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Welcome to Bookkeeping This is your introduction to MYOB v19 Accounting.

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Presentation on theme: "Welcome to Bookkeeping This is your introduction to MYOB v19 Accounting."— Presentation transcript:

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2 Welcome to Bookkeeping This is your introduction to MYOB v19 Accounting.

3 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable2 Learning by Doing… §Computer accounting is learned by doing graded exercises. §Each exercise in this series is either slightly longer or slightly more complicated than the one before it. §You learn to use MYOB bit by bit. §Each start-up file is set in a particular time, so before starting MYOB you must set the computer date. (This is optional)

4 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable3 MYOB Welcome Screen Click

5 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable4 Opening the Data File (You don’t need a password) Click

6 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable5 The MYOB Screen The Top Menu Bar Setup the Company. Make changes to the accounts. Access Operating Preferences. Get On-screen Help. Exit MYOB. It is used to...

7 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable6 Personalize the Company Name Click

8 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable7 Add Your Name Here Click

9 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable8 The MYOB Screen The Command Centre Modules Activity Management

10 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable9 Recording a Purchase Important Points §A Purchase is obtaining goods for re-sale. §Purchases are obtained from Suppliers. §Amounts owed to these suppliers are called Accounts Payable. §Purchases are recorded on Invoices, so click Enter Purchases in the Command Centre.

11 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable10 View an Invoice Change the invoice layout. Click

12 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable11 The Invoice Types Used for different purposes. Used to record interest payable. Used to record things purchased. Used to record professional services. Used to record adjustments. (Change to an Item invoice and click OK)

13 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable12 The Purchases Item Invoice Procedure §Select the Supplier. §Insert date and invoice number details. §Insert the number of items received. §Select the item reference number. §Insert the price (per item OR the total). §Check the details are correct. §Click Record.

14 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable13 The Item Invoice Exercise 2.1 Click

15 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable14 Reports Important Points §Reports are used to: l Give financial information. l Check your work for accuracy. l Make error location easy. l Make error correction easy.

16 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable15 The Journal e.g. The first transaction Click here for details The Zoom Arrow A click on the Zoom Arrow will display the original invoice.

17 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable16 Returns Procedure §Record the return. l Create an adjustment note (a negative invoice) for the goods being returned. l Make sure the tax code still shows GST. l Check that the figures for the goods being returned and the GST all appear as negatives. §Reduce the debt. l Purchases Register. l Click Settle Returns & Debits. l Click Apply to Purchase. l Locate the invoice that recorded the original purchase. l Click Amount Applied then Record.

18 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable17 An Adjustment Note A Negative Invoice - Exercise 2.4 Insert the details, click OK, then Cancel. Minus Click

19 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable18 Reduce the Debt Settle Returns & Debits - Exercise 2.4 Insert Click

20 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable19 Payments to Suppliers Procedure §Click Pay Bills in the Purchases window of the Command Centre. §Select the supplier. §Insert the date and amount of the payment. §Apply the payment to the invoice (or invoices) being paid. §Record.

21 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable20 Paying a Supplier Exercise 2.7 Note Insert Click Always check the dates to pay the correct invoices.

22 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable21 A Purchase Allowance Important Points §A purchase allowance: l Reduces the cost of goods already purchased. l Reduces the value of inventory. l Reduces the GST component of the purchase.

23 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable22 A Purchase Allowance Procedure - Exercise 2.9 §Display a purchase invoice. §Change the Layout to Miscellaneous. §Insert supplier, date and reference. §Insert the reason for the reduction in price. §Use 1-1300 Inventory as the account. §Insert the allowance as a MINUS amount. §Record.

24 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable23 A Purchase Allowance Exercise 2.9 Note Minus

25 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable24 Receiving a Discount Important Points §A prompt payment discount reduces the cost of the goods purchased. §A reduced purchase price means less GST paid on the purchase. §When you record the payment with a discount MYOB automatically produces an adjustment note (called a debit memo) for the discount and the GST.

26 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable25 The Payment with Discount Exercise 2.10 Insert Click Note Click Always check the date. Pay the correct invoice. Insert

27 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable26 Cash Purchases Important Points §A Cash Purchase is an ordinary purchase that is paid for at the time of purchase. §Not all businesses allow you to buy on credit and pay later. §A one-off purchase does not warrant setting up a credit facility. §Some businesses offer good discounts for immediate payment.

28 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable27 Cash Purchases Procedure §If the purchase is NOT an inventory item, change to a Miscellaneous invoice. §Insert the date and cheque number. §Enter a description of the purchase. §Select 1-1300 (Inventory) as the account. §Click in the Paid Today field and insert the amount of the payment. §Record. MYOB will write the cheque.

29 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable28 Change Preferences Exercise 2.11 §If your screen does not display an Acct# column as seen in the MYOB User’s Guide, click… l Setup (top menu bar). l Preferences (from the menu). l Windows (tab at the top). l Select and Display… (the fourth item). l Remove the tick from the fourth item. Close.

30 Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable29 Change Preferences Exercise 2.11 Click Remove the tick from the fourth item. Click


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