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MYOB Data Import Procedure

This document outlines the procedure for importing a client's MYOB data into the ABC Pty Ltd accounting system. It involves extracting the MYOB backup files from the client, reviewing the data for accuracy by reconciling key accounts, and preparing the financial data from MYOB into Excel spreadsheets coded according to the firm's chart of accounts. The Excel files are then inputted into the firm's HandiLedger system to complete the data import.

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Anonymous 7mJIoO1bh4
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112 views

MYOB Data Import Procedure

This document outlines the procedure for importing a client's MYOB data into the ABC Pty Ltd accounting system. It involves extracting the MYOB backup files from the client, reviewing the data for accuracy by reconciling key accounts, and preparing the financial data from MYOB into Excel spreadsheets coded according to the firm's chart of accounts. The Excel files are then inputted into the firm's HandiLedger system to complete the data import.

Uploaded by

Anonymous 7mJIoO1bh4
Copyright
© © All Rights Reserved
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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ABC Pty Ltd

*SAMPLE ONLY*

MYOB DATA IMPORT PROCEDURE


Purpose
When receiving MYOB Data from Client

WHO IS RESPONSIBLE:

Client Managers

Support Staff

WHEN IS THIS NECESSARY:


As required

Procedure
(This has been based on MYOB V12 Please Note in Prior Versions Report Names may vary
slightly)
1.

Extract Backup Files that client has sent us (see How To Access Client Data Files).

2.

Prior to commencing any work, ensure that prior year closing balances agree with HandiLedger
closing balances. If these do not agree, prepare the necessary journals to bring these up to date.
Once these agree, proceed as follows:-

3.

Review Data File and check for the following:

Bank Account has been reconciled, where possible obtaining a print-out together
with Copy of the Bank Statement at Year End/Period.

Aged Receivables (Trade Debtors) Trial Balance reconciles to Trade Debtors


General Ledger Account. To do this ensure you print the Aged Receivables (Reconciliation
Summary)

Aged Payables (Trade Creditors) Trial Balance reconciles to Trade


Creditors General Ledger Account. To do this ensure you print the Aged Payables
(Reconciliation Summary)

Inventory Trial Balance reconciles to Stock on Hand General Ledger Account. To


do this prints the Items List (Summary). Check if manual stock take records exist. Verify item
count in MYOB

GST Paid and GST Received Reconciles to General Ledger Accounts. To do this
ensure you print the GST Summary and Select applicable report, Cash or Accrual
Accruals Basis should agree to General Ledger.

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Cash Basis should agree to General Ledger accounts after adjusting for GST on Trade
Creditors and Trade Debtors respectively.

Payroll Reports reconciles to Salaries and Wages General Ledger Account,


together with reconciling PAYG Withholding and Superannuation Outstanding for the year/period.
Check if client has generated PAYG Summaries in MYOB or if they have been prepared
manually. Reconcile payment summaries to ledger accounts.

If discrepancies are identified in above items are substantial, contact the client prior to
proceeding, giving them the option of reconciling these items or requesting the firm to attend
to what may be time-consuming reconciliations. Review minor discrepancies with client
manager.
4.

When all above items have been checked proceed to enter data into HandiLedger.

PREPARING DATA FOR TRANSFER INTO HANDILEDGER


After preliminary checking of MYOB data as above proceeds as follows:-

Option 1
Commence reviewing income, expenses and other entries to identify any entries requiring additional
information or further analysis.
Journals are to be done in the MYOB Data File prior to transferring to HandiLedger, proceed to prepare
and enter adjusting entries in the MYOB data file
Complete Checklist using MYOB Data File. Prepare to transfer data into HandiLedger.
Any further general journal entries required after transfer to HandiLedger are also to be entered into
MYOB data file. Copies of these MYOB General Journals are to be sent to client to update their data
file.

Option 2
Commence reviewing income, expenses and other entries to identify any entries requiring additional
information or further analysis. Prepare to transfer data into HandiLedger.
All General Journal entries to be prepared in HandiLedger. Details of these journal entries to be
provided to client to update their MYOB data file.

PROCEDURE TO TRANSFER DATA INTO HANDILEDGER


After finalising preferred option, proceed as follows:1. Profit and Loss Data

Generate a Profit and Loss Report (After Customizing Dates and including MYOB
Codes) and export to Excel Spreadsheet.

Format Report to eliminate sub-totals. Check that Debit and Credit Accounts have
been identified. Check formulas and where necessary perform Auto Calculations
(Tools, Options, Calculations, Automatic)

Check that Net Profit/Loss is correct.


HandiLedger codes can be inserted after creating an additional column and code
according to clients codes.

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2. Balance Sheet Data

Generate a Balance Sheet Analysis Report (After Customizing Dates and


including MYOB Codes) and export to Excel Spreadsheet. Delete Percentage column.

Format Report to eliminate sub-totals. Check that Debit and Credit Accounts have
been identified. Check formulas and where necessary perform Auto Calculations
(Tools, Options, Calculations, Automatic)

Check that Current Earnings agrees with Profit and Loss Account
HandiLedger codes can be inserted after creating an additional column and code
according to clients codes.

3. Prepare a list of queries/outstanding items/further information required, which is to be followed up


with client.
4. When above Excel Spreadsheets have been completed Reconciled and Coded, then proceed to
input into HandiLedger. Once HandiLedger is updated, you may wish to proceed with finalization of
checklist, Working Papers and Reconciliations.

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