MYOB Premier Accounting 2009 User Guide

MYOB Premier Accounting 2009 User Guide
User Guide
MYOB Premier Accounting 2009
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MYOB US, Inc.
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CONTENTS
Contents
1 Introduction .......................................................... 11
Recording miscellaneous transactions..................................... 58
Credit card transactions ......................................................... 59
Credit card payments
using MYOB Merchant Account Service ............................... 60
Reconciling your bank accounts ............................................. 64
Importing statements............................................................. 66
Analyzing your cash flow........................................................ 68
Learn about your MYOB software .......................................... 11
Where to start........................................................................ 13
Explore your MYOB software ................................................. 14
2 Setting up your company file ............................... 21
Overview ............................................................................... 21
Create a company file ............................................................ 22
Activate the company file....................................................... 24
Set up accounts ..................................................................... 26
Enter account opening balances ............................................ 29
Set up preferences ................................................................. 31
Set a password for the Administrator user ID.......................... 32
5 Sales ....................................................................... 69
Creating a customer card....................................................... 69
Entering sales......................................................................... 71
Recording sales
with insufficient on-hand item quantities ............................. 76
Changing the status of a sale ................................................. 78
Reviewing your sales information ........................................... 79
Receiving payments ............................................................... 81
Printing payment receipts ...................................................... 83
Credit control ........................................................................ 84
Customer credits.................................................................... 87
Dealing with a vendor who is also a customer........................ 90
Accounting for bad debts....................................................... 90
3 Advanced setup..................................................... 33
Overview ............................................................................... 33
Set up sales............................................................................ 35
Set up purchases.................................................................... 36
Set up payroll ........................................................................ 37
Do an initial bank reconciliation ............................................. 38
Create item records ............................................................... 41
Enter your inventory opening balances .................................. 42
Set up MYOB Business Services .............................................. 43
Set up MYOB Payroll Tax Forms ............................................. 47
6 Purchases ............................................................... 91
Creating a vendor card .......................................................... 91
Entering purchases................................................................. 93
Receiving items without a bill................................................. 97
Creating a purchase order from a sale.................................. 100
Changing the status of a purchase ....................................... 101
Reviewing your purchases information ................................. 102
Paying bills........................................................................... 103
Preparing electronic payments ............................................. 106
Recording and settling vendor debits ................................... 107
Adding finance charges paid to vendors............................... 109
4 Banking.................................................................. 49
Receiving money ................................................................... 49
Bank deposits......................................................................... 51
Spending money ................................................................... 52
Entering transactions in the Bank Register window................. 54
Transferring money between accounts................................... 56
Tracking petty cash expenses................................................. 57
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7 Paying your employees ....................................... 111
Creating payroll categories .................................................. 111
Creating employee cards ..................................................... 117
Entering employee payroll information ................................ 118
Timesheets........................................................................... 121
Processing your payroll ........................................................ 123
Payroll liabilities ................................................................... 132
Reviewing payroll information.............................................. 133
8 Billing for time .................................................... 137
About the time billing feature .............................................. 137
Setting time billing preferences............................................ 138
Setting billing rates .............................................................. 139
Creating activities ................................................................ 140
Creating activity slips ........................................................... 142
Reviewing and changing activity slips .................................. 145
Creating time billing invoices............................................... 145
Work in progress.................................................................. 148
9 Inventory ............................................................. 149
Creating items ..................................................................... 149
Making inventory adjustments ............................................. 152
Inventory locations .............................................................. 154
Building items...................................................................... 156
Counting inventory.............................................................. 158
Reviewing your inventory information.................................. 159
Setting item prices ............................................................... 161
Customizing inventory ......................................................... 162
10 International transactions................................... 167
About the multiple-currency feature .................................... 167
Setting up multiple currencies ............................................. 168
Exchange rates .................................................................... 171
Tracking currency gains and losses....................................... 172
Miscellaneous transactions ................................................... 173
11 Lists...................................................................... 175
Adding a record................................................................... 175
Setting up tax codes ............................................................ 176
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Finding a record................................................................... 178
Changing a record ............................................................... 179
Inactivating or reactivating a record ..................................... 179
Deleting a record ................................................................. 180
Combining records .............................................................. 181
12 Transactions......................................................... 183
Finding a transaction ........................................................... 183
Changing or deleting a transaction ...................................... 186
Reversing a transaction ........................................................ 188
Recurring transactions.......................................................... 189
13 Reports................................................................. 195
Producing reports ................................................................ 195
Printing report batches ........................................................ 197
Customizing reports............................................................. 199
14 Forms ................................................................... 205
Finding forms....................................................................... 205
Sending forms ..................................................................... 206
Customizing forms............................................................... 210
Adding and editing elements ............................................... 213
15 Contact management.......................................... 217
Creating a card .................................................................... 217
Keeping in touch with your contacts.................................... 218
Grouping your contacts ....................................................... 223
Synchronizing MYOB cards
with Microsoft Outlook contacts........................................ 225
Customizing cards ............................................................... 230
Reviewing your contact information..................................... 232
16 Financial control .................................................. 235
Tracking financial information.............................................. 235
Tracking reimbursable expenses........................................... 239
Budgets ............................................................................... 241
Auditing your records .......................................................... 243
Reviewing financial information ........................................... 245
17 End-of-period procedures ................................... 247
Month-end procedures ........................................................ 247
Starting a new fiscal year ..................................................... 255
Starting a new payroll year .................................................. 257
18 Managing user accounts and company files ...... 261
Managing user accounts ...................................................... 261
Backing up and restoring company files ............................... 263
Confirming activated company files ..................................... 265
Servicing your company file ................................................. 267
Special considerations for networked company files ............. 269
A Importing and exporting data ........................... 273
Exporting data ..................................................................... 273
Exporting to and importing from CaseWare......................... 274
Importing data .................................................................... 275
B Networking company files .................................. 279
Preparing company files for multiple users ........................... 279
Setting up the network hardware......................................... 280
Setting up a company-file folder on a Windows host ........... 280
Accessing the shared company file from a workstation......... 284
Glossary .................................................................... 287
Index......................................................................... 299
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Introduction
Before you begin, take some time to explore your MYOB software and find out about the basic features of navigation and transaction entry. This
chapter provides an overview of your software and describes the tools, resources and primary features of your MYOB software.
Learn about your MYOB software
The User Guide is not intended to be exhaustive. It is
complemented by the online help (see ‘Online help’ on
page 12), which covers all the functions of your MYOB software.
MYOB is committed to developing accounting software that is
easy to use. To that end, your MYOB software is accompanied by
comprehensive information resources to help you learn about
your software and to provide support as you set up your records
and enter transactions.
How to Upgrade guide The How to Upgrade guide provides
you with step-by-step instructions on how to upgrade your
MYOB software.
Manuals
Users of MYOB software receive the following reference
materials:
Accounting 101 The Accounting 101 guide introduces you to
basic accounting terms and concepts. This guide is ideal for
people who are new to accounting or for people who want to
review basic accounting principles.
Getting Started guide The Getting Started guide provides
information on how to install your MYOB software, and how to
create and activate your company file.
To view the manuals
You need a PDF viewer to view the manuals. You can access the
manuals online or from your installation CD. If you don’t have a
PDF viewer on your computer, you can install Adobe Reader from
the installation CD.
User Guide This User Guide introduces the principal features,
functions, and capabilities of your MYOB software. It is designed
to be used as a reference for everyday transaction entry and
periodic tasks, such as issuing invoices, making payments, and
end-of-period processing.
11
INTRODUCTION
1
View the PDF files online
1
Go to the Help menu and choose Manuals.
2
Select the manual you want to view from the submenu.
View the PDF files from the Installation CD
1
Insert the installation CD.
2
Open the CD in Windows Explorer—usually the D:\
drive—and double click the autorun.exe icon. An installation
window appears.
3
Click Resources and then click CD Library.
4
Click the name of the manual you want to view.
These options are described below.
Select...
If you want to....
Help for This
Window
•
•
•
Tell Me How
display a list of topics that tell you how to perform
various tasks in the window, or other related
tasks.
Tips &
Troubleshooting
display links to topics that give you tips on solving
common problems or that direct you to other
help sources.
Search the Help
learn how to search the help for key words and
phrases.
Online help
Online help is a comprehensive online resource that
complements the User Guide by covering all functions and
features of your MYOB software, including those used
infrequently. It also includes helpful information for solving
common bookkeeping problems.
To display online help
„
In any window, press the F1 key.
„
In any window—other than command center windows—click
Help ( ) and choose Help for This Window.
„
Choose MYOB Premier Help from the Help menu.
see a description of the window, which
includes links to more detailed descriptive and
procedural topics.
see a description of each field in the window.
display links to topics that give you tips to
solving common problems or that direct you
to other sources of help.
Help in the command center
The main windows in your MYOB software are known as
command centers. A help icon appears in the top right corner of
each command center window.
Help in MYOB windows
Opening online help from any window—other than command
center windows—displays descriptions or procedures relevant to
that window.
Click Help ( ) and choose Help for This Window, Tell Me How,
Tips & Troubleshooting, or Search the Help.
12
When you click the help icon, the online help displays a
description of the command center and its various functions.
For more information, see ‘Command centers’ on page 14.
CHAPTER 1
INTRODUCTION
Other resources
„
access software support resources including MYOB
Frequently Asked Questions and MYOB Discussion Board
In addition to online help, you can also access web-based
resources from the Help menu. These resources enable you to:
„
access information about MYOB Business Services and
MYOB Solutions Directory
„
send us your feedback.
„
check for product updates
„
review user manuals and other guides
Note that you need to subscribe to MYOB Product Support to use
some of these resources. For more information about MYOB
Product Support, visit myob-us.com/support/plans.
Where to start
When you start your MYOB software, a welcome window
displays the following options:
Option
Select this option to...
Open your company file
Open a company file once it has been
created.
Create new company file
Create a company file for your business.
See ‘Create a company file’ on page 22.
Explore the sample
company
Experiment with a sample company’s
data and learn how to use your
software.
What’s New in this version
Learn about the new features in this
version of your software.
Exit
Close your MYOB software.
Experiment with a sample company’s
data
Before you create a new company file, we recommend that you
experiment with a sample company’s data. We have provided a
sample company file, called Widgets & Co. This file contains
sample data for you to experiment with. You can add, change,
and remove data, as well as view and print reports.
To explore the Widgets company file
™ Start your MYOB software and, in the welcome window that
appears, click Explore the sample company. A command
center window appears.
A command center window always appears when a company file
is open. Notice that the name of the sample company, Widgets &
Co., appears at the top of the window.
Now that the Widgets & Co. company file is open, you can
browse through the software, explore the transactions that have
already been entered, and enter some transactions yourself.
WHERE TO START
13
Explore your MYOB software
You should become familiar with the following tools and aids:
Tool
See
Command centers
below
Calendar (date entry)
page 15
Business calendar
page 15
Calculator
page 16
Zoom arrows
page 16
Search icons
page 16
Select columns
page 16
Mouse shortcuts
page 17
Shortcut keys
page 17
Default screen font
page 18
Spell-check
page 18
Command centers
There are eight command centers in your MYOB software. The
following is an illustration of the Sales command center.
Each command center contains a row of icons in the top section
of the window. These icons allow you to switch between
command centers.
The selected icon represents the current command center, and
the flowchart displayed below the icons illustrates the major tasks
associated with that command center. (For example, when the
Sales icon is selected, tasks such as Enter Sales and Print/Email
Statements—typical tasks you would complete in relation to
sales—appear in the command center’s flowchart.)
14
CHAPTER 1
INTRODUCTION
There are four menus at the bottom of each command center.
The options available from these menus are described below.
Select...
If you want to...
To Do List
record and manage tasks that need your
attention, such as paying invoices to take
advantage of early-payment discounts, or
restocking items when inventory is low.
Find Transactions
view summary information about your accounts,
sales, purchases, cards, items, payroll, and jobs.
Reports
view a list of the available reports.
Analysis
analyze a number of key aspects of your business.
There are two ways of selecting an option:
„
Click the menu name to display the window relevant to the
command center you are in.
„
Click the arrow ( ) next to the menu name and select from a
list of the available options for all command centers (not just
the command center you are currently in).
Calendar (date entry)
The calendar simplifies date entry. For example, suppose you’re
entering a sale and have promised the goods to the customer on
the last Friday of the month. Rather than figure out the date and
enter it manually, display the calendar in the Promised Date field
and click the date.
To display the calendar, put the cursor in a date field and press
either = (equals) or the SPACEBAR on your keyboard. Select a date
by clicking it, or by using the arrow keys on your keyboard and
then pressing ENTER. The selected date appears in the date field.
The current date appears in red. You can click the arrow
symbols next to the month to display a different month.
To close the calendar without selecting a date, press ESC.
Business calendar
You can use the business calendar to specify which days of the
week your business is open, vacations and important business
events.
As well as being a handy reference, the business calendar affects
the Contact Alert function in the To Do list. If you set a reminder
to call a customer on a day that you have indicated in the
business calendar as being closed, the reminder will appear in the
To Do List window on the business day before the task is due.
For example, if a reminder is scheduled for Saturday but your
business is closed on Saturdays, the reminder will appear in the
To Do List window on Friday.
To set up your business calendar
1
Go to the Setup menu and choose Business Calendar. The
Business Calendar window appears.
The current month is displayed in the calendar at the top of
the window. Days that appear in gray are days when your
business is closed.
EXPLORE YOUR MYOB SOFTWARE
15
2
If you want to mark a specific day as closed, click the date in
the calendar.
Zoom arrows
If your business is always open or closed on a specific day of
the week, click that day in the Shortcut for setting average
business week section. A message will confirm that you are
changing the day’s status.
Zoom arrows, displayed next to various fields, allow you to
display more detailed information about a specific entry such as a
transaction or customer record.
3
Add any important events that occur during the month in the
Important Dates section.
4
If you want to change other months in the business calendar,
click the arrows at the top of the calendar.
5
Click OK to close the business calendar.
Calculator
A calculator is available to simplify calculating and entering
numeric data, including money amounts, item quantities and
units. The calculator is available from every window where you
can enter numeric data.
Pressing = (equals) or the SPACEBAR when the cursor is in a
numeric data field displays the calculator. In the calculator, enter
your calculation and then press ENTER. The result appears in the
numeric data field.
A white zoom arrow ( ) indicates that you can display more
detailed information about a transaction and make changes to or
delete the transaction.
A gray zoom arrow ( ) allows you to display more detailed
information about a transaction, but the information is read-only
(that is, it cannot be changed). If you want to change the
information, you can reverse the transaction and re-enter it (see
‘Reversing a transaction’ on page 188). Alternatively, you can
change your security preference selection to make all
transactions changeable (see ‘Set up preferences’ on page 31).
Search icons
Search icons ( ), displayed next to various fields, allow you to
open selection lists containing records that you have previously
entered, such as customers, shipping methods, or records
provided by default.
Select columns
To close the calculator without entering numeric data, press ESC.
16
Select columns allow you to select items from a list. Select
columns are indicated by a select icon ( ) located at the top of
the list column. You select a desired item by clicking in the select
column next to it. You can select all listed items by clicking the
select icon at the top of the list column, and deselect all items by
clicking the select icon again.
CHAPTER 1
INTRODUCTION
Mouse shortcuts
Menu
Command
Shortcut keys
You can right-click in a window to open a shortcut menu with
options relevant to the window and to the location of the pointer.
Command Centers
(All)
To Do List
CTRL+T
Command Centers
> Accounts
Command Centers
> Banking
Shortcut keys
You can use shortcut keys to speed up data entry. All the shortcut
keys correspond to menu commands. Listed below are the
shortcuts relating to the menu commands.
Menu
Command
Shortcut keys
File
New (Company File)
CTRL+N
Open
CTRL+O
Edit
Command Centers
> Sales
Find Transactions
CTRL+Y
Command Center
CTRL+1
Record Journal Entry
CTRL+G
Bank Register
CTRL+K
Command Center
CTRL+2
Spend Money
CTRL+H
Receive Money
CTRL+D
Command Center
CTRL+3
Enter Invoices
CTRL+J
Receive Payments
CTRL+B
Command Centers
> Time Billing
Command Center
CTRL+4
Command Centers
> Purchases
Command Center
CTRL+5
Enter Purchases
CTRL+E
Pay Bills
CTRL+ M
Close Window
Esc
Print
CTRL+P
Undo
CTRL+Z or
ALT+BACKSPACE
Cut
CTRL+X or
SHIFT+DELETE
Copy
CTRL+C or
CTRL+INSERT
Command Centers
> Payroll
Command Center
CTRL+6
Paste:
CTRL+V or
SHIFT+INSERT
Command Centers
> Inventory
Command Center
CTRL+7
Select All:
CTRL+A
Command Centers
> Card File
Command Center
CTRL+8
Select from List
CTRL+L
Cards List
CTRL+F
Recap Transaction
CTRL+R
Reports
Index to Reports
CTRL+I
Window
Refresh All
F5
EXPLORE YOUR MYOB SOFTWARE
17
Menu
Command
Shortcut keys
Help
MYOB Help
F1
We also support the following shortcut key combinations:
Close Window
CTRL+F4
Next Window
CTRL+F6 or CTRL+TAB
Cycle Task
ALT+TAB or ALT+ESC
Default screen font
If you want, you can change the fonts used in your MYOB
software’s interface.
If you change the default font Ensure that the new
font size is appropriate to your monitor’s resolution. Some typefaces
and sizes may cause windows to be displayed incorrectly.
If you work in a multiuser environment and change the font, the
changes affect only your computer, not other users on your
network.
CAUTION :
Spell-check
You can check you spelling when entering a sale, purchase, or
item information. You can check spelling in the following fields:
Window
Field
Sales
•
•
Description (for Service, Professional, Item,
and Miscellaneous layouts)
Notes (for Time Billing layout).
Purchase
•
Description (all layouts).
Item Information
•
•
Name (Item Profile tab)
Description (Item Details tab).
If a misspelt word is found when checking, the Spelling window
appears.
To change the default screen font
1
Go to the File menu and choose Default Fonts. The Default
Font Selection window appears.
2
Click Fonts. The Change Default Windows Font window
appears.
3
Select the default typeface you want to use from the Font list.
4
Select the default font size you want to use from the Size list.
5
Click OK. The Default Font Selection window appears.
6
Click OK.
Any changes you make will take effect after closing and restarting
your MYOB software.
18
The Spelling window displays the misspelt word and suggests a
replacement. You can choose to change the misspelt word to the
suggested replacement, add it to your dictionary, or set the spell
check feature to ignore it.
You can set a preference to automatically check spelling or you
can manually check spelling by clicking Spell in the transaction
winow or Item Information window.
You can customize your spelling preferences. For example, you
can change the main dictionary language and choose a
preference to ignore words that include numbers.
CHAPTER 1
INTRODUCTION
To set spelling preferences
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
Click the Windows tab.
3
If you want to automatically check spelling, select the
Automatically Check Spelling in Text Fields Before
Recording Transactions option.
4
If you want to customize your spelling preferences, click the
Spelling button. The Spell Check Preferences window
opens.
5
Select your preferences and click OK.
For more information about the spelling feature, see MYOB
online help.
EXPLORE YOUR MYOB SOFTWARE
19
20
CHAPTER 1
INTRODUCTION
Setting up your company file
Your MYOB software stores your financial data in a company file. If you don’t already have a company file, you must create it before you can begin
recording transactions.
Overview
When you create a company file, you record basic information
about your business, such as the business name and your contact
details. You must also specify the month and fiscal year in which
you want to start recording transactions.
Task
Depending on the features you want to use, there are some tasks
that you should complete. This chapter guides you through the
essential ones.
Essential tasks The tasks you need to do depend on whether
your accountant has created and set up a company file for you,
the information you currently have and when your business
started.
Advanced tasks Once you have completed the essential tasks,
you can start recording transactions. However, if you need to use
the advanced features of this software, (such as the sales or
inventory features) you will need to do further setup tasks. These
tasks are covered in Chapter 3, ’Advanced setup,’ starting on
page 33.
21
See
1
Create a company file
page 22
2
Activate the company file
page 24
3
Set up accounts
page 26
4
Enter account opening balances
page 29
5
Set up preferences
page 31
6
Set a password for the Administrator user ID
page 32
SETTING UP YOUR COMPANY FILE
2
Create a company file
When you make entries in your software, that information is
stored in a file called a company file.
You can create a company file using the New Company File
Assistant. This assistant is a series of interactive windows that
guide you through the process of creating a new company file.
You need to know…
Description
The default list of
accounts that you
want to start with
Accounts are the categories that you will allocate
each of your transactions to. When you create a
company file, you need to select a default list of
accounts. You can:
• start with an accounts list provided by
MYOB. You can select a predefined accounts
list suitable for your business.
• import a list of accounts. You can import an
accounts list from another company file or
from one that has been provided by your
accountant or MYOB partner.
• build your own list. You can start with an
accounts list that has the minimum required
accounts and then add to it.
Note that you can modify your accounts list after
creating your company file.
Do you already have a company file? If your accountant
or MYOB consultant has provided you with a company file, or if you
want to use a file that you created with a test drive version of this
software, you don’t need to create a company file.
NOTE :
Before you start:
You need to know…
Description
Your current fiscal
year
This is the fiscal year for which you want to start
recording transactions in your company file.
Note that a fiscal year is represented by the
calendar year in which the fiscal year ends. For
example, if your fiscal year ends in December
2009, your fiscal year is 2009.
The last month of
your fiscal year
This is the month in which your fiscal year ends.
For most businesses the last month is December.
Your conversion
month
This is the earliest month for which you want to
record transactions. For example, if you want to
enter transactions dated 1 September or later,
your conversion month is September.
You cannot enter transactions dated before the
conversion month.
The number of
accounting periods
in your fiscal year
22
You can choose to have 12 or 13 accounting
periods. A 13th period is a period for recording
entries which you do not want included in the
accounting figures for a particular month. For
example, you can use it to record year-end
adjustments that are attributed to all months. If in
doubt, choose 13 periods.
To create a new company file
1
Start your MYOB software. A welcome window appears.
2
Click Create new company file. The introduction page of
New Company File Assistant appears.
3
Click Next. The Company Information page appears.
4
Enter your business contact and registration details. If
available, also enter your MYOB software serial number.
5
Click Next. The Accounting Information page appears.
6
Enter your fiscal year details and conversion month.
Current fiscal year Remember that this is the fiscal year
for which you want to start recording transactions in your
company file. It does not need to be the fiscal year that your
business is currently operating in.
TIP :
CHAPTER 2
SETTING UP YOUR COMPANY FILE
11
7
Click Next. A confirmation page appears.
8
Check the fiscal year and conversion month and then click
Next. The Accounts List page appears.
9
Select the type of industry and business that best matches
your own business.
A suitable accounts list for the business type you selected
appears. If you want to print the list, click Print. Later you can
tailor the list to meet the needs of your business.
Select the default accounts list you want to start with.
12
Click Next. The Company File page appears.
13
If you want to change you company file name and location:
a Click Change. The New window appears.
b Select the required location.
c If necessary, type a new file name.
d Click Save. The Conclusion page appears.
e Continue with step 15 below.
Restricted access to the Program Files folder in
Windows Vista User Account Control (UAC) is a security
feature in Windows Vista. If UAC is active, files saved in the
Program Files folder can only be opened by the Windows user
who saved the files. If other users need to access your company
file, do not save it in this folder. For more information about
User Account Control, see Windows help.
NOTE :
10
If you choose to...
Continue with...
start with an accounts list provided by MYOB
step 10
import a list of accounts
step 12
build your own list
step 12
Click Next. An accounts list selection page appears.
CREATE A COMPANY FILE
14
Click Next. Your company file is created and the Conclusion
page appears.
15
Click Command Center to display the Command Center
window.
23
Activate the company file
Activation is a process that verifies you have a legal installation of
your MYOB software. You can activate your company file online
or over the phone via an automated service.
Do you need to complete this task? You don’t need to
activate a company file that you have created for testing purposes or
any file you are no longer entering transactions into.
NOTE :
After creating a company file, you can use it for 30 days in trial
mode, after which you must activate the file if you want to
continue entering transactions into it.
If you don’t activate the file within 30 days, it will become
read-only, which means you can open, view, print, and export
information, but you will not be able to enter new information
into the file until you activate it.
After activating a file, you must confirm the company file once or
twice a year, that is, extend its activation throughout its working
life. For more information, see ‘Confirming activated company
files’ on page 265.
Automatic confirmation If you want, you can set a
preference to automatically confirm an activated company file over
the Internet when required.
NOTE :
24
Activation limits You can initially activate up to ten company
files. If you need to create more than ten company files (for
example, yours is a bookkeeping business looking after many
clients), you can obtain license extensions to activate as many
additional company files as required. Contact MYOB Customer
Service if you need a license extension. Each additional license
extension allows you to activate a further ten files.
Activating after purchasing additional workstation licenses
When you purchase your MYOB software, the license allows one
user to access a company file during the trial period. If you
extend your license to support additional simultaneous users,
you must activate your company file for these additional licences.
See also ‘Managing user accounts and company files’ on
page 261.
Before you begin
Before you can activate a company file, you need to:
„
know your MYOB product serial number. If you didn’t enter
your serial number when creating the company file, you will
need to enter it during the activation process. You can find
your serial number on the software CD sleeve.
„
register your software. Registration enables MYOB to
contact you should there be any issues with your software.
See the Getting Started guide for information on how to
register your software.
CHAPTER 2
SETTING UP YOUR COMPANY FILE
To activate a company file
1
2
Open the company file to be activated and sign on.
Activate your company file:
Method
Steps
Online
1
Ensure you are connected to the Internet.
2
Click I want to activate my company file online
and then click Continue. The Company File
Activation – Online window appears.
3
If you have not previously entered your MYOB
serial number, type it in the Serial Number field
and press TAB. The code in the Company File
Code field is generated automatically.
4
Click Continue to activate the file.
1
Click I want to activate my company file by
phone and then click Continue. The Company
File Activation – By Phone window appears.
2
If you have not previously entered your MYOB
serial number, type it in the Serial Number field
and press TAB. The code in the Company File
Code field is generated automatically.
3
Call MYOB on the telephone number displayed
under the Company File Code field and follow the
instructions to receive your confirmation code.
4
Type the confirmation code in the Confirmation
Code field and click Continue.
Phone
The Company File Activation window appears.
Note that you cannot use this code to activate
another company file nor can you use this code to
confirm an activated company file.
ACTIVATE THE COMPANY FILE
3
Follow the on-screen instructions until the Command Center
window appears.
4
If you want to activate another company file:
a Go to the File menu and choose Open. The Open window
appears.
b Open the company file to be activated and sign on to the
file.
c Continue from step 2 above.
25
Set up accounts
Accounts provide a means for grouping similar transactions. For
example, if your business pays rent for the use of its premises, you
would create a rent account and then allocate all rent payments
to that account.
The accounts you use for your business are grouped in an
accounts list.
Account classifications and types are described in the following
table.
Classification
Type
Description
Asset
(1-xxxx)
Bank
Money in the bank, for example,
in a checking or savings account.
Accounts
Receivable
Money owed to you by your
customers.
Other Current
Asset
Assets that, if required, can be
turned into cash within a year.
These may include your term
deposits.
Fixed Asset
Assets which have a long life, for
example, buildings, cars, and
computers. Fixed assets are
usually depreciated.
Other Asset
Other assets you own such as
loans made to others and
goodwill.
Credit Card
Repayments required to service
credit card debt.
Accounts
Payable
Money owed by you to your
vendors.
Other Current
Liability
Money owed by you that is due in
less than a year, for example, STE.
Long Term
Liability
Money owed by you that is due in
more than one year, for example,
a business loan.
Other Liability
Other money you owe.
Do you need to complete this task? If your accountant or
MYOB partner has provided you with a company file, this task may
have been completed for you. In this case, go to ‘Enter account
opening balances’, on page 29.
NOTE :
When you created your company file, you selected a default
accounts list to start with. This list may already have the accounts
you need. If not, you can change the list to suit your needs. If you
are unsure, ask your accountant which accounts you should
create, edit, or delete.
If you selected to import a list of accounts, you should import this
list now. See ‘Importing data’ on page 275.
Account numbers Each account is identified by a unique five
digit number. The first digit indicates the account’s classification
(for example, accounts starting with 1 are asset accounts). The
remaining four digits determine its location within the
classification. The lower the number, the higher up in the list it
appears. For example, account 1-1100 appears above 1-1200.
Account classifications and types The accounts list groups
accounts into eight classifications—Assets, Liabilities, Equity,
Income, Cost of Sales, Expenses, Other Income, and Other
Expenses. Within each account classification there is at least one
account type.
26
Liability
(2-xxxx)
CHAPTER 2
SETTING UP YOUR COMPANY FILE
Classification
Type
Description
Equity
(3-xxxx)
Equity
The business’s net worth, that is,
its assets minus its liabilities.
Common equity accounts are
current year earnings, retained
earnings, and shareholders’
equity.
Income
(4-xxxx)
Income
Revenue from the sale of goods
and services.
Cost of Sales
(5-xxxx)
Cost of Sales
The direct cost of selling your
goods and providing services, for
example, purchase costs and
freight charges.
Expense
(6-xxxx)
Expense
The day-to-day expenses of
running your business, for
example, utility bills, employee
wages, and cleaning.
Other Income
(8-xxxx)
Other Income
Other revenues, for example,
interest earned on savings and
dividends paid from stocks.
Other Expense
(9-xxxx)
Other
Expense
Other expenses, for example,
interest charged.
You group accounts by indenting the detail accounts located
directly below a header account.
Header accounts
Detail accounts
Note that:
„
You cannot allocate transactions to a header account.
„
The balance of a header account is the sum of the detail
accounts indented directly below it.
„
You can create up to three header account levels as shown in
the example above.
Setting up accounts
If you want to...
See
Create an account
page 28
Header accounts Your accounts list consists of detail accounts
(the accounts to which you allocate transactions) and header
accounts. Header accounts group related detail accounts to help
you organize your accounts list.
Delete an account
page 180
Change the details of an account
page 179
Group detail accounts with a header account
page 29
For example, you could group your telephone, electricity, and
gas expense accounts using a Utilities header account. This
makes it easier for you to locate the utility expense accounts in
the accounts list and to see your combined utility expenses.
Import an accounts list
page 275
SET UP ACCOUNTS
27
To create an account
1
Go to the Accounts command center and click Accounts
List. The Accounts List window appears.
2
Click New. The Edit Accounts window appears.
3
4
If you want to create a header account, select the Header
Account option.
7
Click the Details tab.
8
If you want, type a brief description of the account in the
Description field.
9
In the Tax Code field, select the tax code that you use most
often with transactions that will be posted to this account.
10
If you are creating an asset, liability, or equity account (other
than an asset that has the account type of Bank), select an
option from the Classification for Statement of Cash Flows
list.
Select the account type from the Account Type list. The
Account Classification field changes according to the
selection you make. For more information on account
classifications, see ‘Account classifications and types’ on
page 26.
5
Enter a four-digit number for the account in the Account
Number field. The number must be unique within each
account classification.
6
Press TAB and type a name for the account.
Classifying the accounts allows you to generate a statement
of cash flows. This report shows how your cash position has
changed over time, profit earned, and where your cash was
spent. If you’re unsure about which classification to use,
consult your accountant or an MYOB Certified Consultant.
11
If you are creating a bank or credit card account, and you
want to keep a record of your bank account details, click the
Banking tab and enter your account details.
Routing for electronic payments The ABA routing
number and account details are required so that MYOB Direct
Deposit and MYOB Vendor Payments can include information
about the account when making electronic payments.
NOTE :
28
CHAPTER 2
SETTING UP YOUR COMPANY FILE
12
13
[Detail accounts only] If you want to enter historical balances,
complete the Last FY column on the History tab. That way
you can compare the year’s monthly account balances with
those of the corresponding months last year.
To group detail accounts with a header account
[Detail accounts only] If you want to set up a budget:
a Click Budgets. The Prepare Budgets window appears.
b Type the budget amounts in the monthly columns.
c Click Close.
1
Go to the Accounts command center and click Accounts List.
The Accounts List window appears.
2
Select the detail account you want to group.
3
Click Down to group the account with the header located
above it.
You group accounts by indenting the accounts located below a
header account.
For more information, see ‘Budgets’ on page 241.
14
Click OK when you have finished. The account you created
now appears in your accounts list.
Enter account opening balances
Account opening balances are the balances of your accounts as
of the first day of your conversion month.
Do you need to complete this task? If you were in
business prior to your conversion month, most of your accounts
probably already have balances. If you want to produce financial
reports that included these balances (such as a balance sheet), or
you want to track the balance of accounts with a cumulative balance
(such as your bank account), you need to enter these balances.
NOTE :
You can find your account opening balances on a trial balance
report, a balance sheet, or a profit & loss report prepared for the
period immediately prior to your conversion date. You can ask
your accountant to prepare these reports.
ENTER ACCOUNT OPENING BALANCES
You may also be able to find your account opening balances
using your previous software or paper-based records.
The balances you enter depend on whether your conversion
month is also the first month of your fiscal year. If your conversion
month:
„
is the first month of your fiscal year, enter the opening
balances of your asset, liability, and equity accounts only. The
opening balances of your income, cost of sales, and expense
accounts should be zero.
„
is not the first month of your fiscal year (for example, if
your fiscal year starts in January but your conversion month is
July), enter the opening balances of all your accounts.
29
Opening bank account balances You can enter either of the
following amounts as the opening balance of a bank account:
„
Enter opening balances as positive numbers Don’t,
for example, enter your liability account balances as negative
numbers. Enter negative amounts only if accounts truly have
negative balances. As a rule, these will be asset accounts that
record accumulated depreciation.
NOTE :
the bank account balance that appears on your balance sheet
or trial balance reports as of the day prior to your conversion
date. For example, if your conversion date is 1 January 2009,
this is the bank account balance as of 31 December 2008.
These reports can be provided by your accountant, or, if you
were previously using another accounting software, printed
using that software.
„
the cashbook balance of the account as of the end of the day
prior to your conversion date. You can calculate your
cashbook balance by taking into account the transactions not
yet cleared by your bank as of the conversion date and the
balance that appears on your bank statement at that date.
For example, assume that $500 worth of deposits and $1000
worth of payments were unpresented as of your conversion
date (that is, they had not appeared on a bank statement).
The cashbook balance would be calculated as shown below:
Bank statement balance as of the conversion date
$21,000.00
ADD uncleared deposits
+ $500.00
SUBTRACT uncleared payments
– $1,000.00
Cashbook balance as of the conversion date
$20,500.00
3
If this field displays an amount other than $0.00, check your
opening balances again because they are either incomplete
or incorrect. However, you can continue the setup process if
there is an amount in the Amount left to be allocated field.
The amount will be assigned to a special equity account
called Historical Balancing.
To enter opening balances
30
1
Go to the Setup menu, choose Balances and then Account
Opening Balances. The Account Opening Balances
window appears.
2
Enter the balances in the Opening Balance column.
Check that the amount in the Amount left to be allocated
field at the bottom of the window shows $0.00.
4
Click OK.
CHAPTER 2
SETTING UP YOUR COMPANY FILE
Set up preferences
Preferences are settings that enable you to tailor your software to
your business requirements and processes.
Some preferences you should consider choosing include:
„
Use Audit Trail Tracking If you want to keep a record of
transactional, tax, account, and system changes, select this
option. This is useful if more than one person will be entering
transactions into your file. For more information about audit
trail tracking, see ‘Auditing your records’ on page 243.
„
Transactions CAN’T be Changed; They Must be
Reversed If you don’t want to allow users to edit or delete
transactions, select this option. If they want to change or
delete a transaction, they will need to do so by recording a
reversal transaction. For more information, see ‘Reversing a
transaction’ on page 188.
„
I Deal in Multiple Currencies If you want to enable
multi-currency accounting, select this option. For more
information about working with multiple currencies, see
‘International transactions’ on page 167.
Do you need to complete this task? While you can
complete this step later, you should review the default preferences
that have been set before you start entering transactions.
NOTE :
You can set preferences to customize the way your software
operates. For example, you can choose to automatically print
invoices after recording them, or prevent users from editing
transactions.
You can set up your preferences using the:
„
Customize Easy Setup Assistant. This assistant guides you
through setting up some key preferences. To access the
assistant, go to the Setup menu, choose Easy Setup
Assistant and then click Customize.
„
Preferences window. This window lists all of the preferences.
To view this window, go to the Setup menu and choose
Preferences.
SET UP PREFERENCES
31
Set a password for the Administrator user ID
When you created your company file, a user ID called
Administrator was automatically created.
4
In the Change Password window, leave the Existing
Password field blank, type the password in both the New
Password and Confirm Password fields.
5
Click Record.
A user ID is the means for:
„
controlling access to a company file
„
tracking a transaction record history
„
saving individual preferences.
By default, the Administrator user ID does not have a password
assigned to it. Anyone who signs on with the Administrator user
ID will have complete access to all command centers, functions,
and windows and will be able to create, edit, and delete other
user IDs.
For that reason, as soon as you create a company file, you should
assign a password to the Administrator user ID; otherwise,
anyone can sign on and then enter, edit, and delete transactions.
To set a password for the Administrator user ID
32
1
Start your MYOB software and click Open your company file
in the welcome window that appears.
2
In the Open window, select the company file to be opened,
and click Open. The Sign-on window appears.
3
Click Change Password.
NOTE : Access restrictions If you want to restrict other users from
accessing certain features or information, you can create additional
user IDs and specify their access restrictions. For more information,
see ‘Managing user accounts’ on page 261.
CHAPTER 2
SETTING UP YOUR COMPANY FILE
Advanced setup
When you have created a company file and completed the essential setup tasks (see Chapter 2, ’Setting up your company file,’ starting on
page 21), you can start recording transactions in your company file. However, if you want to use the advanced features of your software (such as
tracking amounts you owe or the quantity of items sold), you need to complete additional setup tasks. This chapter details the additional tasks.
Overview
The setup tasks you need to complete depend on the features
you want to use and whether your business was operating prior
to your conversion month.
Your needs
Setup required
Intermediate
If you want to track the money that you owe vendors
or that are owed by customers, you will need to use
the Purchases and Sales command centers.
Before you can use these command centers, you
need to complete the sales and purchases setup
tasks in this chapter.
Advanced
If you want to track the on-hand quantity and value
of items you buy and sell, you need to create records
to store the details of your items. You do this using
the Inventory command center.
Also, when you buy and sell an item, you will need to
record details about each transaction (such as who
you purchased the items from, how many you
purchased, and the price). You do this using the
Sales and Purchases command centers. Hence, you
need to complete the sales and purchases setup
tasks in this chapter.
What features do you want to use?
The following table provides some examples of different setup
requirements.
Your needs
Setup required
Basic
If you only want to use your software to fulfill basic
accounting requirements (such as report tax payable
or produce a year-end balance sheet), you may only
need to do an initial bank reconciliation for each of
your bank accounts. Reconciling accounts helps
ensure the integrity of the information you record in
your company file (see ‘Do an initial bank
reconciliation’ on page 38).
33
ADVANCED SETUP
3
When did your business start operating?
The setup tasks you need to complete will also depend on
whether your business was operating prior to your conversion
month.
The following table describes the setup required for new and
existing businesses.
Business
status
New
Existing
34
Setup required
If you have just started your business, you may have very
little information about your future customers, vendors,
employees, and items that you buy or sell. You can add
these details later when you have more information.
However, if you intend using the advanced features of
your software (such as recording invoices or tracking
departmental profit), you should read through the setup
tasks to see which features you might use and the tasks
you need to complete to start using them.
Advanced tasks
You may not need to do every task. An introduction to each task
helps you determine whether you need to do the task and, if so,
the information you need.
Task
See
1
Set up sales
page 35
2
Set up purchases
page 36
3
Set up payroll
page 37
4
Do an initial bank reconciliation
page 38
5
Create item records
page 41
6
Enter your inventory opening balances
page 42
7
Set up MYOB Business Services
page 43
8
Set up MYOB Payroll Tax Forms
page 47
If your business was operating prior to your conversion
month, it is likely that transactions that occurred prior to
your conversion month still affect your business.
For example, a customer may owe you money for sales
you made prior to your conversion month, or you may
have outstanding bills to pay. You will need to enter these
historical details in your company file.
CHAPTER 3
ADVANCED SETUP
Set up sales
You can use the sales features to:
„
prepare sales quotes, orders, and invoices
„
generate statements
„
view customer sales history
„
see how much your customers owe you.
Do you need to do this task? If you want to record sales
and print invoices or statements, you need to set up the sales
features.
NOTE :
Before you start using the sales features, you should enter the
following information:
Optional sales setup tasks
In addition to the Sales Easy Setup Assistant tasks, you may also
want to do the following tasks if they are relevant to your
business.
Task
See
Customize forms
Change the appearance of the
default invoice and statement
forms.
page 210
Import cards
Import customer information from:
• another MYOB company file
• another accounting system
• a spreadsheet
• a text file.
page 275
„
Credit terms and credit limits Enter the credit terms and
credit limits you generally extend to your customers.
„
Customer details Create a record for each of your
customers and enter such details as their addresses and
phone numbers.
Synchronize
customer records
with Outlook
Synchronize your customer card
records with your contact records
in Microsoft Outlook.
page 225
„
Historical sales [Existing businesses only] If customers
owed you money on the first day of your conversion month,
you will need to record some details about the corresponding
sales, such as the invoice date and the amount that is
outstanding.
Create job
records
Create job records to track the
progress and profitability of the
work you do for your clients.
page 237
Group cards
Use identifiers and custom lists to
group the cards of customers who
have similar attributes.
page 223
You can use the Sales Easy Setup Assistant to do these tasks. To
access the assistant, go to the Setup menu, choose Easy Setup
Assistant, and then click Sales.
You can also use the Sales Easy Setup Assistant to specify your
preferred invoice layout, the income account you will allocate
most of your sales to, and several other settings. These settings
will automatically be selected for new customer records you
create; however, you can change them as required.
SET UP SALES
35
Set up purchases
You can use the purchases features to:
„
record quotes, orders, and bills
„
view your purchase history
„
see what you owe your vendors.
Do you need to do this task? If you want to record the
orders and purchases you make with vendors and track the amounts
you owe, you need to set up the purchases features.
NOTE :
Before you start using the purchases features, you should enter
the following information:
„
Vendor details Create a card record for each of your
vendors and enter such details as their addresses and phone
numbers.
„
Historical purchases [Existing businesses only] If you had
outstanding bills on the first day of your conversion month,
you will need to record some details about them, such as the
bill amounts and the credit terms.
You can use the Purchases Easy Setup Assistant to do these
tasks. To access the Purchases Easy Setup Assistant, go to the
Setup menu, choose Easy Setup Assistant and then click
Purchases.
Optional purchases setup tasks
In addition to the Purchases Easy Setup Assistant tasks, you
may also want to do the following tasks if they are relevant to
your business.
Task
See
Customize
forms
Change the appearance of the
default purchase orders and other
forms.
page 210
Import cards
Import vendor information from:
• another MYOB company file
• another accounting system
• a spreadsheet
• a text file.
page 275
Synchronize
vendor records
with Outlook
Synchronize your vendor card
records with your contact records
in Microsoft Outlook.
page 225
Group cards
Use identifiers and custom lists to
group the cards of vendors who
have similar attributes.
page 223
You can also use the Purchases Easy Setup Assistant to choose
the payment method you normally use to pay bills, your
preferred purchase order layout, and several other settings that
will help you record purchases faster. These settings will
automatically apply to new cards you create for your vendors;
however, you can change them as required.
36
CHAPTER 3
ADVANCED SETUP
Set up payroll
You use the payroll feature to:
„
process pays for your employees
„
track employee accruals (such as sick and vacation leave)
„
pay accrued payroll liabilities
„
print pay stubs and paychecks
„
print payroll tax forms.
Do you need to do this task? If you want to process
employee pays, track amounts you owe to the IRS and print payroll
tax forms, you need to set up the payroll features.
NOTE :
Before you start using the payroll features, you need to:
„
Load tax tables Payroll taxes are amounts that are
calculated and deducted from employee pays according to
the rules established by the government taxation authorities.
In MYOB software, these calculation rules are stored in a tax
table file that you need to load into your company file.
„
Enter general payroll information Enter the current
payroll year, the number of hours in your normal working
week and your company’s tax details.
„
Review payroll categories The components of an
employee’s pay, such as wages, accruals, and taxes, are called
payroll categories. These are assigned to an employee’s card
to calculate their standard pay.
It’s a good idea to review the details of each payroll category
to make sure it matches the way you do business.
„
Enter employee details Create a card record for each of
your employees and enter such details as their addresses and
payroll information.
SET UP PAYROLL
„
Enter pay history [Existing businesses only] If you have
already paid the employee in the current payroll year, you
should enter the amounts you have paid your employees.
You can use the Payroll Easy Setup Assistant to do these tasks.
To access the Payroll Easy Setup Assistant, go to the Setup
menu, choose Easy Setup Assistant and then click Payroll.
For more information about creating payroll categories and
entering employee payroll information, see ‘Creating payroll
categories’ on page 111 and ‘Entering employee payroll
information’ on page 118.
Optional payroll setup tasks
In addition to the Payroll Easy Setup Assistant tasks, you may
also want to do the following tasks if they are relevant to your
business.
Task
See
Set up
timesheets
Use timesheets to record all the hours
worked by hourly employees. If you
pay employees for time-billing
activities, you can also enter activity
details on timesheets and use these
details to create activity slips.
page 121
Customize
forms
Change the appearance of the default
pay stub and paycheck forms.
page 210
Import cards
Import employee information from:
• another MYOB company file
• another accounting system
• a spreadsheet
• a text file.
page 275
37
Task
See
Synchronize
employee
records with
Outlook
Synchronize your employee card
records with your contact records in
Microsoft Outlook.
page 225
Group cards
Use identifiers and custom lists to
group the cards of employee who
have similar attributes.
page 223
Set up payroll
tax forms
Prepare and print official copies of the
W-2 and W-3 tax forms.
page 47
Do an initial bank reconciliation
To ensure the accuracy of your business records, you should
ensure that the record of your bank account balances matches
the amounts on your bank statements. This task is called
reconciling accounts.
If your business traded prior to your conversion month and you
have uncleared banking transactions as of the first day of your
conversion month, you need to do an initial bank reconciliation.
Uncleared banking transactions are withdrawals and deposits
that have not been cleared by your bank as of the start of your
conversion month.
Do you need to complete this task? The initial bank
reconciliation procedure needs to be done for each bank account
that had uncleared transactions as of the first day of your conversion
month.
NOTE :
38
To do an initial bank reconciliation:
Task
See
1
Identify uncleared withdrawals and deposits
below
2
Record uncleared withdrawals and deposits
page 39
3
Reconcile
page 40
Task 1: Identify uncleared withdrawals
and deposits
Compare your banking source information (such as your
checkbook and deposit book) with your bank statements for the
period that includes your conversion date. If you find transactions
that have not been cleared by your bank as of this date, you will
need to record the details of these transactions in your company
file.
CHAPTER 3
ADVANCED SETUP
For example, in December, the month prior to your conversion
month, you wrote a check for $1,000 and deposited $500 you
received from a customer. If these transactions had not appeared
on a bank statement by 31 December, you need to record both
transactions in your company file.
7
Enter details of the withdrawal in the Memo field.
8
Click Record.
9
Repeat from step 3 above for each uncleared withdrawal.
Task 2: Record uncleared withdrawals
and deposits
You need to record uncleared transactions in such a way that the
opening bank account balance is not affected. To do this, you
need to post a debit and a credit of equal amounts for each
transaction against the applicable bank account.
To record uncleared withdrawals
1
Go to the Banking command center and click Spend Money.
The Spend Money window appears.
2
In the Pay from Account field, type or select the bank
account you want to reconcile.
3
In the Check # field, enter a reference number for the
withdrawal.
1
Go to the Banking command center and click Receive
Money. The Receive Money window appears.
4
In the Date field, type the first day of your conversion month.
For example, if your conversion month is January 2009, enter
01/01/09.
2
In the Deposit to Account field, type or select the bank
account you want to reconcile.
3
In the Date field, type the first day of your conversion month.
For example, if your conversion month is January 2009, enter
01/01/09.
4
In the Amount Received field, type the amount of the
deposit.
5
In the Acct # field, type or select the bank account you want
to reconcile. This must be the account entered in step 2
above.
5
In the Amount field, type the amount of the withdrawal.
6
In the Acct # field, type or select the bank account you want
to reconcile. This must be the account entered in step 2
above.
DO AN INITIAL BANK RECONCILIATION
To record uncleared deposits
39
6
When you recorded uncleared transactions, the same
account was debited and credited with the same amount.
Therefore, an uncleared transaction appears as both a deposit
and a withdrawal.
Enter details of the deposit in the Memo field.
7
Click Record.
8
Repeat from step 3 on page 39 for each uncleared deposit.
5
For each uncleared withdrawal, click the select column next
to the deposit.
6
For each uncleared deposit, click the select column next to
the withdrawal.
Task 3: Reconcile
When each uncleared transaction is selected, $0.00 appears
in the Out of Balance field.
To reconcile the account
40
1
Go to the Banking command center and click Reconcile
Accounts. The Reconcile Accounts window appears.
2
In the Account field, select the bank account you want to
reconcile.
3
In the New Statement Balance field, type the closing bank
balance as of the day prior to your conversion month (for
example, the closing balance as of 12/31/2008).
4
In the Bank Statement Date field, type the first date of your
conversion month. (For example, if your conversion month is
January 2009, enter 01/01/09.) Your uncleared transactions
appear.
7
Click Reconcile. A confirmation window appears.
„ To print a report, click Print Report. When the report is
printed, click Reconcile.
„ To reconcile without printing a report, click Reconcile.
„ To change any details you entered in the Reconcile
Accounts window, click Cancel.
CHAPTER 3
ADVANCED SETUP
Create item records
You can use item records to store information about a product
and to track the quantities you buy and sell. You can also create
records for each type of service you provide.
Do you need to complete this task? If you buy and sell
items, such as finished goods, components used in production, and
raw materials, you need to create records for them.
Optional inventory setup tasks
You may want to do the following tasks if they are relevant to
your business.
NOTE :
Item records enable you to view the sales and purchase history of
the products you sell or use in production. You can determine
which items are your best sellers and what you have in stock. This
can help you identify sales trends and reorder items before you
run out of them.
You can also create item records for the services you provide. This
enables you to list the items and services you buy and sell on the
same purchase order or invoice.
For example, if you are a plumber, you could set up items for the
materials you buy in order to carry out your work. You could also
set up item records for the services you provide, such as
installation and repairs. You can then record the labor and
material charges on the same invoice.
For more information about creating item records, see ‘Creating
items’, on page 149.
CREATE ITEM RECORDS
Task
See
Import items
Import item information from:
• another MYOB company file
• another accounting system
• a spreadsheet
• a text file.
page 275
Set up pricing
levels
Customize item pricing according to
customer status and sales quantities.
page 162
Create
locations
If you hold inventory at several
locations, you can keep track of item
quantities held at each location.
page 154
Group items
using custom
lists
Group and sort items by assigning
attributes to your items from custom
lists you define.
page 163
Create custom
fields
Set up fields to record additional
information about your inventory
items.
page 164
41
Enter your inventory opening balances
difference between the On Hand column and the Counted
column.
If you had items on hand as of the first day of your conversion
month, and you want to track on-hand quantities and values
these items, you need to enter your inventory opening balances.
Before you enter your opening inventory balances, you need to
count the actual items in your inventory. To help you do this, you
can print the Inventory Count Sheet report, which lists all your
inventoried items, and manually record quantities on it.
To print the inventory count sheet
1
Go to the Inventory command center and click Count
Inventory. The Count Inventory window appears.
2
If you store your items at several locations, select the method
you want to use to group your items. You can group items by
item number or by location.
3
Click Print. The Inventory Count Sheet report is printed
with a list of all your items.
4
Enter all your on hand quantities on this sheet.
To enter opening on hand inventory items and values
42
1
Go to the Inventory command center and click Count
Inventory. The Count Inventory window appears with a list
of your inventory items.
2
If you store your items at several locations, select the method
you want to use to group your items. You can group items by
item number or by location.
3
If you store your items at several locations, select the Include
Zero On-Hand Quantities option. A list of all your items
appears.
4
In the Counted column, type the quantity counted for each
item. The Difference column will change to show the
5
When you have entered all your item quantities, click Adjust
Inventory. The Default Expense Account window appears.
When you are entering opening on-hand balances, you don’t
need to enter a default expense account.
6
Click Continue. The window that appears depends on
whether you have entered an opening balance for your
inventory asset account (see ‘Enter account opening
balances’ on page 29).
„ If you entered an inventory opening balance, the Adjust
Inventory window appears.
„ If you did not enter an inventory opening balance, the
Opening Balance Check window appears. Click Adjust
Balances. The Adjust Inventory window appears.
The Adjust Inventory window displays a line for each item
whose opening quantity you entered in the Count Inventory
window. The line items display each item's number, name,
quantity, and the account to which the opening balance will
be posted. This account is either your inventory asset
account, or, if you have not entered an opening balance for
CHAPTER 3
ADVANCED SETUP
your inventory asset account, your historical balancing
account.
7
Enter any changes to the default entries in the Inventory
Journal Number, Date, and Memo fields.
8
Type the unit cost of each item (that is, how much a single
unit of each item costs you, not how much you are selling it
for).
Do not change the account number in the Account
column. The selection you made at step 7 determines the
default account used to record your opening balances.
NOTE :
9
Click Record. The value of each item in the list is updated.
You can print the Items List Summary report to check your
inventory status. For more information on printing reports,
see ‘Reports’ on page 195.
Set up MYOB Business Services
You can receive credit card payments and make electronic
payments directly using your MYOB software. You do this with
MYOB Business Services, which replace the manual entry of
credit card sales, employee paychecks, and vendor payments.
Using the Internet, transaction details are imported from financial
institutions and credit card providers to your MYOB software,
where they can easily be reconciled with your bank statements.
MYOB Business Services include:
„
MYOB Merchant Account Service—which lets you process
customers’ credit card payments
„
MYOB Direct Deposit Service—which lets you pay your
employees electronically
„
MYOB Vendor Payments Service—which lets you pay your
vendors’ bills electronically.
NOTE : MYOB Business Services are one-way You can receive
credit card payments but not make credit card payments using
MYOB Business Services; you can make electronic payments but not
receive them using MYOB Business Services. MYOB Business Services
requires payments in U.S. dollars.
SET UP MYOB BUSINESS SERVICES
43
To learn about MYOB Business Services
Specifying MYOB Business Services checking accounts
To learn about...
Choose...
MYOB Merchant
Account Service
Credit Card Processing and then Learn
About Credit Card Processing.
When you apply for the MYOB Merchant Account Service (credit
card processing), you must select a checking account into which
credit card issuers are to deposit receipts. When you are setting
up MYOB Direct Deposit or MYOB Vendor Payments (together
referred to as ‘electronic payments’), you must enter the bank
routing information for the checking account from which
electronic payments are to be withdrawn.
MYOB Direct Deposit
Electronic Payments and then Learn
About Direct Deposit.
To apply for MYOB Business Services
MYOB Vendor
Payments
Electronic Payments and then Learn
About Electronic Vendor Payments.
1
Open your MYOB software company file.
2
Go to the Setup menu and choose an option:
The overview page for the chosen service appears.
1
Make sure you are connected to the Internet.
2
Open your MYOB software company file.
3
Go to the Setup menu and choose an option:
Activating MYOB Business Services
Before you can activate and begin using MYOB Business Services,
you need to apply for a merchant account and for the services you
require. Once your application is approved, you will be sent the
information required to activate MYOB Business Services.
You need the merchant account to authorize and track
transactions through the electronic payments network. In
addition, you must also apply for at least one service, either credit
card processing (MYOB Merchant Account Service) or electronic
payments (MYOB Direct Deposit and MYOB Vendor Payments). If
you initially opt for only one of these services, you can apply for
the others later.
44
To apply for...
Choose...
MYOB Merchant
Account Service
Credit Card Processing and then Learn
About Credit Card Processing.
MYOB Direct Deposit
Electronic Payments and then Learn
About Direct Deposit.
MYOB Vendor
Payments
Electronic Payments and then Learn
About Electronic Vendor Payments.
The overview page for the chosen service appears.
4
Click the Apply Now link.
5
Follow the on-screen application instructions.
When your application is approved, you will be sent a
merchant ID, user name, and password required to activate
your merchant account. If you applied for the MYOB
Merchant Account Service, you will also receive a separate
package of literature, signage, and other materials.
CHAPTER 3
ADVANCED SETUP
c If you want to record a log entry in the Contact Log each
To activate MYOB Business Services
time you authorize a credit card payment using the MYOB
Merchant Account, select the Make Contact Log Entries
for Credit Card Payments option. (A log will be created
only when you receive an authorization -- Authorization
Code and Trace ID -- automatically over the Internet. If you
manually authorize, by phone, for example, no log entry is
made.)
The log entry will include the Authorization Code and the
Trace ID for the credit card transaction. If you need to locate
a credit card transaction, for example, in the case of a
chargeback from the credit card company, having these
numbers will help you track the transaction.
Make sure you have your merchant ID, user name, and password
on hand.
1
Open your MYOB software company file.
2
Go to the Setup menu and choose an option from the table
below:
To activate...
Choose...
MYOB Merchant
Account Service
Credit Card Processing and then Set
up Credit Card Processing.
MYOB Direct Deposit
Electronic Payments and then Set up
Electronic Payments & Direct Deposit
MYOB Vendor
Payments
Electronic Payments and then Set up
Electronic Payments & Direct Deposit
4
If you are setting up MYOB Direct Deposit and/or Vendor
Payments:
a Select the Direct Deposit and/or Vendor Payments
option.
b Select the account from which electronic payments are to
be withdrawn—usually the checking account—in the Pay
From Account field. This account will become the default
in the Prepare Electronic Payments window.
c If you want, select the Check for Online Error
Notifications when MYOB Premier is launched option.
5
Enter the Merchant ID, User Name, and password
information you received when you subscribed to MYOB
Business Services.
6
Click OK.
The MYOB Business Services Setup window appears.
3
If you are setting up MYOB Merchant Account Service:
a Select the Credit Card Processing of Customer
Payments option.
b If you want to start the authorization process as well as
record the transaction when you click Record in the
transaction windows [Enter Sales (New Order or New
Invoice), Receive Payments, Receive Money, and Settle
Returns & Credits windows], select the Send Credit Card
Payments for Authorization Using the Record Button
option.
Do not use the ‘Send Credit Card Payments for
Authorization Using the Record Button’ preference if you
use the Get Statement feature If you use the MYOB
Merchant Account Service and the Get Statement feature,
we recommend that you don’t select the option to authorize
a credit card payment using the Record button.
If an authorized transaction that has not been entered into
your MYOB company file is included in the Unmatched
Statement Transaction window, you could inadvertently,
authorize the transaction when you click Record in this
window.
NOTE :
SET UP MYOB BUSINESS SERVICES
45
Set up MYOB Vendor Payments and
MYOB Direct Deposits
When you have activated your MYOB Vendor Payments or MYOB
Direct Deposits service, do the following to set up your service.
Step
See
Step 1: Record your bank account information
below
Step 2: Set up an electronic payments clearing account
below
Step 3: Record vendor bank information
below
Step 4: Record employee bank information
page 47
Step 1: Record your bank account information
You need to record your bank identification information for the
checking account you specified in the MYOB Business Services
Setup window. This is required for routing payments across the
electronic payments network.
Entering bank account details in the Accounts Easy Setup
Assistant If you entered banking details for your accounts in the
Set up the Accounts List to meet your business needs window of
the Accounts Easy Setup Assistant, you can ignore this procedure.
Step 2: Set up an electronic payments clearing account
When you record a transaction you want to pay electronically,
you need to post the transaction to a temporary holding account
until you create the electronic payment file. This holding account
is called a clearing account.
Check your accounts list for an account named ‘Electronic
Clearing Account.’ If it doesn’t exist, you need to create it. Note
that the clearing account must be a banking account, that is, an
account with a Bank or Credit Card type. For information on
creating an account, see ‘Set up accounts’ on page 26.
Before you can post transactions to the electronic clearing
account, you need to make this account the linked (default)
account for electronic payments.
1
Go to the Setup menu, choose Linked Accounts and then
Accounts & Banking Accounts. The Accounts & Banking
Linked Accounts window appears.
2
In the Bank Account for Electronic Payments field, type or
select the Electronic Clearing Account.
3
Click OK.
NOTE :
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
2
Locate a vendor that you pay electronically and click Edit. The
Card Information window appears.
3
Click the Payment Details tab.
4
Enter the vendor’s bank account details.
Click Edit. The Edit Accounts window appears.
5
Click OK to return to the Cards List window.
4
Click the Banking tab.
6
Repeat from step 2 for each vendor you pay electronically.
5
Enter your bank account details. Copy this information as it
appears on your bank statement or checkbook.
6
Click OK to return to the Accounts List window.
1
Go to the Accounts command center and click Accounts
List. The Accounts List window appears.
2
Select the bank account you will use for electronic payments.
This is the account you selected in step 4 in ‘To activate
MYOB Business Services’ on page 45.
3
46
Step 3: Record vendor bank information
CHAPTER 3
ADVANCED SETUP
Step 4: Record employee bank information
2
Locate an employee that you pay electronically and click Edit.
The Card Information window appears.
Entering employee bank details in the Payroll Easy Setup
Assistant If you entered banking details for your employees in the
Build your employee list window of the Payroll Easy Setup
Assistant, you can ignore this procedure.
3
Click the Payment Details tab.
4
Select Electronic from the Payment Method list.
5
Enter the employee’s bank account details.
6
Click OK to return to the Cards List window.
7
Repeat from step 2 for each employee you pay electronically.
NOTE :
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
Set up MYOB Payroll Tax Forms
Your MYOB software provides all the features necessary to
prepare and print official copies of forms W-2 and W-3 at the end
of the payroll year. If you register for MYOB's Payroll Tax Forms
service, you can also prepare and print many state and federal
payroll forms using information extracted from your company
file. The payroll tax forms that you prepare using your MYOB
software can be filed in several formats, depending on the type of
form and the requirements of state and federal law.
Registering to use MYOB Payroll Tax
Forms
If you want to use the MYOB Payroll Tax Forms service, you need
to register. Without registration, you'll be able to prepare all your
state and federal forms, but a large watermark will be printed
across each form. You can use the information to manually
complete your tax forms, but you cannot submit watermarked
forms.
1
Go to the Payroll command center and click Prepare Payroll
Tax Forms. The Select Payroll Tax Form window appears.
2
Click Register. The Payroll Tax Forms Registration window
appears.
3
Decide how you want to register:
„ If you want to register by phone, call the number on the
window. An MYOB representative will take your
registration information and provide you with a
registration code.
„ If you want to register online, ensure that you are
connected to the Internet. Click Register Online and
complete the online registration process. Your registration
code and instructions will be emailed to you.
W-2 and W-3 forms You do not need to register for the
MYOB Payroll Tax Forms service to file W-2 and W-3 forms. These
forms will not be printed with a watermark. However, if you want to
electronically file these forms, you need to register for the eFile
service. For more information, see ‘MYOB eFile’ on page 48.
NOTE :
You can register for MYOB Payroll Tax Forms by phone or online.
Before registering, you need to set up your payroll information.
To register to use MYOB Payroll tax forms
Once registered, your MYOB software will remind you each
year to renew your registration.
SET UP MYOB PAYROLL TAX FORMS
47
To enter Payroll Tax Forms registration codes
To update your MYOB Payroll Tax Forms
When you have registered for MYOB Payroll Tax Forms, you need
to enter the registration code.
Most of the state and federal forms that you prepare require
periodic updates to ensure that you are always using the most
current versions. You will be notified, every three months, which
forms are out of date, and given the opportunity to update them.
You can elect to update all of your forms or any combination of
forms you need. In addition to the latest versions of the forms,
your updates will include any new Payroll Tax Forms features that
have been implemented since your last update.
1
Go to the Payroll command center and click Prepare Payroll
Tax Forms. The Select Payroll Tax Form window appears.
2
Click Register. The MYOB Payroll Tax Forms Registration
window appears.
This window displays the Federal Tax ID (EIN) entered in your
company file. If you have already entered valid registration
codes for this EIN, they will appear in the Reg Code list.
3
If you want to enter registration codes for a different EIN,
enter that number in place of the one that is displayed.
4
Enter a registration code and then click Enter. The Reg Code
list will display all of the forms to which you have access with
the code you entered.
5
Repeat this step for each code you want to enter for this EIN.
6
If you need to enter a registration code for another EIN,
repeat the above steps until you have entered all of your
codes.
7
Click Done. The Select Payroll Tax Form window reappears.
MYOB eFile
MYOB eFile service allows you to file your forms electronically.
You need to register before you can use this service. You can do
this from within the Payroll Tax Forms system, or by visiting the
MYOB eFile Center on the web.
For more information about payroll tax forms, see MYOB online
help.
48
CHAPTER 3
ADVANCED SETUP
Banking
BANKING
4
This chapter shows you how to record the checks you have written, the checks and credit card payments you have received, your credit card
purchases, your credit card payments, and your ATM and Internet banking withdrawals and transfers.
MYOB software can handle any number of bank and credit card accounts and allocate them to as many accounts as you like. If you are familiar
with multi-column cashbook systems, you can think of your MYOB software as having the capacity to run multiple cashbooks with many
columns.
Receiving money
In your MYOB software, the term receiving money specifically
refers to recording receipts other than payments relating to
invoices. These receipts include capital injections, interest,
adjustments, and so on. These can be entered using the Receive
Money window or by selecting the Receive Money transaction
type in the Bank Register window.
The Receive Money window lets you record more details about
the receipt and allocate the receipt to more than one account.
This is the procedure covered in this section. If you want to use
the Bank Register window—which lets you record a receipt with
minimum details—see ‘Entering transactions in the Bank Register
window’ on page 54.
If you want to record a payment for an invoice entered using the
Sales command center, use the Receive Payments window or
select the Receive Payment transaction type in the Bank Register
window. See ‘Receiving payments’ on page 81 for more
information.
The options for recording receipts and invoice payments are
summarized in the following diagram.
49
Printing payment receipts You can print payment receipts for
payments entered in the Receive Money and Bank Register
windows. For more information, see ‘Printing payment receipts’
on page 83.
MYOB Business Services MYOB Business Services is a set of
subscription services that you can use to process credit card
payments from customers, send electronic payments to vendors
and deposit paychecks for your employees over the Internet
directly from your MYOB software. With the MYOB Merchant
Account Service, you can authorize customer credit card
payments online using your MYOB software. For more
information, see ‘Set up MYOB Business Services’ on page 43.
more information, see ‘Credit card payments using MYOB
Merchant Account Service’ on page 60.
8
Type the date of the transaction.
9
[Optional] Type a detailed comment in the Memo field to
help you identify the transaction later.
10
Allocate the amount to the appropriate accounts.
A
To record money you receive
50
1
Go to the Banking command center and click Receive
Money. The Receive Money window appears.
2
Choose one of the following:
„ Deposit to Account—In the Deposit to Account field,
type or select the required bank account.
„ Group with Undeposited Funds—Choose this option if
you want the deposit to be recorded in the undeposited
funds account. After you have grouped all the deposit
transactions you want, you can make one bank deposit for
all the undeposited funds. For more information, see ‘Bank
deposits’ on page 51.
3
In the Payor field, type or select the payor’s name.
4
In the Amount Received field, type the amount received.
5
[Optional] In the Payment Method field, select the payment
method.
6
[Optional] If you want to record additional details about the
transaction, such as a check number, click Details and record
the details in the Applied Payment Details window that
appears.
7
[MYOB Merchant Account Service users only] If you received
a credit card payment, process the credit card payment. For
B
C
D
A
Type or select the account to which you want to assign the deposit.
B
Type the amount you want to assign to each account. The total
amount in this column must equal the amount in the Amount
Received field before you can record the transaction.
C
[Optional] Assign the amount to a job by entering the job code here.
D
[Optional] Type a memo for each line item you enter in the
transaction.
11
If the payment covers more than one account, repeat step 10
on a new transaction line.
12
If you want to assign the transaction to a particular category,
select a category from the Category list. For more
information about categories, see ‘Tracking financial
information’ on page 235.
Save the deposit as a recurring transaction To store the
transaction as a recurring transaction so that you can use it
again, click Save as Recurring. In the Edit Recurring Schedule
window, enter the necessary information and click Save. For
more information about creating and using recurring
transactions, see ‘Recurring transactions’ on page 189).
TIP :
13
Click Record.
CHAPTER 4
BANKING
Bank deposits
You can create a bank deposit transaction to record the receipt of
multiple customer payments that you want to deposit as a single
transaction in your bank account (such as the day’s check, credit
card, or cash takings).
Before you record a bank deposit, you need to post the payments
to a temporary holding account (known as an Undeposited Funds
account) until you create a bank deposit. To do this, select the
Group with Undeposited Funds option in the Receive Money
or Receive Payments windows when you record a payment.
3
If you want to group receipts by payment method:
a In the Select Receipts by field, select Payment Method.
b In the adjacent field that appears, select one or more
payment types. (For credit cards, select one or more credit
card types.) Only payments made using that method are
listed.
4
Type a date to display undeposited funds up to and including
that date.
5
[Optional] Type a description of the bank deposit in the
Memo field.
6
Select the receipts you want to include in the bank deposit by
clicking in the Deposit column next to them. Alternatively, if
you want to select or deselect all receipts, click ( ) at the top
of the Deposits column.
7
[Optional] If you need to enter an adjustment
transaction—for example, to record credit card transaction
fees or to keep part of the deposit as cash—click Deposit
Adjustment. The Bank and Deposit Adjustments window
appears.
To prepare a bank deposit
1
2
Go to the Banking command center and click Prepare Bank
Deposit. The Prepare Bank Deposit window appears.
In the Deposit to Account field, select the account into
which the funds selected in the Prepare Bank Deposit
window will be deposited.
BANK DEPOSITS
51
8
In the Fees and Cash Back and/or the Adjustment for
Excess Funds fields:
a Type the adjustment amount.
b Type the date and an ID number.
c Select an expense or income account—as appropriate—for
the adjustment amounts.
d Type a description in the Memo field and complete other
fields as necessary.
e Click Record.
If you need to record additional adjustments or fees, click
Deposit Adjustment again.
9
Click Record to record the bank deposit.
Spending money
In MYOB software, the term spending money refers specifically to
recording payments for transactions for which a purchase has not
been recorded. These include equity drawings, bank charges,
telephone bills, and so on. These types of payment can be
entered using the Spend Money window or by selecting the
Spend Money transaction type in the Bank Register window.
The options for recording payments are summarized in the
following diagram.
The Spend Money window lets you record more details about
the payment and allocate the payment to more than one
account. This is the procedure covered in this section. If you want
to use the Bank Register window—which lets you record a
payment with minimum details—see ‘Entering transactions in
the Bank Register window’ on page 54.
If you want to make payments to vendors for purchases entered
using the Purchases command center, use the Pay Bills window
or select the Pay Bill transaction type in the Bank Register
window. For more information on how to pay a vendor, see
‘Paying bills’ on page 103.
52
CHAPTER 4
BANKING
MYOB Vendor Payments MYOB Vendor Payments is a
subscription service you can use to pay your vendors over the
Internet directly from your MYOB software. For more
information, see ‘Set up MYOB Business Services’ on page 43.
To record money you spend
1
2
4
If you want to change the default payee address, type or
select the payee’s address in the Payee field.
5
Allocate the payment to the appropriate account.
Go to the Banking command center and click Spend Money.
The Spend Money window appears.
Specify how the payment is to be made.
„ If you are paying the vendor electronically using MYOB
Vendor Payments, click Group with Electronic Payments.
„
3
Enter the payee card, check number (or other identification
number), amount, memo, etc.
If you are paying the vendor by some other means—such
as by cash, check, credit card, or Internet banking—type or
select the account you are paying from in the Pay from
Account field.
A
B
C
D
A
Select or type the account to which you want to assign the
check amount.
B
Type the allocation amount here.
C
[Optional] Assign the check amount to a job by entering the job
code here.
D
[Optional] Type a memo for each line item you enter in the
transaction.
6
If your payment covers more than one account, repeat
step 5. You would do this, for example, when paying for a
purchase with a number of different types of purchases on it:
postage, magazines, stationery, etc.
7
If you want to assign the payment to a particular category,
select a category from the Category list. For more
information about categories, see ‘Tracking financial
information’ on page 235.
TIP : Recap transaction Before you record a transaction, you
can use the recap transaction feature (choose Recap
Transaction from the Edit menu) to view the journal entries
that will be created when the transaction is recorded. This is
useful for confirming that the journal entries are being posted to
the correct accounts.
Fill in the information in the check area of the window, just as
you would if you were writing a paper check.
SPENDING MONEY
53
Complete the transaction
Save the payment as a recurring transaction If you
want to store the payment as a recurring transaction click Save
as Recurring. In the Edit Recurring Schedule window, enter
the necessary information and click Save. For more information,
see ‘Recurring transactions’ on page 189.
10
If you want to preview the payment notification or check for
this transaction, click Print and then choose Preview Check
or Preview Payment Notification. Note that the transaction
is recorded before it is displayed.
11
If you want to print a check or payment notification now, click
Print and select the form type you want to print. Note that
the payment is recorded before it is printed.
Click Record.
TIP :
8
If you are paying by check and have already written a check,
select the Check Already Printed option.
12
9
If you want to send a payment notification in a batch, select a
payment notification option from the Payment Notification
Delivery Status list.
Paying vendors electronically
After you have recorded a number of payments, say, the day’s
payments, you can print or email a transaction batch. For
more information, see ‘Sending forms’ on page 206.
When you have recorded the payments you want to pay using
MYOB Vendor Payments, you need to prepare an electronic
payment. For more information, see ‘Preparing electronic
payments’ on page 106.
Entering transactions in the Bank Register window
54
You can enter the following transactions in the Bank Register
window: checks, deposits, payments to vendors, payments from
customers, sales, and purchases.
Note that you cannot use the Bank Register to record electronic
payments using MYOB Vendor Payments, or to record payments
to vendors who you want to send payment notification to.
The main advantages of using the Bank Register window to
enter transactions instead of using transaction windows such as
Spend Money are speed and convenience. For example, you can
record a customer payment, pay a bill, and then write a check
without having to open multiple windows and switch between
them. As transactions can be recorded with minimum detail, you
save time when entering a batch of transactions.
Importing online bank and credit card statements You can
also use the Bank Register window to import your bank and
credit card statements. If a statement contains any transactions
that you have not entered, you can add them quickly in the Bank
Register window. For more information, see ‘Importing
statements’ on page 66.
CHAPTER 4
BANKING
window will appear, and you can then allocate the amount to
multiple accounts of your choice.
To enter a transaction in the Bank Register window
1
Go to the Banking command center and click Bank Register.
The Bank Register window appears.
Note that you can also click Split to:
„ apply payments to a particular invoice or bill
„ enter the payment method
„ print the transaction.
When the Split button is not available If the
transaction type is Enter Sale or Enter Purchase, Split is not
available. To open the transaction window, you will need to
record the transaction, then click the zoom arrow ( ) next to
the transaction in the Bank Register window.
NOTE :
2
In the Account field, select the bank or credit card account
that will be used for this transaction.
3
In the lower part of the window, select the transaction type
from the Type list.
4
Enter a transaction reference:
„ If you select Pay Bill, Spend Money or Enter Purchase
from the Type list, enter a check number (or other
transaction reference) in the Check # field.
„ If you select Receive Payment, Receive Money, or Enter
Sale from the Type list, enter a transaction reference in the
adjacent ID # field.
5
In the Date field, type the date of the transaction.
6
In the Card field, type or select the card for this transaction.
7
In the Amount field, type the total amount of the transaction,
including tax.
8
If you want to allocate the amount to only one account, type
or select the account that will be used for this transaction.
If you want to allocate the amount to more than one
allocation account, click Split. The corresponding transaction
ENTERING TRANSACTIONS IN THE BANK REGISTER WINDOW
9
If you are entering a sale or a purchase, select the appropriate
tax code in the Tax field.
10
[Optional] Assign the payment to a job by entering the job
code in the Job field. Note that this is not applicable for Pay
Bill and Receive Payment transactions types.
11
[Optional] If you want to record the purpose of the
transaction, type a description in the Memo field.
12
[Optional] If you use categories and want to assign the
transaction to a category, select a category from the
Category list. Note that this is not applicable to Receive
Payment and Pay Bill transaction types. For more
information about categories, see ‘Tracking financial
information’ on page 235.
13
If you want to print the transaction, click Print.
Save the transaction as a recurring transaction If you
want to store the transaction as a recurring transaction, click
Save as Recurring. In the Edit Recurring Schedule window,
enter the necessary information and click Save. Note that this
option is available only for Spend Money and Receive Money
transactions types. For more information about saving and using
recurring transactions, see ‘Recurring transactions’ on page 189.
TIP :
14
Click Record.
55
Transferring money between accounts
You can transfer money between bank accounts, including bank
and credit card accounts, using the Transfer Money window.
You can also use this window to record Internet or
phone-banking transfers.
4
In the Transfer Money To field, type or select the account to
which the funds will be transferred.
5
In the Amount field, type the amount to be transferred.
6
If you want to record the purpose of the transaction, type a
description in the Memo field.
7
If you want to assign the transaction to a particular category,
select the category from the Category list. For information
about categories, see ‘Tracking financial information’ on
page 235.
To transfer money between accounts
1
Go to the Accounts command center and click Transfer
Money. The Transfer Money window appears.
Save the transaction as a recurring transaction To save
the transaction as a recurring transaction, click Save as
Recurring. Enter details of the recurring transaction in the Edit
Recurring Schedule window and click Save. For more
information about recurring transactions, see ‘Recurring
transactions’ on page 189.
TIP :
8
56
2
Enter a date for the transfer.
3
In the Transfer Money From field, type or select the account
from which the funds will be transferred.
Click Record.
CHAPTER 4
BANKING
Tracking petty cash expenses
Most businesses keep a small amount of cash handy at the office
for miscellaneous expenses—postage, staff amenities, and so on.
You can track this petty cash amount separately by using a petty
cash account, and allocating any miscellaneous expenses to that
account.
To allocate expenses to the petty cash account
Check your accounts list for an account named ‘Petty Cash’. If it
doesn’t exist, you need to create it. For information on creating
an account, see ‘Set up accounts’ on page 26.
1
Go to the Banking command center and click Spend Money.
2
In the Pay from Account field, select the Petty cash account.
3
Enter a description of the transaction in the memo field.
To transfer money to your petty cash account
4
Type the date and amount of the transaction.
5
Enter the transactions as line items and allocate them to the
relevant expense account (in this example, the Office
Supplies account and the Postage account).
6
Since you do not need to print a check for this transaction,
select the Check Already Printed option.
7
Click Record.
1
Go to the Accounts command center and click Transfer
Money. The Transfer Money window appears.
2
In the Transfer Money From field, type or select the account
from which the funds will be paid.
3
In the Transfer Money To field, type or select the petty cash
account.
4
Enter the amount you are transferring in the Amount field.
5
Let’s assume you spent $90 on stationery and $10 on postage
from your petty cash account. You would record this transaction
in the following way.
Click Record.
TRACKING PETTY CASH EXPENSES
57
Recording miscellaneous transactions
To void a check
4
Complete the other fields in the window.
If you 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, you may want to void a check.
5
Click Record.
Follow the steps below to void a check that you have not
recorded in MYOB software. If you want to make changes to a
check you have already recorded, see ‘Changing a transaction’
on page 187.
A chargeback is a transaction that is started when a customer
disputes a credit card charge and refuses to pay the credit card
company for the charge. The credit card company then denies
payment to the credit card processor who handled the
transaction. The processor will then deduct the disputed amount
from your merchant account.
1
Go to the Banking command center and click Spend Money.
The Spend Money window appears.
2
Choose the checking account from which you want to void
the check.
3
In the Check # field, type the number of the check you want
to void.
4
Leave the Amount field and the account allocation fields
blank.
5
Click Record, then click OK to confirm that you want to void
the check.
To handle a chargeback
To handle a chargeback, we recommend that your transactions
are set to be unchangeable. You can do this by going to the
Setup menu, choosing Preferences, clicking the Security tab
and selecting the Transactions CAN’T be Changed; They Must
be Reversed option.
1
Find the payment that is being charged back to you. If you
selected the preference to make contact log entries for credit
card payments (go to the Setup menu, choose Credit Card
Processing and then click Set Up Credit Card Processing),
you may be able to locate the transaction using the
Authorization Code or Trace ID information found in the
contact log.
2
Reverse the payment. See ‘Reversing a transaction’ on
page 188 to complete the task.
To record ATM withdrawals
1
Go to the Banking command center and click Spend Money.
The Spend Money window appears.
2
Select the account from which you withdrew money.
3
In the Check # field, enter a phrase to describe the
withdrawal.
That way you will 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.
58
CHAPTER 4
BANKING
Credit card transactions
Before you record credit card purchases, you need to create a
credit card liability account for each credit card you will use.
Name the accounts VISA, American Express, etc. These accounts
will keep track of the amount owed to the credit card provider.
For information on creating an account, see ‘Set up accounts’ on
page 26.
Recording payments to credit card
providers
Recording payments for credit card
purchases
To record a payment to a credit card provider
You record a payment for a credit card purchase by specifying the
credit card account in the Pay Bills, Spend Money, or Bank
Register window. When you record the transaction, the payment
amount is assigned to your credit card liability account.
When the time comes to pay your credit card provider, you use
the Spend Money window to record a payment from your bank
account to your credit card account.
1
Go to the Banking command center and click Spend Money.
The Spend Money window appears.
2
In the Pay from Account field, select the bank account you
want to use to make this payment.
3
In the Card field, type or select the credit card provider’s
name.
4
Type the payment date in the Date field.
5
Type the amount you want to pay.
6
Type a comment in the Memo field to provide a brief
description of the payment you are recording.
7
In the scrolling list area of the Spend Money window, type or
select the liability account you have created to track
purchases made with this credit card.
8
Click Record to record the credit card payment.
For more information on recording payments, see:
„
‘Spending money’ on page 52
„
‘Entering transactions in the Bank Register window’ on
page 54
„
‘Paying bills’ on page 103.
CREDIT CARD TRANSACTIONS
59
Credit card payments using MYOB Merchant Account Service
If you are subscribed to the MYOB Merchant Account Service,
you can process your customers’ credit card payments online
using your MYOB software. You can process payments for
American Express, Discover, MasterCard, and VISA credit cards.
For more information on subscribing to the MYOB Merchant
Account Service, see ‘Set up MYOB Business Services’ on
page 43.
You can also void a credit card payment using the MYOB
Merchant Account Service, provided you do so within a specified
period. For more information, see ‘Voiding MYOB Merchant
Account Service credit card payments’ on page 64.
Processing credit card payments using
MYOB Merchant Account Service
You can process credit card payments for the following
transaction types:
„
receive money
„
receive payments
„
sales (invoices and orders)
„
sales returns and credits.
With the MYOB Merchant Account Service, you can authorize
your customers’ payments immediately by using the Automated
Clearing House (ACH) to clear credit card transactions for
payments.
If you do not use the card swipe feature, you can set your MYOB
Business Service preferences to authorize and process credit card
payments when you click Record (instead of Authorize). You can
set this preference in the MYOB Business Services Setup
window (from the Setup menu, choose Credit Card Processing
and then Set Up Credit Card Processing).
60
Protection of customer credit card details When you enter a
credit card number for a new payment, enter credit card
payment details in a card, or when you view or edit the payment
details of recorded payments, only the last group of card digits
will be visible in the credit card number field. The full card
number details cannot be viewed again.
You can still edit the credit card number, but it will remain
partially hidden and you will need to enter the full card number
to edit the details.
This feature is designed tocomply with the Payment Card
Industry (PCI) Data Security Standard (DSS), which aims to
minimize the potential for security breaches.
Getting a phone authorization code If you cannot access the
Internet or require additional authorization, you can authorize
payments by entering a phone authorization code.
To obtain a phone authorization code, call the Voice
Authorization Center and provide your MYOB Merchant Account
Service identification details. The Voice Activation Center contact
details and your identification details were provided to you when
your service application was approved.
To enter a credit card payment
1
Open the transaction window in which you’ll make the
payment and enter the transaction details. For more
information on entering details for:
„ receive money transactions, see ‘Receiving money’ on
page 49
„ receive payments transactions, see ‘Receiving payments’
on page 81
„ sales transactions, see ‘Entering sales’ on page 71
„ sales return and credits transactions, see ‘Customer credits’
on page 87.
CHAPTER 4
BANKING
2
In the transaction window, select the customer’s credit card
type from the Payment Method list.
3
Click Details to enter details about the payment. The Applied
Payment Details window appears.
4
If you want to update the customer card with the details
entered in this window, select the Update Customer Card
with Payment Details option. This saves you having to enter
the details each time you process a credit card payment for
the customer.
Entering Cardholder Verification Value code (CVV2)
The CVV2 is a unique three-digit code printed on credit cards. If
the purchaser cannot provide this number, the transaction may
be fraudulent. For security reasons, your MYOB software does
not save this number. You must enter it for each transaction.
NOTE :
7
Choose the card entry method
5
6
If you are entering the credit card details manually:
a In the Card Entry Method field, select Manual.
b Enter all the credit card details: card number, expiration
date, name, and so on.
c Continue from step 7 below.
If you use a credit card swiper:
a In the Card Entry Method field, select Swipe.
b Click Swipe Card. The following window appears.
Select your authorization type.
„ If you are authorizing a payment using the Internet, select
Standard Sale from the Authorization Type list.
„ If you are authorizing a payment using the phone
authorization option, select Phone/Force from the
Authorization Type list and type the six-digit phone
authorization code.
Entering an incorrect Phone Authorization Code A
charge may apply if you process a credit card payment with an
incorrect phone authorization code.
NOTE :
8
Click Authorize. The credit card details are sent for
authorization and a payment is recorded in your company
file—regardless of the result of the credit card authorization.
When the credit card has been successfully authorized, the
Applied Payment Details - Read Only window appears with
the authorization details.
c Swipe the credit card.
The credit card information appears in the Applied
Payment Details window.
However, if:
„ additional authorization details are required (such as when
credit card holders exceed their purchase limit), you need
to contact the Voice Authorization Center to authorize a
payment. Once you have contacted the authorization
CREDIT CARD PAYMENTS USING MYOB MERCHANT ACCOUNT SERVICE
61
„
„
„
center, repeat from step 7 above to complete the
authorization.
the authorization is declined, see ‘Declined authorization’
below
the authorization is not responding, see ‘Timed-out
authorization’ on page 63
you want to void the credit card payment, see ‘Voiding
MYOB Merchant Account Service credit card payments’ on
page 64.
9
Click OK to close the Applied Payment Details - Read Only
window.
10
Click OK to close the transaction window.
„
use another payment method (for example, check or debit
card)
„
reverse or delete the payment (depending on how your
preferences are set up in the Security tab of the Preferences
window).
To finalize a declined authorization
1
Finalizing authorization for an invoice transaction
When you click Close, a window appears describing your
processing options. In this window, click OK to finalize the
payment authorization now. The Receive Payments window
appears.
NOTE :
Declined authorization
Authorization for credit card payments using the MYOB
Merchant Account Service may be declined by the Automated
Clearing House (ACH) if the credit card has been recorded as lost
or stolen.
When an authorization is declined, the Processed Receipt
window appears.
After closing the window, you can:
„
62
re-enter the payment details (for example, using another
credit card)
In the Processed Receipt window, click Close. The payment
transaction window reappears.
2
Choose the appropriate action from the following table:
To...
you need to...
Re-enter the
payment details
Repeat the payment processing from
step 3 in ‘To enter a credit card payment’
on page 61.
Use another
payment method
(not credit card)
Go to step 4 in ‘To record money you
receive’ on page 50 (for a Receive Money
transaction) or step 5 in ‘To record
payments against invoices’ on page 82
(for a Receive Payments transaction).
Reverse (or delete)
the payment
Go to the Edit menu and choose Reverse
Payment (or Delete Payment). For more
information, see ‘Reversing a transaction’
on page 188 or ‘Changing or deleting a
transaction’ on page 186.
Finalize the
payment later
Click Cancel. When you are ready to
finalize the payment, you can use one of
the actions listed above.
CHAPTER 4
BANKING
Is the sale still applicable? If the original sale is no
longer applicable because of the declined payment, remember
to reverse or delete the sales transaction. For more information,
see ‘Reversing a transaction’ on page 188 or ‘Changing or deleting a
To deal with a timed-out authorization
NOTE :
transaction’ on page 186.
NOTE : Is the Internet available?
You can only deal with
timed-out authorizations if you can connect to the Internet. If you
cannot connect, try again later.
1
Access the Payments Gateway service by either:
„ Clicking Login to Payments Gateway.
„ Going to the Setup menu, choosing Credit Card
Processing and then Visit Payments Gateway.
2
In the Payments Gateway website, click Merchant Login
and enter your merchant ID, username and password. For
more information, see ‘Activating MYOB Business Services’ on
page 44.
3
Use the service to generate a report of the day’s credit card
transactions.
4
Locate the transaction that has timed-out and take the
appropriate action based on the status of the transaction:
Timed-out authorization
When authorization over the Internet is not completed within the
time allowed, the authorization process is timed-out and the
following window appears.
A time-out can occur during busy network periods or when your
connection to the internet is interrupted.
Because authorization has been interrupted, the transaction may
or may not have been processed. For example, it is possible that
a payment transaction was authorized, but a delay caused it to
time-out before an authorization number was assigned. In this
example, the transaction has been authorized for payment by the
Automated Clearing House (ACH), but its status may be recorded
as declined in your company file.
Before you deal with a timed-out status, you need determine the
processing status of the timed-out authorization.
If the transaction has not been processed, you can either:
„ reprocess the payment authorization—see step 8 in
‘Choose the card entry method’ on page 61
„ use another payment method—see step 4 in ‘To record
money you receive’ on page 50 (for a Receive Money
transaction) or step 5 in ‘To record payments against
invoices’ on page 82 (for a Receive Payments transaction).
If the transaction has been processed and authorized, you do
not need take any further action. However, note that this
transaction, although processed, has a declined status in your
company file. When you prepare your bank deposit,
remember to include this transaction.
CREDIT CARD PAYMENTS USING MYOB MERCHANT ACCOUNT SERVICE
63
Voiding MYOB Merchant Account Service
credit card payments
longer appears but is replaced by the Void Authorization
button.)
When the void process is complete, you will receive a
message advising you that the transaction has been voided or
that the void authorization has been unsuccessful.
„ If the void authorization has been accepted, the voided
transaction will be reversed or deleted. Whether the
transaction is reversed or deleted depends on whether
your company file transactions can be changed. See
‘Changing a transaction’ on page 187 or ‘Deleting a
transaction’ on page 187.
„ If the void authorization is declined, you will receive a
message that the transaction has been declined. A void
authorization will be declined if, for example, the allotted
time for voiding has passed.
Credit card transactions that have been authorized using MYOB
Merchant Account Service can be voided within a certain period.
You may need to void a payment if a customer no longer wants
to purchase the product and you have already authorized the
payment.
You will know if a transaction has been authorized when an
Authorization Code and Trace ID appear in the Applied Payment
Details window. You’ll also see that the Authorize button has
been changed to a Void Authorization button. If you try to void
an authorized transaction after the set period, the void
transaction will be declined and you will have to process a credit
transaction.
To void an MYOB Merchant Account Service
transaction
1
Find the credit card payment transaction that has been
authorized and approved.
2
Click Details to open the Applied Payment Details window.
3
Click Void Authorization to start the voiding process. (Once
a payment has been authorized, the Authorize button no
4
Click Close to close the Processed Receipt window.
5
Decide what you want to do with the sale:
„ If the void authorization has been accepted, the payment
no longer affects the sale; the payment has been reversed
or deleted. At this time, you can accept a new payment for
the sale or you can reverse or delete the sale.
„ If the void transaction has been declined, you will need to
refund the customer the value of the transaction. See
‘Customer credits’ on page 87.
Reconciling your bank accounts
To ensure the accuracy of your business records, you should keep
your record of each bank account balance matched up with your
bank’s records.
If you are reconciling your bank account for the first time since
you started using your MYOB software, see ‘Do an initial bank
reconciliation’ on page 38.
64
To reconcile your bank accounts
1
Go to the Banking command center and click Reconcile
Accounts. The Reconcile Accounts window appears.
2
In the Account field, type or select the account you want to
reconcile.
CHAPTER 4
BANKING
3
In the New Statement Balance field, type the closing
balance that appears on the statement your bank sent you.
4
In the Bank Statement Date field, type the closing date that
appears on your bank statement and then press TAB. Only
unreconciled transactions dated on or before that date will
appear.
8
Click Reconcile. A window appears indicating whether your
account is reconciled or out of balance.
„ If your account is reconciled, you have the option of
printing the Reconciliation report by clicking Print
(recommended). Once the report is printed, the Reconcile
Accounts window reappears. Click Reconcile again to
complete the reconciliation process. If you don’t want to
print the report, click Reconcile. The transactions you
selected are considered cleared and won’t appear in the
Reconcile Accounts window the next time you display it.
„ If your account is out of balance, the window will indicate
the amount by which your account is out of balance, and
will provide you with some reasons why the account might
be out of balance. To correct the unreconciled amount,
follow the procedure below.
To correct an unreconciled amount
1
5
If you want to import bank statement data electronically, click
Get Statement. For more information, see ‘Importing
statements’ on page 66.
6
For each entry on your bank statement, select the
corresponding transaction by clicking in the select
column ( ). The selected line is highlighted and the
amounts in the Calculated Statement Balance and Out of
Balance fields are updated.
7
If there are entries on the statement relating to bank charges
or bank interest that do not appear among the transactions
on the Reconcile Accounts window, you need to manually
enter these transactions.
a Click Bank Entry. The Bank and Deposit Adjustments
window appears.
b Fill in the appropriate transaction details and click Record.
The Reconcile Accounts window reappears.
RECONCILING YOUR BANK ACCOUNTS
Check the following:
„ did you type the correct figure in the New Statement
Balance field? You need to type the closing balance from
your bank statement, not the opening balance.
„ did you type the correct date (that of the closing balance
from your bank statement) in the Bank Statement Date
field? An incorrect date may prevent some transactions
from appearing in the list.
„ did you select all the transactions that appear on the bank
statement? If not, some transactions might not have been
accounted for in the reconciled balance.
„ did you select, by mistake, a transaction that didn’t appear
on your bank statement? If yes, you need to deselect this
transaction.
„ did you record all bank charges and bank interest entries
that appear on the bank statement? If not, you need to
record them using the Bank and Deposit Adjustments
window and select them for reconciliation.
65
2
Repeat the reconciliation procedure. If your account is still out
of balance, then you may have deleted a transaction that has
been reconciled previously.
Note, when you undo an account reconciliation, you will need to
reconcile each transaction again and reprint your reconciliation
reports.
Identifying deleted transactions using the Audit Trail
report If you have set the Use Audit Trail Tracking
preference, you can use the Audit Trail report to search for
deleted transactions. Note that for a transaction to appear in
this report, you need to have set this preference before deleting
the transaction.
CAUTION :
NOTE :
3
If you have deleted a previously reconciled transaction:
a Re-enter the transaction in your company file.
b Select it for reconciliation.
c Complete the reconciliation procedure.
Undoing an account reconciliation
If you have reconciled a transaction in error or deleted a
previously reconciled transaction, you can undo the previous
account reconciliation. When you undo a reconciliation, all
transactions for that period return to an unreconciled status.
If the error was made in a reconciliation earlier than your last
reconciliation, you can undo several reconciliation periods in
succession in your current fiscal year.
Purged transactions cannot be re-reconciled Do not
undo a reconciliation for a period containing purged transactions.
To undo an account reconciliation
NOTE : Back up before undoing a reconciliation We recommend
that you back up your company file before you undo a
reconciliation. Then, if you want to reverse the undo reconciliation,
you can restore the backup file.
1
Go to the Banking command center and click Reconcile
Accounts. The Reconcile Accounts window appears.
2
In the Account field, type or select the account for which you
want to undo the reconciliation.
3
Click Undo Reconciliation. The Undo Last Reconciliation
window appears, confirming the account and date of the
reconciliation you are undoing.
4
Click Undo Reconciliation. A confirmation window appears.
5
Click OK. The Reconcile Accounts window reappears.
Importing statements
If you have an online banking facility, you can use the Get
Statement feature to import bank statement or credit card
statement files.
This feature enables you to import transactions that you haven’t
recorded in your company file (e.g. bank fees). It also enables you
to use the imported transactions as part of your reconciliation
66
process. Namely, your MYOB software can automatically match
transactions on your statement with the transactions in your
company file. Matched transactions will be marked as cleared for
reconciliation, making it easy for you to reconcile your account at
month-end.
CHAPTER 4
BANKING
If some transactions cannot be matched, you have the option of
matching them manually with uncleared transactions, adding
them, or skipping them altogether. Unmatched transactions are
usually bank interest, account fees, and penalty charges applied
by the bank.
7
Choose what you want to do with the transactions.
„ If you want to match a transaction, select the transaction
and click Match Transaction. The Match Transaction
window appears, listing the uncleared transactions in your
company file for the specified account. Select the
transaction that you want to match with the statement
transaction and click Match. The transaction will be
marked as cleared.
„ If you want to add a transaction to your company file,
select the transaction and click Add Transaction. The
Spend Money window or the Receive Money window
(depending upon the type of transaction you are adding)
appears. Enter the details of the transaction and record it.
The transaction will be marked as cleared.
8
Repeat step 7 for each unmatched transaction.
To import your statement
Download your statement Before you can import your
bank or credit card statement, you need to download the statement
file from your bank. Your bank’s website should provide instructions
on how to download this file. You can download OFX, QFX, QIF, and
OFC files.
NOTE :
1
Go to the Banking command center and click Bank Register.
The Bank Register window appears.
2
In the Account field, type or select the account that
corresponds to the bank or credit card statement.
3
Click Get Statement. The Open window appears.
4
Locate and select the downloaded statement file.
5
Click Open. The Get Statement window appears.
6
Click OK. The statement transactions are automatically
matched with the transactions in your company file using the
check number, date, and amount as the criteria for matching
withdrawals and deposits.
„ If there are unmatched transactions, the Unmatched
Statement Transactions window appears. Go to step 7.
„ If all your transactions match, that’s it. These transactions
will be marked as cleared in the Reconcile Accounts
window. You can ignore the rest of this procedure.
IMPORTING STATEMENTS
Match or add all transactions We recommend you
finish adding or matching every transaction in the unmatched
transaction list before you click Done. If you re-open the
statement file, the original list of unmatched transactions
reappears in the Unmatched Statement Transactions window.
CAUTION :
9
When you have finished matching and adding transactions,
click Done. A list of all the cleared transactions appears.
67
Analyzing your cash flow
You can use the Cash Flow Worksheet window to estimate your
short-term cash needs. This windows allows you to use the
information you’ve entered to create a forecast of your checking
asset account or your credit card liability account.
To review your cash flow
1
In any command center, select Cash Flow from the Analysis
list. The Cash Flow Worksheet window appears.
You can change, add, and delete information that appears in the
Cash Flow Worksheet window to better estimate your cash flow
needs.
2
Select the bank or credit card account that you want to
analyze from the Checking Account list.
3
Type the number of days for which you want to analyze your
cash needs in the Days To Look Ahead field and press TAB.
Work in the Cash Flow Worksheet doesn’t affect your
company file Changes, deletions, and additions you make in the
list are used for the purposes of the Cash Flow Worksheet window
only. The changes you make here won’t be reflected anywhere else
in the your company file.
NOTE :
The list in the middle of the window displays the transactions
your company is due to perform during the time period you
specified. Any transactions that are overdue also appear here.
If you accept the default number in the Days to Look
Ahead field without making an entry in the field and no
transactions appear, press TAB to refresh the window.
NOTE :
Information included on the Cash Flow Worksheet
information used to forecast cash needs includes:
The
„
All recorded transactions.
„
Paychecks, banking, and general journal recurring
transactions that are expected to be recorded as actual
transactions within the specified range of days or were
scheduled to be recorded as actual transactions before the
current date.
The frequency that was established in the Edit Recurring
Schedule window for each recurring transaction is used to
determine the date when the transaction should occur.
4
You can also add transactions to the list. To do this, scroll to
the bottom of the list and add transaction information in the
blank line. When you’re finished, press TAB to create a new
line, where you can enter additional transaction information.
5
Click Analyze Cash Needs.
The Cash Flow Worksheet window now lists the transactions
that appeared in the previous list with a running balance.
The information used to forecast cash needs does not include
sales and purchases recurring transactions.
68
You can change any of the information that appears in the list
to better estimate your cash flow needs.
If you want to make changes to the listed transactions, click
Return to Worksheet, make your changes and then click
Analyze Cash Needs again.
6
If you want to print the worksheet, click Print.
7
If you want to view the worksheet in Microsoft Excel, click
Excel.
8
Click Cancel to close the Cash Flow Worksheet window.
CHAPTER 4
BANKING
Sales
SALES
5
This chapter explains how to enter information about sales to your customers. You record a sale by specifying the customer’s details, the invoice
layout (item, service, professional, time billing, or miscellaneous), the status of the sale (quote, order, or invoice), and the details of the items or
services sold. This chapter also explains the various ways of sending an invoice, how to record customer payments, how to issue a customer
credit, and how to analyze all sales activities with a variety of reports and other analytical tools.
Creating a customer card
Before you can record a sale, you need to create a card for your
customer.
To create a customer card
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
2
Click New. The Card Information window appears.
3
Select Customer from the Card Type list.
4
Select the designation of the card: company or individual.
5
Type the customer name and press TAB. Additional fields
appear.
6
69
Enter a code to identify this customer in the Card ID field. For
more information, see ‘Card identification codes’ on
page 231.
7
Enter contact details for the customer.
If you want to enter more contact information, select
Address 2 from the Locations list and enter the additional
details. You can enter contact details for five locations.
8
9
Click the Card Details tab. You can enter notes about the
customer, insert a picture and assign attributes to group and
sort the card.
If you want to...
See
insert a picture
page 231
assign identifiers to the card
page 223
assign an attribute from a custom list
page 224
enter additional information in a custom field
page 230
10
The selections you make here will be used, by
default, on quotes, orders, and invoices that you
create for this customer. You can override these
selections when recording the sale.
B Tax
information
The customer’s tax information is entered here.
C Credit
terms
The credit terms you entered earlier appear here by
default. You can override them here for this
customer. The credit terms entered here are used as
the default terms for all sales to the customer, but
can be changed at any time.
Click the Payment Details tab and select the method of
payment your customer will use to pay you.
TIP : If you use the MYOB Merchant Account Service If you
intend to use the MYOB Merchant Account Service to authorize
and process credit card sales from within your MYOB software, it
is easier to add the credit card information while entering the
sale. See ‘Credit card payments using MYOB Merchant Account
Service’ on page 60.
Click the Selling Details tab and enter your selling details.
A
11
[Optional] Click the Jobs tab and create a new job for each
job you have started or are about to start for the customer.
For more information about jobs, see ‘Jobs’ on page 237.
12
[Optional] Click the History tab and type the dollar value of
the sales made prior to your conversion month. You can also
type or select the date that the contact became a customer.
13
Click OK to close the Card Information window.
B
C
70
A Selling
information
CHAPTER 5
SALES
Entering sales
You enter a sale as a quote, order or invoice.
„
„
„
A Quote records an estimated price you have quoted to a
customer, 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.
Entering a sales transaction
Complete the following steps to enter a sales transaction:
Task
An Order is a sale where no services or goods have been
delivered. While orders don’t affect your financial figures,
they do affect your committed inventory numbers. Orders
don’t create transactions unless the customer has paid you a
deposit. An order can be changed to an invoice.
An Invoice is usually created when you deliver the items or
services the customer ordered. It will update the appropriate
accounts, including the account for tracking receivables.
Invoices can be open (unpaid), closed (paid), or credit
(negative sale). An invoice can’t be changed to a quote or an
order.
You can enter a sale in:
„
the Sales window
„
the Bank Register window.
The procedure describes in this section is for entering a sale in the
Sales window, which enables you to record the full details of a
sales transaction.
Bank Register window Entering a sale in the Bank Register
window is a fast way to enter a sales transaction. However, you
can enter less detail about the sale than if you entered it in the
Sales window. For more information, see ‘Entering transactions
in the Bank Register window’ on page 54.
ENTERING SALES
See
1
Enter information about the customer
below
2
Choose the type of sale
page 72
3
Enter the items or services you are selling
page 72
4
Enter additional information about the sale
page 73
5
Complete the sale
page 74
Task 1: Enter information about the
customer
1
Go to the Sales command center and click Enter Sales. The
Sales window appears.
2
In the Customer field, type or select the customer’s name and
press TAB.
Customer credit limits and accounts on hold You
may not be able to record sales for customers who have
exceeded their credit limit or whose account has been placed on
hold. For more information, see ‘Credit control’ on page 84.
NOTE :
The terms and ship-to address shown in the Sales window are
the details recorded in the customer’s card.
71
3
Complete the fields as described in the table below:
B
A
D
C
A
If you want to change a customer’s shipping address, click
the down arrow next to the Ship to field and select another
address from the customer’s card. Alternatively, type the
address in the Ship to field.
B
Click the zoom arrow ( ) to alter the credit terms for this
sale only. Note that if you want to change the credit terms
for all future sales to this customer, you must make that
change on the Selling Details tab of the customer’s card.
C
If the customer gave you a purchase order for this
transaction, enter that purchase order number here.
D
Type the invoice number here or accept the default number.
Task 2: Choose the type of sale
In this step, choose the required status and layout for the
transaction you are creating. The default layout displayed in the
Sales window is determined by the selection you made when
setting up sales details (using the Sales Easy Setup Assistant) or
when creating the customer’s card.
1
Check if the default layout is appropriate.
There are five layouts: Service, Item, Professional, Time
Billing, and Miscellaneous. The layout determines what fields
appear on the Sales window.
To change the default layout:
a Click Layout. The Select Layout window appears.
b Select the appropriate layout and click OK.
Miscellaneous layout The Miscellaneous layout is used
only for sales where a printed form is not needed.
NOTE :
72
Select the status from the list in the top left corner of the
window: Quote, Order, or Invoice.
2
Task 3: Enter the items or services you are
selling
The scrolling list in the middle of the Sales window is where you
enter details of what you are selling. In this area you will enter
item numbers, activity ID numbers, descriptions, account
numbers (or names depending on your selection in the
Preferences window), and other information to describe the
transaction.
One row in the scrolling list is one line item of the transaction. You
can enter as many line items for a sale as you want. The fields that
appear in the scrolling list differ depending on the layout you are
using.
The following illustration briefly describes the line-item entries
you can make for a sale with an Item layout and an Invoice
status.
Item
A
B
C
D
E
F
G
H
I
J
A
Ship
The quantity to be delivered.
B
Backorder
The quantity of the item to be placed on backorder. An
order for this amount will be created automatically
when you click Record.
C
Item
Number
Press TAB and select it from your item list.
D
Description
A description of the item appears automatically. You can
change this if you want. If you want to check spelling in
this field, click Spell. For more information, see
‘Spell-check’ on page 18.
CHAPTER 5
SALES
E
Location
If you sell this item from multiple locations, select the
location where the item will be sold from.
This field appears only if you have more than one
location. For more information, see ‘Inventory
locations’ on page 154.
F
Price
The price of the item appears automatically. You can
change the price if you want.
G
Disc%
[Optional] Enter a volume discount as a percentage.
H
Total
The total price of the items is calculated automatically.
I
Job
[Optional] Type or select a job number here to assign a
line item to a job.
J
Tax
If the line item is taxable, mark the Tax column.
NOTE : Add lines, subtotals, and headers to sales transactions
You can add lines, headers, and subtotals to invoices to make it easy
to separate and subtotal different groups of line items on one
invoice. For more information, see ‘Adding and deleting transaction
lines, subtotals, and headers in sales transactions’ on page 75.
Task 4: Enter additional information
about the sale
The fields that appear at the bottom of the Sales window depend
on the type of sale you are creating.
D
The following illustration shows the line item entries for a sale
with a Service layout and an Invoice status. These fields also
appear in the Professional and Miscellaneous layouts.
A
Service
B
A
A
A
B
Description
B
C
D
Acct# or
Account
Name
The account to which to allocate the sale.
C
Amount
The amount you are charging for this sale.
D
Job
[Optional] Select a job number here to assign a line
item to a job.
E
Tax
If the line item is taxable, mark the Tax column.
ENTERING SALES
Salesperson,
Comment,
E
Description of the goods or services being sold. If
you want to check spelling in this field, click Spell.
For more information, see ‘Spell-check’ on
page 18.
H
E
Ship Via,
Promised
Date
C
F
G
Enter optional information, such as the name of the
salesperson, a comment, shipping method, and the
promised date for delivery of goods or services.
Enter text or click the search icon ( ) to choose
from the Select From List window.
B
Invoice
Delivery
Status
If you want to print or email the invoice in a batch,
select the required delivery method from the list.
C
Journal
Memo
The journal memo is generated automatically. You
can change this text 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 freight charges. Select the option to the right
of this field if tax is charged on the freight amount.
73
F
Paid Today
Type the amount of money the customer paid you
at the time of the sale or, if you are creating an
order, how much money the customer gave you as
a deposit.
G
Payment
Method
Type or select the payment method. Click Details if
you want to enter details about the payment. For
example, if you are being paid by credit card, you
can record the credit card number and expiration
date.
If you have subscribed to the MYOB Merchant
Account Service, see ‘Entering payment methods
for use with an MYOB Merchant Account’ below.
H
Tax Code
Select the tax code for this purchase.
Entering payment methods for use with an MYOB
Merchant Account
If you have subscribed to the MYOB Merchant Account Service,
note the following when completing the Payment Method field
in a sale:
Payment Method Only four payment methods are acceptable
for use with the MYOB Merchant Account Services. In order for
the Merchant Account Services to identify each payment
method, you must enter the following strings of letters in the
Payment Method field:
„
American Express: AMER or AMEX
„
MasterCard: MAST
„
Visa: VISA
„
Discover: DISC
NOTE : True debit card payments can’t be processed by the
MYOB Merchant Account Service Some types of cards can be
used for both debit and credit payments; MYOB Merchant Account
Service accepts American Express, Discover, MasterCard, and Visa
cards. If you enter a card that is both a debit and a credit card,
MYOB Merchant Account Service will process the transaction as a
credit card transaction.
True debit card payments where a PIN number is required can’t be
processed using MYOB Merchant Account Service.
For more information about the MYOB Merchant Account
Service, see ‘Processing credit card payments using MYOB
Merchant Account Service’ on page 60.
Task 5: Complete the sale
There are several ways to complete the transaction.
TIP : Save the sale as a recurring sale Click Save as Recurring. In
the Edit Recurring Schedule window, enter the necessary
information and click Save. For more information, see ‘Recurring
transactions’ on page 189.
„
If you want to record the sale without printing it, click Record
(for a sales quote, click Save Quote).
„
If you want to record the sale and create a purchase order,
click Create PO. The quote or order is recorded and the
Purchases window appears. For more information, see ‘To
create a purchase order from a sale’ on page 100.
„
If you want to record the sale, and print, send, or save it as a
PDF, complete the relevant procedure in the following table.
Method Type Both Credit Card and Debit Card are acceptable
entries for this field, but both entries will be treated as credit
cards.
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To…
Do this…
Print
Click Print and choose:
• Pre-printed Invoice to use the default sales
form.
• Select Another Form to choose a different sales
form.
Print
preview
Email
To insert a header
You can group several line items by inserting a header.
1
In the Sales window, click in the line below where the header
is to appear.
2
Click Print and choose Preview to preview the
sales form for this transaction.
Note that the transaction will be recorded before
the form is displayed.
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.
Click Send To and choose Email. Review and make
entries in the Email window and click Send. The
email, which will include a PDF (Portable
Document Format) attachment, will be sent to the
Outbox of your default email software. Send the
email from your email software.
4
Press TAB to complete the header entry.
Fax
Click Send To and choose Fax. A window from
your fax software appears. Send the fax as you
normally do.
Save as PDF
Click Send To and choose Disk. In the window that
appears, enter a name and location for the PDF file
and click Save.
To insert a subtotal
1
In the Sales window, click in the line below the items to be
subtotaled.
2
Go to the Edit menu and choose Insert Subtotal. A line
appears displaying the subtotal of the amounts that appear
above the subtotal line and below the last subtotal, if there is
one.
Adding and deleting transaction lines,
subtotals, and headers in sales
transactions
You can add and delete transaction lines, headers, and subtotals
in sales transactions.
To insert a blank line
1
In the Sales window, click in the line below where the blank
line is to appear.
2
Go to the Edit menu and choose Insert Line. A blank line will
appear in the scrolling list with the cursor positioned in the
Description column.
ENTERING SALES
To delete a blank line, line item, header, or subtotal
1
In the Sales window, click anywhere in the blank line, line
item, header, or subtotal you want to delete.
2
Go to the Edit menu and choose Delete Line.
75
Recording sales with insufficient on-hand item quantities
If you track item quantities and values, and you want to record a
sales invoice for an item with insufficient on-hand quantities, you
can:
„
build, buy, or backorder the item
„
record the sale and allow a negative on-hand item quantity
and value to be recorded for the item.
Build, buy, or backorder items
To build, buy, or backorder items in the Backorder List
window
1
Go to the Sales command center and click Enter Sales. The
Sales window appears.
2
Enter the details of the sale. For more information, see
‘Entering sales’ on page 71.
3
Click Record. If you have insufficient on-hand quantities of an
item, the Backorder List window appears.
When you attempt to record a sales invoice with an insufficient
on-hand quantity, the Backorder List window appears. In this
window, you need to build or buy the required quantity, or create
a customer sales order (backorder) for the unavailable quantity,
before you can record the sale.
Before you begin Before you can auto-build an item in the
Backorder List window, you need to set up your item details. For
more information, see ‘Auto-building items’ on page 156.
If you want to record a bill using this window, you need to enter
a default vendor for the item. For more information, see
‘Creating items’ on page 149.
This window lists items that are either out of stock or would
be as a result of recording the sale.
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4
Decide what you want to do:
To...
Do this...
Auto-build
items
1
Click in the Build column next to the item you
want to auto-build and then click Build. The
Auto-Build Items window appears.
2
Click Build Items. The Build Items window
appears.
3
Click Record to build the finished item.
1
Click in the Buy column next to the item you
want to purchase and then click Buy. The Enter
Purchases window appears.
2
Select Bill as the status from the list in the top
left corner and complete the purchase.
For information about completing the
purchase, see ‘Entering purchases’ on page 93.
1
Click in the Backorder column next to the item
you want to place on backorder.
2
Click Backorder. The Sales window reappears
with the Ship and Backorder columns adjusted.
A sales order is automatically recorded for the
item when you record the invoice.
Record a
bill
Record a
sales order
Multiple items with insufficient quantities You can
use the Backorder List window to perform the following tasks:
build, buy, or backorder. However, you can only perform one of
these tasks at a time and in the following order: build, buy, and
then backorder. For example, if you want to backorder some
items and buy others, you need to buy the required items first
and then return to this window (by clicking Record in the Sales
window again) to complete the backorder.
NOTE :
5
Complete the sale. For more information, see ‘Complete the
sale’ on page 74.
Allow negative on-hand item quantities
If you want, you can set a preference to allow the recording of
sales with insufficient on-hand quantities. With this preference
set, the sale of an item that is not in stock results in a negative
on-hand item quantity and value.
NOTE : This feature affects your inventory reporting Allowing
negative item amounts to be recorded in your inventory affects the
reporting of inventory values and cost of goods sold. This feature
may not be suitable for some businesses. Consult your accountant,
financial adviser, or MYOB partner before setting this preference.
When you record the sale of an item with insufficient on-hand
quantities, an estimated item cost is recorded for the sale. The
estimated cost used depends on the item information available,
as described in the following table.
Cost type
Description
Average
cost
Average cost is used if you have sufficient on-hand stock
for which an average price can be determined. For
example, if you have ten units of an item on-hand, but
make a sale for 12 units, average cost is based on the
value of the ten units in stock.
Last Cost
Last cost is used if the average cost in unavailable. For
example, if you have purchased an item before but
currently have none on-hand, the last purchase price is
used.
Standard
Cost
Standard cost is used if you have never purchased an item
before, and you have entered a standard cost in the item
information card.
Zero cost
Zero cost is used if you have never purchased the item
before and you select this option when recording the sale.
When you record a purchase to replenish the items, a journal
entry automatically records the price variation between the
estimated cost and the actual cost, if there is one.
RECORDING SALES WITH INSUFFICIENT ON-HAND ITEM QUANTITIES
77
To allow the recording of sales with insufficient
on-hand quantities
1
2
Click the Inventory tab and select the Allow the Sale of
Items with Insufficient On-Hand Quantities option.
3
Make any changes you want to make in the window. For
example, you may want to change the transaction date to
today’s date.
4
Click Record. The new order or invoice is created.
Go to the Setup menu and choose Preferences. The
Preferences window appears.
Changing the status of a sale
The status of the following sale types can be changed.
Sale type
Can be changed to…
See
Quote
•
•
order
invoice
below
Order
•
invoice
below
Invoice
The status of an invoice cannot be changed.
If you want to change several orders simultaneously, see ‘To
change several orders to invoices’ on page 79.
The original quote will remain in the Sales Register window
unless you have indicated in the Sales view of the
Preferences window that you want quotes to be deleted
once they are changed to orders or invoices.
To change an order to an invoice
1
Go to the Sales command center and click Sales Register.
The Sales Register window appears.
To change a quote to an order or invoice
1
Go to the Sales command center and click Sales Register.
The Sales Register window appears.
2
Click the Orders tab and select the order you want to
change.
2
Click the Quotes tab and select the quote you want to
change.
„ If you want to change the quote to an order, click Change
to Order.
„ If you want to change the quote to an invoice, click
Change to Invoice.
3
Click Change to Invoice. The Sales window appears
displaying the sale with an Invoice status.
4
Make any changes you want to make. For example, you may
want to change the transaction date to today’s date.
5
Click Record to record the invoice.
The Sales window appears displaying the sale with an Order
or Invoice status.
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3
Click To Do List from any command center. The To Do List
window appears.
Select the orders you want to change to invoices by clicking
in the select column ( ).
4
Click the Orders tab to display a list of all your orders. If you
want to view the details of a specific order, click the zoom
arrow ( ) to the left of the customer’s name.
Click Record as Actual. A window appears, requiring you to
enter a date for the selected transactions. This is the date that
the transactions will be recorded in your sales journal.
5
Enter a transaction date and click OK.
To change several orders to invoices
1
2
Reviewing your sales information
There are several tools that you can use to review your sales
information.
Tool
Description
See
To Do List
The To Do List displays all open sales,
recurring sales, and orders sorted by
overdue dates.
below
Analyze
Receivables
The Analyze Receivables window displays
aging information for all open invoices.
page 80
Analyze Sales
The Analyze Sales window provides a
graphical snapshot of your sales activities.
page 80
Sales reports
Sales reports help you keep track of your
sales activities.
page 80
Sales history
History lets you view seven years of sales
history for an item, customer or employee.
page 80
Sales Register
The Sales Register window gives you a
complete picture of your sales
activity—open and closed invoices, orders,
quotes, returns, credits, and so on.
page 184
Find
Transactions
Find Transactions helps you find individual
sales transactions quickly.
page 184
Transaction
Journal
The Transaction Journal lists journal
entries of your sales and other transactions.
page 186
REVIEWING YOUR SALES INFORMATION
To view a list of all unpaid sales sorted by days
overdue
1
Click To Do List in any command center. The To Do List
window appears.
2
Click the A/R tab. A list of all unpaid sales appears.
The Overdue column shows the number of days an invoice is
overdue. (A negative number in the Overdue column
indicates that the payment is not yet due.) The number of
days an invoice is overdue is calculated by checking the
original date of the invoice, comparing it to today’s date and
looking at the customer’s credit terms.
3
If you want to send a collection letter to customers with
overdue payments:
a Select those customers by clicking in the select column
( ) next to the customer’s name.
b If you have installed OfficeLink, click Mail Merge to create
the letter directly in your word processor. Otherwise, click
Disk, choose a file format and click Save.
79
To analyze your receivables
1
In any command center, select Receivables from the Analysis
list. The Analyze Receivables window appears.
2
Click Filters and choose the time periods and any other
criteria you want to apply.
3
Click OK. The information you selected appears in the
Analyze Receivables window.
To analyze your sales activities
The Analyze Sales window provides various illustrations—as
graphs or as lists—of your sales activities.
To view sales reports
There are several sales reports that can help you track your sales
activities. For example, you can run an Aged Receivables
Summary report to view your customers’ current balances sorted
by aging periods. The Sales Item Summary report shows you
which inventory items are selling best. The Referral Source
report is useful for finding out which referral source is bringing
your business the most money.
1
Go to the Reports menu at the top of the screen and choose
Index to Reports. The Index to Reports window appears.
2
Click the Sales tab. Select from the list of available sales
reports.
1
In any command center, select Sales from the Analysis list.
The Analyze Sales window appears.
For information on displaying, customizing, and printing your
reports, see Chapter 13, ’Reports,’ starting on page 195.
2
Click Filters and choose the sales figures, time periods, and
other criteria you want to apply.
To view sales history
3
Click OK. The information you selected appears in the
Analyze Sales window.
You can view sales history for an item, a customer, or an
employee.
4
Select the display options in the Analyze Sales window to
view charts showing your sales activities.
1
Display the Item Information window for an item or the
Card Information window for a customer or an employee.
2
Click the History tab.
The History view displays a total of seven years sales history
for the item or card: the five years preceding the current fiscal
year (as displayed in the Company Information window),
the current fiscal year, and the next year.
Employee’s sales history To record an employee’s sales
history, you need to select that employee as the salesperson
when you record a sale in the Sales window.
NOTE :
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Receiving payments
When customers make payments against invoices, you record the
payments in the Receive Payments window. You can record the
payments against one or more of the customer’s outstanding
invoices. If you don’t want to create an invoice for a customer,
you can enter the customer payment in the Receive Money
window. See ‘Receiving money’ on page 49.
The options for recording receipts and invoice payments are
summarized in the following diagram.
You can also record payments from your customers in the Bank
Register window. If you have several customer payments and
don’t want to record detailed information (such as payment
methods and discounts) for each payment, the Bank Register
window can save you time. Note that when you use the Bank
Register window for customer payments, the entire payment is
automatically allocated to the oldest invoices first.
You cannot use the Bank Register window to enter credit card
payments using the MYOB Vendor Payments service. For more
information, see ‘Entering transactions in the Bank Register
window’ on page 54.
Customer payments at point of sale If customers make
payments when purchasing merchandise or services and you are
issuing them an invoice, you can enter the payment amount in the
Paid Today field of the invoice. See ‘Enter additional information
about the sale’ on page 73.
NOTE :
MYOB Merchant Account Service If you subscribe to the
MYOB Merchant Account Service, you can authorize and process
credit card payments when you receive invoice payments. For
more information, see ‘Processing credit card payments using
MYOB Merchant Account Service’ on page 60.
RECEIVING PAYMENTS
81
To record payments against invoices
1
Go to the Sales command center and click Receive
Payments. The Receive Payments window appears.
2
Select the account you want to deposit the payment to.
„ Deposit to Account. Select this option to select the
required bank account.
„ Group with Undeposited Funds. Select this option if you
want to include the payment in a bank deposit. For more
information about undeposited funds and preparing bank
deposits, see ‘Bank deposits’ on page 51.
3
A
4
Type the amount received.
5
If you want to record the payment method, select the
method in the Payment Method field. Click Details if you
want to enter further details about the payment. For
example, if you are being paid by credit card, you can record
the credit card number and expiration date.
6
7
82
Change the memo text 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
make sure you don’t use duplicate IDs.
In the scrolling list in the bottom half of the window, indicate
which sales are covered by the payment by entering amounts
in the Amount Applied column. If the customer is paying a
deposit for an order, the Status column will show Order.
D
A
Discount
If you intend to offer an early-payment discount for
a sale, assign the discount to the appropriate
invoice in this column. Note that you won’t be able
to assign a discount to an invoice that is not being
settled in full. If you want to give the customer a
discount, you can give them a customer credit. See
‘Customer credits’ on page 87.
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 is to pay finance charges,
type the finance charge amount here. See ‘Finance
charges paid by customers’ on page 86 for more
information.
D
Out of
Balance
The amount you apply in the Amount Applied
column will accumulate in the Total Applied field.
The Total Applied amount (plus finance charges)
must equal the Amount Received value and the
Out of Balance amount must be zero before you
can record the transaction.
In the Customer field, type or select the customer’s name.
If you have no record of any sales to this customer, a message
window appears. Click OK and ensure you’ve selected the
correct customer.
B C
If a customer overpays, the full amount should still be entered
in the Amount Received field and in the Amount Applied
column. When you record the payment, a credit invoice for
the overpaid amount is created automatically. This can either
be refunded to the customer or applied to a future invoice.
For more information, see ‘Settling credits’ on page 88.
8
[Optional] If you use the MYOB Merchant Account Service,
you can process a credit card payment using the service. For
more information, see ‘Processing credit card payments using
MYOB Merchant Account Service’ on page 60.
9
Click Record to record the customer payment.
CHAPTER 5
SALES
Printing payment receipts
For each cash receipt transaction you record, a corresponding
receipt can be printed. Receipt transactions can be recorded
using the following windows:
„
Bank Register
„
Receive Money
„
Receive Payments
„
Sales (New Invoice and New Order using Paid Today)
„
Settle Returns & Debits (Receive Refund view).
Receipts cannot be printed for:
„
reversed receipt transactions
„
voided receipts
„
bank transactions such as bank deposits or interest earned.
Payment receipts correspond directly to receipt transactions.
That is, when you record a receipt transaction, the information
you entered in the transaction can be printed on a payment
receipt. Because of this relationship, if you change, reverse, or
remove a receipt transaction, the payment receipts that have
been printed may no longer be valid.
To print payment receipts
1
Go to either the Sales or Banking command center and click
Print Receipts. The Review Receipts Before Printing
window appears.
2
If you print receipts on preprinted stationery, type the
number of the first receipt in the Number of First Receipt in
Printer field.
3
Type the number of receipts you want to print in the Print
field.
4
If you want to filter the information to be displayed on the
customer receipt, click Advanced Filters. For more
information, see ‘Advanced filters’ on page 209.
5
Click in the select column (
to print.
6
Click Print.
) next to each receipt you want
For information about printing and customizing forms, see
‘Sending forms’ on page 206 and ‘Customizing forms’ on
page 210.
If you subscribe to the MYOB Merchant Account Service, you can
print a credit card receipt in the Processed Receipt window after
a credit card payment has been approved.
PRINTING PAYMENT RECEIPTS
83
Credit control
In your MYOB software, you can control credit by:
„
setting and enforcing customer credit limits, see ‘Credit
limits’ below
„
placing customer accounts on hold, see ‘Credit holds’ on
page 85
„
adding finance charges to customer statements, see ‘Finance
charges paid by customers’ on page 86.
4
Click the Selling Details tab.
5
Click Credit Limit & Hold. The Credit Limit & Hold window
appears.
6
Type the customer’s credit limit in the Credit Limit field.
7
Click OK. The Card Information window reappears.
8
Click OK to return to the Cards List window.
Credit limits
A credit limit is the maximum amount of credit you allow a
customer to charge to their account. You can set a default credit
limit for all new customers using the Sales Easy Setup Assistant
(see page 35), or set a specific credit limit for a single customer.
If you want to enforce credit limits, you can set preferences to:
„
„
warn users before recording a sale that will exceed a
customer’s credit limit
prevent certain users from recording a sale that will exceed a
customer’s credit limit. When you use this preference, you set
an override password to allow approved users to record the
sale.
To receive a warning when a customer exceeds the
credit limit
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
Click the Sales tab.
3
Select the If the Credit Limit is Exceeded on Sale preference
and choose Warn and Continue from the list.
4
Click OK.
To set or change the credit limit for a single customer
1
2
3
84
Go to the Card File command center and click Cards List.
The Cards List window appears.
Click the Customer tab and select the customer for whom
you want to set a credit limit.
Click Edit. The Card Information window appears.
CHAPTER 5
SALES
To prevent the recording of a sale when a customer
exceeds the credit limit
1
Log in to your company file as the Administrator.
2
Go to the Setup menu and choose Preferences. The
Preferences window appears.
3
Click the Sales tab.
4
Select the If the Credit Limit is Exceeded on Sale preference
and select Prevent Unless Overridden from the list. The
Credit Limit Override Password window appears.
5
Type the override password and password confirmation.
6
Click OK. The Preferences window reappears.
Changing the credit limit override password You can
change the credit limit override password in the Credit Limit
Override Password window (choose Preferences from the
Setup menu, click the Sales tab and then click Set Override).
Credit holds
You can place a credit hold on a customer’s account to prevent
further sales being made to the customer. For example, you may
want to place a customer on credit hold when the customer’s
account is overdue.
To place a customer on credit hold
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
2
Click the Customer tab and select the customer whom you
want to place on credit hold.
3
Click Edit. The Card Information window appears.
4
Click the Selling Details tab.
5
Click Credit Limit & Hold. The Credit Limit & Hold window
appears.
6
Select the Place this customer on Credit Hold option.
7
Click OK. The Card Information window reappears.
8
Click OK to return to the Cards List window.
NOTE :
7
Click OK to close the Preferences window.
NOTE : Recording sales to customers on credit hold To record a
sale to a customer on credit hold, you need to remove the credit
hold. To do this, deselect the Place this customer on Credit Hold
option in the Credit Limit and Hold window on the customer’s
card.
CREDIT CONTROL
85
Finance charges paid by customers
Finance charges are amounts added to an outstanding balance as
a penalty for late payment. A finance charge is added to a
customer’s statement. The amount paid by a customer to cover
the charge is then recorded in the Receive Payments window.
How finance charges are calculated For each open invoice,
your MYOB software calculates its due date using the terms
specified in the Selling Details tab of the Card Information
window. The overdue balance is then increased by 1/30th of the
monthly charge for late payment for every day it is overdue.
The monthly charge is calculated by multiplying the amount
overdue by the % Monthly Charge for Late Payment value you
specified in the customer’s card.
If, during the overdue period, the customer makes a partial
payment, the finance charge is adjusted accordingly.
Setting up finance charges
Before you can apply finance charges, you need to specify an
account for tracking late-payment charges. Go to the Setup
menu, choose Linked Accounts and then Sales Accounts. Select
the I assess charges for late payment option and select an
income account to record the late payment charges.
Also, you need to set the percentage you will be charging for late
payments in the % Monthly Charge for Late Payment field of
the Selling Details tab of each customer card.
The finance charges payable by your customers only appear on
their statements, so you may want to keep copies of the
statements sent to customers.
Recording finance charges
When your customer pays the late-payment charge, type the
amount in the Finance Charge field of the Receive Payments
window. For more information, see ‘Receiving payments’ on
page 81.
Although the history of finance charges is not tracked, you can
perform an account inquiry (using Find Transactions) on the
income account you have set up to record late charges.
Deleting finance charges
When you enter a finance charge in the Receive Payments
window, two transactions are recorded—the full customer
payment, including the finance charge, is recorded in the
receipts journal and a transaction for the finance charge is
recorded in the sales journal.
Therefore, if you want to delete a finance charge payment, you
must delete both transactions. If only one entry is deleted, the
Receivables Reconciliation Summary report may show an
out-of-balance amount equal to the finance charge. When you
delete one of the entries, you are reminded to delete the other
entry for the finance charge. Note that a warning appears even
though you may have already deleted the corresponding invoice
or payment.
Adding finance charges to customer statements
To show the finance charge owed by customers on their
statements, select the Add Finance Charges to Amount Due
option in the Advanced Filters window. For more information
about customer statements, see ‘Send customer statements’ on
page 252.
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Customer credits
A customer credit is money that you owe to a customer.
To manually create a credit for a non-item sale
To process a customer credit, you first need to record a credit
transaction and then record the settlement of the credit (for
example, by printing a refund check for your customer).
Use this method if you want to credit the customer for part of a
non-item sale.
Create an account for tracking sales returns Before you
manually create a credit of this type for the first time, you may want
to create an account for tracking returns and allowances, if one does
not already exist in your Accounts List. For more information about
creating accounts, see ‘Set up accounts’ on page 26.
TIP :
Recording credits
You can create a customer credit note in the following ways:
„
„
Reverse an existing sale. Use this method if the customer
has paid for the entire sale.
1
Manually create a credit. Use this method if you are
crediting the customer for part of a sale.
Go to the Sales command center and click Enter Sales. The
Sales window appears.
2
Type or select the customer you are creating a credit for.
3
Select the Invoice status from the list in the top left corner of
the window.
4
Click Layout and choose Miscellaneous, then click OK.
5
In the Description column, enter a description of the credit
for your records.
6
In the Account column, select the account to be credited.
This is the income account you use to track sales returns and
allowances.
To reverse a sale
To reverse an invoice, the transaction must be unchangeable,
that is, the Transactions CAN’T be Changed; They Must Be
Reversed option must be selected in the Security tab of the
Preferences window.
1
Find and open the invoice. For more information finding
invoices, see ‘Finding a transaction’ on page 183.
2
Go to the Edit menu and choose Reverse Sale. A credit note
appears in the Sales window. Note that the invoice amount is
a negative amount.
3
If you want, you can make a some changes to the credit note
(such as changing the date and memo), but you can’t change
the accounts, amounts and quantities that are associated
with the credit.
4
Click Record Reversal. A customer credit appears in the Sales
Register window.
CUSTOMER CREDITS
87
7
In the Amount field, type the amount of the credit as a
negative amount.
6
8
Click Record. A customer credit appears in the Sales Register
window.
To manually create a credit for an item sale
Use this method if you want to credit the customer for part of an
item sale.
1
88
Go to the Sales command center and click Enter Sales. The
Sales window appears.
Click Record. A customer credit appears in the Sales Register
window.
Settling credits
You can choose to settle a customer credit in the following ways.
„
Apply the credit to an open invoice. Applying the credit to
one or more of the customer’s open invoices reduces the
amount the customer owes you.
„
Record a refund. If the customer does not have any open
invoices, you can record a refund payment for the amount of
the customer credit.
2
Type or select the customer you are creating the credit for.
3
Select Invoice from the list in the top left corner of the
window.
To apply a customer credit to an open invoice
4
Click Layout and choose Item, then click OK.
1
5
In the Ship column, type the number of items being returned
as a negative number. The costs of the items appears as a
negative amount.
Go to the Sales command center and click Sales Register.
The Sales Register window appears.
2
Click the Returns & Credits tab. A list of customer credits
appears.
CHAPTER 5
SALES
3
4
5
If the credit you want to settle does not appear, select
Customer from the Search By list to display a credit for a
particular customer. Type or select the customer’s name in
the adjacent field. A list of credits for that customer appears.
To record a refund payment
1
Go to the Sales command center and click Sales Register.
The Sales Register window appears.
Select the credit you want to apply and click Apply to Sale.
The Settle Returns & Credits window appears, listing all
open invoices assigned to the customer.
2
Click the Returns & Credits tab. A list of customer credits
appears.
3
If the credit you want to settle does not appear, select
Customer from the Search By list. Type or select the
customer’s name in the adjacent field and then press TAB. A
list of credits for that customer appears.
4
Select the credit you want to refund and click Pay Refund. A
refund check for the amount of the credit appears in the
Settle Returns & Credits window.
5
In the Account field, type or select an account.
6
If required, change other information in the window, such as
the transaction date.
7
If you are paying by check and you have already written it,
select the Check Already Printed option.
8
Specify how you want to send a payment notification by
selecting a delivery option from the Payment Notification
Delivery Status list.
9
If you are recording a refund payment to a credit card and
you subscribe to the MYOB Merchant Account Service:
a Select the credit card in the Payment Method field.
b Click Details.
c Enter all the credit card details: card number, expiration
date, name, and so on.
d Click Authorize to submit the credit card payment for
authorization via the MYOB Merchant Account Service.
Enter the amounts you want to apply to one or more open
invoices in the Amount Applied column.
If the Apply Customer Payments Automatically to Oldest
Invoice First preference is set, amounts will appear next to
the oldest invoices in the Amount Applied column. However,
you can apply the credit amount to any one transaction or
you can divide it among many transactions in the list. Note
that the total amount you apply in the Amount Applied
column must equal the amount that appears in the Credit
Amount field.
6
7
If you want to apply part of a customer credit to any unpaid
finance charges they have accrued, enter an amount in the
Finance Charge field.
When the payment transaction is finalized, the Settle
Returns & Credits window reappears. For more information,
see ‘Credit card payments using MYOB Merchant Account
Service’ on page 60.
Click Record to apply the credit.
10
CUSTOMER CREDITS
Click Record.
89
Dealing with a vendor who is also a customer
If your business sells goods and services to a business from which
you also make purchases, you need to record the transactions
using a separate customer and vendor card. You can then record
a contra payment to offset the receivable and payable amounts.
c Type the amount that you need to offset against an
invoice.
2
Before you can record contra payments, you need to create a
bank account called Contra Suspense. For information about
creating accounts, see ‘Set up accounts’ on page 26.
To record contra payments
1
Record a payment from the customer.
a In the Receive Payments window, type or select the
Contra Suspense account in the Deposit to Account field.
b In the Customer field, type the customer’s name or select
it from the list.
Record a payment made to the vendor
a In the Pay Bills window, type or select the Contra Suspense
account in the Pay from Account field.
b In the Vendor field, type or select the vendor’s card.
c Type the amount that you need to offset against a
purchase.
After these entries are made, your bank accounts will not have
been affected; yet the receivable and payable accounts have
been reduced. The Contra Suspense account balance should be
zero.
Accounting for bad debts
When you know that a debt will not be recovered, you need to
write it off.
Before writing off a bad debt, create a Bad Debt expense account
in your accounts list. For information about creating accounts,
see ‘Set up accounts’ on page 26.
To write off a bad debt
90
1
Go to the Sales command center and click Enter Sales. The
Sales window appears.
2
Click Layout. The Select Layout window appears.
3
Click Miscellaneous and then click OK.
4
In the Customer field, type or select the customer’s name.
5
In the Description field, type a description of the transaction.
6
In the Acct# field, type or select the account for Bad Debts.
7
If you account for bad debts by posting a provision to an asset
account (for example, the Provision for Bad Debts asset
account), you can type or select that account.
8
In the Amount field, type the bad debt amount as a negative
number.
9
Click Record.
10
In the Settle Returns & Credits window, apply the credit
against the original open invoice. For more information, see
‘Customer credits’ on page 87.
CHAPTER 5
SALES
Purchases
PURCHASES
6
This chapter explains how to enter information about your purchases. You record a purchase by specifying the vendor details, the purchase form
layout (item, service, professional, or miscellaneous), status of the purchase (quoted, ordered, received, or billed), and details of the purchased
items or services.
This chapter also explains how to pay your vendors for these purchases, how to deal with vendors who owe you money (settling a vendor debit),
and how to review and analyze your entire purchasing activity with a variety of reports and analytical tools.
Creating a vendor card
Before you can record a purchase order, you need to create a card
for your vendor.
6
To create a vendor card
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
2
Click New. The Card Information window appears.
3
Select Vendor from the Card Type list.
4
Select the designation of the card: company or individual.
5
Type the name of the vendor and press TAB. Additional fields
appear.
91
Enter a code to identify this vendor in the Card ID field. For
more information, see ‘Card identification codes’ on
page 231.
7
Enter contact details for the vendor.
If you want to enter more contact information, select
Address 2 from the Locations list and enter the additional
details. You can enter contact details for five locations.
8
9
Click the Card Details tab. You can enter notes about the
vendor, insert a picture, and assign attributes to group and
sort the card.
If you want to...
See
insert a picture
page 231
assign identifiers to the card
page 223
assign an attribute from a custom list
page 224
enter additional information in a custom field
page 230
Click the Buying Details tab and enter your buying details.
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 Tax
information
Enter the vendor’s tax information here. If you
are creating a card for a 1099 vendor, see
C Credit terms
The credit terms you entered earlier appear
here by default. You can override them here for
this vendor. The credit terms entered here are
used as the default terms for all purchases from
the vendor, but can be changed at any time.
10
If you pay this vendor using MYOB Vendor Payments, click
Payment Details and enter the vendor’s banking details. For
more information, see ‘Set up MYOB Business Services’ on
page 43.
11
[Optional] Click the History tab and type the dollar value of
the purchases made prior to your conversion month. You can
also type or select the date that the contact became a vendor.
12
Click OK to close the Card Information window.
A
B
C
92
CHAPTER 6
PURCHASES
Entering purchases
You can enter a purchase as a quote, order, receive item, or bill.
„
You can enter a quote to store an estimate or quote you
received from one of your vendors. A quote has no impact on
your inventory levels and can be changed to an order or a bill
when you are ready to purchase.
„
An order is a purchase where no service or item has been
received. While orders do not affect your financial figures,
they are included in your inventory reports. Orders don’t
create transactions unless you have paid a deposit to the
vendor. An order can be changed to a bill but not to a quote.
„
You can use a receive item purchase to record the receipt of
items you have ordered but have not yet billed for. When you
record items received, the item is added to your inventory
and the cost of the item is added to an accrual account for
inventory items until you record a bill for it.
An account payable transaction is not recorded at this time.
You can only record a received transactions in the item layout,
and only against an order.
„
A bill is usually created when you receive the items or services
you ordered and are required to pay the vendor (that is, you
have been charged for the purchase). Recording a bill will
update the appropriate accounts, including the account for
tracking payables. Bills can be open (unpaid), closed (paid),
or debit (negative purchase). A bill cannot be changed to a
quote or an order.
Bank Register window Entering a purchase in the Bank
Register window is a fast way to enter a purchase transaction.
However, you can enter less detail about the purchase than if you
entered it in the Purchases window. For more information, see
‘Entering transactions in the Bank Register window’ on page 54.
NOTE : Create a purchase order in the Sales window You can
also create a purchase order in the Sales window when you enter a
sales quote or sales order. For more information, see ‘Creating a
purchase order from a sale’ on page 100.
Entering a purchase transaction
Complete the following steps to enter a purchase transaction:
Task
See
1
Enter information about the vendor
page 94
2
Choose the type of purchase
page 94
3
Enter the items or services you are purchasing
page 94
4
Enter additional information about the
purchase
page 95
5
Complete the purchase
page 96
You can enter a purchase in:
„
the Purchases window
„
the Bank Register window.
The purchases procedure described in this section is for entering
purchases in the Purchases window, which allows you to record
full details about a transaction.
ENTERING PURCHASES
93
Task 1: Enter information about the
vendor
1
Go to the Purchases command center and click Enter
Purchases. The Purchases window appears.
2
In the Vendor field, type or select the vendor’s name.
The terms shown in the Purchases window are the terms
recorded in the vendor’s card.
3
Complete the fields as described in the table below:
A
A
Terms
B C
Click the zoom arrow ( ) to alter the terms for
this purchase only. If you want to change the
credit terms for all future purchases to this vendor,
you must make that change on the Buying
Details tab of the vendor’s card.
B
Purchase #
Type the purchase number here.
C
Vendor Inv. #
If the vendor gave you an invoice number for the
purchase, enter it here.
Task 2: Choose the type of purchase
Choose the status and layout for the purchase. The default layout
displayed in the Purchases window is determined by the
selections made when you set up purchase details (using the
Purchases Easy Setup Assistant) or when you created the vendor’s
card.
1
Task 3: Enter the items or services you are
purchasing
The scrolling list in the middle of the Purchases window is where
you enter details of what you are buying. In this area, you will
enter item numbers, descriptions, account numbers (or account
names, depending upon your selection in the Preferences
window), and other information about your transaction.
One row in the scrolling list is one line item of the transaction. You
can enter as many line items for a purchase as you want. The
fields that appear in the scrolling list differ according to the type
of purchase you are creating.
The following illustration shows the fields for a purchase with an
Item layout and a Bill status.
Item
Bill
A B
C
D
E
F
G
H
I
J
K
A
Bill
Type the quantity to be billed.
B
Received
This field is display-only. It displays the quantity of
items received. For more information, see ‘Receiving
items without a bill’ on page 97.
C
Backorder
Type the quantity of the item to be placed on
backorder. An order for this amount will be created
automatically when you click Record.
D
Item
Number
Press TAB and select an item from your item list.
E
Description
A description of the item appears automatically. You
can change this if you want. If you want to check
spelling in this field, click Spell. For more information,
see ‘Spell-check’ on page 18.
Check whether the default layout is appropriate.
There are four layouts to choose from: service, item,
professional, and miscellaneous. To change the layout:
a Click Layout. The Select Layout window appears.
b Choose the layout you want to use and click OK.
94
Select the status from the list in the top left corner of the
window: Quote, Order, Receive Item, or Bill. Note that
Receive Item only appears for the Item layout.
2
CHAPTER 6
PURCHASES
F
Location
If you store this item in multiple locations, select the
location where the item will be received. For more
information about locations, see ‘Inventory locations’
on page 154.
G
Price
If you have purchased the item before or you have
entered a standard cost in the Buying Details tab of
the Item Information window, the price of the item
appears automatically. You can change this if you
want.
H
Disc%
Type a volume discount as a percentage.
I
Total
The total price is calculated automatically.
J
Job
[Optional] Select a job number here to assign a line
item to a specific job. For more details, see ‘Jobs’ on
page 237.
K
Tax
If the item is taxable, click the Tax column.
The following illustration shows the fields for purchase with a
Service layout and a Bill status. These fields also apply to the
Professional and Miscellaneous layout.
Service
A
B
C
Description
A
B
C
D
Job
[Optional] Select a job number here to assign the line
item to a specific job. For more details, see ‘Jobs’ on
page 237.
E
Tax
If the item is taxable, click the Tax column.
NOTE : Add lines, subtotals, and headers to purchases You can
add lines, headers, and subtotals to purchases to make it easy to
separate and subtotal different groups of line items on one bill. For
more information, see ‘Adding and deleting lines, subtotals, and
headers to purchases’ on page 96.
Task 4: Enter additional information
about the purchase
The fields that appear at the bottom of the Purchases window
differ, depending on the type of purchase you are creating.
A
D
E
E
A description of the service being purchased. If you
want to check spelling in this field, click Spell. For
more information, see ‘Spell-check’ on page 18.
Acct # or
Account
Name
The account to assign to the purchase. Press TAB to
display the accounts list from which you can choose
an account. This should be an expense or cost of sales
account. You should not select your accounts
payable account for vendor purchases.
Amount
The amount you have been invoiced.
ENTERING PURCHASES
D
B
C
F
G
A
Optional fields
Enter optional details, such as a comment,
shipping method, and the date the goods or
services were promised.
B
Bill Delivery
Status
If you want to print or email the purchase in a
batch, select the required bill delivery method
from the list.
C
Journal Memo
The journal memo is generated automatically. You
can change it if you want.
D
Tax
If you want to change the tax amount of the
purchase, click the zoom arrow (
).
95
E
Freight
Enter any charges for freight. If the freight charge
is taxable, mark the checkbox.
F
Paid Today
Type an amount here to indicate how much
money you paid at the time of the purchase or, if
you are creating an order, how much money you
gave as a deposit.
G
Tax code
Select the tax code for the purchase.
To
Do this...
Email
Click Send To and choose Email. Review and make
entries in the Email window and click Send. The
email, which will include a PDF (Portable
Document Format) attachment, will be sent to the
outbox of your default email software. Send the
email from your email software.
Fax
Click Send To and choose Fax. A window from
your fax software appears. Send the fax, using your
fax software.
Save as PDF
Click Send To and choose Disk. In the window that
appears, enter a name and location for the PDF file
and click Save.
Task 5: Complete the purchase
After you have finished entering details in the Purchases window,
there are several ways you can complete the purchase.
Save the purchase as recurring. If you want, you can save
the purchase as a recurring transaction so that you can use it again
in the future. Click Save as Recurring. In the Edit Recurring
Schedule window, enter the necessary information and click Save.
For more information, see ‘Recurring transactions’ on page 189.
TIP :
„
„
96
Record the purchase. If you want to record the purchase
without printing or sending it, click Record (for a quote, click
Save Quote).
If you want to record the purchase and print, send, or save it
as a PDF, do the following:
To
Do this...
Print
Click Print. For more information about printing,
see Chapter 14, Forms, on page 205.
Print
preview
Click Print and choose Preview to preview the
purchases form for this transaction.
Note that the transaction will be recorded before
the form is displayed.
Adding and deleting lines, subtotals, and
headers to purchases
You can add lines, headers, and subtotals to purchase
transactions.
To insert a blank line
1
In the Purchases window, click in the line below where the
blank line is 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.
1
In the Purchases window, click in the line below where the
header is to appear.
2
Go to the Edit menu and choose Insert Header. A blank line
will appear in the scrolling list with the cursor positioned in
the Description column.
CHAPTER 6
PURCHASES
3
Type the text for the header. The text appears in gray.
4
Press TAB to complete the entry.
To insert a subtotal
1
In the Purchases window, click in the first line below the
items to be subtotaled.
2
Go to the Edit menu and choose Insert Subtotal. A line
appears displaying the subtotal of the individual amounts
that appear above the subtotal line and below the last
subtotal, if there is one.
To delete a blank line, line item, header, or subtotal
1
In the Purchases window, click anywhere on the blank line,
line item, header, or subtotal you want to delete.
2
Go to the Edit menu and choose Delete Line.
Receiving items without a bill
If you receive items from a vendor and have not been billed for
them, you may not know the actual purchase price of the items.
To re-sell the items, however, you need to add them to your
on-hand inventory. But, as you don’t know the amount payable,
you shouldn’t record an amount owed to the vendor at this time.
Instead, you can record the receipt of these items using a
purchase transaction with a receive item status. When you record
a receive item purchase, you enter an estimated purchase
amount, which is then allocated to an accounts payable accrual
account. Your accounts payable is not affected at this time.
Later, when your vendor bills you for the items, you can record a
bill with the actual purchase amount. When you record the bill,
the actual purchase amount is allocated to your accounts payable
and the estimated amount is removed from the accrual account.
Set up an accrual account for items
received without a vendor bill
When you record a purchase for items received without a bill, you
need to allocate the anticipated purchase amount to an accounts
payable or inventory accrual account.
If the account does not exist, you need to create it. The account
should be a liability account named, for example,
AP Accrual - Inventory. For information on creating an account,
see ‘Set up accounts’ on page 26.
Before you can allocate transactions to this account, you need to
make it the default linked account for items received without a
vendor bill.
Before you can record items received without a vendor bill, you
need to set up the accrual account for them.
RECEIVING ITEMS WITHOUT A BILL
97
To link an account for items received
1
Go to the Setup menu, choose Linked Accounts and then
Purchases Accounts. The Purchases Linked Accounts
window appears.
2
Select the I can receive items without a Vendor bill option.
3
In the Liability Account for Item Receipts field that appears,
type or select the inventory accrual account.
4
Click OK.
Record items received without a bill
You need to record items received against a vendor purchase
order. If the order already exists, you can record the items
received against the order. If no order exists, you can create one
when you record the items received.
5
In the Receive field, type the item quantity received.
6
If you keep items at more than one location, type the location
where you received the items in the Location field, or select it
from the list. Note that the Location field only appears if you
have set up multiple locations.
7
Click Record. The items are recorded in your inventory and
the original order is updated with the number of items
received.
8
If the total number of items in the Receive and To Date
columns of an item receipt is greater than the quantity in the
Ordered column, a message appears. You can:
„ Update order: If you choose to update the order, your
original order will be updated by the difference between
the quantity of the original order and the total received
(the quantities in the Receive column plus the quantity in
the To Date column).
„ New order: If you choose to create a new order, a new
order will be created. The quantity of items listed in the
new order will equal the difference between the amount of
the original order and the total received (the quantities in
the Receive column plus the quantity in the To Date
column).
„ Cancel: If you choose to cancel, you will return to the
Receive Item window without updating or creating any
orders.
To record items received against an order
You can record items received against an order in the Purchases
window or from the Purchases Register window.
98
1
Go to the Purchases command center and click Purchases
Register. The Purchases Register window appears.
2
Click the Orders tab.
3
Find the required order and select it.
4
Click Receive Items. The Purchases window appears with
the Receive Item status.
CHAPTER 6
PURCHASES
9
When you receive the vendor’s bill, convert the order to a bill.
For more information, see ‘Changing the status of a purchase’
on page 101.
To create an order when you record items received
1
Go to the Purchases command center and click Enter
Purchases. The Purchases window appears.
Recording items received from the Inventory
command center You can also record items received by
clicking Receive Items from the Inventory command center.
The Purchases window appears with the Receive Item purchase
status.
5
Enter the purchase date and your order number.
6
In the Ordered field, type the quantity you ordered. This can
be more than the quantity received.
7
In the Received field, type the quantity received.
8
In the Item Number field, type or select the item.
9
If you keep items at more than one location, type or select the
location where you received the items. Note that the
Location field only appears if you have set up multiple
locations.
10
If you have purchased the items before, the last cost price will
appear in the Price field by default. If you want to, enter a
different cost estimate in this field.
NOTE :
2
In the Vendor field, type or select the vendor's name.
11
3
If the Item layout does not appear:
a Click Layout. The Select Layout window appears.
b Select Item and then click OK.
Click Record. The items are recorded in your inventory and a
purchase order is created with the number of items received.
12
When you receive the vendor’s bill, you need to convert the
order to a bill. For more information, see ‘Changing the status
of a purchase’ on page 101.
4
Select Receive Item from the status list in the top left of the
window.
RECEIVING ITEMS WITHOUT A BILL
99
Creating a purchase order from a sale
If you want to order items to fulfill a sale, you can create a
purchase order using sales quote or sales order details that you
have recorded.
To create a purchase order from a sale
1
2
100
Go to the Sales command center and click Sales Register.
The Sales Register window appears.
Locate and select:
„ a quote—click the Quotes tab and select the required
quote
„ an order—click the Orders tab and select the required
order.
3
Click Create PO. The Purchases window appears with the
new purchase order displayed. The items you entered for the
sale automatically appear as line items on the purchase order.
4
Select a vendor in the Vendor field. Note, if you have
nominated a vendor for these items in the item setup, this
vendor will appear by default.
5
Enter the cost of the items in the Price column.
6
Complete the purchase order as you normally would. For
example, you may want to change the transaction date to
today’s date, or add items to the order.
7
Click Record. The new purchase order is created and the
original sales quote or order remains in the Sales Register
window.
CHAPTER 6
PURCHASES
Changing the status of a purchase
The status of the following purchase types can be changed.
Purchase type
Can be changed to…
See
Quote
•
•
order
bill
below
Order
•
bill
below
Bill
The status of a bill cannot be changed.
Quotes and orders must be changed to a bill to show as payable.
To change a quote to an order or a bill
To change an order to a bill
You can change an order to a bill in the Purchases window or
from the Purchases Register window. If you want to change
several orders to bills simultaneously, see ‘To simultaneously
change several orders to bills’ below.
1
Go to the Purchases command center and click Purchases
Register. The Purchases Register window appears.
2
Click the Orders tab.
3
Find the required order and select it.
4
Click Change to Bill. The Purchases window appears,
displaying the bill.
1
Go to the Purchases command center and click Purchases
Register. The Purchases Register window appears.
5
If you want to, you can update the information in this
window, such as changing the transaction date.
2
Click the Quote tab.
6
3
Find the required quote and select it.
Click Record. A new bill is created and the original order is
removed.
4
If you want to change the quote to:
„ an order, click Change to Order. The Purchases window
appears.
„ a bill, click Change to Bill. The Purchases window
appears.
5
If you want to, you can update the information in this
window, such as changing the transaction date.
6
Click Record. The bill or order is recorded.
The original quote will remain in the Purchases Register
window unless you have indicated in your preferences that
you want quotes to be deleted once they are recorded as
orders or bills.
CHANGING THE STATUS OF A PURCHASE
To simultaneously change several orders to bills
1
Click To Do List from any command center. The To Do List
window appears.
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 ( ) next to the order.
3
Select the orders you want to change to bills by clicking in the
select column ( ).
4
Click Record as Actual.
5
In the window that appears, enter a date for the selected
transactions. This is the date that the transactions will be
recorded in your accounts.
6
Click OK.
101
Reviewing your purchases information
There are several tools that you can use to review your purchases
information.
Tool
Description
See
To Do List
The To Do List window displays all
open purchases, recurring purchases,
and orders, sorted by due date.
below
Analyze
Payables
The Analyze Payables window
provides details of your purchase
activities.
below
Purchase
reports
Purchase reports help you keep track of
your purchase activities.
page 103
Purchase
history
History lets you view seven years of
purchase history for an item or a
vendor.
page 103
Purchases
Register
The Purchases Register window gives
you a complete picture of your
purchase activity—open and closed
purchases, orders, quotes, returns, etc.
page 184
Find
Transactions
Find Transactions helps you find
purchase transactions.
page 184
Transaction
Journal
The Transaction Journal lists journal
entries of your purchases and other
transactions.
page 186
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
102
Click To Do List in any command center. The To Do List
window appears.
2
Click the A/P tab. A list of all unpaid purchases appears.
The Overdue column shows the number of days a payable is
overdue (a negative number in the Overdue column
indicates that the payment is not yet due). The number of
days a 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.
To analyze payables
The Analyze Payables window allows you to view detailed
information about how much you owe vendors and how long
you have owed them.
This analysis is based on all bills and payments recorded in your
company file.
1
Go to the Purchases command center and click Analysis. The
Analyze Payables window appears.
2
Click Filters. The Aging Date window appears.
3
Set the filters in the Aging Date window and click OK.
4
Display the required view of the Analyze Payables window:
„ The Summary view displays all the money that you owe
vendors, totaled by vendor.
„ The Vendor Detail view displays all the money that you
owe the vendor selected in the Vendor Detail field.
„ The Purchase Detail view displays all the transactions
assigned to the purchase in the Purchase Detail field.
The information in the Analyze Payables window is based on
the entries you made in the Aging Date window, and the
selections you made in the Aging Periods fields in the
Reports & Forms view of the Preferences window.
CHAPTER 6
PURCHASES
To view purchase reports
To view purchase history
There are several purchase reports that can help you track your
purchase activity. For example, you can run a Payables
Reconciliation Summary report if you want to analyze your
payables as of a past date. The Analyze Purchases Items
Spreadsheet report shows you the inventory items on which you
are spending the most money.
You can view the purchase history for an item or a vendor.
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Click the Purchases tab. A list of purchase reports appears.
1
Display the Item Information window for an item or the
Card Information window for a vendor.
2
Click the History tab.
The History tab displays a total of seven years of purchase
history for the item or card: the five years preceding your
current fiscal year (as displayed in the Company Information
window), the current fiscal year, and the next fiscal year.
For information on displaying, customizing, and printing
your reports, see ‘Reports’ on page 195.
Paying bills
If you have recorded a purchase, you pay the vendor in the Pay
Bills window. In this window you can record the payments to one
or more of your outstanding bills.
You can also make payments to vendors in the Bank Register
window. Paying bills through the Bank Register window can
save you time if you have several purchases to pay and do not
need to record detailed information (such as discounts and
finance charges) for each payment.
PAYING BILLS
When you use the Bank Register window for making vendor
payments, the entire payment is automatically allocated to the
oldest purchase first. See ‘Entering transactions in the Bank
Register window’ on page 54.
You can pay several outstanding bills at once in the To Do List
window. For more information, see ‘To pay several bills at once’
on page 105.
103
The options for recording payments are summarized in the
following diagram.
NOTE :
Once you have recorded the payments you want to
pay using MYOB Vendor Payments, you need to prepare an
electronic payment. For more information, see ‘Preparing
electronic payments’ on page 106.
„
3
If you are paying the vendor by some other means—such
as by cash, check, credit card, or Internet banking—type or
select the account you are paying from in the Pay from
Account field.
In the Vendor field, type or select the vendor’s name.
Outstanding debits If you have an outstanding debit
with this vendor, a message may appear. You can choose to
settle the debit immediately or at a later date. See ‘Settling
vendor debits’ on page 108.
NOTE :
4
If you want to, change the memo and payment date.
5
In the scrolling list in the bottom half of the window, indicate
which bills are covered by the payment by entering amounts
in the Amount Applied column.
MYOB Vendor Payments MYOB Vendor Payments is a
subscription service you can use to pay your vendors over the
Internet directly from your MYOB software. For information
about this service, see ‘Set up MYOB Business Services’ on
page 43.
A
To pay bills
104
1
Go to the Purchases command center and click Pay Bills. The
Pay Bills window appears.
2
Specify how the payment is to be made.
„ If you are paying the vendor using MYOB Vendor
Payments, click Group with Electronic Payments.
A
Pay All
B
C
D
E
If you are settling your account in full, click Pay
All. The total payment amount appears in the
Amount field and the individual payment
amounts are applied to each open purchase.
CHAPTER 6
PURCHASES
B
C
Discount
Amount
Applied
If you take an early-payment discount for a
purchase, assign the discount to the appropriate
bill in this column. Note that the software will
not allow you to assign a discount to a bill that
you are not settling in full. If this is the case and
you want to record a discount that the vendor
has given you, you can create a vendor debit.
See ‘Recording and settling vendor debits’ on
page 107.
Type how much of the payment you want to
apply to each bill in this column.
D Finance
Charge
If part of the payment was used to pay finance
charges, type the finance charge amount here.
E
The amount 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.
Out of
Balance
8
If you want to preview the payment notification or check for
this transaction, click Print and then choose Preview Check
or Preview Payment Notification. Note that the transaction
is recorded before it is displayed.
9
If you want to print a check or payment notification now, click
Print and select the form type you want to print. Note that
the payment is recorded before it is printed.
10
Click Record.
To pay several bills at once
1
Click To Do List in any command center. The To Do List
window appears.
2
Click the A/P tab. A list of all unpaid purchases appears.
3
If you want to view details about a specific bill, click the zoom
arrow ( ) next to the bill.
4
Click in the select column (
pay.
) next to each bill you want to
Payment account The linked account for paying bills
will be used for all vendor payments made from this window.
NOTE :
6
7
If you are paying by check and have already written it, or if
you are recording a transaction that doesn’t require a printed
check (such as a petty-cash payment or Internet payment),
select the Check Already Printed option.
If you want to print or email a payment notification in a
batch, select an option from the Payment Notification
Delivery Status list.
5
Click Pay Bills.
6
In the window that appears, enter a date for the selected
transactions. This is the date that the transactions will be
recorded in your accounts.
7
Click OK and then click Close.
After you have recorded a number of payments, say, the day’s
payments, you can print or email a transaction batch. For
more information, see ‘Sending forms’ on page 206.
PAYING BILLS
105
Preparing electronic payments
If you pay your vendors using MYOB Vendor Payments, you need
to create a batch bank payment that will transfer funds as a single
transaction from the Electronic Clearing Account to the bank
account of your choice.
The single payment transaction is transmitted for approval to the
Automated Clearing House (ACH)—a collection of regional
interbank networks used to process transactions electronically.
Electronic payments dated up to and including the date you
specify in the Prepare Electronic Payments window will appear.
4
Use the Journal Memo field to record the purpose of the
transaction.
5
Select the payments you want to include in the electronic
payment by clicking in the select column ( ).
6
If the values are correct, click Process and Record to transmit
the transactions for approval.
After the transmission, an Approval or a Declined status
appears in the Status column for each transaction in the list.
For each declined transaction, a Processed Electronic
Payments window appears with a code and description of
the reason the transaction was declined, as well as a
transaction ID, date, card name, and the amount of the
transaction.
To process an electronic payment
1
Go to the Purchases command center and click Prepare
Electronic Payments. The Prepare Electronic Payments
window appears.
2
Select Pay Bills from the Select Payment By list if it is not
already selected.
7
For each declined transaction, verify the vendor’s bank
information. Correct any errors and resubmit or change the
method of payment to a printed check.
An approval status indicates only that the initial authorization
was successful. There is an additional period of 72 business
hours in which the funds are accessed, the destination
account is identified, and so on. During this period and
through this process, the potential still exists for the payment
to fail. Click Get Update to open the Online Error
Notification window where any transactions that fail during
this processing period are listed.
8
3
106
Type a date in the Date field to display unpaid checks up to
and including that date.
If the transaction appears in the Online Error Notification
window, you should reverse it and handle the payment in a
different way. You can select and reverse a transaction directly
from this window by clicking Reverse. Then open the
Prepare Electronic Payments window, select the payment
reversal (a negative number) from the list of payments by
clicking the select column ( ), and click Record Only.
CHAPTER 6
PURCHASES
Recording and settling vendor debits
A vendor debit is money that a vendor owes you.
To manually create a debit for a non-item purchase
To process a vendor debit, you first need to record a debit
transaction and then record the settlement of the debit (for
example, by recording a refund check from your vendor).
TIP :
Recording vendor debits
You can create a vendor debit in one of two ways:
„
„
Reverse an existing purchase. Use this method if you have
been debited for the entire purchase.
Manually create a debit. Use this method if you have been
debited for part of a purchase.
To reverse an existing purchase
Your company file transactions must be set to unchangeable
before you can reverse a purchase; that is, the Transactions
CAN’T be Changed; They Must be Reversed option must be
selected in the Security tab of the Preferences window.
1
Find and display the purchase. See ‘Finding a transaction’ on
page 183.
2
Go to the Edit menu and choose Reverse Purchase. A vendor
debit appears in the Purchases window.
3
If you want, you can make some changes to the vendor debit
(such as changes to the date and memo), but you can’t
change the accounts, amounts, and quantities that are
associated with the debit.
4
Click Record Reversal. A vendor debit memo appears in the
Purchases Register window.
RECORDING AND SETTLING VENDOR DEBITS
Create an account for tracking purchase returns Before
you create a vendor debit for the first time, you may want to create
an account for tracking purchase returns and allowances, if one does
not already exist in your Accounts List. Make sure this account is an
expense account. See ‘Set up accounts’ on page 26.
1
Go to the Purchases command center and click Enter
Purchases. The Purchases window appears.
2
In the Vendor field, type or select the vendor’s name.
3
Select Bill from the list in the top left corner of the window.
4
Click Layout and select Miscellaneous.
5
In the Description field, type the reason for the vendor debit.
6
In the Acct# field, type or select the account to be debited.
This is the account you use for purchase returns.
7
In the Amount field, type the amount of the debit as a
negative amount.
8
Click Record. A vendor debit memo appears in the Purchases
Register window.
To manually create a debit for an item purchase
1
Go to the Purchases command center and click Enter
Purchases. The Purchases window appears.
2
In the Vendor field, type or select the vendor’s name.
3
Select Bill from the list in the top left of the window.
4
Click Layout and select Item.
5
In the Bill field, type the quantity of the item you are
returning as a negative number.
107
6
In the Item Number field, type the item number or select it
from the list. The cost of the item is displayed as negative
amount in the Total field.
5
If you want to apply part of the vendor debit to unpaid
finance charges you may have accrued, enter an amount in
the Finance Charge field.
7
Click Record. A vendor debit memo appears in the Purchases
Register window.
6
Click Record to apply the vendor debit.
Settling vendor debits
You can settle a vendor debit in one of two ways:
„
„
Apply the debit to an unpaid purchase. Use this method to
apply the vendor debit to one or more of your unpaid
purchases from the vendor, or
Receive a refund. Use this method to record the receipt of a
refund check from the vendor.
To apply a vendor debit to an unpaid purchase
1
Go to the Purchases command center and click Purchases
Register. The Purchases Register window appears.
2
Click the Returns & Debits tab.
3
Locate and select the debit you want to apply and click Apply
to Purchase. The Settle Returns & Debits window appears,
listing all open purchases that you have made from the
vendor.
4
If the transaction is unbalanced, that is, if the total amount
entered in the Amount Applied column doesn’t equal the
amount displayed in the Debit Amount field at the top of the
window, a message appears. Click OK to close the message and
then check that the amounts you have applied to the various
transactions are correct.
To record a refund check
1
Go to the Purchases command center and click Purchases
Register. The Purchases Register window appears.
2
Click the Returns & Debits tab.
3
Choose Vendor from the Search By list. Type or select the
vendor name in the adjacent field. A list of debits for that
vendor appears.
4
Select the debit that is being refunded and click Receive
Refund. A refund check for the amount of the vendor debit
appears in the Settle Returns & Debits window.
5
Click Record to record the refund check.
Type the amount you want to apply to a purchase in the
Amount Applied column.
If the Apply Bill Payments Automatically to Oldest Bill First
preference is selected in the Purchases view of the
Preferences window, amounts will appear next to the oldest
bill in the Amount Applied column.
You can apply the debit amount to one transaction or you can
split it over any of the transactions in the list. Remember that
the total amount you apply in the Amount Applied column
must equal the amount that appears in the Debit Amount
field.
108
CHAPTER 6
PURCHASES
Adding finance charges paid to vendors
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 record the charge in the Pay
Bills window.
Deleting finance charges If you enter a finance charge in the
Pay Bills window, two transactions are recorded:
„
the full vendor payment, including the finance charge, is
recorded in the disbursements journal, and
Setting up finance charges Before you can record finance
charges, you need to select an account for tracking late payment
charges. Go to the Setup menu, choose Linked Accounts, and
then Purchases Accounts. Select the I pay charges for late
payment option and select an expense account to record the
late payment charges.
„
the finance charge is recorded in the purchases journal.
Recording finance charges When you pay the finance charge,
type the amount in the Finance Charge field of the Pay Bills
window.
Therefore, if you want to delete a finance charge payment, you
must delete both transactions. If only one entry is deleted, the
Payables Reconciliation Summary report may show an
out-of-balance amount equal to the finance charge. When you
delete one of the entries, you will be reminded to delete the other
entry for the finance charge. Note that the warning will appear
even though you may have already deleted the corresponding
payment.
Although your MYOB software does not track the history of
finance charges, you can perform an account inquiry (using Find
Transactions) on the finance charge linked account to view the
amounts paid.
ADDING FINANCE CHARGES PAID TO VENDORS
109
110
CHAPTER 6
PURCHASES
Paying your employees
You can use the Payroll feature to process pays for wages and salary. Your MYOB software can calculate overtime rates, allowances, union fees and
other deductions, employer expenses and accruals, such as vacation pay and sick leave, along with tax deductions.
In MYOB software, the components of an employee’s pay, such as wages, accruals, and taxes, are called payroll categories. These are assigned to
an employee’s card to calculate their recurring pay. Some payroll categories (deductions, expenses, and taxes) determine what are known as
payroll liabilities. These are amounts withheld for later payment to the appropriate authority or agency.
When you process pays, you can vary an employee’s pay by overriding the recurring pay values, such as the actual number of hours worked and
the number of hours of vacation leave taken. At year-end, you can print out W-2 forms for your employees to use at tax time. For more
information, see ‘Starting a new payroll year’ on page 257.
If you are concerned about employee privacy, use the security features to restrict access to this and other areas of your company file.
Before you can pay your employees, you need set up your payroll. See ‘Set up payroll’ on page 37.
Creating payroll categories
An employee’s pay is made up of separate components, such as
normal time, overtime, union deductions, taxes, and so on. In
MYOB software, these components are called payroll categories,
and they are grouped into five types: wages, accruals,
deductions, employer expenses, and taxes.
111
Category
Description
Wages
All monies paid to an employee for labor or services
rendered on an hourly, salary, or other basis.
Accruals
Items such as vacation and sick leave, which
employees accrue under the terms of their work
agreement.
Deductions
Monies withheld by the employer and paid to other
organizations on behalf of the employee, for
example, union fees.
PAYING YOUR EMPLOYEES
7
Category
Description
Employer
expenses
Employer-paid benefits, for example, medical
insurance.
Taxes
Amounts withheld by the employer from the
employee’s paycheck and paid to a federal, state, or
local government.
A default list of payroll categories is generated when you create
your company file. You may want to review these categories and
tailor them to suit your business needs. See ‘To create a payroll
category’ below and ‘Payroll categories linked to employee cards’
on page 116.
3
Click New. The Information window for the selected payroll
category type appears.
4
Type a name for the payroll category.
5
Make the required selections for the payroll category. See the
following topics for information about the options available
for each payroll category type:
„ ‘Wages Information window’ on page 113.
„ ‘Accrual Information window’ on page 114.
„ ‘Deduction Information window’ on page 115.
„ ‘Employer Expense Information window’ on page 116.
6
Click Employee. The Linked Employees window appears.
7
Select the employees whose pay will include this payroll
category, then click OK.
8
If you are creating:
„ a Wage category, click Exempt and select the taxes and
deductions that do not apply to the new category
„ an Accrual category (and you have selected a percentage
of gross wages or federal wages as the calculation basis),
click Exempt and exclude those wage categories that
should not be included in the accrual calculation
„ a Deduction category, click Exempt and select the taxes
that should be applied only to net pay (that is, to gross pay
less the deduction amount)
„ an Employer Expense category (and you have selected a
percentage of gross wages or federal wages as the
calculation basis), click Exempt and choose the wage
categories that will not contribute to the value of the
expense.
9
Click OK.
10
Click OK to return to the Payroll Category List window.
To create a payroll category
1
Go to the Payroll command center and click Payroll
Categories. The Payroll Category List window appears.
2
Click the tab corresponding to the type of payroll category
you want to create.
You can only view tax categories You cannot create
any tax categories. To view the tax table information, click the
Taxes tab and then click the zoom arrow ( ) next to a tax. Tax
table information is set by a federal, state, or local government
department. Any queries should be referred to that department.
NOTE :
112
CHAPTER 7
PAYING YOUR EMPLOYEES
Wages Information window
A
B
C
D
E
A Choose either Salary or Hourly to specify whether the calculation will
be based upon the hours worked or a set amount per pay period.
Linked wage categories for accruals (such as Vacation Pay) must be
hourly for all employees (even those paid a salary) for the accruals to be
processed correctly. See ‘Accrual Information window’ on page 114 for
more information.
CREATING PAYROLL CATEGORIES
B If you select Hourly as the type of wages, the Pay Rate fields appear.
Select Regular Rate Multiplied by and enter, for example, 2 for double
time or 1.5 for time and a half. This will multiply the employee’s
Hourly Base Pay (entered in the Payroll Details tab view of their card)
by this amount. Alternatively, you can enter a fixed hourly rate. This
dollar amount per hour will be the same for each employee regardless
of their hourly base pay.
C If you want to override the employees’ wage expense account (entered
in the Payroll Details tab view of their card) for this particular wage,
select the Optional Account option and type or select the override
account in the field that appears.
D Select the Non-Cash Wages option if you want non-cash wages, such
as tips, excluded from the net pay. You can select from three types of
non-cash wages:
• Reported Tips
• Allocated Tips
• Other Non-Cash Wages.
E [Hourly wages only] Select the Automatically Adjust Base Hourly or
Base Salary Details option if you want to use this wage category to pay
leave accruals (such as Sick Pay or Vacation Pay). When you record
leave, base pay amounts will be adjusted for the amount of leave
paid.
113
Accrual Information window
•
A
B
C
D
A
Type of Accrual can be:
• User-Entered Amount per Pay Period should be selected if you
want to manually enter a specific amount for each employee, each
pay period. Choose this option if the amount varies regularly.
•
114
Equals x Percent of allows you to set the accrual as a percentage of
the number of hours of any wage category. It can only be used with
employees who have an Hourly Base Pay (entered in the Payroll
Details tab view of their card).
To calculate the appropriate percentage, use the following formula:
[Hours accrued per year/Hours worked per year] x 100. For
example, if your employees work 40 hours a week (8 hours x 5
days) and accrue 20 days vacation leave each year (160 hours), the
percentage is calculated as: [160 / (40 × 52)] x 100 = 7.6923%
Type the percentage in the first field and then select the wage
category from the selection list, which shows all your hourly wage
categories, in addition to Gross Hours or Federal Hours, which
totals all wage categories (hourly and salary) you pay an employee.
Equals x Hours per allows you to specify a fixed number of hours to
be accrued each Pay Period, Month or Year, regardless of the
hours worked by the employee. If you have set your employees to
be paid on a salary basis rather than on an hourly basis, this is the
only option that will automatically accrue hours.
Using this method, a vacation leave accrual may be for 20 days per
year, being 160 hours per year based on a 40-hour week. If the
employee is paid every two weeks, there are 26 pay periods per
year. The amount you enter here would be 160 ÷ 26 = 6.154 hours
per pay period. If you pay more than a recurring pay in one
paycheck, you will need to manually adjust this figure.
For example, for 4 weeks pay on one paycheck, you would double
it to 12.308 hours.
B
If you want the accrued amount to appear on the paycheck stub, select
the Print on Paycheck Stub option.
C
If you want to carry over any accrued leave balance from the previous
year, select the Carry Remaining Leave Over to Next Year option.
D
Each accrual category must have a Linked Wages Category. For
example, the Vacation Leave Accrual could be linked to the Vacation
Pay wage category and the Sick Leave Accrual could be linked to the
Sick Pay wage category. If you create a new accrual, you must link it to
a wage category.
When employees use their accruals, for example, by taking a vacation,
you allocate the hours taken against the linked wage category (in this
example, the vacation pay wage category). The employee’s accrued
leave balance is reduced by the hours taken.
Note that you can link multiple wage categories to an accrual. This
enables you to provide and track different types of the same accrual.
For example, you can link a Sick Pay With Certificate wage category
and Sick Pay Without Certificate wage category to sick leave accrual.
When an employee takes either type of leave, your sick leave accrual is
reduced by the hours taken.
CHAPTER 7
PAYING YOUR EMPLOYEES
Deduction Information window
B
Type of Deduction may be one of the following choices:
• User-Entered Amount per Pay Period should be selected if you
want to manually enter a specific amount for each employee each
pay period. Note that manually entered deductions should be
entered as negative values.
• Equals x Percent of allows you to enter a percentage of any of the
wage categories. This amount will be deducted until the
deduction limit (see below) is reached.
Type or select a wage category upon which the calculation is to be
based. Alternatively, you can select Gross Wages or Federal
Wages, which totals all wage categories (hourly and salary) you
pay an employee.
• Equals x Dollars per allows you to deduct the specified amount
per pay period, per month, per year, or per hour. This amount will
be deducted until the limit (see below) is reached.
C
Deduction Limit may be one of the following choices:
• No Limit signifies no limit on the amount of money that can be
deducted from the employee’s pay for this category.
• Equals x Percent of results in the maximum deduction amount
being a percentage of a wage category. For example, a deduction
might be $50 per pay period up to a maximum of 50% of the
employee’s base salary. The special categories of Gross Wages and
Federal Wages are also available here (refer to discussion in ‘Equals
x Percent of’, above).
• Equals x Dollars per results in the maximum deduction being a
fixed dollar amount per pay period, per month, or per year. For
example, a deduction might be 10% of the employee’s gross
wages up to $1,500 per year.
A
B
C
A
Linked Payable Account is the account (usually a liability account) in
which all the deducted money will be accrued. The Default
Withholding Payable Account you specified when setting up payroll
appears as the default. You should change this default if you want to
track the deduction separately. For example, if you are deducting
union fees, create a Union Fees Payable liability account. This way,
the balance sheet will display the deductions separately from your
taxes and other deductions.
CREATING PAYROLL CATEGORIES
115
Employer Expense Information window
D
Click the Type of Expense arrow and choose the expense type:
• SUI for state unemployment insurance
• SDI for state disability insurance
• Other for all expenses other than SDI or SUI, such as matching
amounts for 401(K) and insurance programs.
E
If you are creating an Other expense type, Expense Basis can be:
• Equals x Percent of allows you to enter a percentage of any of the
wage or deduction categories, or a percentage of all of the wage
categories (by choosing Gross Wages or Federal Wages).
This expense will be charged until the expense limit is reached.
• Equals x Dollars per allows you to type the specified amount per
pay period, per month, or per year until the limit is reached.
F
If you are creating an Other expense type, limits can be used to place
a ceiling on the expense. For example, for an expense of $30 per pay
period and a limit of 2% of Gross Wages, a paycheck with Gross Wages
of $1,000 yields an expense of only $20 (i.e. 2%). Limit may be one of
the following:
• No Limit signifies no limit to the expense for this category.
• Equals x Percent of results in the maximum expense being a
percentage of a wage or deduction category or of all wage
categories. For example, an expense might be $20 per pay period
up to a maximum of 20% of the employee’s base salary.
• Equals x Dollars per results in the maximum expense being a fixed
dollar amount per pay period, per month, or per year. For
example, an expense might be 5% of an employee’s gross wages
up to $1,000 per year.
G
If you are creating an SUI or SDI expense, type or select a state postal
abbreviation for the employer expense.
H
If you are creating an SUI or SDI expense type, enter your company's
state tax identification number in the State Tax ID field.
I
If you are creating an SUI expense type, enter your company's state
unemployment insurance (SUI) rate as a percentage.
If you are creating an SDI expense type, enter your company's state
disability insurance (SDI) rate as a percentage.
J
If you are creating an SUI or SDI expense type, type the wages limit.
A
B
D
C
E
F
G
H
I
J
A
B
C
116
Linked Expense Account is the account to which you are charging
this expense. The Account for Employer Expenses you specified
when setting up payroll appears as the default.
Linked Payable Account is the liability account to which your expense
will accrue. The Account for Deductions & Expenses you specified
when setting up payroll appears as the default.
If you want amounts you have paid to appear on employees’ check
stubs or pay advices, select the Print on Paycheck Stub option.
CHAPTER 7
PAYING YOUR EMPLOYEES
Editing payroll categories
2
Payroll categories linked to employee cards If you edit a
payroll category that is linked to employee cards, any changes you
make will apply to all employee cards linked to that category.
Click the tab corresponding to the type of payroll category
you want to edit—Wages, Accruals, Deductions, or
Expenses.
NOTE :
You can only view tax categories You cannot create
any tax categories. To view the tax table information, click the
Taxes tab and then click the zoom arrow ( ) next to the tax
rate.
NOTE :
To edit a payroll category
1
Go to the Payroll command center and click Payroll
Categories. The Payroll Category List window appears.
3
Click the zoom arrow ( ) next to the payroll category you
want to edit. The information window for that category
appears.
4
Make the required selections for the payroll category. See the
following topics for information about the options available
for each payroll category type:
„ ‘Wages Information window’ on page 113
„ ‘Accrual Information window’ on page 114
„ ‘Deduction Information window’ on page 115
„ ‘Employer Expense Information window’ on page 116.
5
Click OK.
5
Type the employee’s first name and their contact details.
6
Select the currency in which you pay the employee. Note that
if you will be recording paychecks for the employee using the
Process Payroll Assistant, you must select your local currency.
7
If you want to enter payroll information, continue with step 4
in ‘To enter payroll information for an employee’ on
page 118.
8
Click OK and then click Close to exit the Cards List window.
Creating employee cards
Before you can process payroll, you need to create a card for each
employee.
To create an employee card
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
2
Click New. The Card Information window appears.
3
Select Employee in the Card Type field.
4
Type the employee’s last name and press TAB.
CREATING EMPLOYEE CARDS
117
Setting up cards for 1099 vendors
If you will be paying 1099 vendors and you will be using your
MYOB software to track amounts paid, you need to set up a card
for each vendor.
To set up a card for a 1099 vendor
1
2
In the Card Information window, click the Buying Details
tab.
3
Enter the vendor’s tax number in the Tax ID Number field.
4
Select a 1099 reporting category in the Report Payments on
1099 as field.
5
Click OK.
Create a vendor card, or open the card for an existing vendor
you will be paying 1099 amounts. For more information, see
‘Creating a vendor card’ on page 91.
Entering employee payroll information
Once you have created payroll categories (see page 111) and an
employee card (see page 117), you can enter the employee’s
payroll information.
Restrict user access to employee information User IDs can
be set up to restrict access to employee payroll, banking, and
contact information stored in the card file and in reports. You can
select broad restrictions, such as disallowing access to the
employee card file, or you can set specific restrictions, such as
viewing employee banking details.
To enter payroll information for an employee
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
2
Click the Employee tab and select an employee.
3
Click Edit. The Card Information window appears.
4
Click the Payroll Details tab.
5
Enter the employee’s personal details, social security number
and their residence and work codes.
If you want to prevent a user from editing and viewing all payroll
details, you need to restrict access to payroll reports as well as to
employee card information and to the Payroll command center
functions. You can set these restrictions in the access profile of
each user ID. For more information, see ‘Managing user
accounts’ on page 261.
In order to process payroll, a Residence Code and a
Work Code must be entered for every employee When
proceeding to step 2 of the Process Payroll assistant, each
employee card entered in the Card File will be verified for an
entry in each of the fields. Even if you’ve created a card for an
employee whom you don’t plan to pay using the Process
Payroll assistant, the employee must have an entry in the
Residence Code and Work Code fields.
NOTE :
6
118
Select a pay stub delivery method from the Pay Stub
Delivery list.
CHAPTER 7
PAYING YOUR EMPLOYEES
If you email pay stubs, enter the employee’s email address in
the Pay Stub Email field.
e If the employee’s wage expense account is different from
the default account, in the Wages Expense Account field,
type or select the required account.
f Click in the select column ( ) next to each wage category
that applies to the employee.
Enter wage information
7
Click Wages and enter the wage information for this
employee.
a Select the employee’s pay basis.
When you select a pay basis, the corresponding payroll
category for paying wage amounts is automatically selected
in the Wage list. If you select Hourly, the Base Hourly wage
category (or the name you assigned to this category) is
selected. If you select Salary, the Base Salary wage category
(or the name you assigned to this category) is selected.
b Type the employee’s annual salary amount or hourly wage
rate.
c Select the employee’s pay frequency in the Pay Frequency
field.
d In the Hours in [...] Pay Period field, type the number of
hours in the employee’s normal pay period.
ENTERING EMPLOYEE PAYROLL INFORMATION
Enter accrual, deduction, and expense information
8
Click Accruals and click in the select column ( ) next to each
accrual that applies to the employee.
9
Click Deductions and click in the select column ( ) next to
each deduction that applies to the employee.
10
Click Employer Expenses and click in the select column ( )
next to each expense that applies to the employee.
Enter tax information
11
Click Taxes and enter the employee’s tax details.
a Select the employee’s tax level and marital status.
b [Optional] Enter allowances and extra amounts withheld
each pay period. Make sure you do this for both Federal
and State tax levels if applicable.
119
c Click in the select column (
) next to each tax category
that applies to the employee.
a If necessary, change the employee’s default pay details by
overriding the values that appear in the Hours or Amount
column next to a payroll category.
If you use timesheets to record all hours worked by an
employee, enter zero as the default hours for the Base
Hourly payroll category.
NOTE : Payroll categories with a calculated value The
value of a payroll category with Calculated displayed in the
Hours or Amount column is automatically calculated when
you process a pay. Calculated values include tax amounts
and accrual hours where hours are calculated as a percentage
of the gross hours paid.
b If you want to assign a job number to a payroll category for
this employee, click in the Job column and enter or select a
job number.
c If you track fiscal information using categories, select a
category from the Default Category list.
Enter recurring pay details
12
Click Recurring Pay. The employee’s default pay details
appear. The default values are determined by the payroll
categories selected and values entered from step 7.
Enter pay history and time billing information
13
If you have already paid the employee in the current payroll
year, click Pay History and type the amounts you have paid in
the Activity column next to each relevant payroll category.
You can enter pay history for specific months, quarters, or for
the year to date.
Amounts entered in the Pay History window appear on
reports not derived from payroll activity (such as register
reports). They are not recorded as transactions in your
accounts.
14
120
If you use the Time Billing function to track the time the
employee spends to complete work for clients and customers,
click Time Billing and type the employee’s time billing rate
and cost per hour. For more information, see Chapter 8,
’Billing for time,’ starting on page 137.
CHAPTER 7
PAYING YOUR EMPLOYEES
Number and Bank Account Name fields. These fields are
used to route electronic payments to the correct destination
bank. For more information, see ‘Set up MYOB Business
Services’ on page 43
Enter payment method information
15
Click the Payment Details tab and select the method you use
to pay the employee in the Payment Method list.
If you are paying employees using MYOB Direct Deposit,
select Electronic and enter the employee’s bank details in the
Account Type, ABA Routing Number, Bank Account
16
Click OK. The Cards List window reappears.
17
Click Close to return to Payroll command center.
Timesheets
Timesheets are used to record all the hours worked by hourly
employees. If you pay employees for time-billing activities, you
can also enter activity details on timesheets and use these details
to create activity slips.
To set up timesheets
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
The timesheet feature is optional. If your hourly employees work
a fixed number of hours per pay and you don’t pay employees for
time-billing activities, there’s no need for you to use this feature.
If you do want to use it, you need to set a preference. Once you
set this preference, you must pay all hourly employees using
timesheets.
2
Click the System tab.
3
Select the I Use Timesheets for [...] and My Week Starts on
[...] preference.
4
If you use timesheets to record:
„ time billing and payroll information, select Time Billing
and Payroll from the I Use Timesheets for [...] list.
„ payroll information only, select Payroll from the I Use
Timesheets for [...] list.
5
Select the first day of your pay week from the My Week
Starts on [...] list. If your pay period starts on a different day
each period, for example, you pay monthly, you can select
any day.
6
Click OK.
When you record timesheet information for a pay period, you
include the timesheet details in employee pays. For more
information, see ‘[Optional] Include employee timesheets’ on
page 125.
Creating a timesheet entry when recording an activity
slip You can create a timesheet entry from the Activity Slip view of
the Enter Activity Slip window by selecting the Include Hours on
Timesheet option. This allows you to enter greater detail about the
activity. See ‘Creating activity slips’ on page 142.
NOTE :
Before using timesheets, you need to set a preference. See ‘To set
up timesheets’ below.
TIMESHEETS
121
To enter a timesheet
1
2
Go to the Payroll command center and click Enter
Timesheet. The Enter Timesheet window appears.
In the Employee field, type or select the employee’s name.
The employee’s timesheet, with any previously entered
details for the period shown, appears.
Gray values in the hours column
hours column indicates hours paid.
NOTE :
3
4
A gray value in an
If you are recording details for a week other than the current
week, select the required week:
„ click the back arrow (
) to select a previous week
„ click the forward arrow (
) to select a future week
„ click the calendar icon (
) to select a week from the
calendar that appears.
5
122
Enter timesheet details in one of the following ways:
If you want to...
Do this:
enter the daily
hours for each
payroll category
worked
For each payroll category, type or select an
hourly payroll category in the Payroll
Category field and enter the daily hours
worked in the date fields.
You can also:
• record time-billing details (depending on
your selection in the Preferences
window)
• type a description in the Notes field
• assign a job number.
use the same
details as the
previous week
Click Copy From Previous. The employee’s
timesheet details for the previous week
appear.
use the recurring
details on the
employee’s card
Click Use Recurring Pay Details.
The payroll category hours appear in the first
column of each timesheet in the pay period.
(This number is the annualized value of the
hours listed in the Card Information
window, divided by the weeks in a year.)
You will need to distribute the hours over the
days of the week to accurately reflect the
employee’s actual hours.
Note:
• For employees who are paid weekly,
there is one timesheet per pay period.
• For employees who are paid every two
weeks, twice a month, or monthly, there
is more than one timesheet per pay
period.
• For employees who are paid twice a
month and monthly, the timesheet may
span more than one pay period and the
first day’s column may not be the first day
of the pay period.
If you want to enter a timesheet for another week, repeat
from step 3 above.
CHAPTER 7
PAYING YOUR EMPLOYEES
6
Click OK.
If you recorded time-billing activity details on this timesheet,
an activity slip is created. You can review or modify the
activity slip information in the Enter Activity Slip window or
the Enter Timesheet window.
Delete timesheet entries
You can delete unpaid timesheet entries at any time by clearing
all timesheet details for a week or by deleting a timesheet line
entry.
When you delete timesheet entries with activity details, the linked
activity slip is also deleted.
To clear a timesheet for a week
1
In the Enter Timesheet window, select the employee and the
required week.
2
Click Clear Timesheet. All unpaid details for the selected
week are cleared.
To delete a timesheet line entry
1
In the Enter Timesheet window, select the employee and the
required week.
2
Click in the line entry you want to delete.
3
Choose Delete Line from the Edit menu.
View timesheet reports
1
Go to the Reports menu and select Index to Reports.
2
Click the Payroll tab and select:
„ Timesheets—to view timesheets entered for a specific
week.
„ Unprocessed Timesheets—to view unprocessed
timesheets.
For information about how to view and customize reports,
see ‘Reports’ on page 195.
Processing your payroll
The Process Payroll assistant guides you through the process of
recording your employees’ pays.
In some windows of the Process Payroll assistant, you can click
Back to return to a previous window to review and change the
entries you have made. You can also quit the assistant while you
are in a window that has a Cancel button. If you quit the
assistant, you will need to start from the beginning.
PROCESSING YOUR PAYROLL
Pay frequency You can process pays for all employees assigned
a pay frequency, such as weekly or monthly, or process pay for an
individual employee.
If you want to record pays for more than one pay frequency on
the same day—for example, when your weekly and monthly pay
dates coincide—you need to process a pay run for each
frequency.
123
Excluding employees from pay processing You can
temporarily remove an employee from a pay frequency by
making their employee card inactive. For example, if you employ
seasonal workers and full-time employees, you may want to
make the seasonal workers’ employee cards inactive during the
off season.
Task 1: Select the pay period
1
Go to the Payroll command center and select Process
Payroll. The Select Employees to Pay window appears.
2
Select the pay frequency you are processing.
„ If you are processing pays for all employees, click Process
all employees paid and select the pay frequency in the
adjacent field.
To make an employee card inactive, open the employee’s Card
Information window and click Inactive Card in the Profile tab
view.
Before you begin Before you process your payroll, you need
the following information:
„
hours worked by hourly employees (if you do not record
hours using timesheets)
„
vacation and sick pay hours taken
„
details of any other wage amounts, such as sales commissions
and bonuses.
Do the following to process your payroll.
Task
See
1
Select the pay period
below
2
[Optional] Include employee timesheets
page 125
3
Select and edit paychecks
page 125
4
Record employee pays
page 129
5
Process payments
page 129
6
Print/email pay stubs
page 131
Paying bonuses and commissions If you are
processing pays for bonuses or commissions outside your
normal pay period, select the Bonus/Commission pay
frequency. When you select this frequency, your employees’
recurring pay details are cleared in the Select & Edit
Paychecks window. Also note that you need to manually
calculate and enter tax for these amounts.
NOTE :
„
3
4
124
In the Pay period start field, type the first day of the pay
If you are processing a pay for an individual employee, click
Process individual employee and select the employee in
the adjacent field. The pay frequency assigned to the
employee’s card is used in the pay run.
In the Payment date field, type the date on which you are
processing the pays.
period.
CHAPTER 7
PAYING YOUR EMPLOYEES
5
In the Pay period end field, type the last date of the pay
period.
6
If you use timesheets, continue with ‘Task 2: [Optional]
Include employee timesheets’ below.
7
If you do not use timesheets, click Next and then continue
with ‘Task 3: Select and edit paychecks’ below.
Task 2: [Optional] Include employee
timesheets
2
When you have finished, click Next to continue. The Select &
Edit Employee’s Pay window appears.
Task 3: Select and edit paychecks
The Select & Edit Paychecks window displays the recurring pay
details and the timesheet amounts (if applicable) for employees
who are paid according to the selected pay frequency.
The Select employees to pay window lists employee timesheets
for the specified pay period.
Paying employees from timesheets This option is only
available if you have selected the use I Use Timesheets for [...] and
My Week Starts on [...] preference on the System tab of the
Preferences window. See ‘Timesheets’ on page 121.
NOTE :
Initially, all timesheets are selected to be included in the pay
period.
1
1
If you want to exclude an employee from the pay run, click in
the select column ( ) next to the employee’s name.
2
If you want to view the details of your employee pays, click
Preview Pay Details. The Payroll Verification reports
appears.
3
If you need to change the pay details for an employee, click
the zoom arrow ( ) next to an employee’s name. In the Pay
Employee window that appears, you can:
„ change the hours worked (see below)
„ record vacation and sick pay (see below)
„ record any other types of pay (see page 127)
„ assign job numbers to payroll category amounts (see
page 128)
„ change the employee’s bank account details (see
page 128).
To change, view or exclude a timesheet:
If you want to...
Do this:
exclude a timesheet
Click in the select column (
next to it.
change the
timesheet details of
an employee
Click the zoom arrow (
) next
to the employee’s name and make
the required changes in the Enter
Timesheets window.
view the details of all
unprocessed
timesheets
Click Display Unprocessed
Timesheets.
PROCESSING YOUR PAYROLL
)
125
To change hours worked for an hourly employee
To record vacation and sick pay
You may need to change the recurring hours worked by an
employee if they are not being paid for a full recurring pay
period, for instance, if they have only worked a some of their
usual hours.
NOTE : Vacation and sick pay hours recorded on a timesheet If
you’ve entered vacation and sick hours on a timesheet, you don’t
need to follow this procedure.
Editing hours recorded on a timesheet You can edit an
employee’s timesheet hours in the Pay Employee window.
However, any timesheet adjustments you make here will not update
hours entered on timesheets, timesheet reports or, if you record
time-billing activities, activity slips.
NOTE :
1
2
126
1
In the Select & Edit Paychecks window, click the zoom
arrow ( ) next to the employee’s name. The Pay Employee
window appears.
2
In the Hours column for the appropriate wage category, type
the number of sick or vacation hours and press TAB.
„ If you have set up this wage category to automatically
adjust the employee’s base pay details, the amount for this
wage category is calculated and the Base Hourly (or Base
Salary) wage category details are adjusted.
In the Select & Edit Paychecks window, click the zoom
arrow ( ) next to the employee’s name. The Pay Employee
window appears.
Change the hours worked for the applicable wage categories
and press TAB. The payroll category amounts are calculated
automatically and displayed in the Amount column.
3
Click OK. The Select & Edit Paychecks window reappears.
4
Repeat from step 1 for each employee whose hours you want
to change.
Automatically adjusting Base Hourly or Base Salary
details Before base pay details can be automatically
adjusted, you need to select the Automatically Adjust Base
Hourly or Base Salary Details option in the Wages
Information window for the wage category. For more
information see ‘Wages Information window’ on page 113
NOTE :
CHAPTER 7
PAYING YOUR EMPLOYEES
„
3
If you have not set up this wage category to automatically
adjust base pay details, reduce the number of hours
allocated to the Base Hourly wage category or the amount
allocated to the Base Salary wage category by the amount
entered for the vacation or sick pay payroll category.
For example, if you are recording eight hours of vacation
leave for an hourly employee, type 8 in the Hours column
next to the Vacation Pay payroll category and press TAB.
The hours recorded for the Base Hourly category are
automatically reduced by 8 and the amount is
appropriately adjusted.
If you want to record the dates leave was taken:
a Click the zoom arrow ( ) in the Hours column next to the
appropriate wage category. The Leave Tracking
Information window appears.
To record other types of pay
NOTE : Other types of pay recorded on a timesheet If you’ve
entered other types of pay—such as sales commission and
bonuses—on a timesheet, you don’t need to use this procedure.
Before you enter these details, the wage categories you intend to
use should already be assigned to the employee. For information
on assigning a wage category to an employee, see ‘Entering
employee payroll information’ on page 118.
1
In the Select & Edit Paychecks window, click the zoom
arrow ( ) next to the employee’s name. The Pay Employee
window appears.
2
In the Hours or Amount fields next to each appropriate wage
category, type the hours or amounts you want to record.
3
Click OK. The Select & Edit Paychecks window reappears.
To assign jobs to payroll category amounts
b Record the leave details.
Job numbers can be assigned to payroll category amounts to
track the wage expense of work performed. You can assign one
or more jobs to each payroll category.
c Click OK.
4
Click OK. The Select & Edit Paychecks window reappears.
Note that when you record the paycheck, the number hours
paid will be automatically subtracted from the number of
hours the employee has accrued.
PROCESSING YOUR PAYROLL
127
1
In the Select & Edit Paychecks window, click the zoom
arrow ( ) next to the employee’s name. The Pay Employee
window appears.
You can also assign a default job to an employee in the Recurring
Pay section of the employee’s card. For more information, see
‘Entering employee payroll information’ on page 118.
To change an employee’s bank account details
If you pay your employees using MYOB Direct Deposit, you can
change an employee’s bank account details for this pay run.
2
Type or select the job number in the Job column
corresponding to the payroll category.
3
If you want to assign multiple jobs to a payroll category:
a Click in the Job column corresponding to the appropriate
payroll category and then click the search icon ( ).
b In the Allocate Jobs window that appears, click the select
column ( ) next to each applicable job and type the
amount in the Amount column.
1
In the Select & Edit Paychecks window, click the zoom
arrow ( ) next to the employee’s name. The Pay Employee
window appears.
2
Click Banking Details and enter the required bank details in
the Banking Details window that appears.
3
Click OK. A confirmation message appears.
4
If you want to update the employee’s bank details for all
subsequent pay runs, click Yes.
5
Click OK. The Select & Edit Paychecks window reappears.
For more information on entering an employee’s banking details,
see ‘Entering employee payroll information’ on page 118.
c Click OK. The Pay Employee window reappears.
4
128
Click OK. The Select & Edit Paychecks window reappears.
CHAPTER 7
PAYING YOUR EMPLOYEES
Task 4: Record employee pays
1
2
In the Select & Edit Paychecks window, click Record.
pay frequencies and then click Prepare Electronic Payments
from the Payroll command center to prepare the combined
payment file.
If a confirmation window appears, click Continue.
To print paychecks
When the pays are recorded, the Process Payments window
appears.
1
Click Print Paychecks. The Review Checks Before Printing
window appears.
2
If you print checks on customized forms, type the number of
the first check in the Check # of First Check in Printer field.
3
Type how many copies you want to print in the Print [...]
Copies of Each Selected Check field.
4
If you want to change the type of information you are going
to print or the customized form it will be printed on, click
Advanced Filters. For more information, see ‘Advanced
filters’ on page 209.
If you discover after you have processed your payroll that you
need to change the details of a recorded pay, you can reverse
or delete the incorrect transaction and then process a new
pay for the individual employee. For more information, see
‘Changing or deleting a transaction’ on page 186.
Task 5: Process payments
In the Process Payments window, you can:
„
print employee paychecks (see below).
„
process an electronic payment for employees paid using
MYOB Direct Deposit (see page 130).
5
Click in the select column ( ) next to the paychecks you
want to be printed.
„
create a spend money transaction to clear the account you
use to temporarily hold cash wage amounts (see page 131).
6
If necessary, click the zoom arrow ( ) to view more
information about a particular paycheck.
If you want, you can perform these tasks later using the relevant
command center function. For example, if pay employees using
MYOB Direct Deposit and you want to include weekly and
monthly payments in one electronic payment file, process both
7
Click Print. The Print window appears.
8
Click Print or OK to print the checks. The Process Payments
window reappears.
PROCESSING YOUR PAYROLL
129
To process a direct deposit using MYOB Direct Deposit
An approval status indicates only that the initial
authorization was successful There is an additional
processing period of 72 business hours in which the funds are
transferred from your account, the destination account is
identified and so on. During this period the payment may still
fail.
NOTE :
1
Click Prepare Electronic Payments. The Prepare Electronic
Payments window appears.
2
Select Pay Employees from the Select Payment By list, if it is
not already selected.
3
In the Date field, type the date you want the bank to process
the pays. Unprocessed pays up to and including this date
appear.
4
[Optional] Record the purpose of the transaction in the
Journal Memo field.
5
Click in the select column ( ) next to the payments you
want to include in the electronic payment.
6
Click Process and Record to transmit the transactions for
approval.
7
For each declined transaction, verify the employee’s bank
information. Correct any errors and retransmit the
transaction for processing or change the payment to a
printed paycheck.
8
Check for transactions that failed the processing
requirements. Click Get Update to open the Online Error
Notification window where any unsuccessfully processed
transactions are listed.
Write down the online error notification details
When you close the Online Error Notification window, the
error details are cleared.
NOTE :
9
If a transaction appears in the Online Error Notification
window, you should reverse it. You can select and reverse a
transaction directly from this window. To do this:
a Click Reverse.
b Open the Prepare Electronic Payments window and click
in the select column ( ) next to the payment reversal (a
negative number) in the list of payments.
c Click Record Only.
After the transmission, an Approval or a Declined status
appears in the Status column for each transaction in the list.
For each declined transaction, a Processed Electronic
Payment window appears with a code and description of the
decline reason, as well as the transaction ID, date, card name
and amount of the transaction.
130
CHAPTER 7
PAYING YOUR EMPLOYEES
To create a check transaction to record cash wages
1
Click Spend Money. The Spend Money window appears
with the details of total cash wages paid and the default
clearing account you use for cash wages.
You can provide your employees with details of their pay by:
2
3
In the Pay from Account field, select the bank account from
which you withdrew the cash wage amount.
Click Record to clear the balance of the cash wage clearing
account. The Process Payments window appears.
„
printing or emailing pay stubs (see below)
„
printing the Payroll Earnings report (see page 132)
To print pay stubs
1
Click Print/Email Pay Stubs. The Review Pay Stubs Before
Delivery window appears.
2
Click the To Be Printed tab.
3
Type the number of pay stubs you want to print per
employee in the Print field.
4
If you want to customize or filter the information, or to
change the type of form it will be printed on, click Advanced
Filters. For more information, see ‘Advanced filters’ on
page 209.
5
Click in the select column ( ) next to the employees you are
printing pay stubs for.
6
Click Print.
7
If you have completed processing your employee’s pay, click
Finish to exit the Process Payroll Assistant.
Task 6: Print/email pay stubs
When you have finished printing checks and processing
payments, click Next. The Print Employee Pay Stubs window
appears.
If you paid employees by check in a previous step If you
pay employees by check, and you printed paycheck in the previous
step, the pay details for these employees are already included on
their paycheck stub. You do not need to do this step.
NOTE :
PROCESSING YOUR PAYROLL
131
Filters. For more information, see ‘Advanced filters’ on
page 209.
To email pay stubs
Click Print/Email Pay Stubs. The Review Pay Stubs Before
Delivery window appears.
7
Click Send Email.
2
Click the To Be Emailed tab.
8
3
Click in the select column ( ) next to the employees you to
whom you want to email pay stubs.
If you have completed processing your employee’s pay, click
Finish to exit the Process Payroll Assistant.
4
If you want to change an employee’s email address, select the
employee’s name and type a different address in the Email
Address field.
1
5
6
Type the subject title and message of the email or accept the
default subject and message. If you want to change the
default message, click Email Defaults and make the changes
as appropriate.
If you want to customize or filter the information, or to
change the type of form that will be sent, click Advanced
To print the Payroll Earnings report
1
Click Display Payroll Earnings. The Report Display window
appears with the pay details for your employees.
2
Click Print. The Print window appears.
3
Click Print or OK. The Display Payroll Earnings window
reappears.
4
If you have completed processing your employee’s pay, click
Finish to exit the Process Payroll Assistant.
Payroll liabilities
A payroll liability is an amount withheld from an employee’s pay
that must be paid to an appropriate authority or agency, for
example, deductions, expenses, and state or federal taxes.
Your payroll liabilities are recorded when you process your
payroll. When you need to pay these amounts, you can use the
Pay Liabilities window.
To pay your payroll liabilities
1
132
Go to the Payroll command center and click Pay Liabilities.
The Pay Liabilities window appears.
CHAPTER 7
PAYING YOUR EMPLOYEES
2
Specify how the payment is to be made.
6
If you do not want to include all payroll categories:
a Click the search icon ( ) in the Payroll Categories field.
The Select from List window appears.
b Deselect categories by clicking in the select column ( )
next to each payroll category you want to exclude.
c Click OK. The Pay Liabilities window reappears.
7
In the Dated From and the Dated To fields, type the period
in which the payroll liabilities were withheld.
If you are paying the vendor electronically using MYOB
Vendor Payments, select Group with Electronic Payments.
3
In the Pay from Account field, type or select the account you
are making the payment from.
4
In the Vendor field, type or select the authority or agency to
whom the withheld amount is being paid.
5
Select the type of liability you are paying from the Liability
Type list.
The payroll liabilities withheld during the specified period
appear in the Payroll Category section.
8
By default, all payroll categories for the selected liability type
are included in the payment.
Click in the select column ( ) next to the payroll liability
amounts you want to include with this payment.
The total of the selected liabilities appears in the Total
Payment field.
9
Click Record.
Reviewing payroll information
The following tools help you manage your payroll information.
Tool
Description
See
Pay history for
current year
View an employee’s pay history in
their employee card.
page 134
Payroll
reports for
previous fiscal
years
Run reports containing prior year
payroll details.
page 134
Accrual
balance
View an employee’s accrual balance
and the dates when leave was taken.
REVIEWING PAYROLL INFORMATION
page 135
Tool
Description
See
Analyze
Payroll
window
Use the Analyze Payroll window to
view a summary of an employee’s
payroll data. It can help you detect
possible inaccuracies in the amounts
you’re paying to, and deducting from,
your employees.
page 136
Review payroll
liabilities
Use payroll liability reports to view
payroll details.
page 136
Find
Transactions
window
Use the Find Transactions window to
search for an account, card, or payroll
category.
page 183
133
Viewing pay history
Every time you process an employee’s pay, the amounts from
that payment are recorded in the employee’s pay history.
The Pay History section of an employee’s card is used to enter
the employee’s pay history when you are setting up payroll and,
later, to review their pay history.
If you’ve paid an employee the wrong amount, don’t attempt to
correct it by adjusting their pay history. Altering an employee’s
pay history does not affect the original pay record or the amounts
posted to the accounts. Instead, make adjusting entries on the
employee’s next pay.
6
Changing an employee’s pay history on their employee card can
also affect the calculation of payroll liabilities.
To view an employee’s pay history
134
Select a pay history period from the Show Pay History for
list.
Viewing prior year payroll reports
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
If you selected the Keep Paychecks from Prior Fiscal Years
option when you started a new fiscal year, the following reports
can be used to view prior year payroll details.
2
Click the Employee tab and select the employee whose pay
history you want to view.
„
Payroll Register Summary
„
Payroll Register Detail
„
Payroll Summary
„
Accrual Balance Summary
„
Accrual Balance Detail
3
Click Edit. The Card Information window appears.
4
Click the Payroll Details tab.
5
Click Pay History. The Pay History section displays the totals
of each payroll category for the specified month, quarter, or
year to date.
Note that you can only view historical details in these reports for
the fiscal years you have selected to keep paychecks from.
CHAPTER 7
PAYING YOUR EMPLOYEES
Viewing an employee’s accrual balances
4
Click Accruals. The Accruals section displays the total
number of hours an employee is entitled to take as sick and
vacation pay.
5
If necessary, type the accrual hours carried over from a
previous period in the Carry Over column next to the accrual
category.
6
Click OK and then click Close.
The Accruals section in the Payroll Details tab of an employee’s
card displays the accrual amounts that have been carried over
from the previous payroll year, the accrual amounts for the year
to date, and the total accrual amounts owing to the employee.
For example, an employee may have 40 hours of accrued
vacation leave carried over from the last payroll year. In the
current fiscal year, the employee has accrued another 10 hours,
but has taken 8 hours of vacation leave. Therefore, 2 hours will be
displayed in the Year-to-Date column and the Total column will
display 42 hours.
You can also view an employee’s accrual balances and the dates
leave was taken in the Accrual Balance Details report. (Note that
leave dates are only included if they were entered on employee
paychecks.)
To view or edit an employee’s accrual balances
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
2
Click the Employee tab and select the employee. Click Edit.
The Card Information window appears.
3
Click the Payroll Details tab.
REVIEWING PAYROLL INFORMATION
135
Analyzing payroll
Reviewing payroll liabilities
The Analyze Payroll window provides details of payroll
information and can help you detect possible inaccuracies in the
amounts you are paying to and withholding from your
employees.
The payroll liability reports show which payroll liability amounts
have been withheld from employee payments, and which
amounts have been paid, for any given period.
1
Go to the Payroll command center and click Analysis. The
Analyze Payroll window appears.
2
Type or select the employee’s name and the period you want
to analyze.
„
„
136
„
Payroll Liabilities by Category report—lists payroll liability
amounts that have been withheld.
„
Liabilities Payment Register report—lists payroll liability
amounts that have been paid.
The Payroll Summary section at the left of the window
shows totals for the selected pay period.
The Payroll Detail section appears on the right of the
window shows the wages, deductions, tax, accruals, and
employer expenses that have been recorded for the
selected pay period.
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PAYING YOUR EMPLOYEES
Billing for time
The time billing feature allows you to track the time spent by employees and vendors to complete work for clients and customers. You can also
track incidentals (such as items used) to complete the work.
About the time billing feature
An activity can be chargeable or non-chargeable. The ability to
track non-chargeable activities can be useful if you want to
record such costs as entertainment, which generally cannot be
charged to the customer.
Time billing is suitable for businesses that predominantly sell
time—such as accountants and lawyers—and businesses that sell
both time and items—such as interior designers and mechanics.
You can specify billing rates based on the activity itself, such as
consulting at $75 per hour and photocopying at 10 cents per
copy. You can also specify billing rates based on an hourly
charge-out rate for a particular employee or customer. For
example, employee John Smith’s hourly consulting rate may be
$120 per hour and subcontractor Acme Industries’ charge-out
rate may be $150 per hour. Similarly, customer My Town Realty
may be charged at a rate of $75 per hour because they are
regular customers.
Activities can be entered individually or grouped together on
activity slips. You can then generate time billing invoices, ready
to send to your customers. Any items that you have sold to your
customers can also be included with the activities in a single time
billing invoice.
You can also record the hours an employee works on an activity
when you create an activity slip, and then include these hours in
the employee’s pay.
Time billing reports can be filtered to give you just the
information you want. These reports monitor how you and your
staff spend your time and whether it is spent profitably.
137
BILLING FOR TIME
8
Setting time billing preferences
There are four preferences that should be set before you start
billing for time:
Preference
Description
Time billing
units
Set this preferences if you want to bill units of time of
less than an hour.
Special time billing units allow you to track time in
units of 1, 6, 10, 12, 15, or 30 minutes.
The unit of time you specify here will be the default
billing unit when you create hourly activity slips. For
example, you can specify six-minute time billing
units, where an hour would be 10 billing units of
time.
Round
timer-calculated
time
138
This preference determines how you want elapsed
time to be rounded. If you want to use the activity slip
timer to calculate billable hours, set how units of time
will be rounded.
You can round the up to next, down to previous or
to nearest. For example, if you have chosen up to
next and are using 30-minute billing units, 10
minutes would be rounded up to 30 minutes on an
activity slip. As another example, if you have chosen
to nearest and are using 30 minute billing units, 15
minutes would be rounded up to 30 minutes on an
activity slip.
If you are not using a special billing unit of time—that
is, you are billing in hours—you can specify the
rounding increment. For example, if you want to
round the actual time you clock using the timer up to
the next minute, choose up to next and type 1 in the
Minute Increment field. That way, if you clock 21
minutes and 32 seconds of an activity, 22 minutes
will be entered automatically in the Units field.
Note that if you specify both a special time billing
unit and a rounding rule, the Minute Increment field
here is redundant and, as such, is not displayed.
Preference
Description
Include items on
time billing
invoices
If you selected the I Include Items on Time Billing
Invoices preference, you can include both activities
and items on your time billing invoice.
Note that you can only include items for which you
have selected the I Sell This Item option in the Item
Information window. See ‘Creating items’ on
page 149.
Timesheets
This preference allows you to include time billing and
activity slip information in an employee’s pay, and to
create activity slips when you record employee hours
using a timesheet.
To set time billing preferences
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
Click the System tab. The preferences that apply to time
billing are the last four shown in the window.
3
Set the preferences according to how you want to conduct
time billing.
CHAPTER 8
BILLING FOR TIME
Setting billing rates
You can set billing rates that will automatically appear when you
create an activity slip. The billing rate can also be set for a
customer, employee, vendor, or for the activity itself. You can still
override these rates when you create the activity slip.
2
In the Customer Billing Rate field, type the hourly billing
rate, excluding tax, for the customer.
3
Click OK.
For example, for an activity such as the time spent photocopying,
you might use a flat rate for all customers, in which case you
would use the activity’s billing rate. For other activities, you might
charge the customer according to the employee who performed
the activity, the billing rate depending on factors such as the
expertise and experience of the employee.
To set a billing rate for an activity
You can set up a billing rate for each activity 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 ‘Creating activities’ on
page 140.
To set a billing rate for a customer
You can set up billing rates for customers on their cards. This
option is useful if you perform the same activities for multiple
customers and want to charge each customer a different rate.
1
Display the Card Information window for the relevant
customer and click the Selling Details tab.
SETTING BILLING RATES
To set a billing rate for a vendor or employee
You can set a billing rate for a vendor or employee. 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 subcontracting work to a vendor.
1
Display the Card Information window of the vendor or
employee. Then do the following:
„ Vendor cards—click the Buying Details tab.
„ Employee cards—click the Payroll Details tab and then
click Time Billing.
139
2
Type the hourly billing rate, excluding tax, for the vendor or
employee in the Vendor Billing Rate field or the Employee
Billing Rate field.
3
In the Cost per Hour field, type the hourly cost to you of
having the vendor or employee perform the activity.
4
Click OK.
2
Click New. The Activity Information window appears.
Creating activities
The term activity is used to describe a task or service provided by
your business for which you can track costs and bill customers
using time billing invoices. Activities are primarily defined by their
type—hourly or non-hourly—and whether they are chargeable
or non-chargeable.
To create an activity
1
140
Go to the Time Billing command center and click Activities
List. The Activities List window appears.
CHAPTER 8
BILLING FOR TIME
3
In the Profile view, enter an ID for the activity in the Activity
ID field and press TAB.
4
In the Activity Name field, type a name for the activity.
5
In the Description field, type a description of the activity.
6
If you want the description of the activity (rather than the
activity name) to appear on time-billing invoices, select the
Use Description on Sales option.
7
Select the type of activity (hourly or non-hourly) and the
status (chargeable or non-chargeable) of the activity by
selecting the appropriate options.
For this
type...
And this
status...
Hourly
Chargeable
8
In the Income Account field, select the account you want to
use to track the income you receive for this activity.
9
If you want this activity to be taxed when sold, select the
Taxable when Sold option.
10
Click OK. The new activity will now be listed in the Activities
List window.
Do this...
To change, inactivate, or delete an 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 on
the employee or vendor
card
• use the rate you set up on
the customer card
• type a rate that will apply
to this activity only in the
Activity Rate field.
„
To change details of an activity, see ‘Changing a record’ on
page 179.
„
To inactivate an activity, see ‘Inactivating or reactivating a
record’ on page 179.
„
To remove an activity from your records, see ‘Deleting a
record’ on page 180.
Hourly
Non-chargeable
Go to step 10.
Non-hourly
Chargeable
Enter a unit of measurement
in the Unit of Measurement
field and an activity rate in the
Activity Rate field.
Non-hourly
Non-chargeable
Specify the unit of
measurement in the Unit of
Measurement field and then
go to step 10.
CREATING ACTIVITIES
The default unit of measurement for hourly activities is Hour.
If you specified a special billing unit of time in the System
view of the Preferences window, this field will still be
displayed as Hour, but time will be billed according to the
special billing unit.
141
Creating activity slips
Activity slips are used to record time-based activities performed
for a customer and form the basis for the invoices that you send
that customer.
3
You can invoice the full amount for the activity or invoice part of
it, leaving the balance for a later date.
NOTE : Units field refers to time billing units The Units field
shows time billing units as you have set them up in the System
tab of the Preferences window. For example, to bill an hour,
you need to enter four billable units of 15 minutes.
You can create an activity slip in three ways:
„
create a single activity slip, which allows you to enter the
most detail about the activity slip
„
create multiple activity slips, which allows you to enter
multiple activity slips at once, while not entering as much
detail for each.
„
create a timesheet, which allows you to enter the hours per
day an employee spends to complete work for clients and
customers, while automatically creating an activity slip. For
more information, see ‘Timesheets’ on page 121.
In the appropriate fields enter details about the activity, such
as employee name, customer name, activity slip ID number,
and the number of units to be charged.
You can also create a timesheet entry by assigning an hourly
payroll category to an activity slip.
When you create an activity slip, you can select two cards—one
for the employee or vendor who performed the activity for your
company and the other for the customer for whom your
company performed the activity. If you are creating an activity
slip for a chargeable activity, you must enter both cards.
If you click the Multiple Activity Slips tab while
creating an activity slip and you have entered the minimum
required information in the Activity Slip view, the activity slip is
automatically recorded.
NOTE :
To create an activity slip
4
142
1
Go to the Time Billing command center and click Enter
Activity Slip. The Enter Activity Slip window appears.
2
Click the Activity Slip tab.
In the Adjustment fields, enter any adjustments to the hours
or the amount of the activity, or both. You need to enter
adjustment units or amounts as negative numbers if you want
to reduce hours or an amount.
CHAPTER 8
BILLING FOR TIME
5
In the Already Billed field, enter any hours or amounts
already billed.
For example, if you have partially billed the customer on an
invoice for this activity, either type the number of hours
already billed (and the amount field will automatically be
updated), or type the amount they have already been billed
for. Your entry is subtracted from hours and amounts in the
Billable field. The units and amount that you haven’t billed,
appear in the Left to Bill fields.
Billing an activity slip ‘Billing’ an activity slip means
recording a time billing invoice for the activity slip. If you enter
units or an amount in the Already Billed fields of the Enter
Activity Slip window, the amount won’t appear in the sales
journal or in the activity’s history. It will only be recorded for the
activity slip.
NOTE :
6
If you pay the employee for the activity performed (hourly
activities only):
a Select the Include Hours on Timesheet option.
b Enter an hourly wage payroll category in the Payroll
Category field.
The activity hours (units) recorded for this activity are
assigned to this wage payroll category on the employee’s
timesheet.
To create an activity slip using the timer
The Enter Activity Slip window has a timer that allows you to
record the time you spend performing an activity. When you
have completed the activity, the information is already in the
Enter Activity Slip window, eliminating extra data entry.
The timer appears 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
software or access other windows during this time.
1
Go to the Time Billing command center and click Enter
Activity Slip. The Enter Activity Slip window appears.
2
Type or select the employee or vendor name, date, and
customer name.
3
In the Activity field, type or select an hourly activity ID
number. The timer fields appear at the bottom of the
window.
4
Click Start to start the timer. If you don’t enter a start time in
the Start Time field, your computer’s current system time
appears, and the timer starts incrementing the time in the
Elapsed Time field.
Entering a start time that is before current system
time If you enter a start time that is before the current system
time, the difference will be added to the elapsed time measured
by the timer. For example, if you entered 8:00 a.m. in the Start
Time field and then clicked Start at 9:00 a.m., 1:00:00 will
appear in the Elapsed Time field and the time calculated by the
timer will be added to that amount.
NOTE :
Activity hours are assigned to timesheets on the
activity slip date When you record the activity slip, the
activity hours are assigned to the employee’s timesheet on
the date entered on the activity slip. If you want to record
activity hours over a number of days or pay periods, you
need to record the hours in the Enter Timesheets window
(see ‘Timesheets’ on page 121).
NOTE :
7
Click Record. The activity slip is now recorded.
If you entered a chargeable activity on the activity slip, the
activity becomes available for billing in the Prepare Time
Billing Invoice window.
CREATING ACTIVITY SLIPS
Leave the Enter Activity Slip window open as you perform
the activity.
5
When you have completed the activity or if you want to pause
the timer, click Stop. The current system time appears in the
143
Stop Time field. The number of billing units corresponding to
the elapsed time appears automatically in the Units field.
Creating multiple activity slips
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.
In addition to being able to create single activity slips, you can
also create multiple activity slips simultaneously. In the Multiple
Activity Slips tab of the Enter Activity Slip window, one line in
the list represents one activity slip. Although this view limits the
amount of detail you can enter on the activity slip, you can view
any activity slip in the Activity Slip view and enter more detail at
a later stage.
You can round your timer entries in the Units field
automatically. See ‘Setting time billing preferences’ on
page 138.
6
7
If you want to resume timing an activity, click Start again. The
entry in the Stop Time field will be cleared. The timer will
continue incrementing, starting from your current elapsed
time.
[Hourly activities only] If you pay the employee for the activity
performed:
a Select the Include Hours on Timesheet option.
b Enter an hourly wage payroll category in the Payroll
Category field.
The activity hours (units) recorded for this activity are
assigned to this payroll category on the employee’s
timesheet.
Activity hours are assigned to timesheets on the
activity slip date When you record the activity slip, the
activity hours are assigned to the employee’s timesheet on the
date entered on the activity slip. If you want to record activity
hours over a number of days or pay periods, you need to record
the hours in the Enter Timesheets window (see ‘Timesheets’ on
page 121).
NOTE : The Multiple Activity Slips view can’t be used to add
activity hours to a timesheet In the Multiple Activity Slips view,
you can’t choose to include an activity’s hours on a timesheet.
To create multiple activity slips
1
Go to the Time Billing command center and click Enter
Activity Slip. The Enter Activity Slip window appears.
2
Click the Multiple Activity Slips tab.
3
In the Employee or Vendor field, type or select the name of
the employee (or vendor) performing the activity. Any activity
slips you have already created for the employee or vendor are
listed, with each line representing a single activity slip.
4
On the first blank line, enter details of an activity.
5
Press TAB or click Record to record the activity slip and move
the insertion point to the next line where you can begin
creating a new activity slip.
NOTE :
Activity slips are recorded as you create them Once
you have entered an activity slip and pressed TAB to move to the
next line, the activity slip is recorded. Even if you click Cancel
after moving to the next line, the first activity slip will be still
recorded. A zoom arrow ( ) displayed next to an activity slip
indicates that the activity slip has been recorded.
NOTE :
8
When you have completed the activity, click Record.
If you entered a chargeable activity on the activity slip, the
activity becomes available for billing in the Prepare Time
Billing Invoice window.
To reset the timer
™ Click Clear at any time to clear the Elapsed Time, Start Time,
Stop Time and Units fields.
144
6
Repeat from step 3 for each activity slip you want to create.
When you have recorded all the activity slips you want, click
Cancel to close the window.
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BILLING FOR TIME
Reviewing and changing activity slips
If you want to review, edit, or delete an activity slip, follow the
relevant procedures below.
To change an activity slip
1
Find and select the activity slip you want to change in the
View Activity Log window and then click Edit. The activity
slip appears in the Enter Activity Slip window.
2
Make the required changes either in the Activity Slip view or
the Multiple Activity Slips view and click OK or Record.
To review an activity slip
1
Go to the Time Billing command center and click Activity
Log. The View Activity Log window appears.
2
Type or select 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
match the criteria are listed.
To delete an activity slip
You can only delete an activity slip that has not been billed.
3
Click the Diary View tab and the Detail View tab to display
different information about the activity slip.
1
Find and select the activity slip you want to delete in the View
Activity Log window.
4
Select the activity slip you want to view and click Edit. The
Enter Activity Slip window appears with details of the
activity slip.
2
Go to the Edit menu and choose Delete Activity Slip.
NOTE : Deleting activity slip details in timesheets When you
remove timesheet entries with activity slip details, the linked activity
slip is also removed.
Creating time billing invoices
There are two ways you can create a time billing invoice:
„
In the Prepare Time Billing Invoice window. This is the
recommended method because the full details of activities
and activity slips are recorded. See ‘To create a time billing
invoice using the Prepare Time Billing Invoice window’ on
page 146.
REVIEWING AND CHANGING ACTIVITY SLIPS
„
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 147.
145
To create a time billing invoice using the Prepare Time
Billing Invoice window
B
The Prepare Time Billing Invoice window allows you to enter
and adjust the billing information for activity slips. As you make
changes in the Prepare Time Billing Invoice window, your
activity slip records are updated automatically.
C Adjustment
Enter any adjustments you want to make for
each activity slip here.
D Print Options
Select the relevant print options:
• 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.
1
Go to the Time Billing command center and click Prepare
Time Billing Invoice. The Time Billing Customers window
appears.
Including items on time billing invoices If you charge
your customers for both activities and items on a single invoice,
you need to select the I Include Items on Time Billing Invoices
option in the Preferences window. See ‘Setting time billing
preferences’ on page 138.
NOTE :
2
Find and select the customer for whom you want to create a
time billing invoice and click OK. The Prepare Time Billing
Invoice window appears, listing all the open activity slips for
the selected customer.
A
B
C
Bill
Type 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.
3
Click Prepare Invoice. The Sales - New Time Billing window
appears with the details of the time billing invoice.
4
If you have selected the I Include Items on Time Billing
Invoices option in the Preferences window, you can also
enter items on this invoice. See ‘Setting time billing
preferences’ on page 138
Enter the following details for each item:
„ the date in the Date field
„ the quantity being sold in the Hrs/Units field
„ the item number in the Activity field
„ the price of the item in the Rate field
„ [optional] the job number in the Job field.
„ the appropriate tax code in the Tax field.
D
A
146
Filters
Use these filters to find the required activity
slips.
CHAPTER 8
BILLING FOR TIME
Note that no activity slips are created when you use the
recurring sale in the future. Also, recording the recurring
sale will not update the activity slips you used to create the
invoice in the Prepare Time Billing Invoice window.
For more information about recurring transactions, see
‘Recurring transactions’ on page 189.
To create a time billing invoice in the Sales window
5
If you want to group and subtotal the items and activities
separately on the invoice, you can do so by inserting headers,
blank lines and subtotals. For more information, see ‘Adding
and deleting transaction lines, subtotals, and headers in sales
transactions’ on page 75.
6
Enter additional information about the sale, such as the
salesperson, referral source, and invoice delivery status.
7
Complete the invoice in one of the following ways:
„ Record the invoice. Click Record to record the invoice
without printing.
„ Print and record the invoice. Click Print and then choose
the form you want to use for this invoice. For more
information about printing invoices, see ‘Sending forms’
on page 206. Note that the invoice is recorded before it is
printed.
„ Save the invoice as a recurring template. Click Save as
Recurring. Enter the necessary information about the
template in the Edit Recurring Schedule window and click
Save.
CREATING TIME BILLING INVOICES
NOTE : Activities billed using this procedure will not appear in
most time billing reports If you use this method to create a time
billing invoice, no activity slip records will be created. Most time
billing reports are based on activity slip records, therefore, if you
want to print time billing reports, you should create activity slips
(see page 142) and then use the Prepare Time Billing Invoice
window to create the invoice (see ‘To create a time billing invoice
using the Prepare Time Billing Invoice window’ on page 146).
1
Go to the Sales command center and click Enter Sales. The
Sales window appears.
2
In the Customer field, type or select the customer you want
to invoice.
3
Click Layout. The Select Layout window appears.
4
Click Time Billing to select the Time Billing layout and then
click OK.
5
For each billable activity, enter:
„ the date the activity was performed in the Date field
„ the number of units or hours being billed in the Hrs/Units
field
„ the activity name in the Activity field: either type it or press
TAB and select it from the list
„ the rate charged for a single unit or hour of the activity in
the Rate field
„ [Optional] the job number in the Job field and then click in
the Tax field if you need to add tax.
147
6
If you have selected the I Include Items on Time Billing
Invoices option in the Preferences window, you can also
enter items on this invoice. See ‘Setting time billing
preferences’ on page 138
Enter the following details for each item:
the date in the Date field
„ the quantity being sold in the Hrs/Units field
„ the item number in the Activity field
„ the price of the item in the Rate field
„ [Optional] the job number in the Job field and then click in
the Tax field if you need to add tax.
„
7
If you want to group and subtotal the items and activities
separately on the invoice, you can do so by inserting headers,
blank lines, and subtotals. For more information, see ‘Adding
and deleting transaction lines, subtotals, and headers in sales
transactions’ on page 75.
8
Enter additional information about the sale, such as the
salesperson, referral source, and invoice delivery status.
9
Complete the invoice in any of the following ways:
„ Save the invoice as a recurring template. Click Save as
Recurring. Enter the necessary information about the
template in the Edit Recurring Schedule window and click
Save. For more information about recurring transactions,
see ‘Recurring transactions’ on page 189.
„ Record the invoice. Click Record to record the invoice
without printing.
„ Print and record the invoice. Click Print and then choose
the form you want to use for this invoice. For more
information about printing invoices, see ‘Sending forms’
on page 206. Note that the invoice is recorded before it is
printed.
Work in progress
Work you have done for your clients that you haven’t billed yet is
called work in progress. Work in progress is indicated on activity
slips by a value other than zero in the Left to Bill field.
Your accounting records will only reflect a sales transaction when
you bill the activities. However, some accountants consider that,
from an accounting perspective, your clients owe you for your
work in progress even if you haven’t yet billed your clients for it.
If your work in progress routinely represents a significant amount
of money, you should consider adjusting your accounting
records to reflect it. Consult your accountant for advice on how
to do this.
148
CHAPTER 8
BILLING FOR TIME
Inventory
INVENTORY
9
The inventory feature enables you to track the quantity and value of the items you buy, sell, and build. You can also:
„
compensate for inventory variations. For example, you may find that, from time to time, your recorded inventory levels differ from what is on
the shelves. These variations can be caused by data-entry errors, spoilage, and theft, etc.
„
revalue your inventory. Sometimes the quantity of items recorded may be correct, but their values are incorrect. For example, a range of items
may become outdated.
„
track the assembly of individual items into finished items. Many retailing and manufacturing businesses combine a number of inventory items
to create finished items. For example, a retailer may combine a bottle of perfume, lotion, and bath salts to make up a gift pack.
Creating items
Before you begin to track your inventory, you need to create a
record for each item of inventory. An item can be:
„
a physical unit that your company may buy, sell, or inventory
„
a service that your company wants to include on item
invoices, for example, ‘Shipping’, ’Handling’, and so on.
When you create an item record, you can choose to buy, sell, or
inventory the item. These selections determine what functions
you can use the item with. For example, if you want to include a
service item on an invoice (such as installation), you need to
specify that you sell the item.
An item that you inventory is an item whose quantities and values
you want to track. Maintaining an accurate record of on hand
levels of these items requires you to do regular maintenance
tasks. For example, you may need to record an inventory
adjustment to write-off damaged stock.
149
Select...
For...
I Buy this Item
Items or services you want to include on an
item purchase order.
This includes items that are not for resale, and
you don’t need to track their quantities and
values. For example, items for office use only.
It can also include raw materials you use as
components to build other inventory items.
I Sell this Item
Items or services you want to include on an
item invoice.
I Inventory this Item
Items you buy or sell and whose quantity and
values you want to track.
It can also include intermediate goods used in
the productions process, such as parts used to
manufacture finished goods.
Inventory opening balances If you have existing on-hand
quantities of inventory items, you need to record the opening
inventory level for each item. For more information, see ‘Enter
your inventory opening balances’ on page 42.
To create an item
1
Go to the Inventory command center and click Items List.
The Items List window appears.
2
Click New. The Item Information window appears.
3
In the Item Number field, type a unique identifier and press
TAB.
5
Specify whether you buy, sell, and inventory this item by
selecting the relevant options.
As you select the options, fields appear next to them. These
fields change according to the combination of selections you
make.
6
Use the backslash character for service items The
backslash character (\) serves a special purpose: any item
number that begins with a backslash won’t appear on printed
forms. This is useful for service-type items (such as labor) for
which you don’t want to print an item number on the invoice.
Enter the appropriate accounts in the fields that appeared
during the previous step:
Account
Description
Cost of Sales
Account
Type or select the account you want to use
to track the costs associated with producing
this item.
Income Account
for Tracking Sales
Type or select the account you want to use
to record the income you receive from the
sale of this item.
Asset Account for
Item Inventory
Type or select the account you want to use
to record the total value of this item.
Expense Account
for Tracking Costs
Type or select the account you want to use
to record costs associated with purchasing
this item.
TIP :
4
In the Name field, type the name of the new item.
Copy From button Click Copy From 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 number,
auto-build information and history information.
NOTE :
150
7
If you want to check the spelling in the Name field, click
Spell. For more information, see ‘Spell-check’ on page 18.
CHAPTER 9
INVENTORY
8
Click the Buying Details tab. The Buying Details view of the
Item Information window appears. Complete the fields as
explained below.
D
Enter the restocking information:
• Type the minimum level of this item you want to keep in
inventory. When the number of items drops below this
level, a reorder reminder appears in the To Do List.
• Type or select the vendor from whom you usually re-stock
this item.
• Type the vendor’s number for the item.
• Type a reorder level quantity for the item. If you set a
minimum level for restocking alert, you can create an
order for the items using the Stock Alert tab in the To Do
List. The default order quantity is taken from this field.
E
If you pay sales tax when you purchase this item, select this
option.
A
B
C
D
9
E
A
Click the Selling Details tab. The Selling Details view of the
Item Information window appears. Complete the fields on
this tab as explained below.
[Optional] Type the standard cost of an item.
You can use the standard cost instead of the last purchase
price as the default price on purchases. To use the standard
cost price as the default price, select Use Standard Cost as
the Default Price on Purchase Orders and Bills preference in
the Preferences window (Inventory tab).
B
Type the unit of measure (such as each or case) by which you
purchase the item. The buying unit is printed on the purchase
order. For example, if you buy eggs by the carton, when you
order five units in a purchase you are ordering five cartons.
C
Type the number of items that comprise a single buying unit.
This is the number that is added to your on-hand inventory for
every buying unit. For example, if you buy eggs by the carton
unit but want to track their purchase individually, enter 12 as
the number of items per buying unit. When you order one
carton unit, your item inventory is updated by twelve items. If
you leave this field blank, the value defaults to one.
CREATING ITEMS
A
B
C
D
E
A
Type the retail price of one selling unit.
B
Type the selling unit of the item (such as each or case). You can
type 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
151
C
Type the number of items that comprise a single unit in this
field. This is the number that is subtracted from your on-hand
inventory for every selling unit. For example, if you sell by the
six-pack, enter 6 as the number of items per selling unit. When
you sell one six-pack, your inventory is reduced by six items.
D
Set pricing levels for different kinds of customers. See ‘Creating
custom price levels’ on page 162.
E
If you collect sales tax when you sell this item, select this option.
10
Click the Items Details tab and enter additional information
about the item.
11
If this item is stored in multiple locations, click the Locations
tab and select the default location for buying and selling the
item. For information about locations, see ‘Inventory
locations’ on page 154.
12
Click OK.
Average Cost, Last Cost, and Standard
Cost
Average Cost is calculated as the total cost of an item (the total
amount you have paid to purchase the item or the cost entered
when you transferred the item into inventory) divided by the
number of units of that item you have on hand.
Last Cost is the most recent purchase price for the item.
Standard Cost can be used instead of the last purchase price as
the default price on purchases. To use the standard cost price as
the default price, select Use Standard Cost as the Default Price
on Purchase Orders and Bills preference in the Preferences
window (Inventory tab).
Making inventory adjustments
From time to time you may need to adjust item quantities and
values. For example, if your inventory gets damaged, you may
have to write off some of your inventory or revalue it.
This section explains how to make a one-off adjustment to a
single item or a few items. If you need to update the quantities of
several items, see ‘Counting inventory’ on page 158.
152
For examples of common inventory adjustments, see ‘Examples
of inventory adjustments’ on page 153.
NOTE : Print the Items List Summary report
When making
inventory adjustments, you may find it useful to print the Items List
Summary report. This report displays on-hand quantities and values
of items in your MYOB software.
CHAPTER 9
INVENTORY
To make an inventory adjustment
1
Go to the Inventory command center and click Adjust
Inventory. The Adjust Inventory window appears.
2
Enter details of the adjustment.
A
3
B
C
D
Examples of inventory adjustments
The following are some examples of inventory adjustments.
Example 1a This inventory adjustment increases the number
of items on hand by two and the total value of the items on hand
by $700.
E
F
A
Select the item number for the item you want to adjust. To do
this, click in the Item Number column, press TAB, and then
select the item from the list that appears.
B
If you hold inventory at multiple locations, select the location
where the item is stored.
This field only appears if you have more than one location. For
more information, see ‘Inventory locations’ on page 154.
C
Type the quantity by which you want to increase or decrease
the quantity held. Only type the quantity variation.
Type the quantity in inventory units, not buying or selling units.
If you enter a positive number, that number is added to your
on-hand inventory. If you enter a negative number, that
number is subtracted from your on-hand inventory.
D
The average cost of the item appears by default. The average
cost is normally calculated as the total cost of the item divided
by the number of units on hand, but if these are new items,
type their purchase cost.
E
The Amount field displays the quantity multiplied by the unit
cost. If you change it, the unit cost is recalculated automatically.
F
The allocation account is usually a cost of sales or expense
account.
Example 1b This inventory adjustment increases the number
of items on hand by two but does not adjust the total value of the
items. The average cost of the items will decrease as a result of
this adjustment.
Example 2 This inventory adjustment increases the total value
of the items on hand by $120 but does not change the number
of items on hand. The average cost of the items will increase as a
result of this adjustment.
Click Record to save the inventory adjustment.
MAKING INVENTORY ADJUSTMENTS
153
Inventory locations
If you hold inventory at several locations, you can keep track of
item quantities held at each location by recording:
„
the location at which a purchased item is received (see
‘Entering purchases’ on page 93)
„
the location from where a sold item is shipped (see ‘Entering
sales’ on page 71)
„
To create an inventory location
1
Go to the Inventory command center and click Locations.
The Locations List window appears.
2
Click New. The Location Information window appears.
3
In the Location ID field, type an identifier (of up to ten
characters) for the new location and press TAB.
4
Enter the name and address of the location and contact
details.
5
If you do not sell items from this location (for example, this
location is your storage warehouse), select the Items cannot
be sold or shipped from this location option.
the movement of items between locations (see ‘Recording
inventory movements between locations’ on page 155).
The locations feature is optional. If you don’t track inventory
quantities and values, or all your inventory is held at one location,
there’s no need for you to use this feature.
If you want to use multiple locations, you need to create a record
for each inventory location. After you create your first location, a
Location field is added to the Purchases and Sales windows.
When you record an item purchase or sale, you enter the
receiving or selling location for the item in this field.
If you want to, you can record a default receiving and selling
location for your items. For more information see ‘Creating items’
on page 149.
Primary location The primary location is automatically created
in your company file. When you set up multiple locations, your
existing inventory is assigned to this location. You can change the
primary location ID and name, if you want, but you cannot delete
it. For instructions on how to move items from the primary
location to another location, see ‘Recording inventory
movements between locations’ on page 155.
154
If you select this option, you can only receive items at this
location or move items to and from this location using the
Move Items window.
CHAPTER 9
INVENTORY
6
7
Click OK. The new location appears in the Locations List
window.
To record inventory movements
1
Go to the Inventory command center and click Move Items.
The Move Items window appears.
2
Select the item you want to move. You can locate an item by
scrolling or by typing the item number in the Search field.
3
Record the quantities held at each location.
Click Close.
Recording inventory movements
between locations
You use the Move Items window to record the movement of
inventory between your locations.
Although a transaction is not created when you move inventory
items, you can display the Item Movement report to view the
details of inventory movements.
Moving an item using the Item Information window You
can also open the Move Items window from an item record. Open
the Item Information window for the item and click Move Items in
the Location tab. The Move Items window appears.
A
C
A
The On Hand column shows the total quantity available in
your inventory across all locations.
B
Type the quantity held at each location. Increase the quantity
for locations receiving items and reduce the quantity for
locations where items are moved from.
C
The value in the Out of Balance field must be zero before you
can record the movement. That is, the amount in the On
Hand column for the item must be equal to the sum of the
amounts in your location columns.
TIP :
INVENTORY LOCATIONS
B
155
Building items
Building items is the process of taking two or more items, known
as components, to make up another item, known as a finished
item.
4
If you store an item at multiple locations, select the location
where the item is held. Note that this field only appears if you
use more than one location in your company file.
You do this by transferring the inventory quantities of the
components to that of the finished item. For example, you could
transfer the inventory quantity of timber and fabric (component
items) to furniture (the finished items).
5
Click Record to save the inventory transfer.
You can build items in two ways:
„
manually, for a one-off transfer of inventory. See ‘To build
items manually’ below.
„
automatically, for a transfer you make repeatedly. See
‘Auto-building items’ below.
Note that before you can build a finished item, you need to
create an item record for it.
Auto-building items
For items that you repeatedly build, you can use the Auto-Build
function to build the finished items.
Before you can build a finished item using the Auto-Build
function, you need to define what items are needed to build the
item.
TIP : Auto-build from the To Do List You can also auto-build
items using the To Do List. In the Stock Alert view of the To Do
List, select the items you want to build and click Order/Build.
To build items manually
1
Go to the Inventory command center and click Build Items.
The Build Items window appears.
2
Type or select the item numbers of the finished item you want
to make and the component items you want to transfer.
3
Type the transfer quantity. Type a positive number for the
finished item (this number is added to your on-hand
inventory). Type a negative number for the component items
(this number is subtracted from your on-hand inventory).
The value in the Amount field must be zero before you can
record the transaction. That is, the amount in the Amount
column for the finished item must be equal to the sum of the
amounts in the Amount column for the components.
156
To define an Auto-Build item
1
Go to the Inventory command center and click Items List.
The Items List window appears.
2
Click the zoom arrow ( ) of the item you want to build. The
Item Information window appears.
3
Click the Auto-Build tab.
4
In the Minimum Level for Restocking Alert field, type the
minimum level of the item you want to have in inventory.
5
Click Edit List. The Auto-Build Information window
appears.
CHAPTER 9
INVENTORY
6
7
In the List what it takes to build field, type the number of
item units you want to be made. If bulk quantities of materials
are purchased to build an item, it may be easier to specify the
materials required to build a greater quantity of the item,
such as 10 or 20.
Enter the details of each of the components required to build
the item.
a Click in the Item Number column and press TAB. Your
items list appears.
b Select a component item required to build the new
finished item and then click Use Item. The details of the
component appear in the Item Number and Name
columns.
c In the Quantity column, type the number of component
items required to build the specified quantity of the
finished item.
d Repeat from step a for each component required to build
the new finished item.
8
When you have entered all the components, click OK. The
Item Information window reappears.
9
Click OK and then click Close to return to the Inventory
command center.
BUILDING ITEMS
To auto-build an item
1
Go to the Inventory command center and click Auto-Build
Items. The Auto-Build Items window appears.
C
A
B
A
This column displays all items that you have designated as
finished items.
B
The On Hand, On Order and Net on Hand columns show the
current record of your finished items.
C
Type the quantity of finished items you want to build in the
Qty. to Build column. (Click None if you want to change all
numbers in this column to zero.)
157
2
Click Build Items to begin transferring component items to
finished items. The Build Items window displays the details of
the transfer that will occur when the finished item is built.
3
Review the entries in this window to make sure that the
quantities, unit costs, and total inventory values are correct.
Note that the quantities of the components in the list appear
as negative numbers, while the quantities of the finished
items in the list are shown as positive numbers.
4
Click Record to update your inventory quantities and values.
Counting inventory
such as loss or shrinkage. For more information, see ‘Building
items’ on page 156.
When you set up your company file, you may have entered your
opening inventory quantities using the Count Inventory.
You can also use the Count Inventory window to make
adjustments to item quantities during regular inventory counts or
any time you find discrepancies between the actual quantities of
items on hand and your records of those quantities.
Each inventory adjustment must be allocated to an account so
your accounting records accurately reflect the reasons for the
adjustment. For example, many businesses use an expense
account called ‘Shrinkage/Spoilage’ to track loss or theft of their
items.
Before you record an inventory count
„
158
Make sure you record all built items before counting your
inventory. Otherwise, a missing inventory item that was used
to build another item will be accounted for as an expense,
„
Count the actual items in your inventory. You can print the
Inventory Count Sheet report, which lists all your inventory
items, and manually record your actual items on this.
Inventory-count report options You can print the
Inventory Count Sheet either by clicking Print in the Count
Inventory window or, if you want to set filters, from the Index
to Reports window.
NOTE :
To record an inventory count
1
Go to the Inventory command center and click Count
Inventory.
2
If you have inventory at multiple locations, filter the list as
required.
CHAPTER 9
INVENTORY
3
Click Print to print the Inventory Count Sheet.
4
Manually count your inventory and note down the quantities
on the Inventory Count Sheet.
5
In the Count Inventory window, type the actual quantities of
the inventory items in the Counted column. If an item is held
in multiple locations, enter the stock held at each location.
Any discrepancy between the counted quantity and the
on-hand quantity appears in the Difference column.
6
Click Adjust Inventory. If there are differences between
on-hand and counted values, the Adjustment Information
window appears.
If you use the same account to track adjustments for all items,
you can select a default adjustment account for tracking 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 should be an expense
account such as Shrinkage/Spoilage. It should not be your
inventory asset account.
7
Click Continue. The Adjust Inventory window appears,
displaying a line item for each adjustment you entered in the
Count Inventory window in step 5.
If you entered a default adjustment account at step 6, that
account appears in the Account column for each line item.
If you didn’t enter a default adjustment account, enter an
account against each item listed.
8
[Optional] Enter a reason for the adjustment in the Memo
column (for example, Annual inventory count 2008).
9
Click Record to update your inventory.
Reviewing your inventory information
The following tools help you review your inventory information.
Tool
Description
See
To Do List
Displays an alert for items that need to
be purchased or built.
page 160
Analyze
Inventory
Gives you a list of your items showing,
for each one, the number on hand, the
number committed and the number
on order. If you use multiple locations
for inventoried items, you can group
the items by number or location.
page 160
Inventory reports help you keep track
of your item quantities and value.
page 160
Inventory
reports
REVIEWING YOUR INVENTORY INFORMATION
Tool
Description
See
View history
You can view the sales and purchase
transaction histories of an item or
vendor for seven years.
page 161
Find
Transactions
Find Transactions helps you find
inventory transactions.
page 184
Items
Register
Gives you a list of your inventory
transfers, adjustments, sales, and
purchases for all items, or it can be
filtered to show the history of a single
item.
page 185
Transaction
Journal
Lists journal entries of your inventory
transactions.
page 186
159
To view a list of all items that need to be built or
purchased
This analysis is based on all the sales and purchases recorded in
your company file.
The Stock Alert view of the To Do List displays all items that
need to be built or purchased to fulfill customer orders.
1
Go to the Inventory command center and click Analysis. The
Analyze Inventory window appears.
In this window, you can automatically record a transaction for the
items that you need to buy or build. You can also change the
details of an order or auto-build transaction.
2
Display the required view of the Analyze Inventory window.
The Summary view displays all inventoried items, while the
Item Number view displays all the customer and vendor
orders for a selected item.
1
Click To Do List from any command center. The To Do List
window appears.
2
Click the Stock Alert tab. A list of all items that need to be
ordered or built appears.
The On Hand column shows the quantity of each item
actually on hand. The On Order column shows the quantity
of each item already on order. The Committed column
shows the quantity of an item on backorder for customers.
3
If you want to automatically order or build items:
a Click the select column ( ) next to each item you want to
build or order and then click Order/Build. A date window
appears with the current date displayed.
b If you want, enter a different date and click OK.
An order will automatically be created for the items that
need to be purchased. The restocking information entered
in the Buying Details tab view of the Item Information
window is used to determine the vendor and quantity to
order or the items to build.
„ If you want to change the details of an order or auto-build
transaction, click the Order or Build zoom arrow ( ) next
to the item. Complete the transaction in the window that
appears.
To analyze inventory
The Analyze Inventory window gives you detailed information
about how much inventory you have on hand, what is
committed, what is on order, and what is available.
160
If you use multiple locations to store your inventoried items,
the Group by Item view displays all inventoried items
grouped by the item number. The Group by Location view
displays all inventoried items grouped by location, while the
Item Number view displays all the customer and vendor
orders for a selected item.
To view inventory reports
The following reports help you to keep track of your inventory.
„
Analyze Inventory Summary report. The summary and
detailed versions of this report serve as your order book. You
can view a list of all your sales orders and purchase orders for
all or selected items.
„
Items List Summary report. This report shows information
about your items, including their on-hand quantities and
total value. The Items List Summary report also shows an
item’s current average cost price, which is important to know
when making inventory adjustments. You can use this report
to compare your total inventory value to the total of your
inventory asset accounts.
„
Price Summary report. This report lists your item prices, and
is useful for sending to your customers. You could also
convert this report to HTML and post your price list on an
intranet or Internet site.
For more information about reports, see Chapter 13, ’Reports,’
starting on page 195.
CHAPTER 9
INVENTORY
To view sales and purchases history for an item
1
Go to the Inventory command center and click Items List.
The Items List window appears.
2
Click the zoom arrow ( ) next to the item you want to view.
The Item Information window appears.
3
Click the History tab. The History view displays the purchase
and sales history for the item for seven years: five past years,
the current year, and the next year.
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.
Setting item prices
You can set the default selling prices of the items you sell in the
Set Item Prices window. Then, if required, you can change the
prices at the point of sale, which overrides the default prices for
that sale only.
To change the price of an item
1
Go to the Inventory command center and click Set Item
Prices. The Set Item Prices window appears.
You can enter unit prices with up to four decimal places. On
your invoices, the unit price is multiplied by the quantity sold
and the result is rounded to two decimal places.
3
Click OK.
To update the prices of multiple items at once
1
Go to the Inventory command center and click Set Item
Prices. The Set Item Prices window appears.
2
Click the select column (
price update.
3
Click Shortcuts. The Pricing Shortcuts window appears.
) next to the items that require a
If an item is not listed, it means that you haven’t selected the
I Sell This Item option on the Profile tab of the Item
Information window.
SETTING ITEM PRICES
161
4
Indicate how you want the price rounded, the basis for
calculating the price, and so on. For example, if you want to
mark up the items’ prices by 10%, select the Percent Markup
option, and type 10 in the adjacent field.
5
If you want to:
„ update the items you selected in step 2 on page 161, click
Update X Items Only
„ update the prices of all items, click Update All Items.
Customizing inventory
Your MYOB software provides a number of inventory
customization features:
„
Custom price levels You can assign up to six price levels to
different types of customers. For example, you can set
different price levels for your wholesale and retail customers,
or your casual and long-term customers.
You can also set up to five quantity breaks for each customer
type and offer a discounted price for each break. For example,
you might have quantity breaks for five, ten, twenty, fifty, and
one hundred. For each of these breaks you can set six
different price levels. You can then charge, say, all your
regular customers increasingly lower prices if they purchase
larger and larger quantities of the item.
162
„
Custom fields You can ensure certain information is always
recorded for an item, such as Warranty, Serial Number, and
Voltage. Use these fields for information that you don’t need
to use as report filters.
„
Custom lists You can record information about an item and
then run reports based on the custom lists. 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
Your MYOB software has a pricing matrix for you to structure
your pricing according to customer status and sales quantities.
For example, a level-three customer might pay $140 for a single
quantity of the item, but if they purchase five units of the item,
they will only have to pay $100 each for them.
Volume discount The volume in the Volume Discount %
field in the Selling Details view of a customer’s card applies to a sale in
addition to the quantity-break price levels you set up.
NOTE :
To name your price levels
1
Go to the Lists menu, choose Custom Lists & Field Names
and then Price Levels. The Custom List and Field Names
window appears.
2
Enter names for the price levels. These names will appear in
the Selling Details view of the Item Information window.
3
Click OK.
To specify price levels and quantity breaks for an item
1
Go to the Inventory command center and click Items List.
2
Select the item and click Edit. The Item Information window
for the item appears.
CHAPTER 9
INVENTORY
3
Click the Selling Details tab.
2
The base selling price you entered for this item in the upper
section of the Selling Details view appears at Level A (or
whatever you have chosen to label this field).
4
In the remaining fields (Levels B to F, or whatever you have
chosen to label them), type the selling price of this item.
Make an entry for each price level you want to use.
5
If you want to specify quantity breaks for a price level:
a Type the first quantity break in the first Over field and enter
the price for orders over the quantity break.
b In the next Over field, type the new quantity break. Assign
the price for this quantity break for each level.
c Continue to enter up to five quantity breaks and assign up
to six price levels. Note that each quantity break must be
greater than the previous quantity break and less than the
next.
In the Item Price Level field, select the price level you want to
assign to the customer.
You can assign one of the six price levels or the item’s base
selling price to the customer.
The selected price level, and any associated quantity breaks,
will now determine the price this customer is charged for the
item.
3
Click OK and then click Close.
Creating custom lists
You can create lists to sort and group your inventory items.
An example of a custom list is 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.
You can create up to three custom lists.
To name a custom list
6
1
Go to the Lists menu, choose Custom Lists & Field Names,
and then click Items. The Custom List and Field Names
window appears.
2
Enter names for each of the three custom lists in the
appropriate fields and click OK.
Click OK.
To assign a price level to a customer
1
Display the customer’s Card Information window and click
the Selling Details tab.
CUSTOMIZING INVENTORY
These custom list names will now appear on the Item
Information window.
163
To create custom list entries
1
Go to the Lists menu, choose Custom Lists and then Items.
The Custom Lists window appears.
2
Select the custom list for which you want to make entries in
the Custom List field.
To assign a custom list entry to an item
1
Go to the Inventory command center and click Items List.
2
Click the zoom arrow ( ) to the left of the item. The Item
Information window appears.
3
Click the Item Details tab.
4
Select the list entry you require from the appropriate custom
list.
5
Click OK.
Custom lists and inventory reports
3
Click New and type the name of the list entry. For example, if
you have a color list, you would type a color, such as Yellow.
You can generate reports using your custom lists as report filters.
For example, you can generate a report to include only those
items with a certain list entry, such as the color red. For more
information on setting report filters, see ‘Select the data to be
printed’ on page 199.
Printing custom list entries on purchases and invoices You
can customize your invoices and purchases to include the custom
lists. For more information, see ‘Customizing forms’ on
page 210.
4
Click OK.
5
Repeat step 3 until you have created all your list entries.
6
Click Close to close the Custom Lists window.
Creating custom fields
Custom fields can be used to record additional information about
your items. Examples of how you might name custom fields are
Warranty, ID No., and Manufacturer. However, unlike custom lists,
custom fields cannot be used to filter inventory reports.
You can create up to three custom fields.
164
CHAPTER 9
INVENTORY
To name a custom field
1
Go to the Lists menu and choose Custom Lists & Field
Names and then Items. The Custom List and Field Names
window appears.
2
In the Name of Custom Field fields, type the names and click
OK.
These field names will appear on the Item Details tab of the
Item Information window for all items.
Printing custom field entries on purchases and invoices
You can customize your invoices and purchases to include the
custom fields. For more information, see ‘Customizing forms’ on
page 210.
CUSTOMIZING INVENTORY
165
166
CHAPTER 9
INVENTORY
You can enter transactions in a number of currencies in addition to your local currency, the U.S. dollar. You can record transactions in dollars,
pounds, euros, yen, or any other currency you use when buying and selling goods and services. You can also track overseas bank accounts and
foreign assets and liabilities.
About the multiple-currency feature
Every foreign-currency account you create requires a companion
account, known as an exchange account, to track changes in the
value of the transactions assigned to the account. 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.
If you deal in multiple currencies, it’s important to track the
effects of currency exchange fluctuations on your business. Your
MYOB software 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).
Your local currency, the U.S. dollar, is automatically set up for
you. As this currency is used to determine the value of all other
currencies, it cannot be deleted and its exchange value is fixed
at 1.
The multiple-currency feature is optional. If all your business is
conducted with customers and vendors in the United States,
there’s no need for you to use this feature. If you do want to use
the multi-currency feature, you need to set a preference.
Before you begin entering transactions, you need to specify the
appropriate currency for all your overseas customers and
vendors. To ensure accurate records, and speed up entering of
transactions, only one currency can be selected for each
customer or vendor card. An additional customer or vendor card
must be created for each foreign currency used.
You will also have to perform a number of setup tasks described
in this chapter. For example, you need to set up special accounts
to track the transactions you make in each currency. If, for
instance, you plan to make sales to customers in the United
Kingdom, you will need to create a separate Accounts Receivable
account for your sales in pounds.
167
INTERNATIONAL TRANSACTIONS
10 International transactions
Setting up multiple currencies
Before you can record multiple-currency transactions, complete
the following setup tasks.
Task
3
Click OK to prepare your company file for multiple currencies.
4
Click OK to close the Preferences window.
See
Task 2: Set up records for foreign
currencies
1
Select the multiple currency option
below
2
Set up records for foreign currencies
below
3
Create accounts to track foreign-currency
transactions
page 169
MYOB software provides you with records for several commonly
used foreign currencies, as well as your local currency.
4
Assign accounts to foreign currencies
page 170
5
Assign currencies to foreign customers and
vendors
page 170
The following currencies have been set up for you already: United
States dollar, Canadian dollar, Mexican nuevo peso, European
Union euro, Great Britain pound, Australian dollar, Hong Kong
dollar, Japanese yen, and New Zealand dollar.
Once the setup is complete, you can enter foreign-currency
transactions the same way you enter transactions based on local
currency.
Task 1: Select the multiple currency
option
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
Select the I Deal in Multiple Currencies option in the
System tab. A window appears to explain the effect of
selecting this option.
If you do business in any other currency, you will need to create a
new record for the currency. Enter its current exchange rate.
Follow the instructions below.
1
Go to the Lists menu and choose Currencies. The
Currencies List window appears.
2
Click New. The Currency Information window appears.
3
Enter details of the currency such as a code, name and current
exchange rate.
At this stage, you only need to complete the Currency Profile
tab.
4
Click OK and then Close.
This selection cannot be undone Once you begin
entering multicurrency transactions, you cannot deselect this
option.
NOTE :
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CHAPTER 10
INTERNATIONAL TRANSACTIONS
Task 3: Create accounts to track
foreign-currency transactions
In order to correctly track transactions in a foreign currency, 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).
Foreign-currency accounts are automatically linked For
every foreign-currency account you create, MYOB software will
automatically create a linked exchange account. For example, if you
create a yen checking account, a yen exchange account will be
created automatically. Your MYOB software 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.
Grouping with undeposited funds Only receipt
transactions that are in U.S. currency may be grouped as a
deposit of undeposited funds. Therefore, you can only use a U.S.
currency account as the linked account for undeposited funds.
NOTE :
If you make foreign purchases
Here’s a list of the accounts you are likely to need if you make
payments to vendors in a foreign currency.
„
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.
„
Bank 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.
NOTE :
You can let your MYOB software create the linked exchange
account for you or you can specify one yourself. To create an
account yourself, see ‘Set up accounts’ on page 26. You will need
to select the correct currency and exchange account in the
Account Information window.
The following section describes the accounts you need to create.
If you make foreign sales
Following is a list of the accounts you are likely to need if you
accept payment from customers in a foreign currency.
„
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.
„
Bank 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.
SETTING UP MULTIPLE CURRENCIES
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 it does, the most appropriate way for it to do so. See
‘Tracking currency gains and losses’ on page 172 for more
information.
Depending on your business, you may need to create additional
accounts to track foreign bank accounts, assets held overseas and
the like. If you are unsure about the accounts, ask your
accountant or an MYOB consultant.
169
Task 4: Assign accounts to foreign
currencies
1
Go to the Lists menu and choose Currencies. The
Currencies List window appears.
2
Click the zoom arrow ( ) beside the currency you want to
assign to one or more accounts. The Currency Information
window appears.
3
4
5
170
Select the required tab. Click either:
„ the Receivable Accounts tab if customers pay you in this
currency, or
„ the Payable Accounts tab if you pay vendors in this
currency.
Type or select the relevant accounts in the appropriate fields.
In the bottom section of the window, select the options that
apply to your business. As you select options, additional fields
will appear and you can type or select the accounts you will
use to track various parts of your transactions such as deposits
and discounts.
Repeat this procedure for each currency you want to assign to
the relevant accounts.
Task 5: Assign currencies to foreign
customers and vendors
The currency used to make a transaction is determined by the
currency assigned to the customer card 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.
NOTE : 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. Any transactions
recorded for a customer or vendor card will be in the currency linked
to the card.
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
2
Click the zoom arrow ( ) next to the required card to display
the Card Information window.
3
Select the Profile tab.
4
In the Currency field, type or select the currency you want to
assign to the card or click the search icon ( ) to make a
selection from the currency list. (The local currency is selected
by default.)
5
Click OK.
6
Repeat this procedure for each card that you want to assign
to a foreign currency.
7
Click Close.
CHAPTER 10
INTERNATIONAL TRANSACTIONS
Exchange rates
When entering a foreign currency transaction, you can either use
the default exchange rate for the currency or enter a new rate for
the transaction.
To change the default exchange rate
1
Calculate the exchange rate first using the Currency
Calculator. See ‘Using the Currency Calculator’ below.
2
From any command center, go to the Lists menu and select
Currencies. The Currencies List window appears.
3
Select the currency entry you want to modify and click Edit.
(Alternatively, click the zoom arrow next to the currency
name.) The Currency Information window (Currency
Profile view) appears.
4
Modify the fields as required and click OK.
5
Click Close to exit the Currencies List window.
4
Type the new exchange rate in the Transaction Exchange
Rate field. This will only affect the transaction that is currently
displayed.
5
If you want to change the exchange rate for all future
transactions that use this currency, select the Update Current
Exchange Rate in the Currency List with Transaction
Exchange Rate option.
6
Click OK. The transaction window reappears.
To change the exchange rate in a transaction window
1
Calculate the exchange rate first using the Currency
Calculator. See ‘Using the Currency Calculator’ below.
2
Open a foreign currency transaction window. You can record
foreign currency transactions for:
„ sales, invoice payments, and settle returns & credits
„ purchases, bill payments, and settle returns & debits
„ banking transactions and general journal entries.
3
Click Rate at the bottom of the transaction window. The
Exchange Rate window appears.
EXCHANGE RATES
Using the Currency Calculator
If you receive a payment for a foreign currency invoice in your
local currency, you can use the Currency Calculator to 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 your
MYOB software: go to the Help menu at the top of the screen
and choose Currency Calculator.
171
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 of your foreign currency to fluctuate.
When your local currency weakens relative to the foreign
currency, the value of your foreign account increases, creating a
currency gain. When your local currency strengthens, your
foreign account experiences a loss in real value. MYOB software
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 on sales/purchases are tracked
differently than for deposits/withdrawals.
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 You make a sale to a British customer for £100 at an
exchange rate of 1.80 dollars to the pound.
Your MYOB software posts £100 to the British receivables
account (which is actually $100 on the balance sheet), $80 to the
British receivables exchange account and $180 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 1.80 to 1.65 dollars to the
pound. The deposit is valued at $165.
For realized gains or losses on sales and purchases, a posting is
automatically made to the Currency Gain/Loss account.
However, 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.
You originally made a sale that at the time was worth $180.
When you received payment, it was worth only $165. Therefore,
the $15 difference is a realized currency loss, and will be posted
to the British receivables exchange account.
When you activate the multiple-currency feature in MYOB
software, a Currency Gain/Loss account is automatically created.
Transfers
Large foreign currency exposure If you have a large
foreign currency exposure, you may require a more detailed analysis
than posting to a single Currency Gain/Loss account provides. In
this case, we recommend that you consult your accountant for
further advice about managing your foreign currency exposure.
NOTE :
172
Sales and Purchases
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 the Currency Calculator (from the Help menu
at the top of the screen) to calculate their true values in local
currency at that time.
CHAPTER 10
INTERNATIONAL TRANSACTIONS
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.
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.
Example Say the original balance in your London Checking
account is zero and you then transfer $180 U.S. at an exchange
rate of 1.80 dollars to the British pound account. The $180 is
converted to £100 and deposited into your London Checking
account. Using its dual account system, your MYOB software
posts £100 to the London Checking account (which is shown as
$100 on the balance sheet), and $80 to the London Checking
exchange account.
Unrealized currency gains and losses
The following week you withdraw that £100 from the bank at an
exchange rate of 1.75 dollars to the pound. Your MYOB software
values the withdrawal at $175. You put £100 into the account
that at the time was worth $180. When you withdrew the £100
from the account, it was worth only $175. Therefore, the $5
difference is a realized currency loss.
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 or
issue 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 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 adjustment postings to each of your
foreign-currency accounts for your balance sheet and also to a
profit & loss account.
Miscellaneous transactions
Transferring funds to a foreign account
If you want to transfer funds from a local-currency account to a
foreign account, do this through the Spend Money window.
1
Go to the Banking command center and click Spend Money.
The Spend Money window appears.
2
Click Currency. In the Exchange Rate window, choose the
currency of the account into which you want to make a
deposit and click OK.
MISCELLANEOUS TRANSACTIONS
3
In the Pay from Account field, type or select the local
currency checking account from which the amount is being
withdrawn.
4
Enter the date, amount, payee, and memo.
5
In the Account # (or Name) column, type or select the
foreign account into which you want to make the deposit.
6
Click Record.
173
Entering foreign-currency transactions in
a local account
Reconciling accounts containing foreign
transactions
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.
When you are reconciling your bank statement, the foreign
currency transaction amounts listed in your statement will often
not match those listed in your company file. This is because the
exchange rate used by the bank is different from that recorded in
your company file at the time of the transaction.
Example 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 1.65 to 1.80 since you made the original sale.
174
1
Go to the Sales command center and click Receive
Payments. The Receive Payments window appears.
2
Select the customer. The currency for this customer card is
British pounds, so the Rate button displays GBP. You have
received a check from your customer for £5,000 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 when you select
the Deposit to Account option.
4
Click Rate to check the default currency rate for the British
pound to the U.S. dollar. Change the rate from the default
rate of 1.65 to 1.8 and click OK.
5
Enter £5,000 in the Amount Received field and allocate it to
the outstanding invoice.
6
Click Record.
There are two methods by which you can reconcile accounts
containing foreign transactions:
„
If you have your security preferences set to allow records to
be changed, simply click the zoom arrow ( ) for the
transaction in the Reconcile Accounts window to display the
original transaction. Click Rate and change the exchange rate
to match the bank statement.
„
If you have the security preferences set so that records cannot
be changed, click the zoom arrow ( ) next to the
transaction, choose Reverse Check Transaction from the
Edit menu, and re-enter the check with the correct exchange
rate.
CHAPTER 10
INTERNATIONAL TRANSACTIONS
LISTS
11 Lists
Your company file consists of different types of records —customers, accounts, recurring transactions, and so on. Records of the same type are
grouped into lists.
Lists help you to keep track of the customers that owe you money, the items that you sell, the accounts or items being used, and so on. Lists can
be modified to suit your requirements. For example, you can modify account and job levels to alter how they appear in reports. You can also
inactivate records you use infrequently to keep your lists up to date.
Lists can be used in a number of ways. For example, you can use a combination of identifiers, contact logs, and email addresses to create a list of
customers who have contacted you in the past six months. You can then create a PDF file of your current price list and email it to those customers.
Adding a record
Lists are made up of individual records. For example, each item in
your items list is a record, as is each job in your jobs list. You can
add as many records as you want to a list.
To add this type of record...
See
Account
page 26
Card
page 217
Category
page 236
Foreign currency
page 168
Inventory location
page 154
175
To add this type of record...
See
Item
page 150
Job
page 237
Payroll category
page 111
Recurring transaction
page 189
Tax code
page 177
Time billing activity
page 140
Adding records using Easy-Add
2
Type the customer’s name and press TAB. If there is no card for
this customer, the Select from List window appears.
3
Click Easy-Add. A new customer card is added to your cards
list. You can now complete your task with the new card.
You can create new records easily using the Easy-Add feature.
Accounts, cards, categories, comments, custom list items, jobs,
referral sources, and shipping methods can be added to your lists
when entering transactions.
Easy-Add is not available from some transaction
windows In windows such as Spend Money, the type of card you
want to create is not immediately obvious, so the Easy-Add button
is not available.
NOTE :
To create a record using Easy-Add
Let’s assume you want to add a customer card while entering a
sale.
1
In the Sales command center, click Enter Sales. The Sales
window appears.
Setting up tax codes
Tax codes are used to track tax paid to and by your business. Each
tax code represents a particular type of tax, which is used to
calculate tax on your transactions.
Your MYOB software has an extensive list of tax codes that can be
used in a variety of situations—for example, when doing business
with overseas customers, when tracking capital acquisitions and
so on.
176
Summary of tax types
When you create a tax code, you need to select which type of tax
it is. There are three tax types you can choose from. The table
below describes what each tax type is for.
CHAPTER 11
LISTS
Tax Type
Description
Consolidated
This tax type is used for taxes that are made up of
two or more tax codes or sub-taxes. You would use
this code if, for example, the 8% tax rate you record
on sales is the combined total of a 5% state sales tax
rate and a 3% city sales tax rate. For more
information see ‘Consolidated tax codes’ below.
Import Duty
This tax type should be used by importers bringing
goods into the United States from other countries.
Tax codes with this type are used to record the
import duty payable on a purchase without
changing the total amount of the purchase.
Sales tax
This tax type is associated with the tax recorded on
sales and purchases of goods and services.
To create a tax code
1
Go to the Lists menu and choose Tax Codes. A list of tax
codes appears.
2
Click New. The Tax Code Information window appears.
3
In the Tax Code field, type a code (up to three characters) for
the new tax and press TAB.
4
Complete the other fields in this window.
A
Consolidated tax codes You can create consolidated tax
codes by combining two or more tax codes. For example, the
CST tax code (with an 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%.
B
5
A
Enter a description, type, and rate. If you selected
Consolidated as the Tax Type, see ‘Consolidated tax codes’
above.
B
If the Tax Type is Sales Tax, select the linked account for tax
collected. If the Tax Type is Import Duty, select the linked
account for accrued duty. Select a card that you want to link
to this tax code, if applicable.
Click OK when you have finished. The new tax code you
created will now appear in your tax codes list.
You can only consolidate tax codes that are in your tax
code list Make sure you first create the tax codes you want to
consolidate. The rest of the fields are filled in for you and the
consolidated tax rate is calculated automatically.
NOTE :
SETTING UP TAX CODES
177
To change the details of a tax code
To delete a tax code
If a tax rate changes or if you wish to link a tax code to a different
account, you can change the tax code information.
A tax code can only be deleted if it's not in use on a sale,
purchase, or check transaction.
1
Open the tax code you want to edit in the Tax Code
Information window.
1
Open the tax code you want to delete in the Tax Code
Information window.
2
Make the required changes and click OK.
0
Go to the Edit menu and choose Delete Tax Code.
Finding a record
Records are stored and displayed in lists. For example, the Jobs
List window lists the jobs you have created, the Accounts List
window lists your accounts, and so on. As lists get long, it can
take time to locate a record. Use the following tools to quickly
find a record.
Tabs Some lists are divided into separate views using tabs. For
instance, the accounts list is divided by account type into eight
views (using eight tabs), making it easier for you to find an
account. For example, if you are looking for an asset account,
click the Asset tab. Within the tab you can use the scroll bar to
find the account.
Search fields You can find a record by filtering cards, activities,
locations, recurring transactions, and items lists using the search
fields. To do this, select a filter from the Search by list and enter
search terms in the adjacent field, then press TAB. The list is sorted
178
according to your selections. To reset the list, click the (
next to the search field.
) icon
Advanced search filters You can use advanced search filters
such as the zip code range or identifiers to search for a single card
or a group of cards. To do this, in the Cards List window, click
Advanced. Enter the relevant filters to narrow your search. Only
those cards that meet your search criteria will be displayed.
CHAPTER 11
LISTS
Changing a record
You can make changes to:
„
accounts
„
cards
„
categories
„
foreign currencies (if you’ve set up the multicurrency feature)
„
items
„
inventory locations
„
jobs
„
payroll categories
„
tax codes
„
time billing activities.
To change a record
1
Display the list to which the record belongs. For example, if
you are making changes to an account, display the Accounts
List window; if you are changing an item, display the Items
List window, and so on.
2
Locate the record you want to change in the list. Use a search
method described in ‘Finding a record’ on page 178, if
necessary.
3
Click the zoom arrow ( ) next to it. The record details are
displayed in the Information window.
4
Make the required changes and click OK.
Inactivating or reactivating a record
If you have accounts, cards, items, inventory locations, activities,
or jobs that you rarely use—for example, a card you created for a
one-off 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.
CHANGING A RECORD
To inactivate (or reactivate) a record
1
Display the list to which the record belongs. You can display
the list from the appropriate menu or command center. For
example, if you are inactivating a card, go to the Lists menu
and choose Cards, or go to the Card File command center
and click Cards List.
2
Locate the record you want to inactivate (or reactivate) and
click the zoom arrow ( ) next to it. The record’s details
appear. For cards, accounts and items, select the Profile tab.
3
Select (or deselect) the Inactive [...] option.
179
Deleting a record
You can delete a record that you no longer need. However, a
record must meet certain criteria before it can be deleted. For
example, most records cannot be deleted if they have been used
in transactions.
Deleting other records
You can only delete:
„
a card, foreign currency, tax code, payroll category, item,
inventory location, or job that has not been used in a
transaction. If transactions exist, you need to delete the
transactions before you can delete the record.
„
a card that has not been used in a quote, order, or recurring
template
Deleting an account
You can delete an account if it meets the following criteria:
„
the account isn’t a level-1 account
„
the account has a zero balance
„
an item with a zero quantity in inventory
„
no journal entries used the account
„
„
none of your recurring templates used the account
an activity slip, provided that the time billing invoice on
which it was billed has been deleted or purged
the account isn’t used as a linked account for any transaction
types
„
„
an activity, provided that all the activity slips you’ve recorded
for it have been purged
the account isn’t linked to any of the items you’ve entered.
„
„
a foreign currency record that has not been linked to a card.
To delete an account
180
1
Go to the Accounts command center and click Accounts
List. The Accounts List window appears.
2
Click the zoom arrow ( ) next to the account you want to
delete. The account details are displayed in the Edit Accounts
window.
3
Go to the Edit menu and choose Delete Account.
To delete other records
1
Go to the Lists menu and choose the list to which the record
belongs. For example, if you are deleting an item, choose
Items; if you are deleting a card, choose Cards, and so on.
2
Locate the record you want to delete and click the zoom
arrow ( ) next to it. The record details appear in the
Information window.
3
Go to the Edit menu and choose Delete [...]. For example, if
you want to delete a customer card, choose Delete Card.
CHAPTER 11
LISTS
Combining records
In some situations you may want to combine two records. For
example, you may have records in your cards list for two vendors
who have merged their operations. Or you may have separate
accounts for two departments whose sales figures you now want
to combine.
When you combine two records, you identify one as the primary
record and the other as the secondary record. The primary record
is the record that will inherit the transaction details (transactions,
jobs, history, and so on) of the secondary record. The secondary
record is deleted.
added to the primary card. Non-transaction information for the
secondary card is deleted.
To combine two cards
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
2
Select the primary card.
3
Click Combine Cards. The Combine Cards window appears.
Historical reports When you view historical reports from
the previous fiscal year (for instance, the previous fiscal year’s
balance sheet), the primary account is listed showing the combined
account balance.
NOTE :
Combining cards
You can combine:
„
customer cards
„
vendor cards
„
personal cards.
You cannot combine:
„
employee cards
„
cards with a different type
„
cards with different currencies
„
cards if the primary card is inactive.
When cards are combined, the non-transaction card information
for the primary card—such as card name, address, and buying
and selling details—is retained as the default information for the
combined card. The transaction details for the secondary card are
COMBINING RECORDS
The primary card appears under the Primary - Move all
transactions to list. If necessary, you can choose another
primary card from the list.
4
Select the secondary card from the Secondary - Remove all
transactions from list.
The next action cannot be undone Before continuing,
check that you’ve selected the correct cards to be combined. If
you combine the wrong cards, you will have to restore them
from a backup and re-enter transactions posted to those cards
since the backup.
NOTE :
5
Click Combine Cards.
6
In the window that appears, click OK to confirm you want to
combine the two cards.
181
Combining accounts
3
Click Combine Accounts. The Combine Accounts window
appears.
You can only combine accounts that are:
„
local currency accounts
„
accounts of the same account type (for example, asset and
expense accounts cannot be combined) and
„
detail accounts.
You cannot combine:
„
header accounts
„
accounts that are linked to other accounts.
When accounts are combined, the non-transaction account
information for the primary card—such as account name,
description, and bank details (for banking accounts)—is retained
as the default information for the combined account. The
transaction details and opening balance of the secondary
account are added to the primary account. Non-transaction
information for the secondary account is deleted.
The primary account appears under the Primary - Move all
transactions to list. If necessary, you can choose another
primary account from the list.
4
CAUTION : The next action cannot be undone Before
continuing, check that you’ve selected the correct accounts to
be combined. If you combine the wrong accounts, you will have
to restore from a backup and re-enter transactions posted to the
accounts since the backup.
Budgets and job budgets not combined Budgets and job
budgets for the secondary account are not added to the budgets
and job budgets of the primary account. You will have to revise the
budgets and job budgets of the primary account after combining
them.
NOTE :
To combine two accounts
182
1
Go to the Accounts command center and click Accounts
List. The Accounts List window appears.
2
Select the primary account. This is the account that the
secondary account’s transaction history and opening balance
will be transferred to.
Select the secondary account from the Secondary - Remove
all transactions from list.
5
Click Combine Accounts.
6
When the next window appears, click OK to confirm you
want to combine the two accounts.
CHAPTER 11
LISTS
A transaction is an entry that changes the balance of accounts. Your MYOB software creates transactions when you record such entries as sales
invoices, purchase orders, and inventory adjustments.
You can change, delete, or reverse transactions—depending on how your preferences are set up.
If you have transactions that need to be entered periodically, you can set up recurring transaction templates. You can use these recurring
templates to store details of transactions you record regularly and to set up reminders to record them. You can also set up your MYOB software
to record recurring transactions automatically on their due date.
Finding a transaction
There are several ways to find a transaction. The method you use
depends on the information you have at hand.
Use the...
To find...
See
Find
Transactions
window
journal entries, sales, purchases,
checks, deposits, vendor, and
customer payments.
page 184
Sales Register
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 the customer’s
name.
page 184
183
Use the...
To find...
See
Purchases
Register
transactions relating to purchases
(such as open, closed, and recurring
purchases), quotes, orders, debits,
and returns. This search method is
most useful if you know the
transaction date or the vendor’s
name.
page 184
Bank Register
spend money, pay bills, receive
payments, and receive money
transactions.
page 185
Items Register
inventory item transactions over a
particular date range. This includes
inventory adjustment, build item,
and auto-build transactions.
page 185
TRANSACTIONS
12 Transactions
Use the...
To find...
See
Transaction
Journal window
any transaction by source journal.
page 186
Recurring
Transactions
List window
recurring transactions. You can sort
transactions by name, type, or
frequency, or search for a
transaction by name, amount, or
next due.
page 186
To find a transaction using the Sales Register window
The Sales Register window lists all open and closed invoices,
quotes, orders, returns and credits, and recurring templates. You
can also view a list of all sales.
1
Go to the Sales command center and click Sales Register.
The Sales Register window appears.
2
Click the tab of the sales category you would like to view—for
example, Open Invoices.
3
[Optional] Filter your search using the Search by and date
range fields.
To find a transaction using the Find Transactions
window
1
From any command center, click Find Transactions.
2
In the Find Transactions window, click the appropriate
tab—for example, the Card tab to search by card.
3
Filter your search using the Search by and date range fields.
For example, to search for all transactions made on October
10th, 2008, relating to Carolina Industries, you would make
the following selections in the Card view.
If you want to narrow your search further:
a Click Advanced. The Advanced Filters window appears.
b Type or select the additional search filters and click OK.
The transactions that match your search criteria appear in
the Find Transactions window. You can view a transaction
in detail by clicking the zoom arrow ( ) next to it.
Quotes and orders without applied payments don’t
appear in the Find Transactions window To find these types of
transactions, go to the Quotes and Orders views of the Sales
Register or Purchases Register.
NOTE :
184
The transactions that match your search criteria appear in the
Sales Register window. You can view a transaction in detail
by clicking the zoom arrow ( ) next to it.
To find a transaction using the Purchases Register
window
The Purchases Register window lists all open and closed
purchases, quotes, orders, returns and debits, and recurring
templates. You can also view a list of all purchases.
1
Go to the Purchases command center and click Purchases
Register. The Purchases Register window appears.
2
Click the tab of the type of purchase you would like to
view—for example, All Purchases.
CHAPTER 12
TRANSACTIONS
3
[Optional] Filter your search using the Search by and date
range fields.
The transactions that match your search criteria appear in the
Purchases Register window. You can view a transaction in
detail by clicking the zoom arrow ( ) next to it.
To find a transaction using the Items Register window
The Items Register window gives you quick access to
transactions relating to items. When the register is filtered to
show a single item, a running balance of the item’s quantities and
values appears.
1
Go to the Inventory command center and click Items
Register. The Items Register window appears.
You can use the Bank Register window to find spend money, pay
bills, receive payments, and receive money transactions.
2
In the Search by field, select whether you want to view
transactions for all items or a single item.
Go to the Banking command center and click Bank Register.
The Bank Register window appears.
3
If you selected Item at step 2, type or select the item number
in the adjacent field.
4
In the Dated From and To fields, type the date range during
which the transaction was recorded. The transactions that
match your search criteria appear in the Items Register
window.
To find a transaction using the Bank Register window
1
2
Select the bank, credit card, or petty cash account you used
for the transaction in the Account field.
3
In the Dated From and To fields, type the date range during
which the transaction was recorded. The transactions that
match your search criteria are listed in the Bank Register
window.
4
.
5
If you want to view a transaction in detail, click the zoom
arrow ( ) next to the transaction.
If you want to view a transaction in detail, click the zoom
arrow ( ) next to the transaction.
FINDING A TRANSACTION
185
To find a transaction using the Transaction Journal
window
The Transaction Journal window groups all your accounting
entries into one of six journals: general, disbursements, receipts,
sales, purchases, and inventory. It also enables you to display all
transactions.
1
Click Transaction Journal from any command center (except
Card File). The Transaction Journal window appears.
2
Click the appropriate tab—for example, the Sales tab to find
a sales invoice, the Disbursements tab to find a payment,
and so on.
3
4
If you want to search for a range of journal ID numbers, type
the range in the ID From and To fields. All transactions with
IDs between (and including) these numbers will be listed.
5
If you want to view a transaction in detail, click the zoom
arrow ( ) next to the transaction.
To find a recurring transaction in the Recurring
Transactions List window
1
Go to the Lists menu and choose Recurring Transactions.
The Recurring Transactions List window appears.
2
Locate the recurring transaction. You can:
„ sort transactions by name, type, or frequency
„ search for a recurring transaction by name, amount, or due
date.
„
if it is changeable. A changeable transaction is identified by a
white zoom arrow ( ) next to it.
In the Dated From and To fields, type the date range within
which the transaction was recorded. All transactions between
(and including) these dates will be listed.
Changing or deleting a transaction
If you are part way through entering a transaction, you can erase
it and start again by choosing Erase from the Edit menu.
Sometimes, however, you may need to make changes to or
delete a transaction you have already recorded. A transaction can
only be changed or deleted:
186
To check if your transaction is changeable, make sure the
Transactions CAN’T be Changed; They Must be Reversed
option is deselected in the Security tab view of the
CHAPTER 12
TRANSACTIONS
„
Preferences window. Note that when you create your
company file, this preference is not selected.
Deleting a transaction
If you want to maintain a strict audit trail, you should consider
making your transactions unchangeable by setting this
preference. An unchangeable transaction is identified by a
gray zoom arrow ( ) next to it.
When you delete a transaction, it is permanently removed from
your records. Note the following when deleting a transaction.
if it is not dated within a locked period.
Lock periods prevent you from inadvertently making an entry
in a period in which you don’t want new entries. For example,
after you have completed end-of-month reports for January,
you might lock the period so that the balances for that month
cannot be changed. If you want to change a transaction in a
locked period, you need to unlock the period first.
If you make your transactions unchangeable, you need to reverse
the transaction to cancel its effect on your accounts—see
‘Reversing a transaction’ on page 188.
Changing a transaction
Before changing a transaction, note the following:
Some transactions cannot be changed You cannot change a
paycheck, refund check, or a bank deposit once it has been
recorded. You can only delete or reverse these transactions. For
more information, see ‘Reversing a transaction’ on page 188.
Some transaction amounts cannot be edited If you are
changing a Pay Bills or Receive Payments transaction, only the
Account, Date, Memo, and transaction ID fields can be edited.
You cannot edit the transaction amounts.
To change a transaction
1
Find and display the transaction in its original transaction
window. See ‘Finding a transaction’ on page 183.
2
Make the necessary changes to the transaction and then click
OK.
CHANGING OR 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 early payment
discounts that 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 credit note
applied to a sale must also be deleted before the sale can be
deleted.
Group Receipts in the undeposited funds account If you
want to delete an individual receipt that was recorded as part of
a bank deposit of receipts grouped in the undeposited funds
account, you must first delete the bank deposit. When you delete
a bank deposit, all the cash receipts included in the bank deposit
are returned to the Prepare Bank Deposit window. You can then
delete the required receipt from this window.
Reconciled transactions If you delete a reconciled transaction,
your bank reconciliation will be out of balance. Reconciled
transactions should be reversed. See ‘Reversing a transaction’ on
page 188.
Insufficient on-hand item quantities You cannot delete a
purchase if it will result in a negative on-hand inventory count.
Authorized transactions Credit card payment transactions
that have been authorized using the MYOB Merchant Account
Service can only be reversed or voided. If an authorized
transaction is voided, the transaction is automatically deleted as
part of the voiding process.
187
To delete a transaction
1
2
Find and display the transaction in its original transaction
window. See ‘Finding a transaction’ on page 183 for
instructions.
Go to the Edit menu and choose Delete [...]. For example, if
you want to delete a sale, choose Delete Sale. The
transaction will be removed permanently from your records.
Reversing a transaction
If your accountant wants you to maintain a strict record of all
your accounting entries, you should reverse a transaction rather
than change or delete it.
A reversal transaction is a new transaction that replicates the
original transaction, but with debit amounts shown as credit
amounts and vice versa. After posting a reversal transaction, you
have two transactions (the original and the reversal), but the
account balances appear as if the original transaction was never
posted.
Reversing transactions can affect closed periods When you
reverse a transaction, be aware of the date you enter:
„
If you use the current date when you reverse a transaction
from a prior month, the month-end financials for the prior
month will not reflect the reversal transaction.
„
If you use the original date for the reversal transaction, your
prior month’s financials should be reprinted because they will
have changed.
A reversal transaction is automatically posted to the same
account for the same amount as the original transaction. You
cannot change the amount or account of a reversal transaction.
Customer and vendor payments If an early payment discount
was applied to a sale or purchase, you also need to reverse the
discount. For more information on how to find a transaction, see
‘Finding a transaction’ on page 183.
Before you can reverse a transaction
Negative inventory You cannot reverse a purchase that will
result in a negative on-hand inventory count.
You can only reverse a transaction if it is unchangeable. An
unchangeable transaction is identified by a gray zoom arrow
(
) next to it. To make your transactions unchangeable, select
the Transactions CAN'T be Changed; They Must be Reversed
option on the Security view of the Preferences window. You can
change this preference at any time.
188
CHAPTER 12
TRANSACTIONS
To reverse a transaction
1
Display the transaction you want to reverse. See ‘Finding a
transaction’ on page 183 for instructions.
2
Go to the Edit menu and choose Reverse [...]. For example, if
you want to reverse a sale, choose Reverse Sale. A new
transaction containing corresponding negative amounts to
that of the original transaction will appear.
3
TIP : Recap transaction Before you record this transaction,
you can use the recap transaction feature to view the journal
entries that will be created when the transaction is recorded. To
recap, choose Recap Transaction from the Edit menu.
4
If you want, alter the date and memo. Note that you can’t
change the accounts and amounts.
Click Record Reversal to record the reversal transaction. The
transaction is reversed and all account balances are returned
to their previous levels.
Recurring transactions
If you have a transaction that you record regularly—for example,
a rent check—you can set it up as recurring transactions and save
it for future use.
on, you can change details of a recurring transaction, or delete
one if it is no longer used.
When you save a recurring transaction, you can specify how
often you want the transaction to be recorded, and for how long
you want to schedule it. For example, you can schedule your car
payments monthly, for the next 22 months.
If you want to...
See
Create a recurring transaction
below
Create a recurring transaction from an existing entry
page 191
If the transaction details are the same each time—such as a rent
payment—you can set up a recurring transaction to be recorded
automatically. Or you can open the transaction as required, alter
the details (for example, if you make regular sales to a customer
and vary the items), and then record the transaction.
Edit a recurring transaction
page 192
Delete a recurring transaction
page 192
Record a recurring transaction
page 192
Record several recurring transactions
page 193
You can make the following transactions recurring: sales,
purchases, spend money, receive money, and general journal
entries.
Setting up recurring transactions
You can create a recurring transaction in a transaction window, or
copy an existing recurring transaction to create a new one. Later
RECURRING TRANSACTIONS
To create a recurring transaction
When you save a transaction as a recurring template, you can
specify how often you want the transaction to be recorded, and
for how long you want to schedule it. For example, you can
schedule your car payments monthly, for the next 22 months.
1
Enter the transaction details in a transaction window—such
as the Sales window—if you make regular sales to a customer.
189
2
Click Save as Recurring instead of clicking Record. The Edit
Recurring Schedule window appears.
If you want to...
then...
schedule the transaction
until a set date.
Select Continue until this date and
type the date in the adjacent field.
schedule the transaction
for a set number of
times.
Select Perform this # of times and
type the number of times in the
adjacent field.
Specify an alert option
In the Alerts section of the window, you can set a reminder to
record the transaction or set it to automatically record the
transaction and receive a notification when the transaction is
recorded.
Pre-dated recurring transactions cannot be recorded
automatically If you entered a pre-dated recurring transaction
and you set a reminder date, the transaction will display as
overdue on the To Do List. Pre-dated recurring transactions
cannot be set to be recorded automatically.
NOTE :
3
In the Recurring Transaction Name field, type a name to
identify the transaction.
Schedule the Transaction
4
Select the transaction frequency from the Frequency list.
5
In the Starting on field, type the date the transaction is first
due.
If you want to...
then...
set a reminder
1
Click Remind.
2
Select a reminder option from the to
record this transaction list.
3
If you selected No. days in advance,
type the number of days in the adjacent
field.
4
Select the user who needs to be
reminded from the list adjacent to the
option.
5
Continue with step 7 on page 191.
1
Click Automatically record this
transaction when due and notify.
2
Select the user who needs to be notified
from the list adjacent to the option.
Pre-dated recurring transactions You can save a
recurring transaction with a start date prior to the system date,
provided the date entered is within the current fiscal year and is
not in a locked period.
NOTE :
6
190
Indicate how long you want the recurring transaction to
continue.
If you want to...
then...
schedule the transaction
for an unlimited period
Select Continue indefinitely.
automatically
record the
transaction
CHAPTER 12
TRANSACTIONS
Specify the transaction ID
7
In the Transaction section of the window, specify how you
want the transaction ID number to be created:
„ If you want the transaction ID number to be one greater
than the previous transaction ID, click Use the next
sequential number as the [...] #.
„ If you want to specify a transaction ID, click Use the
following as the [...] #, then type the transaction ID in the
adjacent field.
3
In the Card field, click the search button (
).
The Select from List window appears listing only card types
relevant to the type of recurring transaction you are copying.
For example, a purchase transaction can only be applied to
your vendor cards.
4
If you want to save your changes to the recurring transaction
each time it is recorded, select the Save my changes when I
record this recurring transaction option.
Select the cards you want create a copy for.
„ If you want to select all the cards, click the icon above the
select column ( )
„ If you only want to select some cards, click in the select
column next to each required card.
5
Click OK when you’ve finished selecting from the list. The
Create Copy window reappears.
9
Click Save. The transaction window reappears.
6
Click Save.
10
Click Cancel to close the transaction window.
8
The transaction will now appear in the Recurring
Transactions List window. See ‘To find a recurring
transaction in the Recurring Transactions List window’ on
page 186.
To create a recurring transaction from an existing
entry
If you selected...
Then...
One card
The transaction window for the new
recurring transaction appears. You can edit
the transaction details if required.
Click Save. The Recurring Transactions List
window appears.
More than one
card
The Recurring Transactions List window
lists all your recurring transactions. Each new
transaction has a unique name—the original
name suffixed by the name of the relevant
card.
You can create a recurring transaction by copying an existing
recurring transaction entry, then customizing the details for the
new one.
1
Go to the Lists menu and choose Recurring Transactions.
The Recurring Transactions List window appears.
2
Select the recurring transaction you want to copy and click
Create Copy. The Create Copy window appears.
RECURRING TRANSACTIONS
7
If you need to change the schedule details or the name of a
new recurring transaction:
a Select the recurring transaction.
b Click Edit Schedule.
c Make the changes in the Edit Recurring Schedule
window.
d Click Save.
8
Click Close.
191
To edit a recurring transaction
Recording recurring transactions
You can edit the details of a recurring transaction (such as the
check details of a Spend Money transaction) and update the
transaction schedule.
For recurring transactions that are not set up to record
automatically, you can record:
1
Go to the Lists menu and choose Recurring Transactions.
The Recurring Transactions List window appears.
2
If you want to change the recurring transaction details:
a Select the recurring transaction you want to change and
click Edit. The transaction window appears for the selected
type of recurring transaction.
b Make the necessary changes.
c Click Save.
3
4
If you want to change the schedule of the recurring
transaction:
a Select the recurring transaction and click Edit Schedule.
The Edit Recurring Schedule window appears.
b Change the scheduling details of the transaction as
required.
c Click Save.
„
a single recurring transaction from a transaction
window—see below
„
several transactions at the same time—see page 193.
You can also record a recurring transaction:
„
in the Reminders window (if you use the reminders
option)—see ‘Reminders’ on page 193.
„
in the Recurring Transactions List window by going to the
Lists menu and choosing Recurring Transactions.
To record a recurring transaction from a transaction
window
1
Open the transaction window for the transaction you want to
use. For example, open the Purchases window if you are
recording a recurring purchase.
2
Click Use Recurring. The Select a Recurring Transaction
window appear listing only recurring transactions for this
type of transaction.
3
Choose the recurring transaction from the list and then click
Select. The transaction appears.
4
If you want, change the date, amount, account, and other
details.
5
Click Record.
Click Close when you’ve finished editing the recurring
transaction.
To delete a recurring transaction
Deleting a recurring transaction template only removes it from
your list of recurring transaction templates. Transactions
recorded previously using the recurring template are not
affected.
1
Go to the Lists menu and choose Recurring Transactions.
The Recurring Transactions List window appears.
2
Select the recurring template you want to delete and click
Delete. A message appears explaining that this action will not
delete any recorded transactions based on this transaction
template.
3
192
Click OK to delete the recurring transaction.
CHAPTER 12
TRANSACTIONS
To record several recurring transactions
1
From any command center, click To Do List. The To Do List
window appears.
2
Click the appropriate tab—Recurring Sales, Recurring
Purchases, or Recurring Transactions (for all other recurring
transactions).
When a recurring transaction is due (or overdue), the Reminders
window appears.
In the list of transactions that appears, you can click the zoom
arrow ( ) next to the transaction to view it in detail.
3
Click in the select column ( ) next to the recurring
transactions you want to record.
The options available in this window depend on the status of the
selected recurring transaction (if more than one is showing). For
example, if the selected transaction has a due date of today or is
overdue, the Remind Tomorrow and Remind When Due
buttons are not available.
The reminder window options are outlined below.
4
5
Click Record. A window appears, requiring you to enter a
date for the selected transactions. This is the date that the
transactions will be recorded in your journals.
Enter a date and click OK.
Reminders
You can use your MYOB software to remind you on, or before,
the scheduled date of a recurring transaction—see ‘Specify an
alert option’ on page 190. If you use this option, your MYOB
software checks the reminder dates each time you open your
company file.
RECURRING TRANSACTIONS
Click...
If...
Skip This
Period
You don’t want to record the transaction this
period. The reminder is removed from the list.
Remind
Tomorrow
You don’t want to record the transaction today,
but want to be reminded tomorrow.
Remind
When Due
You don’t want to record the transaction today,
but want to be reminded when the transaction is
next due.
Record
You want to record the transaction now.
193
194
CHAPTER 12
TRANSACTIONS
REPORTS
13 Reports
You can use your MYOB software to monitor your business with over 100 built-in reports. If these do not entirely meet your needs, you can design
custom reports with the information and appearance you want, then save these custom reports as templates to re-use when required.
Producing reports
You can print, email, or fax reports, and output them to various
file formats—for example, HTML, PDF, text files—or export them
to other software for further modifications.
If you want to...
See
Display or print a report
below
Save a report as a file
page 196
Send a report by email
page 196
Send a report by fax
page 196
View a report in Microsoft Excel
page 197
To display and print reports
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Select the report you want to display or print and click
Display. The Report Display window appears.
195
3
If you want to reposition or resize columns:
a Select Screen Report in the View field.
b To reposition a column, position the cursor over the
column header until the cursor changes to the hand icon
( ), then drag the column header to a new position.
c To change the width of a column, position the cursor over
the icon of a column header ( ) and then drag it to
change the column’s width. Only columns that have this
icon can be resized.
4
If you want to filter the data and refine the appearance of the
report, click Customize and specify the data you want. For
more information, see ‘Customizing reports’ on page 199.
5
Select Print Preview from the View list in the report toolbar.
6
If you want to save the new report layout as a custom report,
click Save As. This new format will be available from the
Custom tab of the Index to Reports window.
7
Click Print.
To save reports as files
To send reports by email
You can save reports in various file formats so that they can be
viewed and edited in other programs.
When you send a report by email, the report is saved as a PDF file
and attached to the body of the email message. Your recipient
needs a PDF file viewer, such as Adobe Reader, to view the report.
1
2
Locate and select the report you want to display.
3
If you want to filter the data and refine the appearance of the
report, click Customize and specify the data you want. For
more information, see ‘Customizing reports’ on page 199.
4
5
196
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
Click Send To and choose one of the following file formats:
„ PDF (Portable Document Format). If you save a report
as a PDF file, the person who receives the report must have
software, such as Adobe Reader, that is capable of opening
a PDF file.
„ HTML. When you save a report in HTML (HyperText
Markup Language) format, the report can be viewed in
browsers such as Microsoft Internet Explorer.
„ Tab-Delimited Text File.
When you save a report in
tab-delimited text file format, fields in the report are
separated by tab spaces. Tab-delimited text files can be
opened by most word processing and spreadsheet
software.
„ Comma-Separated Text File. When you save a report in
comma-separated text file format, fields in the report are
separated by commas. Comma-separated text files can be
opened by most word processing and spreadsheet
software.
„ Simple Text File.
When you save a report in simple text
file format, fields are separated by spaces so the
appearance of the report is as similar as possible to a
printed version of the report. Simple text files can be
opened by most word processing and spreadsheet
software.
In the Save As window, specify a name and location for the
file and click Save.
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Locate and select the report you want to email.
3
If you want to filter the data and refine the appearance of the
report, click Customize and specify the data you want. For
more information, see ‘Customizing reports’ on page 199.
4
Click Send To and choose Email. The Email window appears.
5
In the Name field, type or select the individual or
organization you want to send the report to.
6
If necessary, add or change the email address.
7
Type the subject and message of the email.
8
Click Send. The email is sent to your email software’s outbox
with the report attached as a PDF file.
9
Send the email and attachment from your email software as
you normally would.
To send reports by fax
If you have fax software installed on your computer you can send
your reports by fax. Windows 2000 and Windows XP include fax
software; for more information, see Windows Help.
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Select the report you want to fax.
3
If you want to filter the data and refine the appearance of the
report, click Customize and specify the data you want. For
more information, see ‘Customizing reports’ on page 199.
4
Click Send To and choose Fax.
5
Use your fax software to send the fax as you normally would.
CHAPTER 13
REPORTS
To view reports in Microsoft Excel
You can open reports that you have saved as tab-delimited files,
comma-separated files or unformatted text files. You must have
Microsoft Excel installed on your computer.
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Select the required report.
3
If you want to filter the data and refine the appearance of the
report, click Customize and specify the data you want. For
more information, see ‘Customizing reports’ on page 199.
4
Click Send To and choose Excel. Microsoft Excel starts and
the selected report appears.
Modifying OfficeLink templates for Microsoft Excel Each
report in your MYOB software has a corresponding Excel
template. All Excel templates are stored in a folder named
Spredsht, which is located in your MYOB software folder. You can
modify these templates if you want.
CAUTION : Use caution when modifying Excel templates If you
modify the Excel templates, do not move the [[Tbl:Body Table]]
field. This field must be located in Column B, row 15, in order for
each report’s total amounts to be calculated correctly. If you move
[[Tbl:Body Table]], the totals will be inaccurate.
Also note that if you want to perform additional calculations using
the exported report data, you should either create a macro that will
perform the calculation after the report is imported, or place your
reference fields on a separate spreadsheet and update it after the
report is imported. Please refer to your Excel documentation for
more information.
CAUTION : Avoid exiting your MYOB software while exporting
reports to Excel If you exit your MYOB software or manually close
the DRVXL16.exe program using the Windows Task Manager before
all the report information has been transferred to Excel, a General
Protection Fault error will occur. We strongly recommend that you
wait until the report information has been transferred to Excel
before closing your MYOB software.
Printing report batches
A report batch is a group of reports that can be printed all at
once. For example, you may want to create a report batch that
contains all your regular monthly financial statements.
PRINTING REPORT BATCHES
NOTE : Some reports are excluded from batches Some reports,
such as the Reconciliation report, can’t be added to report batches
because you need to specify information to be printed each time
you want to print the report. Saved custom reports are also
excluded.
197
To create a report batch
To print a report batch
1
Single-user access required If you share your company file
on a network, you should note that this task requires single-user
access. For more information, see ‘Single-user file locking for special
tasks’ on page 270.
NOTE :
1
2
Go to the Reports menu and choose Report Batches. The
Report Batches window appears.
Select the relevant period from the Period 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.
Go to the Reports menu and choose Report Batches. The
Report Batches window appears.
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
Choose a report batch for printing and click Print. Each
report in the batch is printed.
To change a report batch
1
Go to the Reports menu and choose Report Batches. The
Report Batches window appears.
2
Click New. All the reports that can be batched appear.
3
Enter a name for the batch.
2
4
Click each report you want to include in the batch. To remove
a report from the batch, click the report name a second time.
A check mark appears to the left of each selected report.
Select the batch you want to change and click Edit. The
New/Edit Batch window appears.
3
Change the batch name, if necessary, and the reports
contained in the batch. (Click a report to select or deselect it.)
4
Click OK to save your changes.
5
Click OK. The Report Batches window reappears with the
name of the new batch in the scrolling list.
To delete a report batch
198
1
Go to the Reports menu and choose Report Batches. The
Report Batches window appears.
2
Select the batch you want to delete.
3
Go to the Edit menu and choose Delete Batch.
CHAPTER 13
REPORTS
Customizing reports
You can change the look and content of reports. For example,
you can filter the amount of information that appears in reports,
add additional fields and change the appearance.
You can customize a report for once-off use and print it
immediately. Then, when you close the report, it will revert the
report to the original settings. However, if you want to retain a
report’s modifications, you can save it as a customized report.
When you save a customized report, it appears in the Custom
view of the Index to Reports window.
Follow the tasks below to customize a report.
Task
See
1
Select the data to be printed
below
2
Select the required fields
page 201
3
Select finishing options
page 201
4
Change the report format
page 202
5
Print the report
page 202
6
Save the report.
page 202
CUSTOMIZING REPORTS
Task 1: Select the data to be printed
You can filter the amount of information that appears in your
reports by choosing specific categories or ranges of data to be
included in a report. For example, if you want to print a
Customer Payments (Closed Invoices) report for a customer for
the months May to July, you can use filters to select just that
customer and just those months.
You can filter the information shown in a report from either the
Report Customization window or the Report Display window.
To filter reports in the Report Display window
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Locate and select the report you want to customize.
3
Click Display. The Report Display window appears.
4
Filter the report by making the required entries and selections
in the toolbar that appears in the top section of the Report
Display window. (Some reports do not have selection
options.)
5
Click Redisplay. The report is refreshed with the new filtering
options applied. To make further filtering selections, see ‘To
filter reports in the Report Customization window’, on
page 200.
199
To filter reports in the Report Customization window
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Locate and select the report you want to customize.
3
Click Customize. The Report Customization window
appears. The customization options that appear depend on
the report being customized. The example below shows the
options available for the Closed Invoices report (which is one
of the Sales reports).
Using wildcards to filter reports
Wildcards are special characters that give you more flexibility
when selecting which records, such as account numbers and
invoice numbers, you want to include in a report.
You can use two wildcard characters, the asterisk (*) and the
question mark (?), in the Report Customization window.
„
Example 1—If you want to print an Account Transactions
report for all accounts whose account numbers begin with 1,
you can use the asterisk wildcard to do so.
A
To include accounts whose numbers begin with 1, enter 1* in
the Selected field in the Report Customization window for
the Account Transactions report. When you print the report,
only accounts whose numbers begin with 1 will be included
on the report.
B
4
200
Asterisk: Use the asterisk in the Report Customization
window if you want to print a report for a specific group of
records.
Example 2—If you have several items whose numbers end in
SVC (to indicate the items are service items), you can enter
*SVC in the Selected field to print a report that includes only
the items whose numbers end in SVC.
A
The top section of the window enables you to limit the report to:
• a particular customer, vendor, or employee
• records with particular values in custom lists.
B
The bottom section has three tabs—Advanced Filters, Report
Fields and Finishing.
The Advanced Filters tab lets you specify further limits on the
data displayed (such as limiting records to those within a date
range). The other two tabs are described later (see
‘Task 2: Select the required fields’ on page 201 and
‘Task 3: Select finishing options’ on page 201).
Specify your search criteria in the Advanced Filters tab, then
go to ‘Task 2: Select the required fields’ on page 201.
„
Question mark: The question mark wildcard allows you to
limit your report to elements that contain only a specific
number of characters.
Example 3—If you want to print a Job Transactions report for
the Cadwell Corporation. All Cadwell job numbers are three
characters long and begin with the letter C. However, you
have other jobs that start with the letter C and you don’t want
those jobs to appear on the report. In the Selected field of the
Job Transactions report’s Report Customization window,
enter C?? to limit the report to three-character jobs that begin
with C.
CHAPTER 13
REPORTS
Task 2: Select the required fields
Task 3: Select finishing options
In the Report Fields tab of the Report Customization window,
you can choose the fields to include on the report. For example,
if you want to print the name of the salesperson in a sales report,
you can add the salesperson field.
The Finishing tab view of the Report Customization window
provides a number of miscellaneous options, such as what
default text to add to the report, whether you want the report
added to the Reports menu, and so on. These options vary
depending on which report you select.
1
Click the Report Fields tab.
To select finishing options
1
Click the Finishing tab.
2
If you want to add the customized report to the Reports
menu so that you can re-use these customized settings, select
the Add to Reports Menu option.
3
If you are on a network and want to prevent data from being
changed when the report is being generated, select the
Prevent Data Changes During Report Generation option.
This will prevent other users from recording transactions or
making other changes in the company file while the report is
being printed.
4
Make any other entries or selections that apply to the report.
A
B
2
A
Fields in the Available Fields column are those that are available
for the selected report. To include a field in a new report, select
the field by clicking in the select column ( ). This adds the field
name to the Selected Fields column.
B
Fields in the Selected Fields column are set to be printed on the
selected report. From the top down, the sequence of fields in
this column is in the order the fields will appear in the report.
The first field will appear as the left most column of the report,
the second field will appear in the next column to the right, and
so on.
If you want to change the order in which the fields are printed,
display the report and choose Screen Report from the View list.
You can then drag the column headers to new positions. See ‘To
display and print reports’ on page 195.
Select the fields you want to appear on the report.
CUSTOMIZING REPORTS
201
Task 4: Change the report format
Task 5: Print the report
You can modify the look of the report by choosing different font
styles, sizes, colors, alignments, and effects, and by changing the
report’s page margins.
1
Click Display to display the report.
2
To see how the report will look when printed, select Print
Preview in the View field.
3
To print the report, click Print.
1
Click Format in the Report Customization window. The
Report Format window appears.
Task 6: Save the report
A
C
If you plan to use a report’s design and format again in the future,
you can customize the report once, save the changes and then
re-use the report whenever you want. Once saved, you can
access your custom report from the Custom tab in the Index to
Reports window.
1
With the report displayed, click Save As. The Save As window
appears.
2
Enter a name and a brief description of the custom report and
click OK. The Report Display window reappears.
D
3
B
2
202
A
From the Report Line list, select the section of the report you
want to customize and then change the formats as required.
B
If you have formatted a report and want to change it back to its
original format, click Default.
C
The right side of the Report Format window shows a preview of
each report section.
D
To change the report’s margins, type the margin widths.
Click OK when you have finished formatting the report.
Click Close. The Index to Reports window appears.
The saved report is now listed on the Custom tab of the
Index to Reports window.
Note that if you change the filter, field or finishing settings of a
customized report the next time you use it, these changes will be
saved.
Custom reports are stored in a special folder When you
save a custom report, the report’s customization information is
stored in a folder called Custom, which is located in your MYOB
software folder. If you delete or rename this folder, you won’t be
able to use your custom reports.
Removing saved reports from the Custom tab of the Index
to Reports window If you want to remove a custom report,
select the report in the Custom tab of the Index to Reports
window and select Erase Custom Report from the Edit menu.
CHAPTER 13
REPORTS
Changing the default fonts on reports
Every report is assigned default fonts. You can change these
default fonts if you prefer your reports to have a different
appearance.
1
Go to the File menu and choose Default Fonts. The Default
Font Selection window appears.
2
Click Reports. The Report Format - All Reports window
appears.
3
Choose the font style and size for the printed characters on
your reports. The sample box previews the appearance of
your choices.
4
Click OK when you have finished.
Changing the default fonts will not affect the fonts on
any custom report.
NOTE :
CUSTOMIZING REPORTS
203
204
CHAPTER 13
REPORTS
FORMS
14 Forms
You can print all the standard business documents you send to customers, employees, and vendors: quotations, order confirmations, invoices,
packing slips, shipping labels, statements, purchase orders, checks, receipts, payment notifications, payslips, and labels.
You can print forms individually as you complete a transaction (for example, an invoice for a cash sale) or print batches of forms (for example, a
monthly check run for vendor payments).
You can also customize the appearance of your forms. You can change the size of the form, print multiple forms on a single page, change fonts,
move fields, create text labels, and add your own logos and graphics.
Your forms are stored in the Forms folder within the your MYOB software installation folder. This enables you to share forms among your
company files and easily transfer them from one computer to another.
Finding forms
Forms can be accessed from the command center of the
associated transaction. For example, purchase order forms are
accessible through the Purchases command center.
„
To find forms
1
Go to the appropriate command center for the type of form
you want to find. For example, Sales command center for
invoice forms.
2
Find the type of form you want and click the relevant
command center function—see the following tables.
„
205
Banking command center
Type of form
Command center function
Checks
Print Checks
Receipts
Print Receipts
Payment Notifications
Print/Email Payment Notifications
Sales command center
Type of form
Command center function
Invoices
Print/Email Invoices
Packing slips
Print/Email Invoices
„
„
Payroll command center
Type of form
Command center function
Labels
Print/Email Invoices
Type of form
Command center function
Statements
Print/Email Statements
Paychecks
Print Paychecks
Receipts
Print Receipts
Pay stubs
Print/Email Pay Stubs
W-2s and W-3s
Prepare Payroll Tax Forms
Purchases command center
Type of form
Command center function
Purchases (item, service
and professional)
Print/Email Purchase Orders
Checks (payable)
Print Checks
1099s and 1096
Print 1099s and 1096
Payment Notifications
Print/Email Payment
Notifications
„
Card File command center
Type of form
Command center function
Mailing labels
Print Mailing Labels
Personalized letters
Create Personalized Letters
Sending forms
You can send forms when you record a transaction, or later, as a
batch.
You can print payment notifications and checks when you record
transactions in the Spend Money, Pay Bills, or Settle Returns &
Credits window.
Sending forms when you record a
transaction
You can print, email, or fax forms as you enter transactions in the
Sales and Purchases window.
Automatically print, email, fax, or save forms You can set
up your preferences so that you can automatically print, email, fax,
or save sales and purchases when you record them. To do this, select
the required option in the Sales or the Purchases tab of the
Preferences window.
TIP :
206
CHAPTER 14
FORMS
Sending forms in a batch
Instead of printing each form in the transaction window when
you record it, you can select a delivery status option to print or
email sales, purchases, and payment notifications later, in a
batch.
To do this, select from the following options in these transaction
windows.
„
Purchases—select either To be Emailed, To be Printed, or To
be Printed and Emailed from the Bill Delivery Status field in
the Purchases window.
After you have completed a number of transactions, say, the
day’s invoices, you can print or email a transaction batch. See ‘To
print forms’ below and ‘To email forms’ on page 208.
„
Sales—select either To be Emailed, To be Printed, or To be
Printed and Emailed from in the Invoice Delivery Status
field in the Sales window.
If you selected the To be Printed and Emailed delivery status,
you need to complete both procedures.
To print forms
1
„
Click the command center function for the forms you want to
print. For example, if you want to print a sales invoice, go to
the Sales command center and click Print/Email Invoices.
The Review [...] Before Delivery window appears.
Payment notifications—select either To be Emailed, To be
Printed, or To be Printed and Emailed from the Payment
Notification Delivery Status field in the Spend Money,
Settle Returns & Credits, or Pay Bills windows.
SENDING FORMS
207
2
Click the To Be Printed tab.
3
Select the transaction type in the [...] Type field. For example,
if you want to print item invoices, select Item.
4
Click in the select column next to each transaction you want
to print. If you want to print all the transactions, click the icon
in the heading of the select column ( ).
5
If you want to view the transaction details, click the zoom
arrow ( ) next to the transaction.
6
Type the number of copies you want to print in the Print [...]
Copies field.
If you are printing sales invoices and you also want to print
packing slips or mailing labels, type the number of copies in
the Packing Slips per Sale and Labels per Sale fields.
7
8
If you want to filter the transaction information or change the
type of stationery the forms will be printed on, click
Advanced Filters. For more information, see ‘Advanced
filters’ on page 209.
Click Print.
3
Make a selection in the [...] Type field. For example, if you
want to email an item sale to a customer, select Item.
4
Click in the select column ( ) next to the transaction you
want to email. If you want to email all the transactions, click
the icon in the heading of the select column.
5
If you want to view the transaction details, click the zoom
arrow ( ) next to the transaction.
6
If you want to change a recipient’s email address, select their
name and then type or select the address in the Email
Address field.
7
Enter a subject title and message or accept the default title
and message. If you want to change the default title and
message, click Email Defaults.
8
If you want to change the type of information you are going
to email or the type of stationery it will appear on, click
Advanced Filters. For more information, see ‘Advanced
filters’ on page 209.
9
Click Send Email.
To email forms
1
2
208
Click the command center function for the forms you want to
email. For example, if you want to email payment
notifications to your vendors, go to the Purchases command
center and click Print/Email Payment Notifications.
Click the To Be Emailed tab.
CHAPTER 14
FORMS
Advanced filters
Several stationery choices are available, depending on the
type of form you are currently working with.
You can filter the amount of information and change the
stationery you want to use when you print or email a form.
1
Click Advanced Filters in the Review [...] Before Delivery
window. The Advanced Filters window appears.
Stationery
Select this for…
Preprinted
Select the preprinted stationery to print on paper
that already contains lines, columns, and
headings. The preprinted stationery is designed to
match most commonly used forms provided by
third-party forms vendors.
Note that this type of stationery is not suitable for
emailing forms.
Plain paper
Select plain-paper stationery if you want to print
on blank paper. Lines, columns, and headings are
automatically printed with the form’s information.
Customized
Select any customized stationery forms if you
want to print or email a form you have already
customized. See ‘Customizing forms’ on
page 210 for more information about
customizing forms.
Select the transactions
2
3
Select the transaction type and specify if you want to sort by
all cards or a selected card.
If you want to filter the transactions to be included, select
from the options in the middle section of the window. For
example, enter a date range or reference number range.
If you are using continuous-feed paper or pre-printed
stationery... If you want to test the alignment of the
information that will be printed using sample data, click Print
Alignment Form.
Select the stationery
4
TIP :
In the Selected Form for [...] field, select the stationery you
want to use when you print or email your forms.
5
SENDING FORMS
When you have finished making your selections in the
Advanced Filters window, click OK. The Review [...] Before
Delivery window reappears, displaying records according to
your filter criteria.
209
Customizing forms
You can change the look and content of printed checks, pay
stubs, payment notifications, purchases, receipts, invoices,
packing slips, labels, statements, bills, and mailing labels. You can
also change the size of a form, add text labels, draw lines and
boxes, paste graphics on the form, move fields, change the size
of fields, and more. Then you can save your customized
stationery so that you can select it when you print or email the
form.
Task 1: Display the form
1
Go to the Setup menu, choose Customize Forms and
choose the type of form you want to customize. The
Customize Forms window appears.
2
Select the form you want to customize In the Form to
Customize field, and click Customize. The Customize [...]
window appears.
Customized forms are saved to the Forms folder on your local
computer. If you share a company file across a network and you
want other users to be able to access the customized forms you
create:
1
Copy the customized form from your local folder to the
Forms folder on the host computer.
2
Then copy the forms to the Forms folder on each workstation
that accesses the company file.
A
B
C
D
Back up forms stationery Back up the Forms folder
before customizing any forms so you can always revert to the
originals.
CAUTION :
Do these tasks to create, save, and print your customized forms:
Task
210
See
1
Display the form
below
2
Set up form properties
page 211
3
Add and edit elements
page 211
4
Preview the customized form
page 212
5
Save the customized form
page 212
6
Print the customized form
page 212
A
Tool palette
The tool palette provides you with
customization tools.
B
Preview
Click to preview your form.
C
Layout list
Select the required layout for a check stub.
(Check forms only.)
D Data fields
Data fields contain system-generated
information.
CHAPTER 14
FORMS
If you want to:
a make the grid visible in the layout, select Show Grid. Note
that the grid will not be printed.
b align the top and left margins of fields with the closest grid
lines when you are repositioning them, select Snap to
Grid.
c change the spacing between the grid lines, make a
selection from the Grid Size menu.
Checks have two parts A check form has two parts:
the check itself and the stub. You customize the check and the
stub separately. In the check Customize window, select the
appropriate stub layout in the Layout field. For example, the
Regular layout is assigned to checks recorded in the Spend
Money window and the Payable layout is assigned to checks
recorded in the Pay Bills window.
NOTE :
Task 2: Set up form properties
1
7
If you want, select a background graphic for the form:
a Click Insert Background. The Open window appears.
b Select the graphic file you want to use and click Open. The
Field Properties window displays the graphic in the
Sample Display area.
c Using the Display menu, choose how the background
graphic will appear on your printed form:
„ Top will position the image at the top of the form.
„ Center will center the image on the form.
„ Tile will repeat the image in a grid-like pattern across
and down the entire form.
„ Stretch will enlarge the image to fill the entire form.
(Depending on its size and shape, this setting can distort
the image.)
Click OK.
Click the form properties (
) button in the tool palette of
the Customize [...] window.
The Forms Properties window displays two tabs: the Layout
tab and the Options tab.
Set up the paper and form sizes
2
In the Layout tab, type the number of forms you want to
print per page.
3
Select the required type of paper from the Paper list.
4
Type the margins for the page.
8
5
Type the width and length of the form (not the paper) in the
Form Size fields. If you are printing four checks per
11x17-inch page, type the width and length of a single check
and not the width and length of the 11x17-inch page.
Task 3: Add and edit elements
Set up the grid and add a background graphic
6
Add, remove, or edit elements—such as text, graphics, and
lines—according to your needs. For more information, see
‘Adding and editing elements’ on page 213.
In the Options tab, specify the grid options for the form. The
grid will help you position and align form fields.
CUSTOMIZING FORMS
211
Task 4: Preview the customized form
Task 6: Print the customized form
At any time during the customization process, you can display a
screen preview of your work.
Printing a customized form is the same as printing a default form.
However, before you can print using your customized form, you
need to select it.
1
Click the Preview button in the Customize [...] window.
„
If you are printing from the Review […] Before Delivery
window:
„ Click Advanced Filters and select the form in the Selected
Form for [...] field.
„ Print the form as you normally would.
„
If you are printing from a transaction window:
„ Click Print and choose Select Another Form. The Select
From List window appears.
„ Select the customized form and click Print.
The form is displayed in the Print Preview window.
2
If you want to view the form in more detail, increase the
default value (75%) in the Zoom field and press TAB.
3
If you want to check your current printer and page settings,
click Print Setup.
4
When you have finished previewing the form, click Close.
For more information about printing forms, see ‘Sending
forms’ on page 206.
Task 5: Save the customized form
Changing the default fonts on forms
When you are satisfied with the changes you have made to the
form, you should save the customized form.
Every form is assigned default fonts. You can change these
default fonts if you prefer your forms to have a different
appearance.
If you have modified a custom form you created previously, click
Save Form.
If you want to create a new custom form that contains the
changes you have made, click Save Form As. The Save As
window appears. Enter a name and a brief description for the
new layout and click OK.
212
For more information on printing forms, see ‘Sending forms’ on
page 206.
1
Go to the File menu and choose Default Fonts. The Default
Font Selection window appears.
2
Click Forms. The Change Default Forms Font window
appears.
3
Choose the font style and size for the printed characters on
your forms. The sample box previews the appearance of your
choices.
4
Click OK when you have finished.
CHAPTER 14
FORMS
Adding and editing elements
There are a number of different elements you can edit, see:
„
‘Adding and editing data and label elements’ below
„
‘Adding and editing graphic elements’ on page 214
„
‘Editing all elements with common commands’ on page 216
Adding and editing data and label
elements
You can add elements to, and change elements on, a form using
the tool palette shown below:
The column on the right indicates the field type (Data,
Column) and where it appears on a form. For example, the
Total field only appears on the last page (as shown).
2
Select the fields you require by clicking in the select column
next to them.
3
Click OK. The selected data fields appear on the form.
4
Edit the properties of the field as required—see ‘Editing all
elements with common commands’ on page 216.
To change the appearance of a data field
NOTE :
Layout selection
The Layout list only appears for check
forms.
1
The Field Properties window has two tabs: the Layout tab
where you specify the text, format, background color,
location, and size of the field, and the Borders tab where you
specify the layout, color, and width of the field’s borders.
To add a data field to a form
1
Click the add data (
) button. The Select from List
window appears. This window lists all the data fields available
for the form you selected.
ADDING AND EDITING ELEMENTS
If you want to change the properties of a data field,
double-click it. The Field Properties window appears.
2
Change the properties as required and click OK.
213
To add a text field to a form
1
Click the add text button ( ) and then click on the form
where you want to place the text field. A new text label
named Text Field appears.
2
Double-click the field. The Field Properties window displays
the Layout tab where you specify the text content, location
and size, text format, and background color of the field, and
the Borders tab where you specify the layout, color, and
width of the field’s borders.
3
Click OK to save the settings and close the Field Properties
window.
Adding and editing graphic elements
You can also add graphic elements to a form: rectangles to
visually group elements, lines to separate elements, icons, logos,
photos, location maps, and other image elements.
To add an image to a form
1
Click the add graphic button (
) in the Customize window
and then click on the form where you want to place the
graphic. A new graphic element appears.
2
Double-click the image element. The Field Properties
window appears.
3
Click Load Picture. The Open window appears.
4
Select the image file and click Open. The Field Properties
window displays the graphic in the Preview Picture area.
5
Type the field location and field size for the picture.
6
Click OK to close the Field Properties window. The picture
appears in the Customize window.
7
If you want, move the image or change the properties of the
image—see ‘Editing all elements with common commands’
on page 216.
If the text is longer than the size of the field, you may need to
resize it—see ‘Editing all elements with common commands’ on
page 216.
To change the text in a text field
1
Double-click the text label. The Field Properties window
appears.
2
Change the content in the Text field on the Layout tab as
required.
3
Click OK.
To change the font in a data field or text field
214
1
Double-click the data field or text label to be changed. The
Field Properties window appears.
2
Click Text Format on the Layout tab. The Text Format
window appears.
3
Make your choices in the Font, Font Style, Size, Justify, and
Effects fields in this window.
4
If you want to change the font color:
a Click Font Color. The Font Color window appears.
b Select the new color and click OK. The Text Format
window reappears.
5
Click OK.
CHAPTER 14
FORMS
To paste an image on a form
To draw a rectangle on a form
You can paste almost any graphic that can be placed on the
clipboard into a form, regardless of its graphic format.
1
Click the rectangle button (
2
Click and hold the mouse at the location on the form where
you want the top left corner of the rectangle to appear.
Drag to the right and down to where you want the rectangle
to end and then release the mouse button.
).
1
Open your graphic file in any graphics software.
2
Copy the graphic to the clipboard.
3
3
Click the add graphic button (
) in the Customize window.
Then click the location on the form where you want the
graphic to appear. A graphic element appears.
To change the thickness of a line or rectangle
4
Double-click the graphic element. The Field Properties
window appears.
1
Double-click the line or rectangle. The Field Properties
window appears.
5
Click Paste Picture. The graphic appears in the Preview
Picture area.
2
Choose a thickness in the Line Size section of the Field
Properties window.
6
Type the field location and element size for the graphic.
3
Click OK.
7
Click OK. The graphic appears in the Customize window.
To draw a line on a form
You can draw a vertical or horizontal line on a form.
1
Click the draw line button ( ) and then click and hold the
mouse at the location on the form where you want the line to
begin.
2
Drag to where you want the line to end and then release the
mouse button.
ADDING AND EDITING ELEMENTS
215
Editing all elements with common
commands
To…
Resize
Do this…
1
Click the element once to select it. Small squares,
called handles, appear on the element.
2
Drag a handle to change the size of the element.
1
Click the element you want to send behind
another element.
2
Click the Send to back button (
1
Click the element you want to bring in front of
another element.
2
Click the Send to front button (
The following editing procedures are applicable to any element:
To…
Do this…
Copy and paste
1
Click an element once to select it.
2
Go to the Edit menu and choose Copy.
Note that if you want to paste the element onto
another form, display that form in the Customize
window.
3
Go to the Edit menu and choose Paste. A copy of
the element appears in the window.
Delete
Select the element and press BACKSPACE or DELETE on
your keyboard.
Undo last
change
To undo the last change you made to the current form,
either click the undo button (
) or press CTRL + Z.
Move an
element
Drag and Drop
1
Click the element and hold down the mouse
button. The cursor changes to a hand pointer.
2
Drag the element to the desired location. In the
example below, the [Invoice #] data field is being
dragged below its original position.
Send to back
Bring to front
).
).
There are also procedures specific to particular kinds of
elements—see ‘Adding and editing data and label elements’ on
page 213 and ‘Adding and editing graphic elements’ on
page 214.
Specify the element location
1
Double-click the element you want to move. The
Field Properties window appears.
2
In the Location fields, type the distance from the
top and left edges of the form to the top left
corner of the element.
Keyboard arrows
216
1
Select the object you want to move.
2
Use the arrow keys on your keyboard to move the
element to the desired location.
CHAPTER 14
FORMS
The Card File is a repository of contact records, known as cards, that you can create for your customers, vendors, employees, and personal
contacts. A card lets you store contact information and enables you to track and analyze the transaction history for each individual and business.
Creating a card
You need to create a card for an individual or business if you want
to perform any of the following tasks:
„
record sales and track the amounts owing to you
„
record purchases and track the amounts owing to vendors
„
print mailing labels
„
print personalized letters
„
record contact details.
To add a personal card
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
2
Click New. The Card Information window appears.
3
Select the required card type from the Card Type list.
4
Type the name for the card and press TAB.
5
If you want to, complete the other fields in the Profile tab.
When you set up your company file, you may have created cards
for your customers and vendors. In addition to these cards, you
can create employee cards and personal cards for your friends
and relatives.
If you want to create a card for…
See
a customer
page 69
a vendor
page 91
an employee
page 117
a friend or relative
below
217
CONTACT MANAGEMENT
15 Contact management
6
Click the Card Details tab. In this tab, you can:
„ add a picture—see ‘Card pictures’ on page 231.
„ enter identifiers. These are useful for grouping your
cards—see ‘Card identification codes’ on page 231.
„
7
use custom lists and fields. These enable you to record
additional information about the card—see ‘Customizing
cards’ on page 230.
When you have finished entering the card details, click OK to
save the card and close the Card Information window.
Keeping in touch with your contacts
At times you may want to send a letter to customers, vendors,
employees, and personal contacts. For example, you might want
to send payment reminders, thank you letters, or special offers
using letter templates.
There are several card file features that can help you with these
tasks, and can help you keep a record of each contact you make.
Personalized letters
You can create personalized letters (also known as mail-merge
letters) for any of your contacts. A personalized letter is a
document template that contains standard text as well as fields
that can be automatically filled with data stored in your company
file.
Personalized letters are useful when you need to send the same
letter to several contacts. For example, you may want to send
several slow-paying customers a payment reminder letter.
Instead of entering each contact’s information on the letters
yourself, you can set up a letter template that contains the text
you want to appear, and insert data fields that automatically fill in
the contact’s name, address, and the amount owing.
218
Printing personalized letters using Microsoft Word and
OfficeLink OfficeLink is a feature that automates the process of
merging contact information stored in your company file with a
Microsoft Word template (a .dot file). Your MYOB software
includes a set of templates that you can use, and they are stored
in the Letters folder, which is located within your MYOB
software’s program folder.
List of templates provided with your software
Use this template...
When you want to...
Apology.dot
apologize for a problem your company has
caused for a customer, and to assure the
customer that the problem will be addressed.
Backordr.dot
let your customers know that items they’ve
ordered are on backorder and will be shipped as
soon as possible.
Blank.dot
write your own letter.
BounceCK.dot
notify customers whose payments have
bounced.
Coll_1st.DOT
remind customers whose accounts have become
overdue to make a payment.
Coll_2nd.DOT
express greater urgency than the first collection
letter and request that your customer contact
you immediately.
CHAPTER 15
CONTACT MANAGEMENT
To print personalized letters using Microsoft Word
Use this template...
When you want to...
Coll_3rd.DOT
urge customers who have overdue payments to
make a payment before their credit history is
damaged.
Coll_fin.DOT
advise customers that you will turn their account
over to a collection agency if payment isn’t made
within a specified number of days.
Collection - Final
Option 2.dot
advise customers that you will turn their account
over to a collection agency if payment isn’t made
within a specified number of days.
1
Collection - Sent to
Agency.dot
advise customers that you have turned their
overdue payment over to a collection agency
who will be getting in touch with them.
Go to the Card File command center and click Create
Personalized Letters. The Review Cards Before Exporting
window appears.
2
Click in the select column next to each contact to whom you
would like to send a personalized letter.
FaxCover.dot
create a fax cover page. This page includes room
for a memo.
Resolved.dot
reply to customers who have questioned an
amount on their monthly statement. This letter
indicates that you are looking into the matter
and that you will credit the customer’s account
for the amount in question while the matter is
investigated.
Credit
Application.dot
provide a standard credit application form to
customers, with a section detailing your credit
terms.
ThankYou.dot
thank new customers for their business.
Thank You Offer
Letter.dot
thank new customers for their business and offer
a discount on future purchases for a limited time.
If you want to send letters to customers with unpaid
invoices Display the A/R (Accounts Receivable) tab of the To Do
List window and click the Action column for each customer to
whom you want to send a letter. Click Mail Merge to select a
collection letter template, which includes information such as the
customer’s outstanding balance.
TIP :
Filter your contacts You can filter your contact list to
only show contacts who are located within specific postcodes by
clicking Advanced filters and entering your criteria.
TIP :
3
Click Mail Merge. The Select from List window appears.
4
Select the template you would like to use and then click Use
Template.
Your letter appears in Microsoft Word, and depending on the
template you have selected, you will be prompted to enter
additional information, such as your name and title.
5
Edit the letters as required and then print them using
Microsoft Word.
You can edit these templates and create new ones using the
mail-merge features of Microsoft Word. For information about
working with mail-merge templates, see Microsoft Word Help.
KEEPING IN TOUCH WITH YOUR CONTACTS
219
To open a Microsoft Word template for editing
Filter your contacts You can filter your contact list to
show contacts who are located within specific postcodes by
clicking Advanced filters and entering your criteria.
TIP :
1
Start Microsoft Word.
2
Go to the File menu and choose Open. The Open window
appears.
3
Locate your MYOB software’s program folder, and then open
the Letters folder within it.
4
From the Files of Type field, select All Files.
5
Select the template file (.dot) you want to modify, and click
Open. The template you selected appears.
The template includes MYOB OfficeLink field codes,
formatted as text surrounded by double brackets, for
example, [[Name]]. These fields will automatically be filled
with your contact’s details when the letter is printed.
6
Depending on which version of Microsoft Word you are
using, modify the template as you usually would and then
save it.
Save the customized template with a different name If
you do not want to overwrite the letter templates provided with
your software, save the customized template with a different
name in the Letters folder. You can then select your customized
template when you want to print letters.
3
Click Disk. A window with a list of file formats appears.
4
Choose either the Tab-Delimited Text File or
Comma-Separated Text File option.
Check what file formats your word processing
software requires Most word processing software allows
mail-merge data to be tab-delimited (data is separated by tabs)
or comma-separated. If your software requires a specific format,
choose that format at this step.
NOTE :
5
Click Save. The Save As window appears.
6
If necessary, change the text file’s name and location and
then click Save.
The text file containing your contacts’ details is saved at the
location you specified.
TIP :
To print a personalized letter using other word
processors
If you want to use a mail-merge letter template created using
word processors other than Microsoft Word, you will need to
export the data out of your company file and then merge that
data with the letter.
220
1
Go to the Card File command center and click Create
Personalized Letters. The Review Cards Before Exporting
window appears.
2
Select the contacts to whom you would like to send a
personalized letter.
7
Use your word processing software to merge the data
contained within the text file with a letter template that you
have created.
Mailing labels
If you print and send checks, quotes, orders, invoices,
statements, or personalized letters you may also want to print
mailing labels that you can stick on the envelopes.
The Print Mailing Labels function in the Card File command
center prints your contact’s name and address on sheets of
adhesive mailing labels. You customize the way mailing labels are
printed, including their size, the number of labels per sheet and
the margins. For information about customizing mailing label
forms, see ‘Customizing forms’ on page 210.
CHAPTER 15
CONTACT MANAGEMENT
To print mailing labels
1
Go to the Card File command center and click Print Mailing
Labels. The Review Labels Before Printing window appears.
Print invoices and labels simultaneously When you
print an invoice batch using the Print/Email Invoices function
(Sales command center), you can choose to print a label for
each invoice.
TIP :
2
Click Advanced Filters. The Advanced Filters window
appears.
3
From the Selected Form for Mailing Label list, select the
form template that best matches the size and layout of your
labels and label sheets.
If a suitable form template is not available, you can customize
an existing template to suit your requirements. For
information about customizing forms, see ‘Customizing
forms’ on page 210.
4
5
6
Make any other selections in the Advanced Filters window as
required (for example, you may want to filter your contacts
list to only those living within a specific postcode) and then
click OK.
you will want to recontact them by if their invoice is still
outstanding.
When a customer or vendor calls, you can use the log entry to
retrieve a complete history of your business relationship with that
contact.
Automatic log entries You can choose to automatically create
log entries each time you record a sale, purchase, or banking
transaction. The log entry contains basic information about the
transaction, such as the invoice number, check number, and the
amount. For more information, see ‘To automatically create
contact log entries’ on page 222.
NOTE : Your company file’s size may increase significantly If you
record many transactions and choose to automatically create log
entries for them, the size of your company file may increase
significantly. If the company file size becomes an issue, you can
purge old log entries and other data. For more information about
purging information, see ‘Purging information that is no longer
needed’ on page 268.
To view the contact log
1
Click in the select column ( )next to each contact for whom
you would like to print a mailing label.
Go to the Card File command center and click Contact Log.
The View Contact Log window appears.
2
Ensure you have enough mailing label sheets set up at your
printer and then click Print.
From the Name list, select the contact for whom you want to
view the log.
3
If you want to view or edit the detail of an existing log entry,
select the entry and click Edit.
Contact log
The contact log enable you to keep a detailed log of all the phone
calls you and your contacts make to each other, and any other
type of correspondence.
For example, let’s say that you call customer A regarding an
overdue invoice. You could create a log entry that records the
date of the phone call, a summary of the outcome, and the date
KEEPING IN TOUCH WITH YOUR CONTACTS
To create a contact log entry
1
Go to the Card File command center and click Contact Log.
The View Contact Log window appears.
2
From the Name list, select the contact for whom you want to
create a log entry, and click Use Card.
3
Click New. The Contact Log Entry window appears.
221
4
Complete the Contact Log Entry window as described in the
table below.
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
Click the Banking tab.
3
To create an automatic log entry for each payment you
record, select the Make Contact Log Entry for Every Check
option.
4
To create an automatic log entry for each receipt you record,
select the Make Contact Log Entry for Every Deposit
option.
5
Click the Sales tab.
Card
The name of the contact.
6
Contact
Type the name of the person that is associated with this
entry. For example, you can record the name of the
person you spoke to on the phone.
If you have specified a contact person in the contact’s
card, you can click the down-arrow to choose that person.
To create an automatic log entry for each sale you record
(including quotes and orders), select the Make Contact Log
Entry for Every Sale option.
7
Click the Purchases tab.
8
To create an automatic log entry for each purchase you
record (including quotes and orders), select the Make
Contact Log Entry for Every Purchase option.
9
Click OK to close the Preferences window.
Date
Type the date you spoke or wrote to the contact. If you are
simply entering an appointment or reminder, you can
enter today’s date.
Notes
Enter any information you want to save about the
conversation or follow-up.
Elapsed
Time
If you want to record the time you spend speaking to the
contact, or working on a particular task related to the
entry, type the time in hours and minutes. For example, if
you spend 15 minutes, enter 15. If you spend 1 hour and
15 minutes, enter 1:15.
Other ways to keep in touch
To send an email message to a contact
1
In the Card Information window, display the Profile view for
the contact to which you want to send an email message.
If you want to be reminded to follow up the contact, type
or select the date you want to be reminded to recontact
them. The reminder will appear in the Contact Alert tab
of the To Do List on this date. For more information, see
‘To view contact alerts’ on page 232.
2
In the Profile tab, select the address location in the Location
field.
3
If an email address is entered in the Email field, click Email.
The Email window appears.
Log
View all log entries for the selected contact.
4
New
Record the current log entry and create a new entry for
this or another contact.
The Email Address field displays the name and email address
from the card. You can change these if you wish.
Recontact
Date
222
To automatically create contact log entries
CHAPTER 15
CONTACT MANAGEMENT
To access a contact’s website
1
2
In the Card Information window, display the Profile view of
the contact.
3
If a website is listed in the Website field, click Website.
4
Your contact’s website will appear in your web browser.
Make sure your computer is connected to the Internet.
Grouping your contacts
You can group and sort your contacts according to common
attributes by assigning identifiers to their cards and the
appropriate attributes from custom lists you have defined.
Grouping contacts using these features makes it easier for you to:
you can assign them the OW identifiers. You can then filter a
report to only show your overseas wholesale customers by
specifying the OW identifiers in the Report Customization
window.
„
filter reports to show only information specific to a group of
contacts
To define identifiers
„
identify which of your contacts have a particular attribute
1
„
filter lists so that it’s easier for you to send a batch of
personalized letters, customer statements, and other forms to
a group of contacts.
Go to the Lists menu and choose Identifiers. The Identifiers
window appears. It provides a field for each of the 26 letters
of the alphabet.
2
Enter a description for as many identifiers as you want and
click OK.
Identifiers
To assign identifiers to a card
Identifiers are one-letter labels you can assign to cards.
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
2
Click the zoom arrow next to the card you want to edit. The
Card Information window appears.
3
Click the Card Details tab.
4
Click Identifiers. The Select Identifiers window appears.
5
Click next to the identifiers you want to assign to the card.
6
Click OK.
When you create reports or view card lists, you can limit the
information to a particular group of cards by specifying the
identifiers that you’ve assigned to those cards.
For example, say you want to be able to identify all clients who
are not-for-profit organizations. You could assign them identifier
N and when printing sales reports you can choose to filter the
report to show only customers who have that identifier.
You can also assign multiple identifiers to a card. For example, say
you assign O to your overseas customers and W to your
wholesale customers. If you have overseas wholesale customers
GROUPING YOUR CONTACTS
223
Custom lists
You can set up lists of predefined attributes and assign the
appropriate attributes to your cards.
To create a custom list entry
1
Go to the Lists menu, choose Custom Lists, and then choose
the card type for which you want to create a custom list entry,
for example, Customers. The Custom Lists window appears.
2
Select the custom list for which you want to create an entry.
3
Click New. The Edit Custom List window appears.
4
Type the custom list entry’s name and then click OK.
By assigning attributes from a custom list to your cards, you are
able to group your contacts to a greater degree than is possible
with identifiers.
For example, you could assign all your wholesale customers the
W identifier. If you also set up a custom list containing each of
your sales territories, and allocate those customers to the
appropriate territory, you can then filter reports to only show
information about wholesale customers who are within a
particular sales territory.
To name a custom list
1
Go to the Lists menu, choose Custom List & Field Names,
and then choose the card type for which you want to create a
custom list, for example, Customers. The Custom List and
Field Names window appears.
The entry appears in the Custom Lists window.
To assign a custom list entry to a card
224
2
Enter names for the lists you want to create for the card type
you have selected in the Name of Custom List fields.
3
Click OK. The names you have entered will now appear in the
Card Details tab of the Card Information window.
1
Go to the Card File command center and click Cards List.
2
Click the zoom arrow next to the card you want to edit. The
Card Information window appears.
3
Click the Card Details tab.
4
Click the search icon next to the custom list field you want to
edit and then select the entry that you want to assign to the
card.
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CONTACT MANAGEMENT
Synchronizing MYOB cards with Microsoft Outlook contacts
You can synchronize your MYOB cards and your Microsoft
Outlook contacts. If your business uses Microsoft Outlook to
email and manage contact information, this will make it easier for
you to keep both your MYOB cards and your Outlook contacts up
to date.
Your MYOB cards are your customer, vendor, employee, and
personal cards stored in your MYOB card file. Your Outlook
contacts are your contacts stored in your Microsoft Outlook
address book.
When you synchronize your MYOB cards and your Outlook
contacts, you can:
„
make the details in your Outlook contacts match the details in
your MYOB cards (by exporting your MYOB cards to your
Outlook contacts) or
„
make the details in your MYOB cards match the details in
your Outlook contacts (by importing your Outlook contacts
to your MYOB cards).
Option
Description
Update existing
contacts
New contacts are added and existing
contacts are updated. You will not be
prompted to confirm updates.
Do not update
existing contacts
New contacts are added but existing
contacts are not updated. You are not
prompted to confirm any updates.
Ask me to confirm
updates
New contacts are added and you are
prompted to confirm updates. If you select
this rule, you specify how you want to deal
with the discrepancies between the details
in your MYOB cards and the details in your
Outlook contacts.
You can:
• review and update the details for each
contact
• select to update all contacts (if you
select this option, you will not be
prompted to confirm any further
updates) or
• skip an update for a contact and leave
the details for the contact unchanged.
When you synchronize, the following details are imported or
exported: company name or contact name, address details,
email and web addresses, and telephone, fax, and cell phone
numbers.
If you are exporting your MYOB cards to your Outlook contacts,
you can also include your Card File custom fields in the export.
When you do this, you specify how your custom fields match the
Categories, Anniversary, Birthday, or Spouse’s name fields in your
Outlook contacts. For information on setting up Card File custom
fields see ‘Custom fields’ on page 230.
Synchronization update rules As part of the synchronization
process, you choose whether or not you want to update the
details for existing contacts. To do this, you select from one of the
following update rules.
Software required You require Microsoft Outlook 2000
(or later), MYOB Outlook Sync and MYOB ODBC Direct v9
installed on your computer. For more information, refer to the
Getting Started guide.
Single-user access required Synchronizing cards and
Outlook contacts requires single-user access. For more information,
see ‘Single-user file locking for special tasks’ on page 270.
CAUTION :
SYNCHRONIZING MYOB CARDS WITH MICROSOFT OUTLOOK CONTACTS
225
Exporting your MYOB cards to your
Outlook contacts
2
Click Sync Cards. The Synchronize Cards window appears.
3
Select the card types that you want to synchronize.
When you export your MYOB cards to your Outlook contacts,
your contacts are saved by default to group contact folders. For
example, Customer contacts are saved to a folder called
MYOB Customers.
If you use a Personal Digital Assistant (PDA) and want to
synchronize your Outlook contacts and your PDA, your contacts
must be saved to the Microsoft Outlook default contacts folder.
When you export your MYOB cards to your Outlook contacts,
you can select an option to save your contacts to the default
contacts folder (see step 7 on page 227).
You can synchronize cards from any of the Cards List
tabs (All Cards, Customer, Vendor, Employee, and
Personal) The default card type selected varies according to
the tab you are on when you click Sync Cards.
NOTE :
4
Click Synchronize Cards. The Outlook Sync - Import and
Export Options window appears.
5
If you want to include inactive cards in your synchronization,
select the Allow the export of inactive MYOB cards to
Outlook option. For information about inactive cards, see
‘Inactivating or reactivating a record’ on page 179.
Back up your Outlook contacts Exporting your MYOB
cards to your Outlook contacts will change the details recorded in
your Outlook contacts. Back up your Outlook contacts before
synchronizing. See your Microsoft Outlook documentation for
instructions.
CAUTION :
To export your MYOB cards to your Outlook contacts
1
226
Go to the Card File command center and click Cards List.
The Cards List window appears.
CHAPTER 15
CONTACT MANAGEMENT
6
Select a synchronization rule from the Update Rules list. For
more information, see ‘Synchronization update rules’ on
page 225.
7
If you want to save your MYOB cards to your Outlook
contacts default folder (you need to do this to synchronize
your Outlook contacts and your PDA), or if you want to
export your MYOB custom fields to your Outlook contacts,
click Settings. The Outlook Sync - Settings window appears.
9
Select a period for your MYOB software to access your
Outlook contacts:
a Select the Allow access for option.
b Select a period from 1 minute to 10 minutes.
c Click Yes.
The export process starts.
10
If you selected the Update existing contacts rule or the Do
not update existing contacts rule, the Outlook Sync Export Summary window appears. Go to step 11 below.
If you selected the Ask me to confirm updates rule, the
Outlook Sync - Confirm Update to Outlook Contact
window appears.
Select how you want to deal with each update. When you
have confirmed all updates, the Outlook Sync - Export
Summary window appears.
a If you want to synchronize your Outlook contacts and your
PDA, select the Import and export all MYOB cards to the
default contacts folder option. All contacts are then saved
to your default Outlook contacts folder.
b If you want to export your MYOB custom fields to your
Outlook contacts, select a matching Outlook contact field
for Custom Field 1, Custom Field 2, and Custom Field 3.
c Click OK. The Outlook Sync - Import and Export Options
window reappears.
8
11
Review the export summary.
Click Export. A Microsoft warning appears.
Option
Description
Added new
contacts
The number of new contacts added to your
Outlook contacts.
SYNCHRONIZING MYOB CARDS WITH MICROSOFT OUTLOOK CONTACTS
227
Option
Description
Updated
duplicate
contacts
The number of Outlook contacts updated to
match the details in your MYOB cards. Note that if
you selected the Do not update existing
contacts rule, updated duplicate contacts will
always be 0.
Rejected
cards
The number of cards you skipped (if you selected
the Ask me to confirm updates rule) or the
number of duplicate contacts (if you selected the
Do not update existing contacts rule). Duplicate
contacts have not been updated to match your
MYOB cards.
Note that if you selected the Update existing
contacts rule, rejected cards will always be 0.
Importing from the default contacts folder If you want to
import your contacts to MYOB cards from the default Outlook
contacts folder, type the card type for each contact in the
Categories field of the General tab.
Outlook import log If you want to view a list of the
records updated and the problems encountered during the
import, refer to the OutlookImport.html file. This file—readable
by any Internet browser—can be found in the OutlookSync
folder, which is located in your MYOB software’s program folder.
NOTE :
Importing your Outlook contacts to your
MYOB cards
You can import your Outlook contacts to your MYOB cards from
either the default contacts folder, or from group contact folders
created for each MYOB card type.
Importing from group contacts folders You need to save
your contacts to group contact folders labelled MYOB Customer,
MYOB Vendor, MYOB Employee, and MYOB Personal. For
instructions on how to set up group contact folders in your
Outlook contacts, refer to your Microsoft Outlook
documentation.
However, before you import your Outlook contacts, you need to
identify each contact as a customer, vendor, employee, or
personal contact.
Blank fields in your Outlook contacts are not included in
the import If a field in your Outlook contact is blank but the
corresponding field in your MYOB card is complete, this field will be
skipped during the import process. This ensures that blank fields
don’t overwrite contact details recorded in your MYOB cards.
NOTE :
228
Before importing your Outlook contacts Check that the
details recorded in your Outlook contacts are up to date and
entered in the correct field.
CHAPTER 15
CONTACT MANAGEMENT
To import your Outlook contacts to your MYOB cards
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
2
Click Sync Cards. The Synchronize Cards window appears.
CAUTION : Back up your company file Importing your
Outlook contacts to your MYOB cards will change the details
recorded in your company file. To avoid losing contact details
stored in your company file, back up your company file before
synchronizing. For more information on backing up your
Company File, see ‘Backing up and restoring company files’ on
page 263.
5
Select a synchronization rule from the Update Rules list. For
more information, see ‘Synchronization update rules’ on
page 225.
6
If you want to import your Outlook contacts from the default
Outlook contacts folder, click Settings. The
Outlook Sync - Settings window appears. If you are
importing your contacts from group contact folders, go to
step 7 below.
Select the option Import and export all MYOB cards to the
default contacts folder and then click OK.
3
7
Click Import. A Microsoft warning appears.
8
Select a period for your MYOB software to access your
Outlook contacts:
a Select Allow access for option.
b Select a period from 1 minute to 10 minutes.
c Click Yes.
Select the card types that you want to synchronize.
You can synchronize cards from any of the Cards List
tabs (All Cards, Customer, Vendor, Employee, and
Personal). The default card type selected will vary according
to the tab you are on when you click Sync Cards.
NOTE :
4
Click Synchronize Cards. The Outlook Sync - Import and
Export Options window appears.
The import process starts and the Blank Field Warning
window appears.
SYNCHRONIZING MYOB CARDS WITH MICROSOFT OUTLOOK CONTACTS
229
9
Click Continue. If you selected the Update existing contacts
rule or the Do not update existing contacts rule, the
Outlook Sync - Import Summary window appears. Go to
step 10 below.
If you selected the Ask me to confirm updates rule, the
Outlook Sync - Confirm Update of MYOB card window
appears.
Select how you want to deal with each update. When you
have confirmed all updates the Outlook Sync - Import
Summary window appears.
10
Updated or
added cards
The number of cards added or updated in your
MYOB cards.
Updated or
added cards
with warnings
The number of cards updated but the details in
your MYOB cards may be incomplete.
Skipped
contacts
The number of contacts you chose to skip (if
you selected update rule Ask me to confirm
updates) and the number of contacts that
were not imported because they contained
blank Outlook contact fields.
Review the import summary.
MYOB import log If you want to view a list of the
records updated and the problems encountered during the
import, refer to the MYOBImport.html file. This file—readable
by any Internet browser—can be found in the OutlookSync
folder.
NOTE :
Customizing cards
Custom fields
If you need to record certain information about your contacts,
but can’t find a suitable card field for it, you may want to set up a
custom field.
For example, you could set up a field to record your customers’
birthdays or a field to record the dates of your employees’ most
recent performance review.
230
You can set up three custom fields for each card type and label
them according to your needs. You can then enter any
information you like in those fields.
If you need to, you can show this information in a report by
selecting the custom fields in the Report Fields tab of the Report
Customization window.
CHAPTER 15
CONTACT MANAGEMENT
To set up custom fields
1
2
3
Go to the Lists menu, choose Custom List and Field Names,
and then choose the card type for which you want to set up a
custom field, for example, Customers. The Custom List and
Field Names window appears.
Type the names of the custom fields you want to set up for
the card type you have selected in the Name of Custom Field
fields. For example, you could enter Birthday to record your
contacts’ birthdays.
Click OK. The names you have entered will now appear in the
Card Details tab of the Card Information window.
To enter an identification code
1
Go to the Card File command center and choose Cards List.
The Cards List window appears.
2
Click the zoom arrow next to the card you want to edit. The
Card Information window appears.
3
Enter a unique code of up to 15 alphanumeric characters in
the Card ID field.
4
Press TAB or click OK to save your changes.
To select contacts using Card IDs
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
Click the Windows tab.
3
Choose the Select Cards by Card ID, Not Card Name
option.
To enter custom field information in a card
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
2
Click the zoom arrow next to the card you want to edit. The
Card Information window appears.
3
Click the Card Details tab and type the information you want
to record in the appropriate custom field.
You can now select cards by their IDs and your card lists will
be sorted by ID instead of by last name or company name.
Card pictures
Card identification codes
If you have assigned identification codes (IDs) such as customer
numbers or account numbers to your customers, you can enter
those IDs in their cards.
You can also set a preference that will let you select customers by
their ID instead of their last name or company name when
entering a transaction. Customer search lists will also be sorted by
their ID when this preference is set. For more information, see ‘To
select contacts using Card IDs’ below.
You can display a picture of your contact by linking a picture file
to their card. The picture appears in the Card Details tab of the
Card Information window.
Any pictures you link are copied to the Graphics folder, which is
located within your company file’s folder. If you move your
company file, you will need to move the Graphics folder as well.
Supported picture formats Pictures need to be saved in
one of the following formats: bmp, jpg, tif, gif, or png.
NOTE :
The Card ID preference affects all card types If you
choose this preference, you will have to select all card types by their
IDs.
NOTE :
CUSTOMIZING CARDS
231
To link a picture
To replace a picture
1
Go to the Card File command center and click Cards List.
The Cards List window appears.
If you want to replace the picture displayed in a card with
another one, double-click the displayed picture, and continue
with step 5 in ‘To link a picture’ above.
2
Open the card for which you want to link a picture.
3
Click the Card Details tab and double-click the picture file
area. The Picture Information window appears.
To remove a picture
4
Click Link. The Open window appears.
5
Locate the picture file you want to display for this card and
then click Open. The Picture Information window appears
with the selected picture appearing on the right.
If you want to remove the displayed picture from the Card
Details tab, double-click the picture. In the Picture Information
window, click Unlink, and then click OK. The picture will be
removed from the Card Details tab but the picture file will
remain in the Graphics folder.
6
Click OK. The picture appears in the Card Details tab.
Reviewing your contact information
There are several tools you can use to review your contact
information.
Tool
Description
See
To Do List
The Contact Alert tab in the To Do List
displays log entries with recontact dates
on or before the current date.
below
Card
reports
Card reports give you lists of contact
information in several formats.
page 233
Find
Transactions
Find Transactions helps you quickly
find all transactions for a contact.
page 183
To view contact alerts
1
Click To Do List in any command center. The To Do List
window appears.
2
Click the Contact Alert tab. A list of all individuals and
businesses you need to contact appears.
Reminders that fall on a closed day If the recontact
date falls on a day that you have indicated as being closed in the
Business Calendar (accessible from the Setup menu), the
reminder will appear on the business day prior to the recontact
date.
NOTE :
The Overdue column shows how many days have elapsed
since the recontact date you specified on the log entry.
To clear a reminder from the list, click in the select column
next to the log entry and then click Remove.
232
CHAPTER 15
CONTACT MANAGEMENT
To print card reports
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Click the Card tab. The list of card reports appears.
3
Display or print the report that is appropriate to your needs.
Following is a list of the default information displayed in each
report. If required, you can customize the reports to display
more or less details (for information on how to customize a
report, see ‘Customizing reports’ on page 199).
Report
Description
Card List
Summary
A list of your contacts with their phone numbers,
current balances and identifiers.
Card List
Detail
A list of some of the information contained in
your contacts’ cards, including Address 1 and
Address 2.
Addresses
The contact name, address, and phone number
entered for Address 1 in each card.
Card
Transactions
A list of the transactions that have been allocated
to your contacts for a selected period.
Contact Log
A list of contact log entry details. The total of the
elapsed time recorded in the log entries is
displayed for each contact.
Identifiers
A list of the identifier codes and their
descriptions.
GIS Card File
A list of contact information that you can import
into a geographic information system (GIS) to
analyze the location of your contacts.
Overdue
Contacts
A list of contact log entries with recontact dates
that are dated on or before the day you specify in
the report filter.
REVIEWING YOUR CONTACT INFORMATION
233
234
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CONTACT MANAGEMENT
You can use your MYOB software to control your finances by setting budgets, auditing your records, and by reviewing and analyzing your
financial activities.
Tracking financial information
You can track financial information at three levels:
„
„
„
4-0000 Income
Accounts level—view the profitability and financial details of
your business as a whole.
4-1000 Car Sales
Categories level—view the profitability and financial details of
your individual business divisions, departments, properties,
offices, product sales, and services.
Accounts
[Header]
4-1010 New Car Sales
[Detail]
4-1020 Pre-owned Car Sales
[Detail]
4-2000 Service and Parts Income
Jobs level—view the profitability and financial details of the
individual jobs or tasks carried out for customers and clients.
[Header]
[Header]
4-2010 Service Income
[Detail]
4-2020 Parts Income
[Detail]
4-2030 Accessories Income
[Detail]
When entering a transaction, the appropriate account is
allocated to each individual amount. A standard profit and loss
statement can then be printed to show income and expenses
generated by the business. However, at this level, it is difficult to
see how well particular models are selling. Categories can
manage this.
The accounts list should be set up to provide a basic overview of
the business’s overall performance. For example, a car dealership
could set up their accounts to distinguish new and used car sales
from service and parts income. The following income accounts
could be used:
Setting up accounts You can set up your accounts using the
Easy Setup Assistant or in the Accounts command center. For
more information, see ‘Set up accounts’ on page 26.
235
FINANCIAL CONTROL
16 Financial control
Categories
Categories enable you to track the profitability of departments,
offices, properties, and other business segments.
For example, the Sales department of a car dealership could use
categories to help them track the profitability of the car models
they sell: say, model A, model B, and model C.
When entering a transaction, you need to allocate the
appropriate category to it. You can then prepare a profit and loss
statement for each category.
Categories can be allocated to the following transaction types:
To enable allocation of categories
1
Go to the Setup menu and choose Preferences.
2
Click the System tab.
3
Select the Turn on Category Tracking option. If you want to
make the selection of a category mandatory for all
transactions, choose Required from the adjacent list.
NOTE : Turning off category tracking deletes all categories and
their history If you choose to turn off category tracking, any
categories you have created and their transaction history will be
deleted from your company file. You should make a backup of your
company file before you take this step so that you can access this
information if required.
„
spend money
„
receive money
„
transfer money
To create a category
„
general journal entries
1
„
sales
Go to the Lists menu and choose Categories. The
Categories List window appears.
„
purchases
2
Click New. The Edit Category window appears.
„
build items
3
„
inventory transfers
In the Category ID field, type a code that will be used to
identify the category and press TAB.
„
inventory adjustments
4
In the Category Name field, type the name of the category.
5
In the Description field, type a description of the category or
notes relating to the category.
6
Click OK.
„
paychecks
„
historical sales and purchases.
You cannot allocate categories to some transactions You
cannot allocate a category to: Pay Bills, Receive Payments, Prepare
Bank Deposit, Prepare Electronic Payments, Settle Returns and
Credits/Debits, and Pay/Receive Refunds. When entering these
transactions, the categories assigned to the original transactions will
be used when the new transaction is recorded. For example, the
categories assigned to purchases showing in the Pay Bills window
will also be assigned to the bill payment.
NOTE :
236
CHAPTER 16
FINANCIAL CONTROL
Jobs
Jobs can be set up to track income and expenses related to
specific jobs. This is particularly useful when multiple jobs are
performed for a single customer. When you enter a transaction,
the appropriate job number can be assigned to each individual
amount. This enables you to associate several jobs with the
various amounts in a single transaction.
For example, if a purchase includes parts for three customers, you
could specify each of the three jobs to which that purchase
relates. A profit and loss statement can then be prepared for each
job and actual results can be compared with budgeted values by
producing a Jobs Budget Analysis report.
Similarly, sub-jobs allow you to track individual jobs that form
part of a larger job. For example, if you are a graphic designer
working on a number of print and multimedia deliverables for
your client, you could use sub-jobs to track the individual
deliverables: website design, business cards production and
brochure layout.
„
linking jobs to specific customers
„
assigning jobs to individual line items on transactions
„
tracking reimbursable expenses for your jobs
„
preparing invoices to reimburse job expenses
„
analyzing profit and loss of a job.
To create a header job
1
Go to the Lists menu and choose Jobs. The Jobs List window
appears.
2
Click New. The New Job window appears.
3
Select Header Job and enter a job number, name, and
description.
4
If you want to create this job as a sub-job of another header
job, type or make a selection from the Sub-job Of field.
5
Click OK. The header job appears in the Jobs List window.
To create a detail job
Jobs and sub-jobs You can keep a detailed record of your jobs
and sub-jobs. If you intend to use sub-jobs, you will first need to
create jobs, to which you can later assign sub-jobs.
Job types
„
„
There are two types of jobs, header and detail.
Header jobs total associated detail jobs (including detail
sub-jobs). You cannot assign transactions to header jobs.
Detail jobs are assigned to transactions to track income, costs
and expenses.
Note that sub-jobs can be either a detail or header type job.
Specific job-tracking tasks include:
„
organizing jobs in a hierarchy
„
setting budgets for each job
TRACKING FINANCIAL INFORMATION
1
Go to the Lists menu and choose Jobs. The Jobs List window
appears.
2
Click New. The New Job window appears.
3
Select Detail Job.
4
In the Job Number field, type a code for the job and press
Tab.
5
Enter additional information about the job, such as a job
name, description, and start date.
6
If you are creating a sub-job, select a header job in the
Sub-job Of list. Note, you can only assign detail jobs to
header jobs, not to other detail jobs.
237
7
If you want to link the job to a customer, type or select a
customer in the Linked Customer field. This is useful if you
intend to seek reimbursement for goods and services
purchased on the customer’s behalf.
You can view details of all jobs linked to a customer in the
Jobs tab of the customer’s card.
8
Click OK. The Jobs List window reappears.
9
Review the hierarchy of jobs you have created. If you need to
change the details of a job, select the job and click Edit.
You can enter opening balances only for detail jobs. Header jobs
take their balances from the detail jobs below them.
1
Go to the Setup menu, choose Balances and then Job
Opening Balances. The Job Opening Balances window
appears.
2
In the Job Number field, type or select the job number of the
job for which you want to enter an opening balance and press
TAB.
3
In the Opening Balances column, type the opening balance
for the job.
4
Repeat from step 2 for each job with an opening balance.
5
Click OK when you have finished.
To enter budget amounts for jobs
You can enter budget amounts for any detail job. 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 will be
able to print the Jobs Budget Analysis report to see a
comparison of the actual amounts and the amounts you have
budgeted for the job.
To enter job opening balances
If you started using your MYOB software while a particular job
was in progress, you can create the job and then enter any
account activity generated by the job so far in the Job Opening
Balances window.
238
1
Go to the Lists menu and choose Jobs. The Jobs List window
appears.
2
Select the detail job for which you want to enter budgets.
3
Click Budgets. The Job Budgets by Account window
appears, with the job you selected in the Job Number field.
All your company’s income, cost of sales, expense, other
income, and other expense accounts appear in the scrolling
list.
4
In the Budgets column, type the amounts you’ve budgeted
for specific accounts for this job.
CHAPTER 16
FINANCIAL CONTROL
Tracking reimbursable expenses
You can track the expenses you incur while working on a job and
then bill the customer to get reimbursed for those expenses.
3
To get reimbursed for an expense, you need to do the following:
Task
See
1
Set up a job and choose to track
reimbursable expenses
below
2
Assign the expenses to the job when
recording them
below
3
Add the reimbursable expenses to the
invoice when billing the customer
below
Example You have created job 01 for Edgar Reuss. During the
course of working on job 01, you incur expenses that you want to
to have reimbursed by the customer when you bill him.
When you enter the expenses using the Spend Money window,
you’ll assign the line items to job 01. The line items are then
automatically marked for reimbursement by Edgar Reuss.
Then, when you enter a sale for Edgar Reuss, you can view a list of
the reimbursable expenses and add them to Edgar’s invoice.
Task 1: Set up a job
1
2
Create a detail job (see page 237) or open an existing detail
job record. The New Job or Job Information window will
appear.
If this job is related to a header job, the customer associated
with the header job will appear automatically.
4
Click OK.
Task 2: Assign expenses to the job
When entering expenses, select the detail jobs that the line items
relate to in the Job column of the transaction window.
Reimbursable expenses can be entered in the:
„
Spend Money window
„
Purchases window. Note: Purchases of items that you
inventory (that is, items for which you selected the I
Inventory This Item option) cannot be reimbursed.
„
Pay Employee window. Note: Only line items that are linked
to expense or cost of sales accounts can be reimbursed.
Task 3: Bill the customer
1
Go to the Sales command center and click Enter Sales. The
Sales window appears.
2
Type or select the customer’s name and press TAB.
3
Click Reimburse. The Customer Reimbursable Expenses
window appears.
The To Be Reimbursed tab lists all expenses that have yet to
be billed to this customer.
Select the Track Reimbursables option.
4
TRACKING REIMBURSABLE EXPENSES
Type or select the name of the customer who will be billed for
this job in the Linked Customer field.
Click in the select column for each expense you want to bill.
239
5
If you want to change the amounts that will be billed, click
and edit the amounts in the Reimbursable column.
Markup shortcuts If you want to mark up all selected
expenses by a certain amount or percentage, click Markup and
complete the Markup Information window. For information on
the fields in this window, click the Help icon and select Help for
This Window.
Changing the status of a reimbursable
expense
TIP :
6
7
If a selected expense does not match the invoice layout, (for
example, you want to be reimbursed for a non-item expense
on an item invoice), select the appropriate item, account or
activity that you want to use for these expenses in the
Reimbursement [...] field.
NOTE : Changing a status does not affect the transaction If you
change the status of a reimbursable expense to
Reimbursed/Removed, the original transaction on which you
recorded the expense is not affected. Likewise, if you recorded an
invoice with an expense reimbursement, and then change the
expense’s status to To Be Reimbursed, the invoice is not affected. If
you want to remove the expense from the original expense
transaction or from the invoice, you will need to edit or delete the
transaction.
For example, if you recorded a Spend Money transaction and
you want to be reimbursed for the expense using an item
invoice, you will need to select an appropriate item in the
Reimbursement Item field in order to include the expense
on the invoice. If you don’t have an appropriate item for this
purpose, you will need to create one.
To change the status of a reimbursable expense
1
Go to the Lists menu and choose Jobs. The Jobs List window
appears.
2
Click the zoom arrow for the relevant job. The Edit Job
window appears.
Note that all the expenses selected for this transaction will be
allocated to the specified account.
3
Click Reimburse. The Job Reimbursable Expenses window
appears.
Click Reimburse. The selected expenses are now listed in the
line item area of the Sales window.
4
If you want to change the status of a reimbursable expense to
Reimbursed/Removed:
a In the To Be Reimbursed tab, click in the select column
next to each expense you no longer want to reimburse.
b Click Remove From List. The expenses you selected are
transferred to the Reimbursed/Removed tab.
5
If you want to reset the status of a reimbursed expense to To
Be Reimbursed:
a Click the Reimbursed/Removed tab.
b Click in the select column next to each expense whose
status you want to change.
c Click Remove From List. The expenses you selected are
transferred to the To Be Reimbursed tab.
6
Click OK.
Note that when you click Reimburse, the status of all selected
expenses will be changed to Reimbursed/Removed. This
occurs even if you didn’t record the invoice, or you later
delete the invoice. If you want to change the status of an
expense to To Be Reinbursed, see ‘Changing the status of a
reimbursable expense’ below.
About reimbursed expenses When you click
Reimburse, all selected expenses will be considered as having
been reimbursed, even if you don’t record the invoice, or you
later delete the invoice. If you want to change the status of the
expense to be reimbursable again, see ‘Changing the status of a
reimbursable expense’ below.
NOTE :
8
240
Make any other changes to the invoice, and then click
Record.
CHAPTER 16
FINANCIAL CONTROL
Budgets
When you prepare a budget, you are predicting the financial
state of your business. For example, you could prepare a budget
that predicts how much you intend to spend and earn over the
next fiscal year. Having a budget means that, as the year
progresses, you can track projected data against actual data and
take corrective action if things are not going according to plan.
You can also use budgets to plan for future goals. For example,
you may want to undertake a new business venture in the
coming year. By creating a budget, you can work out the amount
of money you will need for the venture, where this money will
come from, and the impact that the venture will have on other
aspects of your business.
What do I need to budget? In MYOB software, you can enter
budgets for individual detailed accounts. The accounts that
require a budget will vary according to your business. Most
people prepare budgets for Profit and Loss accounts such as
Income, Cost of Sales and Expenses accounts, and Balance Sheet
accounts for specific assets and liabilities. To decide on the
accounts that will require a budget, consider what changes you
anticipate in your business and the financial impacts these
changes will have. For example, you may expect to hire new
employees (which will affect, among others, your Wages &
Salaries accounts) or, you may be considering taking a new loan
(which will affect your Bank Loans account).
What period can I budget for? MYOB software lets you
create a budget for the current fiscal year and the next fiscal year.
Reviewing your budget You can review your budgets
periodically to track your financial progress and see if it is going
to plan. A slight variation from the budget is normal. Large
variations, on the other hand, may need investigation. For
BUDGETS
example, if you have a large increase in accounts receivable, it
may indicate that your customers are taking a longer time than
expected to pay your account.
You can compare your budgeted amount with actual account
balances by viewing the Budget Analysis reports for Balance
Sheet and Profit and Loss accounts. For information on
displaying, customizing and printing reports, see Chapter 13,
’Reports,’ starting on page 195.
Entering budget amounts
You can use the Prepare Budgets window to enter budget
amounts for each month of the current or next fiscal year. If you
want to quickly enter budget amounts for a group of months,
you can use the Budget Shortcuts window.
As the year progresses, you can choose to either adjust budget
figures or leave them unchanged.
Entering positive and negative amounts By default, the
amount you enter will be assumed to be a positive amount. You
can enter negative budget amounts by typing a hyphen before
the amount (for example, -$250). When you enter a negative
amount, you are indicating that the balance of the account is
going to reduce.
Using existing data If you have already prepared a budget in a
spreadsheet or in another software program, you can import that
information into your MYOB software. For more information on
how to import account budgets, see ‘Importing data’ on
page 275.
You can also use the previous fiscal year’s data as a basis for your
budget.
241
To enter the budget for an account
1
2
Go to the Accounts command center and click Accounts
List. The Accounts List window appears.
Click Budgets. The Prepare Budgets window appears.
D
Click Copy Amount to Following Months to copy the selected
amount to the months that follow.
E
Click Copy Previous Year’s Actual Data to insert the previous year’s
account balances for the selected account and month.
The window lists the Profit and Loss accounts by default.
3
From the Fiscal Year list, choose whether you want to enter a
budget for this fiscal year or the next one.
4
From the Account Type list, choose the type of account you
want to enter a budget for—Profit and Loss or Balance
Sheet.
5
For each month, click in the appropriate row and type the
amount. If you want to enter a negative amount, type a
hyphen before the figure (for example, -$250).
As you enter data, the FY Total column will display the total
budget for each account.
A
C
242
B
D
E
A
The Account Name and FY Total columns display the list of accounts
and their current budget totals for the fiscal year.
B
You can enter the budget amount for a specific account and month.
You can use the horizontal scroll bar to scroll through the months.
C
Click Shortcuts to open the Budget Shortcuts window from where
you can quickly enter budget amounts for the selected account. For
more information, see below.
6
Click Close to save the budget data and exit the Prepare
Budgets window.
Budget Shortcuts window
If you want to quickly enter budget figures for a group of months,
you can use the Budget Shortcuts window. You can use this
window to enter quarterly, half-yearly and yearly budgets. You
can also enter a budget that increases or decreases by a specific
amount every month.
To enter a budget using the Budget Shortcuts window
1
Go to the Accounts command center and click Accounts
List. The Accounts List window appears.
2
Click Budgets. The Prepare Budgets window appears.
3
Select the account you want to enter the budget for.
4
Click Shortcuts. The Budget Shortcuts window appears.
5
From the Budget for list, select a time period:
Select a period
CHAPTER 16
FINANCIAL CONTROL
months) will be divided equally among all the months in the
group.
The fields change according to the period you select.
6
Select…
If you want to…
Each Month
Enter the same amount for every month of
the year or a set increase or decrease every
month (starting from a base amount).
Period starting from
selected Month
Enter a total amount for a group of
consecutive months.
Each Quarter
Enter the total amount for each quarter.
Each half of the
Fiscal Year
Enter the total amount for each half of the
fiscal year.
Fiscal Year yyyy
Enter the total amount for the entire fiscal
year, (where yyyy is your fiscal year).
Enter the budget amounts in the appropriate fields. Amounts
that cover more than one month (such as quarterly,
half-yearly and yearly amounts, and amounts for a group of
If you selected the Each Month option, you can also set a
base budget amount for the first month, and the amount or
percentage by which this will vary every month onwards.
7
When you have finished entering the information, click OK.
The Prepare Budgets window appears with the new
amounts.
If the account already has budget figures, a message appears
asking if you want to replace the existing budget. Click OK to
replace the budget, or Cancel if you want to keep the existing
amounts (you will be returned to the Budget Shortcuts
window where you may need to click Cancel again).
If you have not entered any amounts for the budget, a
message appears asking if you want to enter zero amounts.
Click OK if you want to do this, or Cancel if you want to
change the amounts.
Auditing your records
Several features are available to help you ensure the accuracy of
the records in your company file.
changes. For more information on how to use the Company Data
Auditor, see ‘Run the Company Data Auditor’ on page 248.
Company Data Auditor
Audit trail tracking system
The Company Data Auditor allows you to check the accuracy of
the records in your company file. You can use this tool to perform
maintenance tasks and reconcile bank and credit card accounts.
You can track specific transactional, tax, account, payroll, and
system changes made to your company file using an audit trail
tracking system. You can then print an Audit Trail report which
lists all the changes recorded in a specified date range.
The Company Data Auditor also checks your transactions for
exceptions such as invoices that do not reconcile with your
receivables account, future-dated transactions, and audit trail
AUDITING YOUR RECORDS
To track changes, go to the Setup menu, choose Preferences
and then set the Use Audit Trail Tracking preference in the
Security tab.
243
Changes recorded with audit trail tracking
Change type
Description
Transactional
•
•
•
•
•
•
•
•
•
deletion of transaction
change of card selection
change of card ID #
change of date
change of amount on any line
change of account on any line
change of item selection
change of job selection
changes to Receive Items transactions (only if the
Transactions can’t be changed option is selected in
the Security view of the Preferences window).
Tax
•
deselection of tax on any line of a sales or purchase
transaction
change of tax code for a sales or purchase transaction
change of tax amount for a sales or purchase
transaction
adding transactions with a tax code other than the
default code for the selected card or account (invoices
only, not orders or quotes)
adding transactions with a changed taxable amount
change of the linked account selection in any of the
Tax Code Information windows.
•
•
•
•
•
Account
244
•
•
•
•
Change type
Description
Payroll
Changes to the setup of an employee’s card, including:
• pay basis, pay rate, or pay frequency
• the default wages expense account
• ‘Carry Over’ accruals
• pay history
• tax allowance or extra tax withheld
• residence code and work code
• termination details.
Changes to the setup of a payroll category, including:
• Type of Wages selection and pay rate
• Type of Accrual field
• Type of Deduction or Deduction Limit fields
• Type of Expense or Expense Limit fields.
System
•
•
•
•
change of the linked account selection in any of the
Linked Accounts windows
change to the lock periods security preference (this
includes changes of the lock period date and the
selection/deselection of the preference)
change to the Transactions Can't be Changed; They
must be Reversed preference
change to the Use Audit Trail Tracking preference.
change of the current account number
change of the account’s opening balance
addition of a new account
deletion of an account.
CHAPTER 16
FINANCIAL CONTROL
Reviewing financial information
There are several tools that you can use to review your financial
information:
Tool
Description
See
Analyze
Balance Sheet
The Analyze Balance Sheet window
provides details about your asset,
liability and equity accounts in both
graphical and ledger views.
below
Analyze Profit
& Loss
The Analyze Profit & Loss window
provides detailed information about
your Profit & Loss accounts in both
graphical and ledger views.
below
Analyze Jobs
The Analyze Jobs window allows you
to view information about your
progress on a particular job, broken
down by account.
below
Financial
reports
Financial reports help you review your
financial information.
page 246
1
From any command center, click the Analysis down arrow
and select Profit and Loss from the menu. The Analyze
Profit & Loss window appears.
2
Click Filters and choose the time periods and other criteria
you want to view.
3
Click OK. The information you selected appears in the
Analyze Profit & Loss window.
To analyze your jobs
To analyze your balance sheet
1
Go to the Accounts command center and click Analysis. The
Analyze Balance Sheet window appears.
2
Click Filters and choose the time periods and other criteria
you want to view.
3
Click OK. The information you selected appears in the
Analyze Balance Sheet window.
REVIEWING FINANCIAL INFORMATION
To analyze your profit or loss
1
From any command center, click the Analysis down arrow
and select Jobs from the menu. The Analyze Jobs window
appears.
2
In the Job field, select the job you want to analyze and press
TAB.
3
If you use budgets to track the progress of this job, enter a
value in the Percent Complete field. The budget amounts
are adjusted to represent the percentage of the job
completed.
245
To view financial reports
1
Go to the Reports menu at the top of the screen and choose
Index to Reports. The Index to Reports window appears.
2
Click the Accounts tab.
Report
Description
Balance Sheet
Budget Analysis
Lists account balances as of the end of a selected
period, along with the budgeted amounts. If
you’ve determined that changes need to be
made to the budgets for the coming months, you
can adjust your budget.
Profit & Loss
Budget Analysis
Lists account balances for a selected period, along
with the budgeted amounts. If you’ve
determined that changes need to be made to the
budgets for the coming months, you can adjust
your budget.
Statement of
Cash Flow
Shows how your cash position has changed over
a period of time, what profit you have earned,
where you received additional cash, and where
your cash was spent.
There are several account reports that can help you track your
financial information. These reports are listed below.
246
Report
Description
Audit Trail
Reviews changes made to recorded transactions,
tax codes, account details and system settings.
Note that before you can track and report
changes, you need to activate the audit trail
tracking preference. For more information, see
‘Audit trail tracking system’ on page 243.
Profit & Loss
Shows your profit and loss figures.
Balance Sheet
Reviews your financial position as of the end of a
period.
Trial Summary
Balance
Identifies incorrectly entered amounts. When
reviewing this report, check for:
• entries that seem unusually high or low for the
account that has been affected
• debit amounts for accounts that normally
have credit entries and vice versa
• unusually high or low ending balances
• an unusually high or low number of entries for
a specific account.
For information on displaying, customizing and printing reports,
see Chapter 13, ’Reports,’ starting on page 195.
CHAPTER 16
FINANCIAL CONTROL
It is important to ensure that your accounting records are accurate. Reconciling the accounts regularly will help you and your accountant know
that your books are complete, accurate, and balanced.
Month-end procedures You should reconcile your company file information with any source documents and resources available to you. For
example, each month your bank account can be reconciled with the bank statement, vendors’ balances can be checked against statements, and
customers’ balances verified. Typical end-of-month procedures include reviewing your trial balance, reviewing your budgets and cash flow,
paying payroll taxes, and purging information that is no longer needed.
End-of-year procedures are carried out at the end of your fiscal year and include any adjustments you need to make to
your company file so that it agrees with your accountant’s final records. If possible, your inventory should be counted, valued, and, where
necessary, adjusted in your company file. By closing the year in your company file, you are effectively bringing the company file up to date and
removing information not required in the new year.
Year-end Procedures
End of payroll year If you use the payroll feature, there are additional procedures that you need to complete at the end of the year. This involves
printing W-2 forms and 1099 statements, submitting state and federal payroll tax forms, reviewing payroll reports, and closing the payroll year.
Month-end procedures
The following is a list of tasks we suggest you complete at the end
of each month. Depending on the nature of your business, some
of these tasks may not apply to you.
Task
Task
See
1
Run the Company Data Auditor
page 248
2
Reconcile your bank accounts
page 64
3
Review reports
page 251
247
See
4
Send customer statements
page 252
5
Record depreciation
page 253
6
Pay payroll taxes
page 254
7
Lock periods
page 254
END-OF-PERIOD PROCEDURES
17 End-of-period procedures
Task 1: Run the Company Data Auditor
This window shows you the following:
„ the company file name
„ the MYOB software release number
„ the location of the company file
„ the size of the company file
„ the date on which the company file was last backed up
„ the date on which the company file was last verified
„ the end month and year of the current fiscal year
„ the locked period date, if one has been specified
„ the date of the payroll tax tables.
The Company Data Auditor is a series of windows that guide you
through the process of checking and ensuring the accuracy of
the records in your MYOB company file. You can use the auditor
to:
„
display basic information about the company file, such as the
file name, release number, location, size, lock periods, last
backup date, etc.
„
perform maintenance tasks, such as back up your company
file and set lock periods
„
display bank and credit card account details, including the
current balance and the date when they were last reconciled
„
reconcile your bank and credit card accounts
„
check your transactions for exceptions and audit trail
changes.
You can perform the following maintenance tasks from this
window:
To run the Company Data Auditor
1
Go to the Accounts command center and click Company
Data Auditor. The Company File Overview window
appears.
2
248
To…
Do this…
See
Back up your
company file
Click Backup and complete
the backup procedure.
page 263
Check your
company file for
errors
Click Verify and complete
the verification procedure.
page 267
Set the locked
periods for your
company file
Click Lock Periods and select
the date before which data
cannot be entered).
page 254
Load payroll tax
tables
Click Load Tax Tables and
then complete the procedure
for loading tax tables.
When you have completed the required maintenance tasks,
click Next. The Account Reconciliation Review window
appears.
CHAPTER 17
END-OF-PERIOD PROCEDURES
5
This window shows you:
„ your bank and credit card accounts
„ the balance of each account
„ the date on which each account was last reconciled.
3
If you want to reconcile an account, select the account and
click Reconcile Accounts. Continue with step 3 in ‘To
reconcile your bank accounts’ on page 65.
4
Click Next. The Transaction Review window appears.
MONTH-END PROCEDURES
Type the start date and end date of the period you want to
review and click Run Review.
Review task
Description
Reconcile invoices
with the linked
receivables account
The total of all customer balances is
compared to the current balance of the
linked accounts receivable account.
If there is an out-of-balance amount, click
Display to view the Receivables
Reconciliation Exceptions report, and
review, customize, or print the details of
the report.
Reconcile
purchases with the
linked payables
account
The total of all vendor balances is
compared to the current balance of the
linked accounts payable account.
If there is an out-of-balance amount, click
Display to view the Payables
Reconciliation Exceptions report, and
review, customize, or print the details of
the report.
Compare item
values with the
linked inventory
account
The total value of inventory on hand is
compared to the current balance of the
linked inventory account.
If there is an out-of-balance amount, click
Display to view the Inventory Value
Exceptions report, and review, customize,
or print the details of the report.
Scan for
future-dated
transactions
The company file is checked for any
transactions dated after the date of the
current session (that is, the current date).
If there are transactions dated after the
current session, click Display to view the
Future Dated Transactions report, and
review, customize, or print the details of
the report.
249
Review task
Description
Review task
Description
Scan for prepaid
transactions
The company file is checked for any
prepaid transactions. These transactions
include all customer and vendor payments
(excluding deposit payments) that have a
payment date prior to the date of the
invoice or purchase.
If there are payments made prior to the
invoice or purchase date, click Display to
view the Prepayment Transactions
report, and review, customize, or print the
details of the report.
Check for job
exceptions [Invoice
Transactions]
If you have selected the Warn if Jobs Are
Not Assigned to All Transactions option
in the Preferences window (System tab),
the company file is checked for sales and
purchase transactions (within the date
range specified) that have no job number.
If any transactions are detected with no job
number, click Display to view the Job
Exceptions [Invoice Transactions] report,
and review, customize, or print the details
of the report.
Scan for deposits
paid
The company file is checked for any
deposits paid (within the date range
specified) on sales orders or purchase
orders.
If any orders have a payment flagged as a
deposit transaction, click Display to view
the Deposit Transactions report, and
review, customize, or print the details of
the report.
Reconcile payroll
liability payments
Review audit trail
changes
If you have selected the Use Audit Trail
Tracking option in the Preferences
window (Security tab), the company file is
checked for any transactional, tax,
accounts and system changes.
If any changes occurred within the date
range specified, click Display to view the
Audit Trail report ,and review, customize,
or print the details of the report.
If you use integrated payroll, the total of
payroll liabilities transactions that are
unpaid is checked against the balance of
the linked accounts payable account
Payroll Category.
If there is an out-of-balance amount
because a payroll liabilities transaction has
a payroll paid date equal to or before the
current session date, click Display to view
the Payroll Liabilities Reconciliation
Exceptions report, and review, customize,
or print the details of the report.
Check for job
exceptions [Cash
Transactions]
250
6
When you have finished viewing and, if necessary, printing
the Transaction Review reports, click Next. The Tax
Exception Review window appears.
If you have selected the Warn if Jobs Are
Not Assigned to All Transactions option
in the Preferences window (System tab),
the company file is checked for cash
transactions (within the date range
specified) that have no job number.
If any transactions are detected with no job
number, click Display to view the Job
Exceptions [Cash Transactions] report,
and review, customize, or print the details
of the report.
CHAPTER 17
END-OF-PERIOD PROCEDURES
7
Type the start date and end date of the period you want to
review and click Run Review.
Review task
Description
Check for tax
amount variances
[Sales]
The company file is checked for variances
between the tax amount posted and the
tax amount calculated for the tax codes
assigned to sales transactions. If a variance
is found, click Display to view the Tax
Amount Variation report, and review,
customize, or print the details of the
report.
Check for tax
amount variances
[Purchases]
8
The company file is checked for variances
between the tax amount posted and the
tax amount calculated for the tax codes
assigned to purchase transactions. If a
variance is found, click Display to view the
Tax Amount Variation report, and review,
customize, or print the details of the
report.
Task 3: Review reports
There are several reports that we recommend you review at the
end of each month. You can use these reports to identify and
correct any discrepancies in your records, as well as spot any
trends in your business.
Report
Description
Receivables Reconciliation
Lists all your outstanding receivables.
Payables Reconciliation
Lists all your outstanding payables.
Analyze Sales Customer
Lists your company’s sales activity and
trends on a month-by-month basis.
Analyze Purchases Vendor
Lists your company’s monthly purchases.
Items List Summary
Shows what’s on hand and what needs to
be ordered.
Audit Trail
Reviews changes made to recorded
transactions, tax codes, account details,
and system settings.
Note that before you can track and report
changes, you need to activate the audit trail
tracking preference. For more information,
see ‘Audit trail tracking system’ on
page 243.
Profit & Loss Statement
Shows your profit and loss figures.
Balance Sheet
Reviews your financial position as of the
end of a period.
Summary Trial Balance
Identifies incorrectly entered amounts.
When reviewing this report, check for:
• entries that seem unusually high or low
for the account that has been affected
• debit amounts for accounts that
normally have credit entries and vice
versa
• unusually high or low ending balances
• an unusually high or low number of
entries for a specific account.
Click Finish. A message appears asking if you would like to
print a summary report of the audit findings. Click Yes to
print the report or click No to close the Company Data
Auditor window without printing the report.
Task 2: Reconcile your bank accounts
To ensure the accuracy of your business records, you should keep
your record of each bank account balance matched up with your
bank’s records.
If you are reconciling your bank account for the first time since
you started using your MYOB software, see ‘Do an initial bank
reconciliation’ on page 38.
MONTH-END PROCEDURES
251
2
Click the To Be Printed tab.
3
In the Statement Type field, select the type of statement you
want to print.
„ Invoice statements list all invoices aged as of a specified
date.
„ Activity statements list all sales invoices, payments, and
orders with a customer deposit within a specified date
range. Activity statements include a running account
balance.
4
Specify the statement period.
„ If you selected Invoice as the statement type, type an
aging date to display invoices outstanding as of that date.
If you want to include only invoices recorded up to the
statement date, select the Only include invoices up to
Statement Date option.
„ If you selected Activity as the statement type, type the
statement date range in the From and to fields.
5
Type the number of statements you want to print per
customer in the Print field.
6
NOTE :
If you want to customize or filter the statement, or to change
the type of form it will be printed on, click Advanced Filters.
For more information, see ‘Advanced filters’ on page 209.
Task 4: Send customer statements
TIP : Itemize payments details on invoice statements If you
want, you can break down your customer invoice statements to
show payments, customer credits, and discounts that have been
applied to each invoice. To do this, you need to set the Show
Itemized Payment Details for Each Invoice option in the
Advanced Filters window.
Report
Description
Balance Sheet Budget
Analysis
Lists account balances as of the end of a
selected period, along with the budgeted
amounts for them. If you’ve determined
that changes need to be made to the
amounts you’ve budgeted for the coming
months, you can adjust your budget.
Profit & Loss Budget
Analysis
Lists account balances for a selected period,
along with the budgeted amounts for
them. If you’ve determined that changes
need to be made to the amounts you’ve
budgeted for the coming months, you can
adjust your budget.
Statement of Cash Flow
Shows how your cash position has changed
over a period of time, what profit you have
earned, where you received additional
cash, and where your cash was spent.
Cash Flow Worksheet
Enables you to estimate your short-term
cash needs. For more information, see
‘Analyzing your cash flow’ on page 68.
Create a report batch You may find it useful to create a
batch for your month-end reports and print them all in one go. For
more information, see ‘Printing report batches’ on page 197.
Most businesses send statements to customers who have
outstanding balances at the end of a month. You can either print
out and send these statements through the post or send them via
email.
To print a customer statement
1
252
7
Click in the select column ( ) next to the customers you are
printing statements for.
8
Click Print.
Go to the Sales command center and click Print/Email
Statements. The Review Statements Before Delivery
window appears.
CHAPTER 17
END-OF-PERIOD PROCEDURES
To email a customer statement
1
Go to the Sales command center and click Print/Email
Statements. The Review Statements Before Delivery
window appears.
2
Click the To Be Emailed tab.
3
In the Statement Type field, select the type of statement you
want to email.
„ Invoice statements list all invoices aged as of a specified
date.
„ Activity statements list all sales invoices, payments, and
orders with a customer deposit for a specified date range.
Activity statements include a running account balance.
4
Specify the statement period.
„ If you selected Invoice as the statement type, type an
aging date to display invoices outstanding as of that date.
If you want to include only invoices recorded up to the
statement date, select the Only include invoices up to
Statement Date option.
„ If you selected Activity as the statement type, type the
statement date range in the From and to fields.
5
Click in the select column ( ) next to the customers to
whom you want to email statements.
6
If you want to change a customer’s email address, select the
customers name and then select another address from the
Email Address list ( ). Alternatively, type a different address
in the Email Address field.
7
Type the subject title and message of the email or accept the
default subject and message. If you want to change the
default message, click Email Defaults and make the changes
as appropriate.
MONTH-END PROCEDURES
8
Click Advanced Filters and customize the information to be
shown on the statement. You might use advanced filters, for
example, if you want to use a different message or subject for
different customers, or to restrict the statement period.
TIP : Itemize payments details on invoice statements If you
want, you can break down your customer invoice statements to
show payments, customer credits, and discounts that have been
applied to each invoice. To do this, you need to set the Show
Itemized Payment Details for Each Invoice option in the
Advanced Filters window.
For more information, see ‘Advanced filters’ on page 209.
9
Click Send Email.
Task 5: Record depreciation
Your company’s vehicles and equipment lose value each year.
Part of the cost of vehicles and equipment can be allocated as an
expense to your company each year that you benefit from their
use. The allocation of the cost of a piece of equipment over its
useful life is called depreciation.
There are several methods of recording depreciation. Consult
your accountant to see which method is best for you.
NOTE :
If you depreciate your assets at the end of the fiscal year,
make this step a part of your end-of-year routine. Consult your tax
adviser or accountant for information on when to depreciate your
assets.
Your MYOB software doesn’t calculate depreciation
automatically, but you can record your depreciation figures with
a journal entry.
253
To record depreciation
Before you can record depreciation for an asset, you need to
create an asset account and an expense account for each type of
asset you depreciate. You only need to create these accounts
once.
1
Create a new asset account for each type of asset you
depreciate. Add the words ‘Accum Dep’ (for Accumulated
Depreciation) at the end of each new account name. Give the
new account a number that allows it to come directly after its
corresponding asset account in the accounts list. For more
information on creating a new account, see ‘Set up accounts’
on page 26.
In the following example, we have a header account, Office
Equipment numbered 1-3100, and a detail account Office
Equipment Original Cost numbered 1-3110. We have created a
new asset account called Office Equipment Accum Dep
numbered 1-3120. Notice that the header account shows the
current book value of the office equipment.
2
Create a new expense account. You may want to call it
Depreciation.
3
Once you’ve determined your depreciation amounts, make
journal entries to credit the new accumulated depreciation
asset accounts (for example, Office Equipment Accum Dep) and
debit the new depreciation expense account. The
accumulated depreciation asset accounts will always have a
negative balance to show a reduction in the value of the
depreciable assets.
Task 6: Pay payroll taxes
MYOB Payroll Tax Forms You can use the MYOB Payroll Tax
Forms service to generate and electronically file your state and
federal payroll forms using information extracted from your
company file. These include withholding tax forms,
unemployment wage forms, and new employee forms.
Before you can file your payroll forms electronically, you need to
register for the MYOB Payroll Tax Forms service. For more
information about this service, including how to register, see ‘Set
up MYOB Payroll Tax Forms’ on page 47.
If you haven’t registered, you can view a demonstration of the
forms available. However, they cannot be electronically filed.
If you decide not to register for MYOB Payroll Tax Forms, you can
use the Pay Liabilities feature to select and clear withheld
amounts to the appropriate government agencies. For more
information, see ‘Payroll liabilities’ on page 132.
Task 7: Lock periods
After you have completed your month-end tasks, you should lock
that period using the Lock Periods feature. This will prevent you
from inadvertently making an entry in a period in which you
don’t want new entries.
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
Click the Security tab.
3
Select the Lock Periods: Disallow Entries Prior To option,
and select the relevant date. This selection places a temporary
lock on the period before that date. If you need to make an
entry in a locked period at a later time—for example, you
locked May, and now want to make an entry in April—you
can unlock that period in the Preferences window.
Consult your accountant or the appropriate government
agencies if you’re unsure about how or when to pay payroll
taxes.
254
CHAPTER 17
END-OF-PERIOD PROCEDURES
Starting a new fiscal year
This section describes the tasks you need to perform at the end of
your fiscal year to prepare your company file for the coming year.
Task 2: Perform an inventory count
You don’t need to close your fiscal year at any particular time. You
can continue to use your company file after the last month of
your current fiscal year.
If you track stock quantities and values, you should perform an
inventory count when all transactions affecting the inventory for
the fiscal year have been entered. For information on how to
perform an inventory count, see ‘Counting inventory’ on
page 158.
Complete the tasks listed below to close your fiscal year and start
a new one.
Task
See
1
Complete month-end tasks
below
2
Perform an inventory count
below
3
Provide information to your accountant
below
4
Enter end-of-year adjustments
below
5
Back up your company file
page 256
6
Start a new fiscal year
page 258
7
Optimize and verify your company file
page 259
Task 3: Provide information to your
accountant
Once you have completed your year-end tasks, you can send
your accounting data to your accountant.
If your accountant requests an electronic copy of your
accounting records, you can create a comma-separated text file
that can be read by CaseWare, a client write-up software package
that is popular among accountants.
Task 1: Complete month-end tasks
The file that is created through the export process will contain
your company information, account information, and journal
entries. See ‘Exporting to and importing from CaseWare’ on
page 274.
Make sure you complete each of the month-end tasks. See
‘Month-end procedures’ on page 247.
Task 4: Enter end-of-year adjustments
Your accountant is likely to provide you with a number of
adjustments, such as journal transactions. If they have been
provided on disk, you can import these transactions (see
‘Importing data’ on page 275). If the adjustments have been
provided on paper, you can manually enter them in the Record
Journal Entry window.
STARTING A NEW FISCAL YEAR
255
To record adjustments manually
1
Go to the Accounts command center and click Record
Journal Entry. The Record Journal Entry window appears.
The general journal number and transaction date appear by
default. You can change these if necessary.
If your company file is set to 13 accounting periods in
the fiscal year, assign your adjustments to the 13th period by
entering an asterisk (*) before the date, for example,
*9/30/2008.
NOTE :
2
[Optional] In the Memo field, enter a comment to describe
the transaction, for example, Depreciation–Motor Vehicles.
3
Each row of information entered in the scrolling list is a line
item. The line item details are identified in the journal
adjustments provided by your accountant.
For each line item:
a Type the account number (or name), or select it from the
account list.
b In the Debit and Credit fields, enter the debit or credit
amount for the line item.
c [Optional] In the Job field, enter the job number for the
line item.
d [Optional] In the Memo field, enter a description of the
line item.
Journal entry must be balanced The journal entry
cannot be recorded until the Out of Balance field is zero.
Task 5: Back up your company file
Make a backup of your company file after you have finished
entering adjustments and store it in a safe location. See ‘Backing
up and restoring company files’ on page 263.
Make sure you verify the company file as part of the backup
process. See ‘Checking your company file for errors’ on
page 267.
Task 6: Start a new fiscal year
Before starting a new fiscal year, make sure you have:
„
completed steps 1–5 above
„
entered all transactions and adjustments as instructed by your
accountant
„
checked with your accountant to ensure no further entries are
required in your company file for the current 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.
„
The balance of your current-year earnings account is
transferred to your retained earnings account.
„
The balances of your income, cost of sales, expense, other
income and other expense accounts are returned to zero.
„
Closed sales, closed purchases, paycheck information, and
journal entries assigned to closed sales and closed purchases,
are kept or purged according to your selections in the Start a
New Fiscal Year Assistant.
NOTE :
4
256
Click Record to record the journal entry.
CHAPTER 17
END-OF-PERIOD PROCEDURES
To start a new fiscal year
Single-user access Please note that this task requires
single-user access. For more information, see ‘Single-user file locking
for special tasks’ on page 270.
Task 7: Optimize and verify your
company file
NOTE :
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 appears.
2
Follow the on-screen instructions.
Once the Start a New Year procedure is complete, we
recommend that you optimize and verify your company file. For
more information, see ‘Optimizing your company file’ on
page 268.
If you need help in these windows, click Help and choose
Help for This Window.
Starting a new payroll year
You must close the payroll year in the last month of your payroll
year or soon after. Otherwise, you will not be able to enter
paychecks for the next payroll year.
Task 1: Process the last paychecks for the
year
Do the following tasks to close your current payroll year and start
a new one.
You must make sure that all paychecks for the current payroll year
have been entered. For more information, see ‘Processing your
payroll’ on page 123.
Task
See
1
Process the last paychecks for the year
below
2
Print year-end payroll forms
below
3
Print vendor 1099 statements
page 258
4
Print payroll reports
page 258
5
Back up your company file
page 258
6
Start a new payroll year
page 258
7
Check that you have the latest tax tables
page 259
8
Optimize and verify your company file
page 259
STARTING A NEW PAYROLL YEAR
Task 2: Print year-end payroll forms
You can print W-2 forms for your employees to use at tax time.
Information for W-2 forms is tracked using the current payroll
year for your company file.
To locate the W-2 forms, click Prepare Payroll Tax Forms in the
Payroll command center.
You can enter or change amounts that print on W-2 forms by
manually adjusting the amounts that were calculated in your
company file. The changes won’t affect transactions or reports in
257
your company file; the changes will only print on the W-2 forms.
You can also choose to revert to the amounts calculated in your
company file.
MYOB Payroll Tax Forms You can use the MYOB Payroll Tax
Forms service to generate and file your year-end state and federal
payroll forms using information extracted from your company
file. These include withholding tax forms, unemployment wage
reports, and new employee forms.
You need to register for MYOB Payroll Tax Forms to
electronically file W-2 forms You can generate W-2 forms using
MYOB software. However, if you want to electronically file these
forms, you need to register for the MYOB Payroll Tax Forms service.
For more information, see ‘Set up MYOB Payroll Tax Forms’ on
page 47.
NOTE :
Task 3: Print vendor 1099 statements
You can print 1099 statements for your vendors to use at tax
time. Information for 1099 statements is tracked using the
current payroll year for your company file. You can also manually
adjust statements when you prepare them.
To view, edit, and print 1099 statements, click Print 1099s and
1096 in the Purchases command center.
For more information about preparing 1099 and 1096 forms, see
MYOB online help.
Task 5: Back up your company file
Before you start a new payroll year, make a backup of your
company file. Once the previous year is closed, detailed payroll
information is no longer available and W-2 forms, and 1099
statements 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 and restoring company
files’ on page 263.
Task 6: Start a new payroll year
NOTE : Single-user access Please note that this task requires
single-user access. For more information, see ‘Single-user file locking
for special tasks’ on page 270.
Starting a new payroll year will:
„
clear the payroll history from employee cards
„
prevent you from printing payroll reports for the previous
year
„
carry over accrual balances that have the Carry Remaining
Leave Over to Next Year preference set in the Accrual
Information window of employee cards
„
clear any accrual balances that do not have the Carry
Remaining Leave Over to Next Year preference set in the
Accrual Information window of employee cards
„
prevent you from editing or deleting paychecks for the
previous year.
Task 4: Print payroll reports
Print the following payroll reports at a minimum:
258
„
Payroll Register Summary—shows the pay history of your
employees.
„
Payroll Activity Summary—shows the paychecks that have
been recorded but does not include any manual adjustments
made in the Payroll Details tab of the Card Information
window (in the employee’s card).
CHAPTER 17
END-OF-PERIOD PROCEDURES
To start a new payroll year
1
Go to the File menu, choose Start a New Year and then Start
a New Payroll Year.
2
If you want to create a backup file before purging the
information, click Backup and follow the instructions in the
windows that appear.
3
Click Continue. Follow the on-screen instructions to
complete the process.
Task 7: Check that you have the latest tax
tables
™ To ensure you have the correct tax tables for the new payroll
year, go to the Help menu and choose Check for Product
Updates (requires Internet access).
Task 8: Optimize and verify your
company file
Once the Start a New Payroll Year procedure is complete, we
recommend that you optimize and verify your company file. See
‘Optimizing your company file’ on page 268.
STARTING A NEW PAYROLL YEAR
259
260
CHAPTER 17
END-OF-PERIOD PROCEDURES
company files
This chapter explains how you can perform maintenance tasks on your company file (including backing up, restoring, and optimizing) and how
you can control access to your company file using user accounts.
Managing user accounts
Administrator account The Administrator account is a default
user account always present in all company files and cannot be
deleted. This special user account is the only one with access to
all command centers, functions, and windows.
If several people enter transactions into the same company file,
you can control which command centers, windows, and
transactions they can access with user accounts. The ability to
limit users’ access can help to minimize fraud. For example, you
can prevent a person who places orders with vendors from also
being able to pay vendors, minimizing the likelihood of paying
false bills.
The person logged on as Administrator is able to create, edit, and
delete ordinary user accounts. For that reason, as soon as you
create a company file, you should supply a password for the
Administrator account; otherwise any user can log in and enter,
edit, and delete transactions without leaving a trace. For more
information, see ‘Set a password for the Administrator user ID’ on
page 32.
Restrict access to employee information User IDs can be set
up to restrict access to employee banking and contact
information stored in the card file and on reports. You can set
broad restrictions, such as access to the employee card file, or
you can set specific restrictions, such as viewing employee
banking details.
Simultaneous users Your MYOB software allows more than
one user to access a company file. The number of users who can
access simultaneously depends on the number of users you are
licensed for. If you require more users to have access to a
company file, you can buy additional licenses whenever the need
arises. For more information, see ‘To activate your company file
for additional workstation licenses’ on page 262.
User accounts A user can only open a company file by
completing the Sign-on window. The user must enter a user ID
and password to gain access to the user account. Then,
whenever a user enters a transaction, it is labeled it with the user
ID. This allows you to keep track of who entered particular
transactions, useful for following up disputes with vendors or
customers, and for identifying fraudulent transactions.
261
MANAGING USER ACCOUNTS AND COMPANY FILES
18 Managing user accounts and
To create a user account
1
Start your MYOB software and click Open your company file
in the welcome window that appears. The Open window
appears.
2
Navigate to and select the company file to be opened, and
click Open. The Sign-on window appears.
3
Type Administrator in the User ID field, type the
administrator’s password in the Password field, and click OK.
10
Click the new user account in the User ID column, then click
in the Not Allowed column next to those command centers
or functions to be denied to the user.
11
Click OK.
Note that if you have not set a password for the Administrator
account, leave this field blank.
4
Go to the Setup menu and choose Preferences. The
Preferences window appears.
5
Click the Security tab and then click Password. The User
Access window appears.
6
Click New. The New User Details window appears.
7
Type the user name in the User ID field, then type the
password in the Password and Confirm Password fields.
To activate your company file for additional
workstation licenses
When the volume of transactions grows too large for a single
person to handle, you can purchase extra workstation licenses to
allow additional users to access the company file simultaneously.
NOTE :
262
8
If you want to copy the restrictions you’ve set up for another
user, type or select an existing user account in the Copy
Restrictions field.
9
Click OK. The new user account appears in the User ID
column of the User Access window.
Before you begin, have your credit card on hand.
1
Start your MYOB software and open the company file
requiring extra workstation licenses.
2
Go to the Setup menu and choose Company Information.
3
In the Company Information window, click License.
4
Call Customer Service at the number given in the Enable
License window and follow the Customer Service
representative’s instructions.
Write down the confirmation code Ask the Customer
Service representative for the company file’s confirmation
code—you may need it to activate the extra licenses you
purchased.
NOTE :
CHAPTER 18
MANAGING USER ACCOUNTS AND COMPANY FILES
5
Confirm the extra workstation licenses.
„ If you want to confirm via the Internet, click Enable Online
and click OK.
„
Otherwise, type the confirmation code given to you by the
Customer Service representative in the Enter
Confirmation Code field and click OK.
Backing up and restoring company files
If you accidentally copy the damaged data over your previous
backup, the backup is no longer valid.
Backing up is the copying of a company file to some form of
storage medium, such as a CD, a different hard disk, or other
media. You can also use the backup function in your MYOB
software to create a compressed archive file that takes up less
space.
The Restore command closes the company file you’re currently
using, decompresses a backup file so you can use it, and then
opens the backup file.
Single-user access required Making and restoring a
backup file requires single-user access. For more information, see
‘Single-user file locking for special tasks’ on page 270.
Without a valid backup, you will need to re-create your
company file. You can reduce the risk by making separate
backups to protect your company data—for example, at the
end of each business day.
„
CAUTION :
To make a backup of your company file
1
Precautions when backing up Avoid common mistakes that
can cause you to lose backups of company files:
„
Store backups offsite Store all your backups in a safe place,
preferably away from your office. Except for daily rotational
backups, do not re-use media.
Go to the File menu and choose Backup. A backup window
appears.
Take care when backing up multi-user company files If
multiple users access a company file on a host, you need to
back up the company file on the host computer—including
custom forms, letters, and spreadsheet templates you have
created. You can then copy the updated templates to each
workstation and ensure the latest versions are used.
When you do a full backup, ensure that the most recent
versions of custom forms and templates are backed up.
„
Don’t store backups on the same hard disk as the software
A single disaster can wipe out all your records.
„
Make separate backups A disk failure can corrupt your
data in such a way that you may not notice it during a session.
BACKING UP AND RESTORING COMPANY FILES
263
CAUTION : If the backup process does not work When you
installed your MYOB software, special software needed for the
backup process was also installed. If a message appears when
you try to use the Backup command, this software may have
been removed from the location where it needs to exist. You
may need to re-install your MYOB software to use this feature.
Alternatively, you can contact MYOB Support for help.
2
Choose the type of backup you want:
„ To back up your company file and templates, click Backup
all data.
„ To back up your company file only, click Backup Company
File only.
3
Choose whether to check your company file for errors before
making your backup by selecting one of the options.
4
Click Continue.
5
If you selected the Do not check Company File for errors
option, the Save window appears. Go to step 7 below.
6
A default filename is assigned:
If you selected the Check Company File for errors option,
the verification process may take several minutes.
MYOmmdd.zip
•
Specify where you want to store the backup file.
CHAPTER 18
mmdd is the month and day from your
computer’s clock
.zip is the file extension and cannot be
changed.
8
If you want, you can change the name of the backup file.
Note that you should name your backups with enough
information to tell you when they were from and where you
were up to in data entry—for example, ‘Monday 5/5/08’ or
‘Backup as of 5/5/08’.
9
Click Save. The backup process begins.
10
If you are storing the backup file on a removable storage
device, label them clearly, so you know exactly when the
backup was done.
The Save window appears.
264
further details
•
When the verification process finishes, click OK in the window
that appears. Note that this window appears whether or not
errors have been found in the company file.
7
Default filename
MANAGING USER ACCOUNTS AND COMPANY FILES
To restore a backup
1
2
Go to the File menu and choose Restore. The Restore
window appears.
If the Prompt for Data Backup When Closing option is
selected in the Preferences window, a window appears
asking if you want to back up your company file. If you want
to back up your company file now, click Yes and follow the
prompts, otherwise click No.
In the Restore window, select the backup file you want to
restore and click Open.
If the backup file is on a removable disk, insert the disk
into the disk drive.
NOTE :
3
Specify where you want to save the restored file and click
Choose. By default, the name of the restored file is appended
with ‘ and is then restored to the specified location.
4
A message appears showing that the company file will be
restored to the selected folder.
5
Click OK to complete the restore. The Sign-on window
appears so you can proceed working with the restored file.
NOTE : Restoring from a CD If you are restoring a backup file from
a CD, the file will be read-only. To record new transactions to the
file, you need to change the file’s attributes. Right-click the file,
choose Properties and deselect the Read-only option.
Confirming activated company files
Once a company file is activated, once or twice a year you must
confirm its activation for the life of the file. The confirmation
verifies to MYOB that you are running a legal installation of
MYOB software. When confirmation is due and you attempt to
open an activated company file, the Company File
Confirmation window appears.
CONFIRMING ACTIVATED COMPANY FILES
265
You have a period of grace in which to confirm the company file,
indicated under the Confirm Your Company File heading.
NOTE : Frequent requests to confirm If, after confirming a
company file, your MYOB software asks you within a short period of
time to confirm it again, see ‘Troubleshooting activated company
files’ on page 267. Under normal circumstances, confirmation
occurs once or twice a year
4
To confirm a company file by telephone
If you don’t want to confirm immediately, select the I want to
confirm my company file later option and click Continue to
open the file. After the period of grace expires, the company file
can be opened only in read-only mode, in which you can still
view transactions, print reports, or export data, but will not be
able to enter any data.
1
In the Company File Confirmation window, click I want to
confirm my company file by phone.
2
Click Continue. The Company File Confirmation – By
Phone window appears.
3
Call MYOB at the telephone number displayed under the
Company File Code field.
4
Follow the instructions to receive your confirmation code.
5
Type the confirmation code in the Confirmation Code field
and click Continue.
Confirming a read-only file If you have chosen to open a
company file overdue for confirmation in read-only mode, but then
change your mind, go to the Help menu and choose Confirm
Company File. The Company File Confirmation window appears.
NOTE :
Confirmation code used only once After you confirm
your company file, the confirmation code cannot be used to
confirm this or any other company file again. You must get a
new confirmation code each time your MYOB software requests
confirmation.
NOTE :
These procedures show you how to confirm an activated
company file or set up automatic confirmation:
„
‘To confirm a company file online’ below
„
‘To confirm a company file by telephone’ below
„
‘To set up automatic company file confirmation’ below.
To confirm a company file online
1
Ensure you are connected to the Internet.
2
In the Company File Confirmation window, click I want to
confirm my company file online.
3
Click Continue. Your serial number and company file code
are sent to the MYOB confirmation server, which returns a
confirmation code and extends the file activation.
6
If you have an Internet connection and you prefer your MYOB
software to perform subsequent confirmations automatically,
select the I want to use Automatic Confirmation option.
7
Click OK and respond to subsequent windows as you like
until a command center appears. The company file has been
confirmed and you can continue to enter transactions.
To set up automatic company file confirmation
You can set up your MYOB software to confirm company files
over the Internet automatically.
NOTE : Internet connection required When your MYOB software
attempts to confirm the activation of the company file automatically
and you are not currently connected to the Internet, a window
appears requesting you to connect.
The Company File Confirmation – Confirmed window
appears.
266
Click OK and respond to subsequent windows as you wish
until a command center appears. The company file has been
confirmed and you can continue to enter transactions.
CHAPTER 18
MANAGING USER ACCOUNTS AND COMPANY FILES
1
Open your company file.
2
Go to the Setup menu and choose Preferences.
3
In the Preferences window, click the Security tab.
4
Select the I Prefer to Use Automated Online Company File
Confirmation option and click OK.
From now on, your MYOB software confirms the company
file automatically and displays this notification of successful
confirmation each time.
Troubleshooting activated company files
The activation and confirmation of company files are sensitive to
changes of the date in your computer’s system clock. In some
circumstances, changes, or discrepancies in the system date
initiate an immediate confirmation process.
Note that if you confirm a company file several times within a
short period of time, you may be prevented from using the file
until you contact MYOB Customer Service.
Workstations out of synchronization If multiple users on
different workstations are accessing a company file
simultaneously and the dates in the system clocks of one or more
workstations differ, you will need to synchronize clocks and
confirm the company file the next time you open it.
NOTE : Confirmation help For more information about the
confirmation process, and additional troubleshooting tips, click the
Frequently Asked Questions link in the Company File
Confirmation window.
Servicing your company file
Checking your company file for errors
2
In addition to having your company file automatically checked
for errors before creating a backup, you can check your company
file any time you choose.
If no errors were found, click OK to end the verification
process.
By checking your company file for errors, you can catch minor
problems in the file before they cause serious problems.
If your company file is corrupt, you can:
Attempt to fix the company file by optimizing it—see
‘Optimizing your company file’ on page 268—and repeat
from step 1 above to check if the errors have been fixed.
„ Restore the company file from your most recent
backup—see ‘To restore a backup’ on page 265.
„
Single-user access required This task requires
single-user access. For more information, see ‘Single-user file locking
for special tasks’ on page 270.
CAUTION :
To check your company file for errors
1
Click OK to confirm that you want to verify your company
file. Your company file is scanned for errors. When the file
verification process is complete, a message appears
describing the results of the process.
3
Click OK.
Go to the File menu and choose Verify Company File. A
confirmation window appears.
SERVICING YOUR COMPANY FILE
267
Optimizing your company file
Over time, your company file will grow considerably in size. As
you enter transactions, then remove or purge them, the file will
have unused areas that once contained these transactions. These
unused areas can affect the efficiency with which operations are
performed in the company file. We recommend that you use the
Optimization Assistant to remove the unused areas in the
company file and keep your accounting software running
efficiently.
To optimize a company file
CAUTION : Optimizing multi-user company files If multiple users
are accessing a shared company file on a host computer, optimize
the company file on the host. Optimizing a company file requires
single-user access.
268
CAUTION :
You should be particularly careful about purging
transactions that haven’t been included in your end-of-period
reporting. After transactions are purged, they will no longer appear
in any report.
The procedure for purging information applies if you are
purging:
„
journal entries (including prior year paychecks)
„
sales
„
purchases
„
business contacts
„
contact logs
„
activity slips
„
sales history figures.
1
Open the company file to be optimized.
Purging activity slips and timesheets
2
Go to the File menu, choose Optimize Company File and
click OK.
When purging activity slips and timesheets, note the following:
3
If an optimization recovery file exists, we recommend that
you click Yes to retain a copy of it. Then click OK.
4
Click OK when the optimization process is complete.
„
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.
„
Purging information that is no longer
needed
You can purge a timesheet only if an employee payment for
the timesheet’s hours has been made using the Process
Payroll assistant.
„
Purging is the process of removing data from your company file.
After you have used your MYOB software for a long time, you will
notice that the size of your company file has grown considerably.
If you purge activity slips, any slips with hours on timesheets
are not purged. You must purge timesheets to purge those
activity slips.
„
If you purge a timesheet, any activity slips on the timesheet
are also purged (only if an employee payment for the
timesheet’s hours has been made using the Process Payroll
assistant).
CHAPTER 18
MANAGING USER ACCOUNTS AND COMPANY FILES
To purge information
Purging multi-user company files Purging a company
file requires single-user access. See ‘Single-user file locking for special
tasks’ on page 270.
CAUTION :
1
Open the company file to be purged.
2
Create a backup file. See ‘Backing up and restoring company
files’ on page 263.
3
Go to the command center to be purged. The information
you can purge is dependent upon the command center you
are in. For example, if you are in the Sales command center,
you can only purge closed invoices.
4
Go to the File menu and choose Purge [...].
5
Click Continue and follow the instructions in the Purge [...]
wizard.
Troubleshooting file-locking problems
When a company file is open, a temporary file called a lock file is
created in the folder where the company file is stored. This file,
called Lock000*.flk, keeps track of who is using the company
file. When you log out of the company file, the lock file is deleted
automatically.
NOTE : Lock file name The file is named Lock????.flk, where????
stands for a number from 0001 to 0010. If there is more than one
company file in the same folder, the number allows your MYOB
software to create a different named lock file for each company file.
Sometimes, however, the lock file is not deleted. This can happen
if your computer crashes or an error causes your company file to
close unexpectedly. Lock files can accumulate in the company file
folder, resulting in error messages appearing when you try to
access your company file again.
To resolve these error messages, you must exit your MYOB
software, open the folder that contains the company file and
delete any lock files that it contains. You should then be able to
open your company file without an error.
Special considerations for networked company files
When multiple users access a company file over a network, you
need to be aware of factors that affect the way you work. These
factors are not present when only a single user accesses the
company file.
SPECIAL CONSIDERATIONS FOR NETWORKED COMPANY FILES
Preferences in a network environment
Some of the choices in the Preferences window of your MYOB
software can affect how everyone works with your company file.
These preferences are clearly marked System-wide.
269
Single-user file locking prevents all but the first logged-in user
from accessing a shared company file—other users cannot even
log in. To enable single-user access after starting your MYOB
software, click Single-user access in the Sign-on window.
Multi-user file locking for daily transactions
Multi-user file locking ensures that changes cannot be made in
some windows while related data is being changed by another
user.
The tasks that require single-user file locking include:
For example, a situation could arise where a user is recording
information in a sales transaction window while another user is
changing details of the customer card being used in the sales
transaction. In such a situation, multi-user file locking disallows
changes being saved in one of the windows until the changes
have been saved in the other window.
„
backing up a company file
„
restoring a backup file
„
company file verification
„
purging data
If you would like to know when another user has changed data in
a window, go to the Setup menu, choose Preferences, click the
System tab, and select Automatically Refresh Lists When
Information Changes. Now, if another user changes
information you are viewing, your MYOB software closes your
window. When you reopen it, the data is updated.
„
exporting data
„
importing data
„
starting a new fiscal year
„
creating, changing, or deleting report batches
„
optimizing a company file
View a list of users If you have been prevented from
accessing the company file, you can determine the user who is
locking you out. To do this, go to a computer that has access to the
company file and view the list of active users (go to the File menu
and choose Active Workstations).
„
setting up, changing, or removing user accounts
„
starting a new payroll year
„
loading payroll tax tables
„
synchronizing cards and Outlook contacts
„
creating, changing, or removing payroll categories.
TIP :
Single-user file locking for special tasks
Only one user should have access to a company file during file
maintenance procedures, such as backing up, checking, and
optimizing the company file. For example, optimizing a
company file rearranges its internal structure, so ensure that the
file is not being accessed while this process is taking place. Other
single-user tasks are part of standard bookkeeping practice. For
example, when you print a report, you do not want anybody to
change data that will appear in the report while it is being
printed.
View a list of users To check whether any other users are
currently using the company file before you set a single-user lock, go
to the File menu and choose Active Workstations.
TIP :
270
CHAPTER 18
Problems with lock files
MYOB software displays a File is busy; access denied message
when another user is accessing a shared company file and you
both try to simultaneously save a transaction or write data. When
you see this message, wait a few moments for the other
transaction to finish and for your MYOB software to delete the
lock file, and then click Retry.
If the power fails, or you switch off your computer while your
MYOB software is running, or your system crashes, MYOB
software is unable to delete the lock file. You will need to delete
the lock files manually (see ‘To delete lock files’ on page 271).
The following situations can cause lock files to accumulate in the
MANAGING USER ACCOUNTS AND COMPANY FILES
folder where the company file is kept, resulting in various error
messages when you try to open a company file:
„
„
Someone else is currently signed on with the same User
ID. Someone else is using the company file with your user ID
or a lock file from an irregularly ended session is present.
No more than 10 company files in any folder may be
opened at one time. There are more than 10 lock files—the
maximum permitted—in the folder where a company file is
kept. This can occur legitimately if there are more than 10
company files in the folder, 10 of which are open
simultaneously, so that an 11th open file would create an
illegal 11th lock file.
It is possible 10 lock files have accumulated in the folder
owing to crashes and other problems.
„
You have reached the maximum number of simultaneous
users allowed under your MYOB software Workstation
License. If you know this is incorrect, the problem may be a
lock file.
Any of the above messages may mean that there are old lock files
cluttering the folder where you store the company file. You need
to delete the lock files before your MYOB software will run
correctly.
To delete lock files
1
Ensure all users are logged out of your MYOB software.
2
Close your MYOB software.
3
Locate the folder where you keep the shared company file.
4
Delete all lock files. They are named Lock????.flk, where
???? stands for a number from 0001 to 0010.
5
Restart your MYOB software and reopen the shared company
file.
SPECIAL CONSIDERATIONS FOR NETWORKED COMPANY FILES
Preventing data entry while generating
reports
If there are multiple users accessing a company file
simultaneously and you want to print or view a report, we
recommend that you prevent data changes during report
generation so that other users cannot make entries in the
company file that will affect the report.
Before you print or display a report, open the Report
Customization window for the report. You can select the
Prevent Data Changes During Report Generation option
(located on the Finishing tab of the Report Customization
window).This turns on multi-user file locking and prevents other
users from editing the company file while you are generating
reports.
Note that some reports take time to be generated. Consider
printing these lengthy reports at times when no one else is using
the company file.
Storing custom reports on a network
When you create custom reports, information about them is
stored on the workstation where they were created and not on
the network. Other users of the same company file won’t be able
to use your custom reports unless you copy the reports to the
appropriate locations on other workstations. (You may want to
ask your system administrator to perform this task.)
Your custom reports are stored in the Custom folder, which is
within the folder where your MYOB software is installed on your
workstation.
271
Displaying up-to-date information
Improving performance
Each time you open a list window (such as the Find Transactions
window) or display a report in the Report Display window, the
information that is displayed matches the contents of the
company file as of the moment you opened the list or displayed
the report.
The following list provides a number of ways in which you can
improve the efficiency of your MYOB software:
However, if you keep the list or report displayed on your
computer screen for some time, the data that other users entered
during that time will not be included in your list or report. You
can update the information automatically or manually:
„
Automatic update. Go to the Setup menu, choose
Preferences and then click the System tab. Select the
Automatically Refresh Lists when Information Changes
option.
Automatic refreshing slows response Consider
whether you need to have on-screen information refreshed
automatically. If you choose this option, your MYOB software
will operate more slowly for everyone who is accessing the
company file. If speedier data entry is a priority, we recommend
that you choose to manually refresh information regularly.
NOTE :
„
272
„
Use single-user access whenever possible.
„
Optimize your company file frequently—see ‘Optimizing
your company file’ on page 268.
„
Do not select the Automatically Refresh Lists when
Information Changes option in the Preferences window.
„
Do not check for duplicate transaction numbers.
„
Use Easy-Fill when entering card names, account names, and
item numbers or names.
„
Avoid leaving list windows open.
„
Use only a few linked accounts for inventory items.
„
Combine line-item quantities on sales and purchases.
„
Generate large reports when you’re the only person using the
company file.
„
Print reports by a specific month instead of by a date range.
Manual update. Go to the Window menu and choose
Refresh All. To update an on-screen report in the Report
Display window, click Redisplay.
CHAPTER 18
MANAGING USER ACCOUNTS AND COMPANY FILES
exporting data
Exporting data
You can take data entered in your MYOB company file and use it
in other software or in other MYOB company files. This process is
called exporting data.
Before you export data, you should make a backup of your
company file. See ‘Backing up and restoring company files’ on
page 263.
Some of the types of information you can export are: accounts,
items, general journal entries, inventory adjustments, Receive
Money transactions, Spend Money transactions, sales, purchases,
cards, jobs, timesheets, activities, and activity slips.
To export data
Exporting timesheets When you export timesheets, only
the entries that don’t have activity slips associated with them are
included. You must export activity slips to complete the process.
1
Go to the File menu, choose Export Data and then choose
the type of data you want to export. The Export File window
appears.
2
Select the export file format and enter other information in
this window. For detailed field help, click Help, and then
choose Help for This Window.
3
Click Continue. The Export Data window appears.
4
Choose the fields you want to export and the order in which
you want to export them. To do this, click on the first field you
want to export in the MYOB Premier Fields column. Field 1
will appear in the Export Order column next to the field you
NOTE :
The data can be exported to a tab-delimited or
comma-separated text file.
Single-user mode required for data export You cannot
export data when more than one user is logged in. For more
information, see ‘Single-user file locking for special tasks’ on
page 270.
NOTE :
273
APPENDIX A : IMPORTING AND EXPORTING DATA
Appendix A: Importing and
selected. The field name will appear at the top of the Export
Fields column on the left side of the window.
5
Repeat the previous step for each field you want to export.
If you want to remove a field name from the Export Fields
column, click the name in the MYOB Premier Fields column.
If you want to export all the fields in the order they’re shown
in the MYOB Premier Fields column, click Match All.
6
When you have selected the fields, click Export. The Save As
window appears.
7
Enter a file name and location for the export file and click
Save. The file is exported.
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. This makes it easier for the accountant to examine and
analyze their clients’ records. After examining their records, the
accountant may make adjustments to the records and these need
to be entered into the client’s accounting software.
If your accountant requests an electronic copy of your
accounting records, you can use your MYOB software 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 company file, you can request them
to give you these journal entries in electronic format. You can
274
then import these journal entries to your MYOB software. See ‘To
import from CaseWare’ on page 275.
To export to CaseWare
1
Go to the File menu, choose AccountantLink, and then
Export to CaseWare. The Export File window appears.
2
If you want to export journal entries in addition to company
information and accounts, select the Include Journal Entries
in Export File option. (Keep in mind, however, that exporting
journal entries may take some time, and may create a very
large export file.)
3
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.
APPENDIX A:
IMPORTING AND EXPORTING DATA
4
When you’re ready to create the CaseWare export file, click
Export. The Save As window appears.
5
Specify a location and file name for the export file. The data is
exported and saved as a text (.TXT) file.
6
Click OK or Save to begin creating the CaseWare export file.
When the file has been created, you can send it to your
accountant, who can then import it into CaseWare.
To import from CaseWare
1
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. You should also make a
backup of your company file.
Single-user access This task requires single-user access. For
more information, see page 270.
NOTE :
2
Go to the File menu, choose AccountantLink, and then
Import from CaseWare. The Open window appears.
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 software installation folder for a list of errors or
warnings. This is a text file—readable by most word
processors—that lists the problems encountered during the
import.
Importing data
You can take data entered in other software and incorporate it
into your company file. You can also incorporate information
from one MYOB company file into another MYOB company file.
This process is called importing data.
Some of the types of information you can import are: accounts,
items, general journal entries, inventory adjustments, Receive
Payments transactions, Receive Money transactions, Spend
Money transactions, Pay Bills transactions, sales, purchases,
cards, jobs, timesheets, activities, and activity slips.
The data can be imported from a tab-delimited or
comma-separated text file.
Single-user access This task requires single-user access. For
more information, see page 270.
NOTE :
Importing from CaseWare You can import journal entries
from CaseWare directly into your MYOB company file. For more
information, see ‘Exporting to and importing from CaseWare’ on
page 274.
Importing timesheets When you import timesheets, only
the entries that don’t have activity slips associated with them are
included. You must import activity slips to complete the process.
NOTE :
IMPORTING DATA
275
To import data
5
Before you start the import process below, you need to export
the data from the software used to create the data and save it in
a tab-delimited or comma-separated file format.
Back up your data Before you import data you should
make a backup of your company file. See ‘Backing up and restoring
company files’ on page 263.
NOTE :
Match the import fields with the MYOB Premier fields
column. To do this:
a Click the name of a field in the Import Fields column.
b Click the matching field in the MYOB Premier Fields
column.
The import field you selected appears in the Matching
Import Field column.
Some fields must be imported Fields that have an
asterisk (*) next to them must have matching import fields
assigned to them.
NOTE :
276
1
Go to the File menu, choose Import Data and then choose
the type of data you want to import. The Import File window
appears.
2
Select the import file format, the type of the first record, and,
if required, the method of handling duplicate records. For
more information, click Help and then choose Help for This
Window.
3
Click Continue. The Open window appears.
4
Locate and select the file you want to import and click Open.
The Import Data window appears.
c If you want to remove a matching field, click the field name
in the Matching Import Field column.
d If all the fields in the import file match those in the MYOB
Premier Fields column, click Match All to match all fields
simultaneously.
6
Click Import to import the data. If you get a warning or an
error message indicating that the import was not successful,
refer to the import log file in your MYOB software installation
folder for a list of errors or warnings. This is a text
file—readable by most word processors—that lists the
problems encountered during the import. This file is called
myoblog.txt.
APPENDIX A:
IMPORTING AND EXPORTING DATA
Importing Quicken (QIF) files
You can import Quicken-formatted files (QIF) that contain
transactions (except for transactions associated with your
investment or brokerage accounts). Refer to your Quicken
documentation for information about exporting QIF files.
When you import the transactions, you’ll need to match the
accounts in your company file with the Quicken accounts.
To import a Quicken file
1
Go to the File menu, choose Import Data from the File
menu, and then choose Quicken (QIF) File.
2
Select the QIF file you want to import and then click OK.
The import process begins.
3
If the Choose an Account window appears, select in the
MYOB Account field, the account that best matches the
account displayed in the QIF Account field or QIF Category
field.
If you don't match an account, an account will be
created for you, using the Quicken account name. If no Quicken
account name is present, the account will be named QIF
Allocation Account or QIF Source Account. You can change the
name later, if you want.
NOTE :
4
Click OK. The import process will continue.
If some transactions are skipped, or if there is a problem with
the import, a message will appear, indicating that the Import
Log report was created. This report (called myoblog.txt) is
located in the same folder as your company file. It lists the
problems that occurred during the importing process, and
information about any rejected records.
IMPORTING DATA
277
278
APPENDIX A:
IMPORTING AND EXPORTING DATA
company files
This section is only applicable to users who want to network company files on a peer-to-peer network.
Preparing company files for multiple users
If multiple users will be simultaneously accessing a company file,
it should be stored on a host computer where it can be accessed
across the network from other Windows workstations. The host
computer and workstations must be running Windows Vista, XP,
or 2000. Note that the workstations do not all need to be
running the same version of Windows.
NOTE : Network access privileges required In a Windows
network, access can be set at the domain or user level. If you are
unable to carry out the procedures in this section because you do
not have sufficient access privileges, contact the person who set up
your network for assistance.
All users who will need to access the company file automatically
belong to the special Everyone user group.This group is used as
the default group in these procedures as it simplifies the sharing
of a host folder. The members of the Everyone group will be
given permission to open, read from and write to the shared
company file.
Setting up networks needs expert skills Because setting
up routers or hubs, cabling computers, and configuring network
hardware and software require expert knowledge, you may need to
employ an expert with the necessary skills.
NOTE :
This section starts from the point where the network is already set
up and running. A local area network (LAN) can be set up in
many different ways. The procedures in this section describe the
most common situation where a LAN is protected from the
external Internet by a firewall on a router or gateway computer.
NOTE : The Everyone user group may be a security risk The
Everyone user group allows anyone on the network to access the
shared company file. If some employees are not authorized to access
your accounting data, read Windows help or consult a networking
expert to set up more secure access.
279
APPENDIX B : NETWORKING COMPANY FILES
Appendix B: Networking
Setting up the network hardware
Unless you are an expert, employ a networking consultant to set
up your network hardware. Show the consultant these
requirements for the host computer, and the hardware and
software requirements for the workstations specified in the
Getting Started guide.
Networking
Local area network (LAN), peer-to-peer
Windows host
Windows 2000 (Service Pack 4), XP or Vista
Equipment
Pentium processor, with 128 MB RAM, or better
Older computers may need a network interface card
(NIC)
Protocols
Ethernet (10BASE-T twisted pair cable, shielded or
unshielded) or Fast Ethernet (100BASE-TX twisted
pair cable, shielded), with Windows networking
(NetBIOS, NetBEUI, or TCP/IP)
Setting up a company-file folder on a Windows host
When several users are to work with a company file
simultaneously, it must be stored on a host computer to which
each user has access. Consider these tips for choosing a suitable
host:
„
„
280
Host the company file on the most powerful computer in
the network Users on workstations will enjoy better
performance if the company file is stored on the most
powerful computer in your network—the fastest, with the
most memory.
Host the company file on the key employee’s
computer If one employee will use the company file more
than anyone else, consider storing the company file on that
employee’s computer. This person will experience better
performance from accessing the company file directly,
compared with accessing it across the network.
„
Host the company file on a backed-up computer If you
store all your important files on a central host that is backed
up frequently, it is a good idea to also store your company file
on that host. The company file will then be backed up along
with all your other vital data.
Complete the appropriate task to set up a Windows host
computer and share a company-file folder:
„
To share a folder on Windows Vista, page 281
„
To share a folder on Windows 2000 Professional or XP,
page 281
„
To share a folder on Windows 2000 Standard, page 282
APPENDIX B:
NETWORKING COMPANY FILES
To share a folder on Windows Vista
2
This procedure applies to Windows Vista users. If this procedure
does not apply to your network configuration, consult a
networking expert or read Windows Vista help to set up
appropriate sharing access and permissions.
In Windows Explorer, create a folder named Company_Files
in a convenient location, for example, c:\Company_Files.
This folder is where the shared company file will be stored.
3
Right-click the Company_Files folder and choose Properties.
4
In the Company_Files Properties window, click the Sharing
tab and set the fields and controls as shown below.
1
Log in as an administrator if only administrators can set
permissions on your computer.
2
In Windows Explorer, create a folder named Company_Files
in a convenient location, for example, c:\Company_Files.
This folder is where the shared company file will be stored.
3
Right-click on the Company_Files folder and choose Share.
The File Sharing window appears.
4
Click in the Permission Level column next to the Everyone
user group and choose Co-owner. This enables full control
permission.
Everyone group If the Everyone group does not appear
in the list, select it from the menu field above the list and click
Add, then assign access permission as per the above step.
NOTE :
5
Click Share. In the confirm window that appears, click Done.
6
In Windows Explorer, move the company file to the
Company_Files folder you just created on the host.
7
Continue with ‘Accessing the shared company file from a
workstation’ on page 284.
Share this folder
Select this option. If your network does not
have workgroups or you are logged in to a
domain, select the Share this folder in the
network option, and then complete the wizard
that appears.
To share a folder on Windows 2000 Professional or XP
(Share this folder
in the network)
This procedure applies to Windows 2000 Professional and XP.
Consult a networking expert or read the Windows help to set up
appropriate sharing and access permissions if this procedure does
not apply to your network configuration.
Share name
Type the name that will be seen by users
accessing the folder from their workstations, for
example, Company_Files.
Comment
Type a description that users will be able to read
in the folder’s Property window. This option is
not present if your network does not have
workgroups or you are logged in to a domain.
1
Log in as an administrator if only administrators can set
permissions on your computer.
SETTING UP A COMPANY-FILE FOLDER ON A WINDOWS HOST
281
Maximum
allowed
Allow network
users to change
my files
5
Select this option to allow as many users as
possible to simultaneously access the company
file. This option is not present if your network
does not have workgroups or you are logged in
to a domain.
Permissions for Everyone
Allow
Deny
Full control
Select
Deselect
Change
Select
Deselect
Select this option. This option is not present if
your network does not have workgroups or you
are logged in to a domain.
Read
Select
Deselect
If your network does not have workgroups or you are logged
in to a domain, continue with step 8.
6
Click Permissions.
7
In the Permissions for Company_Files window, click the
Everyone user group, set the Allow and Deny checkboxes in
the Permissions list as shown below and click OK.
8
In the Company_Files Properties window, click OK.
9
In Windows Explorer, move the company file from its present
location to the Company_Files folder on the host.
10
Continue with ‘Accessing the shared company file from a
workstation’ on page 284.
To share a folder on Windows 2000 Standard
If this procedure does not apply to your network configuration,
consult a networking expert to set up appropriate sharing and
access permissions, or read the Windows help (search for sharing
files or sharing resources). Some versions of Windows have file
sharing disabled by default, so you must enable file sharing. If file
sharing is already enabled, you can begin with step 7 on
page 283.
Enable file sharing
282
1
Open the Network control panel.
2
In the Configuration tab, click File and Print Sharing.
3
In the File and Print Sharing window, select the I want to be
able to give others access to my files option and click OK.
4
On the Identification tab, complete the following fields and
click OK.
Computer
name
Type the name that will be visible in Network
Neighborhood (My Network Places on some versions of
Windows).
Workgroup
Type the name of the workgroup or domain to which
this computer belongs. If you are not sure whether
workgroups or domains have been created on your
network, consult a networking expert.
APPENDIX B:
NETWORKING COMPANY FILES
5
In the Network control panel, click OK.
6
If a message asks you to restart the computer, click Yes.
Shared As
Select this option
Share
Name
Type the name that will be seen by users accessing
the folder from their workstations, for example,
Company_Files.
Comment
Type a description that users will be able to read in
the folder’s Property window.
Share a company-file folder
7
In Windows Explorer, create a folder named Company_Files
in a convenient location, for example, c:\Company_Files.
This folder is where the shared company file will be stored.
8
Right-click the Company_Files folder and choose Properties.
9
In the Company_Files Properties window, click the Sharing
tab and set the fields and controls as shown below.
SETTING UP A COMPANY-FILE FOLDER ON A WINDOWS HOST
10
Set the access permissions according to which groups of
controls appear on the Sharing tab.
„ Access Type controls group
Select the Full option and
type a password in the Full Access Password field. (Users
will have to type this password to access the company file
in the Company_Files folder.)
„ Name and Access Rights controls group Click Add and
then, in the Add Users window, click:
„ Full Access to allow all users unlimited access to the
Company_Files folder, or
„ Custom, check ‘The world’ item, then click OK and
choose Read Files and Write to Files.
11
In the Company_Files Properties window, click OK.
12
In Windows Explorer, move the company file from its present
location to the Company_Files folder on the host.
13
Continue with ‘Accessing the shared company file from a
workstation’ on page 284.
283
Accessing the shared company file from a workstation
Workstations are Windows computers that access a company file
stored on another computer, referred to as a host computer.
Accessing the remote company-file folder on the host requires
you to complete these procedures for each Windows workstation
on the local area network (LAN). This process is also known as
mapping network drives.
When you are able to access the company-file folder containing
the shared company file, you can create a desktop shortcut to the
file. Clicking the shortcut starts your MYOB software and opens
the shared company file.
Complete the relevant procedure on every Windows workstation
that is to access the shared company file.
To access a shared folder on Windows Vista
1
Select Network from the Windows start menu.
2
Display the host computer’s files in the window and locate
the Company_Files folder.
Access may be password protected If a password is
required to access the shared company file folder, a window will
request you to enter a user name and password when you
attempt to access it.
NOTE :
3
Right-click the Company_Files folder and click Map
Network Drive. The Map Network Drive window appears.
4
Accept the proposed drive letter or choose another, select the
Reconnect at logon option, and click Finish. If access to the
folder is password protected, a logon window may appear. If
so, type the password and click OK.
In Windows Explorer, the Company_Files folder now appears
as a network drive under Computer. For example, you might
284
see the shared folder listed as Company_Files on 'Hongs-pc'
(V:).
5
Open the shared Company_Files folder. You should be able
to see the shared company file in it.
To access a shared company file folder on other
Windows versions
NOTE : Access may be password protected If a password is
required to access the shared company-file folder, a window will
request you to enter a user name and password when you attempt
to access it.
1
In Windows Explorer, open Network Neighborhood (or My
Network Places). You can also double-click the Network
Neighborhood (My Network Places) icon on the desktop.
2
Locate the host computer on which the shared company-file
folder is stored—see ‘Setting up a company-file folder on a
Windows host’ on page 280.
a Expand Entire Network.
(In Windows XP Home, open My Network Places, click
Add a network place and complete the Add Network
Place wizard.)
b Expand Microsoft Windows Network.
c Expand the workgroup or domain in which the host is
located, if there is one.
d Expand the host computer.
e If a Connect to hostName window appears, complete the
User Name and Password fields, select the Remember my
password option and click OK. You should now be able to
see the Company_Files folder.
APPENDIX B:
NETWORKING COMPANY FILES
Navigating network folders may not be necessary In
some versions of Windows, depending how the network access
is set up, all networked computers may be visible in Network
Neighborhood (My Network Places) without you needing to
navigate to network folders.
To open your company file from a shortcut
NOTE :
3
Right-click the Company_Files folder and choose Map
Network Drive.
4
In the Map Network Drive window (or wizard), accept the
proposed drive letter or choose another, select the
Reconnect at logon option, and click OK (Finish). If access
to the folder is password protected, a logon window may
appear. If so, type the password and click OK.
In Windows Explorer, the Company_Files folder now appears
as a network drive under My Computer. For example, you
might see the shared folder listed as ‘Company_Files on
'Hongs-pc' (V:)’.
5
Open the shared Company_Files folder to see the shared
company file in it.
6
Continue with ‘To open your company file from a shortcut’
below.
A fast way to start your MYOB software and open a company file
is to put a shortcut to the software and company file on the
Windows desktop. Then you only have to double-click the
shortcut to be up and running.
NOTE : Don’t create a shortcut only to the company file If you
are knowledgeable about shortcuts, you might be tempted to create
just a shortcut to the company file. Unfortunately, there are not
enough letter combinations to ensure that the .myo file extension is
unique to MYOB software. So, double-clicking a shortcut just to a
company file might start another program that works with a
different kind of .myo file.
1
Right-click an empty area of the desktop and choose New
and then Shortcut. The Create Shortcut wizard appears.
2
Type the path to the your MYOB software file in the
Command line field (or in the Type the location of the item
field) and click Next. Alternatively, you can click Browse and
navigate to and select the program file, and then click Next.
3
On the next page, either accept the proposed name for the
shortcut or type your preferred name in the Select a name
for the shortcut field (or the Type a name for this shortcut
field), and click Finish.
4
Right-click the new shortcut and choose Properties. The
Myobp.exe Properties window appears.
5
Click the Shortcut tab. The Target field displays the location
of the MYOB Premier Accounting program you entered in
step 2 above.
6
[Windows 2000 and XP users only] Enclose the location of the
program file in double quotation marks (“):
"C:\Premier\Myobp.exe" for example.
ACCESSING THE SHARED COMPANY FILE FROM A WORKSTATION
285
7
In the Target field, type a space after the closing quotation
mark (“), and then type the location of the company file,
including the .myo file extension.
[Windows 2000 and XP users only] The path to this location
should also be enclosed in its own quotation marks, for
example, "C:\Premier\Myobp.exe" "V:\Clearwtr.myo."
8
Copy the location of the company file from the Target field,
minus the name of the company file, and paste it into the
Start in field, for example “V:\” as shown below.
Note that there should be no quotation marks in Vista.
286
9
Click OK to close the Myobp.exe Properties window.
10
Double-click the shortcut on the desktop to test it. MYOB
Premier Accounting should start on this workstation and
immediately open the specified company file, whether it is
stored on a remote host or this workstation.
11
Repeat from step 1 on page 285 on each workstation that
needs access to the company file.
APPENDIX B:
NETWORKING COMPANY FILES
GLOSSARY
Glossary
Current Liability, Long Term Liability, Other Liability) account
types. Each of the other six classifications has just one account
type, each named the same as the classification.
A
account An account is a tool used to organize a business. You
can assign transactions to eight account classifications:
„
Asset
„
Liability
„
Equity
„
Income
„
Cost of sales
„
Expense
„
Other income
„
Other expense
accounting period A part of your fiscal year. MYOB software
treats each calendar month as a separate accounting period. Your
MYOB software also provides an optional 13th period for
year-end adjustments.
accounts list Commonly referred to as a chart of accounts, this
is a list of all your asset, liability, equity, income, cost of sales,
expense, other income, and other expense accounts.
accounts payable What you owe for goods or services
delivered. The sum of all accounts payable is recorded as a
liability account. Any time you record a purchase in the
Purchases command center, the unpaid balance of the purchase
is added to your accounts payable balance. Every time you pay a
bill (using Pay Bills in the Purchases command center), the
amount is subtracted from your accounts payable balance.
Accounts are classified as header or detail. Transactions are
assigned directly to detail accounts. Header accounts are used to
summarize multiple detail accounts. Each account must have a
unique number.
accounts receivable What your customers owe you. The sum
of all accounts receivable is recorded as an asset account. Any
time you record a sale in the Sales command center, the unpaid
balance of the sale is added to your accounts receivable balance.
Every time you enter a customer payment (using the Sales
command center), the amount is subtracted from your accounts
receivable balance.
account classification One of the eight accounts groups in the
Accounts List: Assets, Liabilities, Equity, Income, Cost of Sales,
Expense, Other Income, Other Expense.
account number The account number identifies an account.
Each account must have a unique number.
accrual method (basis) A method of accounting which
records sales and purchases at the time they’re delivered, not at
the time they’re paid for.
account type A label assigned to each account to indicate its
classification. For header accounts, account type names are the
eight account classifications. Detail accounts have multiple asset
(Bank, Accounts Receivable, Other Current Asset, Fixed Asset,
Other Asset) and liability (Credit Card, Accounts Payable, Other
accruals Hours that accumulate on paychecks; used to pay
special wages, such as vacation or sick pay.
287
activity A task or service provided by your company for which
you can track costs and bill customers on time billing sales.
activity slip A record of the activities performed by your
company; the basic record keeping unit of the Time Billing
Command Center. Customers are billed for the recorded time on
time billing sales.
activity statement A statement that includes all sales invoices,
payments, and orders with a customer deposit for a specific
period of time; a running balance is included. Quotes never
appear on an activity statement.
adjustment: bank deposit Entries in the Bank and Deposit
Adjustments window to account for details that would prevent a
bank reconciliation if omitted. An example is a fee charged by a
credit card processor.
adjustment: inventory Inventory adjustments change an
item’s quantity to match the actual quantity on hand, or to
change the unit cost. An inventory adjustment changes the
item’s total value.
adjustment: time billing Time billing adjustments change an
activity slip’s billable amount without affecting the record of the
hours or units that were actually worked, or changing the rate
usually charged for an activity.
Administrator The user ID that has access to the entire
company file. The Administrator ID is created automatically upon
creation of the company file. The Administrator must assign a
user ID to every other person who uses the system; no other user
is authorized to create other user IDs.
aging: payables The number of days between receiving a bill
from a vendor and an aging date (usually today).
aging: receivables The number of days between invoicing a
customer and an aging date (usually today).
288
allocation account Usually an expense or income account
used to automatically balance a transaction such as a check or
deposit.
assets Things you own. Your bank account and computer are
both assets. If someone owes you money, the total owed to you is
an asset. Current assets are assets that can be turned into cash
within a relatively short period of time (less than a year). Things
that take longer to turn into cash, like your factory building, are
called fixed assets.
audit trail Information captured by the accounting system to
track how each transaction affected every account balance, who
performed the processing, and so on. The Audit Trail Tracking
System security preference activates a tracking system that
records and reports certain entries and many changes performed
to a company file.
auto-build The process of combining two or more inventoried
items, or “components”, to create another inventoried item,
known as a “finished item”.
average cost method The average cost method to value an
inventory item. That is, the total cost of all your purchases for a
particular item currently on hand divided by the number of items
on hand.
B
backing up The process of preserving information in another
location to ensure the information you enter using your
computer is safe. Use the Back Up command to back up the
company file, with or without any supporting folders.
backup file A computer file copied during the backing-up
process, and stored at a secondary location.
bad debt Money owed to you that is unlikely to be paid.
GLOSSARY
balance The sum of all the money added to and subtracted
from an account.
or any other subset of your business that requires separate
reporting.
balance sheet A financial snapshot of a company’s position at a
particular time. A balance sheet lists the balances of the
company’s asset, liability, and equity accounts. It is called a
balance sheet because the total value of the asset accounts minus
the total value of the liability accounts always equals the total
value of the equity accounts.
cleared A withdrawal or deposit is said to be cleared when your
bank accepts it in your account balance.
bill
closed period An accounting period in which all entries are
completed. MYOB software does not require that you actively
close a period. However, in the Preferences window you can
prevent accidental posting to a closed (locked) period.
A recorded purchase transaction.
closed purchases
billing unit A 1, 6, 10, 12, 15, or 30 minute measure that you
define in the System tab of the Preferences window for use in
time billing for hourly activities, rather than whole hours.
Whether or not you use billing units, timesheets and time billing
invoices will display your billable units as whole hours.
budgets Expected monthly net activity for an account. Budgets
are useful for planning for the future and for analyzing actual
performance against planned performance.
build item The process of transferring inventoried item
quantities after finished items are created; also, the change in
quantity.
C
cards Cards are records of every customer, vendor, employee,
and personal contact you deal with.
cash flow The net flow of ‘money in’ minus ‘money out’ over a
period of time.
cash method (basis) Records the sale or purchase of goods
and services at the time they’re paid for, not when they’re
delivered. The opposite of the accrual method of accounting.
category A category is an entity for grouping transactions. A
category can be a department, profit center, geographic division
GLOSSARY
closed sales
Purchases that have been paid in full.
Sales that have been paid in full.
C.O.D. Refers to a transaction for which the balance is due at
the time the items are delivered. (An abbreviation for “Collect on
Delivery”.)
comma-separated file A file format in which fields are
separated by commas. Files in this format can usually be
imported into MYOB software.
company file A file comprising all your company’s financial
information such as business name, contact information,
accounts, and account transactions. You can use MYOB software
for 30 days in trial-mode. After this time, you will be unable to
enter any changes until the file is activated.
company information Found in the Setup menu, your
company information contains your company’s name, address,
tax information, and information about your company’s fiscal
year.
contra account This is an account that normally carries the
opposite balance of the accounts of the same type. Assets, for
example, normally have a debit balance; a common contra-asset
account is the accrued depreciation of an asset. By using a contra
account, you can show a company a car that’s worth $12,000, by
listing the asset at its $15,000 purchase price followed by the
-$3,000 balance of the accrued depreciation account.
289
conversion month The earliest month in the fiscal year for
which transactions are to be recorded. If you purchase your
MYOB software in October but begin to record transactions
dated from September 1, your conversion month is September.
The conversion month determines the opening balances you will
enter when you set up your company file.
cost of sales Sometimes called ‘cost of goods sold’ this
account type works just like an expense account. The only
difference is where it appears on the profit & loss statement. Cost
of sales accounts appear after your income accounts, but before
your expense accounts. Cost of sales is subtracted from your
income to produce gross profit, but your expenses are subtracted
from your gross profit to produce net profit. You are not required
to use cost of sales accounts.
credit An amount on the right side of the ledger. (Debit
amounts appear on the left.) A credit amount increases the
balance of accounts with a credit balance and decreases the
balance of accounts with a debit balance. Accounts that normally
carry a credit balance are liability, equity and income accounts.
credit hold A status that can be imposed on a customer’s
account. This action may be taken if the currently past due
amount reaches a certain amount or has existed for a certain
period of time, even if the amount due does not exceed the
credit limit.
credit terms The agreed upon rules governing the number of
days between delivery and payment, and discounts for early
payment and penalties. In MYOB software, you can set default
terms for all customers.
creditor
Someone to whom you owe money.
current assets Assets that can be turned into cash within a
relatively short time (less than a year) are called current assets.
Some of your current assets are your bank accounts, accounts
receivable, and petty cash. Current assets usually do not lose their
value over time. Current assets normally have a debit balance.
290
current liabilities
next year.
Liabilities that become payable within the
current year earnings Current year earnings is an equity
account. Its balance equals your income minus cost of sales and
expenses. Current year earnings are zero at the beginning of a
fiscal year. Current year earnings are kept as a running total as the
fiscal year progresses. When you start a new fiscal year, the
balance of the current year earnings account is reset to zero
because the balance amount is moved into the retained earnings
account.
custom fields Fields that can be assigned names to fit the way
card and item records are defined.
custom lists Lists of predefined attributes that remain standard
over time and can be assigned to cards and items. Once
assigned, they can be used to sort or to include or exclude cards
or items from reports.
custom report A modified version of one of the standard
reports (listed in the Index to Reports) that was saved for future
use. These reports are listed in the Custom tab of the Index to
Reports window.
customer Someone to whom you sell goods or services. You
must enter customer details in a customer card before you record
a sale.
customer credit When a customer returns goods they have
paid for, you can create a credit transaction to cancel the original
sale and record a return. A customer credit is usually an invoice
recorded with a negative amount. A customer credit is also
created when a customer’s account is overpaid. A customer
credit is settled by writing a refund check or applying the amount
to another open invoice.
GLOSSARY
D
deposits to vendors Advances paid to vendors for goods or
services not yet delivered. Vendor deposits are kept in an asset
account.
Day of Month after EOM A setting to indicate that the
payment due date and early payment discount date are based
both on the month after the transaction was recorded (after the
End of Month) and the selections made in the Discount Date and
Balance Due Date fields. For example, if a transaction was
recorded in April with a discount date of the 1st and a balance
due date of the 25th, a discount would apply if the balance was
paid by May 1; the entire balance would be due May 25.
depreciation The expense allocation of the cost of an asset
over a period of time. Most accountants create a contra-asset
account, such as accumulated depreciation, to track the
depreciation of an asset. A typical depreciation transaction
credits the contra-asset account and debits a depreciation
expense account. Depreciation is most often recorded as a
general journal entry.
debit An amount on the left side of the ledger. (Credit amounts
appear on the right.) A debit amount increases the balance of
accounts with a debit balance and decreases the balance of
accounts with a credit balance. Accounts that normally carry a
debit balance are asset and expense accounts.
debit purchase
See vendor debit.
debtor Someone who owes you money. See also accounts
receivable.
deduction Any amounts other than taxes that are subtracted
from an employee’s gross pay.
default A suggested entry that appears in a data entry field;
also a setting or preference that is used automatically for a feature
or option unless the user specifies another.
delivery status The means by which you send a form to a
customer, employee, or vendor. The choices are To Be Printed, To
Be Emailed, To Be Printed and Emailed, or Already Printed or Sent.
For sales and purchases, you can assign a default status to a
customer or vendor and change it for an individual sale or
purchase.
detail account An account to which transactions can be
assigned. Several detail accounts can be grouped under a header
account. Detail accounts are postable while header accounts are
not postable.
detail job A job used for tracking the specific income, costs,
and expenses incurred on a daily basis. Reimbursable expenses
can be tracked and specific line items in transactions can be
assigned.
discount early payment The amount taken off the balance
due in return for payment within an agreed number of days.
discount volume purchase The amount taken off an item’s
cost because of a special vendor or customer arrangement.
discount days The number of days from a sale or purchase
within which full payment of the balance due entitles the payee
to a discount.
double-entry accounting A method of bookkeeping in which
every entry is balanced by another entry. Correct double-entry
accounting always provides a balanced set of books; that is, the
total value of your asset accounts minus the total of your liability
accounts should equal the total value of your equity accounts.
deposits from customers Advances received for goods or
services not yet delivered. Customer deposits are kept in a liability
account.
GLOSSARY
291
E
earnings Income minus cost of sales and expenses. See current
year earnings.
electronic payment A payment that directly credits your bank.
You must subscribe to MYOB Vendor Payments to make
electronic payments.
employer expenses Your company’s costs of having
employees. They are calculated on employees’ paychecks, but
don’t affect the employees’ net pay; instead, they affect the
amounts you must contribute to the employee, to the
government, or to other institutions.
equity A company’s net worth. The equity of a company equals
its assets minus its liabilities. Equity is an account type. Equity
accounts usually carry a credit balance. Some common equity
accounts are current year earnings, retained earnings, and
shareholder’s equity.
expense A cost associated with running a business. Expense is
an account type. Expense accounts usually carry a debit balance.
exporting The process of transferring data from a company file
to a text file for use with another software program.
F
field A location where one unit of information, such as the
telephone number for a customer, is entered and displayed. Data
fields can contain either information entered by a user or the
results of a calculation performed by your MYOB software. Text
fields usually are labels for data fields.
292
file locking A special function that makes it possible for more
than one user to enter information in the same company file at
the same time. (See multiuser file locking and single-user file
locking.)
filters Selections that enable you to set criteria to specify
information that you want to display, print, or email.
finance charge The amount added to an outstanding balance
as a penalty for late payment.
financial statements The balance sheet and income (profit &
loss) statement. The balance sheet is your company’s financial
picture at a particular time. The income statement shows your
company’s financial performance over a period of time.
finished item Term for an inventory item that’s the result of
combining two or more components.
fiscal year The 12-month period you use to define your
accounting year. MYOB software does not require that it matches
the calendar year. You are also provided an optional 13th period
for making year-end adjustments that you do not want to affect a
particular month.
fixed assets Assets that have a relatively long life (a year or
more). Your buildings, cars, and computers are fixed assets. Fixed
assets usually depreciate; that is, they lose some of their value as
you use them.
form A document used in day-to-day business, usually to
accomplish transactions like sales and purchases. Typical forms
include sales invoices, statements, purchase orders, and checks.
Payroll Tax Forms are official documents that are filed with the
government. Documents such as labels, personalized letters, and
packing slips are also considered forms.
GLOSSARY
G
I
general journal A journal used to record miscellaneous
transactions not entered in other journals. For example, year-end
adjustments and depreciation expenses.
icons A graphic representation of an object that appears on a
computer screen. Icons in include the zoom arrow and search
icon.
general ledger This is where all your account
information—sales, purchases, inventory, cash in, cash
out—come together. You prepare your financial statements
(balance sheet and income statement) from the general ledger
information.
identifiers A one-letter code used to sort and select cards in the
card file. You can assign up to 26 identifiers to a card.
gross profit
It is defined as income minus cost of sales.
H
header account A header account is used to group similar
detail accounts. You cannot post a transaction to a header
account.
header job A job used for grouping jobs and organizing
income, costs, expenses, and profit or loss in larger, more
comprehensive categories than individual jobs. Reimbursable
expenses cannot be tracked for header jobs and line items can’t
be assigned as they can be with detail jobs.
historical balance The balance of an account prior to
converting your records to MYOB software. You are not required
to enter historical balances. Enter them only if you wish to
compare a current month’s activity to the activity for the same
month last year.
historical purchase A purchase that had a current balance due
on the first day of the month in which you began using your
MYOB software.
import log A report created during the importing process. This
report (titled myobplog.txtAccountEdgeLog) lists information
about any problems that occurred during the importing process,
as well as information about rejected duplicate records.
importing The process of bringing data into a company file
from a different software program, or from a different MYOB
software company file.
In a Given Number of Days A setting to indicate that the
payment due date and early payment discount date are based on
a specified number of days since the transaction date.
inactive If you rarely use a card, item, or location and you do
not want it to appear in Select From Lists, you can make it
inactive.
income Revenue from the sale of goods or services. Income is
an account type. Income accounts usually carry a credit balance.
income statement Also called a profit & loss statement, the
income statement shows your company’s performance over a
period of time. An income statement begins with income. It then
subtracts cost of sales to produce a gross profit. Expenses are
subtracted from gross profit to produce operating profit. ‘Other
income’ amounts are added to operating profit and ‘other
expense’ amounts are subtracted from operating profit to
produce net profit.
historical sale A sale that had a current balance due on the first
day of the month in which you began using your MYOB software.
GLOSSARY
293
inventoried item A physical unit stored for possible sale to a
customer. This is an item record for which the I Inventory This
Item option has been selected.
inventory Raw materials, items available for sale, and items in
the process of being made ready for sale. Most accountants
record an inventory’s value in a current asset account. Inventory
items are valued using the average cost method.
inventory adjustment The process of changing the quantity of
an inventoried item to match the actual quantity on hand; also,
the change in quantity.
invoice
The record of a sale.
line item The information entered in one row of the scrolling
list for a transaction (sale, purchase, general journal entry).
linked account Your MYOB software uses linked accounts to
post your inventory, sales, and purchase transactions to the
proper account. When, for example, you link your receivables
account, you are telling your MYOB software where to post the
balance due from a sale.
location A record of a physical location where inventoried
items are stored, for example, a building, an aisle, or a bin.
item A unit in your items list. An item can be physical inventory,
like a widget or a pair of shoes; or it can be non-physical, like an
hour of your time.
locked period An accounting period in which entries are no
longer allowed. Periods may be locked using a security option in
the Preferences window.
J
long-term liability A liability that does not have to be paid for
at least a year.
job Work for which you wish to track income and expenses. A
job can be a profit center, a product line, a project, or any other
subset of your business that requires a separate income
statement.
journal A tool for organizing your accounting entries. All
entries are grouped into one of six journals: general,
disbursements, receipts, sales, purchases, or inventory.
journal entry
amounts.
A transaction consisting of equal debit and credit
L
liability Things you owe. Your working capital loan is a liability.
Your accounts payables is what you owe someone for a purchase,
and are liabilities. Liabilities that are due within the next year are
called current liabilities. When a liability is not due for more than
294
a year, it is called a long-term liability. Liabilities normally have a
credit balance.
M
markup The difference between your cost and the selling price.
Percent markup is calculated by dividing the markup by the cost.
For example, an item that costs $10 and sells for $12 has a $2
markup. The markup percent is 20%. For comparison, see also
margin.
margin Percent margin is calculated by dividing the markup by
the selling price. For example, an item that costs $10 and sells for
$12 so has a $2 markup. The margin percent, calculated by
$2/$12, is 16.67%.
miscellaneous purchases Used to record non-item purchases
that do not require a printed purchase order.
miscellaneous sales Used to record non-item sales that do not
require a printed invoice.
GLOSSARY
multiuser file locking Used when more than one person is
entering information into the same company file at the same
time to prevent different pieces of data from “colliding” into each
other when they’re simultaneously entered into a company file;
such a situation, if not prevented, could seriously damage the
company file.
N
negative inventory Negative inventory is inventory with an
on-hand quantity and a total value less than zero.
net income Net income (net profit or loss) is the total of all
income amounts minus the sum of your expense and cost of sales
amounts. Positive values are called ‘net profits’ and negative
values are called ‘net losses’.
Number (#) of Days after EOM A setting to indicate that the
payment due date and early payment discount date are based on
a set number of days after the end of the month.
O
OfficeLink A feature used to transfer reports to Microsoft Excel,
and allows creation of personalized letters using a compatible
word processing program.
OfficeLink template One of the special Excel and Word
templates that are installed with your software. These are used to
view reports in Excel or export data to personalized letters.
On a Day of the Month A setting that indicates that the
payment due date and early payment discount date are based on
the month when the transaction was recorded as well as
selections made in the Discount Date and Balance Due Date
fields. For example, if a transaction is recorded in April with a
discount date of the 10th and a balance due date of EOM, a
discount would apply if the balance were paid by April 10 and the
entire balance would be due April 30.
GLOSSARY
open bill
A purchase with an outstanding balance due.
open sale A sale with an outstanding balance due.
opening balance The balance of an account as of the start of
the first day of your conversion month.
operating profit Profit you made before considering ‘other
income’ and ‘other expense.’
optimizing The process of removing unused areas in the
company file and keeping your accounting software running
efficiently. The Optimization Assistant accomplishes this process.
other expense An account type used to record expenses that
are not directly related to your company’s operations such as
loan interest, fines, etc. ‘Other expense’ accounts usually have a
debit balance.
other income An account type used to record income that is
not directly related to your company’s operations such as bank
interest, investment income, etc. ‘Other income’ accounts
usually have a credit balance.
out of balance When the total credit amount does not equal
the total debit amount in a transaction, the transaction is out of
balance. You cannot record an out of balance transaction.
P
payables What you owe for items or services delivered. See
‘accounts payable’ on page 287.
payroll categories The components of an employee’s
paycheck. These are grouped into five payroll category types:
wages, accruals, deductions, taxes, and employer expenses.
posting Transferring a journal entry to the General Ledger.
295
preferences A variety of setup options used to customize the
way you work in your company file. (Find them by choosing
Preferences from the Setup menu.)
prepaid A transaction for which the balance is due at the time
the transaction occurs. No credit is extended to the customer in a
prepaid transaction.
pricing levels Different prices at which an item is sold to
different kinds of customers. Up to six pricing levels can be set.
primary vendor
purchased.
The vendor from whom an item is usually
profit & loss statement
See income statement.
profit center A subset of your business for which you want to
track income and expenses. You can track a profit center by
assigning a job number or category code to transactions.
promised date The date a pending sale or pending purchase is
due to be delivered on. If a pending sale is not delivered as of its
promised date, a reminder is posted to the To Do List.
purging The act of erasing old data. You can purge journal
entries, closed sales, closed purchases, activity slips, and contact
logs.
Q
quote An estimate you provided to one of your customers or
received from one of your vendors. A quote doesn’t create a
transaction, so it has no impact on your financial records or
inventory levels. No payments can be applied to a quote.
296
R
realized losses and gains Actual changes in the value of your
assets, liabilities, and equity that occur when you exchange
foreign currency for your local currency.
recap transaction A function that lets you look at a journal
entry before it is recorded. Recap transaction is particularly useful
for those transactions, such as invoices and bills, for which the
journal entry is not immediately obvious.
receivables What someone owes you for items or services
delivered. See accounts receivable.
reconciling The process of checking that your records agree
with your bank’s records.
record A collection of information about individual parts of
accounting data. For example, information about a single
customer is stored as one record.
recurring pay The current values of an employee's payroll
details (wages, accruals, deductions, employer expenses and
taxes) that are automatically used when processing the
employee's pay.
recurring transaction An accounting entry that is made
periodically, such as weekly payroll, monthly rent, etc.
reimbursable expense An expense that is incurred on behalf
of a customer for a job and that will be reimbursed by the
customer.
report batch A group of reports that are set up so that they can
be printed at one time.
GLOSSARY
report header A report section that’s printed at the top of a
page. Report headers typically include labels for each column in
the report, as well as the date and time the report was printed.
restoring The process of decompressing a backup file so it can
be used. Choosing the Restore command found in the File menu
is one way to accomplish this.
retained earnings Money from previous years earnings that
has been left in the company. At the end of a fiscal year any
money earned (or lost) during the fiscal year is transferred to
retained earnings. Retained earnings are recorded in an equity
account.
revenue Income from the sale of goods or services. Revenue is
recorded in an income account. Income accounts usually carry a
credit balance.
reversing The process of canceling a transaction by entering a
new transaction with the same amounts but with opposite signs.
S
session report A report containing journal activity since the
company file was last opened.
shareholder’s equity The owners’ stake in the company. It is
the amount the owners invested in the company plus the current
year earnings and retained earnings.
standard cost The price entered for the item in the Buying
Details view of the Item Information window. You can change the
price on the purchase, if you want. If you select the Use Standard
Cost as the Default Price on Purchase Orders and Bills option,
it is the price that will appear automatically for the item when you
enter a purchase.
sub-job A component of another larger, more comprehensive
job.
sub-tax
The tax codes that make up a Consolidated tax type.
system-wide preference A setting in the Preferences window
that affects everyone who works with the company file, not just
the user who selects that preference.
T
tab-delimited file format A file format in which fields that are
separated by tab spaces. Tab-delimited files can be opened in
most word-processing and spreadsheet software, and can usually
be used to import data into MYOB software.
tax table A set of detailed Federal and state tax information
used for calculating employee withholding amounts. Tax tables
are updated periodically.
terms See credit terms.
transaction
single-user file locking A feature that ensures that only one
user is using a company file during certain file maintenance tasks
(such as backing up and checking a company file for errors) that
require the ’full involvement’ of the company file.
GLOSSARY
An entry that affects the balance of accounts.
trial balance A report showing all the activity for an account or
accounts within a selected date range. It shows the balance of the
account at the beginning of the date range, the activity within
the date range, and the balance at the end of the date range. A
trial balance is useful for checking your entries before performing
your period-end processing.
297
U
undeposited funds account The linked account into which
individual cash-receipts transactions are recorded when not
credited directly to checking or credit card accounts. Amounts
from individual transactions in the undeposited funds account
are grouped together. When deposited, they are recorded as a
single bank deposit transaction on the bank or credit card
statement.
unrealized losses and gains Potential changes in the value of
overseas transactions when dealing in multiple currencies; affects
only open (unpaid) transactions.
verifying The process of checking a company file for errors to
catch minor inconsistencies in the file before they cause serious
problems. The Verify Data File feature accomplishes this.
W
User IDs A unique identification code assigned to each user of
the company file. Each user must enter an ID. User IDs are the
basis for the software’s security system, and can be used keep
track of the actions of each person who performs tasks that affect
the company file.
wildcard A character used to further define search criteria in
reports. Your MYOB software uses the asterisk (*) and the
question mark (?) as wildcards.
V
zoom arrow An small arrow icon that enables you to view, or
“zoom,“ to more detailed information about a specific card or
transaction.
vendor Someone from whom you buy goods or services. You
must enter vendor details in a vendor card before you can record
a purchase.
298
vendor debit When you return goods to a vendor, you need
to correct your records to record the return. To do this, you can
create a vendor debit. A vendor debit is a transaction with a
negative balance for the goods you returned. A vendor debit is
also automatically created if you overpay your account. A vendor
debit is settled by recording a vendor’s refund check or by
applying the amount to another open bill for the same vendor.
Z
GLOSSARY
Numerics
1099 statements
printing at year-end 258
A
ABA routing number 28 121
account levels, to track financial
information 235
Account Opening Balances
window 30
account types 26
accountant, sending data to 255
Accounting 101 guide 11
accounting periods
closing 254
locking 248 254
number of 22
accounts
adding 28
adjusting to reflect work in
progress 148
budgets for 241
changing 179
classifications 26
for statement of cash flows 28
combining 182
creating 28
deleting 180
detail 27
entering opening balances 29
INDEX
Index
accrual accounts, setting up for
receiving items without a
vendor bill 97
exporting
to CaseWare 274
to other software 273
finding 178
foreign currencies, tracking 169
grouping, detail 29
header 27
importing 275
indenting 29
list of 23
new 28
numbers 26
opening balances
bank accounts 30
reconciling 251
for the first time 38
transferring money
between accounts 56
to foreign accounts 173
types of 26
undo reconciliation 251
accrual balances, viewing an
employee’s 135
Accrual Information window 114
accruals
changing 135
definition 111
linked wages category 114
payroll categories
changing 114
creating 111
deleting 180
viewing 135
ACH Direct. See MYOB Business
Services (MBS)
activation of company files 24
circumstances requiring 24
confirming activation
automatically 266
by telephone 266
over the Internet 266
troubleshooting 267
Accounts List window 28
accounts payable
analyzing 102
paying 103
reconciling
at month-end 249
at year-end 249
reports 102
activities
billing rates, setting 139
changing 141 180
creating time billing 140
definition of 140
deleting 141
exporting 273
importing 275
inactivating 141
accounts receivable
analyzing 79
payments 81
reconciling
at month-end 249
at year-end 249
reports 79
Activities List window 140
Activity Information window 140
activity slips
adjusting book value of work in
progress 148
assigning payroll category to 143
changing 145
creating
multiple 144
single 142
creating a slip to pay an
employee 142
deleting 145
exporting 273
finding 145
importing 275
including in employee’s pay 125
142
multiple 144
reviewing 145
single 142
using timer to create 143
adjustments
automatically adjusting base pay
details for leave 113
entering in 13th period 22 255
making at year-end 255
administrator account
passwords 32
See also user accounts
Aging Date window 102
aging periods, setting up 102
Analysis menu (command
centers) 15
Analyze Payables window 102
Analyze Payroll window 133
299
Analyze Receivables window 80
Analyze Sales window 80
arrows. See search icons; zoom
arrows
assets
recording depreciation 253
assets accounts 26
ATM, withdrawals 58
audit trail 243
auditing company file
information 248
Auto-Build Information
window 156
Auto-Build Items window 157
auto-building items in
inventory 156
Automatically Adjust Base Hourly
or Base Salary Details 113
average cost of an item 152
B
backing up
company file 263
setting reminder for 265
Backorder List window 76
backordering items 76
backorders
items purchased on 94
items sold on 72 94
backup file, restoring 265
bad debts, writing off 90
300
bank accounts
adding 28
checking account for MDD and
MVP 46
deposits 51
for electronic payments 46
opening balances 30
reconciling
at month-end 64
at year-end 64
for the first time 38
out of balance amounts,
correcting 65
bank deposits, preparing 51
Bank Register window
finding a transaction using 185
Get Statement button 67
recording receipts in 49
recording transactions in 54
Split button 55
bank service charges,
recording 65
bank statements
adding transactions from 67
importing
formats supported 67
out of balance amounts,
correcting 65
reconciling 64
for the first time 38
paying 103 104
several at once 105
using the Bank Register
window 54
using the Pay Bills window 52
payment notifications 103
pending MVP payments,
processing 106
printing forms 206
receiving items without 97
recording 93
See also accounts payable
blank lines, inserting between line
items 75
Budget Shortcuts window 241
budgets 241
allocating for accounts 29
allocating for jobs 238
choosing accounts to budget 241
half-yearly 243
monthly 243
quarterly 243
reports for 241
yearly 243
building items 76 156
business calendar 15
business contacts, maintaining list
of 221
billing for time. See time billing
billing rates, setting for
activities 139
customers 139
employees 139
vendors 139
C
bills
editing paid 187
grouping MVP payments in the
Electronic Clearing
Account 106
calendar 15
calculator 16
currency 171
Card ID field 231
Card Information window 91
cards
adding 217
changing 179
combining 181
creating
customer 69
employee 117
personal 217
vendor 91
custom lists and fields 224
deleting 180
employee payroll
information 118
exporting 273
finding 178
using advanced search
filters 178
identification code 231
importing 275
inactivating 179
organizing in groups 223
reactivating 179
synchronizing cards and Outlook
contacts 225
updating for MDD and MVP 46
47
CaseWare 274
exporting to 274
importing from 275
cash wages, creating a transaction
to record 131
categories
changing 179
creating 236
deleting 180
enabling allocation of 236
finding 178
setting up 236
tracking financial information,
using 236
See also payroll categories
chargeback 58
INDEX
charging for time. See time billing
company-files folder. See network
checks
custom 210
customizing 211
entering 54
previewing 54 105
printing 206
recurring 54
voiding 58
components, using to auto-build
items 156
columns, moving and resizing in
reports 195
combining
accounts 182
cards 181
confirmation codes
entered during telephone
confirmation 266
generated during Internet
confirmation 266
confirmation of company files
automatic confirmation 266
by telephone 266
over the Internet 266
troubleshooting 267
voiding MMAS payments 64
See also MYOB Merchant Account
Service (MMAS)
credit card statement
adding transactions from 67
matching transactions with 67
credit control
credit holds 85
credit limits 84
credit terms 72
finance charges 86
Credit Limit & Hold window 84
Credit Limit Override Password
window 85
command centers 12–15
contact log 221
automatic entries 221
Company Data Auditor 243
248 –251
contact management 217
See also cards
Company File Confirmation
window 265
contra accounts 90
contra payments 90
credit limits
password, changing 85
prevent recording sales if customer
exceeds 85
setting 84
warn if customer exceeds 84
company files
activating 24
circumstances requiring 24
auditing 248
backing up 263
checking for errors 248 267
confirming 267
automatically 266
by telephone 266
over the Internet 266
desktop shortcut to 285
locking 270
optimizing 268
purging unwanted data from 268
restoring from backups 263
serial number, entering 25
sharing on a network 279 281
limiting factors 269
troubleshooting 267
unable to open 269
verifying 248 267
conversion month 22
credit note 88
Copy From button 150
credit terms
changing when recording
purchases 94
sales 72
setting
for customers 70
for vendors 92
INDEX
cost of an inventory item
average 152
last 152
cost of sales
account for tracking 150
cost of sales accounts,
definition 27
counting inventory 158
creating from a sale 74
credit card
customer paying by 49
handling a chargeback 58
paying 59
using MMAS 60
printing MMAS receipt 83
purchases 59
recording purchases 59
creditors. See accounts payable
credits. See customer credits
Currencies List window 168
currency
accounts 168
adding 168
calculator 171
tracking gains and losses 172
See also multiple currencies
currency calculator 171
Currency Information
window 168
current fiscal year 22
custom fields
recording card details using 230
recording item details using 164
custom forms
adding data fields 213
adding images 214
custom checks 211
drawing lines on 215
drawing rectangles on 215
elements 216
page properties, setting 211
previewing 212
printing 212
removing elements 214 216
resizing elements 216
saving 212
size of 211
tool palette 213
custom lists
creating 224
filtering inventory reports
with 164
grouping items with 163
printing on purchases and
invoices 164
custom price levels 162
assigning to a customer 163
customer credits
deleting 186
issuing 87
recording 87
refunding by check 89
settling 88
customer payments 81
discount for early payment 82
editing 187
group with undeposited funds 82
See also receiving payments
301
customer statements
emailing 253
printing 252
sending at month-end 252
customers
assigning a price level to 163
billing rates for 139
cards
creating 61
updating 61
cards, creating 69
credit holds 85
credit limits 84
credit terms 72
credits
deleting 186
issuing 87
recording 87
refunding by check 89
settling 88
discounts
for early payment 82
volume 73
entering credit card details 59
invoices
entering 71
payments for 54 81
payments from 54 81
quoting 71
who are also vendors 90
See also MYOB Merchant Account
Service (MMAS)
customizing forms See custom
forms
D
data
exporting to other software 273
importing 275
302
limiting access to. See user
accounts
purging 268
data fields
adding to a form 213
changing font characteristics 214
changing size of 216
font characteristics 214
resizing 216
data file. See company files
dates, entering with calendar 15
debtors. See accounts receivable
Deduction Information
window 115
deductions
definition 111 112
paying 132
payroll categories
changing 115
creating 111
deleting 180
deleting
accounts 180
records 180
deposits
recording 51
in the Bank Register window 54
saving as recurring 50
depreciation
accounts for 254
recording 253
discounts
early payment discounts
giving 82
receiving 105
reversing customer payments
with 188
volume discounts
giving 73
receiving 95
E
early payment discount 82
Edit Accounts window 28
Edit Recurring Schedule
window 190
eFile service 47
electronic clearing account
grouping MVP payments in 106
processing pending MVP
payments 106
setting up for MDD and MVP 46
electronic payments.
See MYOB Direct Deposit (MDD),
MYOB Merchant Account
Service (MMAS) and MYOB
Vendor Payments (MVP)
emailing 131
forms in a batch 207
pay stubs 131
payment notifications 105 206
in a batch 207
purchases 96 207
reports 196
sales forms 75
statements 253
employees
accrual balances, viewing 135
activity slips, including in pay 125
analyzing payroll 136
bank details 47 121
billing rates, setting 139
bonuses 124
cash payments 129
check payments 129
commissions 124
creating cards for 117
electronic payments
changing bank details for
current pay 128
emailing, pay stubs 131
hours worked, entering 126
pay details
editing 125
previewing 125
pay history
entering 37 120
viewing 134
paying 123–132
payment method 121
payments, changing, deleting or
reversing 129
payroll information
analyzing 136
entering 118
viewing 133
payroll liabilities
clearing 132
paying 132
reviewing 136
printing paychecks and sending
payments 129
recurring pay, entering 120
removing from the Process Payroll
assistant 124
resubmitting failed MDD
payments 130
sales history for 80
setting up
cards 117
in the Easy Setup Assistant 120
sick pay, recording 126
time billing information
including in employee
pays 120 125
timesheets 122
vacation pay
distributing 126
recording 126
Employer Expense Information
window 116
INDEX
employer expenses
definition 112
paying 132
payroll categories
changing 113
creating 111
deleting 180
end-of-month. See month-end
equity accounts 27
error, checking for in company
file 248
Excel, viewing MYOB reports
in 197
exchange accounts, tracking
foreign transactions 169
exchange rates 171
changing
default 171
for a transaction 171
expense accounts 27
expenses, accounts for
payroll category 116
Export Data window 273
Export Summary Window 227
exporting data 273
to CaseWare 274
to Outlook 226
See also synchronizing cards and
Outlook contacts
F
faxing
purchases 96
reports 196
sales 75
sales forms 75
INDEX
file locking
multi-user mode 270
single-user mode 270
finance charges
calculating 86
charging 86
deleting 86 109
paying 105
using to track late payments 109
financial analysis
Business Insights 245
reviewing financial
information 245
Find Transactions menu (command
centers) 15
Find Transactions window 184
finding
records 178
transactions 183–186
finished item 156
fiscal periods, locking 254
fiscal year
budgets for 241
closing 255
starting 256
year-end tasks 255
fonts
changing on forms 214
changing on reports 202
default 212
foreign currency
adding a new currency 168
changing 179
deleting 180
See also multiple currencies
foreign purchases. See multiple
currencies
foreign sales. See multiple currencies
forms
adding fields to 213
customizing 210
emailing 206
faxing 206
finding 205
printing 206
sending in batches 206
See also custom forms
freight
charging customer for 73
paying vendors for 96
help
online 12
resources 12
tips and troubleshooting 12
host computer
setting up 280
system requirements 280
See also workstations
How to Upgrade guide 11
HTML format, saving reports
in 196
G
I
general journal entries 256
creating recurring transactions
for 189
exporting entries 273
to CaseWare 274
importing entries 275
from CaseWare 274
See also journal entries
Identifiers, using to group
cards 223
Getting Started guide 11
import log file 276
graphics
adding to forms 214
changing size of on forms 216
See also pictures
Import Summary window 230
H
half-yearly budgets 243
header
accounts 27
jobs 237
headers, using to group line items
in transactions 75 96
images
adding to a form 214
pasting on forms 215
Import and Export Options
window 226 229
importing
data
from CaseWare 275
from Outlook 229
QIF files 277
Quicken files 277
statements
file formats supported 67
Get Statement button 67
matching transactions 67
online banking 66
inactivating records not used
frequently 179
303
international transactions. See
multiple currencies
Internet banking
importing statements 66
inventory
adjusting 152
analyzing 159
auto-building items 156
average cost of an item 152
changing prices of 161
counting 158
custom fields 164
custom lists and reports 163 164
custom price levels 162
entering opening balances 42
exporting adjustment
transactions 273
importing adjustments 275
insufficient quantities 76
item costs 152
locations 154
making transfers 156
moving between locations 154
negative on-hand quantities 77
opening cost values, entering 42
opening quantity values,
entering 42
quantity breaks 163
receiving items without a bill 97
reconciling at year-end 249
recording 158
reports 159
reviewing 159
stocktakes, recording 158
transferring 154
viewing history 159
See also items
Inventory Count Sheet 159
printing 42
inventory transfers. See build items
304
invoices
blank lines, inserting 75
customizing form layout 210
emailing 206
entering 71
faxing 75
headers 75
inserting headers to group line
items on 75
line items, entering 72
overdue invoices, list of 79
payments 81
previewing 75
printing 206
in a batch 206
printing custom lists on 164
recurring 74
subtotal, adding 75
time billing invoices 146
finding 178
finished item, defined 156
I Buy this Item option 149
I Inventory this Item option 149
I Sell this Item option 149
importing 275
last cost 77 152
locations 154
moving between locations 154
negative on-hand quantities 77
number per selling unit 152
opening quantities and values,
entering 42
price levels
changing 161
setting 161
setting custom 162
purchase history 103 161
receiving without a bill 97
sales history 80 161
setting up 149
spell check 18
standard cost 77 151
standard cost of 151
time billing invoices, including
on 138
transfers 156
using custom fields for recording
details of 164
Item Information window 150
items
adding 150
adjusting quantities and
values 152
asset account for tracking value
of 150
auto-building 156
average cost 77 152
backordering 76
base selling price 152
building 76 156
buying 76
counting 158
creating 150
custom lists to group 163
default location 152
default vendor number 151
deleting 180
expense account for tracking
cost 150
exporting 273
items received, setting up accrual
account for 97
Items Register window, finding
transactions using 185
J
jobs
assigning expenses to 239
assigning to
payroll categories 128
purchases 95
Receive Money transactions 50
sales 73
Spend Money transactions 53
billing the customer for
expenses 239
budget allocation 238
budget amounts, entering 238
changing 179
creating 237
deleting 180
detail jobs 237
exporting 273
finding 178
header jobs 237
importing 275
job-tracking tasks 237
opening balances, entering 238
setting up 237
sub-jobs 237
tracking reimbursable
expenses 239
using for tracking income and
expenses 235 237
journal entries
creating recurring transactions
for 189
exporting 273
finding 183
importing 275
purging 268
recapping transactions for 53
recording 256
K
keyboard shortcuts 17
INDEX
L
last cost of an item 152
layout
customizing forms 210
purchases 94
sales 72
locations, inventory
adding 154
changing 179
creating 154
default, changing 154
deleting 180
moving items between 155
primary 154
lock files, troubleshooting 269
leave payments 126
locking periods 254
letters
mail merge 218
personalized 218
logos
adding to forms 214
changing size on forms 214
See also pictures
liabilities
accounts for tracking 26
payroll, paying 132
liability accounts 26
licenses, obtaining extra 262
line items on transactions
entering for purchases 94
entering for sales 72
inserting blank lines between 75
96
showing subtotal of 75 96
using headers to group 75 96
lines
change the width on forms 215
drawing on forms 215
linked accounts
electronic payment accounts 46
for items received 98
for purchases 98
lists
adding records to 175
deleting records from 180
inactivating records in 179
searching 178
INDEX
M
Mail Merge button 79
mailing labels, printing 206 220
Match Transaction window 67
MBS. See MYOB Business Services
(MBS)
MDD. See MYOB Direct Deposit
(MDD)
merchant registration, applying
for 44
Microsoft Outlook contacts.
See synchronizing cards and
Outlook contacts
Microsoft Windows
2000
access a shared folder on 284
Vista
access a shared folder on 284
share a folder on 281
user account control
restrictions 23
XP
access a shared folder on 284
minimum stock levels 151
MMAS. See MYOB Merchant
Account Service (MMAS)
money
See receiving money
See spending money
month-end
accuracy of records,
checking 248–251
entering budgets 241
locking periods 254
paying payroll taxes 254
reconcile bank accounts 251
record depreciation 253
review reports 251
running the Company Data
Auditor 248–251
send customer statements 252
monthly budgets 243
mouse shortcuts 17
multiple currencies
accounts for tracking
foreign purchases 169
foreign sales 169
adding a new foreign
currency 168
currency calculator 171
depositing foreign currencies 174
exchange accounts 169
exchange rates 171
I Deal in Multiple Currencies
preference 168
setting up 168
tracking gains and losses 172
tracking realized currency gains or
losses 172
transfer money to foreign
accounts 173
multi-user mode
company file sharing 279
file locking 270
improving performance 272
obtaining additional licenses 262
refreshing displayed data 272
See also network
See also single-user mode
MVP. See MYOB Vendor Payments
(MVP)
MYOB Business Services (MBS)
activating 44
applying for 44
checking accounts, selecting 44
learning about 44
overview 44
registering 44
restrictions on 43
MYOB Direct Deposit (MDD)
activating 45
applying for 44
approval status 130
bank details
changing 128
entering 46 121
checking account for electronic
withdrawals 46
declined status 130
resubmitting failed
payments 130
electronic withdrawals
identifying checking account
for 46
learning about 44
paying employees, using 130
registering 44
setting up 45
MYOB eFile 48
multiple locations 154
305
MYOB Merchant Account Service
(MMAS)
activating 45
applying for 44
credit card sales 60
learning about 44
printing credit card payment
receipts 83
receiving payments 82
registering 44
voiding a credit card payment 64
MYOB Payroll Tax Forms
paying taxes using 254
registering 47
setting up 47
updating 48
W2 forms
electronically filing at
year-end 258
MYOB Vendor Payments (MVP)
activating 45
applying for 44
approval status 106
bank details, entering 46
checking account for electronic
withdrawals 46
declined status 106
resubmitting failed
payments 106
electronic payments
grouping in the Electronic
Clearing Account 106
processing 54
electronic withdrawals
identifying checking account
for 46
learning about 44
paying vendors, using 106
pending payments,
processing 106
recording payments 54
registering 44
306
setting up 45
updating vendors’ cards for 46
47
N
online banking, importing
statements 66
pay history for employees,
viewing 134
Online Error Notification
window 130
resubmitting failed payments
MDD 130
MVP 106
Pay History section 134
online help 12
navigation shortcuts 14
network
company file located in a shared
folder 279
file locking
multi-user mode 270
single-user mode 270
hardware required 280
how preferences work on 269
improving performance 272
shared company files
factors affecting how they
work 269
setting up 280
shared public folder
setting up 281 282
storing custom reports on 271
system requirements 280
See also shared public folder
New Time Billing window 146
new year
starting a new fiscal year 256
starting new payroll year 258
opening balances
accounts 29
items 42
jobs 238
optimizing company files 268
orders 71
changing
an order to a bill 101
several orders to bills at
once 101
several orders to invoices 79
to an invoice 78
purchase orders, entering 93
Outlook contacts.
See synchronizing cards and
Outlook contacts
overdue invoices
creating collection letters using
OfficeLink 79
viewing list of 79
See also credit terms
P
O
OfficeLink
collection letters, creating 79
personalized letters, creating 218
passwords. See administrator
account, user accounts
Pay Liabilities window 132
pay stubs
emailing 132
printing 131
payables See accounts payable
paychecks
previewing details 125
printing 129 206
prior year reports 134
See also payroll
paying bills, sending payment
notifications 105
paying employees 123–132
See also payroll
payment method default
employee 121
payment notifications
emailing 206
previewing 54 105
printing 206
sending in a batch 54
payments
electronic
setting up MYOB Merchant
Account Service (MMAS)
using MYOB Merchant Account
Service (MMAS) 60
exporting 273
importing 275
making 53 54 104
receiving 49 54 81
recurring 189
Pay Bills window 104
Pay Employee window 126
INDEX
payroll
accrual balances 135
activity slips
including in employee
pays 125
analyzing 136
automatically adjusting base pay
details for leave 113
categories 111–116
earnings, printing 131
employee information,
entering 118
liability payments 132
pay history, reviewing 133
pay stubs 131
emailing 132
printing 131
paychecks
prior year reports 134
printing paychecks 129
processing pays 123–132
removing employees from 124
reports 258
reviewing 133–136
setting up 111
using the Payroll Easy Setup
Assistant 37
taxes 112
loading tax tables 37
timesheets
changing details during pay
run 125
excluding from a pay run 125
verifying details 125
payroll categories
accrual
creating 111
linked wages category 114
base hourly
automatically adjusting for leave
payments 113
INDEX
base salary
automatically adjusting for leave
payments 113
calculated value 120
changing 113–116
creating 111–116
deleting 180
editing 117
finding 178
reviewing 37
Payroll Category List window 112
117
payroll checks. See paychecks
Payroll Details tab 118
payroll liabilities
clearing 132
paying 132
electronically 133
using MYOB Payroll Tax
Forms 254
reconciling at month-end 250
reconciling at year-end 250
reviewing 136
payroll taxes 37
paying 254
using MYOB Payroll Tax Forms
service 254
using Payroll Liabilities
window 132
payroll year
starting new year 258
when to close 257
year-end tasks 257
PDF. See Portable Document Format
(PDF) file
pending purchases. See purchases
pending sales. See orders
periods
closing 254
locking 248 254
personalized letters
creating 218
printing 206
petty cash
accounts, allocating expenses
to 57
expenses, tracking 57
replenishing 57
pictures
adding to
cards 231
forms 214
changing size of on forms 216
removing 232
replacing 232
Portable Document Format (PDF)
file
saving purchases as 96
saving reports as 196
saving sales as 75
preferences
Allow the Sale of Items with
Insufficient On-Hand
Quantities 78
Allow the sale of items with
insufficient on-hand
quantities 77
Apply Customer Payments
Automatically to Oldest
Invoice First 89
how they work on a network 269
I Deal in Multiple Currencies 31
I Prefer to Use Automated Online
Company File
Confirmation 24
I Use Timesheets for ... and My
Week Starts on ... 121
Prevent Data Changes During
Report Generation 271
Prompt for Data Backup When
Closing 265
system-wide preferences 269
time billing 138
Transactions CAN’T be Changed;
They Must be Reversed 31
188
Use Audit Trail Tracking 31 243
Use Standard Cost as the Default
Price on Purchase Orders and
Bills 152
Warn if Customer has an
Outstanding Credit Before
Applying Payment 84
Prepare Bank Deposit
window 187
Prepare Budgets window 241
Prepare Electronic Payments
window 106 130
previewing
checks 54 103
pay details 125
payment notifications 54 103
purchase forms 96
sales forms 75
price levels
assigning to customer 163
creating custom 162
prices
average cost of an item 152
last cost of an item 152
quantity breaks 163
setting 161
standard cost of an item 151 152
printing
checks 54 105 206
end-of-year forms 257
forms 206
invoices 75
in a batch 207
pay stubs 131
payment notifications 206
in a batch 207
purchases
in a batch 207
receipts 83
statements 197 252
307
prior year paychecks
reports 134
problems, troubleshooting 12
Process Payments window 129
Process Payroll window 123
public folder. See network
purchase activity, viewing 184
purchase orders 93
creating from a sale 100
entering from sales window 93
purchases 74
additional information about,
entering 95
applying a vendor debit to an
unpaid purchase 108
assigning job to 95
changing credit terms when
recording 94
changing status of 101
choosing type of 94
creating a debit 107
credit card 59
credit terms, entering 94
customizing form layout 210
deleting 187
emailing 96 206
in a batch 206
entering 93
exporting 273
faxing 96
from overseas vendors. See
multiple currencies
grouping MVP payments in
electronic clearing
account 106
headers, adding 96
history, viewing 103
importing 275
inserting blank lines in 96
line items on, entering 94
orders 93
308
paying 103
payment notifications 206
pending MVP payments,
processing 106
previewing 96
printing
custom lists of 164
in a batch 206
purchase orders 206
purchase activity, viewing 184
quotes 93
receiving items without a bill 97
recording 93
in the Bank Register window 54
recurring 96 189
reports 103
reversing 107
reviewing purchase
information 102
saving as PDF 96
sending 206
spell check 18
subtotals, adding 97
type of, choosing 94
viewing list of unpaid
purchases 102 160
See also MYOB Vendor Payments
(MVP)
purchases history 102
Purchases Register window
finding transactions 184
viewing purchases 102
Purchases window 93 96
showing subtotal of line items 97
using headers to group line
items 96
purging data 268
Q
QIF files, importing 277
quantity breaks, inventory 163
quarterly budgets 243
Quicken files, importing 277
quotes
changing
to orders or bills 101
to orders or invoices 78
customer 71
vendor 93
R
rates, setting time billing 139
realized gains and losses, tracking
sales and purchases 172
transfers 172
exporting transactions 273
grouping with undeposited
funds 82
credit card 82
MMAS credit card 82
importing transactions 275
invoice payments 81
receipts 83
recording in the Bank Register
window 54
receiving payments. See receiving
money
reconciled transactions,
deleting 187
reconciling
linked inventory 249
out of balance amounts,
correcting 65
payables 249
receivables 249
Record Journal Entry window 256
adjustments, manual 256
receipts
printing 83
MMAS credit card
payments 83
records
active 179
adding 175
using Easy-Add 176
changing 179
deleting 180 187
inactivating 179
reactivating 179
receivables See sales
rectangles, drawing on forms 215
Receive Money window 50
recurring transactions
automatically recording 190
changing 192
checks 54
copying an existing
transaction 191
creating 189
deleting 192
deposits 50
duplicating 191
recapping transactions 53
Receive Payments window 82
receiving items, without a vendor
bill 97
receiving money 49 54
cash payments 49
check payments 49
credit card payments 49
customer payments 81
definition of 49
INDEX
printing 195 202
when several users active 271
purchase reports 103
reviewing at month-end 251
sales reports 80
saving as
comma-separated values (CSV)
files 196
HTML files 196
PDF files 196
simple text files 196
tab-delimited values files 196
saving custom 202
sending 196
using custom lists as filters 164
viewing in Microsoft Excel 197
editing 192
finding 186
pre-dated 190
purchases 96
recording 189
multiple 193
rescheduling 192
responding to reminders for 193
sales 74
saving 191
saving a payment as 54
scheduling 190
setting reminders for 190
refreshing lists in a multi-user
environment 272
refund check, receiving 108
refund payment 89
Reports menu (command
centers) 15
refunds. See customer credits;
vendor debits
residence code, entering for an
employee 118
registration. See activation of
company files
restoring a backup 263 265
Reminders window 190 193
reports
adding fields to 201
batches 198
changing 198
creating 198
deleting 198
printing 197
changing fonts on 202
columns, moving and
resizing 195
custom reports 202
storing on a network 271
customizing 199
designing 201
emailing 196
faxing 196
filtering information appearing
on 199
filtering using wildcards 200
INDEX
returns. See customer credits; vendor
debits
reversing transactions 188
voiding MMAS credit card
payments 64
rounding time in time billing 138
S
sales
analyzing 80
analyzing activity 80
assigning tax code to a sale 73 95
changing status of 78
choosing type of 72
creating purchase orders from 74
deleting 187
emailing 75 206
in a batch 206 207
entering 60 71
exporting 273
faxing 75
history, viewing for item, customer
or employee 80
importing 275
income account for tracking
sales 150
insufficient on-hand item
quantities 76
invoice 71
layout 72
MMAS credit card receipts 83
orders 72
printing 75
in a batch 206 207
quote 71
recording in the Bank Register
window 54
recording with insufficient item
quantities 76
recurring 74 189
reports 80
reversing 87
reviewing information about 79
reviewing unpaid 79
saving as a PDF file 75
spell check 18
to overseas customers. See multiple
currencies
viewing list of unpaid sales 79
voiding MMAS credit card
payments 64
See also MYOB Merchant Account
Service (MMAS)
Sales command center 71
Sales Register window
finding transactions using 184
viewing and editing sales in 184
Sales window 75
sample company, exploring
the 13
search icons 16
Select & Edit Paychecks
window 125
select columns 16
Select Employees to Pay
window 124
serial number
entering into company files
while activating by
telephone 25
while activating over the
Internet 25
Set Item Prices window 161
Settle Returns & Credits
window 89
Settle Returns & Debits
window 108
shared public folder
accessing from workstations 284
setting up on host 281
See also company files; host
computer; network
shortcuts
keyboard 17
mouse 17
shortcuts, making shortcuts to the
company file 285
single-user mode
file locking 270
when required 270
See also multi-user mode
social security number, entering
for an employee 118
spell check 18
Spend Money window 53
309
spending money 52 104
bill payments 103
definition 52
electronic payments 106
exporting transactions 273
importing transactions 275
petty cash 57
sending payment notifications 54
transactions
recording 52
Split button 55
standard cost 151
starting a new fiscal year 255
starting a new payroll year 257
statements 67
customizing 210
emailing 253
importing 54 66
printing 197 252
itemized invoice details 252
253
reconciling
out of balance amounts,
correcting 65
sending at month-end 252
stock. See inventory; items
sub-jobs 237
subtotal, showing in
transactions 75 96
Synchronize Cards window 226
synchronizing cards and Outlook
contacts
export cards to Outlook
contacts 226
import Outlook contacts to
cards 228
including custom fields 225 227
when you use a PDA 226 227
system requirements
host computer 280
network 280
310
T
tabs, using in lists 178
Tax Code Information
window 177
tax codes
assigning to
purchases 95
sales 73
changing 179 186
consolidating 177
creating 177
deleting 180
exporting 273
setting up 176
tax tables, loading 37
taxes
change amount assigned to
purchases 95
sales 73
paying using the Pay Liabilities
window 132
text fields
adding to forms 214
changing font characteristics
of 214
changing size of on forms 216
description of 210 213
thirteen accounting periods 22
time billing
activities
creating 140
definition 140
deleting 180
finding 178
activity slips
creating 142
including in employee
pays 125
multiple 144
single 142
adjusting accounts to reflect work
in progress 148
changing 179
entering a start time before current
system time 143
including items on invoices 138
invoices 146 147
preferences 138
rounding time 138
setting billing rates for
activities 139
timer 143 –144
resetting 144
using special billing units 138
work in progress 148
timesheets
changing details during pay
run 125
deleting 123
employee
entering timesheets for 122
entering details 122
excluding from a pay run 125
including in a pay run 125
paying employees from 125
report 125
setting up 121
time billing information,
entering 121
unpaid hours
clearing 123
deleting 123
reporting 125
Transaction Journal window 186
transactions
adding from bank or credit card
statement 67
changing 186 187
creating recurring 189
deleting 186 187
finding 15 183–186
identifying user who entered 261
importing 275
from bank or credit card
statement 67
Pay Bills transactions 275
matching during statement
importing 67
recapping 53
recurring 191
reversing 188
types that can be imported 275
unchangeable 187 188
Transactions CAN’T be Changed;
They Must be Reversed
preference 188
transfer inventory. See building
items
Transfer Money window 56
transferring money 56
troubleshooting problems 12
U
To Do List
making vendor payments
from 102 105
unchangeable transactions 187
188
To Do List menu (command
centers) 15
uncleared transactions,
matching 67
tool palette 210 213
INDEX
undeposited funds
deleting transactions 180 187
grouping
cash transactions with 82
payments 82
preparing bank deposit of 51
Undo Last Reconciliation
window 66
Use Recurring button 192
user accounts
creating 262
listing active users 270
managing 261
maximum licensed number
reached 271
passwords 262
purpose of 261
restricting access to windows and
functions 262
See also administrator account
user IDs. See user accounts
V
vendor debits
creating 107
deleting 186
recording 107
refund checks 108
settling 108
vendor number, entering default
for an item 151
vendors
bank information for 46 47
billing rates, setting 139
bills
entering 93
paying 103
payment notifications 103
cards, creating 91
credit terms, changing when
recording a purchase 94
debits
deleting 186
recording 107
refund checks 108
settling 108
discounts
early payment 105
volume 95
entering discounts 105
grouping MVP payments in the
Electronic Clearing
Account 106
orders 93
paying 52 103
several bills at once 105
payment notifications 103
pending MVP payments,
processing 106
purchase history, viewing 103
purchases 93
quotes 93
receiving items without a bill 97
recording order received from 93
resubmitting failed MVP
payments 106
updating cards for MVP 46 47
who are also customers 90
See also MYOB Vendor Payments
(MVP)
View Contact Log window 221
voiding checks 58
volume discounts
giving 73
receiving 95
W
wages
cash wages, creating a transaction
to record 131
definition 111
payroll categories
changing 113
creating 111
deleting 180
See also payroll, employees
Wages Information window 113
withdrawals, ATM 58
work code, entering for an
employee 118
work in progress
adjusting accounts to reflect 148
tracking 148
workstations
accessing shared public folder
from 284
extra licenses, obtaining 262
See also host computer, network
Y
year
fiscal 255
payroll 258
starting new fiscal year 256
starting new payroll year 258
year-end
entering budgets 241
fiscal
adjustments, entering 255
optimizing company file 257
providing information to your
accountant 255
reconciling accounts 249
reconciling inventory 255
starting new year 256
tasks 255
payroll
1099 statements, printing for
vendors 258
printing reports 258
printing tax forms 257
starting new year 258
tasks 257
year-end tasks
adjustments in 13th period 22
yearly budgets 243
Z
zoom arrows 16
verify company file 248 267
INDEX
311
312
INDEX
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