Premier Accounting User Guide

MYOB US, Inc. Website: myob-us.com MYOB Technology Pty Ltd 2006 All rights reserved.
Disclaimer 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, consequential, direct or indirect damages arising from loss of function, profits or 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.

Trademarks MYOB, MYOB AccountEdge, MYOB Premier Accounting, MYOB BusinessBasics, MYOB FirstEdge, MYOB Plus, MYOB ODBC DeveloperPack, MYOB ODBC Direct, AccountEdge, BusinessBasics, ODBC DeveloperPack, ODBC Direct and Small Business. Smart Solutions. are trademarks, registered trademarks or service marks of MYOB Technology Pty Ltd and their use is prohibited without prior written consent. Aatrix is a registered trademark of Aatrix Software, Inc. Adobe, Acrobat, Acrobat Reader, Adobe Reader, PDF and PostScript are trademarks or registered trademarks of Adobe Systems Incorporated. QuickTime and the QuickTime logo are trademarks or registered trademarks of Apple Computer, Inc. registered in the USA and other countries, and used under license. American Express and AmEx are registered trademarks of American Express Company, its subsidiaries and affiliates. Brio Intelligence and Hyperion Intelligence are trademarks or registered trademarks of Hyperion Solutions Corporation. Intuit, Quicken and QuickBooks are registered trademarks of Intuit Inc. Mastercard is a registered trademark of MasterCard International Inc. Microsoft, Access, Entourage, Excel, Internet Explorer, Office, Outlook, Smart Tags, Windows, Windows Server and Word are trademarks or registered trademarks of Microsoft Corporation in the USA or other countries. vCard is a registered trademark of the Internet Mail Consortium. VISA is a registered trademark of Visa International Service Association. Other products and services mentioned may be trademarks, registered trademarks or service marks of their respective owners.

MYOB Premier Accounting 2007 (v16)

MYOB Software License Agreement

This is an agreement (the "Agreement") between you, the end user, and MYOB. "Software" is defined as the MYOB computer program and user documentation that is included with this Agreement and any updates or maintenance releases related thereto. By installing and/or using this Software you agree to become bound by the terms of this agreement. Do not use the Software until you have carefully read this Agreement. Included with the Software is software provided by Aatrix Software, Inc., ("Aatrix Module"). By using the Aatrix Module you also agree to become bound by the terms of the "Aatrix End User License Agreement" provided with the Aatrix Module and further, you agree that your use of the Aatrix Module is limited to a term of one year from the date you register with MYOB to use the Aatrix Module. IF YOU AGREE WITH THE TERMS OF THIS AGREEMENT, CLICK THE "ACCEPT" or "AGREE" BUTTON. IF YOU DO NOT AGREE TO THE TERMS OF THIS AGREEMENT, DO NOT USE THIS SOFTWARE. PROMPTLY REMOVE IT FROM YOUR COMPUTER. You may then return the entire package and your receipt within 30 days to the place from which you obtained the Software for a refund of the purchase price. Until return of this package has been accepted, you are governed by this Agreement. This Software is protected by copyright laws and international treaties and may only be used in accordance with the License terms and conditions. TRIAL VERSION SOFTWARE LIMITATION. If this Software is a trial version it has restrictions on its use and is intended to be used only for evaluation purposes. While you may use the sample data file called "Widgets" to evaluate the Software, you can also create your own company data files ("Company Files") but you may access 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 Software product license. You agree to the restrictions in this paragraph. Upon your purchase of the full version Software product license and acceptance of the terms and conditions of the software license agreement accompanying the full version software product, the restrictions in this paragraph (Trial Version Software Limitation) shall not longer apply, but the remainder of this Software License Agreement shall remain in full force and effect, and in the event there is any conflict between this Agreement and the full version software license agreement, the full version software license agreement shall control. LICENSE. Subject to the terms of this Agreement, MYOB Technology Pty Ltd through its local distributor ('MYOB') grants to you, the original purchaser, a royalty-free, nontransferable (except as specified below), non-exclusive License (the "License") to use the Software in the United States of America, unless otherwise agreed to in writing by MYOB as follows: a. ACTIVATION OF COMPANY FILES. You must register the Product and activate the company files you create or convert and upgrade with the Software. You are entitled to activate up to ten (10) new or converted and upgraded company files. If required, you can obtain additional activations by contacting MYOB US. i) New company files. You may only access each new company file you create for 30 days without registering the Product and activating the company file. After 30 days each new company file will become read-only until you activate it. ii) Converted and upgraded company files. You may only access each company file you convert and upgrade from a prior release of the Product for 30 days without registering the Product and activating the company file. After 30 days each converted and upgraded company file will become read-only

until you activate it. 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 ten (10) company files. If required, you can obtain additional activations by contacting MYOB. b. NUMBER OF USERS. i) Single Site License. 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 event of an upgrade or product exchange the license hereby granted shall automatically transfer to the new version or products. ii) Additional Workstation Licenses. If you purchase Additional Workstation Licenses, 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 license 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 licenses you have purchased. e. COPIES. You may not copy or duplicate the Software or this Trial Version Software and distribute it to others for their evaluation, except as necessary solely for archival purposes, program error verification, or to replace defective storage media. You agree to retain the Software and all such copies in your possession. f. RESTRICTIONS, TRANSFERS. You may not sublicense, lease, rent, lend, distribute or otherwise transfer or assign the Software or any lawful copies thereof, except that you may transfer all of your right and interest in and to the Software, including any upgrades, to a single person or entity ("Transferee"), provided that (i) you either transfer to the Transferee any and all copies you may have made or destroyed said copies upon transfer of the Software, so that you retain no copies, (ii) that you transfer to the Transferee any and all manual(s) which were provided by MYOB pertaining to the Software, (iii) the Transferee agrees to be bound by the terms of the Agreement, and (iv) you notify MYOB in writing of such transfer, and provide the name and address of the Transferee.

User Guide

g. TERM AND TERMINATION. The License is effective until terminated. You may terminate the License at any time by removing the Software from your computer and destroying any copies you have of the Software. The License is automatically terminated if you violate any portion of this Agreement. You agree upon any such termination to destroy the Software together with all copies. Upon termination, there will be no refund of any monies paid by you except in connection with the 30-day return policy set forth above. Termination of this License shall be in addition to and not in lieu of any other remedies available to MYOB. h. PROTECTION AND SECURITY. You agree to use your best endeavors and to take all reasonable steps to safeguard the Software to ensure that no unauthorized person has access to the Product and that there is no unauthorized copying or distribution of the Software or user documentation. CONTINUING FULFILMENT. If MYOB elects, in its sole discretion, to produce subsequent updates and revisions to the Software (collectively, "Updates"), you may receive such Updates as they become available. All Updates are subject to the terms of this License. COPYRIGHT PROTECTION. Except as set forth in "LICENSE" above, you may not copy or use the Software, and any copy that you make as permitted by this Agreement must contain the same copyright and other intellectual property notices that appear on or in the Software. The Software is protected by United States and International copyright or other intellectual property law. ANY USE OF THE SOFTWARE, EXCEPT AS EXPRESSLY PERMITTED IN THIS LICENSE AGREEMENT, MAY SUBJECT YOU TO CIVIL DAMAGES AND LEGAL FEES, AND MAY BE A SERIOUS CRIME. CONFIDENTIALITY. The Software constitutes Confidential Information and contains trade secrets of MYOB. You are not permitted to disclose the Software to any third party except in accordance with this Agreement. You may not reverse engineer, disassemble, or decompile the Software, or otherwise attempt to discover the source code of the Software. TRADEMARKS. Trademarks shall be used in accordance with trademark law, including identification of trademark owners' goods and services. Trademarks can only be used to identify printed output produced by the Software, and such use does not give you any rights of ownership in that trademark. TAX TABLES. YOU ASSUME FULL RESPONSIBILITY FOR THE SELECTION OF THE PAYROLL TAX TABLES AND SALES TAX TABLES ("TAX TABLES") WHETHER PROVIDED BY MYOB OR OTHERS, TO ACHIEVE YOUR INTENDED PURPOSES, FOR THE PROPER INSTALLATION AND USE OF THE TAX TABLES AND FOR VERIFYING THE RESULTS OBTAINED FROM USE OF THE TAX TABLES. MYOB DISCLAIMS ANY WARRANTY OR CONDITION THAT THE FUNCTIONS CONTAINED IN THE TAX TABLES WILL MEET YOUR REQUIREMENTS OR THAT THE TAX TABLES OR THE OPERATION OF THE TAX TABLES WILL BE INTERRUPTION OR ERROR FREE. PROFESSIONAL ADVICE. MYOB IS NOT ENGAGED IN RENDERING LEGAL, ACCOUNTING OR OTHER PROFESSIONAL ADVICE OR SERVICE. IF LEGAL ADVICE OR OTHER EXPERT ASSISTANCE IS REQUIRED, THE SERVICE OF A COMPETENT PROFESSIONAL SHOULD BE SOUGHT. IT IS YOUR RESPONSIBILITY TO KEEP INFORMED OF ACCOUNTING, TAX, AND/OR PAYROLL CHANGES THAT MAY AFFECT YOU AND TO ENSURE THAT YOU FOLLOW THESE CHANGES.

LIMITED WARRANTY AS TO MEDIA. MYOB warrants that the media on which the Software is recorded is free from defects in materials and workmanship under normal use for a period of 30 days from the date of your original purchase. DISCLAIMER OF WARRANTIES EXCEPT AS PROVIDED IN THE FOREGOING PARAGRAPH ("LIMITED WARRANTY AS TO MEDIA"), MYOB DISCLAIMS ANY AND ALL WARRANTIES TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW. THE SOFTWARE AND RELATED MATERIALS ARE PROVIDED "AS IS". MYOB DISCLAIMS ALL WARRANTIES AND CONDITIONS, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR WARRANTIES THAT THE PRODUCT IS FREE OF VIRUSES OR ERRORS OR WARRANTIES OF NON-INFRINGEMENT OF THIRD-PARTY RIGHTS. MYOB DISCLAIMS ANY WARRANTY AS TO THE PERFORMANCE OF THE SOFTWARE OR AS TO THE RESULTS THAT MAY BE OBTAINED BY USING THE SOFTWARE. THE ENTIRE RISK AS TO THE INSTALLATION, USE, QUALITY, AND PERFORMANCE OF THE SOFTWARE IS WITH YOU. IT IS YOUR RESPONSIBILITY TO VERIFY THE RESULTS OBTAINED FROM USE OF THE SOFTWARE. Some jurisdictions do not allow the limitation or exclusion of implied warranties, so the above limitation or exclusion may not apply to you. This warranty gives you specific legal rights and you may also have other rights which vary. This disclaimer of warranties and the limitation of liability below shall not be modified, diminished or affected by and no obligation or liability will arise or grow out of the rendering of technical, programming, or other advice or service or the provision of support for the Software by MYOB. LIMITATION OF REMEDIES. MYOB'S ENTIRE LIABILITY TO YOU AND YOUR EXCLUSIVE REMEDY SHALL BE THE REPLACEMENT OF ANY DEFECTIVE MEDIA (SUCH AS CD-ROM) RETURNED BY YOU TO MYOB WITH PROOF OF PURCHASE DURING THE 30-DAY LIMITED WARRANTY PERIOD, AS SET FORTH ABOVE. IN NO EVENT WILL MYOB BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING BUT NOT LIMITED TO LOST REVENUES, DATA, PROFITS OR SAVINGS) ARISING OUT OF YOUR USE OR INABILITY TO USE THE SOFTWARE EVEN IF MYOB HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL THE LIABILITY OF MYOB ARISING FROM YOUR USE OR INABILITY TO USE THE SOFTWARE EXCEED THE FEE PAID BY YOU FOR THIS LICENSE. Some jurisdictions do not allow the limitation or exclusion of liability for incidental or consequential damages so the above limitation or exclusion may not apply to you. GENERAL. This Agreement will inure to the benefit of MYOB, its successors, and assigns and will be construed under the laws of the State of New Jersey, except for that body of laws dealing with conflict of laws. If any provision of this Agreement is deemed invalid by a court of competent jurisdiction, such provision shall be enforced to the maximum extent permitted and the remainder will remain in full force. This Agreement is the entire agreement between you and MYOB in respect of the Software.

MYOB Premier Accounting 2007 (v16)

Contents
1: Introduction
Learn about your MYOB accounting software Where to start
.... ............................... ....... 9 9 11 12 15

Transferring money between accounts Tracking petty cash expenses

. . . . . . . . . . 49

. . . . . . . . . . . . . . . . . . 50

Recording miscellaneous transactions . . . . . . . . . . . 51 Credit card purchases and payments to credit card providers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 Credit card payments using the MYOB Merchant Account Service . . . . . . . . . . . . . . . . . . . . . . . . 53 Importing statements
. . . . . . . . . . . . . . . . . . . . . . . . . 58 61 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61

Explore your MYOB accounting software

2: Setting up your company file

Setting up preferences
........................

Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
16

Setting up accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Setting up sales details . . . . . . . . . . . . . . . . . . . . . . . . 22 Setting up purchase details . . . . . . . . . . . . . . . . . . . . 24 Setting up payroll details . . . . . . . . . . . . . . . . . . . . . . 27 Performing an initial bank reconciliation Setting up MYOB Business Services Setting up MYOB Payroll Tax Forms
....... 32 34 38 41 ............................. ..................... 41 43 45

4: Sales
Entering sales

Recording sales with insufficient on-hand item quantities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65 Changing the status of a sale
. . . . . . . . . . . . . . . . . . 68 . . . . . . . . . . . . . . 69

............. ............

Reviewing your sales information Receiving payments

. . . . . . . . . . . . . . . . . . . . . . . . . . . 71 . . . . . . . . . . . . . . . . . . . . . 73

3: Banking
Receiving money Preparing a bank deposit Spending money

Printing payment receipts Credit control

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74 . . . . . . . . . . . . . . . . . . . . . 77 . . . 80

Creating customer credits

..............................

Dealing with a vendor who is also a customer Accounting for bad debts

Entering transactions in the Bank Register window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47

. . . . . . . . . . . . . . . . . . . . . . 81

5: Purchases
Entering purchases

83 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83 . . . . . . . . . . . . . . . . . . 87

Reviewing and changing activity slips Creating time billing invoices Work in progress

. . . . . . . . . 129

. . . . . . . . . . . . . . . . . 129

Receiving items without a bill

. . . . . . . . . . . . . . . . . . . . . . . . . . . . 132 133 . . . . . . . . . . . . . . . . . . . . . . . . . 133

Changing the status of a purchase . . . . . . . . . . . . . . 90 Reviewing your purchases information . . . . . . . . . . 91 Paying bills
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92

8: Inventory
Basic inventory tasks Creating items

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134

Preparing electronic payments using MYOB Vendor Payments . . . . . . . . . . . . . . . . 95 Creating vendor debits
. . . . . . . . . . . . . . . . . . . . . . . . 96 . . . . . . . . . . . . . . . . . . . 98 99

Making inventory adjustments . . . . . . . . . . . . . . . . 138 Multiple inventory locations Building items

. . . . . . . . . . . . . . . . . . 139

Adding finance charges paid

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141

Auto-building items . . . . . . . . . . . . . . . . . . . . . . . . . . 142

6: Paying your employees

Payroll setup tasks

Count inventory

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 143 . . . . . . . . 145

. . . . . . . . . . . . . . . . . . . . . . . . . . . . 99 . . . . . . . . . . . . . . . . . . . 100

Reviewing your inventory information

Creating payroll categories

Setting item prices . . . . . . . . . . . . . . . . . . . . . . . . . . . 147 Customizing inventory

. . . . . . . . . . . . . . . . . . . . . . . 148 151 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151 . . . . . . . . . . . . . . . . . . . . . . . . . 154

Creating employee cards . . . . . . . . . . . . . . . . . . . . . . 105 Entering employee payroll information Timesheets

. . . . . . . . 105

9: Lists
Adding a record

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108 . . . . . . . . . . . . . . . . . . . . . . . 110

Processing your payroll Payroll liabilities

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118 . . . . . . . . . . . . . . . . 119 121 . . . . . . . . . . . . . . . 122

Setting up tax codes Finding a record Changing a record

Reviewing payroll information

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 155 . . . . . . . . . . . . . . . . . . . . . . . . . . . 155 . . . . . . . . . . 156

7: Billing for time

Setting time billing preferences Setting billing rates Creating activities

Inactivating or reactivating a record Deleting a record

. . . . . . . . . . . . . . . . . . . . . . . . . . . . 157

. . . . . . . . . . . . . . . . . . . . . . . . . . 123 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124 . . . . . . . . . . . . . . . . . . . . . . . . 126

Combining records . . . . . . . . . . . . . . . . . . . . . . . . . . . 158 Synchronizing your MYOB cards and your Microsoft Outlook contacts . . . . . . . . . . . . 160

Creating activity slips

Contents

MYOB Premier Accounting 2007 (v16)

10: Transactions
Finding a transaction
........................ ...........

167 168 171 173 174 179 180 182 183 185 187 187 188 190 191 195

14: Financial control

Tracking financial information Budgets

207 . . . . . . . . . . . . . . . . 207

Changing or deleting a transaction Reversing a transaction Recurring transactions

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 211 . . . . . . . . . . . . . . . . . . . . . . . . 214

...................... .......................

Auditing your records

Reviewing financial information . . . . . . . . . . . . . . . 215

11: International transactions

Setting up multiple currencies Exchange rates
................

15: End-of-period procedures

Month-end procedures Year-end procedures

217

. . . . . . . . . . . . . . . . . . . . . . . 218 . . . . . . . . . . . . . . . . . . . . . . . . . 227 . . . . . . . . . . . . . . . . . . . . . 227 . . . . . . . . . . . . . . . . . . . 230

.............................. ............

Tracking currency gains and losses Miscellaneous transactions

Starting a new fiscal year Starting a new payroll year

...................

12: Printing and customizing reports

Quick start
.................................. ........................... ......................

16: Managing user accounts and company files

Managing user accounts

233

Producing reports

. . . . . . . . . . . . . . . . . . . . . . 234 . . . . . . . 236

Printing report batches Customizing reports

Backing up and restoring company files Servicing your company file

.........................

. . . . . . . . . . . . . . . . . . . 239

13: Forms
Finding forms Sending forms
............................... ............................... .......................... .................

Special considerations for networked company files . . . . . . . . . . . . . . . . . . . . . . . . . 241

196 197 200 203

A: Importing and exporting data

Exporting data

245

Customizing forms

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 245 . . . . 246

Adding and editing elements

Exporting to and importing from CaseWare Importing data

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 247

User Guide

Contents

B: More tools
More tools for organizing your day-to-day tasks

249 249 253 . . . . . 253

C: Networking company files

Preparing company files for multiple users Setting up the network hardware

. . . . . . . . . . . . . 254

Setting up a company-file folder on a Windows host . . . . . . . . . . . . . . . . . . . . . . . . . 254 Accessing the shared company file from Windows workstations . . . . . . . . . . . . . . . . . 259

Glossary Index

261 269

Contents

MYOB Premier Accounting 2007 (v16)

1 Introduction
Before you begin, invest some time in finding out about the many information resources available to you. You will also benefit from learning about the basic features of navigation and transaction entry.

Learn about your MYOB accounting software

MYOB is committed to developing accounting software that is easy to use. To that end, your MYOB accounting software is accompanied by comprehensive information resources to help you learn about your software and to provide support as you set up your records and enter transactions. transaction entry and periodic tasks, such as issuing invoices, making payments and end-of-period processing. 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 accounting software.
How to Upgrade guide The How to Upgrade guide provides you with step-by-step instructions on how to upgrade your MYOB accounting software. Accounting 101 The Accounting 101 guide introduces you to basic accounting terms and concepts. This guide is ideal for people who are new to accounting or for people who want to review basic accounting principles. Checks & Forms 101 The Checks & Forms 101 guide provides

Manuals
Users of MYOB accounting software receive the following reference materials: Getting Started guide, User Guide (this publication), How to Upgrade guide, an introduction to Accounting 101 guide and an MYOB Checks and Forms guide.
Getting Started guide The Getting Started guide provides information on how to install your accounting software, and how to create and activate your company file. User Guide

This User Guide introduces the principal features, functions and capabilities of your MYOB accounting software. It is designed to be used as a reference for everyday

information about MYOB stationery including choosing the right forms for your business and how to order and customize MYOB checks and forms.

Online help
Online help is a comprehensive online resource that complements the User Guide by covering all functions and features of your MYOB software, including those used infrequently. It also includes helpful information for solving common bookkeeping problems.

Help in MYOB windows

Opening online help from any windowother than command center windowsdisplays descriptions or procedures relevant to that window. Click Help button ( ) and choose Help for This Window, Tell Me How, Tips & Troubleshooting or Search the Help.

To display online help

In any window, press the F1 key. In any windowother than command center windowsclick the Help button ( ) and choose Help for This Window. Choose MYOB Premier Help from the Help menu. The help menu bar in the topic that appears always includes these menus: Topics, Site Tools and Search. The options available from these menus are described below.
Select... Topics If you want to... Site Tools Search see descriptions of new features find procedures for setting up the software, managing company files and managing user accounts find procedures for performing daily and end-of-period tasks find procedures for printing reports and forms, and importing and exporting data see a glossary of terms. learn how to use online help find overviews of functions set the size of the help window.

These options are described below.

Select... Help for This Window If you want to.... see a description of the window, which includes links to more detailed descriptive and procedural topics [Overview tab]. see a description of each field in the window [Fields tab]. display links to topics that give you tips to solving common problems or that direct you to other sources of help [Tips tab].

Tell Me How

display a list of topics that tell you how to perform various tasks in the window, or other related tasks.

Tips & display links to topics that give you tips on solving Troubleshooting common problems or that direct you to other help sources. Search the Help locate topics by keywords. Searches can be as widely or as narrowly defined as you like.

locate topics by keywords. Searches can be as widely or as narrowly defined as you like.

10

Chapter 1 Introduction

MYOB Premier Accounting 2007 (v16)

Command center help

The main windows in your MYOB accounting software are known as command centers. A help icon appears in the top right corner of each command center window. For more information, see Command centers on page 12.

Other resources
In addition to online help, you can also access various web-based resources. These resources, available from the Help menu, enable you to: check for product updates review user manuals and other guides access software support resources including MYOB Frequently Asked Questions and MYOB Discussion Board access information about MYOB Business Services and MYOB Solutions Directory and send us your feedback. Note that you need to subscribe to MYOB Product Support to use some of these resources.

When you click the help icon ( ), the online help displays a description of the command center and its various functions.

Where to start
When you start your MYOB accounting software, a welcome window displays the following options: Open your company fileuse this option to open your company file once it has been created. Create new company filecreate a company file for your business. See the Getting Started guide for more information on creating and activating company files. Explore the sample companyexperiment with a sample companys data and learn how to use your MYOB accounting software. Whats New in this versionlearn about the new features in this version. Exitclose your MYOB accounting software.

Experiment with a sample companys data

Before you create a new company file, we recommend that you experiment with a sample companys data. We have provided a sample company file, called Widgets & Co. This file contains sample data for you to experiment with. You can add, change and remove data, as well as view and print reports.

User Guide

Where to start

11

To explore the Widgets company file

Start your MYOB accounting software and, in the welcome window that appears, click Explore the sample company. A command center window appears.

A command center window always appears when a company file is open. Notice that the name of the sample company, Widgets & Co., appears at the top of the window. Now that the Widgets & Co. company file is open, you can browse through the software, explore the transactions that have already been entered and enter some transactions yourself.

Explore your MYOB accounting software

You should become familiar with the following tools and aids:
Tool Command centers Calendar Calculator Zoom arrows Search icons Mouse shortcuts See below page 13 page 14 page 14 page 14 page 14

Command centers
There are eight command centers in your accounting software. The following is an illustration of the Sales command center.

Each command center contains a row of icons in the top section of the window. These icons allow you to switch between command centers.

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Chapter 1 Introduction

MYOB Premier Accounting 2007 (v16)

The highlighted icon represents the current command center, and the flowchart displayed below the icons illustrates the major tasks associated with that command center. (For example, when the Sales icon is highlighted, tasks such as Enter Sales and Print/Email Statementstypical tasks you would complete in relation to salesappear in the command centers flowchart.) There are four menus at the bottom of each command center. The options available from these menus are described below.
Select... To Do List If you want to... record and manage tasks that need your attention, such as paying invoices to take advantage of earlypayment discounts, or restocking items when inventory is low. view summary information about your accounts, sales, purchases, cards, items, payroll and jobs. view a list of the available reports. analyze a number of key aspects of your business.

Calendar
The calendar simplifies date entry. For example, suppose youre entering a sale and have promised the goods to the customer on the last Friday of the month. Rather than figure out the date and enter it manually, display the calendar in the Promised Date field and click the date. To display the calendar, put the cursor in a date field and press either = (equals) or the SPACEBAR on your keyboard. Select a date by clicking it, or by using the arrow keys on your keyboard and then pressing ENTER. The selected date appears in the date field. To close the calendar without selecting a date, press ESC.

Find Transactions Reports Analysis

There are two ways of selecting an option: Click the menu name to display the window relevant to the command center you are in. Click the arrow ( ) next to the menu name and select from a list of the available options for all command centers (not just the command center you are currently in).

The current date appears in red. You can click the arrow symbols next to the month to display a different month.

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Calculator
A calculator is available to simplify calculating and entering numeric data, including money amounts, item quantities and units. The calculator is available from every window where you can enter numeric data. Pressing = (equals) or the SPACEBAR when the cursor is in a numeric data field displays the calculator. In the calculator, enter your calculation and then press ENTER. The result appears in the numeric data field. To close the calculator without entering numeric data, press ESC.

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 shipping methods, or records provided by default.

Select columns
Select columns allow you to select items from a list. Select columns are indicated by a select icon ( ) located at the top of the list column. You select a desired item by clicking in the select column next to it. You can select all listed items by clicking the select icon at the top of the list column, and clear all selected items by clicking the select icon again.

Mouse shortcuts 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 gray zoom arrow ( ) allows you to display more detailed information about a transaction, but the information is read-only (that is, it cannot be changed). If you want to change the information, you can reverse the transaction and re-enter it (see Reversing a transaction on page 173). Alternatively, you can change your security preference selection to make all transactions changeable (see Setting up preferences on page 16). 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.

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2 Setting up your company file

This chapter shows you how to set up your preferences, accounts, sales, purchases, payroll and bank accounts. You dont need to set up all the features at once; if you prefer, you can set up the minimum for your business and set up the other areas later, if you need to. Ideally, you should have the following before you set up your company file: a list of your accounts with their balances a list of your receivables a list of your payables the balance of each business bank account and a list of uncleared checks and undeposited receipts as of your conversion date a list of the items you sell, their selling price and applicable taxes, and an inventory valuation pay details of your employees, including wages, bank details (if you offer direct deposit of employee paychecks), etc.

Overview
Before you start entering transactions, you need to set up your company file. Some tasks can be performed using the Easy Setup Assistants from the Setup menu; others are performed from the command center windows. Your MYOB accounting software has the following Easy Setup Assistants.
Easy Setup Assistants for guided setup tasks
Assistant Customize Accounts Sales Purchases Tasks performed Customize your preferences Create accounts and enter opening balances Set up your customers and sales information Set up your vendors and purchase information. Create payroll categories and enter your employees pay information See page 16 page 17 page 22 page 24

Payroll

page 27

15

Other setup tasks These tasks are performed by selecting

To access the Easy Setup Assistants

1 Go to the Setup menu and choose Easy Setup Assistant. The Easy Setup Assistant window appears.

options from the command center windows or menus. For information on how to set up: tax codes, see page 154 items, see page 134 bank accounts for reconciling, see page 32 MYOB Business Services, see page 34 categories and jobs, see page 207.

2 Continue with Setting up preferences below.

Setting up preferences
There are numerous preferences that you can set to customize the way the your MYOB accounting software operates. The Customize Easy Setup Assistant will guide you through setting up some of them. Click Customize in the Easy Setup Assistant window. The Customize Easy Setup Assistant appears. Each window in the assistant describes several preferences that you can set. Click Next to move through the windows and click Close when you have finished. Then continue with Setting up accounts on page 17. The following are some of the preferences you can set with the Customize Easy Setup Assistant.
Preference Use Easy-Fill When Selecting From a List Description You can use the Easy-Fill feature to enter account names or numbers, item names or numbers and card names that you enter frequently. Easy-Fill will recognize the entry you are making and automatically fill in the rest of it. If you enter long descriptions on invoices and bills, you can view those descriptions in their entirety whenever the Description field is active. You can set up your MYOB accounting software to search for accounts by their names rather than by their numbers. With this preference set, accounts are sorted alphabetically based on name. Set this preference if you want to enable multi-currency accounting. By selecting this option you can enter transactions in any number of currencies in addition to your local currency.

Use Expandable Data Entry Fields in Windows Select and Display Account Name, Not Account Number I Deal in Multiple Currencies

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Setting other preferences

To view, edit and set all preferences (including those in the Easy Setup Assistant), choose Preferences from the Setup menu.

Setting up accounts
In your MYOB accounting software, 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 rental payments to that account. Since your MYOB accounting software keeps a running total of all transactions allocated to an account, you can see the total amount you have spent on rent. The accounts you use for your business are grouped in the accounts list. The second step in setting up your company file is to set up your accounts. This includes: reviewing and, if necessary, modifying your accounts list entering your account opening balances. The Accounts Easy Setup Assistant will help you complete these tasks. To open the Accounts Easy Setup Assistant, click Accounts in the Easy Setup Assistant window.

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Review your accounts list

There are eight account classifications in the accounts listAssets, Liabilities, Equity, Income, Cost of Sales, Expenses, Other Income and Other Expenses. The account classifications and account types are summarized in the following table.
Account Account Type Classification Asset Bank Accounts Receivable Other Current Asset Description Money in the bank, for example, in a checking or savings account. Money owed to you by customers. Assets that can be turned into cash within a year. These may include your term deposits and petty cash. Current assets usually do not significantly lose their value in the short term. Assets which have a long life, for example, buildings, cars and computers. Fixed assets are usually depreciated; that is, they lose some of their value with age and use. Any other assets such as loans made to others, and intangibles, such as goodwill. Repayments required to service credit card debt. Money you owe to vendors. Money you owe that is due in less than a year, for example, tax.

Equity

Equity

The businesss net worth, that is, its assets minus its liabilities. Common equity accounts are current year earnings, retained earnings and shareholders equity. Revenue from the sale of goods or services. Represents the cost of buying raw materials and producing finished goods for sale. This includes the raw materials, labor inputs and business overheads related solely to the production and storage of the goods. The cost of sales is subtracted from your income to calculate gross profit. Your expenses are subtracted from your gross profit to produce net profit. The day-to-day expenses of running your business, for example, electricity bills, employee wages and cleaning. Other revenues, for example, interest earned on savings and dividends paid from shares. Other expenses, for example, interest charged.

Income Cost of Sales

Income Cost of Sales

Expense

Expense

Fixed Asset

Other Income Other Income

Other Asset Liability Credit Card Accounts Payable Other Current Liability

Other Expense

Other Expense

In the Accounts Easy Setup Assistant, click Next to go to the Set up the Accounts List to meet your business needs window. This window displays the list of accounts you selected when you created your company file with the New Company File Assistant. Each account is assigned a level, which indicates its location in your accounts list hierarchy. The eight account classifications listed above are the only accounts that can be level 1. Other accounts can be assigned level 2, 3 or 4.

Long Term Liability Money you owe that is due in more than one year, for example, an outstanding mortgage. Other Liability Other money you owe.

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You can review an accounts details by clicking the zoom arrow ( ) next to the account. As you review an account, you can: change its type (if it is an asset or liability account) change its number change its name give it a description add bank details (if it is a bank or credit card account). As you review your accounts, you may realize that you need additional accounts, or that there are accounts youll never use. You can create or delete accounts in the Accounts Easy Setup Assistant. If you chose to import an accounts list provided by your accountant, continue with To import data on page 248.

2 In the Profile tab, specify whether the account is a header or detail account. Header accounts group related detail accounts. The balance of a header account is the sum of the balances of the grouped detail accounts. Header accounts appear in bold type. You cannot post a transaction to a header account. Detail accounts are accounts that you can post transactions to. They are the accounts that appear in the accounts selection lists of transaction windows. If you are creating your accounts list from the beginning, it may be easier to enter all your header accounts before entering your detail accounts. 3 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 Review your accounts list on page 18. 4 Enter a number for the account in the Account Number field. You can enter any four-digit number you like. Note that the prefix to the account number is determined by the account classification: 1- for asset accounts, 2- for liability accounts, 3- for equity accounts, and so on. 5 Press TAB and type a name for the account.
NOTE : Account opening balances When creating or editing an account, you are not required to enter opening balances. This is done later in the setupsee Enter your account opening balances on page 20.

To create a new account

1 Click New in the Accounts Easy Setup Assistant. The Edit Accounts window appears.

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6 Click the Details tab.

10 If you selected Bank or Credit Card in the Account Type list in step 3 on page 19 and you want to keep a record of your bank account details, click the Banking tab and enter the account information in the relevant fields. Copy this information exactly as it appears on your bank statement or checkbook.
NOTE : Routing for electronic payments The ABA routing number and account details are required so that MYOB Direct Deposit and MYOB Vendor Payments can include information about the account when making electronic payments. See Record your bank account information on page 36.

7 If you want, type a brief description of the account in the Description field. 8 If you are creating a detail balance sheet account (other than an asset that has the account type of Bank), select an option from the Classification for Statement of Cash Flows list. 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, where you received additional cash, and where your cash was spent. Once accounts are classified, they are displayed in the section of the report you specified. If youre unsure about which classification to use, consult your accountant or an MYOB Certified Consultant. 9 If you enter transactions in multiple currencies, type or select the currency for transactions that will be posted to this account in the Currency field. You will need to have indicated that you deal in multiple currencies in your preferences. See Setting up preferences on page 16.

11 If you want to enter historical balances, complete the Last FY column on the History tab. This enables you to compare the years monthly account balances with those of the corresponding months in the previous year. 12 If you want to set up a budgetfor example, for an income or expense detail accountclick Budgets and complete the fields in the Prepare Budgets window that appears. For more information on budgets, see Budgets on page 211. 13 Click OK when you have finished. The account you created will now appear in your accounts list. 14 When you have finished reviewing your accounts list, click Next to enter your opening balances.

Enter your account opening balances

Unless you are just starting a new business, most of your accounts probably already have balances. For example, youve made sales, paid bills, deposited money in your businesss bank account and conducted a variety of other business activities that affect your account balances. In this step, you will enter those balances.

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To correctly assign opening balances to accounts, you need to enter the balance of each account as of the first day of your conversion month. If your conversion month is the first month of your fiscal year (for example, if your fiscal year runs from January to December and your conversion month is January), enter the opening balances of your asset, liability and equity accounts only. (The opening balances of your income, cost of sales and expense accounts should be zero.) If your conversion month is not the first month of your fiscal year (for example, if your fiscal year runs from January to December and your conversion month is August), enter the opening balances of all your accounts.
Opening bank account balances You can enter either of the following amounts as the opening balance of a bank account:

Note that before you can reconcile your bank accounts, you need to record the details of uncleared transactions in your company file. For more information on recording these details, see Performing an initial bank reconciliation on page 32.

To enter opening balances

1 Enter the account opening balances in the Opening Balance column.
NOTE : You should enter opening balances as positive numbers Dont, 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.

the amount that appears on your balance sheet or trial balance reports as of your conversion date. These reports can be provided by your accountant, or can be printed from the accounting software you were previously using. the cashbook balance of the account as of your conversion date. You can calculate your cashbook balance by adding transactions not yet cleared by your bank at conversion to the balance that appears on your bank statement at that date. For example, if your bank statement balance as of your conversion date is $21,000 and, at this date, you have an uncleared deposit for $500 and an uncleared check for $1,000, your cashbook balance is $20,500 (that is, $21,000 + $500 $1,000).

2 Check the amount in the Amount left to be allocated field at the bottom of the window. If this field displays $0.00, the total of the opening balances you assigned to your asset accounts equals the total of opening balances of your liability and equity accounts. Go to step 3. If this field displays an amount other than $0.00, check your opening balances again. If you cannot find the reason why the accounts dont balance, click Help and choose Help for This Window. However, you can continue the setup process if there

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is an amount in the Amount left to be allocated field. The amount will be assigned to a special equity account called Historical Balancing. 3 Once you have entered your account opening balances, click Next and then click Close to exit the Accounts Easy Setup Assistant.

You have completed setting up your accounts. If you want to make changes to accounts, or delete any accounts later, you can do so from the Accounts command center. See Changing a record on page 155 or Deleting a record on page 157.

Setting up sales details

In the Sales Easy Setup Assistant, you can set up information about your customers and sales. Before you begin, you may find it helpful to gather a list of your customers, along with their addresses, phone numbers and so on. Also, gather a list of all the sales youve made that havent yet been fully paid. Click Sales in the Easy Setup Assistant. Work your way through the Sales Easy Setup Assistant, entering the required information in the appropriate windows.

Set up default selling details

In the Decide on selling details window, choose an income account for allocating sales to and specify a default credit limit for all your customers. If you sell items at different price levels, you can also set the most frequently used price level. Remember that you can change these selections for any of your customers at any time. When you have finished, click Next.

Select default tax codes

In the Assign sales tax to your customers window, select the tax code that you use most often with sales and freight charges. For more information on tax codes and how to assign them to your customers, see Setting up tax codes on page 154. When you have finished, click Next.

Set up a default layout

In the Sales Easy Setup Assistant welcome window, click Next to go to the Choose sale layout window. Choose the sale layout that you expect to use most often. For example, if you have a wholesale business, choose the Item layout since this is designed for item sales. This layout will be assigned to all new customer cards, but you can change the sales layout for a customer at any time, either on a customers card or when recording a sale. When you have finished, click Next.

Set up a default payment method and credit terms

Enter the default payment method and the credit terms you generally extend to your customers. These entries will be used as the default when you create new customer cards, but you can change them any time. When you have finished, click Next.

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Set up linked accounts for sales

Review the default accounts that will be used to track your customer receipts and undeposited funds. If you want to use different linked accounts to the ones displayed, type or select those accounts in the account fields. The accounts you select must be bank accounts. When you have finished, click Next.

To create a customer card

1 Click New. The Card Information window appears 2 Enter details about your customer. You dont have to complete the fields on all of the tabs in this window; however, we recommend that you fill information in the Profile and Selling Details tabs now. You can complete the others later from the Card File command center.

Create customer cards

In the Build your customer list window, enter information about each of your customers. You need to create a record for each customer, but you can choose to enter as little or as much information as you like in these records. Note that any information you enter on a customer card takes precedence over similar information entered in earlier steps in the Sales Easy Setup Assistant. If your customer information is stored in a spreadsheet or other accounting software, you may want to import that information. For detailed instructions on how to import customer card information, see To import data on page 248. In the Build your customer list window, you can also make changes to or delete cards. If you want to add, make changes to or delete customer cards later, you can do so from the Card File command center. For more information, See Changing a record on page 155 or Deleting a record on page 157.
A B

C D

Selling information

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. The customers credit limit is displayed. Enter the customers tax information here.

B C D

Credit Limit & Tax information

Customer Terms These are the default credit terms you entered earlier. You can override them here for this customer. Credit Limit & Hold Click Credit Limit & Hold and enter the customers credit limit in the window that appears.

NOTE : Skip the Payment Details tab for now If you intend to use the MYOB Merchant Account Service to authorize and process credit card sales from within your MYOB accounting software, it is

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easier to add the credit card information while entering the sale. See Credit card payments using the MYOB Merchant Account Service on page 53.

1 In the Enter historical sales for your customers window, click Add Sale. The Historical Sale window appears. 2 Type or select the name of the customer and press TAB. 3 Enter the details of the outstanding sale. 4 Click Record. The Enter historical sales for your customers window appears. 5 Repeat from step 1 for each historical sale you want to record.

3 When you have finished, click OK to return to the Sales Easy Setup Assistant. The card you created appears in the customer list. 4 Repeat from step 1 for each customer card you want to create. When you have finished creating your customer list, click Next.

Enter historical sales

Historical sales are sales youve made that havent been paid in full as the first day of your conversion month.

6 When you have finished entering your historical sales, click Next. The Congratulations window appears. 7 Click Close to exit the Sales Easy Setup Assistant.

Setting up purchase details

In the Purchases Easy Setup Assistant, you can set up your vendor information and other information related to purchases. Before you begin, you may find it helpful to gather a list of your vendors, including their contact details, along with a list of purchases you have made, but not yet paid in full. Click Purchases in the Easy Setup Assistant. Work through the Purchases Easy Setup Assistant, entering the required information in the appropriate windows. cards, but you can change the purchase layout for a vendor at any time, either on a vendors card or when recording a purchase. When you have finished, click Next.

Set up default buying details

In the Decide on buying details window, select the expense account to which your purchase transactions will be most often allocated. If you intend to use multiple accounts for purchases, leave this field blank. Remember that you can change these selections for any of your vendors at any time. When you have finished, click Next.

Set up a default layout

In the Choose purchase layout window, choose the purchase layout you expect to use most often. For example, if you have a wholesale business, choose the Item layout since this is designed for item purchases. This layout will be assigned to all new vendor

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Select default tax codes

In the Assign sales tax to your vendors window, select the tax code you most often use when making purchases and the tax code for freight charges if applicable. For more information on tax codes, see Setting up tax codes on page 154. When you have finished, click Next.

Create vendor cards

In the Build your vendor list window, enter information about each of your vendors. You can choose to enter as little or as much information as you like in these records. Note that any information you enter in a vendors card takes precedence over similar information entered in earlier steps of the Purchases Easy Setup Assistant. In the Build your vendor list window you can also make changes to or delete cards. If your vendor information is stored in a spreadsheet or other accounting software, you can import that information. For information on how to import data, see To import data on page 248.

Set up default credit terms

In the Set up payment information window, enter the credit terms that your vendors generally extend to you. When you have finished, click Next.

Set up the linked account for purchases

In the Select the account to pay your vendor bills window, select the default account that will be used to pay bills from your vendors in the Account for Paying Bills field. The account you select must be a bank or credit card account.
CAUTION : MYOB Business Services must use the same linked account for electronic payments If you intend to make electronic payments using MYOB Vendor Payments and MYOB Direct Deposit, the account for paying bills must be the same as the account you select for making direct deposits to employees. For more information, see Set up an electronic payments clearing account on page 37.

To create a vendor card

1 Click New. The Card Information window appears. 2 Enter details about your vendor. You dont have to complete the fields on all of the tabs in this window; however, we recommend that you enter information in the Profile and Buying Details tabs now. You can complete information in the other tabs later from the Card File command center.

When you have finished, click Next.

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3 If you pay this vendor using MYOB Vendor Payments, click Payment Details and enter the vendors banking details. For more information, see Setting up MYOB Business Services on page 34.
B

4 When you have finished, click OK to return to the Purchases Easy Setup Assistant. The card you created now appears in the vendor list. 5 Repeat from step 1 for each vendor card you want to create.

6 When you have finished creating your vendor list, click Next.

Enter historical purchases

A Buying information The selections you make here will be used, by default, on quotes, orders and bills that you create for this vendor. You can override these selections when recording a purchase. Your credit limit with this vendor and the vendors tax information are entered here. If you plan to print a 1099 statement for this vendor, indicate how you want to report the payments by selecting a category in the Report Payments on 1099 as field. If the Report Payments on 1099 as field is not available, you have not yet set up payroll (see Setting up payroll details on page 27). After you have set up payroll, you can return to this window to set up the vendor card to track payments on 1099 statements. For more information about reporting vendor payments on a 1099 statement, see the online help. C Credit terms These are the credit terms you entered earlier. You can override them here for this vendor.

Historical purchases are purchases that havent been paid in full as of the first day of your conversion month. 1 In the Enter historical purchases for your vendors window, click Add Purchase. The Historical Purchase window appears. 2 Type or select the name of the vendor and press TAB. 3 Enter details of your outstanding purchase. 4 Click Record. 5 Repeat from step 1 for each historical purchase you want to record. When you have finished entering your historical purchases, click Next. The Congratulations window appears. Click Close to close the Purchases Easy Setup Assistant.

B Credit limit and tax information

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Setting up payroll details

In the Payroll Easy Setup Assistant, you can load tax tables, review your payroll categories and linked accounts, and enter details about your employees, such as their tax status, recurring pay and pay history. Click Payroll in the Easy Setup Assistant window. Work your way through the Payroll Easy Setup Assistant, entering the required information in the appropriate windows.

Enter and confirm the payroll year

Enter the current payroll year and click Next. Confirm the current payroll year and click Next.

Set up general payroll information

In the Set up your general payroll information window, you can enter the number of hours in your normal working week and enter your companys federal and state tax details.

Load tax tables

Payroll taxes are amounts that are calculated and deducted from employee pays according to the rules established by government taxation authorities. You need to load the payroll tax tables before paying your employees. On the Load payroll tax tables into your company file window, click Load Tax Tables. Once the tax tables are loaded, click Next.
NOTE :

To set up general payroll information

1 In the Full Work Week Hours field, enter the number of hours in your companys typical working week (not the hours in a pay period). The number you enter here will be used as the default to calculate wages and payable amounts (such as tax) on paychecks. You can override this on each employees card or paycheck as necessary. 2 Enter your federal tax ID number. 3 Enter your federal unemployment tax rate as a percentage. 4 Select the two-letter abbreviation of the state to which you pay state unemployment tax. Then enter your state payroll tax ID number and your SUI rate. 5 When you have completed the applicable fields, click Next.

Tax tables are current at the time we produce your software Tax rates are updated periodically and its essential that you load the most up-to-date tax tables. To check that you have the latest tax tables, click Check for Updates. (Internet access is required.)

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Set up default linked accounts

In the Assign linked accounts for your payroll transactions window, check the suitability of the default linked accounts.
Account for... Cash Payments Check Payments Electronic Payments Employer Expenses Wages Paid Deductions & Expenses Description The account you use to hold cash wage amounts until they are cleared. The bank account you use to write paychecks. The clearing account you use to temporarily hold amounts to be paid electronically. The default account that tracks your employer expenses. The default account that tracks the gross wages and salaries paid to employees. The default account to which the amounts withheld from paychecks are allocated.

Deductions

Monies withheld by the employer and paid to other organizations on behalf of the employee, for example, union fees. Employer-paid benefits, for example, medical insurance. Amounts withheld by the employer from an employees paycheck and paid to a federal, state or local government.

Employer expenses Taxes

Its a good idea to check the details of each wage, deduction, accrual and employer expense to make sure they suit your payroll requirements. To check a payroll categorys details, select the category type from the Select Category Type list and click the zoom arrow ( ) next to the category. The Information window for that category appears. You can make changes to the information as required. To create a new payroll category, select the category type from the Select Category Type list and then click New. The information window for the selected category appears. For more information on creating a payroll category, see Creating payroll categories on page 100.
Creating a new payroll category Editing a payroll category

To change a linked account, click the search icon ( ) next to it and select another account from the accounts list. When you have finished, click Next to continue.

Set up the payroll categories

Each paycheck can have up to five categories: wages, accruals, deductions, employer expenses and taxes.
Payroll category Wages Accruals Description All monies paid to an employee for labor or services rendered on an hourly, salary or other basis. Items such as vacation and sick leave, which employees accrue under the terms of their work agreement.

To edit a payroll category, select the category type from the Select Category Type list, select the category you want to change and click Edit for that category. For example, to edit a wage category, click Edit Wage.
NOTE :

Base Hourly and Base Salary payroll categories The Base Hourly and Base Salary payroll categories are the fixed categories for paying wage amounts to employees. You can change only the name of these categories.

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Deleting a payroll category To delete a payroll category, select the category type from the Select Category Type list, select the category you want to delete and click Delete for that category. For example, to delete a wage category, click Delete Wage.
NOTE : You cannot delete or create a tax type If you select Taxes from the Select Category Type list, the New Tax and Delete Tax options are disabled.

To enter payroll information

1 Click the Payroll Details tab.

When you have finished, click Next.

Create employee cards

In the Build your employee list window, enter information about each of your employees. You need to create a record for each employee. If you have stored employee information in a spreadsheet or other accounting software, you may want to import that information into your MYOB accounting software. For more information on how to import card information, see Importing data on page 247. In the Build your employee list window, you can also make changes to or delete cards. Payroll details are entered by clicking the section names listed on the left side of the windowfor example, Personal Details, Wages, etcand then completing the fields. 2 Click Personal Details and enter the employees personal details, social security number and their residence and work codes.
ENTER WAGE INFORMATION

To create an employee card

1 In the Build your employee list window, click New. The Card Information window appears. 2 Type the employees last name and press TAB. 3 Enter contact details for the employee.

3 Click Wages and enter the wage information for this employee: a Select the employees pay basis. When you select a pay basis, the corresponding payroll category for paying wage amounts is automatically selected in the Wage list. If you select Hourly, the Base Hourly wage category (or the name you assigned it) is selected. If you select Salary, the Base Salary wage category is selected. b Enter the employees annual salary or hourly wage rate. c In the Pay Frequency field, select the employees pay frequency.

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d In the Hours in [...] Pay Period field, type the number of hours in the employees normal pay period. e If the employees wage expense account is different from the default account, in the Wages Expense Account field, type or select the required account. f Click in the select column ( ) next to each wage category that applies to the employee.

ENTER TAX INFORMATION

7 Click Taxes and enter the employees tax details: a Select the employees tax level and marital status. b [Optional] Enter allowances and extra amounts withheld each pay period. Make sure you do this for both Federal and State tax levels if applicable. c Click in the select column ( ) next to each tax category that applies to the employee.
ENTER RECURRING PAY DETAILS

8 Click Recurring Pay. The employees recurring (default) pay details appear. The recurring values are determined by the payroll categories selected and values entered from step 3 to step 7 above.

ENTER ACCRUAL, DEDUCTIONS AND EXPENSE INFORMATION

4 Click Accruals and click in the select column ( ) next to each required accrual category. 5 Click Deductions and click in the select column ( ) next to each required deduction category. 6 Click Employer Expenses and click in the select column ( ) next to each required expense category.

a [Optional] Select a category from the Default Category list. Note that this option is available only if you have selected the Turn on Category Tracking preference on the System tab of the Preferences window.

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b If necessary, change the employees default pay details by overriding the values that appear in the Hours or Amount column next to a payroll category.
NOTE : Payroll categories with a calculated value The value of a payroll category with Calculated displayed in the Hours or Amount column is automatically calculated when you process a paycheck. Calculated values include tax amounts and accrual hours where hours are calculated as a percentage of the gross hours paid.

If you want to pay employees using MYOB Direct Deposit, select Electronic and enter the employees bank details in the Account Type, ABA Routing Number, Bank Account Number and Bank Account Name fields. These fields are used to route electronic payments to the correct destination bank.
NOTE : Before you pay your employees electronically with MYOB Direct Deposit You need to complete the MYOB Business Services setup tasks before you can pay employees by direct deposit. For more information on how to set up MYOB Direct Deposit, see Setting up MYOB Business Services on page 34.

c [Optional] Click the Job column next to a payroll category and to assign a job number to the category.
ENTER PAY HISTORY AND TIME BILLING INFORMATION

12 Click OK. The Payroll Easy Setup Assistant window appears and the card you created will now appear in the employee list. 13 Repeat from step 1 for each employee.

9 If you have already paid the employee in the current payroll year, click Pay History and type the amounts you have paid in the Activity column next to 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. 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. 10 If you use the Time Billing function to track the time the employee spends on work for clients and customers, click Time Billing and enter the employees time billing rate and cost per hour. For more information, see Chapter 7, Billing for time, starting on page 121.
ENTER PAYMENT METHOD INFORMATION

Set up timesheets
When you have finished creating the employee cards, click Next in the Payroll Easy Setup Assistant window. The Decide if youll use timesheets window appears. If you want to record hours worked by hourly employees using timesheets, select the I use Timesheets for [] preference and enter your timesheet details. Note that if you select this option, you will need to record hours worked for all hourly employees using timesheets. As well as using timesheets for payroll, you can also use timesheets for time billing. To do this, select the I use timesheets for [Time Billing and Payroll] option. You can then record timesheet hours using an activity slip or create an activity slip when you record timesheet hours. For more information about timesheets, see Timesheets on page 101.

11 Click the Payment Details tab and select the method you use to pay the employee in the Payment Method list.

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Setting up payroll details

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Performing an initial bank reconciliation

To ensure the accuracy of your business records, you should keep the record of your bank account balances in your MYOB accounting software matched up with amounts on your bank statements. This task is called reconciling accounts. If your business traded prior to your conversion month (that is, before the earliest month in the fiscal year for which transactions are to be recorded in your MYOB company file) and you have uncleared banking transactions as of the first day of your conversion month, you need to do an initial bank reconciliation. Uncleared banking transactions are those transactions (withdrawals and deposits) that have been recorded in your previous accounting system but have not been cleared by your bank as of the start of your conversion month. If you need to reconcile your bank accounts, complete the steps below.
Step 1 2 3 Task Identify uncleared withdrawals and deposits. Record uncleared withdrawals and deposits in your company file. Reconcile See below below page 33

that have not been cleared by your bank as of this date, you will need to record their details in your company file. For example, in March 2007, the month prior to your conversion month, you wrote a check for $1,000 and deposited $500 you received from a customer. If these transactions did not appear on your March bank statement, you need to record both transactions in your company file.

Step 2: Record uncleared withdrawals and deposits in your company file

You need to record uncleared transactions in such a way that the opening bank account balance is not affected. To do this, you post a debit and a credit of equal amounts against the applicable bank account for each transaction.

To enter uncleared withdrawals

1 Go to the Banking command center and click Spend Money. The Spend Money window appears. 2 In the Pay from Account field, type or select the bank account you want to reconcile. 3 In the Check # field, enter a reference number for the withdrawal. 4 In the Date field, type the first day of your conversion month. For example, if your conversion month is April 2007, enter 04/01/07. 5 In the Amount field, type the amount of the withdrawal. 6 In the Acct #. field, type or select the bank account you want to reconcile. This must be the account entered in step 2 above.

Step 1: Identify uncleared withdrawals and deposits

Compare your banking source information (such as your checkbook and deposit book) with your bank statement for the period that includes your conversion date. If you find transactions

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7 [Optional] Enter details of the withdrawal in the Memo field.

7 [Optional] Enter details of the deposit in the Memo field.

8 Click Record. 9 Repeat from step 3 above, for each uncleared withdrawal.

8 Click Record. 9 Repeat from step 3 above for each uncleared deposit.

To enter uncleared deposits

1 Go to the Banking command center 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 ID # field, enter a reference number for the deposit. 4 In the Date field, type the first day of your conversion month. For example, if your conversion month is April 2007, enter 04/01/07. 5 In the Amount Received field, type the amount of the deposit. 6 In the Acct # field, type or select the bank account you want to reconcile. This must be the account entered in step 2 above.

Step 3: Reconcile
1 Go to the Banking command center and click Reconcile Accounts. The Reconcile Accounts window appears. 2 In the Account field, select the bank account you want to reconcile. 3 In the New Statement Balance field, enter the closing bank balance as of the last day prior to your conversion month. (For example, the closing balance as of 03/31/07.) 4 In the Bank Statement Date field, enter the first date of your conversion month. (For example, if your conversion month is April 2007, enter 04/01/07.) 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.

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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. 8 If you want to print a reconciliation report, click Print Report. When the report is printed, click Reconcile again. 9 Click Reconcile.

Setting up MYOB Business Services

You can receive credit card payments and make electronic payments directly using your MYOB accounting software. You do this with MYOB Business Services, which replaces the manual entry of credit card sales, employee paychecks and vendor payments. Using the Internet, transaction details are imported from financial institutions and credit card providers to your MYOB accounting software, where they can easily be reconciled with your bank statements. MYOB Business Services include: MYOB Merchant Account Servicewhich lets you process customers credit card payments MYOB Direct Deposit Servicewhich lets you pay your employees electronically MYOB Vendor Payments Servicewhich lets you pay your vendors bills electronically.
NOTE :

MYOB Business Services are one-way You can receive credit card payments but not make credit card payments using MYOB Business Services; you can make electronic payments but not receive them using MYOB Business Services. MYOB Business Services requires payments in U.S. dollars.

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To learn about MYOB Business Services

1 Open your MYOB accounting software company file. 2 Go to the Setup menu and choose an option from the table below:
To learn about... MYOB Merchant Account Service MYOB Direct Deposit MYOB Vendor Payments Choose... Credit Card Processing and then Learn About Credit Card Processing. Electronic Payments and then Learn About Direct Deposit. Electronic Payments and then Learn About Electronic Vendor Payments.

card issuers are to deposit receipts. When you are setting up MYOB Direct Deposit or MYOB Vendor Payments (together referred to as electronic payments), you must enter the bank routing information for the checking account from which electronic payments are to be withdrawn.

To apply for MYOB Business Services

NOTE : Connect to the Internet Before you can apply for MYOB Business Services, you need to connect to the Internet.

1 Open your MYOB accounting software company file. 2 Go to the Setup menu and choose an option from the table below:
To apply for... MYOB Merchant Account Service MYOB Direct Deposit Choose... Credit Card Processing and then Learn About Credit Card Processing. Electronic Payments and then Learn About Direct Deposit. Electronic Payments and then Learn About Electronic Vendor Payments.

The overview page for the chosen service appears.

Activating MYOB Business Services

Before you can activate and begin using MYOB Business Services, you need to apply for a merchant account and for the services you require. Once your application is approved, you will be sent the information required to activate MYOB Business Services. You need the merchant account to authorize and track transactions through the electronic payments network. In addition, you must also apply for at least one service, either credit card processing (MYOB Merchant Account Service) or electronic payments (MYOB Direct Deposit and MYOB Vendor Payments). If you initially opt for only one of these services, you can apply for the others later. When you apply for the MYOB Merchant Account Service (credit card processing), you must select a checking account into which credit
Specifying MYOB Business Services checking accounts

MYOB Vendor Payments

The overview page for the chosen service appears. 3 Click the Apply Now link. 4 Follow the on-screen application instructions. When your application is approved, MYOB sends you a merchant ID, user name, and password required to activate your merchant account. If you applied for the MYOB Merchant Account Service, you will also receive a separate package of literature, signage, and other materials.

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Setting up MYOB Business Services

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To activate MYOB Business Services

Make sure you have your merchant ID, user name, and password on hand. 1 Open your MYOB accounting software company file. 2 Go to the Setup menu and choose an option from the table below:
To activate... MYOB Merchant Account Service MYOB Direct Deposit MYOB Vendor Payments Choose... Credit Card Processing and then Set up Credit Card Processing. Electronic Payments and then Set up Electronic Payments & Direct Deposit Electronic Payments and then Set up Electronic Payments & Direct Deposit

Additional tasks required to set up MYOB Vendor Payments and MYOB Direct Deposits
When you have activated your MYOB Vendor Payments or MYOB Direct Deposits service, complete the following tasks to set up your service
Step 1 2 3 4 Action Record your bank account information Set up an electronic payments clearing account Record your vendor bank information Record your employee bank information See below page 37 page 37 page 37

Step 1: Record your bank account information

The MYOB Business Services Setup window appears. 3 Complete the relevant fields in the MYOB Business Services Setup window. For an explanation of the fields or a detailed procedure, click Help and choose either Help for This Window or Tell Me How. If youre setting up MYOB Merchant Account Service only, your setup is complete. 4 If you are setting up MYOB Direct Deposit and/or Vendor Payments, select Direct Deposit and/or Vendor Payments and select the account from which electronic payments are to be withdrawnusually the checking accountin the Pay From Account field. This account becomes the default in the Prepare Electronic Payments window. 5 Click OK. You need to record your bank identification information for the checking account you specified in the MYOB Business Services Setup window. This is required for routing payments across the electronic payments network.
NOTE : Entering bank account details in the Accounts Easy Setup Assistant If you entered banking details for your accounts in the Set up the Accounts List to meet your business needs window of the Accounts Easy Setup Assistant (see page 19), you can ignore this procedure.

1 Go to the Accounts command center and click Accounts List. The Accounts List window appears. 2 Select the bank account you will use for electronic payments. This is the account you selected in step 4 in To activate MYOB Business Services above. 3 Click Edit. The Edit Accounts window appears.

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4 Click the Banking tab. 5 Enter your bank account details. Copy this information as it appears on your bank statement or checkbook. 6 Click OK to return to the Accounts List window.

Step 3: Record vendor bank information

1 Go to the Card File command center and click Cards List. The Cards List window appears. 2 Locate a vendor that you pay electronically and click Edit. The Card Information window appears. 3 Click the Payment Details tab. 4 Enter the vendors bank account details. 5 Click OK to return to the Cards List window. 6 Repeat from step 2 for each vendor you pay electronically.

Step 2: Set up an electronic payments clearing account

When you record a transaction you want to pay electronically, you need to post the transaction to a temporary holding account until you create the electronic payment file. This holding account is called a clearing account. Check your accounts list for an account named Electronic Clearing Account. If it doesnt exist, you need to create it. Note that the clearing account must be a banking account, that is, an account with a Bank or Credit Card type. For information on creating an account, see To add an account to your accounts list on page 152. Before you can post transactions to the electronic clearing account, you need to make this account the linked (default) account for electronic payments. 1 Go to the Setup menu, choose Linked Accounts and then Accounts & Banking Accounts. The Accounts & Banking Linked Accounts window appears. 2 In the Bank Account for Electronic Payments field, type or select the Electronic Clearing Account. 3 Click OK.

Step 4: Record employee bank information

NOTE : Entering employee bank details in the Payroll Easy Setup Assistant If you entered banking details for your employees in the Build your employee list window of the Payroll Easy Setup Assistant (see page 29), you can ignore this procedure.

1 Go to the Card File command center and click Cards List. The Cards List window appears. 2 Locate an employee that you pay electronically and click Edit. The Card Information window appears. 3 Click the Payment Details tab. 4 Select Electronic from the Payment Method list. 5 Enter the employees bank account details. 6 Click OK to return to the Cards List window. 7 Repeat from step 2 for each employee you pay electronically.

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Setting up MYOB Business Services

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Setting up MYOB Payroll Tax Forms

Your MYOB accounting software provides all the features necessary to prepare and print official copies of forms W-2 and W-3 at the end of the payroll year. If you register for MYOB's Payroll Tax Forms service, you can also prepare and print many state and federal payroll forms using information extracted from your company file. The payroll tax forms that you prepare using your MYOB accounting software can be filed in several formats, depending on the type of form and the requirements of state and federal law. You must register if you want to take advantage of MYOB's Payroll Tax Forms service. In demonstration mode, you'll be able to prepare all your state and federal forms, but a large watermark will be printed across each form.
NOTE : W-2 and W-3 forms You do not need to register for the MYOB Payroll Tax Forms service to file W-2 and W-3 forms. These forms will not be printed with a watermark. However, if you want to electronically file these forms, you need to register for the eFile service. For more information, open the online help and choose Topics > Reports and forms > Working with payroll tax forms > Registering to eFile payroll tax forms.

To register
1 Go to the Payroll command center and click Prepare Payroll Tax Forms. The Select Payroll Tax Form window appears. 2 Click Register. The Payroll Tax Forms Registration window appears. 3 Decide how you want to register: If you want to register by phone, call the number on the window. An MYOB representative will take your registration information and provide you with a registration code. If you want to register online, ensure that you are connected to the Internet. Click Register Online and complete the online registration process. Your registration code and instructions will be emailed to you. Once registered, your MYOB accounting software will remind you each year to renew your registration.

To enter your registration code

When you have registered for MYOB Payroll Tax Forms, you need to enter the registration code. For more details, open the online help and choose Topics > Reports and forms > Working with payroll tax forms > Registering for the MYOB Payroll Forms services > To enter Payroll Tax Forms registration codes.

Registering to use MYOB Payroll Tax Forms

You can register for MYOB Payroll Tax Forms by phone or online. Before registering, you need to set up your payroll information. See Setting up payroll details on page 27.

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To update your MYOB Payroll Tax Forms

Most of the state and federal forms that you prepare require periodic updates to ensure that you are always using the most current versions. You will be notified, every three months, which forms are out of date, and given the opportunity to update them. You can elect to update all of your forms or any combination of forms you need. In addition to the latest versions of the forms, your updates will include any new Payroll Tax Forms features that have been implemented since your last update.

MYOB eFile
MYOB eFile service allows you to file your forms electronically. You need to register before you can use this service. You can do this from within the Payroll Tax Forms system, or by visiting the MYOB eFile Center on the web. For more information, open the online help and choose Topics > Reports and forms > Working with payroll tax forms > Registering to eFile payroll tax forms.

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3 Banking
This chapter shows you how to record the checks you have written, the checks and credit card payments you have received, your credit card purchases, your credit card payments and your ATM and Internet banking withdrawals and transfers. MYOB accounting software can handle any number of bank and credit card accounts and allocate them to as many accounts as you like. If you are familiar with multi-column cashbook systems, you can think of your MYOB accounting software as having the capacity to run multiple cashbooks with many columns.

Receiving money
In your MYOB accounting 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. In the Receive Money window, you can record credit card payments, electronic payments, cash payments and check payments. Note that in MYOB accounting software, invoices are processed separately through the Sales command center. Payments received against invoices you have issued need to be entered using the Receive Payments window or by selecting the Receive Payment transaction type in the Bank Register window. See Receiving payments on page 71 for more information. The options for recording receipts and invoice payments are summarized in the following diagram.
You receive money

No

Is it in response to an invoice you issued?

Yes

Option 1 Record the payment in the Receive Money window [Banking command center]

Option 1 Record the payment in the Receive Payments window [Sales command center]

Option 2 Record the payment in the Bank Register window [Banking command center] Type = Receive Money

Option 2 Record the payment in the Bank Register window [Banking command center] Type = Receive Payment

41

Printing payment receipts You can print payment receipts for payments entered in the Receive Money and Bank Register windows. For more information, see Printing payment receipts on page 50. MYOB BUSINESS SERVICES

2 Choose one of the following: Deposit to AccountIn the Deposit to Account field, type or select the required bank account. Group with Undeposited FundsChoose 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 43. 3 In the Payor field, type or select the payors name. 4 In the Amount Received field, type the amount received. 5 [Optional] In the Payment Method field, select the payment method. 6 [Optional] If you want to record additional details about the transaction, such as a check number, click Details and record the details in the Applied Payment Details window that appears. 7 [MYOB Merchant Account Service users only] If you received a credit card payment, process the credit card payment. For more information, see To enter a credit card payment on page 54. 8 Type the date of the transaction. 9 [Optional] Type a detailed comment in the Memo field to help you identify the transaction later.

MYOB Business Services is a set of subscription services that you can use to process credit card payments from customers, send electronic payments to vendors and/or deposit paychecks for your employees over the Internet directly from your MYOB accounting software. With the MYOB Merchant Account Service, you can authorize customer credit card payments online using your MYOB accounting software. For more information, see Setting up MYOB Business Services on page 34.

To receive money
There are two ways to record money you have received where no invoice was issued: in the Receive Money window in the Bank Register window. The Receive Money window lets you record more details about the receipt and allocate the receipt to more than one account. This is the procedure covered in this section. If you want to use the Bank Register windowwhich lets you record a receipt with minimum detailssee To enter a transaction in the Bank Register window on page 48. 1 Go to the Banking command center and click Receive Money. The Receive Money window appears.

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10 Allocate the amount to the appropriate account or distribute it to a number of accounts.

A B C D

11 [Optional] If you use categories, select a category type in the Category field. 12 If you want to store the transaction as a recurring transaction so that you can use it again, click Save as Recurring. In the Edit Recurring Schedule window, enter the necessary information and click Save. For more information about creating and using recurring transactions, see Recurring transactions on page 133). 13 Click Record.

A B

Type or select the account to which you want to assign the deposit. 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. [Optional] Assign the amount to a job by entering the job code here. [Optional] Type a memo for each line item you enter in the transaction.

C D

Preparing a bank deposit

When you receive a customer payment that you want to deposit in a batch (such as your daily check payments), you need to post the payment to a temporary holding account until you create a batch 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 the payment. When you are ready to record the batch bank deposit, you can use the Prepare Bank Deposit window.

To prepare a bank deposit

1 Go to the Banking command center and click Prepare Bank Deposit. The Prepare Bank Deposit window appears.

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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, select one or more payment types. (For credit cards, select one or more credit card types.) Only payments made using that method are listed. 4 Type a date to display undeposited funds up to and including that date. 5 [Optional] Type a description of the bank deposit in the Memo field. 6 Select the receipts you want to include in the bank deposit by clicking in the Deposit column next to them. Alternatively, if you want to select or deselect all receipts, click ( ) at the top of the Deposits column. 7 [Optional] If you need to enter an adjustment transactionfor example, to record credit card transaction fees or to keep part of the deposit as cashclick 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 Enter the adjustment amount. b Type the date and an ID number. c Select an expense or income accountas appropriatefor 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.

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Spending money
In MYOB accounting software, the term spending money refers specifically to recording payments for transactions for which a purchase has not been recorded. These include equity drawings, bank charges, telephone bills and so on. These types of payment can be entered using the Spend Money window or by selecting the Spend Money transaction type in the Bank Register window. The 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 windowwhich lets you record a payment with minimum detailssee To enter a transaction in the Bank Register window on page 48. If you want to make payments to vendors for purchases entered using the Purchases command center, use the Pay Bills window or select the Pay Bill transaction type in the Bank Register window. For more information on how to pay a vendor, see Paying bills on page 92. The options for recording payments are summarized in the following diagram.
You pay money (other than salaries and wages)

No

Is it in response to a purchase recorded in the Purchases command center?

Yes

Option 1 Record the payment in the Spend Money window [Banking command center]

Option 1 Record the payment in the Pay Bills window [Purchases command center]

Option 2 Record the payment in the Bank Register window [Banking command center] Type = Spend Money

Option 2 Record the payment in the Bank Register window [Banking command center] Type = Pay Bill

MYOB Vendor Payments

MYOB Vendor Payments is a subscription service you can use to pay your vendors over the Internet directly from your MYOB accounting software. For more information, see Setting up MYOB Business Services on page 34.

User Guide

Spending money

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To record money you spend

1 Go to the Banking command center and click Spend Money. The Spend Money window appears.

3 Fill in the information in the check area of the window, just as you would if you were writing a paper check.

4 If you want to change the default payee address, type or select the payees address in the Payee field. 5 Allocate the payment to the appropriate account.
A B C D

Enter the account to which you want to assign the check amount. Type the allocation amount here. [Optional] Assign the check amount to a job by entering the job code here. [Optional] Type a memo for each line item you enter in the transaction.

2 Specify how the payment is to be made. If you are paying the vendor electronically using MYOB Vendor Payments, click Group with Electronic Payments.

B C
D

If you are paying the vendor by some other meanssuch as by cash, check, credit card or Internet bankingtype or select the account you are paying from in the Pay from Account field.

6 If your payment covers more than one account, repeat step 5. You would do this, for example, when paying for a purchase with a number of different types of purchases on it: postage, magazines, stationery, etc.
NOTE : Recap transaction Before you record a transaction, you can use the recap transaction feature (choose Recap Transaction from the Edit menu) to view the journal entries that will be created when the transaction is recorded. This is useful for confirming that the journal entries are being posted to the correct accounts.

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7 If you want to assign the payment to a particular category, select a category from the Category list. For more information about categories, see Tracking financial information on page 207. 8 If you are paying by check and have already written a check, select the Check Already Printed option. 9 If you want to store the payment as a recurring transaction, click Save as Recurring. The Edit Recurring Schedule window appears. Enter the necessary information and click Save. For more information about saving and using a recurring transaction, see Recurring transactions on page 174. 10 If you want to send a payment notification in a batch, select a payment notification option from the Payment Notification Delivery Status list.

After you have recorded a number of payments, say, the days payments, you can print or email a transaction batch. For more information, see Sending forms on page 197. 11 If you want to print a check or payment notification now, click Print and select the form type you want to print. Note that the payment is recorded before it is printed. 12 Click Record.

Paying vendors electronically

When you have recorded the payments you want to pay using MYOB Vendor Payments, you need to prepare an electronic payment. For more information, see Preparing electronic payments using MYOB Vendor Payments on page 95.

Entering transactions in the Bank Register window

You can enter the following transactions in the Bank Register window: checks, deposits, payments to vendors, payments from customers, sales and purchases. The main advantages of using the Bank Register window to enter transactions instead of using transaction windows such as Spend Money are speed and convenience. For example, you can record a customer payment, pay a bill and then write a check without having to open multiple windows and switch between them. As transactions can be recorded with minimum detail, you save time when entering a batch of transactions. Note that you cannot use the Bank Register to: record electronic payments using MYOB Vendor Payments record payments to vendors who you want to print or email payment notification to. You need to enter the above transactions through the Spend Money window, see To record money you spend on page 46.
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 58.

User Guide

Entering transactions in the Bank Register window

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To enter a transaction in the Bank Register window

1 Go to the Banking command center and click Bank Register. The Bank Register window appears.

9 If you want to allocate the amount to only one account, specify in the Account field the account that will be used for this transaction. If you want to allocate the amount to more than one allocation account, click Split. The corresponding transaction window will appear, and you can then allocate the amount to multiple accounts of your choice. Note that you can also click Split to: apply payments to a particular invoice or bill enter the payment method print the transaction.
NOTE : When the Split button is not available If the transaction type is Enter Sale or Enter Purchase, Split is not available. To open the transaction window, you will need to record the transaction, then click the zoom arrow ( ) next to the transaction in the Bank Register window.

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 If you select Pay Bill, Spend Money or Enter Purchase from the Type list, enter a check number (or other transaction reference) in the Check # field. 5 If you select Receive Payment, Receive Money or Enter Sale from the Type list, enter a transaction reference in the adjacent ID # field. 6 In the Date field, type the date of the transaction. 7 In the Card field, type or select the card for this transaction. 8 In the Amount field, enter the total amount of the transaction, including tax.

10 If you are entering a sale or a purchase, select the appropriate tax code in the Tax field. 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 Bill and Receive Payment transactions types. 12 [Optional] If you want to record the purpose of the transaction, type a description in the Memo field. 13 [Optional] If you use categories and want to assign the transaction to a category, select a category from the Category list. Note that this in not applicable to Receive Payment and Pay Bill transaction types. For more information about categories, see Tracking financial information on page 207. 14 If you want to print the transaction, click Print.

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15 If you want to store the transaction as a recurring transaction, click Save as Recurring. In the Edit Recurring Schedule window, enter the necessary information and click Save. Note that this option is available only for Spend Money and Receive Money transactions types.

For more information about saving and using recurring transactions, see Recurring transactions on page 174. 16 Click Record.

Transferring money between accounts

You can transfer money between bank accounts, including bank and credit card accounts, using the Transfer Money window.

To transfer money between accounts

1 Go to the Accounts command center and click Transfer Money. The Transfer Money window appears. 2 Enter a date for the transfer. 3 In the Transfer Money From field, enter the account from which the funds will be paid. 4 In the Transfer Money To field, enter the account to which the funds will be paid. 5 In the Amount field, enter the amount to be transferred. 6 If you want to record the purpose of the transaction, type a description in the Memo field. 7 If you want to assign the transaction to a particular category, select the category from the Category list. For more information about categories, see Tracking financial information on page 207. 8 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 174. 9 Click Record.

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Tracking petty cash expenses

Most businesses keep a small amount of cash handy at the office for miscellaneous expensespostage, staff amenities, and so on. You can track this petty cash amount separately by using a petty cash account, and allocating any miscellaneous expenses to that account.

To allocate expenses to the petty cash account

Lets assume you spent $90 on stationery and $10 on postage from your petty cash account. You would record this transaction in the following way. 1 Go to the Banking command center and click Spend Money.

To transfer money to your petty cash account

1 Go to the Accounts command center and click Transfer Money. The Transfer Money window appears. 2 In the Transfer Money From field, type or select the account from which the funds will be paid. 3 In the Transfer Money To field, type or select the petty cash account. 4 Enter the amount and then click Record.

2 In the Pay from Account field, select the Petty cash account. 3 Enter the date and amount of the transaction. 4 Enter the transactions as line items and allocate them to the relevant expense account (in this example, the Office Supplies account and the Postage account).

5 Click Record.

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Recording miscellaneous transactions

To void a check
If you find that one of your check forms is damaged and not usable for printing or that you have made a mistake when writing the check manually, you may want to void a check. Follow the steps below to void a check that you have not recorded in MYOB accounting software. If you want to make changes to a check you have already recorded, see Changing a transaction on page 172. 1 Go to the Banking command center and click Spend Money. The Spend Money window appears. 2 Choose the checking account from which you want to void the check. 3 In the Check # field, type the number of the check you want to void. 4 Leave the Amount field and the account allocation fields blank. 5 Click Record, then click OK to confirm that you want to void the check. 4 Complete the other fields in the window. 5 Click Record.

To record Internet, ATM or phone-banking transfers

NOTE : Vendor payments If you are entering a payment to a vendor for a recorded purchase, you should enter it in the Pay Bills window. See Paying bills on page 92.

1 Go to the Banking command center and click Spend Money. The Spend Money window appears. 2 Select the account from which you transferred money. 3 In the Check # field, enter a phrase to describe the transfer. That way you will know the transaction isnt an actual check when you view it in a list or on a report. This will also allow you to skip the transaction when you print a range of numbered checks. 4 If you want to link the transaction to a card, type or select a card in the Card field. 5 Complete the other fields in the window. 6 Type the receipt number in the Memo field.

To record ATM withdrawals

1 Go to the Banking command center and click Spend Money. The Spend Money window appears. 2 Select the account from which you withdrew money. 3 In the Check # field, enter a phrase to describe the withdrawal. That way you will know the transaction isnt an actual check when you view it in a list or on a report. This will also allow you to skip the transaction when you print a range of numbered checks.

7 Click Record.

To handle a chargeback
A chargeback is a transaction that is started when a customer disputes a credit card charge and refuses to pay the credit card company for the charge. The credit card company then denies payment to the credit card processor who handled the

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transaction. The processor will then deduct the disputed amount from your merchant account. To handle a chargeback, we recommend that your transactions are set to be unchangeable. You can do this by going to the Setup menu, choosing Preferences, clicking the Security tab and selecting the Transactions CANT be Changed; They Must be Reversed option.

1 Find the payment that is being charged back to you. If you selected the preference to make contact log entries for credit card payments (go to the Setup menu, choose Credit Card Processing and then click Set Up Credit Card Processing), you may be able to locate the transaction using the Authorization Code or Trace ID information found in the contact log. 2 Reverse the payment. See Reversing a transaction on page 173 to complete the task.

Credit card purchases and payments to credit card providers

Recording purchases made using a credit card
The method you use to record a purchase made using a credit card depends on whether you have entered a purchase for the transaction using the Purchases window. If you have, then record the payment in the Pay Bills window. If you have not entered a purchase, record the credit card purchase in the Spend Money or Bank Register window. Before you begin recording credit card purchases, create a credit card account for each credit card you will use. Name the accounts VISA, American Express, etc. These accounts will keep track of the amount owed to the credit card provider. For information on creating an account, see To add an account to your accounts list on page 152. 2 In the Pay from Account field, type or select the credit card account you want to use.

3 In the Vendor field, type or select the vendors name. 4 Type the purchase amount in the Amount field. 5 Change the memo and payment date if necessary. 6 In the scrolling list in the bottom half of the window, indicate which bills are covered by the payment by entering the payment amounts in the Amount Applied column. 7 Click Record.

To record a credit card purchase in the Pay Bills window

1 Go to the Purchases command center and click Pay Bills. The Pay Bills window appears.

To record a credit card purchase in the Spend Money window

1 Go to the Banking command center and click Spend Money. The Spend Money window appears.

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2 In the Pay from Account field, type or select the credit card account you want to use.

To record a payment to a credit card provider

1 Go to the Banking command center and click Spend Money. The Spend Money window appears. 2 In the Pay from Account field, select the bank account you want to use to make this payment. 3 In the Card field, type or select the credit card providers name. 4 Type the payment date in the Date field. 5 Type the amount you want to pay. 6 Type a comment in the Memo field to provide a brief description of the payment you are recording. 7 In the scrolling list area of the Spend Money window, enter the liability account you have created to track purchases made with this credit card. 8 Click Record to record the credit card payment.

3 Type the date, amount and payee. 4 Type a comment in the Memo field to provide a brief description of the purchase you are recording. 5 Allocate the payment to an account. This is usually an expense account. 6 Click Record to record the credit card purchase.

Recording payments to credit card providers

When the time comes to pay your credit card provider, you use the Spend Money window to record a payment from your bank account to your credit card account.

Credit card payments using the MYOB Merchant Account Service

If you are subscribed to the MYOB Merchant Account Service, you can process your customers credit card payments online using your MYOB accounting software. You can process payments for American Express, Discover, MasterCard and VISA credit cards. For more information on subscribing to the MYOB Merchant Account Service, see Setting up MYOB Business Services on page 34. You can also void a credit card payment using the MYOB Merchant Account Service, provided you do so within a specified period. For more information, see Voiding MYOB Merchant Account Service credit card payments on page 57.

Processing credit card payments using MYOB Merchant Account Service

You can process credit card payments for the following transaction types: receive money receive payments sales (invoices and orders) sales returns and credits. With the MYOB Merchant Account Service, you can authorize your customers payments immediately by using the Automated

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Clearing House (ACH) to clears credit card transactions for payments. If you do not use the card swipe feature, you can set your MYOB Business Service preferences to authorize and process credit card payments when you click Record (instead of Authorize). You can set this preference in the MYOB Business Services Setup window (from the Setup menu, choose Credit Card Processing and then Set Up Credit Card Processing).
Getting a phone authorization code If you cannot access the

3 Click Details to enter details about the payment. The Applied Payment Details window appears. 4 If you want to update the customer card with the details entered in this window, select the Update Customer Card with Payment Details option. This saves you having to enter the details each time you process a credit card payment for the customer.
NOTE :

Entering Cardholder Verification Value code (CVV2)

Internet or require additional authorization, you can authorize payments by entering a phone authorization code. To obtain a phone authorization code, call the Voice Authorization Center and provide your MYOB Merchant Account Service identification details. The Voice Activation Center contact details and your identification details were provided to you when your service application was approved.

The CVV2 is a unique three-digit code printed on credit cards. If the purchaser cannot provide this number, the transaction may be fraudulent. For security reasons, your MYOB accounting software does not save this number. You must enter it for each transaction.

CHOOSE THE CARD ENTRY METHOD

5 If you are entering the credit card details manually: a In the Card Entry Method field, select Manual. b Enter all the credit card details: card number, expiration date, name and so on. c Continue from step 7 below. 6 If you use a credit card swiper: a In the Card Entry Method field, select Swipe. b Click Swipe Card. The following window appears.

To enter a credit card payment

1 Open the transaction window in which youll make the payment and enter the transaction details. For more information on entering details for: receive money transactions, see Receiving money on page 41 receive payments transactions, see Receiving payments on page 71 sales transactions, see Entering sales on page 61 sales return and credits transactions, see Creating customer credits on page 77. 2 In the transaction window, select the customers credit card type from the Payment Method list.

c Swipe the credit card.

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The credit card information appears in the Applied Payment Details window.

contact the Voice Authorization Center to authorize a payment. Once you have contacted the authorization center, repeat from step 7 above to complete the authorization. the authorization is declined, see Declined authorization below the authorization is not responding, see Timed-out authorization on page 56 you want to void the credit card payment, see Voiding MYOB Merchant Account Service credit card payments on page 57. 9 Click OK to close the Applied Payment Details - Read Only window. 10 Click OK to close the transaction window.

7 Select your authorization type. If you are authorizing a payment using the Internet, select Standard Sale from the Authorization Type list. If you are authorizing a payment using the phone authorization option, select Phone/Force from the Authorization Type list and enter the six-digit phone authorization code.
NOTE : Entering an incorrect Phone Authorization Code A charge may apply if you process a credit card payment with an incorrect phone authorization code.

Declined authorization
Authorization for credit card payments using the MYOB Merchant Account Service may be declined by the Automated Clearing House (ACH) if the credit card has been recorded as lost or stolen. When an authorization is declined, the following window appears.

8 Click Authorize. The credit card details are sent for authorization and a payment is recorded in your company fileregardless of the result of the credit card authorization. When the credit card has been successfully authorized, the Applied Payment Details - Read Only window appears with the authorization details. However, if: additional authorization details are required (such as when credit card holders exceed their purchase limit), you need to

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After closing the window, you can: re-enter the payment details (for example, using another credit card) use another payment method (for example, check or debit card) reverse or delete the payment (depending on how your preferences are set up in the Security tab of the Preferences window).

NOTE :

Is the sale still applicable? If the original sale is no longer applicable because of the declined payment, remember to reverse or delete the sales transaction. For more information, see

Reversing a transaction on page 173 or Changing or deleting a transaction on page 171.

Timed-out authorization
When authorization over the Internet is not completed within the time allowed, the authorization process is timed-out and the following window appears.

To finalize a declined authorization

1 In the Processed Receipt window, click Close. The payment transaction window reappears.
NOTE :

Finalizing authorization for an invoice transaction

When you click Close, a window appears describing your processing options. In this window, click OK to finalize the payment authorization now. The Receive Payments window appears.

A time-out can occur during busy network periods or when your connection to the internet is interrupted. Because authorization has been interrupted, the transaction may or may not have been processed. For example, it is possible that a payment transaction was authorized, but a delay caused it to time-out before an authorization number was assigned. In this example, the transaction has been authorized for payment by the Automated Clearing House (ACH), but its status may be recorded as declined in your company file. Before you deal with a timed-out status, you need determine the processing status of the timed-out authorization.

2 Choose the appropriate action from the following table:

To... Re-enter the payment details. Use another payment method (not credit card). Reverse (or delete) the payment. you need to... Repeat the payment processing from step 3 on page 54. Go to step 4 on page 42 (for a Receive Money transaction) or step 5 on page 72 (for a Receive Payments transaction). Go to the Edit menu and choose Reverse Payment (or Delete Payment). For more information, see Reversing a transaction on page 173 or Changing or deleting a transaction on page 171. Click Cancel. When you are ready to finalize the payment, you can use one of the actions listed above.

Finalize the payment later

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To deal with a timed-out authorization

NOTE : Is the Internet available? You can only deal with timed-out authorizations if you can connect to the Internet. If you cannot connect, try again later.

Voiding MYOB Merchant Account Service credit card payments

Credit card transactions that have been authorized using MYOB Merchant Account Service can be voided within a certain period. You may need to void a payment if a customer no longer wants to purchase the product and you have already authorized the payment. You will know if a transaction has been authorized when an Authorization Code and Trace ID appear in the Applied Payment Details window. Youll also see that the Authorize button has been changed to a Void Authorization button. If you try to void an authorized transaction after the set period, the void transaction will be declined and you will have to process a credit transaction.

1 Access the Payments Gateway service by either: Clicking Login to Payments Gateway. Going to the Setup menu, choosing Credit Card Processing and then Visit Payments Gateway. 2 In the Payments Gateway website, click Merchant Login and enter your merchant ID, username and password. For more information, see To apply for MYOB Business Services on page 35. 3 Use the service to generate a report of the days credit card transactions. 4 Locate the transaction that has timed-out and take the appropriate action based on the status of the transaction: If the transaction has not been processed, you can either: reprocess the payment authorizationsee step 8 on page 55 use another payment methodsee step 4 on page 42 (for a Receive Money transaction) or step 5 on page 72 (for a Receive Payments transaction). If the transaction has been processed and authorized, you do not need take any further action. However, note that this transaction, although processed, has a declined status in your company file. When you prepare your bank deposit, remember to include this transaction.

To void an MYOB Merchant Account Service transaction

1 Find the credit card payment transaction that has been authorized and approved. 2 Click Details to open the Applied Payment Details window. 3 Click Void Authorization to start the voiding process. (Once a payment has been authorized, the Authorize button no longer appears but is replaced by the Void Authorization button.) When the void process is complete, you will receive a message advising you that the transaction has been voided or that the void authorization has been unsuccessful. If the void authorization has been accepted, the voided transaction will be reversed or deleted. Whether the transaction is reversed or deleted depends on whether your company file transactions can be changed. See Changing a transaction on page 172 or Deleting a transaction on page 172.

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If the void authorization is declined, you will receive a message that the transaction has been declined. A void authorization will be declined if, for example, the allotted time for voiding has passed. 4 Click Close to close the Processed Receipt window.

5 Decide what you want to do with the sale: If the void authorization has been accepted, the payment no longer affects the sale; the payment has been reversed or deleted. At this time, you can accept a new payment for the sale or you can reverse or delete the sale. If the void transaction has been declined, you will need to refund the customer the value of the transaction. See To apply a customer credit to an open invoice on page 78.

Importing statements
If you do your banking online, you can use the Get Statement feature to import bank statement or credit card statement files. Your MYOB accounting software automatically matches transactions on your statement with transactions entered in your company file. Matched transactions will be marked as cleared for reconciliation, making it easy for you to reconcile your accounts at month-end. Some transactions on your imported statement may not match transactions in your company file. You can manually match these transactions during the import. If your business uses multiple currencies and your bank provides foreign currency statements in the OFX file format, you can to import these statements using the Get Statement feature.

To import your statement

NOTE : Download your statement Before you can import your bank or credit card statement, you need to download the statement file from your bank. Your banks website should provide instructions on how to download this file. The following file formats are supported: OFX, QFX, QIF and OFC.

1 Go to the Banking command center and click Bank Register. The Bank Register window appears. 2 In the Account field, type or select the account that corresponds to the bank or credit card statement. 3 Click Get Statement. The Open window appears. 4 Locate and select the downloaded statement file. 5 Click Open. The Get Statement window appears.

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6 Click OK. The statement transactions are automatically matched with the transactions in your company file using the check number, date and amount as the criteria for matching withdrawals and deposits. If there are unmatched transactions, the Unmatched Statement Transactions window appears. Go to step 7. If all your transactions match, thats it. These transactions will be marked as cleared in the Reconcile Accounts window. You can ignore the rest of this procedure. 7 Choose what you want to do with the unmatched transactions. If you want to match a transaction, select the transaction and click Match Transaction. The Match Transaction window appears, listing the uncleared transactions in your company file for the specified account. Select the transaction that you want to match with the statement transaction and click Match. The transaction will be marked as cleared.

If you want to add a transaction to your company file, select the transaction and click Add Transaction. The Spend Money window or the Receive Money window (depending upon the type of transaction you are adding) appears. Enter the details of the transaction and record it. The transaction will be marked as cleared. 8 Repeat step 7 for each unmatched transaction.
CAUTION : Match or add all transactions We recommend you finish adding or matching every transaction in the unmatched transaction list before you click Done. If you re-open the statement file, the original list of unmatched transactions reappears in the Unmatched Statement Transactions window.

9 When you have finished matching and adding transactions, click Done. A list of all the transactions that were cleared appears.

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4 Sales
This chapter explains how to enter information about sales to your customers. You record a sale by specifying the customers 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 analyze all sales activities with a variety of reports and other analytical tools.

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 inventory 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 dont affect your financial figures, they do affect your committed inventory numbers. Orders dont create transactions unless the customer has paid you a deposit. An order can be changed to an invoice. An Invoice is usually created when you deliver the items or services the customer ordered. It will update the appropriate accounts, including the account for tracking receivables. Invoices can be open (unpaid), closed (paid) or credit (negative sale). An invoice cant be changed to a quote or an order. You can enter a sale in the Sales window and the Bank Register window. Entering a sale in the Sales windowthe procedure discussed in this chapterallows 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 48.

Entering a sales transaction

Complete the following steps to enter a sales transaction:
Step 1 2 3 4 5 Action Enter information about the customer. Choose the type of sale. Enter the items or services you are selling. Enter additional information about the sale. Complete the sale. See page 62 page 62 page 62 page 64 page 64

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Step 1: Enter information about the customer

1 Go to the Sales command center and click Enter Sales. The Sales window appears. 2 In the Customer field, type or select the customers name and press TAB.
NOTE : 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 74.

Step 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 customers 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. b Select the appropriate layout and click OK.
NOTE :

The terms and ship-to address shown in the Sales window are the details recorded in the customers card. 3 Complete the fields as described in the table below:
B D

Miscellaneous layout The Miscellaneous layout is used only for sales where a printed form is not needed.

2 Select the status from the drop-down list in the top left corner of the window: Quote, Order or Invoice.

If you want to change a customers shipping address, click the down arrow next to the Ship to field and select another address from the customers card. Alternatively, type the address in the Ship to field. Click the zoom arrow ( ) to alter the credit terms for this sale only. Note that if you want to change the credit terms for all future sales to this customer, you must make that change on the Selling Details tab of the customers card. If the customer gave you a purchase order for this transaction, enter that purchase order number here. Type the invoice number here or accept the default number.

Step 3: Enter the items or services you are selling

The scrolling list in the middle of the Sales window is where you enter details of what you are selling. In this area you enter item numbers, activity ID numbers, descriptions, account numbers (or names depending on your selection in the Preferences window) and other information to describe the transaction. One row in the scrolling list is one line item of the transaction. You can enter as many line items for a sale as you want. The fields that appear in the scrolling list differ depending on the layout you are using.

C D

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The following illustration briefly describes the line-item entries you can make for a sale with an Item layout and an Invoice status.
Item

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.
Service

A
A B Ship

J A B C D E

Type the quantity to be delivered. Type the quantity of the item to be placed on backorder. An order for this amount will be created automatically when you click Record. A B C D E Description Enter a description of the goods or services being sold. Acct# or Enter the account to which to allocate the sale. Account Name Amount Job Tax Type the amount you are charging for this service [Optional] Type or select a job number to assign a line item to a job. If the line item is taxable, mark the Tax column.

Backorder

C D E

Item Number Type your item number or select it from your item list. Description Location A description of the item appears automatically. You can change this if you want. If you sell this item from multiple locations, select the location where the item will be sold from. This field appears only if you have more than one location. For more information, see Multiple inventory locations on page 139.

NOTE :

Add lines, subtotals and headers to sales transactions

F G H I J

Price Disc% Total Job Tax

The price of the item appears automatically. You can change the price if you want. [Optional] Enter a volume discount as a percentage. The total price of the items is calculated automatically. [Optional] Type or select a job number here to assign a line item to a job. If the line item is taxable, mark the Tax column.

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 67.

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Step 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.

If you subscribe to the MYOB Merchant Account Service, you can authorize and process credit card payments immediately. For more information, see Processing credit card payments using MYOB Merchant Account Service on page 53.
MYOB Merchant Account Service
NOTE : Recap transaction Before you record a transaction, you can use the recap transaction feature (choose Recap Transaction from the Edit menu) to view the journal entries that will be created when the transaction is recorded. This is useful for confirming that the journal entries are being posted to the correct accounts.

D A

B
A Salesperson, Comment, Ship Via, Promised Date B C D E F

Enter optional information, such as the name of the salesperson, a comment, shipping method and the promised date for delivery of goods or services. Enter text or click the search icon ( ) to choose from the Select From List window.

Step 5: Complete the sale

After you have finished entering the details in the Sales window, there are several ways to complete the transaction. Record the sale. To record the sale without printing it, click Record (for a sales quote, click Save Quote). Record the sale and create a purchase order. If you created a sales quote or sales order and you want to purchase items from a vendor to fulfill the sale, you can convert the sale to a purchase order by clicking Create PO. The quote or order is recorded and the purchases window appears. For more information about creating purchase orders, see Entering purchases on page 83. Print and record the sale. If the sale you have created is an item, service, time billing or professional sale, you can print and record the sale at the same time by clicking Print. For more information about printing, see Chapter 13, Forms, starting on page 195. Record and email the sale. 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

Invoice Delivery If you want to print or email the invoice in a batch, Status select the required delivery method from the list. Journal Memo Tax Freight Paid Today The journal memo is generated automatically. You can change this text if you want. Click the zoom arrow ( ) if you want to view or change the tax amounts assigned to the sale. Enter freight charges. Select the option to the right of this field if tax is charged on the freight amount. 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. Type or select the payment method. Click Details if you want to enter details about the payment. For example, if you are being paid by credit card, you can record the credit card number and expiration date. Select the tax code for this purchase.

Payment Method

Tax Code

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Format) attachment, will be sent to the Outbox of your default email software. Send the email from your email software. Record and fax the sale. Click Send To and choose Fax. A window from your fax software appears. Send the fax as you normally do. Record and save the sale to disk as a PDF file. Click Send To and choose Disk. In the window that appears, enter a name and location for the PDF file and click Save.

Save the sale as a recurring sale. Click Save as Recurring. In the Edit Recurring Schedule window, enter the necessary information and click Save. When you save the sale as recurring, it is does not get recorded as a sale. To complete the sale, use any of the above methods. For more information, see Recurring transactions on page 174.

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. 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 table below:
Cost type Description

Allow the recording of sales with insufficient on-hand quantities

If you want, you can set a preference to allow the recording of sales with insufficient on-hand quantities. With this preference set, the sale of an item that is not in stock results in a negative on-hand item quantity and value.
NOTE :

Average cost Average cost is used if you have sufficient on-hand stock for which an average price can be determined. For example, if you have ten units of an item on-hand, but make a sale for 12 units, average cost is based on the value of the ten units in stock. Last Cost Last cost is used if the average cost in unavailable. For example, if you have purchased an item before but currently have none on-hand, the last purchase price is used. Standard cost is used if you have never purchased an item before, and you have entered a standard cost in the item information card. Zero cost is used if you have never purchased the item before and you select this option when recording the sale.

This feature affects your inventory reporting Allowing negative item amounts to be recorded in your inventory affects the reporting of inventory values and cost of goods sold. This feature may not be suitable for some businesses. Consult your accountant, financial adviser or MYOB partner before setting this preference.

Standard Cost Zero cost

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.

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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 Inventory tab and select the Allow the Sale of Items with Insufficient On-Hand Quantities option.

3 Click Record. If you have insufficient on-hand quantities of an item, the Backorder List window appears.

Build, buy or backorder items

If you attempt to record a sales invoice with an insufficient onhand quantity (see Complete the sale on page 64), and you dont 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.
NOTE : Auto-building or recording bills in the Backorder List window 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 142. If you want to record a bill using this window, you need to enter a default vendor for the item. For more information, see Creating items on page 134.

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... Auto-build items Do this... 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. Click Build Items. The Build Items window appears. Click Record to build the finished item. Click in the Buy column next to the item you want to purchase and then click Buy. The Enter Purchases window appears. Select Bill as the status from the drop-down list in the top left corner and complete the purchase. For information about completing the purchase, see Entering purchases on page 83. Click in the Backorder column next to the item you want to place on backorder. Click Backorder. The Sales window reappears with the Ship and Backorder columns adjusted. A sales order is automatically recorded for the item when you record the invoice.

2 3 Record a bill 1

To build, buy or backorder items in the Backorder List window

1 Go to the Sales command center and click Enter Sales. The Sales window appears. 2 Enter the details of the sale. For more information, see Entering sales on page 61.
Record a sales order

1 2

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NOTE : Multiple items with insufficient quantities You can use the Backorder List window to perform the following tasks: build, buy or backorder. However, you can only perform one of these tasks at a time and in the following order: build, buy and then backorder. For example, if you want to backorder some items and buy others, you need to buy the required items first and then return to this window (by clicking Record in the Sales window again) to complete the backorder.

3 Type the text for the header. The text appears in gray.

4 Press TAB to complete the header entry.

To insert a subtotal
1 In the Sales window, click in the line below the items to be subtotaled. 2 Go to the Edit menu and choose Insert Subtotal. A line appears displaying the subtotal of the amounts that appear above the subtotal line and below the last subtotal, if there is one.

5 Complete the sale. For more information, see Complete the sale on page 64.

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.

To delete a blank line, line item, header or subtotal

1 In the Sales window, click anywhere in the blank line, line item, header or subtotal you want to delete. 2 Go to the Edit menu and choose Delete Line.

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.

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Changing the status of a sale

The following sale types can be converted.
Sale type Quote Can convert to Order order invoice purchase order invoice purchase order See: To convert a quote to an order or invoice, below. To convert a quote or an order to a purchase order on page 69. To convert an order to an invoice on page 68. To convert a quote or an order to a purchase order on page 69. Invoice The status of an invoice cannot be changed.

3 Make any changes you want to make in the window. For example, you may want to change the transaction date to todays date. 4 Click Record. The new order or invoice is created. 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.

To convert an order to an invoice

1 Go to the Sales command center and click Sales Register. The Sales Register window appears. 2 Click the Orders tab and select the order you want to convert. 3 Click Change to Invoice. The Sales window appears displaying the sale with an Invoice status. 4 Make any changes you want to make. For example, you may want to change the transaction date to todays date. 5 Click Record to record the invoice.

If you want to convert several orders simultaneously, see To simultaneously convert several orders to invoices below.

To convert a quote to an order or invoice

1 Go to the Sales command center and click Sales Register. The Sales Register window appears. 2 Click the 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. The Sales window appears displaying the sale with an Order or Invoice status.

To simultaneously convert several orders to invoices

1 Click To Do List from any command center. The To Do List window appears. 2 Click the Orders tab to display a list of all your orders. If you want to view the details of a specific order, click the zoom arrow ( ) to the left of the customers name.

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3 Select the orders you want to convert to invoices by clicking in the select column ( ). 4 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.

2 Locate and select the quote or order you want to convert: To convert a quote, click the Quotes tab and select the quote you want to convert. To convert an order, click the Orders tab and select the order you want to convert. 3 Click Create PO. The Purchases window appears, with the new purchase order displayed. 4 Make any changes you want to make. For example, you may want to change the transaction date to todays date, or add items to the order. 5 Click Record.

To convert a quote or an order to a purchase order

1 Go to the Sales command center and click Sales Register. The Sales Register window appears.

Reviewing your sales information

There are several tools that you can use to review your sales information.
Tool To Do List Analyze Receivables Analyze Sales Description The To Do List displays all open sales, recurring sales and orders sorted by overdue dates. The Analyze Receivables window displays aging information for all open invoices. The Analyze Sales window provides a graphical snapshot of your sales activities. See page 70 page 70 page 70 Tool Sales reports Sales history Description Sales reports help you keep track of your sales activities. History lets you view seven years of sales history for an item, a customer or an employee. See page 70 page 71 page 168

Sales Register The Sales Register window gives you a complete picture of your sales activityopen and closed invoices, orders, quotes, returns, credits and so on. Find Transactions Transaction Journal

Find Transactions helps you find individual sales page 168 transactions quickly. The Transaction Journal lists journal entries of your sales and other transactions. page 170

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To view a list of all unpaid sales sorted by days overdue

1 Click To Do List in any command center. The To Do List window appears. 2 Click the A/R tab. A list of all unpaid sales appears. The Overdue column shows the number of days an invoice is overdue. (A negative number in the Overdue column indicates that the payment is not yet due.) The number of days an invoice is overdue is calculated by checking the original date of the invoice, comparing it to todays date and looking at the customers 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 customers name. )

To analyze your sales activities

The Analyze Sales window provides various illustrationsas graphs or as listsof your sales activities. 1 In any command center, select Sales from the Analysis list. The Analyze Sales window appears. 2 Click Filters and choose the sales figures, time periods and other criteria you want to apply. 3 Click OK. The information you selected appears in the Analyze Sales window. 4 Select the display options in the Analyze 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 Receivables [Summary] report to view your customers current balances sorted by aging periods. The Sales [Item Summary] report shows you which inventory items are selling best. The Referral Source report is useful for finding out which referral source is bringing your business the most money. 1 Go to the Reports menu at the top of the screen and choose Index to Reports. The Index to Reports window appears. 2 Click the Sales tab. Select from the list of available sales reports. For information on displaying, customizing and printing your reports, see Chapter 12, Printing and customizing reports, starting on page 187.

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.

To analyze your receivables

1 In any command center, select Receivables from the Analysis list. The Analyze Receivables window appears. 2 Click Filters and choose the time periods and any other criteria you want to apply. 3 Click OK. The information you selected appears in the Analyze Receivables window.

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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 fiscal year (as displayed in the Company Information window), the current fiscal year and the next year.
NOTE : Employee sales history To record an employees sales history, you need to select that employee as the salesperson when you record a sale in the Sales window.

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 customers outstanding invoices. If you dont want to create an invoice for a customer, you can enter the customer payment in the Receive Money window. See To receive money on page 42. You can also record payments from your customers in the Bank Register window. If you have several customer payments and dont want to record detailed information (such as payment methods and discounts) for each payment, the Bank Register window can save you time. Note that when you use the Bank Register window for customer payments, the entire payment is automatically allocated to the oldest invoices first. You cannot use the Bank Register window to enter credit card payments using the MYOB Vendor Payments service. For more information, see Entering transactions in the Bank Register window on page 47. The options for recording receipts and invoice payments are summarized in the following diagram.
You receive money

No

Is it in response to an invoice you issued?

Yes

Option 1 Record the payment in the Receive Money window [Banking command center]

Option 1 Record the payment in the Receive Payments window [Sales command center]

Option 2 Record the payment in the Bank Register window [Banking command center] Type = Receive Money

Option 2 Record the payment in the Bank Register window [Banking command center] Type = Receive Payment

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 64.

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MYOB Merchant Account Service

If you subscribe to the MYOB Merchant Account Service, you can authorize and process credit card payments when you receive invoice payments. For more information, see Processing credit card payments using MYOB Merchant Account Service on page 53.

further details about the payment. For example, if you are being paid by credit card, you can record the credit card number and expiration date. 6 Change the memo text and payment date if you want. You can change the ID number that is automatically generated. However, we recommend that you use the default number to make sure you dont use duplicate IDs.

To record payments against invoices

1 Go to the Sales command center and click Receive Payments. The Receive Payments window appears. 2 Select the account you want to deposit the payment to. Deposit to Account. Select this option and select the required bank account.

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 Status column will show Order.

Group with Undeposited Funds. Select this option if you are receiving a credit card payment or 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, see Preparing a bank deposit on page 43. 3 In the Customer field, type or select the customers name. If you have no record of any sales to this customer, a message window appears. Click OK and ensure youve selected the correct customer. 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

A
A Discount

B C

If you intend to offer an early-payment discount for a sale, assign the discount to the appropriate invoice in this column. Note that you wont 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 Creating customer credits on page 77. Enter how much of the customer payment you want to apply to each sale in this column.

Amount Applied

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Finance Charge Out of Balance

If part of the payment is to pay finance charges, enter the finance charge amount here. See Finance charges on page 76 for more information. The amount you apply in the Amount Applied column will accumulate in the Total Applied field. The Total Applied amount (plus finance charges) must equal the Amount Received value and the Out of Balance amount must be zero before you can record the transaction.

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 78. 8 [Optional] If you use the MYOB Merchant Account Service, you can process a credit card payment using the service. For more information, see Processing credit card payments using MYOB Merchant Account Service on page 53. 9 Click Record to record the customer payment.

If a customer overpays, the full amount should still be entered in the Amount Received field and in the Amount Applied column.

Printing payment receipts

For each cash receipt transaction you record, a corresponding receipt can be printed. Receipt transactions can be recorded using the following windows: Bank Register Receive Money Receive Payments Sales (New Invoice and New Order using Paid Today) Settle Returns & Debits (Receive Refund view). Receipts cannot be printed for: Reversed receipt transactions Voided receipts Bank transactions such as bank deposits or interest earned. Payment receipts correspond directly to receipt transactions. That is, when you record a receipt transaction, the information you entered in the transaction can be printed on a payment receipt. Because of this relationship, if you change, reverse or remove a receipt transaction, the payment receipts that have been printed may no longer be valid. If youre a subscriber to the MYOB Merchant Account Service, you can print a credit card receipt in the Processed Receipt window after a credit card payment has been approved.

To print payment receipts

1 Go to either the Sales or Banking command center and click Print Receipts. The Review Receipts Before Printing window appears. 2 If you print receipts on preprinted stationery, type the number of the first receipt in the Number of First Receipt in Printer field. 3 Type the number of receipts you want to print in the Print field. 4 If you want to filter the information to be displayed on the customer receipt, click Advanced Filters. For more information, see Advanced filters on page 199.

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5 Click in the select column ( print. 6 Click Print.

) next to each receipt you want to

For more information about printing and customizing forms, see Sending forms on page 197 and Customizing forms on page 200.

Credit control
In your MYOB accounting 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 75 adding finance charges to customer statements, see Finance charges on page 76.

To set or change the credit limit for a single customer

1 Go to the Card File command center and click Cards List. The Cards List window appears. 2 Click the Customer tab and select the customer for whom you want to set a credit limit. 3 Click Edit. The Card Information window appears.

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 22) 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 customers credit limit prevent certain users from recording a sale that will exceed a customers credit limit. When you use this preference, you set an override password to allow approved users to record the sale.

4 Click the Selling Details tab. 5 Click Credit Limit & Hold. The Credit Limit & Hold window appears. 6 Type the customers 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.

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.

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3 Select the If the Credit Limit is Exceeded on Sale preference and choose Warn and Continue from the list. 4 Click OK.

To place a customer on credit hold

1 Go to the Card File command center and click Cards List. The Cards List window appears. 2 Click the Customer tab and select the customer whom you want to place on credit hold. 3 Click Edit. The Card Information window appears. 4 Click the Selling Details tab. 5 Click Credit Limit & Hold. The Credit Limit & Hold window appears.

To prevent the recording of a sale when a customer exceeds the credit limit
1 Log in to your MYOB accounting software as the Administrator. 2 Go to the Setup menu and choose Preferences. The Preferences window appears. 3 Click the Sales tab. 4 Select the If the Credit Limit is Exceeded on Sale preference and select Prevent Unless Overridden from the list. The Credit Limit Override Password window appears. 5 Type the override password and password confirmation. 6 Click OK. The Preferences window reappears.
NOTE : 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).

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.

7 Click OK to close the Preferences window.

Credit holds
You can place a credit hold on a customers account to prevent further sales being made to the customer. For example, you may want to place a customer on credit hold when the customers account is overdue.

NOTE : Recording sales to customers on credit hold To record a sale to a customer on credit hold, you need to remove the credit hold. To do this, deselect the Place this customer on Credit Hold option in the Credit Limit and Hold window on the customers card.

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Finance charges
Finance charges are amounts added to an outstanding balance as a penalty for late payment. A finance charge is added to a customers statement. The amount paid by a customer to cover the charge is then recorded in the Receive Payments window.
How finance charges are calculated For each open invoice, your MYOB accounting software calculates its due date using the terms specified in the Selling Details tab of the Card Information window. The overdue balance is then increased by 1/30th of the monthly charge for late payment for every day it is overdue.

To record a finance charge

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 224. 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 72. 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.

The monthly charge is calculated by multiplying the amount overdue by the % Monthly Charge for Late Payment value you specified in the customers card. If, during the overdue period, the customer makes a partial payment, 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 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.

Deleting finance charges

When you enter a finance charge in the Receive Payments window, two transactions are recordedthe full customer payment, including the finance charge, is recorded in the receipts journal and a transaction for the finance charge is recorded in the sales journal. Therefore, if you want to delete a finance charge payment, you must delete both transactions. If only one entry is deleted, the Receivables Reconciliation [Summary] report may show an out-of-balance amount equal to the finance charge. When you delete one of the entries, you are reminded to delete the other entry for the finance charge. Note that a warning appears even though you may have already deleted the corresponding invoice or payment.

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Creating customer credits

Recording credits
Before you create a customer credit 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 doesnt exist, you need to create it. For more information about creating an account, see To add an account to your accounts list on page 152. 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. 3 If you want, you can make a some changes to the credit note (such as changing the date and memo), but you cant 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.

To manually create a credit for a non-item sale

Use this method if you want to credit the customer for part of a non-item sale. 1 Go to the Sales command center and click Enter Sales. The Sales window appears. 2 Type or select the customer you are creating a credit for. 3 Select the Invoice status from the 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. 6 Select the account to be credited. This is normally an income account called Sales Returns and Allowances.

To reverse a sale
To reverse an invoice, the transaction must be unchangeable, that is, the Transactions CANT be Changed; They Must Be Reversed option must be selected in the Security tab of the Preferences window. 1 Find and open the invoice. For more information finding invoices, see Finding a transaction on page 168. 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.

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7 In the Amount field, type the amount of the credit as a negative amount.

5 In the Ship column, enter the number of items being returned as a negative number. The costs of the items appears as a negative amount.

8 Click Record. A customer credit appears in the Sales Register window.

6 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 center 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 drop-down list in the top left corner of the window. 4 Click Layout and choose Item, then click OK.

Settling credit notes

You can choose to settle a customer credit by: applying the credit to one or more of the customers open invoices, thereby reducing the amount the customer owes you recording 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 center and click Sales Register. The Sales Register window appears. 2 Click the Returns & Credits tab. A list of customer credits appears.

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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 customers name in the adjacent field. A list of credits for that customer appears. 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.

To record a refund payment

1 Go to the Sales command center and click Sales Register. The Sales Register window appears. 2 Click the Returns & Credits tab. A list of customer credits appears. 3 If the credit you want to settle does not appear, select Customer from the Search By list. Enter the customers name in the adjacent field and then press TAB. A list of credits for that customer appears. 4 Select the credit you want to refund and click Pay Refund. A refund check for the amount of the credit appears in the Settle Returns & Credits window. 5 Select an account in the Account field. For example, if youre 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 check and you have already written it, select the Check Already Printed option. 8 Specify how you want to send a payment notification by selecting a delivery option from the Payment Notification Delivery Status list. 9 If you are recording a refund payment to a credit card and you subscribe to the MYOB Merchant Account Service: a Select the credit card in the Payment Method field. b Click Details. c Enter all the credit card details: card number, expiration date, name and so on.

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.

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d Click Authorize to submit the credit card payment for authorization via the MYOB Merchant Account Service. When the payment transaction is finalized, the Settle Returns & Credits window reappears. For more information, see Credit card payments using the MYOB Merchant Account Service on page 53.

10 If you want to print a check or payment notification immediately, click Print and make a selection from the list. In the confirmation window that appears, click OK. Note that the transaction is recorded before it is printed. 11 Click Record.

Dealing with a vendor who is also a customer

If your business sells goods and services to a business from which you also make purchases, you need to record the transactions using a separate customer and vendor card. You can then record a contra payment to offset the receivable and payable amounts. Before you can record contra payments, you need to create a bank account called Contra Suspense. For more information, see To add an account to your accounts list on page 152. b In the Customer field, type the customers name or select it from the list. c Enter the amount that you need to offset against an invoice. 2 Record a payment made to the vendor, as follows: a In the Pay Bills window, type or select the Contra Suspense account in the Pay from Account field. b In the Vendor field, type or select the vendors 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 the receivable and payable accounts have been reduced. The Contra Suspense account balance should be zero.

To record contra payments

1 Record a payment from the customer, as follows: a In the Receive Payments window, type or select the Contra Suspense account in the Deposit to Account field.

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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 To add an account to your accounts list on page 152. 1 Create a credit sale for the customer. a Go to the Sales command center and click Enter Sales. The Sales window appears. b Click Layout. The Select Layout window appears. c Click Miscellaneous and then click OK. d In the Customer field, type or select the customers name. e In the Description field, type a description of the transaction. f In the Acct# field, type or 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 type or select that account. g In the Amount field, type the bad debt amount as a negative number. h Click Record. 2 In the Settle Returns & Credits window, apply the credit against the original open invoice. For more information, see To apply a customer credit to an open invoice on page 78.

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5 Purchases
This chapter explains how to enter information about your purchases. You record a purchase by specifying the vendor details, the purchase form layout (item, service, professional or miscellaneous), status of the purchase (quoted, ordered, received or billed) and details of the purchased items or services. The chapter also explains how to pay your vendors for these purchases, how to deal with vendors who owe you money (settling a vendor debit), and how to review and analyze your entire purchasing activity with a variety of reports and analytical tools.

Entering purchases
You can enter a purchase as a quote, order, receive item or bill. You can enter a quote to keep a record of an estimate or quote you receive from a vendor. A quote has no impact on your inventory levels and can be changed to an order or a bill when you are ready to purchase. An order is a purchase where no service or item has been received. While orders do not affect your financial figures, they do affect your inventory levels. Orders dont create transactions unless you have paid a deposit to the vendor. An order can be changed to a bill but not to a quote. You can use a receive item purchase to record the receipt of items you have ordered but have not yet been billed for. When you record items received, the item is added to your inventory and the cost of the item is added to an accrual account for inventory items until you record a bill for it (an account payable transaction is not recorded at this time). You record items received against an order. A receive item purchase is available only for the Item layout. A bill is usually created when you receive the items or services you ordered and are required to pay the vendor (that is, you have been charged for the purchase). Recording a bill will update the appropriate accounts, including the account for tracking payables. Bills can be open (unpaid), closed (paid) or debit (returns). A bill cannot be changed to a quote or an order.

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You can enter a purchase in the: Purchases window Bank Register window. The purchases procedure described in this section is for entering purchases in the Purchases window, which allows you to record full details about a transaction.
Bank Register window Entering a purchase in the Bank Register

Step 1: Enter information about the vendor

1 Go to the Purchases command center and click Enter Purchases. The Purchases window appears. 2 In the Vendor field, type or select the vendors name. The terms shown in the Purchases window are the terms recorded in the vendors card. 3 Complete the fields as described in the table below:
A B C

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 48.
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 To convert a quote or an order to a purchase order on page 69.

Click the zoom arrow ( ) to alter the terms for this purchase only. If you want to change the credit terms for all future purchases to this vendor, you must make that change on the Buying Details tab of the vendors card. Type the purchase number here. If the vendor gave you an invoice number for the purchase, enter it here.

Entering a purchase transaction

Complete the following steps to enter a purchase transaction:
Step 1 2 3 4 5 Action Enter information about the vendor. Choose the type of purchase. Enter the items or services you are purchasing. Enter additional information about the purchase. Complete the purchase. See below below page 85 page 86

Step 2: Choose the type of purchase

Choose the status and layout for the purchase. The default layout displayed in the Purchases window is determined by the selections made when you set up purchase details (using the Purchases Easy Setup Assistant) or when you created the vendors card. 1 Check whether the default layout is appropriate.

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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.

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2 Select the status from the drop-down list in the top left corner of the window: Quote, Order, Receive Item or Bill. Note that Receive Item only appears for the Item layout.

Location

If you store this item in multiple locations, select the location where the item will be received. For more information about locations, see Multiple inventory locations on page 139. If you have purchased the item before or you have entered a standard cost in the Buying Details tab of the Item Information window, the price of the item appears automatically. You can change this if you want. Type a volume discount as a percentage. The total price is calculated automatically. [Optional] Select a job number here to assign a line item to a specific job. For more details, see Jobs on page 209. If the item is taxable, click the Tax column.

Step 3: Enter the items or services you are purchasing

The scrolling list in the middle of the Purchases window is where you enter details of what you are buying. In this area, you will enter item numbers, descriptions, account numbers (or account names, depending upon your selection in the Preferences window) and other information about your transaction. One row in the scrolling list is one line item of the transaction. You can enter as many line items for a purchase as you want. The fields that appear in the scrolling list differ according to the type of purchase you are creating. The following illustration shows the fields for a purchase with an Item layout and a Bill status.

Price

H I J K

Disc% Total Job Tax

The following illustration shows the fields for purchase with a Service layout and a Bill status. These fields also apply to the Professional and Miscellaneous layout.

Service Item Bill A

Description A description of the service being purchased. Acct # or Account Name The account to assign to the purchase. Press TAB to display the accounts list from which you can choose an account. This should be an expense or cost of sales account. You should not select your accounts payable account for supplier purchases. The amount you have been invoiced. [Optional] Select a job number here to assign the line item to a specific job. For more details, see Jobs on page 209. If the item is taxable, click the Tax column.

A B
A B Bill Received

Type the quantity to be billed. This field is display-only. It displays the quantity of items received. For more information, see Receiving items without a bill on page 87. Type the quantity of the item to be placed on backorder. An order for this amount will be created automatically when you click Record. Press TAB and choose an item from your item list. A description of the item appears automatically. You can change this if you want.

C D E

Amount Job Tax

Backorder

D E

Item Number Description

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NOTE : Add lines, subtotals and headers to purchases You can add lines, headers and subtotals to purchases to make it easy to separate and subtotal different groups of line items on one bill. For more information, see Adding and deleting lines, subtotals and headers to purchases on page 87.

Step 5: Complete the purchase

After you have finished entering details in the Purchases window, there are several ways you can complete the purchase. Record the purchase. To record the purchase without printing it, click Record. Record and print the purchase. If the purchase you have created is an item, service or professional purchase, you can print and record the transaction at the same time. Click Print in the Purchases window. For more information about printing, see Chapter 13, Forms, starting on page 195. Record and email the purchase. 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 as you normally do. Record and fax the purchase. Click Send To and choose Fax. A window from your fax software appears. Send the fax, using your fax software. Record and save the purchase to disk as a PDF file. Click Send To and choose Disk. In the window that appears, enter a file name and location for the PDF file and click Save. 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 174.)

Step 4: Enter additional information about the purchase

The fields that appear at the bottom of the Purchases window differ, depending on the type of purchase you are creating.
A D E

B
A Optional fields

Enter optional details, such as a comment, shipping method and the date the goods or services were promised. If you want to print or email the purchase in a batch, select the required bill delivery method from the list. The journal memo is generated automatically. You can change it if you want. If you want to change the tax amount of the purchase, click the zoom arrow ( ). Enter any charges for freight. If the freight charge is taxable, mark the checkbox to the right. Type an amount here to indicate how much money you paid at the time of the purchase or, if you are creating an order, how much money you gave as a deposit. Select the tax code for the purchase.

B C D E F

Bill Delivery Status Journal Memo Tax Freight Paid Today

Tax code

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Adding and deleting lines, subtotals and headers to purchases

You can add lines, headers and subtotals to purchase transactions.

3 Type the text for the header. The text appears in gray.

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. 4 Press TAB to complete the entry.

To insert a subtotal
1 In the Purchases window, click in the first line below the items to be subtotaled. 2 Go to the Edit menu and choose Insert Subtotal. A line appears displaying the subtotal of the individual amounts that appear above the subtotal line and below the last subtotal, if there is one.

To 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.

To delete a blank line, line item, header or subtotal

1 In the Purchases window, click anywhere on the blank line, line item, header or subtotal you want to delete. 2 Go to the Edit menu and choose Delete Line.

Receiving items without a bill

If you receive items from a vendor and have not been billed for them, you may not know the actual purchase price of the items. To re-sell the items, however, you need to add them to your on-hand inventory. But, as you dont know the amount payable, you shouldnt record an amount owed to the vendor at this time. Instead, you can record the receipt of these items using a purchase transaction with a receive item status. When you record a receive item purchase, you enter an estimated purchase amount, which is then allocated to an accounts payable accrual account. Your accounts payable is not affected at this time.

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Later, when your vendor bills you for the items, you can record a bill with the actual purchase amount. When you record the bill, the actual purchase amount is allocated to your accounts payable and the estimated amount is removed from the accrual account. Before you can record items received without a vendor bill, you need to set up the accrual account for them.

Recording items received without a bill

You need to record items received against a vendor purchase order. If the order already exists, you can record the items received against the order. If no order exists, you can create one when you record the items received.

To record items received against an order

Set up an accrual account for items received without a vendor bill

When you record a purchase for items received without a bill, you need to allocate the anticipated purchase amount to an account payable or inventory accrual account. If one does not exist in your accounts list, you need to create it. The account should be a liability account named, for example, AP Accrual Inventory. For information on creating an account, see To add an account to your accounts list on page 152. Before you can allocate transactions to this account, you need to make it the default linked account for items received without a vendor bill.

You can record items received against an order in the Purchases window or from the Purchases Register window. 1 Go to the Purchases command center and click Purchases Register. The Purchases Register window appears. 2 Click the Orders tab. 3 Find the required order and select it. 4 Click Receive Items. The Purchases window appears with the Receive Item status.

To link an account for items received

1 Go to the Setup menu, choose Linked Accounts and then Purchases Accounts. The Purchases Linked Accounts window appears. 2 Select the I can receive items without a Vendor bill option. 3 In the Liability Account for Item Receipts field that appears, type or select the inventory accrual account. 5 In the Receive field, type the item quantity received. 4 Click OK.

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6 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 Click Record. The items are recorded in your inventory and the original order is updated with the number of items received. When you receive the vendors bill, you need to convert the order to a bill. For more information, see To convert an order to a bill on page 90.

4 Select Receive Item from the status list in the top left of the window.

To create an order when you record items received

1 Go to the Purchases command center and click Enter Purchases. The Purchases window appears.
Recording items received from the Inventory command center You can also record items received by clicking Receive Items from the Inventory command center. The Purchases window appears with the Receive Item purchase status.
NOTE :

5 Enter the purchase date and your order number. 6 In the Ordered field, type the quantity you ordered. This can be more than the quantity received. 7 In the Received field, type the quantity received. 8 In the Item Number field, type or select the item. 9 If you keep items at multiple locations, type or select the location where you received the items. Note that the Location field only appears if you have set up multiple locations. 10 If you have purchased the items before, the last cost price will appear in the Price field by default. If you want to, enter a different cost estimate in this field. 11 Click Record. The items are recorded in your inventory and a purchase order is created with the number of items received. When you receive the vendors bill, you need to convert the order to a bill. For more information, see To convert an order to a bill on page 90.

2 In the Vendor field, type or select the vendor's name. 3 If the Item layout does not appear: a Click Layout. The Select Layout window appears. b Select Item and then click OK.

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Changing the status of a purchase

If you enter a quote or an order, you can easily convert it to a bill once the amount is payable. A quote can be converted to an order or a bill. An order can only be converted to a bill. Quotes and orders must be converted to a bill to show as payable. 1 Go to the Purchases command center and click Purchases Register. The Purchases Register window appears. 2 Click the Orders tab. 3 Find the required order and select it.

To convert a quote to an order or a bill

1 Go to the Purchases command center and click Purchases Register. The Purchases Register window appears. 2 Click the Quote tab. 3 Find the required quote and select it. 4 If you want to convert the quote to: an order, click Change to Order. The Purchases window appears. a bill, click Change to Bill. The Purchases window appears. 5 If you want to, you can update the information in this window, such as changing the transaction date. 6 Click Record. The bill or order is recorded. The original quote will remain in the Purchases Register window unless you have indicated in your preferences that you want quotes to be deleted once they are recorded as orders or bills.

4 Click Change to Bill. The Purchases window appears, displaying the bill. 5 If you want to, you can update the information in this window, such as changing the transaction date. 6 Click Record. A new bill is created and the original order is removed.

To simultaneously convert several orders to bills

1 Click To Do List from any command center. The To Do List window appears. 2 Click the Orders tab to display a list of all your orders. If you want to view details about a specific order, click the zoom arrow ( ) next to the order. 3 Select the orders you want to convert to bills by marking the select column ( ). 4 Click Record as Actual.

To convert an order to a bill

You can convert an order to a bill in the Purchases window or from the Purchases Register window. If you want to convert several orders to bills simultaneously, see To simultaneously convert several orders to bills below.

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.

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Reviewing your purchases information

There are several tools that you can use to review your purchases information.
Tool To Do List Description The To Do List window displays all open purchases, recurring purchases and orders, sorted by due date. The Analyze Payables window provides details of your purchase activities. Purchase reports help you keep track of your purchase activities. History lets you view seven years of purchase history for an item or a vendor. Find Transactions helps you find purchase transactions quickly. The Purchases Register window gives you a complete picture of your purchase activityopen and closed purchases, orders, quotes, returns, etc. The Transaction Journal lists journal entries of your purchases and other transactions. See below

The Overdue column shows the number of days a payable is overdue (a negative number in the Overdue column indicates that the payment is not yet due). The number of days a bill is overdue is calculated by checking the original date of purchase, comparing it to todays date and looking at your credit terms with the vendor.

Analyze Payables Purchase reports Purchase history Find Transactions Purchases Register

below page 92 page 92 page 168 page 169

To analyze payables
The Analyze Payables window allows you to view detailed information about how much you owe vendors and how long you have owed them. This analysis is based on all bills and payments recorded in your company file. 1 Go to the Purchases command center and click Analysis. The Analyze Payables window appears. 2 Click Filters. The Aging Date window appears.

Transaction Journal

page 170

3 Set the filters in the Aging Date window and click OK. 4 Display the required view of the Analyze Payables window:

To view a list of all unpaid purchases sorted by days overdue

You can view a list of all unpaid purchases in the To Do List and enter vendor payments for those purchases. 1 Click To Do List in any command center. The To Do List window appears. 2 Click the A/Ptab. A list of all unpaid purchases appears.

The Summary view displays all the money that you owe vendors, totaled by vendor. The Vendor Detail view displays all the money that you owe the vendor selected in the Vendor Detail field. The Purchase Detail view displays all the transactions assigned to the purchase in the Purchase Detail field. The information in the Analyze Payables window is based on the entries you made in the Aging Date window, and the selections

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you made in the Aging Periods fields in the Reports & Forms view of the Preferences window.

For information on displaying, customizing and printing your reports, see Printing and customizing reports on page 187.

To view purchase reports

There are several purchase reports that can help you track your purchase activity. For example, you can run a Payables Reconciliation [Summary] report if you want to analyze your payables as of a past date. The Analyze Purchases [Items Spreadsheet] report shows you the inventory items on which you are spending the most money. 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.

To view purchase history

You can view the purchase history for an item or a vendor. 1 Display the Item Information window for an item or the Card Information window for a vendor. 2 Click the History tab. The History tab displays a total of seven years of purchase history for the item or card: the five years preceding your current fiscal year (as displayed in the Company Information window), the current fiscal year and the next fiscal year.

Paying bills
If you have recorded a purchase, you pay the vendor in the Pay Bills window. In this window you can record the payments to one or more of your outstanding bills. You can also make payments to vendors in the Bank Register window. Paying bills through the Bank Register window can save you time if you have several purchases to pay and do not need to record detailed information (such as discounts and finance charges) for each payment. When you use the Bank Register window for making vendor payments, the entire payment is automatically allocated to the oldest purchase first. See Entering transactions in the Bank Register window on page 47. You can pay several outstanding bills at once in the To Do List window. For more information, see To pay several bills at once on page 94. The options for recording payments are summarized in the following diagram.

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You pay money (other than pay salaries and wages)

If you are paying the vendor by some other meanssuch as by cash, check, credit card or Internet bankingtype or select the account you are paying from in the Pay from Account field. 3 Enter the vendors name.
NOTE : If you receive an alert message If you have outstanding debit memos with this vendor, a message may appear. You will have the opportunity to settle the debit memos immediately or at a later date. See Settling vendor debits on page 97.

No

Is it in response to a purchase recorded in the Purchases command center?

Yes

4 Change the memo and payment date if necessary.

Option 1 Record the payment in the Spend Money window [Banking command center] Option 1 Record the payment in the Pay Bills window [Purchases command center]

5 In the scrolling list in the bottom half of the window, indicate which bills are covered by the payment by entering amounts in the Amount Applied column.

Option 2 Record the payment in the Bank Register window [Banking command center] Type = Spend Money

Option 2 Record the payment in the Bank Register window [Banking command center] Type = Pay Bill

MYOB Vendor Payments

MYOB Vendor Payments is a subscription service you can use to pay your vendors over the Internet directly from your MYOB accounting software. For more information, see Setting up MYOB Business Services on page 34.

A
A Pay All

C D

To pay bills
1 Go to the Purchases command center and click Pay Bills. The Pay Bills window appears. 2 Specify how the payment is to be made. If you are paying the vendor using MYOB Vendor Payments, click Group with Electronic Payments.
B Discount

If you are settling your account in full, click Pay All. The total payment amount appears in the Amount field and the individual payment amounts are applied to each open purchase. If you take an early-payment discount for a purchase, assign the discount to the appropriate bill in this column. Note that the software will not allow you to assign a discount to a bill that you are not settling in full. If this is the case and you want to record a discount that the vendor has given you, you can create a vendor debit. See Creating vendor debits on page 96. Type how much of the payment you want to apply to each bill in this column.

Amount Applied

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D Finance Charge E Out of Balance

If part of the payment was used to pay finance charges, type the finance charge amount here. Keep in mind that the amount you apply in the Amount Applied column will accumulate in the Total Applied field. The Total Paid amount must equal the amount that appears in the Amount field in the top half of the window before you can record the transaction. The Out of Balance amount must be zero before you can record the transaction.

Paying vendors using MYOB Vendor Payments

Once you have recorded the payments you want to pay using MYOB Vendor Payments, you need to prepare an electronic payment. For more information, see Preparing electronic payments using MYOB Vendor Payments on page 95.

Paying several bills at once

You can pay several outstanding bills at once in the To Do List window. The linked account for paying bills will be used for all vendor payments made from this window.

6 If you are paying by check and have already written it, select the Check Already Printed option. 7 If you want to store the payment as a recurring transaction, click Save as Recurring. The Edit Recurring Schedule window appears. Enter the necessary information and click Save. For more information about saving and using a recurring transaction, see Recurring transactions on page 174. 8 If you want to send a payment notification in a batch, select a payment notification option from the Payment Notification Delivery Status list. After you have recorded a number of payments, say, the days payments, you can print or email a transaction batch. For more information, see Sending forms on page 197. 9 If you want to print a check or payment notification now, click Print and select the form type you want to print. Note that the payment is recorded before it is printed. 10 Click Record.

To pay several bills at once

1 Click To Do List in any command center. The To Do List window appears. 2 Click the A/P tab. A list of all unpaid purchases appears. 3 If you want to view details about a specific bill, click the zoom arrow ( ) next to the bill. 4 Click in the select column ( 5 Click Pay Bills. 6 In the window that appears, enter a date for the selected transactions. This is the date that the transactions will be recorded in your accounts. 7 Click OK and then click Close. ) next to each bill you want to pay.

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Preparing electronic payments using MYOB Vendor Payments

If you pay your vendors using MYOB Vendor Payments, you need to create a batch bank payment that will transfer funds as a single transaction from the Electronic Clearing Account to the bank account of your choice. The single payment transaction is transmitted for approval to the Automated Clearing House (ACH)a collection of regional interbank networks used to process transactions electronically. Electronic payments dated up to and including the date you specify in the Prepare Electronic Payments window will appear. 2 Select Pay Bills from the Select Payment By list if it is not already selected. 3 Type a date in the Date field to display unpaid checks up to and including that date. 4 Use the Journal Memo field to record the purpose of the transaction. 5 Select the payments you want to include in the electronic payment by marking the select column ( ). 6 If the values are correct, click Process and Record to transmit the transactions for approval. After the transmission, an Approval or a Declined status appears in the Status column for each transaction in the list. For each declined transaction, a Processed Electronic Payments window appears with a code and description of the reason the transaction was declined, as well as a transaction ID, date, card name and the amount of the transaction. 7 For each declined transaction, verify the vendors bank information. Correct any errors and resubmit or change the method of payment to a printed check. An approval status indicates only that the initial authorization was successful. There is an additional period of 72 business hours in which the funds are accessed, the destination account is identified and so on. During this period and through this process, the potential still exists for the payment to fail. Click Get Update to open the Online Error Notification window where any transactions that fail during this processing period are listed.

To process an electronic payment

1 Go to the Purchases command center and click Prepare Electronic Payments. The Prepare Electronic Payments window appears.

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8 If the transaction appears in the Online Error Notification window, you should reverse it and handle the payment in a different way. You can select and reverse a transaction directly from this window by clicking Reverse. Then open the Prepare Electronic Payments window, select the payment reversal (a negative number) from the list of payments by clicking the process column ( ), and click Record Only.

NOTE : Error messages There are several reasons why a transaction may not be processed successfully: insufficient funds, incorrect bank account details or a general communication error with the financial institutions. For a list of the messages and an explanation of what they mean and what you may do in response to them, click Help and then click Tell Me How in the Online Error Notification window.

Creating vendor debits

A vendor debit is money that a vendor owes you. 2 Go to the Edit menu and choose Reverse Purchase. A vendor debit appears in the Purchases window. 3 If you want, you can make some changes to the vendor debit (such as changes to the date and memo), but you cant change the accounts, amounts and quantities that are associated with the debit. 4 Click Record Reversal. A vendor debit memo appears in the Purchases Register window.

Recording vendor debits

Before you create a vendor debit for the first time, you may want to create an account for tracking returns and allowances. Make sure the new account is an expense account. See To add an account to your accounts list on page 152. You can create a vendor debit in one of two ways: Reverse an existing purchase. Use this method if you have been debited for the entire purchase. Manually create a debit. Use this method if you have been debited for part of a purchase.

To manually create a debit for non-item purchase

1 Go to the Purchases command center and click Enter Purchases. The Purchases window appears. 2 In the Vendor field, type or select the vendors name.

To reverse an existing purchase

3 Select Bill from the drop-down list in the top left of the window. Your company file transactions must be set to unchangeable before you can reverse a purchase; that is, the Transactions CANT be Changed; They Must be Reversed option must be selected in the Security tab of the Preferences window. 1 Find and display the purchase. See Finding a transaction on page 168. 4 Click Layout and select Miscellaneous. 5 In the Description field, type the reason for the vendor debit. 6 In the Acct# field, type the account number to be debited or select it from the list. This is normally an expense account called Purchases Returns.

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7 In the Amount field, type the amount of the debit as a negative amount. 8 Click Record. A vendor debit memo appears in the Purchases Register window.

To apply a vendor debit to an unpaid purchase

1 Go to the Purchases command center and click Purchases Register. The Purchases Register window appears. 2 Click the Returns & Debits tab. 3 Select Vendor from the Search By list. Enter the vendors name in the adjacent field. A list of debits for that vendor appears. 4 Select the debit you want to apply and click Apply to Purchase. The Settle Returns & Debits window appears, listing all open purchases that you have made from the vendor. 5 Enter the amount you want to apply to a purchase in the Amount Applied column. If the Apply Bill Payments Automatically to Oldest Bill First preference is selected in the Purchases view of the Preferences window, amounts will appear next to the oldest bill in the Amount Applied column. You can apply the debit amount to one transaction or you can split it over any of the transactions in the list. Remember that the total amount you apply in the Amount Applied column must equal the amount that appears in the Debit Amount field. 6 If you want to apply part of the vendor debit to unpaid finance charges you may have accrued, enter an amount in the Finance Charge field. 7 Click Record to apply the vendor debit. If the transaction is unbalanced, that is, if the total amount entered in the Amount Applied column doesnt equal the amount displayed in the Debit Amount field at the top of the window, a message appears. Click OK to close the message and then check that the amounts you have applied to the various transactions are correct.

To manually create a debit for an item purchase

1 Go to the Purchases command center and click Enter Purchases. The Purchases window appears. 2 In the Vendor field, type the vendors name or select it from the list. 3 Select Bill from the drop-down list in the top left of the window. 4 Click Layout and select Item. 5 In the Bill field, type the quantity of the item you are returning as a negative number. 6 In the Item Number field, type the item number or select it from the list. The cost of the item is displayed as negative amount in the Total field. 7 Click Record. A vendor debit memo appears in the Purchases Register window.

Settling vendor debits

You can settle a vendor debit in one of two ways: Apply the debit to an unpaid purchase. Use this method to apply the vendor debit to one or more of your unpaid purchases from the vendor, or Receive a refund. Use this method to record the receipt of a refund check from the vendor.

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To receive a refund check

1 Go to the Purchases command center and click Purchases Register. The Purchases Register window appears. 2 Click the Returns & Debits tab.

3 Choose Vendor from the Search By list. Enter the vendor name in the adjacent field. A list of debits for that vendor appears. 4 Select the debit that is being refunded and click Receive Refund. A refund check for the amount of the vendor debit appears in the Settle Returns & Debits window. 5 Click Record to record the refund check.

Adding finance charges paid

Finance charges are amounts added to an outstanding balance as a penalty for late payment. If your vendor has added a finance charge to your account, you can record the charge in the Pay Bills window.

Deleting finance charges

If you enter a finance charge in the Pay Bills window, two transactions are recorded: the full vendor payment, including the finance charge, is recorded in the disbursements journal, and a transaction for the finance charge is recorded in the purchases journal. Therefore, if you want to delete a finance charge payment, you must delete both transactions. If only one entry is deleted, the Payables Reconciliation [Summary] report may show an out-ofbalance 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.

Setting up and using finance charges

Before you can record finance charges, you need to specify an account for tracking late payment charges. Go to the Setup menu, choose Linked Accounts, and then Purchases Accounts. Select the I pay charges for late payment option and select an expense account to record the late payment charges. When you pay the finance charge, enter the amount in the Finance Charge field of the Pay Bills window. Although your MYOB accounting 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.

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6 Paying your employees

You can use your MYOB accounting software to process pays for wages and salary. The software can calculate overtime rates, allowances, union fees and other deductions, employer expenses and accruals, such as vacation pay and sick leave, along with tax deductions. In your MYOB accounting software, the components of an employees pay, such as wages, accruals and taxes, are called payroll categories. These are assigned to an employees card to calculate their recurring pay. When you process pays, you can vary an employees pay by overriding the recurring pay values, such as the actual number of hours worked and the number of hours of vacation leave taken. At year-end, you can print out W-2 forms for your employees to use at tax time. For more information, see Starting a new payroll year on page 230. If you are concerned about employee privacy, use the security features to restrict access to this and other areas of your MYOB accounting software.

Payroll setup tasks

Before your can pay your employees, you need to complete the following tasks:
Step 1 2 3 4 Action Enter your companys general payroll information Create payroll categories Create a card for each employee Enter payroll information for each employee See page 27 page 100 page 105 page 105
NOTE :

Using the Easy Setup Assistant to set up payroll

You can also use the Easy Setup Assistant to set up payroll. See Setting up payroll details on page 27 for more information.

MYOB Direct Deposit

MYOB Direct Deposit is a subscription service that you can use to directly deposit paychecks for your employees over the Internet from your MYOB accounting software. For more information, see Setting up MYOB Business Services on page 34.

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Creating payroll categories

An employees pay is made up of separate components, such as normal time, overtime, union deductions, taxes and so on. In your MYOB accounting software, these components are called payroll categories, and they are grouped into five types: wages, accruals, deductions, expenses and taxes.
Payroll category Wages Accruals Deductions Description All monies paid to an employee for labor or services rendered on an hourly, salary or other basis. Items such as vacation and sick leave, which employees accrue under the terms of their work agreement. Monies withheld by the employer and paid to other organizations on behalf of the employee, for example, union fees. Employer-paid benefits, for example, medical insurance. Amounts withheld by the employer from the employees paycheck and paid to a federal, state or local government.

To create a payroll category

1 Go to the Payroll command center and click Payroll Categories. The Payroll Category List window appears.

2 Click the tab corresponding to the type of payroll category you want to create.
NOTE : You can only view tax categories You cannot create any tax categories. To view the tax table information, click the Taxes tab and then click the zoom arrow ( ) next to a tax. Tax table information is set by a federal, state or local government department. Any queries should be referred to that department.

Employer expenses Taxes

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.

3 Click New. The Information window for the selected payroll category type appears. 4 Type a name for the payroll category. 5 Make the required selections for the payroll category. See the following topics for information about the options available for each payroll category type: Wages Information window on page 101. Accrual Information window on page 102. Deduction Information window on page 103. Employer Expense Information window on page 103.

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6 Click Employee. The Linked Employees window appears. 7 Select the employees whose pay will include this payroll category, then click OK. 8 If you are creating: a Wage category, click Exempt and select the taxes and deductions that do not apply to the new category an Accrual category (and you have selected a percentage of gross wages or federal wages as the calculation basis), click Exempt and exclude those wage categories that should not be included in the accrual calculation a Deduction category, click Exempt and select the taxes that should be applied only to net pay (that is, to gross pay less the deduction amount) an Employer Expense category (and you have selected a percentage of gross wages or federal wages as the calculation basis), click Exempt and choose the wage categories that will not contribute to the value of the expense. 9 Click OK. 10 Click OK to return to the Payroll Category List window.

Wages Information window

A B C D

A Choose either Salary or Hourly to specify whether the calculation will be based upon the hours worked or a set amount per pay period. Linked wage categories for accruals (such as Vacation Pay) must be hourly for all employees (even those paid a salary) for the accruals to be processed correctly. See Accrual Information window below for more information. B If you select Hourly as the type of wages, the Pay Rate fields appear. Select Regular Rate Multiplied by and enter, for example, 2 for double time or 1.5 for time and a half. This will multiply the employees Hourly Base Pay (entered in the Payroll Details tab view of their card) by this amount. Alternatively, you can enter a fixed hourly rate. This dollar amount per hour will be the same for each employee regardless of their hourly base pay. C If you want to override the employees wage expense account (entered in the Payroll Details tab view of their card) for this particular wage, select the Optional Account option and enter the override account in the field that appears. D Select the Non-Cash Wages option if you want non-cash wages, such as tips, excluded from the net pay. You can select from three types of non-cash wages: Reported Tips Allocated Tips Other Non-Cash Wages.

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Accrual Information window

B C

If you want the accrued amount to appear on the paycheck stub, select the Print on Paycheck Stub option. If you want to carry over any accrued leave balance from the previous year, select the Carry Remaining Leave Over to Next Year option. Each accrual category must have a Linked Wages Category. For example, the Vacation Leave Accrual could be linked to the Vacation Pay wage category and the Sick Leave Accrual could be linked to the Sick Pay wage category. If you create a new accrual, you must link it to a wage category. When employees use their accruals, for example, by taking a vacation, you allocate the hours taken against the linked wage category (in this example, the vacation pay wage category). The employees accrued leave balance is reduced by the hours taken.

A B

C D

Type of Accrual can be: User-Entered Amount per Pay Period should be selected if you want to manually enter a specific amount for each employee, each pay period. Choose this option if the amount varies regularly. Equals x Percent of allows you to set the accrual as a percentage of the number of hours of any wage category. It can only be used with employees who have an Hourly Base Pay (entered in the Payroll Details tab view of their card). For information about how to determine the percentage rate for calculating vacation and sick pay accruals, see Calculating the percentage of vacation and sick leave accruals below. Enter the required percentage for the accrual in the first field and then select the wage category from the selection list, which shows all your hourly wage categories, in addition to Gross Hours or Federal Hours, which totals all wage categories (hourly and salary) you pay an employee. Equals x Hours per allows you to specify a fixed number of hours to be accrued each Pay Period, Month or Year, regardless of the hours worked by the employee. If you have set your employees to be paid on a salary basis rather than on an hourly basis, this is the only option that will automatically accrue hours. Using this method, a vacation leave accrual may be for 20 days per year, being 160 hours per year based on a 40-hour week. If the employee is paid every two weeks, there are 26 pay periods per year. The amount you enter here would be 160 26 = 6.154 hours per pay period. If you pay more than a recurring pay in one paycheck, you will need to manually adjust this figure. For example, for 4 weeks pay on one paycheck, you would double it to 12.308 hours.

CALCULATING THE PERCENTAGE OF VACATION AND SICK LEAVE ACCRUALS

The following examples may help you calculate the percentage rate for your hourly employees. Vacation leave accrual An employee has an accrual of 20 days vacation leave a year and works an 8-hour day. 8 5 = 40 work hours per week 20 8 = 160 hours of vacation leave 160 (40 52) = 7.6923% An employee has an accrual of 20 days vacation leave a year and works a 7.6-hour day. 7.6 5 = 38 work hours per week 20 7.6 = 152 hours of vacation leave 152 (38 52) = 7.6923% Sick leave accrual An employee has an accrual of 6 days sick leave a year and works an 8-hour day. 8 5 = 40 work hours per week 6 8 = 48 hours of sick leave 48 (40 52) = 2.31%

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Deduction Information window

A B C

Deduction Limit may be one of the following choices: No Limit signifies no limit on the amount of money that can be deducted from the employees pay for this category. Equals x Percent of results in the maximum deduction amount being a percentage of a wage category. For example, a deduction might be $50 per pay period up to a maximum of 50% of the employees base salary. The special categories of Gross Wages and Federal Wages are also available here (refer to discussion in Equals x Percent of, above). Equals x Dollars per results in the maximum deduction being a fixed dollar amount per pay period, per month or per year. For example, a deduction might be 10% of the employees gross wages up to $1,500 per year.

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. Type of Deduction may be one of the following choices: User-Entered Amount per Pay Period should be selected if you want to manually enter a specific amount for each employee each pay period. Note that manually entered deductions should be entered as negative values. Equals x Percent of allows you to enter a percentage of any of the wage categories. This amount will be deducted until the deduction limit (see below) is reached. Type or select a wage category upon which the calculation is to be based. Alternatively, you can select Gross Wages or Federal Wages, which totals all wage categories (hourly and salary) you pay an employee. Equals x Dollars per allows you to deduct the specified amount per pay period, per month, per year or per hour. This amount will be deducted until the limit (see below) is reached.

Employer Expense Information window

A B D E F C

G H I J

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.

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Linked Payable Account is the liability account to which your expense will accrue. The Account for Deductions & Expenses you specified when setting up payroll appears as the default. If you want amounts you have paid to appear on employees check stubs or pay advices, select the Print on Paycheck Stub option. Click the Type of Expense drop-down arrow and choose the expense type: SUI for state unemployment insurance SDI for state disability insurance Other for all expenses other than SDI or SUI, such as matching amounts for 401(K) and insurance programs.

To edit a payroll category

NOTE : Payroll categories linked to employee cards If you edit a payroll category that is linked to employee cards, any changes you make will apply to all employee cards linked to that category.

C D

1 Go to the Payroll command center and click Payroll Categories. The Payroll Category List window appears.

If you are creating an Other expense type, Expense Basis can be: Equals x Percent of allows you to enter a percentage of any of the wage or deduction categories, or a percentage of all of the wage categories (by choosing Gross Wages or Federal Wages). This expense will be charged until the expense limit is reached. Equals x Dollars per allows you to enter the specified amount per pay period, per month or per year until the limit is reached.

If you are creating an Other expense type, limits can be used to place a ceiling on the expense. For example, for an expense of $30 per pay period and a limit of 2% of Gross Wages, a paycheck with Gross Wages of $1,000 yields an expense of only $20 (i.e. 2%). Limit may be one of the following: No Limit signifies no limit to the expense for this category. Equals x Percent of results in the maximum expense being a percentage of a wage or deduction category or of all wage categories. For example, an expense might be $20 per pay period up to a maximum of 20% of the employees base salary. Equals x Dollars per results in the maximum expense being a fixed dollar amount per pay period, per month or per year. For example, an expense might be 5% of an employees gross wages up to $1,000 per year.

2 Click the tab corresponding to the type of payroll category you want to editWages, Accruals, Deductions, or Expenses.
NOTE : You can only view tax categories You cannot create any tax categories. To view the tax table information, click the Taxes tab and then click the zoom arrow ( ) next to the tax rate.

3 Click the zoom arrow ( ) next to the payroll category you want to edit. The information window for that category appears. 4 Make the required selections for the payroll category. See the following topics for information about the options available for each payroll category type: Wages Information window on page 101. Accrual Information window on page 102 Deduction Information window on page 103 Employer Expense Information window on page 103. 5 Click OK.

G H I

If you are creating an SUI or SDI expense, type or select a state postal abbreviation for the employer expense. If you are creating an SUI or SDI expense type, enter your company's state tax identification number in the State Tax ID field. If you are creating an SUI expense type, enter your company's state unemployment insurance (SUI) rate as a percentage. If you are creating an SDI expense type, enter your company's state disability insurance (SDI) rate as a percentage.

If you are creating an SUI or SDI expense type, enter the wages limit

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Creating employee cards

To create an employee card
1 Go to the Card File command center and click Cards List. The Cards List window appears. 2 Click New. The Card Information window appears. 3 Select Employee in the Card Type field. 4 Type the employees last name and press TAB. 5 Type the employees first name and their contact details. 6 If you want to enter payroll information, continue with step 4 in To enter payroll information for an employee, below. 7 Click OK and then click Close to exit the Cards List window.

Entering employee payroll information

Once you have created payroll categories (see page 100) and an employee card (see above), you can enter the employees payroll information.

To enter payroll information for an employee

1 Go to the Card File command center and click Cards List. The Cards List window appears. 2 Click the Employee tab and select an employee. 3 Click Edit. The Card Information window appears. 4 Click the Payroll Details tab. 5 Enter the employees personal details, social security number and their residence and work codes.

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ENTER WAGE INFORMATION

ENTER ACCRUAL, DEDUCTION AND EXPENSE INFORMATION

6 Click Wages and enter the wage information for this employee. a Select the employees pay basis. When you select a pay basis, the corresponding payroll category for paying wage amounts is automatically selected in the Wage list. If you select Hourly, the Base Hourly wage category (or the name you assigned to this category) is selected. If you select Salary, the Base Salary wage category (or the name you assigned to this category) is selected. b Enter the employees annual salary amount or hourly wage rate. c Select the employees pay frequency in the Pay Frequency field. d In the Hours in [...] Pay Period field, type the number of hours in the employees normal pay period. e If the employees wage expense account is different from the default account, in the Wages Expense Account field, type or select the required account. f Click in the select column ( ) next to each wage category that applies to the employee.

7 Click Accruals and click in the select column ( ) next to each accrual that applies to the employee. 8 Click Deductions and click in the select column ( ) next to each deduction that applies to the employee. 9 Click Employer Expenses and click in the select column ( ) next to each expense that applies to the employee.
ENTER TAX INFORMATION

10 Click Taxes and enter the employees tax details. a Select the employees tax level and marital status. b [Optional] Enter allowances and extra amounts withheld each pay period. Make sure you do this for both Federal and State tax levels if applicable. c Click in the select column ( ) next to each tax category that applies to the employee.

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ENTER RECURRING PAY DETAILS

ENTER PAY HISTORY AND TIME BILLING INFORMATION

11 Click Recurring Pay. The employees default pay details appear. The default values are determined by the payroll categories selected and values entered from step 6.

12 If you have already paid the employee in the current payroll year, click Pay History and type the amounts you have paid in the Activity column next to each relevant payroll category. You can enter pay history for specific months, quarters or for the year to date. Amounts entered in the Pay History window appear on reports not derived from payroll activity (such as register reports). They are not recorded as transactions in your accounts. 13 If you use the Time Billing function to track the time the employee spends to complete work for clients and customers, click Time Billing and enter the employees time billing rate and cost per hour. For more information, see Chapter 7, Billing for time, starting on page 121.

a If necessary, change the employees default pay details by overriding the values that appear in the Hours or Amount column next to a payroll category.
NOTE : Payroll categories with a calculated value The value of a payroll category with Calculated displayed in the Hours or Amount column is automatically calculated when you process a pay. Calculated values include tax amounts and accrual hours where hours are calculated as a percentage of the gross hours paid.

ENTER PAYMENT METHOD INFORMATION

14 Click the Payment Details tab and select the method you use to pay the employee in the Payment Method list. If you are paying employees using MYOB Direct Deposit, select Electronic and enter the employees bank details in the Account Type, ABA Routing Number, Bank Account Number and Bank Account Name fields. These fields are used to route electronic payments to the correct destination bank. 15 Click OK. The Cards List window reappears. 16 Click Close to return to Payroll command center.

b If you want to assign a job number to a payroll category for this employee, click in the Job column and enter or select a job number. c If you track fiscal information using categories, select a category from the Default Category list.

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Timesheets
Timesheets are used to record all the hours worked by hourly employees and form the basis of their payments. If you pay employees for time-billing activities, you can also enter activity details on timesheets and use these details to create activity slips. The timesheet feature is optional. If your hourly employees work a fixed number of hours per pay and you dont pay employees for time-billing activities, theres no need for you to use this feature. If you do want to use it, you need to set a preference. Once you set this preference, you must pay all hourly employees using timesheets. When you record timesheet information for a pay period, you include the timesheet details in employee pays. For more information, see Include employee timesheets on page 111.
NOTE :

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.

To enter a timesheet
1 Go to the Payroll command center and click Enter Timesheet. The Enter Timesheet window appears.

Creating a timesheet entry when recording an activity slip You can create a timesheet entry from the Activity Slip view of the Enter Activity Slip window by selecting the Include Hours on Timesheet option. This allows you to enter greater detail about the activity. See Creating activity slips on page 126.

Before using timesheets, you need to set a preference. See To set up timesheets below.

To set up timesheets
1 Go to the Setup menu and choose Preferences. The Preferences window appears. 2 Click the System tab. 3 Select the I Use Timesheets for [...] and My Week Starts on [...] preference. 2 In the Employee field, type or select the employees name. The employees timesheet, with any previously entered details for the period shown, appears.
NOTE : Gray values in the hours column hours column indicates hours paid.

A gray value in an

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3 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 ) to select a future week ) to select a week from the calendar

information in the Enter Activity Slip window or the Enter Timesheet window.

click the forward arrow ( click the calendar icon ( that appears.

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.

4 Enter timesheet details in one of the following ways:

If you want to... enter the daily hours for each payroll category worked Do this: 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.

To clear a timesheet for a week

1 In the Enter Timesheet window, select the employee and the required week. 2 Click Clear Timesheet. All unpaid details for the selected week are cleared.

To delete a timesheet line entry

1 In the Enter Timesheet window, select the employee and the required week. 2 Click in the line entry you want to delete. 3 Choose Delete Line from the Edit menu.

use the same details Click Copy From Previous. The employees as the previous week timesheet details for the previous week appear. use the recurring details on the employees card Click Use Recurring Pay Details. The employees weekly pay details are entered on the first day of your pay week.

5 If you want to enter a timesheet for another week, repeat from step 3 above.
NOTE : Removing timesheet entries You can remove unpaid entries on a timesheet at any time. For more information, see Delete timesheet entries below.

View timesheet reports

1 Go to the Reports menu and select Index to Reports. 2 Click the Payroll tab and select: Timesheetsto view timesheets entered for a specific week. Unprocessed Timesheetsto view unprocessed timesheets. For information about how to view and customize reports, see Producing reports on page 178.

6 Click OK. If you recorded time-billing activity details on this timesheet, an activity slip is created. You can review or modify the activity slip

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Processing your payroll

The Process Payroll assistant guides you through the process of recording your employees pays. In some windows of the Process Payroll assistant, you can click Back to return to a previous window to review and change the entries you have made. You can also quit the assistant while you are in a window that has a Cancel button. If you quit the assistant, you will need to start from the beginning. 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 dayfor example, when your weekly and monthly pay dates coincideyou need to process a pay run for each frequency. 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. To make an employee card inactive, open the employees Card Information window and click Inactive Card in the Profile tab view. Before you process your payroll, you need the following information: hours worked by hourly employees (if you do not record hours using timesheets) vacation and sick pay hours taken details of any other wage amounts, such as sales commissions and bonuses. 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.
NOTE :

Step 1: Select the pay period

1 Go to the Payroll command center and select Process Payroll. The Select Employees to Pay window appears.

Paying bonuses and commissions If you are processing pays for bonuses or commissions outside your normal pay period, select the Bonus/Commission pay frequency. When you select this frequency, your employees recurring pay details are cleared in the Select & Edit Paychecks window. Also note that you need to manually calculate and enter tax for these amounts.

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 employees card is used in the pay run.

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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 date of the pay period. 6 If you do not use timesheets, click Next to continue. The Select & Edit Employees Pay window appears. Continue with Select and edit paychecks below.

2 When you have finished, click Next to continue. The Select & Edit Employees Pay window appears.

Step 3: Select and edit paychecks

The Select & Edit Paychecks window displays the recurring pay details and the timesheet amounts (if applicable) for employees who are paid according to the selected pay frequency.

Step 2: Include employee timesheets

The Select employees to pay window lists employee timesheets for the specified pay period.
NOTE : Paying employees from timesheets This option is only available if you have selected the use I Use Timesheets for [...] and My Week Starts on [...] preference on the System tab of the Preferences window. See To set up timesheets on page 108.

Initially, all timesheets are selected to be included in the pay period. 1 If you want to exclude an employee from the pay run, clear the select column ( ) next to the employees name. 2 If you need to change the pay details for an employee, click the zoom arrow ( ) next to an employees name. In the Pay Employee window that appears, you can: change the hours worked (see page 112)
If you want to... exclude a timesheet change the timesheet details of an employee view the details of all unprocessed timesheets Do this: Clear the select column ( ) next to it.

1 To change, view or exclude a timesheet:

record vacation and sick pay (see page 112) record any other types of pay (see page 113) assign job numbers to payroll category amounts (see page 113) change the employees bank account details (see page 114).

Click the zoom arrow ( ) next to the employees name and make the required changes in the Enter Timesheets window. Click Display Unprocessed Timesheets.

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3 If you want to check the details of your employee pays, click Preview Pay Details. The Payroll Verification reports appears. If you need to make any changes, repeat from step 2.

4 Repeat from step 1 for each employee whose hours you want to change.

To record vacation and sick pay To change hours worked for an hourly employee
You may need to change the recurring hours worked by an employee if they are not being paid for a full recurring pay period, for instance, if they have only worked a some of their usual hours.
NOTE : Editing hours recorded on a timesheet You can edit an employees timesheet hours in the Pay Employee window. However, any timesheet adjustments you make here will not update hours entered on timesheets, timesheet reports or, if you record time-billing activities. NOTE :

Vacation and sick pay hours recorded on a timesheet

If youve entered vacation and sick hours on a timesheet, you dont need to follow this procedure.

1 In the Select & Edit Paychecks window, click the zoom arrow ( ) next to the employees name. The Pay Employee window appears.

1 In the Select & Edit Paychecks window, click the zoom arrow ( ) next to the employees name. The Pay Employee window appears.

2 Enter the number of sick or vacation hours in the Hours column for the appropriate wage category and press TAB. For example, if you are paying an employee for eight hours of vacation leave, type 8 in the Hours column next to the Vacation Pay payroll category and press TAB.
NOTE :

2 Change the hours worked for the applicable wage categories and press TAB. The payroll category amounts are calculated automatically and displayed in the Amount column. 3 Click OK. The Select & Edit Paychecks window reappears.

Automatic adjustment is made to accrual hours balance When you record the paycheck, the hours you entered will be subtracted from the number of hours the employee has accrued.

3 Reduce the amount being allocated to the Base Hourly or Base Salary wage category.

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If the employee is paid on an hourly basis, reduce the number of hours allocated to Base Hourly by the number of hours allocated to the Sick Pay and Vacation Pay payroll categories. For example, Mary Jones works 40 hours a week and is paid on an hourly basis. If she takes one day of vacation leave and half a day sick leave, allocate 8 hours to Vacation Pay, 4 hours to Sick Pay and 28 hours to Base Hourly.

Before you enter these details, the wage categories you intend to use should already be assigned to the employee. For information on assigning a wage category to an employee, see To enter payroll information for an employee on page 105. 1 In the Select & Edit Paychecks window, click the zoom arrow ( ) next to the employees name. The Pay Employee window appears. 2 In the Hours or Amount fields next to each appropriate wage category, enter the hours or amounts you want to record.

If the employee is paid on a salary basis, reduce the amount allocated to Base Salary by the values displayed in the Amount column for the Sick Pay and Vacation Pay payroll categories. For example, Alan Long is paid a gross amount of $1,000 per week. If he takes one day vacation leave and half a day sick leave, then allocate 4 hours to Sick Pay and 8 hours to Vacation Pay. The combined amount displayed in the Amount column for the Sick Pay and Vacation Pay payroll categories equals $300. Therefore, the value you need to enter in the Amount column for Base Salary is $700 (that is, $1,000 less $300). Therefore, the value you need to enter in the Amount column for Base Salary is $700 (that is, $1,000 less $300). 3 Click OK. The Select & Edit Paychecks 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 Paychecks window, click the zoom arrow ( ) next to the employees name. The Pay Employee window appears.

4 Click OK. The Select & Edit Paychecks window reappears.

To record other types of pay

NOTE : Other types of pay recorded on a timesheet If youve entered other types of paysuch as sales commission and bonuseson a timesheet, you dont need to use this procedure.

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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.

To change an employees bank account details

If you pay your employees using MYOB Direct Deposit, you can change an employees bank account details for this pay run. 1 In the Select & Edit Paychecks window, click the zoom arrow ( ) next to the employees 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 employees bank details for all subsequent pay runs, click Yes. 5 Click OK. The Select & Edit Paychecks window reappears. For more information on entering an employees banking details, see To enter payroll information for an employee on page 105.

c Click OK. The Pay Employee window reappears. 4 Click OK. The Select & Edit Paychecks window reappears. You can also assign a default job to an employee in the Recurring Pay section of the employees card. For more information, see To enter payroll information for an employee on page 105.

Step 4: Record employee pays

In the Select & Edit Paychecks window, click Record.
NOTE : Changing the details of a recorded pay If you need to change a recorded pay, continue processing your payroll. When you have finished processing, reverse or delete the incorrect transaction and then process a new pay for the individual employee. For more information, see Changing or deleting a transaction on page 171.

1 If a confirmation window appears, click Continue.

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2 When the pays are recorded, the Process Payments window appears.

To print paychecks
1 Click Print Paychecks. The Review Checks Before Printing window appears.

Step 5: Process payments

In the Process Payments window, you can: print employee paychecks (see below). process an electronic payment for employees paid using MYOB Direct Deposit (see page 116). create a spend money transaction to clear the account you use to temporarily hold cash wage amounts, (see page 117). If you want, you can perform these tasks later using the relevant command center function. For example, if pay employees using MYOB Direct Deposit and you want to include weekly and monthly payments in one electronic payment file, process both pay frequencies and then click Prepare Electronic Payments from the Payroll command center to prepare the combined payment file.

2 If you print checks on customized forms, type the number of the first check in the Check # of First Check in Printer field. 3 Specify how many copies you want to print in the Print [...] Copies of Each Selected Check field. 4 If you want to change the type of information you are going to print or the customized form it will be printed on, click Advanced Filters. For more information, see Advanced filters on page 199. 5 Click in the select column ( ) next to the paychecks you want to be printed. 6 If necessary, click the zoom arrow ( about a particular paycheck. ) to view more information

7 Click Print. The Print window appears. 8 Click Print or OK to print the checks. The Process Payments window reappears.

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To process a direct deposit using MYOB Direct Deposit

1 Click Prepare Electronic Payments. The Prepare Electronic Payments window appears.

NOTE : An approval status indicates only that the initial authorization was successful There is an additional processing period of 72 business hours in which the funds are transferred from your account, the destination account is identified and so on. During this period the payment may still fail.

7 For each declined transaction, verify the employees bank information. Correct any errors and retransmit the transaction for processing or change the payment to a printed paycheck. 8 Check for transactions that failed the processing requirements. Click Get Update to open the Online Error Notification window where any unsuccessfully processed transactions are listed.
NOTE : Write down the online error notification details When you close the Online Error Notification window, the error details are cleared.

2 Select Pay Employees from the Select Payment By list, if it is not already selected. 3 Enter a date to display unprocessed checks up to and including that date. 4 [Optional] Record the purpose of the transaction in the Journal Memo field. 5 Click in the select column ( ) next to the payments you want to include in the electronic payment. 6 Click Process and Record to transmit the transactions for approval. After the transmission, an Approval or a Declined status appears in the Status column for each transaction in the list. For each declined transaction, a Processed Electronic Payment window appears with a code and description of the decline reason, as well as the transaction ID, date, card name and amount of the transaction.

9 If a transaction appears in the Online Error Notification window, you should reverse it. You can select and reverse a transaction directly from this window by clicking Reverse. Then open the Prepare Electronic Payments window, click in the select column ( ) next to the payment reversal (a negative number) in the list of payments and click Record Only.
IF AN ERROR MESSAGE APPEARS DURING PROCESSING

There are several reasons why a transaction may not be processed successfully: insufficient funds, incorrect bank account details or a communication error with a financial institution. For a list of the messages you may see and an explanation of what they mean and what you can do in response to them, click the Help button in the Online Error Notification window and then choose Tell Me How.

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To create a check transaction to record cash wages

1 Click Spend Money. The Spend Money window appears with the details of total cash wages paid and the default clearing account you use for cash wages.

Step 6: Print the Payroll Earnings report

When you have finished printing checks and processing payments, click Next. The Print Payroll Earnings window appears.

2 In the Pay from 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 appears.

In the Print Payroll Earnings window, click Display Payroll Earnings to print the current pay details for your employees. When you click Display Payroll Earnings, the Payroll Earnings report is printed using your default report settings. If you want, you can print this report later or change the report settings. To locate this report, go to the Reports menu, choose Index to Reports and select the Payroll Earnings report from the Payroll tab.

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Payroll liabilities
A payroll liability is an amount withheld from an employees pay that must be paid to an appropriate authority or agency, for example, deductions, expenses and state or federal taxes. In MYOB accounting software, your payroll liabilities are recorded when you process your payroll. When you need to pay these amounts, you can use the Pay Liabilities window. 4 In the Vendor field, type or select the authority or agency to whom the withheld amount is being paid. 5 Select the type of liability you are paying from the Liability Type list.

To pay your payroll liabilities

1 Go to the Payroll command center and click Pay Liabilities. The Pay Liabilities window appears.

By default, all payroll categories for the selected liability type are included in the payment. 6 If you do not want to include all payroll categories: a Click the search icon ( ) in the Payroll Categories field. The Select from List window appears. b Deselect categories by clicking in the select column ( to each payroll category you want to exclude. c Click OK. The Pay Liabilities window reappears. 7 In the Dated From and the Dated To fields, specify the period in which the payroll liabilities were withheld. The payroll liabilities withheld during the specified period appear in the Payroll Category section. 8 Click in the select column ( ) next to the payroll liability amounts you want to include with this payment. The total of the selected liabilities appears in the Total Payment field. 9 Click Record. ) next

2 Specify how the payment is to be made. If you are paying the vendor electronically using MYOB Vendor Payments, select Group with Electronic Payments. 3 In the Pay from Account field, type or select the account you are making the payment from.

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Reviewing payroll information

Your MYOB accounting software contains a number of tools that help you manage your payroll information.
Tool Pay history Accrual balance Analyze Payroll window Description View an employees pay history. View an employees accrual balance. Use the Analyze Payroll window to view a summary of an employees payroll data. It can help you detect possible inaccuracies in the amounts youre paying to, and deducting from, your employees. Use payroll liability reports to view payroll details. See below below page 120

To view an employees pay history

1 Go to the Card File command center and click Cards List. The Cards List window appears. 2 Click the Employee tab and select the employee whose pay history you want to view. 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

page 120 page 166

Find Transactions Use the Find Transactions window to search window for an account, card or payroll category.

Viewing pay history

Every time you process an employees pay, the amounts from that payment are recorded in the employees pay history. The Pay History section of an employees card is used to enter the employees pay history when you are setting up payroll and, later, to review their pay history. If youve paid an employee the wrong amount, dont attempt to correct it by adjusting their pay history. Altering an employees pay history does not affect the original pay record or the amounts posted to the accounts. Instead, make adjusting entries on the employees next pay. Changing an employees pay history on their employee card can also affect the calculation of payroll liabilities.

6 Select a pay history period from the Show Pay History for list.

Viewing an employees accrual balances

The Accruals section in the Payroll Details tab of an employees card displays the accrual amounts that have been carried over from the previous payroll year, the accrual amounts for the year to date, and the total accrual amounts owing to the employee.

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For example, an employee may have 40 hours of accrued vacation leave carried over from the last payroll year. In the current fiscal year, the employee has accrued another 10 hours, but has taken 8 hours of vacation leave. Therefore, 2 hours will be displayed in the Year-to-Date column and the Total column will display 42 hours.

Analyzing payroll
The Analyze Payroll window provides details of payroll information and can help you detect possible inaccuracies in the amounts you are paying to and withholding from your employees. 1 Go to the Payroll command center and click Analysis. The Analyze Payroll window appears. 2 Enter the employees name and the period you want to analyze.

To view or edit an employees accrual balances

1 Go to the Card File command center and click Cards List. The Cards List window appears. 2 Click the Employee tab and select the employee. Click Edit. The Card Information window appears. 3 Click the Payroll Details tab. 4 Click Accruals. The Accruals section displays the total number of hours an employee is entitled to take as sick and vacation pay.

The Payroll Summary section at the left of the window shows totals for the selected pay period. The Payroll Detail section appears on the right of the window shows the wages, deductions, tax, accruals, and employer expenses that have been recorded for the selected pay period.

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 reportlists payroll liability amounts that have been withheld. Liabilities Payment Register reportlists payroll liability amounts that have been paid.

5 If necessary, enter the accrual hours carried over from a previous period in the Carry Over column next to the accrual category. 6 Click OK and then click Close.

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7 Billing for time

The time billing feature allows you to track the time spent by employees and vendors to complete work for clients and customers. You can also track incidentals (such as items used) to complete the work. Time billing is suitable for businesses that predominantly sell timesuch as accountants and lawyersand businesses that sell both time and itemssuch as interior designers and mechanics. You can specify billing rates based on the activity itself, such as consulting at $75 per hour and photocopying at 10 cents per copy. You can also specify billing rates based on an hourly charge-out rate for a particular employee or customer. For example, employee John Smiths hourly consulting rate may be $120 per hour and subcontractor Acme Industries charge-out rate may be $150 per hour. Similarly, customer My Town Realty may be charged at a rate of $75 per hour because they are regular customers. 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. Activities can be entered individually or grouped together on activity slips. You can then generate time billing invoices, ready to send to your customers. Any items that you have sold to your customers can also be included with the activities in a single time billing invoice. You can also record the hours an employee works on an activity when you create an activity slip, and then include these hours in the employees 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.

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Setting time billing preferences

There are four preferences that should be set before you start billing for time:
Preference Description Preference Include items on time billing invoices Description If you selected the I Include Items on Time Billing Invoices preference, you can include both activities and items on your time billing invoice. Note that you can only include items for which you have selected the I Sell This Item option in the Item Information window. See Creating items on page 120. Timesheets This preference allows you to include time billing and activity slip information in an employees pay, and to create activity slips when you record employee hours using a timesheet.

Time billing units Set this preferences if you want to bill units of time of less than an hour. Special time billing units allow you to track time in units of 1, 6, 10, 12, 15 or 30 minutes. The unit of time you specify here will be the default billing unit when you create hourly activity slips. For example, you can specify six-minute time billing units, where an hour would be 10 billing units of time. Round timercalculated time This preference determines how you want elapsed time to be rounded. If you want to use the activity slip timer to calculate billable hours, set how units of time will be rounded. You can round the up to next, down to previous or to nearest. For example, if you have chosen up to next and are using 30-minute billing units, 10 minutes would be rounded up to 30 minutes on an activity slip. As another example, if you have chosen to nearest and are using 30 minute billing units, 15 minutes would be rounded up to 30 minutes on an activity slip. If you are not using a special billing unit of timethat is, you are billing in hoursyou can specify the rounding increment. For example, if you want to round the actual time you clock using the timer up to the next minute, choose up to next and type 1 in the Minute Increment field. That way, if you clock 21 minutes and 32 seconds of an activity, 22 minutes will be entered automatically in the Units field. Note that if you specify both a special time billing unit and a rounding rule, the Minute Increment field here is redundant and, as such, is not displayed.

To set time billing preferences

1 Go to the Setup menu and choose Preferences. The Preferences window appears. 2 Click the System tab. The preferences that apply to time billing are the last four shown in the window.

Set the preferences according to how you want to conduct time billing.

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Setting billing rates

You can set billing rates that will automatically appear when you create an activity slip. The billing rate can also be set for a customer, employee, vendor or for the activity itself. You can still override these rates when you create the activity slip. 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 activitys 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. 2 In the Customer Billing Rate field, type the hourly billing rate, excluding tax, for the customer.

To set a billing rate for an activity

You can set up a billing rate for each activity regardless of the customer you are billing or the employee or vendor who performed the activity. The billing rate for an activity is set in the Activity Information window. See To create an activity on page 124).

3 Click OK.

To set a billing rate for a vendor or employee

You can set a billing rate for a vendor or employee. This option allows you to bill an activity at different rates according to the employee or vendor performing the activity. You can also track the costs associated with having the activity performed. This is particularly useful if you are subcontracting work to a vendor. 1 Display the Card Information window of the vendor or employee. Then do the following: Vendor cardsclick the Buying Details tab. Employee cardsclick the Payroll Details tab and then click Time Billing.

To set a billing rate for a customer

You can set up billing rates for customers on their cards. This option is useful if you perform the same activities for multiple customers and want to charge each customer a different rate. 1 Display the Card Information window for the relevant customer and click the Selling Details tab.

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2 Enter the hourly billing rate, excluding tax, for the vendor or employee in the Vendor Billing Rate field or the Employee Billing Rate field.

3 In the Cost per Hour field, enter the hourly cost to you of having the vendor or employee perform the activity. 4 Click OK.

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 typehourly or non-hourlyand whether they are chargeable or non-chargeable.

To create an activity
1 Go to the Time Billing command center and click Activities List. The Activities List window appears. 2 Click New. The Activity Information window appears. 3 In the Profile view, enter an ID for the activity in the Activity ID field and press TAB. 4 In the Activity Name field, type a name for the activity.

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5 Type a description of the activity in the Description field. 6 If you want the description of the activity (rather than the activity name) to appear on time-billing invoices, select the Use Description on Sales option. 7 Select the type of activity (Hourly or Non-hourly) and the status (Chargeable or Non-chargeable) of the activity by selecting the appropriate options. If it is:
For this type... And this status... Hourly Chargeable Do this... Choose the billing rate you want to use. The rate is the price you charge for one unit of the activity. You can: use the rate you set up on the employee or vendor card use the rate you set up on the customer card specify a rate to apply to this activity only by entering a rate in the Activity Rate field.

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. 8 In the Income Account field, specify the account you want to use to track the income you receive for this activity. 9 If you want this activity to be taxed when sold, select the Taxable when Sold option. 10 Click OK. The new activity will now be listed in the Activities List window.

To change, inactivate or delete an activity

To change details of an activity, see Changing a record on page 155. To inactivate an activity, see To inactivate (or reactivate) a record on page 156. To remove an activity from your records, see Deleting a record on page 157.

Non-Chargeable Non-hourly Chargeable

Go to step 10. Enter a unit of measurement in the Unit of Measurement field and an activity rate in the Activity Rate field. Specify the unit of measurement in the Unit of Measurement field and then go to step 10.

Non-Chargeable

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Creating activity slips

Activity slips are used to record time-based activities performed for a customer and form the basis for the invoices that you send that customer. You can invoice the full amount for the activity or invoice part of it, leaving the balance for a later date. You can create an activity slip in three ways: create a single activity slip, which allows you to enter the most detail about the activity slip create multiple activity slips, which allows you to enter multiple activity slips at once for an employee, while not entering as much detail for each. create a timesheet, which allows you to enter the hours per day an employee spends to complete work for clients and customers, while automatically creating an activity slip. For more information, see Timesheets on page 108. You can also create a timesheet entry by assigning an hourly payroll category to an activity slip. When you create an activity slip, you can select two cardsone for the employee or vendor who performed the activity for your company and the other for the customer for whom your company performed the activity. If you are creating an activity slip for a chargeable activity, you must enter both cards. 2 Click the Activity Slip tab.

3 In the appropriate fields enter details about the activity, such as employee name, customer name, activity slip ID number and the number of units to be charged.
NOTE :

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.

4 In the Adjustment fields, enter any adjustments to the hours or the amount of the activity, or both. You need to enter adjustment units or amounts as negative numbers if you want to reduce hours or an amount. 5 In the Already Billed field, enter any hours or amounts already billed. For example, if you have partially billed the customer on an invoice for this activity, either enter the number of hours already billed (and the amount field will automatically update), or enter the amount they have already been billed for. Your entry is

To create an activity slip

1 Go to the Time Billing command center and click Enter Activity Slip. The Enter Activity Slip window appears.

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subtracted from hours and amounts in the Billable field. The units and amount that you havent billed, appear in the Left to Bill fields.
NOTE :

completed the activity, the information is already in the Enter Activity Slip window, eliminating extra data entry. The timer appears on activity slips for hourly activities only. To use the timer, you must leave the Enter Activity Slip window open until completion of the activity. You can still use other software or access other windows during this time. 1 Go to the Time Billing command center and click Enter Activity Slip. The Enter Activity Slip window appears. 2 Enter the employee or vendor name, date and customer name. 3 In the Activity field, type or select an hourly activity ID number. The timer fields appear at the bottom of the window. 4 Click Start to start the timer. If you dont enter a start time in the Start Time field, your computers current system time appears, and the timer starts incrementing the time in the Elapsed Time field.
NOTE : Entering a start time that is before current system time If you enter a start time that is before the current system time, the difference will be added to the elapsed time measured by the timer. For example, if you entered 8:00 a.m. in the Start Time field and then clicked Start at 9:00 a.m., 1:00:00 will appear in the Elapsed Time field and the time calculated by the timer will be added to that amount.

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 wont appear in the sales journal or in the activitys history. It will only be recorded for the activity slip.

6 If you pay the employee for the activity performed (hourly activities only): a Select the Include Hours on Timesheet option. b Enter an hourly wage payroll category in the Payroll Category field. The activity hours (units) recorded for this activity are assigned to this wage payroll category on the employees timesheet.
NOTE : Activity hours are assigned to timesheets on the activity slip date When you record the activity slip, the activity hours are assigned to the employees 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).

7 Click Record. The activity slip is now recorded. If you entered a chargeable activity on the activity slip, the activity becomes available for billing in the Prepare Time Billing Invoice window.

Leave the Enter Activity Slip window open as you perform the activity. 5 When you have completed the activity or if you want to pause the timer, click Stop. The current system time appears in the Stop Time field. The number of billing units corresponding to the elapsed time appears automatically in the Units field.

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

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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 122. 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. The activity hours (units) recorded for this activity are assigned to this payroll category on the employees timesheet.
NOTE : Activity hours are assigned to timesheets on the activity slip date When you record the activity slip, the activity hours are assigned to the employees 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).

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 Activity Slips view cant be used to add activity hours to a timesheet In the Multiple Activity Slips view, you cant choose to include an activitys hours on a timesheet.

To create multiple activity slips

1 Go to the Time Billing command center and click Enter Activity Slip. The Enter Activity Slip window appears. 2 Click the Multiple Activity Slips tab. 3 In the Employee or Vendor field, type or select the name of the employee (or vendor) performing the activity. Any activity slips you have already created for the employee or vendor are listed, with each line representing a single activity slip. 4 On the first blank line, enter details of an activity. 5 Press TAB or click Record to record the activity slip and move the insertion point to the next line where you can begin creating a new activity slip. 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.

8 When you have completed the activity, click Record. If you entered a chargeable activity on the activity slip, the activity becomes available for billing in the Prepare Time Billing Invoice window.

To reset the timer

Click Clear at any time to clear the Elapsed Time, Start Time, Stop Time and Units fields.

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Reviewing and changing activity slips

If you want to review, edit or delete an activity slip.

To change an activity slip

1 Find and select the activity slip you want to change in the View Activity Log window and then click Edit. The activity slip appears in the Enter Activity Slip window. 2 Make the required changes either in the Activity Slip view or the Multiple Activity Slips view and click OK or Record.

To review an activity slip

1 Go to the Time Billing command center and click Activity Log. The View Activity Log window appears. 2 Enter the name of the employee or vendor who performed the activity and, if you know it, the date range within which the activity was recorded. All activities that match the criteria are listed. 3 Click the Diary View tab and the Detail View tab to display different information about the activity slip. 4 Select the activity slip you want to view and click Edit. The Enter Activity Slip window appears with details of the activity slip.

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. 2 Go to the Edit menu and choose Delete Activity Slip.
NOTE : Deleting activity slip details in timesheets When you remove timesheet entries with activity slip details, the linked activity slip is also removed.

Creating time billing invoices

There are two ways you can create a time billing invoice: In the Prepare Time Billing Invoice window. This is the recommended method because the full details of activities and activity slips are recorded. See To create a time billing invoice using the Prepare Time Billing Invoice window below. In the Sales window. Use this method if you dont need to record details of activities and activity slips or track work in progress. See Work in progress on page 132.

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 the Prepare Time Billing Invoice window, your activity slip records are updated automatically. 1 Go to the Time Billing command center and click Prepare Time Billing Invoice. The Time Billing Customers window appears.

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NOTE : Including items on time billing invoices If you charge your customers for both activities and items on a single invoice, you need to select the I Include Items on Time Billing Invoices option in the Preferences window. See To set time billing preferences on page 122.

3 Click Prepare Invoice. The Sales - New Time Billing window appears with the details of the time billing invoice. 4 If you invoice for items, enter the following details for each item: the date in the Date field the quantity being sold in the Hrs/Units field the item number in the Activity field 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 [optional] the job number in the Job field. the appropriate tax code in the Tax field.

2 Find and select the customer for whom you want to create a time billing invoice and click OK. The Prepare Time Billing Invoice window appears, listing all the open activity slips for the selected customer.

A B C D

5 If you want to group and subtotal the items and activities separately on the invoice, you can do so by inserting headers, blank lines and subtotals. For more information, see Adding and deleting lines, headers and subtotals to sales on page 65. 6 Enter additional information about the sale, such as the salesperson, referral source and invoice delivery status. 7 If you want to 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 174.
NOTE : 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.

A Filters B Bill

Use these filters to find the required activity slips. 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. Enter any adjustments you want to make for each activity slip here. Select the relevant print options: Sort activity slips according to job number. Consolidate all activity slips with the same activity and job number on the invoice. Print the activity slip notes on the invoice.

C Adjustment D Print Options

8 If you want to print the invoice, click Print and then choose the form you want to use for this invoice. For more information about

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printing invoices, see Sending forms on page 197. Note that the invoice is recorded before it is printed. 9 Click Record.

[Optional] the job number in the Job field and then click in the Tax field if you need to add tax. 7 If you want to group and subtotal the items and activities separately on the invoice, you can do so by inserting headers, blank lines and subtotals. For more information, see Adding and deleting lines, headers and subtotals to sales on page 65. 8 Enter additional information about the sale, such as the salesperson, referral source and invoice delivery status. 9 If you want to 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 174.
NOTE : 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.

To create a time billing invoice using the Sales window

1 Go to the Sales command center and click Enter Sales. The Sales window appears. 2 In the Customer field, type or select the customer you want to invoice. 3 Click Layout. The Select Layout window appears. 4 Click Time Billing to select the Time Billing layout and then click OK. 5 For each billable activity, enter: the date the activity was performed in the Date field the number of units or hours being billed in the Hrs/Units field the activity name in the Activity field: either type it or press TAB and select it from the list the rate charged for a single unit or hour of the activity in the Rate field [Optional] the job number in the Job field and then click in the Tax field if you need to add tax. 6 If you also invoice items, enter the following details for each item: the date in the Date field the quantity being sold in the Hrs/Units field the item number in the Activity field 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

10 If you want to print the invoice, click Print and then choose the form you want to use for this invoice. Note that the invoice is recorded before it is printed. 11 Click Record.

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Work in progress
Work you have done for your clients that you havent 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 havent yet billed your clients for it. If your work in progress routinely represents a significant amount of money, you should consider adjusting your accounting records to reflect it. Consult your accountant for advice on how to do this.

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8 Inventory
The inventory feature enables you to track the quantity and value of the items you have in your inventory. From time to time, businesses may find that their recorded inventory levels differ from what is on the shelves. These variations can be caused by data-entry errors, spoilage and theft, etc. This chapter shows you how to compensate for inventory variations. Sometimes the quantity of items recorded may be correct, but their values are incorrect. A range of items may become outdated, damaged or, for some other reason, may lose value. This chapter shows you how to revalue your inventory. Many retailing and manufacturing businesses combine a number of inventory items to create finished items. For example, a retailer might combine perfume, lotion and bath salts to make up a gift pack. Or a manufacturer might combine raw materials to create finished items. This chapter shows you how to track the assembly of individual items into finished items.

Basic inventory tasks

Before you begin to track your inventory you need to create a record for each item of inventory. The procedure for doing this is explained in Creating items on page 134. Once you have created items, you need to enter the opening inventory level for each item. See Recording your opening inventory on page 136. To add items you purchase to your inventory, record your purchase in the Purchases window using the Item layout. See Entering purchases on page 83. To record the sale of items, record your sale in the Sales window using the Item layout. See Entering sales on page 61.

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Creating items
An item is: a physical unit that your company may buy, sell or inventory a service that your company wants to include on item invoices, for example, Shipping, Handling, and so on. Before you start using items, you need to create a record for the items you use (see below) and then enter the opening on-hand quantities and values (see page 136).
Select For these items Items you buy and sell, but whose quantities and values you dont need to track.

I Buy This Item I Sell This Item

Inventoried items you buy and sell and whose I Buy This Item quantities and values you want to track. I Sell This Item I Inventory This Item

I Sell This Item

Items or services you want to include on an item invoice.

To create an item
1 Go to the Inventory command center and click Items List. The Items List window appears. 2 Click New. The Item Information window appears. 3 In the Item Number field, type a unique identifier and press TAB. 4 In the Name field, type the name of the new item.
HINT :

Finished goods you manufacture using other I Sell This Item I Inventory This Item inventory items. Raw material you inventory and use as a component I Buy This Item I Inventory This Item to build other inventoried items.

I Inventory This Item Intermediate goods in the process, including parts

used to manufacture finished goods.

As you select the options, fields appear next to them. These fields change according to the combination of selections you make. 6 Enter the appropriate accounts in the fields that appeared during the previous step.
Account Cost of Sales Account Income Account for Tracking Sales Asset Account for Item Inventory Description Type or select the account you want to use to track the costs associated with producing this item. Type or select the account you want to use to record the income you receive from the sale of this item. Type or select the account you want to use to record the total value of this item.

Copy From button Click Copy From to copy another items information to this item record. From the displayed list, choose the item whose information you want to copy. All information for that item will be copied to the current item record except the item number, item name, vendor number, auto-build information and history information.

5 Specify whether you buy, sell and/or inventory this item by marking the relevant options. The following table explains the combinations of options available.
Select For these items Items you buy that are not for resale, and whose quantities and values you dont need to track. For example, items for office use only.

I Buy This Item

Expense Account for Type or select the account you want to use to Tracking Costs record costs associated with purchasing this item.

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7 Click the Buying Details tab. The Buying Details view of the Item Information window appears. Complete the fields as explained below.

Enter the restocking information: Enter the minimum level of this item you want to keep in inventory. When you drop below this level, a reorder reminder appears in the To Do List. Enter the vendor from whom you usually re-stock this item. Enter the vendors number for the item. Enter a reorder level quantity for the item. If you set a minimum level for restocking alert, you can create an order for the items using the Stock Alert tab in the To Do List. The default order quantity is taken from this field.

A B C D
E

If you pay sales tax when you purchase this item, select this option.

8 Click the Selling Details tab. The Selling Details view of the Item Information window appears. Complete the fields on this tab as explained below.
E
A [Optional] Enter the standard cost of an item. You can use the standard cost instead of the last purchase price as the default price on purchases. To use the standard cost price as the default price, select Use Standard Cost as the Default Price on Purchase Orders and Bills preference in the Preferences window (Inventory tab). B Type the unit of measure (such as each or case) by which you purchase the item. The buying unit is printed on the purchase order. For example, if you buy eggs by the carton, when you order five units in a purchase you are ordering five cartons. Enter the number of items that comprise a single buying unit. This is the number that is added to your on-hand inventory for every buying unit. For example, if you buy eggs by the carton unit but want to track their purchase individually, enter 12 as the number of items per buying unit. When you order one carton unit, your item inventory is updated by twelve items. If you leave this field blank, the value defaults to one.

A B C

E
A B Type the retail price of one selling unit. Type the selling unit of the item (such as each or case). You can type up to five characters. The selling unit is printed on the item invoice. If, for example, you sell by the six-pack, when you sell five units, you will be selling five six-packs

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Type the number of items that comprise a single unit in this field. This is the number that is subtracted from your on-hand inventory for every selling unit. For example, if you sell by the six-pack, enter 6 as the number of items per selling unit. When you sell one six-pack, your inventory is reduced by six items. Set pricing levels for different kinds of customers. See Creating custom price levels on page 148. If you collect sales tax when you sell this item, select this option.

3 Manually count your inventory and note down the quantities on the Inventory Count Sheet. When complete, enter these details in the Count Inventory window. See To enter opening on hand inventory and values below.

D E

To enter opening on hand inventory and values

1 Go to the Inventory command center and click Count Inventory. The Count Inventory window appears. This window lists all the items and their current on hand quantities. Quantities are inventory units, not buying units or selling units. 2 If you store your items at multiple locations, select the method you want to use to group your items. You can group items by item number or by location. 3 If you store your items at multiple 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 reflect the difference between the On Hand column and the Counted column.

9 Click the Items Details tab and enter additional information about the item. 10 If this item is stored in multiple locations, click the Locations tab and specify the default location for buying and selling the item. For information about locations, see Multiple inventory locations on page 139. 11 Click OK.

Recording your opening inventory

Once you have created your inventory items, you need to record the quantity of each item you have on hand and its value as of the start of your conversion date. Before you enter your opening inventory quantities, you need to count the actual items in your inventory. To help you with this task, you can print the Inventory Count Sheet report, which lists all your inventoried items, and manually record quantities on it.

To print the inventory count sheet

1 Go to the Inventory command center and click Count Inventory. The Count Inventory window appears. 2 Click Print. The Inventory Count Sheet report is printed with a list of all your items.

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5 When you have entered all your item quantities, click Adjust Inventory. The Default Expense Account window appears. When you are entering opening on-hand balances, you dont need to enter a default expense account. 6 Click Continue. The Opening Balance Check window appears. 7 Click Opening Balances. The window that appears depends on whether you have entered an opening balance for your inventory asset account when you set up your accounts (see To enter opening balances on page 21). If you have entered an inventory opening balance, the Adjust Inventory window appears. If you have not entered an inventory opening balance, the Account Balance Check window appears. Click Adjust Balances. The Adjust Inventory window appears. The Adjust Inventory window displays a line for each item at each location, whose opening quantity you entered in the Count Inventory window. The line items display each item's number, location ID, quantity, unit cost and the inventory asset account or, if you have not entered an opening balance for your inventory asset account, your historical balancing account.

8 Make any changes to the default entries in the Inventory Journal Number, Date and Memo fields. 9 Enter 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).
NOTE : Do not change the account number in the Account column The selection you made at step 7 determines the account needed to track opening balances.

10 Click Record. The value of each item in the list is updated. You can print the Items List Summary report to check your inventory status. For information on printing reports, see Chapter 12, Printing and customizing reports, starting on page 187.

Average Cost, Last Cost and Standard Cost

Average Cost is calculated as the total cost of an item (the total amount you have paid to purchase the item or the cost entered when you transferred the item into inventory) divided by the number of units of that item you have on hand. Last Cost is the most recent purchase price for the item. Standard Cost can be used instead of the last purchase price as the default price on purchases. To use the standard cost price as the default price, select Use Standard Cost as the Default Price on Purchase Orders and Bills preference in the Preferences window (Inventory tab).

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Making inventory adjustments

From time to time you may need to adjust item quantities and values. For example, if your inventory gets damaged, you may have to write off some of your inventory or revalue it. This section explains how to make a one-off adjustment to a single item or a few items. If you need to update the quantities of several items, see Count inventory on page 143.
NOTE : Print the Items List [Summary] report When making inventory adjustments, you may find it useful to print the Items List [Summary] report. This report displays on-hand quantities and values of items in your MYOB accounting software.

Enter the quantity by which you want to increase or decrease the quantity held. Only enter the quantity variation. Enter the quantity in inventory units, not buying or selling units. If you enter a positive number, that number is added to your on-hand inventory. If you enter a negative number, that number is subtracted from your on-hand inventory.

The average cost of the item appears by default. The average cost is normally calculated as the total cost of the item divided by the number of units on hand, but if these are new items, enter their purchase cost. The Amount field displays the quantity multiplied by the unit cost. If you change it, the unit cost is recalculated automatically. The allocation account is usually a cost of sales or expense account.

E F

To make an inventory adjustment

1 Go to the Inventory command center and click Adjust Inventory. The Adjust Inventory window appears. 2 Enter details of the adjustment.

3 Click Record to save the inventory adjustment. The following are some examples of inventory adjustments.
Example 1a

This inventory adjustment increases the number of items on hand by two and the total value of the items on hand by $700.

A
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. If you hold inventory at multiple locations, select the location where the item is stored. This field only appears if you have more than one location. For more information, see Multiple inventory locations on page 139.

Example 1b

This inventory adjustment increases the number of items on hand by two but does not adjust the total value of the items. The average cost of the items will decrease as a result of this adjustment.

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Example 2

This inventory adjustment increases the total value of the items on hand by $120 but does not change the number of

items on hand. The average cost of the items will increase as a result of this adjustment.

Multiple inventory locations

If you hold inventory 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 where a sold item is shipped (see Entering sales on page 61) the movement of items between locations (see To record inventory movements on page 140). The multiple locations feature is optional. If you dont track inventory quantities and values, or all your inventory is held at one location, theres no need for you to use this feature. If you want to use multiple locations, you need to create a record for each inventory location. When you create a location, a Location field 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.
NOTE : Primary location The primary location is automatically created in your company file. When you set up multiple locations, your existing inventory is assigned to this location. You can change the primary location ID and name, if you want, but you cannot delete it. For instructions on how to move items from the primary location to another location, see To record inventory movements on page 140

You can specify a default receiving and selling location for your items. For more information see To create an item on page 134.

To create an inventory location

1 Go to the Inventory command center and click Locations. The Locations List window appears. 2 Click New. The Location Information window appears. 3 In the Location ID field, type an identifier (of up to ten characters) for the new location and press TAB.

4 Enter the name and address of the location and contact details.

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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 select this option, you can only receive items at this location or move items to and from this location using the Move Items window. 6 Click OK. The new location appears in the Locations List window.

To record inventory movements

1 Go to the Inventory command center and click Move Items. The Move Items window appears.
NOTE : Moving items using the Item Information window You can also record an item movement by clicking the Move Items button in the Location tab view of the Item Information window.

2 Select the item you want to move. You can locate an item by scrolling or by typing the item number in the Search field. 3 Record the quantities held at each location.

7 Click Close.

Recording inventory movements between locations

You use the Move Items window to record the movement of inventory between your locations. Although a transaction is not created when you move inventory items, you can display the Item Movement report to view the details of inventory movements.
A B

The On Hand column shows the total quantity available in your inventory across all locations. 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. 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.

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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. For example, you could create an inventory transfer to turn timber and fabric (components) into furniture (the finished items). Use the Build Items window for a one-off transfer of inventory. For a transfer you make repeatedly, use the Auto-Build function. See Auto-building items on page 142. 1 Go to the Inventory command center and click Build Items. The Build Items window appears. 2 Enter the line items for the finished item and for the components
C If you store an item at multiple locations, select the location where the item is held. This field only appears if you have more than one location in your company file. For more information, see Multiple inventory locations on page 139. D E Enter the unit cost of each item to be included in the build. The value in the Out of Balance field must be zero before you can record the transaction. That is, the amount in the Amount column for the finished item must be equal to the sum of the amounts in the Amount column for the components.

3 Click Record to save the inventory transfer.

A
A B

Enter the item numbers of the finished item you want to make and the component items you want to transfer. Enter the transfer quantity. Enter a positive number for the finished item (this number is added to your on-hand inventory). Enter a negative number for the component items (this number is subtracted from your on-hand inventory).

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Auto-building items
For items that you repeatedly build, you can use the Auto-Build function to build the finished items. Before you can build a finished item using the Auto-Build function, you need to define what items are needed to build the item. materials required to build a greater quantity of the item, such as 10 or 20. 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 define an Auto-Build item

1 Go to the Inventory command center and click Items List. The Items List window appears. 2 Click the zoom arrow ( ) of the item you want to build. The Item Information window appears. 3 Click the Auto-Build tab. 4 In the Minimum Level for Restocking Alert field, type the minimum level of the item you want to have in inventory. 5 Click Edit List. The Auto-Build Information window appears.

8 Click OK when you have entered all the components. 9 Click OK and then click Close to return to the Inventory command center. 6 In the List what it takes to build field, type the number of item units you want to be made. If bulk quantities of materials are purchased to build an item, it may be easier to specify the

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To build a finished item

1 Go to the Inventory command center and click Auto-Build Items. The Auto-Build Items window appears.

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.

A
A B

This column displays all items that you have designated as finished items. The On Hand, On Order and Net on Hand columns show the current record of your finished items.

4 Review the entries in this window to make sure that the quantities, unit costs and total inventory values are correct. Note that the quantities of the components in the list appear as negative numbers, while the quantities of the finished items in the list are shown as positive numbers. 5 Click Record to update your inventory quantities and values.

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.)

Count inventory
You may recall entering your opening inventory quantities using the Count Inventory window when you set up your company file. You can also use the Count Inventory window to make adjustments to item quantities during regular inventory counts or any time you find discrepancies between the actual quantities of items on hand and your records of those quantities. Each inventory adjustment must be allocated to an account so your accounting records accurately reflect the reasons why your inventory needed adjusting. For example, many businesses use an expense account often called Shrinkage/Spoilage to track loss or theft of their items.

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Before you record an inventory count

Make sure you record all built items before counting your inventory. Otherwise, a missing inventory item that was used to build another item will be accounted for as an expense, such as loss or shrinkage. For more information, see Building items on page 141. Count the actual items in your inventory. You can print the Inventory Count Sheet report, which lists all your inventory items, and manually record your actual items on this.
Inventory-count report options You can print the Inventory Count Sheet either by clicking Print in the Count Inventory window or, if you want to set filters, from the Index to Reports window.
NOTE :

saves you having to enter an account on every line of the inventory adjustment. This account is normally an expense account such as Shrinkage/Spoilage. It should not be your inventory asset account.
NOTE : No default adjustment account needed You dont need to enter a default adjustment account. If its 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.

7 Click Continue. The Adjust Inventory window appears, displaying a line item for each adjustment you entered in the Count Inventory window in step 5. If you entered a default adjustment account at step 6, that account appears in the Account column for each line item. If you didnt enter a default adjustment account, enter an account against each item listed. 8 [Optional] Enter a reason for the adjustment in the Memo column (for example, Annual inventory count 2007). 9 Click Record to update your inventory.

To record an inventory count

1 Go to the Inventory command center and click Count Inventory. 2 If you have inventory at multiple locations, filter the list as required. 3 Click Print to print the Inventory Count Sheet. 4 Manually count your inventory and note down the quantities on the Inventory Count Sheet. 5 In the Count Inventory window, enter the actual quantities of the inventory items in the Counted column. If an item is held in multiple locations, enter the stock held at each location. Any discrepancy between the counted quantity and the on-hand quantity appears in the Difference column. 6 Click Adjust Inventory. If there are differences between on-hand and counted values, the Adjustment Information window appears. You can specify a default adjustment account for tracking the adjustments you entered in the Count Inventory window. This

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Reviewing your inventory information

The following tools help you review your inventory information.
Tool To Do List Analyze Inventory Description Displays an alert for items that need to be purchased or built. Gives you a list of your items showing, for each one, the number on hand, the number committed and the number on order. If you use multiple locations for inventoried items, you can group the items by number or location. Inventory reports help you keep track of your item quantities and value. You can view the sales and purchase transaction histories of an item or vendor for seven years. Find Transactions helps you find inventory transactions. Gives you a list of your inventory transfers, adjustments, sales and purchases for all items, or it can be filtered to show the history of a single item. Lists journal entries of your inventory transactions. See below page 146

To view a list of all items that need to be built or purchased

The Stock Alert view of the To Do List displays all items that need to be built or purchased to fulfill customer orders. In this window, you can: automatically record a transaction for the items that you need to buy or build. change the details of an order or auto-build transaction.

Inventory reports View history

page 146 page 146

1 Click To Do List from any command center. The To Do List window appears. 2 Click the Stock Alert tab. A list of all items that need to be ordered or built appears. The On Hand column shows the quantity of each item actually on hand. The On Order column shows the quantity of each item already on order. The Committed column shows the quantity of an item on backorder for customers. 3 If you want to: automatically order or build items, 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 vendor and quantity to order or the items to build.

Find Transactions Items Register

page 168 page 170

Transaction Journal

page 170

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change the details of an order or auto-build transaction, click the Order or Build zoom arrow ( ) next to the item. Complete the transaction in the window that appears.

To analyze inventory
The Analyze Inventory window gives you detailed information about how much inventory you have on hand, what is committed, what is on order, and what is available. This analysis is based on all the sales and purchases recorded in your company file. 1 Go to the Inventory command center and click Analysis. The Analyze Inventory window appears. 2 Display the required view of the Analyze Inventory window. The Summary view displays all inventoried items, while the Item Number view displays all the customer and vendor orders for a selected item. 3 If you use multiple locations to store your inventoried items, the Group by Item view displays all inventoried items grouped by the item number. The Group by Location view displays all inventoried items grouped by location, while the Item Number view displays all the customer and vendor orders for a selected item.

Analyze Inventory [Summary] report. The summary and detailed versions of this report serve as your order book. You can view a list of all your sales orders and purchase orders for all or selected items. Items List [Summary] report. This report shows information about your items, including their on-hand quantities and total value. The Items List Summary report also shows an items current average cost price, which is important to know when making inventory adjustments. You can use this report to compare your total inventory value to the total of your inventory asset accounts. Price [Summary] report. This report lists your item prices, and is useful for sending to your customers. You could also convert this report to HTML and post your price list on an intranet or Internet site.

To view sales and purchases history for an item

1 Go to the Inventory command center and click Items List. The Items List window appears. 2 Click the zoom arrow ( ) next to the item you want to view. The Item Information window appears. 3 Click the History tab. The History view displays the purchase and sales history for the item for seven years: five past years, the current year and the next year.

To view inventory reports

There are several reports that you can generate to keep track of your inventory. The following is a list of some of them. For information on finding, customizing and printing reports, see Chapter 12, Printing and customizing reports on page 187.

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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 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 Inventory command center and click Set Item Prices. The Set Item Prices window appears. 2 Click the select column ( update. ) next to the items that require a price

To change the price of an item

1 Go to the Inventory command center and click Set Item Prices. The Set Item Prices window appears.

3 Click Shortcuts. The Pricing Shortcuts window appears.

If an item is not listed, it means that you havent 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. 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.

4 Indicate how you want the price rounded, the basis for calculating the price, and so on. For example, if you want to markup the items prices by 10%, select the Percent Markup option and type 10 in the adjacent field. 5 If you want to: update the items you marked in step 2, click Update X Items Only update the prices of all items, click Update All Items.

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Customizing inventory
Your MYOB accounting software provides a number of inventory customization features: 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 dont need to use as report filters. Custom lists You can record information about an item and then run reports based on the custom lists. For example, if you are running a trailer-rental business, you might have custom lists of Color, Type, and Location. This means you could run a report to include only blue cage trailers at the Main Street station.
Volume discount The volume in the Volume Discount % field in the Selling Details view of a customers card applies to a sale in addition to the quantity-break price levels you set up.
NOTE :

To name your price levels

1 Go to the Lists menu, choose Custom Lists & Field Names and then Price Levels. The Custom List and Field Names window appears. 2 Enter names for the price levels. These names will appear in the Selling Details view of the Item Information window. 3 Click OK.

To specify price levels and quantity breaks for an item

1 Go to the Inventory command center and click Items List. 2 Select the item and click Edit. The Item Information window for the item appears. 3 Click the Selling Details tab. The base selling price you entered for this item in the upper section of the Selling Details view appears at Level A (or whatever you have chosen to label this field). 4 In the remaining fields (Levels B to F, or whatever you have chosen to label them), enter the selling price of this item. Make an entry for each price level you want to use.

Creating custom price levels

Your MYOB accounting 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.

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5 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, for each of which you can enter up to six price levels. Note that each quantity break must specify a quantity greater than the previous quantity break and less than the next.

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 inventory items. An example of a custom list is Color, in which you create list entries of yellow, red, green and blue. When you create or edit your items, you can assign them one of these colors. When you run an inventory report, such as the Analyze Inventory Summary report, you can choose to include only red items in the report.

To name a custom list

1 Go to the Lists menu, choose Custom Lists & Field Names, and then click Items. The Custom List and Field Names window appears. 2 Enter names for each of the three custom lists in the appropriate fields and click OK. 6 Click OK.

To assign a price level to a customer

1 Display the customers Card Information window and click the Selling Details tab. 2 In the Item Price Level field, select the price level you want to assign to the customer. You can assign one of the six price levels or the items base selling price to the customer. These custom-list names will now appear on the Item Information window.

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To create custom list entries

1 Go to the Lists menu, choose Custom Lists and then Items. The Custom Lists window appears. 2 Select the custom list for which you want to make entries in the Custom List field. 3 Click New and enter the name of the list entry. For example, if you have a color list, you would enter a color, such as Yellow. 4 Click OK. 5 Repeat step 3 until you have created all your list entries. 6 Click Close to close the Custom Lists window.

Printing custom field entries purchases and invoices

You can customize your invoices and purchases to include the custom lists. For more information on customizing and printing forms, see Chapter 13, Forms, starting on page 195.

Creating custom fields

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 inventory reports

To name a custom field

1 Go to the Lists menu and choose Custom Lists & Field Names and then Items. The Custom List and Field Names window appears. 2 In the Name of Custom Field fields, type the names and click OK.

To assign a custom list entry to an item

1 Go to the Inventory command center and click Items List. 2 Click the zoom arrow ( ) to the left of the item. The Item Information window appears. 3 Click the Item Details tab. 4 Select the list entry you require from the appropriate custom list. 5 Click OK.

Custom lists and inventory reports

You can generate reports using your custom lists as report filters. For example, you can generate a report to include only those items with a certain list entry, such as the color red. For more information on setting report filters, see Select the data to be printed on page 191. These field names will appear on the Item Details tab of the Item Information window for all items.

Printing custom field entries purchases and invoices

You can customize your invoices and purchases to include the custom fields. For more information on customizing forms, see Chapter 13, Forms on page 195.

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9 Lists
Your company file consists of different types of records. For example, details of your customers are kept as customer records, details of your accounts are kept as account records, details of recurring transactions are kept as recurring records, and so on. Individual records of one type are grouped in a list. Your company file contains numerous 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 easily edited and 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. Accounts and cards of the same type can be combined into one record. For example, you may want to combine the income accounts of two sales departments that have amalgamated, or combine the cards of two customers whose businesses have merged.

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 a card to your cards list

1 Go to the Card File command center and click Cards List. The Cards List window appears. 2 Click New. The Card Information window appears. 3 Choose the required card type: Customer, Vendor, Employee, or Personal. 4 Type a name for the card and press TAB. 5 Complete the relevant fields on this and other views of this window.

Adding a card
When you set up your company file, you created cards for your employees, customers and vendors. You can add any number of cards to your cards list. In addition to customer, vendor and employee cards, you can create personal cards for your friends and relatives.

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You may want to use the following features in the Card Details view: Pictureallows you to link an image to the card. See Linking a picture to a record on page 250. Identifiersare useful for grouping your cards. See Organizing your cards on page 249. Custom lists and fieldsfor recording additional information about the card. See Recording additional information about your cards on page 250.

3 In the Profile tab, specify whether the account is a header account or detail account. Header accounts group related detail accounts. The balance of the account is the sum of the balances of the grouped detail accounts. Header accounts appear in bold type. You cannot post a transaction to a header account. Detail accounts are accounts you can post transactions to. They are the accounts that appear in the accounts selection list in transaction windows. 4 Select the account type from the Account Type list. The Account Classification field changes according to the selection you make. See Setting up accounts on page 17 for an explanation of account classifications. 5 Enter a number for the account in the Account Number field. You can enter any four-digit number you like. Note that the prefix to the account number is determined by the account classification: 1- for asset accounts, 2- for liability accounts, 3- for equity accounts and so on. 6 Press TAB and type a name for the account. You can give an account any name you like. 7 Click the Details tab. 8 If you want, type a brief description of the account in the Description field. 9 If you are creating a detail balance sheet account (such as an accounts receivable account type), select an option from the Classification for Statement of Cash Flows list. 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, where you received additional cash, and where your cash was spent. Once accounts are classified, they are

Adding an account
When you set up your company file, you reviewed your accounts list and perhaps created some new accounts. If your business requires additional accounts, you can add them to your accounts list any time you want.

To add an account to your accounts list

1 Go to the Accounts command center and click Accounts List. The Accounts List window appears. 2 Click New. The Edit Accounts window appears.

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displayed in the section of the report you specified. If youre unsure about which classification to use, consult your accountant. 10 If you enter transactions in multiple currencies, type or select the currency for transactions that will be posted to this account in the Currency field.
Multiple currencies preference You will need to have indicated that you deal in multiple currencies in your preferences. See Setting up preferences on page 16.
NOTE :

a recurring transaction, see page 174 a foreign currency, see page 180 a category, see page 208 a job, see page 209.

Adding records using Easy-Add

You can create new records easily using the Easy-Add feature. Accounts, cards, categories, comments, custom list items, jobs, referral sources and shipping methods can be added to your lists when entering transactions.

11 If you selected Bank or Credit Card in the Account Type list in step 4 and you want to keep a record of your bank account number and bank account name, click the Banking tab and enter your account details. Copy this information exactly as it appears on your bank statement or checkbook. 12 [Optional] If you want to set a budget: a Click Budgets. The Prepare Budgets window appears. b Type the budget amounts in the monthly columns. c Click Close when youve finished entering the budget amounts. For more information on budgets, see Budgets on page 211. 13 Click OK when you have finished. The account you created will now appear in your accounts list.

To create a record using Easy-Add

Lets assume you want to add a customer card while entering a sale. 1 In the Sales command center, click Enter Sales. The Sales window appears. 2 Type the customers name and press TAB. If there is no card for this customer, the Select from List window appears. 3 Click Easy-Add. A new customer card is added to your cards list. You can now complete your task with the new card. 4 Whenever you have time, go to the Card Information window and enter the sales entry.
NOTE : 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.

Adding other records

If you want to add: a payroll category, see page 100 a time billing activity, see page 124 an item, see page 134 an inventory location, see page 139 a tax code, see page 154

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Setting up tax codes

Tax codes are used to track tax paid to and by your business. Each tax code represents a particular type of tax, which is used to calculate tax on your transactions. Your MYOB accounting software has an extensive list of tax codes that can be used in a variety of situationsfor example, when doing business with overseas customers, when tracking capital acquisitions and so on. In addition, you can create an unlimited number of tax codes.
Consolidated tax codes You can create consolidated tax codes by combining two or more tax codes. For example, the CST tax code (with an 8.25% tax rate) is composed of CTY (City Sales Tax) at 4%, STE (State Sales Tax) at 4% and MET (Metropolitan Tax) at 0.25%.

To create a tax code

1 Go to the Lists menu and choose Tax Codes. A list of tax codes appears. 2 Click New. The Tax Code Information window appears. 3 In the Tax Code field, type a code (up to three characters) for the new tax and press TAB. 4 Complete the other fields in this window.

A B

Enter a description, type and rate. If you selected Consolidated as the Tax Type, see Consolidated tax codes above. If the Tax Type is Sales Tax, specify the linked account for tax collected. If the Tax Type is Import Duty, specify the linked account for accrued duty. Specify a linked card, if applicable.

NOTE : You can only consolidate tax codes that are in your tax code list Make sure you first create the tax codes you want to consolidate. The rest of the fields are filled in for you and the consolidated tax rate is calculated automatically.

5 Click OK when you have finished. The new tax code you created will now appear in your tax codes list.

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Finding a record
Records are stored and displayed in lists. For example, the Jobs List window lists the jobs you have created, the Accounts List window lists your accounts, and so on. As lists get long, it can take time to locate a record. Use the following tools to quickly find a record.
Tabs Some lists are divided into separate views using tabs. For instance, the accounts list is divided by account type into eight views (using eight tabs), making it easier for you to find an account. For example, if you are looking for an asset account, click the Asset tab. Within the tab you can use the scroll bar to find the account. Advanced search filters Search fields

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.

The Cards List window and Items List window have a Search field that you can use to locate a record quickly. Simply type a few characters of the card name or item name in the

You can use advanced search filters such as the recontact 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 (if youve selected the I Deal in Multiple Currencies option in the Preferences window). items inventory locations jobs payroll categories tax codes time billing activities

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To change a record
1 Display the list to which the record belongs. For example, if you are making changes to an account, display the Accounts List window; if you are changing an item, display the Items List window, and so on.

2 Locate the record you want to change in the list. Use a search method described in Finding a record above, if necessary. 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.

Inactivating or reactivating a record

If you have accounts, cards, items, inventory locations, activities, or jobs that you rarely usefor example, a card you created for a one-off sale or purchaseinactivating 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 center. For example, if you are inactivating a card, go to the Lists menu and choose Cards, or go to the Card File command center and click Cards List. 2 Locate the record you want to inactivate or reactivate and click the zoom arrow ( ) next to it. The records details appear. For cards, accounts and items, select the Profile tab. 3 Mark or clear the Inactive [...] checkbox.

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Deleting a record
You can delete a record that you no longer need. However, a record must meet certain criteria before it can be deleted. For example, most records cannot be deleted if they have been used in transactions.

Deleting other records

You can only delete: a card, foreign currency, tax code, payroll category, item, inventory location or job that has not been used in a transaction. If transactions exist, you need to delete the transactions before you can delete the record. a card that has not been used in a quote, order or recurring template an item with a zero quantity in inventory 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 youve recorded for it have been purged a foreign currency record that has not been linked to a card.

Deleting an account
You can delete an account if it meets the following criteria: the account isnt a level-1 account the account has a zero balance no journal entries used the account none of your recurring templates used the account the account isnt used as a linked account for any transaction types the account isnt linked to any of the items youve entered.

To delete an account
1 Go to the Accounts command center and click Accounts List. The Accounts List window appears. 2 Click the zoom arrow ( ) next to the account you want to delete. The account details are displayed in the Edit Accounts window. 3 Go to the Edit menu and choose Delete Account.

To delete other records

1 Go to the Lists menu and choose the list to which the record belongs. For example, if you are deleting an item, choose Items; if you are deleting a card, choose Cards, and so on. 2 Locate the record you want to delete and click the zoom arrow ( ) next to it. The record details appear in the Information window. 3 Go to the Edit menu and choose Delete [...]. For example, if you want to delete a customer card, choose Delete Card.

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Combining records
In some situations you may want to combine two records. For example, you may have records in your cards list for two vendors who have merged their operations. Or you may have separate accounts for two departments whose sales figures you now want to combine. When you combine two records, you identify one as the primary record and the other as the secondary record. The primary record 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.
NOTE : Historical reports When you view historical reports from the previous fiscal year (for instance, the previous fiscal years balance sheet), the primary account is listed showing the combined account balance.

combined card. The transaction details for the secondary card are added to the primary card. Non-transaction information for the secondary card is deleted.

To combine two cards

1 Go to the Card File command center and click Cards List. The Cards List window appears. 2 Select the primary card. 3 Click Combine Cards. The Combine Cards window appears.

Combining Cards
You can combine: customer cards vendor cards personal cards. You cannot combine: cards with a different type cards with different currencies cards if the primary card is inactive. When cards are combined, the non-transaction card information for the primary cardsuch as card name, address and buying and selling detailsis retained as the default information for the 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.
CAUTION : The next action cannot be undone Before continuing, check that youve 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.

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5 Click Combine Cards. 6 In the next confirmation window, click OK to confirm you want to combine the two cards.

To combine two accounts

1 Go to the Accounts command center and click Accounts List. The Accounts List window appears. 2 Select the primary account. This is the account that the secondary accounts transaction history and opening balance will be transferred to. 3 Click Combine Accounts. The Combine Accounts window appears.

Combining accounts
You can only combine accounts that are: local currency accounts accounts of the same account type (for example, asset and expense accounts cannot be combined) and detail accounts. You cannot combine: header accounts accounts that are linked to other accounts. When accounts are combined, the non-transaction account information for the primary cardsuch 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.
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.

The primary account appears under the Primary - Move all transactions to list. If necessary, you can choose another primary account from the list. 4 Select the secondary account from the Secondary - Remove all transactions from list.
CAUTION : The next action cannot be undone Before continuing, check that youve selected the correct accounts to be combined. If you combine the wrong accounts, you will have to restore from a backup and re-enter transactions posted to the accounts since the backup.

5 Click Combine Accounts. 6 When the next window appears, click OK to confirm you want to combine the two accounts.

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Synchronizing your MYOB cards and your Microsoft Outlook contacts

You can synchronize your MYOB cards and your Microsoft Outlook contacts. If your business uses Microsoft Outlook to email and manage contact information, this will make it easier for you to keep both your MYOB cards and your Outlook contacts up-to-date. Your MYOB cards are your customer, vendor, employee and personal cards stored in your MYOB card file. Your Outlook contacts are your contacts stored in your Microsoft Outlook address book. When you synchronize your MYOB cards and your Outlook contacts, you can: make the details in your Outlook contacts match the details in your MYOB cards (by exporting your MYOB cards to your Outlook contacts) or make the details in your MYOB cards match the details in your Outlook contacts (by importing your Outlook contacts to your MYOB cards). When you synchronize, the following details are imported or exported: company name or contact name, address details, email and web addresses and telephone, fax and cell 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 Spouses name fields in your Outlook contacts. For information on setting up Card File custom fields see Recording additional information about your cards on page 250.
Synchronization update rules As part of the synchronization process, you choose whether or not you want to update the details for existing contacts. To do this, you select from one of the following update rules:
Update existing contacts
New contacts are added and existing contacts are updated. You will not be prompted to confirm updates.

Do not update existing New contacts are added but existing contacts are not updated. You are not prompted to contacts
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.

You require Microsoft Outlook 2000 (or later), MYOB Outlook Sync and MYOB ODBC Direct v7 installed on your computer. For more information, refer to the Premier Accounting 2007 Getting Started Guide.
Software required
CAUTION :

Single-user access required Synchronizing cards and Outlook contacts requires single-user access. For more information, see Single-user file locking for special tasks on page 241.

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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.

2 Click Sync Cards. The Synchronize Cards window appears.

If you use a Personal Digital Assistant (PDA) and want to synchronize your Outlook contacts and your PDA, your contacts must be saved to the Microsoft Outlook default contacts folder. When you export your MYOB cards to your Outlook contacts, you can select an option to save your contacts to the default contacts folder (see step 7 on page 162).
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 synchronizing. See your Microsoft Outlook User Guide for instructions.

3 Select the card types that you want to synchronize.

NOTE : You can synchronize cards from any of the Cards List tabs (All Cards, Customer, Vendor, Employee and Personal)

The default card type selected varies according to the tab you are on when you click Sync Cards.

4 Click Synchronize Cards. The Import and Export Options window appears.

To export your MYOB cards to your Outlook contacts

1 Go to the Card File command center and click Cards List. The Cards List window appears. 5 If you want to include inactive cards in your synchronization, select the Allow the export of inactive MYOB cards to Outlook option. For information about inactive cards, see Inactivating or reactivating a record, on page 156.

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6 Select a synchronization rule from the Update Rules list. For more information, see Synchronization update rules, on page 160. 7 If you want to save your MYOB cards to your Outlook contacts default folder (you need to do this to synchronize your Outlook contacts and your PDA), or if you want to export your MYOB custom fields to your Outlook contacts, click Settings. The Synchronize Cards Settings window appears.

9 Specify a period for your MYOB software to access your Outlook contacts: a Select the Allow access for option. b Select a period from 1 minute to 10 minutes. c Click Yes. The export process starts. 10 If you selected the Update existing contacts rule or the Do not update existing contacts rule, the Export Summary window appears. Go to step 11 on page 163. If you selected the Ask me to confirm updates rule, the Confirm Update to Outlook Contact window appears. Specify how you want to deal with each update. When you have confirmed all updates the Export Summary window appears.

a If you want to synchronize your Outlook contacts and your PDA, select the Import and export all MYOB cards to the default contacts folder option. All contacts are then saved to your default Outlook contacts folder. b If you want to export your MYOB custom fields to your Outlook contacts, select a matching Outlook contact field for Custom Field 1, Custom Field 2 and Custom Field 3. c Click OK. The Import and Export Options window reappears. 8 Click the Export button. A Microsoft warning appears.

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11 Review the export summary.

Added new contacts Updated duplicate contacts The number of new contacts added to your Outlook 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. The number of cards you skipped (if you selected the Ask me to confirm updates rule) or the number of duplicate contacts (if you selected the Do not update existing contacts rule). Duplicate contacts have not been updated to match your MYOB cards. Note that if you selected the Update existing contacts rule, rejected cards will always be 0.

Importing from the default contacts folder

If you want to import your contacts to MYOB cards from the default Outlook contacts folder, enter the card type for each contact in the Categories field of the General tab.

Rejected cards

NOTE : 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 filereadable by any Internet browsercan be found in the C:\Premier2007\OutlookSync folder.

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, Vendor, Employee or Personal contact.
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 is to ensure that blank fields do not overwrite contact details recorded in your MYOB cards.

You need to save your contacts to group contact folders labelled MYOB Customer, MYOB Vendor, MYOB Employee and MYOB Personal. For instructions on how to set up group contact folders in your Outlook contacts, refer to your Microsoft Outlook User Guide.
Importing from group contacts folders

Before importing your Outlook contacts Check that the details recorded in your Outlook contacts are up-to-date and entered in the correct field.

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To import your Outlook contacts to your MYOB cards

1 Go to the Card File command center and click Cards List. The Cards List window appears. 2 Click Sync Cards. The Synchronize Cards window appears.
CAUTION : Back up your company file Importing your Outlook contacts to your MYOB cards will change the details recorded in your company file. To avoid losing contact details stored in your company file, back up your company file before synchronizing. For more information on backing up your Company File, see Backing up and restoring company files, on page 236.

4 Click Synchronize Cards. The Import and Export Options window appears.

5 Select a synchronization rule from the Update Rules list. For more information, see Synchronization update rules, on page 160. 6 If you want to import your Outlook contacts from the default Outlook contacts folder, click Settings. The Synchronize Cards 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 Click the Import button. The Microsoft Office Outlook window appears.

3 Select the card types that you want to synchronize.

NOTE : You can synchronize cards from any of the Cards List tabs (All Cards, Customer, Vendor, Employee and Personal).

The default card type selected will vary according to the tab you are on when you click Sync Cards.

8 Specify a period for your MYOB software to access your Outlook contacts: a Select Allow access for option.

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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 Import Summary window appears. Go to step 10 below. If you selected the Ask me to confirm updates rule, the Confirm Update of MYOB card window appears. Specify how you want to deal with each update. When you have confirmed all updates the Import Summary window appears. 10 Review the import summary.

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 filereadable by any Internet browsercan be found in the C:\Premier2007\OutlookSync folder.

Updated or added cards Updated or added cards with warnings Skipped contacts

The number of cards added or updated in your MYOB cards. The number of cards updated but the details in your MYOB cards may be incomplete. 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.

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10 Transactions
A transaction is an entry that changes the balance of accounts. Your MYOB accounting software creates transactions when you record such entries as sales invoices, purchase orders and inventory adjustments. You can search for transactions by journal, account, card, invoice, purchase, category or job number. You can find transactions for a given date range or conduct more sophisticated searches. For example, you could look for checks issued in a given date range where the memo contains specific words. Once you have found the transaction you require, you can open the original transaction window. Here you can change, delete or reverse the transactiondepending on how your preferences are set up. You can also recap a transaction to see the journal entries for the transaction. 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 set up due dates for payment of obligations such as rent and utilities set up weekly reminders about sales and purchases, and monthly or annual reminders to record depreciation. You can also set up your MYOB accounting software to record recurring transactions automatically on their due date.

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Finding a transaction
There are several ways to find a transaction. The method you use depends on the information you have at hand.
Use the... Find Transactions window Sales Register To find... journal entries, sales, purchases, checks, deposits, vendor and customer payments. See below

2 In the Find Transactions window, click the appropriate tabfor example, the Card tab to search by card. 3 Filter your search using the Search By and date range fields. For example, to search for all transactions made on October 10th, 2007, relating to Carolina Industries, you would make the following selections in the Card view.

transactions relating to sales (such as open, below closed and recurring invoices), quotes, orders, credits and returns. This search method is most useful if you know the transaction date or the customers name. transactions relating to purchases (such as page 169 open, closed and recurring purchases) quotes, orders, debits and returns. This search method is most useful if you know the transaction date or the vendors name. spend money, pay bills, receive payments and receive money transactions. page 169

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. 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.

Purchases Register

Bank Register Items Register

inventory item transactions over a page 170 particular date range. This includes inventory adjustment, build item and autobuild transactions. any transaction by source journal. recurring transactions. You can sort transactions by name, type or frequency, or search for a transaction by name, amount or next due. page 170 page 171

To find a transaction using the Sales Register window

The Sales Register window lists all open and closed invoices, quotes, orders, returns and credits and recurring templates. You can also view a list of all sales. 1 Go to the Sales command center and click Sales Register. The Sales Register window appears.

Transaction Journal window Recurring Transactions List window

To find a transaction using the Find Transactions window

1 From any command center, click Find Transactions.

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2 Click the tab of the sales category you would like to viewfor example, Open Invoices.

2 Click the tab of the type of purchase you would like to viewfor example, All Purchases.

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. You can view a transaction in detail by clicking the zoom arrow ( ) next to it.

3 [Optional] Filter your search using the Search By and date range fields. The transactions that match your search criteria appear in the Purchases Register window. You can view a transaction in detail by clicking the zoom arrow ( ) next to it.

To find a transaction using the Purchases Register window

The Purchases Register window lists all open and closed purchases, quotes, orders, returns and debits and recurring templates. You can also view a list of all purchases. 1 Go to the Purchases command center and click Purchases Register. The Purchases Register window appears.

To find a transaction using the Bank Register window

You can use the Bank Register window to find spend money, pay bills, receive payments and receive money transactions.

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1 Go to the Banking command center and click Bank Register. The Bank Register window appears.

2 In the Search By field, specify whether you want to view transactions for all items or a single item. 3 If you selected Item at step 2, type or select the item number in the adjacent field. 4 In the Dated From and To fields, enter the date range during which the transaction was recorded. The transactions that match your search criteria appear in the Items Register window.

2 Specify the bank, credit card or petty cash account you used for the transaction in the Account field. 3 In the Dated From and To fields, enter the date range during which the transaction was recorded. The transactions that match your search criteria are listed in the Bank Register window. 4 If you want to view a transaction in detail, click the zoom arrow ( ) next to the transaction.

5 If you want to view a transaction in detail, click the zoom arrow ( ) next to the transaction.

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 items quantities and values appears. 1 Go to the Inventory command center and click Items Register. The Items Register window appears.

To find a transaction using the Transaction Journal window

The Transaction Journal window groups all your accounting entries into one of six journals: general, disbursements, receipts, sales, purchases and inventory. It also enables you to display all transactions. 1 Click Transaction Journal from any command center (except Card File). The Transaction Journal window appears.

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2 Click the appropriate tabfor example, the Sales tab to find a sales invoice, the Disbursements tab to find a payment, and so on.

5 If you want to view a transaction in detail, click the zoom arrow ( ) next to the transaction.

To find a recurring transaction in the Recurring Transactions List window

1 Go to the Lists menu and choose Recurring Transactions. The Recurring Transactions List window appears.

3 In the Dated From and To fields, enter the date range within which the transaction was recorded. All transactions between (and including) these dates will be listed. 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. 2 Locate the recurring transaction. You can: sort transactions by name, type or frequency search for a recurring transaction by name, amount or due date.

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. Occasionally, you may need to make changes to or delete a transaction you have already recorded. A transaction can be edited or deleted only if it is changeable. A changeable transaction is distinguished by a white zoom arrow ( ) next to it. Making your transactions changeable or unchangeable is a preference you can alter at any time. This preference is the Transactions CANT be Changed; They Must be Reversed option on the Security tab view of the Preferences window. The default setting when you install your MYOB accounting software is that your transactions are changeable.

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If you want to maintain a strict audit trail, you should consider making your transactions unchangeable by setting this preference. An unchangeable transaction is identified by a gray zoom arrow ( ) next to it. If you make your transactions unchangeable, you need to reverse the transaction to cancel its effect on your accountssee Reversing a transaction on page 173.

If you applied a vendor debit towards a purchase, you must delete the debit before you can delete the purchase. A credit note applied to a sale must also be deleted before the sale can be deleted.
Group Receipts in the undeposited funds account

Changing a transaction
CAUTION : Transactions that cannot be changed You cannot change a customer payment, vendor payment, paycheck, refund check or a bank deposit once it has been recorded. You can only delete or reverse these transactions.

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.

To change a transaction
1 Find and display the transaction in its original transaction window. See Finding a transaction on page 168. 2 Make the necessary changes to the transaction and then click OK.

Reconciled transactions If you delete a reconciled transaction, your bank reconciliation will be out of balance. Reconciled transactions should be reversedsee Reversing a transaction on page 173. Insufficient on-hand item quantities

You cannot delete a purchase if it will result in a negative on-hand inventory count.

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

To delete a transaction
1 Find and display the transaction in its original transaction window. See Finding a transaction on page 168 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.

does not have a payment applied to it. If you have recorded a payment for a sale or purchase, you must first delete the payment and then delete the transaction. Any early payment discounts that have been given must also be deleted before the transaction can be deleted.

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Reversing a transaction
If your accountant wants you to maintain a strict record of all your accounting entries, you should reverse a transaction rather than change or delete it. A reversal transaction is a new transaction that replicates the original transaction, but with debit amounts shown as credit amounts and vice versa. After posting a reversal transaction, you have two transactions (the original and the reversal), but the account balances appear as if the original transaction was never posted. You can only reverse a transaction if it is unchangeable. An unchangeable transaction is identified by a gray zoom arrow ( ) next to it. To make your transactions unchangeable, mark the Transactions CAN'T be Changed; They Must be Reversed preference on the Security view of the Preferences window. You can change this preference at any time. When you reverse a transaction, you cannot change the accounts or amounts. Also be aware of the date of a reversal transaction: 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 months financials should be reprinted because they will have changed.
Customer and vendor 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 on how to find a transaction, see Finding a transaction on page 168.

Negative inventory

You cannot reverse a purchase that will result in a negative on-hand inventory count.

To reverse a transaction
1 Display the transaction you want to reverse. See Finding a transaction on page 168 for instructions. 2 Go to the Edit menu and choose Reverse [...]. For example, if you want to reverse a sale, choose Reverse Sale. A new transaction containing corresponding negative amounts to that of the original transaction will appear. 3 If you want, alter the date and memo. Note that you cant 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.

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Recurring transactions
If you have transactions that you record time and time againfor example, a rent check or depreciation expensesyou can set them up as recurring transactions and save them for future use. After setting up a recurring transaction, you can specify that it is recorded automatically if the transaction details are the same each timesuch 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, checks, deposits and general journal entries.
If you want to... Create a recurring transaction Create a recurring transaction from an existing entry Edit a recurring transaction Delete a recurring transaction Record a recurring transaction Record several recurring transactions See below page 175 page 176 page 177 page 177 page 177

1 Enter the transaction details in a transaction windowsuch as the Sales windowif you make regular sales to a customer. 2 Click Save as Recurring instead of clicking Record. The Edit Recurring Schedule window appears.

3 In the Recurring Transaction Name field, type a name to identify the template.
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.
NOTE : Pre-dated recurring transactions You can save a recurring transaction with a start date prior to the system date, provided the date entered is within the current fiscal year and is not in a locked period.

To create a recurring transaction

When you save a transaction as a recurring template, you can specify how often you want the transaction to be recorded, and for how long you want to schedule it. For example, you can schedule your car payments monthly, for the next 22 months.

6 Indicate how long you want the recurring transaction to continue. Click:

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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 # of times to schedule the transaction for a set number of times. Type the number of times in the adjacent field.
CHOOSE ALERT OPTIONS

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 [...] #. If you want to specify a transaction ID, click Use the following as the [...] #, 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. 11 Click Save. The transaction window reappears. 12 Click Cancel to close the transaction window. The transaction will now appear in the Recurring Transactions List window. See To find a recurring transaction in the Recurring Transactions List window on page 171.

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. Also note that pre-dated recurring transactions cannot be recorded automatically. 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 select # days in advance, you need to enter the number of days in the adjacent field. d In the user field, select the user who needs to be reminded. e Continue with step 9 below. 8 If you want 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.

To create a recurring transaction from an existing entry

You can create a recurring transaction by copying an existing recurring transaction entry, then customizing the details for the new one. 1 Go to the Lists menu and choose Recurring Transactions. The Recurring Transactions List window appears.

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2 Select the recurring transaction you want to copy and click Create Copy. The Create Copy window appears.

7 If you need to change the schedule details or the name of a new recurring transaction: a Select the recurring transaction. b Click Edit Schedule. c Make the changes in the Edit Recurring Schedule window. d Click Save. 8 Click Close.

3 In the Card field, click the search button (

).

The Select from List window appears listing only card types relevant to the type of recurring transaction you are copying. For example, a purchase transaction can only be applied to your vendor cards. 4 Select the cards you want create a copy for: if you want to select all the cards, click the icon above the select column ( ) if you only want to select some cards, click in the select column next to each required card. 5 Click OK when youve finished selecting from the list. The Create Copy window reappears. 6 Click Save.
If you selected... One card Then... The transaction window for the new recurring transaction appears. You can edit the transaction details if required. Click Save. The Recurring Transactions List window appears. More than one card The Recurring Transactions List window lists all your recurring transactions. Each new transaction has a unique namethe original name suffixed by the name of the relevant card.

To edit a recurring transaction

You can edit the details of a recurring transaction (such as the check 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: a Select the recurring transaction you want to change and click Edit. The transaction window appears for the selected type of recurring transaction. b Make the necessary changes. c Click Save. 3 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. 4 Click Close when youve finished editing the recurring transaction.

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To delete a recurring transaction

Deleting a recurring transaction template only removes it from your list of recurring transaction templates. Transactions recorded previously using the recurring template are not affected. 1 Go to the Lists menu and choose Recurring Transactions. The Recurring Transactions List window appears. 2 Select the recurring template you want to delete and click Delete. A message appears. 3 Click OK to delete the recurring transaction.

To record a recurring transaction from a transaction window

1 In the transaction window for the type of recurring template created (such as the Purchases window), click Use Recurring. The Select a Recurring Transaction window appears.

Recording recurring transactions

For recurring transactions that are not set up to record automatically, you can: record a single recurring transaction from a transaction window record several transactions at the same time if you use the reminders option, record a recurring transaction from the Reminders window. For more information, see Responding to reminders for recurring transactions on page 178. You can also record a recurring transaction from the Recurring Transactions List window by going to the Lists menu and choosing Recurring Transactions. 2 Choose the required template from the list and then click Select. The transaction appears. 3 Verify the date, amount, account and other details and make any necessary changes. 4 Click Record.

To record multiple recurring transactions

1 From any command center, click To Do List. The To Do List window appears. 2 Click the appropriate tabRecurring 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.

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3 Click in the select column ( you want to process.

) next to any recurring transactions

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. 5 Enter a date and click OK.

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.

Responding to reminders for recurring transactions

You can use your MYOB accounting software to remind you on, or before, the scheduled date of a recurring transactionsee Choose alert options on page 175. If you use this option, your MYOB accounting software checks the reminder dates each time you open your company file. When a recurring transaction is due (or overdue), the Reminders window appears.

To respond to the Reminders window

1 In the Reminders window, choose the required option.
Click... If...

Skip This Period You dont want to record the transaction this period. The reminder is removed from the list. Remind Tomorrow Remind When Due Record You dont want to record the transaction today, but want to be reminded tomorrow. You dont want to record the transaction today, but want to be reminded when the transaction is next due. You want to record the transaction now.

2 Click Close to close the window and be reminded again next time you open the company file.

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11 International transactions
You can enter transactions in a number of currencies in addition to your local currency, the U.S. dollar. You can record transactions in dollars, pounds, euros, yen or any other currency you use when buying and selling goods and services. You can also track overseas bank accounts and foreign assets and liabilities. If you deal in multiple currencies, its important to track the effects of currency exchange fluctuations on your business. MYOB accounting software provides detailed reports to help you manage both unrealized gains and losses (potential changes in the value of overseas transactions) and realized gains and losses (the actual changes in the value of your assets, liabilities and equity that occur when you exchange foreign currency for U.S. dollars). The multiple-currency feature is optional. If all your business is conducted with customers and vendors in the United States, theres 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 the United Kingdom, you will need to create a separate Accounts Receivable account for your sales in pounds. 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 accountsasset, liability and equity accountscan be assigned a foreign currency. All other types of accounts are tracked using U.S. dollars. Your local currency, the U.S. dollar, is automatically set up for you. As this currency is used to determine the value of all other currencies, it cannot be deleted and its exchange value is fixed at 1. Before you begin entering transactions, you need to specify the appropriate currency for all your overseas customers and vendors. Only one currency can be used for each customer or vendor (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.

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Setting up multiple currencies

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 U.S. dollars. 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. At this stage, you only need to complete the Currency Profile tab. 4 Click OK.

Step 1: Select the multiple currency option

1 Go to the Setup menu and choose Preferences. The Preferences window appears. 2 Mark the I Deal in Multiple Currencies checkbox 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.
NOTE : This selection cannot be undone Once you begin entering multicurrency transactions, you cannot clear this checkbox.

Step 3: Create accounts to track foreigncurrency transactions

In order to correctly track transactions in a foreign currency, you must create a number of accounts that are set up to use that currency rather than U.S. dollars. You cannot simply use the same accounts you use for your U.S. dollar transactions because the dollar and other currencies rarely trade at par with one another (that is, one dollar rarely buys exactly one monetary unit in any other currency).
NOTE : Foreign-currency accounts are automatically linked For every foreign-currency account you create, MYOB accounting software will automatically create a linked exchange account. For example, if you create a yen checking account, a yen exchange account will be created automatically. MYOB accounting software uses these dual accounts so that both the foreign currency amount and the local currency equivalent of a transaction can be viewed in your Balance Sheet.

4 Click OK to close the Preferences window.

Step 2: Set up records for foreign currencies

MYOB accounting software 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: United States dollar, Canadian dollar, Mexican nuevo peso, European Union euro, Great Britain pound, Australian dollar, Hong Kong dollar, Japanese yen and New Zealand dollar. 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.

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You can let MYOB accounting software create the linked exchange account for you or you can specify one yourself. To create an account yourself, see To add an account to your accounts list on page 152. 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.
If you make foreign sales

Bank account that will be used to pay debts in a foreign currency. This can be a U.S. funds account if your bank writes checks for you in other currencies. Asset account for deposits paid (if you make deposits on orders). This account can be assigned the currency code for either the foreign currency or the U.S. dollar. Liability account for import duties collected (if youre required to pay duty on goods you import). This account can be assigned the currency code for either the foreign currency or the U.S. dollar.
If you track unrealized gains and losses

Heres a list of the accounts you are likely to need if you accept payment from customers in a foreign currency. Asset account for tracking receivables (for instance, Accounts ReceivableNew Zealand). This account must be assigned the foreign currency and not the U.S. dollar. Bank account where customer receipts in the foreign currency will be deposited. This can be a U.S. funds account if your bank accepts deposits in other currencies. Liability account for deposits received (if you allow customers to make deposits on orders). This account can be assigned the currency code for either the foreign currency or the U.S. dollar.
NOTE :

If you plan to track unrealized gains and losses, you need to create an income account for this purpose. You may want to name it Unrealized Currency Gain/Loss or something similar. We recommend that you consult your accountant to determine whether your business needs to track unrealized gains and losses and, if it does, the most appropriate way for it to do so. See Tracking currency gains and losses on page 183 for more information. Depending on your business, you may need to create additional accounts to track foreign bank accounts, assets held overseas and the like. If you are unsure about the accounts, ask your accountant or an MYOB Certified Consultant.

Grouping with undeposited funds Only receipt transactions that are in U.S. currency may be grouped as a deposit of undeposited funds. Also you may only use a U.S. currency account as the linked account for undeposited funds.

Step 4: Assign accounts to foreign currencies

1 Go to the Lists menu and choose Currencies. The Currencies List window appears. 2 Click the zoom arrow ( ) beside the currency you want to assign to one or more accounts. The Currency Information window appears.

If you make foreign purchases

Heres a list of the accounts you are likely to need if you make payments to vendors in a foreign currency. Liability account for tracking payables (for instance, Accounts PayableHong Kong). This account must be assigned the foreign currency and not the U.S. dollar.

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3 Select the required tab. Click either: the Receivable Accounts tab if customers pay you in this currency, or the Payable Accounts tab if you pay vendors in this currency. 4 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 the Help button and choose Help for This Window. 5 Repeat this procedure for each currency you want to assign to the relevant accounts.

NOTE :

A card with transactions You cant change the currency of a card that you have already used in transactions. You will need to create a new card for the customer or vendor.

Any transactions recorded for a customer or vendor card will be in the currency linked to the card. 1 Go to the Card File command center and click Cards List. The Cards List window appears. 2 Click the zoom arrow ( ) next to the required card to display the Card Information window. 3 Select the Profile tab. 4 In the Currency field, 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.)

Step 5: Assign appropriate currencies to foreign customers and vendors

The currency used to make a transaction is determined by the currency assigned to the customer card or vendor card you are using. A card can only use a single currency, so if you deal with a customer or vendor in multiple currencies, you will need to create a separate card for each currency. 5 Click OK. 6 Repeat this procedure for each card that you want to assign to a foreign currency.

Exchange rates
Foreign-currency transactions can be recorded for: Sales, Receive Payments, and Settle Returns & Credits Purchases, Pay Bills, and Settle Returns & Debits Spend Money, Receive Money, Reconcile Accounts and General Journal entries.

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Specifying the exchange rate for a transaction

When entering a transaction, you can either use the default exchange rate for the currency or enter a new rate for the transaction.

This will only affect the transaction that is currently displayed. If you want to change the exchange rate for all future transactions that use this currency, mark the Update Current Exchange Rate in the Currency List with Transaction Exchange Rate checkbox. 4 Click OK.

To change the exchange rate

1 Calculate the exchange rate first using the Currency Calculator. See Using the Currency Calculator below. 2 Click the Rate button at the bottom of the transaction window. The Exchange Rate window appears. 3 Enter the new exchange rate in the Transaction Exchange Rate field.

Using the Currency Calculator

If you receive a payment for a foreign currency invoice in your local currency, you can use the Currency Calculator to quickly calculate the exchange rate based on the foreign and local amounts, or to calculate the foreign amounts based on the local amounts and the exchange rate. You can access the Currency Calculator from any window in your MYOB accounting software: go to the Help menu at the top of the screen and choose Currency Calculator.

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 software can track these fluctuations. Gains or losses in the value of a foreign account are considered unrealized while the money is still sitting in the foreign account. When the money is withdrawn from the account, either by using it to pay for a purchase or by converting it to local currency, the gain or loss is considered realized.

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Tracking realized currency gains and losses

Realized currency gains and losses are tracked differently for sales/purchases and for deposits/withdrawals in MYOB accounting software. For realized gains or losses on sales and purchases, a posting is automatically made to the Currency Gain/Loss account. However, for realized currency gains and losses on transfersdeposits and withdrawalsyou need to make a general 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 software, a Currency Gain/Loss account is automatically created.
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.

the British customer. Using MYOB accounting softwares dual accounting system, 100 is posted to the British receivables account (which is actually $100 on the balance sheet), $80 to the British receivables exchange account and $180 to the sales account. In the following month, the British customer pays their account by depositing 100 into your London Checking account, but the exchange rate has changed from 1.80 to 1.65 dollars to the pound. The deposit is valued at $165. You originally made a sale that at the time was worth $180. When you received payment, it was worth only $165. Therefore, the $15 difference is a realized currency loss, and will be posted to the British receivables exchange account.

Transfers
Currency gains and losses that occur through the transfer of funds need to be recorded by a general journal entry. At the end of the month, you can look at the value of your foreign accounts and use the Currency Calculator (from the Help menu at the top of the screen) to calculate their true values in local currency at that time. You can then create a general journal entry where losses are posted as credits to the exchange account with a corresponding debit to your Currency Gain/Loss account. Gains are posted as debits with a corresponding credit to your Currency Gain/Loss account.
EXAMPLE

Sales and Purchases

At the time a currency gain or loss is realized, that is, a payment is received or made, an automatic posting is made to the Currency Gain/Loss account and to the exchange account for the foreign currency. The Currency Realized Gain/Loss report lists the currency gains and losses that have been automatically posted through sales and purchases during the month for foreign-currency transactions.
EXAMPLE

Say you sell goods for $180 U.S. at an exchange rate of 1.80 dollars to the pound to a British customer. MYOB accounting software records the sale at $180 and records 100 as owed by

Say the original balance in your London Checking account is zero and you then transfer $180 U.S. at an exchange rate of 1.80 dollars to the British pound account. The $180 is converted to

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100 and deposited into your London Checking account. Using its dual account system, MYOB accounting software posts 100 to the London Checking account (which is shown as $100 on the balance sheet), and $80 to the London Checking exchange account. The following week you withdraw that 100 from the bank at an exchange rate of 1.75 dollars to the pound. MYOB accounting software values the withdrawal at $175. You put 100 into the account that at the time was worth $180. When you withdrew the 100 from the account, it was worth only $175. Therefore, the $5 difference is a realized currency loss. If you looked at your balance sheet, you would see a zero value for the London Checking account, but $5 remaining in the London Checking exchange account. You need to post the $5 in the exchange account to your Currency Gain/Loss account.

Unrealized currency gains and losses

An unrealized gain or loss is a potential gain or loss at any point in time between the recorded sale or purchase and the receipt or issue of payment. No automatic postings are made to track unrealized gains or losses on foreign-currency transactions. Not all businesses need to track unrealized currency gains or losses. You should check with your accountant to determine whether your business needs to track them. The Currency Unrealized Gain/Loss report lists the gain or loss made on each foreign currency. You can then use this information to make adjustment postings to each of your foreign-currency accounts for your balance sheet and also to a profit & loss account.

Miscellaneous transactions
Transferring funds to a foreign account
You may want to transfer funds from a local-currency account to a foreign account. This is easily done through the Spend Money window. 1 Display the Spend Money window. 2 In the Pay from Account field, enter the local currency checking account from which the check is being written. 3 Click the Currency button. In the Exchange Rate window, choose the foreign-currency account in which you want to make a deposit and click OK. 4 In the Spend Money window, enter the date, amount, payee, memo and check number. 5 In the Account # (or Name) column, enter the account to which you want to allocate the transaction. 6 Record the transaction.

Entering foreign-currency transactions in a local account

In MYOB accounting software, you can enter foreign-currency transactions in a local-currency account. For example, you can accept a check from a British customer in pounds and bank it in a U.S. checking account.

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EXAMPLE

Lets look at an example of how to accept a foreign-currency check into a local-currency account. Our example uses British pounds. Lets also assume the exchange rate has changed from 1.65 to 1.80 since you made the original sale. 1 Display the Receive Payments window. 2 Select the customer. The currency for this customer card is British pounds, so the Rate button displays GBP. You have received a check from your customer for 5,000 for an outstanding invoice, and you want to bank it in your U.S. checking account. 3 Process the customer payment in the usual way, but make sure you enter your U.S. checking account when you click the Deposit to Account radio button. 4 Click the Rate button to check the default currency rate for the British pound to the U.S. dollar. Change the rate from the default rate of 1.65 to 1.8 and click OK. 5 Enter 5,000 in the Amount Received field and allocate it to the outstanding invoice. 6 Record the payment.

There are two methods by which you can reconcile accounts containing foreign transactions: If you have your security preferences set to allow records to be changed, simply click the zoom arrow ( ) for the transaction in the Reconcile Accounts window to display the original transaction. Click the Rate button and change the exchange rate to match the bank statement. If you have the security preferences set so that records cannot be changed, click the zoom arrow ( ) next to the transaction, choose Reverse Check Transaction from the Edit menu, and re-enter the check with the correct exchange rate.

Currency reports
There are three specific currency reports, which are accessed from the Accounts tab of the Index To Reports window: The Currencies List reportlists all your currencies with their currency code, currency symbol and last entered exchange rate. The Realized Gain/Loss reportdisplays realized gains or losses on transactions per account. The Unrealized Gain/Loss reportdisplays unrealized gains or losses on transactions per account.

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 MYOB accounting software. This is because the exchange rate used by the bank is different from that used in MYOB accounting software at the time of the transaction.

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12 Printing and customizing reports

You can use your MYOB accounting software to monitor your business with over 100 built-in reports. If these do not entirely meet your needs, you can design custom reports with the information and appearance you want, then save these custom reports as templates to re-use when required. When reporting, select a subset of data (for example, a list of all open invoices) by specifying report criteria. You can print, email or fax reports, output them to various file formats or export them to other software for further modifications.

Quick start
Go to the Reports menu and choose Index to Reports. The Index to Reports window appears.
B Highlight a report and click View Sample to display a sample of that report. C Click Print to print the selected report. D Click Send To to send the selected report by fax or email, to save the report to disk as a PDF file, HTML file or text file, or to open the report in Microsoft Excel. E F Click Customize to choose the information you want to appear on the selected report and how you want that information to appear. Read a short description of the report you have selected here.

G Click Display to view an on-screen version of the selected report.

A Click a tab to view the reports associated with that tab. Click the Custom tab to view your custom reports.

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Once you have chosen a report and have customized it, youre ready to see the finished product. See: To display and print reports, below To save reports as files, below To send reports by email, page 189 To send reports by fax, page 189 To view reports in Microsoft Excel, page 189. 6 If you want to save the new report layout as a custom report, click Save As. This new format will be available from the Custom tab of the Index to Reports window. 7 Click Print.

To save reports as files

You can save reports in various file formats so that they can be viewed and edited in other programs. 1 Go to the Reports menu and choose Index to Reports. The Index to Reports window appears. 2 Locate and select the report you want to display. 3 If you want to filter the data and refine the appearance of the report, click Customize and specify the data you want. For more information, see Customizing reports on page 191. 4 Click Send To and choose one of the following file formats: PDF (Portable Document Format). If you save a report as a PDF file, the person who receives the report must have software, such as Adobe Reader, that is capable of opening a PDF file. HTML. When you save a report in HTML (HyperText Markup Language) format, the report can be viewed in browsers such as Microsoft Internet Explorer. Tab-Delimited Text File. When you save a report in tabdelimited 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.

To display and print reports

1 Go to the Reports menu and choose Index to Reports. The Index to Reports window appears. 2 Select the report you want to display or print and click Display. The Report Display window appears. 3 If you want to reposition or resize columns: a Select Screen Report in the View field. b To reposition a column, position the cursor over the column header until the cursor changes to the hand icon ( ), then drag the column header to a new position. c To change the width of a column, position the cursor over the icon of a column header ( ) and then drag it to change the columns width. Only columns that have this icon can be resized. 4 If you want to filter the data and refine the appearance of the report, click Customize and specify the data you want. For more information, see Customizing reports on page 191. 5 Select Print Preview from the View list in the report toolbar.

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Comma-Separated Text File. When you save a report in comma-separated text file format, fields in the report are separated by commas. Comma-separated text files can be opened by most word processing and spreadsheet software. Simple Text File. When you save a report in simple text file format, fields are separated by spaces so the appearance of the report is as similar as possible to a printed version of the report. Simple text files can be opened by most word processing and spreadsheet software. 5 In the Save As window, specify a name and location for the file and click Save.

9 Send the email and attachment from your email software as you normally would.

To send reports by fax

If you have fax software installed on your computer you can send your reports by fax. Windows 2000 and Windows XP include fax software; for more information, see Windows Help. 1 Go to the Reports menu and choose Index to Reports. The Index to Reports window appears. 2 Select the report you want to fax. 3 If you want to filter the data and refine the appearance of the report, click Customize and specify the data you want. For more information, see Customizing reports on page 191. 4 Click Send To and choose Fax. 5 Use your fax software to send the fax as you normally would.

To send reports by email

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 Go to the Reports menu and choose Index to Reports. The Index to Reports window appears. 2 Locate and select the report you want to email. 3 If you want to filter the data and refine the appearance of the report, click Customize and specify the data you want. For more information, see Customizing reports on page 191. 4 Click Send To and choose Email. The Email window appears. 5 In the Name field, type or select the individual or organization you want to send the report to. 6 If necessary, add or change the email address. 7 Enter the subject and message of the email. 8 Click Send. The email is sent to your email softwares outbox with the report attached as a PDF file.

To view reports in Microsoft Excel

You must have Microsoft Excel installed on your computer. 1 Go to the Reports menu and choose Index to Reports. The Index to Reports window appears. 2 Select the required report. 3 If you want to filter the data and refine the appearance of the report, click Customize and specify the data you want. For more information, see Customizing reports on page 191. 4 Click Send To and choose Excel. Microsoft Excel starts and the selected report appears.
NOTE :

Viewing saved reports in Microsoft Excel You can also open in Excel reports that you have saved as tab-delimited files, comma-separated files or unformatted text files.

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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 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 241.
NOTE :

5 Click OK. The Report Batches window reappears with the name of the new batch in the scrolling list.

To print a report batch

1 Go to the Reports menu and choose Report Batches. The Report Batches window appears. 2 Select the relevant period from the Period list.

To create a report batch

Reports excluded from batches Some reports, such as the Reconciliation report, cant 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.
NOTE :

You can choose any of the months or quarters in the current fiscal year, or you can choose to print information for the entire year to date. Your selection in the Period list affects different types of reports in different ways. For example, if you choose January, activity reports will show job activity information from January 1 to January 31 and balance sheet reports will show information as of January 31. 3 Choose a report batch for printing and click Print. Each report in the batch is printed.

1 Go to the Reports menu and choose Report Batches. The Report Batches window appears.

To change a report batch

1 Go to the Reports menu and choose Report Batches. The Report Batches window appears. 2 Select the batch you want to change and click Edit. The New/Edit Batch window appears. 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. 3 Change the batch name, if necessary, and the reports contained in the batch. (Click a report to select or deselect it.) 4 Click OK to save your changes.

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To delete a report batch

1 Go to the Reports menu and choose Report Batches. The Report Batches window appears.

2 Select the batch you want to delete. 3 Go to the Edit menu and choose Delete Batch.

Customizing reports
You can customize a report, print it immediately and then revert the report to the original settings. Alternatively, if you want to retain a reports modifications, you can save it. When you save a customized report, it appears in the Custom view of the Index to Reports window. Follow the steps below to customize a report.
Step 1 2 3 4 5 6 Action Select the data to be printed Specify the required fields Select finishing options Change the report format Print the report Save the report. See below page 192 page 193 page 193 page 193 page 194

months May to July, you can use filters to select just that customer and just those months. You can filter the information shown in a report from either the Report Customization window or the Report Display window.

To filter reports in the Report Display window

1 Go to the Reports menu and choose Index to Reports. The Index to Reports window appears. 2 Locate and select the report you want to customize. 3 Click Display. The Report Display window appears. 4 Filter the report by making the required entries and selections in the toolbar that appears in the top section of the Report Display window. (Some reports do not have selection options.)

Step 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

5 Click Redisplay. The report is refreshed with the new filtering options applied. To make further filtering selections, see To filter reports in the Report Customization window below.

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To filter reports in the Report Customization window

1 Go to the Reports menu and choose Index to Reports. The Index to Reports window appears. 2 Locate and select the report you want to customize. 3 Click Customize. The Report Customization window appears. The customization options that appear depend on the report being customized. The example below shows the options available for the Closed Invoices report (which is one of the Sales reports).

Step 2: Specify the required fields

In the Report Fields tab of the Report Customization window, you can choose the fields to include on the report. For example, if you want to print the name of the salesperson in a sales report, you can add the salesperson field. 1 Click the Report Fields tab.

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. Fields in the Selected Fields column are set to be printed on the selected report. From the top down, the sequence of fields in this column is in the order the fields will appear in the report. The first field will appear as the left most column of the report, the second field will appear in the next column to the right, and so on. If you want to change the order in which the fields are printed, display the report and choose Screen Report from the View list. You can then drag the column headers to new positions. See To display and print reports on page 188.

The top section of the window enables you to limit the report to: a particular customer, vendor or employee records with particular values in custom lists.

The bottom section has three tabsAdvanced 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 Step 2: Specify the required fields below and Step 3: Select finishing options on page 193).

2 Select the fields you want to appear on the report. 4 Specify your search criteria in the Advanced Filters tab.

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Step 3: Select finishing options

The Finishing tab view of the Report Customization window provides a number of miscellaneous options, such as what default text to add to the report, whether you want the report added to the Reports menu, and so on. These options vary depending on which report you select.

1 Click Format in the Report Customization window. The Report Format window appears.

To select finishing options

1 Click the Finishing tab. 2 If you want to add the customized report to the Reports menu so that you can re-use these customized settings, select the Add to Reports Menu option. 3 If you are on a network and want to prevent data from being changed when the report is being generated, select the Prevent Data Changes During Report Generation option. This will prevent other users from recording transactions or making other changes in the company file while the report is being printed. 4 Make any other entries or selections that apply to the report.
C

B
A B Click the Report Line drop-down list, select the section of the report you want to customize and then change the formats as required. If you have formatted a report and want to change it back to its original format, click Default. The right side of the Report Format window shows a preview of each report section. To change the reports margins, specify the margin widths.

Step 4: Change the report format

You can modify the look of the report by choosing different font styles, sizes, colors, alignments and effects, and by changing the reports page margins.
D

2 Click OK when you have finished formatting the report.

Step 5: Print the report

1 Click Display to display the report. 2 To see how the report will look when printed, select Print Preview in the View field. 3 To print the report, click Print.

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Step 6: Save the report

If you plan to use a reports design and format again in the future, you can customize the report once, save the changes and then re-use the report whenever you want. Once saved, you can access your custom report from the Custom tab in the Index to Reports window. 1 With the report displayed, click Save As. The Save As window appears. 2 Enter a name and a brief description of the custom report and click OK. The Report Display window reappears. 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.

Changing the default fonts

Every report is assigned default fonts. You can change these default fonts if you prefer your reports to have a different appearance. 1 Go to the File menu and choose Default Fonts. The Default Font Selection window appears. 2 Click Reports. The Report Format - All Reports window appears. 3 Choose the font style and size for the printed characters on your reports. The sample box previews the appearance of your choices. 4 Click OK when you have finished.
NOTE : Changing the default fonts will not affect the fonts on any custom report.

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13 Forms
You can print all the standard business documents you send to customers, employees and vendors: quotations, order confirmations, invoices, packing slips, shipping labels, statements, purchase orders, checks, receipts, payment notifications, pay slips and labels. In your MYOB accounting 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 check run for vendor 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 customers 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 customize the appearance of your forms. Invoices and statements are those most commonly customized, but checks, bills and labels can also be customized. 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 the programs installation folder. This allows you to share forms among your company files and easily transfer them from one computer to another.

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Finding forms
Forms can be accessed through the relevant functions in each command center. For example, purchase order forms are accessible through the Print/Email Purchase Orders function in the Purchases command center. Purchases command center
Type of form Purchases (item, service and professional) Checks (payable) 1099s and 1096 Payment Notifications Command center function Print/Email Purchase Orders Print Checks Print 1099s and 1096 Print/Email Payment Notifications

To find forms
1 Go to the appropriate command center, for example, Sales for invoice forms. 2 Find the type of form you want and click the relevant command center functionsee the following tables. Banking command center

Payroll command center

Type of form Command center function Print Paychecks Prepare Payroll Tax Forms

Type of form Checks Receipts Payment Notifications

Command center function Print Checks Print Receipts Print/Email Payment Notifications

Paychecks W-2s and W-3

Card File command center

Type of form Mailing labels Command center function Print Mailing Labels Create Personalized Letters

Sales command center

Type of form Sales Packing slips Labels Statements Receipts Command center function Print/Email Invoices Print/Email Invoices Print/Email Invoices Print/Email Statements Print Receipts

Personalized letters

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Sending forms
You can send forms when you record a transaction, or later, as a batch. Sales transactionsselect either To be Emailed, To be Printed or To be Printed and Emailed from in the Invoice Delivery Status field in the Sales window.

Sending forms immediately

You can print, email or fax forms in the Sales and Purchases window. Payment notificationsselect either To be Emailed, To be Printed or To be Printed and Emailed from the Payment Notification Delivery Status field in the Spend Money, Settle Returns & Credits or Pay Bills windows. You can print or email payment notifications or checks in the Spend Money, Pay Bills or Settle Returns & Credits window.

Sending forms in a batch

You can send or email purchase transactions, sales transactions and payment notifications as a batch to your customers and vendors. You can do this from the following windows: Purchase transactionsselect either To be Emailed, To be Printed or To be Printed and Emailed from the Bill Delivery Status field in the Purchases window.

After you have completed a number of transactions, say, the days invoices, you can print or email a transaction batch. See To print forms and To email forms on page 198.

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To print forms
1 Select the command center function for the forms you want to print. For information about finding forms, see Finding forms on page 196. For example, if you want to print a sales invoice, go to the Sales command center and click Print/Email Invoices. The Review Sales Before Delivery window appears.

8 If you want to filter the transaction information or change the type of stationery the forms will be printed on, click Advanced Filters. For more information about using advanced filters, see Advanced filters on page 199. 9 Click Print.

To email forms
1 Select the command center function for the forms you want to email. For information about finding forms, see Finding forms on page 196. For example, if you want to email payment notifications to your vendors, go to the Purchases command center and click Print/Email Payment Notifications. The Review Payment Notifications Before Delivery window appears. 2 Click the To Be Emailed tab. 2 Click the To Be Printed tab. 3 Make a selection from the [...] Type field. 4 Click in the select column ( to print. ) next to each transaction you want

5 If you want to print all the transactions, click ( column.

) above the select

6 If you want to view the transaction details, click the zoom arrow ( ) next to the transaction. 7 Enter the number of copies you want to print in the Print [...] Copies fields.

3 Make a selection in the [...] Type field.

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4 If you want to filter the transaction information or change the type of stationery the forms will appear on, click Advanced Filters. A warning message appears.

Advanced filters
You can filter the amount of information, and even change the stationery you want to use, when you print or email a form. 1 Click Advanced Filters in the Review [...] Before Delivery window).
SELECT THE TRANSACTIONS

2 In the top section of the Advanced Filters window, select the forms you want to print or email. If you made changes to transactions in the To Be Emailed window, and you filter out these transactions in the Advanced Filters window, the changes you made will not be saved. a Click OK. The Advanced Filters window appears. b Make your selections in the window and click OK. For information about using advanced filters, see Advanced filters below. 5 Click in the select column ( to email. ) next to each transaction you want We are using the example of a service type sale for all customers with outstanding payments.

6 If you want to email all the transactions, click ( select column.

) above the 3 If you want to filter the forms, enter a date range or reference number range, (for example, invoice, check or purchase order numbers) in the middle section of the window.
SELECT THE STATIONERY

7 If you want to view the transaction details, click the zoom arrow ( ) next to the transaction. 8 If you want to change a recipients email address, type or select the address in the Email Address field. 9 If you want to change the default email title and message: a Click Email Defaults. The Email Defaults window appears. b Make any changes you want to make and click OK. 10 Click Send Email to email the forms you have selected.

4 In the Selected Form for [...] field, select the stationery you want to use when you print or email your forms. Several stationery choices are available, depending on the type of transaction you are printing or emailing.

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Preprinted stationery

Select the 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 vendors. Note that this type of stationery is not suitable for emailing forms.

Customized stationery Select any customized stationery forms if you want to print a form you have already customized. See Customizing forms below for more information about customizing forms.

5 When you have finished your selections in the Advanced Filters window, click OK.

Plain paper stationery Select plain-paper stationery if you want to print on blank paper. Lines, columns and headings are automatically printed with the forms information.

Customizing forms
You can change the look and content of printed checks, payment notifications, invoices, packing slips, labels, statements, bills and mailing labels. You can also change the size of a form, add text labels, draw lines and boxes, paste graphics on the form, move fields, change the size of fields, and more. Then you can save your customized stationery so that you can select it when you print or email the form. If more than one user is accessing a company file, you should: 1 Create custom forms in the Forms folder on the host computer on which the company file is stored. 2 Copy any custom forms from the host computer to the Forms folder on each workstation that accesses the company file.
CAUTION : Back up forms stationery Back up the Forms folder before customizing any forms so you can always revert to the originals.

Complete the following steps to create, save and print your customized forms:
Step 1 2 3 4 5 6 Action Display the form Set up form properties Adding and editing elements Preview the customized form Save the customized form Print the customized form See page 201 page 201 page 202 page 202 page 202 page 202

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Step 1: Display the form

1 Go to the Setup menu, choose Customize Forms and choose the type of form you want to customize. The Customize Forms window appears. 2 In the Form to Customize field, select the form you want to customize and click Customize. The Customize [...] window appears.
A B C D

Regular layout is assigned to checks recorded in the Spend Money window and the Payable layout is assigned to checks recorded in the Pay Bills window.

Step 2: Set up form properties

1 Click the form properties ( Customize [...] window. ) button in the tool palette of the

The Forms Properties window displays two tabs: the Layout tab and the Options tab. 2 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. If you are printing four checks per 11x17-inch page, enter the width and length of a single check and not the width and length of the 11x17-inch page.
A B C Tool palette Preview Layout list The tool palette provides you with customization tools. Click the Preview button to view your form on screen. Select the required layout for a check stub. (Check forms only.) Data fields contain system-generated information.

3 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 forms background. c If you have chosen a background image, specify where the image is to be displayed on the form. 4 Click OK.

D Data fields

Checks have two parts A check form has two parts: the check itself and the stub. You customize the check and the stub separately. In the check Customize window, select the appropriate stub layout in the Layout field. For example, the
NOTE :

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Step 3: Adding and editing elements

Add, remove or edit elementssuch as text, graphics and linesaccording to your needs. For more information, see Adding and editing graphic elements on page 204.

Step 6: Print the customized form

Printing a customized form is the same as printing an unchanged form. However, before you can print using your customized 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 198.

Step 4: Preview the customized form

At any time during the customization process, you can display a screen preview of your work. 1 Click the Preview button in the tool palette of the Customize [...] window.

Changing the default fonts

Every form in your MYOB accounting software is assigned default fonts. You can change these default fonts if you prefer your forms to have a different appearance. 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.

The form is displayed in the Print Preview window. 2 If you want to view the form in more detail, increase the default value (75%) in the Zoom field and press TAB. 3 If you want to check your current printer and page settings, click Print Setup. 4 When you have finished previewing the form, click Close in the Print Preview window.

Step 5: Save the customized form

When you are satisfied with the changes you have made to the form, you should save the customized form. If you have modified a custom form you created previously, click Save Form. If you want to create a new custom form that contains the changes you have made, click Save Form As. The Save As window appears. Enter a name and a brief description for the new layout and click OK.

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Adding and editing elements

Adding and editing data and label elements
You can add elements to, and change elements on, a form using the tool palette shown below:
Add data

Add graphic

Draw line

Send to back

Font style

Print preview

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 positionsee Drag and drop on page 205. 4 If you want to change the properties of a data field, double-click it. The Field Properties window appears.

Add text
NOTE :

Add rectangle Undo

Bring to front

Form properties

Layout selection

The Layout list only appears for check

forms.

The Field Properties window has two tabs: the Layout tab where you specify the text, format, background color, location and size of the field, and the Borders tab where you specify the layout, color and width of the fields borders. 5 Change the properties as required and click OK.

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 place on the form where the text field is to be located. 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 color of the label, and the Borders tab where you specify the layout, color and width of the labels borders. 3 Click OK to close the Field Properties window. The new label appears in the Customize window. If the name is longer than the size of the label, you may need to resize itsee Resize on page 206.

The column on the right indicates the field type (Data, Column) and where it appears on a form. For example, the Total field only appears on the last page (as shown). 2 Click the fields you require.

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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.

2 Double-click the graphic element. The Field Properties window appears.

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 your choices in the Font, Font Style, Size, Justify, and Effects fields in this window. 4 If you want to change the font color: a Click Font Color. The Font Color window appears. b Select the new color and click OK. The Text Format window reappears. 5 Click OK. 3 Click Load Picture. The Open window appears. 4 Select the graphic file and click Open. The Field Properties window displays the graphic in the Preview Picture area. 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 Customize window.

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. 3 Click the add graphic button ( ) in the Customize window. Then click the location on the form where you want the graphic to appear. A graphic element appears. 4 Double-click the graphic element. The Field Properties window appears. 5 Click Paste Picture. The graphic appears in the Preview Picture area.

Adding and editing graphic elements

You can also add graphic elements to a form: rectangles to visually group elements, lines to separate elements, icons, logos, photos, location maps and other graphic elements.

To add a graphic file to a form

1 Click the add graphic button ( ) in the Customize window and then click the place on the form where it is to be located. A new graphic element appears.

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6 Specify the field location and element size for the graphic. 7 Click OK. The graphic appears in the Customize window.

Editing all elements with common commands

The following editing procedures are applicable to any element:
To Copy and paste Do this 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 Customize window. 3 Delete Go to the Edit menu and choose Paste. A copy of the element appears in the window.

To draw a line on a form

You can draw a vertical or horizontal line on a form. 1 Click the draw line button ( ) and then click and hold the mouse at the location on the form where you want the line to begin. 2 Drag to where you want the line to end and then release the mouse button.

To draw a rectangle on a form

Undo last change

Select the element and press BACKSPACE or DELETE on your keyboard. To undo the last change you made to the current form, either click the undo button ( ) or press CTRL + Z. 1 Click the element and hold down the mouse button. Notice that the cursor changes to a hand pointer. Drag the element to the desired location. In the example below, the [Invoice #] data field is being dragged below its original position.

1 Click the rectangle button (

).
Drag and drop

2 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.

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.

Change coordinates 1 2

Double-click the element you want to move. The Field Properties window appears. 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. Click OK.

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To Resize

Do this 1 2 Click the element once to select it. Small squares, called handles, appear on the element. Drag a handle to change the size of the element. Select the element you want to send behind another element. Click the send to back button ( ).

Send to back

1 2

Bring to front

1 2

Select the element you want to bring in front of another element. Click the bring to front button ( ).

There are also procedures specific to particular kinds of elementssee Adding and editing data and label elements on page 203 and Adding and editing graphic elements on page 204.

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14 Financial control
You can use your MYOB accounting software to control your finances by setting budgets, auditing your records and by reviewing and analyzing your financial activities.

Tracking financial information

You can track financial information at three levels: Accounts levelview the profitability and financial details of your business as a whole. Categories levelview the profitability and financial details of your individual business divisions, departments, properties, offices, product sales and services. Jobs levelview the profitability and financial details of the individual jobs or tasks carried out for customers and clients. The following example shows how accounts, categories and jobs may be interrelated: A car dealer has two lines of businesscar 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. You could, for example, set up your MYOB accounting software in the following way.

Accounts
The accounts list could be set up to provide a basic overview of the businesss overall performance. For example, the following income accounts could be used: 4-0000 Income [Header] 4-1000 Car Sales [Header] 4-1010 New Car Sales [Detail] 4-1020 Pre-owned Car Sales [Detail] 4-2000 Service and Parts Income [Header] 4-2010 Service Income [Detail] 4-2020 Parts Income [Detail] 4-2030 Accessories Income [Detail] When entering a transaction, the appropriate account is allocated to each individual amount. A standard profit and loss statement can then be printed to show income and expenses generated by the business. However, at the account level, it is difficult to see how particular models of cars are selling. Categories can manage this.

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Setting up accounts
You can set up your accounts using the Easy Setup Assistant (see Setting up accounts on page 17) or in the Accounts command center (see To add an account to your accounts list on page 152).

NOTE :

You cannot allocate categories to some transactions

Categories
For the sales department, you can set up categories for keeping track of different car sales: say, model A, model B and model C. For the service department, you could keep track of the different services you offer. When entering a transaction, you would assign the appropriate category to it. A profit and loss statement can then be prepared for each model or service. This is an easy way to compare the categories profitability and performance. But at this level, it is difficult to see how profitable particular jobs or tasks have been. The Jobs function can provide this facility.

You cannot allocate a category to: Pay Bills, Receive Payments, Prepare Bank Deposit, Prepare Electronic Payments, Settle Returns and Credits/Debits and Pay/Receive Refunds. When entering these transactions, the categories assigned to the original transactions will be used when the new transaction is recorded. For example, the categories assigned to purchases showing in the Pay Bills window will also be assigned to the bill payment.

To enable allocation of categories

1 Go to the Setup menu and choose Preferences. 2 Click the System tab. 3 Select the Turn on Category Tracking option. If you want to make the selection of a category mandatory for all transactions, choose Required from the adjacent list.

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.

Setting up categories
Categories can be allocated to the following transaction types: spend money receive money transfer money general journal entries sales purchases build items inventory transfers inventory adjustments paychecks historical sales and purchases.

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5 In the Description field, type a description of the category or notes relating to the category.

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. Specific job-tracking tasks may include: organizing 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 analyzing profit and loss of a job. There are two types of jobs, header and detail. Header jobs total associated detail jobs (including detail subjobs). You cannot assign transactions to header jobs. Detail jobs are assigned to transactions to track income, costs and expenses. 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.

6 Click OK.

Jobs
Jobs can be set up to track income and expenses related to service 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.

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.

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5 Click OK. The header job appears in the Jobs List window.

8 Click OK. The Jobs List window reappears.

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. 4 In the Job Number field, type a code for the job and press Tab. 5 Enter additional information about the job, such as a job name, description and start date. 6 If you are creating a sub-job, select a header job in the Sub-job Of list. Note, you can only assign detail jobs to header jobs, not to other detail jobs. 9 Review the hierarchy of jobs you have created. If you need to change the details a job, select the job and click Edit.

To enter job opening balances

If you started using your MYOB accounting 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 number of the job for which you want to enter an opening balance and press TAB. 3 In the Opening Balances column, type the opening balance for the job. 4 Repeat from step 2 for each job with an opening balance. 5 Click OK when you have finished.

7 If you want to link the job to a customer, type or select a customer in the Linked Customer field. This is useful if you intend to seek reimbursement for goods and services purchased on the customers behalf. You can view details of all jobs linked to a customer in the Jobs tab of the customers card.

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To enter budget amounts for jobs

You can enter budget amounts for any detail job. The budget information you enter for each job is used to help you assess your progress on a particular job and to determine the jobs effect on the state of your business. The amounts you enter will be assigned to accounts in your accounts list for comparison purposes. Once you begin recording transactions for the job, you will be able to print the Jobs [Budget Analysis] report to see a comparison of the actual amounts and the amounts you have budgeted for the job.

1 Go to the Lists menu and choose Jobs. The Jobs List window appears. 2 Highlight the detail job for which you want to enter budgets. 3 Click Budgets. The Job Budgets by Account window appears, with the job you selected in the Job Number field. All your companys income, cost of sales, expense, other income and other expense accounts appear in the scrolling list. 4 In the Budgets column, type the amounts youve budgeted for specific accounts for this job.

Budgets
When you prepare a budget, you are predicting the financial state of your business. For example, you could prepare a budget that predicts how much you intend to spend and earn over the next fiscal year. Having a budget means that, as the year progresses, you can track projected data against actual data and take corrective action if things are not going according to plan. You can also use budgets to plan for future goals. For example, you may want to undertake a new business venture in the coming year. By creating a budget, you can work out the amount of money you will need for the venture, where this money will come from, and the impact that the venture will have on other aspects of your business. In MYOB accounting 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
What do I need to budget?

accounts for specific assets and liabilities. To decide on the accounts that will require a budget, consider what changes you anticipate in your business and the financial impacts these changes will have. For example, you may expect to hire new employees (which will affect, among others, your Wages & Salaries accounts) or, you may be considering taking a new loan (which will affect your Bank Loans account). MYOB accounting software lets you create a budget for the current fiscal year and the next fiscal year.
What period can I budget for? 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 accounts receivable, it may indicate that your customers are taking a longer time than expected to pay your account.

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You can compare your budgeted amount with actual account balances by viewing the Budget Analysis reports for Balance Sheet and Profit and Loss accounts. For information on displaying, customizing and printing reports, see Chapter 12, Printing and customizing reports, starting on page 187.

The window lists the Profit and Loss accounts by default. 3 From the Fiscal Year list, choose whether you want to enter a budget for this fiscal year or the next one. 4 From the Account Type list, choose the type of account you want to enter a budget forProfit and Loss or Balance Sheet. 5 For each month, click in the appropriate row and enter the amount. If you want to enter a negative amount, type a hyphen before the figure (for example, -$250). As you enter data, the FY Total column will display the total budget for each account.
A B

Entering budget amounts

You can use the Prepare Budgets window to enter budget amounts for each month of the current or next fiscal year. If you want to quickly enter budget amounts for a group of months, you can use the Budget Shortcuts window. As the year progresses, you can choose to either adjust budget figures or leave them unchanged.
Entering positive and negative amounts By default, the amount you enter will be assumed to be a positive amount. You can enter negative budget amounts by typing a hyphen before the amount (for example, -$250). When you enter a negative amount, you are indicating that the balance of the account is going to reduce. Using existing data If you have already prepared a budget in a

spreadsheet or in another software program, you can import that information into your MYOB accounting software. For more information on how to import account budgets, see Importing data on page 247. You can also use the previous fiscal years data as a basis for your budget.

A B C

The Account Name and FY Total columns display the list of accounts and their current budget totals for the fiscal year. You can enter the budget amount for a specific account and month. You can use the horizontal scroll bar to scroll through the months. Click Shortcuts to open the Budget Shortcuts window from where you can quickly enter budget amounts for the selected account. For more details on this feature, see Budget Shortcuts window on page 213. Click Copy Amount to Following Months to copy the selected amount to the months that follow. Click Copy Previous Years Actual Data to insert the previous years account balances for the selected account and month.

To enter the budget for an account

1 Go to the Accounts command center and click Accounts List. The Accounts List window appears. 2 Click Budgets. The Prepare Budgets window appears.
D E

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6 Click Close to save the budget data and exit the Prepare Budgets window.

Select Each Month

If you want to Enter the same amount for every month of the year or a set increase or decrease every month (starting from a base amount). Enter a total amount for a group of consecutive months. Enter the total amount for each quarter. Enter the total amount for each half of the fiscal year. Enter the total amount for the entire fiscal year, (where yyyy is your financial year).

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.
Period starting from selected Month Each Quarter Each half of the Fiscal Year Fiscal Year yyyy

To enter a budget using the Budget Shortcuts window

1 Go to the Accounts command center and click Accounts List. The Accounts List window appears. 2 Click Budgets. The Prepare Budgets window appears. 3 Select the account you want to enter the budget for. 4 Click Shortcuts. The Budget Shortcuts window appears. 5 From the Budget for list, select a time period:

6 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 vary every month onwards. 7 When you have finished entering the information, click OK. The Prepare Budgets window appears with the new amounts entered in the grid. 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.

Select a time period

The fields in the window change according to the period you select.

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Auditing your records

A range of features are 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, ID # or date change of amount or account on any line change of item selection change of job selection. deselection of tax on any line of a sales or purchase transaction change of tax code or amount for a sales or purchase transaction adding transactions with a tax code other than the default code for the selected card or account (invoices only, not orders or quotes) adding transactions with a changed taxable amount change of the linked account selection in any of the Tax Code Information windows. change of the current account number change of the accounts opening balance addition of a new account deletion of an account. change in the setup of a payroll category change of an employees pay basis, pay rate or pay frequency change of an employees default wages expense account change of an employees Carry Over accruals change of an employees pay history change of an employees tax allowance or extra tax withheld, residence code and work code change to the Type of Wages selection change to the Type of Accrual field change to the Type of Deduction or Deduction Limit fields change to the Type of Expense or Expense Limit fields.

Company Data Auditor

The Company Data Auditor allows you to check the accuracy of the records in your company file. You can use this tool to perform maintenance tasks and reconcile bank and credit card accounts. The Company Data Auditor also checks your transactions for exceptions such as invoices that do not reconcile with your receivables account, future-dated transactions, and audit trail changes. For more information on how to use the Company Data Auditor, see Run the Company Data Auditor on page 218.
Tax

Audit trail tracking system

You can track specific transactional, tax, account, payroll and system changes made to your company file using an audit trail tracking system. You can then print an Audit Trail report which lists all the changes recorded in a specified date range. To track changes, go to the Setup menu, choose Preferences and then set the Use Audit Trail Tracking preference in the Security tab. The transactional, tax, accounts, payroll and system changes that are recorded are outlined in the following table.

Account

Payroll

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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 Analyze Balance Sheet Description The Analyze Balance Sheet window provides details about your asset, liability and equity accounts in both graphical and ledger views. The Analyze Profit & Loss window provides detailed information about your Profit & Loss accounts in both graphical and ledger views. The Analyze Jobs window allows you to view information about your progress on a particular job, broken down by account. Financial reports help you review your financial information. See below

3 Click OK. The information you selected appears in the Analyze Balance Sheet window.

To analyze your profit or loss

1 From any command center, click the Analysis down arrow and select Profit and Loss from the menu. The Analyze Profit & Loss window appears. 2 Click Filters and choose the time periods and other criteria you want to view. 3 Click OK. The information you selected appears in the Analyze Profit & Loss window.

Analyze Profit & Loss Analyze Jobs

below

below

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To analyze your jobs

1 From any command center, click the Analysis down arrow and select Jobs from the menu. The Analyze Jobs window appears. 2 In the Job field, select the job you want to analyze and press TAB.

To analyze your balance sheet

1 Go to the Accounts command center and click Analysis. The Analyze Balance Sheet window appears. 2 Click Filters and choose the time periods and other criteria you want to view.

3 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.

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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.
Report Audit Trail Description Reviews changes made to recorded transactions, tax codes, account details and system settings. Note that before you can track and report changes, you need to activate the audit trail tracking preference. For more information, see Audit trail tracking system on page 214. Profit & Loss Statement Balance Sheet Shows your profit and loss figures. Reviews your financial position as of the end of a period.

Profit & Loss [Budget Analysis]

Lists account balances for a selected period, along with the budgeted amounts. If youve determined that changes need to be made to the budgets for the coming months, you can adjust your budget. 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.

Statement of Cash Flow

For information on displaying, customizing and printing reports, see Chapter 12, Printing and customizing reports, starting on page 187.

Summary Trial Balance Identifies incorrectly entered amounts. When reviewing this report, check for: Balance Sheet [Budget Analysis] 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.

Lists account balances as of the end of a selected period, along with the budgeted amounts. If youve determined that changes need to be made to the budgets for the coming months, you can adjust your budget.

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15 End-of-period procedures
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. You should reconcile your system with any source documents and resources available to you. For example, your bank account can be reconciled with the bank statement, vendors balances can be checked against statements, and customers balances verified. If possible, your inventory should be counted, valued and, where necessary, adjusted in your company file. Typical end-of-month procedures include reviewing your trial balance, reviewing your budgets and cash flow, paying payroll taxes and purging information that is no longer needed. End-of-year procedures are carried out at the end of your fiscal year and include any adjustments you need to make to your company file so that it agrees with your accountants final records. Follow the procedures in this chapter to reconcile the system and close the year. 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. If you use the payroll feature, there are additional procedures that you need to complete at the end of the year. This involves printing W-2 forms and 1099 statements, submitting state and federal payroll tax forms, reviewing payroll reports and closing the payroll year.

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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.
Step 1 2 3 4 5 6 7 Action Run the Company Data Auditor Reconcile your bank accounts Review reports Send customer statements Record depreciation Pay payroll taxes Lock the period See below page 221 page 223 page 224 page 225 page 226 page 226

display bank and credit card account details, including the current balance and the date when they were last reconciled reconcile your bank and credit card accounts check your transactions for exceptions and audit trail changes. 1 Go to the Accounts command center and click Company Data Auditor. The Company File Overview window appears.

Step 1: Run the Company Data Auditor

The Company Data Auditor is a series of windows that guide you through the process of checking and ensuring the accuracy of the records in your MYOB company file. You can use the auditor to: display basic information about the company file, such as the file name, release number, location, size, lock periods, last backup date, etc. perform maintenance tasks, such as backing up your company file and setting lock periods

This window shows you the following: company file name MYOB software release number location of the company file size of the company file date on which the company file was last backed up date on which the company file was last verified current fiscal year end date latest month of the locked periods, if one has been specified date of the payroll tax tables.

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If necessary, you can perform the following maintenance tasks from this window:
Task
Back up your company file Check your company file for errors Set the locked periods for your company file Load payroll tax tables

3 If you want to reconcile an account, select the account and click Reconcile Accounts. Continue with step 3 in To reconcile your bank account on page 221. 4 Click Next. The Transaction Review window appears.

Action
Click Backup and complete the backup procedure. Click Verify and complete the verification procedure. Click Lock Periods and specify the last month of those that are to be locked (that is, months for which data cannot be entered). Click Load Tax Tables and then complete the procedure for loading tax tables.

See:
page 237 page 239

page 226

page 27

2 When you have completed the required maintenance tasks, click Next. The Account Reconciliation Review window appears.

5 Enter the start date and end date of the period you want to review and click Run Review.
Reconcile invoices with the linked receivables account
The total of all customer balances is compared to the current balance of the linked accounts receivable account. If there is an out-of-balance amount, click Display to view the Receivables Reconciliation Exceptions report and review, customize or print the details of the report.

Reconcile purchases with the linked payables account

The total of all vendor balances is compared to the current balance of the linked accounts payable account. If there is an out-of-balance amount, click Display to view the Payables Reconciliation Exceptions report and review, customize or print the details of the report.

This window shows you: your bank and credit card accounts the balance of each account the date on which each account was last reconciled.

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Compare item values with the linked inventory account Scan for futuredated transactions

The total value of inventory on hand is compared to the current balance of the linked inventory account. If there is an out-of-balance amount, click Display to view the Inventory Value Exceptions report and review, customize or print the details of the report. The company file is checked for any transactions dated after the date of the current session (that is, the current date). If there are transactions dated after the current session, click Display to view the Future Dated Transactions report and review, customize or print the details of the report.

Check for job exceptions [Cash Transactions]

If you have selected the Warn if Jobs Are Not Assigned to All Transactions option in the Preferences window (System tab), the company file is checked for cash transactions (within the date range specified) that have no job number. If any transactions are detected with no job number, click Display to view the Job Exceptions [Cash Transactions] report and review, customize or print the details of the report.

Check for job exceptions [Invoice Transactions]

Scan for prepaid transactions

The company file is checked for any prepaid transactions. These transactions include all customer and vendor payments (excluding deposit payments) that have a payment date prior to the date of the invoice or purchase. If there are payments made prior to the invoice or purchase date, click Display to view the Prepayment Transactions report and review, customize or print the details of the report.

If you have selected the Warn if Jobs Are Not Assigned to All Transactions option in the Preferences window (System tab), the company file is checked for sales and purchase transactions (within the date range specified) that have no job number. If any transactions are detected with no job number, click Display to view the Job Exceptions [Invoice Transactions] report and review, customize or print the details of the report.

Reconcile payroll liability payments

Scan for deposits paid

The company file is checked for any deposits paid (within the date range specified) on sales orders or purchase orders. If any orders have a payment flagged as a deposit transaction, click Display to view the Deposit Transactions report and review, customize or print the details of the report.

If you use integrated payroll, the total of payroll liabilities transactions that are unpaid is checked against the balance of the linked accounts payable account Payroll Category. If there is an out-of-balance amount because a payroll liabilities transaction has a payroll paid date equal to or before the current session date, click Display to view the Payroll Liabilities Reconciliation Exceptions report and review, customize or print the details of the report.

Review audit trail changes

If you have selected the Use Audit Trail Tracking option in the Preferences window (Security tab), the company file is checked for any transactional, tax, accounts and system changes. If any changes occurred within the date range specified, click Display to view the Audit Trail report and review, customize or print the details of the report.

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6 When you have finished viewing and, if necessary, printing the Transaction Review reports, click Next. The Tax Exception Review window appears.

Step 2: Reconcile your bank accounts

To ensure the accuracy of your business records, you should keep your record of each bank account balance matched up with your banks records. If you are reconciling your bank account for the first time since you started using your MYOB accounting software, see Performing an initial bank reconciliation on page 32.

To reconcile your bank account

1 Go to the Banking command center and click Reconcile Accounts. The Reconcile Accounts window appears. 2 In the Account field, enter the account you want to reconcile. 7 Enter the start date and end date of the period you want to review and click Run Review.
Check for tax amount variances [Sales]
The company file is checked for variances between the tax amount posted and the tax amount calculated for the tax codes assigned to sales transactions. If a variance is found, click Display to view the Tax Amount Variation report and review, customize or print the details of the report. The company file is checked for variances between the tax amount posted and the tax amount calculated for the tax codes assigned to purchase transactions. If a variance is found, click Display to view the Tax Amount Variation report and review, customize or print the details of the report.

3 In the New Statement Balance field, type or select 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. Unreconciled transactions dated on or before that date appear.

Check for tax amount variances [Purchases]

8 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.

If you want to import bank statement data electronically, click Get Statement. For more information, see Importing statements on page 58.

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5 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. 6 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. 7 Click Reconcile. A window appears indicating whether your account is reconciled or out of balance. If your account is reconciled, you have the option of printing the Reconciliation report by clicking Print (recommended). Once the report is printed, the Reconcile Accounts window reappears. Click Reconcile again to complete the reconciliation process. If you dont want to print the report, click Reconcile. The transactions you marked are considered cleared and wont appear in the Reconcile Accounts window the next time you display it. If your account is out of balance, the window will indicate the amount by which your account is out of balance, and will provide you with some reasons why the account might be out of balance. To correct the unreconciled amount, follow the procedure below.

To correct an unreconciled amount

1 Check the following: Did you enter the correct figure in the New Statement Balance field? You need to enter the closing balance from your bank statement, not the opening balance. Did you enter the correct date (that of the closing balance from your bank statement) in the Bank Statement Date field? An incorrect date may prevent some transactions from appearing in the list. Did you select all 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 didnt appear on your bank statement? If so, 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. If your account is still out of balance, then you may have deleted a transaction that has been reconciled previously.
Identifying deleted transactions using the Audit Trail report If you have set the Use Audit Trail Tracking preference, you can use the Audit Trail report to search for deleted transactions. Note that for a transaction to appear in this report, you need to have set this preference before deleting the transaction.
NOTE :

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3 If you have deleted a previously reconciled transaction:

NOTE : Undoing a previous reconciliation If you have deleted a transaction from a previous reconciliation, and you want to reenter and re-reconcile the transaction in that reconciliation period, you can undo a previous reconciliation. For more information see Undoing an account reconciliation below.

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.

a Re-enter the transaction in your company file. b Select it for reconciliation. 4 Repeat the reconciliation procedure.

Undoing an account reconciliation

If you have reconciled a transaction in error or deleted a previously reconciled transaction, you can undo the previous reconciliation. When you undo a reconciliation, all transactions for that period return to an unreconciled status. If the error was made in a reconciliation earlier than your last reconciliation, you can undo several reconciliation periods in succession in your current fiscal year. 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 If you undo a reconciliation that contains purged transactions, you will not be able to re-reconcile those transactions. We strongly recommend that you do not undo a reconciliation for a purged period.
CAUTION :

4 Click Undo Reconciliation. A confirmation window appears. 5 Click OK. The Reconcile Accounts window reappears.

Step 3: Review reports

There are several reports that we recommend you review at the end of each month. You can use these reports to identify and correct any discrepancies in your records, as well as spot any trends in your business.
Report Description Lists all your outstanding receivables. Lists all your outstanding payables.

To undo an account reconciliation

1 Go to the Banking command center and click Reconcile Accounts. The Reconcile Accounts window appears.
Receivables Reconciliation Payables Reconciliation

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Analyze Sales [Customer] Analyze Purchases [Vendor] Items List [Summary] Audit Trail

Lists your companys sales activity and trends on a month-by-month basis. Lists your companys monthly purchases. Shows whats on hand and what needs to be ordered. Reviews changes made to recorded transactions, tax codes, account details and system settings. Note that before you can track and report changes, you need to activate the audit trail tracking preference. For more information, see Audit trail tracking system on page 214.

Profit & Loss [Budget Analysis]

Lists account balances for a selected period, along with the budgeted amounts for them. If youve determined that changes need to be made to the amounts youve budgeted for the coming months, you can adjust your budget. 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.

Statement of Cash Flow

Profit & Loss Statement Balance Sheet

Shows your profit and loss figures. Reviews your financial position as of the end of a period.

NOTE : Create a report batch You may find it useful to create a batch for your month-end reports and print them all in one go. For more information, see Printing report batches on page 190.

Step 4: Send customer statements

Most businesses send statements to customers who have outstanding balances at the end of a month. You can either print out and send these statements through the post or send them via email.

Summary Trial Balance Identifies incorrectly entered amounts. When reviewing this report, check for: Balance Sheet [Budget Analysis] 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.

To print a customer statement

1 Go to the Sales command center and click Print/Email Statements. The Review Statements Before Delivery window appears. 2 Click the To Be Printed tab. 3 In the Statement Type field, select the type of statement you want to print. Invoice statements list all invoices aged as of a specified date. Activity statements list all sales invoices, payments, and orders with a customer deposit within a specified date range. Activity statements include a running account balance.

Lists account balances as of the end of a selected period, along with the budgeted amounts for them. If youve determined that changes need to be made to the amounts youve budgeted for the coming months, you can adjust your budget.

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4 Specify the statement period. If you selected Invoice as the statement type, enter an aging date to display invoices outstanding as of that date. If you selected Activity as the statement type, enter the statement date range in the From and to fields. 5 Type the number of statements you want to print per customer in the Print field. 6 If you want to customize or filter the statement, or to change the type of form it will be printed on, click Advanced Filters. For more information, see Advanced filters on page 199. 7 Click in the select column ( ) next to the customers you are printing statements for. 8 Click Print.

If you selected Activity as the statement type, enter the statement date range in the From and to fields. 5 Click in the select column ( ) next to the customers to whom you want to email statements. 6 If you want to change a customers email address, highlight the customers name and select another address from the Email Address list ( ). Alternatively, type a different address in the Email Address field. 7 Type the subject title and message of the email or accept the default subject and message. If you want to change the default message, click Email Defaults and make the changes as appropriate. 8 Click Advanced Filters to filter and customize the information to be displayed in the customer statement. You might use advanced filters, for example, if you want to use a different message or subject for different customers. For more information, see Advanced filters on page 199. 9 Click Send Email.

To email a customer statement

1 Go to the Sales command center and click Print/Email Statements. The Review Statements Before Delivery window appears. 2 Click the To Be Emailed tab. 3 In the Statement Type field, select the type of statement you want to email. Invoice statements list all invoices aged as of a specified date. Activity statements list all sales invoices, payments, and orders with a customer deposit for a specified date range. Activity statements include a running account balance. 4 Specify the statement period. If you selected Invoice as the statement type, enter an aging date to display invoices outstanding as of that date.

Step 5: Record depreciation

NOTE : If you depreciate your assets at the end of the fiscal year, make this step a part of your end-of-year routine. Consult your tax adviser or accountant for information on when to depreciate your assets.

Your companys vehicles and equipment lose value each year. Part of the cost of vehicles and equipment can be allocated as an expense to your company each year that you benefit from their use. The allocation of the cost of a piece of equipment over its useful life is called depreciation.

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There are several methods of recording depreciation. Consult your accountant to see which method is best for you. Your MYOB accounting software doesnt calculate depreciation automatically, but you can record your depreciation figures with a journal entry.

accumulated depreciation asset accounts will always have a negative balance to show a reduction in the value of the depreciable assets.

Step 6: Pay payroll taxes

Consult your accountant or the appropriate government agencies if youre unsure about how or when to pay payroll taxes.
MYOB PAYROLL TAX FORMS

To record depreciation
Before you can record depreciation for an asset, you need to create an asset account and an expense account for each type of asset you depreciate. You only need to create these accounts once. 1 Create a new asset account for each type of asset you depreciate. Add the words Accum Dep (for Accumulated Depreciation) at the end of each new account name. Give the new account a number that allows it to come directly after its corresponding asset account in the accounts list. For more information on creating a new account, see To add an account to your accounts list on page 152. In the following example, we have a header account, Office Equipment numbered 1-3100, and a detail account Office Equipment Original Cost numbered 1-3110. We have created a new asset account called Office Equipment Accum Dep numbered 1-3120. Notice that the header account shows the current book value of the office equipment.

You can use the MYOB Payroll Tax Forms service to generate and electronically file your state and federal payroll forms using information extracted from MYOB accounting software. These include withholding tax forms, unemployment wage forms, and new employee forms. Before you can file your payroll forms electronically, you need to register for the MYOB Payroll Tax Forms service. For more information, see Setting up MYOB Payroll Tax Forms on page 38. If you have registered for the service, see the online help for more information on how to electronically file your payroll tax forms. If you havent registered, you can view a demonstration of the forms available. However, they cannot be electronically filed. If you decide not to register for MYOB Payroll Tax Forms, you can use the Pay Liabilities feature to select and clear withheld amounts to the appropriate government agencies. For more information, see Payroll liabilities on page 118.

2 Create a new expense account. You may want to call it Depreciation. 3 Once youve determined your depreciation amounts, make journal entries to credit the new accumulated depreciation asset accounts and debit the new depreciation expense account. The

Step 7: Lock periods

After you have completed your month-end tasks, you should lock that month using the Lock Periods feature. This will prevent you

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from inadvertently making an entry in a month in which you dont 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 month from the list. This selection places a temporary lock on the month you select and all months before it. If you need to make an entry in a locked month at a later timefor example, you locked May, and now want to make an entry in Aprilyou can unlock that month in the Preferences window.

Year-end procedures
This section describes the tasks you need to perform at the end of your fiscal year and at the end of the payroll year (if you use the payroll feature) to prepare your company file for the coming year.

End of payroll year

You must close the payroll year in the last month of your payroll year or soon after. Otherwise, you will not be able to enter paychecks for the next payroll year. See Starting a new payroll year on page 230.

End of fiscal year

MYOB accounting software doesnt require you to close your fiscal year at any particular time. You can continue to use your company file after the last month of your current fiscal year.

Starting a new fiscal year

Complete the tasks listed below to close your fiscal year and start a new fiscal year.
Step 1 2 3 Action Complete month-end tasks Perform an inventory count See page 218 page 228 Step 4 5 6 7 Action Enter end-of-year adjustments Back up your company file Start a new fiscal year Optimize and verify your company file See page 228 page 229 page 231 page 232

Provide information to your accountant page 228

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Step 1: Complete month-end tasks

Make sure you complete each of the month-end tasks. See Month-end procedures on page 218.

To record adjustments manually

If your company file is set to 13 accounting periods in the fiscal year, assign your adjustments to the 13th period by entering an asterisk (*) before the date, for example, *9/30/2005. 1 Go to the Accounts command center and click Record Journal Entry. The Record Journal Entry window appears. The general journal number and transaction date appear by default. You can change these if necessary. 2 Enter a comment in the Memo field to describe the transaction, for example, DepreciationMotor Vehicles. 3 Enter details of the adjustment in the scrolling list section of the window. Each row of information entered in the scrolling list is called a line item. You can enter as many line items for a journal entry as you want, but you must have at least two line itemsa debit entry and a credit entry to offset it. The entry cannot be recorded until the debit and credit totals displayed beneath the scrolling list are equal.

Step 2: Perform an inventory count

If you track stock quantities and values, you should perform an inventory count when all transactions affecting the inventory for the fiscal year have been entered. For information on how to perform an inventory count, see Count inventory on page 143.

Step 3: Provide information to your accountant

Once you have completed your year-end tasks, you can send your accounting data to your accountant. If your accountant requests an electronic copy of your accounting records, you can create a comma-separated text file that can be read by CaseWare, a client write-up software package that is popular among accountants. The file that is created through the export process will contain your company information, account information and journal entries. See To export to CaseWare on page 246.

Step 4: Enter end-of-year adjustments

Your accountant is likely to provide you with a number of adjustments, such as journal transactions. If they have been provided on disk, you can import these transactions (see Importing data on page 247). If the adjustments have been provided on paper, you can manually enter them in the Record Journal Entry window.

A
A B

Enter the accounts that are affected by the transaction in the Acct # column (appears as Account if preference is set to account name). Enter the amounts by which you want to debit and credit the accounts in the Debit and Credit columns.

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C D

The Out of Balance field must be zero before you can record the transaction. If you want to assign line items to specific jobs, enter the job number in this column.

The balance of your current-year earnings account is transferred to your retained earnings account. The balances of your income, cost of sales, expense, other income and other expense accounts are returned to zero. Closed sales, closed purchases, and journal entries assigned to closed sales and closed purchases, are kept or purged according to your selections in the Start a New Fiscal Year Assistant.

4 Click Record to record the journal entry.

Step 5: Back up your company file

Make a backup of your company file after you have finished entering adjustments and store it in a safe location. See Backing up and restoring company files on page 236. Make sure you verify the company file as part of the backup process. See Checking your company file for errors on page 239.

To start a new fiscal year

NOTE : Single-user access Please note that this task requires single-user access. For more information, see Single-user file locking for special tasks on page 241.

Step 6: Start a new fiscal year

If you have completed steps 15, you are now ready to start a new fiscal year. Make sure that all transactions for the year thats ending are entered in your company file before you begin closing the year. That way, you can avoid making adjusting general journal entries in the new year and your yearly records will be more accurate. This will also make it easier for you to compare your companys performance from one year to the next. If you have an accountant who produces your year-end fiscal reports, you may need to wait for your accountant to provide you with any adjusting entries that may be needed. When you start a new fiscal year: The previous fiscal years monthly totals for all accounts are changed to last year categories. If last year amounts already existed, those amounts will be replaced.

1 Go to the File menu and choose Start a New Year and then Start a New Fiscal Year. The Start a New Fiscal Year Assistant appears. 2 Follow the on-screen instructions. If you need help in these windows, click Help and then choose Help for This Window.

Step 7: Optimize and verify your company file

Once the Start a New Year procedure is complete, we recommend that you optimize and verify your company file. For more information, see Optimizing your company file on page 239.

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Starting a new payroll year

Complete the tasks below to close your payroll year and start a new payroll year.
Step 1 2 3 4 5 6 7 Action Process the last paychecks for the year Print year-end payroll forms Print vendor 1099 statements Print payroll reports Back up your company file Start a new payroll year Optimize and verify your company file See below below page 231 page 231 page 231 page 231 page 232

You can enter or change amounts that print on W-2 forms by manually adjusting the amounts that were calculated in your company file. The changes wont affect transactions or reports in your company file; the changes will only print on the W-2 forms. You can also choose to revert to the amounts calculated in your company file.
MYOB PAYROLL TAX FORMS

You can use the MYOB Payroll Tax Forms service to generate and file your year-end state and federal payroll forms using information extracted from MYOB accounting software. These include withholding tax forms, unemployment wage reports and new employee forms.
NOTE :

Step 1: Process the last paychecks for the year

You must make sure that all paychecks for the current payroll year have been entered. For more information, see Processing your payroll on page 110.

You need to register for MYOB Payroll Tax Forms to electronically file W-2 forms You can generate W-2 forms using MYOB accounting software. However, if you want to electronically file these forms, you need to register for the MYOB Payroll Tax Forms service.

Before you can file your payroll forms electronically, you need to register for the MYOB Payroll Tax Forms service. For more information, see Setting up MYOB Payroll Tax Forms on page 38. If you have registered for the service, see the online help for more information on how to electronically file your payroll tax forms. If you havent registered, you can view a demonstration of the forms available. However, they cannot be electronically filed.

Step 2: Print year-end payroll forms

You can print W-2 forms for your employees to use at tax time. Information for W-2 forms is tracked using the current payroll year for your company file. To locate the W-2 forms, click Prepare Payroll Tax Forms in the Payroll command center. For more information on preparing and printing W-2 forms, click Help and then choose Tell Me How.

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Step 3: Print vendor 1099 statements

You can print 1099 statements for your vendors to use at tax time. Information for 1099 statements is tracked using the current payroll year for your company file. To locate the 1099 statements, click Print 1099s and 1096 in the Purchases command center. For more information on preparing and printing 1099 statements, click Help and then choose Tell Me How. You can enter or change amounts that print on 1099 statements by manually adjusting the amounts that were calculated in your company file. For example, if you want to print a 1099 statement for a vendor whom you havent designated a 1099 vendor, you can enter the amounts you want to print on the 1099 statement for the vendor. The changes wont affect transactions or reports in your company file; the changes will only print on the 1099 statements. You can also choose to revert to the amounts calculated in your company file.

Step 5: Back up your company file

Before you start a new payroll year, make a backup of your company file. Once the previous year is closed, detailed payroll information is no longer available and W-2 forms, 1099 statements and other reports cannot be printed for that year. If youve 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 236.

Step 6: Start a new payroll year

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 accrual balances that do not have the Carry Remaining Leave Over to Next Year preference set in the Accrual Information window prevent you from editing or deleting paychecks for the previous year.
NOTE : Single-user access Please note that this task requires single-user access. For more information, see Single-user file locking for special tasks on page 241.

Step 4: Print payroll reports

Print the following payroll reports at a minimum: Payroll Register [Summary]shows the pay history of your employees. Payroll Activity [Summary]shows the paychecks that have been recorded but does not include any manual adjustments made in the Payroll Details tab of the Card Information window (in the employees card). Review these reports to spot potential issues or concerns. Look for figures that seem out of the ordinary or unexpected.

1 Go to the File menu, choose Start a New Year and then Start a New Payroll Year. 2 If you havent already created a backup file before purging the information, click Backup and follow the instructions in the windows that appear.

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3 Click Continue. Follow the on-screen instructions to complete the process. If you need help in these windows, click Help and then choose Help for This Window. 4 To ensure you have the correct tax tables for the new payroll year, go to the Help menu and choose Check for Product Updates (requires Internet access).

Step 7: Optimize and verify your company file

Once the Start a New Payroll Year procedure is complete, we recommend that you optimize and verify your company file. See Optimizing your company file on page 239.

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16 Managing user accounts and company files

Your companys accounting information is kept in a single file called a company file. This includes your accounts list, details about your customers and vendors, your list of items and all your transactions. Every time you record a transaction, it is saved in the company file. Theoretically, there is no limit to the number of transactions you can enterthe only constraint is that a very large company file might compromise performance. Think of how much time you have spent customizing your company file, setting it up and entering all your transactions. Imagine having a computer failure and having to do it all again. This is why its important to back up and verify your company file. You may need to restore a backup at any time, because a simple bump of the computer or a power surge can cause the computer to restart at just the wrong time and corrupt a company file. Company files can also be lost by hard-disk failures and theft. In all cases, the only protection is a backup. If possible, you should keep your backup separate from your computerpreferably off-site. Sometimes you might not realize you have a problem with your company file. Company file corruptions can hide in the file until you attempt to access that part of the file with the error. The Verify Company File function protects you against this. You should regularly verify, that is, check, your company file for errors.

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If several people enter transactions into the same company file, you can control which command centers, windows and transactions they can access with user accounts. The ability to limit users access can help to minimize fraud: for example, you can prevent a person who places orders with vendors from also being able to pay vendors, minimizing the likelihood of paying false bills.
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 accounting software labels it with the user ID. This allows you to keep track of who entered particular transactions, useful for following up disputes with vendors or customers for pinpointing fraudulent transactions. Administrator account The Administrator account is a default Simultaneous users MYOB accounting software allows more than one user to access a company file. Though MYOB accounting software provides you with a single network license at the time of purchase, you can buy additional licenses (also known as workstation seats) whenever the need arises.

To create a password for the Administrator account

1 Start your MYOB accounting software and click Open your company file in the welcome window that appears. 2 In the Open window, navigate to and select the company file to be opened, and click Open. The Sign-on window appears. 3 In the User ID field, type Administrator. 4 Click Change Password. 5 In the Change Password window, leave the Existing Password field blank, type the password in both the New Password and Confirm Password fields, and click Record.

user account always present in all company files and cannot be deleted. This special user account is the only one with access to all command centers, functions and windows. The person logged on as Administrator is able to create, edit and delete ordinary user accounts. For that reason, as soon as you create a company file, you should supply a password for the Administrator account; otherwise any user can log in and enter, edit and delete transactions without leaving a trace.

6 Click OK to the confirmation message that appears.

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To create a user account

1 Start your MYOB accounting software and click Open your company file in the welcome window that appears. 2 In the Open window, navigate to and 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 administrators 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 the Password button. The User Access window appears.

6 Click the New button to open the New User Details window.

7 Type the users 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 youve 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 centers or functions to be denied to the user.

11 Click OK.

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To obtain additional workstation licenses

When the volume of transactions grows too large for a single person to handle, you can purchase extra workstation licenses to allow additional users to access the company file simultaneously.
NOTE :

4 Call Customer Service at the number given in the Enable License window and follow the Customer Service representatives instructions.
NOTE :

Before you begin, have your credit card on hand.

Write down the confirmation code Ask the Customer Service representative for the company files confirmation codeyou may need it to activate the extra seats you purchased.

1 Start your MYOB accounting software and open the company file requiring extra workstation licenses. 2 Go to the Setup menu and choose Company Information. 3 In the Company Information window, click the License button.

5 Confirm the extra workstation licenses. If you want to confirm via the Internet, click Enable Online and click OK. Otherwise, type the confirmation code given to you by the Customer Service representative in the Enter Confirmation Code field and click OK.

Backing up and restoring company files

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 your MYOB accounting software to create a compressed archive file that takes up less space.
Single-user access required Making a backup requires single-user access. For more information, see Single-user file locking for special tasks on page 241.
CAUTION :

By creating custom forms and templates on the host and then copying them to workstations, you can be sure that all workstations are using the same forms and templates. And when you do a full backup, you ensure that the most recent versions of custom forms and templates are backed up. Dont store backups on the same hard disk as the software A single disaster can wipe out all your records. Make separate backups Sometimes disks fail in subtle ways. A disk failure can corrupt your data in such a way that you may not notice it during a session. Once you copy the damaged data over your previous backup, youre stuck with it. You will not have a valid backup and will need to re-create your company file. Multiple separate backups give you better protection. Store backups offsite Store all your backups in a safe place, preferably away from your office.

Precautions when backing up

Avoid common mistakes that can cause you to lose backups of company files: Take care when backing up multi-user company files If multiple users access a company file on a host, always back up the company file that is on the host, especially if you include custom forms, and letter and spreadsheet templates in the backup.

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To make a backup of your company file

CAUTION : Backups and multi-user company files If there are multiple users accessing a company file on a host computer, always back up on the host, especially if you are doing a full backup that includes custom forms, and letter and spreadsheet templates.

3 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.
NOTE : Maintaining data integrity We recommend checking for errors so that if you need to revert to a backup, data integrity is ensured.

1 Go to the File menu and choose Backup. A backup window appears.

4 Click Continue. If you selected the Do not check Company File for errors option, go to step 6 on page 238. If you selected the Check Company File for errors option, depending on the size of your company file, the 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.
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.

For more information about checking your company file for errors, either: see step 2 of To check your company file for errors on page 239. open the online help.

2 Choose the type of backup you want: To back up your company file and templates, click Backup all data. To back up your company file only, click Backup Company File only.

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6 In the Backup window, specify where you want to store the backup file.

Restoring a backup company file

The Restore command closes the company file youre currently using, decompresses a backup file so you can use it, and then opens the backup file.
NOTE : Single-user access for restorations This task requires single-user access. For more information, see Single-user file locking for special tasks on page 241.

To restore a backup
1 Go to the File menu and choose Restore. The Restore window appears. By default, the backup file is named MYOmmdd.zip, where mmdd is the current month and day from your computers system time and is the name of the company file you are backing up. The.zip file extension means that the file is automatically compressed to save space. 7 If you want, you can change the name of the backup file. 8 Click Save. The backup process begins. 9 Label all your backups with enough information to tell you when they were done and where you were up to in data entryfor example, Friday 5/5/06 or Backup as of 5/5/06.

If the Prompt for Data Backup When Closing checkbox is marked in the Preferences window, a window appears asking if you want to backup your company file. If you want to backup your company file now, click Yes and follow the prompts, otherwise click No. 2 In the Restore window, locate the backup file (with a.zip file extension) you want to restore, select it and click Open.
NOTE :

If the backup file is on a removable disk, insert the disk into the disk drive.

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3 Specify where you want to save the restored file and click Choose. By default, the name of the restored file is appended with and is then restored to the specified location. 4 A message appears showing that the company file will be restored to the selected folder.

5 Click OK to complete the restore.

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 files attributes by right-clicking the file, choosing Properties and clearing the Read-only checkbox.

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. 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 fix the company file by optimizing itsee Optimizing your company file belowand repeat from step 1 above to check if the errors have been fixed. Restore the company file from your most recent backupsee To restore a backup on page 238. 3 Click OK.

To check your company file for errors

CAUTION : 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 after getting all other users to log out. See Single-user file locking for special tasks on page 241.

Optimizing your company file

Over time, your company file will grow considerably in size. As you enter transactions, then remove or purge them, the file will have unused areas that once contained these transactions. These unused areas can affect the efficiency with which operations are performed in the company file. We recommend that you use the Optimization Assistant to remove the unused areas in the company file and keep your accounting software running efficiently.

1 Go to the File menu and choose Verify Company File. A confirmation window appears.

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To optimize a company file

CAUTION : Optimizing multi-user company files If multiple users are accessing a shared company file on a host computer, optimize the company file on the host. Optimizing a company file requires single-user access.

1 Open the company file to be purged. 2 Create a backup file. See To make a backup of your company file on page 237. 3 Go to the command center to be purged. The information you can purge is dependent upon the command center you are in. For example, if you are in the Sales command center, you can only purge closed invoices. 4 Go to the File menu and choose Purge [...]. 5 Click Continue and follow the instructions in the Purge [...] wizard.

1 Open the company file to be optimized. 2 Go to the File menu, choose Optimize Company File and click OK. 3 If an optimization recovery file exists, we recommend that you click Yes to retain a copy of it. Then click OK. 4 Click OK when the optimization process is complete.

Purging information that is no longer needed

Purging is the process of removing data from your company file. After you have used your MYOB accounting software for a long time, you will notice that the size of your company file has grown considerably. Information such as journal entries, sales, purchases, business contacts, activity slips and sales history figures builds up over time. 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.

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 accounting software to create a different named lock file for each company file.

To purge information
CAUTION : 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 after getting all other users to log out. See Single-user file locking for special tasks on page 241.

Sometimes, however, the lock file is not deleted. This can happen if your computer crashes or an error causes your company file to close unexpectedly. Lock files can accumulate in the company file folder, resulting in error messages appearing when you try to access your company file again. To overcome these problems, delete any lock files. See To delete lock files on page 242.

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Special considerations for networked company files

When multiple users access a company file over a network, you need to be aware of factors that affect the way you work. These factors are not present when only a single user accesses the company file.
HINT : View a list of users If you have been prevented from accessing the company file, you can determine the user who is locking you out. To do this, go to a computer that has access to the company file and view the list of active users (go to the File menu and choose Active Workstations).

Preferences in a network environment

Some of the choices in the Preferences window of your MYOB accounting software can affect how everyone works with your company file. These preferences are clearly marked System-wide.

Single-user file locking for special tasks

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, checking and optimizing the company file. For example, optimizing a company file rearranges its internal structure, so ensure that the file is not being accessed while this process is taking place. Other single-user tasks are part of standard bookkeeping practice. For example, when you print a report, you do not want anybody to change data that will appear in the report while it is being printed.
HINT : 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.

Multi-user file locking for daily transactions

Multi-user file locking ensures that changes cannot be made in some windows while related data is being changed by another user. For example, a situation could arise where a user is recording information in a sales transaction window while another user is changing details of the customer card being used in the sales transaction. In such a situation, multi-user file locking disallows changes being saved in one of the windows until the changes have been saved in the other window. If you would like to know when another user has changed data in a window, go to the Setup menu, choose Preferences, click the System tab, and mark Automatically Refresh Lists When Information Changes. Now, if another user changes information you are viewing, your MYOB accounting software closes your window. When you reopen it, the data is updated.

Single-user file locking prevents all but the first logged-in user from accessing a shared company fileother users cannot even log in. To enable single-user access after starting your MYOB accounting software, click Single-user access in the Sign-on window. The tasks that require single-user file locking include: backing up a company file restoring a backup file company file verification

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purging data exporting data importing data starting a new fiscal year creating, changing or deleting report batches optimizing a company file setting up, changing or removing user accounts starting a new payroll year loading payroll tax tables synchronizing cards and Outlook contacts creating, changing or removing payroll categories.

No more than 10 company files in any folder may be opened at one time There are more than 10 lock filesthe maximum permittedin the folder where a company file is kept. This can occur legitimately if there are more than 10 company files in the folder, 10 of which are open simultaneously, so that an 11th open file would create an illegal 11th lock file. It is 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. You have reached the maximum number of simultaneous users allowed under your MYOB accounting software Workstation License If you know this is incorrect, the problem may be a lock file.

Problems with lock files

MYOB accounting software displays a File is busy; access denied message when another user is accessing a shared company file and you both try to simultaneously save a transaction or write data. When you see this message, wait a few moments for the other transaction to finish and for MYOB accounting software to delete the lock file, and then click Retry. If the power fails, or you switch off your computer while your MYOB accounting software is running, or your system crashes, MYOB accounting software is unable to delete the lock file. You will need to delete the lock files manually (see To delete lock files below). 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: 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.

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 your MYOB accounting software will run correctly. 1 Ask all users to log out of your MYOB accounting software. 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 your MYOB accounting software. 4 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 your MYOB software and reopen the shared company file.

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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 dont, 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 its being printed or displayed, that particular entry may be indicated by zeroes or blank spaces on the report. In addition, new entries that other users make might affect the total amounts on some reports. You should therefore 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 Customization window for the report. You can mark the Prevent Data Changes During Report Generation checkbox (on the Finishing tab of the Report Customization 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 software is generating the report. When you print or display the report while this checkbox is marked, the report will be as up to date and accurate as possible. However, keep in mind that a few MYOB accounting software reports take some time to be generated. You might want to consider printing these lengthy reports at times when other users wont be forced to wait for the report to be generated before they can resume making entries in the company file.

custom reports unless you copy the reports to the appropriate locations on their workstations. (You may want to ask your system administrator to perform this task.) Your custom reports are stored in the Custom folder, which is under the folder where your MYOB accounting software is installed on your workstation.

Displaying up-to-date information

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. 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 Mark the Automatically Refresh Lists when Information Changes checkbox in the System tab view of the Preferences window. (From the Setup menu, choose Preferences and then click the System tab.)
NOTE : Automatic refreshing slows response Consider whether you need to have on-screen information refreshed automatically. If you choose this option, your MYOB accounting software will operate more slowly for everyone who is accessing the company file. If speedier data entry is a priority, we recommend that you choose to manually refresh information regularly.

Storing custom reports on a network

When you create custom reports, information about them is stored on your workstations hard disk and not on the network. Other users of the same company file wont be able to use your

Manual update Go to the Window menu and choose Refresh All. To update an on-screen report in the Report Display window, click Redisplay.

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Improving performance
The following list provides a number of ways in which you can get the most out of your MYOB accounting software: Use single-user access whenever possible. Optimize your company file frequentlysee Optimizing your company file on page 239. Do not mark the Automatically Refresh Lists when Information Changes checkbox in the Preferences window. Do not check for duplicate transaction numbers. Use Easy-Fill when entering card names, account names, and item numbers or names. Avoid leaving list windows open. Use only a few linked accounts for inventory items. Combine line-item quantities on sales and purchases. Generate large reports when youre the only person using the company file. Print reports by a specific month instead of by a date range.

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Appendix A Importing and exporting data

Exporting data
You can take data entered in your MYOB accounting software and use it in other software or in other MYOB company files. This process is called exporting data. Some of the types of information you can export are: accounts, items, general journal entries, inventory adjustments, Receive Money transactions, Spend Money transactions, sales, purchases, cards, jobs, activities and activity slips. The data can be exported to a tab-delimited or commaseparated text file.
NOTE : 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 241.

To export data
1 Go to the File menu, choose Export Data and then choose the type of data you want to export. The Export File window appears. 2 Select the export file format and enter other information in this window. For detailed field help, click Help, and then choose Help for This Window. 3 Click Continue. The Export Data window appears. 4 Choose the fields you want to export and the order in which you want to export them. To do this, click on the first field you want to export in the MYOB Premier Fields column. Field 1 will appear in the Export Order column next to the field you

Before you export data, you should make a backup of your company file. See Backing up and restoring company files on page 236.

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selected. The field name will appear at the top of the Export Fields column on the left side of the window.

5 Repeat the previous step for each field you want to export. If you want to remove a field name from the Export Fields column, click the name in the MYOB Premier Fields column. If you want to export all the fields in the order theyre shown in the MYOB Premier Fields column, click Match All. 6 When you have selected the fields, click Export. The Save As window appears. 7 Enter a file name and location for the export file and click Save. The file is exported.

Exporting to and importing from CaseWare

Accountants routinely ask their clients to provide financial information in an electronic format that can be loaded into their software. This makes it easier for the accountant to examine and analyze their clients records. After examining their records, the accountant may make adjustments to the records and these need to be entered into the clients accounting software. If your accountant requests an electronic copy of your accounting records, you can use your MYOB accounting software to create a comma-separated text file that can be read by CaseWare, a client write-up software package that is popular among accountants. The file that is created through the export process will contain your company information, account information and journal entries. See To export to CaseWare below. If your accountant makes adjusting journal entries that he or she wants you to enter into your company file, you can request them to give you these journal entries in electronic format. You can then import these journal entries to your MYOB accounting software. See To import from CaseWare on page 247.

To export to CaseWare
Before you export data to CaseWare, make a backup of your company file. See Backing up and restoring company files on page 236. 1 Go to the File menu, choose AccountantLink and then Export to CaseWare. The Export File window appears. 2 If you want to export journal entries in addition to company information and accounts, mark the Include Journal Entries in Export File checkbox. (Keep in mind, however, that exporting journal entries may take some time, and may create a very large export file.)

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3 From the Dated to end of list, choose the most recent month you want to include in the file. All journal entries from the first day of the fiscal year through the last day of the month you selected will be included in the text file. 4 When youre ready to create the CaseWare export file, click Export. The Save As window appears. 5 Specify a location and file name for the export file. The data is exported and saved as a text (.TXT) file. 6 Click OK or Save to begin creating the CaseWare export file. When the file has been created, you can send it to your accountant, who can then import it into CaseWare.

NOTE : Single-user access This task requires single-user access. For more information, see Single-user file locking for special tasks on page 241.

1 Before you import data from CaseWare, make a backup of your company file. See Backing up and restoring company files on page 236. 2 Go to the File menu, choose AccountantLink and then Import from CaseWare. The Open window appears. 3 Locate the import file that your accountant sent you and click Open. The import process begins immediately. If you get a warning or an error message indicating that the import was not successful, refer to the import log file in your MYOB accounting software installation folder for a list of errors or warnings. This is a text filereadable by most word processorsthat lists the problems encountered during the import.

To import from CaseWare

Before you begin the import process, you should obtain from your accountant the import file containing the general journal entries that you want to import.

Importing data
MYOB accounting 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, general journal entries, inventory adjustments, Receive Payments transactions, Receive Money transactions, Spend Money transactions, Pay Bills transactions, sales, purchases, cards, jobs, activities and activity slips. The data can be imported from a tab-delimited or commaseparated text file.
NOTE : Single-user access required Please note that 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 241.

Importing from CaseWare You can import journal entries from CaseWare directly into your MYOB accounting software. For more information, see Exporting to and importing from CaseWare on page 246.

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If you are importing from Quicken For information on how to

5 Match the import fields with the MYOB Premier fields column. a Click the name of a field in the Import Fields column. b Click the matching field in the MYOB Premier Fields column. The import field you selected appears in the Matching Import Field column.
NOTE : Some fields must be imported Fields that have an asterisk (*) next to them must have matching import fields assigned to them.

import Quicken (QIF) transactions into your MYOB software, see the online help.

To import data
Before you start the import process, you will need to export the data you want from the program youve used to create the data. The data you want to import must be stored in a tab-delimited or comma-separated file format. 1 Go to the File menu, choose Import Data and then choose the type of data you want to import. The Import File window appears. 2 Select the import file format, the type of the first record, and, if required, the method of handling duplicate records. For more information, click Help and then choose Help for This Window. 3 Click Continue. The Open window appears. 4 Locate and select the file you want to import and click Open. The Import Data window appears.

Click a field in the Matching Import Field column to remove it. If all the fields in the import file match those in the MYOB Premier Fields column, click Match All to match all fields simultaneously. 6 Click Import to import the data. If you get a warning or an error message indicating that the import was not successful, refer to the import log file in your MYOB accounting software installation folder for a list of errors or warnings. This is a text filereadable by most word processorsthat lists the problems encountered during the import.

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Appendix B More tools

More tools for organizing your day-to-day tasks
In addition to providing essential accounting features, your MYOB accounting software has a number of tools to help you organize your day-to-day tasks. This section lists some of the tools available. the letters and your contacts card-file information into your word-processing software where you can print them. For more information, see the online help.

Setting up reminders using the To Do List Maintaining a Contact Log

The Contact Log lets you maintain a comprehensive list of business contacts which includes sales, purchases, phone calls, mailings and so on, for every person and company in your Card File. When a customer or vendor calls, you can use the Contact Log to retrieve a complete history of your business relationship with that contact. To view the Contact Log or make a log entry, click Contact Log in the Card File command center. You can even use the business contacts you enter to create a system of billing for the time you spend with your customers. See Billing for time on page 121. The To Do List is a lists of reminders that inform you to perform your regular business tasks. The To Do List will tell you, at a glance when you need to recontact a client, when your inventory needs to be re-ordered, when your discounts expire, and much more. The software uses the dates you set up in the Business Calendar window to add reminders to the To Do List. If the number of days for a reminderexcept for overdue payments owed to youplaces the reminder on a non-business day, the reminder will be moved to the previous business day. For more information on how to use the To Do List, click To Do List, see the online help.

Creating personalized letters

With OfficeLink, you can create personalized letters for sending to your clients, such as a note of appreciation, a reminder about unpaid invoices or a letter conveying the status of an order. You can use one of many OfficeLink templates to create the letters quickly. OfficeLink then exports

Organizing your cards

Identifiers are one-letter labels you can assign to cards to help you organize your cards into groups. When you create reports or view information about cards, you can limit the information you view to that of a specific group of cards by indicating the identifiers youve assigned to the cards in that group.

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To create 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 of the identifiers as you want and click OK.

territories. You then use the report filter to choose which salesterritory list you want to display in your report. You can open the Custom List & Field Names window and the Custom Lists window from the Lists menu. For information about creating custom lists and custom fields for your cards, click the Help button in these windows, and then Tell Me How.

To assign identifiers to a card

1 Display the required card in the Card Information window. 2 Click the Card Details tab and click the Identifiers button. 3 Mark the checkbox beside the identifiers you want to assign to the card. 4 Click OK.

Linking a picture to a record

You can link a picture file to a card or item. The picture appears in the Card Information or Item Information window. The pictures are stored in the Graphics folder in the softwares installation folder. If you move your company file, you must move the Graphics folder to the same location to continue displaying the pictures.

Recording additional information about your cards

If you need to record additional information about your cards that may be specific to your business, you can use the custom lists and fields in the Card Information window to do so. There are three custom lists and three custom fields for each card type. You can label them according to your needs. (Similarly, you can record additional information about your items by using the custom lists and fields in the Item Details tab of the Item Information window.) Custom fields allow you to enter any information you like for example, an employees last review date. You select the fields in the Report Fields tab of the Report Customization window. Custom lists enable you to create lists of predefined attributes that remain standard over time and can be used to sort your cards. For example, you can sort customers according to sales

To display a picture
1 Display the required card in the Card Information window (or item in the Item Information window). 2 Click the Card Details tab (or the Item Details tab) and doubleclick the picture file area. The Picture Information window appears. 3 Click Link. The Open window appears. 4 Locate the graphic file you want to display for this card or item and then click OK or Open. The Picture Information window appears with the selected picture appearing on the right. 5 Click OK. The picture appears in the Card Details tab (or the Item Details tab).

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To replace the picture

If you want to replace the displayed picture with another, doubleclick the displayed picture and continue with step 3 of the previous procedure.

Using the Business Calendar

MYOB accounting software has a business calendar you can customize to suit the needs of your business. You can: specify the days on which your business is closed, so reminders on your To Do List appear on open-for-business days, and note the days of the year on which important company events fall. Display the business calendar by choosing Business Calendar from the Setup menu. For more information on using the business calendar, click the Help button and then Help for This Window.

To remove a displayed picture

If you want to remove the displayed picture from the Card Details tab (or the Item Details tab), double-click the picture. In the Picture Information window, click Unlink and then click OK. The graphic will disappear from the Card Details tab (or the Item Details tab) but will remain in the Graphics folder.

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Appendix C Networking company files

Preparing company files for multiple users
If multiple users will be simultaneously accessing a company file, it should be stored on a host computer where it can be accessed across the network from other Windows workstations. The host computer and workstations must be running Windows XP, 2000 or NT4 (SP6). Note that the workstations do not all need to be running the same version of Windows.
Setting up networks needs expert skills Because setting up routers or hubs, cabling computers, and configuring network hardware and software require expert knowledge, you may need to employ an expert with the necessary skills.
NOTE :

All users who will need to access the company file automatically belong to the special Everyone user group.This group is used as the default group in these procedures as it simplifies the sharing of a host folder. The members of the Everyone group will be given permission to open, read from and write to the shared company file.
NOTE :

The Everyone user group may be a security risk

The Everyone user group allows anyone on the network to access the shared company file. If some employees are not authorized to access your accounting data, read Windows help or consult a networking expert to set up more secure access.

This section starts from the point where the network is already set up and running. A local area network (LAN) can be set up in many different ways. The procedures in this section describe the most common situation where a LAN is protected from the external Internet by a firewall on a router or gateway computer.
NOTE : 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.

Continue with these tasks: Setting up the network hardware, page 254 Setting up a company-file folder on a Windows host, page 254 Accessing the shared company file from Windows workstations, page 259.

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Setting up the network hardware

Unless you are an expert, employ a networking consultant to set up your network hardware. Show the consultant these requirements for the host computer, and the hardware and software requirements for the workstations specified in the Getting Started guide.
Networking Windows host Equipment Local area network (LAN), peer-to-peer Windows XP, 2000 or NT4 (SP6) Pentium III processor, with 128 MB RAM, or better Older computers may need a network interface card (NIC) Protocols Ethernet (10BASE-T twisted pair cable, shielded or unshielded) or Fast Ethernet (100BASE-TX twisted pair cable, shielded), with Windows networking (NetBIOS, NetBEUI, or TCP/IP)

Now continue with these tasks: Setting up a company-file folder on a Windows host, below Accessing the shared company file from Windows workstations, page 259.

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: 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 networkthe fastest, with the most memory. Host the company file on the key employees computer If one employee will use the company file more than anyone else, consider storing the company file on that employees computer. This person will experience better performance from accessing the company file directly, compared with accessing it across the network.

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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 2000 Professional or XP, below To share a folder on Windows 2000 Standard, page 257 To share a folder on Windows NT4, page 258

4 In the Company_Files Properties window, click the Sharing tab and set the fields and controls as shown below.

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 257. 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 Log in as an administrator if only administrators can set permissions on your computer. 2 In Windows Explorer, create a folder named Company_Files in a convenient location, for example, c:\Company_Files. This folder is where the shared company file will be stored. 3 Right-click the Company_Files folder and choose Properties.
Maximum allowed

Share this folder (Share this folder in the network) Share name

Click this radio button. If your network does not have workgroups or you are logged in to a domain, mark the Share this folder in the network checkbox, and then complete the wizard that appears.

Type the name that will be seen by users accessing the folder from their workstations, for example, Company_Files. Type a description that users will be able to read in the folders Property window. This option is not present if your network does not have workgroups or you are logged in to a domain. Click this radio button 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.

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7 In the Permissions for Company_Files window, click the Everyone user group, set the Allow and Deny checkboxes in the Permissions list as shown below and click OK.

Allow network Click this radio button. This option is not present if your users to change network does not have workgroups or you are logged in my files to a domain. Permissions for Everyone Full control Change Read Allow Mark Mark Mark Deny Clear Clear Clear

5 If your network does not have workgroups or you are logged in to a domain, continue with step 8. 6 Click the Permissions button.

8 In the Company_Files Properties window, click OK. 9 In Windows Explorer, move the company file from its present location to the Company_Files folder on the host. 10 Continue with Accessing the shared company file from Windows workstations on page 259.

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To share a folder on Windows 2000 Standard

This procedure applies to Windows 2000 Standard. If you are using Windows 2000 Professional, see To share a folder on Windows 2000 Professional or XP on page 255. Consult a networking expert to set up appropriate sharing and access permissions if this procedure does not apply to your network configuration, or read the Windows help (search for sharing files or sharing resources). Some versions of Windows have file sharing disabled by default, so you must enable file sharing. If file sharing is already enabled, you can begin with step 7.
ENABLE FILE SHARING

SHARE A COMPANY-FILE FOLDER

7 In Windows Explorer, create a folder named Company_Files in a convenient location, for example, c:\Company_Files. This folder is where the shared company file will be stored. 8 Right-click the Company_Files folder and choose Properties. 9 In the Company_Files Properties window, click the Sharing tab and set the fields and controls as shown below.

1 Open the Network control panel. 2 In the Configuration tab, click File and Print Sharing. 3 In the File and Print Sharing window, mark the I want to be able to give others access to my files checkbox and click OK. 4 On the Identification tab, complete the following fields and click OK.
Computer name Workgroup Type the name that will be visible in Network Neighborhood (My Network Places on some versions of Windows). 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.

Shared As Share Name

Click this radio button. Type the name that will be seen by users accessing the folder from their workstations, for example, Company_Files. Type a description that users will be able to read in the folders Property window.

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5 In the Network control panel, click OK. 6 If a message asks you to restart the computer, click Yes.

10 Set the access permissions according to which groups of controls appear on the Sharing tab. Access Type controls group Click the Full radio button and enter a password in the Full Access Password field. (Users will

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have to type this password to access the company file in the Company_Files folder.) Name and Access Rights controls group Click the Add button and then, in the Add Users window, click: the Full Access button to allow all users unlimited access to the Company_Files folder, or the Custom button, check The world item, then click OK and choose Read Files and Write to Files. 11 In the Company_Files Properties window, click OK. 12 In Windows Explorer, move the company file from its present location to the Company_Files folder on the host. 13 Continue with Accessing the shared company file from Windows workstations on page 259.

3 On the Identification tab, complete the following fields and click OK.
Computer Type the name that will be visible in Network Neighborhood. Name Domain 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.

4 In Windows NT 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. 5 Right-click the Company_Files folder and choose Properties. 6 In the Company_Files Properties window, click the Security tab and click Permissions. 7 In the Directory Permissions window, click the Everyone user group, set the values as shown below and click OK.
Replace Permissions on Subdirectories Replace Permissions on Existing Files Type of Access Clear this checkbox. Mark this checkbox. Set to Full Control.

To share a folder on Windows NT4

This procedure applies to Windows NT4 (SP6). 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.
NOTE : File sharing on by default When you create a folder in Windows NT, the folder is shared automatically, unless the person who set up your network turned off this default behavior.

1 Log in as an administrator, if necessary. 2 Open the Network control panel.

8 In the Company_Files Properties window, click OK. 9 In Windows NT Explorer, move the company file from its present location to the Company_Files folder on the host computer. 10 Continue with Accessing the shared company file from Windows workstations on page 259.

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Accessing the shared company file from Windows workstations

Workstations are Windows computers that access a company file stored on another computer, referred to as a host computer. Accessing the remote company-file folder on the host requires you to complete these procedures for each Windows workstation on the local area network (LAN). This process is also known as mapping network drives. When you are able to access the company-file folder containing the shared company file, you can create a desktop shortcut to the file. Clicking the shortcut starts your MYOB accounting software and opens the shared company file. Complete these procedures on every Windows workstation that is to access the shared company file: To access the shared company-file folder, below To start your MYOB accounting software from a shortcut to the company file, page 260. b Expand Microsoft Windows Network. c Expand the workgroup or domain in which the host is located, if there is one. d Expand the host computer. e If a Connect to hostName window appears, complete the User Name and Password fields, click the Remember my password checkbox and click OK. You should now be able to see the Company_Files folder.
NOTE :

Navigating network folders may not be necessary In some versions of Windows, depending how the network access is set up, all networked computers may be visible in Network Neighborhood (My Network Places) without you needing to navigate to network folders.

3 Right-click the Company_Files folder and choose Map Network Drive. 4 In the Map Network Drive window (or wizard), accept the proposed drive letter or choose another, mark the Reconnect at logon checkbox, and click OK (Finish). 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:). 5 Open the shared Company_Files folder to see the shared company file in it.

To access the shared company-file folder

NOTE : Access may be password protected If a password is required to access the shared company-file folder, a window will request you to enter a user name and password when you attempt to access it.

1 In Windows Explorer, open Network Neighborhood (or My Network Places). You can also double-click the Network Neighborhood (My Network Places) icon on the desktop. 2 Locate the host computer on which the shared company-file folder is storedsee Setting up a company-file folder on a Windows host on page 254.
1 a Expand Entire Network.

In Windows XP Home, open My Network Places, click Add a network place and complete the Add Network Place wizard.

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6 Continue with To start your MYOB accounting software from a shortcut to the company file below.

6 Enclose the location of the program file in double quotation marks (): "C:\Premier\Myobp.exe" for example. If you double-clicked this shortcut on the desktop now, it would only start MYOB Premier Accounting. You have to modify the Target field so that the shortcut also opens the company file. 7 In the Target field, type a space after the closing quotation mark (), and then type the location of the company file, including the .myo file extension. The path to this location should also be enclosed in its own quotation marks: "C:\Premier\Myobp.exe" "V:\Clearwtr.myo" for example. 8 Copy the location of the company file from the Target field, minus the name of the company file, and paste it into the Start in field, for example V:\ as shown below.

To start your MYOB accounting software from a shortcut to the company file
A fast way to start your MYOB accounting software and open a company file is to put a shortcut to the software and company file on the Windows desktop. Then you only have to double-click the shortcut to be up and running.
NOTE : Dont create a shortcut only to the company file If you are knowledgeable about shortcuts, you might be tempted to create just a shortcut to the company file. Unfortunately, there are not enough letter combinations to ensure that the .myo file extension is unique to MYOB accounting software. So, doubleclicking a shortcut just to a company file might start another program that works with a different kind of .myo file.

1 Right-click an empty area of the desktop and choose New and then Shortcut. 2 In the Create Shortcut wizard, type the path to the your MYOB accounting software file in the Command line field (or in the Type the location of the item field) and click Next. Alternatively, you can click Browse and navigate to and select the program file, and then click Next. 3 On the next page, either accept the proposed name for the shortcut or type your preferred name in the Select a name for the shortcut field (or the Type a name for this shortcut field), and click Finish. 4 Right-click the new shortcut and choose Properties. 5 In the Myobp.exe Properties window, click the Shortcut tab. The Target field displays the location of the MYOB Premier Accounting program you entered in step 2 above.

9 Click OK to close the Myobp.exe Properties window. 10 Double-click the shortcut on the desktop to test it. MYOB Premier Accounting should start on this workstation and immediately open the specified company file, whether it is stored on a remote host or this workstation. 11 Repeat step 1 through step 10 on each workstation that needs access to the company file.

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Glossary
A account An account is a tool used to organize a business. You can assign transactions to eight account classifications: Asset Liability Equity Income Cost of sales Expense Other income Other expense Accounts are classified as header or detail. Transactions are assigned directly to detail accounts. Header accounts are used to summarize multiple detail accounts. Each account must have a unique number. accounting period A part of your fiscal year. MYOB accounting software treats each calendar month as a separate accounting period. Your MYOB accounting software also provides an optional 13th period for year-end adjustments. accounts list Commonly referred to as a chart of accounts, this is a list of all your asset, liability, equity, income, cost of sales, expense, other income, and other expense accounts. accounts receivable What your customers owe you. The sum of all accounts receivable is recorded as an asset account. Any time you record a sale in the Sales command center, the unpaid balance of the sale is added to your accounts receivable balance. Every time you enter a customer payment (using the Sales command center), the amount is subtracted from your accounts receivable balance. accrual method (basis) A method of accounting which records sales and purchases at the time theyre delivered, not at the time theyre paid for. aging: payables The number of days between receiving a bill from a vendor and an aging date (usually today). aging: receivables The number of days between invoicing a customer and an aging date (usually today). account number The account number identifies an account. Each account must have a unique number. accounts payable What you owe for goods or services delivered. The sum of all accounts payable is recorded as a liability account. Any time you record a purchase in the Purchases command center, the unpaid balance of the purchase is added to your accounts payable balance. Every time you pay a bill (using Pay Bills in the Purchases command center), the amount is subtracted from your accounts payable balance.

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allocation account Usually an expense or income account used to automatically balance a transaction such as a check or deposit. assets Things you own. Your bank account and computer are both assets. If someone owes you money, the total owed to you is an asset. Current assets are assets that can be turned into cash within a relatively short period of time (less than a year). Things that take longer to turn into cash, like your factory building, are called fixed assets. average cost method The average cost method to value an inventory item. That is, the total cost of all your purchases for a particular item currently on hand divided by the number of items on hand. B 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 companys position at a particular time. A balance sheet lists the balances of the companys asset, liability and equity accounts. It is called a balance sheet because the total value of the asset accounts minus the total value of the liability accounts always equals the total value of the equity accounts. bill A recorded purchase transaction. budget Expected monthly net activity for an account. Budgets are useful for planning for the future and for analyzing actual performance against planned performance.

C category A label you create and define for grouping transactions. A category can be a department, profit center, geographic division or any other subset of your business that requires separate reporting. 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 theyre paid for, not when theyre 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 software does not require that you actively close a period. However, in the Preferences window you can prevent accidental posting to a closed (locked) period. closed purchases Purchases that have been paid in full. closed sales Sales that have been paid in full. company information Found in the Setup menu, your company information contains your companys name, address, tax information and information about your companys fiscal year. conversion month The earliest month in the fiscal year for which transactions are to be recorded. If you purchase your MYOB accounting 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.

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cost of sales Sometimes called cost of goods sold this account type works just like an expense account. The only difference is where it appears on the profit & loss statement. Cost of sales accounts appear after your income accounts, but before your expense accounts. Cost of sales is subtracted from your income to produce gross profit, but your expenses are subtracted from your gross profit to produce net profit. You are not required to use cost of sales accounts. credit An amount on the right side of the ledger. (Debit amounts appear on the left.) A credit amount increases the balance of accounts with a credit balance and decreases the balance of accounts with a debit balance. Accounts that normally carry a credit balance are liability, equity and income accounts. 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 customers account is overpaid. A customer credit is settled by writing a refund check or applying the amount to another open invoice. credit terms The agreed upon rules governing the number of days between delivery and payment, and discounts for early payment and penalties. In MYOB accounting software, you can set default terms for all customers. creditor Someone to whom you owe money. D

current liabilities next year.

Liabilities that become payable within the

current year earnings Current year earnings is an equity account. Its balance equals your income minus cost of sales and expenses. Current year earnings are zero at the beginning of a fiscal year. Current year earnings are kept as a running total as the fiscal year progresses. When you start a new fiscal year, the balance of the current year earnings account is reset to zero because the balance amount is moved into the retained earnings account. customer Someone to whom you sell goods or services. You must enter customer details in a customer card before you record a sale.

debit An amount on the left side of the ledger. (Credit amounts appear on the right.) A debit amount increases the balance of accounts with a debit balance and decreases the balance of accounts with a credit balance. Accounts that normally carry a debit balance are asset and expense accounts. debit purchase See vendor debit.

debtor Someone who owes you money. deposits from customers Advances received for goods or services not yet delivered. Customer deposits are kept in a liability account. deposits to vendors Advances paid to vendors for goods or services not yet delivered. Vendor deposits are kept in an asset account.

current assets Assets that can be turned into cash within a relatively short time (less than a year) are called current assets. Some of your current assets are your bank accounts, accounts receivable and petty cash. Current assets usually do not lose their value over time. Current assets normally have a debit balance.

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depreciation The expense allocation of the cost of an asset over a period of time. Most accountants create a contra-asset account, such as accumulated depreciation, to track the depreciation of an asset. A typical depreciation transaction credits the contra-asset account and debits a depreciation expense account. Depreciation is most often recorded as a general journal entry. 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. discount early payment The amount taken off the balance due in return for payment within an agreed number of days. discount volume purchase The amount taken off an items cost because of a special vendor or customer arrangement. discount days The number of days from a sale or purchase within which full payment of the balance due entitles the payee to a discount. double-entry accounting A method of bookkeeping in which every entry is balanced by another entry. Correct doubleentry accounting always provides a balanced set of books; that is, the total value of your asset accounts minus the total of your liability accounts should equal the total value of your equity accounts.

E earnings Income minus cost of sales and expenses. See current year earnings. equity A companys net worth. The equity of a company equals its assets minus its liabilities. Equity is an account type. Equity accounts usually carry a credit balance. Some common equity accounts are current year earnings, retained earnings and shareholders equity. expense A cost associated with running a business. Expense is an account type. Expense accounts usually carry a debit balance. F finance charge The amount added to an outstanding balance as a penalty for late payment. financial statements The balance sheet and income (profit & loss) statement. The balance sheet is your companys financial picture at a particular time. The income statement shows your companys financial performance over a period of time. fiscal year The 12-month period you use to define your accounting year. MYOB accounting software does not require that it matches the calendar year. You are also provided an optional 13th period for making year-end adjustments that you do not want to affect a particular month. fixed assets Assets that have a relatively long life (a year or more). Your buildings, cars and computers are fixed assets. Fixed assets usually depreciate; that is, they lose some of their value as you use them.

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G general journal A journal used to record miscellaneous transactions not entered in other journals. For example, year-end adjustments and depreciation expense. general ledger This is where all your account informationsales, purchases, inventory, cash in, cash outcome together. You prepare your financial statements (balance sheet and income statement) from the general ledger information. gross profit It is defined as income minus cost of sales. H header account A header account is used to group similar detail accounts. You cannot post a transaction to a header account. historical balance The balance of an account prior to converting your records to MYOB accounting software. You are not required to enter historical balances. Enter them only if you wish to compare a current months activity to the activity for the same month last year. 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 companys performance over a period of time. An income statement begins with income. It then L

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. inventory Raw materials, items available for sale and items in the process of being made ready for sale. Most accountants record an inventorys value in a current asset account. Inventory items are valued using the average cost method. invoice The record of a sale. item A unit in your items list. An item can be physical inventory, like a widget or a pair of shoes; or it can be non-physical, like an hour of your time. J job Work for which you wish to track income and expenses. A job can be a profit center, a product line, a project or any other subset of your business that requires a separate income statement. journal A tool for organizing your accounting entries. All entries are grouped into one of six journals: general, disbursements, receipts, sales, purchases or inventory.

liability Things you owe. Your working capital loan is a liability. Your accounts payables is what you owe someone for a purchase, and are liabilities. Liabilities that are due within the next year are called current liabilities. When a liability is not due for more than a year, it is called a long-term liability. Liabilities normally have a credit balance.

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linked account Your MYOB accounting software uses linked accounts to post your inventory, sales and purchase transactions to the proper account. When, for example, you link your receivables account, you are telling your MYOB accounting software where to post the balance due from a sale. long-term liability A liability that does not have to be paid for at least a year. 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 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. O open bill A purchase with an outstanding balance due. open sale A sale with an outstanding balance due. opening balance The balance of an account as of the start of the first day of your conversion month. operating profit Profit you made before considering other income and other expense. P

other expense An account type used to record expenses that are not directly related to your companys operations such as loan interest, fines, etc. Other expense accounts usually have a debit balance. other income An account type used to record income that is not directly related to your companys 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.

payables What you owe for items or services delivered. See accounts payable on page 261. profit & loss statement See income statement.

profit center A subset of your business for which you want to track income and expenses. You can track a profit center by assigning a job number or category code to transactions. promised date The date a pending sale or pending purchase is due to be delivered on. If a pending sale is not delivered as of its promised date, a reminder is posted to the To Do List. purging The act of erasing old data. You can purge journal entries, closed sales, closed purchases, activity slips and contact logs.

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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 bills, for which the journal entry is not immediately obvious. receivables What someone owes you for items or services delivered. See accounts receivable. reconciling The process of checking that your records agree with your banks 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 fiscal year any money earned (or lost) during the fiscal year is transferred to retained earnings. Retained earnings are recorded in an equity account. revenue Income from the sale of goods or services. Revenue is recorded in an income account. Income accounts usually carry a credit balance. reversing The process of canceling a transaction by entering a new transaction with the same amounts but with opposite signs. S shareholders equity The owners stake in the company. It is the amount the owners invested in the company plus the current year earnings and retained earnings.

T terms See credit terms.

transaction An entry that affects the balance of accounts. trial balance A report showing all the activity for an account or accounts within a selected date range. It shows the balance of the account at the beginning of the date range, the activity within the date range and the balance at the end of the date range. A trial balance is useful for checking your entries before performing your period-end processing. V vendor Someone from whom you buy goods or services. You must enter vendor details in a vendor card before you can record a purchase. vendor debit When you return something to a vendor, and you record a purchase with a negative balance, it is called a vendor debit (or a debit purchase). A vendor debit is also created when you overpay your account. A vendor debit is settled by recording a vendors refund check or by applying the amount to another open bill for the same vendor.

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268

Glossary

MYOB Premier Accounting 2007 (v16)

Index
Numerics 1099 statements printing at year-end 231 setting up vendor card to report payments 26 exporting to CaseWare 246 to other software 245 finding 155 header 19 152 importing 247 levels 18 list of 1820 multiple currencies, tracking 180 new 19 152 opening balances 20 reconciling 221 reviewing 18 setting up 19 transfer money between accounts 49 to foreign accounts 185 types 19 152 undo reconciliation 221 See also bank accounts Accounts command center 22 Accounts Easy Setup Assistant 17 Accounts List window 152 accounts payable paying 92 reconciling at month-end 219 reconciling at year-end 219 accounts receivable payments 71 reconciling at month-end 219 reconciling at year-end 219 accrual balances, viewing an employees 119 Accrual Information window 102 accruals, employee 28 changing 119 linked wages category 102 payroll categories changing 102 creating 100 deleting 157 viewing 119 ACH Direct. See MYOB Business Services (MBS) activities billing rates, setting 123 changing 125 157 creating time billing 124 definition of 124 deleting 125 exporting 245 importing 247 inactivating 125 Activities List window 124 Activity Information window 124 activity slips adjusting book value of work in progress 132 assigning payroll category to 127 changing 129 creating multiple 128 single 126 creating a slip to pay an employee 126 deleting 129 exporting 245 finding 129 importing 247 including in employees pay 111 126 multiple 128 reviewing 129 single 126 using timer to create 127 adjustments entering in 13th period 228 making at year-end 228 administrator account password, creating and editing 234 See also user accounts Aging Date window 91 Analysis menu (command centers) 13 Analyze Payables window 91 Analyze Payroll window 119 Analyze Receivables window 70 Analyze Sales window 70 arrows. See search icons; zoom arrows assets accounts for 18 recording depreciation 225 ATM, withdrawals 51 audit trail 214 auditing company file information 218 Auto-Build Information window 142 Auto-Build Items window 143 auto-building items in inventory 142 average cost 137

A ABA routing number 20 31 107 account classification 18 Account Information window 19 account levels 18 to track financial information 207 accountant, sending data to 228 Accounting 101 guide 9 accounting periods closing 226 locking 218 226 accounts adding 19 152 adjusting to reflect work in progress 132 budgets for 211 changing 155 changing account levels 18 classification for statement of cash flows 20 152 creating 19 152 deleting 157 detail 19 152 entering opening balances 20

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Index

B backing up company file 236 setting reminder for 238 Backorder List window 66 backorders creating letters 249 items purchased on 85 items sold on 63 85 backup file, restoring 238 bad debts, writing off 81 bank accounts adding 152 checking account for MDD and MVP 36 deposits 43 for electronic payments 36 reconciling at month-end 221 at year-end 221 out-of-balance amounts, correcting 222 undo 223 See also accounts bank deposits, preparing 43 Bank Register window finding a transaction using 169 Get Statement button 58 recording receipts in 41 recording transactions in 47 split button 48 bank service charges, recording 222 bank statements adding transactions from 59 importing 58 formats supported 58 reconciling 221 out-of-balance amounts, correcting 222 billing for time. See time billing billing rates, setting for activities 123 customers 123

employees 123 vendors 123 bills grouping MVP payments in the Electronic Clearing Account 95 paying 92 93 several at once 94 using the Bank Register window 47 using the Pay Bills window 45 payment notifications 92 pending MVP payments, processing 95 printing forms 197 receiving items without 87 recording 83 blank lines, inserting between line items 67 Budget Shortcuts window 212 budgets 211 allocating for jobs 211 choosing accounts to budget 211 half-yearly 213 monthly 213 quarterly 213 reports for 212 yearly 213 Build Items window 141 building items 141 business calendar 13 251 business contacts, maintaining list of 249 buying details, setting up default 24

cards active 156 changing 155 creating for customers 23 151 employees 29 105 personal 151 vendors 25 151 custom lists and fields 250 deleting 157 employee payroll information 105 exporting 245 finding 155 using advanced search filters 155 using search fields 155 importing 247 inactive 156 linking picture to 250 organizing in groups 249 personal 151 synchronizing cards and Outlook contacts 160 updating for MDD and MVP 37 CaseWare 246 exporting to 246 importing from 247 cash wages, creating a transaction to record 117 categories changing 155 creating 208 deleting 157 enabling allocation of 208 finding 155 setting up 208 tracking financial information, using 208 See also payroll categories chargeback 51 charging for time. See time billing chart of accounts. See accounts checking accounts. See bank accounts

checks custom 200 customizing 201 entering 47 printing 197 recurring 47 94 voiding 51 Checks & Forms guide 9 collection letters 249 columns, moving and resizing in reports 188 command centers 1113 Company Data Auditor 214 218221 company files auditing 218 backing up 236 checking for errors 218 239 desktop shortcut to 260 locking 241 optimizing 239 purging unwanted data from 240 restoring from backups 238 setting conversion month setting up 15 sharing on a network 253 255 limiting factors 241 unable to open 240 verifying 219 239 company-files folder. See network components, using to auto-build inventory items 141 contact log 249 Contact Log Entry window 249 contact reminder 249 contra accounts 80 contra payments 80 conversion month entering opening balances 21 Copy From button 134 cost of an inventory item average 137 last 137 standard 135

C calculator 14 currency 183 calendar 13 251 Card File command center 23 Card Information window 23 151 250

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Index

cost of sales, account for tracking 134 Count Inventory window 136 counting inventory 143 credit card customer paying by 41 grouping MMAS payments with undeposited funds 72 handling a chargeback 51 paying 53 using MMAS 54 printing MMAS receipt 73 purchases 52 recording purchases 52 voiding MMAS payments 57 See also MYOB Merchant Account Service (MMAS) credit card statement adding transactions from 59 matching transactions with 59 credit control credit holds 75 credit limits 74 credit terms 62 setting default 22 finance charges 76 Credit Limit & Hold window 74 Credit Limit Override Password window 75 credit limits password, changing 75 prevent recording sales if customer exceeds 75 setting 74 warn if customer exceeds 74 credit note 78 credit terms changing when recording a purchase 84 changing when recording sales 62 default 22 25 creditors. See accounts payable

credits. See customer credits Currencies List window 180 currency accounts 180 calculator 183 new 180 See also multiple currencies currency calculator 183 Currency Information window 180 custom fields recording card details using 250 recording item details using 150 custom forms adding graphics and logos 204 custom checks 201 data fields 203 drawing lines on 205 drawing rectangles on 205 elements 205 page properties, setting 201 previewing 202 printing 202 removing elements 204 205 resizing elements 206 saving 202 size of 201 tool palette 203 custom lists creating 250 filtering inventory reports with 150 grouping items with 149 printing on purchases and invoices 150 using in cards 250 custom price levels 148 assigning to a customer 149 customer credits deleting 171 issuing 77 recording 77 refunding by check 79 settling 78

customer payments 71 discount for early payment 72 group with undeposited funds 72 See also receiving payments customer statements emailing 225 printing 224 sending at month-end 224 customers assigning a price level to 149 billing rates for 123 cards creating 23 54 updating 54 credit holds 75 credit limits 74 credit terms 22 62 credits deleting 171 issuing 77 recording 77 refunding by check 79 settling 78 discounts for early payment 72 volume 63 entering credit card details 53 invoices entering 61 payments for 47 71 payment methods 22 payments from 47 71 quoting 61 terms 22 who are also vendors 80 See also MYOB Merchant Account Service (MMAS)

data fields adding to a form 203 changing font characteristics 204 changing size of 206 font characteristics 204 resizing 206 data file. See company files dates, entry with calendar 13 debtors. See accounts receivable Deduction Information window 103 deductions definition 28 100 linked account for 28 paying 118 payroll categories changing 103 creating 100 deleting 157 deposits recording 43 in the Bank Register window 47 saving as recurring 43 depreciation accounts for 226 recording 225 detail accounts 19 152 discounts early payment discounts giving 72 receiving 93 expiring alert 249 reversing customer payments with 173 volume discounts giving 63 receiving 85

D data exporting to other software 245 importing 247 limiting access to. See user accounts purging 240

E early payment discount 72 Easy Setup Assistant 15 Easy-Fill 16 Edit Accounts window 19 152

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Index

Edit Recurring Schedule window 174 eFile service 38 electronic clearing account grouping MVP payments in 95 processing pending MVP payments 95 setting up for MDD and MVP 37 electronic payments. See MYOB Direct Deposit (MDD), MYOB Merchant Account Service (MMAS) and MYOB Vendor Payments (MVP) emailing payment notifications 197 purchase forms 86 reports 189 sales forms 64 statements 225 employees accrual balances, viewing 119 activity slips, including in pay 111 analyzing payroll 120 bank details 31 37 107 billing rates, setting 123 bonuses 110 cards 29 105 151 cash payments 115 check payments 115 commissions 110 electronic payments changing bank details for current pay 114 hours worked, entering 112 pay details editing 111 viewing 112 pay history entering 31 107 viewing 119 paying 110117 payment method 31 107 payments, changing, deleting or reversing 114

payroll information analyzing 120 entering 105 viewing 119 payroll liabilities clearing 118 paying 118 reviewing 120 printing paychecks and sending payments 115 recurring pay, entering 107 removing from the Process Payroll assistant 110 resubmitting failed MDD payments 116 sales history for 71 setting up, in the Easy Setup Assistant 29 107 sick pay, recording 112 time billing information including in employee pays 107 111 vacation pay distributing 112 recording 112 See also MYOB Direct Deposit (MDD) Employer Expense Information window 103 employer expenses definition 28 100 linked account for 28 paying 118 payroll categories changing 101 creating 100 deleting 157 end-of-month. See month-end end-of-year. See year-end equity accounts 18 error, checking for in company file 218

Excel, viewing MYOB reports in 189 exchange accounts, tracking foreign transactions 180 exchange rates 182 expenses, accounts for 18 payroll category 103 expiring discounts alert 249 Export Data window 245 Export Summary Window 162 exporting data 245 to CaseWare 246 to Outlook 161 See also synchronizing cards and Outlook contacts

fiscal year budgets for 211 closing 227 starting 229 year-end tasks 227 fonts changing on forms 204 changing on reports 193 default 202 foreign currency adding a new currency 180 changing 155 deleting 157 See also multiple currencies foreign purchases. See multiple currencies foreign sales. See multiple currencies forms adding fields to 203 batch 197 customizing 200 emailing 197 faxing 197 finding 196 printing 197 freight charging customer for 64 paying vendors for 86

F faxing purchase forms 86 reports 189 sales 65 sales forms 65 file locking multi-user mode 241 single-user mode 241 finance charges calculating 76 charging 76 deleting 76 98 paying 94 using to track late-payment 98 financial year. See fiscal year Find Transactions menu (command centers) 13 Find Transactions window 168 finding records 155 transactions 168171 finished item 141 fiscal periods, locking 226

G general journal entries 228 exporting entries 245 to CaseWare 246 importing entries 247 from CaseWare 246 See also journal entries Getting Started guide 9 graphics adding to forms 204 changing size of on forms 206 See also pictures

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Index

H half-yearly budgets 213 header accounts 19 152 jobs 209 headers, using to group line items in transactions 67 87 help, reference resource 10 historical balances 20 purchases 26 sales 24 host computer setting up 254 system requirements 254 See also workstations How to Upgrade guide 9 HTML format, saving reports in 188

international transactions. See multiple currencies Internet banking 51 importing statements 58 inventory adjusting 138 auto-building items 142 average cost of an item 137 changing prices of 147 counting 143 custom fields 150 custom lists and reports 149 150 custom price levels 148 exporting adjustment transactions 245 importing adjustments 247 locations 139 making transfers 141 moving between locations 139 negative on-hand quantities 65 opening cost values, entering 136 opening quantity values, entering 136 quantity breaks 149 receiving items without a bill 87 reconciling at year-end 219 recording 143 stocktake, recording 143 See also items Inventory Count Sheet 136 144 inventory count sheets, printing 136 inventory transfers. See build items invoices blank lines, inserting 67 customizing form layout 200 emailing 197 entering 61 faxing 65 line items, entering 62 overdue invoices, list of 70 payments 71 printing 197 in a batch 197 printing custom lists on 150 recurring 65

subtotal, adding 67 time billing invoices 129 using headers to group line items on 67 Item Information window 134 250 items adding 134 adjusting quantities and values 138 asset account for tracking value of 134 auto-building 142 average cost 137 base selling price 137 building 141 counting 143 creating 134 custom lists to group 149 default location 136 default vendor number 135 deleting 157 expense account for tracking cost 134 exporting 245 finding 155 finished item, defined 141 I Buy this Item preference 134 I Inventory this Item preference 134 I Sell this Item preference 134 importing 247 last cost 137 linking picture to 250 locations 139 moving between locations 139 negative on-hand quantities 65 number per selling unit 136 opening quantities and values, entering 136 price levels changing 147 setting 147 setting custom 148 purchase history 92 146 receiving without a bill 87 sales history 71 146 setting up 134 standard cost 135

time billing invoices, including on 122 transfers 141 using custom fields for recording details of 150 Items List Summary report 137 items received, setting up accrual account for 88 Items Register window, finding transactions using 170

J jobs assigning to payroll categories 113 purchases 85 Receive Money transactions 43 sales 63 Spend Money transactions 46 budget allocation 211 budget amounts, entering 211 changing 155 creating 209 210 deleting 157 detail jobs 210 exporting 245 finding 155 header jobs 209 importing 247 job-tracking tasks 209 opening balances, entering 210 setting up 209 sub-jobs 209 using for tracking income and expenses 207 209 journal entries exporting 245 importing 247 recapping transactions for 46 64 recording 228

I Identifiers, using to group cards 249 Import and Export Options window 161 164 import file formats, for importing statements 58 import log file 248 Import Summary window 165 importing data from CaseWare 247 from Outlook 164 See also synchronizing cards and Outlook contacts from Quicken 248 importing statements file formats supported 58 Get Statement button 58 matching transactions 59 online banking 58 inactivating records not used frequently 156

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Index

L last cost of an item 137 layout customizing forms 200 purchases 84 sales 62 setting default 22 24 leave accruals sick 102 vacation 102 leave payments 112 letters, personalized 249 liabilities accounts for 18 payroll, paying 118 licenses, obtaining extra workstation seats 236 line items on transactions entering for purchases 85 entering for sales 62 inserting blank lines between 67 87 showing subtotal of 67 87 using headers to group 67 87 lines change the width on forms 205 drawing on forms 205 linked accounts bank accounts 17 electronic payment accounts 37 payroll accounts 28 purchase accounts 25 sales accounts 23 lists adding records to 151 deleting records from 157 inactivating records in 156 locations, inventory adding 139 changing 155 creating 139 default, changing 139 deleting 157 inactivating 156

moving items between 140 primary 139 lock files, problems 240 locking periods 226 logos adding to forms 204 changing size on forms 204 See also pictures

running the Company Data Auditor 218221 send customer statements 224 monthly budgets 213 mouse shortcuts 14 multiple currencies accounts for tracking foreign purchases 181 foreign sales 181 adding a new foreign currency 180 currency calculator 183 depositing foreign currencies 185 exchange accounts 180 exchange rates 182 I Deal in Multiple Currencies preference 180 reports 186 setting up 180 tracking realized currency gains or losses 184 transfer money to foreign accounts 185 multiple locations 139 multi-user mode company file sharing 253 file locking 241 improving performance 244 obtaining additional licenses 236 refreshing displayed data 243 See also network MVP. See MYOB Vendor Payments (MVP) MYOB Business Services (MBS) 34 activating 35 applying for 35 checking accounts, selecting 35 learning about 35 overview 35 registering 35 restrictions on 34 MYOB Direct Deposit (MDD) activating 36 applying for 35 approval status 116

M Mail Merge button 70 mailing labels, printing 197 mailouts 249 master password. See administrator account Match Transaction window 59 MBS. See MYOB Business Services (MBS) MDD. See MYOB Direct Deposit (MDD) merchant registration, applying for 35 Microsoft Outlook contacts. See synchronizing cards and Outlook contacts minimum stock levels 135 MMAS. See MYOB Merchant Account Service (MMAS) money See receiving money See spending money month-end 218 accuracy of records, checking 218 221 entering budgets 211 locking periods 226 paying payroll taxes 226 reconcile bank accounts 221 record depreciation 225 review reports 223

bank details changing 114 entering 31 36 107 checking account for electronic withdrawals 36 declined status 116 resubmitting failed payments 116 electronic withdrawals identifying checking account for 36 learning about 35 paying employees, using 116 registering 35 setting up 36 MYOB Merchant Account Service (MMAS) activating 36 applying for 35 credit card sales 53 54 learning about 35 printing credit card payment receipts 73 receiving payments 72 registering 35 voiding a credit card payment 57 MYOB Payroll Tax Forms registering 38 setting up 38 updating 39 MYOB Payroll Tax Forms service paying taxes using 226 W2 forms electronically filing at yearend 230 printing at year-end 230 MYOB Vendor Payments (MVP) activating 36 applying for 35 approval status 95 bank details, entering 36 checking account for electronic withdrawals 36 declined status 95 resubmitting failed payments 96

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Index

electronic payments grouping in the Electronic Clearing Account 95 processing 47 94 electronic withdrawals identifying checking account for 36 learning about 35 paying vendors, using 95 pending payments, processing 95 recording payments 47 94 registering 35 setting up 36 updating vendors cards for 37

O OfficeLink collection letters, creating 70 personalized letters, creating 249 online banking, importing statements 58 Online Error Notification window 116 resubmitting failed payments MDD 116 MVP 96 online help 10 opening balances accounts 20 customers 24 items 136 jobs 210 vendors 26 optimizing company files 239 orders 61 converting an order to a bill 90 several orders to bills at once 90 several orders to invoices 68 to a purchase order 69 to an invoice 68 purchase orders, entering 83 Outlook contacts. See synchronizing cards and Outlook contacts overdue invoices creating collection letters using OfficeLink 70 viewing list of 70 See also credit terms

Pay Employee window 112 pay history for employees, viewing 119 Pay History section 119 payables, analyzing 91 paychecks printing 115 197 See also payroll paying employees 110117 See also payroll payment method default customer 22 employee 31 107 payment notifications emailing 197 printing 197 payments electronic setting up MYOB Merchant Account Service (MMAS) using MYOB Merchant Account Service (MMAS) 53 exporting 245 importing 247 making 46 47 93 receiving 41 47 71 recurring 174 payroll accrual balances 119 activity slips including in employee pays 111 advice, printing 117 categories 100104 earnings, printing 117 employee information, entering 105 information 119 analyzing 120 liability payments 118 linked payment account cash wages 28 checks 28 electronic 28 pay history, reviewing 119

printing paychecks 115 processing pays 110117 removing employees from 110 reports 231 setting up 99 using the Payroll Easy Setup Assistant 27 setting up linked accounts 28 taxes 28 100 loading tax tables 27 timesheets changing details during pay run 111 excluding from a pay run 111 verifying details 112 payroll categories accrual creating 100 linked wages category 102 base hourly 28 adjusting 113 base salary 28 adjusting 113 calculated value 31 107 changing 101104 creating 28 100104 deleting 29 157 editing 104 finding 155 reviewing 28 Payroll Category List window 100 104 payroll checks. See paychecks Payroll Details tab 29 105 Payroll Easy Setup Assistant 27 31 payroll liabilities clearing 118 paying 118 electronically 118 using MYOB Payroll Tax Forms service 226 reconciling at month-end 220 reconciling at year-end 220 reviewing 120

N navigation shortcuts 12 network company file located in a shared folder 253 file locking multi-user mode 241 single-user mode 241 hardware required 254 how preferences work on 241 improving performance 244 shared company files accessing 259 factors affecting how they work 241 setting up 254 shared public folder setting up 255 257 258 storing custom reports on 243 system requirements 254 New Company File Assistant 18 New Time Billing window 130 new year starting a new fiscal year 229 starting new payroll year 231

P passwords. See administrator account, user accounts Pay Bills window 93 pay bills, sending payment notifications 94

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Index

Payroll Liabilities window 118 payroll taxes 27 paying using MYOB Payroll Tax Forms service 226 using Payroll liabilities window 118 payroll year starting new year 231 when to close 227 year-end tasks 230 PDF. See Portable Document Format (PDF) file pending purchases. See purchases pending sales. See orders periods closing 226 locking 218 226 personalized letters creating 249 printing 197 petty cash accounts, allocating expenses to 50 expenses, tracking 50 replenishing 50 pictures adding to cards 250 forms 204 items 250 changing size of on forms 206 removing 251 replacing 251 Portable Document Format (PDF) file saving purchases as 86 saving sales as 65 preferences Allow the sale of items with insufficient on hand quantities 65

Apply Customer Payments Automatically to Oldest Invoice First 79 how they work on a network 241 I Deal in Multiple Currencies 16 I Use Timesheets for ... and My Week Starts on ... 108 Prevent Data Changes During Report Generation 243 Prompt for Data Backup When Closing 238 Select and Display Account Name, Not Account Number 16 setting up 16 system-wide preferences 241 time billing 122 Transactions CANT be Changed; They Must be Reversed 173 Use Audit Trail Tracking 214 Use Easy-Fill When Selecting From a List 16 Use Expandable Data Entry Fields in Windows 16 Warn if Customer has an Outstanding Credit Before Applying Payment 74 Prepare Bank Deposit window 43 172 Prepare Budgets window 212 Prepare Electronic Payments window 95 116 price levels assigning to customer 149 creating custom 148 prices average cost of an item 137 last cost of an item 137 quantity breaks 149 setting 147 standard cost of an item 135 137 printing checks 47 80 94 end-of-year forms 230 forms 197

invoices 64 in a batch 198 purchases 86 in a batch 198 receipts 73 statements 190 224 problems, troubleshooting 10 Process Payments window 115 Process Payroll window 110 public folder. See network purchase payment notification 47 purchase activity, viewing 169 purchase forms emailing 86 faxing 86 purchase layout, setting up default 24 purchase orders 83 entering from sales window 84 purchases additional information about, entering 86 applying a vendor debit to an unpaid purchase 97 assigning job to 85 changing credit terms when recording 84 changing status of 90 choosing type of 84 creating a debit 96 credit card 52 credit terms, entering 25 84 customizing form layout 200 deleting 172 emailing purchase forms in a batch 197 individually 86 entering 83 exporting 245 from overseas vendors. See multiple currencies

grouping MVP payments in electronic clearing account 95 headers, adding 87 historical purchases, entering 26 history, viewing 92 importing 247 inserting blank lines in 87 layout 24 line items on, entering 85 linked accounts for 25 orders 83 paying 92 payment notifications 197 pending MVP payments, processing 95 printing 86 custom lists of 150 in a batch 197 printing purchase orders 197 purchase activity, viewing 169 quotes 83 receiving items without a bill 87 recording 83 86 in the Bank Register window 47 recurring 86 reports 92 reversing 96 reviewing purchase information 91 saving as a PDF file 86 sending 197 setting up purchase details 24 subtotals, adding 87 viewing list of unpaid purchases 91 145 See also MYOB Vendor Payments (MVP) Purchases Easy Setup Assistant 24 Purchases Register window finding transactions 169 viewing purchases 91 Purchases window 84 87 showing subtotal of line items 87 using headers to group line items 87 purging data 240

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Index

Q quantity breaks, inventory 149 quarterly budgets 213 Quicken, importing data from 248 quotes converting to a purchase order 69 to orders or bills 90 to orders or invoices 68 customer 61 vendor 83

recording in the Bank Register window 47 reconciled transactions, deleting 172 reconciling bank accounts 221 out-of-balance amounts, correcting 222 payables 219 receivables 219 Record Journal Entry window 228 adjustments, manual 228 records active 156 adding 151 using Easy-Add 153 changing 155 creating 151 deleting 157 172 inactivating or reactivating 156 rectangles, drawing on forms 205 recurring transactions accessing 175 automatic recording 175 changing 176 checks 47 94 copying an existing template 175 creating 174 deleting 177 deposits 43 duplicating 175 editing 176 finding 171 purchases 86 recording 174 multiple 177 reminders 175 rescheduling 176 responding to reminders for 178 sales 65 saving 174 scheduling 174 refreshing lists in a multi-user environment 243

refund check, receiving 98 refund payment 79 refunds. See customer credits; vendor debits registration. See activation of company files Reminders window 175 178 reports batches 190 changing 190 creating 190 deleting 191 printing 190 columns, moving and resizing 188 custom reports 194 storing on a network 243 customizing 191 designing 192 emailing 189 faxing 189 filtering information appearing on 191 printing 188 when several users active 243 purchase reports 92 reviewing at month-end 223 sales reports 70 sample 187 saving as comma-separated values (CSV) files 189 HTML files 188 PDF files 188 simple text files 189 tab-delimited values files 188 sending 189 using custom lists as filters 150 viewing in Microsoft Excel 189 Reports menu (command centers) 13 restoring a backup 236 returns. See customer credits; vendor debits

reversing transactions 173 voiding MMAS credit card payments 57 Review Sales Before Printing window 198 rounding time in time billing 122

S sales analyzing sales activity 70 assigning tax code to a sale 63 85 batch printing 197 changing status of 68 choosing type of 62 creating purchase order 64 deleting 172 emailing 64 in a batch 197 entering 54 61 exporting 245 faxing 65 historical sales, entering 24 history, viewing for item, customer or employee 71 importing 247 income account for tracking sales 134 insufficient on-hand item quantities 65 invoice 61 layout 62 default 22 linked accounts, setting up 23 MMAS credit card receipts 73 printing 64 in a batch 197 quote 61 recording in the Bank Register window 47 recurring 65 reports 70 reversing 77 reviewing information about 69 saving as a PDF file 65

R rates, setting time billing 123 realized gains and losses, tracking sales and purchases 184 transfers 184 recapping transactions 46 64 receipts, printing 73 receipts, printing MMAS credit card payments 73 Receive Money window 42 Receive Payments window 72 receiving money 41 47 cash payments 41 check payments 41 credit card payments 41 customer payments 71 definition of 41 exporting transactions 245 grouping with undeposited funds 42 72 importing transactions 247 invoice payments 71 receipts 73 receiving payments grouping with undeposited funds cash transactions 42 72 credit card 72 MMAS credit card 72 importing transactions 247

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Index

setting up sales details 22 to overseas customers. See multiple currencies viewing list of unpaid sales 70 voiding MMAS credit card payments 57 See also MYOB Merchant Account Service (MMAS) Sales command center 62 Sales Easy Setup Assistant 22 Sales Register window finding transactions using 168 viewing and editing sales in 168 Sales window 67 sample company, exploring the 11 search fields, using to find records 155 search icons 14 Select & Edit Paychecks window 111 select columns 14 Select Employees to Pay window 110 selling details, setting up default entries 22 Set Item Prices window 147 Settle Returns & Credits window 79 Settle Returns & Debits window 98 shared public folder accessing from workstations 259 setting up on host 255 258 shortcuts to the company file 260 Sign-on window 234 single-user mode file locking 241 when required 241 See also multi-user mode Spend Money window 46 spending money 45 93 bill payments 92 definition 45 electronic payments 95 exporting transactions 245

importing transactions 247 petty cash 50 sending payment notifications 47 split button 48 standard cost 135 statements 58 customizing 200 emailing 225 importing 47 58 printing 190 224 reconciling out-of-balance amounts, correcting 222 sending at month-end 224 stock re-order alert 249 stock. See inventory; items sub-jobs 209 210 subtotal, showing in transactions 67 87 suppliers. See vendors Synchronize Cards window 161 synchronizing cards and Outlook contacts export cards to Outlook contacts 161 import Outlook contacts to cards 163 including custom fields 160 162 when you use a PDA 161 162 system requirements host computer 254 network 254

creating 154 deleting 157 exporting 245 setting up 154 taxes change amount assigned to purchases 86 sales 64 paying using the Pay Liabilities window 118 telephone banking, transfers 51 terms of credit customers 22 vendors 25 text fields adding to forms 203 changing font characteristics of 204 changing size of on forms 206 description of 201 time billing activities creating 124 defining 124 deleting 157 finding 155 activity slips creating 126 including in employee pays 111 multiple 128 single 126 adjusting accounts to reflect work in progress 132 changing 155 entering a start time before current system time 127 including items on invoices 122 invoices 129 131 preferences 122 rounding time 122 setting billing rates for activities 123 timer 127128 resetting 128 using special billing units 122 work in progress 132

timesheets changing details during pay run 111 employee hours, entering 108 entering details 108 excluding from a pay run 111 including in a pay run 111 paying employees from 111 report 111 setting up 108 in the Easy Setup Assistant 31 time billing information, entering 108 unpaid hours clearing 109 deleting 109 reporting 111 To Do List making vendor payments from 91 94 setting up reminders 249 To Do List menu (command centers) 13 tool palette 201 203 Transaction Journal window 170 transactions adding from bank or credit card statement 59 changing 171 172 creating recurring 174 deleting 171 172 finding 13 168170 identifying user who entered 234 importing 247 from bank or credit card statement 59 Pay Bills transactions 247 matching during statement importing 59 recapping 46 64 recurring 175 reversing 173 types that can be imported 247 unchangeable 172 173

T tabs, using in lists 155 Tax Code Information window 154 tax codes assigning to purchases 25 85 sales 22 64 changing 155 171 consolidating 154

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MYOB Premier Accounting 2007 (v16)

Index

Transactions CANT be Changed; They Must be Reversed preference 173 transfer inventory. See building items Transfer Money window 49 transferring money 49 troubleshooting problems 10

V vendor debits creating 96 deleting 171 recording 96 refund checks 98 settling 97 vendor number, entering default for an item 135

purchases 83 quotes 83 recording order received from 83 resubmitting failed MVP payments 96 updating cards for MVP 37 who are also customers 80 See also MYOB Vendor Payments (MVP) verify company file 219 239 View Contact Log window 249 voiding a check 51 volume discounts giving 63 receiving 85

workstations accessing shared public folder from 259 extra licenses, obtaining 236 See also host computer, network

Y year fiscal 227 payroll 27 227 starting new fiscal year 229 starting new payroll year 231 year-end entering budgets 211 fiscal adjustments, entering 228 optimizing company file 229 providing information to your accountant 228 reconciling accounts 219 reconciling inventory 228 starting new year 229 tasks 227 payroll 1099 statements, printing for vendors 231 printing reports 231 printing tax forms 230 starting new year 231 tasks 230 W2 and W3 forms, printing 230 yearly budgets 213

U unchangeable transactions 172 173 uncleared transactions, matching 59 undeposited funds deleting transactions 157 172 grouping account transactions with 42 cash transactions with 72 payments 42 72 preparing bank deposit of 43 Undo Last Reconciliation window 223 unpaid invoices, sending reminders 249 Use Recurring button 177 user accounts creating 235 listing active users 241 managing 234 maximum licensed number reached 242 passwords 235 purpose of 234 restricting access to windows and functions 235 See also administrator account user IDs. See user accounts

vendors bank information for 37 billing rates, setting 123 bills entering 83 paying 92 payment notifications 92 cards, creating 25 credit terms, changing when recording a purchase 84 debits deleting 171 recording 96 refund checks 98 settling 97 discounts early payment 93 volume 85 entering discounts 93 grouping MVP payments in the Electronic Clearing Account 95 orders 83 paying 45 92 several bills at once 94 payment notifications 92 pending MVP payments, processing 95 purchase history, viewing 92

W W-2 forms, printing at year-end 230 wages cash wages, creating a transaction to record 117 definition 28 100 linked account for 28 payroll categories changing 101 creating 100 deleting 157 See also payroll, employees Wages Information window 101 withdrawals, ATM 51 work in progress adjusting accounts to reflect 132 tracking 132

Z zoom arrows 14

279

Index

MYOB Premier Accounting 2007 (v16)