window appears.
2
Click the A/P tab. A list of all unpaid purchases appears.
The Overdue column shows the number of days a payable is
overdue (a negative number in the Overdue column
indicates that the payment is not yet due). The number of
days a purchase is overdue is calculated by checking the
original date of purchase, comparing it to today’s date and
looking at your credit terms with the supplier.
To analyse payables
The Analyse Payables window allows you to view detailed
information about how much you owe suppliers and how long
you have owed them.
This analysis is based upon all purchases and payments recorded
in your company file.
To view purchase reports
There are several purchase reports that can help you track your
purchase activity. For example, you can run a Payables
Reconciliation Summary report if you want to analyse your
payables as of a past date. The Analyse Purchases Items
Spreadsheet report shows you the inventory items on which you
are spending the most money.
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Click the Purchases tab. A list of purchase reports appears.
For information on displaying, customising and printing your
reports, see ‘Reports’ on page 203.
To view purchase history
You can view the purchase history for an item or a supplier.
1
Go to the Purchases command centre and click Analysis. The
Analyse Payables window appears.
1
Display the Item Information window for an item or the
Card Information window for a supplier.
2
Click Filters. The Ageing Date window appears.
2
Click the History tab.
3
Set your filters in the Ageing Date window and click OK.
4
Display the required view of the Analyse Payables window:
„ The Summary view displays all the money that you owe
suppliers, totalled by supplier.
„ The Supplier Detail view displays all the money that you
owe the supplier in the Supplier Detail field.
„ The Purchase Detail view displays all the transactions
assigned to the purchase in the Purchase Detail field.
REVIEWING YOUR PURCHASES INFORMATION
The History tab displays a total of seven years of purchase
history for the item or card: the five years preceding your
current financial year (as displayed in the Company
Information window), the current financial year and the next
financial year.
101
Paying bills
If you have recorded a purchase, you pay the supplier in the Pay
Bills window. In this window you can record the payments to one
or more of your outstanding bills.
You can also make payments to suppliers in the Bank Register
window. Paying bills through the Bank Register window can
save you time if you have several purchases to pay and do not
need to record detailed information (such as discounts and
finance charges) for each payment. When you use the Bank
Register window for making supplier payments, the entire
payment is automatically allocated to the oldest purchase first.
See ‘Entering transactions in the Bank Register window’ on
page 54.
You can pay several outstanding bills at once in the To Do List
window. For more information, see ‘To pay several bills at once’
on page 104.
If you pay your suppliers electronically—that is, by sending an
electronic payment file (ABA file) to your bank for
processing—you need to complete the electronic payment setup
tasks. For more information, see ‘Set up electronic payments’ on
page 38.
The options for recording payments are summarised in the
following diagram.
To pay bills
102
1
Go to the Purchases command centre and click Pay Bills. The
Pay Bills window appears.
2
Select how the payment is to be made.
CHAPTER 6
PURCHASES
3
„
If you are paying the supplier electronically—that is, if you
will be generating an electronic payment file (ABA file) for
this payment—click Group with Electronic Payments.
„
If you are paying the supplier by some other means—such
as by cash, cheque, credit card or Internet banking—type
or select the account you are paying from in the Pay from
Account field.
B
Discount
If you are taking an early-payment discount for a
purchase, assign the discount to the appropriate
purchase in this column. Note that you cannot assign
a discount to a purchase that you are not settling in
full. If this is the case and you want to record a
discount that the supplier has given you, you can
create a supplier debit. See ‘Settling supplier debits’
on page 105.
C
Amount
Applied
Enter how much of the payment you want to apply to
each purchase in this column.
D
Finance
Charge
If part of the payment was used to pay finance
charges, type the finance charge amount here.
E
Out of
Balance
The Out of Balance amount must be zero before you
can record the transaction. This field will show an out
of balance amount if there is any variance between
values in the Total Paid and Amount fields. If you
have out of balance amounts, correct the amounts in
the Amount Applied and Finance Charge fields.
In the Supplier field, type or select the supplier’s name.
NOTE : If you receive an alert message If you have an
outstanding debit with this supplier, a message may appear. You
will have the opportunity to settle the debit now, or at a later
date. (See ‘Settling supplier debits’ on page 105).
4
Change the memo and payment date if necessary.
5
In the scrolling list in the bottom half of the window, indicate
which purchases are covered by the payment by entering
amounts in the Amount Applied column.
A
A
Pay All
PAYING BILLS
B
C D
E
If you are settling your account in full, click Pay All.
The total payment amount appears in the Amount
field and the individual payment amounts are applied
to each open purchase.
6
If you are recording a cheque payment and the cheque has
already been written, or if you are recording a transaction
that doesn’t require a printed cheque (such as a petty-cash
payment or Internet payment), select the Cheque Already
Printed option.
7
If you want to print or email a remittance advice later, as part
of a batch, select an option from the Remittance Advice
Delivery Status list.
8
If you want to preview the remittance advice or cheque for
this transaction, click Print and then choose Preview Cheque
or Preview Remittance Advice. Note that the transaction is
recorded before it is displayed.
9
If you want to print a cheque or remittance advice now, click
Print and select the form type you want to print. Note that
the payment is recorded before it is printed.
10
Click Record.
103
Paying bills electronically
When you have recorded the bill payments you want to pay
electronically, you can prepare the electronic payment file for
your bank to process. For more information, see ‘Paying suppliers
electronically’ on page 53.
If you pay suppliers electronically using MYOB M-Powered
Payments, see your MYOB M-Powered Payments User Guide.
To pay several bills at once
You can pay several outstanding bills at once in the To Do List
window. The linked account for paying bills will be used for all
supplier payments made from this window.
1
Click To Do List in any command centre. The To Do List
window appears.
2
Click the A/P tab. A list of all unpaid purchases appears.
3
If you want to view details about a specific bill, click the zoom
arrow ( ) next to the bill.
4
Click in the select column (
pay.
5
Click Pay Bills.
6
In the window that appears, enter a date for the selected
transactions. This is the date that the transactions will be
recorded in your accounts.
7
Click OK and then click Close.
) next to each bill you want to
Recording and settling supplier debits
A supplier debit is money that a supplier owes you.
To reverse an existing purchase
To process a supplier debit, you first need to record a debit
transaction and then record the settlement of the debit (for
example, by recording a refund cheque from your supplier).
Your company file transactions must be set to unchangeable
before you can reverse a purchase; that is, the Transactions
CAN’T be Changed; They Must be Reversed option must be
selected in the Security tab of the Preferences window.
Recording supplier debits
1
Find and display the purchase. See ‘Finding a transaction’ on
page 191.
2
Go to the Edit menu and choose Reverse Purchase. A
supplier debit appears in the Purchases window.
3
If you want, you can make some changes to the supplier debit
(such as changes to the date and memo), but you can’t
change the accounts, amounts and quantities that are
associated with the debit.
4
Click Record Reversal. A supplier debit appears in the
Purchases Register window.
You can create a supplier debit in one of two ways:
104
„
Reverse a purchase. Use this method if you have paid for the
entire purchase.
„
Manually create a debit. Use this method if you have been
debited for part of a purchase.
CHAPTER 6
PURCHASES
To manually create a debit for a non-item purchase
Tracking purchase returns and allowances Before you
create a supplier debit for the first time, you may want to create an
account for tracking purchase returns and allowances. Make sure
this account is an expense account. See ‘Setting up accounts’ on
page 28.
6
In the Item Number field, type the item number or select it
from the list. The cost of the item is displayed as negative
amount in the Total field.
7
Click Record. A supplier debit appears in the Purchases
Register window.
TIP :
1
Go to the Purchases command centre and click Enter
Purchases. The Purchases window appears.
2
In the Supplier field, type the supplier’s name or select it from
the list.
3
Select Bill from the list in the top left corner of the window.
4
Click Layout and select Miscellaneous.
5
In the Description field, type the reason for the supplier
debit.
6
In the Acct # field, type the account number to be debited or
select it from the list. This is normally an expense account
called Purchases Returns.
7
In the Amount field, type the amount of the debit as a
negative amount.
8
Settling supplier debits
You can settle a supplier debit in one of two ways:
„
Apply the debit to an unpaid purchase. Use this method to
apply the supplier debit to one or more of your unpaid
purchases from the supplier, or
„
Receive a refund. Use this method to record the receipt of a
refund cheque from the supplier.
To apply a supplier debit to an unpaid purchase
1
Go to the Purchases command centre and click Purchases
Register. The Purchases Register window appears.
2
Click the Returns & Debits tab.
3
Locate and select the debit you want to apply and click Apply
to Purchase. The Settle Returns & Debits window appears,
listing all open purchases that you have made from the
supplier.
4
Type the amount you want to apply to a purchase in the
Amount Applied column.
Click Record. A supplier debit appears in the Purchases
Register window.
To manually create a debit for an item purchase
1
Go to the Purchases command centre and click Enter
Purchases. The Purchases window appears.
2
In the Supplier field, type or select the supplier’s card.
3
Select Bill from the list in the top left corner of the window.
4
Click Layout, select Item and click OK.
5
In the Bill field, type the quantity of the item you are
returning as a negative number.
RECORDING AND SETTLING SUPPLIER DEBITS
If the Apply Supplier Payments Automatically to Oldest
Purchase First preference is selected in the Preferences
window (Purchases view), amounts will appear next to the
oldest purchase in the Amount Applied column. However,
you can apply the debit amount to one transaction or you can
split it over any of the transactions in the list.
105
Remember that the total amount you apply in the Amount
Applied column must equal the amount that appears in the
Debit Amount field.
5
If you want to apply part of the supplier debit to unpaid
finance charges you may have accrued, enter an amount in
the Finance Charge field.
6
Click Record to apply the supplier debit.
If the transaction is unbalanced, that is, if the total amount
entered in the Amount Applied column doesn’t equal the
amount displayed in the Debit Amount field at the top of the
window, a message appears. Click OK to close the message
and then check that the amounts you have applied to the
various transactions are correct.
106
To record a refund cheque
1
Go to the Purchases command centre and click Purchases
Register. The Purchases Register window appears.
2
Click the Returns & Debits tab.
3
Locate and select the debit that is being refunded and click
Receive Refund. A refund cheque for the amount of the
supplier debit appears in the Settle Returns & Debits
window.
4
Select a payment method in the Payment Method field and
click Details. The Applied Payment Details window appears.
5
Enter the details and click OK.
6
Click Record to record the refund cheque.
CHAPTER 6
PURCHASES
Adding finance charges paid to suppliers
Finance charges are amounts added to an outstanding balance as
a penalty for late payment. If your supplier has added a finance
charge to your account, you can record the charge in the Pay
Bills window.
Although your AccountRight software does not track the history
of finance charges, you can perform an account inquiry (using
Find Transactions) on the finance charge linked account to view
the amounts paid.
Setting up finance charges Before you can record finance
charges, you need to select an account for tracking late payment
charges. Go to the Setup menu, choose Linked Accounts, and
then Purchases Accounts. Select the I pay charges for late
payment option and select an expense account to record the
late payment charges.
Deleting finance charges If you enter a finance charge in the
Pay Bills window, two transactions are recorded:
Recording finance charges When you pay the finance charge,
type the amount in the Finance Charge field of the Pay Bills
window.
ADDING FINANCE CHARGES PAID TO SUPPLIERS
„
the full supplier payment, including the finance charge, is
recorded in the disbursements journal, and
„
the finance charge is recorded in the purchases journal.
Therefore, if you want to delete a finance charge payment, you
must delete both transactions. If only one entry is deleted, the
Payables Reconciliation Summary report may show an
out-of-balance amount equal to the finance charge. When you
delete one of the entries, you will be reminded to delete the other
entry for the finance charge. Note that the warning will appear
even though you may have already deleted the corresponding
payment.
107
108
CHAPTER 6
PURCHASES
Paying your employees
You can use the Payroll feature to process pays for wages and salary. Your AccountRight software can also calculate overtime rates, allowances,
union fees and other deductions, employer expenses, superannuation and entitlements such as holiday pay and sick leave, along with tax
deductions.
In your software, the components of an employee’s pay, such as wages, entitlements and taxes, are called payroll categories. These are assigned
to an employee’s card to calculate their standard pay.
Some payroll categories (deductions, expenses and taxes) determine what are known as payroll liabilities. These are amounts withheld for later
payment to the appropriate authority or agency.
When you process pays, you can vary an employee’s pay by overriding the standard pay values, such as the actual number of hours worked and
the number of hours of holiday leave taken. At year-end, you can print payment summaries for your employees to use at tax time. For more
information, see ‘Starting a new payroll year’ on page 267.
If you are concerned about employee privacy, use the security features to restrict access to this and other areas of your software. See ‘Managing
user accounts’ on page 275.
Before you can pay your employees, you need set up your payroll. See ‘Set up payroll’, on page 37.
109
PAYING YOUR EMPLOYEES
7
Creating payroll categories
An employee’s pay is made up of separate components, such as
normal time, overtime, superannuation guarantee, salary
sacrifice, PAYG withholding, and so on. In AccountRight, these
components are called payroll categories, and they are grouped
into six types: wages, superannuation, entitlements, deductions,
expenses and taxes.
Payroll category
Description
Wages
All monies paid to an employee for labour or
services rendered on an hourly, salary or other
basis.
Superannuation
Superannuation benefits such as superannuation
guarantee and salary sacrifice.
Entitlements
Items such as holiday and sick leave, which
employees accrue under the terms of their work
agreement.
Deductions
Amounts withheld by the employer and paid to
other organisations on behalf of the employee, for
example, union fees.
Employer
expenses
Employer-paid benefits other than
superannuation, for example, WorkCover.
Taxes
Amounts withheld by the employer from the
employee’s paycheque and paid to a statutory
authority, for example, PAYG Withholding paid to
the ATO.
A default list of payroll categories is generated when you create
your company file. You may want to review these categories and
tailor them to suit your business needs. See ‘To create a payroll
category’ below and ‘To edit a payroll category’ on page 116.
Reportable superannuation amounts The ATO requires that
some superannuation contributions that exceed the
110
superannuation guarantee amount of 9% (for example, salary
sacrifice and some salary packaged amounts), be reported on
payment summaries.
Any reportable superannuation contributions need be set up as
separate superannuation payroll categories.
For more information, see ‘Reportable Employer Super
Contributions (RESC)’ on page 134.
To create a payroll category
1
Go to the Payroll command centre and click Payroll
Categories. The Payroll Category List window appears.
2
Click the tab corresponding to the type of payroll category
you want to create.
You can only view tax categories You cannot create
any tax categories. To view the tax table information, click the
Taxes tab and then click the zoom arrow ( ) next to PAYG
Withholding. Tax table information is set by the ATO.
Therefore, any queries should be referred to the ATO.
NOTE :
CHAPTER 7
PAYING YOUR EMPLOYEES
3
Click New. The Information window for the selected payroll
category type appears.
4
Type a name for the payroll category.
5
Make the required selections for the payroll category. See the
following topics for information about the options available
for each payroll category type:
„ ‘Wages Information window’ below.
„ ‘Superannuation Information window’ on page 112.
„ ‘Entitlements Information window’ on page 113.
„ ‘Deduction Information window’ on page 114.
„ ‘Employer Expense Information window’ on page 115.
6
Click Employee. The Linked Employees window appears.
7
Select the employees whose pay will include this payroll
category, then click OK.
8
If you are creating:
„ a Wage category, click Exempt and select the taxes and
deductions that do not apply to the new category
„ a Superannuation category (and you have selected a
percentage of gross wages as the calculation basis), click
Exempt and exclude those wage categories that should
not be included in the superannuation calculation
„ an Entitlement category (and you have selected a
percentage of gross wages as the calculation basis), click
Exempt and exclude those wage categories that should
not be included in the entitlement calculation
„ a Deduction category, click Exempt and select the taxes
that should be applied only to net pay (that is, to gross pay
less the deduction amount)
„ an Employer Expense category (and you have selected a
percentage of gross wages as the calculation basis), click
Exempt and choose the wage categories that will not
contribute to the value of the expense.
9
Click OK.
10
Click OK to return to the Payroll Category List window.
CREATING PAYROLL CATEGORIES
Wages Information window
A
B
C
D
A Choose either Salary or Hourly to specify whether the calculation will
be based upon the hours worked or a set amount per pay period.
Linked wage categories for entitlements (such as Holiday Pay) must be
hourly for all employees (even those paid a salary) for the entitlements
to be processed correctly. See ‘Entitlements Information window’ on
page 113 for more information.
B If you select Hourly as the type of wages, the Pay Rate fields appear.
Select Regular Rate Multiplied by and enter, for example, 2 for double
time or 1.5 for time and a half. This will multiply the employee’s
Hourly Base Pay (entered in the Payroll Details tab view of their card)
by this amount. Alternatively, you can enter a fixed hourly rate. This
dollar amount per hour will be the same for each employee regardless
of their hourly base pay.
C If you want to override the employees’ wage expense account (entered
in the Payroll Details tab view of their card) for this particular wage,
select the Optional Account option and type or select the override
account in the field that appears.
D [Hourly wages only] If you want to use this wage category to pay leave
entitlements (such as Sick Pay or Holiday Pay), select the
Automatically Adjust Base Hourly or Base Salary Details option.
When you record leave, base pay amounts will be adjusted for the
amount of leave paid.
111
Superannuation Information window
A
B
D
E
C
F
G
H
C The Contribution Type may be Employee Additional, Employer
Additional, Productivity, Redundancy, Salary Sacrifice, Spouse or
Superannuation Guarantee. Select the appropriate type from the list.
• The Salary Sacrifice (deduction) contribution type is deducted from
an employee’s gross pay, that is, before PAYG withholding tax is
calculated. It reduces the employee’s gross taxable income.
• The Employee Additional (deduction) and Spouse (deduction)
contribution types are deducted from the employee’s net pay, that is,
after PAYG withholding tax is calculated.
• The Employer Additional (expense), Productivity (expense),
Redundancy (expense) and Superannuation Guarantee (expense)
contribution types are paid in addition to the employee’s gross pay.
D If you want the superannuation amount accrued to appear on
employees’ pay advice, select the Print on Pay Advice option.
E
Calculation Basis can be:
• User-Entered Amount per Pay Period allows you to enter an
amount at the time the pay is processed each pay period. Choose this
option if the amount varies regularly.
• Equals x Percent of allows you to enter a percentage of a payroll
category (such as wage, deduction or superannuation) or a
percentage of all wage categories (by choosing Gross Wages or
Federal Wages).
The superannuation will be calculated until the limit is reached.
• Equals x Dollars per allows you to enter a specified amount per pay
period, per hour, per month or per year until the specified limit is
reached.
F
In the Exclusions field type the amount by which the eligible wage is
reduced before the superannuation is calculated. For example, an
employee with a gross wage of $1000 per month and an exclusion of
$100 will have the superannuation calculated only on $900.
A Linked Expense Account is the account to which you charge employer
expense superannuation payroll categories (Employer Additional,
Productivity Superannuation, Redundancy Superannuation or
Superannuation Guarantee). The Default Employer Expense Account
you specified when setting up payroll appears as the default.
We recommend you create an expense account called Superannuation
Expense and select it as the linked expense account.
B Linked Payable Account is the liability account to which the
superannuation amounts accrue. The Default Tax/Deductions Payable
Account you specified when setting up payroll appears as the default.
We recommend you create a liability account called Superannuation
Liability and select it as the linked payable account.
112
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PAYING YOUR EMPLOYEES
G Superannuation limits can be used to place a ceiling on the
superannuation calculation. For example, for an Employee Additional
superannuation deduction of $30 per pay period and a limit of 2% of
gross wages, a pay with gross wages of $1000 yields superannuation of
only $20 (i.e. 2%). Limit can be one of the following three choices:
• No Limit signifies no limit to the superannuation calculated for this
category.
• Equals x Percent of results in the maximum superannuation
calculated being a percentage of wage, deduction or superannuation
payroll categories. For example, an Employer Additional
superannuation contribution might be $20 per pay period, but this
should not exceed a maximum of 20% of the employee’s base salary.
• Equals x Dollars per results in the maximum superannuation
calculated being a fixed amount per pay period, per hour, per month
or per year. For example, a Salary Sacrifice superannuation might be
5% of the employee’s gross wages up to $1000 per year.
H If this superannuation calculation is only payable if wages exceed a
specified amount per month (such as for superannuation guarantee
contributions), enter this amount in the Threshold field. For example, if
the superannuation guarantee contribution is 9% of the employee’s
gross wages and the threshold is $450 per month, then superannuation
is not payable until the employee’s gross wage exceeds $450 per month.
When determining whether the gross wages on a pay exceeds the
threshold per month, other pays issued that month are included. (See
‘Troubleshooting superannuation calculations’ on page 134.)
Entitlements Information window
A
B
CREATING PAYROLL CATEGORIES
A Calculation Basis can be:
• User-Entered Amount per Pay Period should be selected if you want
to manually enter a specific amount for each employee, each pay
period. Choose this option if the amount varies regularly.
• Equals x Percent of allows you to set the entitlement as a percentage
of the number of hours of any wage category. It can only be used with
employees who have an Hourly Base Pay (entered in the Payroll
Details tab view of their card). For information about the way in
which you should determine the percentage rate for calculating
holiday and sick-leave accruals, see ‘Calculating the percentage of
holiday and sick leave accruals’ on page 114.
Type the required percentage for the entitlement in the first field and
then select the wage category from the selection list, which shows all
your hourly wage categories, in addition to Gross Hours and Federal
Hours, which totals all the hourly wage categories you pay an
employee.
For example, an annual leave entitlement may be for 20 days per year,
being 160 hours per year based on a 40-hour week. Every hour
worked accumulates 0.076923 hours of leave, or 7.6923%. If a
worker is paid an hourly pay of 40 hours plus 2 hours overtime, and
both are included in gross hours, the Gross Hours and Federal Hours
options will calculate an entitlement on a weekly pay of 7.6923% of
42 hours, or 3.231 hours.
• Equals x Hours per allows you to enter a fixed number of hours to be
accrued each Pay Period, Month or Year, regardless of the hours
worked by the employee. If you have set your employees to be paid
on a salary basis rather than on an hourly basis, this is the only option
that will automatically accrue entitlements. Using this method, an
annual leave entitlement may be for 20 days per year, being 160
hours per year based on a 40-hour week. If the employee is being paid
fortnightly, there are 26 pay periods per year. The amount you enter
here would be 160 ÷ 26 = 6.154 hours per pay period. If you pay more
than a standard pay period in one cheque, you will need to manually
adjust this figure. For example, for 2 weeks pay on one pay (1 week in
advance), you would double it to 12.308 hours.
C
B If you want the entitlement amount to appear on the pay advice, select
the Print on Pay Advice option.
D
C If you want to carry over any entitlement leave balance from the previous
year, select the Carry Remaining Entitlement Over to Next Year option.
113
D Each entitlement category must have a Linked Wages Category. For
example, the Holiday Leave Entitlement could be linked to the Holiday
Pay wage category and the Sick Leave Entitlement could be linked to
the Sick Leave wage category. If you create a new entitlement, you must
link it to a wage category.
When employees uses their entitlement, for example, by taking a holiday,
you allocate the hours taken against the linked wage category (in this
example, the Holiday Pay wage category). The employee’s accrued leave
balance is reduced by the hours taken.
Note that you can link multiple wage categories to an entitlement. This
enables you to provide and track different types of the same entitlement.
For example, you can link a Sick Pay With Certificate wage category and
Sick Pay Without Certificate wage category to sick leave entitlement.
When an employee takes either type of leave, your sick leave entitlement
is reduced by the hours taken.
Deduction Information window
A
B
C
A
Linked Payable Account is the account (usually a liability account) in
which all the deducted money will be accrued. The Default
Tax/Deductions Payable Account you specified when setting up
payroll appears as the default. You can change this default if you want to
track the deduction separately. For example, if you are deducting union
fees, create a Union Fees Payable liability account. This way, the
balance sheet will display the deductions separately from your PAYG
Withholding and other deductions.
B
Calculation Basis can be one of the following choices:
• User-Entered Amount per Pay Period should be selected if you
want to manually enter a specific amount for each employee, each
pay period. Note that manually entered deductions should be
entered as negative values.
• Equals x Percent of allows you to enter a percentage of any of the
wage categories. This amount will be deducted until the deduction
limit (see below) is reached.
Type or select a wage category upon which the calculation is to be
based. Alternatively, you can select Gross Wages or Federal Wages,
which totals all wage categories (hourly and salary) you pay an
employee.
• Equals x Dollars per allows you to deduct the specified amount per
pay period, per month, per year or per hour. This amount will be
deducted until the limit (see below) is reached.
Calculating the percentage of holiday and sick leave
accruals
The following examples may help you calculate the percentage
rate for your hourly employees.
Holiday entitlements
„
An employee has an entitlement to 20 days holiday a year
and works an 8-hour day.
8 × 5 = 40 work hours per week
20 × 8 = 160 hours of holiday leave
160 ÷ (40 × 52) = 7.6923%
„
An employee has an entitlement to 20 days holiday a year
and works a 7.6-hour day.
7.6 × 5 = 38 work hours per week
20 × 7.6 = 152 hours of holiday leave
152 ÷ (38 × 52) = 7.6923%
Sick leave entitlements
„
114
An employee has 6 days sick leave a year and works an 8-hour
day.
8 x 5 = 40 work hours per week
6 x 8 = 48 hours of sick leave
48 ÷ (40 x 52) = 2.31%
CHAPTER 7
PAYING YOUR EMPLOYEES
C
Limit may be one of the following choices:
• No Limit signifies no limit on the amount of money that can be
deducted from the employee’s pay for this category.
• Equals x Percent of results in the maximum deduction amount
being a percentage of a wage category. For example, a deduction
might be $50 per pay period up to a maximum of 50% of the
employee’s base salary. The special categories of Gross Wages and
Federal Wages is also available here (refer to discussion in ‘Equals x
Percent of’, above).
• Equals x Dollars per results in the maximum deduction being a fixed
dollar amount per pay period, per month or per year. For example, a
deduction might be 10% of the employee’s gross wages up to
$1,500 per year.
B
Linked Payable Account is the liability account to which your expense
will accrue. The Default Tax/Deductions Payable Account you specified
when setting up payroll appears as the default.
C
If you want employer expense amounts to appear on employees’ pay
advice, select the Print on Pay Advice option.
D Calculation Basis can be one of the following choices:
• Equals x Percent of allows you to enter a percentage of any of the
wage or deduction categories, or a percentage of all the wage
categories (by choosing Gross Wages). This expense will be charged
until the expense limit is reached.
• Equals x Dollars per allows you to enter the specified amount per pay
period, per month or per year until the limit is reached.
E
Limits can be used to place a ceiling on the expense. For example, for an
expense of $30 per pay period and a limit of 2% of gross wages, a pay
with gross wages of $1,000 yields an expense of only $20 (i.e. 2%). Limit
may be one of the following choices:
• No Limit signifies no limit to the expense for this category.
• Equals x Percent of results in the maximum expense being a
percentage of a wage or deduction category or of all wage categories.
For example, an expense may be $20 per pay period up to a
maximum of 20% of the employee’s salary.
• Equals x Dollars per results in the maximum expense being a fixed
dollar amount per pay period, per month or per year. For example, an
expense might be 5% of the employee’s gross wages up to $1,000
per year.
F
Employer expenses, such as WorkCover, are only payable if wages exceed
a specified amount per month. Enter this amount in the Threshold field.
When determining if the gross wages on a pay exceed the minimum
wage threshold per month, other pays processed in that month are
included.
Employer Expense Information window
A
B
C
D
E
F
A
Linked Expense Account is the account to which you are charging this
expense. The Default Employer Expense Account you specified when
setting up payroll appears as the default.
CREATING PAYROLL CATEGORIES
115
Editing payroll categories
2
To edit a payroll category
Click the tab corresponding to the type of payroll category
you want to edit—Wages, Superannuation, Entitlements,
Deductions or Expenses.
You can only view tax categories You cannot create
any tax categories. To view the tax table information, click the
Taxes tab and then click the zoom arrow ( ) next to PAYG
Withholding. Tax table information is set by the ATO.
Therefore, any queries should be referred to the ATO.
NOTE :
Payroll categories linked to employee cards If you edit a
payroll category that is linked to employee cards, any changes you
make will apply to all employee cards linked to that category.
NOTE :
1
Go to the Payroll command centre and click Payroll
Categories. The Payroll Category List window appears.
3
Click the zoom arrow ( ) next to the payroll category you
want to edit. The information window for that category
appears.
4
Make the required selections for the payroll category. See the
following topics for information about the options available
for each payroll category type:
„ ‘Wages Information window’ on page 111.
„ ‘Superannuation Information window’ on page 112.
„ ‘Entitlements Information window’ on page 113.
„ ‘Deduction Information window’ on page 114.
„ ‘Employer Expense Information window’ on page 115.
5
Click OK.
5
Type the employee’s first name and their contact details.
6
Select the currency in which you pay the employee. Note that
if you will be recording the employee’s paycheques using the
Process Payroll Assistant, you must select your local currency.
7
If you want to enter payroll information, continue with
‘Entering employee payroll information’ on page 117.
8
Click OK and then click Close to exit the Cards List window.
Creating employee cards
To create an employee card
116
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click New. The Card Information window appears.
3
Select Employee in the Card Type field.
4
Type the employee’s last name and press TAB.
CHAPTER 7
PAYING YOUR EMPLOYEES
Entering employee payroll information
Once you have created payroll categories (see page 110) and an
employee card (see page 116), you can enter the employee’s
payroll information.
5
Enter your employee’s personal details, such as start date,
employment category, employment status and employment
classification.
Restrict user access to employee information User IDs can
be set up to restrict access to employee payroll, banking and
contact information stored in the card file and in reports. You can
select broad restrictions, such as disallowing access to the
employee card file, or you can set specific restrictions, such as
viewing employee banking details.
If you want to prevent a user from editing and viewing all payroll
details, you need to restrict access to payroll reports as well as to
employee card information and Payroll command centre
functions. You can set these restrictions in the access profile of
each user ID. For more information, see ‘Managing user
accounts’ on page 275.
To enter payroll information for an employee
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the Employee tab and select an employee.
3
Click Edit. The Card Information window appears.
4
Click the Payroll Details tab
Adding employment classifications If the
employment classification you require does not appear in the list
of classifications, you need to add it to the list. You can do this in
the Employment Classification List window (go to the Lists
menu and choose Employment Classifications).
NOTE :
6
Select how you will deliver the employee’s pay slip. If you
select email, enter the employee’s email address in the Pay
Slip Email field.
Enter wage information
7
ENTERING EMPLOYEE PAYROLL INFORMATION
Click Wages and enter the wage information for this
employee.
a Select the employee’s pay basis.
117
b
c
d
e
f
When you select a pay basis, the corresponding payroll
category for paying wage amounts is automatically selected
in the Wage list. If you select Hourly, the Base Hourly wage
category (or the name you assigned to this category) is
selected. If you select Salary, the Base Salary wage category
(or the name you assigned to this category) is selected.
Enter the employee’s annual salary amount or hourly wage
rate.
Select the employee’s pay frequency in the Pay Frequency
field.
In the Hours in [...] Pay Period field, type the number of
hours in the employee’s pay period.
If the employee’s wage expense account is different from
the default account, in the Wages Expense Account field,
type or select the required account.
Click in the select column ( ) next to each wage category
that applies to the employee.
NOTE : Choice of superannuation fund To meet your choice
of superannuation fund obligations, you need to provide eligible
employees with a Standard Choice Form and make contributions
to their nominated complying fund. For more information about
your obligations, contact the ATO.
a If you need to provide a Standard Choice Form to this
employee, click Print Superannuation Choice Form and
then click Print in the Review Employees Before Printing
window that appears. The Card Information window
reappears.
b In the Superannuation Fund field, type or select your
employee’s nominated fund. If your employee’s
superannuation fund does not appear on the list, you need
to create it. For more information, see ‘Superannuation
reporting’ on page 133.
c Type the employee’s fund membership number in the
Employee Membership # field.
d Click in the select column ( ) next to each
superannuation category that applies to the employee.
Enter superannuation information
8
118
Click Superannuation and enter the employee’s
superannuation details.
CHAPTER 7
PAYING YOUR EMPLOYEES
Enter entitlement, deduction and expense information
9
Click Entitlements and click in the select column (
each entitlement that applies to the employee.
) next to
10
Click Deductions and click in the select column (
each deduction that applies to the employee.
) next to
11
Click Employer Expenses and click in the select column (
next to each expense that applies to the employee.
)
Enter tax information
12
Click Taxes and enter the employee’s tax details.
a Type the employee’s tax file number in the Tax File
Number field.
b Select the employee’s tax table from the Tax Table list.
c If you selected Withholding Variation from the Tax Table
list, type the variation rate in the Withholding Variation
Rate field.
d If the employee is claiming a tax rebate, type the total
rebate amount in the Total Rebates field.
Amounts entered in this field reduce the tax payable over
the year in instalments based on the employee’s pay
frequency. For example, if the employee is paid monthly,
1/12th of the rebate is applied to each pay.
e If the employee requests additional tax to be withheld from
their pay, type the amount to be withheld each pay period
in the Extra Tax field.
Enter standard pay details
13
Click Standard Pay. The employee’s default pay details
appear. The default values are determined by the payroll
categories selected and values entered from step 7 on
page 117.
a If necessary, change the employee’s default pay details by
overriding the values that appear in the Hours or Amount
column next to a payroll category.
If you use timesheets to record all hours worked by an
employee, enter zero as the default hours for the Base
Hourly payroll category.
Payroll categories with a calculated value The
value of a payroll category with Calculated displayed in the
Hours or Amount column is calculated when you process a
pay. For example, tax amounts and entitlement hours where
hours are calculated as a percentage of the gross hours paid.
NOTE :
b [Optional] If you want to assign a job number to a payroll
category for this employee, click in the Job column and
enter or select a job number.
ENTERING EMPLOYEE PAYROLL INFORMATION
119
c [Optional] If you track financial information using
a Select the number of bank accounts (up to three) the
categories, select a category from the list.
employee wants their pay to be distributed to.
b Enter the employee’s bank details for each account.
c Enter the statement text (Account 1 only) you want to
appear on the employee’s bank statements.
d If you are distributing to more than one account, in the
Value field, type the amount or percentage of the pay to
be deposited into the account and select the distribution
method (Percent or Dollars) from the list. Note that the
final account will receive the remaining amount of your
employee’s net pay.
18
Click OK. The Cards List window reappears.
19
Click Close to return to the Payroll command centre.
Enter pay history and time billing information
14
If you have already paid the employee in the current payroll
year, click Pay History and type the amounts you have paid in
the Activity column next to each relevant payroll category.
You can enter pay history for specific months, quarters or for
the year to date.
Amounts entered in the Pay History window appear on
payment summaries and reports not derived from payroll
activity (such as register reports). They are not recorded as
transactions in your accounts.
15
If you use the Time Billing function to track time the
employee spends to complete work for clients and customers,
click Time Billing and enter the employee’s time billing rate
and cost per hour. For more information, see Chapter 8,
’Billing for time,’ starting on page 143.
Enter payment method Information
120
16
Click the Payment Details tab and select the method you use
to pay the employee in the Payment Method list.
17
If you selected Electronic in the Payment Method field:
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PAYING YOUR EMPLOYEES
Timesheets
Timesheets are used to record all the hours worked by hourly
employees or to record extra hours worked by employees that
are paid based on a standard pay. If you pay employees for
time-billing activities, you can also enter activity details on
timesheets and use these details to create activity slips.
The timesheet feature is optional. If your hourly employees work
a fixed number of hours per pay and you don’t pay employees for
time-billing activities, there’s no need for you to use this feature.
However, if you pay employees for additional hours worked, such
as overtime, you can record these hours using timesheets.
5
Select the first day of your pay week from the My Week
Starts on [...] list. If your pay period starts on a different day
each period, for example, you pay monthly, you can select
any day.
6
Click OK.
To enter a timesheet
1
Go to the Payroll command centre and click Enter
Timesheet. The Enter Timesheet window appears.
2
In the Employee field, type or select the employee’s name.
The employee’s timesheet, with any previously entered
details for the period shown, appears.
When you record timesheet information for a pay period, you
can then include the timesheet details when you process
employee pays.
Creating a timesheet entry when recording an activity
slip You can create a timesheet entry from the Activity Slip view of
the Enter Activity Slip window by selecting the Include Hours on
Timesheet option. This allows you to enter greater detail about the
activity. See ‘Creating activity slips’ on page 148.
NOTE :
Before using timesheets, you need to set a preference.
To set up timesheets
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
Click the System tab.
3
Select the I Use Timesheets for [...] and My Week Starts on
[...] preference.
4
If you use timesheets to record:
„ time billing and payroll information, select Time Billing
and Payroll from the I Use Timesheets for [...] list.
„ payroll information only, select Payroll from the I Use
Timesheets for [...] list.
TIMESHEETS
Grey values in the hours column A grey value in an
hours column indicates hours paid.
NOTE :
121
3
If you are recording details for a week other than the current
week, select the required week:
„ click the back arrow (
) to select a previous week
„ click the forward arrow (
) to select a future week
„ click the calendar icon (
) to select a week from the
calendar that appears.
4
Enter timesheet details in one of the following ways:
If you want to...
Do this…
Enter the daily hours
for each payroll
category worked
For each payroll category, type or select
an hourly payroll category in the Payroll
Category field and enter the daily hours
worked in the date fields.
You can also:
• record time-billing details (depending
on your selection in the Preferences
window)
• type a description in the Notes field
• assign a job number.
Use the same details
as the previous week
Click Copy From Previous. The
employee’s timesheet details for the
previous week appear.
5
If you want to record the start and stop times for a payroll
category:
a Select the Display Start/Stop Time Column option. The
Start/Stop column appears.
b Enter the start and stop time for the required categories.
6
If you want to enter a timesheet for another week, repeat
from step 3 above.
7
Click OK.
If you recorded time-billing activity details on this timesheet,
an activity slip is created. You can review or modify the
activity slip information in the Enter Activity Slip window or
the Enter Timesheet window.
Delete timesheet entries
You can delete unpaid timesheet entries at any time by clearing
all timesheet details for a week or by deleting a timesheet line
entry.
When you delete timesheet entries with activity details, the linked
activity slip is also deleted.
To clear a timesheet for a week
1
In the Enter Timesheet window, select the employee and the
required week.
2
Click Clear Timesheet. All unpaid details for the selected
week are cleared.
To delete a timesheet line entry
122
1
In the Enter Timesheet window, select the employee and the
required week.
2
Click in the line entry you want to delete.
3
Choose Delete Line from the Edit menu.
CHAPTER 7
PAYING YOUR EMPLOYEES
View timesheet reports
1
Go to the Reports menu and select Index to Reports.
2
Click the Payroll tab and select:
„ Timesheets—to view all timesheets entered for a specific
week.
„
Unprocessed Timesheets—to view all unprocessed
timesheets.
For information about reports, see ‘Producing reports’ on
page 203.
Processing your payroll
The Process Payroll assistant guides you through the process of
recording your employees’ pays.
In some windows of the Process Payroll assistant you can click
Back to return to a previous window to review and change the
entries you have made. You can also quit the assistant while you
are in a window that has a Cancel button. If you quit the
assistant, you will need to start from the beginning.
Pay frequency You can process pays for all employees assigned
a pay frequency, such as, weekly or monthly, or process pay for
an individual employee.
If you want to record pays for more than one pay frequency on
the same day—for example, when your weekly and monthly pay
dates coincide—you need to process a pay run for each
frequency.
Excluding employees from pay processing You can
temporarily remove an employee from a pay frequency by
making their employee card inactive. For example, if you employ
seasonal workers and full-time employees, you may want to
make the seasonal workers’ employee cards inactive during the
off season.
PROCESSING YOUR PAYROLL
To make an employee card inactive, open the employee’s Card
Information window and click Inactive Card in the Profile tab
view.
Before you begin Before you process pays, you need the
following information:
„
hours worked by hourly employees
„
holiday and sick pay hours taken
„
details of any other wage amounts, such as sales commissions
and bonuses.
Task
See
1
Select the pay period
page 124
2
[Optional] Include employee timesheets
page 125
3
Select and edit employee pays
page 125
4
Record employee pays
page 128
5
Process payments
page 129
6
Print/email pay slips
page 130
123
Task 1: Select the pay period
1
3
Go to the Payroll command centre and select Process
Payroll. The Select Pay Period window appears.
If you are paying leave in advance:
a Select the Pay leave in advance option. The Leave In
Advance window appears.
b If you are paying leave in addition to your employee’s
standard pay, type 1 in the [...] of standard pay field. If you
are paying leave in advance only, type 0.
c In the [...] of leave in advance field, type the number of
pay periods you are processing in advance.
d Click OK. The Select Pay Period window reappears.
When you include multiple pay periods in the one pay run,
employee pay details are adjusted accordingly. This includes
the calculation of entitlements, superannuation and PAYG
withholding amounts.
Paying leave in advance for more than one
employee You can process a separate pay for each
employee being paid leave in advance, or process a pay run
for all employees and, in the Select & Edit Employee’s Pay
window, exclude those employees not being paid in advance
from pay run.
NOTE :
2
Select the pay frequency you are processing.
„ If you are processing pays for all employees, click Process
all employees paid and select the pay frequency in the
adjacent field.
4
In the Payment date field, type the date on which you are
processing the pays.
Paying bonuses and commissions If you are
processing pays for bonuses or commissions outside your
normal pay period, select the Bonus/Commission pay
frequency. When you select this frequency, your employees’
standard pay details are cleared in the Select & Edit
Employee’s Pay window. Also note that you need to
manually calculate and enter tax for these amounts.
5
In the Pay period start field, type the first day of the pay
period.
6
In the Pay period end field, type the last date of the pay
period.
7
If you use timesheets, continue with ‘Task 2: [Optional]
Include employee timesheets’ on page 125.
If you are processing a pay for an individual employee, click
Process individual employee and type or select the
employee in the adjacent field. The pay frequency assigned
to the employee’s card is used in the pay run.
8
If you do not use timesheets, click Next and continue with
‘Task 3: Select and edit employee pays’ on page 125.
NOTE :
„
124
CHAPTER 7
PAYING YOUR EMPLOYEES
Task 2: [Optional] Include employee
timesheets
If you record employee hours on timesheets, the Select Pay
Period window lists employee timesheets for the specified pay
period. Initially, all timesheets are selected to be included in the
pay period.
Task 3: Select and edit employee pays
The Select & Edit Employee’s Pay window displays the standard
pay details and timesheet amounts (if applicable) for employees
who are paid according to the selected pay frequency.
Note that this option is only available if you have selected the
timesheets preference. See ‘Timesheets’ on page 121.
1
2
To change, view or exclude a timesheet:
If you want to...
You need to....
Exclude a timesheet
click in the select column (
Change the
timesheet details of
an employee
click the zoom arrow ( ) next to the
employee’s name and make the required
changes in the Enter Timesheets
window.
View the details of
unprocessed
timesheets
click Display Unprocessed Timesheets.
) next to it.
When you have finished, click Next to continue. The Select &
Edit Employee’s Pay window appears.
PROCESSING YOUR PAYROLL
1
If you want to exclude an employee from the pay run, click in
the select column ( ) next to the employee’s name.
2
If you want to view the pay details for all employees before
you record their paycheques, click Preview Pay Details. The
Payroll Verification report appears.
3
If you need to change the pay details for an employee, click
the zoom arrow ( ) next to the employee’s name. In the Pay
Employee window that appears, you can:
„ change the hours worked (see page 126)
„ record holiday and sick pay (see page 126)
„ record any other types of pay (see page 127)
„ assign job numbers to payroll category amounts (see
page 127)
„ change the employee’s bank account details (see
page 128).
125
To change hours worked for an hourly employee
To record holiday and sick pay
You may need to change the standard hours worked by an
employee if they are not being paid for a full standard pay period,
for instance, if they have only worked a portion of their usual
hours.
NOTE : Holiday and sick pay hours recorded on a timesheet If
you’ve entered holiday and sick hours on a timesheet, you don’t
need to follow this procedure.
Editing hours recorded on a timesheet You can edit an
employee’s timesheet hours in the Pay Employee window.
However, any timesheet adjustments you make here will not update
hours entered on timesheets, timesheet reports or, if you record
time-billing activities, activity slips.
NOTE :
1
2
126
1
In the Select & Edit Employee’s Pay window, click the zoom
arrow ( ) next to the employee’s name. The Pay Employee
window appears.
2
Type the number of sick or holiday hours in the Hours
column for the appropriate wage category and press TAB.
„ If you have set up this wage category to automatically
adjust the employee’s base pay details, the amount for this
wage category is calculated and the Base Hourly (or Base
Salary) wage category details are adjusted.
In the Select & Edit Employee’s Pay window, click the zoom
arrow ( ) next to the employee’s name. The Pay Employee
window appears.
Change the hours worked for the applicable wage categories
and press TAB. The payroll category amounts are calculated
automatically and displayed in the Amount column.
3
Click OK. The Select & Edit Employee’s Pay window
reappears.
4
Repeat from step 1 above for each employee whose hours
you want to change.
Automatically adjusting Base Hourly or Base Salary
amounts Before base pay details can be automatically
adjusted, you need to select the Automatically Adjust Base
Hourly or Base Salary Details option in the Wages
Information window for the holiday or sick pay payroll
category you are entering. For more information, see ‘Wages
Information window’ on page 111.
NOTE :
CHAPTER 7
PAYING YOUR EMPLOYEES
„
If you have not set up this wage category to automatically
adjust the employee’s base pay details, reduce the number
of hours allocated to the Base Hourly wage category or the
amount allocated to the Base Salary wage category by the
amount entered for the holiday or sick pay payroll
category.
3
If you want to record the details of the leave taken, click the
zoom arrow next to the leave category and enter the details
in the Leave Tracking Information window that appears.
4
Click OK. The Select & Edit Employee’s Pay window
reappears.
To assign jobs to payroll category amounts
Job numbers can be assigned to payroll category amounts to
track the wage expense of work performed. You can assign one
or more jobs to each payroll category.
1
In the Select & Edit Employee’s Pay window, click the zoom
arrow ( ) next to the employee’s name. The Pay Employee
window appears.
2
Type or select the job number in the Job column
corresponding to the payroll category.
3
If you want to assign multiple jobs to a payroll category:
a Click in the Job column corresponding to the appropriate
payroll category and then click the search icon ( ). The
Allocate Jobs window appears.
b Click in the select column ( ) next to each applicable job
and type the amount in the Amount column.
NOTE : Automatic adjustment is made to entitlement hours
balance When you record the transaction, the hours you
entered will be subtracted from the number of hours the
employee has accrued.
To record other types of pay
Other types of pay recorded on a timesheet If you’ve
entered other types of pay—such as sales commission and
bonuses—on a timesheet, you don’t need to use this procedure.
NOTE :
Before you enter these details, the wage categories you intend to
use should already be assigned to the employee. For information
on assigning a wage category to an employee, see ‘Entering
employee payroll information’ on page 117.
1
In the Select & Edit Employee’s Pay window, click the zoom
arrow ( ) next to the employee’s name. The Pay Employee
window appears.
2
In the Hours or Amount fields next to each appropriate wage
category, type the hours or amounts you want to record.
3
Click OK. The Select & Edit Employee’s Pay window
reappears.
PROCESSING YOUR PAYROLL
127
Task 4: Record employee pays
1
In the Select & Edit Employee’s Pay window, click Record to
record the pays.
Changing the details of a recorded pay If you need
to change a recorded pay, continue processing your payroll.
When you have finished processing, reverse or delete the
incorrect transaction and then process a new pay for the
individual employee. For more information on reversing or
deleting a transaction, see ‘Changing or deleting a transaction’
on page 194.
NOTE :
c Click OK. The Pay Employee window reappears.
4
Click OK. The Select & Edit Employee’s Pay window
reappears.
You can also assign a default job to an employee in the Standard
Pay section of the employee’s card. For more information, see
‘Entering employee payroll information’ on page 117.
2
If a confirmation window appears, click Continue.
3
When the pays are recorded, the Process Payments window
appears.
To change an employee’s bank account details
If you pay your employees electronically, you can change an
employee’s bank account details for this pay run.
128
1
In the Select & Edit Employee’s Pay window, click the zoom
arrow ( ) next to the employee’s name. The Pay Employee
window appears.
2
Click Banking Details and enter the required bank details in
the Banking Details window that appears.
3
Click OK. A confirmation message appears:
a If you want to update the employee’s bank details for all
subsequent pay runs, click Yes.
b If the change to bank details is for this pay only, click No.
4
Click OK. The Select & Edit Employee’s Pay window
reappears.
CHAPTER 7
PAYING YOUR EMPLOYEES
Task 5: Process payments
In the Process Payments window, you can:
5
Click in the select column (
printed.
process an electronic payment (see below)
6
create a spend money transaction to clear the account you
use to temporarily hold cash wage amounts (see page 130).
If necessary, click the zoom arrow ( ) to view more
information about a particular paycheque.
7
Click Print. The Print window appears.
8
Click Print or OK. The Process Payments window reappears.
„
print employee paycheques (see below)
„
„
If you want, you can perform these tasks later using the relevant
command centre function. For example, if you want to include
weekly and monthly payments in one electronic payment file,
process both pay frequencies and then click Prepare Electronic
Payments in the Payroll command centre to prepare the
combined payment file.
To print paycheques
1
2
3
4
Advanced Filters. For more information, see ‘Advanced
filters’ on page 215.
) next to the paycheques to be
To process an electronic payment
NOTE : MYOB M-Powered Payments You can also record
electronic payments using MYOB M-Powered Payments. For more
information about MYOB M-Powered Payments, see ‘MYOB
M-Powered Services’ on page 18.
In the Process Payments window, click Print Paycheques.
The Review Cheques Before Printing window appears.
1
In the Process Payments window, click Prepare Electronic
Payments. The Prepare Electronic Payments window
appears.
If you use customised forms, type the number of the first
cheque in the Number of First Cheque in Printer field.
2
Type how many copies you want to print in the Print [...]
Copies of Each Selected Cheque field.
In the Pay From Account field, select the bank account from
which you make electronic payments.
3
Select Pay Employees from the Select Payment By list, if it is
not already selected.
If you want to change the type of information you are going
to print or the customised form it will be printed on, click
PROCESSING YOUR PAYROLL
129
4
In the Bank Processing Date field, type the date you want
the bank to process the pays. Unprocessed pays up to and
including this date appear.
5
[Optional] Record the purpose of the transaction in the
Journal Memo field.
6
Click in the select column ( ) next to the payments you
want to include in the electronic payment.
7
Click Bank File. A message appears stating that the
transaction will be recorded before the bank file is created.
8
Click OK. The Save As window appears.
NOTE : Preparing multiple electronic payment files When
you save the electronic payment file, it is given a default name
and is formatted as an .ABA file. If you prepare multiple
electronic payment files, you should rename each file (keeping
the .ABA file extension), so that you do not overwrite an
unprocessed file.
9
10
Choose where you want to save the electronic payment file
and click Save. The Prepare Electronic Payments window
reappears.
Click Close. The Process Payments window reappears.
To create a Spend Money transaction to record cash
wages
1
130
In the Process Payments window, click Spend Money. The
Spend Money window appears with the details of total cash
wages paid and the default clearing account you use for cash
wages.
2
In the Pay from Account field, select the bank account from
which you withdrew the cash wage amount.
3
Click Record. The Process Payments window reappears.
Task 6: Print/email pay slips
You can provide employees with details of their pay by printing
or emailing pay slips. You can print or email pay slips from the
Print Employee Pay Slips window.
To access this window, click Next in the Process Payments
window.
NOTE : If you pay employees by cheque If you pay employees by
cheque, and you printed a paycheque in Task 5, the pay details for
these employees are already included on their pay slip. You do not
need to do this step.
CHAPTER 7
PAYING YOUR EMPLOYEES
To print pay slips
1
Click Print/Email Pay Slips. The Review Pay Slips Before
Delivery window appears.
2
Click the To Be Printed tab.
3
Type the number of pay slips you want to print per employee
in the Print field.
4
If you want to customise or filter the information, or to
change the type of form it will be printed on, click Advanced
Filters. For more information, see ‘Advanced filters’ on
page 215.
5
Click in the select column (
printing pay slips for.
6
Click Print.
7
If you have completed processing your employee’s pay, click
Finish to exit the Process Payroll assistant.
3
Click in the select column (
emailing payslips to.
) next to the employees you are
4
If you want to change an employee’s email address, select the
employee’s name and type a different address in the Email
Address field.
5
Type the subject title and message of the email or accept the
default subject and message. If you want to change the
default message, click Email Defaults and make the changes
as appropriate.
6
If you want to customise or filter the information, or to
change the type of form that will be sent, click Advanced
Filters. For more information, see ‘Advanced filters’ on
page 215.
7
Click Send Email.
8
If you have completed processing your employee’s pay, click
Finish to exit the Process Payroll assistant.
) next to the employees you are
To email pay slips
1
Click Print/Email Pay Slips. The Review Pay Slips Before
Delivery window appears.
2
Click the To Be Emailed tab.
PROCESSING YOUR PAYROLL
131
Payroll liabilities
A payroll liability is an amount withheld from an employee’s pay
that must be paid to an appropriate authority or agency, for
example, deductions, expenses, superannuation payments and
taxes.
Your payroll liabilities are recorded when you process your
payroll. When you need to pay these amounts, you can use the
Pay Liabilities window.
2
In the Pay from Account field, type or select the account you
are making the payment from.
3
In the Supplier field, select the card for the authority or
agency to whom the withheld amount is being paid.
4
Select the type of liability you are paying from the Liability
Type list.
If you use BASlink to record your PAYG withholding payments,
press F1 in the BAS Information window for information on how
to set up BASlink for PAYG withholding.
MYOB M-Powered Superannuation If you pay your
employee’s superannuation using M-Powered Superannuation, you
do not need to pay your superannuation liabilities through the Pay
Liabilities window.
NOTE :
To pay your payroll liabilities
1
By default, all payroll categories for the selected liability type
are included in the payment.
5
If you selected Superannuation in the Liability Type field,
make a selection in the Sort By field.
6
If you do not want to include all payroll categories:
a Click the search icon ( ) in the Payroll Categories field.
The Select from list window appears.
b Deselect categories by clicking in the select column next to
each payroll category you want to exclude.
c Click OK. The Pay Liabilities window reappears.
7
In the Dated From and the Dated To fields, enter the period
in which the payroll liabilities were withheld.
Go to the Payroll command centre and click Pay Liabilities.
The Pay Liabilities window appears.
The payroll liabilities withheld during the specified period
appear in the Payroll Category section.
8
Click in the select column next to the payroll liability amounts
you want to include with this payment.
The total of the selected payroll liabilities appears in the Total
Payment fields.
9
132
Click Record.
CHAPTER 7
PAYING YOUR EMPLOYEES
Superannuation reporting
Before you can calculate, report and pay superannuation
amounts for employees, you need to:
„
create the superannuation payroll categories you need (see
‘Creating payroll categories’ on page 110)
„
create superannuation funds for your employees (see below)
„
record employee superannuation information (see step 8 in
‘Enter superannuation information’ on page 118).
NOTE : Choice of superannuation fund To meet your choice of
superannuation fund obligations, you need to provide eligible
employees with a Standard Choice Form and then make
contributions to their nominated complying fund. You can print the
Standard Choice Form from an employee’s card (see step 8 in ‘Enter
superannuation information’ on page 118). For more information
about your obligations, contact the ATO.
2
Click New. The Edit Superannuation Fund window appears.
3
Type the name of the superannuation fund in the
Superannuation Fund Name field and press TAB.
When you have processed pays for your employees, you can
manage your superannuation obligations by viewing
superannuation reports and by recording superannuation
payments in the Pay Liabilities window. For information on
recording superannuation payments, see ‘Reviewing payroll
liabilities’ on page 142.
To create a superannuation fund
1
Go to the Lists menu and choose Superannuation Funds.
The Superannuation Fund List window appears.
SUPERANNUATION REPORTING
133
4
If you have the superannuation fund’s membership number,
type this number in the Employer Membership # field. This
is a unique employer identification number provided by some
superannuation funds when you register an employee or
group of employees.
5
Type the contact details for the fund in the Contact Phone
Number and Fund Website fields.
6
Click OK. The superannuation fund now appears in the
Superannuation Fund List window.
7
Repeat from step 2 on page 133 for each additional
superannuation fund you need to create.
8
Click Close.
Reportable Employer Super
Contributions (RESC)
The ATO requires that some superannuation contributions that
exceed the superannuation guarantee amount of 9% (for
example, salary sacrifice and some salary packaged amounts), be
reported on payment summaries. These reportable contributions
need be set up as separate superannuation payroll categories, so
that they are easily reported when preparing payment
summaries and the electronic EMPDUPE file you send to the ATO.
For more information about how to create and edit payroll
categories, see:
„
‘Creating payroll categories’ on page 110
„
‘Editing payroll categories’ on page 116.
Troubleshooting superannuation
calculations
The calculation of superannuation can be affected by the
following:
„
exclusions and threshold amounts entered in the
superannuation payroll category setup. See ‘To check the
superannuation exclusions and threshold amounts’ below
„
manual changes to the employee’s superannuation or gross
wages amounts in the Pay History section of the employee’s
card. For more information on the Pay History section, see
‘Viewing pay history for the current year’ on page 140.
To check the superannuation exclusions and threshold
amounts
1
Go to the Payroll command centre and click Payroll
Categories. The Payroll Category List window appears.
2
Click the Superannuation tab.
3
Select the superannuation payroll category that has been
assigned the Superannuation Guarantee (expense)
contribution type.
4
Click Edit. The Superannuation Information window
appears.
5
Check the amount entered in the Exclusions field.
When you prepare payment summaries, you need to select the
superannuation payroll categories that are reportable. For more
information about preparing payment summaries, see ‘Prepare
payment summaries’ on page 267.
The exclusions amount is the amount by which the eligible
wage is reduced before the superannuation is calculated.
For example, an employee with a gross wage of $1000 per
month and an exclusion of $100 will have the
superannuation calculated only on the amount of $900.
For detailed information about Reportable Employer Super
Contributions, contact the ATO or your accountant.
6
134
Change the exclusions amount if the incorrect amount has
been entered.
CHAPTER 7
PAYING YOUR EMPLOYEES
7
no superannuation will be calculated because the employee
has earned less than the minimum threshold for the month.
Check the amount entered in the Threshold field at the
bottom of the window.
For the second pay of the month superannuation is calculated
because the employee is paid $400, which brings the total
gross amount paid for that month to $800 (that is, $350
more than the threshold). Superannuation is calculated on
$800.
The threshold amount determines whether superannuation
should be calculated for a particular pay.
For example, if the threshold is $450.00 and the employee is
paid $400.00 gross per week. For the first pay of the month
8
Change the threshold amount if the incorrect amount has
been entered.
9
Click OK, then click Close to return to the Payroll command
centre.
2
Click Set Up Payroll Tax. The Payroll Tax Information
window appears.
3
Select your state or territory.
4
Enter your Payroll Tax Registration Number and Payroll Tax
Group Number.
Payroll tax reporting
If you are liable to pay state or territory payroll tax, you can
calculate your payroll tax amounts using the payroll information
in your software. If you are unsure about whether you are liable
to pay state or territory payroll tax, contact your state or territory
revenue office.
Before you can report payroll tax, you need to set up your payroll
tax details. After you process pays for your employees, you can
run a report to display the payroll tax due for a period. Note that
you can only set up payroll tax for one state or territory.
For more information about calculating your payroll tax liability,
see ‘Report and pay payroll tax’ on page 258.
To set up state or territory payroll tax details
1
Go to the Setup menu and choose General Payroll
Information. The General Payroll Information window
appears.
PAYROLL TAX REPORTING
135
Enter the threshold details and Payroll Tax rate for your
selected state or territory.
5
In the list at the bottom of the window, select the Payroll
Categories to be included as taxable wages. Amounts
recorded against these categories will be included in payroll
tax calculations.
6
If you are unsure about taxable wage calculations If
you are unsure which payroll categories should be included as
taxable wages, contact your state or territory revenue office.
NOTE :
7
After you have entered your payroll details, click OK.
Termination payments
Before you process a termination payment for an employee, you
need to calculate any termination amounts you owe the
employee—for example, accrued holiday pay—in addition to
processing their final standard pay.
Before you begin Check the relevant award or
employment contract for exact details of what needs to be paid to
the employee on termination.
NOTE :
Do the following tasks to process a termination payment.
Task
1
136
See
Process the final standard pay
below
2
Determine any outstanding entitlements
below
3
Create payroll categories for termination
payments
page 137
4
Exclude termination payroll categories from
superannuation calculation
page 138
5
Record the final termination pay
page 139
6
Enter termination details
page 139
7
Prepare ETP summary
page 139
Task 1: Process the final standard pay
Process the employee’s standard pay for the current pay period.
Note, this may not be for a complete pay period, so you may
need to adjust their hours or salary and the tax withheld. For
more information on processing pays, see ‘Processing your
payroll’ on page 123.
Task 2: Determine any outstanding
entitlements
1
Go to the Reports menu and select Index to Reports. The
Index to Reports window appears.
2
Click the Payroll tab, and then select the Entitlements
Balance Detail report.
3
Click Customise. The Report Customisation - Balance
Detail window appears.
4
In the Employees field, type or select the employee’s name.
CHAPTER 7
PAYING YOUR EMPLOYEES
5
6
Select Lifetime in the Period field. This ensures that the
report shows the employee’s entitlement balance not only for
the current year, but also any amounts carried over from
previous payroll years. This is particularly important for
holiday leave as it is carried over from previous years.
Click Display. The Report Display window appears,
displaying the entitlements owing to the employee.
Task 3: Create payroll categories for
termination payments
Termination payments are normally taxed at different rates and
may not accrue superannuation. Also, different types of
payments are reported separately on ETP payment summaries.
You may need to create several new payroll categories as part of
your ETP preparations in order to report payments correctly.
Calculations required to make employment termination
payments Consult your accountant or visit the ATO at
ato.gov.au/businesses for advice on how to calculate ETP and bona
fide redundancy payments.
NOTE :
„
„
If the employee whose services you are terminating is entitled
to a redundancy payment, you may need to pay an
employment termination payment (ETP) and a bona fide
redundancy payment. You will need to set up payroll
categories for these payments, such as ETP and ETP tax.
If the employee whose services you are terminating has
unused holiday pay, you will need to create a wage category
for unused holiday pay if one does not already exist.
TERMINATION PAYMENTS
Payroll categories for Lump Sum Payment A payments
When reporting Lump Sum Payment A amounts on payment
summaries, you now also need to report the reason for the
employee's termination as part of reporting this amount.
Terminations can be one of two types, redundancy or
termination. A redundancy type includes bona fide redundancy,
approved early retirement or invalidity payments. A termination
type includes all other termination reasons (such as resignation).
To report the termination payment type, you need to create a
termination payroll category for each amount that will be
included as part of a Lump Sum Payment A amount. When
creating a category, give it a name that identifies the payment
type. For example, if you need to create a wage category for
unused holiday pay for a bona fide redundancy payment, use a
name such as ‘Unused Holiday Pay (R)’, where (R) indicates a
redundancy type.
Later, when you prepare the payment summary, you need to link
each Lump Sum Payment A payroll category to a relevant Lump
Sum Payment A field (redundancy or termination) in the
Payment Summary Fields step of the Payment Summary
Assistant.
To create a termination payroll category
1
Go to the Payroll command centre and click Payroll
Categories. The Payroll Category List window appears.
2
Click the Wages tab.
3
Click New. The Wages Information window appears.
4
Type a name for the category in the Wages Name field.
Lump Sum Payment amounts If you are creating a
payroll category to record a Lump Sum Payment amount, give
the payroll category a name that identifies the payment type.
For more information, see ‘Payroll categories for Lump Sum
Payment A payments’ above.
NOTE :
137
5
Choose the type of wages—Salary or Hourly—according to
the type of payment: Hourly for unused holiday pay, Salary
for ETP amounts, etc.
e Click OK and then OK again. The Payroll Category List
window reappears.
10
138
6
Click Employee. The Linked Employee window appears.
7
In the select column (
leaving.
8
Click OK and then OK again. The Payroll Category List
window reappears with the new payroll category in the list.
9
If you are creating a payroll category to pay an entitlement
balance (such as unused holiday pay), and the payroll
category used to accrue the entitlement is set up to calculate
leave based on a percentage of gross hours, you need to
exclude the new payroll category from the entitlement
accrual calculation.
a Click the Entitlements tab. The list of entitlement payroll
categories appears.
b Select the payroll category used to calculate the accrual,
for example, Holiday Entitlement, and click Edit. The
Entitlements Information window appears.
c Click Exempt. The Entitlements Exemptions window
appears.
d In the select column ( ), click next to the payroll category
name to exclude any hours entered for this payroll
category from being included in the entitlement accrual
calculation.
Repeat from step 2 on page 137 for each required
termination payroll category.
), click next to the employee who is
Task 4: Exclude termination payroll
categories from superannuation
calculation
1
Go to the Payroll command centre and click Payroll
Categories. The Payroll Category List window appears.
2
Click the Superannuation tab and select a superannuation
payroll category that is linked to the employee’s pay.
3
Click Edit. The Superannuation Information window
appears.
4
Click Exempt. The Superannuation Exemptions window
appears.
5
Click in the select column ( ) next to the termination payroll
categories you want to exclude from the superannuation
calculation.
6
Repeat from step 2 above for each required termination
payroll category.
7
Click OK to return to the Superannuation Information
window.
CHAPTER 7
PAYING YOUR EMPLOYEES
Task 5: Record the final termination pay
Task 6: Enter termination details
1
Go to the Payroll command centre and select Process
Payroll. The Select Pay Period window appears.
2
Click Process individual employee and type or select the
employee you want to process in the adjacent field.
1
3
Click Next. The Select & Edit Employee’s Pay window
appears.
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the zoom arrow ( ) next to the employee’s name. The
Pay Employee window appears.
Select the employee who is being terminated and click Edit.
The Card Information window appears.
3
Click the Payroll Details tab.
4
Type the date of termination in the Termination Date field
and press TAB.
5
A message appears warning you that all entitlement balances
will be cleared for the employee. Click OK. A zoom arrow
appears next to the Termination Date field.
6
Click the zoom arrow. The Termination Details window
appears.
7
Complete the termination details:
8
Click Record. The Card Information window reappears.
4
5
6
If you are including unused entitlements (as calculated in
‘Determine any outstanding entitlements’ on page 136),
type the total outstanding entitlement hours in the Hours
column for each required wage category.
If you are including a redundancy payment, include the ETP,
ETP tax or bona fide redundancy payments in the Amount
column for each required payroll category. Consult your
accountant for advice on how to calculate these payments.
Your accountant will also tell you how much extra tax should
be withheld. You will need to manually include this extra tax.
Once you have finalised the employee’s termination pay,
including leave entitlements and redundancy payments, you
need to enter details of their termination.
CAUTION : Tax on gross wages Gross wages are taxed as if
they were all earned in that pay period. If the pay includes
termination items, the tax calculated may be incorrect and need
adjusting.
7
Click OK. The Select & Edit Employee’s Pay window
reappears.
8
Click Next to record the termination pay.
9
Complete the remaining tasks in the Process Payroll
assistant.
Task 7: Prepare ETP summary
At the end of the payroll year, you will need to process payment
summaries for any ETPs that occurred that payroll year. For more
information, see ‘Prepare payment summaries’ on page 267.
TERMINATION PAYMENTS
139
Reviewing payroll information
posted to the accounts. Instead, make adjusting entries on the
employee’s next pay.
The following tools can help you manage your payroll.
Tool
See
Pay history
View an employee’s pay history in their
employee card.
below
Payroll reports
for previous
financial years
Run reports containing prior year payroll
details.
page 141
Entitlement
balance
View an employee’s entitlement balance
in their employee card.
page 141
Analyse Payroll
window
Use the Analyse Payroll window to view
a summary of an employee’s payroll data.
It can help you detect possible
inaccuracies in the amounts you’re
paying to, and deducting from, your
employees.
page 142
Review payroll
liabilities
Use payroll liability reports to view payroll
details.
page 142
Find
Transactions
window
Use the Find Transactions window to
search for an account, card or payroll
category.
page 192
Changing an employee’s pay history on their employee card can
also affect the calculation of payroll liabilities, such as
superannuation.
To view an employee’s pay history
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the Employee tab and select the employee whose pay
history you want to view.
3
Click Edit. The Card Information window appears.
4
Click the Payroll Details tab.
5
Click Pay History. The Pay History section displays the totals
of each payroll category for the specified month, quarter, or
year to date.
6
Select a pay history period from the Show Pay History for
list.
Viewing pay history for the current year
Every time you process an employee’s pay, the amounts from
that payment are recorded in the employee’s pay history.
The Pay History section of an employee’s card is used to enter
the employee’s pay history when you are setting up payroll and,
later, to review their pay history.
If you’ve paid an employee the wrong amount, don’t attempt to
correct it by adjusting their pay history. Altering an employee’s
pay history does not affect the original pay record or the amounts
140
CHAPTER 7
PAYING YOUR EMPLOYEES
Viewing pay history for previous years
If you selected the Keep Paycheques from Prior Financial Years
option when you started a new financial year, the following
reports can be used to view prior year payroll details.
„
Payroll Register Summary
„
Payroll Register Detail
„
Superannuation Accruals by Category
„
Superannuation Accruals by Fund Summary
„
Superannuation Accruals by Fund Detail
„
Employee Superannuation Advice Summary
„
Employee Superannuation Advice Detail
„
Payroll Summary
„
Entitlement Balance Summary
„
Entitlement Balance Detail
To view an employee’s entitlement balances
NOTE : Only carry-over balances can be edited You can only edit
the employee’s carry-over entitlement balances in this window. If
you need to edit the employee’s entitlement balance for the current
payroll year, adjust the entitlement accrual when processing the
employee’s pay in the Process Payroll Assistant.
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the Employee tab and select the employee. Click Edit.
The Card Information window appears.
3
Click the Payroll Details tab.
4
Click Entitlements. The Entitlements section displays the
total number of hours an employee is entitled to take as sick
and holiday pay.
5
If necessary, type the entitlement hours carried over from a
previous period in the Carry Over column next to the
entitlement category.
6
Click OK, then click Close to return to the Card File
command centre.
Note that you can only view historical details in these reports for
the financial years you have selected to keep paycheques from.
Viewing an employee’s entitlement
balances
The Entitlement section in the Payroll Details tab of an
employee’s card displays the entitlement amounts that have
been carried over from the previous payroll year, the entitlement
amounts for the year to date, and the total entitlement amounts
owing to the employee.
For example, an employee may have 40 hours of accrued holiday
hours carried over from the last payroll year. In the current
financial year, the employee has accrued another 10 hours, but
has taken 8 hours of holiday leave. Therefore, 2 hours will be
displayed in the Year-to-Date column and the Total column will
display 42 hours.
REVIEWING PAYROLL INFORMATION
141
Analysing payroll
Reviewing payroll liabilities
The Analyse Payroll window provides details of payroll
information and can help you detect possible inaccuracies in the
amounts you are paying to and withholding from your
employees.
The payroll liability reports show which payroll liability amounts
have been withheld from employee payments, and which
amounts have been paid, for any given period.
1
Go to the Payroll command centre and click Analysis. The
Analyse Payroll window appears.
2
Enter the employee’s name and the pay period you want to
analyse.
„ The Payroll Summary section at the left of the window
shows totals for the selected pay period.
„ The Payroll Details section on the right of the window
show the wages, deductions, tax, entitlements, and
employer expenses that have been recorded for the
selected pay period.
„
Payroll Liabilities by Category report—lists payroll liability
amounts that have been withheld.
„
Liabilities Payment Register report—lists payroll liability
amounts that have been paid.
To view superannuation reports
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Click the Payroll tab. There are seven reports specific to
superannuation available.
For information on displaying, customising and printing your
reports, see ‘Customising reports’ on page 206.
142
CHAPTER 7
PAYING YOUR EMPLOYEES
Billing for time
The time billing feature allows you to track the time spent by employees and suppliers in completing work for clients and customers. You can also
track incidentals (such as items used) to complete the work.
Overview
record costs such as entertainment, which generally cannot be
charged to the customer.
Time billing is suitable for businesses that predominantly sell time
(such as accountants and lawyers) and businesses that sell both
time and items (such as interior designers and mechanics).
Activities can be entered individually, or grouped together on
activity slips. You can then generate time billing invoices, ready
to send to your customers. Any items that you have sold to your
customers can also be included with the activities in a single time
billing invoice. You can also record the hours an employee works
on an activity when you create an activity slip, and then include
these hours in the employee’s pay.
You can specify billing rates based on the activity, such as
consulting at $40 per hour and photocopying at 10 cents per
copy. You can also specify billing rates based on an hourly
charge-out rate for a particular employee or customer. For
example, the employee John Smith’s hourly consulting rate may
be $60 per hour and subcontractor Acme Industries’ charge-out
rate may be $80 per hour. Similarly, the customer My Town
Realty may be charged at a rate of $50 per hour because they are
regular customers.
Time billing reports can be filtered to give you just the
information you want. These reports monitor how you and your
staff spend your time and whether it is spent profitably.
An activity can be chargeable or non-chargeable. The ability to
track non-chargeable activities can be useful if you want to
143
BILLING FOR TIME
8
Setting time billing preferences
There are four preferences that should be set before you start.
Preference
Description
Time billing
units
Set this preferences if you want to bill units of time
of less than an hour.
Special time billing units allow you to track time in
units of 1, 6, 10, 12, 15 or 30 minutes.
The unit of time you specify here will be the default
billing unit when you create hourly activity slips.
For example, you can specify six-minute time
billing units, where an hour would be 10 billing
units of time.
Round
timer-calculated
time
144
This preference determines how you want elapsed
time to be rounded. If you want to use the activity
slip timer to calculate billable hours, set how units
of time will be rounded.
You can round up to next, down to previous or to
nearest. For example, if you have chosen up to
next and are using 30-minute billing units, 10
minutes would be rounded up to 30 minutes on an
activity slip. As another example, if you have
chosen to nearest and are using 30 minute billing
units, 15 minutes would be rounded up to 30
minutes on an activity slip.
If you are not using a special billing unit of
time—that is, you are billing in hours—you can
specify the rounding increment. For example, if
you want to round the actual time you clock using
the timer up to the next minute, choose up to next
and type 1 in the Minute Increment field. That
way, if you clock 21 minutes and 32 seconds of an
activity, 22 minutes will be entered automatically in
the Units field.
Note that if you specify both a special time billing
unit and a rounding rule, the Minute Increment
field here is redundant and, as such, is not
displayed.
Preference
Description
Include items
on time billing
invoices
If you selected the I Include Items on Time Billing
Invoices preference, you can include both
activities and items on your time billing invoice.
Note that you can only include items for which you
have selected the I Sell This Item option in the
Item Information window. See ‘Creating items’ on
page 155.
Timesheets
This preference allows you to include time billing
and activity slip information in an employee’s pay,
and to create activity slips when you record
employee hours using a timesheet.
To set time billing preferences
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
Click the System tab. The preferences that apply to time
billing are the last four shown in the window.
3
Set the four preferences according to how you want to
conduct time billing.
CHAPTER 8
BILLING FOR TIME
Setting billing rates
You can set billing rates that will automatically appear when you
create an activity slip. The billing rate can also be set for a
customer, employee, supplier or for the activity itself. You can still
override these rates when you create the activity slip.
For example, for an activity such as the time spent photocopying,
you might use a flat rate for all customers, in which case you
would use the activity’s billing rate. For other activities, you might
charge the customer according to the employee who performed
the activity, the billing rate depending on factors such as the
expertise and experience of the employee.
To set a billing rate for an activity
You can set up a billing rate for each activity. This will apply
regardless of the customer you are billing, or the employee or
supplier who performed the activity.
The billing rate for an activity is set in the Activity Information
window. See ‘Creating activities’ on page 146.
To set a billing rate for a customer
You can set up billing rates for customers on their cards. This
option is useful if you perform the same activities for multiple
customers and want to charge each customer a different rate.
1
Display the Card Information window for the relevant
customer and click the Selling Details tab.
2
In the Customer Billing Rate field, type the hourly billing
rate, excluding tax, for the customer.
SETTING BILLING RATES
3
Click OK.
To set a billing rate for a supplier or employee
You can set a billing rate for a supplier or an employee. This
option allows you to bill an activity at different rates, according to
the employee or supplier performing the activity. You can also
track the costs associated with having the activity performed.
This is particularly useful if you are subcontracting work to a
supplier.
1
Display the Card Information window of the supplier or
employee. Then do the following:
„ Supplier cards—click the Buying Details tab.
„ Employee cards—click the Payroll Details tab and then
click Time Billing.
145
2
In the Supplier Billing Rate field or the Employee Billing
Rate field, type the hourly billing rate, excluding tax, for the
supplier or employee.
3
In the Cost per Hour field, type the hourly cost to you of
having the supplier or employee perform the activity.
4
Click OK.
3
In the Profile view, enter an ID for the activity in the
Activity ID field and press TAB.
Creating activities
The term activity is used to describe a task or service provided by
your business for which you can track costs and bill customers
using time billing invoices. Activities are primarily defined by their
type—hourly or non-hourly—and whether they are chargeable
or non-chargeable.
To create an activity
146
1
Go to the Time Billing command centre and click Activities
List. The Activities List window appears.
2
Click New. The Activity Information window appears.
CHAPTER 8
BILLING FOR TIME
4
In the Activity Name field, type a name for the activity.
5
In the Description field, type a description of the activity.
6
If you want the description of the activity (rather than the
activity name) to appear on time billing invoices, select the
Use Description on Sales option.
7
Select the type of activity (Hourly or Non-hourly) and the
status (Chargeable or Non-chargeable).
For this type
And this status
Do this...
Hourly
Chargeable
Choose the billing rate you want
to use. The rate is the price you
charge for one unit of the activity.
You can:
• use the rate you set up on the
employee or supplier card
• use the rate you set up on the
customer card
• type a rate to apply to this
activity only by entering a rate
in the Activity Rate field.
Hourly
Non-Chargeable
Go to step 10.
Non-hourly
Chargeable
Enter a unit of measurement in
the Unit of Measurement field
and an activity rate in the Activity
Rate field.
Non-hourly
Non-Chargeable
Type the unit of measurement in
the Unit of Measurement field
and then go to step 10.
CREATING ACTIVITIES
The default unit of measurement for hourly activities is Hour.
If you specified a special billing unit of time in the System
view of the Preferences window, this field will still be
displayed as Hour, but time will be billed according to the
special billing unit.
8
In the Income Account field, type or select the account you
want to use to track the income you receive for this activity.
9
In the Tax Code When Sold field, type or select the tax code
that you want to appear as the default when you create a
sales invoice for this activity.
10
Click OK. The new activity will now be listed in the Activities
List window.
To change, inactivate or delete an activity
„
To change details of an activity, see ‘Changing a record’ on
page 186.
„
To inactivate an activity, see ‘Inactivating or reactivating a
record’ on page 186.
„
To remove an activity from your records, see ‘Deleting a
record’ on page 187.
147
Creating activity slips
Activity slips are used to record time-based activities performed
for a customer and form the basis for the invoices that you send
that customer.
Units refers to time billing units The Units field shows
time billing units as you have set them up in the System tab of
the Preferences window. Therefore, one billable unit of 15
minutes will need to be entered as four billable units to make
one hour.
NOTE :
You can invoice the full amount for the activity or invoice just part
of the amount, leaving the balance for a later date.
You can create an activity slip in three ways.
„
Create a single activity slip. This allows you to enter the most
detail about the activity slip.
„
Create multiple activity slips. You can enter multiple activity
slips at once, while not entering as much detail for each.
„
Create a timesheet. You can enter the hours per day an
employee spends to complete work for clients and customers,
while automatically creating an activity slip. For more
information, see ‘Timesheets’ on page 121.
You can also create a timesheet entry by assigning an hourly
payroll category to an activity slip.
When you create an activity slip, you can select two cards—one
for the employee or supplier who performed the activity for your
company and the other for the customer for whom your
company performed the activity. If you are creating an activity
slip for a chargeable activity, you must enter both cards.
If you click the Multiple Activity Slips tab while
creating an activity slip and you have entered the minimum
required information in the Activity Slip view, the activity slip is
automatically recorded.
NOTE :
4
In the Adjustment fields, enter any adjustments to the hours
or the amount of the activity, or both. You need to enter
adjustment units or amounts as negative numbers if you want
to reduce hours or an amount.
5
In the Already Billed field, type any hours or amounts already
billed.
To create an activity slip
148
1
Go to the Time Billing command centre and click Enter
Activity Slip. The Enter Activity Slip window appears.
2
Click the Activity Slip tab.
3
Enter details about the activity, such as employee name,
customer name, activity slip ID number and the number of
units to be charged.
For example, if you have partially billed the customer on an
invoice for this activity, either type the number of hours
already billed (and the amount field will automatically
update), or type the amount they have already been billed for.
CHAPTER 8
BILLING FOR TIME
Your entry is subtracted from the hours and amounts in the
Billable field. The units and amounts that you haven’t billed
appear in the Left to Bill fields.
NOTE : Billing an activity slip ‘Billing’ an activity slip means
recording a time billing invoice for the activity slip. If you enter
units or an amount in the Already Billed fields of the Enter
Activity Slip window, the amount won’t appear in the sales
journal or in the activity’s history. It will only be recorded for the
activity slip.
6
[Hourly activities only] If you pay the employee based on the
activity performed:
a Select the Include Hours in Employee’s Pay option.
b Enter an hourly wage payroll category in the Payroll
Category field.
To use the timer, you must keep the Enter Activity Slip window
open until the activity is complete. You can still use other
software or access other windows during this time.
1
Go to the Time Billing command centre and click Enter
Activity Slip. The Enter Activity Slip window appears.
2
Enter the employee or supplier name, date and customer
name.
3
In the Activity field, type or select an hourly activity ID
number. The timer fields appear at the bottom of the
window.
4
Click Start to start the timer. If you don’t enter a start time in
the Start Time field, your computer’s current system time
appears, and the timer starts incrementing the time in the
Elapsed Time field.
The activity hours (units) recorded for this activity are
assigned to this wage category on the employee’s timesheet.
Entering a start time that is before the current system
time If you enter a start time that is before the current system
time, the difference will be added to the elapsed time measured
by the timer. For example, if you entered 8:00 a.m. in the Start
Time field and then clicked Start at 9:00 a.m., 1:00:00 will
appear in the Elapsed Time field and the time calculated by the
timer will be added to that amount.
NOTE :
NOTE : Activity hours are assigned to timesheets on the
activity slip date When you record the activity slip, the
activity hours are assigned to the employee’s timesheet on the
date entered on the activity slip. If you want to record activity
hours over a number of days or pay periods, you need to record
the hours in the Enter Timesheets window (see ‘Timesheets’ on
page 121).
7
Click Record. The activity slip is now recorded.
If you entered a chargeable activity on the activity slip, the
activity becomes available for billing in the Prepare Time
Billing Invoice window.
To create an activity slip using the timer
The Enter Activity Slip window has a timer that allows you to
record the time you spend performing an activity. When you
have completed the activity, the information is already in the
Enter Activity Slip window, eliminating extra data entry.
The timer appears only on activity slips for hourly activities.
CREATING ACTIVITY SLIPS
Leave the Enter Activity Slip window open as you perform
the activity.
5
When you have completed the activity or if you want to pause
the timer, click Stop. The current system time appears in the
Stop Time field. The number of billing units corresponding to
the elapsed time appears automatically in the Units field.
You can edit the start and stop times if you want. The entries
in the Actual Units and Elapsed Time fields will be updated
automatically.
You can round your timer entries in the Units field
automatically. See ‘Setting time billing preferences’ on
page 144.
149
6
If you want to resume timing an activity, click Start again. The
entry in the Stop Time field will be cleared. The timer will
continue incrementing, starting from your current elapsed
time.
7
[Hourly activities only] If you pay the employee based on the
activity performed:
a Select the Include Hours in Employee’s Pay option.
b Enter an hourly wage payroll category in the Payroll
Category field.
The activity hours (units) recorded for this activity are
assigned to this wage category on the employee’s timesheet.
Activity hours are assigned to timesheets on the
activity slip date When you record the activity slip, the
activity hours are assigned to the employee’s timesheet on the
date entered on the activity slip. If you want to record activity
hours over a number of days or pay periods, you need to record
the hours in the Enter Timesheets window (see ‘Timesheets’ on
page 121).
of detail you can enter on the activity slip, you can view any
activity slip in the Activity Slip view and enter more detail at a
later stage.
NOTE : The Multiple Activity Slips view can’t be used to add
activity hours to a timesheet In the Multiple Activity Slips view,
you can’t choose to include an activity’s hours on a timesheet.
To create multiple activity slips
1
Go to the Time Billing command centre and click Enter
Activity Slip. The Enter Activity Slip window appears.
2
Click the Multiple Activity Slips tab.
3
In the Employee or Supplier field, type or select the name of
the employee (or supplier) performing the activity. Any
activity slips you have already created for the employee or
supplier are listed, with each line representing a single activity
slip.
4
On the first blank line, enter details of an activity.
5
Press TAB or click Record to record the activity slip and move
the insertion point to the next line where you can begin
creating a new activity slip.
NOTE :
8
When you have completed the activity, click Record.
If you entered a chargeable activity on the activity slip, the
activity becomes available for billing in the Prepare Time
Billing Invoice window.
Activity slips are recorded as you create them Once
you have entered an activity slip and pressed TAB to move to the
next line, the activity slip is recorded. Even if you click Cancel
after moving to the next line, the first activity slip will be still
recorded. A zoom arrow (
) displayed next to an activity slip
indicates that the activity slip has been recorded.
NOTE :
To reset the timer
™ Click Clear at any time to clear the Elapsed Time, Start Time,
Stop Time and Units fields.
Creating multiple activity slips
In addition to being able to create single activity slips, you can
also create multiple activity slips at once. In the Multiple Activity
Slips tab of the Enter Activity Slip window, each line in the list
represents one activity slip. Although this view limits the amount
150
6
Repeat from step 3 to step 5 for each activity slip you want to
create. When you have recorded all the activity slips you
want, click Cancel to close the window.
CHAPTER 8
BILLING FOR TIME
Changing and reviewing activity slips
If you want to review, edit or delete an activity slip, follow the
relevant procedures below.
To review an activity slip
1
Go to the Time Billing command centre and click Activity
Log. The View Activity Log window appears.
2
Enter the name of the employee or supplier who performed
the activity and, if you know it, the date range within which
the activity was recorded. All activities that match the criteria
are listed.
3
Click the Diary View tab and the Detail View tab to view
different information about the activity slip.
4
Select the activity slip you want to view and click Edit. The
Enter Activity Slip window appears with details of the
activity slip.
To change an activity slip
1
Go to the Time Billing command centre and click Activity
Log. The View Activity Log window appears.
2
Enter the name of the employee or supplier who performed
the activity and, if you know it, the date range within which
the activity was recorded. All activities that match the criteria
are listed.
CHANGING AND REVIEWING ACTIVITY SLIPS
3
Select the activity slip you want to change and then click Edit.
The activity slip appears in the Enter Activity Slip window.
4
Make the required changes either in the Activity Slip view or
the Multiple Activity Slips view and click OK or Record.
To delete an activity slip
You can not delete an activity slip that has been billed.
1
Go to the Time Billing command centre and click Activity
Log. The View Activity Log window appears.
2
Enter the name of the employee or supplier who performed
the activity and, if you know it, the date range within which
the activity was recorded. All activities that match the criteria
are listed.
3
Select the activity slip you want to delete.
4
Go to the Edit menu and choose Delete Activity Slip.
Deleting activity slip details in timesheets When you
remove timesheet entries with activity slip details, the linked
activity slip is also removed.
NOTE :
151
Creating time billing invoices
There are two ways you can create a time billing invoice:
„
„
In the Prepare Time Billing Invoice window. This is the
recommended method because the full details of activities
and activity slips are recorded. See below.
A
B
In the Sales window. Use this method if you don’t need to
record details of activities and activity slips or track work in
progress. See page 153.
C
D
To create a time billing invoice using the Prepare Time
Billing Invoice window
The Prepare Time Billing Invoice window allows you to enter
and adjust the billing information for activity slips. As you make
changes in the Prepare Time Billing Invoice window, your
activity slip records are updated automatically.
1
152
Use these filters to find the required activity
slips.
B Bill
If necessary, override the amount or number of
hours you want to bill for each activity slip
here. Any activity slip with 0.00 units or $0.00
in the Left to Bill column is considered billed in
full.
C Adjustment
Enter any adjustments you want to make in this
column.
D Print & sort
options
Select the relevant option if you want to:
• sort activity slips according to job number.
• consolidate all activity slips with the same
activity and job number on the invoice.
• print the activity slip notes on the invoice.
Go to the Time Billing command centre and click Prepare
Time Billing Invoice. The Time Billing Customers window
appears.
NOTE : Including items on time billing invoices If you charge
your customers for both activities and items on a single invoice,
you need to select the I Include Items on Time Billing Invoices
option in the Preferences window. See ‘Setting time billing
preferences’ on page 144.
2
A Filters
Find and select the customer for whom you want to create a
time billing invoice and then click OK. The Prepare Time
Billing Invoice window appears, listing all the open activity
slips for the selected customer.
3
Click Prepare Invoice. The Sales - New Time Billing window
appears displaying the details of the time billing invoice.
CHAPTER 8
BILLING FOR TIME
4
If you invoice for items, enter the following details for each
item:
„ the date in the Date field
„ the quantity being sold in the Hrs/Units field
„ the item number in the Activity field
„ the price of the item in the Rate field
„ [optional] the job number in the Job field
„ the appropriate tax code in the Tax field.
7
NOTE : Entering items on this invoice If you have selected the
I Include Items on Time Billing Invoices option in the
Preferences window, you can also enter items on this invoice.
See ‘Setting time billing preferences’ on page 144.
Complete the invoice in any of the following ways.
„ Record the invoice. Click Record to record the invoice
without printing.
„ Print and record the invoice. Click Print and then choose
the form you want to use for this invoice. For more
information about printing invoices, see ‘Sending forms’
on page 213.
„ Save the invoice as a recurring template. Click Save as
Recurring. Enter the necessary information about the
template in the Edit Recurring Schedule window and click
Save. For more information about recurring transactions,
see ‘Recurring transactions’ on page 197.
Note that no activity slips are created when you use the
recurring sale in the future. Also, recording the recurring
sale will not update the activity slips you used to create the
invoice in the Prepare Time Billing Invoice window.
To create a time billing invoice using the Sales window
NOTE : Activities billed using this procedure will not appear in
most time billing reports No activity slip records will be created
if you use this method to create a time billing invoice. Most time
billing reports are based on activity slip records, therefore, if you
want to print time billing reports, you should create activity slips
(see page 148) and then use the Prepare Time Billing Invoice
window to create the invoice (see ‘To create a time billing invoice
using the Prepare Time Billing Invoice window’ on page 152).
5
6
If you want to group and subtotal the items and activities
separately on the invoice, you can do so by inserting headers,
blank lines and subtotals. For more information, see ‘Adding
and deleting transaction lines, headers and subtotals’ on
page 70.
Enter additional information about the sale, such as the
salesperson, referral source and invoice delivery status.
CREATING TIME BILLING INVOICES
1
Go to the Sales command centre and click Enter Sales. The
Sales window appears.
2
In the Customer field, type or select the customer you want
to invoice.
3
Click Layout. The Select Layout window appears.
4
Click Time Billing to select the Time Billing layout and then
click OK.
153
5
6
For each billable activity, enter:
„ the date the activity was performed in the Date field
„ the number of units or hours being billed in the Hrs/Units
field
„ the activity name or press TAB in the Activity field and
select it from the list
„ the rate charged for a single unit or hour of the activity in
the Rate field
„ [Optional] the job number in the Job field
„ the appropriate tax code in the Tax field.
If you also invoice items, enter the following details for each
item:
„ the date in the Date field
„ the quantity being sold in the Hrs/Units field
„ the item number in the Activity field
„ the price of the item in the Rate field
„ [optional] the job number in the Job field
„ the appropriate tax code in the Tax field.
7
If you want to group and subtotal the items and activities
separately on the invoice, you can do so by inserting headers,
blank lines and subtotals.
For more information, see ‘Adding and deleting transaction
lines, headers and subtotals’ on page 70.
8
Enter additional information about the sale, such as the
salesperson, referral source and invoice delivery status.
9
Complete the invoice in any of the following ways:
Save the invoice as a recurring template. Click Save as
Recurring. Enter the necessary information about the template
in the Edit Recurring Schedule window and click Save. For
more information about recurring transactions, see ‘Recurring
transactions’ on page 197. Note that no activity slips will be
created when you use the recurring sale in the future.
TIP :
„
„
Record the invoice. Click Record to record the invoice
without printing.
Print and record the invoice. Click Print and select the form
layout you want to use for this invoice. For more
information about printing invoices, see ‘Sending forms’
on page 213.
Work in progress
Work in progress is work that you have done for your clients but
haven’t billed yet. Work in progress is indicated on activity slips
by a value other than zero in the Left to Bill field.
Your accounting records will only reflect a sales transaction when
you bill the activities. However, some accountants consider that,
from an accounting perspective, your clients owe you for your
work in progress even if you haven’t yet billed your clients for it.
154
If your work in progress routinely represents a significant amount
of money, you should consider adjusting your accounting
records to reflect this. Consult your accountant for advice on how
to do this.
CHAPTER 8
BILLING FOR TIME
Inventory
INVENTORY
9
The inventory feature enables you to track the quantity and value of the items you buy, sell and build. You can also:
„
compensate for inventory variations. For example, you may find that, from time to time, your recorded inventory levels differ from what is on
the shelves. These variations can be caused by data-entry errors, spoilage and theft, etc.
„
revalue your inventory. Sometimes the quantity of items recorded may be correct, but their values are incorrect. For example, a range of items
may become outdated.
„
track the assembly of individual items into finished items. Many retailing and manufacturing businesses combine a number of inventory items
to create finished items. For example, a retailer may combine a bottle of perfume, lotion and bath salts to make up a gift pack.
Creating items
Before you begin to track your inventory, you need to create a
record for each item of inventory. An item can be:
„
a physical unit that your company may buy, sell or inventory
„
a service that your company wants to include on item
invoices, for example, ‘Shipping’, ’Handling’, and so on.
When you create an item record, you can choose to buy, sell or
inventory the item. These selections determine what functions
you can use the item with. For example, if you want to include a
service item on an invoice (such as installation), you need to
specify that you sell the item.
An item that you inventory is an item whose quantities and values
you want to track. Maintaining an accurate record of on hand
levels of these items requires you to do regular maintenance
tasks. For example, you need to record an inventory adjustment
to write-off damaged items or to record a stocktake.
155
Select...
For...
I Buy this Item
Items or services you want to include on an
item purchase order.
This includes items that are not for resale, and
you don’t need to track their quantities and
values. For example, items for office use only.
It can also include raw materials you use as
components to build other inventory items.
I Sell this Item
Items or services you want to include on an
item invoice.
I Inventory this Item
Items you buy or sell and whose quantity and
values you want to track.
It can also include intermediate goods used in
the productions process, such as parts used to
manufacture finished goods.
Inventory opening balances If you have existing on-hand
quantities of inventory items, you need to record the opening
inventory level for each item. For more information, see ‘Enter
inventory opening balances’ on page 45.
To create an item
Account
Description
Cost of Sales
Account
Type or select the account you want to use to
track the costs associated with producing this
item.
Income Account
for Tracking Sales
Type or select the account you want to use to
record the income you receive from the sale
of this item.
1
Go to the Inventory command centre and click Items List.
The Items List window appears.
2
Click New. The Item Information window appears.
Asset Account for
Item Inventory
Type or select the account you want to use to
record the total value of this item.
3
In the Item Number field, type a unique identifier and press
TAB.
Expense Account
for Tracking Costs
Type or select the account you want to use to
record costs associated with purchasing this
item.
Use the backslash character for service items The
backslash character (\) serves a special purpose: any item
number that begins with a backslash won’t appear on printed
forms. This is useful for service-type items (such as labour) for
which you don’t want to print an item number on the invoice.
TIP :
4
7
If you want to check the spelling in the Name field, click
Spell. For more information, see ‘Spell-check’ on page 18.
8
If you buy this item, click the Buying Details tab and enter
your buying details.
In the Name field, type the name of the new item.
TIP : Copy From
To copy another item’s details to this item
record, click Copy From and choose the item whose
information you want to copy. All information for that item will
be copied to the current item except for the item number,
name, supplier number, auto-build information and history
information.
5
156
C
D
Specify whether you buy, sell or inventory this item by
selecting the relevant options.
As you select the options, account fields appear next to them.
These fields will change according to the combination of
options you select.
6
A
B
E
A
[Optional] Type the standard cost of an item.
If you want to use the standard cost price as the default price, select
Use Standard Cost as the Default Price on Purchase Orders and
Bills preference in the Preferences window (Inventory tab).
B
Type the unit of measure (such as ‘each’ or ‘unit’) in which you
purchase the item. The buying unit is printed on the purchase order.
Enter the appropriate accounts in the fields that appeared
during the previous step.
CHAPTER 9
INVENTORY
C
D
E
9
If you track on-hand quantities and values for this item, type the
number of items that comprise a single buying unit. This is the
number that is added to your on-hand inventory for every buying
unit. For example, if you buy eggs by the carton and track their
purchase as individual units, enter 12 as the number of items per
buying unit. When you buy one carton, your item inventory is
updated by twelve items. If you leave this field blank, the value
defaults to one.
[Optional] Enter the restocking information:
• Type the minimum level of this item you want to keep in your
inventory. When the quantity drops below this level, a re-order
reminder appears in the To Do List.
• Type or select the supplier from whom you usually re-order this
item.
• Type the supplier’s number for the item.
• Enter a re-order quantity for the item.
Choose the GST code you want to use when you purchase this item.
You can override the GST code when you record the purchase.
If you sell this item, click the Selling Details tab and enter
your selling details.
A
E
B
F
C
C
If you track on-hand quantities and values for this item, type the
number of items that comprise a single unit in this field. This is
the number that is subtracted from your on-hand inventory for
every selling unit. For example, if you sell by the six-pack, enter
6 as the number of items per selling unit. When you sell one
six-pack, your item inventory is reduced by six items.
D
You can set pricing levels for different kinds of customers. See
‘Creating custom price levels’ on page 168.
E
Select the tax code you want to use when you sell this item.
Note that you can override the tax code on invoices.
F
If the prices on the Selling Details tab are tax inclusive, select
the Prices are Tax Inclusive option. If the prices are exclusive of
tax, deselect this option.
10
Click the Items Details tab and enter additional information
about the item.
11
[AccountRight Enterprise only] If this item is stored in more
than one location, click the Locations tab and specify the
default location for buying and selling the item.
12
Click OK.
Average Cost, Last Cost and Standard
Cost
Average Cost is calculated as the total cost of an item (the total
amount you have paid to purchase the item or the cost entered
when you transferred the item into stock) divided by the number
of units of that item you have on hand.
D
Last Cost is the most recent purchase price for the item.
A
Type the retail price of one selling unit.
B
Type the selling unit of the item (such as ‘each’ or ‘unit’). You
can type up to five characters. The selling unit is printed on the
item invoice.
CREATING ITEMS
Standard Cost can be used instead of the last purchase price as
the default price on purchases. To use the standard cost price as
the default price, select Use Standard Cost as the Default Price
on Purchase Orders and Bills option in the Preferences window
(Inventory tab).
157
Making inventory adjustments
From time to time you may need to adjust item quantities and
values. For example, if your inventory gets damaged, you may
have to write off some of your inventory or revalue it.
B
Type the quantity by which you want to increase or decrease the
quantity held. Only type the quantity variation.
Type the quantity in inventory units, not buying or selling units.
If you enter a positive number, that number is added to your
on-hand inventory. If you enter a negative number, that number
is subtracted from your on-hand inventory.
C
The average cost of the item appears by default. The average cost
is normally calculated as the total cost of the item divided by the
number of units on hand. If these are new items, type their
purchase cost.
D
The Amount field displays the quantity multiplied by the unit
cost. If you change it, the unit cost is recalculated automatically.
E
Enter the account you want to assign the adjustment account to.
This account is usually a cost of sales or expense account.
This section explains how to make a one-off adjustment to a
single item or a few items. If you need to update the quantities of
several items, see ‘Performing stocktakes’ on page 164.
For examples of common inventory adjustments, see ‘Examples
of inventory adjustments’ below.
Print the Items List Summary report When making
inventory adjustments, you may find it useful to print the Items List
Summary report. This report displays on-hand quantities and values
of items in your software.
NOTE :
To make an inventory adjustment
1
Go to the Inventory command centre and click Adjust
Inventory. The Adjust Inventory window appears.
2
Enter details of the adjustment.
3
Click Record to save the inventory adjustment.
Examples of inventory adjustments
The following are some examples of inventory adjustments.
Example 1a This inventory adjustment increases the number
of items on hand by two and the total value of the items on hand
by $700.
A
A
158
B
C
D
E
Type the item number for the item you want to adjust. To do this,
click in the Item Number column, press TAB and then select the
item from the list that appears.
CHAPTER 9
INVENTORY
Example 1b This inventory adjustment increases the number
of items on hand by two but does not adjust the total value of the
items. The average cost of the items will decrease as result of this
adjustment.
Example 2 This inventory adjustment increases the total value
of the items on hand by $120 but does not change the number
of items on hand. The average cost of the items will increase as a
result of this adjustment.
Multiple inventory locations
This feature is only available in AccountRight Enterprise
If you hold inventory at multiple locations, you can keep track of
item quantities held at each location by recording:
but you cannot delete it. For instructions on how to move items
from the primary location to another location, see ‘Recording
inventory movements between locations’ on page 160.
„
the location at which a purchased item is received (see
‘Entering purchases’ on page 91)
„
the location from where a sold item is shipped (see ‘Entering
sales’ on page 67)
1
Go to the Inventory command centre and click Locations.
The Locations List window appears.
„
the movement of items between locations (see ‘Recording
inventory movements between locations’ on page 160).
2
Click New. The Location Information window appears.
3
In the Location ID field, type an identifier (of up to ten
characters) for the new location and press TAB.
If you want to use multiple locations, you need to create a record
for each inventory location. When you create one or more
locations, a Location field is added to the Purchases and Sales
windows. When you record an item purchase or sale, you can
type or select the receiving or selling location for the item in this
field.
To create inventory locations
You can also select a default receiving and selling location for an
item in the Item Information window (Locations tab) for each
item.
Primary location A location called Primary Location is
automatically created in your company file. When you set up
multiple locations, your existing stock is assigned to this location.
You can change the primary location ID and name, if you want,
MULTIPLE INVENTORY LOCATIONS
159
4
Enter the name and address of the location and contact
details.
5
If you do not receive items at or sell items from this location
(for example, this location is your storage warehouse), select
Items cannot be sold or shipped from this location.
If you select this option, you can only move items to and from
this location by using the Move Items feature.
6
Click OK. The new location appears in the Locations List
window
7
Click Close.
Recording inventory movements
between locations
You use the Move Items window to record the movement of
inventory between your locations.
Although a transaction is not created when you move inventory
items, you can run the Item Movement Audit Trail report to
view the details of inventory movements.
160
To record inventory movements
1
Go to the Inventory command centre and click Move Items.
The Move Items window appears.
2
Select the item you want to move. You can locate an item by
typing the item number in the Search field.
3
Record the quantities held at each location.
A
B
C
A
The On Hand column shows the total quantity available in your
inventory across all locations.
B
Type the quantity held at each location. Increase the quantity
for locations receiving items and reduce the quantity for
locations where items are moved from.
C
The value in the Out of Balance field must be zero before you
can record the movement. That is, the amount in the On Hand
column for the item must be equal to the sum of the amounts in
your location columns.
CHAPTER 9
INVENTORY
Building items
Building Items is the process of taking two or more items, known
as components, to make up another item, known as a finished
item.
3
You do this by transferring the inventory quantities of the
components to that of the finished item. For example, you could
transfer the inventory quantity of timber and fabric (component
items) to furniture (the finished items).
The value in the Out of Balance field must be zero before you
can record the transaction. That is, in the Amount column
the amount for the finished item must be equal to the sum of
the amounts in the Amount column for the components.
You can build items in two ways:
„
manually, for a one-off transfer of inventory. See below.
„
automatically, for a transfer you make repeatedly. See
‘Auto-building items’ below.
4
[AccountRight Enterprise only] If you store an item at multiple
locations, select the location where the item is held. Note that
this field only appears if you use more than one location in
your company file. (See, ‘Multiple inventory locations’ on
page 159.)
5
Enter the unit cost of each item to be included in the build.
6
Click Record to save the inventory transfer.
Note that before you can build a finished item, you need to
create an item record for it.
To build items manually
1
Go to the Inventory command centre and click Build items.
The Build Items window appears.
Type the transfer quantity.
a Type a positive number for the finished item (this number
is added to your on-hand inventory).
b Type a negative number for the component items (this
number is subtracted from your on-hand inventory).
Auto-building items
For items that you repeatedly build, you can use the Auto-Build
function to build the finished items.
Before you can build a finished item using the Auto-Build
function, you need to define what items are needed to build the
item.
TIP : Auto-build from the To Do List You can also auto-build
items using the To Do List. In the Stock Alert view of the To Do
List, select the items you want to build and click Order/Build.
2
Type or select the item numbers of the finished item you want
to make and the component items you want to transfer.
BUILDING ITEMS
161
d Repeat from step a for each component required to build
To define an Auto-Build item
162
1
Go to the Inventory command centre and click Items List.
The Items List window appears.
2
Click the zoom arrow ( ) next to the item you want to build.
The Item Information window appears.
3
Click the Auto-Build tab.
4
In the Minimum Level for Restocking Alert field, type the
minimum level of the item you want to have in inventory.
5
Click Edit List. The Auto-Build Information window
appears.
6
In the List what it takes to build field, type the number of
item units that will be made using the components.
7
Enter details of each of component required to build the item.
a Click in the Item Number column and press TAB. Your
items list appears.
b Select a component item required to build the new
finished item and then click Use Item. The details of the
component appear in the Item Number and Name
columns.
c In the Quantity column, type the number of component
items required to build the specified quantity of the
finished item.
the new finished item.
8
When you have entered all the components, click OK.
9
Click OK and then click Close to return to the Inventory
command centre.
CHAPTER 9
INVENTORY
To auto-build an item
1
Go to the Inventory command centre and click Auto-Build
Items. The Auto-Build Items window appears.
A
C
B
2
A
This column displays all items that you have designated as
finished items.
B
The On Hand, On Order and Net on Hand columns show the
current record of your finished items.
C
Type the quantity of finished items you want to build in the
Qty. to Build column. (Click None if you want to change all
numbers in this column to zero.)
3
Review the entries in this window to make sure that the
quantity, unit cost and total inventory values are correct.
Note that the quantities of the components in the list appear
as negative numbers, while the quantities of the finished
items in the list are shown as positive numbers.
4
Click Record to update your inventory quantities and values.
Click Build Items to begin transferring component items to
finished items. The Build Items window displays the details of
the transfer that will occur when the finished item is built.
BUILDING ITEMS
163
Performing stocktakes
When you set up your company file, you can enter your opening
inventory quantities using the Count Inventory window.
You can also use the Count Inventory window to make
adjustments to item quantities during regular inventory counts or
whenever you find discrepancies.
Each inventory adjustment must be allocated to an account so
that your accounting records accurately reflect the reasons for
the adjustment. For example, many businesses use an expense
account called Shrinkage/Spoilage to track loss or theft of their
items.
3
Click Print to print the Inventory Count Sheet.
4
Manually count your inventory and note down the quantities
on the Inventory Count Sheet.
5
In the Count Inventory window, type the actual quantities of
the inventory items in the Counted column. Any discrepancy
between the counted quantity and the on-hand quantity
appears in the Difference column.
6
Click Adjust Inventory. If there are differences between
on-hand and counted values, the Adjustment Information
window appears.
If you want, you can select a default adjustment account for
tracking the adjustments you entered in the Count Inventory
window.
Before you perform a stocktake
„
„
Make sure you record all built items before counting your
inventory. Otherwise, a missing inventory item that was used
to build another item will be accounted for as an expense,
such as loss or shrinkage. For more information, see ‘Building
items’ on page 161.
This saves you having to enter an account on every line of the
inventory adjustment. This account is normally an expense
account such as Shrinkage/Spoilage. It should not be your
inventory asset account.
Count the actual items in your inventory. You can print the
Inventory Count Sheet report, which lists all your inventory
items, and manually record your actual items on this.
If you need to use different accounts to track the adjustments
you made in step 5, don’t enter a default account.
7
Inventory-count filtering options You can print the
Inventory Count Sheet by clicking Print in the Count
Inventory window or, if you want to set filters, from the Index
to Reports window.
NOTE :
If you entered a default adjustment account at step 6, that
account appears in the Account column for each line item.
If you didn’t enter a default adjustment account, enter an
account against each item listed.
To perform a stocktake
164
Click Continue. The Adjust Inventory window appears,
displaying a line item for each adjustment you entered in the
Count Inventory window in step 5.
1
Go to the Inventory command centre and click Count
Inventory.
8
[Optional] Enter a reason for the adjustment in the Memo
column (for example, Annual inventory count 2006).
2
[Premier Enterprise only] If you have inventory at multiple
locations, filter the list as required.
9
Click Record to update your inventory.
CHAPTER 9
INVENTORY
Reviewing your inventory information
The following tools help you review your inventory information.
Tool
Description
See
To Do List
Displays an alert for items that need to be
purchased or built.
below
Analyse
Inventory
Shows you detailed information about how
much inventory you have on hand, what is
committed, what is on order, and what is
available.
page 166
Inventory
reports
Inventory reports help you keep track of
your item quantities and value.
page 166
View history
You can view the sales and purchase
transaction histories of an item or supplier for
seven years.
page 166
Find
Transactions
Find Transactions helps you find inventory
transactions.
page 192
Items
Register
Gives you a list of your inventory transfers,
adjustments, sales and purchases for all items.
page 193
Transaction
Journal
Lists journal entries of your inventory
transactions.
page 193
2
Click the Stock Alert tab. A list appears showing all items that
need to be ordered or built.
The On Hand column shows the quantity of each item
actually on hand. The On Order column shows the quantity
of each item already on order. The Committed column
shows the quantity of an item on backorder for customers.
3
If you want to automatically order or build items:
a Click in the select column ( ) next to each item you want
to build or order and then click Order/Build. A date
window appears with the current date displayed.
b If you want to, enter a different date and click OK.
An order will automatically be created for the items that
need to be purchased. The restocking information entered
in the Buying Details tab view of the Item Information
window is used to determine the supplier and quantity to
order or the items to build.
4
If you want to change the details of an order or auto-build
transaction, click the Order or Build zoom arrow ( ) next to
the item. Complete the transaction in the window that
appears.
To view a list of all items that need to be built or
purchased
The Stock Alert view of the To Do List displays all items that
need to be built or purchased to fulfil customer orders.
In this window, you can automatically record a transaction for the
items that you need to buy or build. You can also change the
details of an order or auto-build transaction.
1
Click To Do List from any command centre. The To Do List
window appears.
REVIEWING YOUR INVENTORY INFORMATION
165
To analyse inventory
The Analyse Inventory window gives detailed information about
how much inventory you have on hand, what is committed,
what is on order, and what is available. This analysis is based on
all the sales and purchases recorded in your company file.
1
Go to the Inventory command centre and click Analysis. The
Analyse Inventory window appears.
2
Choose the required view of the Analyse Inventory window.
The Summary view displays all inventoried items, while the
Item # view displays all the customer and supplier orders for
a selected item.
3
For information on reports, see Chapter 13, ’Reports’, starting on
page 203
To view sales and purchases history for an item
1
Go to the Inventory command centre and click Items List.
The Items List window appears.
2
Click the zoom arrow ( ) next to the item you want to view.
The Item Information window appears.
3
Click the History tab. The History view displays the purchase
and sales history for the item for seven years: five past years,
the current year and the next year.
[AccountRight Enterprise only] If you use multiple locations to
store your inventoried items, the Group by Item view
displays all inventoried items grouped by the item number.
The Group by Location view displays all inventoried items
grouped by location, while the Item Number view displays
all the customer and vendor orders for a selected item.
To view inventory reports
The following reports help you to keep track of your inventory.
166
„
Analyse Inventory Summary report. The summary and
detailed versions of this report serve as your order book. You
can view a list of all your sales orders and purchase orders for
all or selected items.
„
Items List Summary report. This report shows information
about your items, including their on-hand quantities and
total value. The Items List Summary report also shows an
item’s current average cost price, which is important to know
when making inventory adjustments. You can use this report
to compare your total inventory value to the total of your
inventory asset accounts.
„
Price Summary report. This report lists your item prices, and
is useful for sending to your customers. You could also
convert this report to HTML and post your price list on an
intranet or Internet site.
CHAPTER 9
INVENTORY
Setting item prices
You can set the default selling prices of the items you sell in the
Set Item Prices window. Then, if required, you can change the
prices at the point of sale, which overrides the default prices for
only that sale.
To update the prices of multiple items at once
1
Go to the Inventory command centre and click Set Item
Prices. The Set Item Prices window appears.
2
Click in the select column (
price update.
3
Click Shortcuts. The Pricing Shortcuts window appears.
4
Indicate how you want the price rounded, the basis for
calculating the price, and so on.
To change the price of an item
1
Go to the Inventory command centre and click Set Item
Prices. The Set Item Prices window appears.
If an item is not listed, it means that you haven’t selected the
I Sell This Item option on the Profile tab of the Item
Information window.
2
3
For example, if you want to mark up the items’ prices by
10%, select the Percent Markup option and type 10 in the
adjacent field.
Click in the Current Price column of an item and enter a new
price. Do this for each item price you want to change.
You can enter unit prices with up to four decimal places. On
your invoices, the unit price is multiplied by the quantity sold
and the result is rounded to two decimal places.
Click OK.
SETTING ITEM PRICES
) next to the items that require a
5
If you want to:
„ update the items you selected in step 2, click Update X
Items Only.
„ update the price of all items, click Update All Items.
167
Customising inventory
Your software provides a number of inventory customisation
features:
„
„
„
Custom price levels You can set up to six price levels for an
item and then assign one of these levels to a particular
customer. You could, for example, have one price level for
casual customers, another for irregular customers, another for
regular small-spend customers, another for regular
high-spend customers and so on. You can also specify up to
five price breaks for each price level. You can then charge, say,
all your regular customers increasingly lower prices if they
purchase larger and larger quantities of the item.
Custom fields You can ensure that certain information is
always recorded for an item, such as Warranty, Serial Number
and Voltage. Use these fields for information that you don’t
need to use as report filters.
Custom lists You can use custom list to sort and group your
inventory items. You can then run reports based on the
custom lists. For example, if you are running a trailer-rental
business, you might have custom lists of Colour, Type and
Location. This means you could run a report to include only
blue cage trailers at the Main Street station.
Creating custom price levels
Your software has a pricing matrix that helps you structure your
pricing according to customer status and sales quantities.
Volume discount The volume in the Volume Discount %
field in the Selling Details view of a customer’s card will apply in
addition to the quantity-break price levels you set up.
NOTE :
To name your price levels
1
Go to the Lists menu, choose Custom Lists & Field Names
and then Price Levels. The Custom List and Field Names
window appears.
2
Enter names for the price levels. These names will appear in
the Selling Details view of the Item Information window.
3
Click OK.
To specify price levels and quantity breaks for an item
1
Go to the Inventory command centre and click Items List.
2
Select the item and click Edit. The Item Information window
for the item appears.
3
Click the Selling Details tab.
The base selling price you entered for this item in the upper
section of the Selling Details view appears at Level A (or
whatever you have chosen to label this field).
4
In the remaining fields (Levels B to F, or whatever you have
chosen to label them), type the selling price of this item.
Make an entry for each price level you want to use.
For example, a level A customer might pay $140 for a single
quantity of the item, but if they purchase five units of the item,
they will only have to pay $100 for each of them.
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CHAPTER 9
INVENTORY
5
If you want to specify quantity breaks for a price level:
a Type the first quantity break in the Over field and type the
price for orders that are over the quantity break.
b In the next Over field, type a new quantity break. Assign
the price for this quantity break.
c Continue to enter up to five quantity breaks, for each of
which you can enter up to six price levels. Note that each
quantity break must be a quantity greater than the
previous one and less than the next.
Creating custom lists
You can use custom lists to sort and group your inventory items.
An example of a custom list is Colour, in which you create list
entries of yellow, red, green and blue. When you create or edit
your items, you can assign them one of these colours. When you
run an inventory report, such as the Items Analyse Inventory
Summary report, you can choose to include only red items in the
report.
You can create up to three custom lists.
To name a custom list
6
1
Go to the Lists menu, choose Custom Lists & Field Names,
and then click Items. The Custom List and Field Names
window appears.
2
Enter names for each of the three custom lists in the
appropriate fields and click OK.
Click OK.
To assign a price level to a customer
1
Display the customer’s Card Information window and click
the Selling Details tab.
2
In the Item Price Level field, select the price level you want to
assign to the customer.
You can assign the item’s base selling price or one of the six
price levels.
The selected price level, and any associated quantity breaks,
will now determine the price this customer is charged for the
item.
3
These list names will now appear on the Items Details tab of
the Item Information window.
To create custom list entries
1
Go to the Lists menu, choose Custom Lists and then Items.
The Custom Lists window appears.
2
Select the custom list for which you want to make entries in
the Custom List field.
Click OK.
CUSTOMISING INVENTORY
169
3
Click New and type the name of the list entry. For example, if
you have a colour list, you would enter a colour, such as
Purple.
Printing custom list entries on purchases and invoices You
can customise your invoices and purchases to include custom
lists. For more information see ‘Forms’ on page 211.
Creating custom fields
Custom fields can be used to record additional information about
your items. Examples of custom fields are Warranty, ID No. and
Manufacturer. However, unlike custom lists, custom fields cannot
be used to filter inventory reports.
You can create up to three custom fields.
To name a custom field
4
Click OK.
5
Repeat from step 3 until you have created all your list entries.
6
Click Close to close the Custom Lists window.
1
Go to the Lists menu and choose Custom Lists & Field
Names and then Items. The Custom List and Field Names
window appears.
2
In the Name of Custom Field fields, type the field names and
click OK.
To assign a custom list entry to an item
1
Go to the Inventory command centre and click Items List.
2
Click the zoom arrow ( ) to the left of the item. The Item
Information window appears.
3
Click the Item Details tab.
4
Select the list entry you require from the appropriate custom
list.
5
Click OK.
Custom lists and inventory reports
You can use your custom lists as report filters. For example, you
can generate a report to include only those items with a certain
list entry, such as the colour red. For more information on setting
report filters, see ‘Select the data to be printed’ on page 207. For
more information on inventory reports, see ‘Reviewing your
inventory information’ on page 165.
170
These field names will appear on the Item Details tab of the
Item Information window for all items.
Printing custom field entries on purchases and invoices
You can customise your invoices and purchases to include
custom fields. For more information on customising forms, see
‘Forms’ on page 211.
CHAPTER 9
INVENTORY
You can enter transactions in a number of currencies in addition to your local currency, the Australian dollar. You can record transactions in
pounds, euros, yen or any other currency you use when buying and selling goods and services. You can also track overseas bank accounts and
foreign assets and liabilities.
Overview
a separate receivables account for your sales to customers in
Europe. Every foreign-currency account you create requires a
companion account, known as an exchange account, to track
changes in the value of the transactions assigned to the account.
If you deal in multiple currencies, it’s important to track the
effects of currency exchange fluctuations on your business. Your
software provides detailed reports to help you manage both
unrealised gains and losses (potential changes in the value of
overseas transactions) and realised gains and losses (the actual
changes in the value of your assets, liabilities and equity that
occur when you exchange foreign currency for Australian
dollars).
Your local currency, the Australian dollar, is automatically set up
for you. As this currency is used to determine the value of all
other currencies, it cannot be deleted and its exchange value is
fixed at 1. Before you begin entering transactions, you need to
specify the appropriate currency for all your overseas customers
and suppliers. To ensure accurate records, and speed up entering
of transactions, only one currency can be selected for each
customer or supplier card. An additional customer or supplier
card must be created for each foreign currency used.
The multiple-currencies feature is optional. If all your business is
conducted with customers and suppliers in Australian dollars,
there’s no need for you to use this feature. If you do want to use
the multiple currencies feature, you need to set a preference.
You will also have to perform a number of setup tasks described
in this chapter. For example, you need to set up special accounts
to track the transactions you make in each currency. If, for
instance, you plan to make sales in euros, you will need to create
171
INTERNATIONAL TRANSACTIONS
10 International transactions
Setting up multiple currencies
Before you can record transactions for multiple currencies, you
need to complete the following setup tasks.
Task
See
1
Select the multiple currency preference
below
2
Set up records for foreign currency
below
3
Create accounts to track foreign-currency
transactions
below
4
Assign accounts to foreign currencies
page 174
5
Assign currencies to foreign customers and
suppliers.
page 174
The following foreign currencies have been set up for you
already: Hong Kong dollar, New Zealand dollar, Canadian dollar,
European Union euro, Great Britain pound, Japanese yen and
United States dollar.
If you do business in any other currency, you will need to create a
record for the currency.
1
Go to the Lists menu and choose Currencies. The
Currencies List window appears.
2
Click New. The Currency Information window appears.
Once the setup is complete, you can enter foreign-currency
transactions the same way you enter transactions based on local
currency.
3
Enter details of the currency such as a code, name and current
exchange rate.
4
Click OK and then Close.
Task 1: Select the multiple currency
preference
Task 3: Create accounts to track
foreign-currency transactions
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
In the System view, select the I Deal in Multiple Currencies
option. A message appears.
NOTE : This selection cannot be undone Once you begin
entering foreign-currency transactions, you cannot deselect this
option.
172
Task 2: Set up records for foreign
currency
3
Click OK to prepare your company file for multiple currencies.
4
Click OK to close the Preferences window.
To track transactions in a foreign currency, you must create a
number of accounts that use that currency rather than Australian
dollars. You cannot use the same accounts that you use for your
local currency transactions because your currency and other
currencies will rarely trade at par with one another (that is, one
Australian dollar rarely buys exactly one monetary unit in any
other currency).
NOTE : Accounts that can be assigned foreign currency Only
balance sheet accounts—asset, liability and equity accounts—can be
assigned a foreign currency. All other types of accounts are tracked
using Australian dollars.
CHAPTER 10
INTERNATIONAL TRANSACTIONS
For every foreign currency account you create, your software
needs a linked exchange account. For example, if you create a
yen cheque account, it must be linked to a yen exchange
account. Together, these accounts allow the foreign currency
amount and the local currency equivalent to be viewed in your
balance sheet.
When you create a foreign-currency account, you can let your
software create the linked exchange account, or you can specify
one yourself.
If you make foreign purchases
Following is a list of accounts you are likely to need if you make
payments to suppliers in a foreign currency:
„
Liability account for tracking payables (for instance, ‘Payables
Accounts Euro’). This account must be assigned the foreign
currency and not your local currency.
„
Bank account that will be used to pay debts in a foreign
currency. This can be your local currency account if your bank
writes cheques for you in other currencies.
„
Asset account for deposits paid (if you make deposits on
orders). This account can be assigned the currency code of
either the foreign currency or your local currency.
„
Liability account for import duties collected (if you are
required to pay duty on goods). This account can be assigned
the currency code for either the foreign currency or your local
currency.
The following section describes the accounts you need to create.
If you make foreign sales
Following is a list of accounts you are likely to need if you accept
payment from customers in a foreign currency:
„
Asset account for tracking receivables (for instance,
‘Receivables Account Euro’). This account must be assigned
the foreign currency and not your local currency.
„
Bank account where customer receipts in the foreign
currency will be deposited. This can be your local currency
account if your bank accepts deposits in other currencies.
„
Liability account for deposits received (if you allow customers
to make deposits on orders). This account can be assigned
the currency code for either the foreign currency or your local
currency.
NOTE : Grouping with undeposited funds Only receipt
transactions that are in your local currency may be grouped as
undeposited funds. Therefore, you can only use your Australian
dollar currency account as the linked account for undeposited
funds.
SETTING UP MULTIPLE CURRENCIES
If you track unrealised gains and losses
If you plan to track unrealised gains and losses, you need to
create an income account for this purpose. You may want to
name it ‘Unrealised Currency Gain/Loss’ or something similar. We
recommend you ask your accountant whether your business
needs to track unrealised gains and losses and, if it does, the most
appropriate way for it to do so. See ‘Tracking currency gains and
losses’ on page 176 for more information.
Additional accounts
Depending on your business, you may need to create additional
accounts to track foreign bank accounts, assets held overseas and
the like. If you are unsure about these accounts, ask your
accountant or an MYOB Certified Consultant.
173
Task 4: Assign accounts to foreign
currencies
1
Go to the Lists menu and choose Currencies. The
Currencies List window appears.
2
Click the zoom arrow ( ) next to the currency you want to
assign to accounts. The Currency Information window
appears.
3
Select the required tab. Click:
„ the Receivable Accounts tab if customers pay you in this
currency
„ the Payable Accounts tab if you pay bills in this currency.
4
Type or select the relevant accounts in the appropriate fields.
In the bottom section of the window, select the options that
apply to your business. As you select the options, additional
fields will appear. You can then type or select the accounts
you will use to track various parts of your transactions such as
freight charges, deposits and discounts.
5
Click OK.
6
Repeat this procedure for each currency you want to assign to
the relevant accounts, then click Close.
NOTE : A card with transactions Note that you cannot change the
currency of a card that you have already used in a transaction. You
will need to create a new card for the customer or supplier. Any
transactions recorded for a card will be in the currency linked to the
card.
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the zoom arrow ( ) next to the required card to display
the Card Information window and then click the Profile tab.
3
In the Currency field, type or select the currency you want to
assign to the card. (The local currency is selected by default.)
4
Click OK.
5
Repeat this procedure for each card that you want to assign a
currency, then click Close.
Task 5: Assign currencies to foreign
customers and suppliers
The currency used in a transaction is determined by the currency
assigned to the customer card or supplier card you are using.
A card can only use a single currency, so if you deal with a
customer or supplier in multiple currencies, you will need to
create a separate card for each currency.
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Exchange rates
When you record a foreign currency transaction, you can either
use the default exchange rate for the currency or enter a new rate
for that transaction.
To edit the default exchange rate
1
From any command centre, go to the Lists menu and select
Currencies. The Currencies List window appears.
2
Select the currency entry you want to modify and click Edit.
(Alternatively, click the zoom arrow next to the currency
name.)
The Currency Information window (the Currency Profile
view) appears.
3
Modify the fields as required and click OK.
4
Click Close to exit the Currencies List window.
To change the exchange rate in a transaction window
1
Open a foreign currency transaction window. You can record
foreign currency transactions in the following windows:
„ Sales, Receive Payments, and Sales Register (Returns &
Credits view)
„ Purchases, Pay Bills, and Purchases Register (Returns &
Debits view)
„ Spend Money, Receive Money, Reconcile Accounts and
Transaction Journal (General view).
2
Calculate the exchange rate first using the Currency
Calculator. See ‘Using the Currency Calculator’ below.
3
Click Rate at the bottom of the transaction window. The
Exchange Rate window appears.
EXCHANGE RATES
4
Type the new exchange rate in the Transaction Exchange
Rate field.
This will only affect the transaction that is currently displayed.
5
If you want to change the exchange rate for all future
transactions that use this currency, select the Update Current
Exchange Rate in the Currency List with Transaction
Exchange Rate option.
6
Click OK.
Using the Currency Calculator
If you receive a payment for a foreign currency invoice in your
local currency, you can use the Currency Calculator to calculate
the exchange rate based on the foreign and local amounts, or to
calculate the foreign amounts based on the local amounts and
the exchange rate.
You can access the Currency Calculator from any window in
your software by going to the Help menu and choosing
Currency Calculator.
175
Tracking currency gains and losses
Whenever you have a foreign bank account, changes in the
currency exchange rates between that country currency and
your home currency will cause the value of your foreign currency
account to fluctuate. When your local currency weakens relative
to the foreign currency, the value of your foreign account
increases, creating a currency gain. When your local currency
strengthens, your foreign account experiences a loss in real value.
Your software can track these fluctuations.
Gains or losses in the value of a foreign account are considered
unrealised when the money is still sitting in the foreign account.
Conversely, when the money is withdrawn from the account,
either by using it to pay for a purchase or by converting it to local
currency, the gain or loss is considered realised.
Tracking realised currency gains and
losses
Realised currency gains and losses on sales and purchases are
tracked differently to those on deposits and withdrawals.
For realised gains or losses on sales and purchases, a posting is
automatically made to the Currency Gain/Loss account.
For realised currency gains or losses on transfers—deposits and
withdrawals—you need to make a general journal entry to the
Currency Gain/Loss account.
Sales and purchases
When a currency gain or loss is realised, that is, a payment is
received or made, an automatic posting is made to the Currency
Gain/Loss account and to the exchange account for the foreign
currency.
The Currency Realised Gain/Loss report lists the currency gains
and losses that have been posted automatically through sales and
purchases during the month for foreign-currency transactions.
Example You make a sale to a British customer for £100 at an
exchange rate of $2.5 to the pound.
Your software posts $100 to the British pound receivables
account, $150 to the British pound receivables exchange
account and $250 to the sales account.
The following month the British customer pays their account by
depositing £100 into your British bank account, but the
exchange rate has changed from $2.5 to $2.3 to the pound. The
deposit is valued at $230.
You originally made a sale of £100 that at the time was worth
$250. When you received payment, it was worth only $230.
Therefore, the $20 difference is a realised currency loss, and will
be posted to the British pound receivables exchange account and
to the Currency Gain/Loss account.
When you activate the multiple-currency feature in your
software, a Currency Gain/Loss account is created automatically.
Large foreign currency exposure If you have a large
foreign-currency exposure, you may require a more detailed analysis
than posting to a single Currency Gain/Loss account provides. In
this case, we recommend that you consult your accountant for
further advice about managing your foreign currency exposure.
NOTE :
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INTERNATIONAL TRANSACTIONS
British bank account, and $150 to the British bank exchange
account.
The following week you withdraw that £100 from the bank at an
exchange rate of $2.3 to the pound. Your software values the
withdrawal at $230. You put £100 into the account that at the
time was worth $250. When you withdrew the £100 from the
account, it was worth only $230. Therefore, the $20 difference is
a realised currency loss.
If you looked at your balance sheet, you would see a zero value
for the British bank account, but $20 remaining in the British
bank exchange account. You need to post the $20 from the
exchange account to your Currency Gain/Loss account.
Transfers
Unrealised currency gains and losses
Currency gains and losses that occur through the transfer of
funds need to be recorded by a general journal entry.
An unrealised gain or loss is a potential gain or loss at any time
between the recorded sale or purchase and the receipt or issue of
payment. No automatic postings are made to track unrealised
gains or losses on foreign currency transactions.
At the end of the month, you can look at the value of your foreign
accounts and use the Currency Calculator (from the Help menu
at the top of the screen) to calculate their true values in local
currency at that time.
You can then create a general journal entry where losses are
posted as credits to the exchange account with a corresponding
debit to your Currency Gain/Loss account. Gains are posted as
debits to the exchange account with a corresponding credit to
your Currency Gain/Loss account.
Example Say the original balance in your British bank account
is zero and you then transfer $250 at an exchange rate of $2.5 to
the pound into your British bank account. Your software converts
the $250 to £100 and deposits it into your British bank account.
Using your software’s dual account system, £100 is posted to the
TRACKING CURRENCY GAINS AND LOSSES
Not all businesses need to track unrealised currency gains or
losses. You should check with your accountant to determine
whether your business needs to track them.
The Currency Unrealised Gain/Loss report lists the gains or
losses made on each foreign currency. You can then use this
information to make adjustment postings to each of your foreign
currency accounts for your balance sheet and also to a profit and
loss account.
177
Miscellaneous transactions
Transferring funds to a foreign account
You may want to transfer funds from a local-currency account to
a foreign account. You can do this through the Spend Money
window.
You cannot use the Transfer Money window to transfer
funds to a foreign account.
NOTE :
Example You have received a cheque from your customer,
Donelli Paper, for £5000 against an outstanding invoice, and you
want to bank it in your local-currency account. Let’s also assume
the exchange rate has changed from $2.5 to $2.3 since you
made the original sale.
To bank Donelli Paper’s cheque, you would do the following:
1
Go to the Sales command centre and click Receive
Payments. The Receive Payments window appears.
1
Go to the Banking command centre and click Spend Money.
The Spend Money window appears.
2
Type or select the customer in the Customer field. Details of
Donelli’s purchase appear in the window.
2
Click Currency. The Exchange Rate window appears.
3
3
Select the relevant foreign currency and enter the exchange
rate.
In the Deposit to Account field, type or select your
local-currency account.
4
Click Rate:GBP. The Exchange Rate window appears.
4
Click OK. The Spend Money window reappears.
5
5
In the Pay from Account field, type or select the
local-currency bank account from which the withdrawal is
being written.
In the Transaction Exchange Rate field change the rate from
$2.5 to $2.3.
6
Click OK. The Receive Payments window reappears.
7
In the Amount Received field, type 5000.
6
Enter the date, amount, payee, memo and cheque number.
8
Click in the Amount Applied column and then press TAB.
7
In the Acct # (or Name) column, type or select the account
into which you want to make the deposit.
8
Click Record.
Entering foreign-currency transactions in
a local account
The Out of Balance field displays £0.00. The Gain/Loss field
shows the a loss (in local currency) as a result of the new
exchange rate. This amount is posted to a currency gain/loss
account.
9
Click Record.
You can enter foreign-currency transactions in a local-currency
account. For example, you can accept a cheque from a customer
in pounds and bank it in an Australian bank account.
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Reconciling accounts containing foreign
transactions
When you are reconciling your bank statement, the foreign
currency transaction amounts listed in your statement will often
not match those listed in your software. This is because the
exchange rate used by the bank is different from the rate used in
your software at the time of the transaction.
There are two methods by which you can reconcile accounts
containing foreign transactions:
„
If you have your security preferences set to allow records to
be changed, click the zoom arrow ( ) next to the transaction
in the Reconcile Accounts window. The original transaction
appears. Click Rate and change the exchange rate to match
the bank statement.
„
If you have the security preferences set so that records cannot
be changed, click the zoom arrow ( ) next to the
transaction. Choose Reverse [...] Transaction from the Edit
menu, and re-enter the payment with the correct exchange
rate.
MISCELLANEOUS TRANSACTIONS
179
180
CHAPTER 10
INTERNATIONAL TRANSACTIONS
LISTS
11 Lists
Your company file consists of different types of records – customers, accounts, recurring transactions, and so on. Records of the same type are
grouped into lists.
Lists help you to keep track of the customers that owe you money, the items that you sell, the accounts or items being used, and so on. Lists can
be modified to suit your requirements. For example, you can modify account and job levels to alter how they appear in reports. You can also
inactivate records that you don’t use to keep your lists up to date.
Lists can be used in a number of ways. For example, you can use customer identifiers, contact logs and email addresses to create a list of
customers who have contacted you in the past six months. You can then create a PDF file of your current price list and email it to those customers.
Adding a record
Lists are made up of individual records. For example, each item in
your items list is a record, as is each job in your jobs list. You can
add as many records as you want to a list.
To add this type of record...
See
Account
page 26
To add this type of record...
See
Item
page 155
Tax code
page 182
Recurring transaction
page 197
Foreign currency
page 172
Category
page 242
Job
page 243
Card
•
•
•
•
Customer
Supplier
Employee
Personal
Time billing activity
page 65
page 89
page 116
page 223
page 146
181
Adding records using Easy-Add
You can create new records easily using the Easy-Add feature.
Accounts, cards, categories, comments, custom list items, jobs,
referral sources and shipping methods can be added to your lists
when entering transactions.
1
In the Sales command centre, click Enter Sales. The Sales
window appears.
2
Type the customer’s name and press TAB. If there is no card for
this customer, the Select from List window appears.
3
Click Easy-Add. A new customer card is added to your cards
list. You can now complete your sale with the new card.
Easy-Add is not available from some transaction
windows In windows such as Spend Money, the type of card you
want to create is not immediately obvious, so the Easy-Add button is
not available.
NOTE :
To create a record using Easy-Add
Let’s assume you want to add a customer card while entering a
sale.
Setting up tax codes
Tax codes are used to track tax paid to and by your business. Each
tax code represents a particular type of tax.
Tax Type
Description
Your software has an extensive list of tax codes that can be used
in a variety of situations—for example, when doing business with
overseas customers, when tracking capital acquisitions and so on.
Consolidated
This tax type is used for taxes that are made up of
two or more tax codes or sub-taxes. For more
information, see ‘Consolidated tax codes’ on
page 183.
Summary of tax types
Import Duty
Importers, who are bringing goods into Australia
from other countries, should use this tax type. Tax
codes with this tax type are used to record the import
duty payable on a purchase order without changing
the total amount of the purchase order. (The import
duty is treated as a separate transaction since the
duty is payable to the ATO, not to the company
supplying the goods.)
When you create a tax code, you need to select which type of tax
it is. There are eight tax types you can choose from. The table
below describes what each tax type is for.
182
CHAPTER 11
LISTS
Tax Type
Description
Sales Tax
This tax type is associated with the Wine Equalisation
Tax.
Goods &
Services Tax
This tax type is associated with the Goods & Services
Tax assigned to sales and purchases. This tax type
also is used for GST free goods and GST on Wine
Equalisation Tax.
Input Taxed
tax type
This tax type should be used by organisations, such
as suppliers of financial services, that must pay GST
on the purchases they make but don't collect GST
from their clients or customers. The Input Taxed tax
type also should be used by businesses that haven't
registered for GST (businesses with turnover of less
than $50,000 annually).
Luxury Car
Tax
This tax type is used by the Automotive industry to
handle the luxury car tax.
Voluntary
withholdings
This tax type should be used for the PAYG voluntary
withholdings scheme.
No ABN/TFN
This tax type should be used for suppliers that have
not quoted ABNs on their invoices, or for amounts
that are withheld from investment income because
no tax file number was quoted. This type indicates
that the tax code is a PAYG Withholding tax type and
will always be rounded down to the nearest dollar.
You should use a No ABN/TFN tax code of 48.5% for
suppliers who do not quote an ABN on invoices for
more than $50 tax exclusive, or where amounts are
withheld from investment income because no tax file
number was quoted. If both of these situations apply
to your company, you will need to create two tax
codes to handle them separately.
4
Complete the other fields in this window.
A
B
A
Enter a description, type and rate. If you selected
Consolidated as the Tax Type, see ‘Consolidated tax codes’
below.
B
Select the linked account for tax collected and for tax paid.
These fields are only available for some tax types.
Consolidated tax codes
You can create consolidated tax codes by combining two or more
tax codes. For example, you could create a GW tax code (with a
41.9% tax rate) that is composed of WET (Wine Equalisation Tax)
at 29% and WEG (GST on Wine Equalisation Tax) at 12.9%.
To create a tax code
1
Go to the Lists menu and choose Tax Codes. A list of tax
codes appears.
2
Click New. The Tax Code Information window appears.
3
In the Tax Code field, type a code (up to three characters) for
the new tax and press TAB.
SETTING UP TAX CODES
NOTE : You can only consolidate tax codes that are in your tax
code list Make sure you first create the tax codes you want to
consolidate. The rest of the fields are filled in for you and the
consolidated tax rate is calculated automatically.
183
To assign tax codes to accounts
To assign tax codes to cards
You can assign a tax code to any detail account in your accounts
list. The tax code you assign will appear as the default tax code in
a transaction where you allocate a deposit, cheque, or a non-item
sale or purchase to this account.
You can define a default tax code for a customer or supplier. You
would only need to select a default tax code if the customer’s or
supplier’s tax status takes precedence over that of the item or
service being sold or purchased.
For example, you have assigned the GST tax code to your
electricity expense account. When you write a cheque to settle
your electricity bill in the Spend Money window, and allocate it
to this account, the GST tax code will appear in this window by
default.
For example, if a customer is one to whom you only ever make
export sales, you should assign the EXP (Export Sales) tax code to
that customer’s card.
You can allocate a tax code to an account in the Edit Accounts
window. To open this window, go to the Accounts command
centre, click Accounts List, double-click the required account,
and click the Details tab.
When you create a quote, order or invoice, the tax code assigned
to the customer will be used as the default. This tax code will
override the item’s tax code in an item sale, and the allocation
account’s tax code in a non-item sale.
Tax codes are assigned to customers in the Selling Details tab of
their Card Information window.
Make sure you select the Use Customer’s Tax Code option. (If
this is not selected, the customer’s tax code will not be used, even
if one has been assigned.)
To assign tax codes to items
When you set up your items, you must assign a tax code to each
of them.
You can assign a tax code to be used when you sell an item and a
tax code to be used when you buy an item. That tax code will
appear as the default in sales and purchases of that item unless
you have specified that the customer’s or supplier’s tax code to
be used instead (see below).
Similarly, when you create a quote, order or bill, the tax code
assigned to the supplier will be used as the default. This tax code
will override the item’s tax code in an item purchase and the
allocation account’s tax code in a non-item purchase. Tax codes
are assigned to suppliers in the Buying Details tab of their Card
Information window.
Make sure you select the Use Supplier’s Tax Code option. (If this
option is not selected, the supplier’s tax code will not be used,
even if one has been assigned.)
Tax codes are assigned to items in the Buying and Selling tabs of
the Item Information window. For more information, see
‘Creating items’ on page 155.
184
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LISTS
Finding a record
Records are stored and displayed in lists. For example, the Jobs
List window lists the jobs you have created, the Accounts List
window lists your accounts, and so on. As lists get long, it can
take time to locate a record. Use the following tools to quickly
find a record.
Tabs Some lists are divided into separate views using tabs. For
instance, the accounts list is divided by account type into nine
views (using nine tabs), making it easier for you to find an
account. For example, if you are looking for an asset account,
click the Asset tab. Within the tab you can use the scroll bar to
find the record.
Search fields You can find a record by filtering the cards,
activities, locations recurring transactions, and items lists using
the search fields. To do this, select a filter from the Search by list
FINDING A RECORD
and enter search terms in the adjacent field, then press TAB. The
list is sorted according to your selections. To reset the list, click
the ( ) icon next to the search field.
Advanced search filters You can use advanced search filters
such as the recontact date and identifiers to search for a single
card or a group of cards. To do this, in the Cards List window,
click Advanced. Enter the relevant filters to narrow your search.
The Cards List window will display only those cards that meet
your search criteria.
185
Changing a record
You can make changes to:
„
accounts
„
cards
„
categories
„
foreign currencies
„
items
„
jobs
„
payroll categories
„
tax codes
„
time billing activities.
To change a record
1
Display the list to which the record belongs. For example, if
you are making changes to an account, display the Accounts
List window; if you are changing an item, display the Items
List window, and so on.
2
Locate the record you want to change in the list. Use a search
method described in ‘Finding a record’ on page 185, if
necessary.
3
Once you locate the record, click the zoom arrow ( ) next to
it. The record details are displayed in the Information
window.
4
Make the required changes and click OK.
Inactivating or reactivating a record
If you have accounts, cards, items, inventory locations
[AccountRight Enterprise only], activities, or jobs that you rarely
use—for example, a card you created for a one-off sale or
purchase—inactivating them will remove them from selection
lists. Your list of records will be shorter and, consequently,
selecting the record you need will be easier. You can still use an
inactive record in transactions by manually entering the record
name.
186
To inactivate (or reactivate) a record
1
Display the list to which the record belongs. You can display
the list from the appropriate menu or command centre. For
example, if you are inactivating a card, go to the Lists menu
and choose Cards, or go to the Card File command centre
and click Cards List.
2
Locate the record you want to inactivate (or reactivate) and
click the zoom arrow ( ) next to it. The record’s details
appear. For cards, accounts and items, select the Profile tab.
3
Select (or deselect) the Inactive Card option.
CHAPTER 11
LISTS
Deleting a record
You can delete a record that you no longer need. However, a
record must meet certain criteria before it can be deleted. For
example, most records cannot be deleted if they have been used
in transactions.
Deleting other records
You can delete:
„
a card, foreign currency, tax code, payroll category, item or
job that has not been used in a transaction. If transactions
exist, you need to delete the transactions before you can
delete the record.
„
a foreign currency record that has not been linked to a card
„
a card that has not been used in a quote, order or recurring
template
Deleting an account
You can delete an account if it meets the following criteria:
„
the account isn’t a level-1 account
„
the account has a zero balance
„
no journal entries used the account
„
an item with a zero quantity in inventory
„
none of your recurring templates uses the account
„
„
the account isn’t used as a linked account for any transaction
types
an activity slip that is billed on a purged or deleted time
billing invoice
„
an activity that you’ve recorded on activity slips that have
been purged.
„
the account isn’t linked to any of the items you’ve entered.
To delete other records
To delete an account
1
Go to the Lists menu and choose the list to which the record
belongs. For example, if you are deleting an item, choose
Items; if you are deleting a card, choose Cards, and so on.
Click the zoom arrow ( ) next to the account you want to
delete. The account details are displayed in the Edit Accounts
window.
2
Locate the record you want to delete and click the zoom
arrow ( ) next to it. The record details appear in the
Information window.
Go to the Edit menu and choose Delete Account.
3
Go to the Edit menu and choose Delete [...]. For example, if
you want to delete a customer card, choose Delete Card.
1
Go to the Accounts command centre and click Accounts
List. The Accounts List window appears.
2
3
DELETING A RECORD
187
Combining records
In some situations you may want to combine two records. For
example, you may have records in your cards list for two
suppliers who have merged their operations. Or you may have
separate accounts for two departments whose sales figures you
now want to combine.
When you combine two records, you identify one as the primary
record and the other as the secondary record. The primary record
becomes the owner of all the transaction details (transactions,
jobs, history, and so on) currently linked to the secondary record
and the secondary record is deleted.
Historical reports When you view historical reports from
the previous financial year (for instance, the previous financial year’s
balance sheet), the primary account is listed showing the combined
account balance.
NOTE :
When cards are combined, the non-transaction card information
for the primary card—such as card name, address and buying
and selling details—is retained as the default information for the
combined card. The transaction details for the secondary card are
added to the primary card. Non-transaction information for the
secondary card is deleted.
To combine two cards
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Select the primary card.
3
Click Actions and choose Combine Cards. The Combine
Cards window appears.
Combining cards
You can combine:
„
customer cards
„
supplier cards
„
personal cards
You cannot combine:
188
„
employee cards
„
cards with a different type
„
cards with different currencies
„
cards where the primary card is inactive.
The primary card appears under the Primary - Move all
transactions to list. If necessary, you can choose another
primary card from the list.
CHAPTER 11
LISTS
4
Select the secondary card from the Secondary - Remove all
transactions from list.
The next action cannot be undone Before
continuing, check that you’ve selected the correct cards to be
combined. If you combine the wrong cards, you will have to
restore them from a backup and re-enter transactions posted to
those cards since the backup.
To combine two accounts
1
Go to the Accounts command centre and click Accounts
List. The Accounts List window appears.
2
Select the primary account. This is the account that the
secondary account’s transaction history and opening balance
will be transferred to.
3
Click Combine Accounts. The Combine Accounts window
appears.
CAUTION :
5
Click Combine Cards.
6
In the confirmation window, click OK to confirm you want to
combine the two cards.
Combining accounts
You can only combine accounts that are:
„
local currency accounts
„
accounts of the same account type (for example, asset and
expense accounts cannot be combined) and
„
detail accounts.
You cannot combine:
„
header accounts
„
accounts that are linked to other accounts.
When accounts are combined, the non-transaction account
information for the primary card—such as account name,
description and bank details (for banking accounts)—is retained
as the default information for the combined account. The
transaction details and opening balance of the secondary
account are added to the primary account. Non-transaction
information for the secondary account is deleted.
Budgets and job budgets not combined Budgets and job
budgets for the secondary account are not added to the budgets
and job budgets of the primary account. You will have to revise the
budgets and job budgets of the primary account after combining
them.
NOTE :
COMBINING RECORDS
The primary account appears under the Primary - Move all
transactions to list. If necessary, you can choose another
primary account from the list.
4
Select the secondary account from the Secondary - Remove
all transactions from list.
CAUTION : The next action cannot be undone Before
continuing, check that you’ve selected the correct accounts to
be combined. If you combine the wrong accounts, you will have
to restore from a backup and re-enter transactions posted to the
accounts since the backup.
5
Click Combine Accounts.
When the next window appears, click OK to confirm you
want to combine the two accounts.
189
190
CHAPTER 11
LISTS
A transaction is an entry that changes the balance of accounts. You create a transaction when you record entries such as sales invoices, purchase
orders and inventory adjustments.
You can change, delete or reverse transactions—depending on how your preferences are set up.
If you have transactions that need to be entered periodically, you can set up recurring transactions. You can use these recurring transactions to
store details of transactions you record regularly and to set up reminders to record them.You can also set up your AccountRight software to record
recurring transactions automatically on their due date.
Finding a transaction
There are several ways to find a transaction. The method you use
depends on the information you have at hand.
Use the...
To find...
See
Find
Transactions
window
journal entries, sales, purchases,
cheques, deposits, supplier and
customer payments.
page 192
Sales Register
transactions relating to sales (such as
open and closed invoices) quotes,
orders, credits and returns. This method
is most useful if you know the transaction
date or the customer’s name.
page 192
transactions relating to purchases (such
as open and closed bills) quotes, orders,
debits and returns. This method is most
useful if you know the transaction date or
the supplier’s name.
page 192
Purchases
Register
191
Use the...
To find...
See
Bank Register
spend money, pay bills, receive
payments and receive money
transactions.
page 193
Items Register
inventory item transactions for a
particular date range. This includes
adjustments, auto-build and other
inventory transactions.
page 193
Transaction
Journal window
any transaction by source journal.
page 193
Recurring
Transactions
List window
recurring transactions. You can sort
transactions by name, type, or
frequency, or search for a transaction by
name, amount, or next due.
page 194
TRANSACTIONS
12 Transactions
Click the tab of the sales category you would like to view—for
example, Orders.
To find a transaction using the Find Transactions
window
1
From any command centre, click Find Transactions.
2
In the Find Transactions window, click the appropriate
tab—for example, the Card tab to search by card.
3
Filter your search using the Search By and date range fields.
For example, to search for all transactions made in August
2009 relating to Huston & Huston Packaging, you would
make the following selections in the Card view.
2
[Optional] Filter your search using the Search By and date
range fields.
The transactions that match your search criteria appear in the
Sales Register window. You can view a transaction in detail
by clicking the zoom arrow ( ) next to it.
To find a transaction using the Purchases Register
window
4
If you want to narrow your search further:
a Click Advanced. The Advanced Filters window appears.
b Type or select additional search filters, and click OK.
The transactions that match your search criteria appear in
the Find Transactions window. You can view a transaction
in detail by clicking the zoom arrow ( ) next to it.
The Purchases Register window lists all open and closed
purchases, returns and debits, quotes and orders. You can also
view a list of all purchases.
1
Go to the Purchases command centre and click Purchases
Register. The Purchases Register window appears.
2
Click the tab of the type of purchase you would like to
view—for example, All Purchases.
3
[Optional] Filter your search using the Search By and date
range fields.
NOTE : Quotes and orders without applied payments don’t
appear in the Find Transactions window To find these types
of transactions, go to the Quotes and Orders views of the Sales
Register or Purchases Register.
To find a transaction using the Sales Register window
The Sales Register window lists all open and closed invoices,
returns and credits, quotes and orders. You can also view a list of
all sales, if you choose.
1
192
Go to the Sales command centre and click Sales Register.
The Sales Register window appears.
The transactions that match your search criteria appear in the
Purchases Register window. You can view a transaction in
detail by clicking the zoom arrow ( ) next to it.
CHAPTER 12
TRANSACTIONS
To find a transaction using the Bank Register window
2
You can use the Bank Register window to find spend money, pay
bills, receive payments and receive money transactions.
In the Search By field, select whether you want to view
transactions for all items or a single item.
3
Go to the Banking command centre and click Bank Register.
The Bank Register window appears.
If you selected Item at step 2, type or select the item number
in the field that appears to the right of the Search By field.
4
In the Dated From and To fields, enter the date range during
which the transaction was recorded. The transactions that
match your search criteria appear in the Items Register
window.
5
If you want to view a transaction in detail, click the zoom
arrow ( ) next to the transaction.
1
2
Type or select the bank, credit card or petty cash account you
used for the transaction in the Account field.
To find a transaction using the Transaction Journal
window
3
In the Dated From and To fields, enter the date range during
which the transaction was recorded. The transactions that
match your search criteria appear in the Bank Register
window.
The Transaction Journal window groups all your accounting
entries into one of six journals: general, disbursements, receipts,
sales, purchases and inventory. It also enables you to display all
transactions.
4
If you want to view a transaction in detail, click the zoom
arrow ( ) next to the transaction.
1
Click Transaction Journal from any command centre (except
Card File). The Transaction Journal window appears.
2
Click the appropriate tab—for example, the Sales tab to find
a sales invoice, the Disbursements tab to find a payment,
and so on.
To find a transaction using the Items Register window
The Items Register window gives you quick access to
transactions relating to items. When the register is filtered to
show a single item, a running balance of the item’s quantities and
values appears.
1
Go to the Inventory command centre and click Items
Register. The Items Register window appears.
FINDING A TRANSACTION
193
3
In the Dated From and To fields, enter the date range within
which the transaction was recorded. All transactions between
(and occurring on) these dates will be listed.
4
If you want to search for a range of journal ID numbers, enter
the range in the ID From and To fields. All transactions with
IDs between (and matching) these numbers will be listed.
5
To view a transaction in detail, click the zoom arrow (
left to view it in its original window.
) to its
To find a recurring transaction
1
Go to the Lists menu and choose Recurring Transactions.
The Recurring Transactions List window appears.
2
Locate the recurring transaction. You can:
„ sort the transactions by name, type or frequency
„ search for a transaction by name, amount or due date.
For more information on changing the details of a recurring
transaction, see ‘Recurring transactions’ on page 197.
Changing or deleting a transaction
If you want to maintain a strict audit trail, you should consider
making your transactions unchangeable by setting this
preference. An unchangeable transaction is identified by a
grey zoom arrow ( ) next to it.
If you are part way through entering a transaction, you can erase
it and start again by choosing Erase from the Edit menu.
Sometimes, however, you may need to make changes to or
delete a transaction you have already recorded. A transaction can
only be changed or deleted:
„
if it is changeable. A changeable transaction is identified by a
white zoom arrow ( ) next to it.
To check if your transaction is changeable, make sure the
Transactions CAN’T be Changed; They Must be Reversed
option is deselected in the Security tab view of the
Preferences window. Note that when you create your
company file, this preference is not selected.
194
„
if it is not dated within a locked period.
Lock periods prevent you from inadvertently making an entry
in a period in which you don’t want new entries. For example,
after you have completed end-of-month reports for January,
you might lock the period so that the balances for that month
cannot be changed. If you want to change a transaction in a
locked period, you need to unlock the period first.
CHAPTER 12
TRANSACTIONS
If you make your transactions unchangeable, you need to reverse
a transaction to cancel its effect on your accounts (see ‘Reversing
a transaction’ on page 196).
Changing a transaction
Before changing a transaction, note the following:
Some transactions cannot be changed You cannot change a
paycheque, refund cheque or a bank deposit once it has been
recorded. You can only delete or reverse these transactions. For
more information, see ‘Reversing a transaction’ on page 196.
Transaction amounts cannot be edited If you are changing a
Pay Bills or Receive Payments transaction, only the Account,
Date, Memo and transaction ID fields can be edited. You cannot
change the transaction amount.
To change a transaction
1
Find and display the transaction in its original transaction
window. For more information, see ‘Finding a transaction’ on
page 191.
2
Make the necessary changes to the transaction and then click
OK.
Deleting a transaction
have been given must also be deleted. You cannot delete a
purchase if it will result in a negative on-hand inventory count.
If you applied a supplier debit towards a purchase, you must
delete the debit before you can delete the purchase. A credit note
applied to a sale must also be deleted before the sale can be
deleted.
Group receipts in the undeposited fund transactions
account If you want to delete an individual receipt that was
recorded as part of a bank deposit of receipts grouped in the
undeposited funds account, you must first delete the bank
deposit. When you delete a bank deposit, all of the cash receipts
included in that bank deposit are returned to the Prepare Bank
Deposit window. You can then delete the required receipt from
this window.
Reconciled transactions If you delete a reconciled transaction,
your bank reconciliation will be out of balance.
GST and activity statement reporting If you delete a
transaction that must be reported on an activity statement, the
transaction details will not be included in your GST reports or in
an activity statement prepared using MYOB BASlink. Also, if you
delete a transaction from a prior GST reporting period, your GST
reported for that period may be affected.
Insufficient on-hand item quantities You cannot delete a
purchase that will result in negative inventory on-hand.
To delete a transaction
When you delete a transaction, it is permanently removed from
your records. Note the following when deleting a transaction.
1
Sales and purchases You can only delete a sale or purchase
that does not have a payment applied to it. If you have recorded
a payment for a sale or purchase, you must first delete the
payment and then delete the transaction. Any discounts that
Find and display the transaction in its original transaction
window. For more information, see ‘Finding a transaction’ on
page 191.
2
Go to the Edit menu and choose Delete [...]. For example, if
you want to delete a sale, choose Delete Sale. The
transaction will be removed permanently from your records.
CHANGING OR DELETING A TRANSACTION
195
Reversing a transaction
If your accountant wants you to maintain a strict record of all
your accounting entries, you should reverse a transaction rather
than change or delete it.
A reversal transaction is a new transaction that replicates the
original transaction, but with debit amounts shown as credit
amounts and vice versa. After posting a reversal transaction, you
have two transactions (the original and the reversal), but the
account balances appear as if the original transaction was never
posted.
A reversal transaction is automatically posted to the same
account for the same amount as the original transaction. You
cannot change the amount or account of a reversal transaction.
„
Negative inventory You cannot reverse a purchase if it will
result in a negative on-hand inventory count.
Customer and supplier payments If an early payment
discount was applied to a sale or purchase, you also need to
reverse the discount. For information about how to find a
transaction, see ‘Finding a transaction’ on page 191.
To reverse a transaction
1
Find the transaction you want to reverse. See ‘Finding a
transaction’ on page 191 for instructions.
2
Go to the Edit menu and choose Reverse [...]. For example, if
you want to reverse a sale, choose Reverse Sale. A new
transaction containing corresponding negative amounts to
that of the original transaction appears.
3
If you want, alter the date and memo. Note that you can’t
change the accounts and amounts.
Before you can reverse a transaction
You can only reverse a transaction if it is unchangeable. An
unchangeable transaction is identified by a grey zoom arrow ( )
next to it. To make your transactions unchangeable, select the
Transactions CAN'T be Changed; They Must be Reversed
option on the Security tab view of the Preferences window. You
can change this option at any time.
TIP : Recap transaction Before you record this transaction,
you can use the recap transaction feature to view the journal
entries that will be created when the transaction is recorded. To
recap, choose Recap Transaction from the Edit menu.
Reversing a transaction can affect closed periods When you
reverse a transaction, be aware of the transaction date you enter:
196
„
If you use the current date when you reverse a transaction
from a prior month, the month-end financials for the prior
month will not reflect the reversal transaction.
„
If you use the original date for the reversal transaction, your
prior month’s financials should be reprinted because they will
have changed.
If the original transaction date falls in a prior GST period,
recording the transaction on the original date may affect the
GST reportable in that period.
4
Click Record Reversal to record the reversal transaction. The
transaction is reversed and all account balances are returned
to their previous levels.
CHAPTER 12
TRANSACTIONS
Recurring transactions
If you have transactions that you record regularly—for example, a
rent cheque or purchases—you can set them up as recurring
transactions and save them for future use.
When you save a recurring transaction, you can specify how
often you want the transaction to be recorded, and for how long
you want to schedule it. For example, you can schedule your car
payments monthly, for the next 22 months.
If the transaction details are the same each time—such as a rent
payment, you can set up a recurring transaction to record
automatically. Or you can open the transaction as required, alter
the details (for example, if you make regular sales to a customer
and vary the items), and then record the transaction.
You can make the following transactions recurring: sales,
purchases, spend money, receive money and general journal
entries.
If you want to...
See
Record a recurring transaction
page 200
Record several recurring transactions
page 201
To create a recurring transaction
When you create a recurring transaction, you can select how
often you want the transaction to be recorded, and for how long
you want to schedule it. For example, you can schedule your car
payments monthly, for the next 22 months.
1
Enter the transaction details in a transaction window—such
as the Sales window—if you make regular sales to a customer.
2
Click the Save as Recurring (instead of clicking Record). The
Edit Recurring Schedule window appears.
3
In the Recurring Transaction Name field, type a name to
identify the transaction.
Setting up recurring transactions
You can create a recurring transaction in a transaction window, or
copy an existing recurring transaction to create a new one. Later
on, you can change details of a recurring transaction, or delete
one if it is no longer used.
If you want to...
See
Create a recurring transaction
below
Create a recurring transaction from an existing entry
page 199
Edit a recurring transaction
page 199
Delete a recurring transaction
page 200
RECURRING TRANSACTIONS
197
Schedule the Transaction
4
From the Frequency list select the transaction frequency.
5
In the Starting on field type the date on which the
transaction is first due.
If you want to...
then...
set a reminder
1
Click Remind.
2
Select a reminder option from the to
record this transaction list.
3
If you selected No. days in advance,
type the number of days in the adjacent
field.
4
Select the user who needs to be
reminded from the list adjacent to the
option.
5
Continue with step 7 below.
1
Click Automatically record this
transaction when due and notify.
2
Select the user who needs to be notified
from the list adjacent to the option.
NOTE : Pre-dated recurring transactions You can save a
recurring transaction with a start date prior to the system date,
provided the date entered is within the current financial year
and is not in a locked period.
6
Indicate how long you want the recurring transaction to
continue.
If you want to...
then...
schedule the transaction
for an unlimited period
Select Continue indefinitely.
schedule the transaction
until a set date.
Select Continue until this date and
type the date in the adjacent field.
schedule the transaction
for a set number of
times.
Select Perform this No. of times and
type the number of times in the
adjacent field.
automatically
record the
transaction
Select the transaction ID
7
In the Transaction section, select how you want the
transaction ID number to be created:
„ if you want the transaction ID number to be one greater
than the previous transaction ID, click Use the next
sequential number as the [...] #.
„ if you want to use a specific transaction ID, click Use the
following as the [...] #, then type the transaction ID in the
adjacent field.
8
If you want to save your changes to the recurring transaction
each time it is recorded, select the Save my changes when I
record this recurring transaction option.
9
Click Save. The transaction window appears.
10
Click Cancel to close the transaction window. The new
recurring transaction now appears in the Recurring
Transactions List window. See ‘To find a recurring
transaction’ on page 194.
Specify an alert option
In the Alerts section of the window, you can set a reminder to
record the transaction, or set for an automatic recording of
the transaction and receiving a notification when the
transaction is recorded.
NOTE : Pre-dated recurring transactions cannot be recorded
automatically If you entered a pre-dated recurring transaction
and you set a reminder date, the transaction will display as
overdue on the To Do List. Pre-dated recurring transactions
cannot be set to be recorded automatically.
198
CHAPTER 12
TRANSACTIONS
To create a recurring transaction from an existing
entry
You can create a recurring transaction by copying an existing
recurring transaction entry, then customising the details for the
new one.
1
Go to the Lists menu and choose Recurring Transactions.
The Recurring Transactions List window appears.
2
Select the recurring transaction you want to copy and click
Create Copy. The Create Copy window appears.
3
In the Card field, click the search button (
4
Select the cards you want create a copy for:
„ if you want to select all the cards, click the icon above the
select column ( )
„ if you only want to select some cards, click in the select
column next to each required card.
5
Click OK when you’ve finished selecting from the list. The
Create Copy window appears.
6
Click Save.
RECURRING TRANSACTIONS
Then...
One card
The transaction window for the new
recurring transaction appears. You can edit
the transaction details if required.
Click Save. The Recurring Transactions
List window appears.
More than one
card
The Recurring Transactions List window
lists all your recurring transactions. Each
new transaction has a unique name—the
original name suffixed by the name of the
relevant card.
7
If you need to change the schedule details or the name of a
new recurring transaction:
a Select the recurring transaction.
b Click Edit Schedule.
c Make the changes in the Edit Recurring Schedule
window.
d Click Save.
8
Click Close.
).
The Select from List window appears listing only card types
relevant to the type of recurring transaction you are copying.
For example, a purchase transaction can only be applied to
your supplier cards.
If you selected...
To edit a recurring transaction
After you’ve created a recurring transaction, you can edit the
details (such as the cheque details of a Spend Money
transaction) or edit the schedule.
1
Go to the Lists menu and choose Recurring Transactions.
The Recurring Transactions List window appears.
2
If you want to change the recurring transaction details:
a Select the recurring transaction and click Edit. The
transaction window appears for the selected type of
recurring transaction.
b Make the necessary changes.
c Click Save.
199
3
4
If you want to change the schedule of the recurring
transaction:
a Select the recurring transaction and click Edit Schedule.
The Edit Recurring Schedule window appears.
b Change the scheduling details of the transaction as
required.
c Click Save.
To record a recurring transaction from a transaction
window
1
Open the transaction window for the recurring transaction
you want to use. For example, open the Purchases window if
you are recording a recurring purchase transaction.
2
Click Use Recurring. The Select a Recurring Transaction
window appears listing only recurring transactions for this
type of transaction.
Click Close.
To delete a recurring transaction
Deleting a recurring transaction only removes it from your list of
recurring transactions. Transactions recorded previously, using
this recurring transaction as a template, are not affected.
1
Go to the Lists menu and choose Recurring Transactions.
The Recurring Transactions List window appears.
2
Select the recurring transaction you want to delete and click
Delete. An information message appears explaining that this
action will not delete any recorded transactions based on this
transaction template.
3
Click OK to delete the recurring transaction.
3
Choose the recurring transaction from the list and then click
Select. The transaction appears.
Recording recurring transactions
4
If necessary, change the date, amount, account and other
details.
For recurring transactions that are not set up to record
automatically, you need to decide when to record them. You can:
5
Click Record.
„
record a single recurring transaction from a transaction
window—see below
„
record several transactions at the same time—see page 201.
You can also record a recurring transaction:
200
„
in the Reminders window (if you use the reminders
option)—see ‘Reminders’ on page 201
„
in the Recurring Transactions List window by going to the
Lists menu and choosing Recurring Transactions.
CHAPTER 12
TRANSACTIONS
To record several recurring transactions
1
From any command centre, click To Do List. The To Do List
window appears.
2
Click the appropriate tab—Recurring Sales, Recurring
Purchases or Recurring Transactions (for all other recurring
transactions).
When a recurring transaction is due (or overdue), the Reminders
window appears.
The options available in this window depend on the status of the
selected recurring transaction (if more than one is showing). For
example, if the selected transaction has a due date of today or is
overdue, the Remind Tomorrow and Remind When Due
buttons are not available.
In the list of recurring transactions, you can click the zoom
arrow ( ) to the left of a transaction to view it in detail.
3
Click in the select column ( ) next to the recurring
transactions you want to record.
4
Click Record. A window appears requiring you to enter a date
for the selected transactions. This is the date that the
transactions will be recorded in your journals.
5
Enter a date and click OK.
The reminder options are outlined below.
Click...
If...
Skip This
Period
You don’t want to record the transaction this period.
The reminder is removed from the list.
Remind
Tomorrow
You don’t want to record the transaction today, but
want to be reminded tomorrow.
Remind When
Due
You don’t want to record the transaction today, but
want to be reminded when the transaction is next
due.
Record
You want to record the transaction now.
Reminders
You can use your software to remind you on, or before, the
scheduled date of a recurring transaction—see ‘Specify an alert
option’ on page 198. If you use this option, your software checks
the reminder dates each time you open your company file.
RECURRING TRANSACTIONS
201
202
CHAPTER 12
TRANSACTIONS
REPORTS
13 Reports
Your AccountRight software comes with many reports that will help you monitor your business. If the default set of reports do not meet your
needs, you can design custom reports with the information and appearance you want, then save these custom reports as templates to re-use
when required.
Producing reports
You can print, email or fax reports, output them to various file
formats or export them to other software for further
modifications.
If you want to...
See
display and print a report
below
save a report as a file
page 204
send a report by email
page 204
send a report by fax
page 204
view a report in Microsoft Excel
page 205
To display and print reports
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Select the report you want to display or print and click
Display. The Report Display window appears.
203
3
If you want to rearrange or resize columns:
a Make sure that Screen Report is selected in the View field.
b To rearrange a column, position the cursor over the
column header until the cursor changes to the hand icon
( ), then drag the column header to a new position.
c To change the width of a column, position the cursor over
the
icon of a column header and then drag it to change
the column’s width. Only columns that have this icon can
be resized.
4
If you want to filter the data and refine the appearance of the
report, click Customise. Customisation is explained in detail
in ‘Customising reports’ on page 206.
5
Select Print Preview from the View list in the report toolbar.
6
If you want to save the new report layout as a custom report,
click Save As. This new format will be available from the
Custom tab of the Index to Reports window.
7
Click Print.
To save reports in other formats
To send reports by email
You can save reports in various file formats (such as .pdf, HTML,
.txt, etc.) so that they can be viewed and edited in other
programs.
When you send a report by email, the report is saved as a PDF file
and attached to the body of the email message. Your recipient
needs a PDF file viewer, such as Adobe Reader, to view the report.
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Locate and select the report you want to display.
2
Locate and select the report you want to email.
3
If you want to filter the data and refine the appearance of the
report, click Customise. Customisation is explained in detail
in ‘Customising reports’ on page 206.
3
If you want to filter the data and refine the appearance of the
report, click Customise. Customisation is explained in detail
in ‘Customising reports’ on page 206.
4
Click Send To and choose one of the following file formats:
„ PDF (Portable Document Format) If you save a report
as a PDF file, the person who receives the report must have
a PDF viewer, such as Adobe Reader, to view the report.
„ HTML When you save a report in HTML (Hypertext
Markup Language) format, the report can be viewed in
World Wide Web browsers such as Microsoft Internet
Explorer.
„ Tab-Delimited Text When you save a report in
tab-delimited text format, fields in the report are separated
by tab characters. Tab-delimited text can be opened by
most word processors and spreadsheets.
„ Comma-Separated Text
When you save a report in
comma-separated text format, fields in the report are
separated by commas. Comma-separated text can be
opened by most word processors and spreadsheets.
„ Simple Text File When you save a report in simple text
format, fields are separated by spaces so the appearance of
the report is as similar as possible to a printed version of the
report. Simple text can be opened by most word
processing and spreadsheet software.
4
Click Send To and choose Email. The Email window appears.
5
If you want to, add or change the email address.
6
In the Name field, type or select the individual or
organisation you want to send the report to.
7
Enter the subject and message of the email.
8
Click Send. The email is sent to your email program’s outbox
with the report attached as a PDF file.
9
Send the email and attachment from your email program as
you would normally.
5
204
To send reports by fax
If you have fax software installed on your computer, you can send
your reports by fax. Windows XP includes fax software; for more
information, see Windows Help.
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Select the report you want to fax.
3
To limit the data that will appear in the report, click
Customise and specify the data you want. For more
information, see ‘Customising reports’ on page 206.
4
Click Send To and choose Fax.
5
Use your fax software as you normally would to send the fax.
In the Save As window, specify the file name and location,
and then click Save.
CHAPTER 13
REPORTS
To view reports in Microsoft Excel
Modifying OfficeLink templates for Microsoft Excel
In Excel, you can open reports that you have saved as
tab-delimited files, comma-separated files or unformatted text
files.
Each report in your AccountRight software has a corresponding
Excel template. All Excel templates are stored in a folder named
Spredsht, which is located in your AccountRight software folder.
You can modify these templates if you want.
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Select the required report.
3
If you want to filter the data and refine the appearance of the
report, click Customise. Customisation is explained in detail
in ‘Customising reports’ on page 206.
4
Click Send To and choose Excel. Microsoft Excel starts and
the selected report appears.
CAUTION : Use caution when modifying Excel templates If you
modify the Excel templates, do not move the [[Tbl:Body Table]]
field. This field must be located in Column B, row 15, in order for
each report’s total amounts to be calculated correctly. If you move
[[Tbl:Body Table]], the totals will be inaccurate.
Also note that if you want to perform additional calculations using
the exported report data, you should either create a macro that will
perform the calculation after the report is imported, or place your
reference fields on a separate spreadsheet and update it after the
report is imported. Please refer to your Excel documentation for
more information.
Printing report batches
A report batch is a group of reports that can be printed together.
For example, you may want to create a report batch that contains
all your regular monthly financial statements.
1
Go to the Reports menu and choose Report Batches. The
Report Batches window appears.
2
Click New. All the reports that can be batched appear.
3
Enter a name for the batch.
Some reports are excluded from batches Some reports,
such as the Reconciliation report, can’t be added to report batches
because you need to specify information to be printed each time
you want to print the report. Saved custom reports are also
excluded.
NOTE :
To create a report batch
CAUTION : Single-user access required
If you share your company
file on a network, you should note that this task requires single-user
access. For more information, see ‘Single-user file locking for special
tasks’ on page 286.
PRINTING REPORT BATCHES
205
4
Click each report you want to include in the batch. A tick
appears to the left of each selected report.To remove a report
from the batch, click the report name a second time.
3
Choose a report batch for printing and click Print. Each
report in the batch is printed.
5
Click OK. The Report Batches window appears again with
the name of the new batch in the scrolling list.
To change a report batch
1
Go to the Reports menu and choose Report Batches. The
Report Batches window appears.
2
Select the batch you want to change and click Edit. The
New/Edit Batch window appears.
3
Change the batch name, if necessary, and the reports
contained in the batch. (Click a report to select or deselect it.)
You can choose any of the months or quarters in the current
financial year, or you can choose to print information for the
entire year to date.
4
Click OK to save your changes.
Your selection in the Period list affects different types of
reports in different ways. For example, if you choose January,
activity reports will show job activity information from
1 January to 31 January and balance sheet reports will show
information as of 31 January.
1
Go to the Reports menu and choose Report Batches. The
Report Batches window appears.
2
Select the name of the batch you want to delete.
3
Go to the Edit menu and choose Delete Batch.
To print a report batch
1
Go to the Reports menu and choose Report Batches. The
Report Batches window appears.
2
Select the relevant period from the Period list.
To delete a report batch
Customising reports
You can change the look and content of reports. For example,
you can filter the amount of information that appears in reports,
add additional fields and change the appearance.
You can customise a report for once-off use and print it
immediately. Then, when you close the report, it will revert the
report to the original settings. However, If you want to retain a
report’s modifications, you can save it as a customised report.
When you save a customised report, it appears in the Custom
view of the Index to Reports window.
206
Follow the tasks below to customise a report:
Task
See
1
Select the data to be printed
page 207
2
Select the required fields
page 208
3
Select finishing options
page 209
4
Change the report format
page 209
5
Print the report
page 210
6
Save the report
page 210
CHAPTER 13
REPORTS
Task 1: Select the data to be printed
You can filter the amount of information that appears in your
reports by choosing which categories or ranges of data should be
included. For example, if you want to print a Customer
Payments (Closed Invoices) report for a customer for the
months May to July, you can use filters to select just that
customer and just those months.
To filter reports in the Report Customisation window
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Locate and select the report you want to customise.
3
Click Customise. The Report Customisation window
appears.
The customisation options that appear depend on the report
being customised. The example below shows the options
available for the Closed Invoices report (which is one of the
Sales reports).
You can filter the information that appears in a report in either
the Report Customisation window or the Report Display
window.
To filter reports in the Report Display window
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Locate and select the report you want to customise.
3
Click Display. The Report Display window appears.
4
Filter the report by making the required entries and selections
in the toolbar that appears in the top section of the Report
Display window. (Some reports do not have selection
options.)
5
A
B
Click Redisplay. The report is refreshed with the new filtering
options applied. To make further filtering selections, see
below.
4
CUSTOMISING REPORTS
A
The top section of the window enables you to limit the report
to:
• a particular customer, supplier or employee
• records with particular values in custom lists.
B
The bottom section has three tabs—Advanced Filters, Report
Fields and Finishing.
The Advanced Filters tab lets you specify further limits on the
data displayed (such as limiting records to those within a date
range). The other two tabs are described later (see ‘Select the
required fields’ on page 208 and ‘Select finishing options’ on
page 209).
Refine your search criteria in the Advanced Filters tab.
207
Using wildcards to filter reports
Wildcards are special characters that give you more flexibility
when selecting which records, such as account numbers and
invoice numbers, you want to include in a report.
You can use two wildcard characters, the asterisk (*) and the
question mark (?), in the Report Customisation window.
„
Task 2: Select the required fields
In the Report Fields tab of the Report Customisation window,
you can choose which fields to include in the report. For
example, if you want to print the name of the salesperson in a
sales report, you can add the salesperson field.
1
Click the Report Fields tab.
Asterisk: Use the asterisk in the Report Customisation
window if you want to print a report for a specific group of
records.
Example 1—If you want to print an Account Transactions
report for all accounts whose account numbers begin with 1,
you can use the asterisk wildcard to do so.
To include accounts whose numbers begin with 1, enter 1* in
the Selected field in the Report Customisation window for
the Account Transactions report.
A
Example 2—If you have several items whose numbers end in
SVC (to indicate the items are service items), you can enter
*SVC in the Selected field to print a report that includes only
the items whose numbers end in SVC.
„
B
Question mark: The question mark wildcard allows you to
limit your report to elements that contain only a specific
number of characters.
Example 3—You want to print a Job Transactions report for
the Cadwell Corporation. All Cadwell job numbers are three
characters long and begin with the letter C. However, you
have other jobs that start with the letter C and you don’t want
those jobs to appear on the report. In the Selected field of the
Job Transactions report’s Report Customisation window,
enter C?? to limit the report to three-character jobs that begin
with C.
2
208
A
Fields in the Available Fields column are those that are available
for the selected report. To include a field in a new report, select
the field by clicking in the select column ( ). This adds the
field name to the Selected Fields column.
B
Fields in the Selected Fields column are those that will be
printed on the selected report. From the top down, the
sequence of fields in this column is in the order the fields will
appear in the report. The first field will appear as the leftmost
column of the report, the second field will appear in the next
column to the right, and so on.
If you want to change the order in which the fields are printed,
display the report and choose Screen Report from the View
list. You can then drag the column headers to new positions.
See ‘Producing reports’ on page 203.
Select the fields you want appearing on the report.
CHAPTER 13
REPORTS
Task 3: Select finishing options
Task 4: Change the report format
The Finishing tab of the Report Customisation window
provides a number of miscellaneous options, such as what
default text to add to the report, whether you want the report
added to the Reports menu, and so on. These options vary
depending on which report you select.
You can modify the look of the report by choosing different font
styles, sizes, colours, alignments and effects, and by changing the
report’s page margins.
1
Click the Format button in the Report Customisation
window. The Report Format window appears.
To select finishing options
1
Click the Finishing tab.
A
C
D
B
2
3
4
If you want to add the customised report to the Reports
menu so that you can re-use these customised settings, select
the Add to Reports Menu option.
If you are on a network and want to prevent data from being
changed while the report is being generated, select the
Prevent Data Changes During Report Generation option.
This will prevent other users from recording transactions or
making other changes in the company file while the report is
being printed.
Make any other entries or selections that apply to the report.
CUSTOMISING REPORTS
2
A
Click the Report Line list, choose the section of the report you
want to customise and then change the formats as required.
B
If you have formatted a report and want to change it back to its
original format, click Default.
C
The right side of the Report Format window shows a preview of
each report section.
D
To change the report’s margins, make entries in the margin
fields.
When you have finished formatting the report, click OK.
209
Task 5: Print the report
1
Click Display to display the report.
2
If you want to see how the report will look when printed,
select Print Preview from the View list.
3
To print the report, click Print.
Task 6: Save the report
If you plan to use a report’s design and format again, you can
customise the report once, save the changes and then re-use the
report whenever you want. Once saved, you can access your
custom report from the Custom tab in the Index to Reports
window.
1
With the report displayed, click Save As. The Save As window
appears.
2
Enter a name and a brief description of the custom report and
click OK. The Report Display window appears again.
3
Click Close. The Index to Reports window appears.
Changing the default fonts on reports
Every report is assigned default fonts. You can change these
default fonts if you prefer your reports to have a different
appearance.
1
Go to the File menu and choose Default Fonts. The Default
Font Selection window appears.
2
Click Reports. The Report Format - All Reports window
appears.
3
Choose the font style and size for the printed characters on
your reports. The sample box previews the appearance of
your choices.
4
Click OK when you have finished.
Changing the default fonts will not affect the fonts on any
custom report.
NOTE :
Note that the report you have just saved is now listed in the
Custom tab. You can run the report again by selecting it from
the Custom tab.
Custom reports are stored in a special folder When you
save a custom report, the report’s customisation information is
stored in a folder called Custom, which is located in your
AccountRight software installation folder. If you delete or rename
this folder, you won’t be able to use your custom reports.
Removing saved reports from the Custom tab of the Index
to Reports window If you want to remove a customer report,
select the report in the Custom tab of the Index to Reports
window and select Erase Custom Report from the Edit menu
210
CHAPTER 13
REPORTS
FORMS
14 Forms
You can print all the standard business forms you send to customers, employees and suppliers: quotations, order confirmations, invoices, packing
slips, shipping labels, statements, bills, cheques, remittance advices, receipts, pay slips and mailing labels.
In your AccountRight software, you can print forms individually as you complete a transaction (for example, an invoice for a cash sale) or print
batches of forms (for example, a monthly cheque run for supplier payments). When printing batches, choose which forms to print by applying
selection criteria. For example, you can choose to print statements only if the balance of the customer’s account is not zero.
You can also print forms onto stationery with a preprinted logo and contact details or use plain stationery and include your business name and
contact details. If you already have preprinted stationery, you can still customise the appearance of your forms. Invoices and statements are those
most commonly customised, but cheques, bills and labels can also be customised. You can change the size of the form, print multiple forms on a
single page, change fonts, move fields, create text labels, and add your own logos and graphics. You can also create multiple forms of one type,
for example, one invoice with your logo and another without it.
Note that your forms are stored in their own Forms folder within the program’s installation folder. This allows you to share forms among your
company files and easily transfer them from one computer to another.
211
Finding forms
Forms are accessed from the command centre of the associated
transaction. For example, sales forms can be accessed from the
Sales command centre.
To find forms
1
2
Go to the appropriate command centre, for example, Sales
for invoice forms.
Find the type of form you want and click the relevant
command centre function. See the following tables.
Banking command centre
Type of form
Function
Cheques
Print Cheques
Receipts
Print Receipts
Remittance Advices
Print/Email Remittance Advices
Sales command centre
212
Type of form
Function
Invoice forms
Print/Email Invoices
Packing slips
Print/Email Invoices
Labels
Print/Email Invoices
Statements
Print/Email Statements
Receipts
Print Receipts
Purchases command centre
Type of form
Function
Purchase forms
Print/Email Purchase Orders
Cheques (payable)
Print Cheques
Remittance Advices
Print/Email Remittance Advices
Payroll command centre
Type of form
Function
Cheques
Print Paycheques
Payment summaries
Print Payment Summaries
Pay slips
Print/Email Pay Slips
Card File command centre
Type of form
Function
Mailing labels
Print Mailing Labels
Personalised letters
Create Personalised Letters
CHAPTER 14
FORMS
Sending forms
You can send forms when you record a transaction, or later, in a
batch.
„
Sales—select either To be Emailed, To be Printed or To be
Printed and Emailed in the Invoice Delivery Status field in
the Sales window.
„
Purchases—select either To be Emailed, To be Printed or To
be Printed and Emailed in the Bill Delivery Status field in
the Purchases window.
„
Remittance advices—select either To be Emailed, To be
Printed or To be Printed and Emailed in the Remittance
Advice Delivery Status field in the Spend Money, Settle
Returns & Credits or Pay Bills windows.
Sending forms when you record a
transaction
You can print, email or fax forms as you enter individual
transactions in the Sales and Purchases window.
You can also print or email remittance advices or cheques when
you record transactions in the Spend Money, Pay Bills or Settle
Returns & Credits windows.
Automatically print, email, fax or save You can set up
preferences so you can automatically print, email, fax or save sales
and purchases when you record them. Select the required option in
the Sales or the Purchases tab of the Preferences window.
TIP :
Sending forms in a batch
Instead of printing each form in the transaction window when
you record it, you can select a delivery status option to print or
email sales, purchases and remittance advices later, in a batch.
After you have completed a number of transactions, say, the
invoices for the day, you can print or email a transaction batch.
See ‘To print forms’ on page 214 and ‘To email forms’ on
page 214.
If you selected the To be Printed and Emailed delivery status,
you need to complete both procedures.
To do this, select from the following options in these transaction
windows.
SENDING FORMS
213
To print forms
1
Click the command centre function for the forms you want to
print. For example, if you want to print a a sales invoice, go to
the Sales command centre and click Print/Email Invoices.
2
Click the To Be Printed tab.
1
Click the command centre function for the forms you want to
print. For example, if you want to email a remittance advice,
go to the Purchases command centre and click Print/Email
Remittance Advices.
2
Click the To Be Emailed tab.
3
Make a selection in the [...] Type field. For example, if you
want to print item invoices, select Item.
3
4
Click in the select column next to a transaction you want to
print. If you want to print all the transactions, click the icon in
the heading of the select column ( ).
Make a selection in the [...] Type field. For example, if you
want to email a remittance advice to a supplier, select Pay
Bills.
4
Click in the select column next to the transaction you want to
email. If you want to email all the forms, click the icon in the
heading of the select column ( ).
5
If you want to view the transaction details, click the zoom
arrow ( ) next to the transaction.
6
If you want to change a recipient’s email address, select their
name and click the down arrow next to the Email Address
field and select another address from the card. Alternatively,
type the address in the Email Address field.
7
Enter a subject title and message or accept the default title
and message. If you want to change the default title and
message, click Email Defaults.
5
If you want to view the transaction details, click the zoom
arrow ( ) next to the transaction.
6
Type the number of copies you want to print in the Print [...]
Copies field. If you also want to print packing slips or mailing
labels, type the number of copies in the Packing Slips and
Labels fields.
7
8
214
To email forms
If you want to filter the transaction information or change the
type of stationery the forms will be printed on, click
Advanced Filters. For more information, see ‘Advanced
filters’ on page 215.
Click Print.
CHAPTER 14
FORMS
8
9
If you want to change the type of information you are going
to email or the type of stationery it will appear on, click
Advanced Filters. For more information, see ‘Advanced
filters’ below.
Select the stationery
4
In the Selected Form for [...] field, select the stationery you
want to use when you print or email your forms.
Click Send Email.
Advanced filters
Several stationery choices are available, depending on the
type of form you are currently working with.
You can filter the amount of information and change the
stationery you use when you print or email a form. You can do
this in the Advanced Filters window.
1
Click Advanced Filters in the Review [...] Before Delivery
window. The Advanced Filters window appears.
Stationery
Select this for...
Preprinted
Select the preprinted stationery to print on paper
that already contains lines, columns and headings.
The preprinted stationery is designed to match
most commonly used forms provided by
third-party forms suppliers.
Note that this type of stationery is not suitable for
emailing forms.
Plain paper
Select plain-paper stationery if you want to print on
blank paper. Lines, columns and headings are
automatically printed with the form’s information.
Customised
Select any customised stationery forms if you want
to print or email a form you have already
customised. See ‘Customising forms’ on page 216
for more information about customising forms.
Select the transactions
2
Select the transaction type and specify if you want to sort by
all cards or a selected card.
If you are using continuous-feed paper or pre-printed
stationery. If you want to test the alignment of the
information that will be printed using sample data, click Print
Alignment Form.
TIP :
3
If you want to filter the transactions to be included, select
from the options in the middle section of the window. For
example, enter a date range or reference number range.
SENDING FORMS
5
When you have finished making your selections in the
Advanced Filters window, click OK. The Review [...] Before
Delivery window reappears, displaying records according to
your filter criteria.
215
Customising forms
You can change the look and content of printed cheques, pay
slips, invoices, packing slips, purchase orders, statements, bills
and mailing labels. You can also change the size of a form, add
text labels, draw lines and boxes, paste graphics on the form,
move fields, change the size of fields, and more. Then you can
save your customised stationery so that you can select it when
you print the form.
NOTE : Creating customised pay slips You create a pay slip by
customising a cheque form and including only the paycheque stub
section on the form. You can print the pay slip even if you don’t pay
your employees by cheque.
If more than one user is accessing a company file you should:
„
create custom forms in the Forms folder on the host
computer on which the company file is stored
„
copy custom forms from the host computer to the Forms
folder on each workstation that accesses the company file.
Task
See
5
Save the customised form
page 218
6
Print the customised form
page 218
Task 1: Display the form
1
Go to the Setup menu, choose Customise Forms and choose
the type of form you want to customise. The Customise
Forms window appears.
2
Select the form you want to customise in the Form to
Customise field and click Customise. The Customise [...]
window appears.
A
B
C
D
Back up forms Back up the Forms folder before
customising any forms so you can always revert to the originals.
CAUTION :
Do these tasks to create, save and print customised forms:
Task
216
See
1
Display the form
below
2
Set up form properties
page 217
3
Adding and editing elements
page 217
4
Preview the customised form
page 218
A
Tool palette
The tool palette provides you with
customisation tools.
CHAPTER 14
FORMS
B
Preview
Click the Preview button to view your form on
screen.
C
Layout list
Select the required layout for a cheque stub.
(Cheque forms only.)
D
Data fields
Data fields contain system-generated
information.
Cheques have two parts A cheque form has two parts: the
cheque itself and the stub. You customise the cheque and the stub
separately. In the Customise Cheques window, select the
appropriate stub layout in the Layout field. For example, the
Regular layout is assigned to cheques recorded in the Spend
Money window and the Payable layout is assigned to cheques
recorded in the Pay Bills window.
Set up the paper and form sizes
2
NOTE :
Set up the grid and add a background graphic
3
In the Options tab:
a Select the grid options for the form, such as whether to
display a grid, the size of the grid and whether to use the
snap-to-grid feature for aligning fields.
b Select the background for the form by clicking Insert
Background and selecting the image file to use as the
form’s background.
c If you have chosen a background image, select where you
want the image to be displayed on the form.
4
Click OK.
Task 2: Set up form properties
1
Click the form properties button in the tool palette of the
Customise [...] window.
The Form Properties window displays two tabs: the Layout
tab and the Options tab.
In the Layout tab:
a Type the number of forms you want to print per page.
b Select the required type of paper from the Paper list.
c Enter the margins for the page.
d Type the width and length of the form (not the paper) in
the Form Size fields. For example, if you are printing four
cheques per A4 page, enter the width and length of a
single cheque, not the width and length of the A4 page.
Task 3: Adding and editing elements
Add, remove or edit elements—such as text, graphics and
lines—according to your needs. For more information, see
‘Adding and editing graphic elements’ on page 221.
CUSTOMISING FORMS
217
Task 4: Preview the customised form
Changing the default fonts on forms
At any time during the customisation process, you can display a
screen preview of your work.
Every form in your software is assigned default fonts. You can
change these default fonts if you prefer your forms to have a
different appearance.
1
Click the Preview button in the tool palette of the Customise
[...] window.
1
Go to the File menu and choose Default Fonts. The Default
Font Selection window appears.
2
Click Forms. The Change Default Forms Font window
appears.
3
Choose the font style and size for the printed characters on
your forms. The sample box previews the appearance of your
choices.
4
Click OK when you have finished.
The form is displayed in the Print Preview window.
2
If you want to view the form in more detail, alter the default
value (75%) of the Zoom field and press TAB.
3
If you want to check your current printer and page settings,
click Print Setup.
4
When you have finished previewing the form, click Close in
the Print Preview window.
Task 5: Save the customised form
When you are satisfied with the changes you have made to the
form, you should save the customised form.
If you want to save changes to a custom form you created
previously, click Save Form.
If you want to create a new custom form stationery that contains
the changes you have made, click Save Form As. The Save As
window appears. Enter a name and a brief description for the
new layout and click OK.
Task 6: Print the customised form
Printing a customised form is the same as printing an unchanged
form. However, before you can print using your customised form,
you need to select the form in the Selected Form for [...] field in
the Advanced Filters window.
218
CHAPTER 14
FORMS
Adding and editing elements
There are a number of different elements you can edit, see:
„
‘Adding and editing data and label elements’ below
„
‘Adding and editing graphic elements’ on page 221
„
‘Editing all elements with common commands’ on page 222
Adding and editing data and label
elements
You can add elements to a form, and change elements on a form,
using the buttons on the tool palette shown below:
The column on the right indicates the field type (Data,
Column) and where it appears on a form. For example, the
Total field only appears on the last page.
2
Click the fields you require.
3
Click OK. The selected data fields appear on the form. Their
position depends on a number of factors, such as the number
of records they can display, previous cursor position and
other fields already on the form.
You can move a field to a better position—see ‘Editing all
elements with common commands’ on page 222.
forms.
If you want to change the properties of a data field,
double-click it. The Field Properties window appears.
To add a data field to a form
The Field Properties window has two tabs: the Layout tab
where you specify the text, format, background colour,
location and size of the field, and the Borders tab where you
specify the layout, colour and width of the field’s borders.
NOTE :
1
Layout selection
The Layout list only appears for cheque
Click the add data button (
). The Select from List
window lists all the data fields available for the form you
selected.
ADDING AND EDITING ELEMENTS
4
5
Change the properties as required and click OK.
219
To add a text label to a form
1
Click the add text button ( ) and then click on the form
where you want to place the text field. A new text label
named Text Field appears.
2
Double-click the new label. The Field Properties window
displays the Layout tab where you specify the name, location
and size, text format and background colour of the label, and
the Borders tab where you specify the layout, colour and
width of the label’s borders.
3
Click OK to close the Field Properties window. The new label
appears in the Customise window.
To change the font style of a data field or text label
1
Double-click the data field or text label to be changed. The
Field Properties window appears.
2
Click Text Format. The Text Format window appears.
3
Make your choices in the Font, Font Style, Size, Justify and
Effects fields.
4
If you want to change the font colour:
a Click Font Colour. The Colour window appears.
b Select the new colour and click OK. The Text Format
window reappears.
5
Click OK.
If the name is longer than the size of the label, you may need to
resize it—see ‘Editing all elements with common commands’ on
page 222.
To change the name of a text label
220
1
Double-click the text label. The Field Properties window
appears.
2
Change the name in the Text field on the Layout tab.
3
Click OK.
CHAPTER 14
FORMS
Adding and editing graphic elements
You can also add graphic elements to a form: rectangles to
visually group elements, lines to separate elements, icons, logos,
photos, location maps and other graphic elements.
To add a graphic file to a form
To paste a graphic element into a form
You can paste almost any graphic that can be placed on the
clipboard into a form, regardless of its graphic format.
1
Open your graphic file in any graphics software.
2
Copy the graphic to the clipboard.
3
1
Click the add graphic button ( ) in the Customise window
and then click on the form where you want to place the
graphic. A new graphic element appears.
Click the add graphic button ( ) in the Customise window.
Then click the location on the form where you want the
graphic to appear. A graphic element appears.
4
2
Double-click the graphic element. The Field Properties
window appears.
Double-click the graphic element. The Field Properties
window appears.
5
Click Paste Picture. The graphic appears in the Preview
Picture area.
6
Type the field location and element size for the graphic.
7
Click OK. The graphic appears in the Customise window.
To draw a line on a form
You can draw a vertical or horizontal line on a form.
3
Click Load Picture. The Open window appears.
4
Select the graphic file and click Open. The Field Properties
window displays the graphic in the Preview Picture area.
5
Type the field location and field size for the picture.
6
Click OK to close the Field Properties window. The picture
appears in the Customise window.
ADDING AND EDITING ELEMENTS
1
Click the draw line button ( ) and then click and hold the
mouse at the location on the form where you want the line to
begin.
2
Drag to where you want the line to end and then release the
mouse button.
To draw a rectangle on a form
1
Click the rectangle button (
).
2
Click and hold the mouse at the location on the form where
you want the top left corner of the rectangle to appear.
3
Drag to the right and down to where you want the rectangle
to end and then release the mouse button.
221
To change the thickness of a line or rectangle
1
Double-click the line or rectangle. The Field Properties
window appears.
2
Choose a thickness in the Line Size section of the Field
Properties window.
3
Click OK.
Editing all elements with common
commands
To…
Do This…
Change
coordinates
1
Double-click the element you want to move.
The Field Properties window appears.
2
In the Field Location fields on the Layout
tab, enter the distance from the top and left
edges of the form to the top left corner of the
element.
3
Click OK.
1
Click the element once to select it. Small
squares, called handles, appear on the
element.
2
Drag a handle to change the size of the
element.
1
Select the element you want to send behind
another element.
2
Click the send to back button (
1
Select the element you want to bring in front
of another element.
2
Click the bring to front button (
Resize
The following editing procedures are applicable to any element.
To…
Do This…
Copy and paste
1
Click an element once to select it.
2
Go to the Edit menu and choose Copy.
Note that if you want to paste the element
onto another form, display that form in the
Customise window.
3
222
Go to the Edit menu and choose Paste. A
copy of the element appears in the window.
Delete
Select the element and press BACKSPACE or DELETE
on your keyboard.
Undo last change
To undo the last change you made to the current
form, either click the undo button (
) or press
CTRL + Z.
Drag and drop
1
Click the element and hold down the mouse
button. Notice that the cursor changes to a
hand pointer.
2
Drag the element to the desired location. In
the example below, the [Invoice #] data field
is being dragged below its original position.
Send to back
Bring to front
).
).
There are also procedures specific to particular kinds of
elements—see ‘Adding and editing graphic elements’ on
page 221.
CHAPTER 14
FORMS
The Card File is a repository of contact records, known as cards, that you can create for your customers, suppliers, employees and personal
contacts. A card lets you store contact information and enables you to track and analyse the transaction history for each individual and business.
Creating a card
You need to create a card for an individual or business if you want
to perform any of the following tasks:
„
record sales and track the amounts owing to you
„
record purchases and track the amounts owing to suppliers
„
print mailing labels
„
print personalised letters
„
record contact details.
To add a personal card
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click New. The Card Information window appears.
3
Select Personal from the Card Type list.
4
Type the name for the card and press TAB.
5
If you want to, complete the other fields in the Profile tab.
When you set up your company file, you may have created cards
for your customers and suppliers. In addition to these cards, you
can create employee cards and personal cards for your friends
and relatives.
If you want to create a card for…
See
a customer
page 65
a supplier
page 89
an employee
page 116
a friend or relative
below
223
CONTACT MANAGEMENT
15 Contact management
6
Click the Card Details tab. In this tab, you can:
„ add a picture—see ‘Card pictures’ on page 238.
„ enter identifiers—these are useful for grouping your cards.
See ‘Card identification codes’ on page 237.
„ use custom lists and fields—you can record additional
information about the card. See ‘Customising cards’ on
page 237.
7
When you have finished entering the card details, click OK to
save the card and close the Card Information window.
Keeping in touch with your contacts
There are a number of features you can use to help you stay in
touch with your customers, suppliers, employees and personal
contacts. You can create personalised letters from templates,
send emails, enter contact log entries and create mailing labels.
Personalised letters
You can create personalised letters (also known as mail-merge
letters) for any of your contacts. A personalised letter is a
document template that contains standard text as well as fields
that can be automatically filled with data stored in your company
file.
224
Personalised letters are useful when you need to send the same
letter to several contacts. For example, you may want to send
several slow-paying customers a payment reminder letter.
Instead of entering each contact’s information on the letters
yourself, you can set up a letter template that contains the text
you want to appear, and insert data fields that automatically fill in
the contact’s name, address and the amount owing.
Printing personalised letters using Microsoft Word and
OfficeLink OfficeLink is a feature that automates the process of
merging contact information stored in your company file with a
Microsoft Word template (a .dot file). Your AccountRight
software includes a set of templates that you can use, and they
are stored in the Letters folder, which is located within your
software’s program folder.
CHAPTER 15
CONTACT MANAGEMENT
The following table summarises the templates provided with
your software.
Use this
template...
Apology.dot
Backordr.dot
When you want to...
apologise for a problem your company has caused
for a customer, and to assure the customer that the
problem will be addressed.
let your customers know that items they’ve ordered
are on backorder and will be shipped as soon as
possible.
Blank.dot
write your own letter.
BounceCk.dot
notify customers whose payments have bounced.
Coll_1st.dot
remind customers whose accounts have become
overdue to make a payment.
Coll_2nd.dot
express greater urgency than Coll_1st.dot and
request that your customer contact you
immediately.
Coll_3rd.dot
Coll_fin.dot
You can edit these templates and create new ones using the
mail-merge features of Microsoft Word. For information about
working with mail-merge templates, see Microsoft Word Help.
To print a personalised letter using Microsoft Word
1
Go to the Card File command centre and click Create
Personalised Letters. The Review Cards Before Exporting
window appears.
2
Click in the select column next to each contact to whom you
would like to send a personalised letter.
Filter your contacts You can filter your contact list, for
example, to only show contacts located within specific
postcodes. To do this, click Advanced filters and enter your
filtering criteria.
TIP :
3
Click Mail Merge. The Select from List window appears.
4
Select the template you would like to use and then click Use
Template.
encourage customers who have overdue payments
to make a payment before their credit history is
damaged.
advise customers that you will turn their account
over to a collection agency if payment isn’t made
within a specified number of days.
Credit
Application.dot
enable your customers to formally apply for credit.
FaxCover.dot
create a fax cover page. This page includes room for
a memo.
Resolved.dot
reply to customers who have questioned an amount
on their monthly statement. This letter indicates that
you are looking into the matter and that you will
credit the customer’s account for the amount in
question while the matter is investigated.
Superannuation
employee
privacy.dot
notify an employee that you are passing on personal
details to their superannuation fund.
ThankYou.dot
thank new customers for their business.
KEEPING IN TOUCH WITH YOUR CONTACTS
Your letter appears in Microsoft Word, and depending on the
template you have selected, you will be prompted to enter
additional information, such as your name and title.
5
Edit the letters as required and then print them using
Microsoft Word.
225
To print a personalised letter using other word
processors
To use a mail-merge letter template created in a word processor
other than Microsoft Word, you export the contact data out of
your company file and then merge that data with the letter.
1
Go to the Card File command centre and click Personalised
Letters. The Review Cards Before Exporting window
appears.
2
Select the contacts to whom you would like to send a
personalised letter.
Filter your contacts You can filter your contact list, for
example, to only show contacts located within specific
postcodes. To do this, click Advanced filters and enter your
filtering criteria.
TIP :
3
Click Disk. A window with a list of file formats appears.
4
Choose either the Tab-Delimited Text File or
Comma-Separated Text File option.
NOTE : Check what file formats your word processing
software requires Most word processing software allows
mail-merge data to be tab-delimited (data is separated by tabs)
or comma-separated. If your software requires a specific format,
choose that format at this step.
5
Click Save. The Save As window appears.
6
If necessary, change the text file’s name and location and
then click Save.
The text file containing your contacts’ details is saved at the
location you specified.
7
226
Use your word processing software to merge the data
contained within the text file with a letter template that you
have created.
Mailing labels
If you print and send cheques, quotes, orders, invoices,
statements or personalised letters you may also want to print
mailing labels that you can stick on the envelopes.
The Print Mailing Labels function in the Card File command
centre prints your contact’s name and address on sheets of
adhesive mailing labels. You customise the way mailing labels are
printed, including their size, the number of labels per sheet and
the margins. For information about customising mailing label
forms, see ‘Customising forms’ on page 216.
To print mailing labels
1
Go to the Card File command centre and click Print Mailing
Labels. The Review Labels Before Printing window appears.
Print invoices and labels simultaneously When you
print a batch of invoices using the Print/Email Invoices function
in the Sales command centre, you can choose to print a label
for each invoice.
TIP :
2
Click Advanced Filters. The Advanced Filters window
appears.
3
From the Selected Form for Mailing Label list, select the
form template that best matches the size and layout of your
labels and label sheets.
4
Make any other selections in the Advanced Filters window as
required (for example, you may want to filter your contacts
list to only those living within a specific postcode) and then
click OK.
5
Click in the select column next to each contact for whom you
would like to print a mailing label.
6
Ensure you have enough mailing label sheets set up at your
printer and then click Print.
CHAPTER 15
CONTACT MANAGEMENT
Contact log
The contact log enables you to keep a detailed log of all the
phone calls you and your contacts make to each other, and any
other type of correspondence.
For example, let’s say that you call customer A regarding an
overdue invoice. You could create a log entry that records the
date of the phone call, a summary of the outcome, and the date
you will want to recontact them by if their invoice is still
outstanding.
When a customer or supplier calls, you can use the contact log to
retrieve a complete history of your business relationship with that
contact.
Name
The name of the contact. To view the contact’s card,
click the zoom arrow.
Contact
Type the name of the person that is associated with
this entry. For example, you can record the name of
the person you spoke to on the phone.
If you have specified a contact person in the contact’s
card, you can click the down-arrow to choose that
person.
Date
Type the date you spoke to or wrote to the contact. If
you are simply entering an appointment or reminder,
you can enter today’s date.
Notes
Enter any information you want to save about the
conversation or follow-up.
Elapsed
Time
If you want to record the time you spend speaking to
the contact, or working on a particular task related to
the entry, type the time in hours and minutes. For
example, if you spend 15 minutes, enter 15. If you
spend 1 hour and 15 minutes, enter 1:15.
Recontact
Date
If you want to be reminded to follow up the contact,
type or select the date you want to be reminded to
recontact them. The reminder will appear in the
Contact Alert tab of the To Do List on this date. For
more information, see ‘Reviewing your contact
information’ on page 239.
Log
View all contact log entries for the selected contact.
New
Record the current log entry and to create a new entry
for this or another contact.
Note that you can also automatically create contact log entries
for each sale, purchase, payment and receipt you record. For
more information, see ‘To automatically create contact log
entries’ on page 228.
To create a contact log entry
1
Go to the Card File command centre and click Contact Log.
The View Contact Log window appears.
2
From the Name list, select the contact for whom you want to
create a log entry and click Use Card.
3
Click New. The Contact Log Entry window appears.
4
Complete the Contact Log Entry window as described in the
following table.
KEEPING IN TOUCH WITH YOUR CONTACTS
227
Automatic contact log entries You can choose to
automatically create log entries each time you record a sale,
purchase or banking transaction. The log entry contains basic
information about the transaction, such as the invoice number,
cheque number and the amount.
Your company file’s size may increase significantly If you
record many transactions and choose to automatically create log
entries for them, the size of your company file may increase
significantly. If the company file size becomes an issue, you can
purge old contact log entries and other data. For more information
about purging information, see ‘Purging information that is no
longer needed’ on page 283.
NOTE :
To view the contact log
1
Go to the Card File command centre and click Contact Log.
The View Contact Log window appears.
2
From the Name list, select the contact for whom you want to
view the contact log.
3
If you want to view or edit the detail of a log entry, select the
entry and click Edit, or click the zoom arrow next to it.
Other ways to keep in touch
To send an email message to a contact
To automatically create contact log entries
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the zoom arrow next to the name of the contact you
want to email. The Card Information window appears.
3
In the Location field, select the address to which you want to
send the email.
4
If you want to create an automatic contact log entry for each
receipt you record, select the Make Contact Log Entry for
Every Deposit option.
If an email address is entered in the field, click Actions and
choose Send Email. The Email window appears.
5
The Email Address field displays the name and email address
from the card. You can change these if you wish.
5
Click the Sales tab.
6
6
If you want to create an automatic contact log entry for each
sale you record (including quotes and orders), select the
Make Contact Log Entry for Every Sale option.
Enter a message and click Send. The email is sent to your
default email program’s outbox. Send the file from your email
program as you normally do.
7
Click the Purchases tab.
8
If you want to create an automatic contact log entry for each
purchase you record (including quotes and orders), select the
Make Contact Log Entry for Every Purchase option.
1
Make sure your computer is connected to the Internet.
2
In the Card Information window, display the Profile view of
the contact.
Click OK to close the Preferences window.
3
If a website is listed in the Website field, click Actions and
choose View Website.
4
Your contact’s website will appear in your web browser.
1
2
Click the Banking tab.
3
If you want to create an automatic contact log entry for each
payment you record, select the Make Contact Log Entry for
Every Cheque option.
4
9
228
Go to the Setup menu and choose Preferences. The
Preferences window appears.
To access a contact’s website
CHAPTER 15
CONTACT MANAGEMENT
View a contact on a map
3
To view a contact’s location on a map
1
Make sure your computer is connected to the Internet.
2
In the Cards List window, select the card whose location you
want to view.
Click Actions and choose:
TM
„ View in Google Maps
. Your web browser window will
appear, showing the location of your contact on a street
map.
„ View Directions. Your web browser window will appear,
displaying a street map with directions from your primary
business location to the contact’s address.
Grouping your contacts
You can group and sort your contacts according to common
attributes by assigning identifiers to their cards and the
appropriate attributes from custom lists you have defined.
Grouping contacts using these features makes it easier for you to:
„
filter reports to show only information specific to a group of
contacts
„
identify which of your contacts have a particular attribute
„
filter lists so that it’s easier for you to send a batch of
personalised letters, customer statements and other forms to
a group of contacts.
Identifiers
You can also assign multiple identifiers to a card. For example, say
you assign O to your overseas customers and W to your
wholesale customers. If you have overseas wholesale customers
you can assign them the OW identifiers. You can then filter a
report to only show your overseas wholesale customers by
specifying the OW identifiers in the Report Customisation
window.
To define identifiers
1
Go to the Lists menu and choose Identifiers. The Identifiers
window appears. It provides a field for each of the 26 letters
of the alphabet.
2
Enter a description for as many identifiers as you want and
click OK.
Identifiers are one-letter labels you can assign to cards.
When you create reports or view card lists, you can limit the
information to a particular group of cards by specifying the
identifiers that you’ve assigned to those cards.
For example, say you want to be able to identify all clients who
are not-for-profit organisations. You could assign them identifier
N and when printing sales reports you can choose to filter the
report to show only customers who have that identifier.
GROUPING YOUR CONTACTS
To assign identifiers to a card
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the zoom arrow next to the card you want to edit. The
Card Information window appears.
3
Click the Card Details tab.
4
Click Identifiers. The Select Identifiers window appears.
229
5
Click next to the identifiers you want to assign to the card.
6
Click OK.
Custom lists
3
Click OK. The names you have entered will now appear in the
Card Details tab of the Card Information window.
To create a custom list entry
1
Go to the Lists menu, choose Custom Lists and then choose
the card type for which you want to create a custom list entry,
for example, Customers. The Custom Lists window appears.
2
Select the custom list for which you want to create an entry.
3
Click New. The Edit Custom List window appears.
4
Type the custom list entry’s name and then click OK.
You can set up lists of predefined attributes and assign the
appropriate attributes to your cards.
By assigning attributes from a custom list to your cards, you are
able to group your contacts to a greater degree than is possible
with identifiers.
For example, you could assign all your wholesale customers the
W identifier. If you also set up a custom list containing each of
your sales territories, and allocate those customers to the
appropriate territory, you can then filter reports to only show
information about wholesale customers who are within a
particular sales territory.
To name a custom list
1
Go to the Lists menu, choose Custom List & Field Names,
and then choose the card type for which you want to create a
custom list, for example, Customers. The Custom List and
Field Names window appears.
The entry appears in the Custom Lists window.
To assign a custom list entry to a card
2
230
1
Go to the Card File command centre and click Cards List.
2
Click the zoom arrow next to the card you want to edit. The
Card Information window appears.
3
Click the Card Details tab.
4
Click the search icon next to the custom list field you want to
edit and then select the entry that you want to assign.
Enter names for the lists you want to create for the card type
you have selected in the Name of Custom List fields.
CHAPTER 15
CONTACT MANAGEMENT
Synchronising AccountRight cards with Microsoft Outlook contacts
You can synchronise your AccountRight cards and your Microsoft
Outlook contacts. If your business uses Microsoft Outlook to
email and manage contact information, this will make it easier for
you to keep both your AccountRight cards and your Outlook
contacts up to date.
Your AccountRight cards are your customer, supplier, employee
and personal cards stored in your AccountRight card file. Your
Outlook contacts are your contacts stored in your Microsoft
Outlook address book.
When you synchronise your AccountRight cards and your
Outlook contacts, you can:
„
make the details in your Outlook contacts match the details in
your AccountRight cards (by exporting your AccountRight
cards to your Outlook contacts) or
„
make the details in your AccountRight cards match the details
in your Outlook contacts (by importing your Outlook
contacts to your AccountRight cards).
details for existing contacts. To do this, you select from one of the
following update rules.
Rule
Description
Update existing
contacts
New contacts are added and existing
contacts are updated. You will not be
prompted to confirm updates.
Do not update
existing contacts
New contacts are added but existing
contacts are not updated. You are not
prompted to confirm any updates.
Ask me to confirm
updates
New contacts are added and you are
prompted to confirm updates. If you select
this rule, you specify how you want to deal
with the discrepancies between the details in
your AccountRight cards and the details in
your Outlook contacts.
You can:
• review and update the details for each
contact
• select to update all contacts (if you select
this option, you will not be prompted to
confirm any further updates) or
• skip an update for a contact and leave the
details for the contact unchanged.
When you synchronise, the following details are imported or
exported: company name or contact name, address details,
email and web addresses and telephone, fax and mobile
numbers.
If you are exporting your AccountRight cards to your Outlook
contacts, you can also include your Card File custom fields in the
export. When you do this, you specify how your custom fields
match the Categories, Anniversary, Birthday or Spouse’s name
fields in your Outlook contacts. For information on setting up
Card File custom fields see ‘Custom fields’ on page 237.
Synchronisation update rules As part of the synchronisation
process, you choose whether or not you want to update the
Software required You require Microsoft Outlook 2000
(or later), MYOB Outlook Sync and MYOB Direct v10 installed on
your computer. For more information, refer to the Getting
Started guide.
Single-user access required Synchronising cards and
Outlook contacts requires single-user access. For more information,
see ‘Single-user file locking for special tasks’ on page 286.
CAUTION :
SYNCHRONISING ACCOUNTRIGHT CARDS WITH MICROSOFT OUTLOOK CONTACTS
231
Exporting your AccountRight cards to
your Outlook contacts
When you export your AccountRight cards to your Outlook
contacts, your contacts are saved by default to group contact
folders. For example, Customer contacts are saved to a folder
called MYOB Customers.
3
If you use a Personal Digital Assistant (PDA) and want to
synchronise your Outlook contacts and your PDA, your contacts
must be saved to the Microsoft Outlook default contacts folder.
When you export your AccountRight cards to your Outlook
contacts, you can select an option to save your contacts to the
default contacts folder (see step 7 on page 233).
Select the card types that you want to synchronise.
You can synchronise cards from any of the Cards List
tabs (All Cards, Customer, Supplier, Employee and
Personal) The default card type selected varies according to
the tab you are on when you click Sync Cards.
NOTE :
4
Click Synchronise Cards. The Outlook Sync - Import and
Export Options window appears.
5
If you want to include inactive cards in your synchronisation,
select the Allow the export of inactive cards to Outlook
option. For information about inactive cards, see ‘Inactivating
or reactivating a record’ on page 186.
CAUTION : Back up your Outlook contacts Exporting your
AccountRight cards to your Outlook contacts will change the details
recorded in your Outlook contacts. Back up your Outlook contacts
before synchronising. See your Microsoft Outlook documentation
for instructions.
To export your AccountRight cards to your Outlook
contacts
232
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click Actions and choose Synchronise Cards. The
Synchronise Cards window appears.
CHAPTER 15
CONTACT MANAGEMENT
6
Select a synchronisation rule from the Update Rules list. For
more information, see ‘Synchronisation update rules’ on
page 231.
7
If you want to save your AccountRight cards to your Outlook
contacts default folder (you need to do this to synchronise
your Outlook contacts and your PDA), or if you want to
export your AccountRight custom fields to your Outlook
contacts, click Settings. The Outlook Sync - Settings
window appears.
8
Click Export. A Microsoft warning appears.
9
Select a period for your AccountRight software to access your
Outlook contacts:
a Select the Allow access for option.
b Select a period from 1 minute to 10 minutes.
c Click Yes.
The export process starts.
10
a If you want to synchronise your Outlook contacts and your
PDA, select the Synchronise AccountRight cards with the
default contacts folder option. All contacts are then saved
to your default Outlook contacts folder.
b If you want to export your AccountRight custom fields to
your Outlook contacts, select a matching Outlook contact
field for Custom Field 1, Custom Field 2 and Custom
Field 3.
c Click OK. The Outlook Sync - Import and Export Options
window reappears.
If you selected the Update existing contacts rule or the Do
not update existing contacts rule, the Outlook Sync Export Summary window appears. Go to step 11 on
page 234.
If you selected the Ask me to confirm updates rule, the
Outlook Sync - Confirm Update to Outlook Contact
window appears.
Select how you want to deal with each update. When you
have confirmed all updates the Outlook Sync - Export
Summary window appears.
SYNCHRONISING ACCOUNTRIGHT CARDS WITH MICROSOFT OUTLOOK CONTACTS
233
11
Review the export summary.
Summary field
Description
Added new
contacts
The number of new contacts added to your
Outlook contacts.
Updated
duplicate
contacts
The number of Outlook contacts updated to
match the details in your AccountRight cards.
Note that if you selected the Do not update
existing contacts rule, updated duplicate
contacts will always be 0.
Rejected cards
The number of cards you skipped (if you
selected the Ask me to confirm updates rule)
or the number of duplicate contacts (if you
selected the Do not update existing contacts
rule). Duplicate contacts have not been
updated to match your AccountRight cards.
Note that if you selected the Update existing
contacts rule, rejected cards will always be 0.
NOTE : Blank fields in your Outlook contacts are not included in
the import If a field in your Outlook contact is blank but the
corresponding field in your AccountRight card is complete, this field
will be skipped during the import process. This ensures that blank
fields don’t overwrite contact details recorded in your AccountRight
cards.
Importing from the default contacts folder If you want to
import your contacts to AccountRight cards from the default
Outlook contacts folder, enter the card type for each contact in
the Categories field of the General tab.
NOTE : Outlook import log If you want to view a list of the
records updated and the problems encountered during the
import, refer to the OutlookImport.html file. This file—readable
by any Internet browser—can be found in the OutlookSync
folder, which is located in your AccountRight software’s
program folder.
Importing your Outlook contacts to your
AccountRight cards
You can import your Outlook contacts to your AccountRight
cards from either the default contacts folder, or from group
contact folders created for each AccountRight card type.
Importing from group contacts folders You need to save
your contacts to group contact folders labelled MYOB Customer,
MYOB Supplier, MYOB Employee and MYOB Personal. For
instructions on how to set up group contact folders in your
Outlook contacts, refer to your Microsoft Outlook
documentation.
However, before you import your Outlook contacts, you need to
identify each contact as either a customer, supplier, employee or
personal contact.
234
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CONTACT MANAGEMENT
Before importing your Outlook contacts Check that the
details recorded in your Outlook contacts are up to date and
entered in the correct field.
To import your Outlook contacts to your AccountRight
cards
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click Actions and choose Synchronise Cards. The
Synchronise Cards window appears.
5
Select a synchronisation rule from the Update Rules list. For
more information, see ‘Synchronisation update rules’ on
page 231.
6
If you want to import your Outlook contacts from the default
Outlook contacts folder, click Settings. The
Outlook Sync - Settings window appears. If you are
importing your contacts from group contact folders, go to
step 7 below.
Select the option Synchronise AccountRight cards with the
default contacts folder and then click OK.
CAUTION : Back up your company file Importing your
Outlook contacts to your AccountRight cards will change the
details recorded in your company file. To avoid losing contact
details stored in your company file, back up your company file
before synchronising. For more information on backing up your
Company File, see ‘Backing up and restoring company files’ on
page 277.
3
Click Import. A Microsoft warning appears.
8
Select a period for your AccountRight software to access your
Outlook contacts:
a Select Allow access for option.
b Select a period from 1 minute to 10 minutes.
c Click Yes.
Select the card types that you want to synchronise.
NOTE : You can synchronise cards from any of the Cards List
tabs (All Cards, Customer, Supplier, Employee and
Personal). The default card type selected will vary according
to the tab you are on when you click Sync Cards.
4
7
Click Synchronise Cards. The Outlook Sync - Import and
Export Options window appears.
SYNCHRONISING ACCOUNTRIGHT CARDS WITH MICROSOFT OUTLOOK CONTACTS
235
The import process starts and the Blank Field Warning
window appears.
9
10
Click Continue.
„ If you selected the Update existing contacts rule or the
Do not update existing contacts rule, the Outlook Sync Import Summary window appears. Go to step 10 below.
„ If you selected the Ask me to confirm updates rule, the
Outlook Sync - Confirm Update of AccountRight card
window appears.
Select how you want to deal with each update. When you
have confirmed all updates the Outlook Sync - Import
Summary window appears.
Review the import summary.
Summary field
Description
Updated or
added cards
The number of cards added or updated in your
AccountRight cards.
Updated or
added cards
with warnings
The number of cards updated but the details in
your AccountRight cards may be incomplete.
Skipped
contacts
The number of contacts you chose to skip (if
you selected update rule Ask me to confirm
updates) and the number of contacts that
were not imported because they contained
blank Outlook contact fields.
AccountRight import log If you want to view a list of
the records updated and the problems encountered during the
import, refer to the AccountRightImport.html file. This
file—readable by any Internet browser—can be found in the
installation folder for your AccountRight software (for example
C:\Premier19 folder).
NOTE :
236
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CONTACT MANAGEMENT
Customising cards
Custom fields
If you need to record certain information about your contacts,
but can’t find a suitable card field for it, you may want to set up a
custom field.
For example, you could set up a field to record your customers’
birthdays or a field to record the dates of your employees’ most
recent performance review.
You can set up three custom fields for each card type and label
them according to your needs. You can then enter any
information you like in those fields.
If you need to, you can show this information in a report by
selecting the custom fields in the Report Fields tab of the Report
Customisation window.
2
Click the zoom arrow next to the card you want to edit. The
Card Information window appears.
3
Click the Card Details tab and type the information you want
to record in the appropriate custom field.
Card identification codes
If you have assigned identification codes (IDs) such as customer
numbers or account numbers to your customers, you can enter
those IDs in their cards.
You can also set a preference that will let you select customers by
their ID instead of their last name or company name when
entering a transaction. Customer search lists will also be sorted by
their ID when this preference is set. For more information, see ‘To
select contacts using Card IDs’ on page 238.
To set up custom fields
1
Go to the Lists menu, choose Custom List and Field Names
and then choose the card type for which you want to set up a
custom field, for example, Customers. The Custom List and
Field Names window appears.
2
Type the names of the custom fields you want to set up for
the card type you have selected in the Name of Custom Field
fields. For example, you could enter Birthday to record your
contacts’ birthdays.
3
Click OK. The names you have entered will now appear in the
Card Details tab of the Card Information window.
NOTE : The Card ID preference affects all card types If you
choose this preference, you will have to select all card types by their
IDs.
To enter an identification code
1
Go to the Card File command centre and choose Cards List.
The Cards List window appears.
2
Click the zoom arrow next to the card you want to edit. The
Card Information window appears.
3
Enter a unique code of up to 15 alphanumeric characters in
the Card ID field.
4
Press TAB or click OK to save your changes.
To enter custom field information in a card
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
CUSTOMISING CARDS
237
To select contacts using Card IDs
To link a picture
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the Windows tab.
2
Open the card for which you want to link a picture.
3
Choose the Select Cards by Card ID, Not Card Name
option.
3
Click the Card Details tab and double-click the picture file
area. The Picture Information window appears.
You can now select cards by their IDs and your card lists will
be sorted by ID instead of by last name or company name.
4
Click Link. The Open window appears.
5
Locate the picture file you want to display for this card and
then click Open. The Picture Information window appears
with the selected picture appearing on the right.
6
Click OK. The picture appears in the Card Details tab.
Card pictures
You can display a picture of your contact by linking a picture file
to their card. The picture appears in the Card Details tab of the
Card Information window.
Any pictures you link are copied to the Graphics folder, which is
located within your company file’s folder. If you move your
company file, you will need to move the Graphics folder as well.
Supported picture formats Pictures need to be saved in
one of the following formats: bmp, jpg, tif, gif, or png.
NOTE :
238
To replace a picture
If you want to replace the picture displayed in a card with
another one, double-click the displayed picture and continue
with step 5 in ‘To link a picture’ above.
To remove a picture
If you want to remove the displayed picture from the Card
Details tab, double-click the picture. In the Picture Information
window, click Unlink and then click OK. The picture will be
removed from the Card Details tab but the picture file will
remain in the Graphics folder.
CHAPTER 15
CONTACT MANAGEMENT
Reviewing your contact information
There are several tools you can use to review your contact
information.
Tool
Description
See
To Do List
The Contact Alert tab in the To Do List
displays contact log entries with
recontact dates on or before the
current date.
below
Card
reports
Card reports give you lists of contact
information in several formats.
below
Find
Transactions
Find Transactions helps you quickly
find all transactions for a contact.
page 191
To view contact alerts
1
2
Click To Do List in any command centre. The To Do List
window appears.
Click the Contact Alert tab. A list of all individuals and
businesses you need to contact appears.
NOTE : Reminders that fall on a closed day If the recontact
date falls on a day that you have indicated as being closed in the
Business Calendar (accessible from the Setup menu), the
reminder will appear on the business day prior to the recontact
date.
The Overdue column shows how many days have elapsed
since the recontact date you specified on the contact log
entry.
To clear a reminder from the list, click in the select column
next to the contact log entry and then click Remove.
REVIEWING YOUR CONTACT INFORMATION
To print card reports
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Click the Card tab. The list of card reports appears.
3
Display or print the report that is appropriate to your needs.
Following is a list of the default information displayed in each
report. If required, you can customise the reports to display
more or less details (for information on how to customise a
report, see ‘Customising reports’ on page 206).
Report
Description
Card List
Summary
A list of your contacts with their phone numbers,
current balances and identifiers.
Card List
Detail
A list of some of the information contained in your
contacts’ cards, including Address 1 and Address 2.
Addresses
The contact name, address and phone number
entered for Address 1 in each card.
Card
Transactions
A list of the transactions that have been allocated
to your contacts for a selected period.
Contact Log
A list of contact log entry details. The total of the
elapsed time recorded in the log entries is
displayed for each contact.
Identifiers
A list of the identifier codes and their descriptions.
GIS Card
File
A list of contact information that you can import
into a geographic information system (GIS) to
analyse the location of your contacts.
Overdue
Contacts
A list of contact log entries with recontact dates
that are dated on or before the day you specify in
the report filter.
239
240
CHAPTER 15
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FINANCIAL CONTROL
16 Financial control
You can control your finances by setting budgets, auditing your records and by reviewing and analysing your financial activities.
Tracking financial information
You can track financial information at three levels:
„
„
„
4-0000 Income
Accounts level—view the profitability and financial details of
your business as a whole.
4-1000 Car Sales
Categories level—view the profitability and financial details of
your individual business divisions, departments, properties,
offices or locations.
Accounts
[Header]
4-1010 New Car Sales
[Detail]
4-1020 Pre-owned Car Sales
[Detail]
4-2000 Service and Parts Income
Jobs level—view the profitability and financial details of the
individual jobs or tasks carried out for customers and clients.
[Header]
[Header]
4-2010 Service Income
[Detail]
4-2020 Parts Income
[Detail]
4-2030 Accessories Income
[Detail]
When entering a transaction, the transaction amount is allocated
to an appropriate account. A standard profit and loss statement
can then be printed for the business to show income and
expenses generated by the business. However, at this level, it is
difficult to see how well particular models are selling. Categories
can manage this.
The accounts list could be set up to provide a basic overview of
your business’s overall performance. For example, a car
dealership might set up their accounts to distinguish new and
used car sales, from service and parts income. The following
income accounts could be used:
Setting up accounts You can set up your accounts in the
Accounts command centre (see ‘Setting up accounts’ on
page 28).
241
Categories
Categories enable you to track profitability of departments,
offices, properties and other business segments.
For example, the Sales department of a car dealership could use
categories to help them track the profitability of car models they
sell: say, model A, model B and model C.
When entering a transaction, you need to allocate the
appropriate category to it. You can then prepare a profit and loss
statement for each category.
Categories can be assigned to the following transaction types:
„
spend money
„
receive money
„
transfer money
„
general journal entries
„
sales
„
To enable allocation of categories
1
Go to the Setup menu and choose Preferences.
2
Click the System tab.
3
Select the Turn on Category Tracking option.
4
If you want to make the selection of a category mandatory for
all transactions, choose Required from the list.
NOTE : Turning off category tracking deletes all categories and
their history If you choose to turn off category tracking, any
categories you have created and their transaction history will be
deleted from your company file. You should make a backup of your
company file before you do this so that you can access this
information if required.
To create a category
1
Go to the Lists menu and choose Categories. The
Categories List window appears.
purchases
2
Click New. The Edit Category window appears.
„
build items
3
„
inventory transfers
In the Category ID field, type a code that will be used to
identify the category and press TAB.
„
inventory adjustments
4
In the Category Name field, type the name of the category.
„
payroll processing
5
„
historical sales and purchases.
In the Description field, type a description of the category or
notes relating to the category.
6
Click OK.
NOTE : You cannot allocate categories to some transactions
You cannot allocate a category to these transactions: Pay Bills,
Receive Payments, Prepare Bank Deposit, Settle Returns and
Credits/Debits and Pay/Receive Refunds. When entering these
transactions, the categories assigned to the original transactions
will be used. For example, the categories assigned to purchases
appearing in the Pay Bills window will also be assigned to the
payment.
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CHAPTER 16
FINANCIAL CONTROL
Jobs
Jobs can be set up to track income and expenses related to
service jobs. This is particularly useful when multiple jobs are
performed for a single customer. When you enter a transaction,
the appropriate job number can be assigned to each individual
amount. This enables you to associate several jobs with the
various amounts in a single transaction.
For example, if a purchase includes parts for three customers, you
could specify each of the three jobs to which that purchase
relates. A profit and loss statement can then be prepared for each
job and actual results can be compared with budgeted values to
produce a Jobs Budget Analysis report.
Sub-jobs Sub-jobs allow you to track individual jobs that form
part of a larger job. For example, if you are a graphic designer
working on a number of print and multimedia deliverables for
your client, you could use sub-jobs to track the individual jobs:
website design, business cards production and brochure layout.
Job types
There are two types of jobs, header and detail.
„
Header jobs total associated detail jobs (including detail
sub-jobs). You cannot assign transactions to header jobs.
„
Detail jobs are assigned to transactions to track income, costs
and expenses.
Note that sub-jobs can be either a detail or header type job.
To create a header job
1
Go to the Lists menu and choose Jobs. The Jobs List window
appears.
2
Click New. The New Job window appears.
3
Select Header Job and enter a job number, name and
description.
4
If you want to create this job as a sub-job of another header
job, type or make a selection from the Sub-job Of field.
5
Click OK. The header job appears in the Jobs List window.
Setting up jobs and sub-jobs You can keep a detailed record
of your jobs and sub-jobs. If you intend to use sub-jobs, you will
first need to create header jobs, to which you can later assign
sub-jobs.
To create a detail job
1
Go to the Lists menu and choose Jobs. The Jobs List window
appears.
Specific job-tracking tasks include:
2
Click New. The New Job window appears.
„
organising jobs in a hierarchy
3
Select Detail Job.
„
setting budgets for each job
4
Type a code for the job in the Job Number field and press TAB.
„
linking jobs to specific customers
„
assigning jobs to individual line items on transactions
„
tracking reimbursable expenses for your jobs
„
preparing invoices to reimburse job expenses
„
analysing profit and loss of a job.
TRACKING FINANCIAL INFORMATION
243
5
Enter additional information about the job, such as a job
name, description and start date.
To enter opening balances for jobs
If you started using your software while a particular job was in
progress, you can create the job and then enter any account
activity generated by the job so far in the Job Opening Balances
window.
You can enter opening balances only for detail jobs. Header jobs
take their balances from the detail jobs below them.
6
If you are creating a sub-job, type or select a header job in the
Sub-job Of field. Note, you can only assign detail jobs to
header jobs, not to other detail jobs.
7
If you want to link the job to a customer, type or select a
customer in the Linked Customer field. This is useful if you
intend to seek reimbursement for goods and services
purchased on the customer’s behalf.
You can view details of all jobs linked to a customer in the
Jobs view of the customer’s card.
8
Click OK. The Jobs List window reappears.
9
Review the hierarchy of jobs you have created. If you need to
change the details a job, select the job and click Edit.
1
Go to the Setup menu, choose Balances and then Job
Opening Balances. The Job Opening Balances window
appears.
2
In the Job Number field, type or select the job for which you
want to enter an opening balance.
3
In the Opening Balances column, type the opening balances
for each account.
4
Repeat from step 3 for each job with an opening balance.
5
Click OK when you have finished.
To enter budget amounts for jobs
You can enter budgets for detail jobs. The budget information
you enter for each job is used to help you assess your progress on
a particular job and to determine the job’s effect on the state of
your business. The amounts you enter will be recorded against
accounts in your accounts list for comparison purposes.
244
CHAPTER 16
FINANCIAL CONTROL
Once you begin recording transactions for the job, you will be
able to print the Jobs Budget Analysis report to see a
comparison between the actual amounts and the amounts you
have budgeted for the job.
1
Go to the Lists menu and choose Jobs. The Jobs List window
appears.
2
Select the detail job for which you want to enter budgets.
3
Click Budgets. The Job Budgets by Account window
appears, with the number of the job you selected in the Job
Number field.
All your company’s income, cost of sales, expense, other
income and other expense accounts appear in the scrolling
list.
4
In the Budgets column, type the amounts you’ve budgeted
for specific accounts for this job and then click OK.
Budgets
When you prepare a budget, you are predicting the financial
state of your business. For example, you could prepare a budget
that predicts how much you intend to spend and earn over the
next financial year. Having a budget means that, as the year
progresses, you can track projected data against actual data and
take corrective action if things are not going according to plan.
You can also use budgets to plan for future goals. For example,
you may want to undertake a new business venture in the
coming year. By creating a budget, you can work out the amount
of money you will need for the venture, where this money will
come from, and the impact that the venture will have on other
aspects of your business.
What do I need to budget? You can enter budgets for
individual detailed accounts. The accounts that require a budget
will vary according to your business. Most people prepare
budgets for Profit and Loss accounts such as Income, Cost of Sales
BUDGETS
and Expenses accounts, and Balance Sheet accounts for specific
assets and liabilities. To decide on the accounts that will require a
budget, consider what changes you anticipate in your business
and the financial impacts these changes will have. For example,
you may be considering taking a new loan (which will affect your
Bank Loans account).
What period can I budget for? Your software lets you create a
budget for the current financial year and the next financial year.
Reviewing your budget You can review your budgets
periodically to track your financial progress and see if it is going
to plan. A slight variation from the budget is normal. Large
variations, on the other hand, may need investigation. For
example, if you have a large increase in accounts receivable, it
may indicate that your customers are taking a longer time than
expected to pay your account.
245
You can compare your budgeted amount with actual account
balances by viewing the Budget Analysis reports for Balance
Sheet and Profit and Loss accounts. For information on
displaying, customising and printing reports, see Chapter 13,
’Reports,’ starting on page 203.
To enter the budget for an account
1
Go to the Accounts command centre and click Accounts
List. The Accounts List window appears.
2
Click Budgets. The Prepare Budgets window appears.
The window lists the Profit and Loss accounts by default.
Entering budget amounts
You can use the Prepare Budgets window to enter budget
amounts for each month of the current or next financial year. See
‘To enter the budget for an account’ below.
If you want to quickly enter budget amounts for a group of
months, you can use the Budget Shortcuts window. See ‘To
enter a budget using the Budget Shortcuts window’ on
page 247.
As the year progresses, you can choose to either adjust budget
figures or leave them unchanged.
3
From the Financial Year list, choose whether you want to
enter a budget for this financial year or the next one.
4
From the Account Type list, choose the type of account you
want to enter a budget for—Profit and Loss or Balance
Sheet.
5
For each month, click in the appropriate cell and enter the
amount. If you want to enter a negative amount, insert a
hyphen before the figure (for example, -250).
As you enter data, the FY Total column will display the total
budget for each account.
Entering positive and negative amounts By default, the
amount you enter will be assumed to be a positive amount. You
can enter negative budget amounts by inserting a hyphen before
the amount (for example, -250). When you enter a negative
amount, you are indicating that the balance of the account is
going to reduce.
A
B
Using existing data If you have already prepared a budget in a
spreadsheet or in other software, you may be able to import that
information into your company file. For more information on
how to import account budgets, see ‘Importing data’ on
page 290.
You can also use the previous financial year’s data as a basis for
your budget.
246
C
D
E
A
The Account Name and FY Total columns display the list of
accounts and their current budget totals for the financial year.
B
You can enter the budget amount for a specific account and
month. You can use the horizontal scroll bar to scroll through
the months.
CHAPTER 16
FINANCIAL CONTROL
C
6
Click Shortcuts to open the Budget Shortcuts window from
where you can quickly enter budget amounts for the selected
account. For more information, see ‘Budget Shortcuts window’
below.
D
Click Copy Amount to Following Months to copy the selected
amount to the months that follow.
E
Click Copy Previous Year’s Actual Data to insert the previous
year’s account balances for the selected account and month.
Select a time
Click Close to save the budget data and exit the Prepare
Budgets window.
The fields change according to the period you select.
Select…
If you want to…
Each Month
If you want to quickly enter budget figures for a group of months,
you can use the Budget Shortcuts window. You can use this
window to enter quarterly, half-yearly and yearly budgets. You
can also enter a budget that increases or decreases by a specific
amount every month.
Enter the same amount for every month of
the year or a set increase or decrease every
month (starting from a base amount).
Period starting from
selected Month
Enter a total amount for a group of
consecutive months.
Each Quarter
Enter the total amount for each quarter.
To enter a budget using the Budget Shortcuts window
Each half of the
Financial Year
Enter the total amount for each half of the
year.
Financial Year yyyy
Enter the total amount for the entire
financial year, (where yyyy is your financial
year).
Budget Shortcuts window
1
Go to the Accounts command centre and click Accounts
List. The Accounts List window appears.
2
Click Budgets. The Prepare Budgets window appears.
3
Select the account you want to enter the budget for.
4
Click Shortcuts. The Budget Shortcuts window appears.
5
From the Budget for list, select a time period.
6
Enter the budget amounts in the appropriate fields. Amounts
that cover more than one month (such as quarterly,
half-yearly and yearly amounts, and amounts for a group of
months) will be divided equally among all the months in the
group.
If you selected the Each Month option, you can also set a
base budget amount for the first month, and the amount or
percentage by which this will vary every month onwards.
7
BUDGETS
When you have finished entering the information, click OK.
The Prepare Budgets window appears with the new
amounts.
247
If the account already has budget figures, a message appears
asking if you want to replace the existing budget. Click OK to
replace the budget, or Cancel if you want to keep the existing
amounts (you will be returned to the Budget Shortcuts
window where you may need to click Cancel again).
If you have not entered any amounts for the budget, a
message appears asking if you want to enter zero amounts.
Click OK if you want to do this, or Cancel if you want to
change the amounts.
Reviewing financial information
There are several tools that you can use to review your financial
information:
248
Tool
Description
See
Business
Insights
Business Insights enables you to
analyse information about your
cashflow and current cash position.
below
Analyse Balance
Sheet
The Analyse Balance Sheet
window provides details about
your asset, liability and equity
accounts in both graphical and
ledger views.
page 249
Analyse Profit &
Loss
The Analyse Profit & Loss window
provides detailed information
about your Profit & Loss accounts
in both graphical and ledger views.
page 249
Analyse Jobs
The Analyse Jobs window allows
you to view information about your
progress on a particular job, broken
down by account.
page 249
Financial
reports
Financial reports help you review
your financial information.
page 250
Business Insights
Business Insights enables you to analyse key financial information
using a range of interactive tables and graphs. You can use it to
analyse your available cash, cash flow, profit and loss, and the
money that you owe suppliers and the money that customers
owe you. You can open Business Insights from the Accounts
command centre.
The Business Insights window presents different types of
financial information in four summary panels. From each panel,
you can open additional windows to analyse information in more
detail.
You can sort the information in tables by clicking in the relevant
table column heading. For example, you can sort the list of your
accounts by account name or type. You can also save a graph as
an image so you can print it or insert it into a document.
Right-click the graph and click Save As, choose where you want
to save the image and click Save.
CHAPTER 16
FINANCIAL CONTROL
Cash position as at today This panel displays the balances of
your bank and credit card accounts and shows the total amount
of available cash.
Click Analyse performance to view a graph comparing income
to expenses each month, a profit and loss graph, and information
about your top ten selling items and top ten customers.
You can use this information to:
„
Identify excessive spending Compare income against
expenses and view the resulting profit or loss over the current
financial year.
„
Review your sales performance
customers and top-selling items.
Identify your top ten
„
Check account balances Before making a large payment,
ensure that the account it is drawn from has sufficient funds.
Cash position estimate This panel forecasts your cash balance
for the current month and for the next two months. The forecasts
are based on your current cash balance and the money you will
receive or spend in the forecast period. The forecast is calculated
by:
Customer and supplier analysis For more information about
analysing sales and purchases, see ‘Reviewing your sales
information’ on page 75 and ‘Reviewing your purchases
information’ on page 100.
To analyse your balance sheet
1
Go to the Accounts command centre and click Analysis. The
Analyse Balance Sheet window appears.
2
Click Filters and choose the time periods and other criteria
you want to view.
3
Click OK. The information you selected appears in the
Analyse Balance Sheet window.
To analyse your profit or loss
1
From any command centre, click the Analysis down arrow
and select Profit and Loss from the menu. The Analyse
Profit & Loss window appears.
2
Click Filters and choose the time periods and other criteria
you want to view.
Click OK. The information you selected appears in the
Analyse Profit & Loss window.
„
total cash balance to date
3
„
plus customer payments and receive money payments
(including recurring payments) that are due to be received
during the forecast period
To analyse your jobs
„
minus supplier payments and spend money payments
(including recurring payments and paycheques) that are due
to be paid during the forecast period.
1
From any command centre, click the Analysis down arrow
and select Jobs. The Analyse Jobs window appears.
2
In the Job Number field, type or select the job you want to
analyse.
3
If you use budgets to track the progress of this job, enter a
value in the Percent Complete field. The budget amounts
are adjusted to represent the percentage of the job
completed.
Click Cash analysis to see how the forecast is calculated.
You can use this information to:
„
Plan your expenditure Work out what effect a major
purchase or hiring more staff would have on your cash
position.
„
Predict cash flow issues View a forecast of your cash flow
for the coming two months.
REVIEWING FINANCIAL INFORMATION
249
To view financial reports
1
Go to the Reports menu at the top of the screen and choose
Index to Reports. The Index to Reports window appears.
2
Click the Accounts tab.
Report
Description
Balance Sheet
Budget Analysis
Lists account balances as at the end of a
selected period, along with the budgeted
amounts for them. If you’ve determined that
changes need to be made to the amounts
you’ve budgeted for the coming months, you
can adjust your budget.
Profit & Loss
Budget Analysis
Lists account balances for a selected period,
along with the budgeted amounts for them. If
you’ve determined that changes need to be
made to the amounts you’ve budgeted for the
coming months, you can adjust your budget.
Statement of
Cash Flow
Shows how your cash position has changed
over a period of time, what profit you have
earned, where you received additional cash,
and where your cash was spent.
There are several account reports that can help you track your
financial information. These reports are listed below.
250
Report
Description
Audit Trail
Reviews changes made to recorded
transactions, account details and system
settings.
Note that before you can track and report
changes, you need to activate the audit trail
tracking preference. For more information,
see ‘Audit trail tracking system’ on page 251.
Profit & Loss
Statement
Shows your profit and loss figures.
Balance Sheet
Reviews your financial position as of the end
of a period.
Summary Trial
Balance
Identifies amounts incorrectly entered. When
reviewing this report, check for:
• entries that seem unusually high or low for
the account that has been affected
• debit amounts for accounts that normally
have credit entries and vice versa
• unusually high or low ending balances
• an unusually high or low number of entries
for a specific account.
For information on displaying, customising and printing reports,
see Chapter 13, ’Reports,’ starting on page 203.
CHAPTER 16
FINANCIAL CONTROL
Auditing your records
The following features are available to help you ensure the
accuracy of the records in your company file.
Change type
Description
Transactional
•
•
•
•
•
•
•
•
deletion of transaction
change of card selection
change of ID #
change of date
change of amount on any line
change of account on any line
change of item selection
change of job selection.
Tax
•
deselection of tax code on any line of a sales or
purchase transaction
change of tax code for a sales or purchase
transaction
change of tax amount for a sales or purchase
transaction
adding transactions with a tax code other than
the default code for the selected card or account
(invoices only, not orders or quotes)
adding transactions with a changed taxable
amount
change of the linked account selection in any of
the Tax Code Information windows.
Company Data Auditor
The Company Data Auditor allows you to check the accuracy of
the records in your company file. You can use this tool to perform
maintenance tasks and reconcile bank or credit card accounts.
The Company Data Auditor also checks your transactions for
exceptions such as invoices that do not reconcile with your
receivables account, future-dated transactions, and audit trail
changes. For more information on how to use the Company Data
Auditor, see ‘Run the Company Data Auditor’ on page 254.
•
•
Audit trail tracking system
•
You can track specific transactional, tax, account, payroll and
system changes made to your company file using an audit trail
tracking system. You can then print an Audit Trail report which
lists all the changes recorded in a specified date range.
To track changes, go to the Setup menu, choose Preferences
and then set the Use Audit Trail Tracking preference in the
Security tab.
The transactional, tax, accounts, payroll and system changes that
are recorded are outlined below:
AUDITING YOUR RECORDS
•
•
Account
•
•
•
•
change of the current account number
change of the account’s opening balance
addition of a new account
deletion of an account.
251
Change type
Description
Payroll
Changes to the setup of an employee’s card,
including:
• employment category
• employment status
• termination details
• pay basis, pay rate or pay frequency
• the default wages expense account
• ‘Carry Over’ entitlements
• pay history
• tax table
• withholding variation rate
• extra tax amount
• total rebate amount.
Changes to the setup of a payroll category include:
• Type of Wages selection and pay rate
• Type of Entitlement field
• superannuation calculation basis
• Type of Deduction field or Deduction Limit field
• Type of Expense field and Expense Limit field.
System
•
•
•
•
252
Change of the linked account selection in any of
the Linked Accounts windows
change to the lock periods security preference
(this includes changes of the lock period date and
the selection/deselection of the preference)
change to the Transactions CAN'T be Changed;
They must be Reversed preference
change to the Use Audit Trail Tracking
preference.
CHAPTER 16
FINANCIAL CONTROL
It is important to ensure that your accounting records are accurate. Reconciling the accounts regularly will assure you and your accountant that
your books are complete, accurate and balanced.
Month-end procedures You should reconcile your company file information with any source documents and resources available to you. For
example, each month your bank account can be reconciled with your bank statement, creditors balances can be checked against statements, and
customers’ balances verified. Typical end-of-month procedures include reviewing your trial balance, reviewing your budgets and cash flow,
paying payroll taxes and purging information that is no longer needed.
End-of-year procedures need to be carried out to prepare your company file for the coming year. These include any
adjustments you need to make to your company file so that it agrees with your accountant’s final records before you start a new year. If possible,
your inventory should be counted, valued and, where necessary, adjusted in your company file. By closing the year in your company file, you are
effectively bringing the company file up to date and removing information not required in the new year.
Year-end procedures
Closing a payroll year includes processing final paycheques, printing payroll reports and preparing payroll forms. You must
close the payroll year in the last month of your payroll year or soon after. Otherwise, you will not be able to enter paycheques for the next payroll
year.
End of payroll year
Month-end procedures
The following is a list of tasks we suggest you complete at the end
of each month. Depending on the nature of your business, some
of these tasks may not apply to you.
Task
1
Task
See
Run the Company Data Auditor
See
4
Report and pay superannuation contributions
page 258
5
Report and pay payroll tax
page 258
6
Send customer statements
page 259
7
Record depreciation
page 260
8
Lodge your activity statement (BAS or IAS)
page 261
9
Lock periods
page 263
page 254
2
Reconcile bank accounts
page 58
3
Review reports
page 257
253
END-OF-PERIOD PROCEDURES
17 End-of-period procedures
Task 1: Run the Company Data Auditor
„
„
The Company Data Auditor is a series of windows that guide you
through the process of checking and ensuring the accuracy of
the records in your company file. You can use the auditor to:
„
display basic information about the company file, such as the
file name, release number, location, size, lock periods, last
backup date, etc.
„
perform maintenance tasks, such as back up your company
file and set lock periods
„
display bank and credit card account details, including the
current balance and the date when they were last reconciled
„
reconcile your bank and credit card accounts
„
check your transactions for exceptions and audit trail
changes.
1
Go to the Accounts command centre and click Company
Data Auditor. The Company File Overview window
appears.
„
„
the date on which the company file was last verified
the end month and year of the current financial year
the locked period date, if one has been specified
the date of the payroll tax tables.
If necessary, you can perform the following maintenance
tasks from this window:
2
To…
Do this…
See
Back up your
company file
Click Backup and complete the
backup procedure.
page 277
Check your company
file for errors
Click Verify and complete the
verification procedure.
page 282
Set the locked
periods for your
company file
Click Lock Periods and select
the date defining the locked
period (that is, a period for
which data cannot be entered).
page 263
Load payroll tax
tables
Click Load Tax Tables and then
follow the on-screen
instructions for loading tax
tables.
When you have completed the required maintenance tasks,
click Next. The Account Reconciliation Review window
appears.
This window shows you:
„ the company file name
„ the software release number
„ the location of the company file
„ the size of the company file
„ the date on which the company file was last backed up
254
CHAPTER 17
END-OF-PERIOD PROCEDURES
This window shows you:
„ your bank and credit card accounts
„ the balance of each account
„ the date on which each account was last reconciled.
3
If you want to reconcile an account, select the account and
click Reconcile Accounts. For information on how to
reconcile your accounts, see ‘Reconciling your bank accounts’
on page 58.
4
Click Next. The Transaction Exception Review window
appears.
5
Enter the start date and end date of the period you want to
review.
6
Click Run Review to start the transaction review of the
following:
Transaction review
Description
Reconcile invoices
with the linked
receivables account
The total of all customers balances is
compared to the current balance of the
linked receivables account. If there is an
out-of-balance amount, click Display to
view the Receivables Reconciliation
Exceptions report and analyse the details
of the report.
MONTH-END PROCEDURES
Transaction review
Description
Reconcile purchases
with the linked
payables account
The total of all suppliers balances is
compared to the current balance of the
linked payables account. If there is an
out-of-balance amount, click Display to
view the Payables Reconciliation
Exceptions report and analyse the details
of the report.
Compare item
values with the
linked inventory
account
The total value of items on hand is
compared to the current balance of the
linked inventory account. If there is an
out-of-balance amount, click Display to
view the Inventory Value Reconciliation
Exception report and analyse the details
of the report.
Scan for
future-dated
transactions
The company file is checked for any
transactions dated later than the current
date. If there are such transactions, click
Display to view the Future Dated
Transactions report and analyse the
details of the report.
Scan for prepaid
transactions
The company file is checked for any
prepaid transactions. These transactions
include all customer and supplier
payments (excluding deposit payments)
that have a payment date prior to the date
of the invoice or purchase. If there are
such transactions, click Display to view
the Prepayment Transactions report and
analyse the details of the report.
Scan for deposits
paid
The company file is checked for any
deposits paid (within the date range
specified) on sales orders or purchase
orders.
If any orders have a payment flagged as a
deposit transaction, click Display to view
the Deposit Transactions report and
analyse the details of the report.
255
Transaction review
Description
Review audit trail
changes
If you have selected the Use Audit Trail
Tracking [System-wide] preference, the
company file is checked for any
transaction, tax, payroll accounts and
system changes. If any such changes are
found, click Display to view the Audit
Trail report and analyse the details of the
report.
Check for job
exceptions [Cash
Transactions]
If you have selected the Warn if Jobs Are
Not Assigned to All Transactions
[System-wide] option in the Preferences
window, the company file is checked for
cash transactions (within the date range
specified) that have no job number.
If any transactions are detected with no
job number, click Display to view the Job
Exceptions—Cash Transactions report
and analyse the details of the report.
Check for job
exceptions [Invoice
Transactions]
Reconcile payroll
liability payments
256
If you have selected the Warn if Jobs Are
Not Assigned to All Transactions
[System-wide] option in the Preferences
window, the company file is checked for
sales and purchase transactions (within
the date range specified) that have no job
number.
If any transactions are detected with no
job number, click Display to view the Job
Exceptions—Invoice Transactions report
and analyse the details of the report.
If you use integrated payroll, the total of
payroll liabilities transactions that are
unpaid is checked against the balance of
the linked accounts payable account
Payroll Category.
If there is an out-of-balance amount, click
Display to view the Payroll Liabilities
Reconciliation Exceptions report and
analyse the details of the report.
7
When you have finished viewing and, if necessary, printing
the Transaction Review reports, click Next. The Tax
Exception Review window appears.
8
Enter the start date and end date of the period you want to
review.
9
Click Run Review to do the following:
Review task
Description
Check for tax
amount variances
[Sales]
The company file is checked for variations
between the tax amount posted and the
tax amount calculated for the tax codes
assigned to sales transactions. If a variation
is found, click Display to view the Tax
Amount Variation report and analyse the
details of the report.
Check for tax
amount variances
[Purchases]
The company file is checked for variations
between the tax amount posted and the
tax amount calculated for the tax codes
assigned to purchase transactions. If a
variation is found, click Display to view the
Tax Amount Variation report and analyse
the details of the report.
CHAPTER 17
END-OF-PERIOD PROCEDURES
Review task
Description
Check for tax code
exceptions [Invoice
Transactions]
The company file is checked for sale and
purchases transactions without a tax code
assigned or where the entered tax code is
different to the default tax code. If such a
transaction is found, click Display to view
the Tax Exemptions—Invoice
Transactions report and analyse the details
of the report.
Check for tax code
exceptions [Cash
Transactions].
Reconcile tax code
details with linked
accounts
10
The company file is checked for Spend
Money and Receive Money transactions
without a tax code assigned or where the
entered tax code is different to the default
tax code. If such a transaction is found,
click Display to view the Tax
Exemptions—Cash Transactions report
and analyse the details of the report.
The company file is checked for variances
between the balance of the linked tax
accounts and the amount of tax that has
been collected and paid on transactions. If
variances are found, click Display to view
the Tax Code Reconciliation Exceptions
report and analyse the details of the report.
Click Finish. A message appears asking if you would like to
print a summary report of the audit findings. Click Yes to
print the report or click No to close the Company Data
Auditor window without printing the report.
Task 2: Reconcile bank accounts
Task 3: Review reports
There are several reports that we recommend you review at the
end of each month. You can use these reports to identify and
correct any discrepancies in your records, as well as spot any
trends in your business.
Report
Description
Receivables Reconciliation
Summary
Lists all your outstanding receivables.
Payables Reconciliation
Summary
Lists all your outstanding payables.
Analyse Sales—Customer
Shows your company’s sales activity and
trends on a month-by-month basis.
Analyse Purchases—Supplier Displays your company’s monthly
purchases.
Items List Summary
Lists items on hand and items that need to
be ordered.
Audit Trail
Shows changes made to recorded
transactions, tax codes, payroll, account
details and system settings.
Note that before you can track and report
changes, you need to activate the audit trail
tracking preference. For more information,
see ‘Audit trail tracking system’ on
page 251.
Profit & Loss Statement
Displays your profit and loss figures.
Balance Sheet
Displays your financial position as of the
end of a month.
To ensure the accuracy of your business records, you should keep
your record of each bank account balance matched up with your
bank’s records. For details on reconciling, see ‘Reconciling your
bank accounts’ on page 58.
MONTH-END PROCEDURES
257
Report
Description
Summary Trial Balance
Use this report to identify incorrectly
entered amounts. When reviewing this
report, check for:
• entries that seem unusually large or
small for the account that has been
affected
• debit amounts for accounts that
normally have credit entries, and vice
versa
• unusually high or low ending balances
• an unusually high or low number of
entries for a specific account.
Balance Sheet Budget
Analysis
Lists account balances as at the end of a
selected month, along with the budgeted
amounts for them. If changes need to be
made to the amounts you’ve budgeted for
the coming months, you can adjust your
budget.
Profit & Loss Budget
Analysis
Lists account balances for a selected period,
along with the budgeted amounts for
them. If changes need to be made to the
amounts you’ve budgeted for the coming
months, you can adjust your budget.
Statement of Cash Flow
Shows how your cash position has changed
over a period of time, what profit you have
earned, where you received additional
cash, and where your cash was spent.
Cash Flow Worksheet
Enables you to estimate your short-term
cash needs. For more information, see
‘Analysing your cash flow’ on page 63.
Create a report batch You may find it useful to create a
batch for your month-end reports and print them all in one go. For
more information, see ‘Printing report batches’ on page 205.
NOTE :
258
Task 4: Report and pay superannuation
contributions
If you have employees, you are required to pay superannuation
guarantee contributions at least quarterly. These contributions
must be paid within 28 days of making the final contribution for
the quarter.
Superannuation
guarantee
Cut-off date for superannuation
guarantee contributions
1 July–30 September
28 October
1 October–31 December
28 January
1 January–31 March
28 April
1 April–30 June
28 July
You can use reports to view superannuation contributions
payable to superannuation funds and use the Pay Liabilities
feature to record payments. For information, see
‘Superannuation reporting’ on page 133 and ‘Payroll liabilities’
on page 132.
Task 5: Report and pay payroll tax
If your monthly or annual wages are over a certain amount, you
may be liable to pay payroll tax. Usually, payroll tax is paid
monthly.
You can use the Payroll Tax report and the Accruals by
Category (Payroll Tax) report to view your payroll tax liability.
You can access these reports in the Payroll tab of the Index to
Reports window.
NOTE : Filter the Payroll Tax report for the entire month When
you produce the Payroll Tax report, you should enter the date
range for the entire month for which you want to view your payroll
tax liability.
CHAPTER 17
END-OF-PERIOD PROCEDURES
Once you have confirmed the amount you need to pay, you can
create a Spend Money transaction to record the payment.
Before you can calculate payroll tax You need to set up
your payroll tax information in your company file before you can
calculate payroll tax. For information about setting up your payroll
tax information, see ‘Payroll tax reporting’ on page 135.
NOTE :
Task 6: Send customer statements
Most businesses send statements to customers who have
outstanding balances at the end of a month. You can print out
and send these statements through the post or send them via
email.
To print a customer statement
1
Go to the Sales command centre and click Print/Email
Statements. The Review Statements Before Delivery
window appears.
2
Click the To Be Printed tab.
3
In the Statement Type field, select the type of statement you
want to print.
„ Invoice statements list all invoices aged as at a specified
date.
„ Activity statements list all sales invoices, payments, and
orders with a customer deposit within a specified date
range. Activity statements include a running account
balance.
4
Specify the statement period.
„ If you selected Invoice as the statement type, enter an
ageing date to display invoices outstanding as at that date.
If you want to include only invoices recorded up to the
statement date, select the Only include invoices up to
Statement Date option.
„ If you selected Activity as the statement type, enter the
statement date range in the From and to fields.
MONTH-END PROCEDURES
5
Type the number of statements you want to print per
customer in the Print field.
6
If you want to customise or filter the statement information,
or to change the type of form it will be printed on, click
Advanced Filters. For more information, see ‘Advanced
filters’ on page 215.
7
Click in the select column (
printing statements for.
8
Click Print.
) next to the customers you are
To email a customer statement
1
Go to the Sales command centre and click Print/Email
Statements. The Review Statements Before Delivery
window appears.
2
Click the To Be Emailed tab.
3
In the Statement Type field, select the type of statement you
want to email.
„ Invoice statements list all invoices aged as at a specified
date.
„ Activity statements list all sales invoices, payments, and
orders with a customer deposit for a specified date range.
Activity statements include a running account balance.
4
Specify the statement period.
„ If you selected Invoice as the statement type, enter an
ageing date to display invoices outstanding as at that date.
If you want to include only invoices recorded up to the
statement date, select the Only include invoices up to
Statement Date option.
„ If you selected Activity as the statement type, enter the
statement date range in the From and to fields.
5
Click in the select column ( ) next to the customers to
whom you want to email statements.
259
6
7
8
If you want to change a customer’s email address, select the
customer’s name and then select another address from the
the Email Address list. Alternatively, type a different address
in the Email Address field.
Type the subject title and message of the email or accept the
default subject and message. If you want to change the
default message, click Email Defaults and make the changes
as appropriate.
To record depreciation
Before you can record depreciation for an asset, you need to
create an asset account and an expense account for each type of
asset you depreciate. You only need to create these accounts
once.
1
Click Advanced Filters to filter and customise the
information to be displayed in the customer statement.
You might use advanced filters, for example, if you want to
use a different message or subject for different customers. For
more information, see ‘Advanced filters’ on page 215.
9
In the following example, we have a header account, Motor
Vehicles - Company Vans numbered 1-2300, and a detail
account Company Vans - At Cost) numbered 1-2310. We have
created a new asset account called Company Vans - Accum
Dep’n numbered 1-2320. Notice that the header account
shows the current book value of the van.
Click Send Email.
Task 7: Record depreciation
Your company’s vehicles and equipment lose value each year.
Part of the cost of vehicles and equipment can be allocated as an
expense to your company each year you benefit from their use.
The allocation of the cost of a piece of equipment over its useful
life is called depreciation.
There are several methods of recording depreciation. Consult
your accountant to see which method is best for you.
If you depreciate your assets at the end of the financial
year, make this step a part of your end-of-year routine. Consult your
accountant for information about when to depreciate your assets.
NOTE :
Your software doesn’t calculate depreciation automatically, but
you can record your depreciation figures with a journal entry.
260
Create a new asset account for each type of asset you
depreciate. Add the words ‘Accum Dep’n’ (for Accumulated
Depreciation) at the end of each new account name. Give the
new account a number that allows it to come after its
corresponding asset account in the accounts list. For more
information on creating a new account, see ‘Setting up
accounts’ on page 28.
2
Create a new expense account. You may want to call it
Depreciation.
3
Once you’ve determined your depreciation amounts, make
journal entries to credit the new accumulated depreciation
asset accounts (for example, the Company Vans - Accum Dep’n
account) and debit the new depreciation expense account.
The accumulated depreciation asset accounts will always
have a negative balance to show a reduction in the value of
the depreciable assets.
CHAPTER 17
END-OF-PERIOD PROCEDURES
„
„
PAYG Instalments information, if registered
PAYG Withholdings information, if registered.
For detailed help in this window, click Help.
4
Click OK.
To prepare your activity statement
Task 8: Lodge your activity statement
(BAS or IAS)
You can use the BASlink feature to prepare your Business Activity
Statement (BAS) or Instalment Activity Statement (IAS).
Before you begin, you need to set up your activity statement
information.
1
Go to the Accounts command centre and click BASlink. The
BASlink window appears.
2
Select the last month of your reporting period.
3
If you have set up your company file with 13 periods, and
want to include the 13th period transactions in your activity
statement, select the Include 13th Period Transactions
option.
4
Click Prepare Statement. The MYOB BASlink window
appears.
Using BASlink for the first time If you are using
BASlink for the first time, a window appears with the option to
open the BASlink Help window. Click Yes, if you need set up
assistance.
NOTE :
Electronic activity statement lodgement If you plan to
lodge your activity statement using the ATO’s Electronic Commerce
Interface (ECI) or Business Portal software, you need to set up the
software on your computer and import your Electronic Certificate
from the ATO to that application. For more information, contact the
ATO.
NOTE :
To set up your activity statement information
1
Go to the Accounts command centre and click BASlink. The
BASlink window appears.
2
Click BAS lnfo. The BAS Information window appears.
3
Specify your activity statement information. You need to
specify:
„ GST information (such as your accounting basis, reporting
frequency and calculation method), if registered
MONTH-END PROCEDURES
261
5
Assign tax codes, accounts and payroll categories to activity
statement reporting fields.
11
You only need to do this if you are using BASlink for the first
time, or you have added new tax codes, accounts or payroll
categories since your last reporting period.
6
7
262
Click Save Setup & Exit to save your current BASlink setup
and the details of your current activity statement reporting
period. A window appears, reminding you to back up your
activity statement. Click Yes, to create a backup copy of your
activity statement details.
For more information on how to set up BASlink fields, click
Help.
To lodge your activity statement with the ATO
If you are registered for GST, review the GST calculations in
the GST Worksheet for BAS tab.
a Click a BAS field label to view a description of the field. For
example, click the G1 label (
) to view a description of
the G1 field.
b If you need to add a tax code to a BAS field, click Setup
next to the required field.
Once you have prepared your activity statement information
using BASlink, you can lodge your activity statement
electronically or by post.
Review the information on the Front sheet and Back sheet
tabs.
a Click a BAS field label to view a description of the field. For
example, click the W1 label (
) to view a description of
the W1 field.
b If you need to add a tax code to a BAS field, click Setup
next to the required field.
c If you need to link an account to a BAS field, click Link next
to the required field.
„
Completing the activity statement manually and sending
by post. Copy the BASlink values to the Business Activity
Statement or Instalment Activity Statement sent to you by the
ATO. Also send the tax payable to the ATO by the payment
due date on the activity statement.
„
Lodging the activity statement electronically. If you use the
ATO’s Electronic Commerce Interface (ECI) software or
Business Portal, type the BASlink values in the corresponding
fields on the electronic version of the activity statement.
To record your activity statement transaction in your
company file
1
Go to the Banking command centre and click:
„ Spend Money, if you are recording a payment to the ATO.
The Spend Money window appears.
„ Receive Money, if you are recording a receipt from the
ATO. The Receive Money window appears.
8
Click Check to check your activity statement for errors. If
there are any errors—for example, a field has not been
completed or has an invalid amount—an Error List appears
detailing the error and the field name.
9
If you need a copy of the activity statement for your records
(recommended), click Print. You can also use the printed
statement to copy the field values to the ATO’s paper or
electronic activity statements.
2
Enter the details as appears in the transaction you printed at
step 10 in ‘To prepare your activity statement’, above. Note
that you should assign the N-T (not reportable) code to all
transaction lines.
10
Print the ATO transaction that you need to record in your
company file.
a Click Transaction to view a report showing the Spend
Money or Receive Money transaction.
b Click Print.
3
Click Record.
CHAPTER 17
END-OF-PERIOD PROCEDURES
Task 9: Lock periods
After you have completed your month-end tasks, you should lock
that period using the Lock Periods feature. This will prevent
anyone from inadvertently making an entry in a period in which
you don’t want new entries. To do this:
Go to the Setup menu and choose Preferences. The
Preferences window appears.
1
2
Click the Security tab.
3
Select the Lock Periods: Disallow Entries Up to and
including [System-wide] option, and select the relevant
date.
This selection places a temporary lock on the date you select
and the period before it. If you need to make an entry in a
locked period at a later time—for example, you locked 31st of
May, and now want to make an entry in April— you can
unlock that date in the Preferences window.
Starting a new financial year
This section describes the tasks you need to perform at the end of
your financial year to prepare your company file for the coming
year.
You don’t need to close your financial year at any particular time.
You can continue to use your company file after the last month of
your current financial year.
Complete the tasks listed below to close your financial year and
start a new one.
Task
See
1
Complete month-end tasks
below
2
Perform a stocktake
below
3
Provide information to your accountant
below
4
Enter end-of-year adjustments
page 264
5
Back up your company file
page 265
6
Start a new financial year
page 266
7
Optimise and verify your company file
page 266
STARTING A NEW FINANCIAL YEAR
Task 1: Complete month-end tasks
Make sure you complete each of the month-end tasks. See
‘Month-end procedures’ on page 253.
Task 2: Perform a stocktake
If you track inventory quantities and values, you should perform a
stocktake when all transactions affecting inventory for the
financial year have been entered. For more information on how
to perform a stocktake, see ‘Performing stocktakes’ on page 164.
Task 3: Provide information to your
accountant
Once you have completed your year-end tasks, you can send
your accounting data to your accountant. If your accountant uses
MYOB Accountants Office, you can export your accounts list,
journal entries, sales and purchases directly to your accountant as
a tab-delimited text file. This file can be sent by email or saved to
disk.
263
When you export financial information to MYOB Accountants
Office, the Receivables Reconciliation Exceptions, Payables
Reconciliation Exceptions and Bank Reconciliation reports are
included in the file. If inventory or tax exceptions are found, the
Inventory Value Reconciliation Exceptions, Tax Amount
Variance and Tax Code Exceptions reports are also included.
These reports are designed to alert your accountant to any
irregularities in your company file and provide them with
supplementary information to analyse your accounts.
You can also export your accounting data to other accounting
packages, such as Solution 6 MAS, Ceedata, HandiLedger and
CaseWare. For more information about exporting data to these
packages, see the Help Centre.
CAUTION : Choose the reporting months carefully It is
important not to include dates you have included in a previous
export because this would result in double-counting your
transactions. As a precaution, we recommend that you tell your
accountant the periods you have selected.
3
Select the type of information to be provided from the
Information required list.
4
Select the method you want to use to send the information.
„ Email—If you want to email the file, enter your
accountant’s card in the Linked Card for Accountant field
and then click Email. The email address entered on the
card will be used when the email is created in your email
program. The default name for the export file is
companyname.MYE.
„ Disk—If you want to save the file to disk and send it by
post, click Disk. Enter a name and location for the export
file in the dialog that appears. The default file name is
companyname.MYE. You can change the file name if you
want but you must retain the ‘.MYE’ extension.
5
Click Save.
To export to MYOB Accountants Office
1
Go to the Accounts command centre and choose Send to
Accountant. The Reporting Period window appears.
Task 4: Enter end-of-year adjustments
Your accountant is likely to provide you with a number of
adjustments that will need to be entered in your company file as
journal transactions. If the adjustments have been provided on
paper, you can manually enter them in the Record Journal Entry
window.
2
264
Select the month or range of months you want to export. To
select a range of months, click and hold the mouse button on
the first required month and then drag the cursor over the
names of the remaining months.
If you send information to your accountant using the Send to
Accountant feature (see Task 3: Provide information to your
accountant), you can import the adjusting journal entries your
accountant sends you. For more information, see ‘To import from
MYOB Accountants Office’ on page 265. Make sure your
accountant has sent you the journal adjustment file as a text file
with a .txt extension.
CHAPTER 17
END-OF-PERIOD PROCEDURES
To record adjustments manually
1
Go to the Accounts command centre and click Record
Journal Entry. The Record Journal Entry window appears.
To import from MYOB Accountants Office
1
Go to the File menu, choose AccountantLink, then Receive
from Accountant and select Lists of Accounts. The following
window appears.
The general journal number and transaction date appear by
default. You can change these if necessary.
If your company file is set to 13 accounting periods in
the financial year, you can assign your adjustments to the 13th
period by entering an asterisk (*) before the date, for example,
*30/06/2008.
NOTE :
2
[Optional] In the Memo field, enter a comment to describe
the transaction, for example, Depreciation–Motor Vehicles.
3
Each row of information entered in the scrolling list is a line
item. The line item details are identified in the journal
adjustments provided by your accountant.
2
Click OK. The Open window appears.
3
Locate and select the file containing the accounts list sent by
your accountant.
For each line item:
a Type the account number (or name), or select it from the
account list.
b In the Debit and Credit fields, enter the debit or credit
amount for the line item.
c [Optional] In the Job field, enter the job number for the
line item.
d [Optional] In the Memo field, enter a description of the
line item.
e If necessary, change the default Tax code for the account
by typing the required tax code or selecting it from the list.
4
Click Open. The accounts are imported and a message
appears, giving you the results of the import. If there are any
errors, read the information in the MYOBPLOG.txt, which is
located in the same folder as your company file.
Journal entry must be balanced The journal entry
cannot be recorded until the Out of Balance field is zero.
NOTE :
4
Task 5: Back up your company file
Make a backup of your company file after you have finished
entering adjustments and store it in a safe location. See ‘Backing
up and restoring company files’ on page 277.
Make sure you verify the company file as part of the backup
process. See ‘Checking your company file for errors’ on
page 282.
Click Record to record the journal entry.
STARTING A NEW FINANCIAL YEAR
265
Task 6: Start a new financial year
Before starting a new financial year, make sure you have:
„
completed tasks 1–5 above
„
entered all transactions and adjustments as instructed by your
accountant
„
checked with your accountant to ensure no further entries are
required in the company file for the current year.
If you have done all of the above, you are now ready to start a
new financial year.
When you start a new financial year:
„
266
The previous financial year’s monthly totals for all accounts
are changed to last year categories. If last year amounts
already existed, those amounts will be replaced.
„
The balance of your current-year earnings account is
transferred to your retained earnings account.
„
The balances of your income, cost of sales, expense, other
income and other expense accounts are returned to zero.
„
Closed sales, closed purchases, paycheque information and
journal entries assigned to closed sales and closed purchases
are kept or purged according to your selections in the Start a
New Financial Year assistant.
To start a new financial year
Single-user access required Note that this task requires
single-user access. For more information, see ‘Single-user file locking
for special tasks’ on page 286.
CAUTION :
1
Go to the File menu, choose Start a New Year, and then
Start a New Financial Year. The Start a New Financial Year
Assistant appears.
2
Follow the on-screen instructions.
If you need help in any of the windows, click Help and then
choose Help for This Window.
Task 7: Optimise and verify your
company file
Once the Start a New Year procedure is complete, we
recommend that you optimise and verify your company file. For
more information, see ‘Optimising your company file’ on
page 282.
CHAPTER 17
END-OF-PERIOD PROCEDURES
Starting a new payroll year
You must close the payroll year in the last month of your payroll
year or soon after. Otherwise, you will not be able to enter
paycheques for the next payroll year.
„
Do the following tasks to close your current payroll year and start
a new one.
Task
See
1
Process the last pays for the year
below
2
Print payroll reports
below
3
Prepare payment summaries
below
4
Back up your company file
page 274
5
Start a new payroll year
page 274
6
Load the latest tax tables
page 274
7
Optimise and verify your company file
page 274
Task 1: Process the last pays for the year
You must make sure that all pays for the payroll year you are
about to close have been entered. For more information, see
‘Processing your payroll’ on page 123.
Task 2: Print payroll reports
Review the following reports to make sure payroll transactions
are correct.
„
Payroll Register Detail report—shows the pay history of your
employees.
STARTING A NEW PAYROLL YEAR
Payroll Activity Summary report—shows the pay amounts
recorded. Note that this report does not include manual
adjustments, for example, changes to pay history balances
entered in the Payroll Details tab of an employee’s card.
Task 3: Prepare payment summaries
You can use the Payment Summary Assistant to prepare payment
summaries, including Employment Termination Payment (ETP)
summaries, for your employees using either preprinted forms
available from the Australian Taxation Office (ATO) or plain
paper. You can also save a copy of your employee’s payment
summaries as PDF files, to reprint at a later date.
You can:
„
lodge your Individual Non-Business and Employment
Termination Payment forms electronically and provide copies
to your employees by printing them on plain paper. See
page 268
„
complete your Individual Non-Business and Employment
Termination Payment forms manually using forms provided
by the ATO. See page 268.
„
prepare Labour Hire payment summary forms provided by
the ATO. See page 272.
Printing payment summaries on plain paper Plain paper
payment summaries are designed to be printed on A4 plain
paper. These forms are approved by the ATO. Payment
summaries must be printed clearly. You may want to print a
sample payment summary to ensure your printer quality is
adequate.
267
Check the information in the payment summary file you
send to the ATO The Payment Summary Assistant will prompt
you to save your payment summary data as an EMPDUPE file.
This is the file that you send to the ATO.
To prepare individual non-business payment
summaries and ETP summaries
1
Before creating the EMPDUPE file, you can check the information
it will contain by viewing the Payment Summaries Verification
report.
Go to the Payroll command centre and click Print Payment
Summaries. The Payment Summary Assistant window
appears.
The Payment Summaries Verification report details the individual
payment summaries amounts that will be listed in the EMPDUPE
file. We recommend you print the verification report and then
compare the amounts to other payroll activity information, for
example, with information in the Payroll Activity report.
Payroll category totals, gross amounts and tax withheld
amounts, etc., should reconcile between the reports. If they do
not, you can go back and adjust these figures before you finalise
your payment summaries and create the EMPDUPE file.
Sending the EMPDUPE file to the ATO The EMPDUPE file can
be mailed to the ATO or submitted electronically using the
Electronic Commerce Interface (ECI) system. If mailing the
EMPDUPE, save it to an ATO accepted storage medium, such as a
CD, Zip Disk, or other media. The file must be named EMPDUPE.
Select the type of payment summary you want to
prepare
2
268
Select the Individual non-business and Employment
termination payment option, then click Next. The
Company Information window appears.
CHAPTER 17
END-OF-PERIOD PROCEDURES
Enter company information
3
5
Enter any company information that does not already appear
by default, then click Next. The Payment Summary Fields
window appears.
If you are preparing ETP payment summaries:
ETP payroll categories You need to have created and
set up ETP payroll categories before completing this step. For
more information, see ‘Create payroll categories for termination
payments’ on page 137.
NOTE :
a Link the ETP fields to the relevant payroll categories. These
fields are located at the bottom of the list.
b Link payroll categories used to record bona fide
redundancy, approved early retirement or invalidity
payments to the Lump Sum Payment A Redundancy
field. (For more information, see ‘Payroll categories for
Lump Sum Payment A payments’ on page 137.)
c Link payroll categories used to record all other Lump Sum
Payment A amounts to the Lump Sum Payment A
Termination field.
d Repeat for each required field.
6
Click Next. The Reportable Employer Super window
appears.
Link payment summary fields to payroll categories
4
Select a payment summary field in the left column and then
select all the payroll categories that are reportable in this field
in the right column. For example, select Gross Payments and
then click all the payroll categories that are calculated as part
of gross payments, such as base salary, base wages, overtime,
holiday pay, backpay, etc.
STARTING A NEW PAYROLL YEAR
269
Report superannuation amounts
7
Select the reportable superannuation payroll categories:
a Click Link Superannuation Categories. The Link
Superannuation Categories window appears, showing a
list of your superannuation payroll categories.
Report Fringe benefit amounts
b Click in the column next to each superannuation category
you want to select and click OK. The Reportable
Employer Super window reappears.
If a selected superannuation category is linked to an
employee’s pay, an amount appears next to their name in
the list.
c If you want to, you can type a different amount. Note that
if you adjust an amount and then reopen the Link
Superannuation Categories window and then click OK,
adjusted amounts will reset to the calculated amount.
d If you manually change an amount in error or if you change
an employee’s pay details after starting the Payment
Summary Assistant, click Recalc to recalculate the
amounts.
8
270
9
Enter any reportable fringe benefits against the employees
whose payment summaries you are preparing, then click
Next. The Review the Payment Summaries window
appears.
10
Click the zoom arrow next to an employee’s name. The
Employee Payment Summary Information window
appears.
Click Next. The Reportable Fringe Benefit window appears.
CHAPTER 17
END-OF-PERIOD PROCEDURES
16
Click Next. The Verify your Payroll Information window
appears. A summary of the total individual non-business and
ETP amounts is displayed in the window. You can check these
amounts against other payroll reports.
Review the payment summary details
11
Review the details of the amounts in the top section of the
window and make any required changes.
12
[ETP summaries only] In the Employment Termination
Payment Additional Information section of the window
enter the payment date and select appropriate options
relating to the payment.
13
Click OK. The Review the Payment Summaries window
reappears.
14
Repeat from step 11 above for each employee.
Save or print employee payment summaries.
15
If you want to:
a save payment summaries as PDFs, click in the select
column next to the employee’s name and click Save
Payment Summaries.
b print payment summaries for employees, click in the select
column next to the employee’s name and click Print
Payment Summaries.
STARTING A NEW PAYROLL YEAR
Verify your payment summary information
17
If you want to verify your payment summary information
before preparing the EMPDUPE file:
a Click Preview Verification Report and print the Payment
Summaries Verification Report.
b Check that these amounts reconcile with other payroll
activity reports before creating the EMPDUPE file. If they
don’t reconcile, you can go back and adjust them.
18
If you are manually completing the ATO payment summary
forms
a Click Preview Verification Report and print the Payment
Summaries Verification report.
b Click Close to close the Payment Summaries Assistant
and use the Payment Summaries Verification report to
complete your ATO forms. You do not need to complete
the rest of this procedure.
19
Click Next. The Create EMPDUPE File window appears.
271
Create the EMPDUPE file
20
Click Create EMPDUPE File. The Save As window appears.
21
Select the location to store the EMPDUPE file and click Save.
A window appears giving you the option to print the
Magnetic Media Information form.
To print the Labour Hire and Other Specified
Payments report
1
Go to the Payroll command centre and click Print Payment
Summaries. The Payment Summary Assistant window
appears.
2
Select Business and Personal Services Income - Labour
Hire and other specified payments.
3
Click Next. The Payment Summary Fields window appears.
NOTE : Print a Magnetic Media Information information
form If you are sending an EMPDUPE file to the ATO on
magnetic media (for example, on CD-ROM), you will need to
include a Magnetic Media Information form. You can print this
form by clicking Print Magnetic Media Form.
22
Click Next. The Make a Backup window appears.
Back up your company file
23
24
272
If you want to back up your company file:
a Click Backup. A window appears with backup options and
company file error checking options.
b Select the options you want and click Continue. The Back
Up window appears.
c Select the location to store the backup file and click Save.
The Payment Summaries Assistant closes.
If you do not want to back up your company file, click Finish.
The Payment Summaries Assistant.
CHAPTER 17
END-OF-PERIOD PROCEDURES
4
5
6
Link the Labour Hire and Specified Payments summary fields
with your payroll categories.
a Select the payment summary field in the list on the left side
of the window.
b In the list on the right side of the window, click the payroll
categories that should appear in the payment summary
field you’ve selected.
b Click in the column next to each superannuation category
you want to select and click OK. The Reportable
Employer Super window reappears.
If a selected superannuation category is linked to an
employee’s pay, an amount appears next to their name in the
list.
7
If you want to, you can type a different amount. Note that if
you adjust an amount and then reopen the Link
Superannuation Categories window and then click OK,
adjusted amounts will reset to the calculated amount.
8
If you manually change an amount in error or if you change
an employee’s pay details after starting the Payment
Summary Assistant, click Recalc to recalculate the amounts.
9
Click Next. The Review Payment Summaries window
appears.
10
If you want to view or edit an employee’s payment summary
information, click the zoom arrow next to the employee. The
Employee Payment Summary Information window
appears.
a Make any required changes, such as adding the
employee’s tax file number
b Click OK.
Click Next. The Reportable Employer Super window
appears.
Print the Labour Hire report Use the Labour Hire
report to help you complete the PAYG payment
summary—labour hire and other specified payments (NAT
3282) forms supplied by the ATO. To print the Labour Hire
report, click Print Labour Hire Reports and then Print.
Select the reportable superannuation payroll categories:
a Click Link Superannuation Categories. The Link
Superannuation Categories window appears, showing a
list of your superannuation payroll categories.
STARTING A NEW PAYROLL YEAR
NOTE :
11
Click Next. The Finish window appears. This window
provides general instructions for submitting Labour Hire and
Other Specified Payments information to the ATO.
12
Click Finish to close the Payment Summary Assistant
window.
13
Manually transfer the payment summary report information
onto the forms provided by the ATO.
273
Task 4: Back up your company file
Before you start a new payroll year, make sure that you back up
your company file. Once the year is closed, detailed payroll
information will no longer be available for editing. Backing up
your company file allows you to restore a closed payroll year so
you can print reports. For more information, see ‘Backing up and
restoring company files’ on page 277.
Task 5: Start a new payroll year
Single user access This task requires single-user access. For
more information, see ‘Single-user file locking for special tasks’ on
page 286.
NOTE :
Starting a new payroll year will:
„
clear the payroll history from employee cards
„
prevent you from printing payroll reports for the previous
year (unless you keep paycheque information when you start
a new financial year)
„
prevent you from preparing payment summaries for the
previous year
„
carry over entitlement balances that have the Carry
Remaining Leave Over to Next Year preference set in the
Entitlement Information window
„
clear any entitlement balances that do not have the Carry
Remaining Leave Over to Next Year preference set in the
Entitlement Payroll Category window of employee cards
„
prevent you from editing or deleting pay amounts for the
previous year.
To start a new payroll year
1
274
2
If you want to create a backup file before purging payroll
information, click Backup and follow the instructions in the
windows that appear.
3
Click Continue. Follow the on-screen instructions to
complete the process.
Task 6: Load the latest tax tables
Australian tax legislation usually changes at the start of each
payroll year. If the tax legislation has changed for the payroll year
you are starting, you need to update the tax tables in your
company file before processing pays.
NOTE : Receive alerts for tax table updates and software
updates You can register to be alerted about updates to your tax
tables, as well as compliance updates and updated versions of your
software. For more information, see ‘Managing software updates’
on page 284.
1
Go to the Help menu and choose Check for Product
Updates (requires Internet access).
2
If there is a tax table update, follow the on-screen instructions
to install it. You then need to load the tax tables in your
company file.
3
Go to the Setup menu and click Load Payroll Tax Tables.
The Load Tax Tables window appears
4
Click Load Tax Tables.
Task 7: Optimise and verify your
company file
Once the Start a New Payroll Year procedure is complete, we
recommend that you optimise your company file. See
‘Optimising your company file’ on page 282.
Go to the File menu, choose Start a New Year, and then
Start a New Payroll Year.
CHAPTER 17
END-OF-PERIOD PROCEDURES
company files
This chapter explains how you can perform maintenance tasks on your company file (including backing up, restoring and optimising) and how
you can control access to your company file using user accounts.
Managing user accounts
suppliers or customers, and for pinpointing fraudulent
transactions.
If several people enter transactions into the same company file,
you can control which command centres, windows and
transactions they can access with user accounts.
Administrator account The Administrator account is a default
user account always present in all company files and cannot be
deleted. This special user account is the only one with access to
all command centres, functions and windows.
The ability to limit users’ access can help to minimise fraud. For
example, you can prevent a person who places orders from
suppliers from also being able to pay suppliers, minimising the
likelihood of paying false bills.
Restrict access to employee information User IDs can be set
up to restrict access to employee banking and contact
information stored in the card file and on reports. You can set
broad restrictions, such as disallowing access to the employee
card file, or you can set specific restrictions, such as viewing
employee banking details.
The person logged on as Administrator is able to create, edit and
delete ordinary user accounts. For that reason, as soon as you
create a company file, you should supply a password for the
Administrator account; otherwise, any user can log in and enter,
edit and delete transactions without leaving a trace. For
information on how to set up a password for the Administrator
account, see ‘Set a password for the Administrator user ID’ on
page 32.
User accounts A user can only open a company file by
completing the Sign-on window. The user must enter a user ID
and password to gain access to the user account. Then,
whenever a user enters a transaction, it is labelled with the user
ID. This allows you to keep track of who entered particular
transactions, which is useful when following up disputes with
Simultaneous users More than one user can access a company
file simultaneously. The number of users who can access
simultaneously depends on the number of users you are licensed
for.
275
MANAGING USER ACCOUNTS AND COMPANY FILES
18 Managing user accounts and
If you require more users to have access to a company file, you
can purchase additional licences. For more information, see ‘To
obtain additional workstation licences’ below.
To create a user account
8
If you want to copy the restrictions you’ve set up for another
user, type or select an existing user account in the Copy
Restrictions field.
9
Click OK. The new user account appears in the User ID
column of the User Access window.
1
Start your AccountRight software and click Open a company
file in the welcome window that appears. The Open window
appears.
10
Click the new user account in the User ID column, then click
in the Not Allowed column next to those command centres
or functions to be denied to the user.
2
Navigate to and select the company file to be opened, and
click Open. The Sign-on window appears.
11
Click OK.
3
Type Administrator in the User ID field, type the
administrator’s password in the Password field, and click OK.
To obtain additional workstation licences
Note that if you have not set a password for the Administrator
account, leave this field blank.
4
Go to the Setup menu and choose Preferences.
5
In the Preferences window, click the Security tab and then
click User IDs. The User Access window appears.
6
Click New to open the New User Details window.
7
Type the user’s name in the User ID field, then type the
password in the Password and Confirm Password fields.
Before you begin, have your credit card on hand.
1
Start your AccountRight software and open the company file
requiring extra workstation licences.
2
Go to the Setup menu and choose Company Information.
3
In the Company Information window, click License.
4
Call Customer Service at the number displayed in the Enable
Licence window and follow the Customer Service
representative’s instructions.
Write down the confirmation code Ask the Customer
Service representative for the company file’s confirmation
code—you may need it to activate the extra licences you have
just purchased.
NOTE :
5
276
CHAPTER 18
Confirm the extra workstation licences.
„ If you are connected to the Internet, click Enable Online
and click OK.
„ If you cannot connect to the Internet, type the
confirmation code given to you by the representative in
the Enter Confirmation Code field and click OK.
MANAGING USER ACCOUNTS AND COMPANY FILES
Backing up and restoring company files
Backing up is the copying of a company file to some form of
storage medium, such as a CD, different hard disk or other
media. You can use the backup function in your software to
create a compressed archive file with a .zip extension that takes
up less space.
Without a valid backup, you would need to re-create your
company file. You can reduce the risk by making separate
backups to protect your company data—for example, at the
end of each business day.
„
The Restore command closes the company file you’re currently
using, decompresses a backup file so you can use it, and then
opens the backup file.
Single-user access required Making a backup file
requires single-user access. For more information, see ‘Single-user
file locking for special tasks’ on page 286.
Store backups off site. Store monthly and yearly backups in
a safe place, preferably away from your office. Except for daily
rotational backups, do not re-use media.
To make a backup of your company file
CAUTION :
1
Go to the File menu and choose Backup. The Company File
Backup window appears.
Precautions when backing up Avoid common mistakes that
can cause you to lose backups of company files:
„
Take care when backing up multi-user company files [Not
applicable to AccountRight Enterprise installed on Windows
Server]. If multiple users access a company file, you need to
back up the company file on the host computer—including
custom forms, letters and spreadsheet templates you have
created. You can then copy the updated templates to each
workstation and ensure the latest versions are used.
When you do a full backup, ensure that the most recent
versions of custom forms and templates are backed up.
„
„
Don’t store backups on the same hard disk as the
currently used company file. A single disaster can wipe out
all your records.
Make separate backups. A disk failure can corrupt your data
in such a way that you may not notice it during a session. If
you accidentally copy some corrupted data over your
previous backup file, that backup is no longer valid.
BACKING UP AND RESTORING COMPANY FILES
CAUTION : If the backup process does not work When you
installed your software, special software needed for the backup
process was also installed. If a message appears when you try to
use the Backup command, this software may have been
removed from the location where it needs to exist. You may
need to re-install your software to use this feature. Alternatively,
you can contact MYOB Support for help.
277
The Back Up window appears.
2
Select the type of backup you want.
„ If you want to back up your company file and templates,
click Backup all data.
„ If you want to back up only your company file and
M-Powered Services Centre, click Backup Company File
and M-Powered Services Centre only.
3
Choose whether to check your company file for errors before
making your backup by selecting one of the options.
For more information about checking your company file for
errors, see ‘Checking your company file for errors’ on
page 282.
Maintaining data integrity Check for errors so that if
you need to revert to a backup, data integrity is ensured.
NOTE :
Specify where you want to store the backup file.
7
4
Click Continue.
5
If you selected the Do not check Company File for errors
option, the Back Up window appears. Go to step 7 below.
6
If you selected the Check Company File for errors option,
the verification process may take several minutes.
A default filename is assigned.
further details
MYOmmdd.zip
•
•
When the verification process has finished, click OK in the
window that appears. (Note that this window appears
whether or not errors have been found in the company file.)
278
Default filename
CHAPTER 18
mmdd is the month and day from your computer’s
clock
.zip is the file extension and cannot be changed.
[Optional] You can change the name of the backup file.
8
Note that you need to name all your backups with enough
information to tell you when they are from and where you
were up to in data entry—for example, ‘Wednesday,
16.12.09’ or ‘Backup as of 16.12.09’.
9
Click Save. The backup process begins.
10
If you are storing the backup file on a removable storage
device, label all your backups with enough information to tell
you when they were done and where you were up to in data
entry—for example, ‘Wednesday, 16.12.09’ or ‘Backup as of
16.12.09’.
MANAGING USER ACCOUNTS AND COMPANY FILES
Restoring a backup company file
4
Select the folder where you want to save the restored file. By
default, the restored file will be saved in the same folder as the
backup file.
5
Click Save. A message appears showing that the company file
will be restored to the selected folder.
6
Click OK to complete the restore.
To restore a backup
Single-user access required Restoring a backup file
requires single-user access. For more information, see ‘Single-user
file locking for special tasks’ on page 286.
CAUTION :
1
If the backup file is on a removable disk, insert the disk into
the disk drive.
2
Go to the File menu and choose Restore. The Select File to
Restore window appears.
When you restore a file that has not been activated, the
Company File Activation window appears. If you do not need to
enter transactions into the restored file, click I want to mark this
file as Read Only and then click Continue to open the file in
read-only mode.
If, later, you need to activate the read-only file, go to the Help
menu and choose Activate Company File.
NOTE : Restoring from a CD or DVD If you are restoring a backup
file from a CD or DVD, the file will be read-only. To read data from
the file, you need to change the file’s attributes. To do so, right-click
the file, choose Properties and deselect the Read-only option.
If you have selected the Prompt for Data Backup When
Closing option in the Preferences window (Security tab), a
window appears asking if you want to back up your company
file. If you want to back up your company file now, click Yes
and follow the prompts; otherwise, click No.
3
In the Restore window, select the backup file you want to
restore and click Open.
If the backup file is on a removable disk, insert the disk
into the disk drive.
NOTE :
BACKING UP AND RESTORING COMPANY FILES
279
Confirming activated company files
After a company file is activated, once or twice a year you must
confirm its activation for the life of the file. The confirmation
verifies to MYOB that you are running a legal installation of
AccountRight software. When confirmation is due and you
attempt to open an activated company file, the Company File
Confirmation window appears.
view transactions, print reports or export data, but will not be
able to enter any transactions.
NOTE : Confirming a read-only file If you open a company file
that is overdue for confirmation in read-only mode, but then change
your mind, go to the Help menu and choose Confirm Company
File. The Company File Confirmation window appears.
These procedures show you how to confirm an activated
company file and set up automatic confirmation:
„
‘To confirm a company file online’ below.
„
‘To confirm a company file by telephone’ on page 281.
„
‘To set up automatic company file confirmation’ on
page 281.
To confirm a company file online
1
Ensure you are connected to the Internet.
2
In the Company File Confirmation window, click the I use
this company file to record or edit my business
transactions option.
3
Choose Confirm online from the list and then click
Continue. Your serial number and company file code are sent
to the MYOB confirmation server, which returns a
confirmation code and extends the file activation.
You have a period of grace in which to confirm the company file,
indicated under the Confirm Your Company File heading.
Frequent requests to confirm Under normal
circumstances, confirmation occurs once or twice a year. If, after
confirming a company file, your software asks you within a short
time to confirm it again, see ‘Troubleshooting activated company
files’ on page 281.
NOTE :
The Company File Confirmation – Confirmed window
appears.
If you don’t want to confirm immediately, click the I use this
company file to record or edit my business transactions
option, then select Confirm later and then click Continue to
open the file. After the period of grace expires, the company file
can be opened only in read-only mode, in which you can still
280
CHAPTER 18
4
Click OK and in subsequent windows choose the options
relevant to your business needs until a command centre
appears. The company file has been confirmed and you can
continue to enter transactions.
MANAGING USER ACCOUNTS AND COMPANY FILES
To confirm a company file by telephone
1
2
In the Company File Confirmation window, click the I use
this company file to record or edit my business
transactions option.
Choose Confirm by phone from the list, then click
Continue. The Company File Confirmation – By Phone
window appears.
3
Call on the telephone number displayed under the Company
File Code field.
4
Follow the instructions to receive your confirmation code.
5
Type the confirmation code in the Confirmation Code field
and click Continue.
NOTE : Confirmation code used only once After you confirm
your company file, the confirmation code cannot be used to
confirm this or any other company file again. You must get a
new confirmation code each time your software requests
confirmation.
6
7
If you have an Internet connection and you prefer your
software to perform subsequent confirmations automatically,
select the I want to use Automatic Confirmation option.
Click OK and respond to subsequent windows until a
command centre appears. The company file has been
confirmed and you can continue to enter transactions.
To set up automatic company file confirmation
You can set up your software to confirm company files over the
Internet automatically.
1
Open your company file.
2
Go to the Setup menu and choose Preferences.
3
In the Preferences window, click the Security tab.
4
Select the I Prefer to Use Automated Online Company File
Confirmation option and click OK.
From now on, your software confirms the company file
automatically and displays a notification of successful
confirmation each time.
Troubleshooting activated company files
The activation and confirmation of company files is sensitive to
changes of the date in your computer’s system clock. In some
circumstances, changes in the system date may require you to
confirm the company file again.
Note that if you confirm a company file several times within a
short period of time, you may be prevented from using the file
until you contact MYOB Customer Service.
NOTE : Confirmation help For more information about the
confirmation process, and additional troubleshooting tips, click the
‘Activation FAQs’ link in the Company File Confirmation window.
Workstations out of synchronisation If multiple users on
different workstations are accessing a company file
simultaneously and the dates in the system clocks of one or more
workstations differ, you will need to synchronise clocks and
confirm the company file the next time you open it.
Internet connection required When your software
attempts to confirm the activation of the company file automatically
and you are not currently connected to the Internet, a window
appears requesting you to connect.
NOTE :
CONFIRMING ACTIVATED COMPANY FILES
281
Servicing your company file
Checking your company file for errors
Optimising your company file
In addition to having your company file automatically checked
for errors before creating a backup, you can check your company
file any time you choose.
Over time, your company file will grow considerably in size. As
you enter transactions, then remove or purge them, the file will
have unused areas that once contained these transactions.
By checking your company file for errors, you can identify minor
problems in the file before they cause serious problems.
These unused areas can affect the efficiency with which
operations are performed in the company file. We recommend
that you use the Optimisation Assistant to remove the unused
areas in the company file and keep your accounting software
running efficiently.
Single-user access for checking company files This task
requires single-user access. For more information, see ‘Single-user
file locking for special tasks’ on page 286.
NOTE :
NOTE : Single-user access for checking company files This task
requires single-user access. For more information, see ‘Single-user
file locking for special tasks’ on page 286.
To check your company file for errors
1
Go to the File menu and choose Verify Company File. A
confirmation window appears.
2
Click OK to confirm that you want to verify your company
file. Your company file is scanned for errors. When the file
verification process is complete, a message appears
describing the results of the process.
CAUTION : Optimising multi-user company files If multiple users
are accessing a shared company file on a host computer, optimise
the company file on the host.
If no errors were found, click OK to end the verification
process.
1
Open the company file to be optimised.
2
Go to the File menu, choose Optimise Company File. An
information window appears.
3
Click OK to continue. The Optimisation Assistant window
appears.
4
Click Continue. The Open an AccountRight Data File
window appears.
5
Locate the company file and click Open. The optimisation
process begins.
6
When the process is finished, a window will appear,
confirming the company file has been optimised.
To optimise a company file
If your company file is corrupted, you can:
„ Attempt to repair the company file by optimising it—see
‘Optimising your company file’ below—and repeat this
procedure to check if the errors have been fixed.
„ Restore the company file from your most recent
backup—see ‘Restoring a backup company file’ on
page 279.
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MANAGING USER ACCOUNTS AND COMPANY FILES
7
If you want to optimise another company file, click Continue
and repeat from step 5 on page 282.
To purge information
8
Click Close.
CAUTION :
Purging information that is no longer
needed
Purging is the process of removing data from your company file.
After you have used a company file for a long time, you will
notice that the size of your file has grown considerably.
Information such as journal entries, sales, purchases, business
contacts, activity slips and sales history figures builds up over
time.
If your company file has grown large, you can remove
information that is no longer needed to improve your software’s
efficiency and performance. However, you should be particularly
careful about purging transactions that haven’t been included in
a Business Activity Statement. After transactions are purged, they
will no longer appear in any report.
The procedure for purging information applies if you are
purging:
„
journal entries (including prior year paycheques)
„
sales
„
purchases
„
business contacts
„
contact logs
„
activity slips
„
sales history figures.
Purging activity slips
When purging activity slips, note the following:
™ If you’ve billed an activity slip on an invoice, you can purge
that activity slip only if the invoice on which it was billed has
been purged.
SERVICING YOUR COMPANY FILE
Purging multi-user company files Purging a company
file requires single-user access. For more information, see
‘Single-user file locking for special tasks’ on page 286.
1
Open the company file to be purged.
2
Create a backup file. See ‘Backing up and restoring company
files’ on page 277.
3
Go to the command centre related to the information you
want to purge. The information you can purge is dependent
upon the command centre you are in. For example, if you are
in the Sales command centre, you can only purge closed
invoices.
4
Go to File menu and choose Purge [...]. The Purge [...]
wizard window appears.
5
Click Continue and follow the instructions to complete the
purge.
Troubleshooting file-locking problems
When a company file is open, a temporary file called a lock file is
created in the folder where the company file is stored. This file,
called ‘Lock000*.flk’, keeps track of who is using the company
file. When you log out of the company file, the lock file is deleted
automatically.
Sometimes, however, the lock file is not deleted. This can happen
if your computer crashes or an error causes your company file to
close unexpectedly. Lock files can accumulate in the company file
folder, resulting in error messages appearing when you try to
access your company file again.
To resolve these error messages, you must exit your AccountRight
software, open the folder that contains the company file and
delete any lock files that it contains. You should then be able to
open your company file without an error.
283
Managing software updates
AccountRight software updates are regularly provided to help
you better manage your business and to ensure that your
business complies with current government legislation, such as
PAYG withholding amounts.
2
Go to the Help menu, choose Updates and then choose
Register for updates. The Register for Update Alerts
window appears.
3
Enter your 12-digit AccountRight serial number.
4
Click Register for Updates.
5
[Not applicable to AccountRight Enterprise installed on
Windows Server] Repeat this procedure on each computer
that you run AccountRight on.
Software Manager is a web-based tool that notifies you that your
software has been updated, and enables you to install the update
from the web.
Software Manager alerts notify you when an update is available.
You can install the update immediately or download it to your
computer to install later. You can also manually check for and
install updates at any time.
Before you can use Software Manager, you need to register for
software updates.
To register for software updates
You need your 12-digit AccountRight serial number to register for
updates.
Locating your AccountRight serial number A 12-digit serial
number was provided to you when you purchased your software.
You can also find your serial number in the Company Information
window of your company file (go to the Setup menu and choose
Company Information).
TIP :
1
284
Make sure you are connected to the Internet.
CHAPTER 18
MANAGING USER ACCOUNTS AND COMPANY FILES
To manually install software updates
1
2
Select the update and click:
„ Install to install the update immediately.
„ Download Only to download the update to your computer
to be installed later.
3
[Not applicable to AccountRight Enterprise installed on
Windows Server] Repeat this procedure on each computer
that you run AccountRight on.
Go to the Help menu, choose Updates and then Check for
Updates. The Software Manager window appears.
To check for updates
™ Go to the Help menu and choose Updates, then choose
Check for Updates.
Special considerations for networked company files
You need to be aware of factors that affect the way you work
when multiple users access a company file over a network.
Preferences in a network environment
See:
Some of the choices in the Preferences window of your software
can affect how everyone works with your company file. These
preferences are clearly marked System-wide.
„
Preferences in a network environment, below.
„
Preventing data entry while generating reports, page 287.
„
Storing custom reports and forms on a network, page 288.
Multi-user file locking for daily transactions
„
Displaying up-to-date information, page 288.
„
Improving performance, page 288.
Multi-user file locking ensures that changes cannot be made in a
window while related data is being changed by another user in
another window.
SPECIAL CONSIDERATIONS FOR NETWORKED COMPANY FILES
285
For example, a user is recording information in a sales transaction
window while another user is changing details of the customer
card being used in the sales transaction. In this situation,
multi-user file locking disallows changes being saved in one of
the windows until the changes have been saved in the other
window.
If you would like to know when another user has changed data in
a window, go to the Setup menu, choose Preferences, click the
System tab, and select the Automatically Refresh Lists When
Information Changes option. If another user changes
information you are viewing, software closes your window. When
you reopen it, the data is updated.
View a list of current users If you have been prevented from
accessing the company file, you can determine which user is locking
you out. To view the list of current users, go to a computer that has
access to the company file and choose Active Workstations from
the File menu.
TIP :
The tasks that require single-user file locking include:
„
backing up a company file
„
restoring a backup file
„
company file verification
„
purging data
„
exporting data
„
importing data
„
starting a new financial year
„
creating, changing or deleting report batches
„
optimising a company file
„
setting up, changing or removing user accounts.
Problems with lock files
Single-user file locking for special tasks
Only one user should have access to the company file during file
maintenance procedures such as backing up, checking and
optimising. For example, optimising a company file rearranges its
internal structure, so you do not want someone else accessing
the file while this process is taking place. Other single-user tasks
are part of bookkeeping practice. For example, when you print a
report, you do not want anybody to change data, that will
appear in the report while it is being printed.
TIP : View a list of current users To check whether any other
users are currently using the company file, before you set a
single-user lock, go to the File menu and choose Active
Workstations.
To let you know when another user is already accessing a shared
company file, your software displays the File is busy; access
denied message when you try, at the same time, to save a
transaction or otherwise write data. When you see this message,
wait a few moments for the other person’s transaction to finish
and for your software to delete the lock file, and then click Retry.
If the power fails, if you switch off your computer while your
software is running, or if your system crashes, your software is
unable to delete the lock file. You will need to delete the lock file
manually. See ‘To delete lock files’ below.
The following situations can cause lock files to accumulate in the
folder where the company file is stored, resulting in various error
messages when you try to open the company file:
„
Someone else is currently signed on with the same User
ID. Someone else is using the company file with your user ID,
or a lock file from an irregularly ended session is present.
To enable single-user access, click Single-user access in the
Sign-on window.
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CHAPTER 18
MANAGING USER ACCOUNTS AND COMPANY FILES
„
No more than ten company files in any folder may be
opened at one time. There are more than ten lock files—the
maximum permitted—in the folder where the company files
are stored. This can occur legitimately if there are more than
ten company files in the folder, ten of which are open
simultaneously, so that an eleventh open file would create an
(illegal) eleventh lock file.
It is possible that ten lock files have accumulated in the folder
owing to crashes and other problems.
„
You have reached the maximum number of simultaneous
users allowed under your AccountRight software
Workstation Licence. If you know this is incorrect, the
problem may be a lock file.
Any of the above messages may mean that there are old lock files
cluttering the folder where you store the company file. You need
to delete the lock files to enable your software to function
correctly.
To delete lock files
1
Ensure all users are logged out of the shared company file.
2
Close your AccountRight software.
3
Locate the folder where you keep the shared company file.
4
Delete all lock files.
A locked file is named Lock####.flk, where ####
represents a number from 0001 to 0010. If there is more than
one company file in the same folder, the number allows your
software to create a different named lock file for each
company file.
5
Restart your AccountRight software and open the shared
company file.
SPECIAL CONSIDERATIONS FOR NETWORKED COMPANY FILES
Preventing data entry while generating
reports
If there are multiple users accessing a company file at the same
time and you want to print or view a report, we recommend that
you prevent data changes during report generation so that other
users cannot make entries in the company file that will affect the
report.
Before you print or display a report, open the Report
Customisation window and select the Prevent Data Changes
During Report Generation option (located on the Finishing tab
of the Report Customisation window). This turns on multi-user
file locking and prevents other users from editing the company
file while reports are generated.
Some reports take time to be generated. Consider printing
lengthy reports at times when no one else is using the company
file.
Storing custom reports and forms on a
network
When you create custom reports and forms, information about
them is stored on the workstation where they were created and
not on the network. Other users of the same company file won’t
be able to use your custom reports and forms unless you copy
them to the appropriate locations on other workstations. (You
may want to ask your system administrator to perform this task.)
Your custom reports are stored in the Custom folder and your
custom forms are stored in the Forms folder. Both these folders
are located inside your AccountRight software program folder.
287
Displaying up-to-date information
Improving performance
Each time you open a list window (such as the Find Transactions
window) or display a report in the Report Display window, the
information that is displayed matches the contents of the
company file as of the moment you opened the list or displayed
the report.
The following list outlines a number of ways in which you can
improve the efficiency of your software:
However, if you keep the list or report displayed on your
computer screen for some time, the data that other users entered
during that time will not be included in your list or report. You
can update the information automatically or manually:
„
Automatic update. Go to the Setup menu, choose
Preferences and then click the System tab. Select the
Automatically Refresh Lists when Information changes
option.
NOTE : Automatic refreshing slows response Consider
whether you need to have on-screen information refreshed
automatically. If you choose this option, your software will
operate more slowly for everyone who is accessing the company
file. If speedier data entry is a priority, we recommend that you
choose to manually refresh information regularly.
„
288
Manual update. Go to the Window menu and choose
Refresh All. To update an on-screen report in the Report
Display window, click Redisplay.
CHAPTER 18
„
Use single-user access whenever possible.
„
Optimise your company file frequently—see ‘Optimising your
company file’ on page 282.
„
Do not select the Automatically Refresh Lists when
Information Changes option in the Preferences window.
„
Do not select the Warn for Duplicate [...] Numbers on
Recorded Purchases option in the Purchases view of the
Preferences window.
„
Use Easy-Fill when entering card names, account names, and
item numbers or names.
„
Avoid leaving list windows open.
„
Use only a few linked accounts for inventory items.
„
Combine line-item quantities on sales and purchases.
„
Generate large reports when you’re the only person using the
company file.
„
Print reports for a specific month instead of for a date range.
MANAGING USER ACCOUNTS AND COMPANY FILES
exporting data
Exporting data
You can take data entered in your company file and use it in other
software or in other company files. This process is called exporting
data.
If your accountant uses MYOB Accountants Office, you can
export financial information (including your accounts list, journal
entries, BAS information, sales and purchases) directly to MYOB
Accountants Office as a tab-delimited text file. This file can be
sent by email or saved to disk. For more information, see ‘Provide
information to your accountant’ on page 263.
Some of the types of information you can export are tax codes,
accounts, items, general journal entries, inventory adjustments,
receive money transactions, spend money transactions, sales,
purchases, cards, jobs, activities and activity slips.
To export data
Exporting timesheets When you export timesheets, only
the entries that don’t have activity slips associated with them are
included. You must export activity slips to complete the process.
NOTE :
1
Go to the File menu, choose Export Data and then choose
the type of data you want to export. The Export File window
appears.
The data can be exported to a tab-delimited or
comma-separated text file.
2
Select the export file format and the type of the first record.
For detailed field help, click Help, and then choose Help for
This Window.
Single-user mode required for data export You cannot
export data when more than one user are logged in. For more
information, see ‘Single-user file locking for special tasks’ on
page 286.
3
Click Continue. The Export Data window appears.
4
Choose the fields you want to export and the order in which
you want to export them. To do this, click on the first field you
want to export in the AccountRight fields column. Field 1
will appear in the Export Order column next to the field you
NOTE :
289
APPENDIX A : IMPORTING AND EXPORTING DATA
Appendix A: Importing and
selected. The field name will appear at the top of the Export
Fields column on the left side of the window.
5
Repeat the previous step for each field you want to export.
If you want to remove a field’s name from the Export Fields
column, click its name in the AccountRight Fields column. If
you want to export all the fields in the order they’re shown in
the AccountRight Fields column, click Match All.
6
When you have selected the fields, click Export.
7
In the Save As window that appears, enter a name and
location for the export file and click Save. The data is
exported and saved as a text file.
Importing data
You can take data entered in other software programs and
incorporate it into your company file. You can also incorporate
information from one AccountRight company file into another
AccountRight company file. This process is called importing data.
Some of the types of information you can import are: tax codes,
accounts, items, general journal entries, inventory adjustments,
receive payments transactions, receive money transactions,
spend money transactions, pay bills transactions, sales,
purchases, cards, jobs, activities and activity slips.
Importing timesheets When you import timesheets, only
the entries that don’t have activity slips associated with them are
included. You must import activity slips to complete the process.
NOTE :
NOTE : Single-user mode required for data import
You cannot
import data when more than one user are logged in. For more
information, see ‘Single-user file locking for special tasks’ on
page 286.
If you are importing from Quicken In the Help Centre,
choose Importing/Exporting > Importing and Exporting Table of
Contents, and click the ‘To import QIF’ topic.
If you are importing an accounts list If your accountant uses
MYOB Accountants Office, you can import an accounts list from
it. For more information, see ‘Importing an accounts list from
MYOB Accountants Office’ on page 292.
The data can be imported from a tab-delimited or
comma-separated text file.
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APPENDIX A:
IMPORTING AND EXPORTING DATA
b Click the matching field in the AccountRight Premier or
To import data
AccountRight Enterprise fields column.
The import field you selected appears in the Matching
Import Field column.
Before you start the import process, you will need to export the
data you want from the program you’ve used to create the data.
The data you want to import must be in tab-delimited or
comma-separated file format.
Some fields must be imported Fields that have an
asterisk (*) next to them must have matching import file
fields assigned to them.
NOTE :
Before you import data you should make a backup of your
company file. See ‘Backing up and restoring company files’ on
page 277.
NOTE :
c If all the fields in the import file match those in the
1
Go to the File menu, choose Import Data and then choose
the type of data you want to import. The Import File window
appears.
2
Select the import file format, the type of the first record, and
the method of handling duplicate records. For more
information, click Help and then choose Help for This
Window.
3
Click Continue. The Open window appears.
4
Locate and select the file you want to import and click Open.
The Import Data window appears.
AccountRight Premier or AccountRight Enterprise
Fields column, click Match All to match all fields
simultaneously.
6
Click Import to import the data. If you get a warning or an
error message indicating that the import was not successful,
refer to the import log file in your software program folder for
a list of errors or warnings. This is a text file—readable by
most word processors and text editors—which lists the
problems encountered during the import. It is called
MYOBPLOG.txt.
7
Click OK.
Importing from MYOB RetailManager or
MYOB RetailBasics
If you use MYOB RetailManager or MYOB RetailBasics as your
point-of-sale software, you can import information to your
AccountRight accounting software.
Some of the types of information you can import are:
5
Match the import fields with fields in the AccountRight fields
column. To do this:
a Click the name of a field in the Import Fields column.
IMPORTING DATA
„
your supplier details
„
goods received transactions (imported as bills)
„
general journal entries summarising other transactions (such
as sales income and cost of sales).
Before you can import your data, you must export the data from
RetailManager or RetailBasics as a text file (Retail.txt) and save it
291
in the your AccountRight software program folder. The import
file will be detected and the import process will automatically
begin when you open your AccountRight company file. Note
that if you save the import file in another location, you will need
to import it manually.
To import RetailManager or RetailBasics data
1
In your AccountRight software, go to the Setup menu and
choose Preferences. The Preferences window appears.
2
Click the System tab and select the I use MYOB
RetailManager option.
3
To import the accounts list provided by your
accountant
1
Go to the File menu, choose AccountantLink, then Receive
from Accountant, and choose List of Accounts. A message
appears, informing you that the account levels might be
reset.
Click OK and exit your AccountRight software.
2
Click Yes if you want to continue the import. The Open
window appears.
You only need to set this preference the first time you
import from MYOB RetailManager.
3
Select the file containing the accounts list sent by your
accountant. The default name of the file is MYOB_SET.txt.
However, your accountant may have renamed the file.
4
Click Open to open the file and begin the import process.
NOTE :
4
Once you have imported an accounts list from MYOB
Accountants Office, you can import journal transactions from
your accountant. For more information, see ‘Enter end-of-year
adjustments’ on page 264.
Start your AccountRight software and open your
AccountRight company file. If there are transactions that
need to be imported, the import process will occur
automatically.
If you get a warning or an error message indicating that the
import was not successful, refer to the import log file in your
AccountRight software program folder for a list of errors or
warnings. It is called MYOBPLOG.txt.
The accounts are imported and a message is displayed, giving
you the results of the import. If you get a warning or an error
message indicating that the import was not successful, refer
to the import log file in your software program folder for a list
of errors or warnings. This is a text file—readable by most
word processors and text editors—and lists the problems
encountered during the import. It is called MYOBPLOG.txt.
Importing an accounts list from MYOB
Accountants Office
When you create a company file, you can choose to import an
accounts list from a file provided by your accountant (see ‘Create
a company file’ on page 22). If the file was created by MYOB
Accountants Office—with a .txt extension—follow this procedure
to import the accounts list. (Ask your accountant for a new file if
it does not have a .txt extension.)
292
APPENDIX A:
IMPORTING AND EXPORTING DATA
company files
This appendix is only applicable to users who want to network company files on a peer-to-peer network. If you intend using AccountRight
Enterprise on a network running Windows Terminal Server, we recommend that you seek expert advice.
Preparing company files for multiple users
If multiple users will be simultaneously accessing a company file,
it should be stored on a host computer where it can be accessed
across the network from other Windows workstations. The host
computer and workstations must be running Windows XP or
Vista. Note that the workstations do not all need to be running
the same version of Windows.
Network access privileges required In a Windows
network, access can be set at the domain or user level. If you are
unable to carry out the procedures in this section because you do
not have sufficient access privileges, contact the person who set up
your network for assistance.
NOTE :
All users who will need to access the company file automatically
belong to the special Everyone user group. This group is used as
the default group in these procedures as it simplifies the sharing
of a host folder. The members of the Everyone user group will be
given permission to open, read from and write to the shared
company file.
Setting up networks needs expert skills Because setting
up routers or hubs, cabling computers, and configuring network
hardware and software requires expert knowledge, you may need to
employ an expert with the necessary skills. To locate a
networking-qualified MYOB Certified Consultant near you, go to the
Help menu, choose Find More Help and then choose Find a
Certified Consultant.
NOTE :
NOTE : The Everyone user group may be a security risk The
Everyone user group allows anyone on the network to access the
shared company file. If some employees are not authorised to access
your accounting data, read Windows help or consult a networking
expert to set up more secure access.
This section starts from the point where the network is already set
up and running. A local area network (LAN) can be set up in
many different ways. The procedures in this section describe only
the very common situation of a LAN protected from the external
internet by a firewall on a router or gateway computer.
293
APPENDIX B : NETWORKING COMPANY FILES
Appendix B: Networking
Setting up the network hardware
Unless you are an expert, employ a networking consultant to set
up your network hardware. Show the consultant these
requirements for the host computer, and the hardware and
software requirements for the workstations specified in the
Getting Started guide.
Networking
Local area network (LAN), peer-to-peer
Windows host
Windows XP (Service pack 3) Vista (Service Pack 1) or
Windows 7
Equipment
Pentium processor or equivalent, with 1GB RAM, or
better
Older computers may need a network interface card
(NIC)
Protocols
Ethernet (10BASE-T twisted pair cable, shielded or
unshielded) or
Fast Ethernet (100BASE-TX twisted pair cable,
shielded), with
Windows networking (NetBIOS, NetBEUI, or TCP/IP)
Setting up a company file folder on a Windows host
When several users are to work with a company file
simultaneously, it must be stored on a host computer to which
each user has access. Consider these tips for choosing a suitable
host:
294
„
Host the company file on the most powerful computer in
the network Users on workstations will enjoy better
performance if the company file is stored on the most
powerful computer in your network—the fastest with the
most memory.
„
Host the company file on the key employee’s
computer If one employee will use the company file more
than anyone else, consider storing the company file on that
employee’s computer. This person will experience better
performance from accessing the company file directly,
compared with accessing it across the network.
„
Host the company file on a backed-up computer If you
store all your important files on a central host that is backed
up frequently, it is a good idea to also store your company file
on that host. Then the company file will be backed up along
with all your other vital data.
Complete the appropriate task to set up a Windows host
computer and share a company file folder.
APPENDIX B:
NETWORKING COMPANY FILES
To share a folder on Windows 7
This procedure applies to Windows 7 users. If this procedure does
not apply to your network configuration, consult a networking
expert or read Windows 7 help to set up appropriate sharing
access and permissions.
1
Log in as an administrator if only administrators can set
permissions on your computer.
2
In Windows Explorer, create a folder named Company_Files
in a convenient location, for example, c:\Company_Files.
This folder is where the shared company file will be stored.
1
Log in as an administrator if only administrators can set
permissions on your computer.
3
Right-click the Company_Files folder and choose Share. The
File Sharing window appears.
2
In Windows Explorer, create a folder named Company_Files
in a convenient location, for example, c:\Company_Files.
This folder is where the shared company file will be stored.
4
Click in the Permission Level column next to the Everyone
user group and choose Co-owner. This enables full control
permission.
3
Right-click the Company_Files folder and choose Share
with, then select to share the folder with a homegroup or
with specific people. The File Sharing window appears.
4
If you selected Specific people, enter the names of the users
or select Everyone.
Everyone group If the Everyone group does not appear
in the list, select it from the menu field above the list and click
Add, then assign access permission as per the above step.
NOTE :
5
Click Share. In the confirm window that appears, click Done.
5
Click in the Permission Level column next to the user group
to set the read and write permission for the user.
6
In Windows Explorer, move the company file to the
Company_Files folder you just created on the host.
6
Select Read/Write to enable full control permission.
7
Continue with ‘Accessing the shared company file’ on
page 297.
NOTE : Everyone group If the Everyone group does not appear
in the list, select it from the menu field above the list and click
Add, then assign access permission as per the above step.
7
Click Share. In the confirm window that appears, click Done.
8
In Windows Explorer, move the company file to the shared
Company_Files folder you just created on the host.
9
Continue with ‘Accessing the shared company file’ on
page 297.
To share a folder on Windows XP
This procedure applies to Windows XP. Consult a networking
expert or read the Windows help to set up appropriate sharing
and access permissions.
1
Log in as an administrator if only administrators can set
permissions on your computer.
2
In Windows Explorer, create a folder named Company_Files
in a convenient location, for example, c:\Company_Files.
This folder is where the shared company file will be stored.
3
Right-click on the Company_Files folder and choose
Properties. The Company Files Properties window appears.
To share a folder on Windows Vista
This procedure applies to Windows Vista users. If this procedure
does not apply to your network configuration, consult a
networking expert or read Windows Vista help to set up
appropriate sharing access and permissions.
SETTING UP A COMPANY FILE FOLDER ON A WINDOWS HOST
295
4
Click the Sharing tab and set the fields and options as shown
below.
Share this folder
(Share this folder
in the network)
296
Maximum
allowed
Click this button to allow as many users as
possible to simultaneously access the
company file. This option is not present if
your network does not have workgroups or
you are logged in to a domain.
Allow network
users to change
my files
Click this button. This option is not present if
your network does not have workgroups or
you are logged in to a domain.
5
If your network does not have workgroups or you are logged
in to a domain, continue with step 7 on page 297.
6
Click Permissions. The Permissions for Company_Files
window appears. Click the Everyone user group, select the
Allow and Deny options in the Permissions list as shown
below and click OK.
Select the Share this folder option. If your
network does not have workgroups or you
are logged in to a domain, select the Share
this folder or Share this folder in the
network option, then complete the wizard
that appears.
Share name
Type the name that will be seen by users
accessing the folder from their workstations,
for example, Company_Files.
Comment
Type a description that users will be able to
read in the folder’s Properties window. This
option is not present if your network does not
have workgroups or if you are logged in to a
domain.
Permissions for Everyone
Allow
Deny
Full control
Select
Deselect
Change
Select
Deselect
Read
Select
Deselect
APPENDIX B:
NETWORKING COMPANY FILES
7
In the Company_Files Properties window, click OK.
8
In Windows Explorer, move the company file from its present
location to the Company_Files folder on the host.
9
Continue with ‘Accessing the shared company file’ below.
3
Right-click the Company_Files folder and click Map
Network Drive. The Map Network Drive window appears.
4
Accept the proposed drive letter or choose another, select the
Reconnect at logon option, and click Finish. If access to the
folder is password protected, a logon window may appear. If
so, type the password and click OK.
Accessing the shared company file
Workstations are Windows computers that access a company file
stored on another computer, referred to as a host computer.
Accessing the remote company file folder on the host requires
you to complete these procedures for each Windows workstation
on the local area network (LAN). This process is also known as
mapping network drives.
When you are able to access the company file folder containing
the shared company file, you can create a desktop shortcut to the
file. Clicking the shortcut starts your software and opens the
shared company file.
To access a shared folder on Windows 7 or Vista
1
Display the available networks:
„ Windows 7: Select Computer from the Windows start
menu. In the window that appears, select Networks.
„ Windows Vista: Select Network from the Windows start
menu.
In Windows Explorer, the Company_Files folder now appears
as a network drive under Computer. For example, you might
see the shared folder listed as Company_Files on 'Hongs-pc'
(V:).
5
Open the shared Company_Files folder. You should be able
to see the shared company file in it.
To access a shared company file folder on other
Windows versions
Access may be password protected If a password is
required to access the shared company file folder, a window will
request you to enter a user name and password when you attempt
to access it.
NOTE :
The available networks appear in the window.
2
Display the host computer’s files in the window and locate
the Company_Files folder.
NOTE : Access may be password protected If a password is
required to access the shared company file folder, a window will
request you to enter a user name and password when you
attempt to access it.
ACCESSING THE SHARED COMPANY FILE
1
In Windows Explorer, open Network Neighborhood (or My
Network Places).
2
Locate the host computer on which the shared company file
folder was created.
297
If a Connect to hostName window appears, complete the
User Name and Password fields, click the Remember my
password option and click OK. You should now be able to
see the Company_Files folder.
1
Right-click an empty area of the desktop and choose New
and then Shortcut. The Create Shortcut wizard appears.
2
NOTE : Navigating network folders may not be necessary In
some versions of Windows, depending how the network access
is set up, all networked computers may be visible in Network
Neighborhood (My Network Places) without you needing to
navigate network folders.
Type the path to your software program file (Myobp.exe) in
the Command line field (or in the Type the location of the
item field) and click Next. Alternatively, you can click Browse
and navigate to and select the program file, then click Next.
3
On the next page, either accept the proposed name for the
shortcut or type your preferred name in the Select a name
for the shortcut field (or the Type a name for this shortcut
field), and click Finish.
3
Right-click the Company_Files folder and choose Map
Network Drive.
4
Right-click the new shortcut and choose Properties. The
shortcut name Properties window appears.
4
In the Map Network Drive window (or wizard), accept the
proposed drive letter or choose another, select the
Reconnect at logon option, and click OK (Finish). If access
to the folder is password protected, a logon window may
appear. If so, type the password and click OK.
5
Click the Shortcut tab. The Target field shows the location of
your program you entered in step 2 above, for example,
C:\Premier19\Myobp.exe.
6
[Windows XP users only] Enclose the location of the program
file in double quotation marks ("), for example,
"C:\Premier19\Myobp.exe" .
7
In the Target field, type a space after the program location,
then type the location of the company file, including the
.myo file extension.
In Windows Explorer, the Company_Files folder now appears
as a network drive under My Computer. For example, you
might see the shared folder listed as Company_Files on
'Hongs-pc' (V:).
5
Open the shared Company_Files folder. You should be able
to see the shared company file in it.
To open your company file from a shortcut
[Windows XP users only] The path to this location should also
be enclosed in its own quotation marks, for example,
"C:\Premier19\Myobp.exe" "V:\Clearwtr.myo" .
A fast way to start your software and open a company file is to
put a shortcut to the program and company file on the Windows
desktop. Then you only have to double-click the shortcut to be
up and running.
Don’t create a shortcut only to the company file If you
are knowledgeable about shortcuts, you might be tempted to create
just a shortcut to the company file. Unfortunately, there are not
enough letter combinations to ensure that the .myo file extension is
unique to your software. So, double-clicking a shortcut just to a
company file might start another program that works with a
different kind of .myo file.
NOTE :
298
APPENDIX B:
NETWORKING COMPANY FILES
8
Copy the location of the company file from the Target field,
minus the name of the company file, and paste it into the
Start in field, for example, “V:\”, as shown below.
9
Click OK to close the shortcut name Properties window.
10
Double-click the shortcut on the desktop to test it. Your
software should start on this workstation and immediately
open the specified company file, whether it is stored on a
remote host or this workstation.
11
Repeat from step 1 on page 298 on each workstation that
needs access to the company file.
Note that there should be no quotation marks in Windows 7
or Vista.
ACCESSING THE SHARED COMPANY FILE
299
300
APPENDIX B:
NETWORKING COMPANY FILES
GLOSSARY
Glossary
accounts list Commonly referred to as a chart of accounts, this
is a list of all your asset, liability, equity, income, cost of sales,
expense, other income and other expense accounts.
A
account Something to which transactions are assigned.
Accounts in AccountRight software are in one of eight categories:
„
Asset
„
Liability
„
Equity
„
Income
„
Cost of sales
„
Expense
„
Other income
„
Other expense
accounts payable What you owe someone else for goods or
services delivered. The sum of all accounts payable is recorded as
a liability account. Any time you record a purchase in the
Purchases command centre, the unpaid balance of the purchase
is added to your accounts payable. Every time you pay a bill
(using Pay Bills in the Purchases command centre), the amount
is subtracted from your accounts payable balance.
accounts receivable What your customers owe you. The sum
of all accounts receivable is recorded as an asset account. Any
time you record a sale in the Sales command centre, the unpaid
balance of the sale is added to your accounts receivable balance.
Every time you enter a customer payment (using the Sales
command centre), the amount is subtracted from your accounts
receivable balance.
Accounts are classified as header or detail. Transactions are
assigned directly to detail accounts. Header accounts are used to
summarise and group multiple detail accounts. Each account
must have a unique number.
accrual method (basis) This is a method of accounting which
records sales and purchases at the time they’re delivered, not at
the time they’re paid for. This is the opposite of the cash method
of accounting.
account classification One of the eight accounts groups in the
Accounts List: Assets, Liabilities, Equity, Income, Cost of Sales,
Expense, Other Income, Other Expense.
accrued expenses These are expenses for goods or services
received but not yet paid.
account number The account number identifies an account.
Each account must have a unique number.
ageing: payables The number of days between receiving a bill
from a supplier and an ageing date (usually today).
accounting period A part of your financial year. AccountRight
software treats each calendar month as a separate accounting
period. Additionally, AccountRight software provides an optional
13th period for year-end adjustments.
ageing: receivables The number of days between invoicing a
customer and an ageing date (usually today).
301
allocation accounts In AccountRight software when writing a
cheque or recording a payment, the allocation accounts are the
expense, income, etc., accounts that balance the transaction.
C
audit trail A list of the transactions that make up the balance of
an account or accounts.
cash drawer Where the money is kept between leaving the
customers’ hands and being deposited in the bank. Many
businesses set up their cash drawer as a bank account.
assets Assets are things you own. Your bank account is an asset.
So is your computer. If someone owes you money, the total owed
to you is an asset. Current assets are assets that can be turned
into cash within a relatively short period of time (less than a year).
Things that take longer to turn into cash, like your factory
building, are called fixed assets. Assets normally have a debit
balance.
B
bad debt Money owed to you that is unlikely to be paid. Many
businesses create a contra-asset account to approximate the
value of their bad debt. That way, they have a clearer picture of
the actual value of their assets.
balance The sum of all the money added to and subtracted
from an account.
balance sheet The balance sheet is a financial snapshot of a
company’s position at a particular time. A balance sheet lists the
company’s asset, liability and equity accounts. It is called a
balance sheet because the total value of the asset accounts minus
the total value of the liability always equals the total of the equity
accounts.
bill
The record of a supplier’s invoice.
budgets Expected monthly net activity for an account. Budgets
are useful for planning for the future and for analysing actual
performance against planned performance.
302
cash method (basis) The opposite of the accrual method of
accounting. The cash method records the sale and purchase of
goods and services at the time they’re paid for, not when they’re
delivered.
cleared A withdrawal or deposit is cleared when your bank
adjusts your account balance for it.
closed period An accounting period in which all entries are
completed. AccountRight software does not require that you
actively close a period. However, in Preferences you can prevent
accidental posting to a closed (locked) period.
closed purchases
closed sales
Purchases that have been paid in full.
Sales that have been paid in full.
company information Found in AccountRight software’s
Setup menu, your company information contains your
company’s name, address, tax information and information
about your company’s financial year.
contra account This is an account that normally carries the
opposite balance of the accounts of the same type. Assets, for
example, normally have a debit balance; a common contra-asset
account is the accrued depreciation of an asset. By using a contra
account, you can show a company a car that’s worth $12,000, by
listing the asset at its $15,000 purchase price followed by the
-$3,000 balance of the accrued depreciation account.
conversion month The conversion month is the earliest month
in the financial year for which transactions are to be recorded. For
example, suppose you purchase your software in October but
want to record transactions dated from 1 September. In this case,
GLOSSARY
your conversion month is September. The conversion month
determines the opening balances you will enter when you set up
your company file.
cost item The cost of an inventory item. Your software uses
average cost. That is, the total cost of all your purchases for a
particular item currently on hand divided by the number of items
on hand.
cost of sales Sometimes called cost of goods sold, this account
type works just like an expense account. The only difference is
where it appears on the profit & loss statement. Cost of Sales
accounts appear after your income accounts but before your
expense accounts. Cost of Sales is subtracted from your income
to produce gross profit. Your expenses are subtracted from your
gross profit to produce net profit. You are not required to use
Cost of Sales accounts.
credit amount Appears on the right side of the ledger (a debit
amount occupies the left side). A credit amount increases the
balance of accounts with a credit balance and decreases the
balance of accounts with a debit balance. Accounts that normally
carry a credit balance are liability, equity and income accounts.
credit invoice A credit invoice is a sale with a negative balance
due. Usually caused by a return or adjustment, a credit invoice is
settled by writing a refund cheque or applying the amount to
another open invoice.
credit terms Terms are the agreed upon rules governing the
number of days between delivery and payment discounts for
early payment and penalties. You can set default terms for all
customers.
creditors A creditor is someone to whom you owe money. See
also accounts payable.
current assets Assets that can be turned into cash within a
relatively short time (less than a year) are called current assets.
Some of your current assets are your bank accounts, accounts
GLOSSARY
receivable and petty cash. Current assets usually do not lose their
value over time. Current assets normally have a debit balance.
current liabilities Liabilities that become payable within the
next year are called current liabilities. When recording a liability
that is to be paid over a long period, many accountants split it
into two liabilities. The part that is to be paid off within the next
year is entered as a current liability; the remaining is entered as a
long-term liability.
current year earnings Current year earnings is an equity
account. Its balance equals your income minus cost of sales and
expenses. Current year earnings are zero at the beginning of a
financial year. Current year earnings are kept as a running total as
the financial year progresses. When you start a new financial year,
current year earnings are reset to zero when its balance is moved
into the account called Retained Earnings.
customer Someone to whom you sell goods or services. In
AccountRight software, you must enter a customer card before
you record a sale.
D
debit Appears on the left side of the ledger (the credit amount
occupies the right side); a debit amount increases the balance of
accounts with a debit balance and decreases the balance of
accounts with a credit balance. Accounts that normally carry a
debit balance are assets and expense accounts.
debit purchase A debit purchase is a purchase with a negative
balance due. Usually caused by a return or adjustment, a debit
purchase is settled by recording a supplier’s refund cheque or
applying the amount to another open bill.
debtors A debtor is someone who owes you money. See also
accounts receivable.
303
deposits from customers Advances received for goods or
services not yet delivered. Customer deposits are kept in a liability
account.
deposits to suppliers Advances paid to suppliers for goods or
services not yet delivered.
depreciation The expense allocation of the cost of an asset
over a period of time. Most accountants create a contra-asset
account to track the depreciation of an asset. See also contra
account. A typical depreciation transaction credits the contra
asset account and debits a depreciation expense account.
Depreciation is most often recorded as a general journal entry.
detail accounts
assigned.
An account to which transactions can be
discount early payment The amount taken off the balance
due in return for payment within an agreed number of days.
discount volume purchase The amount taken off an item’s
cost because of a special supplier or customer arrangement.
discount days Discount days are the number of days from a
sale or purchase within which full payment of the balance due
entitles the payee to a discount.
double-entry accounting A method of bookkeeping in which
every entry is balanced by another entry. Correct double-entry
accounting always provides a balanced set of books; that is, the
total value of your asset accounts minus the total of your liability
accounts will equal the total of your equity accounts.
E
earnings Income minus cost of sales and expenses. See also
current year earnings.
equity This is a company’s net worth. The equity of a company
equals its assets minus its liabilities. Equity is an account type in
AccountRight software. Equity accounts usually carry a credit
balance. Some common equity accounts are current year
earnings, retained earnings and shareholder’s equity.
expense A cost associated with running a business. Expense is
an account type in AccountRight software. Expense accounts
usually carry a debit balance.
F
file locking A special function that makes it possible for more
than one user to enter information in the same company file at
the same time. (See multiuser file locking and single-user file
locking.)
finance charge The amount added to an outstanding balance
as a penalty for late payment.
financial statements The balance sheet and income (profit &
loss) statement. The balance sheet is your company’s financial
picture at a particular time. The income statement shows your
company’s financial performance over a period of time.
financial year The 12-month period you use to define your
accounting year. Your software does not require that it match the
calendar year. Your software also provides an optional 13th
period for making year-end adjustments that you do not want to
affect a particular month.
fixed assets Fixed assets are assets that have a relatively long
life. Your buildings, cars and computers are fixed assets. Fixed
assets are usually depreciated; that is, they lose some of their
value as you use them.
entitlements Hours that accumulate on paycheques; used to
pay special wages, such as holiday or sick pay.
304
GLOSSARY
G
general journal A journal used to record miscellaneous
transactions not entered in other journals, for example, year-end
adjustments and depreciation expense.
general ledger This is where all your account
information—sales, purchases, inventory, cash in, cash
out—come together. You draw your financial statements
(balance sheet and income statement) from the general ledger.
gross profit
Gross profit is your income minus cost of sales.
subtracts cost of sales to produce a gross profit. Expenses are
subtracted from gross profit to produce operating profit. ‘Other
income’ accounts are added to operating profit and ‘other
expense’ accounts are subtracted from operating profit to
produce net profit.
inventory Physical items kept for possible sale to a customer.
Most accountants record an inventory’s value in a current asset
account.
invoice The written record of a sale.
item A unit in your items list. An item can be physical inventory,
like a widget or a pair of shoes, or it can be non-physical, like an
hour of your time.
H
header account A header account in AccountRight software is
used to group similar detail accounts. You cannot post a
transaction to a header account.
historical balance The balance of an account prior to
converting your records to your software. You are not required to
enter historical balances in your software. Enter them only if you
wish to compare a current month’s activity to the activity for the
same month last year.
I
identifiers A one-letter code used to sort and select cards in the
card file. You can assign up to 26 identifiers to a card.
income Revenue from the sale of goods or services. Income is
an account type in AccountRight software. Income accounts
usually carry a credit balance.
income statement Also called a profit & loss statement, the
income statement shows your company’s performance over a
period of time. An income statement begins with income. It then
GLOSSARY
J
job A job is work for which you wish to track income and
expenses. In AccountRight software, a job can be a profit centre,
a product line, a project or any other subset of your business that
requires a separate income statement.
journal A journal is a tool for organising your accounting
entries. All entries are grouped into one of six journals: general,
disbursements, receipts, sales, purchases or inventory.
L
liability Liabilities are things you owe. Your working capital
loan is a liability. Your accounts payable, what you owe someone
for a purchase, is also a liability. Liabilities that are due within the
next year are called current liabilities. When a liability is not due
for more than a year, it is called a long-term liability. Liabilities
normally have a credit balance.
line item The information entered in one row of the scrolling
list for a transaction (sale, purchase, nominal journal entry).
305
linked account Linked accounts are what AccountRight
software uses to post your inventory, sales and purchase
transactions to the proper account. When, for example, you link
your receivables account, you are telling AccountRight software
which account to post the balance due from a sale.
long-term liability Something you owe that does not have to
be paid for at least a year.
Number of Days after EOM A setting to indicate that the
payment due date and early payment discount date are based on
a set number of days after the end of the month.
O
open bill
A purchase with an outstanding balance due.
open sale A sale with an outstanding balance due.
M
miscellaneous purchases Miscellaneous purchases are used in
AccountRight software to record non-item purchases that do not
require a printed purchase order.
miscellaneous sales Used in AccountRight software to record
non-item sales that do not require a printed invoice.
multiuser file locking Used when more than one person is
entering information into the same company file simultaneously
to prevent different pieces of data from “colliding” into each
other, which could seriously damage the company file.
multiuser file locking [AccountRight Enterprise only] Used
when more than one person is entering information into the
same company file at the same time to prevent problems that
might arise if users simultaneously enter conflicting data. Such a
situation, if not prevented, could seriously damage the company
file.
N
306
opening balance The balance of an account as at the start of
the first day of your conversion month.
operating profit This is your profit before considering Other
Income and Other Expense.
other expenses An account type used to record expenses that
are not directly related to your company’s operations, such as
loan interest, fines, etc. ‘Other expense’ accounts usually have a
debit balance.
other income An account type used to record income that is
not directly related to your company’s operations, such as
interest income. ‘Other income’ accounts usually have a credit
balance.
out of balance When the total credit amount does not equal
the total debit amount in a transaction, it is out of balance.
AccountRight software does not allow you to record an
out-of-balance transaction.
P
net income Net income (net profit or loss) is the total of all
income accounts minus the sum of your expense and cost of sales
accounts.
payables What you owe someone else for items or services
delivered. See also accounts payable.
net profit The total of all income accounts minus the sum of
your expense and cost of sales accounts. Also called net income.
pricing levels Different prices at which an item is sold to
different kinds of customers. Up to six pricing levels can be set.
GLOSSARY
profit & loss statement
See income statement.
profit centre A subset of your business for which you want to
track income and expenses. In AccountRight software profit
centres are called ‘jobs’.
promised date The date a pending sale or pending purchase is
due to be delivered. If a pending sale is not delivered as of its
promised date, a reminder is posted to your To Do List.
purging The act of erasing old data. Your software allows you
to purge journal entries, closed sales, closed purchases and
contact logs.
revenue Income from the sale of goods or services. Revenue is
recorded in an income account in AccountRight software.
Income accounts usually carry a credit balance.
S
settle a credit invoice When someone returns something, and
you record an invoice that has a negative balance due, it is called
a credit invoice. Paying off this negative amount is called settling
a credit invoice.
R
settle a debit purchase When you return something to a
supplier, and you record a purchase with a negative balance due,
it is called a debit purchase. Paying off this negative amount is
called settling a debit purchase.
recap transaction A function that lets you look at a journal
entry before it is recorded. Recap transaction is particularly useful
for those transactions, like invoices and bills, for which the journal
entry is not immediately obvious.
single-user file locking A feature that ensures that only one
user is using a company file during certain file maintenance tasks
(such as backing up and checking a company file for errors) that
require the ’full involvement’ of the company file.
receivables What someone else owes you for items or services
delivered. See accounts receivable.
standard pay The current values of an employee's payroll
details (wages, superannuation, entitlements, deductions,
employer expenses and taxes) that are automatically used when
processing the employee's pay.
reconciling The process of checking that your records agree
with your bank’s records.
recurring transaction An accounting entry that is made
periodically, such as weekly payroll, monthly rent, etc.
restoring
supplier Someone from whom you buy goods or services. In
AccountRight software you must enter a supplier card before you
can record a purchase. See also accounts payable.
The process of reopening a backup company file.
retained earnings Money from previous years earnings that
has been left in the company. At the end of a financial year any
money earned (or lost) during the financial year is transferred to
retained earnings. Retained earnings are recorded in an equity
account.
GLOSSARY
307
T
V
terms Terms are the agreed upon rules governing the number
of days between delivery and payment, discounts for early
payment and penalties for late payment.
verifying The process of checking a company file for errors to
detect minor inconsistencies in the file before they cause serious
problems.
transaction An entry in AccountRight software that affects the
balance of accounts.
W
trial balance This is a report showing all the activity for an
account or accounts within a selected date range. It shows the
balance of the account at the beginning of the date range, the
activity within the date range, and the balance at the end of the
date range. A trial balance is useful for checking your entries prior
to doing your period-end processing.
U
undeposited funds account The linked account into which
individual cash-receipts transactions are recorded when not
credited directly to cheque or credit card accounts. Amounts
from individual transactions in the undeposited funds account
are grouped together. When deposited, they are recorded as a
single bank deposit transaction on the bank or credit card
statement.
wildcard A character used to further define search criteria in
reports. Your software uses the asterisk (*) and the question mark
(?) as wildcards.
Z
zoom arrow An icon that allows a user to review, or “zoom to“
more detailed information about a specific topic, such as a
transaction.
user IDs A unique identification code assigned to each user of
the company file. Each user must enter an ID. User IDs are the
basis for the software’s security system, and can be used to keep
track of the actions of each person who performs tasks that affect
the company file.
308
GLOSSARY
A
account levels, to track financial
information 241
Account Opening Balances
window 30
account types 27
accountant
receiving accounts list from 265
292
receiving adjustments from 264
sending data to 263
AccountantLink
receiving accounts list from
accountant 265 292
sending data to Accountants
Office 263
INDEX
Index
detail 27
entering opening balances 29
exporting 289
finding 185
foreign currency, tracking 172
grouping, detail 29
header 27
importing 290
indenting 29
list of 23
new 28
numbering 26
opening balances
bank accounts 30
reconciling 58
for the first time 41
transfer money between 56
transferring funds to foreign
account 178
types of 27
Accounting 101 guide 9
Accounts List window 28
accounting periods
number of 22
accounts payable
analysing 100
paying 102
reconciling accounts at
month-end 255
year-end 255
reports 100
reviewing 100
AccountRight updates 31 284
accounts
adding 28
adjusting to reflect work in
progress 154
assigning tax codes to 184
budgets for 245
changing 186
classifications 26
for statement of cash flows 28
combining 188
creating 28
deleting 187
Actions menu 14
activation of company files 24
circumstances requiring 24
confirming activation
automatically 281
by telephone 281
over the Internet 280
troubleshooting 281
activities
billing rates, setting 145
changing 147
creating time billing 146
definition 146
deleting 147
exporting 289 290
inactivating 147
Activities List window 146
Activity Information window 146
activity slips
adjusting book value of work in
progress 154
changing 151
creating
multiple 150
single 148
to pay an employee 149
deleting 151
exporting 289 290
finding 151
including in employee’s pay 125
multiple 150
reviewing 151
single 148
timer, create using 149
accounts receivable
analysing 76
payments 54 77
reconciling 255
accrual accounts
setting up for items received
without a supplier bill 96
adjustments
309
entering in 13th period 22 264
importing from accountants 264
making year-end 264
administrator account
passwords 32
purpose of 275
See also user accounts
ageing, setting up periods 101
analyse payables 100
Analyse Payables window 101
Analyse Receivables window 76
Analyse Sales window 76
Analysis menu (command
centres) 14
arrows 15
assets accounts 27
ATM, withdrawals 62
audit trail 251
auditing company file
information 254
Auto-Build Information
window 162
Auto-Build Inventory window 163
auto-building items 162
Automatically Adjust Base Hourly
or Base Salary Details 111
average cost of an item 157
billing for time. See time billing
B
backing up, company file 277
backorder
items purchased on 92
items sold on 68
backup file, restoring 277
bad debts, accounting for 87
bank accounts
adding 28
deposits 49
for electronic payments 39
opening balances 30
reconciling 58
for the first time 41
out of balance amounts,
correcting 59
Bank Register window
finding a transaction using 193
Get Statement button 61
recording transactions in 54
Split button 55
bank service charges,
recording 58
bank statement
adding transactions from 61
Get Statement button 58
importing 61
formats supported 61
reconciling 58
for the first time 41
out of balance amounts,
correcting 59
BAS Information window 261
BASlink
lodging activity statements
using 261
setting up 261
billing rates, setting for
activities 145
customers 145
employees 145
suppliers 145
bills
editing paid 195
paying 54 102
several at once 104
See also accounts payable
blank lines, inserting between line
items 70 95
bona fide redundancy
payment 137
Budget Shortcuts window 246
budgets 245
allocating for accounts 29
allocating for jobs 244
choosing accounts for 245
half-yearly 247
monthly 247
quarterly 247
reports for 246
yearly 247
Business Activity Statement,
lodging using BASlink 261
business contacts, maintaining list
of 227
Business Insights 75 100 248
C
calculator 15
currency 175
calendar 14
Card ID field 237
cards
adding 223
customer 65
employee 116
personal 223
supplier 89
assigning tax codes to 184
changing 186
combining 188
creating for
customers 65
employees 116
personal contacts 223
suppliers 36
custom lists and fields 230
deleting 187
employee payroll
information 117
exporting 289
finding 185
identification code 237
importing 290
inactivating 186
organising in groups 229
reactivating 186
synchronising cards and Outlook
contacts 231
view a contact on a map 229
cash wages, recording a cheque
transaction 130
cashflow analysis
using Business Insights 248
categories
changing 186
creating 241 242
deleting 187
enabling assignment to 242
finding 185
setting up 241 242
tracking financial information,
using 241
See also payroll categories
cheques
custom 217
entering 51 54
previewing 52
printing 213
recurring 52
voiding 62
See also payroll
columns, moving and resizing in
reports 203
combining
accounts 188
cards 188
command centres 11
Company Data Auditor 251
254 –257
company file
creating 22
Company File Confirmation
window 280
company files
activating 24
circumstances requiring 24
auditing 254
backing up 277
checking for errors 254 282
confirming
automatically 281
by telephone 281
over the Internet 280
troubleshooting 281
desktop shortcut to 298
locking 286
optimising 282
purging unwanted data 283
restoring from backups 277
serial number, entering 25 26
sharing on a network 286 293
special considerations for
shared 286
Card Information window 89
310
INDEX
unable to open 283
verifying 254 282
See also shared public folder
components, using to auto-build
items 161
confirmation codes
entered during telephone
confirmation 281
generated during Internet
confirmation 280
confirmation of company files
automatic confirmation 281
by telephone 281
over the Internet 280
troubleshooting 281
contact log 227
automatic entries 228
contact management 223
See also cards
contra accounts 86
credit control
credit holds 82
credit limits 80
credit terms 35 68
finance charges 82 83
Credit Limit & Hold window 81
Credit Limit Override Password
window 81
credit limits
password, changing 81
prevent recording sales when
customer exceeds 81
setting 81
warn when customer exceeds 81
credit terms
changing when recording
purchases 92
sales 68
default for sales 35
setting for customers 66
setting for suppliers 90
contra payments 86
creditors. See accounts payable
conversion month 22
Currencies List window 172
Copy From button 156
currency
accounts 172
adding 172
calculator 175
See also multiple currencies
tracking gains and losses 176
cost of an item
average 157
last 157
standard 157
cost of sales accounts
selecting for tracking 156
setting up 27
credit card
customer paying by 47
paying 63
purchases 62
credit card statement
adding transactions from 61
matching transactions with 61
reconciling 58
INDEX
currency calculator 175
Currency Information
window 172
current financial year 22
custom fields
recording card details using 237
recording item details using 170
custom forms
adding graphics and logos 221
custom cheques 217
data fields 219
drawing lines on 221
drawing rectangles on 221
elements of 222
page properties, setting 217
previewing 218
printing 218
removing elements 222
resizing elements 222
saving 218
size of 217
tool palette 219
custom lists
creating 230
filtering inventory reports
with 170
grouping items with 169
printing on purchases and
invoices 170
credit limits 80
credit terms 35 68
credits
deleting 194
issuing 83
recording 84
refunding by cheque 86
settling 85
discounts
for early payment 79
volume 68
invoices
entering 67
payments for 54 77
payments from 54 77
quoting 67
who are also suppliers 86
customising forms. See custom
forms
custom price levels 168
assigning to a customer 169
customer credits
deleting 194
issuing 83
recording 84
refunding by cheque 86
settling 85
customer payments 77
discount for early payment 79
editing 195
group with undeposited funds 78
See also receiving money
customer statements
emailing 259
printing 259
sending at month-end 259
customers
assigning a price level to 169
billing rates for 145
cards, creating 65 181
credit holds 82
D
data
exporting
to accountants 263
to other applications 289
importing
from accountants 265
from other applications 290
from RetailBasics 291
from RetailManager 291
limiting access to. See user
accounts
purging 283
data fields
adding to forms 219
changing font characteristics 220
changing size of 222
dates, entry with calendar 14
311
debtors. See accounts receivable
Deduction Information
window 114
deductions
definition 110
paying 132
payroll categories
changing 114
creating 110
deleting 187
deleting
records 187
transactions 194
deposits
recording 54
recurring 48 55
depreciation
accounts for 260
recording 260
detail
accounts 27
jobs 243
discounts
early payment discounts
giving 79
receiving 103
volume discounts
giving 68
receiving 93
E
early payment discount 79
Edit Accounts window 28
Edit Recurring Schedule
window 197
312
electronic clearing account, setting
up 39
electronic payments
ABA files 53
employee payments 129
changing bank details for
current pay 128
setting up 38
supplier payments 53
emailing
forms in a batch 213
invoices 70
pay slips 130
purchases 94
remittance advices 103
in a batch 213
reports 204
statements 259
employees
activity slips, including in pay 125
bank information 40 120
billing rates, setting 145
bona fide redundancy
payments 137
bonuses 124
cash payments 129
cheque payments 129
commissions 124
creating cards for 116
electronic payments 129
changing bank details for
current pay 128
emailing
pay slips 117
employment classification 117
employment termination
payments 137
holiday pay, distributing 126
hours worked, entering 126
pay details, editing 125
pay history
entering 37 120
viewing 140
paying 123–131
payment method 120
payment summaries 267
payments, changing, deleting or
reversing 128
payroll information
analysing 142
entering 117
viewing 140
payroll liabilities
paying 132
reviewing 142
printing paycheques 129
sick pay, distributing 126
standard pay, entering 119
terminating 136
time billing information
including in employee
pays 125
timesheets 121
viewing sales history for 77
employment termination
payments 137
preparing payment
summaries 267
end-of-month. See month-end tasks
entitlements
balances
changing 141
viewing 141
definition 110
linking wages categories 114
payroll categories
changing 113
creating 110
deleting 187
Entitlements Information
window 113
equity accounts 27
error, checking for in company
file 254 282
Excel, viewing AccountRight
reports in 205
Employer Expense Information
window 115
exchange accounts for tracking
foreign transactions 172
employer expenses
definition 110
paying 132
payroll categories
changing 115
creating 110
deleting 187
exchange rates 175
employment category,
entering 117
employment classification
adding to list of 117
entering 117
expense accounts 27
Export Data window 289
Export Summary Window 233
exporting data
to accountants 263
to other applications 289
to Outlook 232
See also synchronising cards and
Outlook contacts
employment status, entering 117
INDEX
F
faxing
invoices 70
purchases 94
reports 204
sales 70
file locking
multi-user mode 286
single-user mode 286
finance charges
calculating 82
charging 82
deleting 83 107
paying 107
setting up 82
financial year
budgets for 245
closing 263
end-of-year tasks 263
starting 266
Find Transactions menu (command
centres) 14
foreign sales. See multiple currencies
help 10
forms
adding fields to 219
batch sending 213
customising 216
emailing 213
faxing 213
finding 212
printing 213
See also custom forms
Help centre 10
freight
charging customer for 69
paying suppliers for 94
G
general journal entries 265
assigning categories to 242
creating recurring transactions
for 197
See also journal entries
Getting Started guide 9 10
Find Transactions window 192
Google Maps 229
finding
records 185
transactions 191
graphics
adding to forms 221
See also pictures
finished item 161
GST codes. See tax codes
fonts
changing on forms 220
changing on reports 209
default 218
foreign currency
adding a new currency 172
changing 186
deleting 187
See also multiple currencies
foreign purchases. See multiple
currencies
INDEX
H
half-yearly budgets 247
header
accounts 27
jobs 243
headers, using to group line items
in transactions 70 95
host computer
setting up 294
system requirements 294
See also workstations
HTML format, saving reports
in 204
I
Identifiers, using to group
cards 229
Import and Export Options
window 232 235
import log file 291
Import Summary window 236
importing data 290
accounts list from MYOB
Accountants Office 292
from accountants 264 265
from other applications 290
from Outlook 235
See also synchronising cards and
Outlook contacts
from RetailBasics 291
from RetailManager 291
importing statements
file formats supported 61
Get Statement button 61
matching transactions 61
inactivating records not used
frequently 186
international transactions. See
multiple currencies
internet banking, importing
statements 61
inventory
adjusting 158
analysing 165
changing prices of 167
counting 164
custom fields 170
custom lists and reports 169 170
custom price levels 168
entering opening balances 45
insufficient quantities on-hand 71
locations 159
minimum levels 157
moving between locations 160
opening cost values, entering 45
opening quantity values,
entering 45
performing stocktakes 164
quantity breaks 169
receiving items without a supplier
bill 95
reconciling at year-end 263
reports 165
reviewing 165
transferring 160 161
viewing history 165
See also items
inventory count sheet, printing 45
164
invoices
blank lines, inserting 70
customising form layout 216
emailing 213
entering 67
faxing 70
headers, inserting 70
line items, entering 68
overdue invoices, list of 76
payments 77
previewing 70
printing
in a batch 213
printing custom lists on
forms 170
313
recurring 70
subtotal, adding 70
time billing invoices 152
receiving without a supplier
bill 95
setting up accrual account
for 95
sales history 77 166
setting up 155
standard cost 156 157
time billing invoices, including
on 144
transferring 160
using custom fields for recording
details of 170
Item Information window 156
items
adding 156
adjusting quantities and
values 158
asset account for tracking value
of 156
assigning tax codes to 184
items purchased 157
items sold 157
auto-building 162
average cost 157
base selling price 157
check spelling when creating 156
creating 156
custom lists to group 169
default location 157
default supplier number 157
deleting 187
expense account for tracking
cost 156
exporting 289
finding 185
finished item, defined 161
I Buy this Item option 155
I Inventory this Item option 155
I Sell this Item option 155
importing 290
last cost 157
locations 159
moving between locations 160
number per selling unit 157
opening quantities and values,
entering 45
price levels, setting custom 168
prices, setting 167
purchase history 101 166
314
Items List Summary report 166
setting up 241 243
sub-jobs 243
using to track income and
expenses 241–243
journal entries
creating recurring transactions
for 197
exporting 289
finding 191
importing 290
from accountants 265
purging 283
recording 265
Items Register, finding
transactions using 193
L
J
jobs
assigning to
payroll categories 127
purchases 93
Receive Money transactions 48
sales 69
Spend Money transactions 52
budget allocation 244
budget amounts, entering 244
changing 186
creating 243
deleting 187
detail jobs 243
exporting 289
finding 185
header jobs 243
importing 290
job-tracking tasks 243
opening balances, entering 244
last cost of an item 157
layout
customising forms 216
purchases 92
sales 68
lines
changing the width on forms 222
drawing on forms 221
linked account
for electronic payments 39
for items received 96
for purchases 96
for sales 82
lists
adding records to 181
deleting records from 187
inactivating records in 186
searching 185
locations, inventory
adding 159
creating 159
default 157
moving items between 160
lock files
troubleshooting 283
logos
adding to forms 221
See also pictures
leave payments 126
letters
mail merge 224
personalised 224
M
liabilities
accounts for tracking 27
paying payroll 132
Mail Merge button 76
licences, obtaining extra
workstation seats 276
Match Transaction window 61
line items on transactions
defined 92
entering for purchases 92
entering for sales 68
inserting blank lines between 70
95
showing subtotal of 70 95
using headers to group 70 95
mailing labels, printing 213 226
Microsoft Outlook contacts.
See synchronising cards and
Outlook contacts
INDEX
Microsoft Windows
2000
access a shared folder on 297
share a folder on 295
Vista
access a shared folder on 297
restricted access to the Program
Files folder 24
share a folder on 295
Windows 7
access a shared folder on 297
share a folder on 295
XP
access a shared folder on 297
share a folder on 295
minimum inventory levels 157
month-end
running the Company Data
Auditor 251 254–257
month-end tasks 253
checking the accuracy of
records 254–257
entering budgets 245
locking periods 263
lodging business activity
statement 261
making superannuation
contributions 258
paying payroll tax 258
recording depreciation 260
reports 257
sending customer statements 259
monthly budgets 247
mouse shortcuts 16
multiple currencies
accounts for tracking foreign
purchases 173
accounts for tracking foreign
sales 173
adding a new foreign
currency 172
currency calculator 175
INDEX
depositing foreign currencies 178
exchange accounts 172
exchange rates 175
I deal in multiple currencies
preference 172
setting up 172
tracking gains and losses 176
tracking realised currency gains
and losses 176
transferring funds to foreign
account 178
shared company files
accessing 297
special considerations 286
storing custom reports on 288
system requirements 294
See also shared public folder
new year
starting a new financial year 266
starting a new payroll year 274
P
multiple locations 159
multi-user mode
company file sharing 293
file locking 286 287
improving performance 288
obtaining additional licences 276
refreshing displayed data 288
See also single-user mode
MYOB Accountants Office
exporting data to 263
importing accounts list from 292
importing journal
adjustments 265
MYOB M-Powered Services 18
O
navigation shortcuts 13
network
company file located in a shared
folder 293
file locking
multi-user mode 286
single-user mode 286
hardware required 294
how preferences work on 286
improving performance 288
Pay Bills window 102
Pay Employee window 125
OfficeLink
creating collection letters 76
creating personalised letters 224
online banking, importing
statements 61
online help 10
opening balances
accounts 29
inventory 45
jobs 244
optimising company files 282
N
overdue invoices
creating collection letters using
OfficeLink 76
viewing list of 76
See also credit terms
See also credit terms, accounts
receivable
orders
converting
several orders to invoices 74
several orders to purchases 99
to a purchase 99
to an invoice 74
purchase orders
receiving items against 95
sales orders 67
Outlook contacts.
See synchronising cards and
Outlook contacts
Pay History section 140
Pay Liabilities window 132
pay slips
creating 216
emailing 131
printing 130 131
payables. See accounts payable
paycheques
printing 129
prior year 141
PAYG Withholding 110
tax tables
checking for latest 274
loading 37 274
variations 119
viewing tax table information
for 110 116
paying employees 123–131
See also payroll
payment method, default
customer 35
employee 120
315
payment summaries
employment termination payment
(ETP) summaries 267
individual non-business 267
labour hire 267
printing at year-end 267
saving 271
verification report 268
Payment Summary Assistant 267
payments
electronic 53
setting up 38
exporting 289
importing 290
making 51 54 102
receiving 47 54 77
recurring 197
payroll
activity slips
including in employee
pays 125
automatically adjusting base pay
details for leave 111
categories 110–115
contribution types 112
employee information,
entering 117
entitlement balances 141
information 140
analysing 142
leave
calculating 113
paying 126
liability payments 132
pay details, previewing 125
pay history 140
pay slips
emailing 131
printing 131
paycheques, printing 129
paycheques, prior year 141
payment summaries 267
316
processing pays 123 –131
reports 267
setting up 37
using the Payroll Easy Setup
Assistant 37
taxes 110
checking for latest 274
loading tax tables 37 274
state and territory 258
timesheets
changing details during pay
run 125
entering employee hours 121
excluding from a pay run 125
See also superannuation
payroll categories
base hourly
adjusting 127
automatically adjusting for leave
payments 111
base salary
adjusting 127
automatically adjusting for leave
payments 111
calculated value 119
changing 111–115
creating 110
deleting 187
editing 116
finding 197
reviewing 37
Payroll Category List window 110
116
Payroll Details tab 117
payroll liabilities
paying 132
reconciling at month-end 256
reconciling at year-end 256
reviewing 142
payroll tax
paying 258
reporting 258
setting up 135
payroll year
end-of-year tasks 267
starting a new year 274
when to close 253 267
pending purchases. See purchases
periods, locking 263
personalised letters
creating 224
printing 213
petty cash
account for allocating expenses
to 57
tracking expenses 57
pictures
adding to
cards 238
forms 221
removing 238
replacing 238
Portable Document Format (PDF)
file
saving reports as 204
Portable Document Format (PDF)
file, creating
purchase 94
reports 204
sales 70
Preferences
Register for updates 31 37
preferences
Allow the Sale of Items with
Insufficient On-Hand
Quantities 73
Apply Customer Payments
Automatically to Oldest
Invoice First 85
how they work on a network 286
I Deal in Multiple Currencies 31
I Prefer to Use Automated Online
Company File
Confirmation 24
I Use Timesheets for ... and My
Week Starts on ... 121
If Credit Limit is Exceeded on
Sale 81
Prevent Data Changes During
Report Generation 287
recommended 31
setting up 31
system-wide preferences 286
time billing 144
Transactions CAN’T be Changed;
They Must be Reversed 31
Use Audit Trail Tracking 31
Use Standard Cost as the Default
Price on Purchase Orders and
Bills 157
Prepare Bank Deposit
window 195
Prepare Budgets window 246
Prepare Electronic Payments
window 53 129
previewing
cheques 52
invoices 70
pay details 125
purchases 94
remittance advices 52 103
price levels
assigning to customer 169
creating custom 168
prices
quantity breaks 169
setting 167
standard cost of an item 157
INDEX
printing
cheques 52 103
forms 213
invoices 70 94
in a batch 213
pay slips 131
paycheques 129
payment summaries 267
purchases 94
in a batch 213
receipts 79
remittance advices 52 103
in a batch 213
statements 259
prior year paycheques 141
Process Payments window 128
Process Payroll window 123
public folder. See shared public
folder
purchase activity, viewing 192
purchase debits, creating 105
purchase history, viewing for
suppliers 101
purchase orders
creating from a sale 98
purchases
additional information about,
entering 93
analysing
using Business Insights 100
applying a supplier debit to an
unpaid purchase 105
assigning job to 93
assigning tax to 93
blank lines, inserting 95
changing credit terms when
recording 92
changing status of 99
creating from a sale 98
INDEX
credit card 62
credit terms, entering 92
customising form layout 216
deleting 195
emailing 94
in a batch 213
exporting 289
faxing 94
from overseas suppliers. See
multiple currencies
headers, adding 95
history, viewing 101
importing 290
layout 92
paying 102
previewing 94
printing 94
custom lists on forms 170
in a batch 213
quotes 91
receiving items without a bill 95
recording 54
recurring 94 197
remittance advice
sending 52
reports 101
reversing 104
saving as a PDF file 94
sending 213
subtotals, adding 95
type of, choosing 92
viewing list of unpaid
purchases 101 165
Purchases Register
finding transactions 192
viewing purchases 101
Purchases window 91
purging data 283
Q
quantity breaks, inventory 169
quarterly budgets 247
Quicken, data import 290
quotes
converting to orders or bills 99
converting to orders or
invoices 74
customer 67
supplier 91
receiving payments. See receiving
money
reconciled transactions,
deleting 195
reconciling
accounts payable 255
accounts receivable 255
bank accounts 58
for the first time 41
linked inventory account 255
out of balance amounts,
correcting 59
undoing 59
record journal entries 265
Record Journal Entry window 265
R
rates, setting time billing 145
realised gains and losses, tracking
sales and purchases 176
transfers 177
receipts, printing 79
receivables. See accounts receivable
Receive Money window 48
Receive Payments window 78
receiving items without a supplier
bill 95
receiving money 47 54
cash payments 47
cheque payments 47
credit card payments 47
customer payments 77
exporting transactions 289
grouping with undeposited
funds 48 78
importing transactions 290–291
invoice payments 77
receipts 79
records 188
adding 181
using Easy-Add 182
changing 186
deleting 187
inactivating 186
reactivating 186
searching 185
rectangles, drawing on forms 221
recurring transactions 197–201
automatically recording 198
changing 199
cheques 48 52 55
creating 197
creating from an existing
entry 199
deleting 200
editing 199
pre-dated 198
purchases 94
recording
multiple 201
single 200
rescheduling 200
responding to reminders for 201
sales 70
317
saving 197
scheduling 198
setting reminders for 198
refund cheque, receiving 106
refunds. See customer credits;
supplier debits
registration. See activation of
company files
Reminders window 201
remittance advices
preparing 212
previewing 52
sending 52 86 212
using custom lists as filters 170
viewing in Microsoft Excel 205
Reports menu (command
centres) 14
restoring a backup 277
RetailBasics, importing data
from 291
RetailManager, importing data
from 291
returns. See customer credits;
supplier debits
reversing transactions 196
318
Sales command centre 67
Sales Register window
finding transactions using 192
viewing and editing sales in 192
Sales window 68
reportable employer super
contributions 134
reports
batches 205
changing default fonts 210
columns, moving and
resizing 203
custom reports
storing on a network 288
customising 206
designing 208
emailing 204
faxing 204
filtering information appearing
on 207
printing 203
when several users active 287
purchases reports 101
reviewing at month-end 257
sales reports 76
saving as
comma-separated values (CSV)
files 204
HTML files 204
PDF files 204
simple text files 204
tab-delimited values files 204
sending 204
previewing 70
printing 70 94
in a batch 213
quote 67
recurring 70 197
reports 76
saving as a PDF file 70
to overseas customers. See multiple
currencies
viewing list of unpaid sales 76
search icons 16
S
sales
analysing
using Business Insights 75
analysing activity 76
assigning tax code to a sale 69 93
batch printing 213
changing status of 74
choosing type of 68
deleting 195
emailing 70
in a batch 213
entering 54 67
exporting 289
faxing 70
history, viewing for item, customer
or employee 77
importing 290
income account for tracking
sales 156
insufficient on-hand item
quantities 71
invoice 67
layout 68
orders 67
seats, obtaining extra licences 276
Select & Edit Employee’s Pay
window 125
select columns 16
Select Pay Period window 124
shortcuts, making shortcuts to the
company file 298
Show Me How movies 11
single-user mode
file locking 286
when required 286
See also multi-user mode
Software Manager 31 284
software updates 31 284
spend 290
Spend Money window 51
spending money 50 102
bill payments 102
definition 50
electronic payments 53
exporting transactions 289
importing transactions 290
petty cash 57
sending remittance advice 52
transactions
recording 50
serial number
entering into company files
while activating by
telephone 26
while activating over the
Internet 25
Split button 55
Services menu 11
state and territory payroll tax
calculating 135
reporting 258
setting up 135
Set Item Prices window 167
Settle Returns & Credits
window 85
Settle Returns & Debits
window 106
shared public folder
accessing from workstations 297
setting up on host 295
See also company file; host
computer; network
standard cost of an item 156 157
standard pay 119
Starting a new financial year 263
Starting a new payroll year 267
statements
customising 216
emailing 259
importing 61
printing 259
reconciling 58
out of balance amounts,
correcting 59
sending at month-end 259
INDEX
discounts
early payment 103
volume 93
orders 91
paying 54 102
electronically 53
several bills at once 104
purchase history, viewing 101
purchases 91
quotes 91
receiving items without an
invoice 95
who are also customers 86
sub-jobs 243
subpasswords. See user accounts
subtotal, showing in
transactions 70 95
superannuation
checking calculations for a pay
run 134
checking the exclusions and
threshold amounts 134
choice of superannuation
fund 118 133
employee details, entering 118
funds, creating 133
paying 132 258
payroll categories
changing 112
creating 110
definition 110
deleting 187
reportable 134
reporting 133 258
Standard choice form 118 133
supplier debits
deleting 194
recording 104
refund cheques 106
settling 105
suppliers
bank information for 40
billing rates, setting 145
bills
entering 91
paying 102
cards, creating 36 89
credit terms
changing when recording
purchase 92
debits
deleting 194
recording 104
refund cheques 106
settling 105
INDEX
Synchronise Cards window 232
synchronising cards and Outlook
contacts
export cards to Outlook
contacts 232
import Outlook contacts to
cards 234
including custom fields 231 233
when you use a PDA 232 233
system requirements
host computer 294
network 294
T
tax codes
assigning to
accounts 184
cards 184
items purchased 157
items sold 157
purchases 93
sales 69
changing 186 194
creating 182
deleting 187
exporting 289
importing 290
See also taxes
tax tables
checking for latest 274
loading 37 274
receive update alerts 274
taxes
change amount assigned to
purchases 94
Receive Money transactions 48
sales 69
Spend Money transactions 52
employee tax information,
entering 119
PAYG Withholding 110 116
variations 119
paying using the Pay Liabilities
window 132
payroll, state and territory 135
258
See also tax codes
Termination Details window 139
termination of
employment 136–139
bona fide redundancy
payment 137
determining outstanding
entitlements 136
employment termination
payment 137
entering termination details 139
recording the final termination
pay 139
text fields
adding to forms 220
changing font characteristics
of 220
thirteen accounting periods 22
time billing 143
activities
creating 146
definition 146
deleting 187
activity slips 148
including in employee
pays 125
multiple 150
single 148
adjusting accounts to reflect work
in progress 154
including items on invoices 144
invoices 152 153
preferences 144
using special billing units 144
work in progress 154
timesheets
changing details during pay
run 125
delete 121
employee hours, entering 121
excluding from a pay run 125
report 125
setting up 121
time billing information,
entering 121
unpaid hours
clearing 122
deleting 122
reporting 125
view timesheet reports 121
To Do List
making supplier payments
from 101 104
To Do List menu (command
centres) 14
tool palette 219
tracking employees’ time. See time
billing
Transaction Journal window 193
319
transactions
changing 195
create recurring from an existing
entry 199
deleting 195
exporting 289
finding 14 191–194
identifying user who entered 275
importing 290–291
from bank or credit card
statement 61
recurring 197–201
reversing 196
unchangeable 195 196
Transactions CAN’T be Changed;
They Must be Reversed
preference 196
transferring
inventory 160 161
money 56
tutorial 12
user accounts
creating 276
managing 275
maximum licensed number
reached 287
passwords 276
purpose of 275
restricting access to windows and
functions 276
See also administrator account
Y
V
year
financial 263
payroll 267
verify company file 254 282
year-end
financial 263 –266
payroll 267–274
View Contact Log window 227
void cheque 62
volume discounts
giving 68
receiving 93
unchangeable transactions 195
196
W
uncleared transactions,
matching 61
wages
cash wages, recording a cheque
transaction 130
definition 110
payroll categories
changing 111
creating 110
deleting 187
See also payroll, employees
Undo Last Reconciliation
window 60
Updates, software 31 284
Use Recurring button 200
workstations
accessing shared public folder
from 297
obtaining extra licences 276
See also host computer, network
user IDs. See user accounts
U
undeposited funds
deleting transactions 187
grouping payments 48 78
work in progress
adjusting accounts to reflect 154
tracking 154
Wages Information window 111
112
withdrawals, ATM 62
year-end tasks
adjustments in 13th period 22
entering budgets 245
financial 263 –266
entering end-of-year
adjustments 264
optimising company file 266
provide information to your
accountant 263
reconcile accounts 255
reconcile inventory 263
start a new financial year 266
payroll 267–274
back up company file 274
print payment summaries 267
print payroll reports 267
process the last paycheques for
the year 267
start a new payroll year 274
yearly budgets 247
Z
zoom arrows 15
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