Welcome to Bookkeeping

This is your introduction to

MYOB v19 Accounting.

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Learning by Doing…Computer accounting is learned by doing graded

exercises.Each exercise in this series is either slightly

longer or slightly more complicated than the one before it.

You learn to use MYOB bit by bit.Each start-up file is set in a particular time, so

before starting MYOB you must set the computer date. (This is optional)

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MYOB Welcome Screen

Click

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Opening the Data File

(You don’t need a password)Click

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The MYOB ScreenThe Top Menu Bar

•Setup the Company.

•Make changes to the accounts.

•Access Operating Preferences.

•Get On-screen Help.

•Exit MYOB.

It is used to...

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Personalize the Company Name

Click

Click

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Add Your Name

Here

Click

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The MYOB ScreenThe Command Centre

Modules

Activity

Management

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Recording a PurchaseImportant Points

A Purchase is obtaining goods for re-sale.Purchases are obtained from Suppliers.Amounts owed to these suppliers are called

Accounts Payable.Purchases are recorded on Invoices, so click

Enter Purchases in the Command Centre.

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View an InvoiceChange the invoice layout.

Click

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The Invoice TypesUsed for different purposes.

Used to record interest payable.Used to record

things purchased.

Used to record professional services.

Used to record adjustments.

(Change to an Item invoice and click OK)

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The Purchases Item InvoiceProcedure

Select the Supplier.Insert date and invoice number details.Insert the number of items received.Select the item reference number.Insert the price (per item OR the total).Check the details are correct.Click Record.

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The Item InvoiceExercise 2.1

Click

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ReportsImportant Points

Reports are used to: Give financial information. Check your work for accuracy. Make error location easy. Make error correction easy.

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The Journale.g. The first transaction

Click herefor details

The ZoomArrow

A click on the Zoom Arrow will display the original invoice.

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ReturnsProcedure

Record the return. Create an adjustment note

(a negative invoice) for the goods being returned.

Make sure the tax code still shows GST.

Check that the figures for the goods being returned and the GST all appear as negatives.

Reduce the debt. Purchases Register. Click Settle Returns &

Debits. Click Apply to Purchase. Locate the invoice that

recorded the original purchase.

Click Amount Applied then Record.

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An Adjustment NoteA Negative Invoice - Exercise 2.4

Insert the details, click OK, then Cancel.

Minus

Click

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Reduce the DebtSettle Returns & Debits - Exercise 2.4

Insert

Click

Click

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Payments to SuppliersProcedure

Click Pay Bills in the Purchases window of the Command Centre.

Select the supplier.Insert the date and amount of the payment.Apply the payment to the invoice (or invoices)

being paid.Record.

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Paying a SupplierExercise 2.7

Note

Insert

ClickClick

Click

Always check the dates to pay the correct invoices.

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A Purchase AllowanceImportant Points

A purchase allowance: Reduces the cost of goods already purchased. Reduces the value of inventory. Reduces the GST component of the purchase.

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A Purchase AllowanceProcedure - Exercise 2.9

Display a purchase invoice.Change the Layout to Miscellaneous.Insert supplier, date and reference.Insert the reason for the reduction in price.Use 1-1300 Inventory as the account.Insert the allowance as a MINUS amount.Record.

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A Purchase AllowanceExercise 2.9

Note

Note

Minus

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Receiving a DiscountImportant Points

A prompt payment discount reduces the cost of the goods purchased.

A reduced purchase price means less GST paid on the purchase.

When you record the payment with a discount MYOB automatically produces an adjustment note (called a debit memo) for the discount and the GST.

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The Payment with DiscountExercise 2.10

Insert

ClickNote

Click

Always check the date.

Pay the correct invoice. Insert

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Cash PurchasesImportant Points

A Cash Purchase is an ordinary purchase that is paid for at the time of purchase.

Not all businesses allow you to buy on credit and pay later.

A one-off purchase does not warrant setting up a credit facility.

Some businesses offer good discounts for immediate payment.

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Cash PurchasesProcedure

If the purchase is NOT an inventory item, change to a Miscellaneous invoice.

Insert the date and cheque number.Enter a description of the purchase.Select 1-1300 (Inventory) as the account.Click in the Paid Today field and insert the

amount of the payment.Record. MYOB will write the cheque.

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Change PreferencesExercise 2.11

If your screen does not display an Acct# column as seen in the MYOB User’s Guide, click… Setup (top menu bar). Preferences (from the menu). Windows (tab at the top). Select and Display… (the fourth item). Remove the tick from the fourth item. Close.

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Change PreferencesChange PreferencesExercise 2.11Exercise 2.11

Click

Click

Remove the tick from the fourth item.

Click