MYOB AccountEdge 2 User Guide us

MYOB AccountEdge 2 User Guide us
AccountEdge
User Guide
MYOB US, Inc.
WEBSITE: http://www.myob.com/us
© Copyright MYOB Technology Ltd, 2001
All rights reserved.
Trademarks
MYOB® is a registered trademark, AccountEdge is a trademark, and Small Business Smart
Solutions is a service mark of MYOB Limited.
Microsoft, Windows, Word and Excel are either registered trademarks or trademarks of
Microsoft Corporation.
Apple, Macintosh and QuickTime are registered trademarks of Apple Computer, Inc. Mac
and the Mac logo are trademarks of Apple Computer, Inc. used under license.
CaseWare is a registered trademark of CaseWare International Inc.
Timeslips and TAL are trademarks of TIMESLIPS Corporation.
Quicken and QuickBooks are registered trademarks of Intuit Inc.
Other products mentioned may be trademarks or registered trademarks of their respective
owners.
This User Guide is intended for use with MYOB AccountEdge version 2.0, October 2001.
MYOB AccountEdge, Version 2.0 us
MYOB US, Inc. Software License Agreement
This is an agreement between you, the end user and MYOB US, Inc. (“MYOB”). By installing and/or
using this version of MYOB software (the “Software”), you are agreeing to become bound by the terms
of this agreement.
IF YOU DO NOT AGREE TO THE TERMS OF THIS AGREEMENT, DO NOT USE THIS SOFTWARE.
PROMPTLY REMOVE IT FROM YOUR COMPUTER. You may then return the entire package and your
receipt within 30 days to the place from which it was obtained, or to MYOB, for a refund of the
purchase price. Until return of this package has been accepted, you are governed by this Agreement.
This Software is protected by copyright laws and international treaties and may only be used in
accordance with the license terms.
LICENSE. MYOB hereby grants to you, the original purchaser, a paid-up, non-transferrable
(except as specified below), non-exclusive license (the “License”) to use the enclosed program
and User’s Guide (the “Software”) subject to this Agreement.
a. SINGLE SITE. You may use the Software on the number of licensed workstations at a single location. You may transfer the Software from one such computer to another provided that you do not
use or permit the usage of the Software on more than the licensed number of computers or computer terminals at a time.
b. COPIES. You may not copy or duplicate the Software, except as necessary solely for archival purposes, program error verification, or to replace defective storage media. You agree to retain the
Software and all such copies in your possession.
c. RESTRICTIONS; TRANSFER. Except as permitted by this paragraph, you may not sublicense, lease,
rent, lend, or distribute the Software or any lawful copies thereof or otherwise transfer any of your
rights under this Agreement. Except when you use this license to obtain special upgrade pricing
on Software from MYOB, you may transfer the Software (together with all back-up copies you
have made) and the manual(s) on a permanent basis to a third party so long as you retain no
copies, the transferee agrees to be bound by the terms of the Agreement, and you notify MYOB in
writing of such transfer.
d. TERM. The License is effective until terminated. You may terminate the License at any time by
destroying the Software together with all copies. The License is automatically terminated if you
violate any portion of this Agreement. You agree upon any such termination to destroy the Software together with all copies. Upon termination, there will be no refund of any monies paid by
you except in connection with the 30 day return policy set forth above. Termination of this
License shall be in addition to and not in lieu of any other remedies available to MYOB.
LICENSE REGISTRATION. IF YOU ARE A NEW USER, YOU MUST REGISTER THE SOFTWARE WITH
MYOB (for registration procedure, refer to Getting Started manual). You may only access the software TWENTY-FIVE (25) times without registering. after the twenty-fifth time, the registration
screen will appear but use of the software will be prevented until you register.
CONTINUING FULFILMENT. If MYOB elects, in its sole discretion, to produce subsequent updates and
revisions to the Software (collectively, “Updates”), you may receive such Updates as they become
available. All Updates are subject to the terms of this License.
COPYRIGHT PROTECTION. The Software is protected by United States and International Copyright Law.
ANY USE OF THE SOFTWARE, EXCEPT AS EXPRESSLY PERMITTED IN THIS LICENSE AGREEMENT,
MAY SUBJECT YOU TO CIVIL DAMAGES AND LEGAL FEES, AND MAY BE A SERIOUS CRIME.
TAX TABLES. YOU ASSUME FULL RESPONSIBILITY FOR THE SELECTION OF THE PAYROLL TAX
TABLES AND SALES TAX TABLES (“TAX TABLES”) TO ACHIEVE YOUR INTENDED PURPOSES,
User Guide
FOR THE PROPER INSTALLATION AND USE OF THE TAX TABLES AND FOR VERIFYING THE
RESULTS OBTAINED FROM USE OF THE TAX TABLES. MYOB DISCLAIMS ANY WARRANTY OR
CONDITION THAT THE FUNCTIONS CONTAINED IN THE TAX TABLES WILL MEET YOUR
REQUIREMENTS OR THAT THE OPERATION OF THE TAX TABLES WILL BE INTERRUPTION OR
ERROR FREE.
PROFESSIONAL A DVICE . MYOB IS NOT ENGAGED IN RENDERING LEGAL, ACCOUNTING OR OTHER
PROFESSIONAL SERVICE. IF LEGAL ADVICE OR OTHER EXPERT ASSISTANCE IS REQUIRED, THE
SERVICE OF A COMPETENT PROFESSIONAL PERSON SHOULD BE SOUGHT. IT IS YOUR RESPONSIBILITY TO KEEP INFORMED OF ACCOUNTING, TAX, AND/OR PAYROLL CHANGES THAT MAY
AFFECT YOU AND TO ENSURE THAT YOU FOLLOW THESE CHANGES.
CONFIDENTIALITY. The software constitutes confidential Information and contains trade secrets of
MYOB. You are not permitted to disclose the software to any third part except in accordance with this
Agreement. You may not reverse engineer, disassemble, or decompile the software.
LIMITED WARRANTY AND DISCLAIMERS OF WARRANTY. MYOB warrants that the media on which the Software is recorded is free from defects in materials and workmanship under normal use for a period of
30 days from the date of your original purchase. THE SOFTWARE AND RELATED MATERIALS ARE
PROVIDED “AS IS” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED,
INCLUDING WARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE
OR ANY OTHER STATUTORY OR COMMON LAW WARRANTIES. NO WARRANTY IS MADE
REGARDING THE PERFORMANCE OF THE SOFTWARE OR THE RESULTS THAT MAY BE OBTAINED
BY USING THE SOFTWARE. THE ENTIRE RISK AS TO THE INSTALLATION, USE, QUALITY, AND
PERFORMANCE OF THE SOFTWARE IS WITH YOU. It is your responsibility to verify the results
obtained from use of the Software.
Some jurisdictions do not allow the limitation or exclusion of implied warranties, so the above limitation or exclusion may not apply to you. This warranty gives you specific legal rights and you may also
have other rights which vary. This disclaimer of warranties and the limitation of liability below shall
not be modified, diminished or affected by and no obligation or liability will arise or grow out of the
rendering of technical, programming, or other advice or service or the provision of support for the
Software by MYOB.
LIMITATION OF REMEDIES. MYOB’s entire liability to you and your exclusive remedy shall be the
replacement of any defective CD-ROM returned by you to MYOB with proof of purchase during the
30-day limited warranty period, as set forth above. IN NO EVENT WILL MYOB BE LIABLE TO YOU
FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING BUT NOT LIMITED TO LOST REVENUES, DATA, PROFITS OR SAVINGS) ARISING OUT OF
YOUR USE OR INABILITY TO USE THE SOFTWARE EVEN IF MYOB HAS BEEN ADVISED OF THE
POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL THE LIABILITY OF MYOB ARISING FROM
YOUR USE OR INABILITY TO USE THE SOFTWARE EXCEED THE FEE PAID BY YOU FOR THIS
LICENSE. Some jurisdictions do not allow the limitation or exclusion of liability for incidental or consequential damages so the above limitation or exclusion may not apply to you.
GENERAL. This Agreement will inure to the benefit of MYOB, its successors, and assigns and will be
construed under the laws of New Jersey, except for that body of laws dealing with conflict of laws. If
any provision of this Agreement is deemed invalid by a court of competent jurisdiction, such provision
shall be enforced to the maximum extent permitted and the remainder will remain in full force. This
Agreement is the entire agreement between you and MYOB in respect of the software.
MYOB AccountEdge, Version 2.0 us
Contents
Chapter 1
Getting Started
................................................. 9
Learning Tools
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Where to Start
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Creating a New Company File
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Navigating in MYOB AccountEdge
Chapter 2
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Setting Up Your Company File
Overview
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Setting up Preferences
Setting up Accounts
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Setting up Sales details
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
Setting up Purchase details
Setting up Payroll details
Setting up Tax Codes
Setting up Items
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
Setting up your Bank Accounts
Setting up Jobs
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47
5
Contents
Chapter 3
Receiving and Spending Money
Receiving Money
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50
Preparing a Bank Deposit
Spending Money
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53
Entering Transactions in the Bank Register
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55
Importing Statements into MYOB AccountEdge
Tracking Credit Card Purchases
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59
Recording Miscellaneous Transactions
Chapter 4
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68
Reviewing your Sales Information
Receiving Payments
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73
Adding Finance Charges
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75
Creating Customer Credits
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76
Entering Purchases
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79
Entering Purchases
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80
Changing the Status of a Purchase
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86
Reviewing your Purchase Information
Paying Bills
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94
Managing Your Inventory
Making Inventory Adjustments
Making Inventory Transfers
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100
Auto-building Items
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101
Counting Inventory
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103
Setting Item Prices
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104
Customizing Inventory
Inventory Reports
6
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91
Creating Vendor Debits
Chapter 6
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Changing the Status of a Sale
Chapter 5
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
Entering Sales and Payments
Entering Sales
. . . . . . . . . . . . . . . . . . . . . . . . . . . 57
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108
MYOB AccountEdge, Version 2.0 us
Contents
Chapter 7
Working With Lists
Adding a New Record
Finding a Record
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112
Changing a Record
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113
Deleting a Record
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114
Inactivating/Reactivating a Record
Chapter 8
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116
Working With Transactions
Finding a Transaction
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118
Changing or Deleting a Transaction
Reversing a Transaction
Paying Your Employees
Creating Payroll Categories
Paying your Employees
Billing For Time
Creating Activities
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 146
Working with Activity Slips
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 149
Creating Time Billing Invoices
Tracking Work in Progress
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 152
Recording International Transactions
Setting up Multicurrency
. . . . . . . . . . . . . . . . . . . . . . 153
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154
Creating Multicurrency Transactions
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 157
Tracking Currency Gains and Losses
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 158
Working with Multicurrency
User Guide
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 142
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144
Creating Activity Slips
Chapter 11
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135
Setting Time Billing Preferences
Setting Billing Rates
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128
Reviewing Payroll Information
Chapter 10
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123
Working with Recurring Transactions
Chapter 9
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 160
7
Contents
Chapter 12
Printing Forms
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163
Finding Forms
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 164
Printing Forms
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165
Customizing Forms
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 167
Adding Elements to a Form
Chapter 13
Using Reports
Finding Reports
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 170
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 175
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176
Customizing Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Working with Reports
Preparing to Print Reports and Forms
Printing Report Batches
Chapter 14
Month-end Procedures
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 189
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 190
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 196
Starting a New Fiscal Year
Starting a New Payroll Year
Chapter 15
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 184
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 186
End of Period Procedures
Year-end Procedures
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 197
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 199
Maintaining Your Company File
Setting up Passwords
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203
Restoring a Backup of your Company File
Working with your Company File
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 205
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206
Using your Company File on a Network
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 208
Importing and Exporting Data
Importing Accounting Data
Exporting to and Importing from CaseWare
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 215
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 217
More Tools for Managing Your Business
Index
8
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 213
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 213
Exporting Data from MYOB AccountEdge
Appendix B
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 201
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 202
Backing up your Company File
Appendix A
177
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 182
. . . . . . . . . . . . . . . . . . . . 219
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 223
MYOB AccountEdge, Version 2.0 us
CHAPTER
1
Getting Started
Thank you for purchasing MYOB AccountEdge, which has been designed to make it easy
for you to keep track of your important financial information.
Keeping track of where your money is going is an important part of managing your
business. By using MYOB AccountEdge, you’ll soon see that there is more to managing
your business than just keeping an eye on the cash book. If you’re using a computerized
accounting system for the first time, you will find yourself organized, informed and in
control of your business with MYOB AccountEdge—and it’s fun and easy at the same time.
If you’ve never worked with debits and credits, don’t worry—AccountEdge handles the
‘double-entry accounting system’ behind the scenes. It doesn’t hurt to have a rough idea
of what it’s all about though; your accountant can help you understand the basics if you
need assistance.
MYOB AccountEdge follows all the Macintosh conventions; so what you know from using
other programs will translate easily to AccountEdge. What you know about file
management, copying, cutting, pasting and entering information applies to
AccountEdge.
In addition to this User Guide, we have provided you with a comprehensive on-line help
system.
Use these tools and think of the way your business works. This will help you integrate
AccountEdge’s many features with the needs of your business.
AccountEdge’s flexibility allows you to customize the program to fit in with the way you
work. So it is important that you have a clear picture about your business and what
accounting information you want to capture.
For example, you might start thinking about your main areas of income and how your
customers pay you for goods and services. Is your business a sole proprietorship,
partnership or a company? As you read through this User Guide, take notes on the
AccountEdge features you think will be useful to your business.
9
Chapter 1 Getting Started
Learning Tools
Learning Tools
We, at MYOB, are committed to making MYOB AccountEdge a product that is easy to use.
For that reason we have developed comprehensive learning tools that will teach you the
fundamentals of MYOB AccountEdge, support you as you set up your company’s records
and back you up in your everyday work with the product. Using these tools, you should
find the answers to all your routine questions about how to use AccountEdge. If you have
any questions, we recommend that you explore these tools before you call our Technical
Support department.
The MYOB AccountEdge User Guide
This User Guide is intended for use with MYOB AccountEdge version 2.
This User Guide has been designed to be used in conjunction with the MYOB Learning
Center, MYOB AccountEdge’s comprehensive online help. (For more information, see ‘The
MYOB Learning Center’ on page 11.)
This User Guide contains the basic information you need to set up and run your MYOB
AccountEdge system on a day to day basis.
More extensive information is available in the MYOB Learning Center. Where
necessary—for example, for detailed field help, advanced procedures, overviews and
helpful tips—the User Guide will refer you to the Learning Center.
References to the MYOB Learning Center
The User Guide uses the following methods to refer you to the Learning Center for more
information.
Help button When completing a task in an MYOB AccountEdge window, you can click
the Help button in that window (see ‘Help buttons’ on page 11). The Learning Center will
be displayed, providing you with a detailed description of each field in that window, and
with instructions on tasks you can perform in that window.
See also
Banking>
Receive Money
Overview in the
Learning Center.
The Learning Center icon (
) The Learning Center icon directs you to further
information about the topic in the MYOB Learning Center. References similar to the
example on the left appear throughout this User Guide.
For example, if the reference is “See Banking> Receive Money Overview,” click the Banking
entry in the contents panel on the left side of the Learning Center and then click the topic
Receive Money Overview on the main page on the right.
Specific references The User Guide has direct references to specific topics in the MYOB
Learning Center. Use the contents panel on the left side of the Learning Center to find the
main entry, and then click on the relevant topic.
10
MYOB AccountEdge, Version 2.0 us
Chapter 1
Getting Started
Learning Tools
The MYOB Learning Center
The MYOB Learning Center is MYOB AccountEdge’s comprehensive learning system. It can
help you with every task you want to perform in AccountEdge.
Depending upon your preferences and your access to the Internet, you can choose to view
the MYOB Learning Center either on the World Wide Web (at http://help.myob.com) or
using help files on your computer. If you have access to the Internet, you might want to use
the Web-based version of the Learning Center, since it's updated continually and may
provide extra information or learning tools that aren't available in your computer-based
version.
If you don't have access to the Internet or you prefer to keep your phone line free for other
activities, use the Learning Center that was installed on your computer.
You can switch between the Web-based version and the version on your computer by
marking or clearing the I Prefer to Use Help From the Internet, Rather Than My
Computer preference. (This option appears in the System view of the Preferences
window.)
You can access the Learning Center by choosing AccountEdge Help from the Help menu
or by clicking the Help button from any window in AccountEdge. You can also access the
Learning Center by clicking the
icon in the top right corner of a command center
window.
Help buttons
Help buttons make it easy to find answers to the questions you may have while working
with AccountEdge. These buttons appear in the lower left corner of MYOB AccountEdge
windows. When you click the Help button, the MYOB Learning Center appears in your
Web browser, displaying information about the window you're currently viewing. With a
few clicks, you can learn more about the individual fields and buttons in the window, stepby-step instructions for the tasks you can perform in the window, and more.
Using the MYOB Learning Center
The MYOB Learning Center is designed to answer your questions about MYOB
AccountEdge and to help you make the most of your software.
To display the Learning Center, click the Help button from any window in MYOB
AccountEdge or choose AccountEdge Help from the Help menu. When the Learning
Center is displayed, click the Site Help icon in the contents panel. A list of topics is
displayed.
Click on a topic and read the information to become acquainted with the Learning Center
and use it more effectively.
User Guide
11
Chapter 1 Getting Started
Learning Tools
Other Learning Tools
In addition to the User Guide and the MYOB Learning Center, the following learning tools
have also been provided.
•
•
•
12
The Getting Started guide (for new users only). The Getting Started guide details
how to install and register your MYOB AccountEdge software.
Upgrade Instructions (for upgraders only). The Upgrade Instructions detail how to
install MYOB AccountEdge version 2 and upgrade your company file.
A PDF version of the MYOB AccountEdge User Guide (as well as PDF versions of
other user documentation) have been included in the Manuals folder on your
MYOB AccountEdge CD-ROM. These files are also available in the Manuals folder in
your MYOB AccountEdge program folder on your hard disk. You can read PDF files
onscreen using Adobe Acrobat Reader or print it using your printer. You can install
Adobe Acrobat Reader 4 from the MYOB AccountEdge CD-ROM.
MYOB AccountEdge, Version 2.0 us
Chapter 1
Getting Started
Where to Start
Where to Start
If you haven’t installed MYOB AccountEdge yet, refer to your Getting Started guide or
Upgrade Instructions for installation instructions before you read the rest of this chapter.
Start up MYOB AccountEdge. To do this, locate and double-click the MYOB AccountEdge
icon in the folder that was created when you installed your software. If you used the
defaults suggested during installation, this icon should be located in the MYOB
AccountEdge folder.
After a few moments, the Welcome to MYOB AccountEdge window (similar to the one
shown below) is displayed.
This window is displayed every time you start. In this window, you are presented with five
options:
•
•
•
•
•
User Guide
Open your company file—use this option to open your company file once it has
been created.
Create new company file—create a company file for your company.
Explore the sample company—experiment with a sample company’s data and
learn how to use MYOB AccountEdge. See page 14.
What’s New in this version—learn about the exciting new features in this version
of MYOB AccountEdge.
Exit MYOB AccountEdge—close MYOB AccountEdge.
13
Chapter 1 Getting Started
Where to Start
Experiment With a Sample Company’s Data
Before you create a new company file, we recommend that you experiment with the sample
company’s data. We have provided a sample company file, called Widgets & Co., to allow
you to experiment freely with AccountEdge’s features without damaging any of your own
company’s financial information. This is an excellent way to learn how to use AccountEdge,
to see actual accounting data that has already been entered into the AccountEdge system,
and familiarize yourself with the way AccountEdge works.
To explore the Widgets & Co. company file
¨ Click the Explore the sample company button in the Welcome to MYOB
AccountEdge window. The command center window of the sample company is
displayed.
N O TE
Manually locating the sample company file If the sample company file has been moved, a dialog
box is displayed, requesting you to select the sample company file. Locate and open the file named
Widgets & Co.
The command center window is always displayed on your computer screen when
AccountEdge is running. Notice that the name of the sample company, Widgets & Co., is
displayed in the top left corner of the window.
Now that the Widgets & Co. company file is open, feel free to browse around the MYOB
AccountEdge system and explore the accounting entries that have already been made for
the sample company.
CA UT I ON
Do not enter your own financial data Do not enter your own company’s financial information into
the Widgets & Co. company file. This company file is for learning purposes only.
14
MYOB AccountEdge, Version 2.0 us
Chapter 1 Getting Started
Creating a New Company File
Creating a New Company File
See also Setting
up your
Company> Creating
a New Company File
Overview in the
Learning Center.
When you make entries in MYOB AccountEdge, that information is stored within one file
in your computer, called a company file. (A company file is a lot like a computerized filing
cabinet, with all sorts of information about your business stored in it.) This single file allows
you to work with your company’s financial information without expending a lot of time
and effort on your computer’s file storage system.
MYOB AccountEdge’s New Company File Assistant leads you through the process of
creating a new company file, step-by-step.
If you are setting up business for the first time, we strongly recommend that you consult
your accountant or a Certified Consultant to help you set up MYOB AccountEdge correctly.
To find a Certified Consultant in your area, go to the Help menu and choose Find Certified
Consultant.
Before you begin
Before you create your new company file using the New Company File Assistant, you will
need to know the following information about your company.
What year is your current fiscal year?
The important thing to remember here is that the current fiscal year is not necessarily the
current calendar fiscal year.
In MYOB AccountEdge, and according to the standard used by most accountants, fiscal
years take the name of the calendar year in which they end. For example, your fiscal year
might run from October 2000 to the end of September 2001. Since the end of the fiscal year
falls in 2001, the fiscal year is referred to as “fiscal year 2001.”
Make sure you choose the correct fiscal year. If you are unsure, check with your accountant.
What is the last month of the fiscal year?
The fiscal year of many businesses ends in December, but if your company has a fiscal year
structured like the example above, you’ll need to select another month, such as September.
What month will you be converting to using MYOB AccountEdge?
This is a very important selection. Your conversion month is the month in which you plan
to start using MYOB AccountEdge. This month is particularly important in terms of your
opening balances that will be entered later when you set up your company file.
User Guide
15
Chapter 1 Getting Started
Creating a New Company File
Using the New Company File Assistant
The New Company File Assistant leads you step-by-step through the process of creating a
new company file. It consists of a series of interactive windows containing options that help
you reach a particular goal. When you have finished making entries and selections, the New
Company File Assistant will create a new company file for your company.
When using the New Company File Assistant, remember that in most instances, you can
return to previous windows to review (and sometimes change) the entries you have made.
You can also quit the Assistant while you are in any window that contains a Cancel button.
If you quit the Assistant before the company file is created, you will need to start the
Assistant from the beginning again.
To create a new company file
1
Click the Create new company file button in the Welcome to MYOB AccountEdge
window. The New Company File Assistant is displayed.
2
Click Next. The Company Information window is displayed.
3
Enter your company’s name, address, phone number, fax number and e-mail address.
Your company's name and address can be printed on invoices, bills and statements.
4
Click Next. The Accounting Information window is displayed.
5
Enter the following information in this window:
•
•
16
Enter your company’s current fiscal year. Remember, this is not necessarily the same
as the calendar year.
Enter the last month of the fiscal year.
MYOB AccountEdge, Version 2.0 us
Chapter 1 Getting Started
Creating a New Company File
•
Choose the month in which you plan to start using AccountEdge from the
Conversion Month drop-down list.
CA UT I ON
Choose the conversion month carefully When this window is displayed, the conversion month
defaults to the current month. If you accept this, you will not be able to enter transactions made before
this month; you will need to enter them as historical information.
•
6
7
Since it’s best to begin using a new accounting system at the start of a month, you
might want to consider selecting the next month as your conversion month.
Whatever your choice, note that you can only choose a month in the fiscal year you
entered earlier.
Choose the preferred number of accounting periods. Most companies need only
twelve accounting periods—one period for each month—to track their finances
during the fiscal year. Some companies, however, make a significant number of yearend adjustments and prefer to use thirteen accounting periods. The thirteenth
period isn't an actual period of time; it's merely a “placeholder” period that contains
your year-end adjustments. If in doubt, choose thirteen periods.
Click Next. Confirm the accounting information you entered. If you want to make any
changes, click the Back button. Otherwise, click Next to continue.
Specify how you would like to build your Accounts List and click Next. If you selected:
•
•
•
I would like to start with one of the lists provided by MYOB AccountEdge, go to
Step 8 to select your Accounts List.
I would like to import a list of accounts provided by my accountant..., go to
Step 9. After you have created the company file, see ‘Importing Accounting Data’ on
page 213 for more information about importing your Accounts List.
I would like to build my own accounts list..., go to Step 9.
8
Select your Accounts List. To do this, choose the industry classification of your business.
Then select the type of business that most closely matches your business. A suitable
Accounts List is displayed. You'll be able to tailor this list to meet the exact needs of your
business at a later time. Click Next.
9
In the Company File window, check the default name and location of your company
file. If you want to make any changes to the location or the file name, click the Change
button. Enter a new location and file name in the dialog box that is displayed, and click
OK.
10 Click Next. Your company file is created and the Conclusion window is displayed.
Choose one of the following options. Click:
•
•
User Guide
Setup Assistant, if you want to further customize your company file. This is the
recommended option, especially if you need to build an Accounts List. At this point,
the new company file doesn't contain much information about your company.
Chapter 2 explains how to set up your company file so it contains all your
company's existing business information. This process is made simple by MYOB
AccountEdge’s Easy Setup Assistant.
Command Center if you want to begin entering transactions right away. The
command center window is displayed (see page 18 for more information about
command centers).
17
Chapter 1 Getting Started
Navigating in MYOB AccountEdge
Navigating in MYOB AccountEdge
The command center
There are eight command centers in MYOB AccountEdge. The following is an illustration of
the Sales command center.
The command centers contain a row of icons in the top section of the window, which
represent the eight divisions of MYOB AccountEdge. Each time you view the central
location for all command centers, one of the icons is highlighted, and a flowchart of tasks is
displayed below the row of icons.
The highlighted icon is the current command center, and the flowchart displayed below the
row of icons contains the major tasks associated with that command center. For example,
when the Sales icon is highlighted, tasks such as Enter Sales and Print Invoices—typical
tasks you’d complete with relation to sales—are displayed in the flowchart.
Each command center also includes following options:
•
•
•
•
18
To Do List—The To Do List is where you can view the business tasks that affect your
company on a regular basis.
Find Transactions—You can use Find Transactions to view summary information
about each of your company's accounts, sales, purchases, cards, payroll and jobs.
Reports—You can use Reports to view a list of reports available in AccountEdge.
Analysis—You can use Analysis to display windows that allow you to analyze a
number of key aspects of your business.
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Chapter 1 Getting Started
Navigating in MYOB AccountEdge
There are two ways of selecting an option. You can either:
•
•
click an option to display the window relevant to the command center you are in,
or
click an option and hold down the mouse button. A menu appears, listing the
available options for all command centers (not just the command center you are in).
Make a selection from this list.
Tools in MYOB AccountEdge
Zoom arrows and search icons are used throughout AccountEdge to help speed data entry
and simplify the ways you access windows in AccountEdge. They are described below.
Zoom arrows
Zoom arrows, displayed next to various fields throughout AccountEdge, allow you to review
or “zoom” to more detailed information about a specific topic, such as a transaction or
customer record. This detailed information is usually located in the window in which the
topic was originally entered.
A white zoom arrow indicates that you can zoom to more detailed information about a
transaction and make changes to or delete the transaction, if you want.
A gray zoom arrow allows you to zoom to more detailed information about a transaction
but the information is display only. If you want to change the information, you can reverse
the transaction and re-enter it (see ‘Reversing a Transaction’ on page 123). Alternatively,
you can change your security preference selection to make all transactions changeable (see
‘Setting up Preferences’ on page 23).
Search icons
Search icons, displayed next to various fields throughout AccountEdge, allow you to open
selection lists containing records you’ve previously entered into the MYOB AccountEdge
system, such as customers and shipping methods. From the selection list, you can then
select a record to appear in the field.
User Guide
19
Chapter 1 Getting Started
Navigating in MYOB AccountEdge
20
MYOB AccountEdge, Version 2.0 us
CHAPTER
2
Setting Up Your Company
File
The more accounting information you have when you set up MYOB AccountEdge, the
easier your transition will be. Although we would all like to have a complete set of balances
on hand when setting up AccountEdge, the fact is that only a few businesses have all the
information at their disposal. Ideally you should have the following information:
-
a list of your accounts with their balances,
-
a detailed list of your receivables,
-
a detailed list of your payables,
-
a bank reconciliation, showing your bank balance, your bank statement balance,
uncleared checks and deposits not yet credited as of your AccountEdge conversion
date, and
-
a list of the items you sell and their selling price.
The absolute minimum information you need to set up your file is a bank reconciliation as
described above.
Many businesses setting up MYOB AccountEdge for the first time find they fall somewhere
in between the two extremes. They can provide a bank reconciliation, a list of receivables
and payables and an inventory valuation. This is usually enough information to get started,
as the remaining balances can be entered later.
This chapter is about setting up your business in MYOB AccountEdge. It shows you how to
set up your preferences, accounts, sales, purchases, items, payroll, tax codes and jobs. You
don’t need to set up all the features AccountEdge offers at once; if you prefer, you can just
set up the minimum for your business and set up the other areas later.
Think carefully about what accounting transactions you want AccountEdge to track. For
example, if you sell books, you may want separate income and cost of sales accounts for
your fiction and non-fiction book sales. If you run a gas station you may want to track gas
sales separately from oil and consumables. Keep it simple, as you can always add accounts
to AccountEdge to track additional items and transactions.
21
Chapter 2 Setting Up Your Company File
Overview
Overview
See also Setting
up your
Company> Easy
Setup Assistant
Overview in the
Learning Center.
Before you start entering transactions in MYOB AccountEdge, you need to set up your
company file. Setting up involves tasks such as customizing the way AccountEdge operates,
setting default sales and purchase details, recording details of your customers and vendors,
and so on.
To help you to quickly and efficiently set up your company file, AccountEdge includes the
Easy Setup Assistant, which guides you through the necessary steps.
The following checklist outlines what you should set up before entering transactions in
AccountEdge. You can complete most of these tasks using the Easy Setup Assistant.
Step
Set up
Refer to...
1
Set up preferences
page 23
2
Set up accounts
page 24
3
Set up sales details
page 28
4
Set up purchase details
page 31
5
Set up payroll details
page 34
6
Set up tax codes
page 39
7
Set up items
page 41
8
Set up bank accounts
page 46
9
Set up jobs (optional)
page 47
Once you complete the initial setup using the Easy Setup Assistant, you will be ready to start
using your company file for your business. If you need to make changes to your setup or add
to your records, you can do so directly from the command centers.
If you are in the final
step of the New
Company File
Assistant, click the
Setup Assistant
button to start the
Easy Setup Assistant.
22
Start the Easy Setup Assistant by choosing Easy Setup Assistant from the Setup menu. The
following window is displayed. See “Setting up Preferences” on page 23.
MYOB AccountEdge, Version 2.0 us
Chapter 2
Setting Up Your Company File
Setting up Preferences
Setting up Preferences
MYOB AccountEdge has numerous preferences that you can set to customize the way the
application operates. The Easy Setup Assistant will guide you through setting up some of
them.
You can set the rest of the preferences or make changes to your initial selection later in the
Preferences window (go to the Setup menu and choose Preferences). For more
information about preferences, in the Learning Center, choose Setting up Your Company>
Personalizing a Company, click the topic Customizing your MYOB AccountEdge system and
then click Customizing work preferences.
Click the Customize button in the Easy Setup Assistant window. The Customize Easy
Setup Assistant is displayed. Each window contains a list of preferences that you can set by
marking the checkbox next to the preference. Click the Next button to move through the
windows; click the Close button when you have finished.
Preferences in MYOB AccountEdge
The following is a list of a few preferences available in MYOB AccountEdge.
•
•
•
•
•
•
•
•
User Guide
Use Easy-Fill When Selecting From a List.You can use the Easy-Fill feature to
quickly enter account names, item names or numbers and card names that you enter
frequently. Easy-Fill will “recognize” the entry you're making and automatically fill
in the rest of the entry for you.
Use Expandable Data Entry Fields in Windows. If you enter long descriptions on
invoices and bills, you can view those descriptions in their entirety whenever the
Description field is active.
Warn Before Recording Post-Dated Transactions. Set this preference if you want to
be notified whenever you enter a future date as a transaction date—for example, if
you mistakenly enter a date two months from now.
Prompt for Backup when closing. Forget to back up regularly? Set this preference
and you will be reminded to back up your company file when you close it.
Select and Display Account Name, Not Account Number. If you find it easier to find
your accounts by their names rather than by their numbers, you can set up MYOB
AccountEdge so that you can enter accounts and sort your account search lists
alphabetically by using the name of the accounts rather than the numbers.
I Prefer to Use Help From the Internet, Rather Than My Computer. If you have
access to the Internet, you can view the latest online help for MYOB AccountEdge
on the World Wide Web, instead of using help files on your computer.
Warn if Customer has an Outstanding Credit Before Applying a Payment. You can
set this preference if you'd like to be notified that a customer has an existing
customer credit whenever you apply one of the customer's payments to a sale.
Transactions CAN’T be Changed; They Must be Reversed. Set this preference if you
want to keep a strict audit trail. Your transactions will be considered unchangeable,
and you won’t be able to make changes to or remove transactions you’ve recorded.
Instead, you’ll need to reverse a transaction to completely remove the effects of that
transaction on your records.
23
Chapter 2 Setting Up Your Company File
Setting up Accounts
Setting up Accounts
The second step to setting up your company file is to set up your accounts. This includes:
•
•
Reviewing your Accounts List
Entering your account opening balances
The Easy Setup Assistant will help you complete these tasks quickly. Click the Accounts
button in the Easy Setup Assistant window. The Accounts Easy Setup Assistant is displayed.
Review your Accounts List
In the Accounts Easy Setup Assistant, go to the Accounts List window. This window
displays the list of accounts you selected when you created your company file using the
New Company File Assistant.
There are eight types of accounts in the Accounts List—Assets, Liabilities, Equity, Income,
Expenses, Cost of Sales, Other Income and Other Expenses.
All accounts are assigned a level, which indicates their location in your Accounts List
hierarchy. The eight account types are the only accounts that can be Level 1. Other
accounts can be assigned Levels 2, 3 or 4.
If you haven't already reviewed your existing accounts, do so now. (You can review an
account’s details by clicking the zoom arrow next to the account.) You may want to enlist
the help of your accountant or an MYOB Certified Consultant. Since your accounts are the
foundation for the rest of your accounting records, it's important that they are complete
and are capable of meeting your individual company's needs.
To create a new account
See also
Accounts>
Accounts Overview>
Creating Accounts in
the Learning Center.
24
1
Click the New button. The Account Information window is displayed.
MYOB AccountEdge, Version 2.0 us
Chapter 2
2
Specify whether the account is a Header account, Detail account or Detail Checking or
Credit Card account.
•
If you are creating
your accounts list
from scratch, it may
be easier to enter all
your Header accounts
before entering your
Detail accounts.
•
•
•
3
Setting Up Your Company File
Setting up Accounts
Header accounts are non-postable accounts that contain Detail accounts. They
serve no accounting purpose except to group and total Detail accounts for reporting
clarity. Header accounts are displayed in bold type in your Accounts List. You are not
required to use Header accounts.
Detail accounts are postable accounts that add up to a particular Header account.
You can create Detail accounts at levels 2, 3 or 4.
Detail Checking account. This option is available if you are creating a Detail Asset
account. Select this option if you intend to assign transactions to the account you
are creating and you want to write checks using the funds in this account—for
example, your bank checking account, Petty Cash account and Cash Drawer
account. These accounts will be displayed in the accounts selection list in
transaction windows.
Detail Credit Card account. This option is available if you are creating a Detail
Liability account. Select this option if you intend to assign credit card transactions
to the account. Accounts with credit card privileges will be displayed in selection
lists in transaction windows.
Enter information about the account, such as an account number and account name.
Enter a currency if you are using the multicurrency feature.
N O TE
Account opening balances When creating or editing an account, note that you are not required to
enter account opening balances. This is done later in the setup.
4
Click OK when you have finished. The account you created will now appear in your
Accounts List.
In this step of the Accounts Easy Setup Assistant, you can also edit existing accounts' names
and numbers and delete accounts that you don't plan to use. You can also import accounts
if you've been using another computerized accounting system. For detailed instructions on
how to edit, delete and import accounts, click the Help button in this window. Also see
“Changing a Record” on page 113, “To delete an account” on page 114, and “Importing
Accounting Data” on page 213.
To change the level of an account If you want to change the level of an account in your
Accounts List in order to change its hierarchy, you can do so later from the Accounts List
window (go to the Accounts command center and click Accounts List). For instructions on
changing account levels, in the Learning Center, choose Accounts> Changing, Removing or
Inactivating Accounts and click the topic To change an account’s level.
When you have finished reviewing your Accounts List, click Next to enter your opening
balances. See the following section for instructions.
User Guide
25
Chapter 2 Setting Up Your Company File
Setting up Accounts
Enter your account opening balances
Unless you're just starting a new business, most of your accounts probably already have
balances—for example, you've made sales, paid bills, deposited money in your business's
checking account and conducted a variety of other business activities that affect your
accounts' balances. In this step, you'll enter those balances.
N O TE
Don’t enter inventory opening balances now If you are using AccountEdge to track your item
quantities and values, don’t enter the opening balance of your inventory accounts at this point. This is
done later when you set up your inventory (see page 41).
To properly assign opening balances to accounts, you need to enter the balance of each of
your accounts as of the first day of your conversion month—the month you began using
AccountEdge to track your business.
•
•
If your conversion month is the first month of your fiscal year (for example, if your
fiscal year runs from January to December, and your conversion month is January),
enter the opening balances of your asset, liability and equity accounts only. (The
opening balances of all your income, cost of sales and expense accounts should
remain zero.)
If your conversion month is not the first month of your fiscal year (for example, if
your fiscal year runs from January to December, and your conversion month is
August), enter the opening balances of all your accounts.
To enter opening balances
1
Enter the opening balance for each account in the Opening Balance column.
N O TE
You should enter opening balances as positive numbers. Don’t, for example, enter your liability
accounts’ balances as negative numbers. MYOB AccountEdge knows whether your accounts usually have
positive or negative balances. Enter negative amounts only if accounts truly have negative balances; as a
rule these will be accounts used to record accumulated depreciation.
26
MYOB AccountEdge, Version 2.0 us
Chapter 2
2
Check the Amount left to be allocated field at the bottom of the window.
•
•
3
Setting Up Your Company File
Setting up Accounts
If this field displays $0.00, the total of the opening balances you assigned to your
asset accounts equals the total opening balances of your liability and equity
accounts.
If this field displays an amount other than $0.00, check your opening balances
again. This value indicates that either your opening balances are incomplete or
incorrect. The amount that appeared in the Amount left to be allocated field will
be assigned to a special equity account called Historical Balancing. If you cannot
find the reason why the accounts don’t balance, click the Help button for more
information.
Once you have entered your account opening balances, click the Next button and then
close the Accounts Easy Setup Assistant.
You have completed setting up your accounts. If you want to make changes to or delete any
accounts later, you can do so from the Accounts command center. See the Working with
Lists chapter on page 109.
To continue with setting up your company file, see “Setting up Sales details” on page 28.
User Guide
27
Chapter 2 Setting Up Your Company File
Setting up Sales details
Setting up Sales details
Most businesses rely upon sales of goods or services to generate revenue for them. In the
Sales Easy Setup Assistant, you can set up information about your customers and other
information related to sales.
Before you begin using the Sales Easy Setup Assistant, you may find it helpful to gather
together a list of your customers, along with their addresses, phone numbers and so on. We
also recommend that you gather a list of all the sales you've made to customers that haven't
yet been fully paid off.
Click the Sales button in the Easy Setup Assistant window. Work your way through the
Sales Easy Setup Assistant, entering the required information in the appropriate windows.
Click the Help button in any window for detailed information about that window.
Set up a default layout
In the Layout window, choose the sale layout that you expect to use most often. This layout
will be assigned to all new customer cards but you can change the sale layout for your
customers at any time. Click Next.
Set up selling details
Use this window to set default entries that will make creating new customer records quicker.
Remember that you can change these selections for any of your customers at any time. For
more information on using this window, click the Help button.
When you have finished, click Next.
Select a default tax code
If you collect tax on sales, select the tax code that you use most often. Select whether freight
charges are taxable for most of your customers. Your selections here will appear as the
default in the Selling Details view of the new customer cards you create.
When you have finished, click Next.
Select a default payment method and credit terms
Indicate the credit terms you generally extend to your customers and the default payment
method. AccountEdge will use these credit terms as the default when you create new
customer cards, but you can change these terms any time. Click the Help button for more
information.
When you have finished, click Next.
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Setting up Sales details
Set up linked accounts for sales
Specify the default accounts that will be used to track your customer receipts and
undeposited funds. The accounts you select must have checking privileges.
If you want to change an account that AccountEdge has selected for you, click the search
icon next to that account and select an alternate account from the list that is displayed.
You can change your linked accounts later in the Accounts Receivable Linked Accounts
window (go to the Setup menu, choose Linked Accounts and then Receivable Accounts).
When you have finished, click Next.
Create customer cards
In this step, you'll enter information about each of your customers. MYOB AccountEdge
requires that you create a record for each customer, but you can choose to enter as little or
as much information as you like in these records.
1
Click the New button. The Card Information window is displayed.
2
Enter details about your customer. You don’t have to complete all the tabs in this
window at this time. You can fill in the Profile and Selling Details (see graphic below)
now and complete the others later through the Card File command center (see ‘To
make changes to a record’ on page 113). Click the Help button for detailed help on
creating a card.
A
B
C
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 credit limit and tax information are entered here.
C Credit terms
The credit terms you entered earlier appear here by default. You can override them
here for this customer.
3
User Guide
Click OK when you have finished, to return to the Sales Easy Setup Assistant. The card
you created will now appear in the Customer List.
29
Chapter 2 Setting Up Your Company File
Setting up Sales details
4
Repeat Step 1 - Step 3 for each customer card you want to create.
In this window of the Sales Easy Setup Assistant, you can also make changes to or delete
existing cards. If you've kept customer information in another software application, you
can import that information into AccountEdge. For detailed instructions on how to edit,
delete and import customer cards, click the Help button in this window. See also
“Importing Accounting Data” on page 213 for information about importing cards.
If you want to add customer cards, or make changes to or delete existing cards later, you can
do so from the Card File command center (see the Working with Lists chapter on page 109).
When you have finished, click Next.
Enter your historical sales
In MYOB AccountEdge, historical sales are sales you've made that haven't been paid in full,
as of the first day of your conversion month.
Click the Add Sale button to enter these historical transactions and the outstanding
amounts. For instructions on entering historical sales for your customers, click the Help
button in the Historical Sale window.
When you have finished, click Next.
Click Close to close the Sales Easy Setup Assistant. See the following section to set up your
purchase details.
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Chapter 2
Setting Up Your Company File
Setting up Purchase details
Setting up Purchase details
In the Purchases Easy Setup Assistant, you can set up your vendor information and other
information related to purchases. You'll find these steps very similar to those you completed
for your customers and sales.
Click the Purchases button in the Easy Setup Assistant window. Work your way through
the Purchases Easy Setup Assistant, entering the required information in the appropriate
windows. Click the Help button in any window for detailed information about that
window.
Set up a default layout
In the Layout window, choose the purchase layout that you expect to use most often. This
layout will be assigned to all new vendor cards but you can change the purchase layout for
your vendor at any time. Click Next.
Set up default buying details
Use this window to set default entries that will make creating new vendor records quicker.
Remember that you can change these selections for any of your vendors at any time. For
more information on using this window, click the Help button.
When you have finished, click Next.
Select a default tax code
If you are charged tax on purchases, select the tax code that is used most often by your
vendors in this window. Specify whether freight charges from most of your vendors are
taxable. Your selections here will appear as the default in the Buying Details view of new
vendor cards you create.
When you have finished, click Next.
Set up default credit terms
Enter the credit terms that your vendors generally extend to you. AccountEdge will use
these credit terms as the default when you create new vendor cards, but you can change
these terms any time. Click the Help button for more information.
When you have finished, click Next.
Set up the linked account for purchases
Specify the default account that will be used to pay bills from your vendors. If you want to
change the account that AccountEdge has selected for you, click the search icon next to the
account and select an alternate account from the list.
You can change your linked accounts later in the Accounts Payable Linked Accounts
window (go to the Setup menu, choose Linked Accounts and then Payable Accounts).
When you have finished, click Next.
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Chapter 2 Setting Up Your Company File
Setting up Purchase details
Create vendor cards
In this step, you'll enter information about each of your vendors. MYOB AccountEdge
requires that you create a record for each vendor, but you can choose to enter as little or as
much information as you like in these records.
1
Click the New button. The Card Information window is displayed.
2
Enter details about your vendor. You don’t have to complete all the tabs in this window
at this time. You can fill in the Profile and Buying Details (see graphic below) now and
complete the others later through the Card File command center (see ‘To make changes
to a record’ on page 113). Click the Help button for detailed help on creating a card.
A
B
C
A Buying
information
The selections you make here will be used by default on quotes, orders and
bills that you create for this vendor. You can override these selections when
recording the purchase.
B
Your credit limit with this vendor and the vendor’s tax information are entered
here.
Tax information
If you wish to report payments to vendors for inclusion on a 1099 statement,
select how you wish to report the payments by entering a category in the
Report Payments on 1099 as field. For more information about tracking
vendor payments on a 1099 statement, in the Learning Center, choose Card
File, click the topic Cards Overview and then Buying Details view (vendor cards).
If the Report Payments on 1099 as field is not available, this means that you
have not set up payroll yet (see ‘Setting up Payroll details’ on page 34). After
you have set up payroll, you can return to this window to set up the vendor
card to track payments on 1099 statements.
C Credit terms
The credit terms you entered earlier appear here by default. You can override
them here for this vendor.
3
Click OK when you have finished, to return to the Purchases Easy Setup Assistant. The
card you created will now appear in the Vendor List.
4
Repeat Step 1 - Step 3 for each vendor card you want to create.
In this window of the Purchases Easy Setup Assistant, you can also edit or delete existing
cards. If you've kept vendor information in a spreadsheet or another software application,
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Setting Up Your Company File
Setting up Purchase details
you can import that information into AccountEdge. For detailed instructions on how to
import, edit, and delete vendor cards, click the Help button in this window. See also
“Importing Accounting Data” on page 213 for more information on importing cards.
If you want to add vendor cards, make changes to or delete existing cards later, you can do
so from the Card File command center (see the Working with Lists chapter on page 109).
When you have finished creating your vendor list, click Next.
Enter your historical purchases
In AccountEdge, historical purchases are those purchases you've made that haven't been
paid in full, as of the first day of your conversion month.
Click the Add Purchase button to enter these historical transactions and the amount you
owe your vendors. For detailed instructions on how to enter historical purchases for your
vendors, click the Help button in the Historical Purchase window.
When you have finished, click Next.
Click Close to close the Purchases Easy Setup Assistant.
If you use the Payroll feature in AccountEdge, see the following section to set up your
payroll details.
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Chapter 2 Setting Up Your Company File
Setting up Payroll details
Setting up Payroll details
This section applies to you only if you are using the Payroll feature in MYOB AccountEdge.
You'll probably find that it takes you longer to set up your payroll information than it did to
set up your information in other areas of AccountEdge, particularly if you employ several
people. Your effort here will be rewarded on payday, though; if you've been calculating
paychecks manually, you'll find that these checks are much quicker and easier to calculate
in AccountEdge.
In the Payroll Easy Setup Assistant, you'll load your tax tables, review your payroll categories
and linked accounts, and enter details about your employees, their tax status and pay
history.
Click the Payroll button in the Easy Setup Assistant window. Work your way through the
Payroll Easy Setup Assistant, entering the required information in the appropriate windows.
Click the Help button in any window for detailed information about that step.
Load tax tables
You must load the payroll tax tables into the program when you first set up Payroll. The tax
tables contain the most recent payroll tax information and are provided with your software.
Click the Load Tax Tables button. Once the tax tables are loaded, click Next.
Enter and confirm the payroll year
Enter and confirm the current payroll year and click Next.
Set up general payroll information
Specify the number of hours in your company’s typical work week (not the hours in a pay
period). The number you enter here will be used as the default to calculate wages and payroll
payable amounts (such as tax) on paychecks. You can override this on the paycheck as
necessary.
Enter your Federal Tax ID number.
Enter your Federal Unemployment Tax Rate as a percentage.
Select the postal code of the state to which you pay State Unemployment Tax. Then enter
your State Tax ID number and your SUI Rate as a percentage.
Click Next when you have finished.
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Setting up Payroll details
Set up your default linked accounts
In the Linked Accounts window, review the linked account selections AccountEdge has
made for you.
•
•
•
•
Account for Writing Paychecks is the checking account you would usually use to
write your paychecks.
Account for Employer Expenses is the default account that is charged for your
employer expenses.
Account for Wages Paid is the default account that is charged for the gross wages
and salaries paid to employees. You can change this account for each employee in
the Employee Payroll Information window.
Account for Deductions and Expenses is the default account to which the
amounts withheld from the employee’s paycheck are allocated.
To change an account, click the search icon next to it and select another account from the
accounts list. You can change the linked accounts for individual payroll categories through
a payroll category’s Information window.
When you have finished, click Next to continue.
Review your payroll categories
A paycheck normally consists of five elements: wages, deductions, accruals, taxes and
employer expenses. Collectively, these elements are referred to as payroll categories. Before
you begin writing paychecks to employees, you'll create the payroll categories that are used
by your business and are required by law, and then you'll assign each employee the payroll
categories that apply to him or her. Then, when you use the Pay Employees window to pay
an employee, the payroll categories you've assigned to the employee will automatically
determine the various amounts that are associated with the paycheck.
AccountEdge provides you with a list of payroll categories that you can assign to your
employees later in the setup process. Select the category type, and then review the list to see
whether all the wages, deductions, accruals and expenses your company uses are included.
You can delete a payroll category you don’t need by highlighting it and clicking the Delete
<Payroll Category> button.
N O TE
You cannot delete or create a tax type If you select Taxes, you cannot delete an existing tax type or
create a new tax; you can, however, view the tax tables and change the linked payables account.
Review the payroll category details It’s a good idea to also review the details for each
wage, deduction, accrual and expense to make sure it matches the way you do business. To
do this, click the zoom arrow next to each category. The Information window for that
category is displayed. You can make changes to the information as required. For a detailed
description of each field in this window, click the Help button.
Creating a new payroll category You can create a new payroll category by selecting the
category type and then clicking the New <Payroll Category> button. The Information
window for the selected category is displayed. For information on creating this payroll
category, click the Help button. Also see ‘Creating Payroll Categories’ on page 128.
When you have finished, click Next.
User Guide
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Chapter 2 Setting Up Your Company File
Setting up Payroll details
Create employee cards
In the Employee Cards window, click the New button. The Card Information window is
displayed. Enter your employee details in the relevant tabs just as you did with customer
and vendor cards. You can click the Help button in each tab for help on creating an
employee card.
When completing the Payroll Details tab of the Card Information window, see ‘Entering
payroll information’ below for instructions.
Entering payroll information
It is very important that you set up an employee's payroll information completely before
you begin writing paychecks for that employee.
An employee’s payroll information is set up in the Payroll Details tab of the Card
Information window and in the Employee Payroll Information window. In the Payroll
Details tab, you are required to choose the Residence Code and Work Code that apply to
the employee. In the Employee Payroll Information window (accessed by clicking the
Info button in the Payroll Details tab), you are required to enter the employee’s pay details
such as the pay basis, salary and pay frequency, and to assign payroll categories to the
employee.
NOTE: It is very important that you enter payroll information correctly. If you don’t, your
employee’s pay and tax amounts will not be calculated correctly.
To enter payroll information
36
1
Click the Payroll Details tab in the Card Information window. The Payroll Details
view is displayed.
2
Enter the Residence Code and Work Code that applies to the employee.
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Setting Up Your Company File
Setting up Payroll details
Click the Info button. The Employee Payroll Information window is displayed. The
information you enter in this window is used to determine wages, deductions, accruals,
employer expenses and tax amounts for each employee, and helps calculate each pay
period's paycheck amounts.
A
B
C
D
E
F
G
H
A Wages Expense
Account
Enter the Wages Expense account. The linked account you selected earlier in the setup
appears here by default.
B Pay Basis
Enter the Pay Basis for the employee. Pay Basis (Salary or Hourly) determines whether
an employee is paid on the basis of number of hours worked or a fixed salary,
although a salaried employee may be given “overtime” or their wages on an hourly
basis. In this case, AccountEdge will calculate the equivalent hourly rate by the
following formula:
Base Salary (Hours in working week x 52).
C Hourly/Annual
Base Pay
Enter the employee’s Base Pay—annual or hourly, depending on their pay basis.
D Pay Frequency
Enter the employee’s pay frequency.
E Social Security
Number
Enter the employee’s Social Security Number.
F Birth Date
Enter the employee’s date of birth. MYOB AccountEdge calculates the employee’s age
and displays it below this field.
G Tax information
Enter the appropriate tax information for this employee in these fields.
H Payroll
Categories
Select all the payroll categories that apply to this employee by clicking in the Select
column. Your selections in this step are very important, because they are the key
components in determining the employee’s net pay amount. Be sure you carefully
select all the payroll categories that apply to this employee.
÷
CAUTION: If you make changes to a payroll category’s details from this window (by
clicking the zoom arrow next to a payroll category), these changes will affect ALL
employees this category has been assigned to.
4
After you have entered the employee’s pay details and assigned payroll categories, click
the History button in the Employee Payroll Information window.
The Pay History window is displayed. The Pay History window allows you to view
individual employees' wage, deduction, accrual and tax amounts, as well as the
User Guide
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Chapter 2 Setting Up Your Company File
Setting up Payroll details
employer expenses you've incurred for individual employees for the current and
previous month(s) of the current payroll year.
5
If you're starting to use Payroll after the first pay period of the payroll year, enter the
employee's pay history for the current payroll year up to the current date. You can enter
pay history for specific months or quarters.
CA UT I ON
Avoid editing pay history figures AccountEdge uses the figures displayed in the Pay History window
on some reports. If you change a card's pay history later in this window, keep in mind that the change
you make will be displayed on the reports but may not accurately reflect your actual totals.
6
Click OK when you have finished entering the employee’s pay history. The Employee
Payroll Information window is displayed.
7
Close the Employee Payroll Information window.
8
After you have finished creating the employee card, close the Card Information
window and return to the Payroll Easy Setup Assistant. The card you created will now
appear in the Employee List.
Continue creating your employee cards. As with customer and vendor cards, you can also
edit and delete existing employee cards; if you've kept employee information in a
spreadsheet or another software application, you can import that information into
AccountEdge.
For detailed instructions on how to import, edit and delete employee cards, click the Help
button. See also “Importing Accounting Data” on page 213 for more information on
importing cards.
If you want to add employee cards or make changes to or delete existing cards later, you can
do so from the Card File command center (see the Working with Lists chapter on page 109).
Click Close to close the Payroll Easy Setup Assistant. Then close the Easy Setup Assistant.
See the following section to set up your tax codes.
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Chapter 2
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Setting up Tax Codes
Setting up Tax Codes
If your business makes sales and purchases, you’re probably very familiar with the concept
of including tax on the transactions you conduct with your customers and vendors, and
you know how important it is to track these amounts carefully.
To help you keep on top of taxes, MYOB AccountEdge uses tax codes. Each tax code
represents a particular tax rate, which is used to calculate tax on your transactions. You’ll set
up taxes using the Tax Information window. Whenever you enter a sale or purchase that
should be taxed, you’ll mark the Tx column and choose a tax code from the Tax selection
list; the amount of the line item will be multiplied by the tax code’s tax rate.
You can assign tax codes to customers and vendors in their cards. These tax codes will
appear by default in invoices and purchase orders that you create for these customers or
vendors, saving you the trouble of selecting a tax code each time.
MYOB AccountEdge provides you with an extensive list of tax codes that can be used in a
variety of situations. In addition to this, you can also create all the tax codes your business
needs.
To create a tax code
1
Go to the Lists menu and choose Tax Codes. A list of all the tax codes that AccountEdge
has already set up for you is displayed.
2
Click New. The Tax Code Information window is displayed.
3
Complete the fields in this window. Click the Help button if you require detailed field
help.
A
B
A
Enter a three-digit code, description, rate and type. If you selected Consolidated as the
Tax Type, see page 40.
B
If the Tax Type is Sales Tax, specify the linked account for tax collected. If the Tax Type is
Import Duty, specify the linked account for accrued duty.
Specify a linked card if applicable.
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Chapter 2 Setting Up Your Company File
Setting up Tax Codes
Consolidated tax codes
MYOB AccountEdge gives you the flexibility of creating consolidated tax codes by
combining two or more tax codes. For example, the CST tax code (with a 8.25% tax rate) is
composed of CTY (City Sales Tax) at 4%, STE (State Sales Tax) at 4% and MET (Metropolitan
Tax) at 0.25%.
N O TE
You can only consolidate tax codes that are in your Tax Code List
first create the tax codes you want to consolidate.
40
Therefore, make sure you
MYOB AccountEdge, Version 2.0 us
Chapter 2
Setting Up Your Company File
Setting up Items
Setting up Items
See also
Inventory> Items
Overview in the
Learning Center.
In MYOB AccountEdge terms, the word item is used to describe:
•
•
A physical unit that your company may buy, sell and/or store.
A service that your company wants to include on item invoices. For example, you
could create items such as ‘Shipping,’ ‘Handling,’ and so on.
In accounting terms, your company’s items should usually be considered current assets.
There are three steps to setting up items:
•
•
•
Creating the items
Entering open stock on hand quantities
Entering the opening value of your stock items
To create an item
1
Go to the Inventory command center and click Items List. The Items List window is
displayed.
2
Click the New button. The Item Information window is displayed.
3
Enter a unique number in the Item Number field. You can use up to thirty numbers,
letters and symbols.
The backslash character (\) serves a special purpose in MYOB AccountEdge—any item
number that begins with a backslash can be included on sales and purchase forms, but
it won’t appear on printed forms.
4
Enter the name of the new item in the Name field using up to thirty characters.
TIP
Copy From button Click the Copy From button to copy another item’s information to this item
record. From the displayed list, choose the item whose information you want to copy. All information for
that item will be copied to the current item record except the item number, item name, vendor item
number, auto-build information and history information.
5
Specify whether you buy, sell and/or inventory this item by marking the relevant
checkbox(es).The table on the following page should give you an idea of which
checkboxes you should mark.
CA UT I ON
Make your selections carefully If you mark the I Inventory This Item checkbox for an item, use the
item in a transaction, and then try to clear this checkbox, you will not be allowed to do so.
User Guide
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Chapter 2 Setting Up Your Company File
Setting up Items
Mark
For these items
I Buy this Item
Non-inventory items that you want to order in the Purchases window.
I Buy this Item
You’re a broker or middle man moving goods or services.
I Sell this Item
If you allocate a purchase of this item to a job, you can then create a reimbursement
invoice using the selling information you enter here.
I Buy this Item
This is a normal inventoried item.
I Sell this Item
I Inventory this Item
I Sell this Item
This is a normal service item, useful for salespeople who bill their commissions, or
those who provide a service and bill for their time.
I Sell this Item
I Inventory this Item
Finished goods, if you manufacture something using other items that you
inventory.
I Buy this Item
Raw material that you inventory and use to build other items.
I Inventory this Item
I Inventory this Item
6
42
Intermediate goods in the process. Parts used to manufacture finished goods.
When you marked the checkboxes in the previous step, you may have noticed the fields
that appeared next to these checkboxes. Enter the appropriate account numbers (or
names) in these fields.
• In the Cost of Sales Account field, enter the account you want to use to track the
costs associated with selling this item.
• In the Income Account for Tracking Sales field, enter the account you want to use
to track the income you receive from the sale of this item.
• In the Asset Account for Item Inventory field, enter the account you want to use to
track the total value of this item.
• In the Expense Account for Tracking Costs field, enter the account you want to use
to track costs associated with purchasing this non-inventoried item.
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Setting Up Your Company File
Setting up Items
Click the Buying Details tab. The Buying Details view of the Item Information
window is displayed.
A
B
C
E
F
G
H
D
A Last Purchase
Price
The last purchase price you paid for the item (excluding tax) is displayed in this field.
B Buying Unit of
Measure
Enter the unit of measure (such as ‘each,’ ‘gross,’ or ‘case’) by which you purchase the
item. The buying unit is printed on the item purchase order. If, for example, you buy
eggs by the carton (a dozen), when you order five units in a purchase, you’re ordering
five cartons. It is very important that you set up your buying units correctly.
C Number of
Items per
Buying Unit
Enter the number of items that comprise a single buying unit. This is the number
AccountEdge adds to your on-hand inventory for every buying unit. For example, if
you buy eggs by the carton (a dozen) and want to track their purchase individually,
enter twelve as the number of items per buying unit. When you order one carton,
AccountEdge updates your item inventory by twelve items.
D I Pay Sales Tax
Mark this checkbox if you pay sales tax when you purchase this item.
If you leave this field blank, AccountEdge defaults to one.
E Minimum Level Enter the minimum level of this item you want to keep in stock. When you reach this
for Restocking
level, a reorder reminder appears in the To Do List.
Alert
F Primary Vendor
for Reorders
Enter the vendor from whom you usually purchase this item.
G Vendor Item
Number
Enter the vendor’s number for the item.
H Default Reorder Enter a re-order level quantity for the item here. If you have set a minimum level for
Quantity
Restocking Alert, you can create an order for the items easily, using the Stock tab in
the To Do List. The default quantity showing on the order will be taken from this field.
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Chapter 2 Setting Up Your Company File
Setting up Items
8
Click the Selling Details tab. The Selling Details view of the Item Information
window is displayed.
A
B
C
D
E
A Base Selling
Price
Enter the retail price of one selling unit in this field.
B Selling Unit
of Measure
Enter the selling unit of the item in this field, such as ‘each,’ ‘gross,’ or ‘case.’ You can
enter up to five characters. The selling unit is printed on the item invoice. If, for example,
you sell by the six-pack, when you sell five units, you will be selling five six-packs. It is very
important that you set up your selling units correctly.
C Number of
Items per
Selling Unit
Enter the number of items that comprise a single unit in this field. This is the number
AccountEdge subtracts from your on-hand inventory for every selling unit. For example,
if you sell by the six-pack, enter six as the number of items per selling unit. When you sell
one six-pack, AccountEdge reduces your item inventory by six items.
If you leave this field blank, AccountEdge defaults to one.
D Pricing
Levels
You can set pricing levels for different kinds of customers. See “Creating custom price
levels” on page 105.
E I Collect
Sales Tax
Mark this checkbox if you collect sales tax when you sell this item.
9
Click the Items Details tab.
You can enter additional information about the item in this window. For information
about adding a picture, see “Linking a picture to a record” on page 221. For information
about creating custom lists and fields, see “Creating custom fields” and “Creating
custom lists” on page 107.
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Setting up Items
Enter opening stock on hand quantities and values
Once you have created your inventory items, you need to enter quantities on hand as at
your conversion date and their values. This is done in the Count Inventory window.
The Count Inventory window is also used to routinely adjust the quantities of your
inventoried items (due to theft, spoilage, etc.) recorded in AccountEdge so they match the
actual quantities you have in stock.
1
Go to the Inventory command center and click Count Inventory. The Count
Inventory window is displayed.
This window lists all the items and their on-hand quantities currently on record in
AccountEdge. This quantity is in inventory units, not buying units or selling units. For
example, say you buy soft drink by the six-pack and inventory it by the can; a quantity
of 24 in the On Hand column means you have twenty four cans in inventory, rather
than twenty four six-packs.
N O TE
Print the Inventory Count Sheet You can print out the Inventory Count Sheet (which is a list of all
your items) by clicking the Print button in the Count Inventory window. Enter your quantities on these
stock sheets; then you can enter them easily in the Count Inventory window.
2
Enter the quantity counted in the Counted column for each item. Zeros appear in the
On Hand column because AccountEdge has no record of any of your items yet. The
Difference column will change to reflect the difference between the On Hand column
and the Counted column.
3
Click the Adjust Inventory button when you have entered all your item quantities. The
Default Expense Account window is displayed.
4
Click Continue to indicate to AccountEdge that you are making an opening adjustment
to your inventory asset account. The Opening Balance Check window is displayed,
informing you that AccountEdge has noticed that some of your on-hand inventory
quantities are zero.
5
Click the Opening Balances button.
6
Click the Adjust Balances button to adjust the balances of your inventory asset account
to match the inventory values. (If you have already entered opening balances for your
inventory asset account, click Continue instead.) The Adjust Inventory window is
displayed.
The Adjust Inventory window shows an adjusting entry in the scrolling list for each
item you entered a quantity in the Counted column of the Count Inventory window.
7
Make any changes to the default entries in the Inventory Journal Number, Date and
Memo fields.
8
Enter the unit cost of each item (enter how much a single unit of each item cost you, not
how much you’re selling it for).
Do not change the account number in the Account column.
9
Click Record. AccountEdge will update the value of each item in the scrolling list.
You can print the Items List (Summary) report to check your inventory status. For more
information on printing reports, see the Using Reports chapter on page 175.
User Guide
45
Chapter 2 Setting Up Your Company File
Setting up your Bank Accounts
Setting up your Bank Accounts
To ensure the accuracy of your business records, you should keep the record of your bank
account balances in AccountEdge matched up with your bank’s records. This task is called
reconciling accounts.
Reconciling your accounts for the first time
When you prepare to reconcile an account for the first time in AccountEdge, you may
notice some of the checks you wrote and some of the deposits you made before you began
using AccountEdge appearing on your bank statement. In order to reconcile the account,
these transactions must also appear in the Reconcile Accounts window in AccountEdge.
However, as you conducted the transactions before you began using AccountEdge, there
will be no record of these transactions in AccountEdge. This situation must be resolved
before you can reconcile the checking account.
To resolve the situation, you'll create a General Journal entry. Each uncleared check and
uncleared deposit you conducted before using AccountEdge should be entered as line items
on a General Journal entry. When you're ready to reconcile the checking account, each line
of the General Journal entry will appear in the Reconcile Accounts window.
To reconcile your account for the first time
1
Go to the Accounts command center and click Record Journal Entry. The Record
Journal Entry window is displayed.
2
Enter your checking account in the Account column and create a General Journal entry
for the checking account, with a separate debit for each deposit that hasn't cleared yet
and a separate credit for each check that hasn't cleared yet.
It's unlikely that the debits will equal the credits in the Record Journal Entry window.
If the Out of Balance field underneath the scrolling list shows an amount, you'll need
to enter another line item with an amount that balances the debits and credits.
46
3
Record the General Journal entry.
4
Go to the Banking command center and click Reconcile Accounts. The Reconcile
Accounts window is displayed.
5
Enter the account you want to reconcile in the Account field. The individual line items
in the General Journal entry you just created (and any checks and deposits that you may
have entered) appear in the scrolling list in the middle of the window.
6
Enter the ending balance on the statement that your bank sent you in the New
Statement Balance field.
7
Enter the closing date that appears on your bank statement in the Bank Statement
Date field. Only transactions dated on or before that date will appear in the scrolling
list.
8
Mark all the checks and deposits that are on your bank statement by clicking in the
column on the left; also mark the balancing amount entry you created in Step 2.
9
Click the Reconcile button. Your account should now reconcile. Click the Reconcile
button again to complete the reconciliation process.
MYOB AccountEdge, Version 2.0 us
Chapter 2
Setting Up Your Company File
Setting up Jobs
Setting up Jobs
See also
Accounts> Jobs
Overview in the
Learning Center.
You can use MYOB AccountEdge to keep an accurate and detailed record of your jobs and
profit centers. Specific job-tracking tasks you can accomplish include:
•
•
•
•
•
•
•
Organize jobs in a hierarchy
Set account-by-account budgets for each job
Link jobs to specific customers
Assign individual line items on transactions to jobs
Track reimbursable expenses for your jobs
Prepare reimbursement sales with markup
Extensively analyze profit and loss for a job
To create a job
1
Go to the Lists menu and choose Jobs. The Jobs List window is displayed.
2
Click the New button. The Job Information window is displayed.
3
Specify whether this is a Detail or Header job. Choose:
Detail Job (Postable) if you want to assign transactions to this job throughout
AccountEdge.
• Header Job (Non-Postable) if you don’t want to assign transactions to this job, but
want to use it as a header for a group of Detail jobs. The Header job will display the
totals of the Detail jobs in the Jobs List window.
•
User Guide
4
Enter information about the job, such as a job number, name, description and start date.
For detailed field help, click the Help button.
5
Click OK.
47
Chapter 2 Setting Up Your Company File
Setting up Jobs
To change the level of a job
If you want to change the level of a job in your Jobs List in order to change its hierarchy, you
can do so later from the Jobs List window (go to the Lists menu and click Jobs). For
instructions on changing job levels, in the Learning Center choose Accounts> Jobs and click
the topic Changing job levels.
To enter job opening balances
If you started using AccountEdge while a particular job was in progress, you can create the
job in AccountEdge, and then enter any account activity generated by the job so far in the
Job Opening Balances window.
You can only enter opening balances for Detail jobs. Header jobs take their balances from
the Details jobs below them.
1
Go to the Setup menu, choose Balances and then Job Opening Balances. The Job
Opening Balances window is displayed.
2
Enter the job number of the job for which you want to enter an opening balance, or
click the search icon to select a job from the list.
3
Enter any opening balances for the job in the Opening Balances column.
4
Repeat Steps 2 and 3 for each job for which you want to enter opening balances.
5
Click OK when you have finished.
To enter budget amounts for jobs
You can enter budget amounts for every Detail job in the MYOB AccountEdge system. 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 assigned to accounts in your Accounts List for comparison purposes; once
you begin recording transactions for the job, you'll be able to print the Jobs (Budget
Analysis) report to see a comparison of the actual amounts and the amounts you've
budgeted for the job.
1
Go to the Lists menu and choose Jobs. The Jobs List window is displayed.
2
Highlight the Detail job for which you want to enter budgets.
3
Click the Budgets button. The Job Budgets by Account window is displayed, with the
the number of the job you selected in the Job Number field.
All of your company's income, cost of sales, expense, other income and other expense
accounts appear in the scrolling list.
4
48
Enter the amounts you've budgeted for specific accounts for this job in the Budgets
column and click OK.
MYOB AccountEdge, Version 2.0 us
CHAPTER
3
Receiving and Spending
Money
We all receive and spend money. Now, instead of just receiving and spending by check and
cash, many of the transactions we make are by electronic transfer. These transfers can be
made via the Internet, through ATMs and over the phone.
MYOB AccountEdge is packed with features to help you track all these transactions. It
doesn’t matter if you are transferring money from one account to another, or spending or
receiving money—it’s easy in AccountEdge.
This chapter shows you how to record the checks you have written, the checks you have
received, your credit card purchases, your credit card payments, and your ATM and
Internet withdrawals and transfers.
This chapter also shows you how to use the versatile Bank Register to enter transactions
on-the-fly for your checking and credit card accounts. The Bank Register lets you record
checks and deposits, pay bills, receive payments and enter sales and purchases all from
one location. And if you have online banking, you can import your downloaded bank and
credit card statements into AccountEdge via the Bank Register and speed up transaction
entry and account reconciliation.
MYOB AccountEdge can handle as many checking and credit card accounts as you like and
allocate them to as many accounts as you like. If you are used to a manual multi-column
cashbook system, you can think of AccountEdge as having the capacity to run multiple
cashbooks with an infinite number of columns.
As you read on, you’ll see that you need to be aware of which check or credit card you are
tracking, and which account is being affected by the transaction. For example, if you wrote
a check to the Phone Company, you would use your checking account and allocate the
transaction to the phone account. If you paid the Phone Company by credit card, you
would use your credit card account and still allocate the transaction to the phone account.
Simply record where the money is coming from and where it is going; AccountEdge will
do the rest.
49
Chapter 3 Receiving and Spending Money
Receiving Money
Receiving Money
See also
Banking>
Receive Money
Overview in the
Learning Center.
The deposits you enter in the Banking command center can serve any cash-receipts
purpose you want in MYOB AccountEdge. In most cases, they will reflect actual payments
to a bank that will increase your bank account balance. You could select a petty cash
account, however, if you wanted to replenish your petty cash on hand amount. Deposits are
usually recorded in the Receive Money window.
Recording deposits in the Bank Register You can use the Bank Register if you wish to
quickly record a batch of deposits and don’t need to record details of each deposit or
allocate them to multiple accounts. See “Entering Transactions in the Bank Register” on
page 55.
To record a deposit
1
2
Go to the Banking command center and click Receive Money. The Receive Money
window is displayed.
Choose one of the following:
Deposit to account. Choose this option if you want the deposit recorded directly in
an account. Specify the account by clicking the search icon and making a selection
from the checking accounts that you’ve set up.
• Group with undeposited funds. Choose this option if you want the deposit to be
recorded in the undeposited funds account (and not in a checking account). After
you’ve grouped all the deposit transactions you want, you can then make a bank
deposit. For more information, see “Preparing a Bank Deposit” on page 52.
•
3
Enter the payor. Click the search icon to select a card from the Cards List.
4
Enter the amount received.
5
Enter the payment method. Click the Details button 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 expiration date.
6
Enter the date of the deposit and a detailed comment to help you identify the deposit
later.
7
Allocate the amount to the proper account(s).
A
50
B
C
A
Enter the account(s) to which you want to assign the deposit in this column. Click the
search icon to view the Accounts List.
B
Enter the amount you want to assign to each account here. The total amount in this
column must equal the amount in the Amount Received field before you can record the
transaction.
C
Assign the amount to a job by entering the job code here (optional).
MYOB AccountEdge, Version 2.0 us
Chapter 3
8
Decide what you want to do with the deposit.
•
•
User Guide
Receiving and Spending Money
Receiving Money
To record the deposit, click the Record button.
To store the deposit as a recurring deposit so that you can use it many times in the
future, click the Save Recurring button. In the Save Recurring Template window,
enter the necessary information and click the Save Template button. (See “Working
with Recurring Transactions” on page 124 for more information about creating and
using recurring deposits.)
If you want to record the deposit as an actual transaction now, click the Record
button in the Receive Money window. If you don’t want to record the deposit at this
time, click the Cancel button.
51
Chapter 3 Receiving and Spending Money
Preparing a Bank Deposit
Preparing a Bank Deposit
See also
Banking>
Receive Money
Overview> Preparing
a bank deposit of
undeposited funds
transactions, in the
Learning Center.
If you use the Undeposited Funds account to group payments from customers and other
funds you receive, you can use the Prepare Bank Deposit window to create a batch bank
deposit that will transfer funds from the undeposited funds account to the account of your
choice as a single transaction. Undeposited funds dated up to and including the date you
specify in the Prepare Bank Deposit window will be displayed. You have the option of
grouping the receipts by payment method.
To prepare a bank deposit
52
1
Go to the Banking command center and click Prepare Bank Deposit. The Prepare
Bank Deposit window is displayed.
2
In the Deposit to Account field, enter the account into which the funds selected in the
Prepare Bank Deposit window will be deposited.
3
If you want to group payments by payment method, click the Select Receipts by down
arrow and choose Payment Method. Specify the payment method in the adjacent field,
for example Visa. Only payments made using that method are listed.
4
Enter a date to display undeposited funds up to and including that date.
5
Use the Memo field to record the purpose of the transaction. We recommend that you
make a detailed comment so you’ll be able to identify the transaction when you review
your records later on.
6
Select the receipts you want to include on the bank deposit by marking the Deposit
column.
7
Click Record.
MYOB AccountEdge, Version 2.0 us
Chapter 3
Receiving and Spending Money
Spending Money
Spending Money
See also
Banking> Spend
Money Overview in
the Learning Center.
In MYOB AccountEdge, checks are transactions that affect your company’s checking
accounts, credit card accounts, petty cash accounts and other cash accounts. Checks are
usually recorded in the Spend Money window.
Recording checks in the Bank Register You can use the Bank Register if you need to
quickly record several checks and don’t need to record details of each check or allocate
them to multiple accounts. See “Entering Transactions in the Bank Register” on page 55.
To write a check
1
Go to the Banking command center and click Spend Money. The Spend Money
window is displayed.
2
Click the search icon next to the Account field and select the credit card, check or other
bank account that will be used for this check.
3
Fill in the information in the check area of the window, just as you would if you were
writing a paper check. Enter the Payee card, check number, amount, memo, etc. Click
the Help button for detailed field help.
If you want to change the default address displayed in the Payee field, click the down
arrow and make a selection.
4
Allocate the check to the correct account(s).
A
User Guide
B
C
A
Enter the account(s) to which you want to assign the check amount in this column.
Click the search icon to display the Accounts List.
B
Enter the allocation amount here.
C
Assign the check amount to a job by entering the job code here (optional).
53
Chapter 3 Receiving and Spending Money
Spending Money
5
Decide what you want to do with the check.
•
•
•
54
To print and record the check, click the Print button.
To record the check, click the Record button. If you want to print this check later,
you can do so from the Print Checks window. This window allows you to customize
your checks and print them as a batch. For more information, see the Printing Forms
chapter on page 163.
To store the check as a recurring check so that you can use it many times in the
future, click the Save Recurring button. In the Save Recurring Template window,
enter the necessary information and click the Save Template button. (For more
information about saving and using recurring checks, see “Working with Recurring
Transactions” on page 124.)
If you want to record the check as an actual transaction now, click the Record
button in the Spend Money window. If you don’t want to record the check at this
time, click the Cancel button.
MYOB AccountEdge, Version 2.0 us
Chapter 3 Receiving and Spending Money
Entering Transactions in the Bank Register
Entering Transactions in the Bank Register
The Bank Register allows you to quickly and efficiently enter all your transactions for asset
accounts with checking privileges and liability accounts with credit card privileges from
one window. For example, you can enter the following transactions in the Bank Register:
checks, deposits, payments to vendors, payments from customers, sales and purchases.
The main advantages of using the Bank Register to enter transactions (over using
transaction windows such as Spend Money and Pay Bills) are speed and convenience. You
can record a customer payment, pay a bill and then write a check— without having to open
multiple windows and switch between them. And as transactions can be recorded with
minimum detail, you save valuable time when entering a batch of transactions.
The disadvantage of using the Bank Register is that you cannot conveniently enter
additional information about a transaction such as finance charges and discounts or change
details such as the tax amount and payment method. You also cannot easily allocate an
amount to multiple accounts or apply payments to a particular invoice or bill. (If you want
to do this, you can use the Split button in the Bank Register to display the corresponding
transaction window and continue with the rest of the transaction entry in that window.)
Importing your online bank and credit card statements using the Bank Register You can
also use the Bank Register to import your bank and credit card statements into MYOB
AccountEdge. If a statement contains any transactions that you have not entered into
AccountEdge, you can add them quickly using the Bank Register. For more information,
see “Importing Statements into MYOB AccountEdge” on page 57.
To enter a transaction in the Bank Register
1
Go to the Banking command center and choose Bank Register. The Bank Register
window is displayed.
2
In the Account field, specify the checking or credit card account that will be used for
this transaction.
3
Choose the type of transaction from the Type drop-down list.
4
Enter the ID or check number and the date of the transaction.
5
Enter the name of the card for whom this transaction is intended or click the search
icon and select a card from the Cards List.
6
Enter the total amount of the transaction including tax.
N O TE
Overpayments to vendor If this is a vendor payment and you are overpaying them, an Out of
Balance message will be displayed when you record the transaction. Click the Split button to open the
source window and apply the overpayment.
User Guide
55
Chapter 3 Receiving and Spending Money
Entering Transactions in the Bank Register
N O TE
Payment Method If you selected the Receive Money, Enter Sale, Receive Payment or Enter Payment
transaction type, note that the payment method and details used are the ones you assigned to the
customer in the Payment Details view of the Card Information window. If no default payment method
was assigned to the selected customer, no payment method is assigned to this transaction. If you want to
change or specify a payment method, click the Split button, enter the payment details in the source
window and then record the transaction. If the transaction type is Enter Sale, the Split button is not
available; you will need to record the transaction, then click the zoom arrow next to the transaction in
the Bank Register’s transaction history list to open the source window.
7
For all transactions (except customer and vendor payments) enter the allocation
account.
If the transaction requires more than one allocation account If you need to allocate
the amount to more than one account or the payment to more than one invoice or bill,
click the Split button. The source window for this type of transaction is displayed.
Continue entering the rest of the transaction from this window. Click the Record
button when you have finished. Notice that the transaction that you just recorded
appears in the scrolling list of the Bank Register. You can now begin entering another
transaction in the Bank Register.
Note that the Split
button is not
available for Sales
and Purchases.
8
Choose what you want to do with the transaction.
•
•
56
To record the transaction, click the Record button.
To store the transaction as a recurring transaction so that you can use it many
times in the future, click the Save Recurring button. In the Save Recurring
Template window, enter the necessary information and click the Save Template
button. (Note that this option is available only for some transaction types.) For more
information about saving and using recurring transactions, see “Working with
Recurring Transactions” on page 124.
MYOB AccountEdge, Version 2.0 us
Chapter 3 Receiving and Spending Money
Importing Statements into MYOB AccountEdge
Importing Statements into MYOB AccountEdge
While some businesses record their transactions in MYOB AccountEdge as they are made,
others prefer to leave them till the end of the month and enter them all at once.
Regardless of how you choose to do it, AccountEdge makes transaction entry and account
reconciliation really simple.
If you have online banking, this process is made even simpler by the Get Statement feature in
AccountEdge. Bank or credit card statement files that you have downloaded to your
computer can be imported into AccountEdge simply by clicking the Get Statement button
in the Bank Register or the Reconcile Accounts window. AccountEdge will then
automatically match transactions on your statement with the transactions you entered in
your company file. Matched transactions will be marked as cleared for reconciliation,
making it really easy to reconcile your account at month-end.
If AccountEdge cannot find a match, you have the option of matching the transactions
manually with uncleared transactions in AccountEdge, adding them to AccountEdge or
skipping them altogether.
Download your statement Before you import your bank or credit card statement into
AccountEdge, you will need to download the statement file from your bank. Your bank’s
website should provide instructions on downloading this file. The following file formats are
supported by MYOB AccountEdge: OFX, QFX, QIF and OFC. Make sure you save the bank
file in one of these formats.
To import your statement
If you are importing
your statement from
the Reconcile
Accounts window,
click the Get
Statement button in
the Reconcile
Accounts window.
User Guide
1
Go to the Banking command center and click Bank Register. The Bank Register
window is displayed.
2
Enter the account in the Account field.
3
Click the Get Statement button. The Open dialog box is displayed.
4
Locate and select the statement file that you downloaded.
57
Chapter 3 Receiving and Spending Money
Importing Statements into MYOB AccountEdge
5
Click Open.
AccountEdge will automatically match the transactions in your statement with the
transactions in your company file, using the check number and amount as the criteria
for matching checks and the amount as the criterion for matching deposits. If:
•
•
6
there are any unmatched transactions, the Unmatched Statement Transactions
window is displayed. Go to Step 6.
all your transactions match, that’s it! These transactions will be marked as cleared in
the Reconcile Accounts window.
Choose what you want to do with the unmatched transactions.
•
•
If you want to match a transaction, highlight that transaction and click the Match
Transaction button. The Match Transaction window is displayed, 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. Repeat this step for each transaction that
you want to match.
If you want to add a transaction to your company file, highlight the transaction
and click the Add Transaction button. The Spend Money window or the Receive
Money window (depending upon the type of transaction you are adding) will be
displayed. Enter the details of the transaction and record it. The transaction will be
marked as cleared. Repeat this step for each transaction you want to add to
AccountEdge.
CA UT I ON
Match or add all transactions We recommend you finish adding or matching every transaction in
the unmatched transaction list before you click the Done button. If you open the statement file again, the
original unmatched statement list reappears.
7
58
When you have finished matching and adding transactions, click Done. Any
transactions that were not matched are skipped. A list of all the transactions that were
cleared are displayed.
MYOB AccountEdge, Version 2.0 us
Chapter 3
Receiving and Spending Money
Tracking Credit Card Purchases
Tracking Credit Card Purchases
The following procedures show you how to track purchases you make with your company’s
credit cards, using the Spend Money window. You can also use the Bank Register for this
purpose (for more information, see ‘Entering Transactions in the Bank Register’ on
page 55).
To record purchases made with a company credit card
Before you begin recording credit card purchases, make sure you create a liability account
such as Visa or American Express to track the amount owed to each credit card provider. For
information on creating an account, see “To add new accounts to your Accounts List” on
page 111.
1
Go to the Banking command center and click Spend Money. The Spend Money
window is displayed.
2
Click the search icon next to the Account field and select the credit card account you
want to use.
3
Enter the date, amount of the credit card purchase, payee and memo.
4
In the scrolling list area of the Spend Money window, enter the allocation account you
want to use. This is usually an expense account.
5
Click Record to record the credit card purchase.
To record credit card payments
User Guide
1
Go to the Banking command center and click Spend Money. The Spend Money
window is displayed.
2
Enter the checking account that you are using to make this payment in the Account
field.
3
Enter the credit card company’s name in the Payee field.
4
Enter the amount you paid.
5
In the scrolling list area of the Spend Money window, enter the liability account you’ve
created to track purchases made with this credit card.
6
Record the transaction.
59
Chapter 3 Receiving and Spending Money
Recording Miscellaneous Transactions
Recording Miscellaneous Transactions
To void a check number
You may want to void a check for any number of reasons. You may, for example, find that
one of your check forms is damaged and not usable for printing or that you have made a
mistake when writing the check manually.
Follow the steps below to void a check that you have not recorded in AccountEdge. If you
want to make changes to a check you have already recorded in AccountEdge, see “Changing
a transaction” on page 121.
1
Use the Spend Money window to create a check as you normally do. However, do not
enter an amount in the Amount field. There is also no need to assign allocation
accounts.
2
Enter the check number you want to void in the Check No. field.
3
Click Record and then confirm that you want to void the check.
To record ATM Withdrawals and Transfers
1
Display the Spend Money window and choose the account from which you will
withdraw the amount.
2
In the Check No. field, enter a non-numeric word or phrase to describe the withdrawal.
That way, you’ll know the transaction isn’t an actual check when you view it in a list or on a
report. This will also allow you to skip the transaction when you print a range of numbered
checks.
3
Complete the other fields in the window as normal.
4
Click Record to record the transaction.
To record Internet/phone banking withdrawals and transfers
1
Display the Spend Money window and choose the account from which you will
withdraw the amount.
N O TE
Vendor Payments If you are entering a payment to a vendor for a recorded purchase, you should
enter it in the Pay Bills window. See “Paying Bills” on page 91.
You can set up a
vendor card for
Internet or phone
banking and record
your customer
reference number in
the Custom field.
60
2
In the Check No. field, enter a non-numeric word or phrase to describe the withdrawal.
That way, you’ll know the transaction isn’t an actual check when you view it in a list or on a
report. This will also allow you to skip the transaction when you print a range of numbered
checks.
3
Link the transaction to a card if you want.
4
Complete the other fields in the window as normal.
5
Enter the receipt number in the Memo field and record the transaction.
MYOB AccountEdge, Version 2.0 us
CHAPTER
4
Entering Sales and
Payments
Where would your business be without sales? All businesses need sales to make a profit,
but to survive in a competitive environment you need to be informed as to what’s selling,
how long your customers are taking to pay you, and how successful your marketing has
been at generating sales.
MYOB AccountEdge will help you take control of your sales and customers. As well as
handling all your accounting requirements, MYOB AccountEdge’s ability to handle quotes,
orders and invoices, and its reporting features are designed to help you and your
salespeople make sales.
For example, you can use MYOB AccountEdge to help you prepare quotes for your
customers, then a week later, contact your customers, bring up a list of the quotes you
have given, and turn the quotes into orders. When the goods are shipped, you can turn
the orders into invoices, print your customized packing slips, and e-mail or print your fully
customized invoices. If the need arises, you can follow up the invoices with fully
customized statements.
You can use AccountEdge’s powerful sales tracking features to find out who is buying
what, when and from which salesperson. You can use AccountEdge to find out who owes
you money, how much and what for. If your customized statement fails to get a response,
you can use the powerful mail merge facilities to send a personalized reminder letter.
Handling customer payments couldn’t be easier. Payments—including under and
overpayments—can be deposited to any of your checking or credit card accounts.
Customer returns can be easily applied to open invoices or, if the need arises, payments
can be returned to your customers.
61
Chapter 4 Entering Sales and Payments
Entering Sales
Entering Sales
See also Sales>
Sales Overview
in the Learning
Center.
You can enter a sales transaction as a Quote, Order or Invoice.
•
•
•
You can enter a quote in MYOB AccountEdge to provide an estimate or sales quote
to a customer without creating a transaction. 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.
An order (previously called a pending sale in MYOB AccountEdge) is a sale where no
service or goods have been delivered. While orders don’t affect your financial
numbers, they do affect your committed inventory numbers in the Analyze
Inventory window and reports. Orders don’t create a transaction in MYOB
AccountEdge unless the customer has paid you a deposit.
An invoice is usually created when you have delivered the items or services the
customer ordered and can expect payment from the customer. It will update the
appropriate accounts, including the account for tracking receivables. Invoices can be
open, closed or credits. An invoice can’t be changed to a quote or an order.
Entering sales in the Bank Register
While sales are usually recorded in the Sales window, miscellaneous one-time sales that
have been paid for can be recorded in the Bank Register. The advantage of using the Bank
Register for this type of sale is that you can quickly record the transaction with minimum
detail. The Miscellaneous sale layout is used by default for sales entered in the Bank
Register. The payment method entered in the customer’s card is used as the default. For
more information, see “Entering Transactions in the Bank Register” on page 55.
To enter a sales transaction, you’ll complete the following steps:
•
•
•
•
•
Choose the type of sale you want
Enter information about the customer
Enter the line items—the items or services you are selling
Enter additional information about the sale
Complete the sale
Step 1 – Choose the type of sale you want
Choose the status and layout for the transaction you are creating. The layout displayed in
the Sales window is determined by the default you selected when setting up sales details
(using the Sales Easy Setup Assistant) or in the customer’s card.
62
1
Go to the Sales command center and choose Enter Sales. The Sales window is
displayed.
2
Choose the status from the pop-up menu in the upper left corner of the window.
3
If you want to change the layout, click the Layout button. The Select Layout window is
displayed.
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Entering Sales and Payments
Entering Sales
Choose the layout (Service, Item, Professional, Time Billing or Miscellaneous) you
want to use and click OK.
Note that the Miscellaneous layout is used only for adjustments and other sales that will
not be printed.
Step 2 – Enter information about the customer
The information you enter in the top section of the Sales window will determine a number
of things about the sale, including the customer’s terms for the sale and the identification
numbers assigned to the transaction.
A
B
C
D
A
Enter the customer’s name. Click the search icon to display your customer list.
B
Click the zoom arrow to alter the credit terms for this sale only. See the following section.
C
Enter the invoice number here.
D
If the customer gave you a purchase order for this transaction, enter that purchase order number
here.
To change the customer’s credit terms for this transaction
When you enter a customer’s name in the Customer field, the terms you’ve assigned to the
customer appear next to the customer’s name automatically. If you want to change these
terms for this particular transaction, follow the steps below.
N O TE
Any changes you make using this procedure will affect only the transaction you’re currently
entering. If you want to change the credit terms that will be used for all future sales to this customer,
you should make that change in the Selling Details tab of the customer’s card.
1
Click the zoom arrow next to the Terms field. The Credit Terms window is displayed.
Information about the terms for the transaction is displayed in the window.
2
Make the necessary changes in the Credit Terms window and then click OK to close the
window. The Sales window is displayed again, with the new credit terms appearing next
to the Terms field.
Step 3 – Enter the items or services you’re 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’ll enter item numbers, activity ID numbers, descriptions,
account numbers (or names depending upon your selection in the Preferences window)
and various other information that will serve as the detail for your transaction.
When you enter information in one row in the scrolling list, you enter one line item of the
transaction. You can enter as many line items on a sale as you want.
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Chapter 4 Entering Sales and Payments
Entering Sales
The actual fields that appear in the scrolling list differ, depending upon the type of sale
you’re creating. The following illustrations briefly describe the line item entries you can
make for each type of sale in the Sales window; click the Help button for a detailed
description of the line items’ columns.
N O TE
Add lines, subtotals and headers to invoices You can add lines, headers and subtotals to invoices
to make it easy to separate and subtotal different categories of sales in one invoice. For more information,
see “Adding lines, subtotals and headers to invoices” on page 66.
Item sale
A
B
C
D
E
F
G
H
I
Service
sale
J
K
A Ship
Enter the quantity (of the item) to be delivered.
B Backorder
Enter 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 choose an item from your item list.
D Description
A description of the item is displayed automatically. You can change this if you want.
E Price
The price of the item is displayed automatically. You can change this if you want.
F
Enter a discount as a percentage.
Discount
G Total
The total price of the items is calculated automatically.
H Job
Enter a job number here to assign a line item to a specific job (optional). For more information
about jobs, see “Setting up Jobs” on page 47.
I
Tx
Mark the Tx column if the line item is taxable.
J
Description
On a service, professional or miscellaneous invoice, enter a description of the goods or
services sold.
K Acct No. or Name On a service, professional or miscellaneous invoice, choose the account to which to allocate
the sale. Press TAB and choose an account from your accounts list. This is usually an Income
account. You should not select your Accounts Receivable account for ordinary sales.
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Entering Sales
Step 4 – Enter additional information about the sale
The actual fields that appear at the bottom of the Sales window differ, depending upon the
type of sale you’re creating. Click the Help button for a detailed description of each field in
the window.
B
A
C
D
E
F G
H
A Optional fields
Enter optional information, such as the name of the salesperson, a comment, shipping
method, promised date of goods or services, and the referral source (how the
customer found you). Enter text or click the search icon to choose from the Select
From List window.
B Already Printed
or Sent
Mark this checkbox if you do not want to print the sale.
C Journal memo
The Journal Memo is generated automatically. You can change this if you want.
D Tax
Click the zoom arrow if you want to view or change the tax amounts assigned to the
sale.
E Freight
Enter any charges for freight. Mark the field to the right if freight is taxable.
F Paid Today
Enter an amount here to indicate how much money the customer paid you at the time
of the sale or, if you’re creating an order, how much money the customer gave you as
a deposit.
G Payment
Method
Enter the payment method that the customer used to pay you. Click the Details
button to enter details of the payment method.
H Tax Code
If you want to change the tax code used for this sale, enter a different tax code here.
Step 5 – Complete the sale
Now that you’ve finished making entries in the Sales window, there are a number of tasks
you can perform with the transaction. Be sure to review all the following options before you
choose what you want to do.
•
•
•
•
User Guide
Record the sale. To record the sale without printing it, click the Record button.
Print and record the sale. If the sale you’ve created is an item, service, time billing
or professional invoice, you can print and record the transaction at the same time.
Click the Print button in the Sales window. For more information about printing
invoices, see the Printing Forms chapter on page 163.
Record and e-mail the sale. If you have a MAPI-compliant e-mail program, you can
prepare an e-mail containing the sale directly from AccountEdge. Click the Send To
button and choose E-mail. Review and make entries in the E-mail window and click
the Send button. The e-mail will be sent to your default e-mail program’s Outbox.
Send the file from your e-mail program as you normally do.
Record and fax the sale. Click the Send To button and choose Fax. A dialog box
from your fax program is displayed. Send the fax, using your fax program as you
normally do.
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Chapter 4 Entering Sales and Payments
Entering Sales
•
•
Record and save the sale to disk as a PDF. You can save the sale as a PDF (Portable
Document Format) file which you can attach to an e-mail. Click the Send To button
and choose Disk. In the dialog box that is displayed, enter a file name and location
for the file and click Save.
Store the sale as a recurring sale so that you can use it many times in the future.
Click the Save Recurring button. In the Save Recurring Template window, enter
the necessary information and click the Save Template button. (For more
information about creating and using recurring transactions, see ‘Working with
Recurring Transactions’ on page 124.)
If you want to record the sale as an actual transaction now, click the Record button
in the Sales window. If you don’t want to record the sale at this time, click the
Cancel button.
Adding lines, subtotals and headers to invoices
You can add lines, headers and subtotals to invoices, making it easy to separate and subtotal
different categories of a sale on one invoice.
To insert a blank line
1
Position the mouse pointer anywhere on the line item above which you want the blank
line to appear.
2
Go to the Edit menu and choose Insert Line.
To insert a header
You can group several line items by inserting a header.
66
1
Position the cursor on the line item above which you want the header 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
Type the text for the header. The text appears in gray, as shown below.
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To insert a subtotal
1
Position the mouse pointer on the first line below the items to be subtotaled.
2
Go to the Edit menu and choose Insert Subtotal. As shown below, a line will appear,
displaying the subtotal of all the line items above it.
To delete a blank line, line item, header or subtotal
User Guide
1
Position the mouse pointer anywhere on the blank line, line item, header or subtotal
you want to delete.
2
Go to the Edit menu and choose Delete Line.
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Chapter 4 Entering Sales and Payments
Changing the Status of a Sale
Changing the Status of a Sale
You can easily change the status of a sale. If you enter a quote or an order in AccountEdge,
you can convert it to an invoice once your customer is ready to buy your product or service.
A quote can be changed to an order or invoice. An order can only be converted to an
invoice. The status of an invoice cannot be changed.
To convert a quote to an order or invoice
You can convert a quote to an order or invoice from the Sales window or from the Sales
Register.
1
Locate and display the quote. To do this:
•
•
2
in the Sales window, enter the name of the customer whose quote you want to
convert. Select the quote from the list that is displayed and click Use Sale,
or
from the Sales Register, click the Quotes tab. Find the quote using the search filters
at the top of the window and highlight it.
Convert the quote. To do this:
•
•
Click the Change to Order button to convert the quote to an order, or
Click the Change to Invoice button to convert the quote to an invoice.
Three new fields appear in the Sales window: Paid Today, Payment Method and
Balance Due.
3
Make any necessary changes to these and other fields. Change the transaction date to
today’s date.
4
Click Record. The new order or invoice exists in AccountEdge. The original quote will
remain in the Sales Register unless you have indicated in the Sales view of the
Preferences window that you want quotes to be deleted once they are recorded as
orders or invoices.
To convert an order to an invoice
You can convert an order to an invoice from the Sales window or from the Sales Register.
If you want to convert several orders at once, see the following section.
68
1
Locate and display the order. To do this:
• in the Sales window, enter the name of the customer whose order you want to
convert. Select the order from the list that is displayed and click Use Sale,
or
• from the Sales Register, click the Orders tab. Find the order using the search filters
at the top of the window and highlight it.
2
Click the Change to Invoice button to convert the order to an invoice.
3
Make the necessary changes to the information in this window. Change the transaction
date to today’s date.
4
Click Record. The new invoice exists in AccountEdge and the original order is removed.
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To convert several orders to invoices at once
You can convert several orders to invoices at once using the To Do List window. Keep in
mind that the conversion will occur automatically and will be recorded with today’s date;
you won’t get a chance to review or change any of the transactions before they’re
converted. If you’re not sure you want to convert a particular order, we suggest you use the
Sales window to manually make the conversion (see previous procedure).
User Guide
1
Click the To Do List button from any command center. The To Do List window is
displayed.
2
Click the Orders tab to display a list of all your sales and purchases.
3
If you want to view details about a specific order, click the zoom arrow to the left of the
customer’s name.
4
Select the orders you want to convert to invoices by clicking the Action column.
5
Click the Record as Actual button.
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Chapter 4 Entering Sales and Payments
Reviewing your Sales Information
Reviewing your Sales Information
An important part of managing your business revolves around collecting your sales data
and understanding its effects on your overall financial picture. MYOB AccountEdge
contains a number of tools that you can use to review your sales information so you can
make better decisions about your business.
•
•
•
•
•
•
•
The Sales Register gives you an overall picture of your sales activity—open and
closed invoices, orders, quotes, returns, credits, etc.
Find Transactions helps you find individual sales transactions quickly.
The To Do List displays all open sales and recurring sales and orders, sorted by
overdue dates.
The Analyze Sales window can help you understand the “big picture” of your sales
activity graphically.
Sales reports help you keep track of your sales activity.
The Transaction Journal lists journal entries of your sales and other transactions.
You can view seven years of sales history for an item, a customer or an employee: for
the past five past years, the current year and the next year.
To view and edit sales in the Sales Register
The Sales Register allows you to view an overall picture of your sales activity. Using just one
window, you can quickly and efficiently look at open and closed invoices, quotes, orders,
returns and credits and recurring templates. You can even view a list of all sales, if you
choose.
You can perform several functions using the Sales Register, such as deleting a sale (see ‘To
delete a transaction’ on page 122), converting the status of a sale (see page 68) and
changing the details of a sale (see ‘Changing a transaction’ on page 121).
If one of your customers gives you a deposit, you can easily access the Receive Payments
window from the Sales Register and record that deposit.
You can also display the Settle Returns and Credits window directly from the Sales
Register if you want to apply a customer credit to a sale or offer a refund.
1
Go to the Sales command center and click Sales Register. The Sales Register window is
displayed.
2
Click the tab of the sales category you’d like to view—for example, Open Invoices.
You can view sales for all or just one of your customers for a specified date range. For more
information, see “To find a transaction using the Sales Register” on page 119.
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To find sales using Find Transactions
The Invoice view of the Find Transactions window allows you to easily find individual
sales transactions.
You can look up invoices and zoom to the transaction windows in which individual
transactions were entered. For more information, see “To find a transaction using Find
Transactions” on page 118.
To view a list of all unpaid sales, sorted by days overdue
1
Click the To Do List button in any command center. The To Do List window is
displayed.
2
Click the A/R tab. A list of all unpaid sales is displayed.
3
The Overdue column shows the number of days a receivable is overdue (a negative
number in the Overdue column indicates that the payment is not yet overdue). The
number of days an invoice is overdue is calculated by checking the original date of the
sale, comparing it to today’s date and looking at the customer’s credit terms.
4
If you want to send a collection letter using mail merge to customers with overdue
payments, select those customers by clicking the Action column.
5
If you have installed OfficeLink, click the Mail Merge button to create the letter directly
in your word processor. Otherwise, click the Disk button to create a merge file that you
can open in your word processor.
In the Learning Center, choose Forms and Reports> OfficeLink and click the topic To
send personalized letters to customers with unpaid invoices for more information on creating
collection letters using OfficeLink.
To analyze your sales activity
Understanding the “big picture” of your sales activity will help you spot business trends and
anticipate your company’s future needs. The Analyze Sales window can help you perform
this important task by providing various illustrations—in graphs or in lists—of your sales
activity.
1
Go to the Sales command center and click Analysis. The Analyze Sales window is
displayed.
2
Click the Filters button and choose the sales figures, time periods and other criteria you
want to view. Click OK. The information you selected appears in the Analyze Sales
window.
3
Use the buttons in the Analyze Sales window to view illustrated reports of your sales
activity. For more information, click the Help button in this window.
To view sales reports
There are a number of sales reports in MYOB AccountEdge that can help you track your
sales activity. For example, you can run the Receivables Aging report to view your
customers’ current balances sorted by aging periods. The Analyze Sales (Item) report tells
you at a glance which stock items are selling best. The Referral Source report is great for
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Chapter 4 Entering Sales and Payments
Reviewing your Sales Information
marketing purposes—find out which referral source is bringing your business the most
money.
¨ To view a list of all your sales reports, go to the Reports menu and choose Index to
Reports. Click the Sales tab in the Index to Reports window. For information on
displaying, customizing and printing your reports, see the Using Reports chapter on
page 175.
To view journal entries using the Transaction Journal
Using the Transaction Journal window, you can view a list of all the sales journal entries,
(as well as all other types of transactions) you’ve entered in the MYOB AccountEdge system.
You can either print lists of your sales or display them on screen.
¨ Go to the Sales command center and click Transaction Journal. The Sales view of the
Transaction Journal window is displayed.
A
B
C
A
Click here to print the Sales Ledger Journal report.
B
This area of the window displays the accounts affected by each sale, and the amounts by
which each account is debited or credited.
C
Enter dates in these fields to restrict the list of sales to a particular time period.
To view sales history
You can view sales history for an item, customer or employee.
¨ Display the Item Information window for an item or the Card Information window
for a card, and then click the History tab.
The History tab displays a total of seven years’ sales history for the item or card: five past
years, the current year and the next year. For more information, click the Help button in
this window.
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Receiving Payments
Receiving Payments
See also Sales>
Receive
Payments Overview
in the Learning
Center.
In MYOB AccountEdge, when customers make payments for the sales you’ve conducted
with them, you record the payments in the Receive Payments window; here you can apply
the payment to one or more of the customer’s outstanding sales balances.
Receiving payments using the Bank Register While you would normally use the Receive
Payments window to enter customer payments, you can also use the Bank Register
window for this purpose. The Bank Register is a real time-saver when you need to enter
several customer payments and don’t wish to record detailed information (such as payment
methods and discounts) for each payment.
The disadvantage of using the Bank Register for customer payments is that if the customer
has multiple invoices, you cannot conveniently apply the payment to a particular invoice
or split the payment between invoices—the entire payment is automatically allocated to
the oldest invoice. (You should use the Receive Payments window for this type of
transaction; see procedure below.) For more information about the Bank Register, see
“Entering Transactions in the Bank Register” on page 55.
To receive payments
See “If a customer has
overpaid you...” on
page 74 if a customer
has paid you more
than what they owe.
User Guide
1
Go to the Sales command center and choose Receive Payments. The Receive
Payments window is displayed.
2
Choose the account that will be used to receive the customer payment.
• Deposit to account. Choose this option if you want the deposit recorded directly
into an account. Specify the account by clicking the search icon and making a
selection from the checking accounts that you’ve set up.
• Group with undeposited funds. Choose this option if you want the deposit to be
recorded in the undeposited funds account. After you’ve grouped all the customer
payments you want, you can then make a bank deposit.
3
Enter details of the customer payment, such as the customer name, amount received
and payment method. Click the Details button to enter details of the payment.
4
Adjust the memo and payment date if you want. You can change the ID number that is
automatically generated. However, we recommend that you use the default number to
ensure you don’t use duplicate journal numbers.
5
Indicate which sales will be affected—what debt will be reduced or “paid off,” in
effect—by the customer 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.
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Chapter 4 Entering Sales and Payments
Receiving Payments
6
Make these entries in the scrolling list in the bottom half of the Receive Payments
window. For detailed field help, click the Help button.
A
7
B
C
D
A Discount
If you intend to award an early-payment discount for a sale, assign the discount to the
appropriate invoice in this column. Note that MYOB AccountEdge won’t allow you to
assign a discount to an invoice that is not being settled in full. If you want to give the
customer a discount, you can give them a customer credit. See ‘Creating Customer
Credits’ on page 76.
B Amount
Applied
Enter how much of the customer payment you want to apply to each sale in this
column.
C Finance
Charge
If part of the payment was used to pay finance charges, enter the finance charge
amount here. See “Adding Finance Charges” on page 75 for more information.
D Out of
Balance
Keep in mind that the amount(s) you apply in the Amount Applied column will
accumulate in the Total Applied field; and 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.
Click the Record button to record the customer payment.
Preparing a bank deposit of the undeposited funds transaction If you chose to group the
payment with other undeposited funds, you will need to create a transaction within
AccountEdge to reflect the deposit of these funds into the bank.
You would normally do this at the end of the working day, after the day’s customer
payments have been received. For more information, see “To prepare a bank deposit” on
page 52.
If a customer has overpaid you... If a customer overpays his or her account, it is very
important that the entire payment is entered into the system. 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, MYOB AccountEdge will automatically create a credit
invoice for the overpaid amount. This can either be refunded to the customer or applied to
a future invoice using Settle Returns & Credits. For more information, see ‘Settling customer
credits’ on page 77.
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Adding Finance Charges
Adding Finance Charges
Finance charges are amounts added to an outstanding balance as a penalty for late
payment. A finance charge can be added to a customer’s statement; amounts paid by a
customer to cover the charge are then recorded in the Receive Payments window.
Setting up and using finance charges
To use finance charges, set up the linked accounts for tracking late payment charges in the
Accounts Receivable Linked Accounts window (go to the Setup menu, choose Linked
Accounts and then Receivable Accounts).
Set the percentage you will be charging for late payments in the customer cards.
To show on a statement the finance charge owed by a customer, mark the Add Finance
Charges to Amount Due checkbox in the Print Statements window.
When your customer pays the late payment charge, enter the amount in the Finance
Charge field of the Receive Payments window.
Although AccountEdge does not track the history of finance charges, you can perform an
account inquiry (using Find Transactions) on the finance charge linked accounts to view
the amounts paid.
The finance charge payable by your customers will only appear on their statements; so you
may want to keep a copy of the statements sent to customers.
How finance charges are calculated
MYOB AccountEdge looks at all open invoices and calculates their due dates (using the
invoice terms). The overdue balance is then multiplied by 1/30th of the monthly finance
charge interest rate (also entered in the invoice) for every day it is overdue.
If, during the overdue period, the customer makes a partial payment, AccountEdge adjusts
the finance charge accordingly; the calculation is based on the daily overdue balance for
every open invoice.
Deleting finance charges
When you enter a finance charge in the Receive Payments window, two transactions are
recorded—the customer payment and a corresponding transaction 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 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 invoice or payment.
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Creating Customer Credits
Creating Customer Credits
In MYOB AccountEdge, a customer credit is a transaction that indicates you owe money to a
customer.
Recording credits
See also Sales>
Customer
Credits Overview in
the Learning Center.
At various times you may want to issue a customer credit to a customer. This may be in
order to rectify a problem or simply record a customer credit that you may have offered. You
can create a customer credit in one of the following ways:
•
•
Reverse an existing sale. Use this method if you are crediting the customer for the
entire sale.
Manually create a credit. You can use this method if you are crediting the customer
for part of a sale.
To reverse an existing sale
Use this method if you want to credit a customer for the entire sale and not just part of it.
Note that your company file must be set to “unchangeable” before you can reverse an
invoice; that is, the Transactions CAN’T be changed; they must be reversed preference
should be set in the Security view of the Preferences window.
1
Find and display the invoice. See “Finding a Transaction” on page 118.
2
Go to the Edit menu and choose Reverse Sale. After a few moments, a customer credit
is displayed in the Sales window.
3
If you want, you can make a few changes to the customer credit (such as the date and
memo), but you can’t change the accounts, amounts and quantities that are associated
with the credit.
4
Click the Record Reversal button.
To manually create a credit
N O N - IT E M SA L E S
Choose this method of creating a customer credit if you want to credit the customer for a
returned non-item sale.
76
1
Go to the Sales command center and choose Enter Sales. The Sales window is
displayed.
2
Choose the status and layout for the sale.
3
Enter the customer details and credit details, and select the account number to be
credited. This is normally an expense account, either Sales or Sales Returns.
4
Click Record.
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Creating Customer Credits
IT E M S AL E S
Choose this method of creating a customer credit if you want to credit the customer for a
returned item.
1
Go to the Sales command center and choose Enter Sales. The Sales window is
displayed.
2
Choose Item as the layout and enter the customer details.
3
Enter negative quantities for the items being returned in the Ship column. The cost of
the items is displayed as negative.
4
Click Record.
Settling customer credits
You can choose from two ways of settling a customer credit:
•
•
By applying the customer credit to one or more of the customer’s unpaid sales,
thereby reducing the amount of money the customer owes you, or
By writing a refund check for the amount of the customer credit.
To apply customer credits
Follow the steps below to locate the customer credit you want and then apply the credit to
one or more of the customer’s sales balances.
1
Go to the Sales command center and click Sales Register. The Sales Register window is
displayed.
2
Click the Returns & Credits tab.
3
Click the Search by down arrow and choose Customer. Enter the customer’s name in
the adjacent field. A list of credits for that customer is displayed.
4
Highlight the credit you want to apply and click the Apply to Sale button. The Settle
Returns & Credits window is displayed, listing all open sales assigned to the customer.
If you marked the Apply Customer Payments Automatically to Oldest Invoice First
preference in the Sales view of the Preferences window, amounts will appear next to
the oldest invoices in the Amount Applied column. AccountEdge is suggesting that you
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Creating Customer Credits
apply the credit to the customer’s oldest open sales; however, you can apply the credit
amount to any one transaction—or you can divide it among many transactions—in the
list. Keep in mind, however, that the total amount you apply in the Amount Applied
column must equal the amount that appears in the Credit Amount field.
5
Enter the amounts you want to apply to each open sale in the appropriate field in the
Amount Applied column.
6
Enter the customer credit amount in the Finance Charge field only if you want to apply
part of a customer credit to any unpaid finance charges the customer may have accrued.
7
If you want to give a discount to the customer for a particular sale, enter the discount
amount in the sale’s Discount column.
8
Click Record.
If the transaction is unbalanced... 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
Credit Amount field at the top of the window, a message will be displayed. Click OK to
close the message. Then check that the amounts you have applied to the various
transactions are correct.
If you change the amount in the Credit Amount field, keep in mind that you can only
enter an amount less than the original customer credit amount. If you choose to do this, the
customer credit won’t be fully applied; the remaining amount will continue to appear as a
credit.
Click Record to apply the customer credit.
To write a refund check
You can choose to pay the customer for the amount of a customer credit using the Pay
Refund function in the Sales Register.
1
Go to the Sales command center and click Sales Register. The Sales Register window is
displayed.
2
Click the Returns & Credits tab.
3
Click the Search by down arrow and choose Customer. Enter the customer name in the
adjacent field. A list of credits for that customer is displayed.
4
Highlight the credit you want to refund and click Pay Refund. A refund check for the
amount of the customer credit is displayed in the Settle Returns & Credits window.
5
Make any necessary changes to the information in the window.
If you change the amount in the Amount field, keep in mind that you can only enter an
amount less than the original customer credit amount. If you choose to do this, the
customer credit won’t be fully settled; the difference will continue to appear as a
customer credit.
6
78
Click Record to record the check or click Print to print and record the refund check. For
more information about printing checks, see “Printing Forms” on page 165.
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CHAPTER
5
Entering Purchases
Just as a business needs sales, it also needs purchases. Surviving in a competitive
environment means these purchases have to represent value for money—MYOB
AccountEdge will help you obtain value.
As with sales, AccountEdge will help you take control of your purchases and creditors. As
well as handling all your accounting requirements, AccountEdge’s ability to handle quotes,
orders and bills can help you make better purchases.
For example, you can use AccountEdge to record quotes from your vendors, then a week
later bring up a list of the quotes you have been given; you can then use AccountEdge to
fax or e-mail the successful vendors for you and easily turn the quotes into orders. When
the goods are supplied, you can turn the orders into bills. If the need arises, AccountEdge
will help you track down lost or damaged goods, and seek replacements or refunds.
You can use AccountEdge to find out what is being bought, when and from which
vendors. You can easily find out how much you owe, to whom, and for what.
Handling vendor payments couldn’t be easier. AccountEdge offers you the choice of cash,
check and credit card payments. Any purchase returns can be easily applied to open
purchases or, if the need arises, a refund can be deposited to any of your checking or
credit card accounts.
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Chapter 5 Entering Purchases
Entering Purchases
Entering Purchases
See also
Purchases>
Purchases Overview
in the Learning
Center.
You can enter a purchase transaction as a Quote, Order or Bill.
•
•
•
You can enter a quote in MYOB AccountEdge to easily store an estimate or quote
you received from one of your vendors, without creating a transaction. A quote has
no impact on your inventory levels and can be changed to an order or bill when
you’re ready to purchase.
An order (previously called a pending purchase in AccountEdge) is a purchase where
no service or goods have been received. While orders don’t affect your financial
numbers, they do affect your inventory numbers “on order” in the Analyze
Inventory window and reports. Orders don’t create a transaction in MYOB
AccountEdge unless you have paid a deposit to the vendor.
A bill is usually created when you have received the items or services you ordered
and are required to pay the vendor. It will update the appropriate accounts,
including the account for tracking payables. Bills can be open, closed or debits. A bill
can’t be changed to a quote or order.
Entering purchases in the Bank Register
While purchases are usually recorded in the Purchases window, miscellaneous one-time
purchases that you have paid for can be recorded in the Bank Register. The advantage of
using the Bank Register for this type of purchase is that you can quickly record the
transaction with minimum detail. The Miscellaneous purchase layout is used by default for
purchases entered in the Bank Register. For more information, see “Entering Transactions
in the Bank Register” on page 55.
To enter a purchase transaction, you’ll complete the steps below.
•
•
•
•
•
Choose the type of purchase you want
Enter vendor information
Enter line items—the items or services you are purchasing
Enter additional information about the purchase
Complete the purchase
Step 1 – Choose the type of purchase you want
Choose the required status and layout for the transaction you are creating. The layout
displayed in the Purchases window is determined by the default you selected when you set
up purchase details (using the Purchases Easy Setup Assistant) or in the vendor’s card.
80
1
Go to the Purchases command center and click Enter Purchases. The Purchases
window is displayed.
2
Choose the required status from the pop-up menu in the upper left corner of the
window.
3
Click the Layout button if you want to change the layout. The Select Layout window is
displayed.
4
Choose the layout (item, service, professional or miscellaneous) that you want to use
and click OK.
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Chapter 5 Entering Purchases
Entering Purchases
Step 2 – Enter information about the vendor
Regardless of the type of purchase you’re creating, you should pay special attention to the
top section of the Purchases window. The information you enter here will determine a
number of things about the purchase, including the vendor’s terms for the purchase and the
identification numbers assigned to the transaction.
A
B
C
D
A
Enter the vendor’s name. Click the search icon to display your vendor list.
B
Click the zoom arrow to alter the terms for this purchase only. See the following section.
C
Enter the purchase number here.
D
If the vendor gave you an invoice number for this transaction, enter it here.
To change your credit terms for this transaction
When you enter a vendor’s name in the Vendor field, your company’s credit terms with
that vendor appear next to the vendor’s name automatically. If you want to change these
terms for this particular transaction, follow the steps below.
N O TE
Any changes you make using this procedure will affect only the transaction you’re currently
entering If you want to change the credit terms that will be used for all future purchases from this
vendor, you should make that change in the Buying Details tab of the vendor’s card.
1
Click the zoom arrow next to the Terms field. The Credit Terms window displays
information about the terms for the transaction.
2
Make the changes you want in the Credit Terms window and then click OK to close the
window. The Purchases window is displayed again, with the new credit terms displayed
next to the Terms field.
Step 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’ll enter item numbers, descriptions, account numbers (or
account names depending upon your selection in the Preferences window) and other
information that will serve as the detail for your transaction.
When you enter information in one row in the scrolling list, you enter one line item of the
transaction. You can enter as many line items on a purchase as you want.
User Guide
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Chapter 5 Entering Purchases
Entering Purchases
The actual fields that appear in the scrolling list differ, depending upon the type of purchase
you’re creating.
N O TE
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 categories of purchases in one bill. For more
information, see “Adding lines, subtotals and headers to purchases” on page 84.
Item purchase
A
B
C
D
E
F
G
H
I
Service purchase
J
A Received
Enter the quantity of the item being received.
B Backorder
Enter the quantity of the item placed on backorder.
C Item
Number
Press TAB and choose an item from your item list.
D Description
A description of the item is displayed automatically. You can change it if you want.
E Price
The price of the item is displayed automatically. You can change it if you want.
F
Enter a discount you received from the vendor in percentage form.
Discount
G Total
The total price of the items is calculated automatically.
H Job
Enter a job number here to assign a line item to a specific job (optional). For more
information about jobs, see “Setting up Jobs” on page 47.
I
Tx
Mark the Tx column if you are paying tax for this line item.
J
Description
On a service, professional or miscellaneous purchase, enter a description of the goods or
services purchased.
K Acct No. or
Name
82
K
On a service, professional or miscellaneous purchase, choose the account to which to
allocate the purchase. Press TAB and choose an account from the accounts list. For normal
purchases, this would be an expense account.
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Chapter 5 Entering Purchases
Entering Purchases
Step 4 – Enter additional information about the purchase
The actual fields that appear at the bottom of the Purchases window differ, depending
upon the type of purchase you’re creating. Click the Help button in this window for
detailed field help.
C
B
A
D
E
F
G
A Optional fields
Enter optional details, such as a comment, shipping method, and the date the goods or
services were promised. Enter text or click the search icon to choose from the Select
From List window.
B Already Printed
or Sent
Mark this checkbox if you do not want to flag the purchase for printing at this stage.
C Journal Memo
The Journal Memo is generated automatically. You can change it if you want.
D Tax
If you want to view or change the tax amount of the purchase, click the zoom arrow.
E Freight
Enter any charges for freight. If the freight charge is taxable, enter a tax code in the field
to the right.
F Paid Today
Enter an amount here to indicate how much money you paid at the time of the purchase
or, if you’re creating an order, how much money you gave as a deposit.
G Tax Code
If you want to change the tax code assigned to this purchase, enter a different tax code
here.
Step 5 – Complete the purchase
Now that you’ve finished making entries in the Purchases window, there are a number of
tasks you can perform with the transaction. Make sure you review all the following options
before you choose what you want to do.
•
•
•
•
User Guide
Record the purchase. To record the purchase without printing it, click the Record
button.
Print and record the purchase. If the purchase you’ve created is an item, service or
professional purchase, you can print and record the transaction at the same time.
Click the Print button in the Purchases window. For more information about
printing purchase forms, see the Printing Forms chapter on page 163.
Record and e-mail the purchase. If you have a MAPI-compliant e-mail program, you
can e-mail the purchase directly from your e-mail program. Click the Send To
button and choose E-mail. Review and make entries in the E-mail window as
required and click the Send button. The e-mail will be sent to your default e-mail
program’s Outbox. Send the file from your e-mail program as you normally do.
Record and fax the purchase. Click the Send To button and choose Fax. A dialog
box from your fax program is displayed. Send the fax using your fax program as you
normally do.
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Chapter 5 Entering Purchases
Entering Purchases
•
•
Record and save the purchase to disk as a PDF. You can save the purchase as a PDF
(Portable Document Format) file which you can attach to an e-mail.
Click the Send To button and choose Disk. In the dialog box that is displayed, enter
a file name and location for the file and click Save.
Store the purchase as a recurring purchase so that you can use it many times in the
future. Click the Save Recurring button. In the Save Recurring Template window,
enter the necessary information and click the Save Template button. (For more
information about creating and using recurring transactions, see ‘Working with
Recurring Transactions’ on page 124.)
If you want to record the purchase as an actual transaction now, click the Record button
in the Purchases window. If you don’t want to record the purchase at this time, click the
Cancel button.
Adding lines, subtotals and headers to purchases
You can add lines, headers and subtotals to purchases, making it easy to separate and
subtotal different categories of purchases on one bill.
To insert a blank line
1
Position the mouse pointer anywhere on the line item above which you want the blank
line to appear.
2
Go to the Edit menu and choose Insert Line.
To insert a header
You can group several line items by inserting a header.
84
1
Position the mouse pointer on the line item above which you want the header 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
Type the text for the header. The text appears in gray, as shown below.
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Chapter 5 Entering Purchases
Entering Purchases
To insert a subtotal
1
Position the mouse pointer on the first line below the items to be subtotaled.
2
Go to the Edit menu and choose Insert Subtotal. As shown below, a line will appear,
displaying the subtotal of all the line items above it.
To delete a blank line, line item, header or subtotal
User Guide
1
Position the mouse pointer anywhere on the blank line, line item, header or subtotal
you want to delete.
2
Go to the Edit menu and choose Delete Line.
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Chapter 5 Entering Purchases
Changing the Status of a Purchase
Changing the Status of a Purchase
You can change the status of a purchase. If you enter a quote or order in MYOB
AccountEdge, you can easily convert it to a bill once the amount is payable. The order must
be converted to a bill to show up as a payable. A quote can be changed to an order or bill. An
order can only be converted to a bill.
To convert a quote to an order or bill
You can convert a quote to an order or bill from the Purchases window or from the
Purchases Register.
1
2
Locate and display the quote. To do this:
• in the Purchases window, enter the name of the vendor whose quote you want to
convert. Select the quote from the list that is displayed and click Use Purchase,
or
• from the Purchases Register, click the Quotes tab. Find the required quote using the
search filters at the top of the window and highlight it.
Convert the quote. To do this:
Click the Change to Order button to convert the quote to an order, or
Click the Change to Bill button to convert the quote to a bill.
•
•
3
Review and update the information in this window as necessary. Change the
transaction date to today’s date.
4
Click Record. The new bill or order exists in MYOB AccountEdge. The original quote
will remain in the Purchases Register unless you have indicated in the Purchases view
of the Preferences window that you want quotes to be deleted once they are recorded as
orders or bills.
To convert an order to a bill
You can convert an order to a bill in the Purchases window or from the Purchases Register.
If you want to convert several orders to bills at once, see the following section.
1
Locate and display the order. To do this:
in the Purchases window, enter the name of the vendor whose order you want to
convert. Select the order from the list that is displayed and click Use Purchase,
or
• from the Purchases Register, click the Orders tab. Find the required order using the
search filters at the top of the window and highlight it.
•
86
2
Click the Change to Bill button to convert the order to a bill.
3
Review and update the information in this window as necessary. Change the
transaction date to today’s date.
4
Click Record. The new bill exists in AccountEdge and the original order is removed.
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Chapter 5 Entering Purchases
Changing the Status of a Purchase
To convert several orders to bills at once
You can convert several orders to bills at once in the To Do List window. Keep in mind that
the conversion will occur automatically; you won’t get a chance to review or change any of
the transactions before they’re converted. If you’re not sure you want to convert a particular
order, we suggest you use the Purchases window to make the conversion manually (see
previous procedure).
1
Click the To Do List button from any command center. The To Do List window is
displayed.
2
Click the Orders tab to display a list of all your orders.
If you want to view details about a specific order, click the zoom arrow to the right of the
vendor’s name.
User Guide
3
Select the orders you want to convert to bills by clicking the Action column.
4
Click the Record as Actual button.
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Chapter 5 Entering Purchases
Reviewing your Purchase Information
Reviewing your Purchase Information
An important part of managing your business centers around collecting your purchase data
and understanding its effects on your overall financial picture. MYOB AccountEdge
contains a number of tools that you can use to review your purchase information so you
can make better decisions about your business.
•
•
•
•
•
•
•
The Purchases Register gives you an overall picture of your purchase activity—open
and closed purchases, orders, quotes, returns, etc.
Find Transactions helps you find individual purchase transactions quickly.
The To Do List displays all open purchases, recurring purchases and orders, sorted by
overdue dates.
The Analyze Payables window can help you understand the “big picture” of your
purchase activity graphically.
Purchase reports help you keep track of your purchase activity.
The Transaction Journal lists journal entries of your purchases and other
transactions.
You can view seven years of purchase history for an item or vendor for the past five
years, the current year and the next year.
To view and edit purchases in the Purchases Register
The Purchases Register allows you to view an overall picture of your purchase activity.
Using just one window, you can quickly and efficiently look at open and closed purchases,
quotes, orders, returns and debits and recurring templates. You can even view a list of all
purchases, if you choose.
You can perform several functions using the Purchases Register, such as changing the
status of a purchase (see page 86) and making changes to or deleting a purchase (see the
Working with Transactions chapter on page 117 for more information).
If you make a payment to one of your vendors, you can easily access the Pay Bills window
from the Purchases Register and record the payment.
You can also display the Settle Returns & Debits window directly from the Purchases
Register if you want to apply a vendor debit to one of your unpaid purchases with the
vendor.
1
Go to the Purchases command center and click Purchases Register. The Purchases
Register window is displayed.
2
Click the tab of the type of purchase you’d like to view, for example open bills.
You can view purchases for all or just one of your vendors for a specified date range. For
more information, see “To find a transaction using the Purchases Register” on page 119.
To find purchases using Find Transactions
The Bill view of the Find Transactions window allows you to easily find individual
purchase transactions.
You can look up bills and zoom to the transaction windows in which individual
transactions were entered. For more information, see “To find a transaction using Find
Transactions” on page 118.
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Chapter 5 Entering Purchases
Reviewing your Purchase Information
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 vendor payments for
those purchases.
1
Click the To Do List button from any command center. The To Do List window is
displayed.
2
Click the A/P tab. A list of all unpaid purchases is displayed.
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 overdue). The
number of days a bill 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 vendor.
3
Click the Action column for each bill you want to pay off. The linked Checking Account
For Paying Bills will be used for all vendor payments made from the To Do List.
CA UT I ON
Transactions are recorded automatically If you choose to make vendor payments by marking the
Action column in the To Do List window, keep in mind that the transactions will be recorded
automatically; you won’t be able to change any of the payments before they’re recorded. You can choose
to manually enter a payment in the Pay Bills window by clicking the zoom arrow next to the transaction.
See “Paying Bills” on page 91.
4
Click the Pay Bills button.
To analyze payables
The Analyze Payables window allows you to view detailed information about how much
you owe vendors and how long you’ve owed them.
This analysis is based upon all bills and payments recorded in your company file.
1
Go to the Purchases command center and click Analysis. The Analyze Payables
window is displayed.
2
Click the Filters button and set your filters in the Aging Date window.
3
Display the required view of the Analyze Payables window. The Summary view
displays all the money that you owe vendors, totalled by vendor. The Vendor Detail
view displays all the money that you owe the vendor whose name appears in the
Vendor Detail field. The Purchase Detail view displays all the transactions assigned to
the purchase that appears in the Purchase Detail field.
The information in this window is based upon the selections you made in the Aging
Periods fields of the Reports & Forms view of the Preferences window and the entries
you made in the Aging Date window.
User Guide
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Chapter 5 Entering Purchases
Reviewing your Purchase Information
To view purchase reports
There are a number of purchase reports in AccountEdge which can help you track your
purchase activity. For example, you can run the Payables Aging report if you want to analyze
your payables as of a past date. The Analyze Purchases (Item) report shows you at a glance
the stock items on which you are spending the most money.
To view a list of all your purchase reports, go to the Reports menu and choose Index to
Reports. Click the Purchases tab in the Index to Reports window. For information on
displaying, customizing and printing your reports, see the Using Reports chapter on
page 175.
To view journal entries using the Transaction Journal
Using the Transaction Journal window, you can view a list of all your purchase journal
entries (and all other journal entries) you’ve entered in the MYOB AccountEdge system. To
display the Transaction Journal window, click the Transaction Journal button in the
Purchases command center.
A
B
C
D
A Zoom arrow
Click this arrow to display the transaction in the Purchases window.
B Print button
Click here to print the Purchases & Payables Journal report.
C Display area
This area of the window displays the accounts affected by each purchase, as well as
the amounts by which each account is debited or credited.
D Date fields
Enter dates in these fields to restrict the list of purchases to a particular time period.
To view purchase history for an item or vendor
You can view the purchase history for an item or vendor.
Display the Item Information window for an item or the Card Information window for a
vendor, and then click the History tab.
The History tab displays a total of seven years’ purchase history for the item or card: five
past years, the current year and the next year. For more information, click the Help button
in this window.
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Chapter 5 Entering Purchases
Paying Bills
Paying Bills
See also
Purchases>
Vendor Payments
Overview in the
Learning Center.
Payments to your vendors are made in the Pay Bills window in the Purchases command
center. When you pay bills in MYOB AccountEdge, you apply the payment to one or more
of your outstanding purchase balances.
Paying vendors using the Bank Register While you would normally use the Pay Bills
window to pay your vendors, you can also use the Bank Register window for this purpose.
The Bank Register is a real time-saver when you have several bills to pay and don’t need to
record detailed information (such as discounts and finance changes) for each payment.
The disadvantage of using the Bank Register for vendor payments is that if you have
several outstanding bills with a vendor, you cannot conveniently choose the bill you want
to pay or split a payment between bills—the entire payment is automatically allocated to
the oldest bill. (You should use the Pay Bills window for this type of transaction; see the
procedure below.) For more information, see “Entering Transactions in the Bank Register”
on page 55.
To pay bills
1
Go to the Purchases command center and choose Pay Bills. The Pay Bills window is
displayed.
2
Enter the account that will be used to make this payment in the Account field.
3
Mark the Already Printed checkbox if you’re recording a paper check that has already
been written or if you’re recording another type of transaction (such as a petty cash
payment) that doesn’t require a printed check at the end of the transaction.
4
Enter the details of the payment, such as the vendor’s name, amount and payee address.
If you want to use an alternate address, click the Payee down arrow and make a
selection.
5
Change the memo and payment date if necessary.
You can change the check number that is automatically generated. However, we
recommend that you use the default to ensure you don’t use duplicate check numbers.
N O TE
If you receive an alert message If you have outstanding debit memos with this vendor, a message is
displayed. You’ll have the opportunity to settle the debit memos immediately or at a later date. See
“Settling vendor debits” on page 95.
User Guide
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Chapter 5 Entering Purchases
Paying Bills
6
Indicate which bills will be affected—what debt will be reduced or “paid off”—by the
payment. Make these entries in the scrolling list in the bottom half of the Pay Bills
window.
A
C
D
A Discount
If you intend to receive an early-payment discount for a purchase, assign the discount to the
appropriate bill in this column. Note that AccountEdge won’t allow you to assign a discount
to a bill that you are not settling in full. If you want to record a discount that the vendor has
given you, you can create a vendor debit. See ‘Creating Vendor Debits’ on page 94.
B Amount
Applied
Enter how much of the payment you want to apply to each bill in this column.
C Finance
Charge
If part of the payment was used to pay finance charges, enter the finance charge amount
here.
D Out of
Balance
Keep in mind that the amount(s) you apply in the Amount Applied column will
accumulate in the Total Applied field. The Total Paid amount must equal the amount that
appears in the Amount 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.
7
Decide what you want to do with the payment.
•
•
92
B
To print and record the payment, click the Print button. For more information
about printing forms, see the Printing Forms chapter on page 165.
To record the payment, click the Record button.
If you want, you can print this payment later. For more information, see the Printing
Forms chapter on page 163.
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Chapter 5 Entering Purchases
Paying Bills
What are Finance Charges?
Finance charges are amounts added to an outstanding balance as a penalty for late
payment. If your vendor has added a finance charge to your account, you can enter the
payment to cover that charge in the Pay Bills window.
To use finance charges in MYOB AccountEdge, set up the linked account for tracking late
payment charges in the Accounts Payables Linked Accounts window (go to the Setup
menu, choose Linked Accounts and then Payable Accounts).
If you have paid the late payment charge, enter it in the Finance Charge field in the Pay
Bills window.
Although AccountEdge does not track the history of finance charges, you can perform an
account inquiry (using Find Transactions) on the finance charge linked accounts to view
the amounts paid.
Deleting Finance Charges
When you enter a finance charge in the Pay Bills window, two transactions are
recorded—the payment and a corresponding transaction 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 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.
User Guide
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Chapter 5 Entering Purchases
Creating Vendor Debits
Creating Vendor Debits
In MYOB AccountEdge, a vendor debit is a transaction that indicates that a vendor owes your
company money.
Recording vendor debits
See also
Purchases>
Vendor Debits
Overview in the
Learning Center.
When you’re creating a vendor debit for the first time, you may have to create an account
designated for tracking returns and allowances. Make sure the new account is an income
account. See “To add new accounts to your Accounts List” on page 111 for more
information on creating an account.
You can create a vendor debit in one of the following ways:
•
•
Reverse an existing purchase. Use this method if you are reversing the entire original
purchase.
Manually create a debit.
To reverse an existing purchase
Use this method if you want to create a vendor debit for the entire purchase and not just a
part of it. Note that your company file must be set to “unchangeable” before you can
reverse a purchase; that is, the Transactions CAN’T be changed; they must be reversed
preference should be set in the Security view of the Preferences window.
1
Find and display the bill. See “Finding a Transaction” on page 118.
2
Go to the Edit menu and choose Reverse Purchase. After a few moments, a vendor
debit will be displayed in the Purchases window.
3
If you want, you can make a few changes to the vendor debit (such as the date and
memo), but you can’t change the accounts, amounts and quantities that are associated
with the debit.
4
Click the Record Reversal button.
To manually create a debit
N O N - IT E M P UR CH A SE S
Choose this method if you want to create a vendor debit for a non-item purchase that you
returned.
94
1
Go to the Purchases command center and choose Enter Purchases. The Purchases
window is displayed.
2
Choose the required status and layout for the purchase.
3
Enter the vendor details and debit details, and select the account number to be debited.
This is normally an income account, either Purchases or Purchase Returns.
4
Click Record.
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Creating Vendor Debits
IT E M P UR C HA S ES
1
Go to the Purchases command center and choose Enter Purchases. The Purchases
window is displayed.
2
Choose Item as the layout and enter the vendor details.
3
Enter negative quantities for the items you are returning in the Received column. The
cost of the items are displayed as negative amounts.
4
Click Record.
Settling vendor debits
You can choose from two ways of settling a vendor debit:
•
•
By applying the vendor debit to one or more of your unpaid purchases with the
vendor
By recording a refund check from the vendor for the amount of the vendor debit
To apply a vendor debit to an unpaid purchase
Follow the steps below to locate the vendor debit you want and then apply the debit to one
or more of your unpaid purchases.
1
Go to the Purchases command center and click Purchases Register. The Purchases
Register window is displayed.
2
Click the Returns & Debits tab.
3
Click the Search by down arrow and choose Vendor. Enter the vendor name in the
adjacent field. A list of debits for that vendor is displayed.
4
Highlight the debit you want to apply and click the Apply to Purchase button. The
Settle Returns & Debits window is displayed, listing all open purchases that you’ve
made from the vendor.
5
Enter the amount you want to apply in the appropriate field in the Amount Applied
column.
If you marked the Apply Bill Payments Automatically to Oldest Bill First preference in
the Purchases view of the Preferences window, amounts will appear next to the oldest
bills in the Amount Applied column at the top of the scrolling list. AccountEdge is
suggesting that you apply the debit to your oldest open purchases; however, you can
apply the debit amount to any one transaction—or you can divide it among many
transactions—in the list. Keep in mind, however, that the total amount you apply in the
Amount Applied column must equal the amount that appears in the Debit Amount
field.
User Guide
6
Enter an amount in the Finance Charge field only if you want to apply part of the vendor
debit to any unpaid finance charges you may have accrued.
7
If the vendor gave you a discount for a particular purchase, enter the amount in the
purchase’s Discount column.
8
Click Record.
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Chapter 5 Entering Purchases
Creating Vendor Debits
If the transaction is unbalanced 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 will be displayed. Click OK to close
the message. Then check that the amount you have applied to the various transactions are
correct.
If you change the amount in the Debit Amount field, keep in mind that you can only enter
an amount less than the original vendor debit amount. If you choose to do this, the vendor
debit won’t be fully applied; the remaining amount will continue to appear as a debit.
Click Record to apply the vendor debit.
To receive a refund check
1
Go to the Purchases command center and click Purchases Register. The Purchases
Register window is displayed.
2
Click the Returns & Debits tab.
3
Click the Search by down arrow and choose Vendor. Enter the vendor name in the
adjacent field. A list of debits for that vendor is displayed.
4
Highlight the debit that is being refunded and click Receive Refund. A refund check for
the amount of the vendor debit is displayed in the Settle Returns & Debits window.
5
If necessary, make changes to the information in the window.
If you change the amount in the Amount Received field, keep in mind that you can
only enter an amount less than the original vendor debit amount. If you choose to do
this, the vendor debit won’t be fully applied; the remaining amount will continue to
appear as a debit.
6
96
Click Record to record the receipt of the refund check.
MYOB AccountEdge, Version 2.0 us
CHAPTER
6
Managing Your Inventory
In Chapter 2, ‘Setting Up Your Company File’ on page 21, we looked at creating and
working with inventory items. If the items you created are marked I Inventory This Item,
you are using what accountants call the Perpetual inventory system and this chapter is for
you.
The Perpetual inventory system keeps track of your items; so you can ask your MYOB
AccountEdge inventory system how many goods are in stock, how much are they worth,
from whom did we buy and to whom did we sell?
From time to time, businesses running a Perpetual inventory system may find that their
theoretical stock levels differ from what is on the shelves. These variations can be caused by
data entry errors, spoilage and theft and, if common, should be investigated. This chapter
shows you how to compensate for stock variations.
Sometimes the quantity of items recorded in MYOB AccountEdge may be correct, but
their values are incorrect. A range of items may become redundant, damaged or for some
other reason lose value. This chapter shows you how to revalue your stock.
Many retailing and manufacturing businesses combine existing stock items to create new
stock items. For example, a retailer may combine a bottle of perfume, lotion and bath
salts and make up a gift pack. Manufacturers combine raw materials to create new stock
items. This chapter shows you how to track your inventory transfers and automate the
transfers using the Auto-Build features.
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Chapter 6 Managing Your Inventory
Making Inventory Adjustments
Making Inventory Adjustments
See also
Inventory>
Inventory
Adjustments
Overview in the
Learning Center.
From time to time you may need to adjust item quantities and values. For example, if your
stock gets damaged, you may have to write off some of your stock or revalue it. When this
happens, it’s important that you make your adjustments in MYOB AccountEdge carefully so
that your records remain accurate.
Follow the procedure below to make a one-time adjustment for a single item or a few items
using the Adjust Inventory window.
However, if you need to update the quantities of several items, you can do it quickly from
the Count Inventory window. See “Counting Inventory” on page 103.
Print the Items List (Summary) report When making an inventory adjustment, you may
find it useful to print out the Items List (Summary) report, which gives you the on-hand
quantities of all your items. You can then determine what the adjustment should be.
To make an inventory adjustment
1
Go to the Inventory command center and click Adjust Inventory. The Adjust
Inventory window is displayed.
2
Enter details of the adjustment. For complete field help, click the Help button.
A
A
B
D
C
Enter the quantity by which you want to increase or decrease the quantity held. Do not enter the
new total quantity; enter only the adjustment quantity.
In the above example, we are reducing the quantity of the item by five.
Enter 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.
98
B
The cost of each unit transferred in or out of inventory is entered here. The average cost of the
item is displayed by default. The average cost is calculated as the total cost of the item divided by
the number of units on hand.
C
The Amount field displays the quantity multiplied by the unit cost. If you change it, the unit cost
is automatically recalculated. For example, if you want to increase your current stock of ten
Gadgets, from a value of $60.00 to a value of $90.00, you would enter $30.00 in the Amount
field; the unit cost of each item is adjusted from $6 to $9.
D
The allocation account is usually a cost of sales or expense account. In the above example, the
“Shrinkage/Spoilage” expense account has been used. In this instance, it would be incorrect to
use the Inventory asset account as this would not change the balance of that account.
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Chapter 6 Managing Your Inventory
Making Inventory Adjustments
The following are some examples of inventory adjustments.
Example 1
In the following example, the inventory adjustment will increase the number of units on
hand by two and the total value of the item on hand by $800. The adjustment has been
allocated to the Inventory Adjustment account.
Example 2
In the following example, the inventory adjustment will increase the quantity of the item
by two units but will not adjust the total value of the item on hand. The adjustment has
been allocated to the Inventory asset account. Note that this will reduce the average cost of
the item.
Example 3
In the following example, the inventory adjustment will increase the total value of the item
by $120 but will not change the stock quantity.
User Guide
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Chapter 6 Managing Your Inventory
Making Inventory Transfers
Making Inventory Transfers
See also
Inventory>
Transfer Inventory
Overview in the
Learning Center.
In MYOB AccountEdge, transferring inventory is the process of taking one or more items,
known as components, and combining them to make up another item, known as a finished
item. For example, you could create an inventory transfer to turn components like timber
and fabric into finished items like furniture. Or you could create a kit composed of a
number of articles.
Use the Transfer Inventory window for a one-time transfer of stock. For routine transfers,
use the Auto-build feature. See ‘Auto-building Items’ on page 101.
1
Go to the Inventory command center and click Transfer Inventory. The Transfer
Inventory window is displayed.
2
Enter the line items for the finished item and for the components. For detailed field
help, click the Help button in this window.
In the illustration below, the first line refers to the finished item—a Floral Arrangement.
The following three lines refer to the components that make up a Floral
Arrangement—one bronze vase, three ribbons and six sprigs of flowers.
D
A
100
B
C
A
On one line, enter the Item Number of the finished item you want to create. On the next
lines, enter the Item Numbers of the component items you want to transfer.
B
Enter the transfer quantity. Enter a positive number for the finished item (this number is
added to your on-hand inventory). Enter a negative number for the component items
(this number is subtracted from your on-hand inventory).
C
Enter the cost of each unit transferred in or out of inventory. MYOB AccountEdge defaults
to the average cost of the item. The average cost is calculated as the total cost of the item
divided by the number of units on hand.
D
The Out of Balance field must be zero before you can record the transaction. That is, the
amount in the Amount field for the finished item must be equal to the sum of the
amounts in the Amount field for the components.
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Chapter 6 Managing Your Inventory
Auto-building Items
Auto-building Items
Transferring inventory is even simpler if you choose to automatically build finished items
using MYOB AccountEdge’s Auto-build inventory feature.
There are two stages:
•
•
Create auto-build items—specifying the components required
Use those auto-build items to quickly create finished items
Step 1 – Create a new auto-build item
User Guide
1
Go to the Inventory command center and click Items List. The Items List window is
displayed.
2
Click the zoom arrow of the item you want to auto-build. The Item Information
window is displayed.
3
Click the Auto-Build tab.
4
Enter the minimum level of the item you want to have in stock before you re-order (or
re-construct) the item in the Minimum Level for Restocking Alert field.
5
Click the Edit List button. The Auto-Build Information window is displayed.
6
Specify how many units of the item the listed components will make in the List what it
takes to build field. In the example above, one unit of Widgets is made out of the
components listed. If bulk quantities of materials are purchased to build an item, it may
be easier to specify the materials required to build a larger quantity of the item, such as
ten or twenty.
7
Enter the item details of each of the components. In the example above, the
components are two Whatsits and one Gadget. Click in the Item Number column and
press TAB. Your Items List is displayed. Highlight the first item required to build the new
item and then click Use Item. The item number and name are displayed in the AutoBuild Information window. In the Quantity field, enter how many of the components
are required to build the specified quantity of the item.
8
Repeat the previous step for each of the components required to build the new item.
Click OK when you have entered them all.
9
Click OK in the Item Information window.
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Chapter 6 Managing Your Inventory
Auto-building Items
Step 2 – Auto-build a finished item
1
Go to the Inventory command center and click Auto-Build Inventory. The Auto-Build
Inventory window is displayed.
C
A
B
D
A
This column displays all items that you've designated as finished items.
B
The On Hand, On Order and Net on Hand columns show the current record of your finished
items.
C
Enter the quantity of finished items you want to build in this column.
(Click the None button if you want to change all numbers in the Qty to Build column to zero.)
D
Click the Build Items button to begin creating an inventory transfer for the items for which
you've made an entry in the Qty to Build column.
2
When you click Build Items, the Transfer Inventory window displays the details of the
transfer that will occur when the finished item is built. Review the entries in this
window to make sure the quantities, unit costs, and total inventory values are correct.
Note that the quantities of the components in the list are displayed as negative
numbers, while the quantities of the finished items in the list are shown as positive
numbers.
3
Click Record to record the inventory transfer and update your inventory quantities and
values.
You can also auto-build items using the To Do List. In the Learning Center, choose
Inventory and click the topic To auto-build an item using the To Do List.
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Chapter 6 Managing Your Inventory
Counting Inventory
Counting Inventory
You may recall entering your opening stock quantities using the Count Inventory window
when you set up your company file.
You can also use the Count Inventory window to make adjustments to item quantities
during regular stocktakes or any time you find discrepancies between the actual quantity of
items you have in stock and your MYOB AccountEdge records of those quantities.
The Count Inventory window will speed the process of updating the quantities of items. By
using this window, you can quickly create one inventory adjustment for all the items whose
quantities you need to change.
Each inventory adjustment you make must be allocated to a specific account so your
accounting records accurately reflect the reasons why your inventory needed adjusting. For
example, many businesses use one account—often called “Shrinkage/Spoilage”—to track
natural loss or theft of their items.
Before you count inventory in MYOB AccountEdge
You can either print
the Inventory Count
Sheet by clicking the
Print button in the
Count Inventory
window or, if you
want to set filters,
from the Index to
Reports window.
•
•
Make sure you record any inventory transfers before counting your inventory.
Otherwise, missing inventory that was really used to build another item will be
accounted for as an expense, such as loss or shrinkage. See ‘Making Inventory
Transfers’ on page 100 for more information.
Count the actual items in your inventory. You can use the Inventory Count Sheet
report, which lists all your inventory items, for this purpose (see side note).
To count inventory
1
Go to the Inventory command center and click Count Inventory.
2
In the Count Inventory window, enter the actual quantities of the inventory items in
the Counted column. Any discrepancy between the counted quantity and the on-hand
quantity is displayed in the Difference column.
3
Click the Adjust Inventory button to display the Adjustment Information window.
You can specify a default allocation account with which you can track the adjustments
you entered in the Count Inventory window. 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. It should not be your Inventory asset account.
Keep in mind, however, that you don’t need to enter a default allocation account in the
Adjustment Information window. If it’s necessary for you to use different accounts to
track the adjustments you made in Step 2, you’ll get the chance to enter those accounts
in the next step.
User Guide
4
Click Continue. The Adjust Inventory window is displayed. A line item for each
adjustment you entered in the Count Inventory window in Step 2 is displayed.
5
Take a look at the Account column. If you entered a default allocation account in
Step 3, that account appears in the Account column for each line item. If you didn’t
enter a default allocation account, enter the accounts you want to use to track each
item’s change in quantity. Click the Record button.
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Chapter 6 Managing Your Inventory
Setting Item Prices
Setting Item Prices
You can quickly change the default selling prices of the items you sell using the Set Item
Prices window.
You can still change prices at the point of sale, which will override the default price for that
sale only.
Average Cost and Last Cost
Average Cost is calculated by MYOB AccountEdge as the total cost of the item (what you
paid when you purchased the item or the cost entered when you transferred the item into
inventory) divided by the number of units on hand.
Last Cost is the purchase price on the most recent purchase. If the most recent item activity
is an inventory transfer, the unit transfer cost is used.
Note that you cannot adjust prices based on a markup of the current selling price—for
example, a 10% increase on the current selling price.
To change the price of items
1
Go to the Inventory command center and click Set Item Prices. The Set Item Prices
window is displayed.
This window lists all your current inventory items, their current price, and the average
or last cost of each item.
If an item is not listed, it means that you haven’t marked the I Sell option for the item.
2
Click in the Current Price column of an item and enter a new price. Do this for each
item price you want to change.
MYOB AccountEdge accepts unit prices up to four decimals. On the invoice, it
multiplies the unit price by the quantity sold before rounding to cents.
3
Click OK.
To change the price of multiple items at once
You can change the prices of multiple items at once using pricing shortcuts.
104
1
Go to the Inventory command center and click Set Item Prices. The Set Item Prices
window is displayed.
2
Mark the Shortcut column next to the items whose prices you want to update. If you
want to update the prices of all your items, you can leave the Shortcut column blank.
3
Click the Shortcuts button. The Pricing Shortcuts window is displayed.
4
Make as many entries as you want in this window, including how you want the price
rounded, the basis for calculating the price, and so on. Your selections here will apply to
all items you selected in the Set Item Prices window. For detailed field help, click the
Help button.
MYOB AccountEdge, Version 2.0 us
Chapter 6 Managing Your Inventory
Customizing Inventory
Customizing Inventory
MYOB AccountEdge has three features that allow you to specifically customize how you
record information and prices for your inventory:
•
•
•
Custom price levels, which you can use to assign a price level (one of six) to a
customer for purchases of five different quantities of the item. There are six price
levels for each of the five quantity breaks. For example, you might have quantity
breaks of five, ten, twenty, fifty and hundred. For each of these breaks, you can set
six different price levels for your customers.
Custom fields, which you can use to ensure certain information is always recorded
for an item, such as Warranty, Warehouse Location and Voltage. These should be
used for information that you don’t need to use as report filters.
Custom lists, which you can use to record information about an item and then be
able to run reports per custom list. For example, if you are running a trailer rental
business, you might have custom lists of ‘Color,’ ‘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
MYOB AccountEdge has a pricing matrix for handling inventory. Using five quantity breaks
and six price levels, you can structure your pricing according to customer status and sales
quantities. This gives you full control of giving discounts to customers for bulk sales of an
item.
For example, a level three customer might pay $140 for a single quantity of the item, but if
he purchased five units of the item, he would only have to pay $100 each for them.
N O TE
Volume Customer Discount Note that the Volume Customer Discount for each customer in the Card File
applies to a sale over and above the quantity break price levels you set up.
Setting custom price levels includes the following steps:
•
•
•
Naming your price levels
Specifying price levels for an item
Assigning a price level to a customer
To name your price levels
User Guide
1
Go to the Lists menu, choose Custom List and Field Names and then Price Levels.
2
Enter names for each of the price levels as you want them to appear in the Selling
Details tab of the Item Information window. Click OK.
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Chapter 6 Managing Your Inventory
Customizing Inventory
To specify price levels for an item
1
Display the Item Information window for the item and click the Selling Details tab.
The Base Selling Price you entered for this item in the upper section of the Selling
Details tab appears at Level A (or whatever you have chosen to label this field).
2
In the remaining fields (Levels B to F, or whatever you have chosen to label them), enter
the selling price of this item. Make an entry for each price level you want to use. For
detailed help, click the Help button.
3
In the next Over field, enter the new quantity break, where for sales of this quantity and
above, you assign different price levels. Assign the different price levels for this quantity
break.
4
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 specify a quantity greater than the
previous quantity break and less than the next.
To assign a price level to a customer
1
Display the customer’s Card Information window and click the Selling Details tab.
2
Enter the price level you want to assign to the customer in the Item Price Level field.
You can assign one of the six price levels or the item’s Base Selling Price to the customer.
3
Click OK.
Creating custom fields
The three custom fields are an optional feature of MYOB AccountEdge inventory that are
used simply to record additional information about your items. Unlike custom lists, custom
fields are not used when generating inventory reports. Examples of how you might name
the custom fields include ‘warranty,’ ‘warehouse location,’ and ‘manufacturer.’
1
Go to the Lists menu and choose Custom List and Field Names and then Items.
2
Enter the new field names in the Name of Custom Field fields and click OK. These field
names will now appear in the Item Details tab of the Item Information window, for all
items.
You can customize your invoices and purchases to include the custom fields on your
purchases and invoices. For more information on customizing forms, see ‘Customizing
Forms’ on page 167.
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Chapter 6 Managing Your Inventory
Customizing Inventory
Creating custom lists
MYOB AccountEdge allows you to create three custom lists that you can use to sort and
group your inventory items.
An example of a custom list might be ‘Color,’ 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 colors. When you run an Inventory report such as the Analyze Inventory (Summary)
report, you can choose to include only red items in the report.
Creating custom lists includes the following steps:
•
•
•
Naming the custom list
Creating custom list entries
Assigning a custom list entry to an item
To name the custom list
1
Go to the Lists menu, choose Custom List and Field Names, and then Items.
2
Enter names for each of the three custom lists in the appropriate fields and click OK.
These custom list names will now appear in 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
is displayed.
2
Click the Custom List drop-down menu and choose the list for which you want to make
entries.
3
Click the New button and enter the name of the list entry. In the above example, you
would enter a color, such as Yellow.
4
Repeat Step 3 until you have created all your list entries, and then click OK.
To assign a custom list entry to an item
1
Display the Item Information window for the item and click the Item Details tab.
2
Click the search icon next to a custom list and choose the required entry.
Custom lists and inventory reports
MYOB AccountEdge allows you to generate reports using your custom lists as report filters.
This means that you can generate a report to include only those items with a certain list
entry, such as the color red. For more information on setting report filters, see “Filtering
reports” on page 177.
Printing custom lists on your purchases and invoices
You can customize your invoices and purchases to include custom lists. See the Printing
Forms chapter on page 163 for more information on customizing and printing forms.
User Guide
107
Chapter 6 Managing Your Inventory
Inventory Reports
Inventory Reports
MYOB AccountEdge has several reports which you can generate to keep track of your
inventory. Following is a list of some of the reports you may find useful. For information on
finding, customizing and printing reports, see the Using Reports chapter on page 175.
•
•
•
108
Analyze Inventory 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 report. This report lists your item prices—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.
MYOB AccountEdge, Version 2.0 us
CHAPTER
7
Working With Lists
MYOB AccountEdge’s system of lists is like your address book or your diary and can, along
with your transactions, be your research assistant. By lists we mean AccountEdge’s system
of organizing cards, accounts, jobs, payroll categories, items, tax codes, time billing
activities and currencies. These lists can be accessed from the Lists menu and from the
command center from where you would be most likely to use them. For example, the
Items List is available from the Inventory command center.
Lists streamline the repetitive tasks of keeping your accounts by creating records that you
can use time and time again. For example, the customer, item, tax code and account you
use to record a sale can be used as many times as you need. Lists also allow MYOB
AccountEdge to keep track of the companies that owe you money, the items you have
sold, and the tax codes being used.
If you create vendor and customer cards, you can use AccountEdge’s contact log system
(see Appendix B) to keep a detailed diary of all your dealings with your business contacts.
For example, you can record sales and purchase information, notes about conversations,
and more within the contact logs.
AccountEdge’s lists can be easily edited and modified to suit your own requirements. For
example, you can modify account and job levels to affect how they appear in reports. You
can also inactivate records you don’t use frequently to keep your lists short and up to date.
Lists can greatly assist your marketing efforts. For example, you could use a combination of
customer lists, identifiers, contact logs and e-mail addresses to create a list of customers
who live near you and have contacted you within the last six months. You could then use
AccountEdge to create an Adobe Acrobat PDF file of your current price list and e-mail or
fax it to these customers. The marketing possibilities are almost limitless.
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Chapter 7 Working With Lists
Adding a New Record
Adding a New 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.
Adding a new card
See also Card
File> Cards
Overview> Creating
Cards in the Learning
Center.
When you set up your company file, you created cards for your existing customers, vendors
and employees using the Easy Setup Assistant.
You can add any number of new cards to your Card List any time you want. In addition to
customer, vendor and employee cards, you can also create personal cards for your friends
and relatives.
The procedure for creating a card from the Card File command center is very similar to
creating a card using the Easy Setup Assistant.
To add a new card to your Cards List
1
Go to the Card File command center and click Cards List. The Cards List window is
displayed.
2
Click the New button. The Card Information window is displayed.
3
Choose the required card type—Customer, Vendor, Employee or Personal.
4
Complete the fields in the relevant tabs in this window. For detailed field help on
creating a card, click the Help button in each tab.
You may want to take advantage of the following optional but useful features in the
Card Details tab:
•
•
•
Identifiers, which are useful for grouping your cards and limiting information you
view to that group. See ‘Organizing your cards’ on page 220.
Picture, which allows you to link a PICT file to a card. See “Linking a picture to a
record” on page 221.
Custom lists and fields lets you record additional information about a card that
may be specific to your business. See “Recording additional information about your
cards” on page 220.
Adding a new account
See also
Accounts>
Accounts Overview>
Creating Accounts in
the Learning Center.
110
When you set up your company file using the Easy Setup Assistant, you reviewed your
accounts list and perhaps created some new accounts.
If your business requires any additional accounts, you can add them to your accounts list
any time you want from the Accounts List window. The procedure for creating an account
from the Accounts List window is very similar to creating an account using the Easy Setup
Assistant.
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Chapter 7
Working With Lists
Adding a New Record
To add new accounts to your Accounts List
1
Go to the Accounts command center and click Accounts List. The Accounts List
window is displayed.
2
Click the New button. The Account Information window is displayed.
3
Enter information about the new account. For detailed field help, click the Help button.
Adding other records
If you want to add:
•
•
•
•
•
•
an item, see “To create an item” on page 41. The procedure for adding new items to
your Items List is the same as for creating item records during the setup.
a tax code, see ‘To create a tax code’ on page 39.
a job, see “To create a job” on page 47.
a payroll category, see ‘Creating Payroll Categories’ on page 128.
a time billing activity, see “To create an activity” on page 145.
a foreign currency, see “Set up records for foreign currencies” on page 154.
Adding records using “Easy-Add”
You can create new records easily using the Easy-Add function. Accounts and customer,
vendor, employee and personal cards can be added to your lists “on the fly” as you perform
your daily business tasks in AccountEdge.
To create a new record using Easy-Add
Let’s assume you want to easy-add a customer card while entering a sale.
1
In the Sales window, click the search icon next to the Customer field. The Select from
List window is displayed, with a list of your customer cards.
2
Enter the name you want to add in the Look for field and click the Easy-Add button.
The customer card is added to your Cards List
You can now proceed to complete your task with the new card.
3
Whenever you have time, go to the Card Information window and enter the rest of the
customer details.
Easy-Add is not available from some transaction windows such as Spend Money where
AccountEdge has no way of knowing the type of card (vendor, employee, etc.) that you
want to create.
User Guide
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Chapter 7 Working With Lists
Finding a Record
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 your accounts, and so on. As lists get long, it can take
time to locate a record. MYOB AccountEdge provides you with the following tools to
quickly find a record.
Tabs
Some lists are divided into separate views or tabs. For instance, the Accounts List is divided
by account type into eight tabs, making it easier for you to find an account. For example, if
you are looking for an Asset account, click the Assets tab. Within the tab, you can use the
scroll lists to find the record.
Search fields
The Cards List and Items List have a Search field that you can use to locate a record quickly.
Simply type a few characters of the card name or item number in the Search field. If you
have specified in the Preferences window that you want to select items by item name and
cards by card ID, enter the item name or card ID instead. The record that most closely
matches your entry will be highlighted in the list.
Advanced Search filters
You can use advanced search filters such as recontact date and ZIPcode to search for a single
card or a group of cards.
In the Cards List window, click the Advanced button. Enter the relevant filters to narrow
your search. The Cards List will display only those cards that fit your selection criteria.
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Changing a Record
Changing a Record
In MYOB AccountEdge, you can easily and conveniently update information you initially
entered for your records. For example, you can update contact details for a card or the
selling price of an item by simply displaying the record and typing in the changes.
You can make changes to information you recorded for your accounts, cards, items, jobs,
tax codes, time billing activities, foreign currencies and payroll categories.
Making changes to records that have been used in transactions Some restrictions apply
when making changes to records that have been used in transactions. For example, if
you’ve recorded sales or purchases with an item, you won’t be able to clear the I Buy This
Item, I Sell This Item or I Inventory This Item checkboxes. If you want to change these
selections, you’ll first need to remove the transactions that the item is assigned to.
Making changes to payroll categories Keep in mind that when you change a payroll
category, you change the payroll category for all employees who are assigned that payroll
category. Most likely, the employees’ paycheck amounts will be different after you change
their payroll categories. You may find it easier to create a new payroll category and assign it
to the employees concerned rather than change an existing category.
To make changes to a record
User Guide
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 editing a tax code, display the
Tax Code List window, and so on. You can do this by using the Lists menu or from the
appropriate command center.
2
Locate the record you want to change in the list. Use a search method described in
“Finding a Record” on page 112 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.
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Deleting a Record
Deleting a Record
MYOB AccountEdge permits you to 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 an account
You can remove an account from the MYOB AccountEdge system if the account meets the
following criteria:
•
•
•
•
•
•
The account isn’t a Level 1 account.
The account has a zero balance.
No journal entries are assigned to the account.
None of your recurring transactions use the account.
The account isn’t linked to any transaction types.
The account isn’t linked to any of the items you’ve entered in the Item Information
window.
To delete an account
1
Make a backup of your company file.
2
Go to the Accounts command center and click Accounts List. The Accounts List
window is displayed.
3
Click the zoom arrow next to the account you want to delete so that the account details
are displayed in the Account Information window.
4
Go to the Edit menu and choose Delete Account.
Deleting other records
Note the following before deleting cards, items, tax codes, jobs, time billing activities,
foreign currencies and payroll categories.
•
•
•
•
•
114
You cannot delete a card, item, tax code, job, foreign currency or payroll category
that has been used in a transaction. You need to delete the transaction(s) before you
can delete the record.
You cannot delete a card that has been used in a quote, order or recurring template.
You cannot delete a foreign currency record that has been linked to a card. You
cannot delete the local currency record.
You cannot delete an item if you have that item in inventory.
Payroll categories must have a zero balance before they can be deleted. The Base
Salary and Base Hourly wage categories cannot be deleted. Wages, deductions,
accruals and employer expenses that have been recorded on current
paychecks—that is, paychecks that have been recorded in the current payroll
year—can’t be deleted.
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•
•
Working With Lists
Deleting a Record
You cannot delete an activity until all the activity slips you’ve recorded for it have
been purged.
If you have already billed for an activity slip—partially or in full—you cannot delete
it until you purge the Time Billing invoice on which it was billed.
To delete other records
User Guide
1
Display the list the record belongs to. For example, if you are deleting an item, display
the Items List window; if you are deleting a card, display the Cards List window, and so
on. (If you are deleting an activity slip, display the View Activity Log window.) You can
do this by using the Lists menu or from the appropriate command center.
2
Locate the record you want to delete and click the zoom arrow next to it. The record
details are displayed in the Information window. (If you are deleting an activity slip,
the record details are displayed in the Enter Activity Slip window.)
3
Go to the Edit menu and choose Delete <Record> (where <Record> is the name of your
record).
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Inactivating/Reactivating a Record
Inactivating/Reactivating a Record
If you have accounts, cards, items, time billing activities or jobs that you rarely use—for
example, you created a card for a one-time sale or purchase—inactivating them after use
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.
Regardless of the status of a record—active or inactive—transactions recorded using it will
still affect all of your financial records.
Displaying inactive records in reports When you view or print a report listing your
records—for example, the Jobs List report, the Card List report or the Accounts List
report—you can set the filters to include or exclude your inactive records in that report.
To inactivate a record
1
Display the list the record belongs to. For example, if you are inactivating a card, display
the Cards List window. You can do this by using the Lists menu or from the appropriate
command center.
2
Locate the record you want to inactivate and click the zoom arrow next to it. The record
details are displayed. For cards and items, make sure the Profile tab is displayed.
3
Mark the Inactive <Record> checkbox (where <Record> is the name of your record).
4
Click OK.
To reactivate a record
1
Display the list the record belongs to. For example, if you are reactivating an item,
display the Items List window. You can do this by using the Lists menu or from the
appropriate command center.
2
Locate the record you want to reactivate and click the zoom arrow next to it. The record
details are displayed. For cards and items, make sure the Profile tab is displayed.
3
Clear the Inactive <Record> checkbox (where <Record> is the name of your record).
4
Click OK.
The record will now reappear in selection lists.
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CHAPTER
8
Working With Transactions
It is one thing to enter your data, but there comes a time when you need to find it. MYOB
AccountEdge allows you to search for transactions by journal, account, card, payroll
category, sale, purchase and job number.
You can simply look for transactions over a given date range, or set up sophisticated
searches. For example, you could look for checks between a given date range where the
memo contains specific words. AccountEdge’s powerful search functions mean you will
always be able to find the information you want quickly.
Once you have found your transaction, you can easily zoom back to the original
transaction window. Here you can change, delete or reverse the transaction. Changing
and deleting transactions bring with it auditing and security questions; so, many larger
businesses prefer to reverse their transactions. Reversing transactions keeps their audit
trail complete.
As businesses have many repetitive transactions that occur weekly, monthly or yearly,
MYOB AccountEdge allows you to set up recurring transactions. This is where you can tell
AccountEdge to remind you about a transaction. Many businesses set up AccountEdge to
remind them of their monthly obligations like rent. They may set up weekly reminders
about sales and purchases; some businesses even set up recurring General Journal entries
to record depreciation on a monthly basis.
MYOB AccountEdge has many features that can handle the repetitive tasks associated
with running a business. It also makes it easy to locate and correct transactions. So read
on and take advantage of these time-saving features.
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Finding a Transaction
Finding a Transaction
MYOB AccountEdge has several search methods that can help you find a transaction
quickly and conveniently. The method you use depends on the information you have at
hand.
Find Transactions Use Find Transactions to find General Journal entries, sales, purchases,
checks, deposits, and vendor and customer payments. Find Transactions has an advanced
search tool which allows you to locate a transaction using a number of filters, including
date, transaction ID, amount, memo, source journal, account, card, job and payroll
category.
Sales Register Use the Sales Register to quickly access transactions relating to Sales such
as open, closed and recurring invoices, quotes, orders, credits and returns. This search
method is most useful if you know the transaction date or customer’s name.
Purchases Register Use the Purchases Register to find transactions relating to Purchases
such as quotes, orders, open, closed and recurring purchases, debits and returns. This search
method is most useful if you know the transaction date or vendor’s name.
Bank Register Use the Bank Register to find Spend Money and Receive Money
transactions, sales, purchases, vendor payments and customer payments.
Transaction Journal Use this method to search for any transaction by source journal. You
can search for inventory transfers, adjustments, etc., using the Transaction Journal.
To find a transaction using Find Transactions
1
From any command center, click Find Transactions.
2
In the Find Transactions window, click the appropriate tab—for example, the Account
tab to search by account.
3
Filter your search using the Search By and Date range fields. For example, to search for
all transactions made in May 2001 relating to customer Boffo Products, you would make
the following selections in the Card tab.
4
Click the Advanced button if you want to narrow your search further. For more
information about the fields in this window, click the Help button.
When the transaction(s) that fit your search criteria are displayed in the Find
Transactions window, you can view them in detail by clicking the zoom arrow next to
each transaction.
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Working With Transactions
Finding a Transaction
To find a transaction using the Sales Register
The Sales Register gives you easy access to transactions relating to sales.
1
Go to the Sales command center and click Sales Register. The Sales Register window is
displayed.
2
Click the required tab—for example Open Invoices.
3
Filter your search using the Search By and Date range fields.
When the transaction(s) that fit your search criteria are displayed in the Sales Register
window, you can view them in detail by clicking the zoom arrow next to each
transaction.
To find a transaction using the Purchases Register
The Purchases Register gives you easy access to transactions relating to purchases.
1
Go to the Purchases command center and click Purchases Register. The Purchases
Register window is displayed.
2
Click the required tab—for example, Open Bills.
3
Filter your search using the Search by and Date range fields.
When the transaction(s) that fit your search criteria are displayed in the Purchases
Register window, you can view them in detail by clicking the zoom arrow next to each
transaction.
User Guide
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Finding a Transaction
To find a transaction using the Bank Register
You can use the Bank Register to find checks, Spend Money and Receive Money
transactions, sales, purchases, vendor payments and customer payments.
1
Go to the Banking command center and click Bank Register. The Bank Register
window is displayed.
2
Specify the checking or credit card account you used for the transaction in the Account
field.
3
In the Dated From and To fields, enter the date range within which the transaction was
recorded. All transactions between (and including) these dates will be listed.
4
Locate the transaction you want using the scroll bar and then click the zoom arrow to
the left of the transaction to view it in its original window.
To find a transaction using the Transaction Journal
The Transaction Journal groups all your accounting entries into one of seven journals:
General, Disbursements, Receipts, Sales, Purchases, Inventory and All.
You can also display
the Transaction
Journal window by
clicking the Journal
button in a
transaction window
such as Sales.
120
1
Click Transaction Journal from any command center (except Card File). The
Transaction Journal window is displayed.
2
Click the appropriate tab—for example, the Sales tab to find a sales invoice, the
Disbursements tab to find a check or vendor payment, and so on.
3
In the Dated From and To fields, enter the date range within which the transaction was
recorded. All transactions between (and including) these dates will be listed.
4
Locate the transaction you want using the scroll bar and then click the zoom arrow to
the left of the transaction to view it in its original window.
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Changing or Deleting a Transaction
Changing or Deleting a Transaction
If you are part way through entering a transaction, you can erase it and start anew by
choosing Erase <transaction type> from the Edit menu.
Occasionally, however, you may need to make changes to or delete a transaction you have
already recorded. A transaction can be edited or removed only if it is changeable, that is, you
have turned off the Transactions CAN’T be changed; they must be reversed (systemwide) setting in the Security view of the Preferences window. A changeable transaction is
distinguished by a white zoom arrow next to it.
N O TE
Making unchangeable transactions changeable You can make an unchangeable transaction
changeable at any time simply by turning off this preference in the Security view of the Preferences
window.
If you want to maintain a strict audit trail, you should consider leaving this preference on
and reversing the transaction (see page 123).
Remember, when you delete a transaction, it is permanently removed from your records;
any changes you make to a transaction permanently alters your records.
Changing a transaction
Follow the instructions below to change a transaction.
Transactions that cannot be changed Note that you cannot change a customer payment,
vendor payment, a paycheck, a refund check or a bank deposit once it has been recorded.
You can only delete or reverse it.
Inventory transactions You cannot make changes to any inventory transactions such as
auto-builds, transfers and adjustments. You should create a new inventory adjustment that
offsets the original transaction. Special rules apply. For more information about inventory
adjustments, in the Learning Center, choose Inventory and click the topic Inventory
Adjustments Overview.
To change a transaction
User Guide
1
Find and display the transaction in its original transaction window. See “Finding a
Transaction” on page 118 for instructions.
2
Make the necessary changes to the transaction.
3
Click OK when you’re done.
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Changing or Deleting a Transaction
Deleting a transaction
Follow the instructions below to delete a transaction. Note the following when deleting a
transaction.
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 may have been given must
also be deleted before the transaction can be deleted.
If you applied a vendor debit towards a purchase, you must delete the debit before you can
delete the purchase. A customer credit applied to a sale must be deleted before the sale can
be deleted.
Inventory transactions You cannot delete any inventory transactions such as auto-build,
transfers and adjustments. You should create a new inventory adjustment that offsets the
original transaction. Special rules apply. For more information about inventory
adjustments, in the Learning Center, choose Inventory and click the topic Inventory
Adjustments Overview.
Receipts grouped in the undeposited fund transactions account If you want to delete an
individual receipt that was recorded on 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 receipts included in the bank deposit are returned to the Prepare a Bank
Deposit window. You can then delete the required receipt from this window.
Reconciled transactions Note that if you delete a reconciled transaction, your bank
reconciliation will be out of balance.
To delete a transaction
122
1
Find and display the transaction in its original transaction window. See “Finding a
Transaction” on page 118 for instructions.
2
Go to the Edit menu and choose Delete <Transaction >. The transaction will be
removed permanently from your records.
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Reversing a Transaction
Reversing a Transaction
If your accountant requires that you maintain an audit trail of all your accounting entries,
you should reverse a transaction rather than change or delete it.
A reverse transaction is a new transaction that replicates the original transaction, with debit
amounts shown as credit amounts and vice versa. After posting a reverse transaction, you
have two transactions (the original and the reverse), but the current account balances
appear as if the original transaction never happened.
You can only reverse a transaction if it is unchangeable, that is, if the Transactions CAN’T be
changed; they must be reversed (system-wide) setting is selected in the Security view of
the Preferences window. An unchangeable transaction is distinguished by a gray zoom
arrow next to it.
N O TE
Making changeable transactions unchangeable You can make a changeable transaction
unchangeable at any time simply by turning on this preference in the Security view of the Preferences
window.
When you reverse a transaction, remember that you cannot change the accounts or
amounts. Also be aware of the date of a reverse transaction. 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 reverse transaction. If you use the original date for the reverse
transaction, your prior month financials should be reprinted as they would have changed.
Customer and vendor payments Be aware that if an early payment discount was applied
to the sale or purchase to which you originally applied the payment, you also need to
reverse the discount. (You can find discount transactions the same way you find vendor or
customer payments; look for a transaction with the label “Discount” in the Find
Transactions window.)
Inventory transactions You cannot reverse any inventory transactions such as autobuilds, transfers and adjustments. You should create a new inventory adjustment that
offsets the original transaction. Special rules apply. For more information about inventory
adjustments, in the Learning Center, choose Inventory and click the topic Inventory
Adjustments Overview.
To reverse a transaction
User Guide
1
Find and display the transaction you want to reverse. See “Finding a Transaction” on
page 118 for instructions.
2
Go to the Edit menu and choose Reverse <transaction type>. After a few moments, a
new transaction containing amounts exactly opposite of the amount in the original
transaction is displayed.
3
If you want, you can make a few changes to the new transaction, such as the date and
memo, but you can’t change the accounts and amounts that are associated with it.
4
Click Record to record the reversed transaction. At this point, the transaction is reversed
and all account balances are returned to their previous levels.
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Working with Recurring Transactions
Working with Recurring Transactions
If you have a transaction that must be written time and time again—for example, a rent
check or depreciation expenses—they can be saved as recurring transactions. You can make
the following transactions recurring: sales, purchases, checks, deposits and General Journal
entries.
When you save a transaction as recurring, AccountEdge puts a copy of it in a separate list of
recurring transactions. Any time you need to use one, all you need to do is simply click the
Use Recurring button, select the appropriate transaction, verify the details and record it.
To create a recurring transaction
1
Enter the details of the transaction in a transaction window. Then, instead of clicking
Record, click the Save Recurring button. The Save Recurring Template window is
displayed.
2
Enter a name to identify the transaction.
3
Specify the frequency of the transaction and a reminder date.
If you specify the frequency and a reminder date, AccountEdge will post a reminder in
your To Do List and, if the transaction affects a checking account, adjust for it on your
Cash Flow Worksheet. Note that any recurring transaction with a frequency of “Other”
is not included in your Cash Flow Worksheet.
4
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Click the Save Template button.
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Working with Recurring Transactions
To use a recurring transaction
You can either use a recurring transaction from a transaction window such as Spend Money
or Record Journal Entry, from the Sales Register, Purchases Register, Bank Register or
from the To Do List. The advantage of using the To Do List is that you can process several
recurring transactions at once.
TO P R O CE S S A SI N G LE R EC UR R IN G T R A N SA C T IO N
1
Open a transaction window, for example Sales, and click the Use Recurring button. A
list of recurring templates that you have created is displayed.
2
Select the required template and click the Use Recurring button. The transaction is
displayed, ready to be modified (if needed) and recorded.
3
Verify the date, amount, account and other details and make any necessary changes.
4
Click Record.
TO P R O CE S S M U LT IP LE R EC UR R IN G T R A NS A C T IO N S
1
From any command center, click To Do List.
2
Click the appropriate tab—Sales for recurring sales, Purchases for recurring purchases
and Transactions for all other recurring transactions.
When the list of transactions is displayed, you can click the zoom arrow to the left of a
transaction to view it in detail.
User Guide
3
In the To Do List window, click the Action column to mark any recurring transactions
you want to process.
4
Click Record to process all the transactions you have selected.
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Working with Recurring Transactions
To change a recurring transaction
To change a recurring transaction’s name or frequency, click the Use Recurring button in a
transaction window, select the transaction and click the Edit Frequency button.
To change the detail (memo, accounts, amounts, etc.) of a transaction, wait until the next
time you need to use it. When it is displayed, change it before recording. The next time you
use the recurring transaction, the new detail will be displayed.
To delete a recurring transaction
To delete a recurring transaction from your list, click the Use Recurring button in a
transaction window, select the transaction, and click the Delete button.
Deleting a recurring transaction only removes it from your list of recurring transactions. All
actual transactions recorded previously using the recurring transaction are not affected.
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CHAPTER
9
Paying Your Employees
Payroll is one area of business that has to be correct every time. Unlike many other areas of
business where errors can be adjusted at a later date, employees immediately notice errors
in their paychecks.
Fortunately, the MYOB AccountEdge payroll system is capable of accurately calculating
pay for both wage and salary earners. It can calculate overtime rates, allowances, union
fees and other deductions, employer expenses, and accruals such as vacation and sick
leave, along with tax deductions. The system is also capable of paying employees via cash
or check, as well as printing attractive paychecks.
The MYOB AccountEdge payroll system is flexible because it allows you to create an
unlimited number of wage, deduction, accrual and expense categories which allows it to
keep track of payroll amounts for the most demanding businesses. These categories are
applied to an employee’s payroll information to form the default values for the employee’s
paycheck. If necessary, any default values can be overridden on the paycheck to ensure the
pay amounts are always correct.
As a rule, the MYOB AccountEdge payroll system is considered suitable for businesses with
anywhere between one and twenty employees, although larger businesses successfully use
the AccountEdge payroll system.
When you write a paycheck in AccountEdge, the system automatically updates your
accounting records; it keeps track of employees’ vacation accruals.
You can also count on AccountEdge to keep track of the payroll taxes you owe the
government, making your job easier when it’s time to file payroll taxes. And at year-end,
you can use AccountEdge to print out W-2 forms for your employees to use at tax time.
For more information, see ‘Starting a New Payroll Year’ on page 199.
Remember, if you are concerned about privacy issues, you can always use the
AccountEdge security features to restrict access to this and other areas of AccountEdge.
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Creating Payroll Categories
Creating Payroll Categories
See also Payroll>
Payroll
Categories
Overview> Creating
Payroll Categories in
the Learning Center.
A paycheck normally consists of five elements: wages, accruals, deductions, taxes and
employer expenses. Collectively, these elements are referred to as payroll categories. Before
you begin writing paychecks to employees, you’ll create the payroll categories that are used
by your business and then you’ll assign each employee the payroll categories that apply to
him or her. Then, when you use the Pay Employees window to pay an employee, the
payroll categories you’ve assigned to the employee will automatically determine the various
amounts that are associated with the paycheck.
If you set up your payroll using the Payroll Easy Setup Assistant, a set of payroll categories
was automatically created for you. It’s possible, however, that this default set of payroll
categories doesn’t fully suit your company’s payroll needs. If this is the case, you can create
the payroll categories you need.
Before you create payroll categories
Before you create payroll categories, you need to have loaded your tax tables and set up your
general payroll information in AccountEdge. For more information, see ‘Setting up Payroll
details’ on page 34.
Wage Categories
In MYOB AccountEdge, money paid to employees for labor or services is referred to as
wages. Wages are determined on an hourly, salary or other basis. Some examples of wages
are salary, bonus, commission and overtime. In addition, some other forms of payment,
such as some types of employee benefits, are also considered wages for tax purposes, and are
referred to as non-cash wages. Company car benefits, excess life insurance and incentive
travel costs are all examples of non-cash wages.
All types of employee payment, regardless of whether they’re based in cash, need to exist in
the MYOB AccountEdge system so you can pay your employees properly.
To create a Wage category
128
1
Go to the Payroll command center and click Payroll Categories. The Payroll Category
List window is displayed.
2
Click the Wages tab.
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Creating Payroll Categories
3
Click New. The Wages Information window is displayed. (For detailed field help, click
the Help button in this window.)
4
Enter a descriptive name for the wage in the Wages Name field.
5
Indicate whether the wage is paid on an hourly or salary basis.
6
If the wage is hourly, enter the rate of pay in the Pay Rate field.
7
Mark the Optional Account checkbox if you want to override the wages expense
account assigned to each employee in the Employee Payroll Information window.
Enter a different account in the Override Account field.
8
Mark the Non-Cash Wages checkbox if this wage represents non-cash wages.
9
Click the Employee button to assign this wage to specific employees. The Linked
Employees window for the wage is displayed.
10 Mark the Select column for every employee to whom you want to assign the wage and
click OK.
11 Click the Exempt button to indicate from which taxes and deductions this wage is
exempt. The Wages Exemptions window for the wage is displayed.
12 Mark the Exempt column for the taxes and deductions that should be exempt and click
OK.
13 When you have completed all the entries in the Wages Information window, click OK
to record the new wage.
Making changes to a wage category If you want to make changes to a wage category, see
‘Changing a Record’ on page 113. Alternatively, in the Learning Center, choose Payroll and
then click the topic To Change A Wage.
Deleting a wage category If you want to delete a wage category, see ‘Deleting a Record’ on
page 114. Alternatively, in the Learning Center, choose Payroll and then click the topic To
Remove A Wage.
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Creating Payroll Categories
Accrual categories
In MYOB AccountEdge, accruals are hours that accumulate on paychecks that help you pay
special wages, such as vacation pay or sick pay.
When you create an accrual in MYOB AccountEdge, you’ll link it to an hourly wage.
Whenever you pay that particular hourly wage, the accrual hours associated with that wage
will be automatically decreased the appropriate amount. For example, if you include a
week’s worth of vacation pay on an employee’s paycheck, that employee’s vacation accrual
will be decreased by the number of hours in one work week.
To create an Accrual category
1
Go to the Payroll command center and click Payroll Categories. The Payroll Category
List window is displayed.
2
Click the Accruals tab.
3
Click New. The Accrual Information window is displayed. (For detailed field help, click
the Help button in this window.)
4
Enter a descriptive name for the accrual in the Accrual Name field.
5
Choose the method by which you want accrual hours to be accumulated for this accrual
in the Type of Accrual field.
6
Choose whether you want accrual hours to be carried over to the next payroll year.
7
Enter the hourly wage to which you want to link this accrual in the Linked Wages
Category field.
8
Click the Employee button to assign this accrual to specific employees. The Linked
Employees window for the accrual is displayed.
9
Mark the Select column next to each employee to whom you want to assign the accrual.
Click OK when you have finished.
10 If you’ve chosen a percentage of Gross or Federal house as the basis for calculating the
accrual, you can click the Exempt button display the Accruals Exemptions window.
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Mark the Exempt column next to each hourly wage category you’d like excluded when
this entitlement is calculated. Click OK when you’re finished.
11 Mark the Exempt column for the wage categories that should be exempt and click OK.
12 When you have completed all the entries in the Accrual Information window, click OK
to record the new accrual.
Making changes to an accrual category If you want to make changes to an accrual
category, see ‘Changing a Record’ on page 113. Alternatively, in the Learning Center,
choose Payroll and then click the topic To Change An Accrual.
Deleting an accrual category If you want to delete an accrual category, see ‘Deleting a
Record’ on page 114. Alternatively, in the Learning Center, choose Payroll and then click
the topic To Remove An Accrual.
Deduction categories
In MYOB AccountEdge, deductions are any amounts other than taxes that are subtracted
from an employee’s gross pay.
To create a Deduction category
User Guide
1
Go to the Payroll command center and click Payroll Categories. The Payroll Category
List window is displayed.
2
Click the Deductions tab.
3
Click New. The Deduction Information window is displayed. (For detailed field help,
click the Help button in this window.)
4
Enter a descriptive name for the deduction in the Deduction Name field.
5
Enter the account you want to use to track the amounts withheld for this deduction in
the Linked Payable Account field.
6
Choose the deduction type and enter a rate for the deduction, if any, in the Type of
Deduction fields.
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Creating Payroll Categories
7
Enter the maximum amount that can be withheld for this deduction in the Deduction
Limit fields.
8
Click the Employee button. The Linked Employees window for the deduction is
displayed.
9
Mark the Select column for every employee that you want to assign the deduction to
and click OK.
10 Click the Exempt button to indicate from which taxes this deduction is exempt. The
Deduction Exemptions window for the wage is displayed.
11 Mark the Exempt column for the taxes that should be exempt and click OK.
12 Click OK to record the new deduction.
Making changes to a deduction category If you want to make changes to a deduction
category, see ‘Changing a Record’ on page 113. Alternatively, in the Learning Center,
choose Payroll and then click the topic To Change A Deduction.
Deleting a deduction category If you want to delete a deduction category, see ‘Deleting a
Record’ on page 114. Alternatively, in the Learning Center, choose Payroll and then click
the topic To Remove A Deduction.
Employer Expense categories
In MYOB AccountEdge, employer expenses are your company’s costs of having employees.
Employer expenses are calculated on employees’ paychecks, but they don’t affect the
employees’ net pay; instead, they affect the amounts you must contribute to the employee
(such as pension contributions), to the government or to other institutions.
To create an Employer Expense category
132
1
Go to the Payroll command center and click Payroll Categories. The Payroll Category
List window is displayed.
2
Click the Expenses tab.
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Chapter 9 Paying Your Employees
Creating Payroll Categories
3
Click New. The Employer Expense Information window is displayed. (For detailed
field help, click the Help button in this window.)
4
Enter a descriptive name for the employer expense in the Employer Expense Name
field.
5
Enter the accounts you want to use to track the amounts withheld by this employer
expense in the Linked Expense Account and Linked Payable Account fields.
6
Choose the type of employer expense you’d like to create in the Type of Expense field.
•
•
If you selected Other in the Type of Expense field, choose the rate by which this
expense is calculated in the Expense Basis field. Enter the maximum amount that
can be withheld for this expense in the Expense Limit field.
If you selected SUI or SDI in the Type of Expense field, enter information in the
State Code, State Tax ID and SUI Rate or SDI Rate fields.
7
Click the Employee button if you want to assign the new employer expense to specific
employees. The Linked Employees window for the employer expense is displayed.
Mark the Select column next to each employee to whom you want to assign the
employer expense. Click OK when you have finished.
8
If you selected Other in Step 6, click the Exempt button to indicate which wages should
not be assigned to this employer expense. The Employer Expense Exemptions window
for the wage appears. Mark the Exempt column next to the wages that should be
exempt. Click OK when you have finished.
9
Click OK to record the new employer expense.
Making changes to an employer expense category If you want to make changes to an
employer expense category, see ‘Changing a Record’ on page 113. Alternatively, in the
Learning Center, choose Payroll and then click the topic To Change An Employer Expense.
Deleting an employer expense category If you want to delete an employer expense
category, see ‘Deleting a Record’ on page 114. Alternatively, in the Learning Center, choose
Payroll and then click the topic To Remove An Employer Expense.
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Creating Payroll Categories
Understanding Payroll Taxes
In AccountEdge, payroll taxes are amounts that are calculated and deducted from employee
paychecks based on laws established by government taxation authorities. Payroll taxes
must be assigned to employees before they can be used on paychecks.
Since tax laws change frequently, it's important that you use the most up-to-date payroll tax
amounts and percentages when you write your paychecks. To keep your payroll tax
calculations up-to-date, payroll taxes are administered in AccountEdge by the use of special
tax tables, which are included in your AccountEdge package.
To determine the date of the payroll tax tables
1
Go to the Payroll command center and click Payroll Categories. The Payroll Category
List window is displayed.
2
Click the Taxes tab. A list of taxes is displayed.
3
Click the zoom arrow next to any tax in the list. The Tax Table Information window is
displayed, and the Tax Table Revision Date is shown.
Since the accuracy of your payroll records is at stake, you cannot add, change or remove any
payroll taxes from the tax tables in AccountEdge. However, you can receive the latest tables
from AccountEdge automatically for a modest fee, whenever payroll tax laws change.
Some of the payroll taxes in the AccountEdge system have special rules or situations that are
difficult to represent in the tax table format. For more information, in the Learning Center,
choose Payroll> Payroll Categories Overview> Understanding Payroll Taxes> Tax Table
Information window. If you ever see this table “empty” when you think some numbers and
percentages should be displayed, don’t worry; the proper tax information does exist—it just
cannot be shown in the window.
Visit us at http:// www.myob.com/us/service/techsupport/ to learn more about
updating your payroll taxes.
Assigning payroll taxes to employees
Payroll taxes must be assigned to employees before they can be used on paychecks. For
more information, see ‘To enter payroll information’ on page 36.
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Paying Your Employees
Paying your Employees
Paying your Employees
In MYOB AccountEdge, paychecks are transactions that you use to pay your employees. Like
regular checks, paychecks can affect your company’s checking accounts, credit card
accounts, petty cash accounts and other cash accounts. Many companies, however, use a
special payroll checking account from which they pay their employees.
To write a paycheck, you will complete the following steps:
•
•
•
•
•
•
Select the account you will be using to write the paycheck
Enter the employee’s name
Review the paycheck information
Distribute vacation and sick pay (optional)
Distribute other types of wages (optional)
Complete the paycheck
Before you write paychecks
Creating paychecks in AccountEdge is a quick and simple process—if you’ve taken the time
to carefully set up your company’s payroll information.
If you haven’t done so already, you need to set up your company’s payroll information in
AccountEdge and create employee cards and payroll categories. For more information, see
‘Setting up Payroll details’ on page 34, and ‘Creating Payroll Categories’ on page 128.
Step 1 – Select the account for the paycheck
1
Go to the Payroll command center and choose Pay Employees. The Pay Employees
window is displayed.
2
Click the search icon next to the Account field and select the checking account that
will be used for this check. Only accounts you’ve specifically designated as checking
accounts or credit card accounts are displayed in the list.
Step 2 – Enter the employee’s name
¨ Enter the employee’s name in the Employee field or click the search icon and select the
employee’s card from the Cards List.
When you enter the employee’s name, AccountEdge automatically calculates all the
employee’s wages, deductions, accruals, employer expenses and payroll
taxes—collectively known as payroll categories—and displays the appropriate amounts in
the Pay Employees window.
As part of this step, also check that the date, check number and memo that AccountEdge
has automatically generated for this paycheck are correct. You can change them if you
want.
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Paying your Employees
Step 3 – Review the paycheck information
All payroll categories assigned to the employee are displayed in the scrolling list at the
bottom of the window, as shown in the example below.
If the employee is paid on an hourly basis, enter the number of hours he or she worked
for each of the wage categories assigned to him or her. The payroll categories’ amounts
are calculated automatically and displayed in the Amount column of the scrolling list.
Carefully review the information displayed in the scrolling list. It’s important to make
sure that this information is correct before the paycheck is recorded. For more
information, in the Learning Center, choose Payroll> Paychecks Overview> Writing
Paychecks> Review The Paycheck Information That Appears Automatically.
Step 4 – Distribute vacation and sick pay (optional)
You can distribute vacation or sick pay accrual wages on an employee’s paycheck. To do
this, you should have already created accruals for your employee’s sick or vacation time. See
‘To create an Accrual category’ on page 130 for more information.
1
Enter the number of sick or vacation hours in the Hours column of the accrual wage.
The amount that appears in the Amount column will be calculated automatically.
When you record the transaction, the hours you entered will be subtracted from the
number of hours the employee has accrued.
2
If you’re distributing wages for an accrual such as sick pay, you may also need to change
the employee’s regular hourly wage hours or amounts.
Step 5 – Distribute other types of wages (optional)
You can include other types of pay, such as sales commissions, bonuses or non-cash wages
on an employee’s paycheck. To perform this step, the wages you intend to pay should
already exist in AccountEdge, and should be assigned to the employee. For example, if you
want to pay a bonus to the employee, a wage called “Bonus” must already exist in
AccountEdge and should be assigned to the employee.
For information on creating a wage category, see ‘To create a Wage category’ on page 128.
For information on assigning this wage category to an employee, see ‘To enter payroll
information’ on page 36.
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Paying your Employees
Step 6 – Complete the paycheck
When you have completed all entries in the Pay Employees window, there are a number of
tasks you can perform with the transaction. Review all the options before you choose what
you want to do.
•
•
•
Print and record the paycheck. Click the Print button. The paycheck will be
recorded before it is printed. For more information on printing paychecks, see
‘Printing paychecks’ below.
Record the paycheck. To record the paycheck without printing it, click the Record
button.
Store the paycheck as recurring so that you can use it many times in the future.
Click the Save Recurring button. In the Save Recurring Template window, enter
the necessary information and click the Save Template button. (For more
information on creating and using recurring transactions, see ‘Working with
Recurring Transactions’ on page 124.)
Printing paychecks
You can choose to print a paycheck in the Pay Employees window at the time you enter the
paycheck or you can choose to print the paycheck at a later time. You can print and reprint
individual paychecks, or you can print several paychecks at the same time—the choice is
yours.
For more information on printing paychecks, see the Printing Forms chapter on page 163.
For detailed information, in the Learning Center, choose Payroll> Paychecks Overview>
Printing Paychecks.
For information on customizing the look of your printed paychecks, see ‘Customizing
Forms’ on page 167.
Changing, deleting or reversing a paycheck
Occasionally, you will find it necessary to make a change to a paycheck you’ve already
recorded. Unlike most other types of transactions in AccountEdge, once a paycheck is
recorded, you can’t change it directly. However, you can change a paycheck if you remove
or reverse the entire paycheck and then write a new paycheck that contains the correct
information.
There may be times when you simply want to remove a paycheck. When this is the case,
you can quickly remove the effects of such a transaction from your records.
An important point to consider is if the paycheck is changeable or unchangeable. If the
transaction is changeable, you can remove the check altogether from your ledger.
Unchangeable transactions work differently. By reversing an unchangeable paycheck, the
effects of the original will no longer be part of your ledger; however, a record of the reversed
check, called a reversing transaction, will remain. Then, you can enter a new, correct
transaction to replace the one you reversed.
When you remove a recurring paycheck, the paycheck is removed from your list of
recurring paychecks only. Any transactions you recorded using a recurring paycheck you
remove will not be affected.
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Paying your Employees
More information:
•
•
•
•
•
138
To change the name or frequency of a recurring paycheck, go to the Learning Center
and follow this path – Payroll> Paychecks Overview> Changing, Removing or Reversing
Paychecks> To Change A Recurring Paycheck’s Name Or Frequency.
To change a check’s line items and other information, go to the Learning Center and
follow this path – Payroll> Paychecks Overview> Changing, Removing or Reversing
Paychecks> To Change A Recurring Paycheck’s Line Items And Other Information.
To delete a check, go to the Learning Center and follow this path – Payroll> Paychecks
Overview> Changing, Removing or Reversing Paychecks> To Remove A Paycheck.
To delete a recurring paycheck, go to the Learning Center and follow this path
Payroll> Paychecks Overview> Changing, Removing or Reversing Paychecks> To Remove A
Recurring Paycheck.
To reverse a paycheck, go to the Learning Center and follow this path – Payroll>
Paychecks Overview> Changing, Removing or Reversing Paychecks> To Reverse A Paycheck.
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Chapter 9 Paying Your Employees
Reviewing Payroll Information
Reviewing Payroll Information
Keeping your payroll information up-to-date and accurate is a primary concern for all
businesses. AccountEdge contains a number of tools that help you gain a quick picture of
your payroll information.
•
•
•
The To Do List provides a quick way to review your transactions in AccountEdge,
including recurring checks, recurring deposits and other General Journal
transactions.
The Analyze Payroll window can help you understand the details of your payroll
information. It can help you spot possible inaccuracies in the amounts you’re
paying to and withholding from your employees. The Analyze Payroll window will
help you perform this important task by providing various summaries of your
employee’s payroll data.
With Find Transactions, you can perform a simple as well as an advanced search for
an account, card or payroll category. For more information, see ‘To find a
transaction using Find Transactions’ on page 118.
More information:
•
•
•
•
•
User Guide
To display a list of paychecks, go to the Learning Center and follow this path –
Payroll> Paychecks Overview> Reviewing Your Payroll Information> To Display A List Of
All Your Paychecks.
To display a list of recurring paychecks, go to the Learning Center and follow this
path – Payroll> Paychecks Overview> Reviewing Your Payroll Information> To Display A
List Of Recurring Paychecks.
To print a list of all paychecks, go to the Learning Center and follow this path –
Payroll> Paychecks Overview> Reviewing Your Payroll Information> To Print A List Of All
Your Paychecks.
To print a list of recurring paychecks, go to the Learning Center and follow this path
– Payroll> Paychecks Overview> Reviewing Your Payroll Information> To Print A List Of All
Your Recurring Paychecks.
To analyze the payroll activity, go to the Learning Center and follow this path –
Payroll> Paychecks Overview> Reviewing Your Payroll Information> To Analyze Your
Payroll Activity.
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Reviewing Payroll Information
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CHAPTER
10
Billing For Time
MYOB AccountEdge’s powerful Time Billing feature allows businesses to track employees’
and vendors’ time used to complete tasks and services (activities) for clients and
customers. It also allows businesses to track incidentals incurred in completing the work
(items). The Time Billing feature is an ideal solution for virtually any type of
business—businesses that predominantly sell time, such as accountants and lawyers and
businesses that sell both time and items such as interior designers and mechanics.
The Time Billing feature is very flexible. You can establish activity billing rates based on the
activity itself, such as consulting at $75 per hour and photocopying at 10 cents per copy. If
you prefer, you can establish activity billing rates based on an hourly charge-out rate for a
particular employee. For example, the employee John Smith’s hourly consulting rate may
be $120 per hour, and the subcontractor Acme Industries’ charge out rate may be $150
per hour. You can even set an underlying cost to the activity where, for example, you may
estimate that the hourly cost to employ Smith is $75 per hour, and Acme is $135 per hour.
All MYOB AccountEdge activities can be established as chargeable or non-chargeable. The
ability to track non-chargeable activities can be very useful for businesses that want to
record costs such as entertainment, which generally cannot be charged to the customer.
MYOB AccountEdge’s Time Billing makes it easy to enter and collate the activities
undertaken for customers. The activities can be entered individually or grouped together
into MYOB AccountEdge’s activity slips. The information can be quickly adjusted to
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 view the history of your activities in the Activity Log. You can use the Diary View,
which gives you the who, what and when of the activity, or the Detail View, which gives
you details of the amounts that were billed.
Time Billing reports can be extensively filtered to give you the information you want
included in the reports. These reports are a great management tool, allowing you to
closely monitor how you and your staff spend your time, and whether it is profitably spent.
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Chapter 10 Billing For Time
Setting Time Billing Preferences
Setting Time Billing Preferences
There are three preferences that should be set before you start billing for time in
AccountEdge.
•
•
•
The Special billing unit preference should be set when you want to bill units of
time of less than an hour.
The Rounding preference affects how you want elapsed time to be rounded.
The Include items preference should be set if you want to include items for sale on
Time Billing invoices.
Go to the Setup menu and choose Preferences. The System view of the Preferences
window is displayed. The preferences that apply to Time Billing are shown below. Set a
preference by marking the checkbox next to that preference.
Special billing units
Special billing units is a useful feature for organizations that need to track billable time in
special units of one minute, six, ten, twelve, fifteen or thirty 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 ten billing
units of time. Any activity slips you have already created will be updated to use the special
billing unit of time.
N O TE
Unit of Measurement shows as Hourly If you have set your preferences to use a special billing unit
of time, the unit of measurement for all hourly activities will still show as Hour in the Activity
Information window. This is because the billing unit is still based on an hour. Don’t change the Type for
your activities from Hourly to Non-hourly, because the special billing unit will be used when you create an
activity slip using an hourly activity.
Rounding time in Time Billing
Time Billing allows you to set a preference for how you want units of time to be rounded
when you use the Timer.
Choose to 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.
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Setting Time Billing Preferences
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 the Next and enter ‘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 Actual Units field.
N O TE
Minute Increment field If you have specified a special time billing unit and a rounding rule, the
Minute Increment field here is redundant and, therefore, is not displayed.
Including items on Time Billing invoices
This preference lets you include items on your Time Billing invoice and charge your
customers for both activities and items on a single invoice. If this preference is marked, the
selection list that appears in the Sales-Time Billing window includes both your activities
and items.
Note that only items for which you have selected the I Sell option in the Item Information
window will be included in the selection list.
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Chapter 10 Billing For Time
Setting Billing Rates
Setting Billing Rates
You can set billing rates that will automatically be displayed when you create an activity slip
(you can still override these rates when you create the activity slip). The billing rate can
either be a rate set for the customer, the employee or vendor, or for the activity itself.
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 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 the activity
You can set up a billing rate for each activity, regardless of the customer you are billing, or
the employee or vendor who performed the activity. The billing rate for an activity is set in
the Activity Information window. See “To create an activity” on page 145.
To set a billing rate for customers
You can set up a billing rate for customers in their card. This option is useful if you are
performing the same activities for multiple customers and want to charge each customer at
a different rate.
1
Display the Card Information window for the relevant customer and click the Selling
Details tab.
2
Enter the hourly billing rate excluding tax for the card in the Customer Billing Rate
field and click OK.
3
Set the activity to use the customer billing rate. See “To create an activity” on page 145.
To set a billing rate for vendors or employees
You can set a billing rate for an employee or vendor in their card. This option allows you to
bill an activity at different rates according to the employee or vendor performing the
activity. You can also track the costs associated with having the activity performed. This is
particularly useful if you are sub-contracting work to a vendor.
144
1
Display the vendor’s or employee’s Card Information window. Then do the following:
• Vendor cards—click the Buying Details tab.
• Employee cards—click the Payroll Details tab and then click the Time Billing
button.
2
Enter the hourly billing rate excluding tax for the card in the Vendor Billing Rate field
or the Employee Billing Rate field.
3
Enter the hourly cost to you of having this activity performed in the Cost per Hour
field.
4
Click OK.
5
Set the activity to use the employee or vendor billing rate. See “To create an activity” on
page 145.
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Chapter 10 Billing For Time
Creating Activities
Creating Activities
See also Time
Billing> Time
Billing Activities
Overview in the
Learning Center.
In MYOB AccountEdge terms, the word activity is used to describe a task or service provided
by your company for which you can track costs and bill customers on Time Billing invoices.
Activities are primarily defined by their type—hourly or non-hourly—and by their
status—chargeable or non-chargeable.
To create an activity
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
display as Hour, but
time will be billed
according to the
special billing unit.
1
Go to the Time Billing command center and click Activities List. The Activities List
window is displayed.
2
Click the New button. The Activity Information window is displayed.
3
In the Profile view, enter an Activity ID and Activity Name.
4
Enter a description of the activity. Mark the Use Description on Sales checkbox if you
want the description of the activity to appear in the Sales-New Time Billing window
instead of the activity name. For more information about this window, click the Help
button.
5
Specify the type (Hourly or Non-hourly) and status (Chargeable or Non-chargeable) of
the activity by selecting the appropriate radio buttons. If it is:
• an hourly, chargeable activity, 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 in the employee or vendor card,
- use the rate you set up in the customer card, or
- specify a rate for this activity only. Enter the rate in the Activity Rate field.
• an hourly, non-chargeable activity, go to Step 8.
• a non-hourly, chargeable activity, enter a unit of measurement in the Unit of
Measurement field and activity rate in the Activity Rate field.
• a non-hourly, non-chargeable activity, specify the unit of measurement in the
Unit of Measurement field and then go to Step 8.
6
In the Income Account field, specify the account you want to use to track the income
you receive for this activity.
7
Mark the Taxable when Sold checkbox if this activity is taxable.
8
Complete the record. If this is:
a chargeable activity, you can either
- edit the history of the activity (click the History tab and click the Help button in
that window for more information), or
- complete the record by clicking OK. The new activity will now be listed in the
Activities List window.
• a non-chargeable activity, 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 113.
To inactivate an activity, see “Inactivating/Reactivating a Record” on page 116.
To remove an activity from your records, see “Deleting a Record” on page 114.
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Chapter 10 Billing For Time
Creating Activity Slips
Creating Activity Slips
See also Time
Billing> Activity
Slips Overview in the
Learning Center.
Activity slips are used to record activities performed for a customer and forms the basis for
the bills you send your customer. You can bill the full amount for the activity, or bill part of
it, leaving the balance for a later date.
Time Billing gives you two options for creating an activity slip:
•
•
creating a single activity slip, which allows you to enter the most detail about the
activity slip, or
creating multiple activity slips, which allows you to enter multiple activity slips at
once for an employee, while not entering quite as much detail for each.
When you create an activity slip, you can enter two cards: one for the employee or vendor
who performed the activity for your company, and the other for the customer for whom
your company performed the activity. If you’re creating an activity slip for a chargeable
activity, you must enter both cards.
To create a single activity slip
1
Go to the Time Billing command center and click Enter Activity Slip.
2
In the Single Slip Entry view, enter details about the activity, such as the name of the
employee who performed the activity, the name of the customer for whom the activity
was performed, the activity ID number and the number of units to be charged. Click the
Help button for a detailed description of the fields in this window.
3
Enter any adjustments in the Adjustment fields: enter the number of units of the
adjustment in the first field. You can overwrite the amount of the adjustment that
automatically appears in the second field.
You can enter adjustment units or amounts as negative numbers if you want to indicate
fewer hours or a lesser amount.
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Creating Activity Slips
4
Enter any already billed amounts. If you have partially billed the customer on an
invoice for this activity, enter the number of units already billed, in the first Already
billed field. (You can overwrite the amount that appears in the second field.) Your entry
is subtracted from the Billable units and amount. The total units and amount that
haven’t been billed yet appear in the Left To Bill fields.
N O TE
Billing an activity In AccountEdge, “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, but is only recorded for
the activity slip.
5
Click Record. The activity slip is now recorded and will appear on reports. If you entered
a chargeable activity on the activity slip, it will be available for billing using the Prepare
Time Billing Invoice window.
Note that you can record an activity slip by changing views. If you click the Multiple
Slip Entry tab while creating an activity slip and you’ve entered the minimum required
information in the Single Slip Entry view, the activity slip will be recorded before the
new tab is displayed.
To create a single activity slip using the timer
The Enter Activity Slip window has a timer feature which 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 unnecessary duplication of data
entry. The timer is displayed on activity slips for hourly activities only.
To use the timer, you must leave the Enter Activity Slip window open until completion of
the activity. You can still use other applications or other windows in AccountEdge during
this time.
1
Go to the Time Billing command center and click Enter Activity Slip. The Enter
Activity Slip window is displayed.
2
Enter the required details of the activity slip such as the date, customer name and
activity name. Click the Help button for detailed field help.
3
Click the Start button to start the timer. If you haven’t entered a start time in the Start
Time field, your computer’s current system time appears, and the timer begins ticking
in the Elapsed Time field.
N O TE
Entering a start time before current system time If you’ve entered 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 the Start button at 9:00 a.m., 1:00:00
will be displayed in the Elapsed Time field and the time calculated by the timer will be added to that
amount.
4
User Guide
Leave the Enter Activity Slip window open as you perform the activity; this allows the
timer to track the time you’ve worked in the Elapsed Time field.
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Chapter 10 Billing For Time
Creating Activity Slips
5
Click the Stop button to stop the timer when you have completed the activity or want
to pause the timer. The current system time appears in the Stop Time field. The elapsed
time is entered 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
Actual Units field
automatically. See
‘Rounding time in
Time Billing’ on
page 142.
6
If you want to resume timing an activity, click the Start button again. The entry in the
Stop Time field will be cleared. The timer will continue ticking, starting from your
current elapsed time.
7
Click Record to record the timed activity when you have completed it.
To reset the timer
Click the Clear button at any time to clear the Elapsed Time, Start Time and Stop Time
fields and set the Units field to zero.
To create multiple activity slips
In addition to being able to create single activity slips in Time Billing, you can also create
multiple activity slips together. In the Multiple Slip Entry view of the Enter Activity Slip
window, one line in the list represents one activity slip. Although this view allows you to
enter a little less detail on the activity slip, you can still view any activity slip in Single Slip
Entry view and enter more detail at a later stage.
1
Go to the Time Billing command center and click Enter Activity Slip. The Enter
Activity Slip window is displayed.
2
Click the Multiple Slip Entry tab. (For detailed field help, click the Help button.)
3
Enter the name of the employee (or vendor) performing the activity in the Employee
field. Any historical activity slips you have created for the employee/vendor are listed,
each line representing a single activity slip.
4
On the first blank line, enter details of the activity slip you want to create.
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 for the employee (or vendor)
you entered in the Employee (or Vendor) field.
N O TE
Once you have entered
an activity slip and pressed TAB to move to the next line, the activity slip is recorded. If you click
Cancel after moving to the next line, the first activity slip is still recorded. A white zoom arrow
displayed beside an activity slip indicates that the activity slip has been recorded.
Activity slips are recorded as you create them, on a line per line basis
6
148
Follow Step 4 and Step 5 for each activity slip you want to create. When you’ve entered
and recorded all the activity slips you want to create, click Cancel to close the window.
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Working with Activity Slips
Working with Activity Slips
If you record many activity slips, it’s likely that you will want to review, make changes to or
delete an activity slip at some point. Follow the relevant set of instructions below.
To find and review an activity slip
1
Go to the Time Billing command center and click Activity Log. The View Activity Log
window is displayed.
2
Enter the name of the employee or vendor who performed the activity and, if you know
it, the date range within which the activity was recorded. All activities that fit the
criteria are listed.
3
Click the Diary View tab and the Detail View tab to display different types of
information about the activity slip. Click the zoom arrow next to an activity slip to view
it in the Enter Activity Slip window.
To change an activity slip
1
Find the activity slip in the View Activity Log window (see above) and click the zoom
arrow next to the activity slip you want to change.
2
Make the required changes either in the Single Slip Entry view or the Multiple Slip
Entry view and click OK or Record.
To delete an activity slip
You can only delete an activity slip that has not been billed yet.
User Guide
1
Find and select the activity slip you want to delete in the View Activity Log window
(see ‘To find and review an activity slip’ above).
2
Go to the Edit menu and choose Delete Activity Slip.
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Creating Time Billing Invoices
Creating Time Billing Invoices
There are two ways of creating a Time Billing invoice in AccountEdge:
•
•
in the Prepare Time Billing Invoice window. This is the recommended way, as full
details of activities and activity slips are recorded. See below.
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 “To create a Time Billing invoice in
the Sales window” on page 152.
To create a Time Billing invoice
The Prepare Time Billing Invoice window allows you to enter and adjust the billing
information for activity slips just as you would in the Enter Activity Slip window. As you
make changes in the Prepare Time Billing Invoice window, your activity slip records are
updated automatically.
1
Go to the Time Billing command center and click Prepare Time Billing Invoice.
2
Highlight the customer for whom you want to create a Time Billing invoice and click
OK. The Prepare Time Billing Invoice window is displayed, listing all the open activity
slips for the selected customer.
3
Prepare the invoice.
A
B
C
D
150
A Filters
Use these filters to find the required activity slip(s). Click the Help button for a
description of these fields.
B Bill
Enter 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 for each activity slip here.
D Print Options
Mark the relevant checkbox 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.
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Creating Time Billing Invoices
4
You can enter items
on this invoice only if
you have set the
Include items
preference. See
“Including items on
Time Billing invoices”
on page 143.
5
Click the Prepare Invoice button. The Sales-New Time Billing window displays the
details of the Time Billing invoice.
If you are selling items on this invoice, enter the following details for each item:
•
•
•
•
•
Enter the date in the Date field.
Enter the quantity being sold in the Hrs/Units field.
Enter the item number in the Activity field or press TAB and select the item from the
list of items and activities that is displayed.
Enter the price of the item in the Rate field.
Enter the job number. Mark the Tx column if the item is taxable.
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 as shown below. For more
information, see “Adding lines, subtotals and headers to invoices” on page 66.
6
7
Enter additional information about the sale, such as the salesperson, referral source and
shipping method. For detailed field help, click the Help button.
Decide what you want to do with the invoice.
Record the invoice. Click the Record button to record the invoice but print it later.
Print and record the invoice. Click the Print button. For more information about
printing invoices, see the Printing Forms chapter on page 163.
• Store the invoice as a recurring template (see note below). Click the Save
Recurring button. Enter the necessary information about the template in the Save
Recurring Template window and click Save Template. For more information about
recurring transactions, see “Working with Recurring Transactions” on page 124.
•
•
N O TE
Storing Time Billing invoices as recurring You can store Time Billing invoices as recurring invoices,
but no activity slips will be created when you use the recurring sale in the future. Recording the recurring
sale also won’t update the activity slips you used to create the invoice in the Prepare Time Billing Invoice
window.
User Guide
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Tracking Work in Progress
To create a Time Billing invoice in the Sales window
1
Go to the Sales command center and click Enter Sales. The Sales window is displayed.
2
Click the Layout button and select the Time Billing layout.
3
Choose the customer you want to invoice in the Customer field.
4
In the scrolling list, enter the following details for each activity that you are billing the
customer:
• Enter the date the activity was performed,
• Enter the number of units or hours being billed in the Hrs/Units field.
• Enter the activity name or press TAB in the Activity field and select the required
activity from the list.
• Enter the rate charged for a single unit or hour of the activity in the Rate field.
• Enter the job number. Mark the Tx column if the activity is taxable.
5
If you are selling items on this invoice, enter the details of each item in the scrolling list.
Complete this step and the rest of the invoice following Step 5 - Step 7 of ‘To create a
Time Billing invoice’ (see page 151).
Tracking Work in Progress
Work you’ve done for your clients that you haven’t billed yet is called work in progress.
In AccountEdge, work in progress is represented by activity slips for chargeable activities
you haven’t yet included on Time Billing invoices. Any activity slip that doesn’t have $0.00
or 0 units left to bill is considered work in progress.
When you bill your clients on Time Billing invoices, your accounting records will reflect the
sales transactions for the activities you’ve performed. However, from an accounting
perspective, some accountants consider that your clients owe you for your work in progress,
even if you haven’t yet billed your clients for it.
To adjust your accounting records to reflect work in progress
Activity slips are MYOB AccountEdge’s records of work in progress, but they don’t
automatically reflect the value of your work in progress. Accounting entries are assigned to
your linked accounts automatically only when activity slips are billed on a Time Billing
invoice. If your work in progress routinely represents a significant amount of money, you
should consider adjusting your accounting records to reflect it.
For detailed instructions on how to adjust your books to reflect work in progress, in the
Learning Center, choose Time Billing and click the topic To adjust your books to reflect work in
progress.
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CHAPTER
11
Recording International
Transactions
In MYOB AccountEdge, you can enter transactions in a number of currencies in addition to
your home currency, the U.S. dollar. The multicurrency features make it easy to record
transactions in dollars, pounds, yen or any other currency you use when buying and selling
goods and services. MYOB AccountEdge also makes it easy to track overseas checking
accounts and foreign assets and liabilities.
If you deal in multiple currencies, it’s also important to track the effects of currency
exchange rates on your business. AccountEdge provides detailed reports to help you
manage both unrealized gains and losses (potential changes in the value of overseas
transactions) and realized gains and losses (the actual changes in the value of your assets,
liabilities and equity that occur when you exchange foreign currency for U.S. dollars).
Multicurrency is optional; if all your business is conducted with customers and vendors in
the United States using dollars, there's no need for you to take advantage of this feature. If
you do want to use multicurrency, you'll need to mark the I Deal in Multiple Currencies
option in the System view of the Preferences window.
You'll also have to perform a number of setup steps, which are described in this chapter.
For example, you'll have to set up special accounts to track the transactions you make in
each currency. If you plan to make sales in pounds, for instance, you'll need to create a
separate Accounts Receivable account for your sales to customers in the United Kingdom.
Every foreign currency account you create will require a companion account known as an
exchange account to track changes in the value of the transactions assigned to the account.
Only Balance Sheet accounts—asset, liability and equity accounts—can be assigned a
foreign currency. All other types of accounts are tracked using U.S. dollars.
Your local currency, the U.S. dollar, is set up automatically for you. As this currency is used
to determine the value of all other currencies, it can't be deleted, and its exchange value is
fixed at 1. Before you begin entering transactions, you'll also need to specify the proper
currency for all your overseas customers and vendors. Only one currency can be used for
each customer or vendor (unless you choose to set up multiple cards for them); this
ensures that your records remain accurate, and it speeds transaction entry.
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Setting up Multicurrency
Setting up Multicurrency
See also
Multicurrency>
Multicurrency
Overview in the
Learning Center.
You must complete a number of steps before you begin recording multicurrency
transactions in MYOB AccountEdge. Once setup is complete, you'll enter multicurrency
transactions the same way you enter transactions based on U.S. dollars.
Step 1 – Select the multicurrency option
1
Go to the Setup menu and choose Preferences. The Preferences window is displayed.
2
Mark the I Deal in Multiple Currencies (System-wide) checkbox in the System tab.
Note that you cannot unmark this option once it has been selected.
3
Click OK.
Step 2 – Set up records for foreign currencies
MYOB AccountEdge provides you with records for several commonly used foreign
currencies as well as your local currency. The following currencies have been set up for you
already:
United States dollar, Mexican nuevo peso, Canadian dollar, European Union euro, Great
Britain pound, Australian dollar, Hong Kong dollar, Japanese yen and New Zealand dollar.
If you do business in any other currency, you'll need to create a new record for the currency,
enter its current exchange rate and indicate how you want amounts in that currency to be
displayed. Follow the instructions below.
1
Go to the Lists menu and choose Currency List. The Currency List window is
displayed.
2
Click New. The Currency Information window is displayed.
3
Enter details of the currency, such as a code, name, and current exchange rate. For
detailed field help, click the Help button in this window.
Step 3 – Create accounts to track foreign-currency transactions
In order to track transactions in a foreign currency properly, you must create a number of
accounts that are set up to use that currency rather than U.S. dollars. You cannot simply use
the same accounts you use for your U.S. dollar transactions, because the dollar and other
currencies rarely trade at par with one another (that is, one dollar rarely buys exactly one
monetary unit in any other currency).
Note about foreign currency exchange accounts
For every foreign currency account you create, MYOB AccountEdge will automatically
create a linked exchange account. For example, if you create a Yen checking account,
AccountEdge will create a Yen Exchange account. AccountEdge uses these ‘dual accounts’ so
that both the foreign currency amount and the local currency equivalent of a transaction
can be viewed in your Balance Sheet.
Note that you can let AccountEdge create the linked Exchange account for you or you can
specify one yourself. To create an account, see “To add new accounts to your Accounts List”
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Setting up Multicurrency
on page 111. You will need to select the correct currency and exchange account in the
Account Information window.
Before you create an account, however, we suggest you review the following sections to get
an understanding of the accounts you need to create.
If you make foreign sales
Here's a list of the accounts you're likely to need if you accept payment from customers in a
foreign currency. Exchange accounts are also required for each of these accounts.
•
•
•
Asset account for tracking receivables (for instance, “Accounts Receivable -New
Zealand”). This account must be assigned the foreign currency and not the U.S.
dollar.
Checking account where customer receipts in the foreign currency will be deposited.
This can be a U.S. funds 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 the U.S. dollar.
N O TE
Grouping with undeposited funds Only receipt transactions which are in U.S. currency may be
grouped as a deposit of undeposited funds. Also, you may only use a U.S. currency account as the linked
account for undeposited funds.
If you make foreign purchases
Here's a list of the accounts you're likely to need if you make payments to vendors in a
foreign currency. Exchange accounts are also required for each of these accounts.
•
•
•
•
Liability account for tracking payables (for instance, “Accounts Payable -Hong
Kong”). This account must be assigned the foreign currency and not the U.S. dollar.
Checking account that will be used to pay debts in a foreign currency. This can be a
U.S. funds account if your bank writes checks for you in other currencies.
Asset account for deposits paid (if you make deposits on orders). This account can be
assigned the currency code for either the foreign currency or the U.S. dollar.
Liability account for import duties collected (if you're required to pay duty on goods
you import). This account can be assigned the currency code for either the foreign
currency or the U.S. dollar.
If you track unrealized gains and losses
If you plan to track unrealized gains and losses, you need to create an income account for
this purpose. You may want to name it “Unrealized Currency Gain/Loss” or something
similar. We recommend that you consult your accountant to determine whether your
business needs to track unrealized gains and losses and, if you do, the most appropriate way
for you to do so. See “Tracking Currency Gains and Losses” on page 158 for more
information.
User Guide
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Chapter 11 Recording International Transactions
Setting up Multicurrency
Depending upon your business, you may need to create additional accounts to track foreign
checking accounts, assets held overseas and the like. If you're unsure about the accounts
you'll need, your accountant or an MYOB Certified Consultant can assist you with this task.
Step 4 – Assign accounts to foreign currencies
1
Go to the Lists menu and choose Currency List. The Currency List window is
displayed.
2
Click the zoom arrow next to the currency to which you want to assign accounts. The
Currency Information window is displayed.
3
Select the required tab. Click:
the Receivable Accounts tab if customers pay you in this currency.
the Payable Accounts tab if you pay vendors in this currency.
•
•
4
Enter the relevant accounts in the appropriate fields. In the bottom section of the
window, mark the options that apply to your business. As you mark options, additional
fields will appear, and you can enter the accounts you'll use to track various parts of your
transactions, such as freight, deposits and discounts. For detailed field help, click the
Help button in this window.
5
Repeat this procedure for each currency for which you want to assign accounts.
Step 5 – Assign appropriate currencies to foreign customers and vendors
The currency used to make a transaction is determined by the currency assigned to the
customer or vendor card you are using.
A card can only use a single currency; so if you deal with a customer or vendor in multiple
currencies, you will need to create a separate card for each currency.
N O TE
A card with transactions You can’t change the currency of a card that you have already used in
transactions. You will need to create a new card for the customer or vendor.
You can link any type of card to a currency. Any transactions recorded for a card must be in
the currency linked to the card.
156
1
Go to the Card File command center and click Cards List. The Cards List is displayed.
2
Click the zoom arrow next to the required card to display the Card Information
window. Make sure the Profile tab is selected.
3
Enter the currency you want to assign to the card in the Currency field. (The local
currency is selected by default.) Click the search icon to make a selection from the
currency list.
4
Click OK. Repeat this procedure for each card that you want to assign a foreign currency.
MYOB AccountEdge, Version 2.0 us
Chapter 11 Recording International Transactions
Creating Multicurrency Transactions
Creating Multicurrency Transactions
Once you've set up your currencies, you can begin entering transactions for them. Entering
these transactions is easy—they're just like standard transactions in U.S. dollars.
Multicurrency transactions can be recorded in the following areas in MYOB AccountEdge:
•
•
•
Sales, Receive Payments, Settle Returns & Credits
Purchases, Pay Bills, Settle Returns & Debits
Spend Money, Receive Money, Reconcile Accounts and General Journal entries.
Note that multicurrency is not available for Payroll, Inventory or Time Billing functions.
Specifying the exchange rate for a transaction
When entering a transaction, you can either use the default exchange rate for the currency
or enter a new rate for that transaction, which will override the default.
To change the default exchange rate
1
Calculate the exchange rate first using the Currency Calculator. See “Using the Currency
Calculator” on page 160.
2
Click the Exchange Rate button at the bottom of the transaction window. The
Exchange Rate window is displayed.
3
Enter the new exchange rate in the Transaction Exchange Rate field.
This will only affect the transaction that is currently displayed.
If you want to change the exchange rate for all future transactions that use this
currency, mark the Update Current Exchange Rate in the Currency List with
Transaction Exchange Rate checkbox.
4
User Guide
Click OK.
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Chapter 11 Recording International Transactions
Tracking Currency Gains and Losses
Tracking Currency Gains and Losses
Whenever you have a foreign bank account, changes in the currency exchange rates
between that country and your home country can cause the value (as stated in your home
currency) of your foreign bank 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 value. Multicurrency can track these fluctuations.
Gains or losses in the value of a foreign account are considered unrealized while the money
is still sitting in the foreign account. 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 realized.
Tracking realized currency gains and losses
Realized currency gains and losses are tracked differently in AccountEdge. For realized gains
or losses on sales and purchases, a posting is automatically made to the Currency Gain Loss
account, whereas for realized currency gains and losses on transfers—deposits and
withdrawals—you need to make a General Journal entry to the Currency Gain Loss account
to record the currency gain or loss.
When you activate multicurrency in AccountEdge, a Currency Gain Loss account is
automatically created.
N O TE
Large foreign currency exposure If you have a large foreign currency exposure, you may require a
more detailed analysis than posting to a single Realized Gains/Losses account provides. In this case, we
recommend that you consult your accountant for further advice about managing your foreign currency
exposure.
Sales & Purchases
At the time a currency gain or loss is realized, 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 Realized Gain/Loss report lists the currency gains and losses that have been
automatically posted through sales and purchases during the month for foreign currency
transactions.
EXAMPLE
Say you sell goods for $145 U.S. at an exchange rate of 1.45 dollars to the pound to a British
customer. MYOB AccountEdge records the sale at $145 and records the £100 owed by the
British customer. Using MYOB AccountEdge’s dual accounting system, MYOB AccountEdge
posts $100 to the British receivables account (which is actually $100 on the Balance Sheet),
$45 to the British receivables exchange account and $145 to the sales account.
The following month the British customer pays their account by depositing £100 into your
London Checking account, but the exchange rate has changed from 1.45 to 1.3. dollars to
the pound. MYOB AccountEdge values the deposit at $130.
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Tracking Currency Gains and Losses
You originally made a sale that at the time was worth $145. When you received payment, it
was worth only $130. Therefore the $15 difference is a realized currency loss, and will be
posted to the British Receivables exchange account.
Transfers
Currency gains and losses that occur through the transfer of funds need to be recorded by a
General Journal entry.
At the end of the month, you can look at the value of your foreign accounts and use MYOB
AccountEdge’s Currency Calculator (from the Help menu) 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 with a corresponding credit to your Currency Gain Loss account.
E X AM P L E
Say the original balance in your London Checking account is zero; then you transfer $145
U.S. at an exchange rate of 1.45 dollars to the pound into your London Checking account.
AccountEdge converts the $145 to £100 and deposits it into your London Checking
account. Using its dual account system, AccountEdge posts $100 to the London Checking
account (which is shown as $100 on the balance sheet), and $45 to the London Checking
exchange account.
The following week you withdraw that £100 from the bank at an exchange rate of 1.4
dollars to the pound. AccountEdge values the withdrawal at $140. You put £100 into the
account that at the time was worth $145. When you withdrew the £100 from the account,
it was worth only $140. Therefore, the $5 difference is a realized currency loss.
If you looked at your Balance Sheet, you would see a zero value for the London Checking
account, but $5 remaining in the London Checking exchange account. You need to post the
$5 in the exchange account to your Currency Gain Loss account.
Unrealized currency gains and losses
See also
Multicurrency>
Multicurrency
Overview> Recording
unrealized gains and
losses in the Learning
Center.
User Guide
An unrealized gain or loss is a potential gain or loss at any point in time between the
recorded sale or purchase and the receipt/issuing of payment. No automatic postings are
made to track unrealized gains or losses on foreign currency transactions.
Not all businesses need to track unrealized currency gains or losses—you should check with
your accountant to determine whether or not your business needs to track them.
The Currency Unrealized Gain/Loss report lists the gain or loss made on each foreign
currency. You can then use this information to make adjusting postings to each of your
foreign currency accounts for your Balance Sheet and also to a Profit & Loss account.
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Chapter 11 Recording International Transactions
Working with Multicurrency
Working with Multicurrency
Using the Currency Calculator
If you receive a payment for a foreign currency invoice in your local currency, you can use
AccountEdge’s Currency Calculator to quickly 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 AccountEdge. Go to the Help
menu and choose Currency Calculator. Click the Help button for help on using the
calculator.
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 AccountEdge. This is because
the exchange rate used by the bank is different from that used in AccountEdge at the time
of the transaction.
There are two methods by which you can allow for this:
•
•
If you have your security preferences set to allow records to change, simply click the
zoom arrow for the transaction in the Reconcile Accounts window to zoom to the
original transaction. Click the Currency button and change the exchange rate to
match the bank statement.
If you have the security preferences set not to allow changes to records, just click the
zoom arrow next to the transaction, choose Reverse Check Transaction from the
Edit menu, and re-enter the check with the correct exchange rate.
Multicurrency reports
There are three specific multicurrency reports, which are accessed from the Accounts tab of
the Index to Reports window:
•
•
•
160
The Currency List report, which lists all your currencies with their currency code,
currency symbol and current exchange rate.
the Currency Unrealized Gain/Loss report, which displays unrealized gains or losses
on transactions per account.
the Currency Realized Gain/Loss report, which displays realized gains or losses on
transactions per account.
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Chapter 11 Recording International Transactions
Working with Multicurrency
Transferring funds to a foreign account
You may want to transfer funds from a local currency account to a foreign account. This is
easily done in AccountEdge through the Spend Money window.
1
Display the Spend Money window.
2
In the Account field, enter the local currency Checking account from which the check
is being written.
3
Click the Currency button and choose the (foreign) currency of the account in which
you want to make a deposit.
4
Enter the date, amount, payee, memo and check number.
5
In the Account # (or Name) field in the scrolling list, enter the account you want to
allocate the transaction to and record the transaction.
Entering foreign currency transactions in a local account
In AccountEdge, you can enter foreign currency transactions in a local currency account.
For example, you can accept a check from a British customer in pounds and bank it in a U.S.
checking account.
E X AM P L E
Let’s look at an example of how to accept a foreign currency check into a local currency
account. Our example uses British pounds. Let’s also assume the exchange rate has changed
from 1.45 to 1.6 since you made the original sale.
User Guide
1
Display the Receive Payments window.
2
Select the customer. The currency for this customer card is British pounds; so the
currency button displays GBP. You have received a check from your customer for £5000
for an outstanding invoice and you want to bank it in your U.S. checking account.
3
Process the customer payment in the usual way, but make sure you enter your U.S.
checking account in the Deposit to Account field.
4
Click the Exchange Rate button to check the default currency rate for the British pound
to the U.S. dollar. Change the rate from the default rate of 1.45 to 1.6 and click OK.
5
Enter £5000 in the Amount Received field and allocate it to the outstanding invoice.
6
Record the payment.
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CHAPTER
12
Printing Forms
In MYOB AccountEdge, the term ‘form’ refers to the printed documents you give clients,
vendors, and employees. This includes invoices, statements, packing slips, bills, checks,
and mailing and shipping labels.
MYOB AccountEdge uses a system of sophisticated filters to locate the forms you may need
to print or reprint. For example, you can choose to print only unpaid and unprinted service
invoices within a particular date and invoice number range. AccountEdge also gives you
the ability to print forms as you enter your transactions. Simply click the Print button when
entering checks, invoices, bills, etc., and AccountEdge will print your transaction using
your previously selected form.
The appearance of forms can be extensively customized to suit your own purposes. The
most commonly customized forms are invoices and statements, but checks, bills and labels
can also be customized. You can change the size of the form, print multiple forms on a
single page, change fonts, move fields, create text fields and add your own logos and
graphics to forms. You can also create multiple forms of one type. You might, for example,
create one invoice with your logo and another without it.
This chapter gives you detailed instructions about printing and customizing your forms.
The process is very similar to that used by drawing and database applications.
You should be aware that your forms are stored within their own Forms folder within the
MYOB AccountEdge folder. This allows you to share forms among your company files and
easily transfer them from one computer to another. We recommend that you make sure
you have a separate backup of your Forms folder should you need to restore your forms.
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Finding Forms
Finding Forms
See also Forms
and Reports>
Forms Overview in
the Learning Center.
Each AccountEdge form can be found in the command center in which the form’s
associated transaction was entered.
B A N K IN G C O M M A N D CE N T ER
Type of form
To find the form, click:
Checks
Print Checks
S A L ES CO M M A N D C E N TE R
Type of form
To find the form, click:
Sales (item, service, time billing and professional) Print Invoices
Packing slips (item, service and professional)
Print Invoices
Labels (item, service, time billing and
professional)
Print Invoices
Statements (invoice and activity)
Print Statements
P URC HA S E S C O M M AN D CE N T ER
Type of form
To find the form, click:
Purchases (item, service and professional)
Print Purchase Orders
Checks (payable)
Print Checks
P AY R O LL CO M M A N D C E N TE R
Type of form
To find the form, click:
Paychecks
Print Paychecks
C A R D F IL E C O M M A N D CE N T ER
Type of form
164
To find the form, click:
Mailing labels
Print Mailing Labels
Personalized letters
Create Personalized Letters
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Printing Forms
Printing Forms
See also Forms
and Reports>
Forms Overview>
Printing Forms in the
Learning Center.
Before you begin printing any forms, make sure your printer is set up properly. See
“Preparing to Print Reports and Forms” on page 184 for more information.
Once you’ve found the form you want to print, you’re ready to make some decisions about
how to print it. In general, there are four steps you need to follow to print a form:
•
•
•
•
Choose the information you want to print
Choose the form layout
Review the forms you’ve selected for printing
Print the forms
Step 1 – Choose the information you want to print
1
Display the Forms Selection window for the form you want to print. This window
varies slightly, depending upon the kind of form you want to print.
2
In the top portion of the Forms Selection window, choose the various elements that
you want to appear on your forms, including the type of information you want to print,
the status of the transactions you want to print, and the date range and transaction
numbers that apply to the form you plan to print.
Step 2 – Choose a form layout
The bottom section of the Forms Selection windows allows you to choose the layout you
want to use when you print your forms. MYOB AccountEdge provides a number of layout
choices, depending upon the type of form you’re currently working with.
•
•
User Guide
Select the pre-printed form layout if you want to print a form’s information onto
paper that already contains lines, columns and headings. The pre-printed layout is
designed to match most commonly used forms provided by third-party forms
vendors.
Select the plain paper form layout if you want to print a form’s information onto
blank paper. Lines, columns and headings are automatically printed with the form’s
information.
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•
Select a user-customized form layout if you want to print a form you’ve customized
using the Customize window. See page 170 for more information about
AccountEdge’s forms-customization tools.
Step 3 – Review the forms you’ve selected for printing
Before you begin printing, AccountEdge allows you to review the information that will be
printed on your forms.
¨ To begin the review process, click OK in the Forms Selection window. The Review
Before Printing window is displayed, with the information that fits the criteria you
specified in the Forms Selection window.
E
F
A
B
C
D
A Print
column
A transaction is marked for printing when a mark appears next to it in this column. If
you don’t want to print a form for a transaction, click in this column next to the
transaction to remove the mark.
B Zoom
arrow
Click the zoom arrow to view more information about a particular transaction.
C All button
Click All to mark all transactions in the window for printing.
D None
button
Click None to unmark all transactions in the window.
E Print xx
Copies field
Enter the number of copies you want to print.
F Packing
Slips/Labels
If you want to print packing slips or mailing labels immediately after printing your
invoices, enter the number of copies in these fields.
Step 4 – Print the forms
When you’ve finished reviewing the information that appears in this window, you’re ready
to print. Click the Print button in the Review Before Printing window.
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Customizing Forms
Customizing Forms
See also Forms
and Reports>
Forms Overview>
Customizing Forms
in the Learning
Center.
MYOB AccountEdge’s forms customizing feature allows you to change the look and content
of your printed checks, invoices, packing slips, shipping labels, statements, bills, paychecks
and mailing labels.
You can change the size of a form, add text fields, draw lines and boxes, paste graphics on
the form, move fields, change the size of fields and more.
You can save your customized forms and simply select the required form as the occasion
demands.
Step 1 – Display the form in the Customize window
1
Display the Forms Selection window for the form you want to customize.
2
When you’ve finished making selections in the Forms Selection window, click the
Customize button. The Customize window is displayed, and the Form menu appears
in the menu bar at the top of the screen.
A
User Guide
B
C
D
E
A Preview
button
Click the Preview button to view your form on your computer screen.
B Inactive data
fields
Inactive data fields are shown in dimmed text and won't be printed on your form
unless you activate them. You can hide inactive data fields by choosing Hide Inactive
Fields from the Form menu at the top of the screen. To re-activate them, choose
Show Inactive Fields from the Form menu.
C Text fields
Text fields don't have surrounding boxes like data fields do. What you see in a text
field is what actually gets printed.
D Tool palette
The tool palette provides you with customization tools for your forms.
E Active data
fields
Active data fields are ready to be printed on a form. AccountEdge can inactivate
active data fields so they don't come out on your form.
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A note about customizing checks
A check has two parts—the check and the stub. To customize the entire check, you’ll need
to customize the stub form and the check form separately. Once the check is displayed in
the Customize window, you can switch between the stub layout and the check layout by
using the Form menu.
¨ Go to the Form menu at the top of the screen and choose the appropriate stub layout,
for example Regular Stub Layout or Payable Stub Layout.
For more information, in the Learning Center, choose Forms and Reports, click the topic
Forms Overview and then click Tips for customizing checks.
Step 2 – Set up form properties
1
Go to the Form menu and choose Forms Info. The Forms Information window is
displayed.
2
Specify the number of forms you want to print per page.
3
Choose the required type of paper from the Paper drop-down list.
4
Enter the margins for the page.
5
Specify the width and length of the form (not the paper) in the Form Size field. For
example, if you are printing four checks per page, enter the width and length of a single
check.
Step 3 – Customize the form using the Tool palette
Customize the form according to your needs.
For more information, see “Adding Elements to a Form” on page 170.
Step 4 – Preview the customized form
At any time during the customization process, you can display an on-screen preview of your
work.
168
1
In the Customize window, click the Preview button. The Print Preview window
displays the form.
2
If you want to view the form in more detail, click the zoom buttons on the left side of
the Print Preview window.
3
If you want to check your current printer and page settings, click the Print Setup
button.
4
When you’ve finished previewing the form, click OK in the Print Preview window.
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Step 5 – Save the customized form
When you’re satisfied with the changes you’ve made to the form, you should save the
customized form.
•
•
If you want to save changes to a custom form you created previously, click the Save
Form button.
If you want to create a new custom form layout that contains the changes you’ve
made, click the Save Form As button. The Save As dialog box is displayed; enter a
name and a brief description for the new layout and click OK.
Step 6 – Print the customized form
Printing a customized form is the same task as printing an unchanged MYOB AccountEdge
form.
User Guide
1
Display the Forms Selection window for the form you customized.
2
In the bottom section of the window, select the customized form you want to print.
3
Click OK to begin the printing process.
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Adding Elements to a Form
Adding Elements to a Form
See also Forms
and Reports>
Forms Overview>
Customizing Forms
in the Learning
Center.
You can add new elements—data fields, text fields, lines, rectangles and pictures—to your
form in the Customize window.
To add a text field to a form
1
Click the text tool, and then click the location on the form where you want the new text
field to appear. A new text field, labeled “Text Field,” is displayed.
2
Double-click the new field. The Field Information window is displayed.
3
Type the text you want to appear in the new field you created, in the Text field of the
Field Information window.
4
Click OK to close the Field Information window. The new field containing the text you
typed is displayed in the Customize window.
If the text you entered is longer than the size of the new text field, you may need to change
the size of the text field. For more information, see “To change the size of a data field, text
field, rectangle or picture” on page 171.
To draw a line on a form
1
Click the line tool and then click the location on the form where you want the line to
begin; a cross appears on your computer screen.
2
Drag the cross 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 tool and then click the location on the form where you want the top
left corner of the rectangle to appear; a cross appears on your computer screen.
2
Drag the cross to where you want the bottom right corner of the rectangle to appear,
and then release the mouse button.
To add a picture or logo to a form
You can load a PICT file directly to an AccountEdge form. If the picture you want to use is in
a format other than PICT (for example, JPEG or GIF), you can copy that graphic onto the
clipboard and then paste it on the form. AccountEdge can display nearly any picture that
appears on the clipboard, regardless of its original format.
170
1
If the graphic is in a format other than PICT, copy the graphic to the clipboard using
your graphic program.
2
Click the picture tool in the Customize window in AccountEdge. Then click the
location on the form where you want the picture to appear. A picture field appears.
3
Double-click the picture field. The Field Information window is displayed.
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•
•
4
If the graphic is a PICT file, click the Load Picture button. The Open dialog box is
displayed. Select the PICT file and click Open. The graphic appears in the Field
Information window.
If the graphic is in a format other than PICT (and you have copied it to the
clipboard), click the Paste Picture button. The graphic appears in the Field
Information window.
Click OK to close the Field Information window. The picture is displayed in the
Customize window.
To activate a data field
1
In the Customize window, double-click the field you want to activate. The Field
Information window is displayed.
2
Click the Active radio button.
3
Click OK.
To copy and paste a data field
1
Click the data field once to select it.
2
Go to the Edit menu and choose Copy.
3
If you want to paste the data field onto another form, display that form in the
Customize window.
4
Go to the Edit menu and choose Paste. A copy of the data field appears in the window.
Changing elements on the form
You can make changes to the data fields, text fields, lines, rectangles and pictures on your
form in the Customize window.
To change the size of a data field, text field, rectangle or picture
1
Highlight the field you want to change; a solid line appears around it.
A small square, called a “handle,” appears in the bottom right corner of the field.
2
Simply drag the handle to change the size of the field.
To change the length of a line
1
Select the line you want to change.
Two small squares—called “handles”— appear on each end of the line.
2
User Guide
Drag either handle so that the line is the required length.
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To change the font characteristics of several fields at once
1
Holding down the SHIFT key, click those fields for which you want to change the font, so
that they are all selected.
2
Go to the Form menu at the top of the screen and choose Change Fonts.
3
Change the font type and size and click the Apply to Selected button.
To change the font characteristics of a single data field or text field
1
Double-click the field you want to change. The Field Information window is displayed.
2
Make your choices in the Justify, Font, Size and Style fields in this window and click
OK.
To change the text in a text field
1
Double-click the text field in the Customize window. The Field Information window is
displayed.
2
Change the text in the Text field of the Field Information window.
3
Click OK.
To change the thickness of a line or rectangle
172
1
Double-click the line or rectangle in the Customize window. The Field Information
window is displayed.
2
Choose a thickness in the Line Size section of the Field Information window.
3
Click OK.
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Moving elements around on the form
You can change the position of the data fields, text fields, lines, rectangles and pictures on
your form in the Customize window.
There are two ways to move an element in the Customize window:
•
•
Use the pointer to select the element you want and drag it to the new location.
Change the element’s exact coordinates.
To drag an element to a new location
1
Click the element and hold down the mouse button. Notice that the cursor turns to a
hand.
2
Drag the element to the desired location. In the example below, the Invoice # field is
being dragged below its original position.
To change an element’s coordinates
1
Double-click the element you want to move. The Field Information window is
displayed.
2
In the Field Location boxes, enter the distance from the top and left edges of the form
where you want the element to begin.
3
Click OK.
Removing elements from the form
You may want to remove some of the text fields, lines, rectangles and pictures on your form
in the Customize window.
To remove a text field, line, rectangle or picture from a form
¨ Select the element and press DELETE on your keyboard.
To inactivate a data field
You can’t remove data fields from a form. If you don’t want a particular data field to be
printed on a form, you can inactivate the data field.
User Guide
1
In the Customize window, double-click the field you want to inactivate; the Field
Information window is displayed.
2
Click the Inactive radio button.
3
Click OK.
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To hide inactive fields
174
1
Choose Hide Inactive Fields from the Form menu at the top of the screen. All inactive
data fields are hidden.
2
To display these fields again, choose Show Inactive Fields from the Form menu.
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CHAPTER
13
Using Reports
MYOB AccountEdge allows you to see your business from over a hundred different
perspectives because that’s how many reports you have at your fingertips. These reports
provide you with comprehensive information about your business, from detailed lists of
your business’s activities to highly summarized reports.
These reports are all grouped by command center in the Index to Reports window; so
finding the report you need is the easy task it should be. Just recall the command center
you used to enter the information you need; then look at the reports for that command
center. For example, the Accounts command center deals with accounts and general
journals; so this is where you will find account inquiries, profit & loss reports and balance
sheet reports. The Sales command center deals with sales to customers; so this is where
you will find detailed and summarized reports outlining your sales sorted by customer,
item, amounts outstanding, and more. If you need more information, just look at the
report description to the right of the report in the Index to Reports window.
Once you have found the report you want, you can display the report onscreen, open the
report in Microsoft Excel, print the report, or e-mail or fax the report. You can also save the
report as a text file readable by most programs, as an HTML report suitable for the Internet,
and as a Portable Document Format (PDF) file.
MYOB AccountEdge even allows you to customize the look and content of many reports to
suit your own needs. Make sure you spend some time looking at the reports. You will be
amazed by the information MYOB AccountEdge makes available to you about your
business.
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Finding Reports
Finding Reports
See also Forms
and Reports>
Sample Reports List
in the Learning
Center.
You can easily locate reports using the Index to Reports window.
•
Go to the Reports menu and choose Index to Reports. The Index to Reports
window is displayed.
A
A
B
C
D
E
G
F
Click a tab to view the reports associated with that tab. Click Custom to view your
custom reports.
B
Highlight a report and click the View Sample button to view a sample of that report.
C
Click the Print button to print the selected report.
D
Click the Send To button to send the selected report by fax or e-mail, to save the report
to disk as a PDF file, HTML file or text file, or to open the report in Microsoft Excel.
E
Click the Customize button to choose the information you want to appear on the
selected report and how you want that information to appear.
F
Read a short description of the report you have selected here.
G
Click the Display button to view an on-screen version of the selected report.
For detailed information about the fields in the Index to Reports window, click the Help
button.
For guidelines and tips for using the many reports available in MYOB AccountEdge, in the
Learning Center, choose Forms and Reports and click the topic The MYOB Report Advisor.
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Customizing Reports
Customizing Reports
See also Forms
and Reports>
Custom Reports in
the Learning Center.
MYOB AccountEdge gives you complete control of the content and appearance of your
reports. You can customize your reports in three different ways:
•
•
•
Filtering—determining the amount of information to include on a report
Designing—choosing the type of information to include on a report
Formatting—determining the appearance of a report
You can use any combination of these three methods to customize a report. If you want,
you can customize a report, print it immediately, and then revert the report back to its
original settings. Or, if you want to retain a report’s modifications, you can customize the
report and save it. When you save a customized report, the report is known as a custom report
and appears in the Custom tab of the Index to Reports window.
Filtering reports
You can control the amount of information that appears on your reports by using filters.
Filters allow you to choose specific pieces or ranges of data that can be included on a single
report. For example, if you want to print a Customer Payments (Closed Invoices) report for
customer Eileen Martin for the months of May to July, you can use AccountEdge’s filters to
select those criteria only.
To filter reports
1
Go to the Reports menu and choose Index to Reports. The Index to Reports window
is displayed.
2
Locate the report you want to print and highlight it. Then click the Customize button
at the bottom of the window. The Report Customization window is displayed.
The filters in the Report Customization window vary, depending upon the report
you’re filtering.
A
B
User Guide
A
The top section of the Report Customization window typically allows you to choose
the amount of topics that will be included in the report.
B
The middle section of the Report Customization window typically allows you to
choose ranges of criteria, such as dates, that will be included in the report.
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Customizing Reports
3
Make the required entries and selections in the Report Customization window.
You can now print or display the report with the filters you selected.
Using wildcards to filter reports
Wildcards are special characters that give you more flexibility in selecting various records,
such as account numbers and invoice numbers, to print on reports that use that type of
information.
You can use two wildcard characters, the asterisk (*) and the question mark (?), when
filtering your reports.
T HE A ST E R IS K
Using the asterisk in the Report Customization window allows you to print a report for a
specific group of records. For example, to select only the accounts whose numbers begin
with 1, enter 1* in the Selected field in the Report Customization window.
T HE Q UE S TI ON M A RK
Using the question mark wildcard, you can limit your report to elements that contain only
a specific number of characters. For example, to limit the report to three-character jobs that
begin with C, enter C?? in the Selected field in the Report Customization window.
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Designing reports
Using the Report Designer, you can choose which types of information you want to include
in reports. For example, if you want to print the average cost of items on a sales report, you
can choose to do so by designing the report so it includes the average cost. You can also
choose the order in which information is printed on your reports.
1
Go to the Reports menu and choose Index to Reports. The Index to Reports window
is displayed.
2
Locate the report you want to design and highlight it.
3
Click the Customize button. The Report Customization window is displayed.
4
Click the Design button at the bottom of the window. The Report Design window
displays the fields that are available to be printed on the report you’ve selected.
A
5
User Guide
B
A
The fields in the Field Name column are those that are available for the selected
report. Mark a field's Display column to include that field on the report. Drag the fields
up or down the column to indicate the order in which you want the fields to be
printed on the report. The fields at the top of the Report Design window will appear
at the left end of the report.
B
Fields marked with an X in the Display column are set to be printed on the selected
report.
Click OK when you have finished.
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Formatting reports
You can modify the look of individual reports by using different font styles, sizes, colors,
alignments and effects, and by changing the report’s page margins.
1
Go to the Reports menu and choose Index to Reports. The Index to Reports window
is displayed.
2
Locate the report you want to format and highlight it.
3
Click the Customize button. The Report Customization window is displayed.
4
Click the Format button. The Report Format window is displayed.
A
C
D
B
5
180
A
The left side of the Report Format window contains all the sections of the report you're
working with. Click a section to begin making changes to it.
B
If you’ve formatted a report and want to change it back to its original format, click this button.
C
After choosing the section of the report you want to customize, make selections from the lists
and boxes here.
D
Make entries in the margin fields to change the report's margins.
Click OK when you have finished.
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Saving custom reports
If you plan to use a specific report’s design and format many times in the future, you can
customize the report once and save the changes so you can use the modified report
whenever you want.
1
Customize your report using the filters, and design and format tools available in the
Report Customization window. When you’ve finished in each window, make sure you
click OK to record your changes.
2
Display onscreen (by clicking the Display button) the report you want to save as a
custom report.
3
Click the Save As button. The Save As dialog box is displayed.
4
Enter a name and a brief description of the custom report and click OK. The Screen
Report window is displayed again.
5
Click Close. The Index to Reports window is displayed.
6
Click the Custom tab. Your custom report will be listed here.
You can perform the same tasks with custom reports as you do with any other MYOB
AccountEdge report, including printing them, displaying them on your computer screen,
and saving them as files on disk. See “Working with Reports” on page 182 for more
information.
User Guide
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Working with Reports
Working with Reports
Once you’ve chosen the report you want to print and have made the customizations you
need, you’re ready to see the finished product. In MYOB AccountEdge, there are five ways
to work with a report:
•
•
•
•
•
Print the report on your printer
Display the report on your computer screen
Save the report as a file on disk
Send the report by e-mail or fax
View the report in Microsoft Excel
To print reports on your printer
You can print reports individually or in batches (see page 186).
Before you can print a report or a report batch, however, you need to make sure your
computer, printer, and MYOB AccountEdge system are properly set up for printing (for
more information, see “Preparing to Print Reports and Forms” on page 184). Once you’ve
set them up, printing reports is a simple task of clicking the Print button in the appropriate
window.
To display reports on your computer screen
Using the Display button in the Index to Reports window, you can display an onscreen
version of any report in the MYOB AccountEdge system.
1
Go to the Reports menu and choose Index to Reports. The Index to Reports window
is displayed.
2
Locate the report you want to display and highlight it.
3
Click the Display button. The Screen Report window is displayed, with the report you
want to view.
You can view more detail about a particular report by “zooming” to the detail from the
Screen Report window. To do this, move your mouse pointer over the area you want to
see in more detail. The mouse pointer will change to a magnifying glass.
4
Now click your mouse button; the window used to enter the information you clicked on
is displayed. When you’ve finished viewing the details, close the window to return to
the Screen Report window.
To save reports as files on disk
When you save a report as a file, you have the flexibility to do whatever you want with the
report—you can further modify it using a word-processing program, move it to another
computer for printing or simply save it for your permanent records.
182
1
Go to the Reports menu and choose Index to Reports. The Index to Reports window
is displayed.
2
Locate the report you want to display and highlight it.
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3
Click the Send To button and choose one of the following formats:
•
•
•
•
•
PDF (Portable Document Format) File. If you save a report as a PDF file, the person
who receives the report must have software capable of opening a PDF file. To view a
PDF file, you need Adobe Acrobat Reader, a free application distributed by Adobe
Systems. You can install Acrobat Reader from your MYOB AccountEdge CD-ROM.
HTML File. When you save a report in HTML (Hypertext Markup Language) format,
the report can be viewed in World Wide Web browsers such as Netscape Navigator
and Internet Explorer.
Tab-Delimited Text File. When you save a report in tab-delimited format, the
individual bits of information in the report are separated by tab characters.
Comma-Separated Text File. When you save a report in comma-separated format,
the individual bits of information in the report are separated by commas.
Simple Text File. When you save a report in text format, the individual bits of
information are separated by spaces so the appearance of the report is as similar as
possible to a printed version of the report.
When you select the format you want to use, the Save dialog box is displayed.
4
Specify a name and location for the file you’re creating and click Save.
To send reports by e-mail
1
Go to the Reports menu and choose Index to Reports. The Index to Reports window
is displayed.
2
Locate and highlight the report you want to e-mail.
3
Click the Send To button and choose E-mail. The E-mail window is displayed.
4
Enter an e-mail address in the E-Mail Address field and make other entries as required.
5
Click Send. The e-mail is sent to your default e-mail program’s Outbox. Send the file
from your e-mail program as you would normally.
To send reports by fax
1
Go to the Reports menu and choose Index to Reports. The Index to Reports window
is displayed.
2
Highlight the report you want to fax.
3
Click the Send To button and choose Fax. A dialog box from your fax program is
displayed.
4
Use your fax program as you normally would to send the fax.
To view the report in Microsoft Excel
You must have
Microsoft Excel
installed on your
computer.
User Guide
1
Go to the Reports menu and choose Index to Reports. The Index to Reports window
is displayed.
2
Highlight the required report.
3
Click the Send To button and choose Excel. Microsoft Excel starts and the selected
report is displayed in Excel.
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Preparing to Print Reports and Forms
Preparing to Print Reports and Forms
If you’ve properly set up your printer and computer, printing reports and forms using
MYOB AccountEdge usually takes only a few clicks of your mouse. This section contains
important information about setting up your printing environment so you can successfully
print your MYOB AccountEdge information.
Preparing your printer
If you plan to print documents on paper using a printer, bear in mind that your printer
must be configured properly before the information can be printed. MYOB AccountEdge is
compatible with most popular printers, but each type of printer on the market today is
different from the next. If you’re unsure about how your computer works with your printer
or if you’ve had printing problems in the past, make sure you understand the capabilities of
your printer before you attempt to print MYOB AccountEdge documents.
1
Make sure that your printer is properly connected to your computer.
2
Turn your printer on.
3
Load the paper you want to use and make sure it’s loaded properly.
Preparing your computer
A great deal of the printing process is controlled by software used to send information to
your printer. This software, commonly known as printer driver software, is normally supplied
by your printer’s manufacturer. Printer drivers play a large part in determining how—and
whether—information is printed using your printer. In many cases, printer drivers are
already installed on your computer when you purchase it, or are supplied on diskettes when
you purchase your printer. Printer drivers are not included in the MYOB AccountEdge
package.
Printer drivers are located in the Extensions folder inside your Macintosh’s System Folder. If
you’re having printing problems, check the Extensions folder to be sure a printer driver for
your printer exists.
•
•
•
184
If a printer driver exists, check the Chooser to be sure your printer is selected. If
printing problems still occur, you should consider contacting your printer’s
manufacturer for information about their printer driver software for your printer.
If a printer driver doesn’t exist, you probably need to reinstall a printer driver.
More information about setting up your printer with your computer is located in the
documentation for your computer and printer.
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Chapter 13 Using Reports
Preparing to Print Reports and Forms
Preparing MYOB AccountEdge for printing
You’ve got a number of options within MYOB AccountEdge for personalizing your printed
documents and determining the process by which you print reports and forms. This section
describes those options.
To choose page setup options
The selections you make in the Page Setup window determine how your documents will
look on paper.
The Page Setup window varies, depending upon the printer and printer driver software you
use. Usually, however, these windows allow you to choose options such as your page
orientation, paper size and print quality.
1
Go to the File menu and choose Page Setup.
2
Review your page setup information before you attempt to print an MYOB AccountEdge
document.
To choose default fonts for reports and forms
Every report and form in MYOB AccountEdge is assigned a default font—that is, a font that’s
automatically designated for your use by AccountEdge—when you begin using a new
AccountEdge company file. Until you change it, the font assigned when you created the
company file will be the default font for all your reports and forms.
Note that the changes you make in the Change Default Font windows won’t affect any
reports or forms that you have already customized.
User Guide
1
Go to the File menu and choose Default Fonts. The Default Font Selection window is
displayed.
2
Click either the Reports button or the Forms button, depending upon the type of
document for which you want to change the default font.
3
Choose the font style and size for the printed characters on your documents. When you
choose a font style and size for forms, use the sample box in the bottom half of the
window to preview how the font looks.
4
Click OK when you have finished.
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Chapter 13 Using Reports
Printing Report Batches
Printing Report Batches
Report batches are groups of reports you set up that allow you to print several reports at a
time. You can set up report batches to serve a number of purposes. For example, you may
want to create a report batch that contains all your regular monthly financial statements;
with a few clicks of the mouse, you can start the printing process so the reports print while
you work on other important tasks. Report batches are created and maintained in the
Report Batches and New/Edit Batch windows. Printing a report batch is slightly different
from printing an individual report. Instead of making entries and selections in the Report
Customization window before you print, you’ll use the Report Batches window to choose
the reporting period for the batches you want to print.
N O TE
Single-user access Please note that this task requires single-user access. For more information, see
“Tasks that require single-user access” on page 209.
To create a report batch
1
Go to the Reports menu and choose Report Batches. The Report Batches window is
displayed.
2
Click the New button and enter an appropriate name for the batch.
3
Choose the reports that belong to the batch by clicking the name of each report. A mark
will appear next to each selected report, indicating that it is included in the new batch.
To remove a report from the batch, click the name a second time.
N O TE
Some reports can’t be included in 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.
4
Click OK. The Report Batches window is displayed again, with the name of the new
batch in the scrolling list. To print the report batch, see the following section for
instructions.
To print a report batch
1
Display the Report Batches window.
2
Select the relevant period from the Period drop-down list.
You can choose any of the months or quarters in the current fiscal year, or you can
choose to print information for the entire year to date.
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
January 1 to January 31 and Balance Sheet reports will show information as of
January 31.
3
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Choose a report batch for printing and click the Print button.
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Printing Report Batches
To change a report batch
1
Display the Report Batches window.
2
Highlight the name of the batch you want to change and click the Edit button. The Edit
Batch window is displayed.
You can change the name of the batch and the reports contained in the batch.
3
Click OK to save your changes.
To delete a report batch
User Guide
1
Display the Report Batches window.
2
Highlight the name of the batch you want to delete.
3
Go to the Edit menu and choose Delete Batch.
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Printing Report Batches
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CHAPTER
14
End of Period Procedures
It is important to ensure that your accounting records are accurate. Reconciling the
accounts on a regular basis will help you and your accountant know that your books are
complete and balanced.
You should reconcile your system with any source documents and resources available to
you. For example, the checking account can be reconciled with the bank statement,
vendors’ balances can be checked against statements, and customers’ balances verified. If
possible, your inventory should be counted, valued and, where necessary, adjusted in
MYOB AccountEdge.
Other end of month procedures include reviewing your trial balance, budgets and cash
flow, paying payroll taxes and purging information that is no longer needed.
End of year procedures are carried out at the end of your fiscal year and include any
adjustments you need to make to your system so it agrees with your accountant’s final
records, such as recording depreciation. You also need to make sure that any matters that
need attention in the current year are finalized. Then follow the procedures in this chapter
to reconcile the system and to close the year. By closing the year in MYOB AccountEdge,
we are effectively bringing the company file up to date and removing information not
required in the new year. This will also make the system more efficient and manageable.
If you use the Payroll feature in MYOB AccountEdge, there are additional procedures that
you need to complete at the end of the year. This involves printing W-2 forms and 1099
statements, reviewing payroll reports and closing the payroll year.
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Chapter 14 End of Period Procedures
Month-end Procedures
Month-end Procedures
Month-end procedures are usually performed at the end of every month, but they can be
done at any time during the month. The key to success is to perform these tasks regularly.
Some tasks need to be performed at a specified time every month. Consult your accountant
if you're unsure which of these tasks are required for your business.
Step
Action
1
Review your trial balance
2
Review and adjust budgets
3
Review cash flow
4
Review the order status of items
5
Purge information that’s no longer needed
6
Reconcile checking accounts
7
Pay payroll taxes
8
Complete other month-end procedures (optional)
9
Verify and back up your company file
10
Lock the accounting period (recommended)
Step 1 – Review your trial balance
Reviewing a Trial Balance report—also known to accountants as a general ledger—regularly is
an optional month-end task, but it can make your job easier in the future. If you regularly
review your trial balance, you'll spot incorrectly recorded amounts quickly and will be able
to fix them without much effort. If you decide to skip this procedure, however, and an error
appears, you may find yourself sifting through several months’ worth of transactions trying
to find the one that's incorrect.
The Trial Balance [Detail] report can be found in the Accounts tab of the Index to Reports
window. For more information on filtering, displaying and printing reports, see the Using
Reports chapter on page 175.
When you review the Trial Balance report, look 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
If the information in the Trial Balance report is acceptable, print the reports you want to
keep as part of your permanent business records. Suggested reports include the Balance
Sheet, Profit and Loss Statement, Payables Aging report, Receivables Aging report and all
journal reports.
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Month-end Procedures
Step 2 – Review and adjust budgets
Reviewing the monthly amounts you've budgeted for your accounts will help you keep
your fingers on the pulse of your business. The best way to do this in MYOB AccountEdge is
to consult a special balance sheet called the Balance Sheet [Budget Analysis] report, that's
designed specifically for budget analysis.
You can print the Balance Sheet [Budget Analysis] report, which lists your accounts' actual
balances for the current month, along with the amounts you budgeted 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.
The Balance Sheet [Budget Analysis] report is available from the Accounts tab of the Index
to Reports window. For more information on displaying and printing a report, see the Using
Reports chapter on page 175.
For more information on what to look for when reviewing your budget, in the Learning
Center, see Month-end procedures> Reviewing and adjusting budgets> To review your budget.
Step 3 – Review cash flow
Having an acceptable supply of available cash can often make a huge difference in
determining how well your company performs next month. In MYOB AccountEdge, you
can use the Cash Flow Worksheet window to estimate your short-term cash needs by using
information you've entered throughout MYOB AccountEdge to create a forecast of the
future of your checking accounts.
The information used in the Cash Flow Worksheet window to forecast cash needs comes
from recurring Spend Money and Receive Money transaction information that you've
entered in MYOB AccountEdge, as well as the sales and purchases that will fall due during
the time frame you've selected.
As each company's business practices are unique, we can't tell you precisely what you
should look for when reviewing your cash flow. Your accountant can give you additional
ideas based on the way your company does business.
To view the Cash Flow Worksheet:
1
From any command center, click Analysis and hold down the mouse button. Then
choose Cash Flow from the list that appears. The Cash Flow Worksheet window is
displayed.
2
Click the Help button in the Cash Flow Worksheet window for information on using
this window.
Step 4 – Review the order status of items
Knowing what items you have on hand is fairly simple. Knowing which items are on order
from vendors and promised to customers is more complicated. Many businesses keep what
they call an “order book.” It's what they use to track the comings and goings of inventory
items.
The Analyze Inventory window functions as your “order book” by monitoring what you
have on hand, on order from vendors, and committed to customers (sales orders).
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Chapter 14 End of Period Procedures
Month-end Procedures
To display the Analyze Inventory window, go to the Inventory command center and click
the Analysis button.
The Analyze Inventory window allows you to review the current status of the items you’ve
entered into the MYOB system. Note that the fields in this window are display-only; that is,
you cannot change any of the information using this window.
Step 5 – Purge information that's no longer needed
After you’ve used MYOB AccountEdge for a long time, you'll notice that the size of your
company file has grown considerably. Information such as journal entries, invoices, bills,
activity slips and business contacts build up over time. When your company file has grown
larger than you want it to, you may want to remove parts of the data that are no longer
needed from the file. The process of removing data from your company file is called purging.
Business contacts can be purged at any time.
You can purge activity slips that haven't been billed on invoices. 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.
For more information on purging data, in the Learning Center, choose Month-end
Procedures, click the topic Month-end Procedures Overview and then click Purging information
that’s no longer needed.
Step 6 – Reconcile checking accounts
To ensure the accuracy of your business records, you should keep a record of your checking
accounts’ balances matched up with your bank's records. This task is called reconciling
accounts.
Before you reconcile your checking account
Before you reconcile your account, you need to make sure that all the checks and deposits
that appear on your bank statement are entered in MYOB AccountEdge.
Importing bank statements into AccountEdge If you have online banking, you can
speed up account reconciliation by importing your bank statement into AccountEdge and
having AccountEdge match the transactions in your bank statement with those in the
system. Matched transactions will automatically appear as cleared in the Reconcile
Accounts window. Any transactions that appear on your bank statement that have not
been entered in AccountEdge can be added to the system by following a few simple steps.
You can also manually match a transaction in your bank statement with a transaction in
AccountEdge. Statements are imported by using the Get Statement button in the
Reconcile Accounts window or the Bank Register. For instructions, see “Importing
Statements into MYOB AccountEdge” on page 57.
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Month-end Procedures
To reconcile your checking account
1
Go to the Banking command center and click Reconcile Accounts. The Reconcile
Accounts window is displayed.
2
Enter the account you want to reconcile in the Account field.
3
Enter the ending balance on your bank statement in the New Statement Balance field.
4
Enter the closing date that appears on your bank statement in the Bank Statement
Date field. Only transactions dated on or before that date will appear in the scrolling
list.
5
If you haven’t already imported your bank statement and wish to, click the Get
Statement button in this window. See “Importing Statements into MYOB
AccountEdge” on page 57 for instructions.
6
Mark all the checks and deposits that are on your bank statement by clicking in the
column on the left in the Reconcile Accounts window.
If you’ve imported your statement and matched the statement transactions with those
in AccountEdge, you will notice that these transactions have a mark in the column on
the left, indicating that they are already cleared.
7
If you need to record a bank service charge or interest that appears on the statement,
click the Bank Entry button and enter these amounts. For field help, click the Help
button in the Record Service Charges and Interest Earned window. Click Record.
8
Click the Reconcile button in the Reconcile Accounts window. A window is displayed,
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 the Print Report button (recommended). Once the report is
printed, the Reconcile Accounts window is displayed again. Click the Reconcile
button again to complete the reconciliation process.
If you don’t want to print the report, simply click the Reconcile button. The
transactions you marked 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, a window will indicate the amount by which your
account is out of balance, and will provide you with a few ideas of how the out-ofbalance situation might have occurred.
Here are some additional things you might want to verify:
-
-
-
User Guide
Are all the checks and deposits that appear on your bank statement marked in the
Reconcile Accounts window? Check to be sure the deposit and withdrawal
amounts that appear on the Total Cleared line near the bottom of the Reconcile
Accounts window are the same as the total deposit and withdrawal amounts on
your bank statement.
Did you mistakenly mark a transaction that doesn't appear on your bank statement?
Did you make the correct entry in the New Statement Balance field? (Make sure
you entered the ending balance from your statement and not your beginning
balance.)
Are all deposits accounted for? If the bank statement shows a higher balance than
the balance calculated by MYOB AccountEdge, a previously cleared deposit may
have been deleted and not reentered, or reentered but not marked as cleared.
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Chapter 14 End of Period Procedures
Month-end Procedures
Step 7 – Pay payroll taxes
Payroll taxes need to be paid on a regular basis. Consult your accountant or the appropriate
government agencies if you're unsure about how or when to file payroll taxes.
You can use the Tax Liabilities report to determine the taxes you owe to the government
agencies. The amounts on the Tax Liabilities report reflect the payroll tax amounts recorded
on paychecks.
The Tax Liabilities report is available from the Payroll tab of the Index to Reports window.
For more information on filtering, displaying and printing reports, see the Using Reports
chapter on page 175.
Once you've determined the payroll tax amounts you owe, you need to create a Spend
Money transaction to pay payroll taxes to the appropriate government agencies.
In the Account # (or Name) column of the Spend Money window, enter the linked liability
account you've selected to track each payroll tax. When the transaction is recorded, the
liability account will be decreased by the amount you've entered for each payroll tax.
Step 8 – Complete other month-end procedures
Many procedures in MYOB AccountEdge can also be considered month-end procedures.
The following procedures might be performed at the end of the month at your company:
•
•
•
•
•
Print customer statements (see ‘Printing Forms’ on page 163).
Analyze sales (see ‘Reviewing your Sales Information’ on page 70).
Analyze purchases (see ‘Reviewing your Purchase Information’ on page 88).
Count items in inventory (see ‘Counting Inventory’ on page 103).
Record unrealized gains and losses (see ‘Unrealized currency gains and losses’ on
page 159).
For additional information on completing the above tasks, in the Learning Center, choose
Month-end Procedures, click the topic Month-end Procedures Overview and then Other monthend procedures.
Step 9 – Verify and back up your company file
We strongly recommend that you make a backup of your company file and check the file for
errors during the backup process. For instructions, see ‘Backing up your Company File’ on
page 203. Mark this backup clearly and put it in storage as part of your permanent records.
Step 10 – Lock the accounting period
After you have completed your month-end tasks, we suggest that you “lock” that month
using the Lock Periods feature. This will prevent you from inadvertently making an entry in
a month in which you don't want new entries.
194
1
Go to the Setup menu and choose Preferences. The Preferences window is displayed.
2
Click the Security tab.
3
Mark the Lock Periods: Disallow Entries Up to and including (System-wide)
checkbox and choose the relevant month from the drop-down list.
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End of Period Procedures
Month-end Procedures
This selection merely places a temporary lock on the month you selected and all months
before it. If, at a later time, you need to make an entry in a locked month—for example, you
locked May and now want to make an entry in April—you can change your selection in the
Preferences window so that month in “unlocked.” For example, if you choose March as
your locked month, April becomes available for transaction entry again.
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Chapter 14 End of Period Procedures
Year-end Procedures
Year-end Procedures
End of 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 paychecks for the next payroll year. You should
close your payroll year first before closing your fiscal year. For more information, see
“Starting a New Payroll Year” on page 199.
End of fiscal year
MYOB AccountEdge doesn’t require that you close your fiscal year at any particular time.
You can continue to use AccountEdge for up to twelve months after the last month of your
current fiscal year without concern, since AccountEdge allows you to track information for
the previous, current and next fiscal years. (However, if you don’t close your fiscal year at
the end of your current fiscal year, you won’t be able to print current information on some
reports.) See “Starting a New Fiscal Year” on page 197.
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End of Period Procedures
Starting a New Fiscal Year
Starting a New Fiscal Year
To the best of your ability, make sure that all transactions for the year that’s ending are
entered in MYOB AccountEdge before you begin closing the year. That way, you can avoid
making adjusting General Journal entries in the new year and your yearly records will be
more accurate. This will also make it easier for you to compare your company’s performance
from one year to the next. If you have an accountant who produces your year-end financial
reports, you may need to wait for your accountant to provide you with any adjusting entries
that may be needed.
Complete the tasks listed below to close your fiscal year and start a new fiscal year.
Step
Action
1
Print reports
2
Verify your company file
3
Back up your company file
4
Start a new fiscal year
5
Optimize your company file
Step 1 – Print reports
Print all the reports that you want to keep that show the previous year’s transaction activity.
You might consider printing a copy of each journal, because they show all transaction
activity for a specified period.
Step 2 – Verify your company file
Verify your company file to check for inconsistencies and minor errors before they cause
serious problems. For instructions, see ‘Checking your company file for errors’ on page 206.
Step 3 – Back up your company file
We strongly recommend that you make multiple backups of your company file before
closing the year and that you store these backups in different locations. After you start a
new fiscal year, the only way you can view the detail of transactions that were purged from
the company file during the Start a New Year process is to restore a backup of the company
file. For more information, see ‘Backing up your Company File’ on page 203.
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Chapter 14 End of Period Procedures
Starting a New Fiscal Year
Step 4 – Start a new fiscal year
If you have completed steps 1 - 3, you are now ready to start a new fiscal year.
When you start a new fiscal year:
•
•
•
•
The previous fiscal year’s monthly totals for all accounts are changed to “last year”
categories. If “last year” amounts already existed, those amounts will be replaced.
All closed sales, closed purchases and journal entries assigned to closed sales and
closed purchases are purged.
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.
If you wish, the new fiscal year can be changed so it ends in a different month than the
previous fiscal year. (If you choose to make this change, check with an accountant about
how to report information for a “short” fiscal year.)
N O TE
Single-user access Please note that the task of starting a new fiscal year requires single-user access.
For more information, see ‘Tasks that require single-user access’ on page 209.
To start a new fiscal year
1
Go to the File menu and choose Start a New Year and then Start a New Fiscal Year. The
Start a New Fiscal Year Assistant is displayed.
2
Follow the instructions that appear on your computer screen. Click the Help button in
these windows if you need help.
Step 5 – Optimize your company file
After you start a new fiscal year, we recommend that you optimize your company file.
Optimizing your company file reduces its size and makes it more efficient. See ‘Optimizing
your company file’ on page 206.
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Starting a New Payroll Year
Starting a New Payroll Year
Complete the tasks below to close your payroll year and start a new payroll year.
Step
Action
1
Process the last paychecks for the year
2
Print year-end payroll forms
3
Print payroll reports
4
Back up your company file
5
Start a new payroll year
6
Optimize your company file
Step 1 – Process the last paychecks for the year
You must make sure that all paychecks for the current payroll year have been entered. For
more information, see ‘Paying your Employees’ on page 135.
Step 2 – Print year-end payroll forms
You can use MYOB AccountEdge to print W-2 forms for your employees and 1099
statements for your vendors to use at tax time. Information for W-2 forms and 1099
statements is tracked using the Current Payroll Year for your company file.
For more information on printing W-2 forms and 1099 statements, in the Learning Center,
click Year-end Procedures in the contents panel and click the topics To print W-2 forms and
To print 1099 statements.
You can enter or change amounts that print on W-2 forms and 1099 statements by
manually adjusting the amounts that were calculated by MYOB AccountEdge. If, for
example, you wish to print a 1099 statement for a vendor whom you haven’t designated a
1099 vendor, you can enter the amounts you wish to print on the 1099 statement for the
vendor. The changes won’t affect transactions or reports in MYOB AccountEdge; the
changes will only print on the W-2 forms and 1099 statements. You can also choose to
revert to the amounts calculated by MYOB AccountEdge.
For more information on entering or changing amounts that print on W-2 forms and 1099
statements, in the Learning Center, click Year-end Procedures in the contents panel and
click the topics To enter or change amounts that print on a W-2 form and To enter or change
amounts that print on a 1099 statement.
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Chapter 14 End of Period Procedures
Starting a New Payroll Year
Step 3 – Print payroll reports
Print the following payroll reports at a minimum:
•
•
Register report. This report shows the pay history of your employees.
Activity (Summary) report. This report shows the paychecks that have been recorded
but will not include manual adjustments made in an employee’s Pay History
window (in their card).
Review these reports to spot potential issues or concerns. Look for figures that seem out of
the ordinary or unexpected.
Step 4 – Back up your company file
Before you start a new payroll year, make sure you make a backup of your company file.
Once the year is closed, detailed payroll information is no longer available and W-2 forms,
1099 statements and other reports cannot be printed for that year. If you’ve made a backup,
however, you can restore that backup and print the necessary documents.
For more information, see ‘Backing up your Company File’ on page 203.
Step 5 – Start a new payroll year
N O TE
Single-user access Please note that this task requires single-user access. For more information, see
‘Tasks that require single-user access’ on page 209.
1
Go to the File menu, choose Start a New Year and then Start a New Payroll Year.
2
Follow the directions onscreen, which will prompt you step-by-step through the
process. Click the Help button in these windows for detailed help.
Starting a new payroll year will:
•
•
•
clear the payroll history from the employee cards for the previous year.
prevent you from printing payroll reports for the previous year.
prevent you from editing or deleting paychecks for the previous year.
If you have set up a vacation pay employer expense as an Accrual type and have selected to
carry over remaining expenses to the next year, MYOB AccountEdge will carry over those
balances to the new payroll year.
Step 6 – Optimize your company file
After you start a new payroll year, we recommend that you optimize your company file.
Optimizing your company file reduces its size and makes it more efficient. For more
information, see ‘Optimizing your company file’ on page 206.
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CHAPTER
15
Maintaining Your Company
File
This chapter is about protecting your data. Your company’s accounting information is kept
in a single, convenient file called the “company file” in MYOB AccountEdge. This includes
your accounts list, details about your customers, vendors and employees, your list of items,
and all your transactions.
Every time you record a transaction, it is written to the hard disk. Theoretically, there is no
limit to the number of transactions you can enter in MYOB AccountEdge—the only
constraint is that a very large company file might compromise performance.
Now, think of how much time you have spent customizing your company file, setting it up
and entering all your transactions. Imagine having a computer failure and having to do it
all again. You wouldn’t want to start over; that’s why it’s important to know what you can
do to avoid such a situation. You need to know how to back up, restore and verify your
company file.
You may need to restore a backup at any time, as a simple bump of the computer or a
power surge can cause a computer to restart at just the wrong time and corrupt a
company file. Company files can also be lost by hard disk failures and theft. In all cases, the
only protection is a backup. If possible, you should keep your backup separate from your
computer—preferably off-site.
Sometimes you might not realize you have a problem. Company file corruptions can hide
in the file until you attempt to access that part of the file with the error. MYOB
AccountEdge provides the Verify Company File function to protect you against this. We
recommend that you check your company file for errors before you back up and as you
open it in the morning.
Please read this chapter carefully and practice verifying, backing up and restoring your
company file.
This chapter also shows you how to use passwords to prevent people from accessing
confidential data. You can have a master password for your entire company file and subpasswords to protect individual areas of your company file, such as payroll.
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Setting up Passwords
Setting up Passwords
See also Setting
up your
Company>
Personalizing your
Company Overview>
Securing your
company’s data in
the Learning Center.
In MYOB AccountEdge, you can use a security system based on a master password and
several sub-passwords. The master password is used to control access to the entire MYOB
AccountEdge system; this password is used to create sub-passwords. You can have only one
master password in a single company file.
Sub-passwords are used to control access to various sections of the MYOB AccountEdge
system, such as individual command centers. If your system uses passwords, you’ll enter the
password when you start AccountEdge or switch from one company file to another. Users
will be able to access those areas to which their password has been assigned access
privileges. You can set up any combination of sub-passwords in your security system.
Make sure single-user file locking is on before you set up passwords (see “Tasks that require
single-user access” on page 209).
To set up the Master password
Make sure you write
down the password in
a safe place.
1
Go to the Setup menu and choose Preferences. The Preferences window is displayed.
2
Click the Security tab and then click the Password button. The Set up Passwords
window is displayed.
3
Enter your master password and click the Record New Password button. You can type
in upper or lowercase; passwords are not case-sensitive.
4
Review the password you typed and click OK. The Password Access window is
displayed.
5
Either exit the password windows by clicking OK, or begin setting up sub-passwords in
the Password Access window (see ‘To set up sub-passwords’ below).
To set up sub-passwords
1
Click the New button in the Password Access window.
2
Enter the new sub-password and click the Record New Password button. The Password
Access window is redisplayed, with the new sub-password appearing in the list on the
left side of the window.
3
Make sure the sub-password is highlighted in the list.
4
Select the command centers and windows that users with this password won’t have
access to by clicking the appropriate names. When you select a command center or a
window, an X will appear in the Not Allowed column next to the label you selected. If
you select a command center or a window that opens other windows, an X will also
appear next to the names of the other windows.
5
Click OK. The new sub-password you’ve created becomes active.
For information on changing passwords, changing a sub-password’s access rights and
deleting a password, in the Learning Center, choose Setting up your Company, and click the
relevant topic under the heading Securing your company’s data.
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Chapter 15
Maintaining Your Company File
Backing up your Company File
Backing up your Company File
See also Your
Company File>
Your Company File
Overview> Backing
up company files in
the Learning Center.
Your business generates an enormous amount of data. Computers are very reliable, but not
perfect. You should back up (make copies of) your AccountEdge data on a regular basis.
Backing up is the copying of computer files to some form of storage device. If you have a
relatively small company file, you can simply copy the AccountEdge company file to a
separate diskette. Otherwise, you can use AccountEdge’s automatic backup to create a
compressed version of your company file (with a ‘.sit’ extension).
Don’t put your backups on the same hard drive as MYOB AccountEdge—a single disaster
can wipe out all your records.
Do make multiple backups. Sometimes disks fail in subtle ways. A disk failure can corrupt a
big chunk of your data in such a way that you may not notice it during a session. Once you
copy the damaged data onto your only backup, you’re stuck: you will not have a valid
backup and will need to re-create your company file. Multiple backups give you a greater
degree of protection.
When to back up your data
We recommend:
•
•
•
•
Daily backups—Rotational. If you use AccountEdge every day, make a backup disk
for each day of the week. If you use AccountEdge on a more sporadic basis, make two
backup copies and rotate them. Label them clearly each time to keep track of which
is your most recent backup.
Monthly backups—Archival. After completing all entries for a month, make an
archive copy and label the disk—for example, MYOB AccountEdge November 2001
Archive.
Yearly backups—Archival. After completing all entries for a year, make an archive
copy and label it, for example, MYOB AccountEdge 2000-01 Yearly Archive. Make this
backup immediately before running Start A New Year.
Backup before upgrade. Before you upgrade to a new version of MYOB
AccountEdge, you should always back up your company file.
Put your monthly and yearly backups in a safe place, preferably away from your office. Do
not use these disks again. You can reload these backups to look at information you may
have purged later on or to produce certain backdated reports.
N O TE
Single-user access Please note that making a backup requires single-user access. For more
information, see “Tasks that require single-user access” on page 209.
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Backing up your Company File
To make a backup of your data
The Backup command creates a backup of the company file you're currently using, and
compresses it to a smaller, more manageable size.
N O TE
Back up customized forms, reports, and letters separately Any customized forms, reports,
OfficeLink letters or spreadsheet templates you’ve created should be backed up separately, as they are
not part of your company file. For example, make sure you back up the Forms folder onto a disk, as this
folder contains all your customized forms.
1
Select the correct disk for the backup you are doing (daily, monthly, yearly, as specified
in ‘When to back up your data’ on page 203). If this is the first time you are doing this
type of backup, select a newly formatted disk and label it clearly. Insert the disk into the
disk drive.
2
Go to the File menu and choose Backup. The Back Up AccountEdge Company File
dialog box is displayed.
N O TE
If the backup process does not work When you installed MYOB AccountEdge, special software used
for the backup process was also installed. If a message is displayed 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 reinstall AccountEdge to use this feature.
3
Choose whether you want to check for errors before making your backup and click
Continue. We recommend checking for errors, so that should you need to revert to a
backup, data integrity is ensured. The Save dialog box is displayed.
4
Specify the location on your disk drive where you want to store the backup file.
5
Name the backup file or accept the default name. Make sure the file is saved with the
extension ‘.sit.’ In this example, we are saving the MondayBackup.sit file to a diskette.
6
Click OK or Save to begin creating your backup file.
You may get a message saying that the file exists. Make sure you are not overwriting
another backup you want to keep.
Make sure you 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 ‘Monday 3/3/01’ or
‘Backup as of 3/3/01.’
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Restoring a Backup of your Company File
Restoring a Backup of your Company File
See also Your
Company File>
Your Company File
Overview> Restoring
company files in the
Learning Center.
The Restore command closes the company file you’re currently using, decompresses an
MYOB AccountEdge backup file so you can use it and opens the backup file.
While the Restore function will not let you restore a file with the same name as one already
in the location to which you are restoring, you should always be aware of the risks with
restoring files and the possibility of overwriting a file you need. If you aren't careful, this is
one area which potentially can cause you many hours of lost work. When in doubt, take an
additional backup before restoring. Be sure to label all backups with enough information to
tell you when they were done and where you were up to in data entry.
Please note that this task requires single-user access. For more information, see “Tasks that
require single-user access” on page 209.
To restore a backup
1
Select the disk from which you want to restore and insert it in the disk drive.
2
Go to the File menu and choose Restore. The Open dialog is displayed.
3
Choose the backup file you want to restore. The current disk being accessed is
displayed in the top right of the window. Click the Desktop button. Select the disk in
which you stored your backup file and click Open. A list of all files on the disk is
displayed. Select the file you need with the mouse and then click Open.
4
Choose the destination for the restored file. You should restore the company file to
the same folder which contains your MYOB AccountEdge program (usually the MYOB
AccountEdge folder). Choose the drive and then the folder to which you want to restore
the company file, and then click Choose.
A message is displayed, letting you know that the backup file will be saved with a suffix
of ‘.old’ — for example Fothergill & Co.old.
If you are just reviewing historical information, leave the name as it is. If you intend to
go on using this restored copy as your primary company file, you should rename it after
the restore is complete.
5
User Guide
Click OK to complete the restore.
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Working with your Company File
Working with your Company File
Checking your company file for errors
See also Your
Company File>
Your Company File
Overview> Verifying
company files, in the
Learning Center.
In addition to having AccountEdge automatically check your company file for errors before
a backup, you can check your company file any time you choose.
By checking your company file for errors, you can catch minor inconsistencies in the file
before they cause serious problems.
Please note that this task requires single-user access. For more information, see “Tasks that
require single-user access” on page 209.
To check your company file for errors
1
Got to the File menu and choose Verify Company File. A confirmation dialog box is
displayed.
2
Click OK to confirm that you want to verify your company file. AccountEdge will scan
your company file for errors.
When the file verification process is complete, a message will be displayed, describing
the results of the process.
•
•
If no errors were found, congratulations! Click OK to end the company file
verification process.
If your company file is corrupted, you will need to restore from your most recent
backup. See ‘Restoring a Backup of your Company File’ on page 205.
Optimizing your company file
Over time, your AccountEdge 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. These unused areas can affect the efficiency with which
AccountEdge works with the company file and they consume space on your hard disk that
can be used for other purposes. We recommend that you use the MYOB AccountEdge
Optimization Assistant to remove the unused areas in the company file and keep your
accounting software running in top form.
For more information, in the Learning Center, choose Your Company File> Your Company
File Overview and click the topic Optimizing company files.
Purging information that is no longer needed
Purging is the process of removing data from your company file. After you’ve used
AccountEdge for a long time, you’ll notice that the size of your company file has grown
considerably. Information such as journal entries, sales, purchases, activity slips, business
contacts and sales history figures build up over time. When your company file has grown
larger than you want it to, you can remove the parts of the data that are no longer needed
from the file. For instructions on purging data, in the Learning Center, choose Month-End
Procedures> Month-End Procedures Overview and click the topic Purging information that’s
no longer needed.
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Working with your Company File
Unable to open company file—troubleshooting
See also
Troubleshooting
in the Learning
Center.
When an MYOB AccountEdge 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 Lock0001.flk, keeps
track of who is using the company file. When all users have logged out of the company file,
the lock file is deleted automatically.
Sometimes, however, the lock file may not delete itself automatically. This can happen if
your computer crashes or an error causes your company file to close unexpectedly. Locked
files can accumulate in the company file folder even when no company files are in use; this
can result in error messages appearing when you try to access your company file again.
To resolve these error messages, you must ensure that all users log out of the company file
and close down their MYOB AccountEdge software. You then need to view 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.
CA UT I ON
A lock file should not be deleted when you are optimizing your company file.
P O S S IB LE ER R O R M E SS A G ES T HA T M A Y A P P E A R AS A RE S UL T O F LO C K FI LE S
Someone else is currently signed on with the same User ID This message indicates that
either someone is using the company file with your User ID or that a lock file from a
previous session still exists.
No more than ten company files in any folder may be opened at one time While it’s
unlikely there are actually ten company files open in your MYOB AccountEdge folder, this
message indicates there are ten lock files in the folder, and only ten lock files can be created
in one folder.
You have reached the maximum number of simultaneous users allowed under your
MYOB AccountEdge Workstation License If you know this is incorrect, the problem may
be a lock file.
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Using your Company File on a Network
Using your Company File on a Network
See also Working
on a Network in
the Learning Center.
The power behind MYOB AccountEdge lies in its ability to run on your company's network,
with more than one person using the same company file at the same time. Using this power,
you'll be able to get more of your accounting functions completed more quickly.
AccountEdge operates a little differently from software programs that don't run on
networks. As your accounting records are vital to your business, it's important for you to
understand how AccountEdge works in your network environment.
The way you set up a company file in AccountEdge can affect the people in your company
who use the company file.
N O TE
This section on using your company file on a network applies to you only if you are using
Mac OS version 8.6 or version 9 If you are using Mac OS X, please refer to the Late-Breaking
Changes section in the MYOB Learning Center for more information on Mac OS X and multi-user
capability.
How preferences work in a network environment
Some of the preferences you can choose in the AccountEdge Preferences window can affect
how everyone works with your company file. As these preferences, known as system-wide
preferences, may affect other people, it's a good idea to be aware of the effects of each
selection you make in the Preferences window.
Each system-wide preference is clearly marked with the word System-wide in the
Preferences window.
For more information about preferences, in the Learning Center, choose Setting up Your
Company> Personalizing a Company, click the topic Customizing your MYOB AccountEdge
system and then click Customizing work preferences.
How passwords work in a network environment
You can safeguard your company's accounting data by setting up passwords that prevent
people from using parts of the company file that they don't need to use. See ‘Setting up
Passwords’ on page 202 for information on setting up passwords.
When you use the Password Access window to restrict access to specific windows in
AccountEdge, you may also restrict access to information shown in lists and reports
throughout the entire AccountEdge system. For example, if you set up a password so Person
A can't use the Purchases window, Person A will also be restricted from seeing any entries
created in that window in AccountEdge, such as those that normally appear in the
Purchases and Payables Journal report or the Find Transactions window. This ensures that
Person A has no opportunity to view your company's purchasing records. Any information
that doesn't apply to purchases, however, would still be displayed.
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Using your Company File on a Network
Protecting your accounting data using file locking
When two or more people use AccountEdge simultaneously to keep accounting records for
your company, they all access the same company file at the same time. This means that two
or more users might be entering sales, writing checks, creating customer cards and so on, at
the same time.
AccountEdge uses a special function called file locking that makes it possible for more than
one user to enter information in the same company file at the same time. File locking is one
of many features built into MYOB software that allow you and your coworkers to work
together in AccountEdge.
As more than one person can use an AccountEdge company file, you might run into
situations where two or more people are making entries at the same time. There also are
times when important maintenance procedures affect your entire company file, such as
when you back up a company file. In each case, MYOB software uses file locking to protect
your accounting data. File locking can take two forms: multi-user file locking and single-user
file locking.
Multi-user file locking
Multi-user file locking is used by MYOB AccountEdge when more than one person is
entering information into the same company file at the same time. It's used to prevent
different pieces of data from “colliding” into each other when they're simultaneously
entered into your company file; such a situation, if not prevented, could seriously damage
the company file.
Another instance of multi-user file locking occurs when you're working with a particular
record in the Sales, Purchases, Historical Sale, Historical Purchase, Receive Payments,
Pay Bills, Settle Returns & Credits and Settle Returns & Debits windows. If you've marked
the Automatically Refresh Lists When Information Changes preference, if another
person changes or removes the same record you're working with in one of the windows
listed above, the window you're using will automatically close.
Tasks that require single-user access
When you share your company file on a network, several users can have access to the
company file at the same time. However, a few important AccountEdge tasks require that
only one user is using the company file. Many of these tasks are file-maintenance
procedures, such as backing up your company file and checking your company file for
errors. These tasks require the ‘full attention’ of the company file while they’re being
performed. Single-user file locking ensures that only one user is using a company file when
these tasks are being performed.
When you begin to perform a task that requires a single-user file lock, other users cannot
have the company file open. If you attempt to begin one of these tasks when the file is open
on another user’s workstation, AccountEdge will prevent you from starting the task.
Similarly, if a single-user file lock is in effect on a company file, no other users will be able to
open the file.
When you open a company file, you can specify that you want to activate single-user file
locking. In the Sign-On window that is displayed when you start up AccountEdge, choose
the Single-User Access option.
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Using your Company File on a Network
TIP
View a list of users To quickly check whether other users are currently using the company file, go to
the File menu and choose Active Workstations.
The tasks in which single-user file locking occurs include:
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Backing up a company file
Restoring a backup file
Company File Verification—checking a company file for errors
Purging journal entries, closed sales/purchases and business contacts (contact log)
Exporting AccountEdge data
Importing data into AccountEdge
Starting a new fiscal year
Starting a new payroll year
Loading payroll tax tables
Optimizing a company file
Setting up, changing or removing passwords
Setting up, changing or removing an employee’s payroll information
Creating, changing or removing payroll categories
Creating, changing or deleting report batches
Printing and displaying reports when others are using the same company file
When you're printing reports on your printer or displaying reports on your computer
screen and other people are using the same company file, you can choose to activate multiuser file locking yourself.
Before you print or display a report, open the Report Customization window for the
report. You can mark the Prevent Data Changes During Report Generation checkbox to
activate multi-user file locking and prevent other users from adding, changing or removing
any information from the company file while MYOB AccountEdge is generating the report.
When you print or display the report while this checkbox is marked, the report will be as up
to date and accurate as possible.
Keep in mind, however, that a few MYOB AccountEdge reports take some time to be
generated. You might want to consider printing these lengthy reports at times (for example,
at the end of the work day) when other users won't be forced to wait for the report to be
generated before they can begin making entries into the company file again.
You can also leave the Prevent Data Changes During Report Generation checkbox
unmarked. When you do this, other users will be able to continue to make entries into the
company file, but your report may not look exactly the way you intended. If another user
changes information that affects the report as it's being printed or displayed, that particular
entry may be indicated by zeroes or blank spaces on the report. In addition, new entries that
other users make might affect the total amounts on some reports. With this in mind, you
should consider printing or displaying the report at a time when you know no entries are
being made that will affect the completeness of the report.
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Using your Company File on a Network
Storing custom reports on a network
When you create custom reports in AccountEdge, the information about the custom reports
is stored on your workstation's hard disk, not on the network. Other users of the same
company file won't be able to use your custom reports unless you copy the custom reports'
information to the appropriate locations on their workstations. (You may want to ask your
system administrator to perform this task.)
Your custom report information is stored in the CUSTOM folder inside the folder on your
workstation in which MYOB software is installed. You can use the Finder to copy the
custom report files onto other users' workstations.
N O TE
If you've created custom reports with a previous MYOB product If you've created custom
reports with a previous MYOB product, you may not be able to display and print them using MYOB
AccountEdge version 2. As a result of the addition of new report fields, changes of field names or changes
to the length of information that will be displayed and printed for a field, your custom reports may not be
available in AccountEdge version 2. You may need to customize those reports again.
Displaying up to date information
Each time you open a list window (such as the Find Transactions window), or display an
MYOB AccountEdge report in the Screen Report 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. However, if you keep the list or report displayed on your computer
screen for some time, the data that other users enter during that time may make the
information on your screen obsolete or incorrect. With this in mind, it’s a good idea to keep
the information that’s displayed on your computer screen as up to date as possible; that way
you’ll be sure you’re equipped with the latest date when you make your company’s
financial decisions.
•
•
To have the information displayed on your screen updated automatically, mark the
Automatically Refresh Lists when Information Changes checkbox in the System
view of the Preferences window (from the Setup menu, choose Preferences and
then click the System tab).
To manually update the information displayed on your screen, go to the Window
menu and choose Refresh All. To update an on-screen report in the Screen Report
window, you’ll need to re-display the report using the procedure you originally
followed to display the report.
N O TE
Automatically refreshing information will make the system operate more slowly for
everyone Carefully consider whether you need to have on-screen information refreshed automatically.
If you choose this option, AccountEdge will operate more slowly for everyone who's accessing it. If
speedier data entry is a priority for you, we recommend that you choose to manually refresh information
often instead.
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Using your Company File on a Network
Optimizing the performance of AccountEdge
As it relies on the network to get the job done, AccountEdge needs network hardware and
software components to be working as seamlessly as possible. The following list outlines a
number of ways in which you can get the most out of your accounting system in the least
amount of time.
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Use single-user access whenever possible.
Exit AccountEdge when you're not using the program.
Optimize your company file frequently (see ‘Optimizing your company file’ on
page 206).
Do not mark the Automatically Refresh Lists When Information Changes
checkbox in the Preferences window.
Do not check for duplicate document numbers.
Use Easy-Fill when entering card names, account names, and item numbers or
names.
Enter accurate transactions.
Avoid leaving list windows open on your computer screen.
Make additions and changes to “master records” when you're the only person using
the company file.
Use only a few linked accounts for inventoried items.
Combine line item quantities on sales and purchases.
Mark the Prevent Data Changes During Report Generation checkbox in the
Preferences window.
Generate large reports when you're the only person using the company file.
Print reports by a specific month instead of by a date range.
For more information on each of the above, in the Learning Center, choose Working on a
Network and click the topic Optimizing AccountEdge to ensure that AccountEdge runs at peak
performance.
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APPENDIX
A
Importing and Exporting
Data
Importing Accounting Data
See also Importing/
Exporting>
Importing/Exporting
Overview> Importing
data into AccountEdge in
the Learning Center.
MYOB AccountEdge allows you to take various bits of information entered in other
software programs and incorporate it into your company file. You can also incorporate
information entered in one MYOB software company file into another MYOB software
company file. This process is called importing data.
You can import the following types of information into MYOB AccountEdge: accounts,
items, cards, sales, purchases, activities, activity slips and journal entries.
For more information, in the Learning Center, choose Importing/Exporting and click
the topic To import account, item, card, General Journal entry, activity, activity slip, sale and
purchase information.
Importing from CaseWare You can import journal entries from CaseWare directly into
MYOB AccountEdge. For more information, see ‘Exporting to and Importing from
CaseWare’ on page 217.
If you are importing from Quicken In the Learning Center, choose
Importing/Exporting and click the topic To import QIF information.
Before you import data
Before you start the import process in AccountEdge, you will need to export the data
you want from the software program you’ve used to create the data. The data you want
to import must be stored in a file, known as an import file, that uses either the tabdelimited or comma-separated file format.
Please note that this task requires single-user access. For more information, see “Tasks
that require single-user access” on page 209.
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Appendix A Importing and Exporting Data
Importing Accounting Data
To import data
1
Go to the File menu, choose Import Data, and then choose the type of data you want
to import. The Import File window is displayed.
2
Select the import file format and the type of the first record and enter other information
as required. For more information, click the Help button.
3
Click Continue. The Open dialog box is displayed.
4
Locate the import file and click Open. The Import Data window is displayed.
5
Match the import fields with the MYOB AccountEdge fields. To do this, highlight the
name of a field in the Import Fields column. Then match it with a field in the
AccountEdge Fields column by clicking that field. When you click the AccountEdge
Fields column, the import field you selected will appear in the Matching Import Field
column.
N O TE
Some fields must be imported MYOB AccountEdge fields that have asterisks (*) next to them must
have matching import file fields assigned to them.
If you want to remove an import field from the Matching Import Field column, simply
click it. If all the fields in the import file match the fields in the AccountEdge Fields
column, you can match all the fields at one time by clicking the Match All button at the
bottom of the window.
6
After you have matched the fields, click the Import button. The data is imported into
MYOB AccountEdge.
If you get a warning or an error message indicating that the import was not successful, refer
to the import log file in your MYOB AccountEdge program folder for a list of errors or
warnings. This is a text file—readable by most word processors—that lists any problems
encountered during the import.
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Appendix A Importing and Exporting Data
Exporting Data from MYOB AccountEdge
Exporting Data from MYOB AccountEdge
See also
Importing/
Exporting>
Importing and
Exporting Overview>
Exporting Data from
AccountEdge, in the
Learning Center.
You can take various bits of information entered in MYOB AccountEdge and use it in other
software programs or in other MYOB software company files. This process is called exporting
data.
You can export the following types of information from MYOB AccountEdge: accounts,
items, cards, activities and activity slips, journal entries, sales and purchases.
You can export data from MYOB AccountEdge in a tab-delimited or comma-separated file
format.
For more information, in the Learning Center, choose Importing/Exporting and click the
topic To export account, item, card, General Journal entry, activity, activity slip, sale and purchase
information.
N O TE
Single-user access Please note that this task requires single-user access. For more information, see
“Tasks that require single-user access” on page 209.
To export data
User Guide
1
Go to the File menu, choose Export Data, and then choose the type of data you want to
export. The Export File window is displayed.
2
Select the export file format and enter other information in this window. For detailed
field help, click the Help button.
3
Click Continue. The Export Data window is displayed.
4
Choose the AccountEdge 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 AccountEdge
Fields column. The title Field 1 will appear in the Export Order column next to the field
you selected. The field name will appear at the top of the Export Fields column on the
left side of the window.
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Appendix A Importing and Exporting Data
Exporting Data from MYOB AccountEdge
5
Repeat the previous step for each field you want to export.
N O TE
Some fields must be exported MYOB AccountEdge fields that have asterisks (*) next to them must
be included in the Export Fields column before you can export any data.
If you want to remove a field’s name from the Export Fields column, click the field’s
name in the AccountEdge Fields column. If you want to export all the fields in the
order they’re shown in the AccountEdge Fields column, click the Match All button.
6
216
When you have selected the fields, click the Export button. In the dialog box that is
displayed, enter a file name and location for the export file and click OK or Save. The
file is exported.
MYOB AccountEdge, Version 2.0 us
Appendix A Importing and Exporting Data
Exporting to and Importing from CaseWare
Exporting to and Importing from CaseWare
Accountants routinely ask their clients to provide financial information in an electronic
format that can be loaded into their software programs. This makes it easier for the
accountants to examine and analyze their clients’ records. After examining their records,
accountants may make adjustments to the records that need to be entered into
AccountEdge.
If your accountant requests an electronic copy of your accounting records, you can use
MYOB AccountEdge to create a comma-separated text file that can be read by CaseWare, a
client write-up software package that is popular among accountants.
The file that is created through the export process will contain your company information,
account information and journal entries. See ‘To export to CaseWare’ below.
If your accountant makes adjusting journal entries that he or she wants you to enter into
your AccountEdge company file, you can also use AccountEdge to import an electronic
copy of the journal entries that your accountant gives you. All transactions will be imported
as General Journal entries. See ‘To import from CaseWare’ on page 218.
To export to CaseWare
1
Make a backup of your MYOB AccountEdge company file.
2
Go to the File menu, choose Accountant Link and then Export to CaseWare. The
Export File window is displayed.
3
If you want to export journal entries in addition to company information and accounts,
mark the Include Journal Entries in Export File checkbox. (Keep in mind, however,
that exporting journal entries may take some time, and probably will create a very large
export file.)
4
From the Dated to end of list, choose the most recent month you want to include in the
file. All journal entries from the first day of the fiscal year through the last day of the
month you selected will be included in the text file.
5
When you're ready to create the CaseWare export file, click the Export button.
6
In the dialog box that is displayed, specify a location and file name for the export file
(do not change the .TXT file name extension). Click OK or Save to begin creating the
CaseWare export file.
When the file has been created, you're ready to send the file to your accountant, who
can then import it into CaseWare.
User Guide
217
Appendix A Importing and Exporting Data
Exporting to and Importing from CaseWare
To import from CaseWare
Before you begin the import process, you should obtain from your accountant the import
file containing the General Journal entries that you want to import.
N O TE
Single-user access Please note that this task requires single-user access. For more information, see
“Tasks that require single-user access” on page 209.
1
Make a backup of your MYOB AccountEdge company file.
2
Go to the File menu, choose Accountant Link and then Import from CaseWare. The
Open dialog box is displayed.
3
Locate the import file that your accountant sent you and click Open. The import
process begins immediately.
If you get a warning or an error message indicating that the import was not successful,
refer to the import log file in your MYOB AccountEdge program folder for a list of errors
or warnings.This is a text file—readable by most word processors—that lists any
problems encountered during the import.
218
MYOB AccountEdge, Version 2.0 us
APPENDIX
B
More Tools for Managing
Your Business
In addition to being a superior accounting system, MYOB AccountEdge can be an
effective business management tool. This section lists some tools available in
AccountEdge. They are described in detail in the MYOB Learning Center.
Maintaining a Contact Log
The Contact Log in MYOB AccountEdge lets you maintain a comprehensive list of
business contacts, which includes sales, purchases, phone calls, mailings and so on, for
every person and company in your Card File. Use your business contacts and the
Contact Log as your business “diary.” When a customer or vendor calls you, you can use
the Contact Log to document a complete history of your business relationship with that
contact.
You can even use the business contacts you enter in AccountEdge to create a system of
billing for the time you spend with your customers. See the Billing for Time chapter on
page 141.
For more information on creating and maintaining a contact log in MYOB
AccountEdge, in the Learning Center, choose Card File and click the topic Business
Contacts Overview.
Creating personalized letters
Communication with your business contacts is essential to the success of your business.
With OfficeLink, you can easily create personalized letters to your clients, whether it is
a note of appreciation, a reminder about unpaid invoices, or a letter conveying the
status of an order. You can use one of the many OfficeLink templates to create the letters
quickly. OfficeLink then seamlessly exports the letters and your contacts’ card file
information into your word processing program, from where you can print them.
For more information on how to use OfficeLink, in the Learning Center, choose Forms
and Reports> OfficeLink and click the topic Creating personalized letters using OfficeLink.
219
Appendix B
More Tools for Managing Your Business
Setting up reminders using the To Do List
The To Do List in MYOB AccountEdge contains lists of reminders that inform you to
perform your regular business tasks on a consistent basis. The To Do List will tell you, at a
glance, when you need to recontact a client, when your stock needs to be reordered, when
your discounts expire, and much more. MYOB AccountEdge uses the dates you set up in the
Business Calendar window to add reminders to the To Do List. If the number of days for a
reminder—except for money due to you that’s overdue—places the reminder on a nonbusiness day, the reminder will be moved to the previous business day.
For more information on how to use the To Do List, click the To Do List button in any
command center and click the Help button. The Learning Center topic describing the To
Do List window is displayed.
Organizing your cards
Identifiers are one-letter labels you can assign to cards to help you organize your cards into
groups. When you create reports or view information about cards, you can limit the
information you view to that of a specific group of cards by indicating the identifiers you’ve
assigned to the cards in that group.
To create identifiers
1
Go to the Lists menu and choose Identifiers. The Identifiers window provides a field
for each of the 26 letters of the alphabet.
2
Enter a description for as many of the identifiers as you want and click OK.
To assign identifiers to a card
1
Display the required card in the Card Information window.
2
Click the Card Details tab and click the Identifiers button.
3
Mark the checkbox beside the identifiers you want to assign to the card.
4
Click OK.
Recording additional information about your cards
If you need to record additional information about your cards that may be specific to your
business, you can use the custom lists and fields in the Card Information window to do so.
MYOB AccountEdge contains three custom lists and three custom fields for each card type.
You can label them according to your needs.
Custom fields allow you to enter any information you like—for example, they can be used
to indicate an employee's last review date. You then use the Report Design feature to display
that information on your reports.
Custom lists enable you to create lists of predefined attributes that remain standard over
time and can be used to sort your cards—for example, they can be used to sort customers
according to your sales territories. You then use AccountEdge’s Report Filter to choose
which sales territory list you want to display in your report.
220
MYOB AccountEdge, Version 2.0 us
Appendix B
More Tools for Managing Your Business
For information about creating custom lists and custom fields for your cards, in the
Learning Center, choose Setting up your Company, then click a topic under the heading
Using custom lists and fields in the Table of Contents.
Linking a picture to a record
You can link a picture—a PICT file—to a card or item. The picture is displayed in the Card
Information or Item Information window.
The pictures are stored in the Graphics folder in your MYOB AccountEdge program folder.
If you move your company file, you must move the Graphics folder to the same location to
continue displaying the pictures.
To display a picture
1
Display the required card in the Card Information window (or item in the Item
Information window).
2
Click the Card Details tab (or the Item Details tab) and double-click the picture file
area. The Picture Information window is displayed.
3
Click the Link button. The Open dialog box is displayed.
4
Locate the graphic file you want to display for this card or item and then click OK or
Open. The Picture Information window is displayed, with the selected picture
appearing on the right.
5
Click OK. The picture appears in the Card Details/Item Details tab.
To change the picture
If you want to replace the displayed picture with another, double-click the displayed picture
and continue with Step 3 of the above procedure.
To remove a displayed picture
If you want to remove the displayed picture from the Card Details/Item Details tab,
double-click the picture. In the Picture Information window, click the Unlink button and
then click OK. The graphic will disappear from the Card Details/Item Details tab but will
remain in the Graphics folder.
Using the Business Calendar
MYOB AccountEdge has a Business Calendar that you can customize to suit the needs of
your business. You can:
•
•
Establish the days on which your business is closed for the upcoming year, so
reminders on your To Do List appear on open-for-business days.
Note which days of the year contain important company events.
Display the Business Calendar by choosing Business Calendar from the Setup menu. For
more information on using the Business Calendar, click the Help button in this window.
User Guide
221
Appendix B
222
More Tools for Managing Your Business
MYOB AccountEdge, Version 2.0 us
Index
% 9
A
B
C
D
E
F
G
Symbols
? (help) icon, references online help
topics 10
H
I
J
K
L
M N O
P
Q
reconciling at month-end 192
setting up 24
transferring funds to foreign
account 161
Accounts Easy Setup Assistant 24
Numerics
1099 statements
printing at year-end 199
setting up vendor card to report
payments 32
A
Account Information window 111
account levels
and account types 24
changing 25
account types 24
accounting periods
closing 194
number of 17
accounts
adding a new account 110
adjusting to reflect work in
progress 152
creating new accounts 24
deleting 114
Detail accounts 25
entering opening balances 26
exporting 215
exporting to CaseWare 217
finding 112
for tracking multicurrency 154
Header accounts 25
importing 213
making changes to 113
accounts list
how you want to build 17
setting up 24
Accounts List window 111
accrual categories
assigning to employees 130
creating 130
deleting 131
making changes to 131
active workstations, displaying list of
users 210
activities
creating time billing 145
defined 145
deleting 114
exporting 215
importing 213
making active or inactive 116
making changes to 113
setting billing rates for 144
Activities List window 145
R
S
T
U
V W X
Y
Z
reviewing 149
using timer to create 147
Adjust Inventory window 98
adjusting inventory 98
adjustments, using 13th period to
enter 17
Aging Date window 89
Analysis 18 71
Analyze Inventory window 191
analyze payables 89
Analyze Payables window 89
Analyze Payroll window 139
Analyze Sales window 71
arrows. See zoom arrows
ATM withdrawals and transfers,
recording 60
audit trail, maintaining 123
Auto-Build Information window 101
Auto-Build Inventory window 102
auto-building
items 101
items using the To Do List 102
average cost 104
Activity Information window 145
activity slips
adjusting books to show value of
work in progress 152
creating a single slip 146
creating multiple slips 148
deleting 149
exporting 215
finding 149
importing 213
making changes to 149
B
backing up
company file 203
frequency 203
setting reminder for 23
backorder
placing items being purchased on 82
placing items being sold on 64
backorder letters 219
223
Index
backslash character, item numbers with 41
% 9
A
B
C
D
E
F
G H
backslash character, item numbers
with 41
backup file, restoring 205
bank accounts
reconciling 192
reconciling for the first time 46
bank deposit, preparing 52
bank interest earned, recording 193
Bank Register
entering transactions in 55
finding a transaction using 120
using the Get Statement button 57
using the Split button 56
bank service charges, recording 193
bank statement
adding transactions to MYOB
AccountEdge from 58
importing into MYOB
AccountEdge 57
matching transactions with 58
supported formats when
importing 57
base selling price of item 44
billing for time. See time billing
billing rates
setting for an activity 144
setting for customers 144
setting for employees 144
setting for vendors 144
bills
paying 91
paying in the Bank Register 55
recording 80
blank lines, inserting between line
items 66 84
bonuses, including on paycheck 136
budgets
allocating for jobs 48
reviewing and adjusting at monthend 191
Business Calendar 221
business contacts, maintaining list
of 219
buying details, setting up default 31
customizing forms
I
J
K
L M N O
P
Q
importing 213
linking picture to 221
making active or inactive 116
making changes to 113
using advanced search filters to
find 112
using custom lists and fields 220
CaseWare
exporting to 217
importing from 218
Cash Flow Worksheet window 191
Card Information window 29 110
221
cards
adding new cards 110
creating customer cards 29
creating employee cards 36
creating vendor cards 32
deleting 114
exporting 215
finding 112
224
S
T
U
V W X
Y
Z
credit card statement
adding transactions to MYOB
AccountEdge from 58
importing into MYOB
AccountEdge 57
matching transactions with 58
credit terms
changing customer terms during
sale 63
changing when recording a
purchase 81
setting up default 28 31
cash flow, reviewing at monthend 191
Credit Terms window 63 81
changing
records 113
transactions 121
Currency Information window 154
charging for time. See time billing
check number, voiding 60
checking accounts, reconciling at
month-end 192
checks
entering 53
printing 165
recording in the Bank Register 55
saving as recurring 54
collection letters 219
command center 18
company file
backing up 203
checking for errors 206
creating new 15
experiment with sample company
data 14
information you need for setting
up 21
optimization 206
restoring backup of 205
unable to open, troubleshooting 207
using on a network 208
company information, entering 16
components, using to auto-build
items 100
consolidated tax codes 40
contact log 219
Contact Log Entry window 219
C
R
contact reminder 220
conversion month
defined 15
entering 17
Copy From button 41
cost of sales, account for tracking 42
Count Inventory window 45 103
counting inventory 103
credit card
recording payments 59
recording purchases 59
currency calculator 160
Currency List window 154
custom fields
recording card details using 220
recording item details using 106
custom lists
printing on purchases and
invoices 107
using in cards 220
using to filter inventory reports 107
using to group items 107
custom price levels 105
customer credits
creating by reversing a sale 76
creating manually 76
deleting 122
issuing to customers 76
settling by applying to a sale 77
settling by writing a refund check 78
customer overpayments 74
customer payments
discount for early payment 74
grouping with undeposited funds 73
recording in the Bank Register 55
customer statements, printing 165
customers
assigning a price level to 106
changing credit terms of during
sale 63
creating cards 29
setting billing rates for 144
setting up default credit terms 28
customizing forms
adding pictures and logos 170
drawing lines on forms 170
drawing rectangles on forms 170
hiding inactive fields 174
inactivating fields 173
moving elements around on the
form 173
previewing a customized form 168
printing a customized form 169
removing elements 173
resizing elements 171
saving a customized form 169
MYOB AccountEdge, Version 2.0 us
Index
import log file 214
customizing MYOB AccountEdge 23
% 9
A
B
C
D
E
F
G
setting up page properties 168
specifying form size 168
using handles to resize elements 171
using the Tool palette 170
customizing MYOB AccountEdge 23
D
data
exporting from MYOB
AccountEdge 215
importing from other
applications 213
limiting access to. See passwords
removal of data no longer
needed 206
data fields
changing font characteristics of on a
form 172
changing size of 171
inactivating on a form 173
data file. See company file
deduction categories
assigning to employees 132
creating 131
deleting 132
making changes to 132
deductions, linked account for 35
H
I
J
K
L
M N O
P
Q
sales 65
sending reports by 183
Employee Payroll Information
window 37
employees
assigning accrual category to 130
assigning deduction category to 132
assigning employer expense category
to 133
assigning wage category to 129
creating cards 36
pay history, entering 38
paying 135
setting billing rates for 144
viewing sales history for 72
employer expense categories
assigning to employees 133
creating 132
deleting 133
making changes to 133
employer expenses, linked account
for 35
end-of-month. See month-end tasks
end-of-year
end of fiscal year tasks 197
end of payroll year tasks 199
errors, checking for in company
file 206
R
S
T
U
V W X
Y
fiscal year
last month of 15
starting a new year 198
what is your fiscal year? 15
when to close 196
fonts
changing on individual reports 180
default in MYOB AccountEdge 185
foreign currency
adding a new currency 154
making changes to 113
foreign purchases. See multicurrency
foreign sales. See multicurrency
Form menu 167
forms
customizing. See customizing forms
finding 164
plain paper layout, choosing 165
preparing to print 184
pre-printed layout, choosing 165
printing 165
reviewing before printing 166
Forms Selection window 165
freight, charging customer for 65
G
deleting
records 114
transactions 122
Excel, viewing MYOB reports in 183
exchange accounts for tracking foreign transactions 154
General Journal entries
exporting to CaseWare 217
importing from CaseWare 218
deposits
recording 50
recording in the Bank Register 55
saving as recurring 51
expiring discounts alert 220
Get Statement button 57
Export Data window 215
Getting Started guide 12
Description field, expanding for long
descriptions 23
exporting data
from MYOB AccountEdge 215
to CaseWare 217
E
early payment discount 74
Easy Setup Assistant 22
Easy-Fill 23
e-mail
purchases 83
User Guide
H
Header accounts 25
Detail accounts 25
discounts
giving customers 64
giving customers for early
payment 74
receiving early payment discount
from vendor 92
receiving from vendor 82
reversing customer payments
with 123
reversing vendor payments with 123
Z
finished item, defined 100
F
headers, using to group line items in
transactions 66 84
faxing
purchases 83
reports 183
sales 65
Help buttons, in windows 11
Field Information window 173
historical sales, entering 30
file locking
single-user 209
using to protect your data 209
HTML format, saving reports in 183
finance charges
calculating 75
deleting 75
Find Transactions
description 18
finding transactions using 118
finding transactions that you have
entered in MYOB
AccountEdge 118
? (help) icon, references online help
topics 10
historical purchases, entering 33
I
I Buy this Item 41
I Inventory this Item 41
I Sell this Item 41
Identifiers, using to group cards 220
import file formats, for importing
statements 57
import log file 214
225
Index
importing
% 9
New Company File Assistant 16
A
B
C
D
E
F
G H
importing
bank statements 57
credit card statements 57
data from CaseWare 218
data from other applications 213
inactivating records not used
frequently 116
Index to Reports window 176
initial bank reconciliation 46
international transactions. See multicurrency
Internet banking
importing statements into MYOB
AccountEdge 57
recording transfers 60
Internet, viewing online help file
on 23
inventory
auto-building items 101
auto-building items using the To Do
List 102
changing prices of 104
counting 103
custom lists and reports 107
custom price levels 105
making adjustments to 98
making transfers 100
reports 108
using custom fields 106
using custom lists 107
inventory adjustments, creating to
offset an autobuild or
transfer 122
invoices
creating time billing invoices 150
entering 62
entering line items on 63
inserting blank lines in 66
printing 165
printing custom lists on 107
showing subtotal of line items on 66
using headers to group line items
on 66
Item Information window 41 221
items
asset account for tracking value of 42
auto-building 101
auto-building using the To Do
List 102
average cost, how it’s calculated 104
base selling price 44
changing prices of 104
changing prices of multiple items at
once 104
counting 103
creating item records 41
default reorder quantity 43
deleting 114
226
I
J
K
L M N O
P
Q
entering opening quantities and
value 45
exporting 215
finding 112
finished item, defined 100
I Buy this Item checkbox 42
I Inventory this Item checkbox 42
I Sell this Item checkbox 42
importing 213
including on time billing
invoices 143
last cost 104
linking picture to 221
making active or inactive 116
making adjustments to account for
loss 98
making changes to 113
making inventory transfers 100
number per buying unit 43
number per selling unit 44
price levels, setting custom 105
setting restocking alert 43
setting up 41
using custom fields for recording
details of 106
using custom lists to group 107
viewing purchase history 90
viewing sales history 72
J
jobs
assigning to purchase 82
budget allocation 48
changing levels of 48
deleting 114
Detail jobs 47
entering opening balances 48
finding 112
Header jobs 47
making active or inactive 116
making changes to 113
setting up 47
journal entries
exporting 215
importing 213
L
R
S
T
U
V W X
Y
Z
linked accounts
setting up payroll accounts 35
setting up purchase accounts 31
setting up sales accounts 29
lists
adding records to 110
deleting records from 114
inactivating records in 116
Lock Periods preference 194
logos
adding to forms 170
changing size of on forms 171
M
Mail Merge button 71
mailing labels, printing 165
mailouts 219
Match Transaction window 58
matching transactions 58
minimum stock levels 43
month-end tasks
closing accounting period after
completing 194
paying payroll taxes 194
reconciling accounts 192
reviewing and adjusting budgets 191
reviewing cash flow 191
reviewing order status of items 191
reviewing your trial balance 190
multicurrency
’I deal in multiple currencies’
preference 154
accounts for tracking foreign
purchases 155
accounts for tracking foreign
sales 155
adding a new foreign currency 154
exchange accounts 154
reports 160
setting up MYOB AccountEdge
for 154
tracking realized currency
gains/losses 158
transferring funds to foreign
account 161
unrealized gains and losses 159
MYOB Learning Center 11
last cost 104
Learning Center 11
learning tools 10
line items
defined 81
entering in the Purchases window 81
entering in the Sales window 63
inserting blank lines between 66 84
showing subtotal of 66 84
using headers to group 66 84
N
network
how passwords work on 208
how preferences work on 208
printing reports 210
storing custom reports on 211
using your company file on 208
New Company File Assistant 16
MYOB AccountEdge, Version 2.0 us
Index
Purchases Register
new company file, creating 15
% 9
A
B
C
D
E
F
G
new company file, creating 15
new features in MYOB AccountEdge
version 2 13
new year
starting a new fiscal year 198
starting a new payroll year 200
non-cash wages, including on
paycheck 136
O
OfficeLink
creating collection letters 71
creating personalized letters 219
online banking, importing statements into MYOB
AccountEdge 57
online help. See MYOB Learning Center
opening balances
entering for accounts 26
entering for jobs 48
optimizing your company file 206
orders
converting an order to a bill 86
converting an order to an invoice 68
converting several orders to bills at
once 87
converting several orders to invoices
at once 69
entering purchase orders 80
entering sales orders 62
overdue invoices
creating collection letters using
OfficeLink 71
viewing list of 71
overpayment by customer 74
P
Password Access window 202
passwords
how they work in a network
environment 208
setting up master password 202
setting up sub-passwords 202
pay basis 37
Pay Bills window 91
Pay Employees window 135
pay frequency, specifying 37
pay history, entering for
employees 38
payables, analyzing 89
paychecks
changing 137
deleting 137
including sick pay on 136
User Guide
H
I
J
K
L
M N O
P
Q
including types of wages on 136
including vacation pay on 136
linked account for 35
printing 137 165
reversing 137
saving as recurring 137
writing 135
payment method, setting up
default 28
payroll
setting up 34
setting up linked accounts 35
R
S
T
U
V W X
Y
Z
Transactions CAN’T be Changed 23
123
Prepare Bank Deposit window 52 122
price levels
assigning to customer 106
creating custom 105
prices
changing item prices 104
changing prices of multiple items at
once 104
printers, preparing to print reports
and forms 184
payroll categories
assigning to employees 37
creating 128
deleting 114
finding 112
making changes to 113
reviewing 35
reviewing on paycheck 136
printing
checks as you record them 54
choosing page setup options 185
invoices as they are recorded 65
payments as they are recorded 92
purchases as they are recorded 83
reports when others are using company file 210
payroll checks. See paychecks
purchase activity, viewing 88
Payroll Easy Setup Assistant 34
purchase details, setting up 31
payroll taxes
defined 134
paying 194
purchase history
viewing for items 90
viewing for vendors 90
payroll year
end-of-year tasks 199
entering current 34
starting a new year 200
when to close 196
purchase layout, setting up
default 31
pending purchases. See purchase
orders
pending sales. See sales orders
personalized letters
creating 219
printing 165
pictures
adding to forms 170
changing size of on forms 171
linking to card records 221
linking to item records 221
removing from records 221
replacing in records 221
Portable Document Format (PDF) file
saving purchases as 84
saving reports as 183
saving sales as 66
preferences
how they work on a network 208
I Prefer to Use Help From the
Internet 23
Prevent Data Changes During Report
Generation 210
Select and Display Account Name,
Not Account Number 23
setting up 23
system-wide preferences 208
time billing 142
purchase orders
entering 80
printing 165
purchases
assigning jobs to 82
changing credit terms when
recording 81
changing status of 86
choosing type of 80
deleting 122
e-mailing 83
entering 80
exporting 215
faxing 83
from overseas vendors. See multicurrency
historical purchases, entering 33
importing 213
inserting blank lines in 84
line items on, entering 81
printing custom lists on 107
recording in the Bank Register 55
reports 90
saving as a PDF file 84
saving as recurring 84
setting up linked accounts 31
viewing list of unpaid purchases 89
with credit card 59
Purchases Easy Setup Assistant 31
Purchases Register
finding transactions using 119
viewing and editing purchases 88
227
Index
Purchases window
% 9
A
B
suppliers. See vendors
C
D
E
F
G H
Purchases window
showing subtotal of line items 84
using headers to group line items 84
purging information 206
Q
Quicken, data import 213
quotes
converting to orders or bills 86
converting to orders or invoices 68
recording a vendor’s quote 80
recording quotes made to
customers 62
R
reactivating a record 116
realized gains and losses
tracking on sales and purchases 158
tracking on transfers 159
Receive Money window 50
receiving money 50
Reconcile Accounts window 46
reconciling accounts
at month-end 192
for the first time 46
matching transactions with bank
statement 58
records
creating new 110
deleting 114
inactivating/reactivating 116
making changes to 113
recurring transactions
creating 124
deleting 126
making changes to 126
saving checks as recurring 54
saving deposits as recurring 51
saving paychecks as recurring 137
saving purchases as recurring 84
saving sales as recurring 66
using 125
refreshing lists, in a multi-user
environment 211
refunds. See customer credits; vendor
debits
removing
records 114
transactions 122
reorder quantity, setting for items 43
report batches
creating 186
deleting 187
making changes to 187
printing 186
228
I
J
K
L M N O
P
Q
Report Design window 179
reports
custom reports, storing on
network 211
customizing 177
default fonts in MYOB
AccountEdge 185
designing 179
displaying onscreen 182
filtering information appearing
on 177
finding 176
formatting 180
inventory reports 108
multicurrency reports 160
preparing to print 184
printing when others are using company file 210
purchase reports 90
sales reports 71
saving as a comma-separated text
file 183
saving as a PDF file 183
saving as a simple text file 183
saving as a tab-delimited text file 183
saving as an HTML file 183
saving custom reports 181
sending by e-mail 183
sending by fax 183
using custom lists as filters 107
using wildcards to filter 178
viewing in Microsoft Excel 183
viewing sample of 176
restoring a backup 205
returns. See customer credits; vendor
debits
reversing transactions 123
Review Sales Before Printing
window 166
rounding time, in time billing 142
R
S
T
U
V W X
Y
Z
reviewing information about 70
saving as a PDF file 66
saving as recurring 66
setting up linked accounts 29
setting up sales details 28
to overseas customers. See multicurrency
viewing journal entries 72
viewing list of unpaid sales 71
sales commissions, including on
paycheck 136
Sales Easy Setup Assistant 28
sales history, viewing for item, customer or employee 72
sales orders, entering 62
Sales Register
finding transactions using 119
viewing and editing sales in 70
sales reports, viewing 71
Sales window
showing subtotal of line items 66
using headers to group line items 66
Sales-New Time Billing window 151
sample company file, experimenting
with 14
Save Recurring Template
window 124
search fields, using to find
records 112
search icons 19
selling details, setting up default
entries 28
Set Item Prices window 104
Settle Returns & Credits window 77
Settle Returns & Debits window 96
sharing company file on a
network 208
sick pay, including on paycheck 136
S
sale layout
selecting 63
setting default 28
sales
analyzing sales activity 71
changing status of 68
choosing type of 62
deleting 122
e-mailing 65
entering 62
entering historical sales 30
exporting 215
faxing 65
importing 213
income account for tracking sales 42
recording in the Bank Register 55
Sign-On window 209
single-user access, tasks that
require 209
single-user file locking 209
Social Security Number, entering an
employee’s 37
Spend Money window 53
spending money 53
Split button 56
starting MYOB AccountEdge 13
stock quantities, entering 45
stock reorder alert 220
subtotal, showing in transactions 66
84
suppliers. See vendors
MYOB AccountEdge, Version 2.0 us
Index
zoom arrows 19
tabs, using to find records in lists 112
% 9
A
B
C
D
E
F
G
T
tabs, using to find records in lists 112
tax codes
consolidated tax codes 40
creating 39
deleting 114
making changes to 113
setting up default for purchases 31
setting up default for sales 28
tax tables
checking Revision Date 134
loading 34
telephone banking, recording
transfers 60
text fields
adding to forms 170
changing size of on forms 171
description of 167
thirteen accounting periods 17
time billing
activities, creating 145
activities, defined 145
activity slips 146
adjusting accounts to reflect work in
progress 152
creating invoices 150
creating invoices in the Sales
window 152
including items on invoices 143
rounding time 142
setting billing rates 144
setting preferences 142
tracking work in progress 152
using a timer 147
using special billing units 142
timer
resetting 148
using when billing for time 147
To Do List
auto-building items using 102
description 18
making vendor payments from 89
setting up reminders 220
Tool palette 167 170
tracking employees’ time. See time
billing
Transaction Journal window 90 120
User Guide
H
I
J
K
L
M N O
P
Q
Transaction Journal, finding transactions using 120
transactions
adding to MYOB AccountEdge from
bank or credit card
statement 58
creating recurring 124
deleting 122
finding 118
making changes to 121
reversing 123
transactions that cannot be
changed 121
using recurring transactions 125
R
S
T
U
V W X
Y
Z
vendors
creating cards 32
credit terms, changing when recording purchase 81
entering discounts from 82
paying 91
receiving early payment discount
from 92
recording quote received from 80
setting up default credit terms 31
viewing purchase history 90
Verify Company File command 206
View Contact Log window 219
voiding check number 60
Transactions CAN’T be Changed
preference 23 123
Transfer Inventory window 100
W
transferring inventory 100
W-2 forms, printing at year-end 199
Trial Balance report, reviewing at
month-end 190
wage categories
assigning to employees 129
creating 128
deleting 129
making changes to 129
U
unchangeable transactions 123
uncleared transactions, matching 58
undeposited funds
grouping customer payments
with 73
grouping deposits with 50
preparing bank deposit for 52
unpaid invoices, sending reminders
to customers with 219
unrealized currency gains and
losses 159
wages
linked account for 35
paying sick pay wages 136
paying vacation wages 136
Welcome to MYOB AccountEdge
window 13
Widgets & Co., sample company
file 14
wildcards, using to filter reports 178
work in progress
adjusting accounts to reflect 152
tracking 152
Use Recurring button 125
user guide 10
users, viewing list of 210
V
vacation pay, including on
paycheck 136
vendor debits
creating by reversing purchase 94
creating manually 94
deleting 122
settling 95
Y
year
starting a new payroll year 200
starting new fiscal year 198
year-end
fiscal year-end 197
payroll year-end 199
Z
zoom arrows 19
229
Index
230
MYOB AccountEdge, Version 2.0 us
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