MYOB Accounting and MYOB Accounting Plus 2008: User Guide

MYOB Accounting and MYOB Accounting Plus 2008: User Guide
User Guide
Accounting 2008
Accounting Plus 2008
Serial number
Technical support
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Information supplied by the member companies of the MYOB group (whether in
user documentation and other literature, video or audio material, training courses,
websites, advice given by staff, or provided by other means) is intended only to
illustrate general principles, and may not be complete, accurate or free of error. As
accounting standards, taxation requirements, legislation and the circumstances of
individual businesses vary widely, this information cannot be considered
authoritative and may not apply to your specific situation. You should obtain
competent advice from a qualified accounting, taxation, information-technology or
legal professional before acting on such information. To the extent permitted by
law, member companies of the MYOB group are not liable for any special,
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data resulting from your application of such information. In the event that any of the
above limitations are found to be unenforceable, the MYOB member company's
liability is limited to the return of any fees or monies paid for the purchase of the
product or service.
2
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MYOB®, MYOB Accounting™, MYOB Accounting Plus™, MYOB AccountEdge™,
MYOB AccountEdge Plus™, MYOB BusinessBasics™, MYOB ODBC
DeveloperPack™, MYOB ODBC Direct™, MYOB RetailBasics™, Accounting Plus™,
BusinessBasics™, ODBC DeveloperPack™, ODBC Direct™ and RetailBasics™ are
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Writers
Suchitra Govindarajan, Naomi Hall, Merrin Hughes, Claire Mahoney, Rachael
Mullins, Kylie Nicholson, Steven Rao, Mirjana Sicevic, Ron Tierney, John Wilson.
MYOB Licence Agreement
IMPORTANT–READ THIS CAREFULLY BEFORE USE. This is the Software Licence
Agreement (Agreement). As you have purchased the Product (consisting of the User
Documentation and the installation CD or other media containing the Software),
following notification of the Licence you are now legally bound by its conditions.
HOWEVER, if the Licence Agreement contains anything of which you were not
aware prior to purchasing the Product or do not agree to be bound by, DO NOT
INSTALL THE SOFTWARE but return the Product to the reseller in its entirety and a
full refund of the purchase price will be made. By installing the Software and
keeping the Product you are confirming that you have purchased the Product
subject to this Licence and are bound by its provisions.
TRIAL VERSION SOFTWARE LIMITATION. If you use this Software on a trial basis
prior to purchase, then additional restrictions govern its use. The Trial Version is
intended to be used only for evaluation purposes and whilst you may create your
own company data files (“Company Files”) you will have access to your Company
Files only for a period of 30 days from the date of creation of each Company File.
Thereafter, you will be able to access the Company Files created by you only upon
your purchase of the full version of the Software product licence. Upon your
purchase of the full version of the Software product licence, the restrictions in this
paragraph (Trial Version Software Limitation) shall no longer apply, but you
acknowledge that your use of the full version of the Software product licence will be
conditioned on your agreeing to the terms of the Software Licence Agreement
accompanying the full version of the Software product licence.
1
Scope of Licence
MYOB Technology Pty Ltd (the Publisher), through its local publishers and
distribution agents, hereby grants to you, the original purchaser, a paid-up,
personal, non-exclusive and non-transferable Licence to use the Software and
the User Documentation only in the region, territory or country specified on
the packaging, or in the United Kingdom and Eire, subject to the terms and
conditions of this Agreement.
a Activation You must register the Software and activate the company files
you create with MYOB. You may only access each company file you create
for 30 days without registering the Software and activating the file. After 30
days the company file will become read-only until you register and activate
the company file. You are entitled to activate up to 30 company files. If
required, you can obtain additional activations by contacting MYOB UK Ltd.
b Number of Users If you have purchased:
i) a Single User Software Licence then you may use the Software on only one
computer that you own or operate at a single physical location in respect
of company files you have activated. You may transfer the Software from
one such computer to another that you own or operate provided that
you do not use or permit the usage of the Software on more than one
computer or computer terminal at a time. In the event of an upgrade or
Product exchange the Licence hereby granted shall automatically
transfer to the new version or Products.
ii) a Multi-User Software Licence then you may use the Software on only one
computer network that you own or operate at a single physical location
and only then in respect of company files created and activated by you
or by another licensed user. You may transfer the Software from one
computer to another that you own or operate on this network provided
that you do not use or permit the usage of the Software on more than
the licensed number of computers or computer terminals at a time, nor
permit the usage of the Software on more than one network at any one
time, nor permit the Software to be used in respect of company files that
you have not activated or have not been created by you or by another
licensed user.
c Updates and Upgrades In the event of an upgrade, update or product
exchange, the Licence hereby granted shall automatically transfer to the
new version or product. All rights in respect of the original Product shall
lapse and no further use of these shall be permitted.
d Portable or Home Computer and Archive Copies You may make a copy of
the Software and install it on either a portable computer or a computer
located in your home provided that the copy is for your own exclusive use
and is not operated simultaneously with the original of the Software.
Otherwise you may not copy or duplicate the Software, except as necessary
solely for archival purposes, Software error verification, or to replace
defective storage media, provided you keep the original and the copies. You
may not alter, decompile or disassemble the Software. You may make copies
of the User Documentation up to but not exceeding the number of
multi-user Licences you have purchased.
e Transfers You may not sub-license, lease, rent or lend the Software or the
User Documentation or otherwise transfer any of your rights under this
Agreement. Subject to the prior written consent of the Publisher and the
agreement of the transferee to be bound by the terms of this Agreement,
you may permanently transfer the Software (together with any backup
copies you have made) and the User Documentation. However, you may
not retain any copies of either the Software or the User Documentation.
3
Term The Licence granted in this Agreement is effective until terminated.
You may terminate it at any time by destroying the Software and User
Documentation, together with all copies, or by returning them to the
Publisher. If you fail to comply with any term or condition of this Agreement,
this Licence will terminate and, upon any such termination, you agree to
destroy the Software and User Documentation, together with all copies, or
to return them to the Publisher. Termination of this Licence shall be in
addition to and not in lieu of any other remedies available to the Publisher.
If during the <<SET WRRNTY DAYS IN HOST>>-day limited warranty period,
you discover physical defects in the media on which the Software was recorded
or in the User Documentation, the Publisher will replace them at no charge to
you, provided you return the item to be replaced with proof of purchase to the
Publisher. THIS IS YOUR SOLE REMEDY. IN NO EVENT WILL THE PUBLISHER BE
LIABLE TO ANY PERSON FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL,
CONSEQUENTIAL OR SIMILAR DAMAGES, EVEN IF THE PUBLISHER HAS BEEN
ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
g Protection and Security You agree to use your best endeavours and to take
all reasonable steps to safeguard the Software to ensure that no
unauthorised person has access to the Product and that there is no
unauthorised copying or distribution of the Software or User
Documentation.
Some jurisdictions do not allow the exclusion or limitation of implied warranties
or of liability for incidental or consequential damages, so the above limitations
or exclusions may not apply to you. This warranty gives you specific legal rights
and you may also have other rights that vary from jurisdiction to jurisdiction. In
the event that any of the above limitations or exclusions are held to be
unenforceable, the Publisher’s total liability shall not exceed the amount of the
Licence fee you paid.
f
2
Limited Warranty & Disclaimer
The Publisher warrants that the media on which the Software is recorded and
the User Documentation provided with it are free from defects in materials and
workmanship under normal use for a period of <<SET WRRNTY DAYS IN
HOST>> days from the date of your original purchase. Except for the limited
warranty described above, the Software is sold ‘as is’, and you are assuming the
entire risk as to its quality and performance. It is your responsibility to verify the
results obtained from the use of the Software.
4
3
Entire Agreement
This Licence constitutes the entire agreement between the Publisher and the
Licensee and any prior representations, statement or undertaking howsoever
made are expressly cancelled. No amendment or modification to this Licence
shall be valid unless it shall be in writing and signed by an authorised
representative of the Publisher
.
CONTENTS
Contents
1 Introduction ............................................................ 9
5 Sales ....................................................................... 59
Learning about your MYOB software ....................................... 9
Where to start........................................................................ 11
Exploring your MYOB software .............................................. 12
Creating a customer card....................................................... 59
Entering sales......................................................................... 61
Recording sales with insufficient on-hand item quantities....... 65
Changing the status of a sale ................................................. 67
Reviewing your sales information ........................................... 68
Receiving payments ............................................................... 70
Printing payment receipts ...................................................... 72
Credit control ........................................................................ 73
Customer credits.................................................................... 76
Dealing with a supplier who is also a customer ...................... 79
Accounting for bad debts....................................................... 79
2 Setting up your company file ............................... 19
Overview ............................................................................... 19
Create a company file ............................................................ 20
Activate the company file....................................................... 22
Set up accounts ..................................................................... 24
Enter account opening balances ............................................ 27
Set up preferences ................................................................. 29
Set a password for the Administrator user ID.......................... 30
6 Purchases ............................................................... 81
3 Advanced setup..................................................... 31
Creating a supplier card ......................................................... 81
Entering purchases................................................................. 83
Receiving items without a supplier invoice ............................. 88
Creating a purchase order from a sale.................................... 90
Changing the status of a purchase ......................................... 91
Reviewing your purchase information .................................... 92
Paying suppliers ..................................................................... 94
Supplier debits ....................................................................... 96
Adding finance charges paid to suppliers ............................... 98
Overview ............................................................................... 31
Set up sales............................................................................ 33
Set up purchases.................................................................... 34
Set up payroll ........................................................................ 35
Do an initial bank reconciliation ............................................. 36
Create item records ............................................................... 39
Enter stock opening balances................................................. 40
4 Banking.................................................................. 43
7 Paying your employees ......................................... 99
Receiving money ................................................................... 43
Preparing a bank deposit ....................................................... 45
Spending money ................................................................... 46
Entering transactions in the Bank Register window................. 49
Transferring money between accounts................................... 50
Tracking petty cash expenses................................................. 51
Reconciling your bank accounts ............................................. 52
Importing statements ............................................................ 55
Recording miscellaneous transactions .................................... 56
Credit card transactions ......................................................... 57
Analysing your cash flow........................................................ 58
Payroll setup tasks.................................................................. 99
Creating payroll categories................................................... 100
Creating employee cards ..................................................... 105
Entering employee payroll information ................................ 105
Timesheets........................................................................... 108
Processing your payroll ........................................................ 110
Payroll liabilities ................................................................... 119
Processing termination payments......................................... 120
Reviewing payroll information.............................................. 123
5
8 Billing for time .................................................... 125
13 Transactions......................................................... 179
About the time billing feature .............................................. 125
Setting time billing preferences............................................ 126
Setting billing rates .............................................................. 127
Creating activities ................................................................ 128
Creating activity slips ........................................................... 130
Reviewing and changing activity slips .................................. 133
Creating time billing invoices............................................... 134
Work in progress.................................................................. 136
Finding a transaction ........................................................... 179
Changing or deleting a transaction ...................................... 183
Reversing a transaction ........................................................ 184
Recurring transactions.......................................................... 185
9 Stock .................................................................... 137
Creating items ..................................................................... 137
Making stock adjustments ................................................... 140
Multiple stock locations ....................................................... 142
Building items...................................................................... 143
Count stock ......................................................................... 146
Reviewing your stock information ........................................ 147
Setting item prices ............................................................... 149
Customising stock................................................................ 150
10 International transactions................................... 153
About the multiple-currency feature .................................... 153
Setting up multiple currencies ............................................. 154
Exchange rates .................................................................... 157
Tracking currency gains and losses....................................... 158
Miscellaneous transactions ................................................... 160
11 Reporting VAT ..................................................... 163
6
14 Reports................................................................. 191
Producing reports ................................................................ 191
Printing report batches ........................................................ 193
Customising reports............................................................. 195
15 Forms ................................................................... 201
Finding forms....................................................................... 202
Sending forms ..................................................................... 203
Customising forms ............................................................... 206
Adding and editing elements ............................................... 209
16 Contact management.......................................... 213
Creating a card .................................................................... 213
Keeping in touch with your contacts.................................... 214
Grouping your contacts ....................................................... 219
Synchronising MYOB cards with
Microsoft Outlook contacts................................................ 221
Customising cards................................................................ 227
Reviewing your contact information..................................... 229
17 Financial control .................................................. 231
Setting up VAT codes........................................................... 163
VAT reports.......................................................................... 165
EC sales ............................................................................... 166
EC purchases ....................................................................... 168
Tracking financial information.............................................. 231
Tracking reimbursable expenses........................................... 235
Budgets ............................................................................... 237
Auditing your records .......................................................... 240
Reviewing financial information ........................................... 241
12 Lists...................................................................... 171
18 End-of-period procedures ................................... 243
Adding a record................................................................... 171
Finding a record .................................................................. 172
Changing a record............................................................... 173
Inactivating or reactivating a record..................................... 174
Deleting a record ................................................................. 174
Combining records .............................................................. 175
Month-end procedures ........................................................ 244
Starting a new financial year ................................................ 251
Starting a new payroll year................................................... 254
19 Managing user accounts and company files ...... 257
Managing user accounts ...................................................... 257
Backing up and restoring company files ............................... 259
Confirming activated company files ..................................... 262
Servicing your company file ................................................. 264
Special considerations for networked company files ............. 267
A Importing and exporting data ........................... 271
Exporting data ..................................................................... 271
Importing data .................................................................... 272
Importing data from MYOB RetailBasics ............................... 273
B Networking company files .................................. 277
Preparing company files for multiple users ........................... 277
Setting up the network hardware......................................... 278
Setting up a company file folder on a Windows host............ 278
Accessing the shared company file from a workstation......... 282
Glossary .................................................................... 285
Index......................................................................... 293
7
8
Introduction
In this user guide, the term MYOB software refers to both MYOB Accounting and MYOB Accounting Plus. Note that some sections of the user
guide apply only to MYOB Accounting Plus, such as Payroll.
Before you begin using MYOB software, take some time to explore the software and find out about the basic features of navigation and
transaction entry. This chapter provides an overview of your software and describes the tools, resources and primary features.
Learning 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 10), 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 software is accompanied by
comprehensive information resources to help you learn and to
provide support as you set up records and enter transactions.
The User Guide is available as a PDF (Portable Document Format)
file on the installation CD. Note that you need a PDF reader to
view a PDF file. If you don’t have one, you can install Adobe
Reader from the installation CD.
Manuals
This guide is intended for use with MYOB Accounting 2008 and
MYOB Accounting Plus 2008 on the Windows operating system.
New users of MYOB software receive:
Getting Started guide The Getting Started guide provides
information on how to install your MYOB software, how to create
and activate your company file as well as new features in your
MYOB software.
If you purchased MYOB Accounting, some of the features in
MYOB Accounting Plus described in this guide—for example,
Time Billing—will not be relevant to you. You can simply skip
these sections.
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.
9
INTRODUCTION
1
To access the PDF files
1
Insert the installation CD.
2
On the installation window that appears, click Resources.
3
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
•
•
•
Online help
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.
Online help is a comprehensive online resource that
complements the user guide by addressing all functions and
features of your MYOB software, including those used
infrequently. It also includes helpful information for solving
common bookkeeping problems.
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.
To display online help
Search the Help
learn how to search the help for key words and
phrases.
„
In any window, press the F1 key.
„
In any window—other than command centre windows—click
Help (
) and choose Help for This Window.
„
Choose MYOB Help from the Help menu.
Online help in MYOB windows
Opening online help from any window—other than command
centre windows—displays descriptions or procedures relevant to
that window. Click Help (
) and choose Help for This
Window, Tell Me How, Tips & Troubleshooting or Search the
Help.
10
CHAPTER 1
INTRODUCTION
Command centre help
The main windows in your MYOB software are known as
command centres. A help icon ( ) appears in the top right corner
of each command centre window. For more information, see
‘Command centres’ on page 12.
When you click the help icon, the online help displays a
description of the command centre and its various functions.
Other resources
In addition to online help, you can also access various web-based
resources. Go to the Help menu and select Additional Resources
on the Web to display the available resources. For example, you
can access a database of frequently asked questions or view a
directory of MYOB Certified Consultants.
Where to start
When you start your MYOB software, a welcome window
displays the following options:
„
Open your company file—open your company file once it
has been created.
„
Create a new company file—create a company file for your
business. See ‘Setting up your company file’ on page 19.
„
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.
„
Exit—close your MYOB software.
WHERE TO START
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
two sample company files:
„
Widgets Ltd. This file contains sample data for you to
experiment with. You can add, change and remove data, as
well as view and print reports.
„
Tutorial. This file contains data for the online tutorial
designed to teach you how to use your MYOB software.
11
To explore the Widgets company file
To work through the tutorial
™ In the Welcome to MYOB Accounting window, click
Explore the sample company. A command centre window
appears.
1
Start your MYOB software. A welcome window appears.
2
Click Open your company file. The Open window appears.
3
Locate the Tutorial folder in your software installation folder,
then select the tutorial.myo file and click Open.
4
Open the tutorial PDF which is located in your software
installation folder. For example, if you are using MYOB
Accounting v17, go to the Start menu and choose
Programs, then MYOB Accounting v17, and then select
MYOB Accounting v17 Tutorial PDF. Follow the steps in the
tutorial. You can read the tutorial on screen or print it out.
A command centre window always appears on your computer
screen when a company file is open. Notice that the name of the
sample company, Widgets Ltd., appears at the top of the
window.
Now that the Widgets Ltd. company file is open, you can browse
through the software, explore the transactions that have already
been entered and enter some transactions yourself.
Exploring your MYOB software
You should become familiar with the following tools and aids:
12
Tool
See
Command centres
below
Calendar (date entry)
page 13
Business calendar
page 13
Calculator
page 14
Zoom arrows
page 14
Search icons
page 14
Select columns
page 15
Mouse shortcuts
page 15
Shortcut keys
page 15
Default screen font
page 16
Spell-check feature
page 16
Command centres
There are six command centres in MYOB Accounting, and eight
in MYOB Accounting Plus, which includes the Payroll and Time
Billing command centres. The following is an illustration of the
Sales command centre in MYOB Accounting Plus.
CHAPTER 1
INTRODUCTION
Each command centre contains a row of icons in the top section
of the window. These icons allow you to quickly switch between
command centres.
The highlighted icon represents the current command centre,
and the flowchart displayed below the icons illustrates the major
tasks associated with that command centre. (For example, when
the Sales icon is highlighted, tasks such as Enter Sales and
Print/Email Statements—typical tasks you would complete in
relation to sales—appear in the command centre’s flowchart.)
enter it manually, display the calendar in the Promised Date field
and click the required 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.
You can use the arrow icons next
to the month to display a
different month.
There are four menus at the bottom of each command centre.
The options available from these menus are described below.
Select...
If you want to...
To Do List
record and manage tasks that need your
attention, such as paying invoices to take
advantage of early-payment discounts, or
restocking items when stocks are low.
Find
Transactions
view summary information about your accounts,
sales, purchases, cards, items, paycheques and
jobs.
Reports
view a list of the available reports.
Analysis
analyse a number of key aspects of your business.
There are two ways of selecting a menu option:
„
Click the menu name to display the window relevant to the
command centre you are in.
„
Click the arrow ( ) next to the menu name and select from a
list of the available options for all command centres (not just
the command centre you are currently in).
The current date
appears in a red box.
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, as well as holidays and important
business events.
As well as being a handy reference, the business calendar affects
the Contact Alert function in the To Do list. If you set a reminder
to call a customer on a day that your business is indicated in the
business calendar as being closed, the reminder will appear in the
To Do List window on the business day before the task is due.
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.
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
EXPLORING YOUR MYOB SOFTWARE
13
To set up your business calendar
1
Go to the Setup menu and choose Business Calendar. The
Business Calendar window appears.
The current month is displayed in the calendar at the top of
the window. Days that appear in grey are days when your
business is closed.
2
If you want to mark a specific day as closed, click the date in
the calendar.
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.
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 pop-up 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 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. Press ESC to close the
calculator without entering numeric data.
14
Zoom arrows
Zoom arrows, displayed next to various fields, allow you to
display more detailed information about a specific entry such as a
transaction or customer record.
A white zoom arrow ( ) indicates that you can display more
detailed information about a transaction and make changes to or
delete the transaction.
A grey zoom arrow ( ) allows you to display more detailed
information about a transaction, but the information is read-only
(that is, it cannot be changed). If you want to change the
information, you can reverse the transaction and re-enter it (see
‘Reversing a transaction’ on page 184). Alternatively, you can
change your security preference selection to make all
transactions changeable (see ‘Set up preferences’ on page 29).
Search icons
Search icons ( ) displayed next to various fields allow you to
open selection lists containing records that you have previously
entered, such as customers and delivery methods, or records
provided by default.
CHAPTER 1
INTRODUCTION
Select columns
Menu
Select columns allow you to select items from a list. Select
columns are indicated by a select icon
located at the top of the
list column. You select a required item by clicking in the select
column next to it. You can select all listed items by clicking the
select icon at the top of the list column, and clear all selected
items by clicking the select icon again.
Mouse shortcuts
You can right-click in a window to open a shortcut menu with
options relevant to the window and to the location of the pointer.
Command Centres
(All)
Command Centres
> Accounts
Command Centres
> 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.
Command Centres
> Sales
Menu
Command
Shortcut keys
File
New (Company File)
CTRL+N
Open
CTRL+O
Close Window
Esc
Print
CTRL+P
Command Centres
> Time Billing
[MYOB
Accounting Plus
only]
Undo
CTRL+Z or
ALT+BACKSPACE
Command Centres
> Purchases
Edit
EXPLORING YOUR MYOB SOFTWARE
Command
Shortcut keys
Cut
CTRL+X or
SHIFT+DELETE
Copy
CTRL+C or
CTRL+INSERT
Paste:
CTRL+V or
SHIFT+INSERT
Select All:
CTRL+A
Select from List
CTRL+L
Recap Transaction
CTRL+R
To Do List
CTRL+T
Find Transactions
CTRL+Y
Command Centre
CTRL+1
Record Journal Entry
CTRL+G
Bank Register
CTRL+K
Command Centre
CTRL+2
Spend Money
CTRL+H
Receive Money
CTRL+D
Command Centre
CTRL+3
Enter Invoices
CTRL+J
Receive Payments
CTRL+B
Command Centre
CTRL+4
Command Centre
CTRL+5
15
Menu
Command
Shortcut keys
Enter Purchases
CTRL+E
Pay Bills
CTRL+ M
Command Centres
> Payroll [MYOB
Accounting Plus
only]
Command Centre
CTRL+6
Command Centres
> Stock Control
Command Centre
Command Centres
> Card File
CTRL+7
Command Centre
CTRL+8
Cards List
CTRL+F
Reports
Index to Reports
CTRL+I
Window
Refresh All
F5
Help
MYOB Help
F1
We also support the following shortcut key combinations:
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.
Spell-check feature
When entering sale, purchase or item information, you can check
your spelling in the following fields:
CTRL+F4
Window
Field
Next Window
CTRL+F6 or CTRL+TAB
Sales
•
Cycle Task
ALT+TAB or ALT+ESC
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.
16
1
Close Window
Default screen font
CAUTION :
To change the default screen font
•
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).
You can choose to set a preference to automatically check
spelling or manually check spelling.
You can also customise your spelling preferences. For example,
you can change the main dictionary language and choose a
preference to ignore words that include numbers.
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 customise 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.
EXPLORING YOUR MYOB SOFTWARE
17
18
CHAPTER 1
INTRODUCTION
2
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 one before you can
begin recording transactions.
Overview
When you create a company file, you record basic information
about your business, such as the business name and your contact
details. You must also specify the month and financial year in
which you want to start recording transactions.
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.
Task
See
1
Create a company file
page 20
2
Activate the company file
page 22
3
Set up accounts
page 24
4
Enter account opening balances
page 27
5
Set up preferences
page 29
6
Set a password for the Administrator user ID
page 30
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 stock
features), you will need to do further setup tasks. These tasks are
covered in Chapter 3, ’Advanced setup,’ starting on page 31.
OVERVIEW
19
Create a company file
When you make entries in your software, that information is
stored in a file called a company file.
The default list of
accounts that you
want to start with
You can create a company file using the New Company File
Assistant. This assistant is a series of interactive windows that
guide you through the process of creating a new company file.
Do you already have a company file? If your accountant
or MYOB consultant has provided you with a company file, or if you
want to use a file that you created with a test drive version of this
software, you don’t need to create a company file.
NOTE :
Before you start, you need to know:
Your current
financial year
The last month of
your financial year
This is the month in which your financial 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
financial year
20
This is the financial year for which you want to
start recording transactions in your company file.
Note that a financial year is represented by the
calendar year in which the financial year ends.
For example, if your financial year ends in June
2008, your financial year is 2008.
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.
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 Certified Consultant.
• build your own list. You can start with an
accounts list that has the minimum accounts
required by your MYOB software and then
add to it.
Note that you can modify your accounts list after
creating your company file.
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 the
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 financial year details and conversion month.
Current financial year Remember that this is the
financial year for which you want to start recording transactions
in your company file. It does not need to be the financial year
that your business is currently operating in.
TIP :
CHAPTER 2
SETTING UP YOUR COMPANY FILE
11
7
Click Next. A confirmation page appears.
8
Check the financial year and conversion month and then click
Next. The Accounts List page appears.
9
Select the 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 your 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 Company File page reappears.
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 Centre to display the Command Centre
window.
21
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 262.
Activating after purchasing additional workstation
licences When you purchase your MYOB software, the licence
allows one user to access a company file during the trial period. If
you extend your licence to support additional simultaneous
users, you must activate your company file again. See also ‘To
activate your company file for additional workstation licences
[MYOB Accounting Plus only]’ on page 259.
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.
Automatic confirmation If you want, you can set a
preference to automatically confirm an activated company file over
the Internet when required.
NOTE :
Activation limits You can initially activate up to five company
files. If you need to create more than five company files (for
example, yours is a bookkeeping business looking after many
clients), you can obtain licence extensions to activate as many
additional company files as required. Contact MYOB Customer
Service if you need a licence extension. Each additional licence
extension allows you to activate a further five files.
22
CHAPTER 2
SETTING UP YOUR COMPANY FILE
To activate a company file
1
3
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
2
The Company File Activation window appears.
Note that you can not use this code to activate
another company file nor can you use this code to
confirm an activated company file.
ACTIVATE THE COMPANY FILE
4
Follow the on-screen instructions until the Command Centre
window appears.
5
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 3 above.
23
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.
Classification
Type
Description
Asset
(1-xxxx)
Bank
Money in the bank, for example,
in a cheque 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
suppliers.
Other Current
Liability
Money owed by you that is due in
less than a year, for example, GST.
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.
Capital
The business’s net worth, that is,
its assets minus its liabilities.
Common capital accounts are
current year earnings, retained
earnings and shareholders’
capital.
The accounts you use for your business are grouped in an
accounts list.
Do you need to complete this task? If your accountant or
MYOB Certified Consultant has provided you with a company file,
this task may have been completed for you. In this case, go to ‘Enter
account opening balances’, on page 27.
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 272.
Liability
(2-xxxx)
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, Capital,
Income, Cost of Sales, Expenses, Other Income and Other
Expenses. Within each account classification there is at least one
account type.
Capital
(3-xxxx)
Account classifications and types are described in the following
table.
24
CHAPTER 2
SETTING UP YOUR COMPANY FILE
Classification
Type
Description
Income
(4-xxxx)
Income
Revenue from the sale of goods
and services.
Cost of Sales
(5-xxxx)
Cost of Sales
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 revenue, for example,
interest earned on savings and
dividends paid from shares.
Other Expense
(9-xxxx)
Other
Expense
The direct cost of selling your
goods and providing services, for
example, purchase costs and
freight charges.
Other expenses, for example,
interest charged.
Header and detail accounts Your accounts list consists of
detail accounts (the accounts to which you allocate transactions)
and header accounts. Header accounts group related detail
accounts to help you organise your accounts list.
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 26
Delete an account
page 174
Change the details of an account
page 173
Group detail accounts with a header account
page 27
Import an accounts list
page 272
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.
You group accounts by indenting the detail accounts located
directly below a header account.
Header accounts
Detail accounts
SET UP ACCOUNTS
25
To create an account
1
Go to the Accounts command centre and click Accounts
List. The Accounts List window appears.
2
Click New. The Edit Accounts window appears.
3
4
26
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 Vat 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 capital 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 24.
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.
12
[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.
CHAPTER 2
SETTING UP YOUR COMPANY FILE
13
[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.
To group detail accounts with a header account
You group accounts by indenting the accounts located below a
header account.
1
Go to the Accounts command centre and click Accounts List.
The Accounts List window appears.
2
Select the detail account you want to group.
3
Click the Down button at the bottom of the window to group
the account with the header located above it.
For more information, see ‘Budgets’ on page 237.
14
Click OK when you have finished. The account now appears
in your accounts list.
Enter account opening balances
opening balances of your income, cost of sales and expense
accounts should be zero.
Account opening balances are the balances of your accounts as at
the first day of your conversion month.
Do you need to complete this task? If you were in
business prior to your conversion month, most of your accounts
probably already have balances. If you want to produce financial
reports that included these balances (such as a balance sheet), or
you want to track the balance of accounts with a cumulative balance
(such as your bank account), you need to enter these balances.
NOTE :
„
Opening bank account balances You can enter the following
amounts as the opening balance of a bank account:
„
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.
„
is the first month of your financial year, enter the opening
balances of your asset, liability and capital accounts only. The
ENTER ACCOUNT OPENING BALANCES
the bank account balance that appears on your balance sheet
or trial balance reports as at the day prior to your conversion
date. For example, if your conversion date is 1 January 2008,
this is the bank account balance as at 31 December 2007.
These reports can be provided by your accountant, or, if you
were previously using another accounting software, printed
using that software.
You may also be able to find your account opening balances
using your previous accounting software or paper-based records.
The balances you enter depend on whether your conversion
month is also the first month of your financial year. If your
conversion month:
is not the first month of your financial year (for example, if
your financial year starts in July but your conversion month is
September), enter the opening balances of all your accounts.
„
the cashbook balance of the account as at the end of the day
prior to your conversion date. You can calculate your
cashbook balance by taking into account the transactions not
yet cleared by your bank as at the conversion date and the
balance that appears on your bank statement at that date.
27
For example, assume that £500 worth of deposits and £1000
worth of payments were unpresented as at your conversion
date (that is, they had not appeared on a bank statement).
The cashbook balance would be calculated as shown below:
Bank statement balance as at the conversion date
£21,000.00
ADD uncleared deposits
+ £500.00
SUBTRACT uncleared payments
– £1,000.00
Cashbook balance as at the conversion date
£20,500.00
To enter opening balances
1
2
Go to the Setup menu, choose Balances and then Account
Opening Balances. The Account Opening Balances
window appears.
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.
This amount will be assigned to a special capital account
called Historical Balancing.
Enter the balances in the Opening Balance column.
You should 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 :
4
28
Check that the amount in the Amount left to be allocated
field at the bottom of the window shows £0.00.
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 240.
„
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 184.
„
I Deal in Multiple Currencies [MYOB Accounting Plus
only] If you want to enable multi-currency accounting, select
this option. For more information about working with
multiple currencies, see ‘International transactions’ on
page 153.
Do you need to complete this task? While you can
complete this step later, you should review the default preferences
that have been set before you start entering transactions.
NOTE :
You can set preferences to customise the way your software
operates. For example, you can choose to automatically print
invoices after recording them, or prevent users from editing
transactions.
You can set up your preferences using the:
„
Customise Easy Setup Assistant. This assistant guides you
through the process of setting up some key preferences. To
access the assistant, go to the Setup menu, choose Easy
Setup Assistant and then click Customise.
„
Preferences window. This window lists all of the preferences
available in your MYOB software. To view this window, go to
the Setup menu and choose Preferences.
SET UP PREFERENCES
29
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 and 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 access to all command centres, functions and
windows and will be able to create, edit and delete other user
IDs.
For that reason, as soon as you create a company file, you should
assign a password to the Administrator user ID; otherwise,
anyone can sign on and then enter, edit and delete transactions
in your file.
To set a password for the Administrator user ID
30
1
Start your MYOB software and, in the welcome window, click
Open your company file.
2
In the Open window, select the company file to be opened,
and click Open. The Sign-on window appears.
3
Click Change Password.
NOTE : Access restrictions If you want to restrict other users from
accessing certain features or information, you can create additional
user IDs and specify their access restrictions. For more information,
see ‘Managing user accounts’ on page 257.
CHAPTER 2
SETTING UP YOUR COMPANY FILE
Advanced setup
When you have created a company file and completed the essential setup tasks (see page 20), you can start recording transactions in your
company file. However, if you want to use the advanced features of your software (such as tracking amounts you owe or the quantity of items
sold), you need to complete additional setup tasks. This chapter details the additional tasks.
Overview
The setup tasks you need to complete depend on the features
you want to use and whether your business was operating prior
to your conversion month.
Your needs
Setup required
Intermediate
If you want to track the money that you owe
suppliers or that is owed to you by customers, you
will need to use the Purchases and Sales command
centres.
Before you can use these command centres, you
need to complete the sales and purchases setup
tasks in this chapter.
Advanced
If you want to track the on-hand quantity and value
of items you buy and sell, you need to create records
to store the details of your items. You do this using
the Stock Control command centre.
Also, when you buy and sell an item, you will need to
record details about each transaction (such as who
you purchased the items from, how many you
purchased and the price). You do this using the
Sales and Purchases command centres. Hence, you
need to complete the sales and purchases setup
tasks in this chapter.
What features do you want to use?
The following table provides some examples of different setup
requirements.
Your needs
Setup required
Basic
If you only want to use your software to fulfil basic
accounting requirements (such as reporting tax
payable or producing 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 36).
31
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
32
Setup required
If you have just started your business, you may have very
little information about your future customers, suppliers,
employees and items that you buy or sell. You can add
these details later when you have more information.
However, if you intend to use 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. Read the introduction to each
task to determine whether you need to do the task and what
information you will need.
Task
See
1
Set up sales
page 33
2
Set up purchases
page 34
3
Set up payroll [MYOB Accounting Plus only]
page 35
4
Do an initial bank reconciliation
page 36
5
Create item records
page 39
6
Enter stock opening balances
page 40
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 use the Sales
Easy Setup Assistant to 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
Customise forms
Change the appearance of the
default invoice and statement
forms.
page 206
Import cards
Import customer information from:
• another MYOB company file
• another accounting system
• a spreadsheet
• a text file.
page 272
„
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 details such as their addresses and
phone numbers.
Synchronise
customer records
with Outlook
Synchronise your customer records
with your contact records in
Microsoft Outlook.
page 221
„
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 outstanding.
Create job
records
Create job records to track the
progress and profitability of the
work you do for your clients.
page 233
Group cards
Use identifiers and custom lists to
group the cards of customers who
have similar attributes.
page 219
To access the Sales Easy Setup 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 be automatically selected for records you create for your
customers, and you can change them as required.
SET UP SALES
33
Set up purchases
You can use the purchases features to:
„
record quotes, orders and bills
„
view your purchase history
„
see what you owe your suppliers.
Do you need to do this task? If you want to record the
orders and purchases you make with suppliers and track the
amounts you owe, you need to set up the purchases features.
NOTE :
Before you start using the purchases features, you should use the
Purchases Easy Setup Assistant to enter the following
information:
„
Supplier details Create a card record for each of your
suppliers and enter such details as their addresses and phone
numbers.
„
Historical purchases [Existing businesses only] If you had
outstanding bills on the first day of your conversion month,
you will need to record some details about them, such as
outstanding bill amounts and the credit terms.
To access the Purchases Easy Setup Assistant, go to the Setup
menu, choose Easy Setup Assistant and then click Purchases.
Optional purchases setup tasks
In addition to the Purchases Easy Setup Assistant tasks, you
may also want to do the following tasks if they are relevant to
your business.
Task
See
Customise
forms
Change the appearance of the
default purchase orders and other
forms.
page 206
Import cards
Import supplier information from:
• another MYOB company file
• another accounting system
• a spreadsheet
• a text file.
page 272
Synchronise
supplier records
with Outlook
Synchronise your supplier records
with your contact records in
Microsoft Outlook.
page 221
Group cards
Use identifiers and custom lists to
group the cards of suppliers who
have similar attributes.
page 219
You can also use the Purchases Easy Setup Assistant to choose
your usual payment method for paying bills, your preferred
purchase order layout and several other settings that will help
you record purchases faster. These settings will automatically
apply to cards you create for your suppliers, and you can change
them as required.
34
CHAPTER 3
ADVANCED SETUP
Set up payroll
Payroll is only available in MYOB Accounting Plus.
„
You use the payroll feature to:
„
process pays for your employees
„
track employee entitlements (such as sick and holiday leave)
„
pay accrued payroll liabilities
„
print payslips and paycheques
„
prepare Payroll Tax Forms.
Do you need to do this task? If you want to process
employee pays, track amounts you owe to HMRC and process P14
and P35 forms you need to set up the payroll features.
NOTE :
Before you start using the payroll features, you need to use the
Payroll Easy Setup Assistant to:
„
Load tax tables PAYE Income Tax and NI Employee
Contributions are amounts that are calculated and deducted
from employee pays according to the rules established by HM
Revenue & Customs. 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 and the number of hours in your normal working
week.
SET UP PAYROLL
Review payroll categories The components of an
employee’s pay, such as wages, entitlements and taxes, are
called payroll categories. These are assigned to an employee’s
card to calculate their standard pay.
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 details such as their addresses and
payroll information.
„
Enter pay history [Existing businesses only] If you have
already paid the employee in the current payroll year, you
should enter the amounts you have paid your employees.
These amounts appear on P14 and P35 forms and reports not
derived from payroll activity (such as register reports). They
are not recorded as transactions in your accounts.
To access the Payroll Easy Setup Assistant, go to the Setup
menu, choose Easy Setup Assistant and then click Payroll. For
more information on creating payroll categories and entering
employee payroll information, see ‘Creating payroll categories’
on page 100 and ‘Entering employee payroll information’ on
page 105.
35
Optional payroll setup tasks
Task
In addition to the Payroll Easy Setup Assistant tasks, you may
also want to do the following tasks if they are relevant to your
business.
Task
Set up
timesheets
Customise
forms
See
Import cards
Import employee information from:
• another MYOB company file
• another accounting system
• a spreadsheet
• a text file.
page 272
Synchronise
employees
records with
Outlook
Synchronise your employees records
with your contact records in Microsoft
Outlook.
page 221
Group cards
Use identifiers and custom lists to
group the cards of employee who have
similar attributes.
page 219
See
Use timesheets to record all the hours
worked by hourly employees or to
record extra hours worked by
employees that are paid based on a
standard pay. If you pay employees for
time-billing activities, you can also
enter activity details on timesheets and
use these details to create activity slips.
page 108
Change the appearance of the default
payslip and paycheque forms.
page 206
Do an initial bank reconciliation
To check the accuracy of your business records, you should check
that the record of your bank account balances matches the
amounts on your bank statements. This task is called reconciling
accounts.
If your business traded prior to your conversion month and you
have uncleared banking transactions as at the first day of your
conversion month, you need to do an initial bank reconciliation.
Uncleared banking transactions are withdrawals and deposits
that have not been cleared by your bank as at the start of your
conversion month.
36
NOTE : Do you need to complete this task? The initial bank
reconciliation procedure needs to be done for each bank account
that had uncleared transactions as at the first day of your conversion
month.
To do an initial bank reconciliation:
Task
See
1
Identify uncleared withdrawals and deposits
page 37
2
Record uncleared withdrawals and deposits
page 37
3
Reconcile
page 38
CHAPTER 3
ADVANCED SETUP
Task 1: Identify uncleared withdrawals
and deposits
6
In the Acct No field, type or select the bank account you want
to reconcile. This must be the account entered in step 2
above.
Compare your banking source information (such as your
chequebook and deposit book) with your bank statements for
the period that includes your conversion date. If you find
transactions that have not been cleared by your bank as at this
date, you will need to record the details of these transactions in
your company file.
7
In the VAT field, select the N-T tax code.
8
Enter details of the withdrawal in the Memo field.
9
Click Record.
10
Repeat from step 3 above for each uncleared withdrawal.
For example, in December 2006, the month prior to your
conversion month, you wrote a cheque for £1,000 and deposited
£500 you received from a customer. If these transactions did not
appear on your December bank statement, you need to record
both transactions in your company file.
Task 2: Record uncleared withdrawals
and deposits
You need to record uncleared transactions in such a way that the
opening bank account balance is not affected. To do this, you
need to post a debit and a credit of equal amounts for each
transaction against the applicable bank account.
To enter uncleared withdrawals
1
Go to the Banking command centre and click Spend Money.
The Spend Money window appears.
2
In the Account field, type or select the bank account you
want to reconcile.
3
In the Cheque No. field, enter a reference number for the
withdrawal.
4
In the Date field, type the first day of your conversion month.
For example, if your conversion month is January 2007, enter
01/01/07.
5
In the Amount field, type the amount of the withdrawal.
DO AN INITIAL BANK RECONCILIATION
To enter uncleared deposits
1
Go to the Banking command centre and click Receive
Money. The Receive Money window appears.
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 2007, enter
01/01/07.
4
In the Amount Received field, type the amount of the
deposit.
5
In the Acct No. field, type or select the bank account you
want to reconcile. This must be the account entered in step 2
above.
37
6
In the VAT field, select the N-T tax code.
7
Enter details of the deposit in the Memo field.
8
Click Record.
9
Repeat from step 3 above for each uncleared deposit.
Task 3: Reconcile
To reconcile the account
38
1
Go to the Banking command centre and click Reconcile
Accounts. The Reconcile Accounts window appears.
2
In the Account field, select the bank account you want to
reconcile.
3
In the New Statement Balance field, enter the closing bank
balance as at the day prior to your conversion month (for
example, the closing balance as at 31/12/2006).
4
In the Bank Statement Date field, enter the first date of your
conversion month. (For example, if your conversion month is
January 2007, enter 01/01/07.) Your uncleared transactions
appear.
When you recorded uncleared transactions, the same
account was debited and credited with the same amount.
Therefore, an uncleared transaction appears as both a deposit
and a withdrawal.
5
For each uncleared withdrawal, click the select column next
to the deposit.
6
For each uncleared deposit, click the select column next to
the withdrawal. When each uncleared transaction is selected,
£0.00 appears in the Out of Balance field.
7
Click Reconcile. A confirmation window appears.
„ To print a report, click Print Report. When the report is
printed, click Reconcile.
„ To reconcile without printing a report, click Reconcile.
„ To change any details you entered in the Reconcile
Accounts window, click Cancel.
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 stock 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 labour and
material charges on the same invoice.
™ For information about creating item records, see ‘To create an
item’, on page 138.
CREATE ITEM RECORDS
Task
See
Import items
Import item information from:
• another MYOB company file
• another accounting system
• a spreadsheet
• a text file.
page 272
Set up pricing
levels [MYOB
Accounting
Plus only]
Customise item pricing according to
customer status and sales quantities.
page 150
Create
locations
[MYOB
Accounting
Plus only]
If you hold stock at several locations,
you can keep track of item quantities
held at each location.
page 142
Group items
using custom
lists [MYOB
Accounting
Plus only]
Group and sort items by assigning
attributes to your items from custom
lists you define.
page 151
Create custom
fields [MYOB
Accounting
Plus only]
Set up fields to record additional
information about your stock items.
page 152
39
Enter stock opening balances
If you had items on hand as at the first day of your conversion
month, and you want to track on-hand quantities and values of
these items, you need to enter your stock opening balances.
Before you enter your opening stock balances, you need a
stocktake of the actual items in your stock. To help you do this,
you can print the Stock Count Sheet report, which lists all your
inventoried items, and manually record quantities on it.
To print the stock count sheet
1
Go to the Stock Control command centre and click Count
Stock. The Count Stock window appears.
2
Click Print. The Stock Count Sheet report is printed with a
list of all your items.
3
5
Record your on-hand quantities on this sheet.
To enter opening on-hand stock and values
1
40
Go to the Stock Control command centre and click Count
Stock. The Count Stock window appears with a list of your
stock items.
2
[MYOB Accounting Plus only] If you store your items at
several locations, select the method you want to use to group
your items. You can group items by item number or by
location.
3
[MYOB Accounting Plus only] 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
difference between the On Hand column and the Counted
column.
When you have entered all your item quantities, click Adjust
Stock. The Adjustment Information window appears
advising you to provide a default adjustment (expense)
account.
Note that when you are entering opening on-hand balances,
you don’t need to enter a default expense account.
6
Click Continue. The window that appears depends on
whether you have entered an opening balance for your stock
asset account (see ‘To enter opening balances’ on page 28).
„ If you entered a stock opening balance, the Adjust Stock
window appears.
„ If you did not enter a stock opening balance, the Opening
Balance Check window appears. Click Opening Balances
and then click Adjust Balances. The Adjust Stock window
appears.
The Adjust Stock window displays a line for each item whose
opening quantity you entered in the Count Stock 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 stock asset account, or, if you have
CHAPTER 3
ADVANCED SETUP
not entered an opening balance for your stock asset account,
your historical balancing account.
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 6 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
stock item status. For more information on printing reports,
see ‘Reports’ on page 191.
7
Enter any changes to the default entries in the Stock Journal
Number, Date and Memo fields.
ENTER STOCK OPENING BALANCES
41
42
CHAPTER 3
ADVANCED SETUP
Banking
BANKING
4
This chapter shows you how to record the cheques you have written, the cheques and credit card payments you have received, your credit card
transactions and your cash machine and Internet banking withdrawals and transfers.
You can record the details of any number of bank and credit card accounts. If you are familiar with a manual multi-column cashbook system, you
can think of your MYOB software as having the capacity to run many cashbooks with an infinite number of columns.
Receiving money
In 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 it to more than one account. This is the
procedure covered in this section. If you want to use the Bank
Register window—which lets you record a receipt with
minimum details—see ‘To enter a transaction in the Bank Register
window’ on page 49.
If you want to enter a payment received from a supplier for a sale,
you will need to enter it using the Receive Payments window or
by selecting the Pay Purchase transaction type in the Bank
Register window. For more information, see ‘Receiving
payments’ on page 70.
The options for recording receipts and invoice payments are
summarised in the following diagram.
43
Printing payment receipts You can print payment receipts for
payments entered in the Receive Money and Bank Register
windows. For more information about printing payment receipts,
see ‘Printing payment receipts’ on page 72.
7
If you want to record the payment method:
a In the Payment Method field, select the payment method.
b If you want to record additional details about the payment,
such as a cheque number, click Details and record the
details in the Applied Payment Details window that
appears.
8
Type a description in the Memo field to help you identify the
payment later.
9
Allocate the amount to the appropriate account or distribute
it to a number of accounts.
To record money you receive
1
Go to the Banking command centre and click Receive
Money. The Receive Money window appears.
A
2
44
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
‘Preparing a bank deposit’ on page 45.
3
If the deposit amount included VAT, select the VAT Inclusive
option.
4
In the Payor field, type or select the payor’s name.
5
In the Amount Received field, enter the amount received.
6
Type the date of the transaction.
B
C
D
E
A
Type or select an account to which you want to assign the
payment or part of the payment.
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.
E
The VAT code that is linked to the allocation account appears
here automatically. You can change it or delete it if necessary.
10
If you want to view or change the VAT amounts assigned to
the transaction, click the zoom arrow ( ).
11
If you want to assign the transaction to a particular category,
select a category from the list.
For more information about categories, see ‘Categories’ on
page 232.
CHAPTER 4
BANKING
12
If you want to store the deposit 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 185.
13
Click Record.
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 the transaction.
Preparing a bank deposit
When you receive payments that you want to deposit in a batch
(such as credit card, cash and cheque payments), you need to
post the payments to a temporary holding account until you
create a bank deposit. This holding account is known as an
Undeposited Funds account.
You can post a customer payment to the Undeposited Funds
account by selecting the Group with Undeposited Funds
option in the Receive Money window or Receive Payments
window when recording a payment.
If you want to select or deselect all receipts, click the (
at the top of the Deposit column.
) icon
When you make bank deposit in a batch, funds are transferred
from the Undeposited Funds account to the account of your
choice as a single transaction.
To prepare a bank deposit
1
Go to the Banking command centre and click Prepare Bank
Deposit. The Prepare Bank Deposit window appears.
2
In the Deposit to Account field, enter the account into which
the funds selected in the Prepare Bank Deposit window will
be deposited.
3
If you want to group receipts by payment method:
a In the Select Receipts by field, select Payment Method.
b In the adjacent field that appears, type or select one or
more payment types. (For credit cards, select one or more
credit card types.) Only payments made using that
method are listed.
PREPARING A BANK DEPOSIT
45
7
[Optional] If you need to enter an adjustment
transaction—for example, to record credit card transaction
fees—click Deposit Adjustment. The Bank and Deposit
Adjustments window appears.
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 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
The term spending money refers specifically to recording
payments for transactions for which purchases have not been
created. These include capital drawings, bank charges, telephone
bills and so on. These types of payment can be entered in the
Spend Money window or by selecting the Spend Money
transaction type in the Bank Register window.
The Spend Money window lets you record more details about
the payment and allocate the payment to more than one
account. This is the procedure covered in this section. If you want
to use the Bank Register window—which lets you record a
payment with minimum details—see ‘To enter a transaction in
the Bank Register window’ on page 49.
46
If you want to make a payment to a supplier for a purchase, you
will need to enter the payment using the Pay Suppliers window
or by selecting the Pay Purchase transaction type in the Bank
Register window. For more information, see ‘Paying suppliers’
on page 94.
The options for recording payments are summarised in the
following table.
CHAPTER 4
BANKING
To record money you spend
1
Go to the Banking command centre and click Spend Money.
The Spend Money window appears.
2
In the Account field, type or select the bank account that will
be used to pay this cheque.
3
If you want the amount to be VAT inclusive, select the VAT
Inclusive option.
Make your selection now Don’t select or deselect the
VAT Inclusive option after you enter an amount in the Amount
field.
NOTE :
SPENDING MONEY
4
Complete the details in the cheque area of the window, just
as you would if you were writing a paper cheque.
5
If you want to change the default payee address, type or
select the payee’s address in the Payee field.
47
6
Allocate the payment to an account.
A
B
C
Complete the payment
D
E
A
Type or select the account to which you want to assign the
cheque amount.
B
Type the allocation amount.
C
[Optional] Enter a job code to assign the cheque amount to a
job.
D
[Optional] Type a memo for each line item you enter in the
transaction.
E
The VAT code that is linked to the allocation account appears
here automatically. You change or delete it if necessary.
7
If you want to view or change the VAT amounts assigned to
the transaction, click the zoom arrow ( ).
8
If your payment covers more than one account, repeat from
step 6. You would do this, for example, when paying for the
purchase of a number of different items: postage, magazines,
stationery, etc.
9
If you want to assign the payment to a particular category,
select a category from the Category list. For more
information about categories, see ‘Categories’ on page 232.
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 185.
TIP :
10
If you are paying by cheque and have already written a
cheque, select the Cheque Already Printed option.
11
If you want to send remittance advice in a batch, select an
option from the Remittance Advice Delivery Status list.
After you have recorded a number of payments, say, the day’s
payments, you can print or email remittance advices in a
batch. For more information, see ‘Sending forms’ on
page 203.
12
If you want to preview the remittance advice or cheque for
this transaction, click Print and then choose Preview Cheque
or Preview Remittance Advice. Note that the transaction is
recorded before it is displayed.
13
If you want to print a cheque or remittance advice now, click
Print and select the form type you want to print. Note that
the payment is recorded before it is printed.
14
Click Record.
TIP : Recap transaction Before you record this transaction,
you can use the recap transaction feature to view the journal
entries that will be created when the transaction is recorded.
This is useful for confirming that the journal entries are being
posted to the correct accounts. To recap, choose Recap
Transaction from the Edit menu.
48
CHAPTER 4
BANKING
Entering transactions in the Bank Register window
You can record the following transactions in the Bank Register
window: cheques, deposits, payments to suppliers, payments
from customers, sales and purchases.
The Bank Register window provides a fast and convenient way
to enter multiple transactions. For example, you can record a
customer payment, pay for a purchase and then write a cheque
without having to open multiple windows and switch between
them. As transactions can be recorded with minimum detail, you
save time when entering a batch of transactions.
You cannot print or email remittance advices directly
from the Bank Register window If you want to print or email
remittance advices directly, use the Pay Suppliers or Spend Money
window.
NOTE :
Importing your online bank and credit card statements
You can also use the Bank Register window to import your bank
and credit card statements. If a statement contains any
transactions that you have not entered, you can add them
quickly in the Bank Register window. For more information, see
‘Importing statements’ on page 55.
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 Purchase, Spend Money or Enter
Purchase from the Type list, enter a cheque number (or
other transaction reference) in the Cheque No field.
„ If you select Receive Payment, Receive Money or Enter
Sale from the Type list, enter a transaction reference in the
adjacent ID No 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, enter the total amount of the
transaction, including VAT.
8
If you want to allocate the amount to only one account, select
an account in the Account field.
To enter a transaction in the Bank Register window
1
Go to the Banking command centre and click Bank Register.
The Bank Register window appears.
ENTERING TRANSACTIONS IN THE BANK REGISTER WINDOW
49
9
If you want to allocate the amount to more than one
allocation account, click Split. The corresponding transaction
window will appear, and you can then allocate the amount to
multiple accounts of your choice.
You can also use Split to:
„ apply payments to a particular invoice or purchase
„ enter the payment method
„ print the transaction.
11
[Optional] Assign the payment to a job by entering the job
code in the Job field. Note that this is not applicable for Pay
Purchase and Receive Payment transactions.
12
[Optional] If you want to record the purpose of the
transaction, type a description in the Memo field.
13
If you want to store the transaction as a recurring transaction,
click Save as Recurring. In the Edit Recurring Schedule
window, enter the recurring transaction details and click
Save.
When the Split option is not available If the
transaction type is Enter Sale or Enter Purchase, the Split
option is not available. To open the transaction window, you
need to record the transaction, then click the zoom arrow ( )
next to the transaction in the Bank Register window.
NOTE :
10
If you are entering a sale or a purchase, select the appropriate
VAT code in the VAT field.
(Note that this option is available only for Spend Money and
Receive Money transactions.)
For more information about saving and using recurring
transactions, see ‘Recurring transactions’ on page 185.
14
Click Record.
2
Enter a date for the transfer.
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.
To transfer money between accounts
1
50
Go to the Accounts command centre and click Transfer
Money. The Transfer Money window appears.
CHAPTER 4
BANKING
3
In the Transfer Money From field, type or select the account
from which the funds will be transferred.
4
In the Transfer Money To field, type or select the account
into 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.
Saving as a recurring transaction If you want to store
the transaction as a recurring transaction, click Save as
Recurring. Enter details of the recurring transaction in the Edit
Recurring Schedule window and click Save. For more
information about recurring transactions, see ‘Recurring
transactions’ on page 185.
TIP :
8
Click Record.
4
Enter the amount you are transferring in the Amount field
and click Record.
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.
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 ‘Setting up accounts’ on page 25.
To transfer money to your petty cash account
1
Go to the Accounts command centre and click Transfer
Money. The Transfer Money window appears.
2
In the Transfer Money From field, type or select the account
from which you are transferring money.
3
In the Transfer Money To field, type or select the petty cash
account.
To allocate expenses to the petty cash account
Let’s assume you spent £10.00 on stationery and £30.00 on
postage from your petty cash float. You would record this
transaction in the following way.
TRACKING PETTY CASH EXPENSES
51
1
Go to the Banking command centre and click Spend Money.
2
In the Account field, type or select the Petty Cash account.
3
Enter the date and amount of the expense.
4
Enter the expenses as line items and allocate them to the
relevant expense account (in this example, the Office
Supplies account and the Postage account).
5
Since you do not need to print a cheque for this transaction,
select the Cheque Already Printed option.
6
Click Record.
1
Go to the Banking command centre and click Reconcile
Accounts. The Reconcile Accounts window appears.
2
In the Account field, type or select the account you want to
reconcile.
3
In the New Statement Balance field, type the closing
balance that appears on the statement your bank sent you.
4
In the Bank Statement Date field, type the closing date that
appears on your bank statement, and then press TAB. Only
unreconciled transactions dated on or before that date will
appear in the scrolling list.
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 MYOB software, see ‘Do an initial bank
reconciliation’ on page 36.
To reconcile your bank account
Reconciling bank accounts using the Company Data
Auditor If you are using the Company Data Auditor (see ‘Run the
Company Data Auditor’ on page 244), select the account you want
to reconcile in the Account Reconciliation Review window and
click Reconcile Accounts. Continue this procedure beginning with
step 3.
NOTE :
52
CHAPTER 4
BANKING
„
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 a few ideas as to why this may have
occurred. To correct the unreconciled amount, follow the
procedure below.
To correct an unreconciled amount
5
If you want to use Get Statement to import your bank
statement data, see ‘Importing statements’ on page 55.
6
For each entry on your bank statement, mark 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.
8
Click Reconcile. A window appears, indicating whether your
account is reconciled or out of balance.
„ If your account is reconciled, you can print the
Reconciliation report by clicking Print (recommended).
Once the report is printed, the Reconcile Accounts
window appears. Click Reconcile again to complete the
reconciliation process. If you don’t want to print the report,
simply click Reconcile. The transactions you marked are
considered cleared and won’t appear in the Reconcile
Accounts window the next time you display it.
RECONCILING YOUR BANK ACCOUNTS
1
Check the following:
„ Did you type the correct amount in the New Statement
Balance field? Note that you have to enter the closing
balance from your bank statement, not the opening
balance.
„ Did you type the correct date (corresponding to the
closing balance from your bank statement) in the Bank
Statement Date field? Note that an incorrect date may
prevent some transactions from appearing in the list.
„ Did you select all the transactions that appear on the bank
statement? If not, some transactions might not have been
accounted for in the reconciled balance.
„ Did you select, by mistake, a transaction that didn’t appear
on your bank statement? If yes, you need to deselect this
transaction.
„ Did you record all bank charges and bank interest entries
that appear on the bank statement? If not, you need to
record them and select them for reconciliation.
2
Repeat the reconciliation procedure ‘To reconcile your bank
account’ on page 52.
If your account is still out of balance, then you may have
deleted a transaction that has been reconciled previously.
53
Identifying deleted transactions using the Audit Trail
report If you 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.
To undo an account reconciliation
NOTE :
3
4
If you have deleted a previously reconciled transaction:
a Re-enter the transaction into your company file.
b Select it for reconciliation.
Repeat the reconciliation procedure.
NOTE : Back up before undoing reconciliation We recommend
that you back up your company file before you undo a
reconciliation. Then, if you want to reverse the undo reconciliation,
you can restore the backup file.
1
Go to the Banking command centre and click Reconcile
Accounts. The Reconcile Accounts window appears.
2
In the Account field, type or select the account for which you
want to undo the reconciliation.
3
Click 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.
Undoing an account reconciliation
If you have reconciled a transaction in error or deleted a
previously reconciled transaction, you can undo the previous
account reconciliation. When you undo a reconciliation, all
transactions for that period return to an unreconciled status.
If the error was made in a reconciliation earlier than your last
reconciliation, you can undo several reconciliation periods in
succession in your current financial year.
Note, when you undo an account reconciliation, you will need to
reconcile each transaction again and reprint your reconciliation
reports.
Purged transactions cannot be re-reconciled Do not
undo a reconciliation for a period containing purged transactions.
CAUTION :
54
CHAPTER 4
BANKING
Importing statements
If you have an online banking facility, you can use the Get
Statement feature to import bank statement or credit card
statement files.
This feature enables you to import transactions that you haven’t
recorded in your company file (e.g. bank fees). It also enables you
to use the imported transactions as part of your reconciliation
process. 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
the end of the month.
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 account fees and penalty charges applied by the bank.
Download your statement Before you 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 downloading
this file. The following file formats are supported: OFX, QFX, QIF
and OFC.
To import your statement
1
Go to the Banking command centre and click Bank Register.
The Bank Register window appears.
2
In the Account field, type or select the account that
corresponds to the bank or credit card statement.
IMPORTING STATEMENTS
3
Click Get Statement. The Open window appears.
4
Select the downloaded statement file and click Open. The
Get Statement window appears.
5
Click OK. The statement transactions are automatically
matched with the transactions in your company file by using
the cheque number and amount as the criteria for matching
payments and deposits. If:
„ there are unmatched transactions, the Unmatched
Statement Transactions window appears. Go to step 6.
„ all your transactions match, then these transactions will be
marked as cleared in the Reconcile Accounts window. You
can ignore the rest of this procedure.
6
Choose what you want to do with the unmatched
transactions.
„ If you want to match a transaction, select it 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. Repeat this step for each transaction
that you want to match.
„ If you want to add a transaction to your company file,
select it and click Add Transaction. The Spend Money
window or the Receive Money window (depending on the
type of transaction you are adding) appears. Enter the
details of the transaction and record it. The transaction is
shown as cleared. Repeat this step for each transaction you
want to add.
55
7
When you have finished matching and adding transactions,
click Done. A list of all the transactions that were cleared
appears.
To void a cheque
4
If you find that one of your cheque forms is damaged and not
usable for printing or that you have made a mistake when writing
the cheque manually, you may want to void a cheque.
Leave the Amount field and the account allocation fields
blank.
5
Click Record, then click OK to confirm that you want to void
the cheque.
Match or add all transactions We recommend you
finish adding or matching every transaction in the unmatched
transaction list before you click Done. Otherwise, if you re-open
the statement file, the original unmatched statement list would
appear in the Unmatched Statement Transactions window.
CAUTION :
Recording miscellaneous transactions
Follow the steps below to void a cheque that you have not
recorded in your MYOB software. If you want to make changes to
a cheque you have already recorded, see ‘Changing a
transaction’ on page 183.
56
1
Go to the Banking command centre and click Spend Money.
The Spend Money window appears.
2
Choose the cheque account from which you want to void the
cheque.
3
In the Cheque No field, type the number of the cheque you
want to void.
To record cash machine withdrawals
1
Go to the Banking command centre and click Spend Money.
The Spend Money window appears.
2
Select the account from which you withdrew money.
3
In the Cheque No field, enter a non-numeric word or phrase
to describe the withdrawal. That way you will know the
transaction isn’t an actual cheque when you view it in a list or
in a report. This will also allow you to skip the transaction
when you print a range of numbered cheques.
4
Complete the other fields in the window.
5
Click Record.
CHAPTER 4
BANKING
Credit card transactions
Before you start recording your credit card transactions, create a
liability account for each credit card you will use. Name the
accounts VISA, American Express, etc. These accounts will keep
track of the amount you owe to credit card providers. For
information on creating an account, see ‘To create an account’
on page 26.
For more information on recording payments, see:
„
‘Spending money’ on page 46
„
‘Entering transactions in the Bank Register window’ on
page 49
„
‘Paying suppliers’ on page 94.
Recording a payment for a credit card
purchase
Recording payments to credit card
providers
You record a payment for a credit card purchase by specifying the
credit card account in the Pay Suppliers, Spend Money or Bank
Register window.
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 liability account.
The method you use to record a payment for a credit card
purchase depends on whether you have entered the purchase
transaction using the Purchases window.
To record a payment to a credit card provider
„
If you have entered a purchase, then record the payment in
the Pay Suppliers window.
„
If you have not entered a purchase, record the credit card
purchase in the Spend Money or Bank Register window.
When you record the payment, the payment amount is assigned
to your credit card liability account.
CREDIT CARD TRANSACTIONS
1
Go to the Banking command centre and click Spend Money.
The Spend Money window appears.
2
In the 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
[Optional] 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, enter
the liability account you have created to track transactions for
this credit card.
8
Click Record.
57
Analysing your cash flow
You can use the Cash Flow Worksheet window to estimate your
short-term cash needs. This window allows you to use the
information you’ve entered to create a forecast of your bank
account or your credit card account.
2
Select the bank or credit card account that you want to
analyse from the Bank Account list.
3
Type the number of days for which you want to analyse your
cash needs in the Days To Look Ahead field and then press
ENTER.
You can change, add and delete information that appears in the
Cash Flow Worksheet window to better estimate your cash flow
needs.
The list in the middle of the window displays all the
transactions your company is due to perform during the time
period you specified. Any transactions that are overdue also
appear here.
Work in the Cash Flow Worksheet doesn’t affect your
company file Changes, deletions and additions you make in the
list are used for the purposes of the Cash Flow Worksheet window
only. The changes you make here won’t be reflected anywhere else
in your MYOB company file.
NOTE :
Information included on the Cash Flow Worksheet
information used to forecast cash needs includes:
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 contents of the
window.
NOTE :
The
„
all recorded transactions
„
paycheques, chequebook and nominal ledger 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.
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
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.
1
58
In any command centre, select Cash Flow from the Analysis
list. The Cash Flow Worksheet window appears.
Click Analyse Cash Needs.
The Cash Flow Worksheet window now lists the transactions
that appeared in the previous list with a running balance.
If you want to make changes to the listed transactions, click
Return to Worksheet, make your changes and then click
Analyse Cash Needs again.
The information used to forecast cash needs does not include
sales and purchases recurring transactions.
To review your cash flow
You can change any of the information that appears in the list
to better estimate your cash flow needs.
6
If you want to print the worksheet, click Print. If you want to
view the worksheet in Microsoft Excel, click Excel.
7
Click Cancel to close the Cash Flow Worksheet window.
CHAPTER 4
BANKING
Sales
SALES
5
This chapter explains how to enter information about the sale you make to your customers. You record a sale by specifying the customer’s details,
the invoice layout (item, service, professional, time billing or miscellaneous), the status of the sale (quote, order or invoice) and the details of the
items or services sold. The chapter also explains the various ways of sending an invoice, how to record customer payments, how to issue a
customer credit, and how to analyse sales activities with a variety of reports and other analytical tools.
Creating a customer card
Before you can record a sale, you need to create a card for your
customer.
To create a customer card
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click New. The Card Information window appears.
3
Select Customer from the Card Type list.
4
Select the designation of the card: company or individual.
5
Type the customer name and press TAB. Additional fields
appear.
6
Enter a code to identify this customer in the Card ID field. For
more information, see ‘Card identification codes’ on
page 227.
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.
59
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 228
assign identifiers to the card
page 219
assign an attribute from a custom list
page 219
enter additional information in a custom field
page 227
Click the Selling Details tab and enter your selling details.
The customer’s tax information is entered here. If
the customer’s tax status takes precedence over
that of the item or service being sold, select the
Use Customer’s VAT Code option. See ‘Assigning
VAT codes to cards’ on page 164.
C Credit
terms
The credit terms you entered earlier appear here
by default. You can override them here for this
customer. The credit terms entered here are used
as the default terms for all sales to the customer,
but can be changed at any time.
10
Click the Payment Details tab and select the method of
payment your customer will use to pay you.
11
[Optional] Click the Jobs tab and create new codes for each
job you have started or are about to start for the customer.
For more information about jobs, see ‘Jobs’ on page 233.
12
[Optional] Click the History tab and type the pound 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.
A
B
B VAT
information
C
A Selling
information
60
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.
CHAPTER 5
SALES
Entering sales
You enter a sale as a quote, order or invoice.
A Quote records a price you have quoted to a customer,
without creating a transaction. A quote has no impact on
your stock levels and can be changed to an order or an
invoice when your customer is ready to buy.
„
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 stock 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 debtors. Invoices
can be open (unpaid), closed (paid) or credit (negative sale).
An invoice can’t be changed to a quote or an order.
„
Task
Action
See
3
Enter the items or services you are selling
page 62
4
Enter additional information about the sale
page 63
5
Complete the sale
page 64
Task 1: Enter information about the
customer
1
Go to the Sales command centre and click Enter Sales. The
Sales window appears.
2
In the Customer field, type or select the customer’s name and
press TAB.
Customer credit limits and accounts on hold You
may not be able to record sales for customers who have
exceeded their credit limit or whose account has been placed on
hold. For more information, see ‘Credit control’ on page 73.
You can enter a sale in the Sales window and in the Bank
Register window.
NOTE :
Entering a sale in the Sales window—the procedure discussed in
this chapter—allows you to record more details about the sale
than entering it in the Bank Register window. To use the Bank
Register window, see ‘To enter a transaction in the Bank Register
window’ on page 49.
The terms and deliver-to address shown in the Sales window
are the details recorded in the customer’s card.
3
Complete the fields as described in the table below:
Entering a sales transaction
B
D
Complete the following steps to enter a sales transaction:
A
Task
Action
See
1
Enter information about the customer
below
2
Choose the type of sale
page 61
A
ENTERING SALES
C
If you want to change a customer’s delivery address, click the
down arrow next to the Del. to field and select another
address from the customer’s card. Alternatively, type the
address in the Del. to field.
61
Click the zoom arrow ( ) to change the credit terms for this
sale only. Note that if you want to change the credit terms for
all future sales to this customer, you must make that change
on the Selling Details tab of the customer’s card.
B
C
If the customer gave you a purchase order for this
transaction, enter that purchase order number here.
D
If you are entering prices that include VAT, select the VAT
Inclusive option. Do not change this setting after you enter
an amount in the Amount column.
Task 2: Choose the type of sale
In this step, choose the required status and layout for the
transaction you are creating. The layout displayed in the Sales
window is determined by the default 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. If you want to change the default layout:
a Click Layout. The Select Layout window appears.
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
The scrolling list in the middle of the Sales window is where you
enter details of what you are selling. In this area you enter item
numbers, activity ID numbers, descriptions, account numbers (or
62
E
F G H
I
J
Deliver
Type the quantity to be delivered.
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.
C
Item
Number
Type your item number or 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 feature’ on page 16.
E
Location
[MYOB Accounting Plus only] If you sell this item from
multiple locations, select the location where the item
will be delivered from. For more information, see
‘Multiple stock locations’ on page 142.
F
Price
The price of the item appears automatically. You can
change this if you want.
b Select the appropriate layout and click OK.
Task 3: Enter the items or services you are
selling
D
A
Miscellaneous layout The Miscellaneous layout is
used only for sales where a printed form is not needed.
Select the status from the list in the top left corner of the
window: Quote, Order or Invoice.
C
B
NOTE :
2
B
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
VAT
Type or select a VAT code for the line item.
CHAPTER 5
SALES
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
A
B
C
D
B C
E
A
Description
Enter a description of the goods or services being sold.
If you want to check spelling in this field, click Spell.
For more information, see ‘Spell-check feature’ on
page 16.
B
Acct No. or
Name
Enter the account to which the sale is to be allocated.
C
Amount
Type the amount you are charging for this service
D
Job
[Optional] Type or select a job number to assign a line
item to a job.
E
VAT
Type or select a VAT code.
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 64.
NOTE :
D E F
G H
A
Salesperson,
Comment,
Deliver Via,
Promised Date
Enter optional information, such as the name of
the salesperson, a comment, delivery method,
promised date 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 if you want.
D
VAT
Click the zoom arrow ( ) if you want to view or
change the VAT amounts assigned to the sale.
E
Carriage
Enter carriage charges.
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, expiry date and other details.
H
Carriage VAT
Select the VAT code for the carriage charges.
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.
ENTERING SALES
63
Recap transaction Before you record this transaction, you
can use the recap transaction feature to view the journal entries that
will be created when the transaction is recorded. This is useful for
confirming that the journal entries are being posted to the correct
accounts. To recap, choose Recap Transaction from the Edit menu.
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.
Task 5: Complete the sale
Fax
Click Send To and choose Fax. A window from your fax
software appears. Send the fax, using your fax software
as you normally do.
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.
NOTE :
After you have finished entering the details in the Sales window,
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 185.
„
If you want to record the sale without printing or sending it,
click Record (for a sales quote, click Save Quote).
„
If you want to record the sale and create a purchase order,
click Create PO. The quote or order is recorded and the
purchases window appears. For more information, see ‘To
convert an order to a purchase’ on page 91.
„
If you want to record the sale and print, send or save it as a
PDF, complete the relevant procedure below.
To…
Do this...
Print
Click Print and choose:
• Pre-printed Invoice to use the default sales form.
• Select Another Form to choose a different sales
form.
Print
preview
64
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.
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.
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
Go to the Edit menu and choose Insert Header. A blank line
will appear in the scrolling list with the cursor positioned in
the Description column.
CHAPTER 5
SALES
3
Type the text for the header. The text appears in grey.
4
Press TAB to complete the header entry.
To insert a subtotal
above the subtotal line and below the last subtotal, if there is
one.
To delete a blank line, line item, header or subtotal
1
In the Sales window, click in the line below the items to be
subtotalled.
1
In the Sales window, click anywhere in the blank line, line
item, header or subtotal you want to delete.
2
Go to the Edit menu and choose Insert Subtotal. A line
appears displaying the subtotal of the amounts that appear
2
Go to the Edit menu and choose Delete Line.
Recording sales with insufficient on-hand item quantities
If you track item quantities and values, and you want to record a
sales invoice for an item with insufficient on-hand quantities, you
can:
„
record the sale and allow a negative on-hand item quantity
and value to be recorded for the item
„
build, buy or backorder the item.
Allow negative on-hand quantities and
values
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 stock reporting Allowing
negative item amounts to be recorded in your stock affects the
reporting of stock values and cost of goods sold. This feature may
not be suitable for some businesses. Consult your accountant or
financial adviser or before using this option.
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.
RECORDING SALES WITH INSUFFICIENT ON-HAND ITEM QUANTITIES
65
Cost type
Description
default supplier for the item. For more information, see ‘Creating
items’ on page 137.
Last Cost
Last cost is used if the average cost is unavailable. For
example, if you have purchased an item before but
currently have none on-hand, the last purchase price is
used.
To build, buy or backorder items in the Backorder List
window
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.
1
Go to the Sales command centre and click Enter Sales. The
Sales window appears.
2
Enter the details of the sale. For more information, see
‘Entering sales’ on page 61.
3
Click Record. If you have insufficient on-hand quantities of an
item or you do not allow negative on-hand stock, the
Backorder List window appears.
When you record a purchase to replenish the items, a journal
entry automatically records the price variation between the
estimated cost and the actual cost, if there is one.
To allow the recording of sales with insufficient
on-hand quantities
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
Click the Stock tab and select the Allow the Sale of Items
with Insufficient On-Hand Quantities option.
Build, buy or backorder items
If you attempt to record a sales invoice with an insufficient
on-hand quantity (see ‘Complete the sale’ on page 64), and you
don’t allow the recording of sales with insufficient quantities, 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 144. If you
want to record a bill using this window, you need to enter a
66
This window lists items that are either out of stock or would be as
a result of recording the sale.
4
Decide what you want to do:
To...
Do this...
Auto-build
items
1
Click in the Build column next to the item you
want to auto-build and then click Build. The
Auto-Build Items window appears.
2
Click Build Items. The Build Items window
appears.
3
Click Record to build the finished item.
CHAPTER 5
SALES
To...
Do this...
Record a
purchase
1
Click in the Buy column next to the item you
want to purchase and then click Buy. The Enter
Purchases window appears.
2
Select Purchase 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 83.
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 Deliver and Backorder columns
adjusted. A sales order is automatically recorded
for the item when you record the invoice.
Record a
sales
order
Multiple items with insufficient quantities You can
use the Backorder List window to build, buy or backorder
items. 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 64.
Changing the status of a sale
The following sale types can be converted:
Sale type
Can be converted
to…
To convert a quote to an order or invoice
1
Go to the Sales command centre and click Sales Register.
The Sales Register window appears.
2
Click the Quotes tab and select the quote you want to
convert.
„ If you want to convert the quote to an order, click Change
to Order.
„ If you want to convert the quote to an invoice, click
Change to Invoice.
See
Quote
•
•
order
invoice
below.
Order
•
invoice
page 68.
Invoice
The status of an invoice cannot be changed.
If you want to convert several orders simultaneously, see ‘To
simultaneously convert several orders to invoices’ on page 68.
CHANGING THE STATUS OF A SALE
The Sales window appears displaying the sale with an Order
or Invoice status.
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.
67
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 converted to orders or invoices.
5
Click Record to record the invoice.
To simultaneously convert several orders to invoices
1
Click To Do List from any command centre. The To Do List
window appears.
2
Click the Orders tab to display a list of all your orders. If you
want to view the details of a specific order, click the zoom
arrow ( ) to the left of the customer’s name.
To convert an order to an invoice
1
Go to the Sales command centre and click Sales Register.
The Sales Register window appears.
2
Click the Orders tab and select the order you want to
convert.
3
Select the orders you want to convert to invoices by clicking
in the select column.
3
Click Change to Invoice. The Sales window appears
displaying the sale with an Invoice status.
4
4
Make any changes you want to make. For example, you may
want to change the transaction date to today’s date.
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 date and click OK.
Reviewing your sales information
There are several tools that you can use to review your sales
information.
68
Tool
Description
See
To Do List
The To Do List displays all open
sales, recurring sales and orders
sorted by overdue dates.
page 69
Analyse Debtors
The Analyse Debtors window
displays ageing information for all
open invoices.
page 69
Analyse Sales
The Analyse Sales window
provides a graphical snapshot of
your sales activities.
page 69
Sales reports
Sales reports help you keep track
of your sales activities.
page 69
Tool
Description
See
Sales history
History lets you view seven years
of sales history for an item, a
customer or an employee.
page 69
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 179
Find Transactions
The Find Transactions window
helps you find individual sales
transactions quickly.
page 179
Transaction
Journal
The Transaction Journal lists
journal entries of your sales and
other transactions.
page 179
CHAPTER 5
SALES
To view a list of all unpaid sales sorted by days
overdue
1
Click To Do List in any command centre. The To Do List
window appears.
2
Click the Debtors 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.
3
Click OK. The information you selected appears in the
Analyse Sales window.
4
Select the display options in the Analyse Sales window to
view charts showing your sales activities.
To view sales reports
There are several sales reports that can help you track your sales
activities. For example, you can run an Aged Debtors Summary
report to view your customers’ current balances sorted by ageing
periods. The Sales Item Summary report shows you which stock
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.
For information on displaying, customising and printing your
reports, see Chapter 14, ’Reports,’ starting on page 191.
To analyse your debtors
1
2
3
In any command centre, select Debtors from the Analysis
list. The Analyse Debtors window appears.
Click Filters and choose the time periods and any other
criteria you want to apply.
Click OK. The information you selected appears in the
Analyse Debtors window.
To analyse your sales activities
The Analyse Sales window provides various illustrations—as
graphs or as lists—of your sales activities.
1
In any command centre, select Sales from the Analysis list.
The Analyse Sales window appears.
2
Click Filters and choose the sales figures, time periods and
other criteria you want to apply.
REVIEWING YOUR SALES INFORMATION
To view sales history
You can view sales history for an item, a customer or an
employee.
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 financial
year (as displayed in the Company Information window), the
current financial year and the next financial year.
NOTE : Employee sales history To record an employee’s sales
history, you need to select that employee as the sales person when
you record a sale on the Sales window.
69
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 ‘To record money you receive’ on page 44.
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. For more
information, see ‘Entering transactions in the Bank Register
window’ on page 49.
The options for recording receipts and invoice payments are
summarised in the following diagram.
NOTE : Customer payments at point of sale If customers make
payments when purchasing merchandise or services and you are
issuing them an invoice, you can enter the payment amount in the
Paid Today field of the invoice. See ‘Enter additional information
about the sale’ on page 63.
70
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SALES
To record payments against invoices
1
Go to the Sales command centre 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 the deposit to be recorded in the undeposited funds
account. After you have grouped all the deposit
transactions you want, you can then make a bank deposit.
For more information about undeposited funds and
preparing bank deposits, see ‘Preparing a bank deposit’ on
page 45.
3
In the Customer field, type or select the customer’s name.
4
Type the amount received.
5
If you want to record the payment method, select the
method in the Payment Method field. Click Details if you
want to enter further details about the payment. For
example, if you are being paid by credit card, you can record
the credit card number and expiry date.
6
If you want, change the memo text and payment date. You
can change the ID number that is automatically generated.
However, we recommend that you use the default number to
make sure you don’t use duplicate IDs.
7
In the scrolling list in the bottom half of the window, indicate
which sales are covered by the payment by entering amounts
in the Amount Applied column. If the customer is paying a
deposit for an order, the word Order will show in the Status
column.
A
C
D
A
Discount
If you intend to award an early-payment
discount for a sale, assign the discount to the
appropriate invoice in this column. Note that
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 76.
B
Amount
Applied
Enter how much of the customer payment
you want to apply to each sale in this column.
C
Finance Charge
If part of the payment was used to pay
finance charges, type the finance charge
amount here. See ‘Finance charges paid by
customers’ on page 75 for more information.
D
Out of Balance
Keep in mind that 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 that appears in the Amount
Received field in the top half of the window
before you can record the transaction. The
Out of Balance amount must be zero before
you can record the transaction.
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 credit notes’ on page 77.
8
RECEIVING PAYMENTS
B
Click Record to record the customer payment.
71
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.
To print payment receipts
1
Go to either the Sales or Banking command centre and click
Print Receipts. The Review Receipts Before Printing
window appears.
2
If you print receipts on pre-printed stationery, type the
number of the first receipt in the Number of First Receipt in
Printer field.
3
Type the number of receipts you want to print in the Print
field.
4
If you want to filter the information to be displayed on the
customer receipt, click Advanced Filters. For more
information, see ‘Advanced filters’ on page 205.
5
Click in the select column (
to print.
6
Click Print.
) next to each receipt you want
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.
72
CHAPTER 5
SALES
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 74
„
adding finance charges to customer statements; see ‘Finance
charges paid by customers’ on page 75.
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 (see page 33) 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 set or change the credit limit for a single customer
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the Customer tab and select the customer for whom
you want to set a credit limit.
3
Click Edit. The Card Information window appears.
4
Click the Selling Details tab.
CREDIT CONTROL
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.
73
To prevent the recording of a sale when a customer
exceeds the credit limit
1
Log in to your MYOB software using the Administrator user
ID.
2
Go to the Setup menu and choose Preferences. The
Preferences window appears.
3
Click the Sales tab.
4
Select the If Credit Limit is Exceeded on Sale preference and
select Prevent Unless Overridden from the list. The Credit
Limit Override Password window appears.
5
Enter 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 centre and click Cards List.
The Cards List window appears.
2
Click the Customer tab and select the customer 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
74
Click OK to close the Preferences window.
CHAPTER 5
SALES
Recording sales to customers on credit hold If you want
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.
To record a finance charge
NOTE :
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 Your MYOB software
calculates the due date of each open invoice 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 the customer makes a partial payment during the overdue
period, the finance charge is adjusted accordingly.
Setting up, charging and recording 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 Ledger Accounts.
Select the I assess charges for late payment option and select
an income account to record the late payment charges.
Set the percentage you will be charging for late payments in the
% Monthly Charge for Late Payment field of the Selling
Details tab of each customer card.
CREDIT CONTROL
To record the finance charge owed by a customer on a
statement, select the Add Finance Charges to Amount Due
option in the Advance Filters window. For more information
about customer statements, see ‘Send customer statements’ on
page 249.
When your customer pays the late-payment charge, enter the
amount in the Finance Charge field of the Receive Payments
window. For more information, see ‘To record payments against
invoices’ on page 71.
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.
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.
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
Debtors 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.
75
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 cheque for your customer).
Use this method if you want to credit the customer for a part of a
non-item sale.
Before you manually create a credit of this type for the first
time, you need to have an account for tracking returns and
allowances. Check your accounts list for an income account named
‘Sales Returns and Allowances’. If it doesn’t exist, you need to create
it. For more information about creating an account, see ‘Set up
accounts’ on page 24.
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.
„
Manually create a credit. Use this method if you are
crediting the customer for part of a sale.
To reverse a sale
Before you can reverse an invoice, the transaction must be
unchangeable, that is, the Transactions CAN’T be Changed;
They Must Be Reversed option must be selected in the Security
tab of the Preferences window.
76
1
Go to the Sales command centre 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 drop-down 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.
1
Find and open the invoice. For more information about
finding invoices, see ‘Finding a transaction’ on page 179.
6
Select the account to be credited. This is normally an income
account called ‘Sales Returns and Allowances’.
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.
7
In the Amount field, type the amount of the credit as a
negative amount.
3
If you want, you can make 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.
CHAPTER 5
SALES
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
Go to the Sales command centre and click Enter Sales. The
Sales window appears.
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.
4
Click Layout and choose Item, then click OK.
5
In the Deliver column, enter the number of items being
returned as a negative number. The costs of the items appears
as a negative amount.
CUSTOMER CREDITS
6
Click Record. A customer credit appears in the Sales Register
window.
Settling credit notes
You can choose to settle a customer credit in the following ways:
„
Apply credit to an open invoice. Applying the credit to one
or more of the customer’s open invoices reduces the amount
the customer owes you.
„
Record a refund. If the customer does not have any open
invoices, you can record a refund payment for the amount of
the customer credit.
To apply a customer credit to an open invoice
1
Go to the Sales command centre and click Sales Register.
The Sales Register window appears.
2
Click the Returns & Credits tab. A list of customer credits
appears.
3
If the credit you want to settle does not appear, select
Customer from the Search By list to display a credit for a
particular customer. Enter the customer’s name in the
adjacent field. A list of credits for that customer appears.
77
4
Select the credit you want to apply and click Apply to Sale.
The Settle Returns & Credits window appears, listing all
open invoices assigned to the customer.
5
Enter the amounts you want to apply to one or more open
invoices in the Amount Applied column.
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. Enter the customer’s name
in the adjacent field and then press TAB. A list of credits for
that customer appears.
4
Select the credit you want to refund and click Pay Refund. A
refund cheque for the amount of the credit appears in the
Settle Returns & Credits window.
5
In the Account field, enter or select an account.
If the Apply Customer Payments Automatically to Oldest
Invoice First preference is set, amounts will appear next to
the oldest invoices in the Amount Applied column.
However, you can apply the credit amount to any one
transaction or you can divide it among many transactions in
the list. Note that the total amount you apply in the Amount
Applied column must equal the amount that appears in the
Credit Amount field.
6
If you want to apply part of a customer credit to any unpaid
finance charges they have accrued, enter an amount in the
Finance Charge field.
7
Click Record to apply the credit.
To record a refund payment
1
78
Go to the Sales command centre and click Sales Register.
The Sales Register window appears.
For example, if you’re paying a credit card refund and you
group all your credit card sales, choose your undeposited
funds account.
6
If you want to, change other information in the window, such
as the transaction date.
7
If you are paying by cheque and you have already written it,
select the Cheque Already Printed option.
8
Specify how you want to send a remittance advice by
selecting a delivery option from the Remittance Advice
Delivery Status list.
9
Click Record.
CHAPTER 5
SALES
Dealing with a supplier who is also a customer
If your business sells goods and services to a business from which
you also make purchases, you need to record the transactions
using a separate customer and supplier card. You can then record
a contra payment to offset the receivable and payable amounts.
b In the Customer field, type or select the customer’s name.
c Enter 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 more information, see
‘Set up accounts’ on page 24.
To record contra payments
1
Record a payment from the customer.
a In the Receive Payments window, type or select the
Contra Suspense account number in the Deposit to
Account list.
Record a payment made to the supplier.
a In the Pay Suppliers window, type or select the Contra
Suspense account in the Account field.
b In the Supplier field, type or select the supplier’s card.
c Enter the amount that you need to offset against a
purchase.
After these entries are made, your bank accounts will not have
been affected; yet your debtors and creditors accounts have been
reduced. The Contra Suspense account balance should be zero.
Accounting for bad debts
When you know that a debt will not be recovered, you need to
write it off. Before you can write off a bad debt, you need to
create a Bad Debt expense account in your accounts list. For
more information, see ‘Set up accounts’ on page 24).
5
In the Description field, type a description of the transaction.
6
In the Acct No. field, select the account for Bad Debts.
If you account for bad debts by posting a provision to an asset
account (for example, the Provision for Bad Debts asset
account), you can select that account.
To write off a bad debt
1
Go to the Sales command centre and click Enter Sales.
2
In the Sales window, click Layout.
3
In the Select Layout window, click Miscellaneous and then
click OK.
4
In the Customer field, type or select the customer’s name.
DEALING WITH A SUPPLIER WHO IS ALSO A CUSTOMER
7
In the Amount field, type the bad debt amount as a negative
number.
8
Click Record.
You now need to apply the credit against the customer’s
original open invoice. You do this in the Settle Returns &
Credits window. See ‘To apply a customer credit to an open
invoice’ on page 77.
79
80
CHAPTER 5
SALES
Purchases
PURCHASES
6
This chapter explains how to enter information about your purchases. You record a purchase by specifying the supplier details, the purchase form
layout (item, service, professional or miscellaneous), status of the purchase (quoted, ordered or purchased) and details of the purchased items or
services. This chapter also explains how to pay your suppliers for these purchases, how to deal with suppliers who owe you money (settling a
supplier debit) and how to review and analyse your entire purchasing activity with a variety of reports and analytical tools.
Creating a supplier card
Before you can record a purchase order, you need to create a card
for your supplier.
To create a supplier card
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click New. The Card Information window appears.
3
Select Supplier from the Card Type list.
4
Select the designation of the card: company or individual.
5
Type the name of the supplier and press TAB. Additional fields
appear.
6
Enter a code to identify this supplier in the Card ID field. For
more information, see ‘Card identification codes’ on
page 227.
7
Enter contact details for the supplier.
If you want to enter more contact information, select
Address 2 from the Locations list and enter the additional
details. You can enter contact details for five locations.
81
Click the Card Details tab. You can enter notes about the
supplier, insert a picture and assign attributes to group and
sort the card.
8
If you want to...
See
insert a picture
page 228
assign identifiers to the card
page 219
assign an attribute from a custom list
page 220
enter additional information in a custom field
page 227
A Buying
information
The selections you make here will be used, by
default, on quotes, orders and bills that you create
for this supplier. You can override these selections
when recording the purchase.
B VAT
information
The supplier’s VAT information is entered here. If the
supplier’s VAT status takes precedence over that of
the item or service being sold, click the Use
Supplier’s VAT Code option. See ‘Assigning VAT
codes to cards’ on page 164.
C Credit terms
The credit terms you entered earlier appear here by
default. You can override them here for this supplier.
The credit terms entered here are used as the default
terms for all purchases from the supplier, but can be
changed at any time.
Click the Buying Details tab and enter your buying details.
9
10
[Optional] Click the History tab and type the value in pounds
of the purchases made prior to your conversion month. You
can also type or select the date that the contact became a
supplier.
11
Click OK to close the Card Information window.
A
B
C
82
CHAPTER 6
PURCHASES
Entering purchases
You can enter a purchase as a quote, order, receive item or
purchase.
„
„
„
„
You can enter a quote to keep a record of an estimate or
quote you receive from one of your suppliers. A quote has no
impact on your stock levels and can be changed to an order
or a purchase when you are ready to purchase.
An order is a purchase where no service or item has been
received. While orders do not affect your financial figures,
they do affect your stock reports. Orders don’t create
transactions unless you have paid a deposit to the supplier. An
order can be changed to a purchase 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 been billed for.
When you record items received, the item is added to your
stock and the cost of the item is added to an accrual account
for stock items until you record a purchase for it. An accounts
payable transaction is not recorded at this time. You can only
record a received items transaction in the item layout, and
only against an order.
A purchase is usually created when you receive the items or
services you ordered and are required to pay the supplier
(that is, you have been charged for the purchase). Recording
a purchase will update the appropriate accounts, including
the account for tracking creditors. Purchases can be open
(unpaid), closed (paid) or debit (negative purchase). A
purchase cannot be changed to a quote or an order.
You can enter a purchase in the:
„
Purchases window
„
Bank Register window.
ENTERING PURCHASES
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.
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
‘To enter a transaction in the Bank Register window’ on page 49.
Entering a purchase transaction
Complete the following steps to enter a purchase transaction:
Task
Action
See
1
Enter information about the supplier
page 84
2
Choose the type of purchase
page 84
3
Enter the items or services you are purchasing
page 84
4
Enter additional information about the purchase
page 86
5
Complete the purchase
page 86
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 90.
83
Task 1: Enter information about the
supplier
1
Go to the Purchases command centre and click Enter
Purchases. The Purchases window appears.
2
In the Supplier field, type or select the supplier’s name.
Check whether the default layout is appropriate.
1
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.
Select the status from the list in the top left corner of the
window: Quote, Order, Receive Item or Purchase. Note that
Receive Item only appears if you chose Item layout.
2
The terms shown in the Purchases window are the terms
recorded in the supplier’s card.
3
Complete the fields as described in the table below.
Task 3: Enter the items or services you are
purchasing
A
A
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 supplier, you must make that
change on the Buying Details tab of the supplier’s card.
B
Type the purchase order number or accept the default in
the Purchase No. field.
C
If the supplier gave you an invoice number, enter it in the
Supplier Inv No. field.
The scrolling list in the middle of the Purchases window is where
you enter details of what you are buying. In this area, you enter
item numbers, descriptions, account numbers (or account
names, depending on 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 Purchase status.
Item
4
If you are entering prices that include VAT, select the VAT
Inclusive option. Do not change this setting after you enter
an amount in the Amount column.
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 created the supplier’s card.
84
F
J
B
A
Bill
The quantity you have been invoiced for.
B
Received
This field is display-only. It displays the quantity of
items received. For more information, see ‘Receiving
items without a supplier invoice’ on page 88.
C
D
E
G
H
I
A
CHAPTER 6
K
PURCHASES
The following illustration shows the fields for a purchase with a
Service layout and a Purchase status. These fields also appear in
the Professional and Miscellaneous layouts.
C
Backorder
The quantity of the item back ordered. An order for
this amount will be created automatically when you
click Record.
D
Item
Number
Pressing TAB here displays the item list from which you
can choose the item being purchased.
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 feature’ on page 16.
F
Location
[MYOB Accounting Plus only] If you store this item in
multiple locations, you can select the location where
the item will be received. For more information, see
‘Multiple stock locations’ on page 142.
A
Description
A description of the goods or services purchased. If
you want to check spelling in this field, click Spell. For
more information, see ‘Spell-check feature’ on
page 16.
G
Price
The price of the item appears automatically. You can
change this if you want.
B
H
Disc%
[Optional] The volume discount as a percentage.
Acct No. or
Account
Name
I
Total
The total price is calculated automatically. If you
change the price, the Disc% field is updated to show
the discount applicable.
The account to assign to the purchase. Pressing TAB
here displays 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 creditors account for
ordinary purchases.
C
Amount
The amount you have been invoiced.
J
Job
[Optional] Selecting a job number here assigns a line
item to a specific job.
For more information, see ‘Jobs’ on page 233.
K
VAT
If the item is taxable, enter the VAT code.
ENTERING PURCHASES
Service
A
B
C
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. For more
information, see ‘Adding lines, subtotals and headers to purchases’
on page 87.
85
Task 4: Enter additional information
about the purchase
confirming that the journal entries are posted to the correct
accounts. To recap, choose Recap Transaction from the Edit menu.
The fields that appear at the bottom of the Purchases window
differ, depending on the type of purchase you are creating.
Task 5: Complete the purchase
After you have finished making entries in the Purchases window,
there are several ways to complete the purchase.
A
A
B
B
C
D E F
G
Comment
Deliver Via
Promised Date
Enter additional information about the purchase,
such as a comment, delivery method and the date
the goods or services were promised.
Purchase Del.
Status
If you want to print or email the purchase in a
batch, select the required delivery method from
the list.
For more information, see ‘Sending forms in a
batch’ on page 203.
C
Journal Memo
The journal memo is generated automatically. You
can change it if you want.
D
VAT
If you want to change the VAT component of the
purchase price, click the zoom arrow ( ).
E
Carriage
If there are any charges for carriage, enter them
here.
F
Paid Today
This amount can be either:
• money you paid at the time of the purchase, or
• money you gave as a deposit, if you are
creating an order.
G
Carriage VAT
code
If there are any charges for carriage, select the VAT
code for them.
TIP : Save the purchase as a recurring purchase.
You can save
the purchase as a recurring transaction so that you can use it again
in the future. Click Save as Recurring. In the Edit Recurring
Schedule window, enter the necessary information and click Save.
(For more information, see ‘Recurring transactions’ on page 185.)
„
If you want to record the purchase without printing or
sending it, click Record.
„
If you want to record the purchase and print, send or save it
as a PDF, complete the relevant procedure below.
To…
Do this...
Print
Click Print and choose:
• Pre-printed P.O. to use the default form.
• Select Another Form to choose a different
purchases form.
Note that you cannot print purchases with the
miscellaneous layout.
Print
preview
Click Print and choose Preview to preview the
purchases form for this transaction.
Note that the transaction will be recorded before
the form is displayed.
Email
Click Send To and choose Email. Review and make
entries in the Email window and click Send. The
email, which will include a PDF (Portable
Document Format) attachment, will be sent to the
Outbox of your default email software. Send the
file from your email software as you normally do.
Recap transaction Before you record this transaction, you
can use the recap transaction feature to view the journal entries that
will be created when the transaction is recorded. This is useful for
NOTE :
86
CHAPTER 6
PURCHASES
To…
Do this...
Fax
Click Send To and choose Fax. A window from
your fax software appears. Send the fax using your
fax software.
Save as PDF
Click Send To and choose Disk. In the window
that appears, enter a file name and location for the
PDF file and click Save.
To insert a subtotal
1
In the Purchases window, click in the first line below the
items to be subtotalled.
2
Go to the Edit menu and choose Insert Subtotal. A line
appears displaying the subtotal of the individual amounts
that appear above the subtotal line and below the last
subtotal, if there is one.
Adding lines, subtotals and headers to
purchases
You can add lines, headers and subtotals to purchase
transactions.
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.
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.
3
Type the text for the header. The text appears in grey.
4
Press TAB to complete the entry.
ENTERING PURCHASES
87
Receiving items without a supplier invoice
If you receive items from a supplier and have not been invoiced
for them, you may not know the actual amount payable to the
supplier. However, if you stock these items, you will need to add
them to your on-hand stock before you can sell them. But, as you
don’t know the amount payable, you shouldn’t record an
amount owed to the supplier at this time.
Instead, you can record the receipt of these items using a
purchase transaction with a receive item status. When you record
a purchase with a receive item status, you enter an estimated
purchase amount, which is then allocated to a creditors accrual
account. Your accounts payable is not affected at this time.
Later, when your supplier bills you for the items, you can record a
purchase with the actual purchase amount. When you record the
purchase, the actual purchase amount is allocated to your
accounts payable and the estimated amount is removed from the
accrual account.
Before you can record items received without a supplier invoice,
you need to set up the accrual account for them.
Setting up an accrual account for items
received without a supplier invoice
When you record items received without a supplier invoice, you
need to allocate the anticipated purchase amount to a creditors
accrual account.
If the account does not exist, you need to create it. The account
should be a liability account named, for example, Trade Creditors
Accrual - Stock. For information on creating an account, see ‘Set
up accounts’ on page 24.
88
Before you can allocate transactions to this account, you need to
make it the default linked account for items received without a
supplier invoice.
To link an account for items received
1
Go to the Setup menu, choose Linked Accounts and then
Purchases Ledger Accounts. The Purchases Ledger Linked
Accounts window appears.
2
Select the I can receive items without a Supplier bill option.
3
In the Liability Account for Item Receipts field that appears,
type or select the creditors accrual account.
4
Click OK.
Recording items received without a
supplier invoice
You need to record items received against a supplier purchase
order. If the order already exists, you can record the items
received against the order. If no order exists, you can create one
when you record the items received.
To record items received against an order
You can record items received against an existing order in the
Purchases window or from the Purchases Register window.
1
Go to the Purchases command centre and click Purchases
Register. The Purchases Register window appears.
2
Click the Orders tab.
3
Find the required order and select it.
CHAPTER 6
PURCHASES
4
Click Receive Items. The Purchases window appears with
the Receive Item status.
You have the following choices:
„
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 create an order when you record items received
5
In the Receive field, type the item quantity received.
6
[MYOB Accounting Plus only] If you keep items at multiple
locations, 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
1
Recording items received from the Stock Control
command centre You can also record items received by
clicking Receive Items from the Stock Control command
centre. The Purchases window appears with the Receive Item
purchase status.
NOTE :
Click Record. The items are recorded in your stock and the
original order is updated with the number of items received.
When you receive the supplier’s bill, you need to convert the
order to a purchase. For more information, see ‘Changing the
status of a purchase’ on page 91.
If you receive a message to update an order or create a new
order This message indicates that the total of items in the
Receive column and the To Date column of an item receipt is
greater than the quantity in the Ordered column.
RECEIVING ITEMS WITHOUT A SUPPLIER INVOICE
Go to the Purchases command centre and click Enter
Purchases. The Purchases window appears.
2
In the Supplier field, type the supplier’s name, or select it
from the list.
3
If the Item layout does not appear:
a Click Layout. The Select Layout window appears.
b Select Item and then click OK.
89
4
5
Select Receive Item from the status list in the top-left corner
of the window.
Enter the purchase date and your order number.
6
In the Ordered field, type the quantity you ordered. This can
be more the quantity received.
7
In the Receive field, type the quantity received.
8
In the Item Number field, type the number of the item
received, or select it from your items list.
9
[MYOB Accounting Plus only] If you keep items at multiple
locations, 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.
10
In the Price field, enter the estimated price for the items.
11
Click Record. The items are recorded in your stock and a
purchase order is created with the number of items received.
When you receive the supplier’s bill, you need to convert the
order to a purchase. For more information, see ‘Changing the
status of a purchase’ on page 91.
Creating a purchase order from a sale
If you want to order items to fulfil a sale, you can create a
purchase order using sales quote or sales order details that you
have recorded.
To create a purchase order from a sale
90
1
Go to the Sales command centre and click Sales Register.
The Sales Register window appears.
2
Locate and select:
„ a quote—click the Quotes tab and select the required
quote
„ an order—click the Orders tab and select the required
order.
CHAPTER 6
PURCHASES
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.
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.
4
Select a supplier in the Supplier field. Note, if you have
nominated a supplier for these items in the item setup, this
supplier will appear by default.
7
Click Record. The new purchase order is created and the
original sales quote or order remains in the Sales Register
window.
5
Enter the cost of the items in the Price column.
Changing the status of a purchase
If you enter a quote or an order, you can easily convert it to a
purchase once the amount is payable. A quote can be converted
to an order or a purchase. An order can only be converted to a
purchase. Quotes and orders must be converted to purchases to
show as payable.
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 purchases.
To convert an order to a purchase
To convert a quote to an order or a purchase
You can convert a quote to an order or a purchase from the
Purchases window or from the Purchases Register window.
1
Go to the Purchases command centre and click Purchases
Register. The Purchases Register window appears.
2
Click the Quote tab.
3
4
You can convert an order to a purchase in the Purchases window
or from the Purchases Register window. If you want to convert
several orders to purchases simultaneously, see ‘To
simultaneously convert several orders to purchases’ on page 92.
1
Go to the Purchases command centre and click Purchases
Register. The Purchases Register window appears.
Find the required quote and select it.
2
Click the Orders tab.
If you want to convert the quote to:
a an order, click Change to Order. The Purchases window
appears.
b a purchase, click Change to Purch. The Purchases
window appears.
3
Find the required order and select it.
4
Click Change to Purch. The Purchases window appears,
displaying the purchase.
5
If you want to, you can update the information in this
window, such as changing the transaction date.
5
If you want to, you can update the information in this
window, such as changing the transaction date.
6
Click Record. A new purchase is created and the original
order is removed.
6
Click Record. The purchase or order is recorded.
CHANGING THE STATUS OF A PURCHASE
91
3
Click To Do List from any command centre. The To Do List
window appears.
Select the orders you want to convert to purchases by clicking
in the select column ( ) next to them.
4
Click Record as Actual.
Click the Orders tab to display a list of all your orders.
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.
To simultaneously convert several orders to purchases
1
2
If you want to view details about a specific order, click the
zoom arrow ( ) to the right of the supplier’s name.
Reviewing your purchase information
There are several tools that you can use to review your purchases
information.
92
Tool
Description
See
To Do List
Displays all open purchases, recurring
purchases and orders, sorted by due
date.
below
Analyse
Creditors
Provides details of your purchase
activities.
page 93
Purchase
reports
Purchase reports help you keep track of
your purchase activities.
page 93
Purchase
History
History lets you view seven years of
purchase history for an item or a supplier.
page 93
Find
transactions
Find Transactions helps you find
purchase transactions quickly.
page 180
Purchases
Register
The Purchases Register window gives
you a complete picture of your purchase
activity—open and closed purchases,
orders, quotes, returns, and so on.
page 179
Transaction
Journal
The Transaction Journal window lists
journal entries of your purchases and
other transactions.
page 179
To view a list of all unpaid purchases sorted by days
overdue
You can view a list of all unpaid purchases in the To Do List and
enter supplier payments for those purchases.
1
Click To Do List in any command centre. The To Do List
window appears.
2
Click the Creditors tab. A list of all unpaid purchases appears.
The Overdue column shows the number of days a payment is
overdue (a negative number in the Overdue column
indicates that the payment is not yet due). The number of
overdue days is calculated by checking the original date of
purchase and comparing it to today’s date and your credit
terms with the supplier.
CHAPTER 6
PURCHASES
To analyse creditors
To view purchase reports
The Analyse Creditors window allows you to view detailed
information about how much you owe suppliers and how long
you have owed them. This analysis is based on all purchases and
payments recorded in your company file.
There are several purchase reports that can help you track your
purchase activity. For example, you can run a Creditors
Reconciliation Summary report if you want to analyse your
creditors as of a past date. The Analyse Purchases Items
Spreadsheet report shows you the stock items which are costing
you the most money.
1
Go to the Purchases command centre and click Analysis. The
Analyse Creditors window appears.
2
Click Filters. The Ageing Date window appears.
3
Set your filters in the Ageing Date window and click OK.
4
Select the required view of the Analyse Creditors window:
„ The Summary view displays all the money that you owe
suppliers, totalled by supplier.
„ The Supplier Detail view displays all the money that you
owe the supplier selected in the Supplier Detail field.
„ The Purchase Detail view displays all the transactions
assigned to the purchase selected in the Purchase Detail
field.
The information in this window is based on:
the entries you made above in the Ageing Date window,
and
„ the selections you made in the Ageing fields in the
Reports & Forms tab of the Preferences window—by
choosing Preferences from the Setup menu.
„
REVIEWING YOUR PURCHASE INFORMATION
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Click the Purchases tab. A list of purchase reports appears.
For information on displaying, customising and printing your
reports, see ‘Reports’ on page 191.
To view purchase history
You can view the purchase history for an item or a supplier.
1
Display the Item Information window for an item or the
Card Information window for a supplier.
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 financial year (as displayed in the Company
Information window), the current financial year and the next
financial year.
93
Paying suppliers
If you have recorded a purchase, you pay the supplier in the Pay
Suppliers window. In this window you can record the payments
to one or more of your outstanding purchases.
You can also make payments to suppliers in the Bank Register
window, especially if you have several purchases to pay and do
not need to record detailed information for each payment. When
you use the Bank Register window to make supplier payments,
the entire payment is automatically allocated to the oldest
purchase first. For more information, see ‘Entering transactions in
the Bank Register window’ on page 49.
You can pay several outstanding purchases at once in the To Do
List window. For more information, see ‘To pay several purchases
at once’ on page 95.
The options for recording payments are summarised in the
following diagram.
To pay suppliers
1
Go to the Purchases command centre and click Pay
Suppliers. The Pay Suppliers window appears.
The Account field normally defaults to your current account.
94
2
To change the default account in the Account field, type or
select the account from which you want to make the
payment.
3
Type the supplier’s name or select the supplier from the list
using the search icon ( ).
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PURCHASES
If you receive an alert message If you have
outstanding supplier debits with this supplier, a message may
appear. You will have the opportunity to settle the supplier
debits immediately or at a later date. See ‘Settling supplier
debits’ on page 97.
NOTE :
4
Change the memo and payment date if necessary.
5
In the scrolling list in the bottom half of the window, indicate
which purchases are covered by the payment by entering
amounts in the Amount Applied column.
E
A
A
B
C
Pay All
Discount
Amount
Applied
B
If you are taking an early-payment discount for
a purchase, assign the discount to the
appropriate purchase in this column.
Note that you cannot assign a discount to a
purchase that you are not settling in full. If this
is the case and you want to record a discount
that the supplier has given you, you can create
a supplier debit. See ‘Supplier debits’ on
page 96.
The amount of the payment you want to apply
to each purchase. The amounts you apply in
this column are accumulated in the Total
Applied field.
If part of the payment was used to pay finance
charges, enter the finance charge amount here.
E
Out of
Balance
The Out of Balance amount must be zero
before you can record the transaction.
This field will be non-zero if there is any
variance between the Total Paid amount and
the Amount field in the top half of the window.
If this happens, correct the amounts in the
Amount Applied and Finance Charge fields.
If you are recording a cheque payment and the cheque has
already been written, or if you are recording a transaction
that doesn’t require a printed cheque (such as a petty-cash
payment or Internet payment), select the Cheque Already
Printed option.
7
If you want to send remittance advice in a batch, select an
option from the Remittance Advice Delivery Status list.
After you have recorded a number of payments, say, the day’s
payments, you can print or email a transaction batch. For
more information, see ‘Forms’ on page 201.
8
If you want to preview the remittance advice or cheque for
this transaction, click Print and then choose Preview Cheque
or Preview Remittance Advice. Note that the transaction is
recorded before it is displayed.
9
If you want to print a cheque or remittance advice now, click
Print and select the form type you want to print. Note that
the payment is recorded before it is printed.
10
Click Record.
To pay several purchases at once
You can pay several outstanding purchases at once in the To Do
List window. The linked account for paying purchases will be
used for all supplier payments made from this window.
1
PAYING SUPPLIERS
Finance
Charge
6
C D
Use Pay All if you are settling your account in
full. The total payment amount appears in the
Amount field and the individual payment
amounts are applied to each open purchase.
D
Click To Do List in any command centre. The To Do List
window appears.
95
2
Click the Creditors tab. A list of all unpaid purchases appears.
5
Click Pay Suppliers.
3
If you want to view details about a specific purchase, click the
zoom arrow ( ) next to the purchase.
6
4
Click in the select column (
want to pay.
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.
3
If you want, you can make some changes to the supplier debit
(such as changes to the date and memo), but you can’t
change the accounts, amounts and quantities that are
associated with the debit.
4
Click Record Reversal. A supplier debit memo appears in the
Purchases Register window.
) next to each purchase you
Supplier debits
A supplier debit is money that a supplier owes you.
To process a supplier debit, you first need to record a debit
transaction and then record the settlement of the debit (for
example, by recording a refund cheque from your supplier).
Recording supplier debits
You can create a supplier debit in one of two ways:
„
Reverse an existing purchase. Use this method if you have
been debited for the entire purchase.
1
Go to the Purchases command centre and click Enter
Purchases. The Purchases window appears.
„
Manually create a debit. Use this method if you have been
debited for part of a purchase.
2
In the Supplier field, type or select the supplier’s name.
3
Select Purchase from the list in the top left corner of the
window.
4
Click Layout and select Miscellaneous.
5
In the Description field, type the reason for the supplier
debit.
6
In the Acct No. field, type the account number to be debited
or select it from the list. This is normally an expense account
called Purchases Returns.
7
In the Amount field, type the amount of the debit as a
negative amount.
8
Click Record. A supplier debit memo appears in the
Purchases Register window.
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.
96
To manually create a debit for a non-item purchase
1
Find and display the purchase. For more information, see
‘Finding a transaction’ on page 179.
2
Go to the Edit menu and choose Reverse Purchase. A
supplier debit appears in the Purchases window.
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PURCHASES
listing all open purchases that you have made from the
supplier.
To manually create a debit for an item purchase
1
Go to the Purchases command centre and click Enter
Purchases. The Purchases window appears.
1
In the Supplier field, type or select the supplier’s name.
2
Select Purchase from the list in the top left corner of the
window.
3
Click Layout and select Item.
4
In the Bill field, type the quantity of the item you are
returning as a negative number.
5
In the Item Number field, type the item number or select it
from the list. The cost of the item is displayed as a negative
amount in the Total field.
6
Click Record. A debit memo appears in the Purchases
Register window.
5
Enter the amount you want to apply to a purchase in the
Amount Applied column.
If the Apply Supplier Payments Automatically to Oldest
Purchase First preference is selected in the Purchases view of
the Preferences window, amounts will appear next to the
oldest purchase in the Amount Applied column.
You can apply the debit amount to any 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.
Settling supplier debits
You can settle a supplier debit in one of two ways:
„
Apply the debit to an unpaid purchase. Use this method to
apply the supplier debit to one or more of your unpaid
purchases from the supplier, or
„
Receive a refund. Use this method to record the receipt of a
refund cheque from the supplier.
6
If you want to apply part of the supplier debit to any unpaid
finance charges you have accrued, enter an amount in the
Finance Charge field.
7
Click Record to apply the supplier debit.
To apply a supplier debit to an unpaid purchase
1
Go to the Purchases command centre and click Purchases
Register. The Purchases Register window appears.
2
Click the Returns & Debits tab.
3
Select Supplier from the Search By list. Enter the supplier’s
name in the adjacent field. A list of debits for that supplier
appears.
4
Select the debit you want to apply and click Apply to
Purchase. The Settle Returns & Debits window appears,
SUPPLIER DEBITS
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.
97
To record a refund cheque
1
Go to the Purchases command centre and click Purchases
Register. The Purchases Register window appears.
2
Click the Returns & Debits tab.
3
Select Supplier from the Search By list. Enter the supplier’s
name in the adjacent field. A list of debits for that supplier
appears.
4
Select the debit that is being refunded and click Receive
Refund. A refund cheque for the amount of the supplier debit
appears in the Settle Returns & Debits window.
5
Click Record to record the refund cheque.
Adding finance charges paid to suppliers
Finance charges are amounts added to an outstanding balance as
a penalty for late payment to one of your suppliers. If your
supplier has added a finance charge to your account, you can
enter the amount in the Pay Suppliers window.
Deleting finance charges
If you enter a finance charge in the Pay Suppliers window, two
transactions are recorded:
„
the full supplier payment, including the finance charge, is
recorded in the disbursements journal, and
„
the finance charge is recorded in the purchases journal.
Setting up and recording finance charges
Before you can record finance charges, you need to specify an
account for tracking the charges. Go to the Setup menu, choose
Linked Accounts and then Purchases Ledger Accounts. Select
the I pay charges for late payment option and select an
expense account to record the late payment charges.
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.
98
Therefore, if you want to delete a finance charge payment, you
must delete both transactions. If only one entry is deleted, the
Creditors 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.
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PURCHASES
Paying your employees
Payroll is only available in MYOB Accounting Plus.
You can use your MYOB software to process pays for wages and salary. The software can calculate overtime rates, allowances, union fees and
other deductions, employer expenses and entitlements such as holiday leave and sick leave, union fees, along with tax deductions.
In MYOB software, the components of an employee’s pay, such as wages, entitlements and taxes, are called payroll categories. These are assigned
to an employee’s card to create the employee’s recurring paycheque. When you record a paycheque, you can vary an employee’s pay by
overriding the recurring paycheque values with the actual number of hours worked and the number of hours of holiday leave taken.
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.
At year-end, you can print P14 and P60 forms for your employees to use at tax time. You can e-file these forms using the HM Revenue & Customs
PAYE Online for Employers service, or submit them by post.
If you are concerned about employee privacy, you can use the security features to restrict access to this and other areas of your MYOB software.
Payroll setup tasks
Complete the following tasks to set up your payroll:
Task
NOTE : Using the Easy Setup Assistant to set up payroll You can
also use the Easy Setup Assistant to set up payroll. For more
information, see ‘Set up payroll’ on page 35.
See
1
Enter your company’s general payroll information
page 35
2
Create payroll categories
page 100
3
Create a card for each employee
page 105
4
Enter payroll information for each employee
page 105
99
PAYING YOUR EMPLOYEES
7
Creating payroll categories
An employee’s pay is made up of many components, such as
hourly pay, overtime, deductions, taxes and so on. In MYOB
software, these components are called payroll categories, and
they are grouped into five types: wages, entitlements,
deductions, employer expenses and taxes.
Category
Description
Wages
All amounts paid to an employee for labour or
services rendered on an hourly, salary or other basis.
Entitlements
Accrued entitlements such as holidays and sick leave.
Deductions
Amounts withheld by the employer and paid to other
organisations on behalf of the employee, for
example, union fees.
Employer
expenses
Employer-paid benefits, for example, NI employer
contributions.
Taxes
Amounts withheld by the employer, such as PAYE
Income Tax.
To create a payroll category
1
Go to the Payroll command centre and click Payroll
Categories. The Payroll Category List window appears.
2
Click the tab corresponding to the type of payroll category
you want to create—Wages, Entitlements, Deductions or
Expenses.
You can only view tax categories You cannot create
any tax categories. To view the tax table information, click the
Taxes tab and then click the zoom arrow ( ) next to a tax. The
tax table information is set by government legislation.
NOTE :
A default list of payroll categories is generated when you create
your company file. You may want to review these categories and
tailor them to suit your business needs. See ‘To create a payroll
category’ below and ‘To edit a payroll category’ on page 104.
100
3
Click New. The […] Information window for the selected
payroll category type appears.
4
Type a name for the payroll category.
CHAPTER 7
PAYING YOUR EMPLOYEES
5
Make the required selections for the payroll category. See the
following topics for information about the options available
for each payroll category type:
„ ‘Wages Information window’ below
„ ‘Entitlements Information window’ on page 102
„ ‘Deduction Information window’ on page 103
„ ‘Employer Expense Information window’ on page 104.
6
Click Employee. The Linked Employees window appears.
7
Select the employees whose pay will include this payroll
category by clicking the Select column ( ), and 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 Entitlement category (and you have selected a
percentage of gross wages as the type of entitlement), click
Exempt and exclude those wage categories that should
not be included in the entitlement calculation
„ a Deduction category, click Exempt and select the taxes
that should be applied only to net pay (that is, to gross pay
less the deduction amount)
„ an Expense category (and you have selected a percentage
of gross wages as the expense basis), click Exempt and
choose the wage categories that will not contribute to the
value of the expense.
9
Click OK twice. A payroll category information window
appears.
Wages Information window
A
B
C
D
A Choose either Salary or Hourly to specify whether the calculation will
be based on the hours worked or a set amount per pay period.
Linked wage categories for entitlements (such as Holiday Pay) must be
hourly for all employees (even those paid a salary) for the entitlements
to be processed correctly. See ‘Entitlements Information window’ on
page 102 for more information.
B The Pay Rate options only appear for hourly wages. 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 amount per hour
will be the same for each employee regardless of their hourly base pay.
C If you select the Optional Account option you can override the
employee’s wage expense account (entered in the Payroll Details tab
view of their card) for this particular wage item.
D [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 Holiday Pay). When you record
leave, base pay amounts will be adjusted for the amount of leave
paid.
CREATING PAYROLL CATEGORIES
101
Entitlements Information window
•
A
B
C
D
A
102
Type of Entitlement 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.
•
This option allows you to set the
entitlement as a percentage of the number of hours of any wage
category. It can only be used with employees who have an Hourly
Base Pay (entered in the Payroll Details tab view of their card). 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 holiday 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 Wage. This totals all wage
categories (hourly and salary) you pay an employee.
This option 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 holiday leave entitlement may be for
20 days per year, being 160 hours per year based on a 40-hour
week. If the employee is paid fortnightly, there are 26 pay periods
per year. The amount you enter here would be 160 ÷ 26 = 6.154
hours per pay period. If you pay more than a standard pay period
in one paycheque, you will need to manually adjust this figure.
For example, for 2 fortnightly pay periods on one paycheque, you
would double it to 12.308 hours.
B
If you want the entitlement amount to appear on the paycheque,
select the Print on Pay Slip option.
C
If you want to carry over any entitlement leave balance from the
previous year, select the Carry Remaining Leave Over to Next Year
option.
D
Each entitlement category must have a Linked Wages Category. For
example, the Holiday Leave Entitlement could be linked to the
Holiday Pay wage category and the Sick Leave Entitlement could be
linked to the Sick Pay wage category. If you create a new entitlement,
you must link it to a wage category.
When employees use their entitlement, for example, by taking a
holiday, you allocate the hours taken against the linked wage category
(in this example, the holiday pay wage category). The employee’s
accrued leave balance is reduced by the hours taken.
Note that you can link multiple wage categories to an 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 is 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.
•
This option 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 the wage category on which the calculation is to be
based. Alternatively, you can select Gross Wages, which totals all
wage categories (hourly and salary) you pay an employee.
•
This option 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 is one of the following choices:
• No Limit signifies no limit to the amount of money that can be
deducted from the employee’s paycheque for this category.
•
This option 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. Alternatively, you
can select Gross Wages, which totals all wage categories (hourly
and salary) you pay an employee.
•
This option results in the
maximum deduction being a fixed 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
103
Employer Expense Information window
E
A
B
C
D
E
Expense 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 paycheque with gross wages of £1,000 yields an
expense of only £20 (i.e. 2%). The limit must be one of the following:
• No Limit signifies no limit to the expense for this category.
•
This option 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.
•
This option results in the maximum
expense being a fixed 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.
Editing payroll categories
A
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.
B
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 will be accruing NIC expense, we recommend that you set up a
NIC expense account and a NIC liability account in your accounts list
and link your employer expense to these accounts.
C
If you want amounts you have paid to appear on employees’ cheque
stubs or pay advices, select the Print on Pay Slip option. (This is
mandatory for NIC.)
D
104
To edit a payroll category
NOTE : Payroll category already linked to employee cards If you
edit a payroll category that is already linked to employee cards, any
changes you make will apply to all employee cards linked to that
category.
1
Go to the Payroll command centre and click Payroll
Categories. The Payroll Category List window appears.
2
Click the tab corresponding to the type of payroll category
you want to edit—Wages, Entitlements, Deductions or
Expenses.
Expense Basis can be:
•
This option 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).
This expense will be charged until the expense limit is reached.
•
This option allows you to enter the
specified amount per pay period, per month or per year until the
limit is reached.
You can only view tax categories You cannot create
or edit tax categories. To view the tax table information, click
the Taxes tab and then click the zoom arrow ( ) next to the tax
you want to view. Any queries about tax rates should be referred
to HM Revenue & Customs.
NOTE :
3
Click the zoom arrow ( ) next to the payroll category you
want to edit. The information window for that category
appears.
4
Edit the payroll category details as required and click OK.
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PAYING YOUR EMPLOYEES
Creating employee cards
To create an employee card
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click New. The Card Information window appears.
3
Select Employee in the Card Type field.
4
Type the employee’s last name and press TAB.
5
Type the employee’s first name and their contact details.
6
Select the currency in which you pay the employee.
7
[MYOB Accounting Plus only] If you want to enter payroll
information, continue with step 4 in ‘To enter payroll
information for an employee’, below.
8
Click OK and then click Close to exit the Cards List window.
2
Click the Employee tab and select an employee.
3
Click Edit. The Card Information window appears.
4
Click the Payroll Details tab in the Card Information
window and enter the employee’s personal details.
Entering employee payroll information
Once you have created payroll categories (see page 100) and an
employee card, you can enter the employee’s payroll
information.
Restrict access to employee information User IDs can be set
up to restrict access to employee payroll, banking and contact
information stored in the card file and in reports. You can select
broad restrictions, such as disallowing access to the employee
card file, or you can set specific restrictions, such as viewing
employee banking details. If you want to prevent a user from
editing and viewing all payroll details, you need to restrict access
to payroll reports as well as to employee card information and
Payroll command centre functions. You can set these restrictions
in the access profile of each user ID. For more information, see
‘Managing user accounts’ on page 257.
To enter payroll information for an employee
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
CREATING EMPLOYEE CARDS
105
Enter wage information
5
Click Wages and enter the wage information for this
employee.
a Select the employee’s pay basis. When you select a pay
basis— hourly or salary—the corresponding wage category
is automatically selected in the Wage list below.
b Enter 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.
e If the employee’s wage expense account is different from
the default account, type or select the required account in
the Wages Expense Account field.
f Click in the select column ( ) next to each wage category
that applies to the employee.
7
Click Deductions and click in the select column next to each
deduction that applies to the employee.
8
Click Employer Expenses and click in the select column next
to each expense that applies to the employee.
Enter tax information
9
Click Taxes and enter the employee’s National Insurance (NI)
and tax details.
a Enter the employee’s NI number, table letter and tax code.
b If the employee’s tax is calculated on the amount earned in
a pay period rather than on a cumulative basis (the
standard basis), select the Week 1/Month 1 option.
c If the employee is a director and their National Insurance
contributions are calculated on a cumulative basis, select
the Director option and enter the tax week they became a
director.
d Click in the select column next to each tax category that
applies to the employee.
Enter Entitlement, deduction and expense information
6
106
Click Entitlements and click in the select column next to each
entitlement that applies to the employee.
Enter recurring pay details
10
Click Recurring Pay. The employee’s default paycheque
details appear. The default values are determined by the
CHAPTER 7
PAYING YOUR EMPLOYEES
payroll categories selected and values entered step 5 to
step 9 above.
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 paycheque. Calculated values include tax
amounts and entitlement hours where hours are calculated
as a percentage of the gross hours paid.
NOTE :
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.
Enter pay history information
11
You have several options in the Recurring Pay section:
„ If you want to pay employees from timesheet entries only,
deselect the Use Recurring Pay values in addition to
Timesheet for Pay Calculation option.
„
Note that this option only appears if you selected the I use
Timesheets […] option in the System tab of the
Preferences window. For more information, see ‘Set up
preferences’ on page 29.
If you want to, change the employee’s default paycheque
details by overriding the values that appear in the Hours or
Amount column next to a payroll category.
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.
Enter time billing information
12
ENTERING EMPLOYEE PAYROLL INFORMATION
Click Pay History to enter the employee's pay history for the
current payroll year:
„ If the employee has been paid by another employer this
payroll year, enter the details in the Previous
employments pay and Previous employments tax fields.
„ If you have already paid the employee in the current
payroll year, type the amounts you have paid in the
Activity column next to the relevant payroll categories.
You can enter pay history for specific months, quarters or
for the year to date based on the selection you make in the
Show Pay History for list.
If you use the Time Billing function to record the time an
employee spends on work for clients and customers, click
Time Billing and enter the employee’s time billing rate and
cost per hour. For more information, see Chapter 8, ’Billing
for time,’ starting on page 125.
107
Enter payment method information
13
14
If you are paying employees using NatWest’s AutoPay service
or Barclays’ Branch-Originated BACS service (BOBS), enter
the employee’s bank account details.
15
Click OK. The Cards List window appears.
16
Repeat this procedure from step 2 for each employee.
Click the Banking Details tab and select the method you use
to pay the employee in the Payment Method list.
Timesheets
Timesheets are used to record hours worked by hourly employees
and form the basis of their pays. 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. See ‘To set
up timesheets’ below.
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.
You can pay employees from timesheets only or in addition to
recurring pay details. For more information, see step 10 in ‘Enter
recurring pay details’ on page 106.
When you record timesheet information for a pay period, you
include the timesheet details in employee pays. For more
information, see ‘Processing your payroll’ on page 110.
You can also 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 130.
108
CHAPTER 7
PAYING YOUR EMPLOYEES
To enter a timesheet
4
Each hourly employee has a weekly timesheet. For each
employee, you enter weekly timesheet hours in the Enter
Timesheet window.
1
2
Go to the Time Billing command centre 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.
Grey values in date fields
indicates hours paid.
NOTE :
3
A grey value in a date field
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
TIMESHEETS
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 annualised
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.
109
2
Removing timesheet entries You can remove unpaid
entries on a timesheet at any time. For more information, see
‘Delete timesheet entries’ below.
NOTE :
6
Click Close.
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
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
Go to the Edit menu and choose Delete Line.
View timesheet reports
1
Go to the Reports menu and select Index to Reports.
2
Click the Payroll tab and select:
„ the Timesheets report to view all timesheets entered for a
specific date range.
„ the Unprocessed Timesheets report to view all
unprocessed timesheets.
For information about how to view and customise reports,
see ‘To display and print a report’ on page 191.
In the Enter Timesheet window, select the required week.
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 the payroll process again.
110
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.
CHAPTER 7
PAYING YOUR EMPLOYEES
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 centre and select Process
Payroll. The Select Pay Period 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.
„ 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.
3
In the Payment date field, type the date on which you are
processing the pays.
4
In the Pay period start field, type the first day of the pay
period.
5
In the Pay period end field, type the last day of the pay
period.
6
If you do not use timesheets, click Next and then continue
with ‘Select and edit employee’s pay’ on page 112.
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 begin processing your
employees’ pays, you need the following information:
„
the hours worked by hourly employees, if you do not record
hours worked on a timesheet
„
holiday and sick pay hours taken
„
details of any other wage amounts, such as sales commissions
and bonuses.
Task
See
1
Select the pay period
below
2
Include employee timesheets
page 112
3
Select and edit employee’s pay
page 112
4
Record the employee paycheques
page 115
5
Process payments
page 115
6
Print payroll earnings
page 117
7
Print/email pay slips
page 117
PROCESSING YOUR PAYROLL
111
Task 2: Include employee timesheets
1
If you pay employees from timesheets, the Select Pay Period
window displays the employee timesheets for the specified
pay period.
Task 3: Select and edit employee’s pay
The Select & Edit Employee’s Pay window displays the recurring
pay details and the timesheet amounts (if applicable) for
employees who are paid according to the selected pay frequency.
Initially, all the timesheets are selected to be included in this
pay run. You can exclude, change or view timesheet details as
described below.
If you want to...
you need to....
Exclude a timesheet
clear the select column (
Change the timesheet
details of an employee
click the zoom arrow (
) next to the
employee’s name and make the
required changes in the Enter
Timesheets window.
View the details of all
unprocessed
timesheets
2
112
) next to it.
1
If you want to exclude an employee from the pay run, clear
the select column ( ) next to the employee’s name.
2
If you want to change the pay details for an employee, click
the zoom arrow ( ) next to the employee’s name. In the Pay
Employee window that appears, you can:
„ change the hours worked of an hourly employee (see
page 113)
„ distribute holiday and sick pay (see page 113)
„ distribute any other types of wages (see page 114)
„ assign job numbers to payroll category amounts (see
page 114)
„ change the employee’s bank account (see page 115).
3
If you want to view the pay details for all employees before
you record their paycheques, click Preview Pay Details. The
Payroll Verification report appears. For more information on
report options, see ‘Producing reports’ on page 191.
click Display Unprocessed Timesheets.
Click Next to continue. The Select & Edit Employee’s Pay
window appears.
CHAPTER 7
PAYING YOUR EMPLOYEES
To change hours worked for an hourly employee
To record holiday and sick pay
You may need to change the standard hours worked by an
employee if they are not being paid for a full pay period, for
instance, if their employment has terminated are they have only
worked a portion of their usual hours.
NOTE : Holiday and sick pay hours recorded on a timesheet If
you’ve entered holiday and sick hours on a timesheet, you don’t
need to use this procedure.
Editing hours recorded on a timesheet You can edit an
employee’s timesheet hours in the Pay Employee window.
However, any adjustments you make here will not update hours
entered on timesheets, timesheet reports or activity slips.
NOTE :
1
1
In the Select & Edit Employee’s Pay window, click the zoom
arrow ( ) next to the employee’s name. The Pay Employee
window appears.
2
Enter the number of sick or holiday hours in the Hours
column of the appropriate wage category and press TAB.
In the Select & Edit Employee’s Pay window, click the zoom
arrow ( ) next to the employee’s name. The Pay Employee
window appears.
The amount for this wage category is calculated and the Base
Hourly (or Base Salary) wage category details are adjusted.
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 101.
NOTE :
For example, if you are recording eight hours of holiday leave
for an hourly employee, type 8 in the Hours column next to
the Holiday 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.
2
Change the hours worked for the applicable wage categories
and press TAB.
3
The payroll category amounts are calculated automatically
and are displayed in the Amount column.
4
Click OK. The Select & Edit Employee’s Pay window
reappears.
PROCESSING YOUR PAYROLL
Note that when you record the transaction, the number of
hours paid will be automatically subtracted from the number
of hours the employee has accrued.
3
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.
113
3
Click OK. The Select & Edit Employee’s Pay window
reappears.
To assign jobs to payroll category amounts
Job numbers can be assigned to payroll category amounts to
track the wage expense of work performed. You can assign one
or more jobs to each payroll category.
1
In the Select & Edit Employee’s Pay window, click the zoom
arrow ( ) next to the employee’s name. The Pay Employee
window appears.
2
Enter 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 enter the
amount in the Amount column.
c Click OK. The Pay Employee window appears.
b Record the leave details.
c Click OK.
4
Click OK. The Select & Edit Employee’s Pay window
reappears.
To record other types of pay
Other types of pay recorded on a timesheet If you’ve
entered other types of pay—such as sales commissions and
bonuses—on a timesheet, you don’t need to use this procedure.
NOTE :
Changes to payroll category amounts may affect
allocated job amounts If you change a payroll category
amount, this may affect the value of other payroll categories
such as National Insurance. If you’ve already allocated job
amounts to these categories, you need to reallocate the correct
job amounts to them.
NOTE :
Before you enter these details, the wage categories you intend to
use should already be assigned to the employee. For more
information, see ‘To enter payroll information for an employee’
on page 105.
1
2
114
In the Select & Edit Employee’s Pay window, click the zoom
arrow ( ) next to the employee’s name. The Pay Employee
window appears.
In the Hours or Amount fields next to each appropriate wage
category, enter the hours or amounts you want to record.
4
Click OK. The Select & Edit Employee’s Pay window
reappears.
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 105.
CHAPTER 7
PAYING YOUR EMPLOYEES
To change an employee’s bank account details
If you pay your employees using NatWest’s AutoPay service or
Barclays’ Branch-Originated BACS service (BOBS), you can
change an employee’s bank account details for this pay.
1
In the Select & Edit Employee’s Pay window, click the zoom
arrow ( ) next to the employee’s name. The Pay Employee
window appears.
2
Click Banking Details and enter the required bank details in
the Banking Details window that appears.
3
Click OK. A confirmation message appears.
4
If you want to update the employee’s bank details for all
subsequent pays, click Yes. The Pay Employee window
reappears.
5
Click OK. The Select & Edit Employee’s Pay window
reappears.
Task 4: Record the employee paycheques
1
2
When you have finished reviewing and editing employee pay
details, click Record to record the pays. A confirmation
window appears.
Click OK to continue. The Process Payments window
appears.
PROCESSING YOUR PAYROLL
NOTE : Changing the details of a recorded paycheque If you
need to change a recorded paycheque, continue processing your
payroll. When you have finished processing, reverse or delete the
incorrect paycheque transaction and then process a new pay for the
individual employee. For more information on reversing or deleting
a transaction, see ‘Changing or deleting a transaction’ on page 183.
Task 5: Process payments
In the Process Payments window you can:
„
print employee paycheques (see page 116)
„
generate a payment report for employees paid using
NatWest’s AutoPay service or Barclays’ Branch-Originated
BACS service (BOBS) (see page 116)
„
create a spend money transaction to clear the account you
use to temporarily hold cash wage amounts (see page 116).
115
If you want, you can generate the payment reports later using the
relevant command centre function. For example, if you want to
include weekly and monthly payments in the one payment
report, process both pay frequencies and then generate the
required payment report from the Index to Reports window.
To print paycheques
1
Click Print Paycheques. The Review Cheques Before
Printing window appears.
5
Click in the select column (
want to print.
) next to each paycheque you
6
If you want to view the details of a particular paycheque.,
click the zoom arrow ( ) next to it.
7
Click Print. The Print window appears.
8
Click Print or OK. The Process Payments window reappears.
To generate an electronic payments report
1
Click one of the following:
„ Display Autopay Report if you pay your employees using
Natwest’s Autopay service
„ Display BOBS Report if you pay your employees using
Barclays’ Branch-Originated BACS service (BOBS).
The Print window appears.
2
In the Print window, click Print or OK to print the report. The
Process Payments window reappears.
To create a cheque transaction to record cash wages
2
116
If you print cheques on pre-printed forms, type the number of
the first cheque in the Number of First Cheque in Printer
field.
3
Select how many copies you want to print in the Print [...]
Copies of Each Selected Cheque field.
4
If you want to change the type of information you are going
to print or the type of stationery it will be printed on, click
Advanced Filters. For more information, see ‘Advanced
filters’ on page 205.
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.
2
In the Account field, select the bank account from which you
withdrew the cash wage amount.
3
Click Record to clear the balance of the cash wage clearing
account. The Process Payments window reappears.
CHAPTER 7
PAYING YOUR EMPLOYEES
Task 6: Print payroll earnings
Task 7: Print/email pay slips
When you have finished printing cheques and generating
payment reports, click Next. The Print Employee Pay Slips
window appears.
You can also provide employees with details of their pay by
printing or emailing pay slips. You can print or email pay slips
from the Print Employee Pay Slips window.
NOTE : If you pay employees by cheque If you pay employees by
cheque, and you printed a paycheque in Task 5, the pay details for
these employees are already included on their pay slip. You do not
need to do this step.
You can provide your employees with details of their pay by
printing the Payroll Earnings report.
If you pay employees by cheque If you pay employees by
cheque, and you printed a paycheque in Task 5, the pay details for
these employees are already included on their pay slip. You do not
need to do this step.
NOTE :
You can also provide your employees with details of their pay by
printing the Payroll Earnings report (see above).
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 Payroll Earnings report is printed and
the Report Display window reappears.
4
Click Close. The Print Employee Pay Slips window
reappears.
PROCESSING YOUR PAYROLL
117
To print pay slips
1
118
To email pay slips
Click Print/Email Pay Slips. The Review Pay Slips Before
Delivery window appears.
2
Click the To Be Printed tab.
3
Type the number of pay slips you want to print per employee
in the Print field.
4
If you want to customise or filter the information, or to
change the type of form it will be printed on, click Advanced
Filters. For more information, see ‘Advanced filters’ on
page 205.
5
Click in the select column (
printing pay slips for.
6
Click Print.
7
If you have completed processing your employee’s pay, click
Finish to exit the Process Payroll Assistant.
1
Click Print/Email Pay Slips. The Review Pay Slips Before
Delivery window appears.
2
Click the To Be Emailed tab.
3
Click in the select column ( ) next to the employees you to
whom you want to email pay slips.
4
If you want to change an employee’s email address, select the
employee’s name and type a different address in the Email
Address field.
5
Type the subject title and message of the email or accept the
default subject and message. If you want to change the
default message, click Email Defaults and make the changes
as appropriate.
6
If you want to customise or filter the information, or to
change the type of form that will be sent, click Advanced
Filters. For more information, see ‘Advanced filters’ on
page 205.
7
Click Send Email.
8
If you have completed processing your employee’s pay, click
Finish to exit the Process Payroll Assistant.
) next to the employees you are
CHAPTER 7
PAYING YOUR EMPLOYEES
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, union fees and taxes.
By default, all payroll categories for the selected liability type
are included in the payment.
5
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 Click the select column ( ) next to each payroll category
you want to exclude.
c Click OK. The Pay Liabilities window reappears.
6
In the Dated From and the Dated To fields, enter the period
in which the payroll liabilities were withheld.
In MYOB software, payroll liabilities are recorded when you
process your payroll. You need to clear these amounts. You can
do this by recording the payment in the Pay Liabilities window.
To record payroll liability payments
1
Go to the Payroll command centre and click Pay Liabilities.
The Pay Liabilities window appears.
The payroll liabilities withheld during the specified period
appear in the Payroll Category section.
7
Click in the select column next to the payroll liability amounts
you want to include with this payment.
The total of the selected payroll liabilities appears in the Total
Payment fields.
8
2
In the Account field, type or select the account you are
making the payment from.
3
In the Supplier field, type or select the authority or agency to
whom the withheld amount is being paid.
4
Select the type of liability to be cleared from the Liability
Type list.
PAYROLL LIABILITIES
Click Record.
119
Processing termination payments
Before you terminate an employee’s employment, you need to
calculate any termination amounts you owe—for example, how
much you owe the employee in accrued holiday pay.
5
Before you begin this procedure, check the relevant government
legislation or employment contract for exact details of what
needs to be paid to the employee on leaving your company.
Task 2: [Optional] Create payroll
categories for termination payments
1
Determine any outstanding entitlements
below
2
[Optional] Create payroll categories for
termination payments
below
3
Process a paycheque for the final pay
page 121
4
Terminate the employee in the Card File
page 122
If a termination amount needs to be taxed at a different rate—for
example, unused holiday pay—you need to create a new payroll
category for this amount. Also, to pay an entitlement balance
(such as unused holiday leave) you may need to create a payroll
category to accrue the entitlement by calculating leave based on
a percentage of gross hours. However, if you use this payroll
category for a termination payment, you need to exclude the
new payroll category from accruing leave.
5
Print the employee’s P45
page 122
1
Go to the Payroll command centre and click Payroll
Categories. The Payroll Category List window appears.
2
Click the Wages tab.
3
Click New. The Wages Information window appears.
4
Type the name of the wage category in the Wages Name
field. For example, if you need to create a wage category for
unused holiday pay, type a name such as Unused Holiday Pay.
Task
See
Task 1: Determine any outstanding
entitlements
120
Click Display. The ending entitlement balance at that date
appears.
1
Go to the Index to Reports window and select the
Entitlements Balance Detail report from the Payroll tab.
2
Click Customise. The Report Customisation - Balance
Detail window appears.
3
In the Employees field, type or select the employee’s name.
4
In the Advanced Filter view, filter the report up to the current
date.
CHAPTER 7
PAYING YOUR EMPLOYEES
5
Select Hourly as the type of wages.
6
Click Employee. The Linked Employee window appears.
7
In the select column (
leaving.
8
Click OK and then OK again. The Payroll Category List
window reappears with the new payroll category in the list.
), click next to the employee who is
Exclude payroll category from accruing leave
9
Click the Entitlements tab. The list of entitlement payroll
categories appears.
10
Select the payroll category used to calculate the entitlement,
for example, Holiday Entitlement, and click Edit. The
Entitlements Information window appears.
11
Click Exempt. The Entitlements Exemptions window
appears.
PROCESSING TERMINATION PAYMENTS
12
In the select column, click next to the payroll category name
entered at step 4.
13
Click OK and then OK again. The Payroll Category List
window reappears.
14
Repeat step 2 to step 13 for each required termination payroll
category.
Task 3: Process a paycheque for the final
pay
1
Go to the Payroll command centre and select Process
Payroll. The Select Pay Period window appears.
2
Click Process individual employee and select the employee
in the adjacent field.
3
Click Next. The Select & Edit Employee’s Pay window
appears.
4
If you are including any unused entitlements in this
paycheque, enter the entitlement hours:
a Click the zoom arrow ( ) next to the employee’s name.
The Pay Employee window appears.
b Add any entitlement hours accrued in the final pay period
to the outstanding entitlement balance calculated in
‘Determine any outstanding entitlements’ on page 120
121
and type the total balance calculated in the Hours column
for each required wage category.
For example, if you are paying unused holiday pay, add the
holiday entitlement hours accrued in the final pay period to
the outstanding holiday leave balance.
5
Click OK. The Select & Edit Employee’s Pay window
appears.
6
Complete the remaining steps of the Process Payroll
assistant for the employee termination. For more information,
see ‘Task 4: Record the employee paycheques’ on page 115.
Task 4: Terminate the employee in the
Card File
Task 5: Print the employee’s P45
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Click the Payroll tab. The list of payroll reports appears.
3
Select the P45 Details of employee leaving work report and
click Customise. The Report Customisation - P45 Details of
employee leaving work window appears.
4
In the Employees field, type or select the name of the
employee who is leaving.
5
Click Display. The P45 report appears.
6
Click Print.
Once you have finalised the employee’s terminating paycheque,
thus finalising the employee’s leave entitlements, you need to
enter a date in the Leaving Date field in the Payroll Details tab
of the Card Information window.
Once you press ENTER or TAB after entering the leaving date, the
system will display a message warning you that all entitlement
balances will be cleared for that employee.
122
CHAPTER 7
PAYING YOUR EMPLOYEES
Reviewing payroll information
There are several tools that you can use to review your payroll
information.
amounts posted to the accounts. Instead, make adjusting entries
on the employee’s next paycheque.
Tool
Description
See
To view an employee’s pay history
Pay history
View an employee’s pay history.
below
1
Entitlement
balance
View an employee’s entitlement
balance and the dates when leave was
taken.
page 124
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the Employee tab and select the employee whose pay
history you want to view.
Analyse
Payroll
window
Use the Analyse Payroll window to
view a summary of an employee’s
payroll data. It can help you detect
possible inaccuracies in the amounts
you’re paying to, and deducting from,
your employees.
page 124
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.
Review payroll
liabilities
Use payroll liability reports to view
payroll details.
page 124
Find
Transactions
window
Use the Find Transactions window to
search for an account, card or payroll
category.
page 179
6
Select a pay history period from the Show Pay History for
list.
Viewing pay history
Every time you process and 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 paycheque or the
REVIEWING PAYROLL INFORMATION
123
Viewing an employee’s entitlement
balances
The Entitlements section in the Payroll Details tab of an
employee’s card displays the entitlement amounts that have
been carried over from the previous payroll year, the entitlement
amounts for the year to date, and the total entitlement amounts
owing to the employee.
For example, an employee may have 40 hours of accrued Holiday
Entitlement carried over from the last payroll year. In the current
financial year the employee has accrued 10 hours of Holiday
Entitlement but has taken 8 hours of holiday leave. Therefore,
2 hours will be displayed in the Year-to-Date column. The Total
column for the Holiday Entitlement will display 42 hours.
Analysing payroll
The Analyse Payroll window provides details of payroll
information and can help you spot possible inaccuracies in the
amounts you are paying to, and withholding from, your
employees.
1
Go to the Payroll command centre and click Analysis. The
Analyse Payroll window appears.
2
Enter the employee’s name and the pay period you want to
analyse. The Payroll Summary appears on the left of the
window, with the totals for the selected pay period. The
payroll details on the right of the window show the wages,
deductions, tax, entitlements, and employer expenses for
which the employee has been paid, or which have been
recorded on their paycheque for the selected pay period.
To view an employee’s entitlement balances
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the Employee tab and select the employee.
3
Click Edit. The Card Information window appears.
4
Click the Payroll Details tab.
5
Click Entitlements. The Entitlements section displays the
total number of hours an employee is entitled to take as sick
and holiday pay.
6
If necessary, enter the entitlement hours carried over from a
previous period in the Carry Over column next to the
entitlement category.
7
124
Click OK and then click Close.
Reviewing payroll liabilities
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.
„
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.
CHAPTER 7
PAYING YOUR EMPLOYEES
Billing for time
BILLING FOR TIME
8
Time billing is only available in MYOB Accounting Plus.
The time billing feature allows you to track the time spent by employees and suppliers 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
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.
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 £40 per hour and photocopying at 8 pence per
copy. You can also specify billing rates based on an hourly
charge-out rate for a particular employee or customer. For
example, the employee John Smith’s hourly consulting rate may
be £60 per hour and subcontractor Acme Industries’ charge-out
rate may be £80 per hour. You can even set an underlying cost to
the activity where, for example, you estimate that the hourly cost
to employ John Smith is £45 per hour and Acme is £60 per hour.
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.
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.
The time billing feature makes it easy to enter and collate the
activities undertaken for customers. The activities can be entered
individually or grouped together on activity slips. You can then
generate time billing invoices, ready to send to your customers.
125
Setting time billing preferences
You need to set preferences before you can start billing for time.
126
Preference
Description
Time billing
units
Set this preference if you want to track billable time in
units of 1, 6, 10, 12, 15 or 30 minutes. The unit of time
you select 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. Any activity slips you have
already created will be updated to use the special billing
unit of time.
Rounding
If you use the activity slip timer, you can to set a
preference for how you want units of time to be
rounded.
Choose to round up to next, down to previous or to
nearest. For example, if you chose up to next and are
using 30-minute billing units, 10 minutes would be
rounded up to 30 minutes on an activity slip. Or, if you
chose to nearest and are using 30 minute billing units,
15 minutes would be rounded up to 30 minutes.
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 enter 1 in the Minute
Increment field. That way, if you clock 21 minutes and
32 seconds of an activity, 22 minutes will be entered
automatically in the Units field.
Note: If you specify a special time billing unit, the
Minute Increment field will not be displayed as part of
the rounding rule option.
Preference
Description
Include
Items
This preference allows you to include items on a time
billing invoice and charge your customers for both
activities and items on a single invoice. If you set this
preference, the selection list that appears when
entering a time billing invoice includes both your
activities and items.
Note that the I Sell This Item option must be selected
in the Item Information window before you can
include an item on a time billing invoice.
Timesheets
This preference allows you to include time billing and
activity slip information in an employee’s paycheque,
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.
3
Select the required time billing preferences and options.
4
Click OK.
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 be a rate set for the
customer, employee, supplier, or for the activity itself. You can
still override these rates when you create the activity slip.
1
Display the Card Information window for the relevant
customer and click the Selling Details tab.
2
Enter the hourly billing rate, excluding tax, for the customer
in the Customer Billing Rate field and 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 supplier who
performed the activity. The billing rate for an activity is set in the
Activity Information window. See ‘Creating activities’ on
page 128.
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.
To set the activity to use the customer’s billing rate, see ‘To
create an activity’ on page 128.
To set a billing rate for a supplier or employee
You can set a billing rate for an employee or supplier on their
card. This option allows you to bill an activity at different rates
according to the employee or supplier performing the activity.
You can also track the costs associated with having the activity
performed. This is particularly useful if you are subcontracting
work to a supplier.
SETTING BILLING RATES
127
1
Display the Card Information window of the supplier or
employee and then do the following:
„ Supplier cards—click the Buying Details tab
„ Employee cards—click the Payroll Details tab and then
click Time Billing.
2
Enter the hourly billing rate, excluding VAT, for the supplier or
employee in the Supplier Billing Rate field or the Employee
Billing Rate field.
3
In the Cost per Hour field, enter the hourly cost to you of
having the supplier or employee perform the activity.
4
Click OK.
3
In the Profile view, enter a unique identification code for the
activity in the Activity ID field and press TAB.
4
In the Activity Name field, type a name for the activity.
5
Enter a description of the activity in the Description field.
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
128
1
Go to the Time Billing command centre and click Activities
List. The Activities List window appears.
2
Click New. The Activity Information window appears.
CHAPTER 8
BILLING FOR TIME
6
If you want the description of the activity to appear (instead
of 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 status
of the activity (Chargeable or Non-chargeable) by selecting
the relevant options in the table below.
For this
type
and this status
Do this...
Hourly
Chargeable
Choose the billing rate you
want to use by selecting the
appropriate option. The rate
is the price you charge for
one unit of the activity. You
can:
• use the rate you set up on
the employee or supplier
card
• use the rate you set up on
the customer card
• enter a rate for this activity
only. Enter the rate in the
Activity Rate field.
Non-hourly
8
In the Income Account field, select the account you want to
use to track the income you receive for this activity.
9
In the VAT Code When Sold field, type or select the VAT code
that you want to appear by default when you create a sales
invoice for this activity.
10
Click OK. The new activity is listed in the Activities List
window.
To change, inactivate or delete an activity
Non-Chargeable
Go to step 10.
Chargeable
Enter a unit of measurement
in the Unit of Measurement
field and activity rate in the
Activity Rate field.
Non-Chargeable
Specify the unit of
measurement in the Unit of
Measurement field and then
go to step 10.
„
To change details of an activity, see ‘Changing a record’ on
page 173.
„
To inactivate an activity, see ‘Inactivating or reactivating a
record’ on page 174.
„
To remove an activity from your records, see ‘Deleting a
record’ on page 174.
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.
CREATING ACTIVITIES
129
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
your customer. You can invoice the full amount for the activity or
invoice part of it, leaving the balance for a later date.
To create an activity slip
1
Go to the Time Billing command centre and click Enter
Activity Slip. The Enter Activity Slip window appears.
2
Enter details about the activity such as the employee name,
the customer name, the activity ID number and the number
of units to be charged.
Time billing gives you three options for creating an activity slip:
„
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 for an employee, while not
entering quite 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 on timesheets, see ‘Timesheets’ on
page 108.
When you create an activity slip, you can select two cards—one
for the employee or supplier who performed the activity for your
company and the other for the customer for whom your
company performed the activity. If you are creating an activity
slip for a chargeable activity, you must enter both cards.
If you pay employees for time billing activities performed, you
can automatically create a timesheet entry when you select the
Include Hours on Timesheet option on the activity slip, and
assign an hourly payroll category. You can also record activity
hours in the Enter Timesheet window. For more information on
timesheets, see ‘Timesheets’ on page 108.
130
Units refers to time billing units The Units field shows
time billing units as you have set them up in the System tab of
the Preferences window. Therefore, one billable unit of 15
minutes will need to be entered as four billable units to make
one hour.
NOTE :
3
In the Adjustment fields, enter any adjustments to the hours
or the amount of the activity. You need to enter adjustment
units or amounts as negative numbers if you want to indicate
fewer hours or a lesser amount.
CHAPTER 8
BILLING FOR TIME
If you change the view, the activity slip will be
recorded If you click the Multiple Activity Slips tab while
creating an activity slip and you entered the minimum required
information in the Activity Slip view, the activity slip will be
recorded before the new tab appears.
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 ‘Processing
your payroll’ on page 110.
NOTE :
4
In the Already Billed field, enter any hours or amounts you
have already billed.
For example, if you have billed the customer on an invoice for
part of this activity, either enter the number of hours already
billed (and the amount field will automatically update) or the
amount you have already billed them for. Your entry is
subtracted from hours and amounts in the Billable fields. The
total units and amount that haven’t been 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 :
5
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.
CREATING ACTIVITY SLIPS
NOTE :
6
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 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
programs or access other windows during this time.
1
Go to the Time Billing command centre and click Enter
Activity Slip. The Enter Activity Slip window appears.
2
Enter the employee name, date and customer name.
3
In the Activity field, type or select an hourly activity. 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.
131
Entering a start time that is before the current system
time If you enter a start time that is before the current system
time, the difference will be added to the elapsed time measured
by the timer. For example, if you entered 8:00 a.m. in the Start
Time field and then clicked Start at 9:00 a.m., 1:00:00 will
appear in the Elapsed Time field and the time calculated by the
timer will be added to that amount.
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 108).
NOTE :
NOTE :
8
Leave the Enter Activity Slip window open as you perform
the activity.
5
When you have completed the activity or want to pause the
timer, click Stop. The current system time appears in the Stop
Time field. The number of billing units corresponding to the
elapsed time appears automatically in the Units field.
You can edit the start and stop times if you want. The entries
in the Actual Units and Elapsed Time fields will be updated
automatically.
You can round your timer entries in the Units field
automatically. See ‘Setting time billing preferences’ on
page 126.
6
If you want to resume timing an activity, click Start again. The
entry in the Stop Time field will be cleared. The timer will
continue incrementing, starting from your current elapsed
time.
7
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 that appears.
The activity hours (units) recorded for this activity are
assigned to this payroll category on the employee’s
timesheet.
132
When you have completed the timed 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.
Creating multiple activity slips
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.
NOTE : The Multiple Slip tab can’t be used to add activity hours
to a timesheet. You can add activity hours to a timesheet only by
entering activity slips using the Activity Slip tab of the Enter
Activity Slip window or by entering activity hours directly into the
timesheet. In the Multiple Activity Slips tab, you can’t select a
payroll category or choose to include an activity’s hours on a
timesheet. Multiple activity slip entry should be used only for
activities that are not used for payroll.
CHAPTER 8
BILLING FOR TIME
To create multiple activity slips
1
Go to the Time Billing command centre and click Enter
Activity Slip. The Enter Activity Slip window appears.
2
Click the Multiple Activity Slips tab.
3
In the Employee (or Supplier) field, type or select the name
of the employee (or supplier) performing the activity. Any
historical activity slips you have already created for the
employee or supplier are listed, with each line representing a
single activity slip.
4
On the first blank line, enter details of the activity slip you
want to create.
5
Press TAB or click Record to record the activity slip and move
the insertion point to the next line where you can begin
creating a new activity slip.
Activity slips are recorded as you create them on a
line-by-line basis Once you have entered an activity slip and
pressed TAB to move to the next line, the activity slip is recorded.
If you click Cancel after moving to the next line, the previous
activity slip is still recorded. A white zoom arrow ( ) displayed
next to an activity slip indicates that the activity slip has been
recorded.
NOTE :
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.
Reviewing and changing activity slips
You can review, change or delete activity slips.
To change an activity slip
To review an activity slip
1
Find the activity slip you want to change in the View Activity
Log window and then click Edit. The Enter Activity Slip
window appears.
2
Make the required changes either in the Activity Slip view or
the Multiple Activity Slips view and click OK or Record.
1
Go to the Time Billing command centre and click Activity
Log. The View Activity Log window appears.
2
Enter the name of the employee or supplier who performed
the activity and, if you know it, the date range within which
the activity was recorded. All activities that match the criteria
are listed.
3
4
If you want to display information about the activity slip, click
the Diary View tab and the Detail View tab.
If you want to view the activity slip in the Enter Activity Slip
window, click the zoom arrow ( ) next to it.
REVIEWING AND CHANGING ACTIVITY SLIPS
To delete an activity slip
You can only delete an activity slip that has not been billed.
1
Find and select the activity slip you want to delete in the View
Activity Log window. See ‘To review an activity slip’ above.
2
Go to the Edit menu and choose Delete Activity Slip.
133
Deleting activity slip details in timesheets When you
remove timesheet entries with activity slip details, the linked activity
slip is also removed.
NOTE :
Creating time billing invoices
There are two ways of creating 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’
below.
In the Sales window. Use this method if you don’t need to
record details of activities and activity slips or track work in
progress. See ‘To create a time billing invoice in the Sales
window’ on page 135.
3
Complete the invoice.
A
B
C
D
To create a time billing invoice using the Prepare Time
Billing Invoice window
The Prepare Time Billing Invoice window allows you to enter
and adjust the billing information for activity slips. As you make
changes in this window, your activity slip records are updated
automatically.
1
2
134
Go to the Time Billing command centre and click Prepare
Time Billing Invoice. The Time Billing Customers window
appears.
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 Filters
Use these filters to find the required activity
slip(s).
B Bill
Enter the amount or number of hours you want
to bill for each activity slip here. Any activity slip
with 0.00 units or £0.00 in the Left to Bill
column is considered billed in full.
C Adjustment
Enter any adjustments you want to make in this
column.
D Print
Options
Select the relevant option if you want to:
• sort activity slips according to job number
• consolidate all activity slips with the same
activity and job number on the invoice
• print the activity slip notes on the invoice.
CHAPTER 8
BILLING FOR TIME
4
Click Prepare Invoice. The Sales - New Time Billing window
appears displaying the details of the time billing invoice.
„
„
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 203.
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 185.
Saving time billing invoices as recurring You can
save time billing invoices as recurring invoices, but no activity
slips will be created when you use the recurring sale in the
future. Recording the recurring sale won’t update the activity
slips used to create the invoice in the Prepare Time Billing
Invoice window.
NOTE :
5
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 126.
Enter the following details for each sold item:
the date in the Date field
„ the quantity being sold in the Hrs/Units field
„ the item number in the Activity field or press TAB and select
the item from the list of items and activities that appears
„ the price of the item in the Rate field
„ the appropriate VAT code
„ [optional] the job number.
NOTE : Activities billed using this procedure will not appear in
most time billing reports No activity slip records will be created
if you use this method to create a time billing invoice. Most time
billing reports are based on activity slip records, therefore, if you
want to print time billing reports, you should create activity slips
(see page 130) 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 134).
Enter additional information about the sale, such as the
salesperson, referral source and delivery.
1
Go to the Sales command centre and click Enter Sales. The
Sales window appears.
2
In the Customer field, type or select the customer to invoice.
3
Click Layout. The Select Layout window appears.
4
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
„
6
Add lines, subtotals and headers to invoices 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. See ‘Adding and deleting transaction lines,
subtotals and headers in sales transactions’ on page 64.
NOTE :
7
To create a time billing invoice in the Sales window
Complete the invoice in any of the following ways:
„ Record the invoice. Click Record to record the invoice but
print it later.
CREATING TIME BILLING INVOICES
135
„
„
„
„
„
the activity name or press TAB in the Activity field and
select the required activity from the list
the rate charged for a single unit or hour of the activity in
the Rate field
[optional] the job number
the VAT code, if the activity is taxable
[optional] the category. The category field is displayed only
if the Turn on Category Tracking option has been selected
in the System tab of the Preferences window.
If you are invoicing for sold items, enter:
„ the date in the Date field
„ the quantity being sold in the Hrs/Units field
„ the item number in the Activity field or press TAB and select
the item from the list of items and activities that appears
„ the price of the item in the Rate field
„ the VAT code if the item is taxable
„ the job number.
6
Enter additional information about the sale, such as the
salesperson, referral source and comments.
Add lines, subtotals and headers to time billing
invoices If you want to group and subtotal the items and
activities separately on the invoice, you can insert headers, blank
NOTE :
lines and subtotals. See ‘Adding and deleting transaction lines,
subtotals and headers in sales transactions’ on page 64.
7
Complete the invoice in any of the following ways:
„ Record the invoice. To record the invoice without printing
it, click Record.
„ Print and record the invoice. To 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 203.
„ Save the invoice as a recurring transaction. You can save
the invoice as a recurring transaction so that you can use it
again in the future. 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 185.
Saving time billing invoices as recurring You can
save time billing invoices as recurring invoices, but no activity
slips will be 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.
NOTE :
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.
136
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.
CHAPTER 8
BILLING FOR TIME
Stock
STOCK
9
The stock feature enables you to track the quantity and value of the items you buy, sell and build. You can:
„
compensate for stock variations. For example, you may find
that, from time to time, your recorded stock levels differ from
what is on the shelves. These variations can be caused by
data-entry errors, spoilage and theft, etc.
„
revalue your stock. 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 stock 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
example, you need to record stock adjustments to write-off
damaged stock or to record a stocktake.
Before you begin to track your stock, you need to create a record
for each item of the stock. An item can be:
„
a physical unit that your company may buy, sell or stock
Select...
For...
„
a service that your company wants to include on item
invoices, for example, ‘Delivery’ or ’Handling’.
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
for which you don’t need to track quantities
and values. For example, items for office use
only.
It can also include raw materials you use as
components to build other stock items.
When you create an item record, you can choose to buy, sell or
stock 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 stock 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
137
Select...
For...
I Sell this Item
Items or services you want to include on an
item invoice.
I Stock 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.
5
Specify whether you buy, sell or stock 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
Stock opening balances If you have existing on-hand
quantities of stock items, you need to record the opening stock
level for each item. For more information, see ‘Enter stock
opening balances’ on page 40.
To create an item
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.
1
Go to the Stock Control command centre and click Items
List. The Items List window appears.
Asset Account for
Item Stock
Type or select the account you want to use
to record the total value of this item.
2
Click New. The Item Information window appears.
3
In the Item Number field, type a unique identifier and press
TAB.
Expense Account
for Tracking Costs
Type or select the account you want to use
to record costs associated with purchasing
this item.
Use the backslash character for service items The
backslash character (\) serves a special purpose: any item
number that begins with a backslash won’t appear on printed
forms. This is useful for service-type items (such as labour) for
which you don’t want to print an item number on the invoice.
TIP :
4
7
If you want to check the spelling in the Name field, click
Spell. For more information, see ‘Spell-check feature’ on
page 16.
In the Name field, type the name of the new item.
TIP : Copy From
To copy another item’s details to this item
record, click Copy From and choose the item whose
information you want to copy. All information for that item will
be copied to the current item record except the item number,
item name, supplier number, auto-build information and history
information.
138
CHAPTER 9
STOCK
8
If you buy this item, click the Buying Details tab and enter
your buying details.
A
D
[Optional] Enter the restocking information:
• Type the minimum level of this item you want to keep in
stock. When the quantity drops below this level, a re-order
reminder appears in the To Do List.
• Type or select the supplier from whom you usually re-order
this item.
• Type the supplier’s number for the item.
• Type a re-order quantity for the item. If you have set a
minimum quantity for a re-ordering alert, you can create
an order for the items easily using the Stock Alert tab in
the To Do List. The default quantity showing on the order
will be taken from this field.
E
Choose the VAT code you want to use when you purchase this
item.
You can override the VAT code when you record the purchase.
E
B
C
D
A
B
C
[Optional] Type the standard cost of an item.
If you want to use the standard cost price as the default price,
select Use Standard Cost as the Default Price on Purchase
Orders and Purchases preference in the Preferences window
(Stock tab).
Type the unit of measure (such as ‘each’ or ‘case’) in 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.
If you track on-hand quantities and values for this item, type
the number of items that comprise a single buying unit. This is
the number that is added to your on-hand stock for every
buying unit. For example, if you buy eggs by the carton and
track their purchase as individual units, enter 12 as the
number of items per buying unit. When you buy one carton
unit, your item stock is updated by twelve items. If you leave
this field blank, the value defaults to one.
CREATING ITEMS
9
If you sell this item, click the Selling Details tab and enter
your selling details.
A
E
B
F
C
D
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 6-packs.
139
C
If you track on-hand quantities and values for this item, type the
number of items that comprise a single unit in this field. This is
the number that is subtracted from your on-hand stock for every
selling unit. For example, if you sell by the six-pack, enter 6 as the
number of items per selling unit. When you sell one six-pack,
your item stock is reduced by six items.
D
[MYOB Accounting Plus only] Set pricing levels for different kinds
of customers. See ‘Creating custom price levels’ on page 150.
E
Select the VAT code you want to use when you sell this item.
Note that you can override the VAT code on invoices.
F
If you want to indicate that all prices on the Selling Details tab
are VAT inclusive, select the Prices are VAT Inclusive option. If
the prices are VAT exclusive, deselect this option.
location for buying and selling the item. For information
about locations, see ‘Multiple stock locations’ on page 142.
12
Click OK.
Average Cost, Last Cost and Standard
Cost
Average Cost is calculated as the total cost of an item (the total
amount you have paid to purchase the item or the cost entered
when you transferred the item into stock) divided by the number
of units of that item you have on hand.
Last Cost is the most recent purchase price for the item.
Standard Cost can be used instead of the last purchase price as
10
Click the Items Details tab and enter additional information
about the item.
11
[MYOB Accounting Plus only] If this item is stored in multiple
locations, click the Locations tab and select the default
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 (Stock tab).
Making stock adjustments
From time to time you may need to adjust item quantities and
values. For example, if your stock gets damaged, you may have
to write off some of your stock or revalue it.
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 ‘Count stock’ on page 146.
140
NOTE : Print the Items List Summary report
When making stock
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
STOCK
Stock adjustment examples
To make a stock adjustment
1
Go to the Stock Control command centre and click Adjust
Stock. The Adjust Stock window appears.
2
Enter details of the adjustment.
A
3
B
C
D
E
The following are some examples of stock adjustments.
Example 1 This stock adjustment increases the number of
items on hand by two and the total value of the items on hand by
£700.
F
A
Enter 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 stock 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 ‘Multiple stock locations’ on page 142.
C
Enter the quantity by which you want to increase or decrease
the quantity held. Only enter the quantity variation.
Enter the quantity in stock units, not buying or selling units.
If you enter a positive number, that number is added to your
on-hand stock. If you enter a negative number, that number is
subtracted from your on-hand stock.
D
The average unit 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, enter 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 2 This stock 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 3 This stock 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 stock adjustment.
MAKING STOCK ADJUSTMENTS
141
Multiple stock locations
The following information is only applicable to MYOB
Accounting Plus users.
To create a stock location
NOTE :
If you hold stock at multiple 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 83)
„
the location from which a sold item is shipped (see ‘Entering
sales’ on page 61)
„
the movement of items between locations (see ‘To record
stock movements’ on page 143).
1
Go to the Stock Control command centre 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 for the location.
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.
If you want to use multiple locations, you need to create a record
for each stock location. When you create a location, a Location
column is added to the Purchases and Sales windows. When you
record an item purchase or sale, you can enter the receiving or
selling location for the item in this field.
Primary location The primary location is automatically
created in your company file. When you set up multiple locations,
your existing stock is assigned to this location. You can change the
primary location ID and name, if you want, but you cannot delete it.
For instructions on how to move items from the primary location to
another location, see ‘To record stock movements’ on page 143.
NOTE :
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.
You can specify a default receiving and selling location for your
items. For more information, see ‘To create an item’ on
page 138.
142
6
Click OK. The new location appears in the Locations List
window.
7
Click Close.
CHAPTER 9
STOCK
Recording stock movements between
locations
A
C
You use the Move Items window to record the movement of
stock between your locations.
Although a transaction is not created when you move stock
items, you can display the Item Movement Report to view the
details of stock movements.
To record stock movements
1
Go to the Stock Control command centre and click Move
Items. The Move Items window appears.
B
Moving items using the Item Information window
You can also record an item movement by clicking Move Items
in the Location tab view of the Item Information window.
NOTE :
2
3
Select the item you want to move. You can locate an item by
scrolling or by typing the item number in the Search field.
Record the quantities held at each location.
A
The On Hand column shows the available stock 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.
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.
You do this by transferring the stock quantities of the components
to that of the finished item. For example, you could transfer the
stock quantities of timber and fabric (component items) to
furniture (the finished items).
„
manually, for a one-off transfer of stock. See ‘To build items
manually’ on page 144.
„
automatically, for a transfer you make repeatedly. See
‘Auto-building items’ on page 144.
Note that before you can build a finished item, you need to
create an item record for it.
You can build items in two ways:
BUILDING ITEMS
143
To build items manually
1
Go to the Stock Control command centre 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.
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 component 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 define an Auto-Build item
3
Type the transfer quantity. Type a positive number for the
finished item (this number is added to your on-hand stock).
Type a negative number for the component items (this
number is subtracted from your on-hand stock).
1
Go to the Stock Control command centre and click Items
List. The Items List window appears.
2
Click the zoom arrow ( ) next to the item you want to build.
The Item Information window appears.
3
Click the Auto-Build tab.
4
In the Minimum Level for Restocking Alert field, type the
minimum level of the item you want to have in stock.
5
Click Edit List. The Auto-Build Information window
appears.
The value in the Out of Balance field must be zero before you
can record the transaction. That is, in the Amount column
the amount for the finished item must be equal to the sum of
the amounts for the components.
144
4
[MYOB Accounting Plus only] If you store an item at multiple
locations, select the location where the item is held. Note that
this field only appears if you use more than one location in
your company file. (See, ‘Multiple stock locations’ on
page 142.)
5
Enter the unit cost of each item to be included in the build.
6
Click Record to save the stock transfer.
CHAPTER 9
STOCK
6
In the List what it takes to build field, type the number of
item units that will be made using the components.
7
Enter 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.
To auto-build an item
1
Go to the Stock Control command centre and click
Auto-Build Items. The Auto-Build Items window appears.
A
C
B
8
When you have entered all the components, click OK.
9
Click OK and then click Close to return to the Stock Control
command centre.
BUILDING ITEMS
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 number of finished items you want to build.
2
Type the quantity of finished items you want to build in the
Qty. to Build column. (Click None if you want to change all
numbers in this column to zero.)
3
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.
145
4
Review the entries in this window to make sure that the
quantity, unit cost and total stock 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.
5
Click Record to update your stock quantities and values.
„
Count the actual items in your stock. You can print the Stock
Count Sheet report, which lists all your stock items, and
manually record your actual items on this.
Count stock
You may recall that you entered your opening stock quantities in
the Count Stock window when you set up your company file.
You can also use the Count Stock window to make adjustments
to item quantities during regular stock counts or any time you
find discrepancies between the actual quantities of items on hand
and your records of those quantities.
NOTE :
Each stock adjustment must be allocated to an account so your
accounting records accurately reflect why your stock needed
adjusting. For example, you may use an expense account—often
called ‘Shrinkage/Spoilage’—to track loss or theft of items.
To record a stock count
Before you record a stock count
„
146
Make sure you record all built items before counting your
stock. Otherwise, a missing stock item that was used to build
another item will be accounted for as an expense, such as loss
or shrinkage. For more information, see ‘Building items’ on
page 143.
Stock-count filtering options You can print the Stock
Count Sheet either by clicking Print in the Count Stock window or,
if you want to set filters, from the Index To Reports window.
1
Go to the Stock Control command centre and click Count
Stock.
2
If you have stock at multiple locations, filter the list as
required.
3
Click Print to print the Stock Count Sheet.
4
Manually count your stock and note down the quantities on
the Stock Count Sheet.
CHAPTER 9
STOCK
5
In the Count Stock window, enter the actual quantities of the
stock items in the Counted column. If an item is held in
multiple locations, enter the stock held at each location.
No default adjustment account needed You don’t
need to enter a default adjustment account. If it’s necessary for
you to use different accounts to track the adjustments you made
in step 5, you can enter those accounts at step 7 below.
NOTE :
Any discrepancy between the counted quantity and the
on-hand quantity appears in the Difference column.
6
Click Adjust Stock. If there are differences between on-hand
and counted values, the Adjustment Information window
appears.
7
Click Continue. The Adjust Stock window appears,
displaying a line item for each adjustment you entered in the
Count Stock window in step 1.
If you entered a default adjustment account in step 6, that
account appears in the Account column for each line item.
You can specify a default adjustment account for tracking the
adjustments you entered in the Count Stock window. This
saves you having to enter an account on every line of the
stock adjustment.
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 Stock Count 2007).
9
Click Record to update your stock.
Reviewing your stock information
The following tools help you review your stock information.
Tool
Description
See
To Do List
Displays an alert for items that need to
be purchased or built.
page 148
Analyse
Stock
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
stock items, you can group the items by
number or location.
page 148
Stock reports help you keep track of
your item quantities and value.
page 148
Stock
reports
REVIEWING YOUR STOCK INFORMATION
Tool
Description
See
View history
You can view the sales and purchase
transaction histories of an item or
supplier for seven years.
page 149
Find
Transactions
Find Transactions helps you find stock
transactions.
page 180
Items
Register
Gives you a list of your stock transfers,
adjustments, sales and purchases for all
items, or it can be filtered to show the
history of a single item.
page 179
Transaction
Journal
Lists journal entries of your stock
transactions.
page 179
147
To view a list of 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 fulfil customer orders.
1
Go to the Stock Control command centre and click Analysis.
The Analyse Stock window appears.
In this window, you can:
2
Display the required view of the Analyse Stock window. The
Summary view displays all stock items, while the Item
Number view displays all the customer and supplier orders
for a selected item.
3
[MYOB Accounting Plus only] If you use multiple locations to
store your stocked items, the Group by Item view displays all
stocked items grouped by the item number. The Group by
Location view displays all stocked items grouped by location,
while the Item Number view displays all the customer and
supplier orders for a selected item.
„
automatically record a transaction for the items that you need
to buy or build
„
change the details of an order or auto-build transaction.
1
Click To Do List from any command centre. The To Do List
window appears.
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, 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. If you want to, enter a different date and
click OK.
An order will automatically be created for the items that
need to be purchased. The restocking information entered
in the Buying Details tab view of the Item Information
window is used to determine the supplier and quantity to
order or the items to build.
„ 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 analyse stock
The Analyse Stock window gives you detailed information about
how much stock you have on hand, what is committed, what is
on order, and what is available.
148
To view stock reports
There are several reports that you can generate to keep track of
your stock. The following is a list of some of them. For
information on finding, customising and printing reports, see
Chapter 14, ’Reports,’ starting on page 191.
„
Analyse Stock 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 stock adjustments. You can use this report to
compare your total stock value to the total of your stock asset
accounts.
„
Price Summary report. This report lists your item prices and
is useful for sending to your customers. You could also
convert this report to HTML and post your price list on an
intranet or Internet site.
CHAPTER 9
STOCK
To view sales and purchases history for an item
1
Go to the Stock Control command centre and click Items
List. The Items List window appears.
2
Click the zoom arrow ( ) next to the item you want to view.
The Item Information window appears.
3
Click the History tab. The History view displays the purchase
and sales history for the item for seven years: five past years,
the current year and the next year.
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 Stock Control command centre 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
You can update the prices of multiple items at once using pricing
shortcuts.
1
Go to the Stock Control command centre 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.
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
149
4
Indicate how you want the price rounded, the basis for
calculating the price, and so on.
5
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.
If you want to:
„ update the items you marked in step 2, click Update x
Items Only
„ update the prices of all items, click Update All Items.
Customising stock
The following information is only applicable to MYOB
Accounting Plus users.
NOTE :
Your MYOB software provides a number of stock customisation
features:
„
„
„
150
Custom price levels You can set up to six price levels for an
item and then assign one of these levels to a particular
customer. You could, for example, have one price level for
casual customers, another for irregular customers, another for
regular small-spend customers, another for regular
high-spend customers and so on. You can also specify up to
five price breaks for each price level. You can then charge, say,
all your regular customers increasingly lower prices if they
purchase larger and larger quantities of the item.
Custom fields You can ensure 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 Colour, Type, and Location. This means you
could run a report to include only blue cage trailers at the
Main Street station.
Creating custom price levels
Your 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 List & 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 Stock Control command centre and click Items
List.
CHAPTER 9
STOCK
2
Select the item and click Edit. The Item Information window
for the item appears.
3
Click the Selling Details tab.
2
You can assign one of the six price levels or the item’s base
selling price to the customer.
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
5
In the remaining fields (Levels B to F, or whatever you have
chosen to label them), enter the selling price of this item.
Make an entry for each price level you want to use.
If you want to specify quantity breaks for a price level:
a Enter the first quantity break in the Over field and enter the
price for orders over the quantity break.
b In the next Over field, enter the new quantity break. Assign
the price for this quantity break.
c Continue to enter up to five quantity breaks. You can enter
up to six price levels for each. Note that each quantity
break must specify a quantity greater than the previous
quantity break.
In the Item Price Level field, select the price level you want to
assign 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 three custom lists that you can use to sort and
group your stock items.
An example of a custom list is ‘Colour,’ in which you could create
list entries of ‘yellow,’ ‘red,’ ‘green’ and ‘blue.’ When you create
or edit your items, you can assign them one of these colours.
When you run a stock report, such as the Analyse Stock
Summary report, you can choose to include only red items in the
report.
To name a custom list
6
1
Go to the Lists menu, choose Custom List & 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.
CUSTOMISING STOCK
These custom list names will now appear on the Item
Information window.
151
To create custom list entries
1
Go to the Lists menu, choose Custom Lists and then Items.
The Custom Lists window appears.
Custom lists and stock reports
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 colour red. For more
information, see ‘Select the data to be printed’ on page 195.
Creating custom fields
2
Select the custom list for which you want to make entries in
the Custom List field.
3
Click New and enter the name of the list entry. For example,
if you have a colour list, you would enter a colour, such as
Yellow.
4
Click OK.
5
Repeat step 3 until you have created all your list entries.
To assign a custom list entry to an item
152
1
Go to the Stock Control command centre and click Items
List.
2
Click the zoom arrow ( ) to the left of the item. The Item
Information window appears.
3
Click the Item Details tab.
4
Select the list entry you require from the appropriate custom
list.
5
Click OK.
Three 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 stock reports.
To name a custom field
1
Go to the Lists menu and choose Custom List & 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 your purchase orders and
invoices You can customise your invoices and purchases to
include custom fields. For more information, see ‘Customising
forms’ on page 206.
CHAPTER 9
STOCK
International transactions (multiple currencies) are only available in MYOB Accounting Plus.
You can enter transactions in a number of currencies in addition to your local currency, the British pound. 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
If you deal in multiple currencies, it’s important to track the effects of currency exchange fluctuations on your business. MYOB Accounting Plus
provides detailed reports to help you manage both unrealised gains and losses (potential changes in the value of overseas transactions) and
realised gains and losses (the actual changes in the value of your assets, liabilities and capital that occur when you exchange foreign currency for
British pounds).
The multiple-currency feature is optional. If all your business is conducted with customers and suppliers in British pounds, there’s no need for you
to use this feature. If you do want to use it, you need to set a preference.
You will also have to perform a number of setup tasks described in this chapter. For example, you will have 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 euros, you will need to create a separate debtors
account for your sales in Europe. Every foreign-currency account you create requires a companion account, known as an exchange account, to
track changes in the value of the transactions assigned to the account. Only balance sheet accounts—asset, liability and capital accounts—can be
assigned a foreign currency. All other types of accounts are tracked using pounds.
Your local currency, the pound, is automatically set up for you. As this currency is used to determine the value of all other currencies, it cannot be
deleted and its exchange value is fixed at 1. Before you begin entering transactions, you need to specify the appropriate currency for all your
overseas customers and suppliers. Only one currency can be used for each customer or supplier (unless you choose to set up multiple cards for
them). This ensures that your records remain accurate and it speeds up the task of entering transactions.
153
INTERNATIONAL TRANSACTIONS
10 International transactions
Setting up multiple currencies
Complete the following steps to set up multiple currencies.
Task
See
1
Select the multiple currency option
below
2
Set up records for foreign currencies
below
3
Create accounts to track foreign-currency
transactions
page 155
4
Assign accounts to foreign currencies
page 156
5
Assign appropriate currencies to foreign
customers and suppliers
page 156
Before you can record multiple-currency transactions, complete
the following setup steps. Once setup is complete, you will 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.
3
Click OK to prepare your company file for multiple currencies.
4
Click OK to close the Preferences window.
Task 2: Set up records for foreign
currencies
MYOB Accounting Plus provides you with records for several
commonly used foreign currencies, as well as your local currency.
The following currencies have been set up for you already:
Australian dollar, New Zealand dollar, Canadian dollar, European
Union euro, Great Britain pound, Hong Kong dollar, Japanese yen
and United States dollar.
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. For detailed field help, click Help and choose
Help for This Window.
4
Click OK.
This selection cannot be undone Once you begin
entering multicurrency transactions, you cannot undo this
selection.
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 pounds. You cannot simply use the same
accounts you use for your pound transactions because the pound
and other currencies rarely trade at par with one another (that is,
one pound rarely buys exactly one monetary unit in any other
currency).
Foreign-currency accounts are automatically linked For
every foreign-currency account you create, MYOB Accounting Plus
will automatically create a linked exchange account. For example, if
you create a yen bank account, a yen exchange account will be
created automatically. MYOB Accounting Plus uses these dual
accounts so that both the foreign currency amount and the local
currency equivalent of a transaction can be viewed in your Balance
Sheet.
NOTE :
You can let MYOB Accounting Plus create the linked exchange
account for you or you can specify one yourself. To create an
account yourself, see ‘Setting up accounts’ on page 25. You will
need to select the correct currency and exchange account in the
Account Information window.
Before you create an account, we suggest you review the
following sections to get an understanding of the accounts you
need to create.
„
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 British
pound.
NOTE : Grouping with undeposited funds Only receipt
transactions that are in Sterling currency may be grouped as a
deposit of undeposited funds. Also, you may only use a Sterling
currency account as the linked account for undeposited funds.
If you make foreign purchases
Here’s a list of the accounts you are likely to need if you make
payments to suppliers in a foreign currency.
„
Liability account for tracking creditors (for instance,
‘Creditors Accounts Euro’). This account must be assigned
the foreign currency and not the British pound.
„
Bank account that will be used to pay debts in a foreign
currency. This can be a Sterling funds account if your bank
writes cheques for you in other currencies.
„
Asset account for deposits paid (if you make deposits on
orders). This account can be assigned the currency code for
either the foreign currency or the British pound.
„
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 British pound.
If you make foreign sales
If you track unrealised gains and losses
Here’s a list of the accounts you are likely to need if you accept
payment from customers in a foreign currency.
If you plan to track unrealised gains and losses, you need to
create an income account for this purpose. You may want to
name it ‘Unrealised Currency Gain/Loss’ or something similar. We
recommend that you consult your accountant to determine
whether your business needs to track unrealised gains and losses
and, if it does, the most appropriate way for it to do so. See
‘Tracking currency gains and losses’ on page 158 for more
information.
„
Asset account for tracking debtors (for instance, ‘Debtors
Accounts Euro’). This account must be assigned the foreign
currency and not the British pound.
„
Bank account where customer receipts in the foreign
currency will be deposited. This can be a Sterling funds
account if your bank accepts deposits in other currencies.
SETTING UP MULTIPLE CURRENCIES
155
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 Certified Consultant.
Task 4: Assign accounts to foreign
currencies
1
Go to the Lists menu and choose Currencies. The
Currencies List window appears.
2
Click the zoom arrow ( ) next to the currency you want to
assign to one or more accounts. The Currency Information
window appears.
3
Select the required tab. Click either:
„ the Sales Ledger Accounts tab if customers pay you in this
currency or
„ the Purchase Ledger Accounts tab if you pay suppliers in
this currency.
4
5
156
Enter the relevant accounts in the appropriate fields. In the
bottom section of the window, mark the options that apply to
your business. As you mark options, additional fields will
appear and you can enter the accounts you will use to track
various parts of your transactions such as deposits and
discounts. For detailed field help, click Help and choose Help
for This Window.
Task 5: Assign appropriate currencies to
foreign customers and suppliers
The currency used to make a transaction is determined by the
currency assigned to the customer card or supplier card you are
using.
A card can only use a single currency so if you deal with a
customer or supplier in multiple currencies, you will need to
create a separate card for each currency.
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 supplier.
Any transactions recorded for a customer or supplier card will be
in the currency linked to the card.
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the zoom arrow ( ) next to the required card to display
the Card Information window.
3
Select the Profile tab.
4
In the Currency field, enter 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.
Repeat this procedure for each currency you want to assign to
the relevant accounts.
CHAPTER 10
INTERNATIONAL TRANSACTIONS
Exchange rates
This will only affect the transaction that is currently displayed.
Foreign-currency transactions can be recorded for:
„
Sales, Receive Payments, and Settle Returns & Credits
„
Purchases, Pay Suppliers, and Settle Returns & Debits
„
Spend Money, Receive Money, Reconcile Accounts and
Nominal Journal entries.
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.
4
Click OK.
Specifying the exchange rate for a
transaction
Using the Currency Calculator
When entering a transaction, you can either use the default
exchange rate for the currency or enter a new rate for the
transaction.
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.
To change the exchange rate
1
Calculate the exchange rate first using the Currency
Calculator. See ‘Using the Currency Calculator’ below.
2
Click Rate at the bottom of the transaction window. The
Exchange Rate window appears.
3
Enter the new exchange rate in the Transaction Exchange
Rate field.
EXCHANGE RATES
To access the Currency Calculator from any window in your
MYOB Accounting Plus: go to the Help menu at the top of the
screen and choose Currency Calculator.
157
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
Accounting Plus can track these fluctuations.
Gains or losses in the value of a foreign account are considered
unrealised 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 realised.
Tracking realised currency gains and
losses
Realised currency gains and losses are tracked differently for sales
and purchases than for deposits and withdrawals in MYOB
Accounting Plus. For realised gains or losses on sales and
purchases, a posting is automatically made to the Currency
Gain/Loss account. However, for realised currency gains and
losses on transfers—deposits and withdrawals—you need to
make a nominal journal entry to the Currency Gain/Loss account
to record the currency gain or loss.
When you activate the multiple-currency feature in MYOB
Accounting Plus, a Currency Gain/Loss account is automatically
created.
158
NOTE : 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.
Sales and purchases
At the time a currency gain or loss is realised, that is, a payment is
received or made, an automatic posting is made to the Currency
Gain/Loss account and to the exchange account for the foreign
currency.
The Currency Realised Gain/Loss report lists the currency gains
and losses that have been automatically posted through sales and
purchases during the month for foreign-currency transactions.
Example
Say you sell goods for €100 at an exchange rate of 0.63 British
pounds to the euro. MYOB Accounting Plus records the sale at
£63 and records €100 as owed by the Euro customer. Using
MYOB Accounting Plus’ dual accounting system, €100 is posted
to the euro debtors account, £37 to the euro debtors exchange
account and £63 to the sales account.
In the following month, the euro customer pays their account by
depositing €100 into your bank account, but the exchange rate
has changed from 0.63 to 0.60 pounds to the euro. The deposit
is valued at £60.
You originally made a sale that at the time was worth £63. When
you received payment, it was worth only £60. Therefore, the £3
difference is a realised currency loss, and will be posted to the
Debtors Accounts Euro exchange account and to the Currency
Gain Loss account.
CHAPTER 10
INTERNATIONAL TRANSACTIONS
Transfers
Currency gains and losses that occur through the transfer of
funds need to be recorded by a nominal 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.
You can then create a nominal 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 Euro bank account, but £3 remaining in the Euro
exchange account. You need to post the £3 in the exchange
account to your Currency Gain/Loss account.
Unrealised currency gains and losses
An unrealised 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
unrealised gains or losses on foreign-currency transactions.
Example
Not all businesses need to track unrealised currency gains or
losses. You should check with your accountant to determine
whether your business needs to track them.
Say the original balance in your euro bank account is zero and
you then transfer €100 at an exchange rate of 0.63 pounds to it.
The €100 is converted to £63, and MYOB Accounting Plus posts
€100 to the Euro bank account and £37 to the Euro Cheque
exchange account.
The Currency Unrealised 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.
The following week you withdraw that €100 from the bank at an
exchange rate of 0.60 pounds to the euro. MYOB Accounting
Plus values the withdrawal at £60. You put €100 into the account
that at the time was worth £63. When you withdrew the €100
from the account, it was worth only £60. Therefore, the £3
difference is a realised currency loss.
TRACKING CURRENCY GAINS AND LOSSES
159
Miscellaneous transactions
Transferring funds to a foreign account
You may want to transfer funds from a local-currency account to
a foreign account. This is easily done through the Spend Money
window.
160
1
Go to the Banking command centre and click Spend Money.
The Spend Money window appears.
2
Click Currency. The Exchange Rate window appears. In the
Exchange Rate window, choose the currency of the account
into which you want to make a deposit.
3
Click OK. The Spend Money window reappears.
4
In the Account field, type or select the local currency bank
account from which the amount is being withdrawn.
5
Enter the date, amount, payee, and memo.
6
In the Account No. (or Name) column, type or select the
foreign account into which you want to make the deposit.
7
Click Record.
Entering foreign-currency transactions in
a local account
You can enter foreign-currency transactions in a local-currency
account. For example, you can accept a cheque from a customer
in euros and bank it in a Sterling bank account.
Example You have received a cheque from your customer,
Donelli Paper, for €200 against an outstanding invoice, and you
want to bank it in your local-currency account. Let’s also assume
the exchange rate has changed from 0.60 to 0.63 since you
made the original sale.
1
Go to the Sales command centre and click Receive
Payments. The Receive Payments window appears.
2
Type or select the customer in the Customer field. Details of
Donelli Paper’s purchase appears in the window.
3
In the Account field, type or select your local-currency
account.
CHAPTER 10
INTERNATIONAL TRANSACTIONS
4
Click Rate. The Exchange Rate window opens.
5
In the Transaction Exchange Rate field, change the rate
from 0.60to 0.63.
Reconciling accounts containing foreign
transactions
When you are reconciling your bank statement, the foreign
currency transaction amounts listed in your statement will often
not match those listed in your company file. This is because the
exchange rate used by the bank is different from that used in
your company file at the time of the transaction.
There are two methods by which you can reconcile accounts
containing foreign transactions:
6
Click OK. The Receive Payments window reappears.
7
In the Amount Received field, type 200.
8
Click in the Amount Applied column and then press TAB.
The Out of Balance field displays EUR0.00. The Gain/Loss
field shows the a gain or loss (in local currency) as a result of
the new exchange rate. This amount is posted to a currency
gain/loss account.
9
Click Record.
MISCELLANEOUS 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 Transaction from the Edit
menu, and re-enter the transaction with the correct exchange
rate.
161
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INTERNATIONAL TRANSACTIONS
Value Added Tax (VAT) is a tax on the supply of goods and services. Most goods and services attract VAT at the standard rate set by the
Government, which is currently 17.5 per cent. However, some goods and services attract different VAT rates. For example, most foodstuffs are
charged at zero per cent. For a full explanation of what VAT rate to use, consult your local VAT Business Advice Centre or your accountant.
This chapter explains how you can use your MYOB software to complete your VAT Return for HM Revenue & Customs.
If your company is involved in intra-EC trade, as defined by HM Revenue & Customs, you need to account separately for these intra-EC
transactions in your returns to HM Revenue & Customs. See ‘EC sales’ on page 166 and ‘EC purchases’ on page 168.
Setting up VAT codes
VAT codes are used to track VAT paid to and by your business.
Each VAT code represents a particular type of VAT, which is used
to calculate VAT on your transactions.
MYOB software has a list of VAT codes that can be used in a
variety of situations—for example, when doing business with EC
customers or when tracking capital acquisitions and so on. You
can also create an unlimited number of VAT codes. For more
information on setting up VAT codes for EC sales and EC
purchases, see ‘EC sales’ on page 166 and ‘EC purchases’ on
page 168.
To add a VAT code
1
Go to the Lists menu and choose VAT Codes. A list of VAT
codes appears.
2
Click New. The VAT Code Information window appears.
163
3
In the VAT Code field, type a VAT code (consisting of one,
two or three characters) and press TAB.
4
Complete the Description, VAT Type and Rate fields.
5
Select the linked account for VAT collected or paid. This field
is only available for some tax types.
REPORTING VAT
11 Reporting VAT
6
Click OK when you have finished. The new VAT code you
have added will now appear in the VAT codes list.
Assigning VAT codes to accounts
You can assign a VAT code to each account in your accounts list.
The VAT code you assign to an account will appear as the default
VAT code in a transaction where you allocate a deposit, cheque,
or a non-item sale or purchase to this account.
For example, you have assigned the VAT code to your Electricity
expense account. When you write a cheque to settle your
electricity bill in the Spend Money window and allocate it to this
account, the VAT code will appear in this window by default.
You can allocate a VAT code to an account in the Edit Accounts
window. You can open this window by going to the Accounts
command centre, clicking Accounts List, and double-clicking
the required account from the list. For more information, click
Help and choose Help for This Window or Tell Me More.
When you create a quote, order, or invoice, your MYOB software
will use the VAT code assigned to the customer as the default.
This VAT code will override the item’s VAT code in an item sale,
and the allocation account’s VAT code in a non-item sale.
Similarly, when you create a quote, order or purchase, your
MYOB software will use the VAT code assigned to the supplier as
the default. This VAT code will override the item’s VAT code in an
item purchase, and the allocation account’s VAT code in a
non-item purchase.
VAT codes are assigned to customers in the Selling Details tab of
their Card Information window (see ‘Creating a customer card’
on page 59).
Make sure you select the Use Customer’s VAT Code option. (If
this option is not selected, the customer’s VAT code will not be
used, even if one has been assigned.)
Assigning VAT codes to items
When you set up your items, you must assign a VAT code to each
of them.
You can assign a VAT code to be used when you sell an item and
a VAT code to be used when you buy an item. That VAT code will
appear as the default in sales and purchases of that item unless
you have specified that the customer’s or supplier’s VAT code be
used instead (see ‘Assigning VAT codes to cards’ below).
VAT codes are assigned to suppliers in the Buying Details tab of
their Card Information window (see ‘Creating a supplier card’
on page 81).
Make sure you select the Use Supplier’s VAT Code option. (If this
option is not selected, your MYOB software will not use the
supplier’s VAT code, even if one has been assigned.
VAT codes are assigned to items in the Buying and Selling tabs of
the Item Information window. For more information, see ‘To
create an item’ on page 138.
Assigning VAT codes to cards
You can select a default VAT code for a customer or supplier. You
would only need to specify a default VAT code if the customer’s or
supplier’s VAT status takes precedence over that of the item or
service being sold or purchased.
164
CHAPTER 11
REPORTING VAT
VAT reports
VAT reports group transactions together based on the VAT code
assigned to transactions. Therefore, any transaction entered
without a VAT code will not appear on VAT reports. If you delete a
VAT code from an entry, the entry will not appear on VAT reports.
You can use the Company Data Auditor to identify transactions
entered without a VAT code or where the VAT amount has been
manually changed for a transaction. For more information, see
‘Run the Company Data Auditor’ on page 244.
You can make an adjustment to a VAT report by creating a
nominal journal entry—for more information, see MYOB Help.
Alternatively, you can enter the correct details on your VAT return
and keep detailed records of how the difference between your
MYOB software reports and your VAT return is calculated. You will
be asked to produce this by HM Revenue & Customs during any
VAT audit visit.
Accrual and cash reporting
There are two methods of accounting for VAT—accruals and
cash. It is important that you choose the VAT reports appropriate
for your VAT accounting method.
Cash accounting for VAT This method allows you to account
for VAT once the payment has been received or made. It can only
be used if you have permission from HM Revenue & Customs.
For example, if you issue an invoice to a customer in one VAT
return period but do not receive payment until the next return
period, VAT is payable in the return period you received payment,
not in the period during which the invoice was issued.
If you use this method, use the VAT Summary – Cash, VAT
Detail – Cash and VAT Return – Cash reports.
VAT Summary and VAT Summary – Cash
reports
These reports total VAT transactions for each VAT code. They can
cover any date range, all VAT codes or selected VAT codes. The
VAT Summary report displays amounts payable and recoverable,
and the VAT Summary – Cash report displays amounts actually
paid and collected. An example of the VAT Summary report is
shown below.
Accrual accounting for VAT With this method you pay or
reclaim VAT based on the invoice or purchase date. For example,
if you issue an invoice to a customer in one VAT return period but
do not receive payment until the next period, VAT is payable in
the period that includes the invoice date, not the period when
the customer paid.
If you use this method, use the VAT Summary, VAT Detail and
VAT Return reports.
VAT REPORTS
165
The Less EC Purchase VAT field (located below the Total field)
only affects your reports if you engage in intra-EC trade. For more
information, see ‘EC purchases’ on page 168.
VAT Return and VAT Return – Cash
reports
VAT Detail, VAT Detail – Cash reports
These reports are designed to help you complete your VAT 100
return, which is the form you send to HM Revenue & Customs to
account for your VAT transactions.
These reports show each transaction that has a VAT code applied
to it for the specified date range and specified VAT codes. The
reports can be filtered for one, a number, or all VAT codes. The
VAT Detail report shows amounts payable and recoverable and
the VAT Detail – Cash report shows amounts actually paid and
collected. An example of the VAT Detail – Cash report is shown
below.
It resembles the actual VAT 100 form and shows the amounts you
need to complete the form. The report can be filtered for any
date range you require, and includes all transactions that have a
VAT code other than those transactions assigned the N-T VAT
code.
EC sales
About this information The information below is not an
in-depth guide to EC trade. For more information, please refer to
‘VAT Notice 725 The Single Market’, available from your local VAT
Business Advice Centre, or consult your accountant.
NOTE :
166
If your business is a UK VAT-registered company selling goods or
services to anyone in another EC member state, you will normally
charge VAT at a zero rate on the transaction if the sale is in line
with intra-EC sales rules. These rules require that customers
supply you with their VAT registration number.
CHAPTER 11
REPORTING VAT
This does not mean that the VAT on the transaction is ignored; it
is accounted for in the VAT Return and EC Sales reports. EC
customers also account for the VAT that would have been paid in
adherence to the EC rules and legislation applicable in their state.
Before you can track sales made to EC customers, you need to set
up a VAT code to assign to EC sales. No VAT amount will be
tracked on the sale. The VAT rate and EC reported rate are set to
zero per cent, as you are not collecting VAT on the sale.
This code should only be used when making a sale that conforms
to HM Revenue & Customs rules governing intra-EC sales.
If you sell items to EC customers, you also need to set up your
customer cards to report these sales in the EC Sales report.
To create a VAT code for EC sales
1
Go to the Lists menu and choose VAT Codes. A list of VAT
codes appears.
2
Click New. The VAT Code Information window appears.
3
In the VAT Code field, type a code for the EC VAT sales (for
example, ECS) and press TAB.
4
In the Description field, type a VAT code description such as
EC Sales VAT Code.
5
In the VAT Type field, select VAT - EC Sales. The VAT Rate
and EC Reported Rate fields are set to zero per cent.
6
Select the linked accounts for VAT collected and paid.
7
Click OK.
To set up customer cards for EC sales
1
In the Card File command centre, click Cards List. The Cards
List window appears.
2
Locate an EC customer’s cards and click Edit. The Card
Information window appears.
3
If you sell items to this customer, select the EC Customer
option.
EC SALES
Service sales If you only supply the customer with
services, do not select them as an EC customer. Service-only
sales should not appear on the EC Sales report.
NOTE :
4
Click the Selling Details tab.
5
Type the customer’s EC VAT registration number in the VAT
ID Number field. This number appears on the EC Sales
report.
6
In the VAT Code field, select your EC Sales VAT code.
7
Select the Use Customer’s VAT Code option.
8
Click OK.
9
Repeat from step 2 for other EC customers.
Reporting carriage cost for sales to EC customers
If you need to include carriage costs for sales to EC customers in
the EC Sales report, you need to add the carriage cost as a line
item on the invoice. Do not enter them in the Carriage field.
Entries in the Carriage field do not appear on the EC Sales
report.
Reporting EC sales
MYOB software has several reports that analyse sales to EC
customers and sales involving EC Sale VAT codes.
EC Sales report The EC Sales report needs to be completed by
UK VAT registered traders who supply goods to traders registered
for VAT in other EC Member States. MYOB software's EC Sales
report is designed to help you complete this form.
The report includes sales to customers who are identified as EC
customers and whose VAT IDs are entered in the VAT ID Number
field of their card. The type of VAT code used on a sale has no
effect on whether or not the sale appears on the report.
167
VAT Detail, VAT Summary, VAT Detail – Cash, VAT Summary –
Cash These reports show the VAT on transactions. The
transactions are grouped together by VAT code. Any report
filtered for an EC Sale VAT code will show sales created for that
code, whether marked on the customer’s card or not.
VAT Return, VAT Return – Cash reports The VAT Return is
submitted to HM Revenue & Customs and shows how much VAT
you are required to pay or entitled to reclaim.
EC purchases
About this information The information below is not an
in-depth guide to EC trade. For more information, please refer to
‘VAT Notice 725 The Single Market’, available from your local VAT
Business Advice Centre, or consult your accountant.
NOTE :
If your business is a UK VAT-registered company purchasing
goods or services from a company in another EC Member State,
you will not normally pay VAT on the transaction if it is in line with
intra-EC trade rules.
VAT is not paid to the supplier, but it is accounted for when
reporting VAT to HM Revenue & Customs. Note that this is done
using the VAT rules and rates for the UK, not those for the EC
State from which the goods or services are purchased.
An ‘EC Purchase’ VAT code should only be used when making a
purchase that conforms to HM Revenue & Customs rules
governing intra-EC supplies. The VAT rate is set to zero per cent,
as you are not charged VAT on the purchase. However, the
amount of VAT you would have paid had you purchased in the
UK, will appear on your VAT reports.
For example, if you purchased a standard-rated item in the UK for
£100, you would pay £17.50 VAT. If you had purchased it from an
EC supplier, and the purchase conformed to Intra-EC Trade rules,
you would pay £0.00 VAT. However, your VAT reports would have
to show the amount of VAT you would have paid if buying it in
the UK, that is, £17.50.
168
Your MYOB software calculates this amount by using the
percentage you type into the EC Reported Rate field for EC
Purchase VAT codes in the VAT Code Information window. In
this example, you would create an EC Purchase VAT code with
17.5 per cent in the EC Reported Rate field, and use this on the
item’s purchase order.
You may need to set up several EC Purchase VAT codes. Just as
you separate UK VAT codes into Standard Rate, Zero Rate, and so
on, you also need to separate EC Purchase codes in the same way.
HM Revenue & Customs rules mean that you have to report
intra-EC purchases using the VAT rate that would be applicable if
the purchase were in the UK.
In most cases, this means creating two EC Purchase VAT codes.
The first would have the EC Reported Rate set to 17.5 per cent
and be used for standard rated items. The second would have the
EC Reported Rate set to zero per cent and be used for zero rated
items. You may also need an EC Purchase VAT code with an EC
Reported Rate set to zero per cent to be used for exempt items.
To create a VAT code for EC purchases
1
Go to the Lists menu and choose VAT Codes. The VAT Codes
List window appears.
2
Click New. The VAT Code Information window appears.
3
In the VAT Code field, type a code for the EC VAT purchases
(for example, ECP) and press TAB.
CHAPTER 11
REPORTING VAT
4
In the Description field, type a VAT code description such as
EC Purchases VAT Code.
5
In the VAT Type field, select VAT - EC Purchases. The VAT
Rate field is set to zero per cent.
6
In the EC Reported Rate field, type the rate you would have
paid if buying in the UK.
7
Select the linked accounts for VAT collected and paid.
8
Click OK.
Transaction 1: A purchase of £100 from Fred's Ginger Supplies, a
UK supplier. The transaction used the Non-EC VAT code S, rated
at 17.5 per cent.
Transaction 2: A purchase of £200 from Bonjour Fournisseur, an
EC Supplier. The transaction used the EC Purchase VAT code ECP.
A
B
To set up EC suppliers
1
In the Card File command centre, click Cards List. The Cards
List window appears.
2
Locate an EC supplier’s card and click Edit. The Card
Information window appears.
3
Select the EC Supplier option.
4
Click the Buying Details tab.
5
In the VAT Code field, select the default EC VAT code for that
supplier.
6
Select the Use Supplier’s VAT Code option and click OK.
7
Repeat from step 2 for other EC suppliers.
Reporting EC purchases
The VAT Summary, VAT Summary – Cash, VAT Detail and VAT
Detail – Cash reports show the VAT on transactions, grouped
together by VAT code. Reports filtered to include an EC Purchase
VAT code will show the amount of VAT that you would have paid
had you purchased in the UK calculated using the EC Reported
Rate percentage that you entered when creating the VAT code.
These notional amounts will appear on the report with an asterisk
next to them to indicate that they are not actually payable.
The example VAT Detail report below is made up of two
transactions:
EC PURCHASES
A Transaction 1
The purchase is made using the EC Purchase VAT
code ECP. This code was created with an EC
Reported Rate of 17.5 per cent. The VAT amounts
for this transaction are notional VAT amounts, that
is, they only exist for the VAT report, and are
calculated at the EC Reported Rate for this VAT
code.
B
The purchase is made using a non-EC VAT code S,
rated at 17.5 per cent. Note the Total and Less EC
Purchase VAT lines have the same amounts. This
is because the S VAT code was defined as non-EC,
therefore, there are no EC Purchase VAT amounts
affecting this total.
Transaction 2
Note that VAT on the second purchase in the above example
appears in the VAT Collected and VAT Paid columns. The two
notional amounts of £35 should cancel each other out on the VAT
100 form.
The Less EC Purchase VAT line below each VAT code's total
subtracts all of the notional entries created by EC purchases from
the totals, leaving you with the amounts you are actually due to
pay. You don't have to pay these amounts, only account for them
when reporting VAT to HM Revenue & Customs.
169
VAT Return, VAT Return – Cash reports
C Description 5
Description 5 = Description 3 less Description 4.
Description 3 and Description 4 include the notional
VAT amount from the EC Purchase transaction and
cancel each other out leaving just actual VAT payable.
D Description 7
The net amounts of all purchases regardless of VAT
code.
E
The net amounts of purchases made using EC
Purchase VAT codes, in this case, the single purchase
for £200.
The VAT Return report shown below is created from the
transactions used in the previous example.
A
Description 9
All calculations used to work out how much VAT you must pay or
reclaim cancel out the notional EC purchase VAT amounts.
B
C
D
E
170
A Description 2
The notional amount generated by the purchase
made using the EC Purchase VAT code.
B Description 4
The notional amount generated by the purchase
made using the EC Purchase VAT code, and the
amount paid to the UK supplier on the non-EC VAT
code.
CHAPTER 11
REPORTING VAT
LISTS
12 Lists
Your company file consists of different types of records —customers, accounts, recurring transactions, and so on. Records of the same sort 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 combined in a number of ways. For example, you can use a combination of custom lists, 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 24
Card
•
•
•
•
Customer
Supplier
Employee
Personal
Time billing activity
To add this type of record...
See
Item
page 137
VAT code
page 163
Recurring transaction
page 185
Foreign currency
page 154
[MYOB Accounting Plus only]
page 59
page 81
page 105
page 213
page 128
[MYOB Accounting Plus only]
171
Category
page 232
Job
page 233
Adding records using Easy-Add
3
Click Easy-Add. A new customer card is added to your cards
list. You can now complete your task with the new card.
4
Whenever you have time, go to the Card Information
window and enter the sales entry.
You can create new records easily using the Easy-Add feature.
Accounts, cards, categories, comments, custom list items, jobs,
referral sources and delivery 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 centre, click Enter Sales. The Sales
window appears.
2
Type the customer’s name and press TAB. If there is no card for
this customer, the Select from List window appears.
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 :
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 longer, 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,
172
click the Asset tab. Within the tab, you can use the scroll bar to
find the account.
Search fields The Cards List window and Items List window
have a Search field that you can use to locate a record quickly.
CHAPTER 12
LISTS
Simply type a few characters of the card name or item name in
the Search field and press ENTER. The first matching record is
highlighted.
If you have specified in the Preferences window that you want to
select items by item number and cards by card ID, enter the item
number or card ID instead.
Advanced search filters You can use advanced search filters
such as the reminder date and identifiers to search for a single
card or a group of cards. To do this, in the Cards List window,
click Advanced. Enter the relevant filters to narrow your search.
The Cards List window will display only those cards that meet
your search criteria.
Changing a record
You can make changes to:
„
accounts
„
cards
„
categories
„
foreign currencies (MYOB Accounting Plus only)
„
items
„
stock locations (MYOB Accounting Plus only)
„
jobs
„
payroll categories (MYOB Accounting Plus only)
„
VAT codes
„
time billing activities (MYOB Accounting Plus only).
CHANGING A RECORD
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 a VAT code, display the VAT
Codes 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 172.
3
Once you locate the record, click the zoom arrow ( ) next to
it. The record details are displayed in the Information
window.
4
Make the required changes and click OK.
173
Inactivating or reactivating a record
If you have accounts, cards, items, stock 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.
To inactivate (or reactivate) a record
1
Display the list to which the record belongs. You can display
the list from the appropriate menu or command centre. For
example, if you are inactivating a card, go to the Lists menu
and choose Cards, or go to the Card File command centre
and click Cards List.
2
Locate the record you want to inactivate or reactivate and
click the zoom arrow ( ) next to it. The record’s details
appear. For cards, accounts and items, select the Profile tab.
3
Select or deselect the Inactive [...] option.
„
none of your recurring templates use this account
„
the account isn’t a linked account for any transaction types
„
the account isn’t linked to any of the stock items.
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 an account
To delete an account
1
Go to the Accounts command centre 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.
You can delete an account if it meets the following criteria:
174
„
the account isn’t a level-1 account
„
the account has a zero balance
„
no journal entries used the account
CHAPTER 12
LISTS
Deleting other records
You can only delete:
„
a card, foreign currency, VAT code, payroll category, item,
stock 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
„
an item with a zero quantity in stock
„
an activity slip, provided that the time billing invoice on
which it was billed has been deleted or purged
„
an activity, provided that all the activity slips you’ve recorded
for it have been purged
„
a foreign currency record that has not been linked to a card.
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.
Combining records
In some situations you may want to combine two records. For
example, you may have records in your cards list for two
suppliers who have merged their operations. Or you may have
separate accounts for two departments whose sales figures you
now want to combine.
When you combine two records, you identify one as the primary
record and the other as a secondary record. The primary record
becomes the owner of all the transaction details (transactions,
jobs, history and so on) currently linked to the secondary record
and the secondary record is deleted.
Historical reports When you view historical reports from
the previous financial year (for instance, the previous financial year’s
balance sheet), the primary account is listed showing the combined
account balance.
NOTE :
COMBINING RECORDS
Combining Cards
You can combine:
„
customer cards
„
supplier cards
„
personal records.
You cannot combine:
„
employee cards
„
cards with a different type
„
cards with different currencies (MYOB Accounting Plus only)
„
cards if the primary card is inactive.
175
When cards are combined, the non-transaction card information
for the primary card—such as card name, address and buying
and selling details—is retained as the default information for the
combined card. The transaction details for the secondary card are
added to the primary card. Non-transaction information for the
secondary card is deleted.
6
In the next confirmation window, click OK to confirm you
want to combine the two cards.
To combine two cards
„
local currency accounts (MYOB Accounting Plus only)
Combining accounts
You can combine accounts that are:
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
„
accounts of the same account type (for example, asset and
expense accounts cannot be combined) and
2
Select the primary card.
„
detail accounts.
3
Click Combine Cards. The Combine Cards window appears.
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 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.
CAUTION :
5
176
NOTE : 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.
To combine two accounts
1
Go to the Accounts command centre and click Accounts
List. The Accounts List window appears.
2
Select the primary account. This is the account that the
secondary account’s transaction history and opening balance
will be transferred to.
Click Combine Cards.
CHAPTER 12
LISTS
3
Click Combine Accounts. The Combine Accounts window
appears.
4
Select the secondary account from the Secondary - Remove
all transactions from list.
CAUTION : The next action cannot be undone Before
continuing, check that you’ve selected the correct accounts to
be combined. If you combine the wrong accounts, you will have
to restore them from a backup and re-enter transactions posted
to the accounts since the backup.
5
Click Combine Accounts.
6
When the next window appears, click OK to confirm you
want to combine the two accounts.
The primary account appears under the Primary - Move all
transactions to list. If necessary, you can choose another
primary account from the list.
COMBINING RECORDS
177
178
CHAPTER 12
LISTS
A transaction is an entry that changes the balance of accounts. MYOB software creates transactions when you record entries such as sales
invoices, purchase orders or stock 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, depending on the
information you have at hand.
Use the...
To find...
See
Find Transactions
window
journal entries, sales, purchases,
cheques, deposits, supplier and
customer payments.
page 180
Sales Register
transactions relating to sales (such
as open and closed invoices),
quotes, orders, credits and returns.
This search method is most useful if
you know the transaction date or
the customer’s name.
page 180
179
Use the...
To find...
See
Purchases
Register
transactions relating to purchases
(such as open and closed
purchases), quotes, orders, debits
and returns. This search method is
most useful if you know the
transaction date or the supplier’s
name.
page 180
Bank Register
spend money, pay suppliers, receive
payments and receive money
transactions.
page 181
Items Register
stock item transactions for a
particular date range. This includes
stock adjustment, auto-build and
move items transactions.
page 181
TRANSACTIONS
13 Transactions
Use the...
To find...
See
Transaction
Journal window
any transaction by source journal.
page 182
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 182
To find a transaction using the Sales Register window
The Sales Register window lists all open and closed invoices,
quotes, orders, returns and credits.
1
Go to the Sales command centre and click Sales Register.
The Sales Register window appears.
2
Click the tab of the sales category you would like to view, for
example, All Sales.
3
[Optional] Filter your search using the Search By and date
range fields. The transactions that match your search criteria
appear in the Sales Register window.
4
If you want to view a transaction in detail, click the zoom
arrow ( ) next to it.
To find a transaction using the Find Transactions
window
1
From any command centre, click Find Transactions.
2
In the Find Transactions window, click the appropriate
tab—for example, the Card tab—to search by card.
3
Filter your search using the Search By and date range fields.
For example, to search for all transactions made during
January 2007, relating to customer Acme Sales Ltd., you
would make the following selections in the Card tab view.
4
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. For
more information, see ‘Advanced filters’ on page 205.
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.
To find a transaction using the Purchases Register
window
The Purchases Register window lists all open and closed
purchases, quotes, orders, returns and debits.
NOTE :
180
1
Go to the Purchases command centre and click Purchases
Register. The Purchases Register window appears.
2
Click the tab of the type of purchase you would like to
view—for example, All Purchases.
CHAPTER 13
TRANSACTIONS
4
3
4
[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.
If you want to view a transaction in detail, click the zoom
arrow ( ) next to it.
To find a transaction using the Bank Register window
If you want to view a transaction in detail, click 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.
You can use the Bank Register window to find spend money, pay
suppliers, receive payments and receive money transactions.
1
Go to the Stock Control command centre and click Items
Register. The Items Register window appears.
1
Go to the Banking command centre and click Bank Register.
The Bank Register window appears.
2
In the Search By field, select whether you want to view
transactions for all items or a single item.
2
Select the bank, credit card or petty cash account you used
for the transaction in the Account field.
3
If you selected Item at step 2, type or select the item number
in the adjacent field.
3
In the Dated From and To fields, enter the date range during
which the transaction was recorded. The transactions that
match your search criteria appear in the Bank Register
window.
4
In the Dated From and To fields, enter the date range during
which the transaction was recorded. The transactions that
match your search criteria appear in the Items Register
window.
FINDING A TRANSACTION
181
5
4
If you want to search for a range of journal ID numbers, enter
the range in the ID From and To fields. All transactions with
IDs between (and including) these numbers will be listed.
5
If you want to view a transaction in detail, click the zoom
arrow ( ) next to it.
If you want to view a transaction in detail, click the zoom
arrow ( ) next to it.
To find a transaction using the Transaction Journal
window
The Transaction Journal window groups all your accounting
entries into one of six journals: nominal, disbursements, receipts,
sales, purchases and stock. You can display all transactions in the
Transaction Journal window.
1
Click Transaction Journal from any command centre (except
Card File). The Transaction Journal window appears.
2
Click the appropriate tab—for example, the Sales tab to find
a sales invoice, the Disbursements tab to find a payment,
and so on.
3
In the Dated From and To fields, enter the date range during
which the transaction was recorded.
To find a recurring transaction
1
Go to the Lists menu and choose Recurring Transactions.
The Recurring Transactions List window appears.
All transactions between (and including) these dates will be
listed.
182
CHAPTER 13
TRANSACTIONS
2
Locate the recurring transaction. You can:
„ sort the transactions by name, type or frequency
„ search for a transaction by name, amount or due date.
For more information on changing the details of a recurring
transaction, see ‘Recurring transactions’ on page 185.
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
be changed or deleted only if it is changeable. A changeable
transaction has a white zoom arrow ( ) next to it.
To check if transactions are changeable, make sure the
Transactions CAN’T be Changed; They Must be Reversed
option is deselected on the Security tab view of the Preferences
window. Note that when you install your MYOB software, this
preference is not selected.
If you want to maintain a strict audit trail, you should consider
making transactions unchangeable. You can select this
preference at any time. An unchangeable transaction is identified
by a grey zoom arrow ( ) next to it.
If you make your transactions unchangeable, you need to reverse
a transaction to cancel its effect on your accounts—see
‘Reversing a transaction’ on page 184.
Changing a transaction
Before changing a transaction, note the following:
Some transactions cannot be changed You cannot change a
customer payment, supplier payment, paycheque, refund
cheque or a bank deposit once it has been recorded. You can only
CHANGING OR DELETING A TRANSACTION
delete or reverse these transactions. For more information, see
‘Reversing a transaction’ on page 184.
To change a transaction
1
Find and display the transaction in its original transaction
window. See ‘Finding a transaction’ on page 179.
2
Make the necessary changes to the transaction and then click
OK.
Deleting a transaction
When you delete a transaction, it is permanently removed from
your records. Note the following when deleting a transaction:
Sales and purchases You can only delete a sale or purchase
that does not have a payment applied to it. If you have recorded
a payment for a sale or purchase, you must first delete the
payment and then delete the transaction. Any discounts that
have been given must also be deleted before the transaction can
be deleted.
If you applied a supplier debit towards a purchase, you must
delete the debit before you can delete the purchase. A credit note
applied to a sale must also be deleted before the sale can be
deleted.
183
Group receipts in the undeposited fund transactions
account If you want to delete an individual receipt that was
recorded as part of a bank deposit of receipts grouped in the
undeposited funds account, you must first delete the bank
deposit. When you delete a bank deposit, all 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’
below.
Insufficient on-hand stock You cannot delete a purchase if it
will result in a negative on-hand stock count.
To delete a transaction
1
Find and display the transaction in its original transaction
window. See ‘Finding a transaction’ on page 179 for
instructions.
2
Go to the Edit menu and choose Delete [...]. For example, if
you want to delete a sale, choose Delete Sale. The
transaction will be removed permanently from your records.
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.
Transactions CAN'T be Changed; They Must be Reversed
preference on the Security tab view of the Preferences window.
You can change this preference at any time.
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.
Note the following when reversing a transaction:
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.
Before you can reverse a transaction
You can only reverse a transaction if it is unchangeable. An
unchangeable transaction is identified by a grey zoom arrow ( )
next to it. To make your transactions unchangeable, select the
184
Reversing a transaction can affect closed periods When you
reverse a transaction, be aware of the transaction 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.
Customer and supplier payments Note that if an early
payment discount was applied to a sale or purchase, you also
need to reverse the discount. For more information about how to
find a transaction, see ‘Finding a transaction’ on page 179.
CHAPTER 13
TRANSACTIONS
Negative Stock You cannot reverse a purchase that will result
in a negative on-hand stock count.
3
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.
NOTE :
To reverse a transaction
1
Display the transaction you want to reverse. See ‘Finding a
transaction’ on page 179 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.
If you want, alter the date and memo. Note that you can’t
change the accounts and amounts.
4
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 transactions that you record time and time again—for
example, a rent cheque or depreciation expenses—you can set
them up as recurring transactions and save them for future use.
on, you can change details of a recurring transaction, or delete
one if it is no longer used.
After setting up a recurring transaction, you can specify that it is
recorded automatically if the transaction details are the same
each time—such as a rent payment. Or you can find the
appropriate one each time you need to record a transaction, alter
the details if required (for example, if you make regular sales to a
customer and vary the items), and record the transaction.
You can make the following transactions recurring: sales,
purchases, cheques, deposits and nominal 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
See
Create a recurring transaction
below
Create a recurring transaction from an existing entry
page 187
Edit a recurring transaction
page 187
Delete a recurring transaction
page 188
To create a recurring transaction
When you save a transaction as recurring, 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
RECURRING TRANSACTIONS
If you want to ...
Enter the transaction details in a transaction window—such
as the Sales window if you make regular sales to a customer.
185
2
Click Save as Recurring (instead of clicking Record). The
Edit Recurring Schedule window appears.
Choose alert options
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.
Note that 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 record automatically.
3
7
If you want to set a reminder:
a Click Remind.
b Select a reminder option from the to record this
transaction list.
c If you selected No.days in advance, enter the number of
days in the adjacent field.
d Select the user to be reminded from the adjacent list.
e Continue with step 9 below.
8
If you a recurring transaction to record automatically:
a Click Automatically record this transaction when due
and notify.
b Select the user who needs to be notified from the adjacent
list.
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.
Pre-dated recurring transactions You can save a
recurring transaction with a start date prior to the system date,
provided the date entered is within the current financial year
and is not in a locked period.
NOTE :
6
186
Indicate how long you want the recurring transaction to
continue. Click:
„ Continue indefinitely to schedule the transaction for an
unlimited period.
„ Continue until this date to schedule the transaction until
a set date. Type the date in the adjacent field.
„ Perform this No. of times to schedule the transaction for
a set number of times. Type the number of times in the
adjacent field.
Specify the transaction identification number
9
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 [...] No.
„ If you want to enter a transaction ID, click Use the
following as the [...] No., then type the transaction ID in
the adjacent field.
10
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.
CHAPTER 13
TRANSACTIONS
11
Click Save. The transaction window reappears.
12
Click Cancel to close the transaction window.
6
The new recurring transaction will now appear in the
Recurring Transactions List window. See ‘To find a recurring
transaction’ on page 182.
Click Save.
If you selected...
then...
One card in the
Select from List
window
•
To create a recurring transaction from an existing
entry
•
You can create a recurring transaction by copying an existing
recurring transaction entry, then customising the details for
the new one.
1
Go to the Lists menu and choose Recurring Transactions.
The Recurring Transactions List window appears.
2
Select the recurring transaction you want to copy and click
Create Copy. The Create Copy window appears.
3
In the Card field, click the search icon (
4
5
Select the card you want to create a copy for:
„ If you want to select all the cards listed, click the select icon
( )
„ If you only want to select some cards, click in the select
column next to each card required.
Click OK when you’ve finished selecting from the list. The
Create Copy window reappears.
RECURRING TRANSACTIONS
More than one card
in the Select from
List window
•
•
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.
To change transaction details for a new
transaction, select it and click Edit. Make
the changes in the transaction window
and click Save. The Recurring
Transactions List window appears.
7
If you need to change the schedule details (including the
name) of a new recurring transaction:
a Select the recurring transaction.
b Click Edit Schedule.
c Make the changes in the Edit Recurring Schedule
window.
d Click Save.
8
Click Close.
).
The Select from List window appears listing only card types
relevant to the type of recurring transaction you are copying.
For example, a purchase transaction can only be applied to
your supplier cards.
•
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.
To edit a recurring transaction
You can edit the details of a recurring transaction (such as the
cheque details of a Spend Money transaction) and update the
transaction schedule.
1
Go to the Lists menu and choose Recurring Transactions.
The Recurring Transactions List window appears.
2
To change the recurring transaction details:
187
a Select the recurring transaction you want to change and
click Edit. The transaction window appears.
b Make the necessary changes.
c Click Save.
3
4
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.
Click Close.
You can also record a recurring transaction from 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
Display the transaction window for the type of recurring
transaction you want to use. For example, for a recurring
purchase transaction, open the Purchases window by
clicking Enter Purchases in the Purchases command centre.
2
Click Use Recurring. The Select a Recurring Transaction
window appears listing only recurring transactions for this
type of transaction.
3
Choose the required transaction from the list and then click
Select. The transaction appears.
4
Verify the date, amount, account and other details and make
any necessary changes.
5
Click Record.
To delete a recurring transaction
Deleting a recurring transaction only removes it from your list of
recurring transactions. Recurring transactions recorded
previously are not affected.
1
Go to the Lists menu and choose Recurring Transactions.
The Recurring Transactions List window appears.
2
Select the recurring transaction you want to delete and click
Delete. A message appears.
3
Click OK to delete the recurring transaction.
Recording recurring transactions
For recurring transactions that are not set up to be recorded
automatically, you can:
„
record a single recurring transaction from a transaction
window—see below
„
record multiple transactions at the same time—see page 188.
If you use the reminders option, you can record a recurring
transaction from the Reminders window. For more information,
see ‘Responding to reminders for recurring transactions’ on
page 189.
188
To record multiple recurring transactions
1
From any command centre, click To Do List. The To Do List
window appears.
2
Click the appropriate tab—Recurring Sales, Recurring
Purchases or Recurring Transactions (for all other recurring
transactions).
In the list of transactions that appears, you can click the zoom
arrow ( ) next to the transaction to view it in detail.
CHAPTER 13
TRANSACTIONS
3
Click in the select column ( ) next to any recurring
transactions you want to process.
The options available in this window depend on the status of the
highlighted recurring transaction (if more than one is showing).
For example, if the highlighted transaction has a due date of
today or is overdue, the Remind Tomorrow and Remind When
Due buttons are not available.
To respond to the Reminders window
1
In the Reminders window, choose the required option.
Click
If ...
4
Click Record. A window appears, requiring you to enter a
date for the selected transactions. This is the date that the
transactions will be recorded in your journals.
Skip This Period
You don’t want to record the transaction this
period.
The reminder is removed from the list.
5
Enter a date and click OK.
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.
Responding to reminders for recurring
transactions
You can use your MYOB software to remind you on or before the
scheduled date of a recurring transaction—as shown in ‘Choose
alert options’ on page 186. If you use this option, your MYOB
software checks the reminder dates each time you open your
company file. When a recurring transaction is due (or overdue),
the Reminders window appears.
RECURRING TRANSACTIONS
2
Click Close. The Reminders window will appear next time
you open the company file.
189
190
CHAPTER 13
TRANSACTIONS
REPORTS
14 Reports
You can use your MYOB software to monitor your business with over 100 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 reuse when required.
Producing reports
You can print, email or fax reports, output them to various file
formats or export them to other software for further
modifications.
If you want to...
See
Display or print a report
below
Save a report as a file
page 192
Send a report by email
page 192
Send a report by fax
page 192
View a report in Microsoft Excel
page 193
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.
To display and print a report
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.
3
If you want to reposition or resize columns:
a Select Screen Report in the View field.
191
4
If you want to limit the data that will be printed or refine the
appearance of the report, click Customise. For more
information, see ‘Customising reports’ on page 195.
5
When you have customised the report as required, click
Display. The Report Display window reappears.
6
Select Print Preview from the View list in the report toolbar.
7
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.
8
Click Print.
To save a report as a file
To send a report by email
You can save reports in various file formats so that they can be
viewed and edited in other software.
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
Select the report you want to save.
3
If you want to limit the data that will be printed or refine the
appearance of the report, click Customise. For more
information, see ‘Customising reports’ on page 195.
4
5
192
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
web 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
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, enter a name and select a 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
Select the report you want to send.
3
If you want to limit the data that will be printed or refine the
appearance of the report, click Customise. For more
information, see ‘Customising reports’ on page 195.
4
Click Send To and choose Email. The Email window appears.
5
In the Name field, type or select the individual or
organisation you want to send the report to.
6
If necessary, add or change the email address.
7
Enter 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 a report 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
To limit the data that will appear in the report, click
Customise and specify the data you want. For more
information, see ‘Customising reports’ on page 195.
4
Click Send To and choose Fax.
5
Use your fax software to send the fax as you normally would.
CHAPTER 14
REPORTS
To view a report in Microsoft Excel
Modifying OfficeLink templates for Microsoft Excel
Viewing saved reports in Microsoft Excel You can also
open reports in Excel that you have saved as tab-delimited files,
comma-separated files or unformatted text files.
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.
NOTE :
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 limit the data that will be printed or refine the
appearance of the report, click Customise. For more
information, see ‘Customising reports’ on page 195.
4
Click Send To and choose Excel. Microsoft Excel starts and
the selected report appears.
CAUTION : Use caution when modifying Excel templates If you
modify the Excel templates, do not move the [[Tbl:Body Table]]
field. This field must be located in Column B, row 15, in order for
each report’s total amounts to be calculated correctly. If you move
[[Tbl:Body Table]], the totals will be inaccurate.
Also note that if you want to perform additional calculations using
the exported report data, you should either create a macro that will
perform the calculation after the report is imported, or place your
reference fields on a separate spreadsheet and update it after the
report is imported. Please refer to your Excel documentation for
specific help.
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.
Single-user access required [MYOB Accounting Plus
only] 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 268.
NOTE :
PRINTING REPORT BATCHES
To create a report batch
NOTE : Reports 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.
193
1
Go to the Reports menu and choose Report Batches. The
Report Batches window appears.
2
Select the required period from the Period list.
You can choose any of the months or quarters in the current
financial year, or you can choose to print information for the
entire year to date.
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
Select the report batch you want to print and click Print. Each
report in the batch is printed.
To change a report batch
2
Click New. All the reports that can be batched appear.
3
Enter a name for the batch.
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.
5
1
Go to the Reports menu and choose Report Batches. The
Report Batches window appears.
2
Select the name of the batch you want to change and click
Edit. The New/Edit Batch window appears.
3
If you want to, you can change the batch name and which
reports are included in the batch. (Click a report to select or
deselect it.)
4
Click OK to save your changes.
Click OK. The Report Batches window reappears with the
name of the new batch displayed in the list.
To print a report batch
1
194
Go to the Reports menu and choose Report Batches. The
Report Batches window appears.
To delete a report batch
1
Go to the Reports menu and choose Report Batches. The
Report Batches window appears.
2
Select the name of the batch you want to delete.
3
Go to the Edit menu and choose Delete Batch.
CHAPTER 14
REPORTS
Customising reports
You can customise a report, print it immediately and then revert
the report to the original settings. Alternatively, if you want to
retain a report’s modifications, you can save it. When you save a
customised report, it appears in the Custom view of the Index to
Reports window.
To filter reports in the Report Display window
Follow the steps below to customise a report.
Task
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Select the report you want to customise.
3
Click Display. The Report Display window appears.
4
Filter the report using the toolbar that appears in the top
section of the Report Display window. (Note: 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 Customisation window’ below.
See
1
Select the data to be printed
below
2
Specify the required fields
page 196
3
Select finishing options
page 197
4
Change the report format
page 197
5
Print the report
page 198
6
Save the report
page 198
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 Customisation window or the Report Display window.
CUSTOMISING REPORTS
To filter reports in the Report Customisation window
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Select the report you want to customise.
3
Click Customise. The Report Customisation window
appears. The customisation options that appear depend on
the report being customised.
195
The example below shows the options available for the
Closed Invoices report (which is one of the Sales reports).
„
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 select only accounts whose numbers begin with 1, enter
1* in the Selected field in the Report Customisation 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
A
B
4
The top section of the window enables you to limit the report to:
• a particular customer, supplier or employee
• records with particular values in custom lists.
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: Specify the required fields’ below and ‘Task 3: Select
finishing options’ on page 197).
Refine your search criteria in the Advanced Filters tab.
Using wildcards to filter reports
Wildcards are special characters that give you more flexibility
when selecting which records, such as account numbers and
invoice numbers, you want to include in a report.
You can use two wildcard characters, the asterisk (*) and the
question mark (?), in the Report Customisation window.
196
Asterisk: Use the asterisk in the Report Customisation
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.
„
Question mark: The question mark wildcard allows you to
limit your report to elements that contain only a specific
number of characters.
For example, 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 Customisation window,
enter C?? to limit the report to three-character jobs that begin
with C.
Task 2: Specify the required fields
In the Report Fields tab of the Report Customisation 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.
CHAPTER 14
REPORTS
1
Task 3: Select finishing options
Click the Report Fields tab.
The Finishing tab in the Report Customisation window
provides a number of miscellaneous options, such as what
default text to add to the report, whether you want the report
added to the Reports menu, and so on. These options vary
depending on which report you select.
A
To select finishing options
1
Click the Finishing tab.
2
If you want to add the customised report to the Reports
menu so that you can reuse these customised 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.
Note that 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.
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, mark
the field by clicking in the select column ( ). This adds the
field name to the Selected Fields column.
B
Fields in the Selected Fields column are those that will be
printed on the selected report. From the top down, the
sequence of fields in this column is in the order the fields will
appear in the report. The first field will appear as the left column
of the report, the second field will appear in the next column,
and so on.
If you want to change the order in which the fields are printed,
display the report and choose Screen Report from the View list.
You can then drag the column headers to new positions. See
‘Producing reports’ on page 191.
Select the fields you want to appear on the report.
CUSTOMISING REPORTS
197
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, colours, alignments and effects, and by changing the
report’s page margins.
1
Click Display to display the report.
2
If you want to see how the report will look when printed,
select Print Preview from the View field.
3
To print the report, click Print.
1
Click Format in the Report Customisation window. The
Report Format window appears.
Task 6: Save the report
A
C
D
B
2
198
A
Make a selection in the Report Line field to choose the section of
the report you want to customise, and then change the formats
as required.
B
If you have formatted a report and want to change it back to its
original format, click Default.
C
The right side of the Report Format window shows a preview of
the currently selected report section.
D
To change the report’s margins, make entries in the margin
fields.
When you have finished formatting the report, click OK.
If you plan to use a report’s design and format again in the future,
you can customise the report once, save the changes and then
re-use the report whenever you want. Once saved, you can
access your custom report from the Custom tab in the Index to
Reports window.
1
With the report displayed, click Save As. The Save As window
appears.
2
Enter a name and a brief description of the custom report and
click OK. The Report Display window appears.
3
Click Close. The Index to Reports window appears.
Note that the report you have just saved is now listed on the
Custom tab. You can run the report again by selecting it from the
Custom tab.
Custom reports are stored in a special folder When you
save a custom report, the report’s customisation information is
stored in a folder called Custom, which is located within the
folder in which the MYOB software is located. 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,
right-click the name of the report in the Custom tab of the Index
to Reports window and select Erase Custom Report. You can
also remove a custom report from the list by removing the report
from the Custom folder, which is located in your MYOB software
installation folder.
CHAPTER 14
REPORTS
Changing the default fonts on reports
Every report is assigned default fonts. You can change these
default fonts if you want 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 :
CUSTOMISING REPORTS
199
200
CHAPTER 14
REPORTS
FORMS
15 Forms
You can print all the standard business documents you send to customers, employees and suppliers: quotations, order confirmations, invoices,
packing slips, delivery labels, statements, purchase orders, cheques, receipts, remittance advice, pay slips (MYOB Accounting Plus only) and
mailing labels.
In your MYOB software, you can print forms individually as you complete a transaction (for example, an invoice for a cash sale) or print batches
of forms (for example, a monthly cheque run for supplier payments). When printing batches, choose which forms to print by applying selection
criteria. For example, you can choose to print statements only if the balance of the customer’s account is not zero.
You can also print forms onto stationery with a preprinted logo and contact details, or use plain stationery and include your business name and
contact details. If you already have preprinted stationery, you can still customise the appearance of your forms. Invoices and statements are those
most commonly customised, but cheques, purchase orders and labels can also be customised. You can change the size of the form, print multiple
forms on a single page, change fonts, move fields, create text labels, and add your own logos and graphics. You can also create multiple forms of
one type, for example, one invoice with your logo and another without it.
Note that your forms are stored in their own Forms folder within your software’s installation folder. This allows you to share forms among your
company files and easily transfer them from one computer to another.
201
Finding forms
Forms can be accessed through the relevant functions in each
command centre. For example, remittance advices are accessible
through the Print/Email Remittance Advices function in the
Purchases command centre, etc.
„
To find forms
1
Go to the appropriate command centre, for example, Sales
for invoices.
2
Find the type of form you want and click the relevant
command centre function—see the following tables:
„ Banking command centre
„
202
Type of form
Command centre function
Cheques
Print Cheques
Receipts
Print Receipts
Remittance Advices
Print/Email Remittance Advices
Sales command centre
Type of form
Command centre function
Sales
Print/Email Invoices
Packing slips
Print/Email Invoices
Labels
Print/Email Invoices
Statements
Print/Email Statements
Receipts
Print Receipts
„
„
Purchases command centre
Type of form
Command centre function
Purchases (item, service
and professional)
Print/Email Purchase Orders
Cheques (payable)
Print Cheques
Remittance Advices
Print/Email Remittance Advices
Payroll command centre [MYOB Accounting Plus only]
Type of form
Command centre function
Paycheques
Print Paycheques
Pay slips
Print/Email Pay Slips
Card File command centre
Type of form
Command centre function
Mailing labels
Print Mailing Labels
Personalised letters
Create Personalised Letters
CHAPTER 15
FORMS
Sending forms
You can send forms when you record a transaction, or later, as a
batch.
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
If you want to set up sales:
a Click the Sales tab and select the Automatically […] Sales
When They Are Recorded (Invoices, Orders and
Quotes) option.
b Choose Print, Email, Fax or Save to Disk from the list.
3
If you want to set up purchases:
a Click the Purchases tab and select the Automatically […]
Purchases, Orders and Quotes When They Are
Recorded option.
b Choose Print, Email, Fax or Save to Disk from the list.
4
Click OK.
Sending forms immediately
You can print, email or fax forms when you record transactions in
the Sales and Purchases window.
You can also print, preview or email remittance advices or
cheques when you record transactions in the Spend Money, Pay
Bills or Settle Returns & Credits window.
Sending forms in a batch
You can print and email sales, purchase and remittance advices in
a batch, and send these to your customers and suppliers. You can
do this from the following windows.
„
Sales—select either To be Emailed, To be Printed or To be
Printed and Emailed from the Invoice Delivery Status field
in the Sales window.
Automatically print, email, fax or save sales and
purchases
You can set up your preferences so that you can automatically
print, email, fax or save sales and purchases when you record
them.
SENDING FORMS
203
„
Purchases—select either To be Emailed, To be Printed or To
be Printed and Emailed from the Purchase Del. Status field
in the Purchases window.
„
Remittance Advices—select either To be Emailed, To be
Printed or To be Printed and Emailed from the Remittance
Advice Delivery Status field in the Spend Money, Settle
Returns & Credits or Pay Suppliers windows.
2
Click the To Be Printed tab.
3
Make a selection in the [...] Type field. For example, if you
want to print item invoices, select Item.
4
Click in the select column ( ) next to a transaction you want
to be printed. 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
Enter the number of copies you want to print in the Print [...]
Copies field. If you also want to print packing slips or mailing
labels, enter the number of copies in the Packing Slips and
Labels fields.
7
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 205.
8
Click Print.
After you have completed a number of transactions, say, the
day’s invoices, you can print or email the forms in a batch.
See:
„
‘To print forms’ below
„
‘To email forms’ on page 205.
To print forms
1
204
Click on the command centre function for the forms you
want to print. For example, if you want to print a sales
invoice, go to the Sales command centre and click
Print/Email Invoices. The Review Sales Before Delivery
window appears.
CHAPTER 15
FORMS
To email forms
1
2
Click on the command centre function for the forms you
want to print. For example, if you want to email a remittance
advice, go to the Purchases command centre and click
Print/Email Remittance Advices. The Review [...] Before
Delivery window appears.
Click the To Be Emailed tab.
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’ below.
9
Click Send Email.
Advanced filters
You can filter the amount of information and change the
stationery you use when you print or email a form. You can do
this in the Advance Filters window.
1
Click Advance Filters in the Review [...] Before Delivery
window.
Select the transactions
3
Make a selection in the [...] Type field. For example, if you
want to email a remittance advice to a supplier, select Pay
Suppliers.
4
Click in the select column ( ) next to the transaction you
want to be emailed. If you want to email all the forms, click
the icon in the heading of the select column.
5
If you want to view the transaction details, click the zoom
arrow ( ) next to the transaction.
6
If you want to change a recipient’s email address, highlight
their name and click the down arrow next to the Email
Address field and select another address from the card.
Alternatively, enter 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.
SENDING FORMS
2
In the top section of the Advanced Filters window, select the
forms you want to print or email.
3
If you want to filter the forms, enter a date range or reference
number range (for example, cheque numbers) in the middle
section of the window.
Select the stationery
4
In the Selected Form for [...] field, select the stationery you
want to use when you print or email your forms.
205
Several stationery choices are available, depending on the
type of form you are currently working with.
Preprinted
Select preprinted stationery if you want to print on
paper that already contains lines, columns and
headings.The preprinted stationery is designed to
match most commonly used forms provided by
third-party forms suppliers. Note that this type of
stationery is not suitable for emailing forms.
Plain-paper
Select plain-paper stationery if you want to print
on blank paper. Lines, columns and headings are
automatically printed with the form’s information.
Customised
Select any customised stationery forms if you want
to print a form you have already customised. See
‘Customising forms’ on page 206 for more
information about customising forms.
If you are using continuous-feed paper or pre-printed
stationery. If you want to test the alignment of the
information that will be printed using sample data, click Print
Alignment Form.
TIP :
5
When you have finished making your selections in the
Advanced Filters window, click OK.
Customising forms
You can change the look and content of printed cheques,
remittance advices, invoices, pay slips, 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 customised stationery so that you can
select it when you print or email the form.
If more than one user is accessing a company file, you should:
„
Create custom forms in the Forms folder on the host
computer on which the company file is stored
„
Copy any custom forms from the host computer to the Forms
folder on each workstation that accesses the company file.
Back up forms stationery Back up the Forms folder
before customising any forms so you can always revert to the
originals.
CAUTION :
Changing the layout of tax forms The layouts of tax
forms such as P14s and P60s are designed to align with fields on
pre-printed HMRC forms. If you customise the layout of these forms,
data may not align correctly with the fields when you print.
CAUTION :
206
CHAPTER 15
FORMS
Complete the following steps to create, save and print your
customised forms.
Task
A
B
C
D
See
1
Display the form
below
2
Set up form properties
page 208
3
Adding and editing elements
page 208
4
Preview the customised form
page 208
5
Save the customised form
page 208
6
Print the customised form
page 209
Task 1: Display the form
1
2
Go to the Setup menu, choose Customise Forms and choose
the type of form you want to customise. The Customise
Forms window appears.
A
Tool palette
The tool palette provides you with
customisation tools.
B
Preview
Click Preview to view your form on screen.
Select the form you want to customise in the Form to
Customise field and click Customise. The Customise [...]
window appears.
C
Layout
Select the required layout for a cheque stub.
Note that this is only displayed if you are
customising a cheque.
D Data fields
Data fields contain system-generated
information.
NOTE : Cheques have two parts A cheque form has two parts: the
cheque itself and the stub. You customise the cheque and the stub
separately. In the cheque Customise window, select the appropriate
stub layout in the Layout field. For example, the Regular layout is
assigned to cheques recorded in the Spend Money window and the
Payable layout is assigned to cheques recorded in the Pay Suppliers
window.
CUSTOMISING FORMS
207
Task 2: Set up form properties
Set up the paper and form sizes
1
Click the form properties (
) button in the tool palette of
the Customise [...] window.
Task 3: Adding and editing elements
Add, remove or edit elements—such as text, graphics and
lines—according to your needs. For more information, see
‘Adding and editing graphic elements’ on page 211.
Task 4: Preview the customised form
2
The Forms Properties window displays two tabs: the Layout
tab and the Options tab.
At any time during the customisation process, you can display a
preview of your work.
In the Layout tab:
a Specify the number of forms you want to print per page.
b Select the required type of paper from the Paper list.
c Enter the margins for the page.
d Specify the width and length of the form (not the paper) in
the Form Size fields. For example, if you are printing four
cheques per A4 page, enter the width and length of a
single cheque, not the width and length of the A4 page.
1
The form is displayed in the Print Preview window.
2
If you want to view the form in more detail, alter the default
value (75%) in the Zoom field and press TAB.
3
If you want to check your current printer and page settings,
click Print Setup.
In the Options tab:
a Specify the grid options for the form, such as whether to
display a grid, the size of the grid and whether to use the
snap-to-grid feature for aligning fields.
b Specify the background for the form by clicking Insert
Background and selecting the image file to use as the
form’s background.
c If you have chosen a background image, specify where the
image is to be displayed on the form.
4
When you have finished previewing the form, click Close in
the Print Preview window.
Click OK.
If you want to create a new custom form stationery that contains
the changes you have made, click Save Form As. The Save As
window appears. Enter a name and a brief description for the
new layout and click OK.
Set up the grid and add a background graphic
3
4
208
Click the preview button in the tool palette of the Customise
[...] window.
Task 5: Save the customised form
When you are satisfied with the changes you have made to the
form, you should save the customised form.
If you have modified a custom form you created previously, click
Save Form.
CHAPTER 15
FORMS
Task 6: Print the customised form
Printing a customised form is the same as printing an unchanged
form. However, before you can print using your customised form,
you need to select the from in the Selected Form for [...] field in
the Advanced Filter window. For more information on printing
forms, see ‘To print forms’ on page 204.
Changing the default fonts on forms
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.
Every form in your MYOB software is assigned default fonts. You
can change these default fonts if you prefer your forms to have a
different appearance.
Adding and editing elements
Adding and editing data and label
elements
NOTE :
Layout selection
The Layout list only appears for cheque
forms.
You can add elements to, and change elements on, a form using
the tool palette shown below:
ADDING AND EDITING ELEMENTS
209
To add a data field to a form
1
Click the add data (
) button. The Select from List window
lists all the data fields available for the form you selected.
To add a text label to a form
1
Click the add text button ( ) and then click the form where
you want to place the text field. A new text label named Text
Field appears.
2
Double-click the new label. The Field Properties window
displays the Layout tab where you specify the name, location
and size, text format and background colour of the label, and
the Borders tab where you specify the layout, colour and
width of the label’s borders.
3
Click OK to close the Field Properties window. The new label
appears in the Customise window.
If the name is longer than the size of the label, you may need to
resize it—see ‘Resize’ on page 212.
The column on the right indicates the field type (Data,
Column) and where it appears on a form. For example, the
Total field only appears on the last page.
2
Click the fields you require.
3
Click OK. The selected data fields appear on the form. Their
position depends on a number of factors, such as the number
of records they can display, previous cursor position and
other fields already on the form. You can move a field to a
better position—see ‘Editing all elements with common
commands’ on page 212.
4
If you want to change the properties of a data field,
double-click it. The Field Properties window appears.
The Field Properties window has two tabs: the Layout tab
where you specify the text, format, background colour,
location and size of the field, and the Borders tab where you
specify the layout, colour and width of the field’s borders.
5
210
To change the name of a text label
1
Double-click the text label. The Field Properties window
appears.
2
Change the name in the Text field on the Layout tab.
3
Click OK.
To change the font style of a data field or text label
1
Double-click the data field or text label to be changed. The
Field Properties window appears.
2
Click Text Format on the Layout tab. The Text Format
window appears.
3
Make selections in the Font, Font Style, Size, Justify and
Effects fields in this window.
4
If you want to change the font colour:
a Click Font Colour. The Font Colour window appears.
b Select the new colour and click OK. The Text Format
window reappears.
5
Click OK.
Change the properties as required and click OK.
CHAPTER 15
FORMS
Adding and editing graphic elements
3
You can add graphic elements to a form, such as rectangles to
visually group elements and lines to separate elements. You can
also add icons, logos, photos, location maps and other graphic
elements.
Click the add graphic button (
) in the Customise window,
then click the location on the form where you want the
graphic to appear. A graphic element appears.
4
Double-click the graphic element. The Field Properties
window appears.
5
Click Paste Picture. The graphic appears in the Preview
Picture area.
6
Specify the field location and element size for the graphic.
7
Click OK. The graphic appears in the Customise window.
To add a graphic file to a form
1
2
Click the add graphic button (
) in the Customise window
and then click on the form where you want to place the
graphic. A new graphic element appears.
Double-click the graphic element. The Field Properties
window appears.
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.
To draw a rectangle on a form
1
Click the rectangle button (
3
Click Load Picture. The Open window appears.
2
4
Select the graphic file and click Open. The Field Properties
window displays the graphic in the Preview Picture area.
Click and hold the mouse at the location on the form where
you want the top left corner of the rectangle to appear.
3
Drag to the right and down to where you want the rectangle
to end and then release the mouse button.
5
Specify the field location and field size for the picture.
6
Click OK to close the Field Properties window. The picture
appears in the Customise window.
To change the thickness of a line or rectangle
1
Double-click the line or rectangle. The Field Properties
window appears.
2
Choose a thickness in the Line Size section of the Field
Properties window.
3
Click OK.
To paste a graphic element into a form
You can paste almost any graphic that can be placed on the
clipboard into a form, regardless of its graphic format.
1
Open your graphic file in any graphics software.
2
Copy the graphic to the clipboard.
ADDING AND EDITING ELEMENTS
).
211
Editing all elements with common
commands
To...
Do this...
Drag and drop
1
Click the element and hold down the mouse
button. Notice that the cursor changes to a
hand pointer.
2
Drag the element to the desired location. In
the example below, the [Invoice No] data
field is being dragged below its original
position.
1
Double-click the element you want to move.
The Field Properties window appears.
2
In the Field Location fields on the Layout tab,
enter the distance from the top and left edges
of the form to the top left corner of the
element.
3
Click OK.
1
Select the element you want to send behind
another element.
2
Click the send to back button (
1
Select the element you want to bring in front
of another element.
2
Click the bring to front button (
The following editing procedures are applicable to any element.
To...
Do this...
Copy and paste
1
2
Click an element once to select it.
Go to the Edit menu and choose Copy.
Note that if you want to paste the element
onto another form, display that form in the
Customise window.
3
Go to the Edit menu and choose Paste. A
copy of the element appears in the window.
Change
coordinates
Note: Pasting the element onto another
form If you want to paste the element onto
another form, display that form in the
Customise window.
Delete
212
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, click the undo button ( ) or press CTRL + Z.
Resize
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.
Send to back
Bring to front
).
).
There are also procedures specific to particular kinds of
elements—see ‘Adding and editing elements’ on page 209 and
‘Adding and editing graphic elements’ on page 211.
CHAPTER 15
FORMS
The Card File is a repository of contact records, known as cards, that you can create for your customers, suppliers, employees and personal
contacts. A card lets you store contact information and enables you to track and analyse the transaction history for each individual and business.
Creating a card
You need to create a card for an individual or business if you want
to perform any of the following tasks:
If you want to create a card for…
See
„
record sales and track the amounts owing to you
an employee
page 105
„
record purchases and track the amounts owing to suppliers
a friend or relative
below
„
[MYOB Accounting Plus only] record paycheques and print
payroll reports (such as P11’s and P45’s)
To add a personal card
„
print mailing labels
1
„
print personalised letters
Go to the Card File command centre and click Cards List.
The Cards List window appears.
„
record contact details.
2
Click New. The Card Information window appears.
3
Select Personal from the Card Type list.
When you set up your company file, you may have created cards
for your customers and suppliers. In addition to these cards, you
can create employee cards and personal cards for your friends
and relatives.
If you want to create a card for…
See
a customer
page 59
a supplier
page 81
213
CONTACT MANAGEMENT
16 Contact management
4
Type the name for the card and press TAB.
5
If you want to, complete the other fields in the Profile tab.
6
Click the Card Details tab. In this tab, you can:
„ add a picture—see ‘To link a picture’ on page 228.
„ enter identifiers—these are useful for grouping your cards.
See ‘To select contacts using Card IDs’ on page 228.
„
7
use custom lists and fields—you can record additional
information about the card. See ‘Customising cards’ on
page 227.
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 your contacts, such as
payment reminders, thank-you letters, or special offers.
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.
Personalised letters
You can create personalised letters (also known as mail-merge
letters) for any of your contacts. A personalised letter is a
document template that contains standard text as well as fields
that can be automatically filled with data stored in your company
file.
Personalised letters are useful when you need to send the same
letter to several contacts. For example, you may want to send
several slow-paying customers a payment reminder letter.
Instead of entering each contact’s information on the letters
yourself, you can set up a letter template that contains the text
you want to appear, and insert data fields that automatically fill in
with the contact’s name, address and the amount owing.
Printing personalised letters using Microsoft Word and
OfficeLink OfficeLink is a feature that automates the process of
merging contact information stored in your company file with a
Microsoft Word template (a .dot file). Your MYOB software
214
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.
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.
The following table summarises the templates provided with
your software.
Use this template...
When you want to...
Apology.dot
apologise 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.
CHAPTER 16
CONTACT MANAGEMENT
Use this template...
Coll_2nd.dot
Coll_3rd.dot
Coll_fin.dot
When you want to...
Click Mail Merge. The Select from List window appears.
4
Select the template you would like to use and then click Use
Template.
express greater urgency than Coll_1st.dot and
request that your customer contact you
immediately.
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.
encourage customers who have overdue
payments to make a payment before their
credit history is damaged.
5
advise customers that you will turn their
account over to a collection agency if payment
isn’t made within a specified number of days.
Printing personalised letters using other word processors
Credit
Application.dot
enable your customers to formally apply for
credit.
FaxCover.dot
create a fax cover page. This page includes
room for a memo.
Resolved.dot
reply to customers who have questioned an
amount on their monthly statement. This letter
indicates that you are looking into the matter
and that you will credit the customer’s account
for the amount in question while the matter is
investigated.
ThankYou.dot
3
thank new customers for their business.
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.
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 yourself.
To print a personalised letter using other word
processors
If you want to send letters to customers with unpaid
invoices. Display the Debtors tab of the To Do List window and
click the Select 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 :
1
Go to the Card File command centre and click Create
Personalised Letters. The Review Cards Before Exporting
window appears.
2
Select the contacts to whom you would like to send a
personalised letter.
To print a personalised letter using Microsoft Word
1
Go to the Card File command centre and click Personalised
Letters. The Review Cards Before Exporting window
appears.
2
Click in the select column next to each contact to whom you
would like to send a personalised letter.
Advanced filters You can filter your contact list to only
show contacts who are located within specific postcodes by
clicking Advanced filters and entering your criteria.
Edit the letters as required and then print them using
Microsoft Word.
Advanced filters 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 :
TIP :
KEEPING IN TOUCH WITH YOUR CONTACTS
3
Click Disk. A window with a list of file formats appears.
215
4
Choose either the Tab-Delimited Text File or
Comma-Separated Text File option.
To print mailing labels
1
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.
7
If you print and send cheques, quotes, orders, invoices,
statements or personalised letters you may also want to print
mailing labels that you can stick on the envelopes.
The Print Mailing Labels function in the Card File command
centre prints your contact’s name and address on sheets of
adhesive mailing labels. You customise the way mailing labels are
printed, including their size, the number of labels per sheet and
the margins. For information about customising mailing label
forms, see ‘Customising forms’ on page 206.
216
Print invoices and labels simultaneously When you
print a batch of invoices using the Print/Email Invoices function
in the Sales command centre, you can choose to print a label
for each invoice.
TIP :
2
Click Advanced Filters. The Advanced Filters window
appears.
3
From the Selected Form for Mailing Label list, select the
form template that best matches the size and layout of your
labels and label sheets.
Use your word processing software to merge the data
contained within the text file with a letter template that you
have created.
Mailing labels
Go to the Card File command centre and click Print Mailing
Labels. The Review Labels Before Printing window appears.
If a suitable form template is not available, you can customise
an existing template to suit your requirements. For
information about customising forms, see ‘Customising
forms’ on page 206.
4
Make any other selections in the Advanced Filters window as
required (for example, you may want to filter your contacts
list to only those living within a specific postcode) and then
click OK.
5
Click in the select column next to each contact for whom you
would like to print a mailing label.
6
Ensure you have enough mailing label sheets set up at your
printer and then click Print.
CHAPTER 16
CONTACT MANAGEMENT
Contact log
The contact log enables you to keep a detailed log of all the
phone calls you and your contacts make to each other, and any
other type of correspondence.
For example, let’s say that you call customer A regarding an
overdue invoice. You could create a log entry that records the
date of the phone call, a summary of the outcome, and the date
you will want to recontact them by if their invoice is still
outstanding.
When a customer or supplier calls, you can use the contact log to
retrieve a complete history of your business relationship with that
contact.
Note that you can also automatically create contact log entries
for each sale, purchase, payment and receipt you record. For
more information, see ‘To automatically create contact log
entries’ on page 218.
To create a contact log entry
1
Go to the Card File command centre and click Contact Log.
The View Contact Log window appears.
2
From the Name list, select the contact for whom you want to
create a log entry and click Use Card.
3
Click New. The Contact Log Entry window appears.
4
Complete the Contact Log Entry window as described in the
table below.
KEEPING IN TOUCH WITH YOUR CONTACTS
Name
The name of the contact. To view the contact’s card,
click the zoom arrow.
Contact
Enter the name of the person that is associated with
this entry. For example, you can enter the name of
the person you spoke to on the phone.
If you have specified a contact person in the
contact’s card, you can click the down-arrow to
choose that person.
Date
Enter 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, enter the time in hours and minutes. For
example, if you spend 15 minutes, enter 15. If you
spend 1 hour and 15 minutes, enter 1:15.
Recontact
Date
If you want to be reminded to follow up the contact,
enter 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 229.
Log
View all contact log entries for the selected contact.
New
Record the current log entry and to create a new
entry for this or another contact.
217
Automatic contact log entries You can choose to
automatically create log entries each time you record a sale,
purchase or banking transaction. The log entry contains basic
information about the transaction, such as the invoice number,
cheque number and the amount.
Your company file size may increase significantly If you
record many transactions and choose to automatically create log
entries for them, the size of your company file may increase
significantly. If the company file size becomes an issue, you can
purge old contact log entries and other data. For more information
about purging information, see ‘Purging information that is no
longer needed’ on page 265.
NOTE :
To view the contact log
1
Go to the Card File command centre and click Contact Log.
The View Contact Log window appears.
2
From the Name list, select the contact for whom you want to
view the contact log.
3
If you want to view or edit the detail of an existing log entry,
select the entry and click Edit, or click its zoom arrow.
More ways to keep in touch
To send an email message to a contact
To automatically create contact log entries
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the zoom arrow next to the name of the contact you
want to email. The Card Information window appears.
3
In the Location field, select the address to which you want to
send the email.
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
2
Click the Banking tab.
3
To create an automatic contact log entry for each payment
you record, select the Make Contact Log Entry for Every
Cheque option.
4
4
To create an automatic contact log entry for each receipt you
record, select the Make Contact Log Entry for Every
Deposit option.
If an email address is entered in the field, click Email. The
Email window appears.
5
The Email Address field displays the name and email address
from the card. You can change these if you wish.
5
Click the Sales tab.
6
6
To create an automatic contact log entry for each sale you
record (including quotes and orders), select the Make
Contact Log Entry for Every Sale option.
Enter a message and click Send. The email is sent to your
default email program’s outbox. Send the file from your email
program as you normally do.
7
Click the Purchases tab.
8
To create an automatic contact log entry for each purchase
you record (including quotes and orders), select the Make
Contact Log Entry for Every Purchase option.
1
Make sure your computer is connected to the Internet.
2
In the Card Information window, display the Profile view of
the contact.
Click OK to close the Preferences window.
3
If a website is listed in the Website field, click Website.
4
Your contact’s website will appear in your web browser.
9
218
1
To access a contact’s website
CHAPTER 16
CONTACT MANAGEMENT
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.
To define identifiers
1
Go to the Lists menu and choose Identifiers. The Identifiers
window provides a field for each of the 26 letters of the
alphabet.
2
Enter a description for as many identifiers as you want and
click OK.
Grouping contacts using these features makes it easier for you to:
„
filter reports to show only information specific to a group of
contacts
„
identify which of your contacts have a particular attribute
„
filter lists so that it’s easier for you to send a batch of
personalised letters, customer statements and other forms to
a group of contacts.
To assign identifiers to a card
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the zoom arrow next to the card you want to edit. The
Card Information window appears.
3
Click the Card Details tab.
4
Click Identifiers. The Select Identifiers window appears.
5
Click next to the identifiers you want to assign to the card.
6
Click OK.
Identifiers
Identifiers are one-letter labels you can assign to cards.
When you create reports or view card lists, you can limit the
information to a particular group of cards by specifying the
identifiers that you’ve assigned to those cards.
For example, say you want to be able to identify all clients who
are not-for-profit organisations. You could assign them identifier
N and when printing sales reports you can choose to filter the
report to only show 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
you can assign them the OW identifiers. You can then filter a
report to only show your overseas wholesale customers by
specifying the OW identifiers in the Report Customisation
window.
GROUPING YOUR CONTACTS
Custom lists
You can set up lists of predefined attributes and assign the
appropriate attributes to your cards.
By assigning attributes from a custom list to your cards, you are
able to group your contacts to a greater degree than is possible
with identifiers.
For example, you could assign all your wholesale customers the
W identifier. If you also set up a custom list containing each of
your sales territories, and allocate those customers to the
appropriate territory, you can then filter reports to only show
information about wholesale customers who are within a
particular sales territory.
219
To name a custom list
1
220
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.
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.
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.
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
Enter the custom list entry’s name and then click OK.
The entry appears in the Custom Lists window.
To assign a custom list entry to a card
1
Go to the Card File command centre and click Cards List.
2
Click the zoom arrow next to the card you want to edit. The
Card Information window appears.
3
Click the Card Details tab.
4
Click the search icon next to the custom list field you want to
edit and then select the entry that you want to assign to the
card.
CHAPTER 16
CONTACT MANAGEMENT
Synchronising MYOB cards with Microsoft Outlook contacts
You can synchronise 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, supplier, 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 synchronise 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).
details for existing contacts. To do this, you select from one of the
following update rules:
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 synchronise, the following details are imported or
exported: company name or contact name, address details,
email and web addresses and telephone, fax and mobile
numbers.
If you are exporting your 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 ‘Customising cards’ on page 227.
Synchronisation update rules As part of the synchronisation
process, you choose whether or not you want to update the
Software required You require Microsoft Outlook 2000
(or later), MYOB Outlook Sync and MYOB ODBC Direct v8
installed on your computer. For more information, refer to the
Getting Started guide.
CAUTION : [MYOB Accounting Plus only] Single-user access
required Synchronising cards and Outlook contacts requires
single-user access. For more information, see ‘Single-user file locking
for special tasks’ on page 268.
SYNCHRONISING MYOB CARDS WITH MICROSOFT OUTLOOK CONTACTS
221
Exporting your MYOB cards to your
Outlook contacts
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
synchronise 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 223).
CAUTION : 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
synchronising. See your Microsoft Outlook documentation for
instructions.
222
To export your MYOB cards to your Outlook contacts
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click Sync Cards. The Synchronise Cards window appears.
3
Select the card types that you want to synchronise.
You can synchronise cards from any of the Cards List
tabs (All Cards, Customer, Supplier, Employee and
Personal) The default card type selected varies according to
the tab you are on when you click Sync Cards.
NOTE :
4
Click Synchronise Cards. The Outlook Sync - Import and
Export Options window appears.
CHAPTER 16
CONTACT MANAGEMENT
5
If you want to include inactive cards in your synchronisation,
select the Allow the export of inactive MYOB cards to
Outlook option. For information about inactive cards, see ‘To
inactivate (or reactivate) a record’ on page 174.
6
Select a synchronisation rule from the Update Rules list. For
more information, see ‘Synchronisation update rules’ on
page 221.
7
If you want to save your MYOB cards to your Outlook
contacts default folder (you need to do this to synchronise
your Outlook contacts and your PDA), or if you want to
export your MYOB custom fields to your Outlook contacts,
click Settings. The Outlook Sync - Settings window appears.
8
Click Export. A Microsoft warning appears.
‘
9
Select a period for your 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
a If you want to synchronise 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.
If you selected the Update existing contacts rule or the Do
not update existing contacts rule, the Outlook Sync Export Summary window appears. Go to step 11 on
page 224.
If you selected the Ask me to confirm updates rule, the
Outlook Sync - Confirm Update to Outlook Contact
window appears.
Specify how you want to deal with each update. When you
have confirmed all updates the Outlook Sync - Export
Summary window appears.
SYNCHRONISING MYOB CARDS WITH MICROSOFT OUTLOOK CONTACTS
223
11
Review the export summary.
Added new
contacts
The number of new contacts added to your
Outlook contacts.
Updated
duplicate
contacts
The number of Outlook contacts updated to
match the details in your 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.
NOTE : Blank fields in your Outlook contacts are not included in
the import If a field in your Outlook contact is blank but the
corresponding field in your 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.
Importing from the default contacts folder If you want to
import your contacts to MYOB cards from the default Outlook
contacts folder, enter 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.
However, before you import your Outlook contacts, you need to
identify each contact as either a customer, supplier, employee or
personal contact.
224
Importing from group contacts folders You need to save
your contacts to group contact folders labelled MYOB Customer,
MYOB Supplier, MYOB Employee and MYOB Personal. For
instructions on how to set up group contact folders in your
Outlook contacts, refer to your Microsoft Outlook
documentation.
CHAPTER 16
CONTACT MANAGEMENT
Before importing your Outlook contacts Check that the
details recorded in your Outlook contacts are up to date and
entered in the correct field.
4
Click Synchronise Cards. The Outlook Sync - Import and
Export Options window appears.
To import your Outlook contacts to your MYOB cards
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click Sync Cards. The Synchronise 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
synchronising. For more information on backing up your
Company File, see ‘Backing up and restoring company files’ on
page 259.
[
5
Select a synchronisation rule from the Update Rules list. For
more information, see ‘Synchronisation update rules’ on
page 221.
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.
7
3
Click Import. A Microsoft warning appears.
Select the card types that you want to synchronise.
You can synchronise cards from any of the Cards List
tabs (All Cards, Customer, Supplier, Employee and
Personal). The default card type selected will vary according
to the tab you are on when you click Sync Cards.
NOTE :
SYNCHRONISING MYOB CARDS WITH MICROSOFT OUTLOOK CONTACTS
225
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.
The import process starts and the Blank Field Warning
window appears.
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.
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.
NOTE : 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 C:\[insert filename]folder.
Specify how you want to deal with each update. When you
have confirmed all updates the Outlook Sync - Import
Summary window appears.
10
Review the import summary.
Updated or
added cards
226
The number of cards added or updated in your
MYOB cards.
CHAPTER 16
CONTACT MANAGEMENT
Customising cards
Custom fields
If you need to record certain information about your contacts,
but can’t find a suitable card field for it, you may want to set up a
custom field.
For example, you could set up a field to record your customers’
birthdays or a field to record the date of your employees’ most
recent performance review.
You can set up three custom fields for each card type and label
them according to your needs. You can then enter any
information you like in those fields.
If you need to, you can show this information in a report by
selecting the custom fields in the Report Fields tab of the Report
Customisation window.
2
Click the zoom arrow next to the card you want to edit. The
Card Information window appears.
3
Click the Card Details tab and enter the information you
want to record in the appropriate custom field.
Card identification codes
If you have assigned identification codes (IDs) such as customer
numbers or account numbers to your customers, you can enter
those IDs in their cards.
You can also set a preference that will let you select customers by
their ID instead of their last name or company name when
entering a transaction. Customer search lists will also be sorted by
their ID when this preference is set. For more information, see ‘To
select contacts using Card IDs’ on page 228.
To set up custom fields
1
Go to the Lists menu, choose Custom List and Field Names
and then choose the card type for which you want to set up a
custom field, for example, customers. The Custom List and
Field Names window appears.
2
Enter the names of the custom fields you want to set up for
the card type you have selected in the Name of Custom Field
fields. For example, you could enter Birthday to record your
contacts’ birthdays.
3
Click OK. The names you have entered will now appear in the
Card Details tab of the Card Information window.
NOTE : The Card ID preference affects all card types If you
choose this preference, you will have to select all card types by their
IDs.
To enter an identification code
1
Go to the Card File command centre and choose Cards List.
The Cards List window appears.
2
Click the zoom arrow next to the card you want to edit. The
Card Information window appears.
3
Enter a unique code of up to 15 alphanumeric characters in
the Card ID field.
4
Press TAB or click OK to save your changes.
To enter custom field information in a card
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
CUSTOMISING CARDS
227
To select contacts using Card IDs
To link a picture
1
Go to the Setup menu and choose Preferences. The
Preferences window appears.
1
Go to the Card File command centre and click Cards List.
The Cards List window appears.
2
Click the Windows tab.
2
Open the card for which you want to link a picture.
3
Choose the Select Cards by Card ID, Not Card Name
option.
3
Click the Card Details tab and double-click the picture file
area. The Picture Information window appears.
You can now select cards by their IDs and your card lists will
be sorted by ID instead of by last name or company name.
4
Click Link. The Open window appears.
5
Locate the picture file you want to display for this card and
then click Open. The Picture Information window appears
with the selected picture on the right.
6
Click OK. The picture appears in the Card Details tab.
Card pictures
You can display a picture of your contact by linking a picture file
to their card. The picture appears in the Card Details tab of the
Card Information window.
Any pictures you link are copied to the Graphics folder, which is
located within your company file’s folder. If you move your
company file, you will need to move the Graphics folder as well.
Supported picture formats Pictures need to be saved in
one of the following formats: bmp, jpg, tif, gif, or png.
NOTE :
228
To replace a picture
If you want to replace the picture displayed in a card with
another one, double-click the displayed picture and continue
with step 5 in ‘To link a picture’ above.
To remove a picture
If you want to remove the displayed picture from the Card
Details tab, double-click the picture. In the Picture Information
window, click Unlink and then click OK. The picture will be
removed from the Card Details tab but the picture file will
remain in the Graphics folder.
CHAPTER 16
CONTACT MANAGEMENT
Reviewing your contact information
There are several tools you can use to review your contact
information.
Tool
Description
See
To Do List
The Contact Alert tab in the To Do
List displays log entries with
reminder dates on or before the
current date.
below
Card reports
Card reports give you lists of contact
information in several formats.
below
Find Transactions
Find Transactions helps you quickly
find all transactions for a contact.
page 179
To view contact alerts
1
Click To Do List in any command centre. 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 reminder
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 reminder date you specified on the contact log
entry.
To clear a reminder from the list, click in the select column
next to the contact log entry and then click Remove.
REVIEWING YOUR CONTACT INFORMATION
To print card reports
1
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
2
Click the Card tab. The list of card reports appears.
3
Display or print the report that is appropriate to your needs.
Following is a list of the default information displayed in each
report. If required, you can customise the reports to display
more or less details (for information on how to customise a
report, see ‘Customising reports’ on page 195).
Report
Description
Card List
Summary
A list of your contacts with their phone numbers,
current balances and identifiers.
Card List Detail
A list of some of the information contained in
your contacts’ cards, including Address 1 and
Address 2.
Addresses
The contact name, address and phone number
entered for Address 1 in each card.
Card
Transactions
A list of the transactions that have been allocated
to your contacts for a selected period.
Contact Log
A list of contact log entry details. The total of the
elapsed time recorded in the log entries is
displayed for each contact.
Identifiers
A list of the identifier codes and their descriptions.
GIS Card File
A list of contact information that you can import
into a geographic information system (GIS) to
analyse the location of your contacts.
Overdue
Contacts
A list of contact log entries with recontact dates
that are dated on or before the day you specify in
the report filter.
229
230
CHAPTER 16
CONTACT MANAGEMENT
FINANCIAL CONTROL
17 Financial control
You can control finances by setting budgets, auditing your records and by reviewing and analysing your financial activities.
Tracking financial information
Accounts
You can track financial information at three levels:
„
„
„
Accounts level—view the profitability and financial details of
your business as a whole.
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 the following income accounts:
Categories level—view the profitability and financial details of
your individual business divisions, departments, properties,
offices or locations.
4-0000 Income
Jobs level—view the profitability and financial details of the
individual jobs or tasks carried out for customers and clients.
4-1000 Car Sales
The following example will illustrate how accounts, categories
and jobs may be interrelated:
You could, for example, set up your MYOB software in the
following way.
[Header]
4-1010 New Car Sales
[Detail]
4-1020 Pre-owned Car Sales
[Detail]
4-2000 Service and Parts Income
A car dealer has two lines of business—car sales and a service
department. The car sales department sells both new and
pre-owned vehicles. The service department regularly takes on
multiple jobs for particular customers.
[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.
231
Setting up accounts You can set up your accounts using the
Easy Setup Assistant or in the Accounts command centre. For
more information, see ‘Set up accounts’ on page 24.
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.
NOTE : You cannot allocate categories to certain transactions
There are certain transactions to which you cannot allocate a
category. These are: Pay Suppliers, Receive Payments, Prepare
Bank Deposit, Settle Returns and Credits/Debits and
Pay/Receive Refunds. When entering these transactions, the
categories assigned to the original transactions will be used. For
example, the categories assigned to purchases appearing in the Pay
Suppliers window will also be assigned to the payment.
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 list.
Categories can be allocated to the following transaction types:
232
„
spend money
„
receive money
„
transfer money
„
nominal journal entries
„
sales
„
purchases
„
build items
„
stock transfers
„
stock adjustments
„
paycheques [MYOB Accounting Plus only]
„
historical sales and purchases.
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.
To create a category
1
Go to the Lists menu and choose Categories. The
Categories List window appears.
2
Click New. The Edit Category window appears.
3
In the Category ID field, type a code that will be used to
identify the category and press TAB.
4
In the Category Name field, type the name of the category.
CHAPTER 17
FINANCIAL CONTROL
5
In the Description field, type a description of the category or
notes relating to the category.
„
organising jobs in a hierarchy
„
setting budgets for each job
„
linking jobs to specific customers
„
assigning jobs to individual line items on transactions
„
tracking reimbursable expenses for your jobs
„
preparing invoices to reimburse job expenses
„
analysing profit and loss of a job.
There are two types of jobs, header and detail.
6
„
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.
Click OK.
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.
Setting up jobs and sub-jobs You can keep a detailed record
of your jobs and sub-jobs. If you intend to use sub-jobs, you will
first need to create jobs, to which you can later assign sub-jobs.
If you intend to use sub-jobs, you first need to create header jobs
and then assign sub-jobs to them. Note that sub-jobs can be
either a detail or header type job.
To create a header job
1
Go to the Lists menu and choose Jobs. The Jobs List window
appears.
2
Click New. The New Job window appears.
3
Select Header Job and enter a job number, name and
description.
4
If you want to create this job as a sub-job of another header
job, type or make a selection from the Sub-job Of field.
5
Click OK. The header job appears in the Jobs List window.
To create a detail 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 Detail Job.
Specific job-tracking tasks may include:
TRACKING FINANCIAL INFORMATION
233
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
7
If you are creating a sub-job, select a header job in the
Sub-job Of list. Note that you can only assign detail jobs to
header jobs, not to other detail jobs.
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.
234
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.
To enter opening balances for jobs
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.
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 for which you
want to enter an opening balance.
3
In the Opening Balances column, type the opening balances
for each account.
4
Repeat step 2 and step 3 for each job with an opening
balance.
5
Click OK when you have finished.
CHAPTER 17
FINANCIAL CONTROL
To enter budget amounts for jobs
You can enter budgets for detail jobs. The budget information
you enter for each job is used to help you assess your progress on
a particular job and to determine the job’s effect on the state of
your business. The amounts you enter will be recorded against
accounts in your accounts list for comparison purposes. Once
you begin recording transactions for the job, you will be able to
print the Jobs Budget Analysis report to see a comparison
between the actual amounts and the amounts you have
budgeted for the job.
1
Go to the Lists menu and choose Jobs. The Jobs List window
appears.
2
Select the detail job for which you want to enter budgets.
3
Click Budgets. The Job Budgets by Account window
appears, with the number of the job you selected in the Job
Number field.
All your company’s income, cost of sales, expense, other
income and other expense accounts appear in the scrolling
list.
4
In the Budgets column, type the amounts you’ve budgeted
for specific accounts for this job and then click OK.
Tracking reimbursable expenses
You can track the expenses you incur while working on a job and
then invoice the customer to get reimbursed for those expenses.
Then, when you enter a sale for Edgar Reuss, you can view a list of
the reimbursable expenses and add them to his invoice.
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
page 236
Add the reimbursable expenses to the
invoice when billing the customer
page 236
3
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.
Step 1: Set up a job
1
Create a detail job (see page 233) or open an existing detail
job record. The New Job or Job Information window will
appear.
2
Select the Track Reimbursables option.
3
In the Linked Customer field, Type or select the name of the
customer who will be billed for this job.
If this job is related to a header job, the linked customer for
the header job will appear automatically.
4
Click OK.
When you enter the expenses using the Spend Money window,
assign the line items to job 01. The line items are then
automatically marked for reimbursement by Edgar Reuss.
TRACKING REIMBURSABLE EXPENSES
235
Step 2: Assign expenses to the job
1
Enter the expense in a transaction window. For example,
enter it in the:
„ Spend Money window.
„ Purchases window. Note that items you track in your stock
cannot be reimbursed.
„ Pay Employee window. Note that only items linked to
expense or cost of sales accounts can be reimbursed.
2
In the Job column, select the job you want to assign the
expense to.
3
Complete the transaction as you normally would.
4
Continue with Step 3: Bill the customer.
Step 3: Bill the customer
1
Go to the Sales command centre 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.
4
Click in the select column for each expense you want to bill.
5
If you want to change the amounts that will be billed, you can
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 Help and select Help for This
Window.
TIP :
6
236
on an item invoice), select the appropriate item, account or
activity that you want to use for these expenses in the
Reimbursement [...] field.
If a selected expense does not match the invoice layout, (for
example, you want to be reimbursed for a non-item expense
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.
All selected expenses that do not match the invoice
layout will be allocated to the default item, account or
activity If you want to be reimbursed for several expenses that
relate to different income accounts, items or activities, you can
change the details on the invoice later.
NOTE :
7
Click Reimburse. The selected expenses are now listed in the
line item area of the Sales window.
NOTE : 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.
8
Make any other changes to the invoice, and then click
Record.
Changing the status of a reimbursable
expense
To change the status of a reimbursable expense
1
Go to the Lists menu and select Jobs. The Jobs List window
appears.
2
Select the job for which you want to edit an expense and click
Edit. The Edit Job window appears.
CHAPTER 17
FINANCIAL CONTROL
3
4
5
Click Reimburse. The Job Reimbursable Expenses window
appears.
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.
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 : Changing a status does not affect the transaction If you
change the status of a reimbursable expense, the original transaction on
which you recorded the expense 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.
Budgets
When you prepare a budget, you are predicting the financial
state of your business. For example, you could prepare a budget
that predicts how much you intend to spend and earn over the
next financial year. Having a budget means that, as the year
progresses, you can track projected data against actual data and
take corrective action if things are not going according to plan.
You can also use budgets to plan for future goals. For example,
you may want to undertake a new business venture in the
coming year. By creating a budget, you can work out the amount
of money you will need for the venture, where this money will
come from, and the impact that the venture will have on other
aspects of your business.
What do I need to budget? 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
BUDGETS
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 financial year and the next
financial year.
Reviewing your budget You can review your budgets
periodically to track your financial progress and see if it is going
to plan. A slight variation from the budget is normal. Large
variations, on the other hand, may need investigation. For
example, if you have a large increase in debtors, 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
237
Sheet and Profit and Loss accounts. For information on
displaying, customising and printing reports, see Chapter 14,
’Reports,’ starting on page 191.
Entering budget amounts
You can use the Prepare Budgets window to enter budget
amounts for each month of the current or next financial year. If
you want to quickly enter budget amounts for a group of
months, you can use the Budget Shortcuts window.
4
From the Account Type list, choose the type of account you
want to enter a budget for—Profit and Loss or Balance
Sheet.
5
For each month, click in the appropriate cell and enter the
amount. If you want to enter a negative amount, use a minus
sign before the figure (for example, -250).
As you enter data, the FY Total column will display the total
budget for each account.
B
A
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 using a minus sign before
the amount (for example, -250). When you enter a negative
amount, you are indicating that the balance of the account is
going to decrease.
Using existing data If you have already prepared a budget in a
spreadsheet or in other software, you may be able to import that
information into your MYOB software. For more information on
how to import account budgets, see ‘Importing data’ on
page 272.
You can also use the previous financial year’s data as a basis for
your budget.
C
Go to the Accounts command centre and click Accounts
List. The Accounts List window appears.
2
Click Budgets. The Prepare Budgets window appears.
The window lists the Profit and Loss accounts by default.
3
238
E
A
The Account Name and FY Total columns display the list of
accounts and their current budget totals for the financial year.
B
You can enter the budget amount for a specific account and
month in this section. 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
highlighted account.
For more details on this feature, see ‘Budget Shortcuts window’
below.
To enter the budget for an account
1
D
From the Financial Year list, choose whether you want to
enter a budget for this financial year or the next one.
CHAPTER 17
FINANCIAL CONTROL
6
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.
„
„
Click Close to close 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 Budget Shortcuts
1
Go to the Accounts command centre and click Accounts
List. The Accounts List window appears.
2
Click Budgets. The Prepare Budgets window appears.
3
Select the account you want to enter the budget for and click
Shortcuts. The Budget Shortcuts window appears.
4
From the Budget for list, select the time period you want to
enter a budget for.
Select a time
period
To enter the same amount for every month of the year or a
set increase or decrease every month (starting from a base
amount), select Each Month.
To enter a total amount for a group of consecutive months,
select Period starting from selected Month.
To enter the total amount for each quarter, select Each
Quarter.
To enter the total amount for each half of the year, select
Each half of the Financial Year.
To enter the total amount for the entire financial year,
select Financial Year yyyy (where yyyy is your financial
year).
The fields in the window change according to the period you
select.
5
Enter the budget amounts in the appropriate fields. Amounts
that cover more than one month (such as quarterly,
half-yearly and yearly amounts, and amounts for a group of
months) will be divided equally among all the months in the
group.
If you selected the Each Month option, you can also set a
base budget amount for the first month, and the amount or
percentage by which this will increase or decrease for each
subsequent month.
6
When you have finished entering the information, click OK.
The Prepare Budgets window appears with the new
amounts entered in the fields.
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.
BUDGETS
239
Auditing your records
A range of features is available to help you ensure the accuracy of
the records in your company file. These features are outlined
below.
Change type
Description
Transactional
•
•
•
•
•
•
•
•
deletion of transaction
change of card selection
change of ID No.
change of date
change of amount on any line
change of account on any line
change of item selection
change of job selection.
VAT
•
deselection of VAT on any line of a sales or
purchase transaction
change of VAT code for a sales or purchase
transaction
change of VAT amount for a sales or purchase
transaction
adding transactions with a VAT 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 VAT Code Information windows.
Company Data Auditor
The Company Data Auditor allows you to check the accuracy of
the records in your company file. You can use the auditor to
perform maintenance tasks and reconcile bank and credit card
accounts.
The auditor also checks your transactions for exceptions such as
invoices that do not reconcile with your debtors account,
future-dated transactions, and audit trail changes. For more
information on how to use the Company Data Auditor, see ‘Run
the Company Data Auditor’ on page 244.
•
•
•
Audit trail tracking system
You can track specific transactional, VAT, account, payroll [MYOB
Accounting Plus only] and system changes made to your
company file using an audit trail tracking system. You can then
print an Audit Trail report which lists all the changes recorded in
a specified date range.
To track changes, go to the Setup menu, choose Preferences
and then set the Use Audit Trail Tracking preference in the
Security tab.
•
•
Account
•
•
•
•
change of the current account number
change of the account’s opening balance
addition of a new account
deletion of an account.
The changes that are recorded are outlined below.
240
CHAPTER 17
FINANCIAL CONTROL
Change type
Description
Change type
Description
Payroll
[MYOB
Accounting
Plus only]
Changes to the setup of an employee’s card,
including:
• change of pay basis, pay rate or pay frequency
• change of default wages expense account
• change of ‘Carry Over’ entitlements
• change of pay history
• change of employee’s tax code
Changes to the setup of a payroll category,
including:
• changes to wage, entitlement, deduction or
expense type
• changes to deduction or expense limits.
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.
Reviewing financial information
There are several tools that you can use to review your financial
information:
Tool
Description
See
Analyse
Balance Sheet
The Analyse Balance Sheet window
provides details about your asset,
liability and capital accounts in both
graphical and ledger views.
below
Analyse Profit
& Loss
The Analyse Profit & Loss window
provides detailed information about
your Profit & Loss accounts in both
graphical and ledger views.
below
REVIEWING FINANCIAL INFORMATION
Tool
Description
See
Analyse Jobs
The Analyse 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.
below
To analyse your balance sheet
1
Go to the Accounts command centre and click Analysis. The
Analyse Balance Sheet window appears.
2
Click Filters and choose the time periods and other criteria
you want to view.
3
Click OK. The information you selected appears in the
Analyse Balance Sheet window.
241
To analyse your profit or loss
1
From any command centre, click the Analysis down arrow
and select Profit and Loss from the menu. The Analyse
Profit & Loss window appears.
2
Click Filters and choose the time periods and other criteria
you want to view.
3
Click OK. The information you selected appears in the
Analyse Profit & Loss window.
Report
Description
Profit & Loss
Statement
Shows your profit and loss figures.
Balance Sheet
Reviews your financial position as at 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.
Balance Sheet
Budget Analysis
Lists account balances as at 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.
To analyse your jobs
1
From any command centre, click the Analysis down arrow
and select Jobs. The Analyse Jobs window appears.
2
In the Job Number field, type or select the job you want to
analyse.
3
If you use budgets to track the progress of this job, enter a
value in the Percent Complete field. The budget amounts
are adjusted to represent the percentage of the job
completed.
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.
There are several account reports that can help you track your
financial information. These reports are listed below.
242
Report
Description
Audit Trail
Reviews changes made to recorded
transactions, VAT 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 240.
For information on displaying, customising and printing
reports, see Chapter 14, ’Reports,’ starting on page 191.
CHAPTER 17
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 your bank statement, creditors balances can be checked against statements, and
customers’ balances verified. Typical end-of-month procedures include reviewing your trial balance, reviewing your budgets and cash flow,
paying payroll taxes (MYOB Accounting Plus only) and purging information that is no longer needed.
End-of-year procedures need to be carried out to prepare your company file for the coming year. These include any
adjustments you need to make to your company file so that it agrees with your accountant’s final records before you start a new year. If possible,
your stock 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
[MYOB Accounting Plus only] Closing a payroll year includes processing final paycheques, printing payroll reports and
preparing payroll forms. You must close the payroll year in the last month of your payroll year or soon after. Otherwise, you will not be able to
enter paycheques for the next payroll year.
End of payroll year
243
END-OF-PERIOD PROCEDURES
18 End-of-period procedures
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
See
1
Run the Company Data Auditor
below
2
Review reports
page 248
3
Send customer statements
page 249
4
Record depreciation
page 250
5
Lodge VAT returns
page 250
6
Pay PAYE and NIC that is due
page 250
7
Lock periods
page 251
„
reconcile your bank and credit card accounts
„
check your transactions for exceptions and audit trail
changes.
1
Go to the Accounts command centre and click Company
Data Auditor. The Company File Overview window
appears.
Task 1: Run the Company Data Auditor
The Company Data Auditor is a series of windows that guides you
through the process of checking and ensuring the accuracy of
the records in your MYOB company file. You can use the auditor
to:
244
„
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
This window shows you:
„ 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 financial year
„ the date defining the locked period, if one has been
specified
„ [MYOB Accounting Plus only] the date of the payroll tax
tables.
CHAPTER 18
END-OF-PERIOD PROCEDURES
If necessary, you can perform the following maintenance
tasks from this window:
2
Task
Action
See:
Back up your
company file
Click Backup and complete
the backup procedure.
page 259
Check your
company file for
errors
Click Verify and complete
the verification procedure.
page 264
Set the locked
periods for your
company file
Click Lock Periods and select
the date before which data
cannot be entered.
page 251
Load payroll tax
tables
[MYOB Accounting Plus only]
Click Load Tax Tables and
then follow the on-screen
instructions for loading tax
tables.
When you have completed the required maintenance tasks,
click Next. The Account Reconciliation Review window
appears.
This window shows you:
„ your bank and credit card accounts
„ the balance of each account
„ the date on which each account was last reconciled.
MONTH-END PROCEDURES
3
If you want to reconcile an account, select the account and
click Reconcile Accounts. For more information on how to
reconcile a bank account, see ‘Review reports’ on page 248.
4
When you have finished viewing and, if necessary, reconciling
your accounts, click Next. The Transaction Review window
appears.
5
Enter the start date and end date of the period you want to
review.
6
Click Run Review to start the transaction review of the
following:
Reconcile
invoices with the
linked debtors
account
The total of all customer balances is
compared to the current balance of the
linked accounts debtor account.
If there is an out-of-balance amount, click
Display to view the Debtors Reconciliation
Exceptions report and review, customise or
print the details of the report.
Reconcile
purchases with
the linked
creditors account
The total of all supplier balances is compared
to the current balance of the linked accounts
creditor account.
If there is an out-of-balance amount, click
Display to view the Creditors Reconciliation
Exceptions report and review, customise or
print the details of the report.
245
Compare item
values with the
linked stock
account
The total value of stock on hand is compared
to the current balance of the linked stock
account.
If there is an out-of-balance amount, click
Display to view the Stock Value Exceptions
report and review, customise or print the
details of the report.
Scan for
future-dated
transactions
The company file is checked for any
transactions dated after the date shown in
the End Date field of the Transaction Review
window. If you did not change the date in
this field, the current system date is the
default end date.
If there are transactions dated after the end
date, click Display to view the Future Dated
Transactions report and review, customise or
print the details of the report.
Scan for prepaid
transactions
Scan for deposits
paid
246
The company file is checked for any prepaid
transactions. These transactions include all
customer and supplier payments (excluding
deposit payments) that have a payment date
prior to the date of the invoice or purchase.
If there are payments made prior to the
invoice or purchase date, click Display to
view the Prepaid Transactions report and
review, customise or print the details of the
report.
Review audit trail
changes
If you have selected the Use Audit Trail
Tracking [System-wide] option in the
Preferences window (Security tab), the
company file is checked for any transactional,
VAT, accounts, payroll [MYOB Accounting
Plus only] and system changes.
If any changes occurred within the date
range specified, click Display to view the
Audit Trail report and review, customise or
print the details of the report. For more
information on audit trail tracking, see ‘Audit
trail tracking system’ on page 240.
Check for job
exceptions [Cash
Transactions]
If you have selected the Warn if Jobs Are Not
Assigned to All Transactions [System-wide]
option in the Preferences window (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, customise 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 [System-wide]
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, customise or print the details of
the report.
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,
customise or print the details of the report.
CHAPTER 18
END-OF-PERIOD PROCEDURES
Reconcile payroll
liability
payments
[MYOB
Accounting Plus
only]
7
8
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, customise or print the details of
the report.
9
Click Run Review to do the following:
Check for VAT
amount variances
[Sales]
The company file is checked for variances
between the VAT amount posted and the
VAT amount calculated for the VAT codes
assigned to sales transactions. If a variance is
found, click Display to view the VAT
Amount Variation report and review,
customise or print the details of the report.
Check for VAT
amount variances
[Purchases]
The company file is checked for variances
between the VAT amount posted and the
VAT amount calculated for the VAT codes
assigned to purchase transactions. If a
variance is found, click Display to view the
VAT Amount Variation report and review,
customise or print the details of the report.
Check for VAT
exceptions
[Invoice
Transactions]
The company file is checked for sale and
purchases transactions without a VAT code
assigned or where the entered VAT code is
different to the default VAT code. If such a
transaction is found, click Display to view
the VAT Exemptions [Invoice
Transactions] report and analyse the details
of the report.
Check for VAT
exceptions [Cash
Transactions]
The company file is checked for Spend
Money and Receive Money transactions
without a VAT code assigned or where the
entered VAT code is different to the default
VAT code. If such a transaction is found, click
Display to view the VAT Exemptions [Cash
Transactions] report and analyse the details
of the report.
Reconcile VAT
code details with
linked accounts
The company file is checked for variances
between the balance of the linked VAT
accounts and the amount of VAT that has
been collected and paid on transactions. If
variances are found, click Display to view
the VAT Code Reconciliation Exceptions
report and analyse the details of the report.
When you have finished viewing and, if necessary, printing
the Transaction Review reports, click Next. The VAT
Exception Review window appears.
Enter the start date and end date of the period you want to
review.
MONTH-END PROCEDURES
247
10
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.
Report
Description
Summary Trial
Balance
Identifies incorrectly entered amounts. When
reviewing this report, check for:
• entries that seem unusually large or small
for the account that has been affected
• debit amounts for accounts that normally
have credit entries and vice versa
• unusually high or low ending balances
• an unusually high or low number of entries
for a specific account.
Balance Sheet
Budget Analysis
Lists account balances as at the end of a
selected 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 ‘Analysing
your cash flow’ on page 58.
Task 2: 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.
These reports are listed below.
248
Report
Description
Debtors
Reconciliation
Lists all your outstanding receivables.
Creditors
Reconciliation
Lists all your outstanding payables.
Analyse Sales
Customer
Lists your company’s sales activity and trends
on a month-by-month basis.
Analyse Purchases
Supplier
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, VAT 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 240.
Profit & Loss
Statement
Shows your profit and loss figures.
Balance Sheet
Reviews your financial position as of the end of
a period.
NOTE : Create a report batch You may find it useful to create a
report batch for your month-end reports and print them all in one
go. For more information, see ‘Printing report batches’ on
page 193.
CHAPTER 18
END-OF-PERIOD PROCEDURES
Task 3: Send customer statements
Most businesses send statements to customers who have
outstanding balances at the end of each month. You can either
print out and send these statements through the mail or send
them via email.
To email a customer statement
1
Go to the Sales command centre and click Print/Email
Statements. The Review Statements Before Delivery
window appears.
2
Click the To Be Emailed tab.
3
In the Statement Type field, select the type of statement you
want to email.
„ Invoice statements lists all open invoices up to and
including the date you specify.
„ Activity statements lists all sales invoices, payments, and
orders with a customer deposit for a period of time. Activity
statements include a running account balance.
4
Specify the statement period to be included.
„ If you selected Invoice as the statement type, enter a date
to include invoice statements outstanding on that date.
„ If you selected Activity as the statement type, enter the
statement period in the From and to fields.
5
Mark the select column ( ) next to next to the name of each
customer you want to email statements to.
6
If you want to change a customer’s email address, highlight
their name and select an address from the Email Address list
( ). Alternatively, type the email 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.
8
Click Advanced Filters to filter and customise the
information to be displayed in the customer statement. See
‘Advanced filters’ on page 205 for more information.
9
Click Send Email.
To print a customer statement
1
Go to the Sales command centre and click Print/Email
Statements. The Review Statements Before Delivery
window appears.
2
Click the To Be Printed tab.
3
In the Statement Type field, select the type of statement you
want to print.
„ Invoice statements lists all open invoices up to and
including the date you specify.
„ Activity statements lists all sales invoices, payments, and
orders with a customer deposit for the period of time you
specify. Activity statements include a running account
balance.
4
Specify the statement period to be printed:
„ If you selected Invoice as the statement type, enter a date
to include invoice statements outstanding on that date.
„ If you selected Activity as the statement type, enter the
statement period in the From and to fields.
5
Type the number of statements you want to print per
customer in the Print field.
6
Click Advanced Filters to filter and customise the
information to be displayed in the customer statement. See
‘Advanced filters’ on page 205 for more information.
7
Mark the select column ( ) next to the name of each
customer you want to print statements for.
8
Click Print.
MONTH-END PROCEDURES
249
Task 4: Record depreciation
that the header account shows the current book value of the
vehicles.
If you depreciate your assets at the end of the financial
year, make this step a part of your end-of-year routine. Consult your
tax adviser or accountant for information on when to depreciate
your assets.
NOTE :
Your company’s vehicles and equipment lose value each year.
Part of the cost of vehicles and equipment can be allocated as an
expense to your company each year you benefit from their use.
The allocation of the cost of a piece of equipment over its useful
life is called depreciation.
There are several methods of depreciation. Consult your
accountant to see whether you should be depreciating vehicles
and equipment and, if you should, which method is best for you.
Your MYOB software doesn’t calculate depreciation
automatically, but you can record your depreciation figures
quickly with a journal entry.
To record depreciation
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 ‘Setting up
accounts’ on page 25.
In the following example, we have a header account, Vehicles,
numbered 1-1500, and a detail account, Vehicles Original
Cost, numbered 1-1510. We have created a new asset
account called Vehicles Accum Dep, numbered 1-1520. Notice
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 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 5: Lodge VAT returns
Many businesses are required by the government to submit
monthly VAT returns. To determine the amounts you need to
include on your VAT returns, you need to produce the VAT
reports that are available in your MYOB software. To view a list of
the VAT reports, click the VAT tab in the Index to Reports
window. For more information about producing VAT reports, see
‘Accrual and cash reporting’ on page 165.
Task 6: Pay PAYE and NIC that is due
[MYOB Accounting Plus only]
Payments of PAYE and NIC amounts due for each tax month must
be paid to the HMRC Accounts Office within 14 days of the end
of that tax month. Given that tax months end on the 5th, you
must pay that amount by the 19th of the month.
To determine the amount you owe the HMRC, you should
produce the Employer’s Payment Record P32 report.
250
CHAPTER 18
END-OF-PERIOD PROCEDURES
Once you have determined the amount payable, you can record
a payment in the Pay Liabilities window. For more information,
see ‘Payroll liabilities’ on page 119.
To view the Employer’s Payment Record P32 report
Go to the Reports menu and choose Index to Reports. The
Index to Reports window appears.
1
2
Click the Payroll tab.
3
Select the Employer’s Payment Record P32 report and click
Customise. The Report Customisation window appears.
4
Select the required tax period from the Tax Period list.
5
Click Display.
Task 7: Lock periods
After you have completed your month-end tasks, you should
specify the period you want to lock 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 Up to and
Including option and choose the relevant date from the list.
This selection places a temporary lock on the period up to
and including that date. If you need to make an entry in a
locked period—for example, your locked date is 31st of May,
and you want to make an entry in April—you can change
your selection in the Preferences window to unlock that
period.
Starting a new financial year
With MYOB software you don’t need to close your financial year
at any particular time. You can continue to use your company file
for up to twelve months after the last month of your current
financial year. MYOB software allows you to track information
from previous, current and next financial years.
Complete the tasks listed below to close your financial year and
start a new one.
Task
See
1
Complete month-end tasks
below
2
Perform a stocktake
page 252
3
Provide information to your accountant
page 252
STARTING A NEW FINANCIAL YEAR
Task
See
4
Enter end-of-year adjustments
page 253
5
Back up your company file
page 253
6
Start a new financial year
page 254
7
Optimise and verify your company file
page 256
Task 1: Complete month-end tasks
Make sure you complete each of the month-end tasks. See
‘Month-end procedures’ on page 244.
251
Task 2: Perform a stocktake
If you track stock quantities and values, you should perform a
stocktake count when all transactions affecting stock for the
financial year have been entered.
To export information to accountants
1
Go to the File menu and choose AccountantLink and then
Send to Accountant. The Reporting Period window
appears.
2
If your accountant wants you to include journal entries in the
export, select the Include Journal Entries in Export File
option.
3
In the Dated to end of field, select the month up to and
including which you want to export transactions.
4
Choose the method you want to use to send the information.
„ Email—If you want to email the file, select your
accountant’s name in the Email to field and then click
email. The email address entered on the accountant’s card
will be used when the email is created in your email
program. The default name for the export file is
companyfilename.MYE.
„ Disk—If you want to save the file to disk and send it by
post, click Disk. Enter a name and location for the export
file in the window that appears. The default name for the
export file is companyfilename.MYE. You can change the file
name if you want but you must retain the ‘.MYE’ extension.
Click Save.
To perform a stocktake
1
Go to the Stock Control command centre and click Count
Stock. The Count Stock window appears. Click Print to print
the Stock Count Sheet report.
2
Count the stock on hand and record the quantities on the
Stock Count Sheet.
3
Make the necessary adjustments in the Count Stock window
so that the stock quantities shown in your company file
match your counted items on hand. See ‘Count stock’ on
page 146 for more information.
Task 3: Provide information to your
accountant
Once you have completed your year-end tasks, you can send
your accounting data to your accountant.
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 accountants to examine and
analyse their clients’ records. After examining these records,
accountants may make adjustments to the records that need to
be entered into MYOB software.
If your accountant requests an electronic copy of your
accounting records, you can export your accounts list, account
balance and journal entries and send this file by email or by post.
You accountant can then examine your records and, if required,
send you a file to import that contains adjusting journal
transactions (see ‘To import nominal journals from your
accountant’ on page 253).
252
CHAPTER 18
END-OF-PERIOD PROCEDURES
Task 4: Enter end-of-year adjustments
a Type the account number (or name), or select it from the
Your accountant is likely to provide you with a number of
adjustments, such as journal transactions. If they have been
provided electronically or on disk, you can import these
transactions (see ‘Importing data’ on page 272). If the
adjustments have been provided on paper, you can manually
enter them in the Record Journal Entry window.
b
If you send information to your accountant using the
AccountantLink feature (see ‘To export information to
accountants’ on page 252), you can import the adjusting
journals your accountant sends you. For more information, see
‘To import nominal journals from your accountant’ below. Make
sure your accountant has sent you the journal adjustment file as a
text file with a file with a .txt extension.
e
c
d
Journal entry must be balanced The journal entry
cannot be recorded until the Out of Balance field is zero.
NOTE :
4
To record adjustments manually
If your company file is set to 13 accounting periods in the
financial year, assign your adjustments to the 13th period by
entering an asterisk (*) before the date, for example, *30/9/2004.
1
2
account list.
In the Debit and Credit fields, enter the debit or credit
amount for the line item.
[Optional] In the Job field, enter the job number for the
line item.
[Optional] In the Memo field, enter a description of the
line item.
If necessary, change the default VAT code for the account
by typing the required VAT code or selecting it from the
list.
Click Record to record the journal entry.
To import nominal journals from your accountant
1
Go to the File menu, choose AccountantLink, then Receive
from Accountant. The Open window appears.
Go to the Accounts command centre and click Record
Journal Entry. The Record Journal Entry window appears.
2
Locate and select the file containing the nominal journals sent
by your accountant.
The nominal journal number and transaction date appear by
default. You can change these if necessary.
3
Click Open. The accounts are imported and a message
appears, giving you the results of the import. If there are any
errors, read the information in the MYOBLOG file (MYOB
Accounting) or MYOBPLOG file (MYOB Accounting Plus)
which can be found in the same folder as your company file
resides.
[Optional] Enter a comment in the Memo field, to describe
the journal entry, for example, Depreciation–Motor Vehicles.
Task 5: Back up your company file
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.
3
For each line item:
STARTING A NEW FINANCIAL YEAR
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 259. Make sure you
verify the company file as part of the backup process. See
‘Checking your company file for errors’ on page 264.
253
Task 6: Start a new financial year
according to your selections in the Start a New Financial
Year assistant.
Before starting a new financial year, make sure you have:
To start a new financial year
„
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 the company file for the current year.
If you have done all of the above, you are now ready to start a
new financial year.
NOTE : [MYOB Accounting Plus only] 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 268.
1
Go to the File menu and choose Start a New Year and then
Start a New Financial Year. The Start a New Financial Year
window appears.
Follow the instructions that appear. If you need help, click
Help and then choose Help for This Window.
When you start a new financial year:
„
The previous financial year’s monthly totals for all accounts
are changed to ‘last year’ categories. If ‘last year’ amounts
already existed, those amounts will be replaced.
2
„
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.
Task 7: Optimise and verify your
company file
Closed sales, closed purchases and journal entries assigned to
closed sales and closed purchases are kept or purged
„
Once the Start a New Year procedure is complete, we
recommend that you optimise and verify your company file.
For more information, see ‘Optimising your company file’ on
page 265.
Starting a new payroll year
Payroll is only available in MYOB Accounting Plus
Task
See
Complete the tasks below to start a new payroll year.
Task
254
3
Prepare and submit payroll tax forms
page 255
See
4
Back up your company file
page 255
1
Process the last paycheques for the year
page 255
5
Start a new payroll year
page 256
2
Print payroll reports
page 255
6
Optimise and verify your company file
page 256
CHAPTER 18
END-OF-PERIOD PROCEDURES
Task 1: Process the last paycheques for
the year
You must make sure that all paycheques for the payroll year you
are about to close have been entered. For more information, see
‘Processing your payroll’ on page 110.
Task 2: Print payroll reports
„
Payroll Register Summary—shows the pay history of your
employees.
„
Payroll Activity Summary—shows the paycheque amounts
recorded. These are paycheques that have been recorded but
do not include any manual adjustments made in the Payroll
Details tab of the Card Information window (in the
employee’s card).
use the assistant to prepare and submit an amended form. These
amended forms must be prepared before you start the next
payroll year in your company file.
To prepare a payroll tax form
Follow the steps below to prepare your payroll tax form—or an
amended tax form if the original details were incorrect.
NOTE : Submitting amended forms You can only submit
amended forms using the End of Year Tax Forms Assistant window
if you used the window to submit your original forms.
1
Go to the Payroll command centre and click Prepare Payroll
Tax Forms to start the End of Year Tax Forms Assistant.
2
In the first window of the End of Year Tax Forms Assistant,
choose your preferred method of lodgment by clicking
either:
„ I want to prepare my P35 and P14/P60 forms for e-file
using my MYOB software
„ I want to prepare my P35 and P14/P60 manually and
submit them via post.
3
In the remaining windows of the End of Year Tax Forms
Assistant, complete either:
„ your original tax form details
„ the amended tax form details—only enter the P35 and
P14/P60 information that has changed since submitting
the original form.
Review these reports to find potential issues or concerns. Look for
figures that seem out of the ordinary or unexpected.
Task 3: Prepare and submit payroll tax
forms
You can use the MYOB Accounting End of Year Tax Forms
Assistant window to prepare P35 and P14/P60 payroll tax forms
for your employees. You can e-file these forms using HM Revenue
& Customs’ PAYE Online for Employers service, or submit them
by post.
Before you can e-file P14 and P35 forms, you need to register for
the HM Revenue & Customs’ PAYE Online for Employers service.
To ensure you meet the filing deadline, you need to start the
registration process at least seven days prior to the deadline.
For more information on e-filing or to start the registration
process, go to gateway.gov.uk/.
If you need to change payroll information you’ve prepared and
submitted using the End of Year Tax Forms Assistant, you can
STARTING A NEW PAYROLL YEAR
For more information about the End of Year Tax Forms
Assistant, press F1 in any page of the assistant to open MYOB
Help.
Task 4: Back up your company file
Before you start a new payroll year, make sure you make a backup
of your company file. Once the previous year is closed, detailed
payroll information is no longer available and P11, P14 and P35
255
forms and other reports cannot be printed for that year. If you’ve
made a backup, however, you can restore that backup and print
the necessary documents.
For more information, see ‘Backing up and restoring company
files’ on page 259.
Task 5: Start a new payroll year
[MYOB Accounting Plus only] 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 268.
NOTE :
256
1
Go to the File menu, choose Start a New Year and then Start
a New Payroll Year.
2
If you haven’t already created a backup file before purging
the information, click Backup and follow the instructions in
the windows that appear.
3
Click Continue. Follow the instructions, which will prompt
you step by step through the process.
Starting a new payroll year will:
„ clear the payroll history from the employee cards for the
previous year
„ prevent you from printing payroll reports for the previous
year
„ clear any entitlement balances that do not have the Carry
Remaining Leave Over to Next Year preference set in the
Entitlement Payroll Category window
„ prevent you from editing or deleting paycheques for the
previous year.
Check for tax table update (requires Internet access) To
ensure you have the correct tax tables for the new payroll year,
go to the Help menu and choose Check for Product Updates.
Task 6: Optimise and verify your
company file
Once the Start a New Payroll Year procedure is complete, we
recommend that you optimise your company file. See
‘Optimising your company file’ on page 265.
CHAPTER 18
END-OF-PERIOD PROCEDURES
company files
Your company’s business information is kept in a single file called a company file. This includes your accounts list, details about your customers
and suppliers, your list of items and all your transactions. To open the company file, you need to log in with a user ID and password.
This chapter explains how you can perform maintenance tasks on your company file (including backing up, restoring and optimising) and how
you can control access to your company file using user accounts.
Managing user accounts
If several people enter transactions into the same company file,
you can control which command centres, windows and
transactions they can access with user accounts. The ability to
limit users’ access can help to minimise fraud: for example, you
can prevent a person who places orders with suppliers from also
being able to pay suppliers, minimising the likelihood of paying
false purchases.
Restrict 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 on reports. You can select
broad restrictions, such as disallowing access to the employee card
file, or you can set specific restrictions, such as viewing employee
banking details. If you want to prevent a user from editing and
viewing all payroll details, you need to restrict access to payroll
reports as well as to employee card information and payroll
command centre functions.
TIP :
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, MYOB software labels it
with the user ID. This allows you to keep track of who entered
particular transactions, which is useful when following up
disputes with suppliers or customers and pinpointing fraudulent
transactions.
Administrator account The Administrator account is a default
user account always present in all company files and cannot be
deleted. This special user account is the only one with access to
all command centres, functions and windows.
The person logged on as Administrator is able to create, edit and
delete ordinary user accounts. For that reason, as soon as you
257
MANAGING USER ACCOUNTS AND COMPANY FILES
19 Managing user accounts and
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 30.
6
Click New to open the New User Details window.
7
Type the user’s name in the User ID field, then type the
password in the Password and Confirm Password fields.
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.
10
Click the new user account in the User ID column, then click
in the Not Allowed column next to those command centres
or functions to be denied to the user.
11
Click OK.
[MYOB Accounting Plus only] Simultaneous users MYOB
Accounting Plus allows more than one user to access a company
file. Though MYOB Accounting Plus provides you with a single
network licence at the time of purchase, you can buy additional
licences (also known as workstation seats) whenever the need
arises.
To create a user account
258
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.
3
In the Sign-on window, type Administrator in the User ID
field, type the administrator’s password in the Password field,
and click OK. Only the Administrator account allows you to
create, edit and delete user accounts.
4
Go to the Setup menu and choose Preferences.
5
In the Preferences window, click the Security tab and then
click User IDs. The User Access window appears.
MANAGING USER ACCOUNTS AND COMPANY FILES
To activate your company file for additional
workstation licences [MYOB Accounting Plus only]
4
When the volume of transactions grows too large for a single
person to handle, you can purchase extra workstation licences to
allow additional users to access the company file simultaneously.
Write down the confirmation code Ask the Customer
Service representative for the company file’s confirmation
code—you may need to activate the extra licences you
purchased.
NOTE :
Before you begin, have your credit card on hand.
1
Start MYOB Accounting Plus and open the company file
requiring extra workstation licences.
2
Go to the Setup menu and choose Company Information.
3
In the Company Information window, click License.
Call Customer Service at the number given in the Enable
License window and follow the Customer Service
representative’s instructions.
5
Confirm the extra workstation licences.
„ 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
Backing up is the copying of a company file to some form of
storage medium, such as a floppy disk, CD, a different hard disk
or other media. You can also use the backup function in MYOB
Accounting to create a compressed archive file that takes up less
space. The archive file has a ‘.ZIP’ extension.
Precautions when backing up Avoid common mistakes that
can cause you to lose backups of company files:
„
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.
CAUTION : [MYOB Accounting Plus only] 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 268.
BACKING UP AND RESTORING COMPANY FILES
Take care when backing up multi-user company files If
multiple users access a company file on a host computer,
always back up the company file that is stored on the
host—especially if you create custom forms and templates on
the host computer and then copy them to workstations.
When you do a full backup, you then 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. If
you accidentally copy some corrupted data over your
previous backup file, that backup is no longer valid. Without a
259
valid backup, you would need to re-create your company file.
You can reduce this risk by making separate backups to
protect your company data—for example, at the end of each
business day.
„
Store backups offsite Store monthly and yearly backups in a
safe place, preferably away from your office. Except for daily
rotational backups, do not reuse media.
„
„
3
To make a backup of your company file
The Backup command creates a backup of the company file you
are currently using and compresses it to a smaller, more
manageable size.
CAUTION : [MYOB Accounting Plus only] Backups and multi-user
company files If there are multiple users accessing a company file
on a host computer, back up the host company file—especially if
you are doing a full backup that includes custom forms, and letter
and spreadsheet templates.
1
Go to the File menu and choose Backup. A company file
backup window appears.
To back up your company file and templates, click Backup
all data.
To back up your company file only, click Backup Company
File only.
Choose whether to check your company file for errors before
making your backup:
„ To check for errors, click Check Company File for errors.
„ To prevent error checking, click Do not check Company
File for errors.
Maintaining data integrity We recommend checking
for errors so that if you need to revert to a backup, data integrity
is ensured.
NOTE :
4
Click Continue.
„ If you selected the Do not check Company File for errors
option, go to step 7 on page 261.
„ If you selected the Check Company File for errors option,
note that this verification process may take several minutes.
5
Click OK in the window that appears when the verification
process has finished. This window appears whether or not
errors have been found in the company data file.
For more information about checking your company file for
errors, either:
„ see step 2 of ‘To check your company file for errors’ on
page 264
„ press F1 for Help.
CAUTION : If the backup process does not work If any
warning or error messages appear at any stage of the backup
process, contact MYOB Support.
2
260
Choose the type of backup you want.
MANAGING USER ACCOUNTS AND COMPANY FILES
6
In the Backup window that appears, select where you want
to store the backup file.
Restoring a backup company file
To restore a backup
1
Go to the File menu and choose Restore. The Restore
window appears.
The default filename assigned to the backup file is described in
the following table.
Default filename
further details
MYOmmdd.zip
•
•
mmdd is the month and day
from your computer’s clock
.zip is the file extension and
cannot be changed.
7
If you want, you can change the name of the backup file.
8
Click Save.
9
Label all your backups with enough information to tell you
when they were done and where you were up to in data
entry—for example, ‘Friday 4/5/08’ or ‘Backup as of 4/5/08’.
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.
2
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
Select the folder where you want to save the restored file. By
default, the restored file will be saved in the same folder as the
backup file.
4
Click Save. A message appears showing that the company file
will be restored to the selected folder.
5
Click OK to complete the restore.
When you restore a file that has not been activated, the
Company File Activation window appears. If you do not need to
enter transactions into the restored file, click I want to mark this
BACKING UP AND RESTORING COMPANY FILES
261
file as Read Only and then click Continue to open the file in
read-only mode.
If, later, you need to activate the read-only file, go to the Help
menu and choose Activate Company File.
NOTE : Restoring from a CD If you are restoring a backup file from
a CD, the file will be read-only. To read data from the file, you need
to change the file’s attributes by right-clicking the file, choosing
Properties and deselecting the Read-only option.
Confirming activated company files
After a company file is activated, once or twice a year you must
confirm its activation for the life of the file. The confirmation
verifies to MYOB that you are running a legal installation of your
MYOB software. When confirmation is due and you attempt to
open an activated company file, the Company File
Confirmation window appears.
read-only mode, in which you can still view transactions, print
reports or export data, but will not be able to enter any data.
NOTE : Confirming a read-only file If you have elected 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.
These procedures show you how to confirm an activated
company file and set up automatic confirmation:
„
‘To confirm a company file online’ below
„
‘To confirm a company file by telephone’ on page 263
„
‘To set up automatic company file confirmation’ on
page 264.
To confirm a company file online
You have a period of grace in which to confirm the company file,
indicated under the Confirm Your Company File heading. If you
don’t want to confirm immediately, click I want to confirm my
company file later and click Continue to open the file. After the
period of grace expires, the company file can only be opened in
262
1
Ensure you are connected to the Internet.
2
Open the company file you want to confirm.
3
In the Company File Confirmation window, click I want to
confirm my company file online.
4
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.
MANAGING USER ACCOUNTS AND COMPANY FILES
The Company File Confirmation – Confirmed window
appears.
5
If you prefer your MYOB software to perform subsequent
confirmations automatically, select the I want to use
Automatic Confirmation option.
6
Click OK and in subsequent windows choose the options
relevant to your business needs, until a command centre
appears. The company file has been confirmed and you can
continue to enter transactions.
NOTE : Frequent requests to confirm If, after confirming a
company file, you are asked within a short time to confirm it
again, contact Technical Support. Some reasons why this might
happen are explained in ‘Troubleshooting activated company
files’ on page 264. Under normal circumstances, confirmation
only occurs once or twice a year.
5
Follow the instructions to receive your confirmation code.
6
Type the confirmation code in the Confirmation Code field
and click Continue.
To confirm a company file by telephone
1
Open the company file you want to confirm.
2
In the Company File Confirmation window, click I want to
confirm my company file by phone.
3
Click Continue. The Company File Confirmation – By
Phone window appears.
4
Call MYOB on the telephone number displayed under the
Company File Code field.
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 from MYOB each time your MYOB
software requests confirmation.
NOTE :
7
If you have an Internet connection and you prefer to perform
subsequent confirmations automatically, select the I want to
use Automatic Confirmation option.
8
Click OK and respond to subsequent windows as required
until an MYOB software command centre appears. The
company file has been confirmed and you can continue to
enter transactions.
Frequent requests to confirm If, after confirming a
company file, your MYOB software asks you within a short time
to confirm it again, contact Technical Support—see
‘Troubleshooting activated company files’ on page 264. Under
normal circumstances, confirmation occurs only once or twice a
year.
NOTE :
CONFIRMING ACTIVATED COMPANY FILES
263
To set up automatic company file confirmation
After a company file has been activated, your MYOB software
asks you to confirm it once or twice a year. You can manually
confirm the company file either over the Internet (see page 262)
or by telephone (page 263). But, if you prefer, your MYOB
software can confirm company files over the Internet
automatically.
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.
NOTE :
1
Start your MYOB software and click Open a company file in
the Welcome to MYOB Accounting window.
2
In the Open window, select the company file to be confirmed
automatically and click Open.
3
Go to the Setup menu and choose Preferences.
4
In the Preferences window, click the Security tab.
5
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 the notification of successful
confirmation each time.
Troubleshooting activated company files
The activation and confirmation of company files is sensitive to
changes of the date in your computer’s system clock. In some
circumstances, changes or discrepancies in the system date start
an immediate confirmation process.
Workstations out of synchronisation If multiple users on
different workstations are accessing a company file
simultaneously and the dates in the system clocks of one or more
workstations differ, you will need to synchronise clocks and
confirm the company file the next time you open it.
Date changed while company file is open If you open a
company file and change the date in your computer’s system
clock while the file is open, then close the file, you may need to
confirm the company file next time you open it.
Servicing your company file
Checking your company file for errors
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.
By checking your company file for errors, you can catch minor
problems in the file before they cause serious problems.
264
To check your company file for errors
CAUTION : [MYOB Accounting Plus only] Single-user access
required Checking a company file for errors requires single-user
access. If you normally have multiple users accessing a shared
company file on a host computer, verify the company file on the
host computer when no other users are logged on. See ‘Single-user
file locking for special tasks’ on page 268.
MANAGING USER ACCOUNTS AND COMPANY FILES
1
Go to the File menu and choose Verify Company File. A
confirmation window appears.
4
If an optimisation recovery file exists, we recommend that
you click Yes to retain a copy of it. Then click OK.
2
Click OK to confirm that you want to verify your company
file. Your company file is scanned for errors. When the file
verification process is complete, a message appears
describing the results of the process.
„ If no errors were found, click OK to end the verification
process.
„ If your company file is corrupt, you can:
„ Attempt to repair the company file by optimising it—see
‘Optimising your company file’ below—and repeat this
step to check if the errors have been fixed.
„ Restore the company file from your most recent
backup—see ‘To restore a backup’ on page 261.
5
Click OK when the optimisation process is complete.
Optimising 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
Optimisation Assistant to remove the unused areas in the
company file and keep your accounting software running
efficiently.
To optimise a company file
CAUTION : [MYOB Accounting Plus only] Optimising multi-user
company files If multiple users are accessing a shared company
file on a host computer, optimise the company file on the host.
1
Open the company file to be optimised.
2
Go to the File menu and choose Optimise Company File. An
information window appears.
3
Click OK.
SERVICING YOUR COMPANY FILE
Purging information that is no longer
needed
Purging is the process of removing data from your company file.
After you have used MYOB software for a long time, you will
notice that the size of your company file has grown considerably.
When your company file has grown larger than you want it to,
you can purge, that is remove information that is no longer
needed. After transactions are purged, they will no longer appear
on any report.
The procedure for purging information applies if you are
purging:
„
journal entries
„
sales
„
purchases
„
business contacts
„
contact logs
„
activity slips (MYOB Accounting Plus only)
„
sales history figures.
NOTE : [MYOB Accounting Plus only] Payroll journal entries are
not purged Payroll journal entries are needed to print your
payroll tax forms. When you purge journal entries, the payroll
entries are not removed.
Purging activity slips and timesheets
When purging activity slips and timesheets, note the following:
„
If you’ve billed an activity slip on an invoice, you can purge
that activity slip only if the invoice on which it was billed has
been purged.
265
„
You can purge a timesheet only if an employee payment for
the timesheet’s hours has been made using the Process
Payroll assistant.
„
If you purge activity slips, any slips with hours recorded on
timesheets are not purged. You must purge timesheets to
purge those activity slips.
„
If you purge a timesheet, any activity slips with hours
recorded on the timesheet are also purged. Note that only
timesheets for which an employee has been paid can be
purged.
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 lock file name for each company file.
To purge information
CAUTION : [MYOB Accounting Plus only] Purging multi-user
company files Purging a company file requires single-user access.
If you normally have multiple users accessing a shared company file
on a host computer, purge the company file on the host computer
when no other users are logged on. See ‘Single-user file locking for
special tasks’ on page 268.
266
1
Open the company file to be purged.
2
Create a backup file. See ‘To make a backup of your company
file’ on page 260.
3
Go to the command centre you want to purge information
for. The information you can purge is dependent upon the
command centre you are in. For example, if you are in the
Sales command centre, you can only purge closed invoices.
4
Go to the File menu and choose Purge [...].
5
Click Continue and follow the instructions in the Purge [...]
wizard.
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, causing error messages to appear when you try to access
your company file again.
To resolve these error messages, you must exit your MYOB
software. In Windows Explorer, open the folder that contains the
company file and delete any lock files in the folder. You should
then be able to open your company file without an error.
MANAGING USER ACCOUNTS AND COMPANY FILES
Special considerations for networked company files
MYOB Accounting Plus only
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.
See:
„
‘Preferences in a network environment’ below.
„
‘Preventing data entry while generating reports’ on
page 269.
„
‘Storing custom reports and custom forms on a network’ on
page 270.
„
‘Displaying up-to-date information’ on page 270.
„
‘Improving network performance’ on page 270.
Preferences in a network environment
When a user attempts to send transaction data to the company
file, MYOB Accounting Plus checks for the presence of a lock file in
the same folder as the company file. Then, if no lock file is
present, MYOB Accounting Plus creates a lock file which allows
only that user, but no other, to write data to the company file.
When the data has been written, MYOB Accounting Plus removes
the lock file.
There are also times when only one person should have access to
the company file to perform important maintenance procedures,
such as a backup, printing end-of-period reports or optimising
the file. Again, a lock file prevents all but a single user from
performing maintenance tasks. For more information, see:
„
Multi-user file locking for daily transactions, below.
„
‘Single-user file locking for special tasks’ on page 268.
„
Problems with lock files, page 268.
„
To delete lock files, page 269.
Some of the choices in the Preferences window of MYOB
Accounting Plus can affect how everyone works with your
company file. These preferences are clearly marked System-wide.
Multi-user file locking for daily transactions
Preventing data from being overridden
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.
When users simultaneously run MYOB Accounting Plus on two or
more workstations and send transactions to a shared company
file at the same time, it would be possible for one person to
overwrite the data of another if special precautions were not in
place. MYOB Accounting Plus ensures that only one person can
access the company file at a time by locking the file to keep others
out until the first user has finished.
SPECIAL CONSIDERATIONS FOR NETWORKED COMPANY FILES
Multi-user file locking ensures that changes cannot be made in
some windows while related data is being changed by another
user.
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.
If you would like to know when another user has changed data in
a window, go to the Setup menu, choose Preferences, click the
267
System tab, and mark Automatically Refresh Lists When
Information Changes. Now, if another user changes
information you are viewing, MYOB Accounting Plus closes your
window. When you reopen it, the data is updated.
„
backing up a company file
„
restoring a backup file
„
company file verification
„
purging data
„
exporting data
„
importing data
„
starting a new financial year
Single-user file locking for special tasks
„
starting a new payroll year
Although several users can share a company file for entering daily
transactions, there are times when only one user should have
access. Many of these tasks are file maintenance procedures such
as backing up, and checking and optimising the company file.
For example, optimising a company file rearranges its internal
structure, so you need to ensure 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.
„
loading payroll tax tables
„
setting up, changing or removing an employee’s payroll
information
„
creating, changing or removing payroll categories
„
creating, changing or deleting report batches
„
optimising a company file
„
setting up, changing or removing user accounts.
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.
MYOB Accounting Plus displays a File is busy; access denied
message when another user is accessing a shared company file,
and you both try to save a transaction or write data. When you
see this message, wait a few moments for the other transaction to
finish and for MYOB Accounting Plus to delete the lock file, and
then click Retry.
View a list of users If you have been prevented from
accessing the company file, you can identify which user 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).
TIP :
TIP :
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 MYOB
Accounting Plus, click Single-user access in the Sign-on
window.
268
The tasks that require single-user file locking include:
Problems with lock files
If the power fails, or you switch off your computer while MYOB
Accounting Plus is running, or your system crashes, MYOB
Accounting Plus is unable to delete the lock file. You will need to
delete the lock files manually. See ‘To delete lock files’ on
page 269.
MANAGING USER ACCOUNTS AND COMPANY FILES
The following situations can cause lock files to accumulate in the
folder where the company file is kept, resulting in various error
messages when you try to open a company file:
„
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 the company files are kept.
This can occur legitimately if there are more than 10
company files in the folder, 10 of which are open
simultaneously, In this case, opening an 11th file would
create an illegal 11th lock file.
It is unlikely that 10 company files in a single folder will be
open simultaneously. More likely, 10 lock files have
accumulated in the folder owing to crashes and other
problems.
„
Navigate in Windows Explorer to the folder where you keep
the shared company file.
5
Delete all lock files. They are named Lock????.flk, where
???? stands for a number from 0001 to 0010.
6
Restart MYOB Accounting Plus and reopen the shared
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.
„
4
You have reached the maximum number of simultaneous users
allowed under your MYOB Accounting Plus Workstation
Licence
If you know this is incorrect, the problem may be a lock file.
To delete lock files
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 MYOB Accounting Plus will run
correctly.
1
Ask all users to close the shared company file and log out of
MYOB Accounting Plus.
2
Go to the File menu and choose Active Workstations to
check whether any users are still logged in. If there are, ensure
they have logged out before continuing.
3
Log out of MYOB Accounting Plus.
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. If you don’t, other users will be able to continue
making entries in the company file and your report may not be
accurate. If another user changes information that affects the
report while it’s being printed or displayed, that particular entry
may be indicated by zeros or blank spaces on the report. In
addition, new entries that other users make might affect the total
amounts on some reports.Therefore, you should consider
printing or displaying the report at a time when you know that
no entries are being made that will affect its accuracy.
Before you print or display a report, open the Report
Customisation window for the report. You can select the
Prevent Data Changes During Report Generation option (on
the Finishing tab of the Report Customisation window) to turn
on multi-user file locking and prevent other users from adding,
changing or removing any information from the company file
while MYOB Accounting Plus is generating the report. When you
print or display the report with this option selected, the report
will be as up to date and accurate as possible.
However, keep in mind that a few MYOB Accounting Plus reports
take some time to be generated. You might want to consider
printing these lengthy reports at times when other users won’t be
forced to wait for the report to be generated before they can
resume making entries in the company file.
269
Storing custom reports and custom forms
on a network
When you create custom reports and custom forms, information
about them is stored on your workstation’s hard disk and not on
the network. Other users of the same company file won’t be able
to use your custom reports or custom form unless you copy the
reports to the appropriate locations on their workstations. (You
may want to ask your system administrator to perform this task.)
„
Improving network performance
The following list outlines a number of ways in which you can get
the most out of MYOB Accounting Plus:
„
Use single-user access whenever possible.
„
Optimise your company file frequently—see ‘Optimising your
company file’ on page 265.
„
Do not select the Automatically Refresh Lists when
Information Changes option in the Preferences window.
Displaying up-to-date information
„
Do not select the Warn for Duplicate Cheque Numbers
option in the Banking tab of the Preferences window.
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.
„
Do not select the Warn for Duplicate [...] Numbers on
Recorded Sales option in the Sales tab of the Preferences
window.
„
Do not select the Warn for Duplicate [...] Numbers on
Recorded Purchases option in the Purchases tab of the
Preferences window.
„
Use Easy-Fill when entering card names, account names, and
item numbers or names.
„
Avoid leaving list windows open.
„
Use only a few linked accounts for stock 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.
Custom reports are stored in the Custom folder and custom
forms in the Forms folder. Both these folders are located under
the folder where MYOB Accounting Plus is installed on your
workstation.
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, MYOB Accounting Plus
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 :
270
Manual update Go to the Window menu and choose
Refresh All. To update an on-screen report in the Report
Display window, click Redisplay.
MANAGING USER ACCOUNTS AND COMPANY FILES
exporting data
Exporting data
To export data
You can take data entered in your MYOB software and use it in
other software programs or in other MYOB company files. This
process is called exporting data.
Some of the types of information you can export are: accounts,
items, nominal journal entries, Receive Money transactions,
Spend Money transactions, sales, purchases, cards, jobs, activities
and activity slips.
Exporting timesheets When you export timesheets, only
the entries that don’t have activity slips associated with them are
included. You must export activity slips to complete the process.
NOTE :
1
Go to the File menu, choose Export Data and then choose
the type of data you want to export. The Export File window
appears.
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 Plus Fields (if you’re using
The data can be exported to a tab-delimited or
comma-separated text file.
[MYOB Accounting Plus only] 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 268.
NOTE :
Before you export data, you should make a backup of your
company file. See ‘Backing up and restoring company files’ on
page 259.
271
APPENDIX A : IMPORTING AND EXPORTING DATA
Appendix A: Importing and
MYOB Accounting, the column is labelled MYOB Fields)
column. Field 1 will appear in the Export Order column next
to the field you selected. The field name will appear at the top
of the Export Fields column on the left side of the window.
5
Repeat the previous step for each field you want to export.
you want to export all the fields in the order they’re shown in
the 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.
If you want to remove a field name from the Export Fields
column, click the name in the MYOB Plus Fields column. If
Importing data
Your MYOB software allows you to 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, nominal journal entries, Receive Payments transactions,
Receive Money transactions, Spend Money transactions, Pay
Suppliers transactions, sales, purchases, cards, jobs, activities and
activity slips.
Importing timesheets When you import timesheets, only
the entries that don’t have activity slips associated with them are
included. You must import activity slips to complete the process.
NOTE :
The data can be imported from a tab-delimited or
comma-separated text file.
[MYOB Accounting Plus only] Single-user access required
for data import You must not import data when more than one
user is logged in. For more information, see ‘Single-user file locking
for special tasks’ on page 268.
NOTE :
272
If you are importing journals from your accountant If you
send information to your accountant using the AccountantLink
feature (see ‘To export information to accountants’ on
page 252), you can import the adjusting journals your
accountant sends you. For more information, see ‘To import
nominal journals from your accountant’ on page 253.
To import data
Before you start the import process, you will need to export the
data you want from the program you’ve used to create the data.
The data you want to import must be stored in a tab-delimited or
comma-separated file format.
NOTE :
Before you import data you should make a backup of your
company file. See ‘Backing up and restoring company files’ on
page 259.
1
Go to the File menu, choose Import Data and then choose
the type of data to import. The Import File window appears.
2
Select the import file format, the type of the first record, and,
if required, method of handling duplicate records. For more
information, click Help and then choose Help for This
Window.
APPENDIX A:
IMPORTING AND EXPORTING DATA
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.
b Click the matching field in the MYOB Plus 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 :
c Click a field in the Matching Import Field column to
remove it.
d If all the fields in the import file match those in the MYOB
Plus Fields column, click Match All to match all fields
simultaneously.
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.
6
5
Match the import fields with the MYOB Plus Fields column
(if you’re using MYOB Accounting, the column is labelled
MYOB Fields).
a Click the name of a field in the Import Fields column.
Importing data from MYOB RetailBasics
Using MYOB RetailBasics together with your MYOB software
enables you to import point-of-sale data—such as sales,
surcharges, VAT collected and liabilities accrued—from
MYOB RetailBasics to your MYOB software. This saves you from
having to manually enter this data into your accounting system.
To use this feature, you need to:
Set up your MYOB software
Before you can start importing MYOB RetailBasics data into your
MYOB software, you need to complete the following tasks.
Task
See
„
Set up your MYOB software.
1
Set the preference to import from MYOB RetailBasics
page 274
„
Export MYOB RetailBasics data—daily, weekly or as required.
2
Set up accounts for MYOB RetailBasics data
page 274
„
Import MYOB RetailBasics data into your MYOB
software—whenever there is a data file to import.
3
Replicate your VAT code lists
page 274
IMPORTING DATA FROM MYOB RETAILBASICS
273
Task 1: Set the preference to import from
MYOB RetailBasics
To set up your MYOB software to import MYOB RetailBasics data,
you need to set a preference. You only need to do this once.
1
In your MYOB software, go to the Setup menu and choose
Preferences. The Preferences window appears.
2
Click the System tab and select the I Use MYOB RetailBasics
option.
„
[Optional] Lay-by account to record lay-by payments (a
liability account, for example 2-2050)
„
[Optional] Credit card surcharge account to record fees
collected (an income account, for example 4-2150)
„
[Optional] Asset accounts to record your various payment
types. You can set up a separate account for cash, EFTPOS,
VISA, MasterCard, AMEX and Diners payment types or, if you
want to group similar payment types (for example, credit
card payments), an account for each payment group.
Task 3: Replicate your VAT code lists
3
Click OK.
Task 2: Set up accounts for
MYOB RetailBasics data
You need to set up your accounts list to include accounts for the
following items.
NOTE : Accounts may already exist You may have already created
some of these accounts when you set up your company file. Review
the list below and, if necessary, add the required accounts to your
account list. For more information, see ‘Setting up accounts’ on
page 25.
274
„
Sales account to record sales income (an income account, for
example 4-1000)
„
Bank account to record your daily takings (an asset account,
for example 1-1100)
„
VAT account to record VAT collected (a liability account, for
example 2-1030)
„
Account to record cash drawer discrepancies (an expense
account, for example 6-1100)
The VAT codes you use in MYOB RetailBasics must match the VAT
codes you use in your MYOB software. To make sure that your
codes match, print a list of your MYOB software VAT codes and
then compare this list with your MYOB RetailBasics VAT codes.
If necessary, add any required VAT codes in MYOB RetailBasics.
For more information, see the MYOB RetailBasics User Guide.
If there are additional VAT codes in MYOB RetailBasics, and you
intend to use these codes, you need to set up these codes in your
MYOB software. For more information, see ‘Setting up VAT
codes’ on page 163.
To print a list of your MYOB software VAT codes
1
Go to the Lists menu and choose VAT Codes. The VAT Code
List window appears.
2
Click Print.
APPENDIX A:
IMPORTING AND EXPORTING DATA
Export MYOB RetailBasics data
You need to export your MYOB RetailBasics data before you can
import it into your MYOB software. When exporting, you need to
save the export data in your MYOB software installation folder so
that it is imported automatically by your MYOB software.
However, you can choose to save the data in another folder, if
you want. For more information on exporting MYOB RetailBasics
data, see the MYOB RetailBasics User Guide.
IMPORTING DATA FROM MYOB RETAILBASICS
Import MYOB RetailBasics data into your
MYOB software
If you saved the MYOB RetailBasics data in your MYOB software
installation folder, your MYOB software detects the data when
you open your company file, and starts importing the data
automatically.
If you chose to save the data in another folder, you need to
import it manually from the location where you saved it. For
more information, see MYOB Help.
275
276
APPENDIX A:
IMPORTING AND EXPORTING DATA
company files
Preparing company files for multiple users
This section assumes that your 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 are for the most
common situation, where a LAN is protected from the external
internet by a firewall on a router or gateway computer.
This section only applies to MYOB Accounting Plus users.
MYOB Accounting only supports a single user and cannot be
networked.
NOTE :
MYOB Accounting Plus is a network-ready application that
comes with one licence. However, if your volume of transactions
grows too great for one person to handle, you can purchase
additional workstation licences so that several users can access
the company file simultaneously. See ‘To activate your company
file for additional workstation licences [MYOB Accounting Plus
only]’ on page 259.
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 automatically belong to the 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.
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 2000, XP
or Vista.
NOTE : The Everyone user group may be a security risk The
Everyone user group allows anyone on the network to access the
shared company file. If some employees are not authorised to access
your accounting data, read Windows help or consult a networking
expert to set up secure access.
Setting up networks needs expert skills Because setting
up routers or hubs, cabling computers, and configuring network
hardware and software requires expert knowledge, you may need to
employ an expert with the necessary skills.
NOTE :
277
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 MYOB
Accounting Getting Started guide.
Networking
Local area network (LAN), peer-to-peer
Windows host
Windows® 2000 (Service Pack 4), Windows® XP
(Service Pack 2) or Windows® Vista
Equipment
Pentium processor (or equivalent) with 1 GHz or
better with at least 128 MB RAM
Protocols
Ethernet network (for best performance choose
100BaseT) that supports NetBEUI, NetBIOS or TCP/IP
networking protocols
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:
„
„
278
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 279
„
To share a folder on Windows 2000 Professional or XP,
page 279
„
To share a folder on Windows 2000 Standard, page 280.
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.
The Company_Files Properties window appears.
4
Click the Sharing tab and set the fields and controls as shown
below.
1
If only administrators can set permissions on your computer,
log in as an administrator.
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 282.
To share a folder on Windows 2000 Professional or XP
This procedure applies to Windows 2000 Professional and XP. If
you are using Windows 2000 Standard, see ‘To share a folder on
Windows 2000 Standard’ on page 280. 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.
1
If only administrators can set permissions on your computer,
log in as an administrator.
SETTING UP A COMPANY FILE FOLDER ON A WINDOWS HOST
Share this
folder
(Share this
folder in the
network)
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.
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.
279
Maximum
allowed
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.
Allow
network users
to change my
files
Select this option. This option is not present if
your network does not have workgroups or you
are logged in to a domain.
5
If your network does not have workgroups or you are logged
in to a domain, continue with step 8.
6
Click Permissions. The Permissions for Company_Files
window appears.
7
Click the Everyone user group, then set the Allow and Deny
access in the Permissions list as shown below.
Change
Select
Deselect
Read
Select
Deselect
8
Click OK. The Company_Files Properties window reappears.
9
Click OK.
10
In Windows Explorer, move the company file from its present
location to the Company_Files folder on the host.
11
Continue with ‘Accessing the shared company file from a
workstation’ on page 282.
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 8.
Enable file sharing
280
Permissions for Everyone
Allow
Deny
Full control
Select
Deselect
1
Open the Network control panel.
2
In the Configuration tab, click File and Print Sharing. The
File and Print Sharing window appears.
3
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.
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
Click OK. The Network control panel window reappears.
6
Click OK.
7
If a message asks you to restart the computer, click Yes.
11
Set the access permissions according to which groups of
controls appear on the Sharing tab.
„ Access Type controls group
Click Full and enter 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 and select ‘The world’, click OK and choose
Read Files and Write to Files.
12
Click OK.
13
In Windows Explorer, move the company file from its present
location to the Company_Files folder on the host.
14
Continue with ‘Accessing the shared company file from a
workstation’ on page 282.
Share a company file folder
8
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.
9
Right-click the Company_Files folder and choose Properties.
The Company_Files Properties window appears.
10
Click the Sharing tab and set the fields and controls as shown
below.
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 Properties window.
SETTING UP A COMPANY FILE FOLDER ON A WINDOWS HOST
281
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 MYOB Accounting Plus and
opens the shared company file.
Complete these procedures on every Windows workstation that
is to access the shared company file:
„
‘To access a shared folder on Windows Vista’ below
„
To access the shared company file folder on other Windows
versions, below.
„
To open your company file from a shortcut, page 283.
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.
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
see the shared folder listed as Company_Files on 'Hongs-pc'
(V:).
5
To access the 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 and select the host computer on which the shared
company file folder is stored.
3
If a Connect to hostName window appears:
a Complete the User Name and Password fields.
b Select the Remember my password option.
c Click OK. You should now be able to see the
Company_Files folder.
4
Right-click the Company_Files folder and choose Map
Network Drive. The Map Network Drive window (or
wizard) appears.
5
Accept the proposed drive letter or choose another.
Access may be password protected If a password is
required to access the shared company file folder, a window will
request that you enter a user name and password when you
attempt to access it.
NOTE :
282
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
Open the shared Company_Files folder. You should be able
to see the shared company file in it.
APPENDIX B:
NETWORKING COMPANY FILES
6
Select the Reconnect at logon option and click OK (or
Finish).
7
If access to the folder is password protected, a logon window
may appear. If so, enter 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:)’.
8
Open the shared Company_Files folder to see the shared
company file.
9
Continue with ‘To open your company file from a shortcut’
below.
[Windows 2000 and XP users only] The path to this location
should also be enclosed in double quotation marks, for
example, “C:\Premier\Myobp.exe"
"V:\Clearwtr.myo”.
8
In the Start in field, type the drive and folder for the company
file. If you are using Windows 2000 or XP users, enclose them
in double quotation marks (“), for example, “V:\MYOB”, as
shown below.
To open your company file from a shortcut
A fast way to open a company file is to create a shortcut on your
desktop. To use a shortcut to launch your company file, you need
to create a shortcut to the software as well as the company file.
1
Right-click an empty area of the desktop and choose New
and then Shortcut. The Create Shortcut wizard appears.
2
Type the file path or click Browse to locate the MYOB
Accounting Plus program file (Myobplus.exe) and click
Next.
3
Type a name for the shortcut and click Finish.
4
Right-click the new shortcut and choose Properties. The
Myobplus.exe Properties window appears.
9
Click OK to close the Shortcut to Myobplus.exe Properties
window.
5
Click the Shortcut tab. The Target field displays the location
of the MYOB Accounting software you entered in step 2
above.
10
6
[Windows 2000 and XP users only] Enclose the location of the
program file in double quotation marks (“), for example,
“C:\Premier\Myobp.exe”.
Double-click the shortcut on the desktop to test it. Your
MYOB software should start on this workstation and
immediately open the specified company file, whether it is
stored on a remote host or this workstation.
11
Repeat from step 1 on each workstation that needs access to
the company file.
7
(Note that if you are using Vista, you should not include
quotation marks.)
In the Target field, type a space after the program file
location, and then type the location of the company file,
including the .myo file extension.
ACCESSING THE SHARED COMPANY FILE FROM A WORKSTATION
283
284
APPENDIX B:
NETWORKING COMPANY FILES
GLOSSARY
Glossary
accounts list Commonly referred to as a chart of accounts, this
is a list of all your asset, liability, capital, income, cost of sales,
expense, other income, and other expense accounts.
A
account Something to which a transaction is allocated. For
example, if your business sells widgets, you could create an
income account for widget sales and then allocate all widget
sales income to that account. An account thus provides a means
of grouping similar transactions. Accounts in MYOB business
management software are in one of eight categories:
„
Asset
„
Liability
„
Capital
„
Income
„
Cost of sales
„
Expense
„
Other Income
„
Other Expense
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.
ageing: creditors The number of days between receiving a
purchase from a supplier and an ageing date (usually today).
ageing: debtors The number of days between invoicing a
customer and an ageing date (usually today).
allocation account Usually an expense or income account
used to automatically balance a transaction such as a cheque 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, such as a factory building, are
called fixed assets.
Accounts are classified as header or detail. Transactions are
allocated directly to detail accounts. Header accounts are used to
summarise multiple detail accounts. Each account must have a
unique number.
audit trail A record of transactional, VAT, account, payroll and
system changes made to your company file. You can print an
audit trail report.
account number The account number identifies an account.
Each account must have a unique number.
average cost method The cost method to value a stock 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.
accounting period A part of your financial year. MYOB
Accounting treats each calendar month as a separate accounting
period. MYOB software also provides an optional 13th period for
year-end adjustments.
285
B
bad debt
Money owed to you that is unlikely to be paid.
balance The sum of all the money added to and subtracted
from an account.
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 capital 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 capital accounts.
budget Expected monthly net activity for an account. Budgets
are useful for planning for the future and for analysing actual
performance against planned performance.
buying unit The unit of measurement—such as dozens,
cartons or crates—by which you purchase items from your
suppliers.
category A label you create and define for grouping
transactions. A category can be a department, profit centre,
geographic division or any other subset of your business that
requires separate reporting. See also wage category and payroll
categories.
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.
cleared A withdrawal or deposit is said to be cleared when your
bank accepts it in your account balance.
closed period An accounting period in which all entries are
completed. MYOB Accounting does not require that you actively
close a period. However, in the Preferences window you can
prevent accidental posting to a closed (locked) period.
closed purchases
closed sales
C
Sales that have been paid in full.
capital A company’s net worth. The capital of a company
equals its assets minus its liabilities. See also capital account.
comma-separated text file A file format in which fields are
separated by commas. Files in this format can usually be
imported into MYOB software.
capital account One of the eight account categories. Some
common capital accounts are current year earnings, retained
earnings and shareholder’s capital. Capital accounts usually carry
a credit balance.
company information Found in the Setup menu, your
company information contains your company’s name, address,
VAT information and information about your company’s financial
year.
card A record of contact information and other details of
customers, suppliers, employees and personal acquaintances.
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.
carry over entitlement An employee entitlement accrued in
one financial year and carried over to the next.
286
Purchases that have been paid in full.
GLOSSARY
conversion month The earliest month in the financial year for
which transactions are to be recorded. If you purchase 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, capital and income accounts.
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.
creditors What you owe for goods or services delivered. The
sum of all creditors is recorded as a liability account. When you
record a purchase in the Purchases command centre, the unpaid
balance of the purchase is added to your creditors balance. When
you pay for a purchase (using Pay Suppliers in the Purchases
command centre), the amount is subtracted from your creditors
balance.
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, debtors and
petty cash. Current assets usually do not lose their value over
time. Current assets normally have a debit balance.
GLOSSARY
current liabilities Liabilities that become payable within a year.
Some of your current liabilities are creditors, client deposits and
VAT due. Current liabilities usually have a credit balance.
current year earnings Current year earnings is a capital
account. Its balance equals your income minus cost of sales and
expenses. Current year earnings are zero at the beginning of a
financial year. Current year earnings are kept as a running total as
the financial year progresses. When you start a new financial year,
the balance of the current year earnings account is reset to zero
because the balance amount is moved into the retained earnings
account.
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 someone returns something, and you
record an invoice that has a negative balance due, it is called a
customer credit. A customer credit is also created when a
customer account is overpaid. A customer credit is settled by
writing a refund cheque or applying the amount to another open
invoice.
D
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 supplier debit.
debtors What your customers owe you. The sum of all debtors
is recorded as an asset account. Any time you record a sale in the
Sales command centre, the unpaid balance of the sale is added
to your debtors balance. Every time you enter a customer
payment (using the Sales command centre), the amount is
subtracted from your debtors balance.
287
deposits from customers Advances received for goods or
services not yet delivered. Customer deposits are kept in a liability
account.
deposits to suppliers Advances paid to suppliers for goods or
services not yet delivered. Supplier deposits are kept in an asset
account.
earnings See current year earnings or retained earnings.
equity See capital.
expense A cost associated with running a business. Expense is
an account type. Expense accounts usually carry a debit balance.
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
nominal journal entry.
F
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.
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.
discount early payment The amount taken off the balance
due in return for payment within an agreed number of days.
financial 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.
discount volume purchase The amount taken off an item’s
cost because of a special supplier 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
capital accounts.
288
E
finance charge The amount added to an outstanding balance
as a penalty for late payment.
finished item An item that has been built ready for sale from its
component items.
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.
GLOSSARY
item A unit in your items list. An item can be physical stock, like
a widget or a pair of shoes, or it can be non-physical, like an hour
of your time.
G
gross profit
Defined as income minus cost of sales.
gross wages The total of all wage categories (hourly and salary)
you pay an employee. Also known as gross pay.
job Work for which you want to track income and expenses. A
job can be a profit centre, a product line, a project or any other
subset of your business that requires a separate income
statement.
H
header account A header account is used to group similar
detail accounts. You cannot post a transaction to a header
account.
historical balance The balance of an account prior to
converting your records to MYOB software. You are not required
to enter historical balances. Enter them only if you want to
compare a current month’s activity to the activity for the same
month last year.
journal A tool for organising your accounting entries. All entries
are grouped into one of six journals: nominal, disbursements,
receipts, sales, purchases or stock.
L
last cost
The most recent purchase price for an item.
ledger A record of account transactions in a double-entry
accounting system.
I
identifiers A one-letter code used to sort and select cards in the
card file. You can assign up to 26 identifiers to a card.
income Revenue from the sale of goods or services. Income is
an account type. 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.
invoice
J
liability Something you owe. Your working capital loan is a
liability. Your creditors are those whom you owe for a purchase,
and are liabilities. Liabilities that are due within a year are called
current liabilities. When a liability is not due for more than a year,
it is called a long-term liability. Liabilities normally have a credit
balance.
linked account MYOB software uses linked accounts to post
your stock, sales and purchase transactions to the proper
account. When, for example, you link your debtors account, you
are telling your MYOB software where to post the balance due
from a sale.
long-term liability
at least a year.
A liability that does not have to be paid for
The record of a sale.
GLOSSARY
289
M
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.
N
net pay
Gross wages less deductions.
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. When a net income has a positive value, it is called ‘net
profit’, and when it has a negative value, it is called ‘net loss’.
nominal journal A journal used to record miscellaneous
transactions not entered in other journals. For example, year-end
adjustments and depreciation expense.
nominal ledger This ledger comprises all your account
information such as sales, purchases, stock, cash in and cash out.
You prepare your financial statements (balance sheet and income
statement) from the nominal ledger information. You can also
print a nominal ledger report.
O
open purchase
open sale
A purchase with an outstanding balance due.
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 your suppliers. See creditors.
paycheque An employee’s pay—regardless of whether it is
paid by cash, cheque or electronic transfer. Also a printed form
constituting an employee’s pay. To print paycheques or review
pay details, go to the Payroll command centre and click Print
Paycheques.
profit & loss statement
See income statement.
profit centre A subset of your business for which you want to
track income and expenses. You can track a profit centre 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.
A sale with an outstanding balance due.
opening balance The balance of an account as at the start of
the first day of your conversion month.
operating profit Profit you made before considering ‘other
income’ and ‘other expense’.
290
other expense An account type used to record expenses that
are not directly related to your company’s operations, for
example, loan interest and fines. ‘Other expense’ accounts
usually have a debit balance.
purchase A recorded purchase transaction. In MYOB software,
the term also refers to a class of purchase entries, only one of
which is a transaction. A ‘purchase’ can be entered as a quote,
order, receive item or a purchase transaction.
GLOSSARY
purging The act of erasing old data. You can purge journal
entries, closed sales, closed purchases, activity slips and contact
logs.
Q
quantity breaks Minimum buying quantities at which you
offer items to customers at a discount. In MYOB Accounting Plus,
you can set a maximum of five quantity breaks with six different
price levels for each.
R
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 purchases, for which
the journal entry is not immediately obvious.
receivables What you are owed for items or services delivered.
See debtors.
reconciling The process of checking that your records agree
with your bank’s records.
recurring transaction An accounting entry that is made
periodically, such as weekly payroll, monthly rent, etc.
retained earnings Money from previous years earnings that
has been left in the company. At the end of a financial year any
money earned (or lost) during the financial year is transferred to
retained earnings. Retained earnings are recorded in a capital
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 cancelling a transaction by entering a
new transaction with the same amounts but with opposite signs.
GLOSSARY
S
selling unit The unit of measurement—such as dozens, cartons
or crates—by which you sell items to your customers.
shareholder’s capital The owners’ stake in the company. It is
the amount the owners invested in the company plus the current
year earnings and retained earnings.
stock Raw materials, stock available for sale and stock in the
process of being made ready for sale. Most accountants record
stock value in a current asset account. Stock items are valued
using the average cost method.
stocktake A count of your stock. Also known as a stock count or
an inventory count.
supplier Someone from whom you buy goods or services. You
must enter supplier details in a supplier card before you can
record a purchase.
supplier debit When you return something to a supplier, and
you record a purchase with a negative balance, it is called a
supplier debit (or a debit purchase). A supplier debit is also
created when you overpay your account. A supplier debit is
settled by recording a supplier’s refund cheque or by applying
the amount to another open purchase for the same supplier.
T
tab-delimited text file In this file format, fields are separated
by tab spaces. Files in this format can be opened by most word
processing and spreadsheet software and can usually be
imported into MYOB software.
terms See credit terms.
transaction
An entry that affects the balance of accounts.
291
trial balance A report showing all the activity for an account or
accounts within a selected date range. It shows 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.
W
wage category A component of wages. Wages comprise
several categories, for example, base hourly, base salary, bonus,
etc. These categories are calculated on either an hourly or salary
basis.
wage type Either hourly or salary. The basis on which a wage
category is calculated.
work in progress Work you have done for your clients that you
haven’t billed yet. This is indicated on activity slips by a value
other than zero in the Left to Bill field.
292
GLOSSARY
A
account levels
to track financial information 231
Account Opening Balances
window 28
account types 24
AccountantLink
exporting data to
accountants 252
importing journals from
accountants 253
accountants
receiving adjustments from 253
sending data to 252
accounting methods
accrual 165
cash 165
accounting periods
closing 251
locking 244 251
number of 20
accounts
adding 26
adjusting to reflect work in
progress 136
assigning VAT codes to 164
budgets for 237
changing 173
classifications 24
for statement of cash flows 26
combining 176
creating 26
INDEX
Index
activities
billing rates
setting 127
changing 129
creating time billing 128
definition of 128
deleting 129
exporting 271
importing 272
inactivating 129
setting billing rates for 127
deleting 174
detail 25
exporting
to accountants 252
to other software 271
finding 172
grouping 24
header 25
importing 272
indenting 27
list of 21
multiple currencies, tracking 155
new 26
numbers 24
opening balances 27
bank accounts 27
reconciling 55
for the first time 36
transferring
funds to foreign account 160
money between 50
types of 24
Activities List window 128
Activity Information window 128
activity slips
adjusting book value of work in
progress 136
assigning payroll category to 131
changing 133
creating
multiple 132
single 130
creating a slip to pay an
employee 130
deleting 133
exporting 271
finding 133
importing 272
including in employee’s pay 112
130
multiple 132
reviewing 133
single 130
using timer to create 131
Accounts List window 26
accounts payable. See creditors
accounts receivable. See debtors
accrual accounting 165
accrual accounts
setting up for items received 88
activation of company files
circumstances requiring 22
confirming activation
automatically 264
by telephone 263
over the Internet 262
adjustments
automatically adjusting base pay
details for leave 101
293
entering in 13th period 20 253
importing from accountants 253
making at year-end 253
administrator account
passwords 30
See also user accounts
Ageing Date window 93
Analyse Debtors window 69
analyse payables 93
Analyse Payroll window 123
Analyse Sales window 69
Analysis menu (command
centres) 13
arrows. See search icons, zoom
arrows
assets accounts 24
assets, recording
depreciation 250
audit trail 240
auditing company file
information 244
Auto-Build Information
window 144
Auto-Build Items window 145
auto-building items in stock 144
Automatically Adjust Base Hourly
or Base Salary Details 101
average cost 140
B
backing up
company file 259
Backorder List window 66
backorders
items purchased on 85
items sold on 85
bills
customising 206
recording 83
See also purchases
backup file, restoring 261
blank lines, inserting between line
items 64 87
bad debts, writing off 79
Budget Shortcuts window 238
bank accounts
adding 26
opening balances 27
reconciling
at month-end 52 55
at year-end 52
for the first time 36
out-of-balance amounts,
correcting 53
budgets 237
allocating for accounts 27
allocating for jobs 235
choosing accounts for 237
half-yearly 239
monthly 239
quarterly 239
reports for 237
yearly 239
bank deposits
preparing 45
business calendar 13
Bank Register window
finding a transaction using 181
Get Statement button 55
recording transactions in 49
Split button 50
bank service charges,
recording 53
bank statements
adding transactions from 55
importing 55
formats supported 55
reconciling 52 55
for the first time 36
out-of-balance amounts,
correcting 53
Banking command centre 44
billing for time. See time billing
294
billing rates, setting for
activities 127
customers 127
employees 127
suppliers 127
business contacts, maintaining list
of 213 217
supplier 81
assigning VAT codes to 164
changing 173
creating for
customers 59
employees 105
items 138
suppliers 34
custom lists and fields 219
deleting 175
exporting 271
finding 172
using advanced search
filters 173
using search fields 172
identification code 227
importing 272
inactive 174
organising in groups 219
synchronising cards and Outlook
contacts 221
carriage
charging customer for 63
paying suppliers for 86
cash accounting 165
cash wages, creating a cheque
transaction to record 116
Card ID field 227
categories
changing 173
creating 231
deleting 175
enabling allocation of 232
finding 172
setting up 231
tracking financial information,
using 231
See also payroll categories
Card Information window 81
charging for time. See time billing
cards
active 174
adding 213
customer 59
cheques
customising for printing 206
customising template 207
C
calculator 14
currency calculator 157
calendar 13
capital accounts 25
entering 47 –48
printing 203
recurring 48
voiding 56
columns, moving and resizing in
reports 191
combining accounts 176
command centres 11
Company Data Auditor 240
244 –248
Company File Confirmation
window 262
company files
activating
circumstances requiring 22
auditing 244
backing up 259
checking for errors 245 264
confirming
automatically 264
by telephone 263
over the Internet 262
desktop shortcut to 283
locking 267
optimising 265
purging unwanted data from 265
restoring from backups 259
sharing on a network
factors affecting how they
work 267
Windows 277
unable to open 266
verifying 245 264
company files folder. See network
components, using to auto-build
items 143
confirmation codes
entered during telephone
confirmation 263
generated during Internet
INDEX
confirmation 262
confirmation of company files
automatic confirmation 264
by telephone 263
over the Internet 262
contact log 217
automatic entries 218
contact management 213
See also cards
contra accounts 79
contra payments 79
conversion month 20
Copy From button 138
cost of a stock item
average 140
last 140
cost of sales
account for tracking 25 138
counting stock 146
credit card statements
adding transactions from 55
matching transactions with 55
credit cards
paying 57
recording purchases 57
credit control
credit holds 74
credit limits 73
credit terms 33
finance charges
applying 75
calculating 75
deleting 75
credit limits
password, changing 74
prevent recording sales if customer
exceeds 74
setting 73
warn if customer exceeds 73
credit notes 77
credit terms
changing
for a purchase 84
for a sale 62
changing when recording a
purchase 84
default for sales 33
setting for all purchases from a
supplier 82
setting for all sales to a
customer 60
creditors
accrual account
linking for items received
without purchase 88
paying 94
reconciling accounts at
month-end 245
year-end 245
Currencies List window 154
currency
accounts 154
calculator 157
new 154
See also multiple currencies
currency calculator 157
Currency Information
window 154
Credit Limit & Hold window 73
current financial year 20
Credit Limit Override Password
window 74
custom fields
recording card details using 227
recording item details using 151
152
INDEX
cards, creating 59 171
credit holds 74
credit limits 73
credit terms 33
credits
deleting 183
issuing 76
recording 76
settling 77
discounts
for early payment 71
volume 62
invoices
entering 61
payments for 49 70
payments from 49 70
quoting 61
setting billing rates for 127
who are also suppliers 79
custom forms
adding graphics and logos 211
custom cheques 207
data fields 210
drawing lines on 211
drawing rectangles on 211
elements of 212
page properties, setting 208
previewing 208
printing 209
removing elements 211
resizing elements 212
saving 208
setting up page properties 208
size of 208
specifying form size 208
tool palette 209
custom lists
creating 220
filtering stock reports with 152
grouping items with 151
printing on purchases and
invoices 152
custom price levels 150
assigning to a customer 151
customer credits
deleting 183
issuing 76
recording 76
settling 77
customer payments 70
discount for early payment 71
group with undeposited funds 71
See also receiving payments
customer statements
emailing 249
printing 203 249
sending at month-end 249
customers
assigning a price level to 151
billing rates for 127
D
data
exporting
to accountants 252
to other applications 271
importing
from accountants 253
from other applications 272
from RetailBasics 273
limiting access to. See user
accounts
purging 265
data fields
adding to a form 210
changing font characteristics 210
changing size of 212
font characteristics 210
resizing 212
dates, entry with calendar 13
295
debtors
payments 70
reconciling accounts at
month-end 245
reconciling accounts at
year-end 245
Edit Accounts window 26
Edit Recurring Schedule
window 186
Deduction Information
window 103
e-filing
P14/P60 tax forms 255
P35 tax forms 255
deductions
definition 100
payroll categories
changing 103
creating 100
deleting 174
emailing
invoices 64
purchase forms 86
reports 192
sales forms 64
statements 249
deleting transactions 183
employees
activity slips
including in pay 112
analysing payroll 124
bank details 108
billing rates, setting 127
bonuses 111
cards 105
cash payments 115
cheque payments 116
commissions 111
electronic payments
changing bank details for
current pay 115
entering bank details 108
holiday pay
recording 113
hours worked
entering 113
pay details
editing 112
pay history
entering 35
paying 110 –118
payment method 108
payroll information
analysing 124
reviewing 123
deposits
recording 45
in the Bank Register window 49
saving as recurring 45
depreciation
accounts for 250
recording 250
detail
accounts 25
discounts
early payment discounts
giving 71
receiving 95
reversing customer payments
with 184
volume discounts
giving 62
receiving 85
E
early payment discounts 71
EC Purchases 169
296
EC Sales 166
setting up 110
payroll liabilities
clearing 119
paying 119
reviewing 124
printing paycheques and sending
payments 115
recurring pay
entering 106
sales history for 69
setting billing rates for 127
sick pay
recording 113
terminating 120
time billing information
including in employee
pays 112
exchange accounts for tracking
foreign transactions 155
exchange rates 157
expense accounts 25
Export Data window 271
Export Summary Window 223
exporting data
to accountants 252
to other applications 271
to Outlook 222
See also synchronising cards and
Outlook contacts
Employer Expense Information
window 104
F
employer expenses
definition 100
payroll categories
changing 101
creating 100
deleting 174
faxing
purchase forms 87
reports 192
sales forms 64
End of Year Tax Forms
Assistant 255
end-of-month. See month-end
Entitlement Information
window 102
entitlements
linked wages category 102
payroll categories
changing 102
creating 100
deleting 174
errors, checking for in company
file 245 264
Excel, viewing MYOB reports
in 193
file locking 267
multi-user mode 267
single-user mode 268
to protect your data 268
finance charges
customer
calculating 75
charging 75
deleting 75
supplier
paying 95
using to track late payment 98
financial year
budgets for 237
closing 251
end-of-year tasks 251
starting a new year 254
INDEX
Find Transactions menu (command
centres) 13
H
Find Transactions window 180
importing statements
file formats supported 55
Get Statement button 55
matching transactions 55
online banking 55
finding
records 172
transactions 179–183
half-yearly budgets 239
header
accounts 25
finished item 143
inactivating records not used
frequently 174
headers, using to group line items
in transactions 64 87
international transactions. See
multiple currencies
host computer
system requirements
Windows 278
See also workstations
Internet banking
importing statements 55
HTML format, saving reports
in 192
import log file 273
invoices
customising 206
emailing 64
entering 61
faxing 64
inserting blank lines in 64
line items, entering 62
overdue invoices, list of 69
printing 203
custom lists of 152
in a batch 203
recurring 64
subtotal, adding 64
time billing invoices, creating 134
using headers to group line items
on 64
Import Summary window 226
Item Information window 138
importing data
from accountants 253
from MYOB RetailBasics 273
from other applications 272
from Outlook 225
See also synchronising cards and
Outlook contacts
items
adding 138
adjusting quantities and
values 140
asset account for tracking value
of 138
assigning VAT codes to 139 164
auto-building 144
average cost 140
base selling price 140
changing prices of 149
counting 146
fonts
changing on forms 210
changing on reports 197
default 209
foreign currency
adding a new currency 154
changing 173
deleting 175
See also multiple currencies
foreign purchases. See multiple
currencies
foreign sales. See multiple currencies
forms
adding fields to 210
batch 203
customising 206
emailing 203
faxing 203
finding 202
printing 203
G
general journal. See nominal journal
Getting Started guide 9
graphics
adding to forms 211
changing size of on forms 212
See also pictures
INDEX
I
Identifiers, using to group
cards 219
Import and Export Options
window 222 225
import file formats, for importing
statements 55
inventory. See stock, items
creating 138
custom lists to group 151
default location 140
default supplier number 139
deleting 175
expense account for tracking
cost 138
exporting 271
finding 172
finished item, defined 143
I Buy this Item option 137
I Sell this Item option 138
I Stock this Item option 138
importing 272
including on time billing
invoices 126
last cost 140
locations 142
moving between locations 143
negative on-hand quantities 65
number per selling unit 140
opening quantities and values
entering 40
price levels
changing 149
setting custom 150
purchase history, viewing 93 149
receiving without a purchase 88
sales history, viewing 69 149
setting up 137
standard cost 139
time billing invoices, including
on 126
transferring 143
using custom fields for recording
details of 151 152
items received
setting up accrual account for 88
Items Register window
finding transactions using 181
297
J
L
jobs
assigning to
payroll categories 114
purchases 85
Receive Money transactions 44
sales 62
Spend Money transactions 48
budget amounts, entering 235
changing 173
creating 233
deleting 175
detail jobs 233
exporting 271
finding 172
header jobs 233
importing 272
job-tracking tasks 233
opening balances, entering 234
setting up 231 233
sub-jobs 233
using jobs to track income and
expenses 231
last cost of an item 140
journal entries
creating recurring transactions
for 185
exporting 252 271
finding 179
importing 272
from accountants 253
listing for
purchases 92
recapping transactions for 48 64
86 185
recording 253
298
layout
choosing for a
purchase 84
sale 62
See also customising forms
deleting 175
inactivating 174
moving items between 143
lock file problems 266 268
locking periods 251
logos
adding to forms 211
changing size on forms 212
See also pictures
learning tools 9
leave payments 113
letters
mail merge 214
personalised 214
liabilities
accounts for tracking 24
licences, obtaining extra
workstation seats 259
line items on transactions
entering for purchases 84
entering for sales 62
inserting blank lines between 64
87
showing subtotal of 64 87
using headers to group 64 87
lines
change the width on forms 211
drawing on forms 211
lists
adding records to 171
deleting records from 174
inactivating records in 174
locations, stock
adding 142
changing 173
creating 142
default, changing 142
M
Mail Merge button 69
mailing labels
customising 206
mailing labels, printing 203 216
Match Transaction window 55
Microsoft Outlook contacts.
See synchronising cards and
Outlook contacts
Microsoft Windows
Vista
access a shared folder on 282
restricted access to the Program
Files folder 21
share a folder on 279
minimum stock levels 139
money
See receiving money
See spending money
month-end
accuracy of records, checking 240
entering budgets 237
locking periods 251
reconciling bank accounts 248
recording depreciation 250
reviewing reports 248
running the Company Data
Auditor 240 244–248
sending customer statements 249
monthly budgets 239
mouse shortcuts 15
multiple currencies
’I Deal in Multiple Currencies’
preference 154
accounts for tracking foreign
purchases 155
accounts for tracking foreign
sales 155
adding a new foreign
currency 154
currency calculator 157
depositing foreign currencies 160
exchange accounts 155
exchange rates 157
setting up 154
tracking realised currency
gains/losses 158
transferring funds to foreign
account 160
multiple locations 142
multi-user mode
company file sharing
Windows 277
file locking 267
problems 268
improving performance 270
obtaining additional licences 259
refreshing displayed data 270
See also network, single-user mode
MYOB Help 10
MYOB Merchant Account Service
(MMAS)
receiving payments 71
MYOB RetailBasics
importing from 273
INDEX
N
O
navigation shortcuts 12
OfficeLink
collection letters, creating 69
creating personalised letters 214
network
company file located in a shared
folder
Windows 277
Windows 2000 Professional or
XP 279
Windows 2000 Standard 280
Windows Vista 279
file locking
multi-user mode 267
single-user mode 268
hardware required
Windows 278
how preferences work on 267
improving performance 270
shared company files
factors affecting how they
work 267
shared public folder
accessing from
workstations 282
setting up, Windows 282
storing custom reports on 270
system requirements
Windows 278
New Time Billing window 135
new year
starting a new financial year 254
starting a new payroll year 256
nominal journal entries 253
creating recurring transactions
for 185
exporting 271
importing 272
See also journal entries
INDEX
online banking, importing
statements 55
opening balances
items 40
jobs 234
optimising company files 265
orders
converting one
to a purchase invoice 91
to a sales invoice 68
converting several simultaneously
to purchase invoices 92
to sales invoices 68
purchase orders, entering 83
receiving 61
sales orders, entering 61
sending 83
P35 tax forms
amending 255
e-filing 255
preparing & submitting 255
packing slips
customising 206
passwords. See Administrator
account; user accounts
Pay Employee window 112 113
pay slips
customising 206
emailing 118
printing 118
pay suppliers
sending remittance advice 95
Pay Suppliers window 94
payables, analysing 93
paycheques
printing 116 203
See also payroll
PAYE Income Tax
paying 250
Outlook contacts.
See synchronising cards and
Outlook contacts
PAYG Withholding
tax tables
loading 35
overdue invoices
creating collection letters using
OfficeLink 69
viewing list of 69
See also credit terms
paying employees 110 –118
P
P14/P60 tax forms
amending 255
e-filing 255
preparing & submitting 255
payment method
default
customer 33
payment method default
employee 108
payments
exporting 271
importing 272
making 47 94
receiving 43 49 70
recurring 185
payroll
activity slips
creating 130
including in employee
pays 112
analysing 124
automatically adjusting base pay
details for leave 101
categories 100 –104
entitlement balances 124
pay slips
emailing 118
printing 118
printing paycheques 116
setting up 35 99
using the Payroll Easy Setup
Assistant 35
taxes 100
loading tax tables 35
timesheets
changing details during pay
run 112
entering employee hours 109
excluding from a pay run 112
payroll categories
base hourly
adjusting 113
automatically adjusting for leave
payments 101
base salary
adjusting 113
automatically adjusting for leave
payments 101
calculated value 107
changing 101–104
creating 100–104
deleting 175
entitlement
creating 100
linked wages category 102
finding 172
reviewing 35
299
Payroll Category List window 100
Payroll Details tab 105
payroll liabilities
clearing 119
paying 119
reconciling at month-end 247
reconciling at year-end 247
reviewing 124
Payroll Liabilities window 119
payroll taxes
paying 250
payroll year
starting a new year 256
when to close 243
year-end tasks 254
PDF. See Portable Document Format
(PDF) file
pending purchases. See purchases
pending sales. See sales
periods
closing 251
locking 244 251
personalised letters
creating 214
printing 203
petty cash accounts
allocating expenses to 51
expenses, tracking 51
transferring money to 51
pictures
adding to
cards 228
forms 211
changing the size of on forms 212
removing 228
replacing 228
Portable Document Format (PDF)
file 192
saving purchases as 87
saving sales as 64
preferences
Allow the sale of items with
insufficient on hand
quantities 65
Apply Customer Payments
Automatically to Oldest
Invoice First 78
how they work on a network 267
I Deal in Multiple Currencies 29
I Prefer to Use Automated Online
Company File
Confirmation 22
I use MYOB RetailBasics 274
I Use Timesheets for ... and My
Week Starts on ... 108
If Credit Limit is Exceeded on
Sale 74
Prevent Data Changes During
Report Generation 269
system-wide preferences 267
time billing 126
Transactions CAN’T be Changed;
They Must be Reversed 29
184
Use Audit Trail Tracking 29
Prepare Bank Deposit
window 184
Prepare Budgets window 238
price levels
assigning to customer 151
creating custom 150
setting 149
prices
average cost of an item 140
last cost of an item 140
quantity breaks 151
standard cost of an item 140
printing
checks 95
cheques 48
customer statements 249
forms 203
invoices 64 86
in a batch 204
purchases 86
in a batch 204
receipts 72
statement reports 193
year-end reports 255
problems 10
Process Payments window 115
processing termination
payments 120
public folder. See network
purchase forms
emailing 86
faxing 87
purchase orders
creating from a sale 90
entering 83
purchases
applying a supplier debit to an
unpaid purchase 97
assigning a VAT code to a
purchase 85
assigning job to 85
changing credit terms when
recording 84
changing status of 91
choosing type of 84
credit terms, entering 84
debits, creating 96
deleting 183
emailing purchase forms
in a batch 203
individually 86
entering 83
entering additional
information 86
exporting 271
faxing 87
finding a transaction 180
from overseas suppliers. See
multiple currencies
headers, adding 87
history, viewing 93
importing 272
inserting blank lines in 87
line items on, entering 84
making payment
using the Bank Register
window 49
orders 83
paying 94
several at once 95
printing 203
custom lists of 152
in a batch 203
order forms 203
purchase activity, viewing 180
quotes 83
receiving items without a bill 88
recording 83
in the Bank Register window 49
recurring 87
remittance advice 48
reports 93
reversing 96
reviewing purchase
information 92
saving as a PDF file 87
sending 203
subtotals, adding 87
unpaid purchases, viewing 92
148
using headers to group line
items 87
Purchases Register window 180
Purchases window 83 87
purging information 265
300
INDEX
Q
quantity breaks, for stock 151
quarterly budgets 239
quotes
converting to orders or
invoices 67
converting to orders or
purchases 91
customer 61
supplier 83
R
rates, setting time billing 127
realised gains and losses, tracking
sales and purchases 158
transfers 159
recapping transactions 48 64 86
185
receipts, printing 72
Receive Money window 44
Receive Payments window 71
receiving money 43
cash payments 43
cheque payments 43
credit card payments 43
customer payments 70
definition of 43
exporting transactions 271
grouping with undeposited
funds 44 71
importing transactions 272
invoice payments 71
recording receipts 43
See also receiving payments
INDEX
receiving payments 70
customer payments 71
grouping with undeposited funds
cash transactions 44 71
credit card 71
MMAS credit card 71
importing transactions 272
invoice payments 71
recording in the Bank Register
window 49
See also receiving money
reconciled transactions,
deleting 184
reconciling
accounts 55
bank accounts 52
for the first time 36
creditor accounts 245
debtor accounts 245
out-of-balance amounts,
correcting 53
Record Journal Entry window
entering adjustments 253
records
active 174
adding 171
using Easy-Add 172
changing 173
deleting 183
inactivating or reactivating 174
inactive 174
removing 183
rectangles, drawing on forms 211
recurring pay 106
changing 107
recurring transactions 185 –189
automatically recording 186
changing 187
cheques 48
creating 185
faxing 192
filtering information appearing
on 195
printing 191
when several users active 269
purchase reports 93
reviewing at month-end 248
sales reports 69
saving as
comma-separated values (CSV)
files 192
HTML files 192
PDF files 192
simple text files 192
tab-delimited values files 192
sending 192
storing custom reports on
network 270
using custom lists as filters 152
viewing in Microsoft Excel 193
creating from an existing
entry 187
deleting 188
deposits 45
editing 187
purchases 87
recording
multiple 188
single 188
rescheduling 188
responding to reminders for 189
sales 64
scheduling payments 186
setting reminders for 186
setting up 185
refreshing lists in a multi-user
environment 270
refund cheque, receiving 98
refund payments 78
refunds. See customer credits;
supplier debits
Reports menu (command
centres) 13
registration. See activation of
company files
restoring a backup 259
reimbursable expenses
tracking 235
RetailBasics
importing from 273
Reminders window 189
returns. See customer credits;
supplier debits
remittance advices
customising 206
Review Sales Before Printing
window 204 205
reports
batches
changing 194
creating 193
deleting 194
printing 194
columns, moving and
resizing 191
custom reports 198
storing on a network 270
customising 195
designing 196
emailing 192
rounding time, in time billing 126
S
sales
analysing sales activity 69
assigning a VAT code to a sale 62
batch printing 203
changing status of 67
301
choosing type of 62
creating a purchase order 64
deleting 183
emailing 64
in a batch 203
entering 61
exporting 271
faxing 64
history, viewing for item, customer
or employee 69
importing 272
income account for tracking
sales 138
insufficient on-hand item
quantities 65
invoice 61
layout 62
order 61
printing 64 86
in a batch 203
quote 61
recording in the Bank Register
window 49
recurring 64
reports 69
reversing 76
reviewing information about 68
saving as a PDF file 64
to overseas customers. See multiple
currencies
unpaid sales, viewing 69
Sales Register window
finding transactions using 180
viewing and editing sales in 180
Sales window 61 64
search icons 14
seats, obtaining extra licences 259
Select & Edit Employee’s Pay
window 112
select columns 15
Select Pay Period 111
302
Selected Pay Frequency & Time
window 121
Set Item Prices window 149
Settle Returns & Credits
window 78
Settle Returns & Debits
window 98
shared public folder. See network
shortcuts to the company file 283
single-user mode
file locking 268
when required 268
See also multi-user mode
Spend Money window 47
insufficient quantities on-hand 65
locations 142
moving between locations 143
multiple locations 142
negative on-hand quantities 65
opening cost values
entering 40
opening quantity values
entering 40
prices, setting 149
quantity breaks 151
receiving items without a
purchase 88
reconciling at year-end 146 252
recording 146
transferring 143
spending money 46 94
exporting transactions 271
importing transactions 272
sending remittance advice 48
Stock Count Sheet 146
printing 146
Split button 50
standard cost 139
stock movements
recording 143
starting a new financial year 251
sub-jobs 233
starting a new payroll year 254
subpasswords. See user accounts
statements
customising 206
emailing 249
importing 55
printing reports 193
reconciling
out-of-balance amounts,
correcting 53
subtotals
showing in
purchase transactions 87
sales transactions 64
stock
adjusting 140
average cost of an item 140
changing prices of 149
counting 146
custom fields 151 152
custom lists and reports 151 152
custom price levels
setting up 150
stock count sheets
printing 40
supplier debits
creating 97
deleting 183
recording 96
refund cheques 98
settling 97
credit terms, changing when
recording purchase 84
debits
creating 96
deleting 183
recording 96
refund cheques 98
settling 97
discounts
receiving for early payment 95
volume 85
paying 46 94
using the Bank Register
window 49
recording orders received
from 83
recording purchases from 83
recording quotes received
from 83
setting billing rates for 127
who are also customers 79
Synchronise Cards window 222
synchronising cards and Outlook
contacts
export cards to Outlook
contacts 222
import Outlook contacts to
cards 224
including custom fields 221 223
when you use a PDA 222 223
system requirements
host computer
Windows 278
network
Windows 278
suppliers
billing rates, setting 127
cards
creating 34
cards, creating 81
credit terms, changing for a
purchase 84
INDEX
T
tabs, using to find records in
lists 172
tax codes. See VAT codes
tax tables
loading 35
terminating an individual’s
employment 120
text fields
adding to forms 210
changing font characteristics
of 210
changing size of on forms 212
description of 207
thirteen accounting periods 20
time billing
activities
creating 128
defining 128
deleting 175
finding 172
activity slips
creating 130
including in employee
pays 112
multiple 132
single 130
adjusting accounts to reflect work
in progress 136
changing 173
entering a start time before current
system time 132
including items on invoices 126
invoices
creating 134
creating in the Sales
window 135
including items on 126
preferences 126
INDEX
resetting timer 132
rounding time 126
setting billing rates for
activities 127
setting preferences 126
timer 131–132
using special billing units 126
work in progress 136
timesheets
changing details during pay
run 112
employee hours
entering 109
entering details 109
excluding from a pay run 112
report 112
setting up 108
time billing information
entering 108
unpaid hours
clearing 110
deleting 110
reporting 112
from bank or credit card
statement 55
Pay Suppliers transactions 272
making changes to 183
matching during statement
importing 55
recapping 48 64 86 185
recurring 185 –189
reversing 184
types that can be imported 272
unchangeable 183 184
Transactions CAN’T be Changed;
They Must be Reversed
preference 183 184
Use Recurring button 188
user accounts
creating 258
listing active users 268
managing 257
maximum licensed number
reached 269
passwords 258
purpose of 257
restricting access to windows and
functions 258
See also administrator account
user IDs. See user accounts
Transfer Money window 50
transferring
money between accounts 50
stock 143
troubleshooting 10
V
To Do List
making supplier payments
from 92
viewing purchases 92
U
To Do List menu (command
centres) 13
unchangeable transactions 183
184
tool palette 207 209
uncleared transactions,
matching 55
VAT
accounting method
accrual 165
cash 165
change amount assigned to
purchases 86
receive money transaction 44
sales 63
spend money transaction 48
EC Purchases 169
EC Sales 166
reports 165
undeposited funds
deleting transactions 184
grouping
cash transactions with 71
payments 71
grouping account transactions
with 44
grouping payments 44
preparing bank deposit of 45
VAT codes
adding 163
assigning to
accounts 164
cards 164
items 139 164
purchases 85
sales 62
changing 173
Transaction Journal window 182
transactions
adding from bank or credit card
statement 55
changing 183
create recurring 185
create recurring from an existing
entry 187
deleting 183
finding 13 179–183
identifying user who entered 257
importing 272
troubleshooting problems 10
Undo Last Reconciliation
window 54
303
creating 163
importing 272
setting up 163
verify company file 245 264
View Contact Log window 217
void cheque 56
volume discounts
giving 62
receiving 85
Wages Information window 101
providing information to your
accountant 252
reconciling accounts 245
reconciling stock 146 252
starting a new year 254
payroll
e-filing tax forms 255
P14/P60 forms, amending 255
P14/P60 forms, preparing &
submitting 255
P35 forms, amending 255
P35 forms, preparing &
submitting 255
printing reports 255
tasks 254
Widgets Ltd., sample company
file 11
work in progress
adjusting accounts to reflect 136
tracking 136
workstations
accessing shared company file
folder 282
obtaining extra licences 259
See also host computer, network
W
wages
definition 100
payroll categories
changing 101
creating 101
deleting 175
See also payroll
304
Y
year-end tasks
adjustments in 13th period 20
year
starting a new financial year 254
starting a new payroll year 256
yearly budgets 239
year-end
entering budgets 237
financial
adjustments, entering 253
optimising company file 254
Z
zoom arrows 14
INDEX
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