This step-by-step book arms you with the knowledge you need to navigate your way through MYOB and will free up your time to focus on your business.
288 pages RRP $29.95
To demonstrate how thorough this book is, here is are the chapter outlines;
Day 1 of Learn MYOB in 7 Days – Accounts Command Centre and Card File Centre
- How to install MYOB AccountRight software
- Working through the Company File Assistant
- Orientation of the MYOB AccountRight screen
- Exploring the Menu Bar
- Exploring the Command Centre and flowcharts
- Introduction to the different Command Centres
- Exploring Preference options in MYOB AccountRight
- Introduction to Tax Codes
- Creating, editing and deleting a Tax Code
- Introduction to chart of accounts
- How to set up a chart of accounts
- Exploring a general ledger account
- Creating, editing and deleting a general ledger account
- Explaining clearing accounts
- Exploring the Card File Command Centre
- Setting up Customer Cards
- Setting up a Supplier Card
- Deleting, combing, marking cards inactive
- Exiting MYOB
Day 2 of Learn MYOB in 7 Days – The Banking Command Centre.
- Cash vs accrual based accounting
- Linked accounts
- Sample of end of year journal entry
- General ledger accounts
- Bank Register Transaction journal
- How debits and credits apply to different types of accounts
- Creating a spend money entry
- Creating a recurring transaction
- How to receive money
- How to use the Undeposited Funds account and preparing bank deposit
- How to prepare electronic payments
- How to print cheques
- Printing or emailing remittance advice
- How to do a Bank Reconciliations
- Resolving issues with a Bank Reconciliation
- What is an audit trail and why is it important
- Use the owner’s loan account to monitor the owner’s spending
- How to account for business and personal spending in a Spend Money transaction
Day 3 of Learn MYOB in 7 Days – Sales Command Centre
- Explore the Sales Command Centre
- Linked Accounts
- Explaining different types of Sales
- Exploring different Sales layouts
- Exploring the Sales Register and Transaction Journal
- Entering different types of sales
- Receiving payments
- Processing a bad debt
- Reconciling sales
- Invoice Statements and Activity Statements
- Analysing receivables and managing debtors
- Tips to ensure that you are paid on time
- Credit applications and terms of engagement
Day 4 of Learn MYOB in 7 Days – The Purchase Command Centre
- Explore the Purchase Command Centre
- Linked Accounts
- Explore different purchase types
- Explore different purchase layouts
- Exploring the Purchase Register and Transaction Journal
- Creating a service quote
- Creating a purchase quote
- Entering a bill
- Converting a quote to a bill
- Paying bills by various payment methods
- Printing / emailing a remittance advice
- Reconciling purchases
- Analysing payables
- Keeping your business expenditures under control
Day 5 of Learn MYOB in 7 Days – The Inventory Command Centre.
- The difference between the accounting concepts of Periodic and Perpetual inventory
- How to create an item in MYOB AccountRight; working through the Profile, Item Details, Buying Details, Selling Details, History, Auto-Build and Locations tabs.
- The importance of Naming and Numbering conventions
- How to enter Inventory Purchases, and explains the journal entries behind them.
- How to record the delivery of goods received.
- How to enter Inventory Sales, and explains the journal entries behind them.
- How to set Item Prices
- The concept of Auto-Building an item
- 7 Steps for a successful stocktake
- How to adjusting inventory
- The chapter includes numerous exercises to practise what you have learnt
Day 6 of Learn MYOB in 7 Days – The Payroll Command Centre
- Exploring the Payroll Command Centre
- Setting up payroll
- Exploring payroll categories
- Set-up entitlements
- Payroll linked accounts
- Setting up Employee cards
- Processing payroll
- Customising pay slips
- Processing annual and personal leave
- Review of the process payroll
Day 7 of Learn MYOB in 7 Days – The Wrap
- Using the Command panel
- To Do List
- Find Transactions
- Business Insights
- Using the Company Data Auditor
- Setting up and using the BASLink
- Financial year versus payroll year
- Tips for keeping your accounts in good order
- Bonus Resources found online include; End of Financial Year checklist, Financial Year Rollover Checklist, and a checklist of what to send to your accountant.
If you would like to see more detail please let me know.
This book was published in March 2012. There have been updates and changes to MYOB since its release. You will still learn the essentials of how MYOB works with this book, but sometimes a button will be a different colour or in a different spot. I still train classes using this book on a regular basis – and we have minimal issues with the changes.
Updates to Learn MYOB in 7 Days
Page 26 under Security
A button at the top left allows each user to set his or her password. This is no longer the case. You now go to Menu Bar->Setup->User Access to set up user passwords and access options.
Page 65 Exercise 2.1 For clarification purposes, they are all detail accounts.
Page 112 the third paragraph should read ‘Click the Details button to the the “right” of the Payment Method field’
Page 113 – First paragraph under figure 3.15 delete ‘Click Close, and’.
Page 138, the second last paragraph, replace
additional with ‘new and separate’.
Top of page 216, Click OK, click OK to close the Personal Leave Accrual window. Click on Annual Leave Accrual and repeat this exercise.
In the middle of page 226, it should read ‘Typically, a full-time employee is linked to Base Hourly, and Annual Leave Pay and Annual Leave Pay’.
At the top of page 253, it should refer to Instalment Activity Statement rather than Income Activity Statement.