Welcome to Bookkeeping

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

2. 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) Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable

3. MYOB Welcome Screen Click Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable

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

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

6. Personalize the Company Name Click Click Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable

7. Add Your Name Here Click Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable

8. The MYOB ScreenThe Command Centre Modules Activity Management Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable

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

10. View an InvoiceChange the invoice layout. Click Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable

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

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

13. The Item InvoiceExercise 2.1 Click Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable

14. ReportsImportant Points • Reports are used to: • Give financial information. • Check your work for accuracy. • Make error location easy. • Make error correction easy. Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable

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

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

17. An Adjustment NoteA Negative Invoice - Exercise 2.4 Minus Click Insert the details, click OK, then Cancel. Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable

18. Reduce the DebtSettle Returns & Debits - Exercise 2.4 Insert Click Click Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable

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

20. Paying a SupplierExercise 2.7 Always check the dates to pay the correct invoices. Insert Click Click Note Click Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable

21. A Purchase AllowanceImportant Points • A purchase allowance: • Reduces the cost of goods already purchased. • Reduces the value of inventory. • Reduces the GST component of the purchase. Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable

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

23. A Purchase AllowanceExercise 2.9 Minus Note Note Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable

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

25. The Payment with DiscountExercise 2.10 Insert Always check the date. Click Pay the correct invoice. Note Insert Click Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable

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

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

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

29. Change PreferencesExercise 2.11 Click Remove the tick from the fourth item. Click Click Sutherland - Bookkeeping: An integrated approach - MYOB v18 Accounts Payable