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Myob AccountEdge 2005 Network Edition for Mac

1. If necessary enter the accrual hours carried over from a previous period in the Carry Over column next to the accrual category Click OK and then click Close 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 Go to the Payroll command center and click Analysis The Analyze Payroll window appears Reviewing payroll information 125 2 Enter the employee s name and the period you want to analyze Reviewing payroll liabilities e The Payroll Summary section at the left of the window shows The payroll liability reports show which payroll liability amounts totals for the selected pay period have been withheld from employee payments and which The Payroll Detail section appears on the right of the window amounts fave been paid Toran given pened shows the wages deductions tax accruals and employer e Payroll Liabilities by Category report lists payroll liability expenses that have been recorded for the selected pay period amounts that have been withheld e Liabilities Payment Register report iists payroll liability e0e Analyze Payroll Payroll summary Payroll Detail Amount amounts that have been paid Employee c gt Berringer Charles Base Hourly 2 097 76 gt 401K 6 125 87 Pay Period 3rd Quarter Z Advance Earned Inco 50 00 Gross Wages 2 097
2. A Enter the accounts that are affected by the transaction in the Acct column appears as Account if preference is set to account name B Enter the amounts by which you want to debit and credit the accounts in the Debit and Credit columns Cc The Out of Balance field must be zero before you can record the transaction D If you want to assign line items to specific jobs enter the job number in this column 4 Click Record to record the journal entry User Guide 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 248 Make sure you verify the company file as part of the backup process See Checking your company file for errors on page 251 Step 6 Start a new fiscal year If you have completed steps 1 5 you are now ready to start a new fiscal year Make sure that all transactions for the year that s 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 company s 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 t
3. preference 4 lf you use timesheets to record e time billing and payroll information select Time Billing and Payroll from the 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 4 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 e00 Enter Timesheet amp Week of Sep 24 Sep 30 2007 c gt a Employee Payroll MoT Ww T s S Total Category Activity Job Customer Notes 2425 a no a n W i Total Hours Help y Print 2 Inthe Employee field type or select the employee s name The employee s timesheet with any previously entered details for the period shown appears User Guide NOTE Gray values in the hours column A gray value in an hours column indicates hours paid If you are recording details for a week other than the current week select the required week e click the back arrow lt to select a previous week e click the forward arrow 2 to select a future week e click the calendar icon J to select a week from the calendar that appears Enter timesheet details in one of the following ways If you want to Do this
4. Account User Guide change of the current account number change of the account s opening balance addition of a new account deletion of an account 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 Auditing your records 225 Reviewing financial information There are several tools that you can use to review your financial information Tool Description See Analyze The Analyze Balance Sheet window below Balance Sheet provides details about your asset liability and equity accounts in both graphical and ledger views Analyze Profit The Analyze Profit amp Loss window provides below amp Loss detailed information about your Profit amp Loss accounts in both graphical and ledger views Analyze Jobs The Analyze Jobs window allows you to below view information about your progress on a particular job broken down by account Financial Financial reports help you review your below reports financial information 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 c
5. Equals 150 00 Dollars per Pay Period T 2 ele Help Employee Exempt New fore B 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 A 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 User Guide C Deduct
6. Review Later Review Now a Click Review Now The Conflict Resolver window expands to show the card conflict eoe Conflict Resolver There is 1 sync conflict involving Contacts Select the correct Contact information below 7 A One Video A One Video A One Video A One Video Primary street address work Primary street address work 32 South Road Toronto ON MSC 152 Canada 1of1 Done b Select the correct card and click Done c Repeat step b to resolve any other conflicts When you have resolved all conflicts the Save conflict choices window appears 178 Chapter 10 Lists d Click Sync Later The Synchronization Complete window appears CAUTION Do not click the Sync Now button Do not click Sync Now unless you want to view the list of card conflicts again e Click OK The Cards List window appears f Repeat the synchronization process from step 3 above When the synchronization is complete the Synchronization Complete message appears Click OK The Cards List window appears Click Synchronize to perform a standard synchronization Use Reset Sync under special circumstances as described in your documentation Synchronization complete WARNING I le and A up Y ig Up A lress Book Deleting cards Cards are not deleted during synchronization This protects the details recorded in your company file and in your Address Book If you want to delete a card you must man
7. 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 e if you want to select all the cards click the icon above the select column 0 e if you only want to select some cards click in the select column next to each required card 5 Click OK when you ve finished selecting from the list The Create Copy window reappears 190 Chapter 11 Transactions 6 Click Save If you Then selected One card 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 The Recurring Transactions List window lists all your card recurring transactions Each new transaction has a unique name the original name suffixed by the name of the relevant card 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 Click Close 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 Go to the Lists menu and choose Rec
8. enter the daily hours for each payroll category worked 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 e record time billing details depending on your selection in the Preferences window e type a description in the Notes field e assign a job number use the same details as the previous week Click Copy From Previous The employee s timesheet details for the previous week appear use the recurring details on the employee s card Click Use Recurring Pay Details The employee s weekly pay details are entered on the first day of your pay week If you want to enter a timesheet for another week repeat from step 3 on page 113 NOTE Removing timesheet entries You can remove unpaid entries on a timesheet at any time For more information see Delete timesheet entries on page 114 Timesheets 113 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 information in the Enter Activity Slip window or the Enter Timesheet window 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 To c
9. 2 Select Pay Bills from the Select Payment By list if it is not already selected 98 Chapter 5 Purchases 3 Type a date in the Date field to display unpaid checks up to and including that date Use the Journal Memo field to record the purpose of the transaction Select the payments you want to include in the electronic payment by marking the select column L 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 For each declined transaction verify the vendor s 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 If the transaction appears in the On
10. 5 Complete the sale For more information see Complete the sale To insert a subtotal on page 66 1 Inthe Sales window click in the line below the items to be subtotaled Adding and deleting transaction lines y 2 Go to the Edit menu and choose Insert Subtotal A line appears subtotals and headers in sales transactions displaying the subtotal of the amounts that appear above the You can add and delete transaction lines headers and subtotals in subtotal line and below the last subtotal if there is one sales transactions To insert a blank line owed iw 18 00 29 00 1 Inthe Sales window click in the line below where the blank line is to appear To delete a blank line line item header or subtotal 2 Go to the Edit menu and choose Insert Line ae 1 In the Sales window click anywhere in the blank line line item To insert a header header or subtotal you want to delete saver s F 2 Go to the Edit menu and choose Delete Line You can group several line items by inserting a header 1 Inthe Sales window click in the line below where the header is to appear 2 Goto the Edit menu and choose Insert Header A blank line will appear in the scrolling list with the cursor positioned in the Description column User Guide Recording sales with insufficient on hand item quantities 69 Changing the status of a sale The following sale types can be converted Sale type Can convert to See Quote e
11. you shouldn t 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 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 90 Chapter 5 Purchases To delete a blank line line item header or subtotal In the Purchases window click anywhere on the blank line line item header or subtotal you want to delete Go to the Edit menu and choose Delete Line 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
12. 11 Click Recurring Pay The employee s default pay details appear The default values are determined by the payroll categories selected and values entered from step 6 eoo Card Information Profile Card Details Payroll Details Payment Details Contact Log History Berringer Charles Personal Details Wages Accruals Deductions Employer Expenses E2 Pay Frequency Weekly Hours per Pay Frequency 40 Z Pay employee from activity slips Payroll Category Hours Amount Job Ta Overtime 1 5x o gt Base Salary 942 31 Federal Income Tax Pay History Federal Medicare Tax Federal Social Security Tax Time Billing California California Disability Insur EMPLOYER EXPENSES wa Print E Create New Payroll Category Reset to Original Amounts 7 New ey E Edit Schedule a If necessary change the employee s 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 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 User
13. Helo a 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 User Guide Auto building items 157 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 e00 Build Items Inventory Journal Number 1000017 Date 9 14 07 Memo Build 5 VK100 5 600 101G8 5 500 1010 item Number Quantity Location 10 gt VK1LOO 5 600 101G8 500 1013 8 491 Out of Balance 0 00 Category 2 FF Help Journal Register 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 Before you record an inventory count e Make sure you record all built items before counting your inventory
14. Payee F 78 Sunrise Highway Payment Date 10 1 07 Bellmore NY 11445 Pay Period Start 9 24 07 Pay Period Ending 9 30 07 Memo Paycheck Net Pay 660 33 Payroll Category Hours Account Amount Job Base Hourly 32 6 5110 Wages 538 46 Overtime 1 5x 2 6 5110 Wages 50 48 Sick Pay 0 6 5110 Wages Vacation Pay 8 6 5110 Wages 134 62 Base Salary 6 5110 Wages Bonus 6 5110 Wages 250 00 M C Already Printed Category g amp Help Journal Cancel 0K 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 g User Guide b In the Allocate Jobs window that appears click the select column C1 next to each applicable job and enter the amount in the Amount column f Allocate Jobs Select only Job Amount 1A Westmorland Project 0 00 Al4 Canterbury Heights 0 00 Acme Rentals Rentals to Acme 0 00 MGM 1 Phase 1 of MGM project 0 00 MGM 2 Phase 2 of MGM project 0 00 MGM 3 Phase 3 of MGM project 0 00 MKTG Marketing Department 0 00 Radisson Radisson Rental Jobs 0 00 Sales Dept Sales Dept 0 00 ZAZ Multimedia Buffalo System 0 00 Left to Allocate 538 46 P iNew A Cy Hel New a Cancel GOKU c Click OK The Pay Employee window reappears Click OK The Select
15. Select Electronic from the Payment Method list Enter the employee s bank account details Click OK to return to the Cards List window Repeat from step 2 for each employee you pay electronically 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 online help and choose Topics gt Reports and forms gt Working with payroll tax forms gt Registering to eFile payroll tax forms MYOB AccountEdge 2007 v7 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 29 To register Go to the Payroll command center and click Prepare Payroll Tax Forms The Select Payroll Tax Form window appears Click Register The Payroll Tax Forms Registration window appears Decide how you want to register e If you want to register by phone call the number on the window An MYOB representative will take your registration in
16. ee OO 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 MYOB AccountEdge 2007 v7 To respond to the Reminders window 1 In the Reminders window choose the required option Click IE Skip This Period You don t want to record the transaction this period The reminder is removed from the list Remind You don t want to record the transaction today but want Tomorrow to be reminded tomorrow Remind When You don t want to record the transaction today but want Due to be reminded when the transaction is next due Record 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 User Guide Recurring transactions 193 194 Chapter 11 Transactions MYOB AccountEdge 2007 v7 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
17. page 69 Entering sales 65 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 on c gt Dominico Frederick nt Final Sale Subtotal 200 00 Freight 0 00 Ship Via UPS 4 Tax 8 00 STE F Pr mised Date Total mount 208 00 ai a a lournal Memo Sale Buffalo Systems Paic Today 100 00 I eferral Source Payment tethod ash Detail Balar e Due 108 0 Invoice ielivery Status To be Elaailed A roe A Salesperson Enter optional information such as the name of the Comment salesperson a comment shipping method and the Ship Via promised date for delivery of goods or services Enter text or click the search icon to choose from the Promised Date Select From List window B Invoice Delivery If you want to print or email the invoice in a batch Status select the required delivery method from the list C JournalMemo The journal memo is generated automatically You can change this text if you want D Tax Click the zoom arrow gt gt if you want to view or change the tax amounts assigned to the sale E Freight Enter freight charges Select the option to the right of this field if tax is charged on the freight amount F Paid Today 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
18. 6 Select a pay history period from the Show Pay History for list Viewing an employee s accrual balances The Accruals section in the Payroll Details tab of an employee s 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 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 User Guide To view or edit an employee s accrual balances Go to the Card File command center and click Cards List The Cards List window appears Click the Employee tab and select the employee Click Edit The Card Information window appears Click the Payroll Details tab Click Accruals The Accruals section displays the total number of hours an employee is entitled to take as sick and vacation pay Personal Details Hire Date 1 1 01 Wages Termination Date Accruals gt Accrual Carry Over Year to Date Total Deductions v amp Carer leave 8 000 0 000 8 000 implore gt Compassionate leave 0 000 0 000 0 000 DERTTE 5 Sick Leave Accrual 4 000 0 000 4 000 Vacation Leave Accrual 0 000 0 000 0 000 Taxes Recurring Pay Pay History Time Billing
19. Click Layout and choose Item then click OK Chapter 4 Sales 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 e00 Sales New Item INVOICE i Customer lt gt Buffalo Systems a Terms Net 30 Ship to EF Buffalo systems Invoice 00000386 31 Upper Water Street River Edge NY 14758 Date 9 14 07 Customer PO Ship Backorder Item Number Description Location Price DiscX Total job Tax 10 200 101A5 Printhead Cradle model 45 00 450 00 Salesperson g Subtotal 450 00 Comment x Freight 0 00 Ship Via FedEx g 0 Tax o 50 00 ex 8 Promised Date Total Amount 450 00 Journal Memo Sale Buffalo Systems Paid Today 50 00 Referral Source Payment Method Check Details Invoice Delivery Status To be Printed Balance Due 15450 00 Save as Recurring Use Recurring ik Reimburse 2 Rate USD Category 5 lale lee Help Print Send Tq Journal Layout Register Cancel Record Click Record A customer credit appears in the Sales Register window Settling credit notes You can choose to settle a customer credit by e applying the credit to one or more of the customer s open invoices thereby reducing the amount the customer owes you e recording a refund payment for the amount of the customer credit To apply a customer credit to an open invoice Go to the Sales
20. Processing your payroll 115 Initially all timesheets are selected to be included in the pay Step 3 Select and edit paychecks period The Select amp Edit Paychecks window displays the recurring pay details and the timesheet amounts if applicable for employees Deselect timesheets to remove from payroll calculation Date Employee Pay Basis Weekly Hrs Timesheet Hrs who are paid according to the selected pay frequency v 9 24 07 Hopper Lynne Salary 40 00 e080 Process Payroll CD Payment date 10 1 07 SEAL i i Pay period start 9 24 07 a Display Unprocessed Timesheets Select eniplevees 06 Pay Be eave Select amp Edit Paychecks Click on to edit an employee s paycheck EYENie mieayiLe an a v Edit Paycheck Employee Check Hours Gross Pay Net Pay 1 To change view or exclude a timesheet 7 Hopper tyme Anos 4000 S134618 S8813 v Pearson Hannah Auto 0 00 615 38 464 96 v Shannon Samuel Auto 0 730 77 545 65 If you want to Do this exclude a timesheet Clear the select column __ next to it A A 3 employees selected Total Net Pay 1 891 64 change the timesheet Click the zoom arrow gt next to the g indow details of an employee employee s name and make the required Oae Heb for This win changes in the Enter Timesheets window aD en TD view the details of all Click Display Unprocessed Timesheets unprocessed timesheets 1 If you want to exclude an emplo
21. Set Up AccountEdge To bi repr of AccountEdge click the button below that Sal Purchases Payroll Close d Continue with Setting up preferences below Preference Description Use Easy Fill When Selecting From a List 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 Use Expandable Data Entry Fields in Windows If you enter long descriptions on invoices and bills you can view those descriptions in their entirety whenever the Description field is active Select and Display Account Name Not Account Number 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 Deal in Multiple Currencies 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 MYOB AccountEdge 2007 v7 Setting other preferences To view edit and set all preferences including those in the Easy Setup Assistant choose Preferences from the Setup menu eoe Preferences System Windows Reports amp Forms Banking Sales Purchases Inventory Security C Automatically Refresh Li
22. 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 today s date and looking at the customer s credit terms If you want to send a collection letter to customers with overdue payments a Select those customers by clicking in the select column I next to the customer s name 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 In any command center select Receivables from the Analysis list The Analyze Receivables window appears Click Filters and choose the time periods and any other criteria you want to apply Click OK The information you selected appears in the Analyze Receivables window 72 Chapter 4 Sales To analyze your sales activities The Analyze Sales window provides various illustrations as graphs or as lists of your sales activities In any command center select Sales from the Analysis list The Analyze Sales window appears Click Filters and choose the sales figures time periods and other criteria you want to apply Click OK The information you selected appears in the Analyze Sales window Select the display options in the Analyze Sales
23. You may check the data in your company file for errors now or A check it later by choosing Verify Company File from the File menu By creating custom forms and templates on the host and then Depending on the size of your company file the verification process may take a considerable amount of time copying them to workstations you can be sure that all Pla E eat 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 Help Cancel Continue CAUTION If the backup process does not work If any warning e Dont store backups on the same hard disk as the software or error messages appear at any stage of the backup process A single disaster can wipe out all your records contact MYOB Support e Make separate backups Sometimes disks fail in subtle ways 2 Choose the type of backup you want 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 e To back up your company file and templates click Backup all data over your previous backup you re stuck with it You will data not have a valid backup and will need to re create your e To back up your company file only click Backup Company File company file Multiple separate backups give you better only protection 3 Choose whether to check your company file for errors before e Store backups o
24. accounts can be assigned level 2 3 or 4 MYOB AccountEdge 2007 v7 You can review an account s details by clicking the zoom arrow gt next to the account As you review an account you can e change its type if it is an asset or liability account e change its number e change its name e give it a description e 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 you ll 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 259 To create a new account 1 Click New in the Accounts Easy Setup Assistant The Edit Accounts window appears e008 Edit Accounts er Account Name Opening Balance Budget o iff sits Help User Guide In the Profile tab specify whether the account is a header or detail account e 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 e 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
25. exporting 257 faxing 67 historical sales entering 26 history viewing for item customer or employee 73 importing 259 income account for tracking sales 149 insufficient on hand item quantities 67 invoice 63 layout 64 default 24 linked accounts setting up 25 MMAS credit card receipts 75 printing 66 in a batch 207 quote 63 recording in the Bank Register window 49 recurring 67 reports 72 reversing 79 reviewing information about 71 saving as a PDF file 67 setting up sales details 24 to overseas customers See multiple currencies viewing list of unpaid sales 72 voiding MMAS credit card payments 60 See also MYOB Merchant Account Service MMAS Sales command center 64 Sales Easy Setup Assistant 24 Sales Register window finding transactions using 182 viewing and editing sales in 182 Sales window 69 sample company exploring the 13 search fields using to find records 172 search icons 16 Select amp Edit Paychecks window 116 select columns 16 Select Employees to Pay window 115 selling details setting up default entries 24 Set Item Prices window 161 Settle Returns amp Credits window 81 Settle Returns amp Debits window 101 Index 287 shared public folder accessing from workstations Mac OS X 269 setting up Mac OS X shared account on host 267 setting up on host computer Mac OS X 268 Sign on window 246 single user mode file locking 253 when required 254 Spend Money window 48 spending money 4
26. s no need for you to use this feature User Guide 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 Item Number Location ID Quantity Unit Cost Amount Account Job Memo 100 Location1 2 0 00 0 00 6 1150 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 Item Number Location ID Quantity Unit Cost Amount Account Job Memo 100 Location1 0 0 00 120 00 6 4000 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 154 Multiple inventory locations 153 You can specify a d
27. vacation 106 leave payments 117 letters personalized 261 Index 283 liabilities accounts for 20 payroll paying 123 licenses obtaining extra workstation seats 248 line items on transactions entering for purchases 87 entering for sales 64 inserting blank lines between 69 89 showing subtotal of 69 89 using headers to group 69 89 lines change the width on forms 215 drawing on forms 215 linked accounts bank accounts 19 electronic payment accounts 39 payroll accounts 30 purchase accounts 27 sales accounts 25 lists adding records to 167 deleting records from 173 inactivating records in 173 locations inventory adding 154 changing 172 creating 153 default changing 154 deleting 174 inactivating 173 moving items between 154 primary 153 lock files problems 252 locking periods 239 logos adding to forms 214 changing size on forms 214 See also pictures 284 index Mac Address Book See synchronizing cards and Mac Address Book Mac OS X activating TCP IP protocol on 267 setting up as host computer 266 setting up shared user account 267 shared public folder accessing from workstations 269 setting up on host computer 268 Mail Merge button 72 mailing labels printing 207 mailouts 261 master password See administrator account Match Transaction window 61 merchant registration applying for 38 minimum stock levels 149 money See receiving money See spending money month end 230 accuracy of records checking
28. 0 00 Never Reconciled gt 2 1130 Visa 0 00 Never Reconciled Reconcile Accounts Help for this window j 5 Help for this window Close Back Next User Guide Month end procedures 231 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 Compare item values with the linked inventory account 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 Scan for future dated transactions The company file is checked for any transactions dated after the date of the current session that is the current dat
29. 49 000 00 Hourly Rate 523 5577 Accruals a Pay Frequency Weekly Deductions Hours in Weekly Pay Period 140 Employecexpensex Wages Expense Account c gt 6 5110 9 Wages Taxes Select all the relevant wage categories for this employee Recurring Pay Hourly Pay History Time Billing s Print E Create New Payroll Category yx A New Help New Cor ENTER ACCRUAL DEDUCTIONS AND EXPENSE INFORMATION Click Accruals and click in the select column L next to each required accrual category Click Deductions and click in the select column _ next to each required deduction category Click Employer Expenses and click in the select column C next to each required expense category MYOB AccountEdge 2007 v7 ENTER TAX INFORMATION b If necessary change the employee s default pay details by 7 Click Taxes and enter the employee s tax details overriding the values that appear in the Hours or Amount column next to a payroll category a Select the employee s tax level and marital status 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 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 paycheck Calculated values include tax amounts and accrual c Click in the select c
30. Category w 7 7 Help Journal Cancel Record Chapter 3 Banking W N To allocate expenses to the petty cash account Let s assume you spent 90 on stationery and 10 on postage from your petty cash account You would record this transaction in the following way Go to the Banking command center and click Spend Money In the Pay from Account field select the Petty cash account Enter the date and amount of the transaction 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 e008 Spend Money Pay from Account T 1140 O Group with Electronic Payments S Petty Cash Balance 100 00 Card Check T Payee E Date 9 14 07 Amount 50 00 Fifty and No 100 United States Dollars Memo Stationery and postage Widgets amp Co Acct Name 6 1060 Office 6 1050 Postag Job Memo Total Allocated 550 00 C Check Already Printed Total Paid 50 00 Payment Notification Delivery Status Out of Balance 0 00 To be Printed H I Save as Recurring 2 Currency USD Category w BI amp Help Print Journal Register Cancel Record o 5 Click Record MYOB AccountEdge 2007 v7 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
31. Detail e 4 2020 Parts Income Detail e 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 Setting up accounts You can set up your accounts using the Easy Setup Assistant see Setting up accounts on page 19 or in the Accounts command center see To add an account to your accounts list on page 168 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 Setting up categories Categories can be allocated to the following transaction types spend money e receive money e transfer money e general journal entries e sales e purchases e build items e inventory transfe
32. Otherwise a missing inventory item that was used to build another item will be accounted for as an expense such as 158 Chapter 9 Inventory 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 Click Record to update your inventory quantities and values loss or shrinkage For more information see Building items on page 155 e 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 NOTE 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 To record an inventory count Go to the Inventory command center and click Count Inventory If you have inventory at multiple locations filter the list as required Click Print to print the Inventory Count Sheet Manually count your inventory and note down the quantities on the Inventory Count Sheet MYOB AccountEdge 2007 v7 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 a
33. Records the sale or purchase of goods and services at the time they re paid for not when they re 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 company s name address tax information and information about your company s 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 MYOB AccountEdge 2007 v7 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 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 amp loss statement Cost of sales accounts appear after your income accounts but before your expense accounts Cost of
34. The Import File window appears Importingdata 259 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 Click Continue The Open window appears Locate and select the file you want to import and click Open The Import Data window appears Import Data First click an Import Field then click the matching AccountEdge Field Import Fields AccountEdge Fields Matching Import Field Account Number Account Number Account Name Account Name Header Header Balance Balance Account Type Account Type Last Check Number Last Check Number Currency Code Currency Code Exchange Account 2 Exchange Account Inactive Account E Inactive Account Required Field Must Have a Valid Matching Import Field A Conditional Field One or Both Fields Must Have a Valid Matching Import Field y Help y Match All Unmatch All Cancel Gimp 260 Appendix A Importing and exporting data 5 Match the import fields with the AccountEdge Fields column a Click the name of a field in the Import Fields column b Click the matching field in the AccountEdge 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 Click a field in the Matchi
35. 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 128 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 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 employee s timesheet 134 Chapter 7 Billing for time 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 employee s 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 112 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
36. click the select column next to the deposit For each uncleared deposit click the select column next to the withdrawal e008 Reconcile Accounts Account 1 1110 5 Checking Account New Statement Balance 21 000 00 Last Reconciled Date Calculated Statement Balance 21 000 00 Bank Statement Date 4 1 07 Out of Balance 0 00 Check All Cleared Transactions Deposits Withdrawals gt 1 4 1 07 Uncleared check No 1209 1 000 00 vol 4 1 07 Uncleared check No 1209 1 000 00 gt CR000001 4 1 07 Uncleared deposit made on 3 30 2007 500 00 v CR000001 4 1 07 Uncleared deposit made on 3 30 200 500 00 amp Bank Entry gt Get Statement Cleared 1 000 00 500 00 p 2 g wy a S Help Print Date D D When each uncleared transaction is selected 0 00 appears in the Out of Balance field MYOB AccountEdge 2007 v7 6 7 1 Click Reconcile A confirmation window appears If you want to print a reconciliation report click Print Report When the report is printed click Reconcile again 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
37. 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 enter the 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 it s 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 computer preferably 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 245 Managing user accounts If several people enter transactions into the same company file you can control which command centers windows and transactions they can access with us
38. the original purchaser a royalty free non transferable 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 acti vate 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 activat ing 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 activat ing 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 r
39. 00 Optional Account C Override Employees Wage Expense Account Non Cash Wages W Exclude from Net Pay Tips etc O Reported Tips Allocated Tips Other Non Cash Wages New Help Employee Exempt New oom 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 on page 106 for more information 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 employee s 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 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 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
40. 132 creating a slip to pay an employee 132 deleting 135 exporting 257 finding 135 importing 259 including in employee s pay 115 132 multiple 134 135 reviewing 135 single 132 using timer to create 133 Index adjustments entering in 13th period 240 making at year end 240 administrator account password creating and editing 246 See also user accounts Aging Date window 94 Analysis menu command centers 15 Analyze Payables window 94 Analyze Payroll window 124 Analyze Receivables window 72 Analyze Sales window 72 arrows See search icons zoom arrows assets accounts for 20 recording depreciation 238 ATM withdrawals 53 audit trail 224 auditing company file information 230 Auto Build Information window 156 Auto Build Items window 157 auto building items in inventory 156 average cost 152 backing up company file 248 setting reminder for 251 Backorder List window 68 279 backorders creating letters 261 items purchased on 87 items sold on 65 87 backup file restoring 250 bad debts writing off 83 bank accounts adding 168 checking account for MDD and MVP 39 deposits 45 for electronic payments 39 reconciling at month end 233 at year end 233 for the first time 34 out of balance amounts correcting 234 undo 235 bank deposits preparing 45 Bank Register window finding a transaction using 183 Get Statement button 60 recording receipts in 43 recording transactions in 49 split butto
41. 230 233 entering budgets 221 locking periods 239 paying payroll taxes 239 reconcile bank accounts 233 record depreciation 238 review reports 236 running the Company Data Auditor 230 233 send customer statements 237 monthly budgets 223 mouse shortcuts 16 multiple currencies accounts for tracking foreign purchases 141 foreign sales 141 adding a new foreign currency 140 currency calculator 143 depositing foreign currencies 146 exchange accounts 140 exchange rates 142 Deal in Multiple Currencies preference 140 reports 146 setting up 140 tracking realized currency gains or losses 144 transfer money to foreign accounts 145 multiple locations 153 multi user mode company file located in a shared public folder 265 file locking 253 improving performance 256 obtaining additional licenses 248 refreshing displayed data 256 MYOB Business Services MBS 37 activating 37 applying for 38 checking accounts selecting 38 learning about 37 overview 37 registering 38 restrictions on 37 MYOB Direct Deposit MDD activating 38 applying for 38 approval status 121 bank details changing 119 entering 34 39 112 checking account for electronic withdrawals 39 declined status 121 resubmitting failed payments 122 electronic withdrawals identifying checking account for 39 learning about 37 paying employees using 121 registering 38 setting up 38 MYOB Merchant Account Service MMAS activating 38 applying for 38 credi
42. 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 If you want to e automatically order or build items click the select column 1 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 e change the details of an order or auto build transaction click the Order or Build zoom arrow gt next to the item Complete the transaction in the window that appears 160 Chapter 9 Inventory 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 Go to the Inventory command center and click Analysis The Analyze Inventory window appears Display the required view of the Analyze Inventory window The Summary view displays all in
43. Authorization Code or Trace ID information found in the contact log Reverse the payment See Reversing a transaction on page 187 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 168 54 Chapter 3 Banking To record a credit card purchase in the Pay Bills window Go to the Purchases command center and click Pay Bills The Pay Bills window appears In the Pay from Account field type or select the credit card account you want to use Visa Balance amp 0 00 alll Pay from Account 2 1130 _ Group with Electronic Payments In the Vendor field type or select the vendor s name Type the purchase amount in the Amount field Change the memo and payment date if necessary
44. 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 To deal with a timed out authorization NOTE Is the Internet available You can deal only with timed out authorizations if you can connect to the Internet If you cannot connect try again later Access the Payments Gateway service by either e Clicking Login to Payments Gateway e Going to the Setup menu choosing Credit Card Processing and then Visit Payments Gateway User Guide 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 38 Use the service to generate a report of the day s credit card transactions Locate the transaction that has timed out and take the appropriate action based on the status of the transaction e If the transaction has not been processed you can either m reprocess the payment authorization see step 8 on page 57 m use another payment method s
45. Card File command center and click Cards List The Cards List window appears Locate a vendor you pay electronically and click Edit The Card Information window appears Click the Payment Details tab Enter the vendor s bank account details Click OK to return to the Cards List window Repeat from step 2 for each vendor you pay electronically 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 Chapter 2 Setting up your company file N A ww bh W 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 31 you can ignore this procedure Go to the Card File command center and click Cards List The Cards List window appears Locate an employee you pay electronically and click Edit The Card Information window appears Click the Payment Details tab
46. End of period procedures 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 252 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 114 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 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 won t 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 AccountEdge 2007 v7 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
47. Enter Sales The Sales window appears Type or select the customer you are creating a credit for Select the Invoice status from the drop down list in the top left corner of the window Click Layout and choose Miscellaneous then click OK In the Description column enter a description of the credit for your records Select the account to be credited This is normally an income account called Sales Returns and Allowances Creating customer credits 79 7 80 In the Amount field type the amount of the credit as a negative amount eoe Sales New Miscellaneous INVOICE E Customer Buffalo Systems a Terms gt Net 30 Invoice 000001 bae naar canna aa Te fei 1h ES gor sence 3001 Esler Retun amp Alowances G100 00 Salesperson S Sask on 0 Tax o gt 0 00 EXM I TO 100 00 e paid Today E TA S Payment Method Chee TR DE eee ETAT S Save as Recurring R Use Recurring ik Reimburse 2 Rate USD Category g amp 3 ts Heip L ea neater Ta D 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 Go to the Sales command center and click Enter Sales The Sales window appears Type or select the customer you are creating the credit for Select Invoice from the drop down list in the top left corner of the window
48. Finance Charge 0 00 Total Received 230 00 C Include Closed Sales Out of Balance 0 00 A B CID A Discount 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 won t 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 79 MYOB AccountEdge 2007 v7 B Amount Enter how much of the customer payment you want to Applied apply to each sale in this column C Finance If part of the payment is to pay finance charges enter the Charge finance charge amount here See Finance charges on page 78 for more information D Out of The amount you apply in the Amount Applied column Balance 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 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 e Bank Register e Receive Money e Receive Payments Sales New Invoice and New Order using Paid Today Settle Returns amp Debits Receive Refund view Receipts cannot be printed for e Reversed recei
49. For more information see Setting up MYOB Business Services on page 37 96 Chapter 5 Purchases To pay bills Go to the Purchases command center and click Pay Bills The Pay Bills window appears Specify how the payment is to be made e If you are paying the vendor using MYOB Vendor Payments click Group with Electronic Payments e If you are paying the vendor by some other means such as by cash check credit card or Internet banking type or select the account you are paying from in the Pay from Account field Enter the vendor s 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 100 Change the memo and payment date if necessary 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 Purchase status Date Amount Discount Total Owed Amount Applied 00000061 Open 7 9 07 5190 89 5190 89 00000081 Open 7 9 07 5136 50 5136 50 Total Applied 50 00 Include Closed Purchases Finance Charge 50 00 Check Already Printed Total Paid s000 ayment Notification Delivery Status To be Printed E Sale a eee 5 Pay All Q rate uso A B CID E A PayAll If you are settling your account in full click Pay All The tot
50. Get Statement For more information see Importing statements on page 60 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 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 234 Chapter 15 End of period procedures 7 Click Reconcile A window appears indicating whether your account is reconciled or out of balance e 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 don t want to print the report click Reconcile The transactions you marked are considered cleared and won t appear in the Reconcile Accounts window the next time you display it e 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
51. Guide 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 Click Advanced Filters in the Review Before Delivery window SELECT THE TRANSACTIONS In the top section of the Advanced Filters window select the forms you want to print or email We are using the example of a service type sale for all customers with outstanding payments Advanced Filters Selected Form for Sale Pre Printed Invoice M3147 7 Help y Print Alignment Form Customize Cancel O 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 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 Sending forms 209 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 Plain paper stationery Select plain paper stationery if you want to print on blank paper Lines columns
52. List window you need to set up your item details For more information see Auto building items on page 156 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 148 To build buy or backorder items in the Backorder List window Go to the Sales command center and click Enter Sales The Sales window appears Enter the details of the sale For more information see Entering sales on page 63 68 Chapter 4 Sales 3 Click Record If you have insufficient on hand quantities of an item the Backorder List window appears Backorder List You do not have enough of these items You may choose to 1 Auto build the items if you ve completed their auto build information 2 Buy them via a purchase order if you ve entered their primary vendors 3 Backorder the items Item Number Name Needed Build Buy Backorder 00 3 VKI Video Card Kit If you check Build or Buy AccountEdge will do that BEFORE creating a backorder invoice If you choose to backorder the original invoice will be recorded and an order with the backorder items will be created B 7 Help y Cancel Backorder This window lists items that are either out of stock or would be as a result of recording the sale Decide what you want to do To Do this Auto build 1 Click in the Build column next to the item you want to items
53. NUMBER In the Transaction section of the window specify how you want the transaction ID number to be created e If you want the transaction ID number to be one greater than the previous transaction ID click Use the next sequential number as the e 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 using the Recurring Transactions List window on page 185 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 Go to the Lists menu and choose Recurring Transactions The Recurring Transactions List window appears Recurring transactions 189 2 Select the recurring transaction you want to copy and click Create Copy The Create Copy window appears Create Copy Card ill Recurring Transaction Name Sale Carolina Industries Copy 7 Help is Cancel 3 In the Card field click the search button
54. Note that the Location field appears only if you have set up To record items received against an order multiple locations You can record items received against an order in the Purchases 7 Click Record The items are recorded in your inventory and the window or from the Purchases Register window original order is updated with the number of items received 1 Goto the Purchases command center and click Purchases When you receive the vendor s bill you need to convert the order Register The Purchases Register window appears to a bill For more information see To convert an order to a bill 2 Click the Orders tab on page 93 3 Find the required order and select it x 2 To create an order when you record items received 1 Goto the Purchases command center and click Enter Purchases The Purchases window appears NoTE 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 User Guide Receiving items without a bill 91 In the Vendor field type or select the vendor s name If the Item layout does not appear a Click Layout The Select Layout window appears b Select Item and then click OK Select Receive Item from the status list in the top left of the window e0e Purchases New Item ORDER wm Vendor gt Dewey Smith amp Jones S
55. Performing an initial bank reconciliation 34 Setting up MYOB Business Services 37 Setting up MYOB Payroll Tax Forms 40 3 Banking 43 Receiving money ee eee eee 43 Preparing a bank deposit 45 Spending money 02 eee ee eee 47 Entering transactions in the Bank Register window 49 Contents Transferring money between accounts Tracking petty cash expenses Recording miscellaneous transactions Credit card purchases and payments to credit card providers Credit card payments using the MYOB Merchant Account Service Importing statements 4 Sales Entering sales Recording sales with insufficient on hand item quantities Changing the status of a sale Reviewing your sales information Receiving payments Printing payment receipts Credit control Creating customer credits Dealing with a vendor who is also a customer Accounting for bad debts 5 Purchases 85 Reviewing and changing activity slips 135 Creating time billing invoices 136 Enteri MASS oie do eee hh a eee es 85 Pent oe Work in progress 0 e eee eee 138 Receiving items without a bill 90 Changing the status of a purchase 92 8 International transactions 139 Reviewing your purchases information ispis 2A Setting up multiple currencies 140 Pa
56. R ted Ti 9 Click OK E a e Allocated Tips 10 Click OK to return to the Payroll Category List window e Other Non Cash Wages User Guide Creating payroll categories 105 Accrual Information window eoo Accrual Information Accrual Name New Accrual A Accrual Information Type of Accrual User Entered Amount per Pay Period Equals 0 Percent of Federal Hours B Equals 0 000 Hours per Pay Period T C Print on Paycheck Stub C Payroll Year End C Carry Remaining Leave Over to Next Year Linked Wages Category The Accrual Balance will be reduced by any hours paid D Linked Wages Category 3 2 li Help Employee Exempt New 0K gt e 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 If you want
57. Ren 6 230 00 39 64 1 264 00 4 926 36 gt Sales Dept Sales Dept 0 00 0 00 4 730 00 4 730 00 j Training Jobs AV Trainging Jobs 22 912 05 1 811 06 1 615 00 19 485 99 gt 1A Westmorland Pre 4 554 05 1 302 31 315 00 2 936 74 gt Al4 Canterbury Heig 8 690 00 392 25 1 300 00 6 997 75 P Nev g Cu Help y Print New Close 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 Go to the Setup menu choose Balances and then Job Opening Balances The Job Opening Balances window appears 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 In the Opening Balances column type the opening balance for the job MYOB AccountEdge 2007 v7 4 Repeat from step 2 above for each job with an opening balance 5 Click OK when you have finished 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 progre
58. Short Name john BA admis Password Ay Local e Admit Verify s Mirja rd Stand Password Hint ry Geofi Optional a Admir wid H Po adm _ Allow user to administer this computer Steve Stand Cancel Create Account V Allow user to administer this computer fey Login Options ru FD Jii Click the lock to prevent further changes Name Type share Short Name Type share New Password Type a password of letters and digits Verify Repeat the password Password Hint Type a reminder phrase optional Allow user to administer this Clear if the user is not an computer administrator The Accounts control panel creates a user account called share The home folder of the new share user is located at Users share and contains a folder called Public that is Users share Public This Public folder is where you will place new company files so that they can be accessed by any workstation on the network 268 Appendix C Networking company files Log out and log in again as the new user share Go to the Users share folder click the Public folder then go to the Finder s File menu and choose Get Info In the Public Info window expand the Ownership amp Permissions section and set the Others drop down list to Read amp Write To share a Public folder on the Mac OS X host Log in as an administrator Launch the System Preferences application and click the Sharing icon In the Sharing control pa
59. Start Time Stop Time and Units fields 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 can t be used to add activity hours to a timesheet In the Multiple Activity Slips view you can t choose to include an activity s hours on a timesheet MYOB AccountEdge 2007 v7 To create multiple activity slips Go to the Time Billing command center and click Enter Activity Slip The Enter Activity Slip window appears Click the Multiple Activity Slips tab 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 Reviewing and changing activity slips If you want to review edit or delete an activity slip To review an activity slip Go to the Time Billing command center and click Activity Log The View Activity Log window appears Enter the name of the employee or vendor who performed the activity and if you k
60. Units field e the item number in the Activity field or press TAB and select the item from the list of items and activities that appears e the price of the item in the Rate field e optional the job number in the Job field e the appropriate tax code in the Tax field 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 Enter additional information about the sale such as the salesperson referral source and invoice delivery status 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 187 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 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 printing invoices see Sending forms on page 207 Note that the i
61. a backup file See To make a backup of your company file on page 249 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 Go to the File menu and choose Purge Click Continue and follow the instructions in the Purge wizard 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 1k keeps track of who is using the company file When you log out of the company file the lock file is deleted automatically 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 MYOB AccountEdge 2007 v7 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 255 Special considerations for networked company files When multiple users access a company file over a network
62. a tax type If you select Taxes from the Select Category Type list the New Tax and Delete Tax options are disabled 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 259 In the Build your employee list window you can also make changes to or delete cards Setting up payroll details 31 To create an employee card In the Build your employee list window click New The Card Information window appears Type the employee s last name and press TAB Enter contact details for the employee To enter payroll information Click the Payroll Details tab e080 Card Information Profile Card Details F Payroll Details Payment Details Contact Log History Berringer Charles E4 Personal Details gt Birth Date 7 1 69 Wages Calculated Age 37 Accruals Deductions Hire Date 1 15 04 Employer Expensex Termination Date Taxes Social Security 555 55 5050 Recurring Pay Residence Code N D E New Jersey Rate D Work Ni g r R jork Code NJ New Jersey Time Billing s Print E Create New Payroll Category 7 New H cy H
63. account you selected in step 4 in To activate MYOB Business Services on page 39 Click Edit The Edit Accounts window appears Click the Banking tab Enter your bank account details Copy this information as it appears on your bank statement or checkbook Click OK to return to the Accounts List window 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 doesn t 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 168 Before you can post transactions to the electronic clearing account you need to make this account the linked default account for electronic payments Go to the Setup menu choose Linked Accounts and then Accounts amp Banking Accounts The Accounts amp Banking Linked Accounts window appears Setting up MYOB Business Services 39 a ww bt WwW 40 In the Bank Account for Electronic Payments field type or select the Electronic Clearing Account Click OK Step 3 Record vendor bank information Go to the
64. activities associated with the private segment eg weddings reunions Help New a 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 User Guide 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 e organizing jobs in a hierarchy e setting budgets for each job e linking jobs to specific customers e assigni
65. amp Edit Paychecks window reappears You can also assign a default job to an employee in the Recurring Pay section of the employee s card For more information see To enter payroll information for an employee on page 110 To change an employee s bank account details If you pay your employees using MYOB Direct Deposit you can change an employee s bank account details for this pay run In the Select amp Edit Paychecks window click the zoom arrow gt next to the employee s name The Pay Employee window appears Click Banking Details and enter the required bank details in the Banking Details window that appears Click OK A confirmation message appears Processing your payroll 119 4 Ifyou want to update the employee s bank details for all subsequent pay runs click Yes 5 Click OK The Select amp Edit Paychecks window reappears For more information on entering an employee s banking details see To enter payroll information for an employee on page 110 Step 4 Record employee pays In the Select amp 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 185 1 Ifa confirmation window appe
66. an inactive record in transactions by manually entering the record name 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 an account You can delete an account if it meets the following criteria User Guide Locate the record you want to change in the list Use a search method described in Finding a record on page 172 if necessary Once you locate the record click the zoom arrow next to it The record details are displayed in the Information window Make the required changes and click OK To inactivate or reactivate a record 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 Locate the record you want to inactivate or reactivate and click the zoom arrow gt next to it The record s details appear For cards accounts and items select the Profile tab Mark or clear the Inactive checkbox e the account isn t a level 1 account e the account has a zero balance e no journal entries used the account e none of your recurring templates used the account e the account isn t used as a linked account for any transac
67. an item is not listed it means that you haven t selected the I Sell This Item option on the Profile tab of the Item Information window 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 Click OK To update the prices of multiple items at once You can update the prices of multiple items at once using pricing shortcuts Go to the Inventory command center and click Set Item Prices The Set Item Prices window appears Click the select column next to the items that require a price update Setting item prices 161 3 Click Shortcuts The Pricing Shortcuts window appears Pricing Shortcuts Round Prices To Nearest I Use Calculated Price gt Make Price a Multiple of D Make Price End in Percent Margin D Percent Markup D Gross Profit Basis for Calculation Average Cost 4 Help y Update All Items Cancel Update v Items Only Customizing inventory Your MYOB accounting software provides a number of inventory customization features e 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
68. an order to a bill on page 93 Find the required quote and select it If you want to convert the quote to e an order click Change to Order The Purchases window appears e a bill click Change to Bill The Purchases window appears If you want to you can update the information in this window such as changing the transaction date MYOB AccountEdge 2007 v7 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 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 Go to the Purchases command center and click Purchases Register The Purchases Register window appears Click the Orders tab Find the required order and select it Click Change to Bill The Purchases window appears displaying the bill If you want to you can update the information in this window such as changing the transaction date Click Record A new bill is created and the original order is removed User Guide To simultaneously convert several orders to bills Click To Do List from any command center The To Do List window appears Click the Orders tab to disp
69. and enter the wage information for this employee a Select the employee s pay basis 110 Chapter 6 Paying your employees 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 employee s annual salary amount or hourly wage rate c Select the employee s pay frequency in the Pay Frequency field d In the Hours in Pay Period field type the number of hours in the employee s normal pay period e If the employee s 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 C1 next to each wage category that applies to the employee eoe Card Information Profile Card Details Payroll Details Payment Details Contact Log History Berringer Charles E2 Personal Details Pay Basis Salary Wages gt Annual Salary 549 000 00 Hourly Rate 23 5577 Accruals pt Pay Frequency Weekly a Deductions Hours in Weekly Pay Period 40 Enpo eassa Wages Expense Account c gt 6 5110 Wages Taxes Select all the relevant wage categories for this employee Time Billing s Print MYOB AccountEdge 2007
70. 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 i through the Purchases Easy Setup Assistant s entering the required information in the appropriate windows Purchases 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 cards but you can change the purchase layout for a vendor at any time either on a vendor s 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 User Guide 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 S
71. appears Mark the I Deal in Multiple Currencies checkbox in the System tab A window appears to explain the effect of selecting this option 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 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 140 Chapter 8 International transactions Go to the Lists menu and choose Currencies The Currencies List window appears Click New The Currency Information window appears 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 Click OK Step 3 Create accounts to track foreign currency transactions In order to correctly track transaction
72. arrow gt next to the employee s name The Pay Employee window appears f e00 Pay Employee Pay from Account 1 1120 Balance o 5 277 92 Payment Method Check Payroll Checking Account 7 Employee gt Hopper Lynne Check Auto Click OK The Select amp Edit Paychecks window reappears Repeat from step 1 for each employee whose hours you want to change To record vacation and sick pay NOTE Vacation and sick pay hours recorded on a timesheet If you ve entered vacation and sick hours on a timesheet you don t need to follow this procedure In the Select amp Edit Paychecks window click the zoom arrow gt next to the employee s name The Pay Employee window appears fe 0e Pay Employee Pay from Account 1 1120 Payroll Checking Account Balance 5 277 92 Payment Method Check E3 Employee gt Hopper Lynne Check Auto a Payment Date 10 1 07 Pay Period Start 9 24 07 Pay Period Ending 9 30 07 Payee f 78 Sunrise Highway Bellmore NY 11448 Memo Paycheck Net Pay 660 33 Payee I Bellmore NY 1 Memo Paycheck 78 Sunrise Highway 1448 Payment Date 10 1 07 Pay Period Start 9 24 07 Pay Period Ending 9 30 07 Net Pay 660 33 2 Change the hours worked for the applicable wage categories and Payroll Category Hours Account Amount Job Base Hourly 32 6 5110 Wages 538 46 0 Overtime 1 5x 2 6 5110 Wa
73. associated with purchasing this item 7 Click the Buying Details tab The Buying Details view of the Item Information window appears Complete the fields as explained Enter the restocking information e 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 e Enter the vendor from whom you usually re stock this item e Enter the vendor s number for the item e 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 tab in the To Do List The default order quantity is taken from this field below 50 Tem information Prone jener Detats AAAI Selig Details History Auno Bulld Locations 100 widgets A Last Purchase Price 0 00 B N Standard Cost 40 00 1 ___ paying unit of Measure each Cu Pay Sales Tax When 1 Buy This tem C 74 Number of Items per Buying Unit T Optional Restocking Information for the To Do List 4 minimum Level for Restocking Alere 7 Primary Vendor for Reorders 3 D e Default Reorder Quant 5 Help New a 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 Pre
74. auto build and then click Build The Auto Build Items window appears 2 Click Build Items The Build Items window appears 3 Click Record to build the finished item Record a bill 1 Click in the Buy column next to the item you want to purchase and then click Buy The Enter Purchases window appears 2 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 85 Record a 1 Click in the Backorder column next to the item you want sales order to place on backorder 2 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 MYOB AccountEdge 2007 v7 NOTE Multiple items with insufficient quantities You can use 3 Type the text for the header The text appears in gray 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 ertiized fruit trees a 20 00 Mov lawn 4 18 00 Mor Trimmed hedges 4 29 00 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 4 Press TAB to complete the header entry again to complete the backorder
75. be out of balance To correct the unreconciled amount follow the procedure below To correct an unreconciled amount Check the following e 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 e 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 e 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 MYOB AccountEdge 2007 v7 e Did you select by mistake a transaction that didn t appear on your bank statement If so you need to deselect this transaction e 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 Repeat the reconciliation procedure If your account is still out of balance then you may have deleted a transaction that has been reconciled previously NOTE 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 transactio
76. can print email or fax reports output them to various file formats or export them to other software for further modifications 195 Quick start Go to the Reports menu and choose Index to Reports The Index to Reports window appears e0e Index to Reports Recounts Banking Sales Time Billing Purchases Payroll Inventory Card File Custom Name A listing of all accounts and their balances Accounts Accounts List Summary 0 Accounts List Detail Account Transactions Account History OfficeLink Balance Sheet Standard Balance Sheet Multi Period Spreadsheet Multi Period Budget Spreadsheet Last Year Analysis Budget Analysis Profit amp Loss Standard Profit amp Loss f View Sample i Customize 4 wg e Help Print Send Ta Toe FPA A Click a tab to view the reports associated with that tab Click the Custom tab to view your custom reports Producing reports Once you have chosen a report and have customized it you re ready to see the finished product See e To display and print reports below e To save reports as files page 197 e To send reports by email page 197 196 Chapter 12 Printing and customizing reports B Highlight a report and click View Sample to display a sample of that report 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
77. 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 employee s 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 127 Setting time billing preferences There are four preferences that should be set before you start billing for time Preference Description 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 tim
78. check 53 volume discounts giving 65 receiving 87 w W 2 forms printing at year end 242 wages cash wages creating a transaction to record 122 definition 31 104 linked account for 30 payroll categories changing 105 creating 104 deleting 173 See also payroll employees Wages Information window 105 withdrawals ATM 53 work in progress adjusting accounts to reflect 138 tracking 138 workstations accessing shared public folder from Mac OS X 269 activating TCP IP protocol on Mac OS X 267 extra licenses obtaining 248 See also host computer network Y year fiscal 239 payroll 29 239 starting new fiscal year 241 starting new payroll year 244 year end entering budgets 221 fiscal adjustments entering 240 optimizing company file 242 providing information to your accountant 240 reconciling accounts 232 reconciling inventory 240 starting new year 241 tasks 239 payroll 1099 statements printing for vendors 243 printing reports 243 printing tax forms 242 starting new year 244 tasks 242 W2 and W3 forms printing 242 yearly budgets 223 Z zoom arrows 16 Index 289
79. command center and click Sales Register The Sales Register window appears Click the Returns amp Credits tab A list of customer credits appears MYOB AccountEdge 2007 v7 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 customer s name in the adjacent field A list of credits for that customer appears Select the credit you want to apply and click Apply to Sale The Settle Returns amp Credits window appears listing all open invoices assigned to the customer Enter the amounts you want to apply to one or more open invoices in the Amount Applied column KaKa Settle Returns amp Credits Customer Kwinter Gourmet Shops ID KWS001 Credit Amount 350 00 Date 9 14 07 Memo Kwinter Gourmet Shops Credit from 00000040 Invoice Status Date Amount Discount Total Due 30000075 Open 7 13 07 26 50 26 50 0 30000083 Open 8 1 07 1 800 00 1 800 00 30000098 gt Open 1 300 00 1 300 00 40000009 Open 717 07 1 500 00 1 500 00 40000031 Open 7 7 07 1 500 00 1 500 00 Total Applied 350 00 Finance Charge 350 00 Credit Amount 350 00 Out of Balance 0 00 Amount Applied C Include Closed Sales C Rate USD 7 7 Help Journal Cancel Record If the Apply Customer Payments Automatically to Oldest Invoice First preference is set amounts will appear next to the oldest invoices in
80. customer gave you as a deposit G Payment Type or select the payment method Click Details if you Method 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 H Tax Code Select the tax code for this purchase 66 Chapter 4 Sales MYOB Merchant Account Service 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 56 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 Step 5 Complete the sale After you have finished entering the details in the Sales window there are several ways to complete the transaction e Record the sale To record the sale without printing it click Record for a sales quote click Save Quote e 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
81. details in the Applied Payment Details window that appears 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 56 Type the date of the transaction Optional Type a detailed comment in the Memo field to help you identify the transaction later MYOB AccountEdge 2007 v7 10 Allocate the amount to the appropriate account or distribute it to a number of accounts A B Acct Name Amount 15 000 00 Cc D Memo 3 1110 Partner A Investment A 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 Cc Optional Assign the amount to a job by entering the job code here D Optional Type a memo for each line item you enter in the transaction 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
82. enables you to compare the year s monthly account balances with those of the corresponding months in the previous year 12 If you want to set up a budget for example for an income or expense detail account click Budgets and complete the fields in the Prepare Budgets window that appears For more information on budgets see Budgets on page 221 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 MYOB AccountEdge 2007 v7 Enter your account opening balances Unless you are just starting a new business most of your accounts probably already have balances For example you ve made sales paid bills deposited money in your business s bank account and conducted a variety of other business activities that affect your account balances In this step you will enter those balances 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 e 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 e If your conversion month
83. file simultaneously and you want to print or view a report we recommend that you prevent data changes during report generation If you don t 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 it s 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 User Guide 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 won t be forced to wait for the report to be generated befo
84. invoice on which it was billed has been deleted or purged e an activity provided that all the activity slips you ve recorded for it have been purged e a foreign currency record that has not been linked to a card To delete other records 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 Locate the record you want to delete and click the zoom arrow next to it The record details appear in the Information window Go to the Edit menu and choose Delete For example if you want to delete a customer card choose Delete Card NOTE Historical reports When you view historical reports from the previous fiscal year for instance the previous fiscal year s balance sheet the primary account is listed showing the combined account balance Combining Cards You can combine e customer cards e vendor cards e personal cards MYOB AccountEdge 2007 v7 You cannot combine e cards with a different type e cards with different currencies e cards if the primary card is inactive When cards are combined the non transaction card information for the primary card such as card name address and buying and selling details is retained as the default information for the combined card The transaction details for the secondary card are added to the primary card Non transaction information for t
85. 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 transaction depending 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 e store details of transactions you record regularly e set up due dates for payment of obligations such as rent and utilities e 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 181 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 To find See Find Transact
86. 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 7 Click OK The Card Information window reappears menu click the Sales tab and then click Set Override 6 Select the Place this customer on Credit Hold option 8 Click OK to return to the Cards List window 7 Click OK to close the Preferences window NOTE Recording sales to customers on credit hold To record a sale to a customer on credit hold you need to remove the credit Credit holds hold To do this deselect the Place this customer on Credit Hold You can place a credit hold on a customer s account to prevent sate mothe Credit Elm ane Hold window onthe customers card further sales being made to the customer For example you may want to place a customer on credit hold when the customer s account is overdue User Guide Credit control 77 Finance charges Finance charges are amounts added to an outstanding balance as a penalty for late payment A finance charge is added to a custo
87. more information see Audit trail tracking system on page 224 Profit amp Loss Statement Shows your profit and loss figures Balance Sheet Reviews your financial position as of the end of a period Summary Trial Balance Identifies incorrectly entered amounts When reviewing this report check for e entries that seem unusually high or low for the account that has been affected e debit amounts for accounts that normally have credit entries and vice versa e unusually high or low ending balances e an unusually high or low number of entries for a specific account Balance Sheet Budget Analysis Lists account balances as of the end of a selected period along with the budgeted amounts If you ve determined that changes need to be made to the budgets for the coming months you can adjust your budget Profit amp Loss Budget Analysis Lists account balances for a selected period along with the budgeted amounts If you ve determined that changes need to be made to the budgets for the coming months you can adjust your budget Statement of Cash Flow User Guide 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 For information on displaying customizing and printing reports see Chapter 12 Printing and customizing reports starting on page 195 Reviewing finan
88. 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 employee s accrued leave balance is reduced by the hours taken 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 e An employee has an accrual of 20 days vacation leave a year and works an 8 hour day 8 x 5 40 work hours per week 20 x 8 160 hours of vacation leave 160 40 x 52 7 6923 MYOB AccountEdge 2007 v7 e An employee has an accrual of 20 days vacation leave a year and works a 7 6 hour day 7 6 x 5 38 work hours per week 20 x 7 6 152 hours of vacation leave 152 38 x 52 7 6923 Sick leave accrual e An employee has an accrual of 6 days sick leave a year and works an 8 hour day 8 x 5 40 work hours per week 6 x 8 48 hours of sick leave 48 40 x 52 2 31 Deduction Information window 00o Deduction Information A Deduction Name New Deduction Linked Payable Account 12 1410 13 Default Payroll Withholding Deduction Information Type of Deduction User Entered Amount per Pay Period Equals 0 Percent of Gross Wages 5 c Equals 150 00 Dollars per Pay Period Deduction Limit No Limit D Equals 0 Percent of Gross Wages
89. on page 108 Click OK Type the employee s last name and press TAB Type the employee s first name and their contact details If you want to enter payroll information continue with step 4 in To enter payroll information for an employee on page 110 Click OK and then click Close to exit the Cards List window Creating employee cards 109 Entering employee payroll information Once you have created payroll categories see page 104 and an employee card see page 109 you can enter the employee s payroll information To enter payroll information for an employee Go to the Card File command center and click Cards List The Cards List window appears Click the Employee tab and select an employee Click Edit The Card Information window appears Click the Payroll Details tab 00 Card Information Profile Card Details Payroll Details Payment Details Contact Log History Dominico Frederick E2 Personal Details gt Birth Date 6 1 62 Wages Calculated Age 42 Accruals Deductions Hire Date 1 10 04 Employer Expenses Termination Date Taxes Social Security 222 20 2020 Recurring Pay Residence Code Nj 8 New Jersey Rate 8 Work Code NI Pay RSC 5 New Jersey Time Billing s Print E Create New Payroll Category p pe Help y New oo Enter the employee s personal details social security number and their residence and work codes ENTER WAGE INFORMATION Click Wages
90. or text file or to open the report in Microsoft Excel E Click Customize to choose the information you want to appear on the selected report and how you want that information to appear F Read a short description of the report you have selected here G Click Display to view an on screen version of the selected report e To send reports by fax page 198 e To view reports in Microsoft Excel page 198 To display and print reports Go to the Reports menu and choose Index to Reports The Index to Reports window appears MYOB AccountEdge 2007 v7 Select the report you want to display or print and click Display The Report Display window appears 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 column s width Only columns that have this icon can be resized 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 200 Select Print Preview from the View list in the report toolbar If you want to save the new report layout as a custom report click Save As This new format
91. order To convert a quote to an order or e invoice invoice below To convert a quote or an order to a purchase order on page 71 e purchase order Order e invoice To convert an order to an invoice on e purchase order page 70 To convert a quote or an order to a purchase order on page 71 Invoice The status of an invoice cannot be changed If you want to convert several orders simultaneously see To simultaneously convert several orders to invoices on page 70 To convert a quote to an order or invoice Go to the Sales command center and click Sales Register The Sales Register window appears Click the Quotes tab and select the quote you want to convert e If you want to convert the quote to an order click Change to Order e 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 Make any changes you want to make in the window For example you may want to change the transaction date to today s date 4 Click Record The new order or invoice is created 70 Chapter 4 Sales 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 Go to the Sales command center and click Sales Register The Sales Register
92. page 168 Before you can allocate transactions to this account you need to make it the default linked account for items received without a vendor bill MYOB AccountEdge 2007 v7 To link an account for items received 4 Click Receive Items The Purchases window appears with the Receive Item status 1 Go to the Setup menu choose Linked Accounts and then Purchases Accounts The Purchases Linked Accounts window e008 Purchases New Rem RECEIVE ITEMS appears vendor ori a s Tems gt 2x5 ner 30 Shipto E Magers t co Purchase 00000133 2 Select the I can receive items without a Vendor bill option ace atte gt 100 101A5 Printer Cable Generic Warehouse 9 09 3 Inthe Liability Account for Item Receipts field that appears type or select the inventory accrual account conse lt aine 8 Ship Via 0 Tax gt 0 00 EXM F 4 Click OK Journal Memo Purchase Border Digal Paid Today 50 00 Rate USD Category z e e e e e Recording items received without a bill ll G Help Layout Register oe You need to record items received against a vendor purchase order If the order already exists you can record the items 5 In the Receive field type the item quantity received received against the order If no order exists you can create one when you record the items received 6 Ifyou keep items at multiple locations type the location where you received the items in the Location field or select it from the list
93. payroll liability amounts you want to include with this payment The total of the selected liabilities appears in the Total Payment field Click Record Payroll liabilities 123 Reviewing payroll information Your MYOB accounting software contains a number of tools that help you manage your payroll information Tool Description See Pay history View an employee s pay history below Accrual balance View an employee s accrual balance page 125 Analyze Payroll Use the Analyze Payroll window to viewa page 125 window summary of an employee s payroll data It can help you detect possible inaccuracies in the amounts you re paying to and deducting from your employees Review payroll Use payroll liability reports to view payroll page 126 liabilities details Find Transactions Use the Find Transactions window to search page 166 window for an account card or payroll category Viewing pay history Every time you process an employee s pay the amounts from that payment are recorded in the employee s pay history The Pay History section of an employee s card is used to enter the employee s pay history when you are setting up payroll and later to review their pay history 124 Chapter 6 Paying your employees If you ve paid an employee the wrong amount don t attempt to correct it by adjusting their pay history Altering an employee s pay history does not affect the original pay record or the amounts poste
94. print checks on customized forms type the number of the first check in the Check of First Check in Printer field MYOB AccountEdge 2007 v7 Specify how many copies you want to print in the Print Copies of Each Selected Check field 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 209 Click in the select column L1 next to the paychecks you want to be printed If necessary click the zoom arrow gt to view more information about a particular paycheck Click Print The Print window appears Click Print or OK to print the checks The Process Payments window reappears To process a direct deposit using MYOB Direct Deposit Click Prepare Electronic Payments The Prepare Electronic Payments window appears Balance gt 20 400 00 Payment Number EPO00002 Help wi Print Journal Cancel_ Process and Record User Guide N Select Pay Employees from the Select Payment By list if it is not already selected Enter a date to display unprocessed checks up to and including that date Optional Record the purpose of the transaction in the Journal Memo field Click in the select column _ next to the payments you want to include in the electronic payment Click Process and Record to transmit the transactions for approval After the trans
95. range To track changes go to the Setup menu choose Preferences and then set the Use Audit Trail Tracking preference in the Security tab MYOB AccountEdge 2007 v7 The transactional tax accounts payroll and system changes that are recorded are outlined in the following table Change type Transactional Description 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 Tax 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 Payroll change in the setup of a payroll category change of an employee s pay basis pay rate or pay frequency change of an employee s default wages expense account change of an employee s Carry Over accruals change of an employee s pay history change of an employee s 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
96. s 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 category s 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 Creating a new payroll category 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 104 User Guide Editing a payroll category 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 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
97. sale must also be deleted before the sale can be deleted Group Receipts in the undeposited funds account 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 Reconciled transactions If you delete a reconciled transaction your bank reconciliation will be out of balance Reconciled transactions should be reversed see Reversing a transaction on page 187 Insufficient on hand item quantities You cannot delete a purchase if it will result in a negative on hand inventory count To delete a transaction Find and display the transaction in its original transaction window See Finding a transaction on page 182 for instructions 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 MYOB AccountEdge 2007 v7 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
98. 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 recap transaction A function that lets you preview 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 bank s 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 User Guide S shareholder s equity The owners stake in the company It is the amount the owners inv
99. sold from This field appears only if you have more than one location For more information see Multiple inventory locations on page 153 F Price The price of the item appears automatically You can change the price if you want G Disc Optional Enter a volume discount as a percentage Total The total price of the items is calculated automatically l Job Optional Type or select a job number here to assign a line item to a job J Tax If the line item is taxable mark the Tax column User Guide 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 ia consuman A A Description Description Acct Amoun 4 5000 5200 00 B Enter a description of the goods or services being sold Acct or Account Name Enter the account to which to allocate the sale Amount Type the amount you are charging for this service D Job Optional Type or select a job number to assign a line item to a job E Tax If the line item is taxable mark the Tax column NOTE Add lines subtotals and headers to sales transactions 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
100. 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 MYOB AccountEdge 2007 v7 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 TH
101. 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 195 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 259 222 Chapter 14 Financial control You can also use the previous fiscal year s data as a basis for your budget To enter the budget for an account Go to the Accounts command center and click Accounts List The Accounts List window appears Click Budgets The Prepare Budgets window appears The window list
102. the accrued amount to appear on the paycheck stub select the Print on Paycheck Stub option A Type of Accrual can be e 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 e 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 106 Chapter 6 Paying your employees 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
103. the amount won t appear in the sales journal or in the activity s history It will only be recorded for the activity slip 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 employee s timesheet User Guide 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 employee s 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 112 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 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 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
104. the appearance of your choices Click OK when you have finished MYOB AccountEdge 2007 v7 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 Add Draw Sendto Font Print data graphic line back style preview a aa aa z aTa o jN ala w a B Layout Check ra Add Add Undo Bring to Form text shape front properties NOTE Layout selection The Layout list only appears for check forms 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 Select from List oppoood eeoooegeperrrsre User Guide 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 Click the fields you require 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 position see Drag and drop on page 216 If you want to change the properties of a data field double click it The Field Properties window appears The Field Properties window has two tabs the Layout tab where you specify the text format ba
105. the price you charge for one unit of the activity You can e use the rate you set up on the employee or vendor card e use the rate you set up on the customer card e specify a rate to apply to this activity only by entering a rate in the Activity Rate field Non 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 Non hourly Chargeable Non Chargeable Specify the unit of measurement in the Unit of Measurement field and then go to step 10 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 In the Income Account field specify the account you want to use to track the income you receive for this activity 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 Creating activities 131 To change inactivate or delete an activity To change details of an activity see Changing a record on page 172 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 amo
106. the quote 5 Click Record you want to convert e To convert an order click the Orders tab and select the order you want to convert Reviewing your sales information There are several tools that you can use to review your sales ake g g Tool Description See information Sales reports Sales reports help you keep track of your sales page 72 activities Tool Description See Sales history History lets you view seven years of sales history page 73 for an item a customer or an employee To Do List The To Do List displays all open sales recurring page 72 sales and orders sorted by overdue dates Sales Register The Sales Register window gives you a page 182 complete picture of your sales activity open and closed invoices orders quotes returns credits and so on Analyze The Analyze Receivables window displays page 72 Receivables aging information for all open invoices Analyze Sales The Analyze Sales window provides a graphical page 72 snapshot of your sales activities Find Find Transactions helps you find individual sales page 182 Transactions transactions quickly Transaction The Transaction Journal lists journal entries of page 184 Journal your sales and other transactions User Guide Reviewing your sales information 71 To view a list of all unpaid sales sorted by days overdue Click To Do List in any command center The To Do List window appears Click the A R tab A list of all unpaid sales appears
107. the scrolling list In the Budgets column type the amounts you ve budgeted for specific accounts for this job What do I need to budget 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 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 amp Salaries accounts or you may be considering taking a new loan which will affect your Bank Loans account What period can budget for MYOB accounting software lets you create a budget for the current fiscal year and the next fiscal year Budgets 221 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 You can compare your budgeted amount with actual account balances by viewing
108. the selected customer Work in Progress Completed Work A All Employees and Vendors AI Jobs Work in Dollars O selected O selected S QWork in Hrs Units Work in Progress Pb bilableall__AdjustmentLefeto all Tax 6 6 07 Telephi s 25 00 gt 6 16 07 gt 8 7 07 gt 8 14 07 S 9 14 07 s2 _ Sort by Job Totals 2 800 00 125 00 0 00 2 675 00 0 00 B C Consolidate Activities on Invoice L_1 _ C Use Activity Slip Notes instead of Activity Name Description on Invoice a bolic alas None Cancel Prepare Invoice A Filters Use these filters to find the required activity slips Print Options Select the relevant print options e Sort activity slips according to job number e Consolidate all activity slips with the same activity and job number on the invoice e Print the activity slip notes on the invoice C Adjustment Enter any adjustments you want to make for each activity slip here D Bill 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 Click Prepare Invoice The Sales New Time Billing window appears with the details of the time billing invoice MYOB AccountEdge 2007 v7 If you invoice for items enter the following details for each item e the date in the Date field e the quantity being sold in the Hrs
109. 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 User Guide 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 123 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 from inadvertently making an entry in a month in which you don t want new entries Go to the Setup menu and choose Preferences The Preferences window appears Click the Security tab 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 time for example you locked May and now want to make an entry in April you can unlock that month in the Preferences window 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 242 Year end procedures 239 Starting a new fiscal year Complete the tasks listed below to clos
110. to create the CaseWare export file click Export The Save As window appears Specify a location and file name for the export file The data is exported and saved as a text TXT file 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 MYOB AccountEdge 2007 v7 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 NOTE Single user access This task requires single user access For more information see Single user file locking for special tasks on page 253 Before you import data from CaseWare make a backup of your company file See Backing up and restoring company files on page 248 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 deli
111. using information extracted from MYOB accounting software These include withholding tax forms unemployment wage reports and new employee forms NOTE 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 40 If you have registered for the service see online help for more information on how to electronically file your payroll tax forms If you haven t registered you can view a demonstration of the forms available However they cannot be electronically filed 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 User Guide 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 stat
112. using the MYOB Merchant Account Service 57 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 Processed Receipt Processed Payment Receipt The payment has been declined U20 INVALID CREDIT CARD NUMBER Payment Information Name Jane Smith Card Entry Method Manual Credit Card Type Visa Credit Card Number XXXXXXXXXXX1243 Expiration Date 12 10 Amount 0 10 Dt v Help Print Close After closing the window you can e re enter the payment details for example using another credit card use another payment method for example check or debit card e reverse or delete the payment depending on how your preferences are set up in the Security tab of the Preferences window 58 Chapter 3 Banking 1 To finalize a declined authorization 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 Choose the appropriate action from the following table To you need to Re enter the payment Repe
113. v7 the Sales icon is highlighted tasks such as Enter Sales and Print Email Statements typical tasks you would complete in relation to sales appear in the command center s flowchart There are four menus at the bottom of each command center The options available from these menus are described below Select If you want to To Do List record and manage tasks that need your attention such as paying invoices to take advantage of early payment discounts or restocking items when inventory is low Find Transactions view summary information about your accounts sales purchases cards items payroll and jobs Reports view a list of the available reports Analysis analyze a number of key aspects of your business There are two ways of selecting an option e Click the menu name to display the window relevant to the command center you are in e Click the arrow and hold down the mouse button next to the option you want A menu appears listing the available options for all command centers not just the command center you are in Make a selection from this list Calendar The calendar simplifies date entry For example suppose you re 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 User Guide To display the calendar put the curso
114. 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 e apply payments to a particular invoice or bill e enter the payment method e 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 gt next to the transaction in the Bank Register window 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 217 14 If yo
115. where they can easily be reconciled with your bank statements MYOB Business Services include e MYOB Merchant Account Service which lets you process customers credit card payments e MYOB Direct Deposit Service which lets you pay your employees electronically e MYOB Vendor Payments Service which 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 To learn about MYOB Business Services Open your MYOB accounting software company file User Guide 8 Click Reconcile Go to the Setup menu and choose an option from the table below To learn about Choose MYOB Merchant Account Service Credit Card Processing and then Learn About Credit Card Processing MYOB Direct Deposit Electronic Payments and then Learn About Direct Deposit MYOB Vendor Payments 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
116. 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 customer s outstanding invoices If you don t 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 44 You can also record payments from your customers in the Bank Register window If you have several customer payments and don t 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 49 User Guide The options for recording receipts and invoice payments are summarized in the following diagram You receive money Is it in response to an invoice you issued 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 Opti
117. window that appears 26 Chapter 2 Setting up your company file 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 easier to add the credit card information while entering the sale See Credit card payments using the MYOB Merchant Account Service on page 55 When you have finished click OK to return to the Sales Easy Setup Assistant The card you created appears in the customer list 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 you ve made that haven t been paid in full as of the first day of your conversion month In the Enter historical sales for your customers window click Add Sale The Historical Sale window appears Type or select the name of the customer and press TAB Enter the details of the outstanding sale Click Record The Enter historical sales for your customers window appears Repeat from step 1 for each historical sale you want to record When you have finished entering your historical sales click Next The Congratulations window appears Click Close to exit the Sales Easy Setup Assistant MYOB AccountEdge 2007 v7 Setting up purchase details In the Purchases Easy Setup Assistant you can set up your vendor information
118. you want to customize MYOB AccountEdge 2007 v7 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 Report Customization Returns and Debits Vendors All x A negotiate price z Custom List 2 s Custom List 3 Q Advanced Filters Report Fields Finishing B Dated From September To September P Promised Date Date Range f To Date Range TE 9 1 07 To 19 30 07 To From ID To Vendor Inv To Amount From To Purchase Status Debit zs Employees 3s Memo Referrals Q Categories 3 Ship Via Q Currencies x P DS eat 2 gt e Help Print Send T Format Cancel Display A The top section of the window enables you to limit the report to e a particular customer vendor or employee e records with particular values in custom lists B The bottom section has three tabs Advanced 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 Specify the required fields below and Step 3 Select finishing options on page 202 4 Specify your search criteria in the Advanced Filters tab User Guide Step 2 Specify the required fi
119. 000 00 month you wrote a check for 1 000 and deposited 500 you Memo reared check Ne 1209 ameo Acct Name Amount Job Memo received from a customer If these transactions did not appear on T1110 Checking Account 31 000 00 your March bank statement you need to record both transactions i i 1 000 00 C Check Already Printed in your company file 51 000 00 Pa 0 00 Step 2 Record uncleared withdrawals and deposits in your company file Cancel Record You need to record uncleared transactions in such a way that the 8 Click Record opening bank account balance is not affected To do this you 9 Repeat from step 3 on page 35 for each uncleared withdrawal post a debit and a credit of equal amounts against the applicable bank account for each transaction User Guide Performing an initial bank reconciliation 35 To enter uncleared deposits Go to the Banking command center and click Receive Money The Receive Money window appears In the Deposit to Account field type or select the bank account you want to reconcile In the ID field enter a reference number for the deposit 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 In the Amount Received field type the amount of the deposit In the Acct field type or select the bank account you want to reconcile This must be the account entered in
120. 2 Select the export file format and enter other information in and use it in other software or in other MYOB company files this window For detailed field help click Help and then This process is called exporting data choose Help for This Window Some of the types of information you can export are 3 Click Continue The Export Data window appears accounts items general journal entries inventory adjustments Receive Money transactions Spend Money transactions sales purchases cards jobs activities and 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 AccountEdge Fields column Field 1 activity slips y SIP will appear in the Export Order column next to the field you The data can be exported to a tab delimited or comma selected The field name will appear at the top of the Export separated text file Fields column on the left side of the window NOTE Single user mode required for data export You Export Data cannot export data when more than one user is logged in For Click the AccountEdge Fields in the order that you wish to export them more information see Single user file locking for special tasks ae a on page 253 Fist Name D Festnames fied 2 a Card ID Card ID Field 3 Card Status Card Status Field 4 Before you export data you should make a backup of your Currency Code ae ee rae 5 3 j
121. 7 96 bill payments 95 definition 47 electronic payments 98 exporting transactions 257 importing transactions 259 petty cash 52 sending payment notifications 49 split button 50 standard cost 149 statements 60 customizing 210 emailing 237 importing 49 60 printing 198 237 reconciling out of balance amounts correcting 234 sending at month end 237 stock re order alert 261 stock See inventory items sub jobs 219 220 subtotal showing in transactions 69 89 synchronizing cards and Mac Address Book 177 Conflict Resolver window 178 resetting the synchronization 179 Sync Alert window 177 Synchronize Cards window 177 system requirements 288 Index host computer 266 network 266 workstations 266 T tabs using in lists 172 Tax Code Information window 171 tax codes assigning to purchases 27 87 sales 25 66 changing 172 185 consolidating 171 creating 171 deleting 173 exporting 257 setting up 170 taxes change amount assigned to purchases 88 sales 66 paying using the Pay Liabilities window 123 TCP IP protocol activating Mac OS X 267 telephone banking transfers 53 terms of credit customers 25 vendors 27 text fields adding to forms 213 changing font characteristics of 214 changing size of on forms 216 description of 211 time billing activities creating 130 defining 130 deleting 174 finding 172 activity slips creating 132 including in employee pays 115 multiple 134 135 single 132 adjust
122. 7 info marcobrothers com 627 00 00000376 10 12 07 info marcobrothers com 200 00 Email Defaults P Help y Cancel SendiEmail 3 Make a selection in the Type field MYOB AccountEdge 2007 v7 4 Ifyou want to filter the transaction information or change the type of stationery the forms will appear on click Advanced Filters A warning message appears You will lose any changes to the Emails not in the filtered list Do you want to continue Cancel 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 1 next to each transaction you want to email 6 Ifyou want to email all the transactions click 1 above the select column 7 If you want to view the transaction details click the zoom arrow gt next to the transaction 8 Ifyou want to change a recipient s email address type or select the address in the Email Address field 9 Ifyou 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 User
123. 76 Federal income Tax 215 89 i ederal Medicare Ta Non Cash Wages ae AT gt Federal Social Securi 130 06 Total Wages 2 097 76 gt New Jersey Rate D 49 79 gt New Jersey Disability 10 49 Total Taxes Withheld 445 67 gt New Jersey Health Cz 4 20 Total Deductions 125 87 gt New Jersey Unemplo 4 20 ee gt New Jersey Work For 0 52 Net Wages 1 526 22 ACCRUALS Employer Expenses 223 42 Sick Leave Accrual 0 000 Vacation Leave Accrt 0 000 4 Total Direct Payroll Costs 2 321 18 EMPLOYER EXPENSES T y Close 126 Chapter 6 Paying your employees MYOB AccountEdge 2007 v7 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 time such as accountants and lawyers and businesses that sell both time and items such 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 Smith s 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
124. 9 97 copying an existing template 189 creating 188 deleting 191 deposits 45 duplicating 189 editing 190 finding 185 purchases 89 recording 188 multiple 192 reminders 189 rescheduling 190 responding to reminders for 192 sales 67 saving 187 scheduling 188 refreshing lists in a multi user environment 256 refund check receiving 101 refund payment 81 registration See activation of company files Reminders window 189 192 reports batches 199 changing 199 creating 199 deleting 199 printing 198 columns moving and resizing 197 custom reports 203 storing on a network 255 customizing 200 designing 201 emailing 197 faxing 198 filtering information appearing on 200 printing 196 when several users active 255 purchase reports 95 reviewing at month end 236 sales reports 72 sample 196 saving as comma separated values CSV files 197 HTML files 197 PDF files 197 simple text files 197 tab delimited values files 197 sending 197 using custom lists as filters 165 viewing in Microsoft Excel 198 Reports menu command centers 15 restoring a backup 248 reversing transactions 187 voiding MMAS credit card payments 60 Review Sales Before Printing window 208 rounding time in time billing 128 S sales analyzing sales activity 72 assigning tax code to a sale 65 87 batch printing 207 changing status of 70 choosing type of 64 creating purchase order 66 deleting 186 emailing 66 in a batch 207 entering 56 63
125. C 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 below D Click Copy Amount to Following Months to copy the selected amount to the months that follow E Click Copy Previous Year s Actual Data to insert the previous year s account balances for the selected account and month 6 Click Close to save the budget data and exit the Prepare Budgets window 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 To enter a budget using the Budget Shortcuts window 1 Goto 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 User Guide 5 From the Budget for list select a time period Budget Shortcuts 4 1200 Video Equip Rental Income Use budget shortcuts to update budget amounts for the selected months Amounts will be updated in the prepare budgets window when you click OK Select a time period Enter the monthly budget amount you can increase o
126. Carolina Industries Buffalo Systems 100002 30 009 50 Carolina Industries Car 003 2 467 90 Harris amp Harris 100005 6 198 54 Kwinter Gourmet Shops 100006 8 776 50 Marco Brothers Inc 2 027 00 On Time Productions Can 1 435 00 Shafley Michelle 446 80 Sienna Construction 1 700 00 Smithware Dynamics 100003 5 148 09 Tanner Greg 4 997 31 Westmorland Electronics West 001 1 309 00 f4 Nev e Help New Easy Add Cancel Use Customer 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 170 Chapter 10 Lists Click Easy Add A new customer card is added to your cards list You can now complete your task with the new card 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 Your MYOB accounting software has an extensive list of tax codes that can be used in a variety of situations for 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 MYOB AccountEdge 2007 v7 Consolidated tax codes You can create consolidated tax codes 4 Complete
127. E 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 WARRANTI
128. ES 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 User Guide 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 O
129. Go to the Setup menu and choose Company Information In the Company Information window click the License button Call Customer Service at the number given in the Enable License window and follow the Customer Service representative s instructions NOTE Write down the confirmation code Ask the Customer Service representative for the company file s confirmation code you may need it to activate the extra seats you purchased Confirm the extra workstation licenses e If you want to confirm via the Internet click Enable Online and click OK e Otherwise type the confirmation code given to you by the Customer Service representative in the Enter Confirmation Code field and click OK CAUTION Single user access required Making a backup requires single user access For more information see Single user file locking for special tasks on page 253 MYOB AccountEdge 2007 v7 Precautions when backing up Avoid common mistakes that can 1 Go to the File menu and choose Backup A backup window cause you to lose backups of company files appears e Take care when backing up multi user company files If multiple users access a company file on a host always back up AccountEdge Company File Backup the company file that is on the host especially if you include ee nicaeae a a Alternatively you can choose to backup the company file only custom forms and letter and spreadsheet templates in the SEES Backup Company File only backup
130. Guide c Ifyou track fiscal information using categories select a category from the Default Category list Entering employee payroll information 111 ENTER PAY HISTORY AND TIME BILLING INFORMATION cost per hour For more information see Chapter 7 Billing for 12 If you have already paid the employee in the current payroll year time starting on page 127 click Pay History and type the amounts you have paid in the Activity column next to each relevant payroll category You can ENTER PAYMENT METH ODHINEORMA TON enter pay history for specific months quarters or for the year to 14 Click the Payment Details tab and select the method you use to date pay the employee in the Payment Method list Amounts entered in the Pay History window appear on reports If you are paying employees using MYOB Direct Deposit select not derived from payroll activity such as register reports They Electronic and enter the employee s bank details in the Account are not recorded as transactions in your accounts Type ABA Routing Number Bank Account Number and Bank Account Name fields These fields are used to route electronic 13 If you use the Time Billing function to track the time the een payments to the correct destination bank employee spends to complete work for clients and customers click Time Billing and enter the employee s time billing rate and 15 Click OK The Cards List window reappears 16 Click Close to return to Payroll comman
131. If you have formatted a report and want to change it back to its original 4 Make any other entries or selections that apply to the report format click Default To change the report s margins specify the margin widths Step 4 Change the report format D The right side of the Report Format window shows a preview of each You can modify the look of the report by choosing different font report section styles sizes colors alignments and effects and by changing the report s page margins 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 202 Chapter 12 Printing and customizing reports MYOB AccountEdge 2007 v7 Step 6 Save the report If you plan to use a report s 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 With the report displayed click Save As The Save As window appears Enter a name and a brief description of the custom report and click OK The Report Display window reappears 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 repor
132. 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 e The Currencies List report iists all your currencies with their currency code currency symbol and last entered exchange rate e The Realized Gain Loss report displays realized gains or losses on transactions per account e The Unrealized Gain Loss report displays unrealized gains or losses on transactions per account MYOB AccountEdge 2007 v7 9 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 retaile
133. JJ AccountEdge 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 Dev
134. Line 2 Line 2 Field 7 company file See Backing up and restoring company files on Line 3 x tine 3 field 8 age 248 C Required Field for an AccountEdge Import p g Conditional Field Must have one or both fields for an AccountEdge Import To export data Bela Match All Unmatch All Cancel Export 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 257 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 AccountEdge Fields column If you want to export all the fields in the order they re shown in the AccountEdge Fields column click Match All 7 When you have selected the fields click Export The Save As window appears 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 client s accounting software If your accountant requests an electronic copy of your accounting records you can use your MYOB accounting so
135. MYOB AccountEdge 2007 v7 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 Click Record To record a credit card purchase in the Spend Money window Go to the Banking command center and click Spend Money The Spend Money window appears In the Pay from Account field type or select the credit card account you want to use 2 1130 Visa Balance 0 00 Ko Pay from Account _ Group with Electronic Payments Type the date amount and payee Type a comment in the Memo field to provide a brief description of the purchase you are recording Allocate the payment to an account This is usually an expense account Click Record to record the credit card purchase aA ww bh WwW 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 To record a payment to a credit card provider Go to the Banking command center and click Spend Money The Spend Money window appears In the Pay from Account field select the bank account you want to use to make this payment In the Card field type or select the credit card provider s name Type the payment date in the Date field Type the amount you want to pay Type a comment in the Memo field to provide a brief descriptio
136. October 10th 2007 relating to Carolina Industries you would make the following selections in the Card view Search by Card TE Carolina Industries Dated From 9 1 07 To 9 14 07 a 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 lt gt next to it 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 Go to the Sales command center and click Sales Register The Sales Register window appears MYOB AccountEdge 2007 v7 2 Click the tab of the sales category you would like to view for example Open Invoices KOKS Sales Register Allsales Quotes Orders Open Invoices Returns amp Credits Closed Invoices Search by All Customers Ja Dated From 9 1 07 To 19 14 07 Invoice Cust POF Customer Amount Amt Due Status gt 00000324 Buffa stems 585 00 585 00 Order gt 00000380 Buffa stems 80 00 80 00 Open gt 00000382 Buffa stems 80 00 80 00 Open gt 00000383 Buffa stems 100 00 100 00 Open gt 00000384 Buffa stems 190 00 10 00 Credit gt 00000385 Buffa s
137. R 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 AccountEdge 2007 v7 1 Introduction 11 Learn about your MYOB accounting software 11 Where to start L 13 Explore your MYOB accounting software 14 2 Setting up your company file 17 Overview oeie oii ian Ea OEE cee eee 17 Setting up preferences 00 18 Setting up accounts 02 eee 19 Setting up sales details 24 Setting up purchase details 27 Setting up payroll details 29
138. 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 User Guide 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 1 To prepare a bank deposit Go to the Banking command center and click Prepare Bank Deposit The Prepare Bank Deposit window appears 000 Prepare Bank Deposit Deposit to Account T 1110 a gt alance 15 400 00 Select Receipts By All Methods 4 1D R000006 Date 8 9 07 Memo Bank Deposit D Date Memo Payment Method Amount E Deposit CR000005 8 9 07 Famakles Groceries Check 200 00 Number of Deposits Included 1 Total Deposit Amount 200 00 Deposit Adjustment Help Print Journal Cancel r Preparing a bank deposit 45 In the Deposit to Account field enter the account into which the funds selected in the Prepare Bank Deposit window will be deposited 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 appea
139. To record inventory movements 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 Select the item you want to move You can locate an item by scrolling or by typing the item number in the Search field MYOB AccountEdge 2007 v7 3 Record the quantities held at each location 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 A 00e Move Items Seai h Total Item Numbers 14 item Number On Hand HighSt Location Warehouse Out of Balance 100 101A5 47 25 22 M 101011 0 l 200 101A5 49 10 19 20 0 300 10186 12 12 400 101 101 101 500 101D3 206 206 600 101G8 65 65 700 101U7 60 60 800 101R9 25 25 8 491 211 211 VK100 5 X123 570 570 a X124 326 326 X a aiba dash Close Moveltems ee Building items Building Items is the process of taking two or more items known as compo
140. acking returns and allowances Check your accounts list for an income account named Sales Returns and Allowances If it doesn t exist you need to create it For more information about creating an account see To add an account to your accounts list on page 168 You can create a customer credit note in the following ways e Reverse an existing sale Use this method if the customer has paid for the entire sale e Manually create a credit Use this method if you are crediting the customer for part of a sale To reverse a sale To reverse an invoice the transaction must be unchangeable that is the Transactions CAN T be Changed They Must Be Reversed option must be selected in the Security tab of the Preferences window Find and open the invoice For more information finding invoices see Finding a transaction on page 182 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 User Guide If you want you can make a some changes to the credit note such as changing the date and memo but you can t change the accounts amounts and quantities that are associated with the credit 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 Go to the Sales command center and click
141. action 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 Click Transaction Journal from any command center except Card File The Transaction Journal window appears MYOB AccountEdge 2007 v7 2 Click the appropriate tab for example the Sales tab to find a sales invoice the Disbursements tab to find a payment and so e0e Transaction Journal General Disbursements Receipts Sales Purchases Inventory All Dated From 19 1 07 To 9 14 07 ID From To Date _ID Account Debit Credit Job gt 9 1 07 Money Transfer TR000003 1 1115 Checking Account 2 1 000 00 TR000003 2 1130 Visa 1 000 00 gt 9 14 07 Money Transfer TR000002 1 1110 Checking Account 500 00 TR000002 1 1150 Electronic Payments 500 00 P g Help Print Close 3 Inthe 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 Ifyou 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 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 chang
142. age 196 2 Select the fields you want to appear on the report Customizing reports 201 Step 3 Select finishing options 1 Click Format in the Report Customization window The Report 7 pot F t wind The Finishing tab view of the Report Customization window a i laa 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 Report Format Closed Invoices Font amp Style which report you select Al onime Fa A Acme Widgets Arial B47 A Coor Meola sate AAI Financial Report To select finishing options EE Pais O De A D Numbers 1 Click the Finishing tab Negatives Noma W ys co 8100000 Align Title amp Headings Center mz All Accounts 1 000 00 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 C Reports Menu option 3 If you are on a network and want to prevent data from being 7 changed when the report is being generated select the Prevent a Saas LLE Data Changes During Report Generation option This will B prevent other users from recording transactions or making other A Click the Report Line drop down list select the section of the report you changes in the company file while the report is being printed want to customize and then change the formats as required B
143. al 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 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 company s position at a particular time A balance sheet lists the balances of the company s 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 272 Glossary budget Expected monthly net activity for an account Budgets are useful for planning for the future and for analyzing actual performance against planned performance 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
144. al payment amount appears in the Amount field and the individual payment amounts are applied to each open purchase MYOB AccountEdge 2007 v7 B Discount 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 99 C Amount Type how much of the payment you want to apply to Applied each bill in this column D Finance If part of the payment was used to pay finance charges Charge type the finance charge amount here E Out of Keep in mind that the amount you apply in the Amount Balance 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 If you are paying by check and have already written it select the Check Already Printed option 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
145. al 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 Enter and confirm the payroll year Enter the current payroll year and click Next Confirm the current payroll year and click Next Setting up payroll details 29 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 company s federal and state tax details To set up general payroll information In the Full Work Week Hours field enter the number of hours in your company s 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 employee s card or paycheck as necessary Enter your federal tax ID number Enter your federal unemployment tax rate as a percentage 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 When you have completed the applicable fields click Next 30 Chapter 2 Setting up your company file 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 Description Cash Payments The ac
146. al year e creating changing or deleting report batches e optimizing a company file e setting up changing or removing user accounts e starting a new payroll year e loading payroll tax tables e synchronizing cards and Mac Address Book cards e creating changing or removing payroll categories 254 Chapter 16 Managing user accounts and company files 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 on page 255 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 e Someone else is currently signed on with the same User ID Someone else is using the company file with your user ID ora lock file from an irregularly ended session is present e No more than 10 company files in any folder may be opened at one time There are mo
147. als For more information see Adding and deleting lines headers and subtotals to sales on page 65 Enter additional information about the sale such as the salesperson referral source and invoice delivery status 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 187 Work in progress Work you have done for your clients that you haven t 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 haven t yet billed your clients for it 138 Chapter 7 Billing for time 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 10 If you want to print the invoice click Print and then choose the form you want to use for this invoice N
148. an item 1 Goto the Inventory command center and click Items List 2 Click the zoom arrow gt to the left of the item The Item Information window appears MYOB AccountEdge 2007 v7 3 Click the Item Details tab To name a custom field 4 Select the list entry you require from the appropriate custom list 1 Go to the Lists menu and choose Custom Lists amp Field Names 5 Click OK and then Items The Custom List and Field Names window appears Custom lists and inventory reports 2 Inthe Name of Custom Field fields type the names and click OK You can generate reports using your custom lists as report filters a k OE PR For example you can generate a report to include only those Price Levels Enem Customer Vendor Employee Personal items with a certain list entry such as the color red For more i Name of Custom List 1 Warehouse information on setting report filters see Select the data to be Name of Custom List 2 Warranty printed on page 200 Name of Custom List 3 Custom List 3 Name of Custom Field 1 Manufacturer Name of Custom Field 2 Substitute Item Printing custom field entries purchases and invoices peel con eia You can customize your invoices and purchases to include the custom lists For more information on customizing and printing Help aso forms see Chapter 13 Forms starting on page 205 These field names will appear on the Item Details tab of the Item Creating custom fi
149. and deleting lines subtotals and headers to purchases You can add lines headers and subtotals to purchase transactions To insert a blank line In the Purchases window click in the line below where the blank line is to appear Go to the Edit menu and choose Insert Line To insert a header You can group several line items by inserting a header In the Purchases window click in the line below where the header is to appear 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 Type the text for the header The text appears in gray Description Acct Amount Job Tax Billboard 6 1000 300 00 Ad in local papers 6 1000 120 00 Brochures 6 1000 22 00 Press TAB to complete the entry Entering purchases 89 To insert a subtotal In the Purchases window click in the first line below the items to be subtotaled 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 6 1000 300 00 6 1000 120 00 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 don t know the amount payable
150. and headings are automatically printed with the form s 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 Create custom forms in the Forms folder on the host computer on which the company file is stored 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 210 Chapter 13 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 When you have finished your selections in the Advanced Filters window click OK Complete the following steps to create save and print your customized forms Step Action See 1 Display the form page 211 2 Set up form properties page 211 3 Adding and editing elements page 212 4 Preview the customize
151. 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 Payroll Category Hours Account Amount Job Base Hourly 28 6 5110 Wages 1 211 54 0 Sick Pay 4 6 5110 Wages 173 08 Vacation Pay 8 6 5110 Wages 346 15 e 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 300 118 Chapter 6 Paying your employees Therefore the value you need to enter in the Amount column for Base Salary is 700 that is 1 000 less 300 Payroll Category Hours Account Amount Job Overtime 1 5x 0 6 5110 Wages 0 Pay 4 6 5110 Wages 100 00 Vacation Pay 8 6 5110 Wages 200 00 Base Salary 6 5110 Wages 700 00 Click OK The Select amp Edit Paychecks window reappears To record other types of pay NOTE Other types of pay recorded on a timesheet If you ve entered other t
152. and then Learn About Electronic Vendor Payments The overview page for the chosen service appears 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 To activate MYOB Business Services Make sure you have your merchant ID user name and password on hand Open your MYOB accounting software company file Go to the Setup menu and choose an option from the table below To activate Choose MYOB Merchant Account Service Credit Card Processing and then Set up Credit Card Processing MYOB Direct Deposit Electronic Payments and then Set up Electronic Payments amp Direct Deposit MYOB Vendor Payments Electronic Payments and then Set up Electronic Payments amp Direct Deposit The MYOB Business Services Setup window appears 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 3 Click the Apply Now link Tell Me How 4 Follow the on screen application instructions If you re setting up MYOB Merchant Account Service only your setup is complete 38 Chapter 2 Setting up your company file MYOB AccountEdge 2007 v7 4 If you are setting up MYOB Direct Depo
153. anding receivables Payables Reconciliation Lists all your outstanding payables Analyze Sales Customer Lists your company s sales activity and trends on a month by month basis Analyze Purchases Vendor Lists your company s monthly purchases Items List Summary Shows what s on hand and what needs to be ordered Audit Trail 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 224 Profit amp Loss Statement Shows your profit and loss figures Balance Sheet Reviews your financial position as of the end of a period 236 Chapter 15 End of period procedures Summary Trial Balance Identifies incorrectly entered amounts When reviewing this report check for e entries that seem unusually high or low for the account that has been affected e debit amounts for accounts that normally have credit entries and vice versa e unusually high or low ending balances e an unusually high or low number of entries for a specific account Balance Sheet Budget Analysis Lists account balances as of the end of a selected period along with the budgeted amounts for them If you ve determined that changes need to be made to the amounts you ve budgeted for the c
154. ansaction to view it in detail Click in the select column _ next to any recurring transactions you want to process e028 To Do List A R A P Transactions Sales Purchases Discounts Orders Stock Contact Review your recurring sales Choose the desired sale s and then click Record You will be prompted to enter a date for the transactions Name Overdue Frequency Last Posted Next Due Albany Mo ly Training 393 Monthly 6 14 07 10 14 07 Sale Carol Industries 396 Monthly 10 15 07 Monthly a Industries 427 Monthly 7 1 07 11 15 07 Monthly nd Electron 427 Monthly 8 1 07 11 15 07 GIs Select All y 4 5 Help Print Close Record 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 Enter a date and click OK 192 Chapter 11 Transactions 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 transaction see Choose alert options on page 189 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 SKORS Reminders Transaction Due Date Amount Border Digital 10 15 07 45 00 A Skip This Period P Help y Close Record
155. antities and values and you want to record a sales invoice for an item with insufficient on hand quantities you can e record the sale and allow a negative on hand item quantity and value to be recorded for the item e build buy or backorder the item 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 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 User Guide 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 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 co
156. appears For more information about creating purchase orders see Entering purchases on page 85 e 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 205 e 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 MYOB AccountEdge 2007 v7 Format attachment will be sent to the Outbox of your default email software Send the email from your email software e Record and fax the sale Click Send To and choose Print and select the print driver for your fax software Send the fax using your fax software as you normally do e 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 e 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 187 Recording sales with insufficient on hand item quantities If you track item qu
157. application from the dock and click the Network icon User Guide In the Network control panel set the Show drop down list to Built in Ethernet for a cabled network or Airport for a wireless network and click the TCP IP tab Configure the addressing method e If addresses are dynamically assigned set the Configure drop down list to Using DHCP In the DHCP Client ID field type the name by which the computer is to be on the network e Otherwise set the Configure drop down list to Manually In the IP Address field type the IP numbers of the address for example 10 24 5 253 If you set the address manually in the DNS Servers text box type the IP address of the LAN s primary DNS server on the first line and those of secondary DNS servers if there are any one to a line on the remaining lines Click Apply Now If addresses are dynamically assigned the DHCP server then dynamically assigns an IP number to the computer and the IP Address Subnet Mask and Router fields are updated To create a shared user account on the Mac OS X host Log in as an administrator Launch the System Preferences application from the dock and click the Accounts icon In the Accounts control panel click the plus button 1 In Mac OS X 10 2 or earlier click the Users tab and click New User Setting up a company file folder ona MacOS X host 267 4 Inthe drawer complete these fields and click Create Account lt E Name
158. are doesn t calculate depreciation automatically but you can record your depreciation figures with a journal entry 238 Chapter 15 End of period procedures 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 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 168 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 Account Name Type Linked Balance 1 3100 Office Equipment Asset 30 000 00 gt 1 3110 Office Equipment Original Cost Other Asset 35 000 00 gt 1 3120 Office Equipment Accum Depre Other Asset 5 000 00 Create a new expense account You may want to call it Depreciation Once you ve determined your depreciation amounts make journal entries
159. ars 152 Chapter 9 Inventory 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 Enter details of the adjustment e080 Adjust Inventory Inventory Journal Number 1000017 Date 9 14 07 Memo Inventory count Item Number Location 1D Quantity Unit Cost Job Memo gt 100 101A5 Location1 9 0442 200 101A5 Location1 B A Cc 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 B If you hold inventory at multiple locations select the location where the item is stored This field appears only if you have more than one location For more information see Multiple inventory locations on page 153 C 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 nu
160. ars click Continue 2 When the pays are recorded the Process Payments window appears e060 Process Payroll CXD Select Employees to Pay Select amp Edit Process Payments Electronic Payments Recorded 1 Amount 464 96 Do you want to send these electronic payments now If so click Prepare Electronic Payments 120 Chapter 6 Paying your employees Step 5 Process payments In the Process Payments window you can e print employee paychecks see below e process an electronic payment for employees paid using MYOB Direct Deposit see page 121 e create a spend money transaction to clear the account you use to temporarily hold cash wage amounts see page 122 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 To print paychecks Click Print Paychecks The Review Checks Before Printing window appears laoo Review Cheques Before Printing Selected Bank Account 1 1200 5 Payroll Cheque Account Number of First Chequi Print T Copies of Each Selected Cheque Advanced Filters Cha Date Payee Amount 26 8 29 06 Peter Parke 613 23 Cancel Print If you
161. as 89 saving sales as 67 preferences Allow the sale of items with insufficient on hand quantities 67 Apply Customer Payments Automatically to Oldest Invoice First 81 how they work on a network 253 Deal in Multiple Currencies 18 Use Timesheets for and My Week Starts on 113 Prevent Data Changes During Report Generation 255 Prompt for Data Backup When Closing 251 Select and Display Account Name Not Account Number 18 setting up 18 system wide preferences 253 time billing 128 Transactions CAN T be Changed They Must be Reversed 187 Use Audit Trail Tracking 224 Use Easy Fill When Selecting From a List 18 Use Expandable Data Entry Fields in Windows 18 Warn if Customer has an Outstanding Credit Before Applying Payment 76 286 index Prepare Bank Deposit window 45 186 Prepare Budgets window 222 Prepare Electronic Payments window 98 121 price levels assigning to customer 163 creating custom 162 prices average cost of an item 152 last cost of an item 152 quantity breaks 163 setting 161 standard cost of an item 149 152 printing checks 49 82 97 end of year forms 242 forms 207 invoices 66 in a batch 208 purchases 89 in a batch 208 receipts 75 statements 198 237 problems troubleshooting 12 Process Payments window 120 Process Payroll window 114 public folder See network purchase payment notification 49 purchase activity viewing 183 purchase forms emailing 89 faxing 89 purchase
162. as 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 e f 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 80 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 bank s website should provide instructions on how to download this file The following file formats are supported OFX QFX QIF and OFC Go to the Banking command center and click Bank Register The Bank Register window appears MYOB AccountEdge 2007 v7 a ww A w In the Account field type or select the account that corresponds to the bank or credit card statement Click Get Statement The Open window appears Locate and select the downloaded statement file Click Open The Get Statement window appears 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
163. 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 gt 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 e 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 Recurring transactions If you have transactions that you record time and time again for example a rent check or depreciation expenses you can set them up as recurring transactions and save them for future use User Guide e If you use the original date for the reversal transaction your prior month s 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 pa
164. at the payment processing from step 3 on details page 56 Use another payment Go to step 4 on page 44 for a Receive Money method not credit transaction or step 5 on page 74 for a Receive card Payments transaction Reverse or delete the Go to the Edit menu and choose Reverse payment Payment or Delete Payment For more information see Reversing a transaction on page 187 or Changing or deleting a transaction on page 185 Finalize the payment Click Cancel When you are ready to finalize the later payment you can use one of the actions listed above 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 187 or Changing or deleting a transaction on page 185 MYOB AccountEdge 2007 v7 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 MYOB AccountEdge The authorizer is not responding Your transaction may or may not have been processed Click the link below to access Payments Gateway and determine the result of your transaction before deciding how to proceed Login to Payments Gateway OK A time out can occur during busy network periods or when your connection to the internet is interrupted
165. b and enter your account details Copy this information exactly as it appears on your bank statement or checkbook User Guide 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 you ve finished entering the budget amounts For more information on budgets see Budgets on page 221 13 Click OK when you have finished The account you created will now appear in your accounts list Adding other records If you want to add a payroll category see page 104 e atime billing activity see page 130 e an item see page 148 e an inventory location see page 154 e a tax code see page 171 e a recurring transaction see page 188 e a foreign currency see page 140 e a category see page 218 e ajob see page 219 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 Adding arecord 169 To create a record using Easy Add Let s assume you want to add a customer card while entering a sale 1 Inthe Sales command center click Enter Sales The Sales window appears 2 Type the customer s name and press TAB If there is no card for this customer the Select from List window appears Select from List Look for
166. beginning it may be easier to enter all your header accounts before entering your detail accounts 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 20 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 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 setup see Enter your account opening balances on page 23 Setting up accounts 21 6 Click the Details tab e0a Edit Accounts Profile Details History 1 4144 Other Asset Current Balance o 1 500 00 Description Classification for Statement of Cash Flows Operating Currency USD United States Dollars Local Linked Account for Unlinked Nev ee Cy lt s Help New Budgets Eo 7 Ifyou want type a brief description of the account in the Description field 8 Ifyou 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 Statem
167. both an MYOB card and Address Book card a conflict resolution window allows you to choose how you want to update the card NOTE Mac OS X 10 4 required To synchronize MYOB cards and Address Book you need Mac OS X 10 4 or later installed 176 Chapter 10 Lists You can synchronize card names address details email and web addresses and telephone fax and cell phone numbers See online help for information on the fields that are synchronized Note that inactive cards are included in the synchronization for information see Inactivating or reactivating a record on page 173 CAUTION Back up your Address Book Synchronizing your MYOB cards and your Address Book will change the details recorded in your Address Book Back up your Address Book before synchronizing For more information see Address Book Help MYOB AccountEdge 2007 v7 Address Book group folders Address Book cards that are synchronized with MYOB cards are stored in MYOB group folders These folders are created automatically when you synchronize for the first time Group ja Directories Widgets Customer Widgets Employee Widgets Persona Widgets Vendor NOTE If you move cards to MYOB group folders If you move a card to an MYOB group folder for example from the All folder to the Customer folder and you want to synchronize this card you need to reset the synchronization See Resetting the synchronization on page 179 Duplicate cards i
168. c element appears Double click the graphic element The Field Properties window appears Click Paste Picture The graphic appears in the Preview Picture area Specify the field location and element size for the graphic Click OK The graphic appears in the Customize window User Guide To draw a line on a form You can draw a vertical or horizontal line on a form 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 Drag to where you want the line to end and then release the mouse button To draw a rectangle on a form Click the rectangle button C1 Click and hold the mouse at the location on the form where you want the top left corner of the rectangle to appear 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 Double click the line or rectangle The Field Properties window appears Choose a thickness in the Line Size section of the Field Properties window Click OK Adding and editing elements 215 Editing all elements with common commands The following editing procedures are applicable to any element To Do this Copy and paste 1 Click an element once to select it 2 Goto 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 G
169. cation in your company file For more information see Multiple inventory locations on page 153 D Enter the unit cost of each item to be included in the build E 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 Auto building items For items that you repeatedly build you can use the Auto Build 4 Inthe Minimum Level for Restocking Alert field type the function to build the finished items minimum level of the item you want to have in inventory Before you can build a finished item using the Auto Build 5 Click Edit List The Auto Build Information window appears function you need to define what items are needed to build the item Auto Build Information List what it takes to build 1 inventory unit s of 100 101A5 Widgets To define an Auto Build item EROE TE Caney 1 Goto 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 ind z Cancel OD Information window appears 3 Click the Auto Build tab 156 Chapter9 inventor MYOB AccountEdge 2007 v7 p y g 6 Inthe List what it takes to build field type the number of item 8 Click OK when you have entered all the components units y
170. cci amount Job Tax Salesperson o Samuel Shannon g 0 00 Comment We appreciate your business U 0 00 Ship Via s 0 00 EXM 5 Promised Date Total Amount 0 00 Journal Memo Sale Albany Diagnostics Paid Today 0 00 Referral Sour S Payment Method Visa g Derails Tivoice Delivery Status To be Emailed p Balance Due 0 00 ES save Recurring Use Recurring Sk Reimburse a amp lt 0 G 7 s SS amp Help q Print Send Tq Journal Layout Register Cancel Record gt After you have completed a number of transactions say the day s invoices you can print or email a transaction batch See To print forms and To email forms on page 208 Sending forms 207 To print forms Select the command center function for the forms you want to print For information about finding forms see Finding forms on page 206 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 e008 Review Sales Before Delivery To Be Printed To Be Emailed Sales Type Professional Print T Copies of Each Selected Sale Print O Packing Slips per Sale Print 0 Labels per Sale Advanced Filters Invoice Date Customer Amount 00000340 7 15 07 Buffalo Systems 1 500 00 Help q Cancel Print Click the To Be Printed tab Make a selection from the Type field Click in the select c
171. ccountEdge 2007 v7 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 e Accounts level view the profitability and financial details of your business as a whole e Categories level view the profitability and financial details of your individual business divisions departments properties offices product sales and services e Jobs level view 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 business car 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 217 Accounts The accounts list could be set up to provide a basic overview of the business s overall performance For example the following income accounts could be used e 4 0000 Income Header e 4 1000 Car Sales Header e 4 1010 New Car Sales Detail e 4 1020 Pre owned Car Sales Detail e 4 2000 Service and Parts Income Header e 4 2010 Service Income
172. ccountEdge on that host but can only open the company file in single user mode This means that workers on 266 Appendix C Networking company files other workstations cannot access the company file at the same time To resolve this situation store the company file on a Macintosh host computer running Mac OS X but do not run MYOB AccountEdge on that host or only run it infrequently perhaps to print reports when others do not need access MYOB AccountEdge 2007 v7 NOTE Upgrade to a recent release of Mac OS X When accessing a company file from remote workstations MYOB AccountEdge experiences poor network performance if the Macintosh host computer is running releases of Mac OS X earlier than 10 2 5 Complete the following tasks to set up a Mac OS X host computer and share a public folder where the company file will be stored e To activate TCP IP on a Mac OS X host or workstation below e To create a shared user account on the Mac OS X host page 267 e To share a Public folder on the Mac OS X host page 268 To activate TCP IP on a Mac OS X host or workstation This procedure shows you how to activate the TCP IP protocol on a computer and set either automatic or manual IP addressing NOTE Seek expert assistance The following steps may not apply to the way your LAN is set up If so seek the advice of your system administrator or a qualified network consultant Log in as an administrator Launch the System Preferences
173. cedure 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 User Guide Using the Business Calendar MYOB accounting software has a business calendar you can customize to suit the needs of your business You can e specify the days on which your business is closed so reminders on your To Do List appear on open for business days and e 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 More tools for organizing your day to day tasks 263 264 Appendix B More tools MYOB AccountEdge 2007 v7 Appendix C Networking company files If you have installed MYOB AccountEdge standard edition on two or more computers running Mac OS X this appendix shows you how to share a single company file so that multiple users can access it simultaneously If you are using MYOB AccountEdge Network Edition which runs only on Mac OS X 10 2 8 or later please refer to the MYOB AccountEdge Network Edition Implementation Guide to learn how to set up a host to simultaneousl
174. cessing pays for all employees click Process all employees paid and select the pay frequency in the adjacent field NOTE 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 amp Edit Paychecks window Also note that you need to manually calculate and enter tax for these amounts e 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 employee s card is used in the pay run In the Payment date field type the date on which you are processing the pays In the Pay period start field type the first day of the pay period In the Pay period end field type the last date of the pay period If you do not use timesheets click Next to continue The Select amp Edit Employee s Pay window appears Continue with Select and edit paychecks below 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 112
175. cial information 227 228 Chapter 14 Financial control MYOB AccountEdge 2007 v7 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 accountant s 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 fe
176. ckground color location and size of the field and the Borders tab where you specify the layout color and width of the field s borders Change the properties as required and click OK To add a text label to a form Click the add text button T and then click the place on the form where the text field is to be located A new text label named Text Field appears 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 label s borders Adding and editing elements 213 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 it see Resize on page 216 To change the name of a text label Double click the text label The Field Properties window appears Change the name in the Text field on the Layout tab Click OK To change the font style of a data field or text label Double click the data field or text label to be changed The Field Properties window appears Click Text Format on the Layout tab The Text Format window appears Make your choices in the Font Font Style Size Justify and Effects fields in this window If you want to change the font color a Click Font Color The Font Color window appears b Sele
177. come 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 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 167 To add a card to your cards list Go to the Card File command center and click Cards List The Cards List window appears Click New The Card Information window appears Choose the required card type Customer Vendor Employee or Personal Type a name for the card and press TAB Complete the relevant fields on this and other views of this window You may want to use the following features in the Card Details view e Picture allows you to link an image to the card See Linking a picture to a record on page 262 e Identifiers are useful for grouping your cards See Organizing your cards on page 261 e Custom lists and fields for recording additional information about the card See Recording additional information about your cards on page 262 Adding an account When you set up your company
178. company file Equity Equity The business s net worth that is its assets minus its liabilities Common equity accounts are current year earnings retained earnings and shareholders equity Income Income Revenue from the sale of goods or services Cost of Sales Cost of Sales 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 Expense Expense The day to day expenses of running your business for example electricity bills employee wages and cleaning Other Income Other Income Other revenues for example interest earned on savings and dividends paid from shares Other Expense Other Expense Other expenses for example interest charged 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
179. complicated networking preferences beforehand In the Select a service to change its settings list select the Personal File Sharing option The Start button changes to Stop In the Finder move the company file from its present location to the Users share Public folder Continue with Accessing the shared company file from Mac OS X workstations on page 269 Accessing the shared company file from Mac OS X workstations NOTE Using MYOB AccountEdge Network Edition This section is only for users running AccountEdge standard edition If you are using MYOB AccountEdge Network Edition refer to the equivalent procedure in the MYOB AccountEdge Network Edition Implementation Guide Workstations are Macintosh computers that access a company file stored on another computer referred to as a host computer Accessing the remote Public folder located on the host requires you to complete these procedures for each Macintosh workstation on the LAN running Mac OS X e Installing MYOB AccountEdge chapter in the MYOB AccountEdge Getting Started guide to install AccountEdge on Mac OS X e To activate TCP IP on a Mac OS X host or workstation page 267 e To access the remote Public folder Mac OS X below NOTE Ensure optimum networking performance Consider upgrading the operating system to Mac OS X 10 2 5 or later User Guide MYOB AccountEdge experiences reduced network performance with earlier releases To access the remote P
180. cord 0 cece eens 167 Setting billing rates 129 Setting up tax codes 000 170 Creating activities 0 130 Finding a record 0 eee eee eee 172 Creating activity slips 132 8 Contents MYOB AccountEdge 2007 v7 Changing a record Inactivating or reactivating a record Deleting a record Combining records Synchronizing your MYOB cards and your Mac Address Book cards 11 Transactions Finding a transaction Changing or deleting a transaction Reversing a transaction Recurring transactions 12 Printing and customizing reports Quick start Producing reports Printing report batches Customizing reports 13 Forms Finding forms Sending forms Customizing forms Adding and editing elements User Guide Contents 14 Financial control 217 Tracking financial information 217 Budgets i e nd one hukais ese boise aia tedecels 221 Auditing your records 224 Reviewing financial information 226 15 End of period procedures 229 Month end procedures 230 Year end procedures 005 239 Starting a new fiscal year 240 Starting a new payroll year 242 16 Managing user accounts and company files 245 Managing user accounts 246 Back
181. count you use to hold cash wage amounts until they are cleared Check Payments The bank account you use to write paychecks Electronic Payments The clearing account you use to temporarily hold amounts to be paid electronically Employer Expenses The default account that tracks your employer expenses Wages Paid The default account that tracks the gross wages and salaries paid to employees Deductions amp The default account to which the amounts withheld Expenses from paychecks are allocated 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 MYOB AccountEdge 2007 v7 Set up the payroll categories Each paycheck can have up to five categories wages accruals deductions employer expenses and taxes Payroll category Description Wages All monies paid to an employee for labor or services rendered on an hourly salary or other basis Accruals Items such as vacation and sick leave which employees accrue under the terms of their work agreement Deductions Monies withheld by the employer and paid to other organizations on behalf of the employee for example union fees Employer Employer paid benefits for example medical insurance expenses Taxes Amounts withheld by the employer from an employee s paycheck and paid to a federal state or local government It
182. ct the new color and click OK The Text Format window reappears Click OK 214 Chapter 13 Forms 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 Click the add graphic button E in the Customize window and then click the place on the form where it is to be located A new graphic element appears Double click the graphic element The Field Properties window appears Field Properties Pict Field Location Field Size EB 14991 em a 270 AEI FOOT em ae 196 P 1K P Help y Load Paste Cance E0 Click Load The Open window appears Select the graphic file and click Open The Field Properties window displays the graphic in the Preview Picture area Specify the field location and field size for the picture Click OK to close the Field Properties window The picture appears in the Customize window MYOB AccountEdge 2007 v7 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 Open your graphic file in any graphics software Copy the graphic to the clipboard Click the add graphic button 2 in the Customize window Then click the location on the form where you want the graphic to appear A graphi
183. cy of your business records you should keep your record of each bank account balance matched up with your bank s 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 34 To reconcile your bank account Go to the Banking command center and click Reconcile Accounts The Reconcile Accounts window appears In the Account field enter the account you want to reconcile In the New Statement Balance field type or select the closing balance that appears on the statement your bank sent you Month end procedures 233 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 Account 1 1110 Checking Account New Statement Balance 36 425 00 Last Reconciled Date Calculated Statement Balance 31 560 00 Bank Statement Date 9 30 07 Out of Balance 4 865 00 Check All Cleared Transact 1 9 2 07 wL F 9 7107 R000001 9 7 07 3 ions Deposits Withdrawals 1 200 00 any 120 00 5 000 00 1 000 00 2 400 00 gt D gt c a gt CR00000 gt 239 00 gt c T S Pro 24 00 E Bank Entry B Get Statement Total Cleared 0 00 0 00 P kN 2 Help y Print Date 1D Cancel Reconcile d If you want to import bank statement data electronically click
184. d center Timesheets Timesheets are used to record all the hours worked by hourly NOTE Creating a timesheet entry when recording an activity employees and form the basis of their payments If you pay 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 132 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 Before using timesheets you need to set a preference See To set fixed number of hours per pay and you don t pay employees for up timesheets below time billing activities there s 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 1 Goto the Setup menu and choose Preferences The Preferences window appears To set up timesheets When you record timesheet information for a pay period you include the timesheet details in employee pays For more 2 Click the System tab information see Include employee timesheets on page 115 112 Chapter 6 Paying your employees MYOB AccountEdge 2007 v7 3 Select the Use Timesheets for and My Week Starts on
185. d form page 212 5 Save the customized form page 212 6 Print the customized form page 212 MYOB AccountEdge 2007 v7 Step 1 Display the form Step 2 Set up form properties 1 Goto the Setup menu choose Customize Forms and choose the 1 Click the form properties button in the tool palette of the type of form you want to customize The Customize Forms Customize window window appears shana 2 Inthe Form to Customize field select the form you want to SROBNOASO DEC customize and click Customize The Customize window i i The Forms Properties window displays two tabs the Layout tab appears and the Options tab A B C D 555 Canorize Chee E E 1700 2 Inthe Layout tab altala GaP By Layout Check Bi EE EEREEER ah a Specify the number of forms you want to print per page 4 b Select the required type of paper from the Paper pop up list ge oo wg ean c Enter the margins for the page H d Specify the width and length of the form not the paper in the K sede ae Form Size fields If you are printing four checks per 11x17 inch Te a page enter the width and length of a single check and not the i S F E width and length of the 11x17 inch page 3 Inthe Options tab A Tool palette The tool palette provides you with customization tools a Specify the grid options for the form such as whether to B Preview Click the Preview button to view your form display a
186. d to the accounts Instead make adjusting entries on the employee s next pay Changing an employee s pay history on their employee card can also affect the calculation of payroll liabilities To view an employee s pay history Go to the Card File command center and click Cards List The Cards List window appears Click the Employee tab and select the employee whose pay history you want to view Click Edit The Card Information window appears Click the Payroll Details tab MYOB AccountEdge 2007 v7 5 Click Pay History The Pay History section displays the totals of each payroll category for the specified month quarter or year to date e008 Card Information Profile Card Details Payroll Details Payment Details Contact Log History Beringer Charles E4 Personal Details Show Pay History for 3rd Quarter B Wages Category Activity Accruals Base Hourly 2 097 76 gt Overtime 1 5x 0 00 Deductions Sick Pay 0 00 gt Vacation Pay 0 00 Employer Expenses 401K 6 125 87 aie gt Dental Insurance 0 00 Advance Earned Income Credit 0 00 Recurring Pay gt Federal Income Tax 215 99 gt Federal Medicare Tax 30 42 Pay History gt gt Federal Social Security Tax 130 06 gt New Jersey Rate D 49 79 Time Billing New Jersey Disability Insur 10 49 gt New Jersey Health Care 4 20 4 gt New Jersey Unemployment Tax 4 20 we Print E Create New Payroll Category 7 New Help y New Coh
187. delivery option from the Payment Notification Delivery Status list Creating customer credits 81 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 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 amp Credits window reappears For more information see Credit card payments using the MYOB Merchant Account Service on page 55 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 168 To record contra payments Record a payment fro
188. deral payroll tax forms reviewing payroll reports and closing the payroll year 229 Month end procedures 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 Action See 1 Run the Company Data Auditor below 2 Reconcile your bank accounts page 233 3 Review reports page 236 4 Send customer statements page 237 5 Record depreciation page 238 6 Pay payroll taxes page 239 7 Lock the period page 239 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 e display basic information about the company file such as the file name release number location size lock periods last backup date etc e perform maintenance tasks such as backing up your company file and setting lock periods e display bank and credit card account details including the current balance and the date when they were last reconciled 230 Chapter 15 End of period procedures e reconcile your bank and credit card accounts e check your transactions for exceptions and audit trail changes Go to the Accounts command center and click Company Data Auditor The Company File Overview window appears e0e Company Data Auditor CXI Company File Ove
189. detail increase the default value 75 in the Zoom field and press TAB If you want to check your current printer and page settings click Print Setup 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 212 Chapter 13 Forms 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 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 208 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 Go to the File menu and choose Default Fonts The Default Font Selection window appears Click Forms The Change Default Forms Font window appears Choose the font style and size for the printed characters on your forms The sample box previews
190. dge 2007 v7 5 Make the required selections for the payroll category See the following topics for information about the options available for each payroll category type e Wages Information window below e Accrual Information window on page 106 e Deduction Information window on page 107 e Employer Expense Information window on page 108 Click Employee The Linked Employees window appears Select the employees whose pay will include this payroll category then click OK If you are creating e a Wage category click Exempt and select the taxes and deductions that do not apply to the new category e 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 e 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 e 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 Wages Information window Koka Wages Information Wages Name New Wages Category Type of Wages Salary 1 A Hourly Wages Information Pay Rate ea Regular Rate Multiplied by 1 0000 B gt Fixed Hourly Rate of 0
191. 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 didn t enter a default adjustment account enter an account against each item listed Optional Enter a reason for the adjustment in the Memo column for example Annual inventory count 2007 Click Record to update your inventory Tool Description See View history You can view the sales and purchase page 161 transaction histories of an item or vendor for seven years Find Find Transactions helps you find inventory page 182 Transactions transactions Items Register Gives you a list of your inventory transfers page 184 adjustments sales and purchases for all items or it can be filtered to show the history of a single item Transaction Lists journal entries of your inventory page 184 Journal transactions Reviewing your inventory information 159 To view a list of all items that need to be built or purchased The Stock 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 e automatically record a transaction for the items that you need to buy or build e change the details of an order or auto build transaction Click To Do List from any command center The To Do List window appears Click the Stock tab
192. ds 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 1 Go to the Payroll command center and click Payroll Categories The Payroll Category List window appears eoo Payroll Category List Wages Accruals Deductions Expenses Taxes Name Type Allocated Tips Salary gt Base Hourly Hourly Help New Cose edie Creating employee cards To create an employee card Go to the Card File command center and click Cards List The Cards List window appears Click New The Card Information window appears Select Employee in the Card Type field User Guide Click the tab corresponding to the type of payroll category you want to edit Wages 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 Click the zoom arrow s next to the payroll category you want to edit The information window for that category appears Make the required selections for the payroll category See the following topics for information about the options available for each payroll category type e Wages Information window on page 105 Accrual Information window on page 106 Deduction Information window on page 107 e Employer Expense Information window
193. e 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 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 232 Chapter 15 End of period procedures 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 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 Check for job exceptions Cash Transactions If you have selected the Warn if Jobs Are No
194. e If there are unmatched transactions the Unmatched Statement Transactions window appears Go to step 7 e If all your transactions match that s it These transactions will be marked as cleared in the Reconcile Accounts window You can ignore the rest of this procedure User Guide 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 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 When you have finished matching and adding transactions click Done A list of all the transactions that w
195. e Internet select Standard Sale from the Authorization Type list e 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 User Guide NOTE Entering an incorrect Phone Authorization Code A charge may apply if you process a credit card payment with an incorrect phone authorization code Click Authorize The credit card details are sent for authorization and a payment is recorded in your company file regardless 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 e additional authorization details are required such as when credit card holders exceed their purchase limit you need to 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 e the authorization is declined see Declined authorization on page 58 e the authorization is not responding see Timed out authorization on page 59 e you want to void the credit card payment see Voiding MYOB Merchant Account Service credit card payments on page 59 Click OK to close the Applied Payment Details Read Only window 10 Click OK to close the transaction window Credit card payments
196. e Payment 0 Balance Due Days 0 Volume Discount 0 WW Credit Limit amp Hold 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 Display the Card Information window of the vendor or employee Then do the following e Vendor cards click the Buying Details tab e Employee cards click the Payroll Details tab and then click Time Billing Setting billing rates 129 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 eoe Card Information Profile Card Details Payroll Details Payment Details Contact Log History Berringer Charles E4 Personal Details Enter the Time Billing Rate and Cost per Hour applicable to this employee Wages Employee Billing Rate 0 00 ec Cost per Hour 0 00 Deductions Employer Expenses Taxes Recurring Pay Pay History Time Billing gt we Print E Create New Payroll Category 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 Activ
197. e an hour of your time 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 275 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 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 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 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 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 amou
198. e 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 months May to July you can use filters to select just that customer and just those months 200 Chapter 12 Printing and customizing reports 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 Go to the Reports menu and choose Index to Reports The Index to Reports window appears Locate and select the report you want to customize Click Display The Report Display window appears 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 00 Report Display Dated From 9 1 07 To 9 30 07 Redisplay View Screen Report T Bank Register 9 1 07 To 9 30 07 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 To filter reports in the Report Customization window Go to the Reports menu and choose Index to Reports The Index to Reports window appears Locate and select the report
199. e 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 amp loss account 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 In the Spend Money window enter the date amount payee memo and check number In the Account or Name column enter the account to which you want to allocate the transaction Record the transaction Miscellaneous transactions 145 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 EXAMPLE Let s look at an example of how to accept a foreign currency check into a local currency account Our example uses British pounds Let s 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
200. e once it has been created e Create new company file create a company file for your business See the Getting Started guide for more information on creating and activating company files e Explore the sample company experiment with a sample company s data and learn how to use your MYOB accounting software User Guide When you click the help icon 9 online help displays a description of the command center and its various functions 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 e check for product updates e review user manuals and other guides e access software support resources including MYOB Frequently Asked Questions and MYOB Discussion Board e access information about MYOB Business Services and MYOB Solutions Directory and e send us your feedback Note that you need to subscribe to MYOB Product Support to use some of these resources e What s New in this version learn about the new features in this version e Exit close your MYOB accounting software Experiment with a sample company s data Before you create a new company file we recommend that you experiment with a sample company s data We have provided a sample company file called Widgets amp 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 Where
201. e 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 User Guide The following illustration shows the fields for a purchase with an Item layout and a Bill status Item Bill Received Backorder Item Number Description Location Price Disc _ Total Job Tax 3 500 101D3 Print Video Adaptor Location1 20 45 61 35 v M M A Bic D E Fi Gi Hi i Ji K A Bill Type the quantity to be billed Received This field is display only It displays the quantity of items received For more information see Receiving items without a bill on page 90 C Backorder Type the quantity of the item to be placed on backorder An order for this amount will be created automatically when you click Record D Item Press TAB and choose an item from your item list Number E Description A description of the item appears automatically You can change this if you want F 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 153 G Price 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
202. e your fiscal year and start a new fiscal year Step Action See 1 Complete month end tasks below 2 Perform an inventory count below 3 Provide information to your accountant below 4 Enter end of year adjustments below 5 Back up your company file page 241 6 Start a new fiscal year page 244 7 Optimize and verify your company file page 244 Step 1 Complete month end tasks Make sure you complete each of the month end tasks See Month end procedures on page 230 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 158 Step 3 Provide information to your accountant Once you have completed your year end tasks you can send your accounting data to your accountant 240 Chapter 15 End of period procedures 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 258 Step 4 Enter end of year adjustments Your accountant is likely to provide you wi
203. e zoom arrow next to it 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 Finding a transaction 183 1 Goto the Banking command center and click Bank Register The Bank Register window appears KOKS Bank Register Account gt 1 1110 Checking Account Balance gt 19 900 00 Dated From 9 1 07 To 9 14 07 Get Statement pate sre De Payee Account Withdrawal Deposit Balance 9 14 07 cD Tad Mone ansfer 1 1150 500 00 19 900 00 Type ID Date Card Amount Receive Money CR000106 9 14 07 hd 0 00 Account Job Memo Category ad Split Aa Aa E Use Recurring j Help Prin aD 2 Specify the bank credit card or petty cash account you used for the transaction in the Account field 3 Inthe 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 Ifyou want to view a transaction in detail click the zoom arrow gt 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 item s quantities and values appears 1 Goto the Inventory command center and click Items Registe
204. ecify the statement period e If you selected Invoice as the statement type enter an aging date to display invoices outstanding as of that date e If you selected Activity as the statement type enter the statement date range in the From and to fields Type the number of statements you want to print per customer in the Print field 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 209 User Guide Click in the select column L1 next to the customers you are printing statements for Click Print To email a customer statement Go to the Sales command center and click Print Email Statements The Review Statements Before Delivery window appears Click the To Be Emailed tab In the Statement Type field select the type of statement you want to email e Invoice statements list all invoices aged as of a specified date e 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 Specify the statement period e f you selected Invoice as the statement type enter an aging date to display invoices outstanding as of that date e If you selected Activity as the statement type enter the statement date range in the From and to fields Click in the select column L1 next to the cust
205. ecurring transaction elow Alerts i Remind to record this transaction never B Create a recurring transaction from an existing entry page 189 O Automatically record this transaction when due and notify Transaction Edit a recurring transaction page 190 Use the next sequential number as the Invoice _ Use the following as the Invoice no warning for duplicate IDs Delete a recurring transaction page 191 C Save my changes when I record this recurring transaction Record a recurring transaction page 191 h gt elip q Cancel Save Record several recurring transactions page 192 3 Inthe Recurring Transaction Name field type a name to identify the template To create a recurring transaction SCHEDULE THE 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 5 Inthe Starting on field type the date the transaction is first due schedule your car payments monthly for the next 22 months gt Select the transaction frequency from the Frequency list NOTE Pre dated recurring transactions You can save a 1 Enter the transaction details in a transaction window such as the recurring transaction with a start date prior to the system date Sales window if you make regular sales to a customer provided the date entered is within the current fiscal year and is not in a locked peri
206. edit Limit Available Credit 55 000 50 4 673 11 327 39 Currently Past Due Note that any information you enter in a vendor s card takes precedence over similar information entered in earlier steps of the Purchases Easy Setup Assistant T In the Build your vendor list window you can also make changes Expense Account Payment Memo Purchase Comment Shipping Method Vendor Billing Rate Cost per Hour Vendor Terms Information Payment is Due C 0 D Discount Days 0 Balance Due Days 0 a 50 00 50 00 Tax ID Number Tax Code a Tax On Freight Report Payments on 1099 as Discount for Early Payment Volume Discount EXM 5 Exempt Not Taxed 3 Not 1099 9 ox 28 to or delete cards Nev If your vendor information is stored in a spreadsheet or other accounting software you can import that information For Help y New Co information on how to import data see To import data on page 259 A Buying information To create a vendor card 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 B Credit limit and Click New The Card Information window appears tax information Enter details about your vendor You don t have to complete the fields on all of the tabs in this window however we recommend that you enter information in
207. ee step 4 on page 44 fora Receive Money transaction or step 5 on page 74 fora Receive Payments transaction e f 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 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 You ll also see that the Authorize button has been changed to a Void Authorization button If you try to void Credit card payments using the MYOB Merchant Account Service 59 an authorized transaction after the set period the void transaction will be declined and you will have to process a credit transaction To void an MYOB Merchant Account Service transaction Find the credit card payment transaction that has been authorized and approved Click Details to open the Applied Payment Details window Click Void Authorization to start the voiding process Once a payment has been authorized the Authorize button n
208. een paid in full as of the first day of your conversion month 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 Load tax tables Payroll taxes are amounts that are calculated and deducted from employee pays according to the rules established by government taxation authorities User Guide wu w N In the Enter historical purchases for your vendors window click Add Purchase The Historical Purchase window appears Type or select the name of the vendor and press TAB Enter details of your outstanding purchase Click Record 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 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 Tax tables are current at the time we produce your software Tax rates are updated periodically and it s essenti
209. efault receiving and selling location for your items For more information see To create an item on page 148 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 Inthe Location ID field type an identifier of up to ten characters for the new location and press TAB Location ID Warehouse Name New Location Address Notes City State ZIP Country Contact Contact Phone 4 Enter the name and address of the location and contact details 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 154 Chapter 9 Inventory 6 Click OK The new location appears in the Locations List window Search Found 3 Location ID Name gt North St North Store gt Warehouse Distribution Centre gt West St West Store 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
210. eign 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 User Guide 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 Tracking currency gains and losses 143 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 reali
211. eived 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 73 for more information 43 The options for recording receipts and invoice payments are summarized in the following diagram You receive money Is itin response to an invoice you issued 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 Option 2 Record the payment in the Bank Register window Banking command center Type Receive Money Banking command center Type Receive Payment 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 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 F
212. eld 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 Card Type Vendor ra Designation Company F C Inactive Card Name Semisonic Supply Card ID 44641 Currency CAD 5 Click OK Repeat this procedure for each card that you want to assign to a foreign currency e Spend Money Receive Money Reconcile Accounts and General Journal entries MYOB AccountEdge 2007 v7 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 To change the exchange rate Calculate the exchange rate first using the Currency Calculator See Using the Currency Calculator below Click the Rate button at the bottom of the transaction window The Exchange Rate window appears Enter the new exchange rate in the Transaction Exchange Rate field ate 1 677840 1 445300 Z Update the Currency List with Tra GBP 1 00 0 60 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 Click OK Using the Currency Calculator If you receive a payment for a for
213. elds 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 Report Customization Closed Invoices Customers All Custom List 1 Custom List 2 anan an n Custom List 3 Advanced Filters ReportFields Finishing nalaila Faid A Jrone B o v Customer Name g Customer Name Y Dae Clsea Date Closed A Layout Shp va promised Date Original Amount Sl Se B Hip l Pein SendTeyl Format Cancel Display A 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 0 This adds the field name to the Selected Fields column B 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 p
214. elds Information window for all items Three custom fields can be used to record additional information wot z s f j i Printing custom field entries purchases and invoices about your items Examples of how you might name custom fields are Warranty ID No and Manufacturer However unlike custom You can customize your invoices and purchases to include the lists custom fields cannot be used to filter inventory reports custom fields For more information on customizing forms see Chapter 13 Forms on page 205 User Guide Customizing inventory 165 166 Chapter9 Inventor MYOB AccountEdge 2007 v7 p y g 10 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 in
215. elect items by item number and cards by card ID enter the item number or card ID instead Cards List All Cards Customer Vendor Employee Personal Search Eq Q Advanced Found _ Name AV Credit Union S Bas Sa a 4 gt Border Digital None 800 636 5555 Vendor gt Buffalo Systems 100002 718 333 5959 Customer Personal Advanced search filters 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 e items inventory locations e jobs payroll categories tax codes time billing activities MYOB AccountEdge 2007 v7 To change a record 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 Inactivating or reactivating a record If you have accounts cards items inventory locations activities or jobs that you rarely use for example a card you created for a one off sale or purchase inactivating 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
216. eloperPack 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 AirPort Apple AppleTalk Finder iBook iMac Macintosh Mac the Mac logo PowerMac PowerBook QuickTime the QuickTime logo Rendezvous and the Rendezvous logo are trademarks or registered trademarks of Apple Computer Inc registered in the USA and other countries Mac the Mac logo the QuickTime logo and the Built for Mac OS X graphic are trademarks of Apple Computer Inc 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 regis
217. elp y New oo Payroll details are entered by clicking the section names listed on the left side of the window for example Personal Details Wages etc and then completing the fields Click Personal Details and enter the employee s personal details social security number and their residence and work codes ENTER WAGE INFORMATION Click Wages and enter the wage information for this employee a Select the employee s pay basis When you select a pay basis the corresponding payroll category for paying wage amounts is automatically selected in 32 Chapter 2 Setting up your company file 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 employee s annual salary or hourly wage rate c In the Pay Frequency field select the employee s pay frequency d In the Hours in Pay Period field type the number of hours in the employee s normal pay period e If the employee s 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 e00 Card Information Profile Card Details F Payroll Details Payment Details Contact Log History Berringer Charles E2 Personal Details Pay Basis Salary i Wages gt Annual Salary
218. els on page 162 E Ifyou collect sales tax when you sell this item select this option Click the Items Details tab and enter additional information about the item 150 Chapter 9 Inventory 10 If this item is stored in multiple locations click the Locations tab 11 and specify the default location for buying and selling the item For information about locations see Multiple inventory locations on page 153 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 Go to the Inventory command center and click Count Inventory The Count Inventory window appears Click Print The Inventory Count Sheet report is printed with a list of all your items 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 on page 151 MYOB AccountEdge 2007 v7 To enter opening on hand inventory and values Go to the Inventory command cent
219. ement for a vendor whom you haven t designated a 1099 vendor you can enter the amounts you want to print on the 1099 statement for the vendor The changes won t 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 4 Print payroll reports Print the following payroll reports at a minimum e Payroll Register Summary shows the pay history of your employees e 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 employee s card Review these reports to spot potential issues or concerns Look for figures that seem out of the ordinary or unexpected 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 you ve 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 248 Starting anew payrollyear 243 Step 6 Start a new payroll year Starting a new payroll year will e clear the payroll history from the employee cards for the previou
220. en use the report filter to choose which sales territory list you want to display in your report You can open the Custom List amp 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 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 software s installation folder If you move your company file you must move the Graphics folder to the same location to continue displaying the pictures To display a picture Display the required card in the Card Information window or item in the Item Information window Click the Card Details tab or the Item Details tab and double click the picture file area The Picture Information window appears Click Link The Open window appears 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 Click OK The picture appears in the Card Details tab or the Item Details tab MYOB AccountEdge 2007 v7 To replace the picture If you want to replace the displayed picture with another double click the displayed picture and continue with step 3 of the previous pro
221. eneral payroll information page 29 2 Create payroll categories page 104 3 Create a card for each employee page 109 4 Enter payroll information for each employee page 110 103 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 29 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 37 Creating payroll categories An employee s 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 Description Wages All monies paid to an employee for labor or services rendered on an hourly salary or other basis Accruals Items such as vacation and sick leave which employees accrue under the terms of their work agreement Deductions Monies withheld by the employer and paid to other organizations on behalf of the employee for example union fees Employer Employer paid benefits for example medical insurance expenses Taxes Amounts withheld by the employer fr
222. ent G4 processor with 128 Mb RAM or better Protocols e Ethernet 10BASE T twisted pair cable shielded or unshielded or Fast Ethernet 1 OOBASE TX twisted pair cable shielded with TCP IP enabled on all computers e Airport Base Stations built in Airport or Airport cards and Airport control panel 2 0 4 or later When several users 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 e Host the company file on the most powerful computer Users on workstations will enjoy better performance if the company file is stored on the most powerful computer in your network the fastest with the most memory e Host the company file on a backup 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 Then the company file will be backed up along with all your other vital data Continue with Setting up a company file folder on a Mac OS X host below Setting up a company file folder on a Mac OS X host NOTE Using MYOB AccountEdge Network Edition This section is only for users running AccountEdge standard edition If you are using AccountEdge Network Edition refer to the equivalent procedure in the MYOB AccountEdge Network Edition Implementation Guide When you store your company file on a host running Mac OS X you can run MYOB A
223. ent 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 you re unsure about which classification to use consult your accountant or an MYOB Certified Consultant 22 Chapter 2 Setting up your company file 9 Ifyou 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 18 10 If you selected Bank or Credit Card in the Account Type list in step 3 on page 21 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 39 11 If you want to enter historical balances complete the Last FY column on the History tab This
224. 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 leoo Accounts Easy Setup Assistant Enter your opening balances Enter Opening Balances as of 10 1 07 3 If this is the first month of your fiscal year enter amounts for your Asset MMMM ability and Equity accounts only If not enter amounts for all the accounts gt that are shown Il s as i s a Introduction Enter all the balances as positive numbers unless the amount is really a negative balance If an amount is left to be allocated after you ve entered all Accounts List your amounts refer to Help for more information S A Account Number Name Opening Balance Asset Conclusion 1 1110 Checking Account 0 00 0 Payroll Checking Account 0 00 Cash Drawer 0 00 Petty Cash 0 00 1160 Undeposited Funds 0 00 1190 Electronic Clearing Account 0 00 4 1200 Accounts Receivable 0 00 f Amount left to be allocated 0 00 Close lt Back Next gt Setting up accounts 23 2 Check the amount in the Amount left to be allocated field at the bottom of the window e 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 e If this field displays an amount othe
225. eprinted 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 program s installation folder This allows you to share forms among your company files and easily transfer them from one computer to another 205 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 To find forms Go to the appropriate command center for example Sales for invoice forms Find the type of form you want and click the relevant command center function see the following tables e Banking command center Type of form Command center function Checks Print Checks Receipts Print Receipts Payment Notifications Print Email Payment Notifications e Sales command center Type of form Co
226. equired you can obtain additional activations by contacting MYOB b NUMBER OF USERS i Single Site License You may use the Software on only one compu ter 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 pro vided 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 Work station 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 pro vided 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 h
227. er This preference determines how you want elapsed time calculated 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 time that is you are billing in hours you 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 128 Chapter 7 Billing for time Include items on If you selected the I Include Items on Time Billing time billing Invoices preference you can include both activities and invoices 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 Inf
228. er 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 1 completing the Sign on window The user must enter a user ID and password to gain access to the user account Then whenever 2 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 3 vendors or customers for pinpointing fraudulent transactions 4 Administrator account The Administrator account is a default 5 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 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 work
229. er 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 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 If you store your items at multiple locations select the Include Zero On Hand Quantities option A list of all your items appears 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 00 Count Inventory Group by nem Ail a gt Group by Location Include Zero On Hand Quantities Item Number tem Name Location ID Location Name OnHand Counted Difference T0 Widgets Worth st North store o o l Warehouse Distribution Centre o West St West Store o 100 101A5 Printer Cable Generic North Store 3 3 o Distribution Centre o 0 o West Store 15 15 o West St 200 101A5 Printhead Cradle model XR vorth S North Store 12 12 o Warehous Distribution Centre o o o West St West Store o 300 10186 Video Output Cable Generi North St North Store o o Warehouse Distribution Centre o West St West Store 4 4 Help Print Cancel GN When you have entered all your item quantities click Adjust Inventory The Default Expense Account window appear
230. er and click Enter Purchases The Purchases window appears In the Vendor field type the vendor s name or select it from the list Select Bill from the drop down list in the top left of the window Click Layout and select Item In the Bill field type the quantity of the item you are returning as a negative number 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 Click Record A vendor debit memo appears in the Purchases Register window 100 Chapter 5 Purchases Settling vendor debits You can settle a vendor debit in one of two ways e 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 e Receive a refund Use this method to record the receipt of a refund check from the vendor To apply a vendor debit to an unpaid purchase Go to the Purchases command center and click Purchases Register The Purchases Register window appears Click the Returns amp Debits tab Select Vendor from the Search By list Enter the vendor s name in the adjacent field A list of debits for that vendor appears Select the debit you want to apply and click Apply to Purchase The Settle Returns amp Debits window appears listing all open purchases that you have made from the vendor Enter the amount you want to apply to a purchase in the Amount Applied c
231. er jobs not to other detail jobs ESES New Job Job Information D Header Job C Inactive Job Detail Job F Track Reimbursables Job Number MGM 3 o il Sub job Of Percent Complete Job Name Phase 3 of MGM project Start Date Description Work with Smithware and MGM to install Finish Date video studio Manager Contact Linked Customer gt Smithware Dynamics S Y s New Reimburse Foxa Help y 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 customer s behalf 220 Chapter 14 Financial control You can view details of all jobs linked to a customer in the Jobs tab of the customer s card 8 Click OK The Jobs List window reappears fe 0e Jobs List Job Number Name Income Cost Expenses Net Profit Loss MKTG Marketing Departm 0 00 0 00 450 00 450 00 Rental Jobs AV Rental Jobs 32 219 46 1 588 29 5 046 00 25 585 17 gt Business Rental Business Renta 1 000 00 0 00 140 00 860 00 gt Acme Rentals Rentals to Act 1 000 00 0 00 140 00 860 00 gt Hotel Jobs Hotel Rentals 31 219 46 1 588 29 4 906 00 24 725 17 gt MGM 1 Phase 1 of MC 22 709 37 1 478 75 1 262 00 19 968 62 gt MGM 2 Phase 2 of MC 1 045 09 0 00 1 950 00 904 91 gt MGM 3 Phase 3 of MC 1 235 00 69 90 430 00 735 10 gt Radisson Radisson
232. ere cleared appears Importing statements 61 62 Chapter 3 Banking MYOB AccountEdge 2007 v7 4 Sales This chapter explains how to enter information about sales to your customers You record a sale by specifying the customer s 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 Entering a sale in the Sales window the procedure discussed in this chapter allows 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 50 e 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 e An Order is a sale where no services or goods have been Entering a sales transaction delivered While orders don t affect your financial figures Complete the following steps to enter a sales transaction they do affect your committed inventory numbers Orde
233. ereby 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 verifica tion or to replace defective storage media provided you keep the orig inal 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 nec essary 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 dis tribute 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 sing
234. es 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 gt next to it User Guide If you want to view a transaction in detail click the zoom arrow gt next to the transaction To find a recurring transaction using the Recurring Transactions List window Go to the Lists menu and choose Recurring Transactions The Recurring Transactions List window appears fece Recurring Transactions List Sort by Transaction Name search by Transaction Name P Transaction Name Type Frequency Last Posted Next Due Amount Albany Monthly Training Invoice Monthly 6 14 07 10 14 07 250 00 Border Digital Receive Money Monthly 10 15 07 45 00 Edit Schedule E Use Recurring Create Copy Delete x Help y Print Close Em L 2 Locate the recurring transaction You can e sort transactions by name type or frequency e search for a recurring transaction by name amount or due date Making your transactions changeable or unchangeable is a preference you can alter at any time This preference is the Transactions CAN T 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 Changing or deleting a transaction 185 If you want to main
235. ested in the company plus the current year earnings and retained earnings 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 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 vendor s refund check or by applying the amount to another open bill for the same vendor 277 278 Glossar MYOB AccountEdge 2007 v7 y g Numerics 1099 statements printing at year end 243 setting up vendor card to report payments 28 A ABA routing number 22 34 112 account classification 20 Account Information window 21 account levels 20 to track financial information 217 accountant sending data to 240 Accounting 101 guide 11 accounting periods closing 239 locking 230 239 accounts adding 21 168 adjusting to re
236. etting up tax codes on page 170 When you have finished click Next 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 39 When you have finished click Next Setting up purchase details 27 Create vendor cards e00 In the Build your vendor list window enter information about Profle T Border Digital each of your vendors You can choose to enter as little or as much information as you like in these records Purchase Layout Item it Printed Form Accountedge s Plain Papel Purchase Order Delivery To be Printed Card Information Card Details Buying Details Payment Details Contact Log AIP Balance amp gt History 327 39 Cr
237. f balance 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 102 Chapter 5 Purchases MYOB AccountEdge 2007 v7 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 employee s pay such as wages accruals and taxes are called payroll categories These are assigned to an employee s card to calculate their recurring pay When you process pays you can vary an employee s 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 242 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 Action See 1 Enter your company s g
238. f you need to reconcile your bank accounts complete the steps To enter uncleared withdrawals below 1 Goto the Banking command center and click Spend Money The Spend Money window appears Step Task See 2 In the Pay from Account field type or select the bank account 1 Identify uncleared withdrawals and deposits below you want to reconcile 2 Record unelear d Withdrawals and se posts In your below 3 Inthe Check field enter a reference number for the withdrawal company file 3 Reconcile page 36 4 Inthe Date field type the first day of your conversion month For example if your conversion month is April 2007 enter 04 01 07 5 Inthe Amount field type the amount of the withdrawal Step 1 Identify uncleared withdrawals and a deposits 6 Inthe Acct field type or select the bank account you want to s reconcile This must be the account entered in step 2 above Compare your banking source information such as your checkbook and deposit book with your bank statement for the 7 Optional Enter details of the withdrawal in the Memo field period that includes your conversion date If you find transactions 7 eee Spend Money that have not been cleared by your bank as of this date you will Pay from Account 1 1110 Checking Account Balance 20 500 00 need to record their details in your company file Payee Date 4 1 07 For example in March 2007 the month prior to your conversion Amount 59
239. ferences window Inventory tab User Guide If you pay sales tax when you purchase this item select this option Creating items 149 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 Item Information e0e Profile Item Details Buying Details Selling Details History Auto Build A 100 1015 g Widgets g B l Base Selling Price 0 00 F i Collect Sales Tax When Sell This Item E selling unit of Measure each C Number of Items per Selling Unit T Copy From quantity Over 0 000 Over Level A 0 00 Level B 0 00 D Level C 0 00 Level D 0 00 Level E 0 00 e __ evel F 0 00 Nev Help New Eo A 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 C 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 D Set pricing levels for different kinds of customers See Creating custom price lev
240. ffsite Store all your backups in a safe place making your backup preferably away from your office e To check for errors click Check Company File for errors To makea backup of your company file e To prevent error checking click Do not check Company File CAUTION Backups and multi user company files If there are for errors 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 NoTE Maintaining data integrity We recommend checking for errors so that if you need to revert to a backup data integrity is ensured User Guide Backing up and restoring company files 249 4 Click Continue 7 If you want you can change the name of the backup file e If you selected the Do not check Company File for errors 8 Click Save The backup process begins Option GOO eepo helow 9 Label all your backups with enough information to tell you when e If you selected the Check Company File for errors option they were done and where you were up to in data entry for note that the verification process may take several minutes example Friday 5 5 06 or Backup as of 5 5 06 5 When the verification process is complete click OK in the window that appears Restoring a backup company file For more information about checking your company file for The Restore command closes the company file you re currently er
241. fier and press TAB In the Name field type the name of the new item HINT Copy From button Click Copy From to copy another item s 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 148 Chapter 9 Inventory 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 Buy This Item Items you buy that are not for resale and whose quantities and values you don t need to track For example items for office use only Buy This Item Items you buy and sell but whose quantities and I Sell This Item values you don t need to track Buy This Item Inventoried items you buy and sell and whose I Sell This Item quantities and values you want to track l Inventory This Item I Sell This Item Items or services you want to include on an item invoice I Sell This Item Finished goods you manufacture using other I Inventory This Item inventory items l Buy This Item Raw material you inventory and use as a component I Inventory This Item tO build other inventoried items l Inventory This Item Intermediate goods in the process including parts used to manufacture finis
242. fiers you ve assigned to the cards in that group To create identifiers Go to the Lists menu and choose Identifiers The Identifiers window provides a field for each of the 26 letters of the alphabet Enter a description for as many of the identifiers as you want and click OK To assign identifiers to a card Display the required card in the Card Information window Click the Card Details tab and click the Identifiers button Mark the checkbox beside the identifiers you want to assign to the card Click OK 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 employee s last review date You select the fields in the Report Fields tab of the Report Customization window 262 Appendix B More tools 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 territories You th
243. 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 Go to the Accounts command center and click Accounts List The Accounts List window appears 168 Chapter 10 Lists 2 Click New The Edit Accounts window appears e0e Edit Accounts J Profile Current Balance Header Account C Inactive Account Detail Account Account Classification Asset Account Type _ Other Asset ry Account Number Account Name Opening Balance New y New Help q New Budgets eo In the Profile tab specify whether the account is a header account or detail account e 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 e Detail accounts are accounts you can post transactions to They are the accounts that appear in the accounts selection list in transaction windows 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 19 for an explanation of account classifications Enter a number for the account in the Account Number field You can enter any four digit number you like Note t
244. flect work in progress 138 budgets for 221 changing 172 changing account levels 20 classification for statement of cash flows 22 169 creating 21 168 deleting 173 detail 21 168 entering opening balances 23 exporting to CaseWare 258 to other software 257 finding 172 header 21 168 importing 259 levels 20 list of 20 22 multiple currencies tracking 140 new 21 168 opening balances 23 reconciling 233 reviewing 20 setting up 21 transfer money between accounts 51 to foreign accounts 145 types 21 168 undo reconciliation 233 See also bank accounts Accounts command center 24 Accounts Easy Setup Assistant 19 Accounts List window 168 accounts payable paying 95 reconciling at month end 232 reconciling at year end 232 accounts receivable payments 73 reconciling at month end 232 reconciling at year end 232 accrual balances viewing an employee s 125 Accrual Information window 106 accruals employee 31 changing 125 linked wages category 106 payroll categories changing 106 creating 104 deleting 173 viewing 125 activities billing rates setting 129 changing 132 174 creating time billing 130 definition of 130 deleting 132 exporting 257 importing 259 inactivating 132 Activities List window 130 Activity Information window 131 activity slips adjusting book value of work in progress 138 assigning payroll category to 133 changing 135 creating multiple 134 135 single
245. 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 NOTE Volume discount The volume in the Volume Discount field in the Selling Details view of a customer s card applies to a sale in addition to the quantity break price levels you set up MYOB AccountEdge 2007 v7 To name your price levels Go to the Lists menu choose Custom Lists amp Field Names and then Price Levels The Custom List and Field Names window appears Enter names for the price levels These names will appear in the Selling Details view of the Item Information window Click OK To specify price levels and quantity breaks for an item Go to the Inventory command center and click Items List Select the item and click Edit The Item Information window for the item appears 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 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 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
246. for tracking receivables for instance Accounts Receivable New Zealand This account must be assigned the foreign currency and not the U S dollar e 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 e 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 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 If you make foreign purchases Here s a list of the accounts you are likely to need if you make payments to vendors in a foreign currency e Liability account for tracking payables for instance Accounts Payable Hong Kong This account must be assigned the foreign currency and not the U S dollar User Guide e 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 e 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 e Liability account for import duties collected if you re requ
247. formation and provide you with a registration code e 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 User Guide 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 online help and choose Topics gt Reports and forms gt Working with payroll tax forms gt Registering for the MYOB Payroll Forms services gt To enter Payroll Tax Forms registration codes 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
248. ftware 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 on page 258 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 259 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 248 258 Appendix A Importing and exporting data 1 Go to the File menu choose AccountantLink and then Export to CaseWare The Export File window appears 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 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 When you re ready
249. ge 182 Negative inventory You cannot reverse a purchase that will result in a negative on hand inventory count To reverse a transaction Display the transaction you want to reverse See Finding a transaction on page 182 for instructions 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 If you want alter the date and memo Note that you can t change the accounts and amounts After setting up a recurring transaction you can specify that it is recorded automatically if the transaction details are the same each time such as a rent payment Or you can find the appropriate one each time you need to record a transaction alter the details if Reversing a transaction 187 required for example if you make regular sales to a customer and 2 Click Save as Recurring instead of clicking Record The Edit vary the items and record the transaction Recurring Schedule window appears You can make the following transactions recurring sales eens purchases checks deposits and general journal entries Recurring Transaction Name Monthly Carolina Industries Schedule Frequency Monthly fa Starting on 9 14 07 If you want to See Continue indefinitely O Continue until this date X 4 bel gt Perform this of times Create a r
250. ges 50 48 Sick Pay 0 6 5110 Wages Vacation Pay 8 6 5110 Wages 134 62 Base Salary 6 5110 Wages ry Bonus 6 5110 Wages 250 00 C Already Printed Category g amp en Help y Journal Cancel 0K press TAB The payroll category amounts are calculated automatically and displayed in the Amount column User Guide Payroll Category Hours Account Amount Job Base Hourly 32 6 5110 Wages 538 46 0 Overtime 1 5x 26 5110 Wages 50 48 Sick Pay 0 6 5110 Wages Vacation Pay 8 6 5110 Wages 134 62 Base Salary 6 5110 Wages x Bonus 6 5110 Wages 250 00 4 C Already Printed Category x S E Help Journal Cancel E 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 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 Processing your payroll 117 3 Reduce the amount being allocated to the Base Hourly or Base Salary wage category e 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
251. gn purchases See multiple currencies foreign sales See multiple currencies forms adding fields to 213 batch 207 customizing 210 emailing 207 faxing 207 finding 206 printing 207 freight charging customer for 66 paying vendors for 88 G general journal entries 240 exporting entries 257 to CaseWare 258 importing entries 259 from CaseWare 258 See also journal entries Getting Started guide 11 graphics adding to forms 214 changing size of on forms 216 See also pictures H half yearly budgets 223 header accounts 21 168 jobs 219 headers using to group line items in transactions 69 89 help reference resource 12 historical balances 22 purchases 29 sales 26 host computer accessing shared public folder from workstations Mac OS X 269 activating TCP IP protocol on Mac OS X 267 setting up host computer Mac OS X 266 MYOB AccountEdge 2007 v7 setting up Mac OS X shared user account 267 setting up shared public folder on Mac OS X 268 system requirements 266 See also workstations How to Upgrade guide 11 HTML format saving reports in 197 Identifiers using to group cards 261 import file formats for importing statements 60 import log file 260 importing data from CaseWare 259 from Mac Address Book 176 See also synchronizing cards and Mac Address Book from Quicken 259 importing statements file formats supported 60 Get Statement button 61 matching transactions 61 online banking 60 i
252. grid the size of the grid and whether to use the on screen snap to grid feature for aligning fields C Layout list Select the required layout for a check stub b Specify the background for the form by clicking Insert Check forms only Background and selecting the image file to use as the form s D Datafields Data fields contain system generated background information c If you have chosen a background image specify where the image is to be displayed on the form NOTE 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 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 4 Click OK User Guide Customizing forms 211 Step 3 Adding and editing elements Add remove or edit elements such as text graphics and lines according to your needs For more information see Adding and editing graphic elements on page 214 Step 4 Preview the customized form At any time during the customization process you can display a screen preview of your work Click the Preview button in the tool palette of the Customize window T oN aN oB Layout Check The form is displayed in the Print Preview window If you want to view the form in more
253. hat may be needed When you start a new fiscal year e The previous fiscal year s monthly totals for all accounts are changed to last year categories If last year amounts already existed those amounts will be replaced e The balance of your current year earnings account is transferred to your retained earnings account e The balances of your income cost of sales expense other income and other expense accounts are returned to zero e 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 Starting anew fiscal year 241 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 253 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 Starting a new payroll year Complete the tasks below to close your payroll year and start a new payroll year Step Action See 1 Process the last paychecks for the year below 2 Print year end payroll forms below 3 Print vendor 1099 statements page 243 4 Print payroll reports page 243 5 Back up your company file page 243 6 Start a new payroll year page 244 7 Optimize and verify your company file page 244 242 Chapter 15
254. hat 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 MYOB AccountEdge 2007 v7 Press TAB and type a name for the account You can give an account any name you like Click the Details tab If you want type a brief description of the account in the Description field 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 displayed in the section of the report you specified If you re 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 NoTE Multiple currencies preference You will need to have indicated that you deal in multiple currencies in your preferences See Setting up preferences on page 18 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 ta
255. 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 186 Go to the Banking command center and click Spend Money The Spend Money window appears Choose the checking account from which you want to void the check In the Check field type the number of the check you want to void Leave the Amount field and the account allocation fields blank Click Record then click OK to confirm that you want to void the check To record ATM withdrawals Go to the Banking command center and click Spend Money The Spend Money window appears Select the account from which you withdrew money User Guide In the Check field enter a phrase to describe the withdrawal That way you will know the transaction isn t 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 Complete the other fields in the window Click Record To record Internet 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 95 Go to the Banking command center and click Spend Money The Spend Money window ap
256. he secondary card is deleted To combine two cards Go to the Card File command center and click Cards List The Cards List window appears Select the primary card Click Combine Cards The Combine Cards window appears Combine Cards Warning Be careful when combining cards This action cannot be reversed if you remove the wrong card restore your most recent backup and enter any transactions that occurred after the Transactions will be transferred from the obsolete secondary card to the card you will continue to use the primary card After combining cards is completed the secondary card will be deleted Secondary Remove all transactions from Primary Move all transactions to g gt Acme Sales Inc 3 1000c Help y Cancel The primary card appears under the Primary Move all transactions to list If necessary you can choose another primary card from the list Select the secondary card from the Secondary Remove all transactions from list User Guide CAUTION The next action cannot be undone Before continuing check that you ve 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 Click Combine Cards In the next confirmation window click OK to confirm you want to combine the two cards Combining accounts You can only combine accounts that are e l
257. he 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 User Guide To receive a refund check Go to the Purchases command center and click Purchases Register The Purchases Register window appears Click the Returns amp Debits tab Choose Vendor from the Search By list Enter the vendor name in the adjacent field A list of debits for that vendor appears 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 amp Debits window Click Record to record the refund check 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 Deleting finance charges If you enter a finance charge in the Pay Bills window two transactions are recorded e the full vendor payment including the finance charge is recorded in the disbursements journal and e atransaction 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 Adding finance charges paid 101 Payables Reconciliation Summary report may show an out o
258. he Payroll Earnings report provides details of paychecks recorded Click Display Payroll Earnings to print the Payroll Earnings Dispiay payroll Earnings Report Print Payroll Earnings lt Back GFinish a 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 MYOB AccountEdge 2007 v7 Payroll liabilities A payroll liability is an amount withheld from an employee s 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 To pay your payroll liabilities Go to the Payroll command center and click Pay Liabilities The Pay Liabilities window appears KOKS Pay Liabilities Pay from Account 1 1110 5 Checking Account Balance 20 400 00 D Group with Electronic Payments Vendor Check No 1210 Payee S Payment Date 10 1 07 5 Total Payment 0 00 Memo Payroll Liabi
259. he 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 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 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 230 224 Chapter 14 Financial control 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 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
260. he 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 To create a check transaction to record cash wages 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 e008 Spend Money Pay from Account T 1110 S Checking Account Balance 20 400 00 O Group with Electronic Payments Acct Name Amount Job Memo 1 1120 _ Payroll Checking Account 1 090 40 Total Allocated 1 090 40 1 090 40 Pay Out of Balance 0 00 2 Currency USD Category 122 Chapter 6 Paying your employees In the Pay from Account field select the bank account from which you withdrew the cash wage amount Click Record to clear the balance of the cash wage clearing account The Process Payments window appears Step 6 Print the Payroll Earnings report When you have finished printing checks and processing payments click Next The Print Payroll Earnings window appears Process Payroll T
261. hed goods As you select the options fields appear next to them These fields change according to the combination of selections you make MYOB AccountEdge 2007 v7 6 Enter the appropriate accounts in the fields that appeared during the previous step Account Description 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 Cost of Sales Type or select the account you want to use to track Account the costs associated with producing this item Income Account for Type or select the account you want to use to record Tracking Sales the income you receive from the sale of this item Asset Account for Item Inventory Type or select the account you want to use to record the total value of this item 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 Expense Account for Type or select the account you want to use to record Tracking Costs costs
262. hip to BB Widgets cry N Order Delivery Status To be Printed a Balance Due 0 00 N save 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 To convert a quote to an order or a bill Go to the Purchases command center and click Purchases Register The Purchases Register window appears 2 Click the Quote tab 92 Chapter 5 Purchases Enter the purchase date and your order number In the Ordered field type the quantity you ordered This can be more than the quantity received In the Received field type the quantity received In the Item Number field type or select the item If you keep items at multiple locations type or select the location where you received the items Note that the Location field appears only if you have set up multiple locations 10 If you have purchased the items before the last cost price will 11 3 appear in the Price field by default If you want to enter a different cost estimate in this field 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 vendor s bill you need to convert the order to a bill For more information see To convert
263. ing a shared company file on a host computer optimize the company file on the host Optimizing a company file requires single user access Open the company file to be optimized Go to the File menu choose Optimize Company File and click OK If an optimization recovery file exists we recommend that you click Yes to retain a copy of it Then click OK 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 252 Chapter 16 Managing user accounts and company files 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 253 Open the company file to be purged Create
264. ing accounts to reflect work in progress 138 changing 172 entering a start time before current system time 134 including items on invoices 128 invoices 136 137 preferences 128 rounding time 128 setting billing rates for activities 129 timer 133 134 resetting 134 using special billing units 128 work in progress 138 timesheets changing details during pay run 116 employee hours entering 113 entering details 113 excluding from a pay run 116 including in a pay run 115 paying employees from 115 report 116 setting up 112 in the Easy Setup Assistant 34 time billing information entering 112 unpaid hours clearing 114 deleting 114 reporting 116 To Do List making vendor payments from 94 97 setting up reminders 261 To Do List menu command centers 15 tool palette 211 213 Transaction Journal window 184 transactions adding from bank or credit card statement 61 changing 185 186 creating recurring 188 deleting 185 186 finding 15 182 184 identifying user who entered 246 importing 259 from bank or credit card statement 61 Pay Bills transactions 259 matching during statement importing 61 recapping 48 66 recurring 189 reversing 187 types that can be imported 259 unchangeable 186 187 Transactions CAN T be Changed They Must be Reversed preference 187 transfer inventory See building items Transfer Money window 51 transferring money 51 troubleshooting problems 12 U unchangeable transactions 186 187 uncleared transact
265. ing by 43 grouping MMAS payments with undeposited funds 74 MYOB AccountEdge 2007 v7 handling a chargeback 54 paying 55 using MMAS 56 printing MMAS receipt 75 purchases 54 recording purchases 54 voiding MMAS payments 60 credit card statement adding transactions from 61 matching transactions with 61 credit control credit holds 77 credit limits 76 credit terms 64 setting default 25 finance charges 78 Credit Limit amp Hold window 76 Credit Limit Override Password window 77 credit limits password changing 77 prevent recording sales if customer exceeds 77 setting 76 warn if customer exceeds 76 credit note 80 credit terms changing when recording a purchase 86 changing when recording sales 64 default 25 27 creditors See accounts payable credits See customer credits Currencies List window 140 currency accounts 140 calculator 143 new 140 See also multiple currencies currency calculator 143 Currency Information window 140 User Guide custom fields recording card details using 262 recording item details using 165 custom forms adding graphics and logos 214 custom checks 211 data fields 213 drawing lines on 215 drawing rectangles on 215 elements 216 page properties setting 211 previewing 212 printing 212 removing elements 214 216 resizing elements 216 saving 212 size of 211 tool palette 213 custom lists creating 262 filtering inventory reports with 165 grouping items with 164 printing on purchases and i
266. ing 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 file s attributes by right clicking the file choosing Properties and clearing the Read only checkbox 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 e If no errors were found click OK to end the verification process e If your company file is corrupt you can Attempt to fix the company file by optimizing it see Optimizing your company file on page 252 and repeat from step 1 above to check if the errors have been fixed Restore the company file from your most recent backup see To restore a backup on page 250 Click OK Servicing your company file 251 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 To optimize a company file CAUTION Optimizing multi user company files If multiple users are access
267. ing up and restoring company files 248 Servicing your company file 251 Special considerations for networked company files 253 A Importing and exporting data 257 Exporting data 0 eee eee eee 257 Exporting to and importing from CaseWare 258 Importing data 0 eee eee 259 B More tools 261 More tools for organizing your day to day tasks 261 C Networking company files 265 Preparing company files for multiple users 265 Setting up the network hardware 266 10 Setting up a company file folder on a Mac OS X host 0005 266 Accessing the shared company file from Mac OS X workstations 269 Glossary 271 Index 279 Contents MYOB AccountEdge 2007 v7 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 Manuals Users of MYOB accounting software receive the following reference materials Get
268. inted stationery type the number of the first receipt in the Number of First Receipt in Printer field Type the number of receipts you want to print in the Print field Printing payment receipts 75 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 209 Click in the select column l next to each receipt you want to print Click Print Credit control In your MYOB accounting software you can control credit by e setting and enforcing customer credit limits see Credit limits below e placing customer accounts on hold see Credit holds on page 77 e adding finance charges to customer statements see Finance charges on page 78 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 24 or set a specific credit limit for a single customer If you want to enforce credit limits you can set preferences to e warn users before recording a sale that will exceed a customer s credit limit prevent certain users from recording a sale that will exceed a customer s credit limit When you use this preference you set an override password to allow approved users to record the sale 76 Chapter 4 Sales For more information about printing and customizing forms see Sending for
269. ion Limit may be one of the following choices No Limit signifies no limit on the amount of money that can be deducted from the employee s 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 employee s 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 employee s gross wages up to 1 500 per year Creating payroll categories 107 Employer Expense Information window If you are creating an Other expense type Expense Basis can be e 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 e 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 Wage
270. ions matching 61 undeposited funds deleting transactions 173 186 grouping account transactions with 44 cash transactions with 74 payments 44 74 preparing bank deposit of 45 Undo Last Reconciliation window 235 unpaid invoices sending reminders 261 Use Recurring button 191 user accounts creating 247 listing active users 253 managing 246 MYOB AccountEdge 2007 v7 maximum licensed number reached 254 passwords 247 purpose of 246 restricting access to windows and functions 248 See also administrator account user IDs See user accounts v vendor debits creating 99 deleting 185 recording 99 refund checks 101 settling 100 vendor number entering default for an item 149 vendors bank information for 40 billing rates setting 129 bills entering 85 paying 95 payment notifications 95 cards creating 28 credit terms changing when recording a purchase 86 User Guide debits deleting 185 recording 99 refund checks 101 settling 100 discounts early payment 97 volume 87 entering discounts 97 grouping MVP payments in the Electronic Clearing Account 98 orders 85 paying 47 95 several bills at once 97 payment notifications 95 pending MVP payments processing 98 purchase history viewing 95 purchases 85 quotes 85 recording order received from 85 resubmitting failed MVP payments 98 updating cards for MVP 40 who are also customers 82 verify company file 231 251 View Contact Log window 261 voiding a
271. ions and features of your MYOB software including those used infrequently It also includes helpful information for solving common bookkeeping problems To display online help e In any window other than command center windows click the Help button 7 and choose Help for This Window e Choose 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 If you want to Topics e see descriptions of new features e find procedures for setting up the software managing company files and managing user accounts e find procedures for performing daily and end of period tasks e find procedures for printing reports and forms and importing and exporting data e see a glossary of terms Site Tools learn how to use online help e find overviews of functions e set the size of the help window Search locate topics by keywords Searches can be as widely or as narrowly defined as you like 12 Chapter 1 Introduction Help in MYOB windows Opening online help from any window other than command center windows displays descriptions or procedures relevant to that window Click Help button 7 and choose Help for This Window Tell Me How Tips amp Troubleshooting or Search the Help Help Print Help for This Window To count inventory items z To enter the item
272. ions journal entries sales purchases checks below window deposits vendor and customer payments Sales Register 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 customer s name Purchases Register transactions relating to purchases suchas page 183 open closed and recurring purchases quotes orders debits and returns This search method is most useful if you know the transaction date or the vendor s name Bank Register spend money pay bills receive payments page 183 and receive money transactions Items Register inventory item transactions over a page 184 particular date range This includes inventory adjustment build item and auto build transactions Transaction any transaction by source journal page 184 Journal window Recurring recurring transactions You can sort page 185 Transactions List transactions by name type or frequency or window search for a transaction by name amount or next due 182 Chapter 11 Transactions To find a transaction using the Find Transactions window From any command center click Find Transactions In the Find Transactions window click the appropriate tab for example the Card tab to search by card Filter your search using the Search By and date range fields For example to search for all transactions made on
273. ired 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 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 143 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 Step 4 Assign accounts to foreign currencies Go to the Lists menu and choose Currencies The Currencies List window appears Click the zoom arrow beside the currency you want to assign to one or more accounts The Currency Information window appears Setting up multiple currencies 141 3 Select the required tab Click either e the Receivable Accounts tab if customers pay you in this currency or e the Payable Accounts tab if you pay vendors in this currency Enter the relevant accounts in the appropriate fields In the bottom section of the window mark the options that apply to yo
274. 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 e 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 don t need to use as report filters 162 Chapter 9 Inventory 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 If you want to e update the items you marked in step 2 click Update X Items Only e update the prices of all items click Update All Items e 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 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
275. 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 e 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 e 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 User Guide uncleared deposit for 500 and an uncleared check for 1 000 your cashbook balance is 20 500 that is 21 000 500 1 000 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 34 To enter opening balances Enter the account opening balances in the Opening Balance column NoTE You should enter opening balances as positive numbers Don t for example
276. 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 change the price of an item Go to the Inventory command center and click Set Item Prices The Set Item Prices window appears e028 Set Item Prices Item Number Name Avg Cost Current Price 100 101A5 Printer Cable Generic 9 0442 25 00 200 101A5 Printhead Cradle mor 8 0594 45 00 300 10186 Video Output Cable 26 75 75 00 400 101 Video Input Adaptor 5 2249 75 00 500 101D3 Print Video Adaptor 20 4507 83 00 600 101G8 Print Video Card 13 8943 99 00 700 101U7 Ribbon Turnout mod 30 7765 117 00 800 101R9 Ribbon Cartridge m 61 4544 133 00 B 491 Print Video Tray mod 51 3782 105 00 Bike Bike hire 1 75 tester test 0 00 0 00 tester2 test2 0 00 0 00 VK100 Video Card Kit 85 696 215 00 X123 Transistor 1 0842 10 00 X124 Transistor Socket mc 0 4567 1 05 5 y B blo Help Print Shortcuts Last Cost Avg Cost ba OK 9 am User Guide this report to HTML and post your price list on an intranet or Internet site To view sales and purchases history for an item Go to the Inventory command center and click Items List The Items List window appears Click the zoom arrow lt gt next to the item you want to view The Item Information window appears If
277. items 89 purging data 252 Q quantity breaks inventory 163 quarterly budgets 223 Quicken importing data from 259 quotes converting to a purchase order 71 to orders or bills 92 to orders or invoices 70 customer 63 vendor 85 rates setting time billing 129 realized gains and losses tracking sales and purchases 144 transfers 144 recapping transactions 48 66 receipts printing 75 receipts printing MMAS credit card payments 75 Receive Money window 44 Receive Payments window 74 MYOB AccountEdge 2007 v7 receiving money 43 49 cash payments 43 check payments 43 credit card payments 43 customer payments 73 definition of 43 exporting transactions 257 grouping with undeposited funds 44 74 importing transactions 259 invoice payments 73 receipts 75 receiving payments grouping with undeposited funds cash transactions 44 74 credit card 74 MMAS credit card 74 importing transactions 259 recording in the Bank Register window 49 reconciled transactions deleting 186 reconciling bank accounts 233 for the first time 34 out of balance amounts correcting 234 payables 232 receivables 232 Record Journal Entry window 240 adjustments manual 240 records active 173 adding 167 using Easy Add 169 changing 172 creating 167 deleting 173 186 inactivating or reactivating 173 rectangles drawing on forms 215 recurring transactions accessing 189 automatic recording 189 changing 190 User Guide checks 4
278. ities are primarily defined by their type hourly or non hourly and whether they are chargeable or non chargeable 130 Chapter 7 Billing for time 3 1 In the Cost per Hour field enter the hourly cost to you of having the vendor or employee perform the activity 4 Click OK To create an activity Go to the Time Billing command center and click Activities List The Activities List window appears MYOB AccountEdge 2007 v7 2 Click New The Activity Information window appears Activity Information Profile Activity ID C Inactive Activity Activity Name Type Hourly D Non hourly Status Chargeable D Non chargeable Rate Use Employee Billing Rate D Use Customer Billing Rate D Use Activity Rate Nev Help New 3 In the Profile view enter an ID for the activity in the Activity ID field and press TaB 4 Inthe Activity Name field type a name for the activity 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 User Guide 7 9 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 Do this Hourly Chargeable Choose the billing rate you want to use The rate is
279. k the company file create an alias and drag the alias to the desktop Next time you start the computer double click on the company file s alias to open the shared file In Mac OS X 10 2 open the System Preferences application and click Login Items Click the user account in the left pane then click the StartUp Items tab Finally drag the network disk icon from the desktop into the StartUp Items tab and close the Accounts control panel Login Items control pane In Mac OS X 10 2 270 Appendix C Networking company files MYOB AccountEdge 2007 v7 account An account provides a means for grouping similar transactions You can assign transactions to eight account classifications e Asset e Liability e Equity e Income e Cost of sales e Expense e Other income e Other expense Accounts can be a 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 Glossary 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 account number The account number ide
280. l Details Payment De Berringer Charles E4 Card Type Employee Find Transaction dividul Last Name Berringer First J Help for This Window erage Tell Me How gt MYOB AccountEdge 2007 v7 2 Setting up your company file This chapter shows you how to set up your preferences accounts sales purchases payroll and bank accounts You don t 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 e alist 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 Customize Customize your preferences page 18 from the command center windows Assistant Tasks performed See Accounts Create accounts and enter opening balances page 19 Easy Setup Assistants for guided setup tasks Yo
281. lay a list of all your orders If you want to view details about a specific order click the zoom arrow lt gt next to the order Select the orders you want to convert to bills by marking the select column L1 Click Record as Actual 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 Click OK Changing the status of a purchase 93 Reviewing your purchases information There are several tools that you can use to review your purchases information Tool Description See To Do List The To Do List window displays all open below purchases recurring purchases and orders sorted by due date Analyze The Analyze Payables window provides details below Payables of your purchase activities Purchase Purchase reports help you keep track of your page 95 reports purchase activities Purchase History lets you view seven years of purchase page 95 history history for an item or a vendor Find Find Transactions helps you find purchase page 182 Transactions transactions quickly Purchases The Purchases Register window gives you a page 183 Register complete picture of your purchase activity open and closed purchases orders quotes returns etc Transaction The Transaction Journal lists journal entries of page 184 Journal your purchases and other transactions To view a list of all unpaid purchases sorted by days
282. layout setting up default 27 purchase orders 85 entering from sales window 86 purchases additional information about entering 88 applying a vendor debit to an unpaid purchase 100 assigning job to 87 changing credit terms when recording 86 changing status of 92 choosing type of 87 creating a debit 99 credit card 54 credit terms entering 27 86 customizing form layout 210 deleting 186 emailing purchase forms in a batch 207 individually 89 entering 85 exporting 257 from overseas vendors See multiple currencies grouping MVP payments in electronic clearing account 98 headers adding 89 historical purchases entering 29 history viewing 95 importing 259 inserting blank lines in 89 layout 27 line items on entering 87 linked accounts for 27 orders 85 paying 95 payment notifications 207 pending MVP payments processing 98 printing 89 custom lists of 165 in a batch 207 printing purchase orders 207 purchase activity viewing 183 quotes 85 receiving items without a bill 90 recording 85 89 in the Bank Register window 49 recurring 89 reports 95 reversing 99 reviewing purchase information 94 saving as a PDF file 89 sending 207 setting up purchase details 27 subtotals adding 90 viewing list of unpaid purchases 94 160 Purchases Easy Setup Assistant 27 Purchases Register window finding transactions 183 viewing purchases 94 Purchases window 86 89 showing subtotal of line items 90 using headers to group line
283. le and view the list of active users go to the File menu and choose Active Workstations 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 Special considerations for networked company files 253 Single user file locking prevents all but the first logged in user from accessing a shared company file other 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 e backing up a company file e restoring a backup file e company file verification e purging data e exporting data e importing data e starting a new fisc
284. le person or entity Transferee provided that i you either transfer to the Trans feree 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 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 Soft ware 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 documen tation CONTINUING FULLFILMENT If MYOB elects in its
285. lear a timesheet for a week 1 In the Enter Timesheet window select the employee and the required week 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 114 Chapter 6 Paying your employees Click Clear Timesheet All unpaid details for the selected week are cleared To delete a timesheet line entry In the Enter Timesheet window select the employee and the required week Click in the line entry you want to delete Choose Delete Line from the Edit menu View timesheet reports Go to the Reports menu and select Index to Reports Click the Payroll tab and select e Timesheets to view timesheets entered for a specific week e Unprocessed Timesheets to view unprocessed timesheets For information about how to view and customize reports see Producing reports on page 178 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 day for example when your weekly and monthly pay dates coincide y
286. line Error Notification window you should reverse it and handle the payment in a different way You can select and reverse a transaction directly MYOB AccountEdge 2007 v7 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 L1 and click Record Only Creating vendor debits A vendor debit is money that a vendor owes you 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 168 You can create a vendor debit in one of two ways e Reverse an existing purchase Use this method if you have been debited for the entire purchase e Manually create a debit Use this method if you have been debited for part of a purchase To reverse an existing purchase Your company file transactions must be set to unchangeable before you can reverse a purchase that is the Transactions CAN T be Changed They Must be Reversed option must be selected in the Security tab of the Preferences window Find and display the purchase See Finding a transaction on page 182 User Guide NOTE Error messages There are several reasons why a transaction may not be processed successfully insufficient funds incor
287. lities Payments Liability Type All p Payroll Categories Ail g Dated From 9 24 07 B Dated To 9 30 07 B Payroll Category Amount C Already Printed Total Payment 0 00 gt n amp Help Print Journal Cancel Record Specify how the payment is to be made If you are paying the vendor electronically using MYOB Vendor Payments select Group with Electronic Payments In the Pay from Account field type or select the account you are making the payment from User Guide In the Vendor field type or select the authority or agency to whom the withheld amount is being paid Select the type of liability you are paying from the Liability Type list Liability Type v All Deductions Expenses Dated From Taxes By default all payroll categories for the selected liability type are included in the payment If you do not want to include all payroll categories a Click the search icon g in the Payroll Categories field The Select from List window appears b Deselect categories by clicking in the select column _ next to each payroll category you want to exclude c Click OK The Pay Liabilities window reappears 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 Click in the select column L1 next to the
288. lized 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 261 the letters and your contacts card file information into your word processing software where you can print them For more information see online help Setting up reminders using the To Do List 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 reminder except for overdue payments owed to you places 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 in any command center and click the Help button 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 identi
289. ly payment discounts giving 74 receiving 97 expiring alert 261 reversing customer payments with 187 volume discounts giving 65 receiving 87 early payment discount 74 Easy Setup Assistant 17 Easy Fill 18 Edit Accounts window 21 168 Edit Recurring Schedule window 188 eFile service 40 electronic clearing account grouping MVP payments in 98 processing pending MVP payments 98 setting up for MDD and MVP 39 Index 281 electronic payments See MYOB Direct Deposit MDD MYOB Merchant Account Service MMAS and MYOB Vendor Payments MVP emailing payment notifications 207 purchase forms 89 reports 197 sales forms 66 statements 237 employees accrual balances viewing 125 activity slips including in pay 116 analyzing payroll 125 bank details 34 40 112 billing rates setting 129 bonuses 115 cards 31 109 167 cash payments 120 check payments 120 commissions 115 electronic payments changing bank details for current pay 119 hours worked entering 117 pay details editing 116 viewing 117 pay history entering 33 112 viewing 124 paying 114 122 payment method 34 112 payments changing deleting or reversing 120 payroll information analyzing 125 entering 110 viewing 124 payroll liabilities clearing 123 paying 123 reviewing 126 printing paychecks and sending payments 120 282 index recurring pay entering 111 removing from the Process Payroll assistant 115 resubmitting failed MDD payments 122 sale
290. m the customer as follows a In the Receive Payments window type or select the Contra Suspense account in the Deposit to Account field b In the Customer field type the customer s name or select it from the list c Enter the amount that you need to offset against an invoice 82 Chapter 4 Sales 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 vendor s 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 MYOB AccountEdge 2007 v7 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 168 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 customer s name User Guide e In the Description field type a description of the transaction f I
291. mber that number is subtracted from your on hand inventory MYOB AccountEdge 2007 v7 D 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 E The Amount field displays the quantity multiplied by the unit cost If you change it the unit cost is recalculated automatically F The allocation account is usually a cost of sales or expense account 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 800 Item Number Location ID Quantity Unit Cost Amount Account Job Memo 100 Location1 2 400 00 800 00 6 1150 Multiple inventory locations If you hold inventory at multiple locations you can keep track of item quantities held at each location by recording e the location at which a purchased item is received see Entering purchases on page 85 e the location from where a sold item is shipped see Entering sales on page 63 e the movement of items between locations see To record inventory movements on page 154 The multiple locations feature is optional If you don t track inventory quantities and values or all your inventory is held at one location there
292. mer s 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 The monthly charge is calculated by multiplying the amount overdue by the Monthly Charge for Late Payment value you specified in the customer s 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 78 Chapter 4 Sales 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 sta
293. mission 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 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 For each declined transaction verify the employee s bank information Correct any errors and retransmit the transaction for processing or change the payment to a printed paycheck 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 Processing your payroll 121 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 L1 next to the payment reversal a negative number in t
294. mited or comma separated 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 253 User Guide Go to the File menu choose AccountantLink and then Import from CaseWare The Open window appears 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 file readable by most word processors that lists the problems encountered during the import 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 258 If you are importing from Quicken For information on how to import Quicken QIF transactions into your MYOB accounting software see online help To import data Before you start the import process you will need to export the data you want from the program you ve used to create the data The data you want to import must be stored in a tab delimited or comma separated file format Go to the File menu choose Import Data and then choose the type of data you want to import
295. mmand center function Sales Print Email Invoices Packing slips Print Email Invoices Labels Print Email Invoices Statements Print Email Statements Receipts Print Receipts 206 Chapter 13 Forms e Purchases command center Type of form Command center function Purchases item service and Print Email Purchase Orders professional Checks payable Print Checks 1099s and 1096 Print 1099s and 1096 Payment Notifications Print Email Payment Notifications e Payroll command center Type of form Command center function Paychecks Print Paychecks W 2s and W 3 Prepare Payroll Tax Forms e Card File command center Type of form Command center function Mailing labels Print Mailing Labels Personalized letters Create Personalized Letters MYOB AccountEdge 2007 v7 Sending forms You can send forms when you record a transaction or later as a batch Sending forms immediately You can print email or fax forms in the Sales and Purchases window iS G Help Print Semd Te Journal Layout Register Email Fax Disk You can print or email payment notifications or checks in the Spend Money Pay Bills or Settle Returns amp Credits window nf G Help Printe Journal Register Cancel Record Print Check Print Payment Notification Sending forms in a batch You can send or email purchase transactions sales transaction
296. mple 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 Choose a report batch for printing and click Print Each report in the batch is printed To change a report batch Go to the Reports menu and choose Report Batches The Report Batches window appears Select the batch you want to change and click Edit The New Edit Batch window appears Change the batch name if necessary and the reports contained in the batch Click a report to select or deselect it Click OK to save your changes To delete a report batch Go to the Reports menu and choose Report Batches The Report Batches window appears Select the batch you want to delete Go to the Edit menu and choose Delete Batch Printing report batches 199 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 report s 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 Action See 1 Select the data to be printed below 2 Specify the required fields page 201 3 Select finishing options page 202 4 Change the report format page 202 5 Print the report page 202 6 Save the report page 203 Step 1 Select th
297. mple 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 customer s card or when recording a sale When you have finished click Next 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 MYOB AccountEdge 2007 v7 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 170 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 Set up linked accounts for sales Review the default accounts that will be used to track your customer receipts a
298. ms on page 207 and Customizing forms on page 210 To set or change the credit limit for a single customer Go to the Card File command center and click Cards List The Cards List window appears Click the Customer tab and select the customer for whom you want to set a credit limit Click Edit The Card Information window appears Click the Selling Details tab Click Credit Limit amp Hold The Credit Limit amp Hold window appears Type the customer s credit limit in the Credit Limit field Click OK The Card Information window reappears Click OK to return to the Cards List window To receive a warning when a customer exceeds the credit limit Go to the Setup menu and choose Preferences The Preferences window appears MYOB AccountEdge 2007 v7 2 Click the Sales tab To place a customer on credit hold 3 Select the If the Credit Limit is Exceeded on Sale preference and 1 Goto the Card File command center and click Cards List The choose Warn and Continue from the list Cards List window appears 4 Click OK 2 Click the Customer tab and select the customer whom you want to place on credit hold To prevent the recording of a sale when a customer exceeds the credit limit 3 Click Edit The Card Information window appears 1 Log in to your MYOB accounting software as the Administrator 4 Clickthe Selling Details tab 5 Click Credit Limit amp Hold The Credit Limit amp Hold window appears 2 Goto the Setup
299. n 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 re enter and re reconcile the transaction in that reconciliation period you can undo a previous reconciliation For more information see Undoing an account reconciliation below a Re enter the transaction in your company file b Select it for reconciliation 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 User Guide 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 CAUTION 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 To undo an account reconciliation Go to the Banking command center and click Reconcile Accounts The Reconcile Account
300. n of the payment you are recording 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 Click Record to record the credit card payment 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 User Guide Account Service see Setting up MYOB Business Services on page 37 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 59 Credit card payments using the MYOB Merchant Account Service 55 Processing credit card payments using MYOB Merchant Account Service You can process credit card payments for the following transaction types e receive money receive payments e sales invoices and orders e sales returns and credits With the MYOB Merchant Account Service you can authorize your customers payments immediately by using the Automated Clearing House ACH to clears credit card transactions for payments If you do not use the card swipe feat
301. n 50 bank service charges recording 234 bank statements adding transactions from 61 importing 60 formats supported 60 reconciling 233 out of balance amounts correcting 234 billing for time See time billing billing rates setting for activities 129 customers 129 employees 129 vendors 129 bills grouping MVP payments in the Electronic Clearing Account 98 280 Index paying 95 96 several at once 97 using the Bank Register window 49 using the Pay Bills window 47 payment notifications 95 pending MVP payments processing 98 printing forms 207 receiving items without 90 recording 85 blank lines inserting between line items 69 Budget Shortcuts window 222 budgets 221 allocating for jobs 221 choosing accounts to budget 221 half yearly 223 monthly 223 quarterly 223 reports for 222 yearly 223 Build Items window 155 building items 155 business calendar 15 263 business contacts maintaining list of 261 buying details setting up default 27 c calculator 15 currency 143 calendar 15 263 Card File command center 25 Card Information window 26 167 262 cards active 173 changing 172 creating for customers 25 167 employees 31 109 personal 167 vendors 28 167 custom lists and fields 262 deleting 174 employee payroll information 110 exporting 257 finding 172 using advanced search filters 172 using search fields 172 importing 259 inactive 173 linking picture to 262 organizing in groups 261 personal 167 s
302. n the next year 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 273 deposits to vendors Advances paid to vendors for goods or services not yet delivered Vendor deposits are kept in an asset account 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 deprecia
303. n 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 In the Settle Returns amp 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 80 Accounting for bad debts 83 84 Chapter 4 Sales MYOB AccountEdge 2007 v7 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 e 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 accr
304. n your MYOB cards list If you have duplicate cards in your MYOB cards list you should combine or rename these cards before you synchronize For more information see Combining Cards on page 174 To synchronize your MYOB cards and your Address Book cards CAUTION Single user access required Synchronizing cards and Address Book cards requires single user access For more information see Single user file locking for special tasks on page 253 Go to the Card File command center and click Cards List The Cards List window appears User Guide 2 Click Sync Cards The Synchronize Cards window appears Synchronize Cards Click Synchronize to perform a standard synchronization Use Reset Sync under special circumstances as described in your documentation WARNING It is highly recommended that you back up your company file and Address Book before synchronizing Click Back Up to back up your company file now Refer to the Mac Help topic Backing Up Address Book for instructions on backing up your Mac Address Book Back Up 7 Help Reset Sync Cancel Synchronize CAUTION Back up your MYOB company file Importing your Address book cards will change the details recorded in your MYOB company file To avoid losing contact details stored in your company file back up your company file before synchronizing For more information see Backing up and restoring company files on page 248 Click S
305. nactivating records not used frequently 173 international transactions See multiple currencies Internet banking 53 importing statements 60 inventory adjusting 152 auto building items 156 average cost of an item 152 changing prices of 161 counting 158 custom fields 165 custom lists and reports 164 165 custom price levels 162 User Guide exporting adjustment transactions 257 importing adjustments 259 locations 153 making transfers 155 moving between locations 153 negative on hand quantities 67 opening cost values entering 150 opening quantity values entering 150 quantity breaks 163 receiving items without a bill 90 reconciling at year end 232 recording 158 See also items Inventory Count Sheet 150 158 inventory count sheets printing 150 inventory transfers See build items invoices blank lines inserting 69 customizing form layout 210 emailing 207 entering 63 faxing 67 line items entering 64 overdue invoices list of 72 payments 73 printing 207 in a batch 207 printing custom lists on 165 recurring 67 subtotal adding 69 time billing invoices 136 using headers to group line items on 69 Item Information window 148 262 items adding 148 adjusting quantities and values 152 asset account for tracking value of 149 auto building 156 average cost 152 base selling price 152 building 155 counting 158 creating 148 custom lists to group 164 default location 150 default vendor number 149 deleting 174 expense acco
306. nal Register Cancel Record 2 Specify how the payment is to be made e If you are paying the vendor electronically using MYOB Vendor Payments click Group with Electronic Payments Pay from Account M Group with Electronic Payments 1 1150 Electronic Payments e If you are paying the vendor by some other means such as by cash check credit card or Internet banking type or select the account you are paying from in the Pay from Account field Pay from Account 1 1110 Checking Account g Group with Electronic Payments 48 Chapter 3 Banking 3 Fill in the information in the check area of the window just as you would if you were writing a paper check Card USA Gas amp Electric Check 1211 Payee TF USA Gas amp Electric Date 9 14 07 100 River Way Acct 9099 09 00922 Amoun d3054 30 Six Hundred Fifty Four and 30 100 United States Dollars Memo USA Gas amp Electric Widgets amp Co 4 Ifyou want to change the default payee address type or select the payee s address in the Payee field 5 Allocate the payment to the appropriate account A B C Acct Name Amount Memo 6 2600 Rent 450 00 a A Enter the account to which you want to assign the check amount Type the allocation amount here C Optional Assign the check amount to a job by entering the job code here D Optional Type a memo for each line item you enter in the tran
307. nd experience of the employee 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 130 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 Display the Card Information window for the relevant customer and click the Selling Details tab User Guide In the Customer Billing Rate field type the hourly billing rate excluding tax for the customer e0e Card Information Profile Card Details Selling Details Payment Details ContactLog Jobs History ABC Stationery Supplies AJR Balance o gt 1 580 80 Sale Layout Service ra Credit Limit 0 00 Printed Form AccountEdge s Plain Paper In Invoice Delivery To be Printed gt Item Price Level Base Selling Price Income Account 4 1000 Fee Income Receipt Memo Tax ID Number Salesperson g Tax Code STE State Sales Tax Sale Comment Tax On Freight Not Taxed ay Shipping Method 3 Customer Billing Rate 0 00 Customer Terms Information Payment is Due C O D TP Discount for Early Payment O Discount Days 0 Monthly Charge for Lat
308. nd 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 User Guide 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 259 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 172 or Deleting a record on page 173 Setting up sales details 25 To create a customer card 1 Click New The Card Information window appears 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 other
309. ned 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 User Guide 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
310. nel click the Services tab 60 Sharing 16 A amp fal Show All Displays Sound Network Startup Disk Computer Name hongs mac Rendezvous Name hongs mac local Network Address 192 168 75 5 Edit Services Firewall Internet Select a service to change its settings On Service Personal File Sharing Off Personal File Sharing Windows File Sharing Personal Web Sharing Remote Login FTP Access Remote Apple Events Printer Sharing Start Click Start to give users of other computers access to Public folders on this computer Click the lock to prevent further changes If you are running Mac OSX 10 2 or 10 3 complete the following a If the Network Address field is displaying an IP number for example 192 168 75 5 click the number to display the computer s network name in the Computer Name field for MYOB AccountEdge 2007 v7 example hongs mac If addresses are dynamically assigned this should be the name you typed in the DHCP Client ID field in Step 4 on page 267 b Repeat the computer s network name for example hongs mac in the Rendezvous Name field If both fields remained blank after clicking the Network Address field type an identical name in both fields NOTE Rendezvous name simplifies networking The Rendezvous name allows other computers running Mac OS X 10 2 x or later when a user chooses Connect to Server on the Go menu of the Finder to discover each other without setting
311. nents 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 156 1 Goto the Inventory command center and click Build Items The Build Items window appears User Guide 2 Enter the line items for the finished item and for the components D laco Build items Inventory Journal Number 1000017 Date 9 14 07 Memo Build items Location ID Unit Cost Amount Job Memo 10 Warehouse 39 0 90 44 5 Warehouse 8 0 40 30 6 South St 26 160 50 Item Number Quantity 100 1015 gt 200 101A5 300 1 186 Out of Balance 5291 24 a Category l Hel Journal Regis fir L A B Cc E Cancel Recorda A Enter the item numbers of the finished item you want to make and the component items you want to transfer Building items 155 B 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 C Ifyou store an item at multiple locations select the location where the item is held This field appears only if you have more than one lo
312. ng Import Field column to remove it If all the fields in the import file match those in the AccountEdge Fields column click Match All to match all fields simultaneously 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 file readable by most word processors that lists the problems encountered during the import MYOB AccountEdge 2007 v7 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 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 127 Creating persona
313. ng jobs to individual line items on transactions e tracking reimbursable expenses for your jobs e preparing invoices to reimburse job expenses e analyzing profit and loss of a job There are two types of jobs header and detail e Header jobs total associated detail jobs including detail sub jobs You cannot assign transactions to header jobs e 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 To create a header job Go to the Lists menu and choose Jobs The Jobs List window appears Click New The New Job window appears Select Header Job and enter a job number name and description Tracking financial information 249 wu bk W N 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 Click OK The header job appears in the Jobs List window To create a detail job Go to the Lists menu and choose Jobs The Jobs List window appears Click New The New Job window appears Select Detail Job In the Job Number field type a code for the job and press Tab Enter additional information about the job such as a job name description and start date 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 head
314. ng paychecks 120 processing pays 114 122 removing employees from 115 reports 243 setting up 103 using the Payroll Easy Setup Assistant 29 setting up linked accounts 30 taxes 31 104 loading tax tables 29 timesheets changing details during pay run 116 excluding from a pay run 116 verifying details 117 payroll categories accrual creating 104 linked wages category 106 base hourly 31 adjusting 118 base salary 31 adjusting 118 calculated value 33 111 changing 105 108 creating 31 104 108 deleting 31 174 editing 109 finding 172 reviewing 31 Payroll Category List window 104 109 Payroll Details tab 32 110 Payroll Easy Setup Assistant 29 34 payroll liabilities clearing 123 paying 123 electronically 123 using MYOB Payroll Tax Forms service 239 reconciling at month end 233 reconciling at year end 233 reviewing 126 Payroll Liabilities window 123 payroll taxes 29 paying using MYOB Payroll Tax Forms service 239 using Payroll liabilities window 123 payroll year starting new year 244 when to close 239 year end tasks 242 pending purchases See purchases pending sales See orders periods closing 239 locking 230 239 personalized letters creating 261 printing 207 Index 285 petty cash accounts allocating expenses to 52 expenses tracking 52 replenishing 52 pictures adding to cards 262 forms 214 items 262 changing size of on forms 216 removing 263 replacing 263 Portable Document Format PDF file saving purchases
315. now it the date range within which the activity was recorded All activities that match the criteria are listed Click the Diary View tab and the Detail View tab to display different information about the activity slip Select the activity slip you want to view and click Edit The Enter Activity Slip window appears with details of the activity slip User Guide On the first blank line enter details of an activity 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 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 To change an activity slip 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 Make the required changes either in the Activity Slip view or the Multiple Activity Slips view and click OK or Record To delete an activity slip You can only delete an activity slip that has not been billed Find and select the activity slip you want to delete in the View Activity Log window 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 Reviewing and changing ac
316. ns This is the date that the transactions will be recorded in your accounts Click OK and then click Close Paying bills 97 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 To process an electronic payment Go to the Purchases command center and click Prepare Electronic Payments The Prepare Electronic Payments window appears eoo Prepare Electronic Payments Pay From Account 1 1110 Checking Account Balance 20 400 00 Select Payment by All Payment Types F Payment Number EP000002 Journal Memo Electronic Payment Date 9 15 07 ID Date Name Payment Type Amount Status Charles Berringer Pay Employees 1 526 22 7 Frederick Dominico Pay Employees 1 254 39 7 Lynne Hopper Pay Employees 478 91 7 Hannah Pearson Pay Employees 464 68 gt 1 D2 D3 ooo 810 8 0 8 0 D4 181 0 gt Get Update Record Only amp a Help y Print Journal Cancel Process and Record
317. ntifies 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 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 they re delivered not at the time they re paid for aging payables The number of days between receiving a bill from a vendor and an aging date usually today 271 aging receivables The number of days between invoicing a customer and an aging date usually today 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 tot
318. nts 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 276 Glossary 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 other expense An account type used to record expenses that are not directly related to your company s 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 company s 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 271 profit amp 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 MYOB AccountEdge 2007 v7 promised date The date a pending
319. nvoice is recorded before it is printed Click Record User Guide To create a time billing invoice using the Sales window Go to the Sales command center and click Enter Sales The Sales window appears In the Customer field type or select the customer you want to invoice Click Layout The Select Layout window appears Click Time Billing to select the Time Billing layout and then click OK For each billable activity enter e the date the activity was performed in the Date field e the number of units or hours being billed in the Hrs Units field e the activity name in the Activity field either type it or press TAB and select it from the list e the rate charged for a single unit or hour of the activity in the Rate field e Optional the job number in the Job field and then click in the Tax field if you need to add tax If you also invoice items enter the following details for each item e the date in the Date field e the quantity being sold in the Hrs Units field e the item number in the Activity field or press TAB and select the item from the list of items and activities that appears e the price of the item in the Rate field e Optional the job number in the Job field and then click in the Tax field if you need to add tax Creating time billing invoices 137 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 subtot
320. nvoices 165 using in cards 262 custom price levels 162 assigning to a customer 163 customer credits deleting 185 issuing 79 recording 79 refunding by check 81 settling 80 customer payments 73 discount for early payment 74 group with undeposited funds 74 See also receiving payments customer statements emailing 237 printing 237 sending at month end 237 customers assigning a price level to 163 billing rates for 129 cards creating 25 56 updating 56 credit holds 77 credit limits 76 credit terms 25 64 credits deleting 185 issuing 79 recording 79 refunding by check 81 settling 80 discounts for early payment 74 volume 65 entering credit card details 55 invoices entering 63 payments for 49 73 payment methods 25 payments from 49 73 quoting 63 terms 25 who are also vendors 82 D data exporting to other software 257 importing 259 limiting access to See user accounts purging 252 data fields adding to aform 213 changing font characteristics 214 changing size of 216 font characteristics 214 resizing 216 data file See company files dates entry with calendar 15 debtors See accounts receivable Deduction Information window 107 deductions definition 31 104 linked account for 30 paying 123 payroll categories changing 107 creating 104 deleting 173 deposits recording 45 in the Bank Register window 49 saving as recurring 45 depreciation accounts for 238 recording 238 detail accounts 21 168 discounts ear
321. o 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 e If the void authorization has been accepted the voided transaction will be reversed or deleted Whether the transaction 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 60 Chapter 3 Banking w is reversed or deleted depends on whether your company file transactions can be changed See Changing a transaction on page 186 or Deleting a transaction on page 186 e 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 Click Close to close the Processed Receipt window Decide what you want to do with the sale e If the void authorization h
322. ocal currency accounts e accounts of the same account type for example asset and expense accounts cannot be combined and e detail accounts You cannot combine e header accounts e accounts that are linked to other accounts When accounts are combined the non transaction account information for the primary card such 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 Combining records 175 To combine two accounts Go to the Accounts command center and click Accounts List The Accounts List window appears Select the primary account This is the account that the secondary account s transaction history and opening balance will be transferred to Click Combine Accounts The Combine Accounts window appears Combine Accounts Warning Be careful when combining accounts This action cannot be reversed if you remove the wrong account you will have to restore your most recent backup and enter any transactions that occur
323. od 6 Indicate how long you want the recurring transaction to continue Click e Continue indefinitely to schedule the transaction for an unlimited period 188 Chapter 11 Transactions MYOB AccountEdge 2007 v7 e Continue until this date to schedule the transaction until a set date Type the date in the adjacent field e 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 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 If you want to set a reminder 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 Note that pre dated recurring transactions cannot be recorded automatically 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 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 User Guide SPECIFY THE TRANSACTION IDENTIFICATION
324. olumn 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 MYOB AccountEdge 2007 v7 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 Click Record to apply the vendor debit If the transaction is unbalanced that is if the total amount entered in the Amount Applied column doesn t 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 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 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 t
325. olumn _ next to each transaction you want to print If you want to print all the transactions click C1 above the select column If you want to view the transaction details click the zoom arrow gt next to the transaction Enter the number of copies you want to print in the Print Copies fields 208 Chapter 13 Forms 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 209 Click Print To email forms Select the command center function for the forms you want to email For information about finding forms see Finding forms on page 206 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 Click the To Be Emailed tab 00e Review Sales Before Delivery To Be Printed To Be Emailed Sales Type Service B Email Address fig info sien Subject Tnvoic 4 From Widgets amp Co Message Please contact us immediately if you are unable to detach or download your Invoice Thank you A Advanced Filters Invoice Date Customer Email Address Amount 00000373 9 27 07 info sienna com 500 00 00000374 9 29 07 info sienna com 1 200 00 00000375 10 3 0
326. olumn _ next to each tax category that hours where hours are calculated as a percentage of the gross applies to the employee hours paid c Optional Click the Job column next to a payroll category and ENTER RECURRING PAY DETAILS to assign a job number to the category 8 Click Recurring Pay The employee s recurring default pay details appear The recurring values are determined by the payroll ENTER PAY HISTORY AND TIME BILLING INFORMATION categories selected and values entered from step 3 to step 7 9 If you have already paid the employee in the current payroll year above click Pay History and type the amounts you have paid in the _ _ Activity column next to the relevant payroll categories You can Se Se enter pay history for specific months quarters or for the year to date based on the selection you make in the Show Pay History ae E a A E for list C Pay employee from activity slips Amounts entered in the Pay History window appear on reports s4231 not derived from payroll activity such as register reports They are not recorded as transactions in your accounts isability Insur EMPLOYER EXPENSES 10 If you use the Time Billing function to track the time the 7 employee spends on work for clients and customers click Time HERT Billing and enter the employee s time billing rate and cost per hour For more information see Chapter 7 Billing for time starting on page 127 s Print E Crea
327. om the employee s paycheck and paid to a federal state or local government 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 109 104 Chapter 6 Paying your employees To create a payroll category _ Go to the Payroll command center and click Payroll Categories The Payroll Category List window appears leoo Payroll Category List m Wages Accruals Deductions Expenses Taxes Name Type Allocated Tips Salary Base Hourly Hourly gt Base Salary Salary gt Bonus Salary gt Commission Salary Consultations Hourly Overtime 1 5x Hourly gt Overtime 2x Hourly Reported Tips Salary gt Sick Pay Hourly Vacation Pay Hourly New Help j New Close edit gt 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 lt gt 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 3 Click New The Information window for the selected payroll category type appears 4 Typeaname for the payroll category MYOB AccountE
328. omer Activity Adjustment Billable aul ail Units Already Billed Left to Bill Notes 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 MYOB AccountEdge 2007 v7 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 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 subtracted from hours and amounts in the Billable field The units and amount that you haven t billed appear in the Left to Bill fields NoTE 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
329. omers to whom you want to email statements If you want to change a customer s email address highlight the customers name and select another address from the Email Address pop up menu Alternatively type a different address in the Email Address field Month end procedures 237 9 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 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 209 Click Send Email 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 company s 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 There are several methods of recording depreciation Consult your accountant to see which method is best for you Your MYOB accounting softw
330. oming months you can adjust your budget Profit amp Loss Budget Analysis Lists account balances for a selected period along with the budgeted amounts for them If you ve determined that changes need to be made to the amounts you ve budgeted for the coming months you can adjust your budget Statement of Cash Flow 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 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 198 MYOB AccountEdge 2007 v7 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 To print a customer statement Go to the Sales command center and click Print Email Statements The Review Statements Before Delivery window appears Click the To Be Printed tab In the Statement Type field select the type of statement you want to print e Invoice statements list all invoices aged as of a specified date e 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 Sp
331. on see Sending forms on page 207 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 98 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 User Guide Note that you cannot use the Bank Register to e record electronic payments using MYOB Vendor Payments e 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 48 NOTE Importing your
332. on 2 Record the payment in the Bank Register window Banking command center Type Receive Money 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 66 Receiving payments 73 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 56 To record payments against invoices 1 Goto the Sales command center and click Receive Payments The Receive Payments window appears 2 Select the account you want to deposit the payment to e Deposit to Account Select this option and select the required bank account Deposit to Account 1 1110 Checking Account Balance gt 20 400 00 D Group with Undeposited Funds e 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 gt Deposit to Account Balance 9 423 94 Group with Undeposited Funds 1 1160 Undeposited Funds After you have grouped all the deposit t
333. on Review reports click Next The Tax Exception Review window appears e098 Company Data Auditor CXI Company File Overview Start Date 9 1 07 End Date 9 30 07 Run Review Account Reconciliation Transaction Review Tax Exception Review Review will Check for tax amount variances Sales Check for tax amount variances Purchases GB Help for this window Back Finish User Guide Enter the start date and end date of the period you want to review and click Run Review Check for tax The company file is checked for variances between amount variances the tax amount posted and the tax amount Sales 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 Check for tax The company file is checked for variances between amount variances the tax amount posted and the tax amount Purchases 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 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 Step 2 Reconcile your bank accounts To ensure the accura
334. 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 60 Entering transactions in the Bank Register window 49 To enter a transaction in the Bank Register window 1 Goto the Banking command center and click Bank Register The Bank Register window appears 6000 Bank Register Account e gt 1 1110 5 Checking Account Balance c gt 17 900 00 Dated From 9 1 07 To 9 14 07 B Get Statement Deposit Balance 520 400 00 DE src ayee gt 9 7 07 CD T i Trans y cash 2 Inthe 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 Ifyou 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 Inthe Card field type or select the card for this transaction 8 Inthe Amount field enter the total amount of the transaction including tax 50 Chapter 3 Banking 9 If you
335. open until completion of the activity You can still use other software or access other windows during this time Go to the Time Billing command center and click Enter Activity Slip The Enter Activity Slip window appears Enter the employee or vendor name date and customer name In the Activity field type or select an hourly activity ID number The timer fields appear at the bottom of the window Click Start to start the timer If you don t enter a start time in the Start Time field your computer s current system time appears and the timer starts incrementing the time in the Elapsed Time field Creating activity slips 133 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 Start Time 9 09 AM Stop Time lear Elapsed Time 0 00 35 Leave the Enter Activity Slip window open as you perform the activity 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
336. or more information see Setting up MYOB Business Services on page 37 To receive money There are two ways to record money you have received where no invoice was issued e in the Receive Money window e 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 window which lets you record a receipt with minimum details see To enter a transaction in the Bank Register window on page 50 44 Chapter 3 Banking Go to the Banking command center and click Receive Money The Receive Money window appears Choose one of the following e Deposit to Account lIn the Deposit to Account field type or select the required bank account e Group with Undeposited Funds Choose 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 45 In the Payor field type or select the payor s name In the Amount Received field type the amount received Optional In the Payment Method field select the payment method Optional If you want to record additional details about the transaction such as a check number click Details and record the
337. ore information see Responding to reminders for recurring transactions on page 192 You can also record a recurring transaction from the Recurring Transactions List window by going to the Lists menu and choosing Recurring Transactions To record a recurring transaction from a transaction window 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 Select a Recurring Transaction Search for a Recurring Transaction Name Frequency Last Posted Next Due Amount Albany Monthly Training Monthly 10 14 07 11 14 07 250 00 Monthly Carolina Industries Monthly 10 15 07 11 15 07 250 00 Monthly Westmorland Electr Monthly 10 15 07 11 15 07 250 00 Sale Carolina Industries Monthly 10 15 07 11 15 07 500 00 Hel A Cancel Select 2 Choose the required template from the list and then click Select The transaction appears Recurring transactions 191 Verify the date amount account and other details and make any necessary changes Click Record To record multiple recurring transactions From any command center click To Do List The To Do List window appears Click the appropriate tab Sales for recurring sales Purchases for recurring purchases or Transactions for all other recurring transactions In the list of transactions that appears you can click the zoom arrow gt next to the tr
338. ormation window See Creating items on page 120 Timesheets This preference allows you to include time billing and activity slip information in an employee s pay and to create activity slips when you record employee hours using a timesheet To set time billing preferences Go to the Setup menu and choose Preferences The Preferences window appears Click the System tab The preferences that apply to time billing are the last four shown in the window v For Time Billing Enter Time in Special 1 Minute Billing Units ry Round Timer Calculated time up to next Billing Unit I Include Items on Time Billing Invoices v I Use Timesheets for Time Billing and Payroll V2 and My Week Starts on Monday Ta System wide Set the preferences according to how you want to conduct time billing MYOB AccountEdge 2007 v7 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 activity s 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 a
339. orting statements 60 Online Error Notification window 122 resubmitting failed payments MDD 122 MVP 98 online help 12 opening balances accounts 23 customers 26 User Guide items 150 jobs 220 vendors 29 optimizing company files 252 orders 63 converting an order to a bill 93 several orders to bills at once 93 several orders to invoices 70 to a purchase order 71 to an invoice 70 purchase orders entering 85 overdue invoices creating collection letters using OfficeLink 72 viewing list of 72 See also credit terms P passwords See administrator account user accounts Pay Bills window 96 pay bills sending payment notifications 97 Pay Employee window 117 pay history for employees viewing 124 Pay History section 124 payables analyzing 94 paychecks printing 120 207 paying employees 114 122 payment method default customer 25 employee 34 112 payment notifications emailing 207 printing 207 payments electronic setting up MYOB Merchant Account Service MMAS using MYOB Merchant Account Service MMAS 55 exporting 257 importing 259 making 48 49 96 receiving 43 49 73 recurring 187 payroll accrual balances 125 activity slips including in employee pays 115 advice printing 122 categories 104 108 earnings printing 122 employee information entering 110 information 124 analyzing 125 liability payments 123 linked payment account cash wages 30 checks 30 electronic 30 pay history reviewing 124 printi
340. ose of the transaction type a es 8 Ifyou want to store the transaction as a recurring transaction click description in the Memo field 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 187 9 Click Record User Guide Transferring money between accounts 51 52 Tracking petty cash expenses Most businesses keep a small amount of cash handy at the office for miscellaneous expenses postage 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 transfer money to your petty cash account Go to the Accounts command center and click Transfer Money The Transfer Money window appears In the Transfer Money From field type or select the account from which the funds will be paid In the Transfer Money To field type or select the petty cash account Enter the amount and then click Record e00 Transfer Money Transfer TROOOOOS Transfer Date 9 14 07 Transfer Money From T 1110 E Checking Account Transfer Money To T 1140 E Petty Cash Amount 5250 00 Memo Money Transfer Current Balance Balance After Transfer 17 900 00 17 650 00 Petty Cash 100 00 350 00 Checking Account By Save as Recurring Use Recurring
341. ote that the invoice is recorded before it is printed 11 Click Record 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 MYOB AccountEdge 2007 v7 8 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 it s 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 there s 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
342. oto the Edit menu and choose Paste A copy of the element appears in the window Delete Select the element and press DELETE on your keyboard Undo last change To undo the last change you made to the current form either click the undo button or press COMMAND Z Drag and drop 1 Click the element and hold down the mouse button Notice that the cursor changes to a hand pointer 2 Drag the element to the desired location In the example below the Invoice data field is being dragged below its original position 216 Chapter 13 Forms Change coordinates 1 Double click the element you want to move The Field Properties window appears 2 Inthe 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 3 Click OK Resize 1 Click the element once to select it Small squares called handles appear on the element 2 Drag a handle to change the size of the element Send to back 1 Select the element you want to send behind another element 2 Click the send to back button amp Bring to front 1 Select the element you want to bring in front of another element 2 Click the bring to front button There are also procedures specific to particular kinds of elements see Adding and editing data and label elements on page 213 and Adding and editing graphic elements on page 214 MYOB A
343. ou need to process a pay run for each frequency MYOB AccountEdge 2007 v7 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 employee s Card Information window and click Inactive Card in the Profile tab view Before you process your payroll you need the following information e hours worked by hourly employees if you do not record hours using timesheets e vacation and sick pay hours taken e details of any other wage amounts such as sales commissions and bonuses Step 1 Select the pay period Go to the Payroll command center and select Process Payroll The Select Employees to Pay window appears e008 Process Payroll CXI Select Employees to Pay Process all employees paid Weekly D Process individual employee Payment date 110 01 07 Fal Pay period start 9 24 07 Sl Pay period end 9 30 07 Bal Deselect timesheets to remove from payroll calculation Date Employee Pay Basis Weekly Hrs Timesheet Hrs No timesheets can be found using the criteria chosen G2 Helo for This window Display Unprocessed Timesheets p indow Close Next gt User Guide gt 2 Select the pay frequency you are processing e If you are pro
344. ou want to be made If bulk quantities of materials are purchased to build an item it may be easier to specify the materials required to build a greater quantity of the item such as 10 or 20 9 Click OK and then click Close to return to the Inventory command center To build a finished item 7 Enter the details of each of the components required to build the item 1 Go to the Inventory command center and click Auto Build Items The Auto Build Items window appears a Click in the Item Number column and press TAB Your items list a ears ana Auto Build Items pp These are the items that can be built automatically b Select a component item required to build the new finished en POF CK Sail Rests AAE il costs NEETA item and then click Use Item The details of the component FRO deo Card a appear in the Item Number and Name columns Cc 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 f e seal ica Cancel Buildiitems r Auto Build Information A B List what it takes to build 1 inventory unit s of 100 101A5 Widgets A This column displays all items that you have designated as finished Item Number Name Quantity items 200 101A5 Gadgets 3 600 101G8 Gizmos 1 B The On Hand On Order and Net on Hand columns show the current record of your finished items
345. ou want to change a customer s shipping address click the down arrow next to the Ship to field and select another address from the customer s card Alternatively type the address in the Ship to field B Click the zoom arrow gt gt 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 customer s card Cc If the customer gave you a purchase order for this transaction enter that purchase order number here D Type the invoice number here or accept the default number 64 Chapter 4 Sales 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 customer s card 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 Miscellaneous layout The Miscellaneous layout is used only for sales where a printed form is not needed Select the status from the drop down list in the
346. ound account The 180 is converted to 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 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 Display the Spend Money window In the Pay from Account field enter the local currency checking account from which the check is being written User Guide 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 ar
347. 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 94 Chapter 5 Purchases 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 today s date and looking at your credit terms with the vendor 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 Go to the Purchases command center and click Analysis The Analyze Payables window appears Click Filters The Aging Date window appears Set the filters in the Aging Date window and click OK Display the required view of the Analyze Payables window e The Summary view displays all the money that you owe vendors totaled by vendor e The Vendor Detail view displays all the money that you owe the vendor selected in the Vendor Detail field e 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 ba
348. ow for a vendor 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 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 49 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 97 Paying bills 95 The options for recording payments are summarized in the following diagram You pay money other than pay salaries and wages Is it in response to a purchase recorded in the Purchases command center 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 Option 2 Record the payment in the Bank Register window Banking command center Banking command center Type Pay Bill Type Spend Money 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
349. payable account for A Optional fields Enter optional details such as a comment shipping vendor purchases method and the date the goods or services were Tam promised C Amount The amount you have been invoiced D b ctonsisal ob bark an thaliana B Bill Delivery If you want to print or email the purchase in a batch Jo Optional Select a job number here to assign the line item Status select the required bill delivery method from the list to a specific job For more details see Jobs on page 219 C Journal Memo The journal memo is generated automatically You can E Tax If the item is taxable click the Tax column change it if you want D Tax If you want to change the tax amount of the purchase NOTE Add lines subtotals and headers to purchases You can elle Hie zoomi atow a add lines headers and subtotals to purchases to make it easy to E Freight Enter any charges for freight If the freight charge is separate and subtotal different groups of line items on one bill For taxable mark the checkbox to the right more information see Adding and deleting lines subtotals and F Paid Today Type an amount here to indicate how much money you headers to purchases on page 89 paid at the time of the purchase or if you are creating an order how much money you gave as a deposit G Tax code Select the tax code for the purchase 88 Chapter 5 Purchases MYOB AccountEdge 2007 v7 Step 5 Complete the p
350. pears User Access To restrict a user s access choose the user from the list on the left then mark the restricted function on the right If you restrict a user s access to a function that s marked with an asterisk the user won t be able to view or report on the transactions created by that function User ID Not Allowed Kim Harris Accounts Mary Jones Accounts List Account Information Banking Data Integrity Assistant Jobs List Add Edit a Job Job Reimbursable Expenses Job Budgets by Account Record Journal Entry Transfer Money Available Functions User Guide 6 Click the New button to open the New User Details window New User Details User ID and Password Enter a new User ID Enter a new password twice to set password Passwords are optional To copy user restrictions from another user select that User ID from Copy Restrictions User ID Password Confirm Password Copy Restrictions ai y 7 Type the user s name in the User ID field then type the password in the Password and Confirm Password fields 8 Ifyou want to copy the restrictions you ve set up for another user type or select an existing user account in the Copy Restrictions field Click OK The new user account appears in the User ID column of the User Access window Managing user accounts 247 10 Click the new user account in the User ID column then click in the Not Allowed column next to those command centers or 1 func
351. pears Select the account from which you transferred money In the Check field enter a phrase to describe the transfer That way you will know the transaction isn t 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 If you want to link the transaction to a card type or select a card in the Card field Complete the other fields in the window Type the receipt number in the Memo field Click Record Recording miscellaneous transactions 53 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 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 CAN T be Changed They Must be Reversed option 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
352. pt transactions e Voided receipts e 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 User Guide If a customer overpays the full amount should still be entered in the Amount Received field and in the Amount Applied column 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 80 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 56 Click Record to record the customer payment 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 you re 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 Go to either the Sales or Banking command center and click Print Receipts The Review Receipts Before Printing window appears If you print receipts on prepr
353. r The Items Register window appears 184 Chapter 11 Transactions 2 In the Search By field specify whether you want to view transactions for all items or a single item If you selected Item at step 2 type or select the item number in the adjacent field 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 items Register eoe l R Search by All items F Dated From 19 1 07 To 9 14 07 Date Src ID Item Memo Quantity Amount 9 6 0 S 00000382 600 101G8__ Sale Buffalo Systems 79 gt 9 7 07 S 00000380 600 101G8 Sale Buffalo Systems 2 527 79 gt 9 8 07 P 00000129 100 101A5 Purchase AV Credit Union 1 9 09 gt 9 8 07 P 00000130 100 101A5 Purchase AV Credit Union 1 59 09 gt 9 9 07 P 00000131 100 101A5 Purchase AV Credit Union 1 9 09 9 9 07 P 00000132 100 101A5 Purchase AV Credit Union 1 9 09 gt 9 12 07 S 00000385 100 101A5 Sale Buffalo Systems 1 59 04 gt 9 14 07 U 000017 100 101A5 Inventory count 96 868 47 gt 9 14 07 U 000017 600 101G8 Inventory count 104 1 445 00 gt 9 14 07 U 0000018 600 101G8 100 1 389 42 gt 9 14 07 U 1000019 100 101A5 100 5904 66 Y Build Items s Adjust Inventory If you want to view a transaction in detail click the zoom arrow gt next to the transaction To find a transaction using the Transaction Journal window The Trans
354. r 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 148 Once you have created items you need to enter the opening inventory level for each item See Recording your opening inventory on page 150 147 To add items you purchase to your inventory record your purchase in the Purchases window using the Item layout See Entering purchases on page 85 To record the sale of items record your sale in the Sales window using the Item layout See Entering sales on page 63 Creating items An item is a physical unit that your company may buy sell or inventory e 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 150 To create an item Go to the Inventory command center and click Items List The Items List window appears Click New The Item Information window appears In the Item Number field type a unique identi
355. r decrease this amount by a fixed qr monetary amount Budget for Each Month Monthly Amount 215 00 Period starting from selected Month Each Quarter by Decrease 0 00 Each half of the Fiscal Year RS rease Decrease 0 Total Budget for Account 0 00 Help y Cancel EK The fields in the window change according to the period you select Select If you want to Each Month Enter the same amount for every month of the year or a set increase or decrease every month starting from a base amount Period starting from Enter a total amount for a group of consecutive selected Month months Each Quarter Enter the total amount for each quarter Each half of the Fiscal Enter the total amount for each half of the fiscal Year year Fiscal Year yyyy Enter the total amount for the entire fiscal year where yyyy is your financial year 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 Budgets 223 7 When you have finished entering the information click OK The Prepare Budgets window appears with the new amounts entered in the grid If t
356. r 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 The selected date appears in the date field To close the calendar without selecting a date press ESC Salesperson Subtotal 0 00 Comment Pick up ASAP Freight 0 00 Ship Via FedEx 0 Tax gt 0 00 Promised Date 9 3 07 Total Amount 0 00 il lt i at Journi lt September 2007 amp Ms Paid Today 0 00 Refer S MT WTF S Payment Method Cash Ad Invoice Delivet 1 Balance Due 0 00 4334567 8 910 11 12 13 1415 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 flesse aimee asaan il i The current date appears in red You can use the arrow 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 The result appears in the numeric data field To close the calculator without entering numeric data press ESC 96 00 3 25 96 00 Explore your MYOB accounting software 15 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 cus
357. r than 0 00 check your opening balances again If you cannot find the reason why the accounts don t balance click Help and choose Help for This Window However you can continue the setup process if there is an amount in the Amount left to be allocated field The 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 you ve made that haven t 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 24 Chapter 2 Setting up your company file amount will be assigned to a special equity account called Historical Balancing 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 172 or Deleting a record on page 173 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 exa
358. ransactions you want you can then make a bank deposit For more information see Preparing a bank deposit on page 45 3 In the Customer field type or select the customer s name If you have no record of any sales to this customer a message window appears Click OK and ensure you ve selected the correct customer 4 Type the amount received 74 Chapter 4 Sales 5 If you want to record the payment method select the method in the Payment Method field Click Details if you want to enter 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 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 don t use duplicate IDs Customer Carolina Industries ID CROOO6 Amount Received 1 000 00 Date 9 14 07 Payment Method Visa 5 Details Memo Payment Carolina Industries 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 Invoice Status Date Amount Discount Total Due Amount Applied 00000002 Open 9 10 07 100 00 100 00 100 00 00000001 gt Open 10 9 07 265 00 265 00 130 00 Total Applied 230 00
359. re than 10 lock files the maximum permitted in 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 11 open file would create an illegal 11 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 e 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 MYOB AccountEdge 2007 v7 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 Ask all users to log out of your MYOB accounting software 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 Log out of your MYOB accounting software Navigate in Finder to the folder where you keep the shared company file stands for a number from 0001 to 0010 Restart your MYOB accounting software and reopen the shared company file Preventing data entry while generating reports If there are multiple users accessing a company
360. re they can resume making entries in the company file Storing custom reports on a network When you create custom reports information about them is stored on your workstation s hard disk and not on the network Other users of the same company file won t be able to use your 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 Special considerations for networked company files 255 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 e 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
361. rect 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 Go to the Edit menu and choose Reverse Purchase A vendor debit appears in the Purchases window If you want you can make some changes to the vendor debit such as changes to the date and memo but you can t change the accounts amounts and quantities that are associated with the debit Click Record Reversal A vendor debit memo appears in the Purchases Register window To manually create a debit for non item purchase Go to the Purchases command center and click Enter Purchases The Purchases window appears In the Vendor field type the vendor s name or select it from the list Select Bill from the drop down list in the top left of the window Click Layout and select Miscellaneous In the Description field type the reason for the vendor debit Creating vendor debits 99 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 In the Amount field type the amount of the debit as a negative amount Click Record A vendor debit memo appears in the Purchases Register window To manually create a debit for an item purchase Go to the Purchases command cent
362. red after e and transactions will be transferred from the obsolete secondary account to the to use ti mary account After combining accounts is completed the deleted Please note that only local currency accounts and accounts of the same account type may be combined Secondary Remove all transactions from Primary Move all transactions to 6 5230 5 Disability Insurance a Help y Cancel The primary account appears under the Primary Move all transactions to list If necessary you can choose another primary account from the list Select the secondary account from the Secondary Remove all transactions from list CAUTION The next action cannot be undone Before continuing check that you ve 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 Click Combine Accounts When the next window appears click OK to confirm you want to combine the two accounts Synchronizing your MYOB cards and your Mac Address Book cards If you use Address Book to manage contact information you can synchronize your MYOB cards and your Address Book cards This makes it easier for you to keep your MYOB cards and your Address Book cards up to date When you synchronize new cards are added and existing cards if modified are updated If the same field has been modified in
363. ries 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 Goto the Lists menu choose Custom Lists amp 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 Name of Custom List 1 Warehouse Name of Custom List 2 Warranty Name of Custom List 3 Color These custom list names will now appear on the Item Information window To create custom list entries 1 Goto the Lists menu choose Custom Lists and then Items The Custom Lists window appears 164 Chapter 9 Inventory 2 Select the custom list for which you want to make entries in the Custom List field Skoka Custom Lists item Customer Vendor Employee Personal Custom List Warehouse ra Warranty Color itry z x Nev 5 a Help New Close Edit 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 Edit Custom List Color 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 To assign a custom list entry to
364. riteria you want to view 3 Click OK The information you selected appears in the Analyze Balance Sheet window 226 Chapter 14 Financial control To analyze your profit or loss From any command center click the Analysis down arrow and select Profit and Loss from the menu The Analyze Profit amp Loss window appears Click Filters and choose the time periods and other criteria you want to view Click OK The information you selected appears in the Analyze Profit amp Loss window To analyze your jobs From any command center click the Analysis down arrow and select Jobs from the menu The Analyze Jobs window appears In the Job field select the job you want to analyze and press TAB 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 To view financial reports Go to the Reports menu at the top of the screen and choose Index to Reports The Index to Reports window appears Click the Accounts tab MYOB AccountEdge 2007 v7 There are several account reports that can help you track your financial information These reports are listed below Report Description Audit Trail 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
365. rors see step 2 of To check your company file for errors on using decompresses a backup file so you can use it and then page 251 opens the backup file 6 Inthe Save window specify where you want to store the backup NOTE Single user access for restorations This task requires file single user access For more information see Single user file locking for special tasks on page 253 Save Accounts backup le F To restore a backup Save As Backup 10 18 08 sit m Widgets z 1 Go to the File menu and choose Restore The Open window Network 10 0 0a11 Widgets exports appears E Macintosh HD DEPARTMENTAL Departmental Open 5 Desktop Widgets exports 48 john A Applications Network Documents E Macintosh HD g Movies Music Pictures DEPARTMENTAL Departmental aa 9E Desktop john C Hide extension New Folder Cancel Save Applications Documents N k amp Movies By default the backup file is named Backup mm dd yy company amp Music Pictures file sit where mm dd yy is the current month day and year from your computer s system time and company file is the name of the company file you are backing up Open AccountEdge data file C View All Files New Folder Cancel 250 Chapter 16 Managing user accounts and company files MYOB AccountEdge 2007 v7 If the Prompt for Data Backup When Closing checkbox is marked in the Preferences window a window appears a
366. rs don t create transactions unless the customer has paid you Ste Eee cuon ace a deposit An order can be changed to an invoice 1 Enter information about the customer page 64 e An Invoice is usually created when you deliver the items or 2 Choose the type of sale page 64 services the customer ordered It will update the appropriate accounts including the account for tracking 3 Enter the items or services you are selling page 64 receivables Invoices can be open unpaid closed paid or credit negative sale An invoice can t be changed to a quote or an order 5 Complete the sale page 66 4 Enter additional information about the sale page 66 You can enter a sale in the Sales window and the Bank Register window 63 Step 1 Enter information about the customer Go to the Sales command center and click Enter Sales The Sales window appears In the Customer field type or select the customer s 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 76 The terms and ship to address shown in the Sales window are the details recorded in the customer s card 3 Complete the fields as described in the table below Ship to E Buffalo Systems 31 Upper Water Street River Edge NY 14758 A If y
367. rs e inventory adjustments 218 Chapter 14 Financial control e paychecks e historical sales and purchases NoTE You cannot allocate categories to some transactions 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 Go to the Setup menu and choose Preferences Click the System tab 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 Go to the Lists menu and choose Categories The Categories List window appears Click New The Edit Category window appears In the Category ID field type a code that will be used to identify the category and press TAB In the Category Name field type the name of the category MYOB AccountEdge 2007 v7 5 In the Description field type a description of the category or notes relating to the category e0e Edit Category Category Information Category ID P1 C Inactive Category Category Name Private events Description All transacions
368. rs select one or more payment types For credit cards select one or more credit card types Only payments made using that method are listed Type a date to display undeposited funds up to and including that date Optional Type a description of the bank deposit in the Memo field 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 Optional If you need to enter an adjustment transaction for example to record credit card transaction fees or to keep part of 46 Chapter 3 Banking the deposit as cash click Deposit Adjustment The Bank and Deposit Adjustments window appears Bank and Deposit Adjustments Account Undeposited Funds Currency USD Exchange Rate 1 000000 Fees and Cash Back Amount 0 00 1D 5C091406 Job an an Date 9 14 07 Category Expense Account ai Memo Adjustment for Excess Funds Amount 0 00 ID 1E091406 Job a ai Date 9 14 07 Category il Income Account Memo 7 Help q Cancel Record 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 account as appropriate for the adjustment amounts d Type a description in the Memo field and complete other fields as necessa
369. rview File Name Widgets myo fo Location Macintosh HD Users Desktop AccountEdge v7 US Release Version U S A 7 Size 5 79 MB Last Backup Date 9 13 07 Back Up Last Verified Date 9 13 07 Verify Current Fiscal Year End December 2007 Locked Periods Not Selected Lock Periods Payroll Tax Tables Date 7 1 07 Load Tax Tables Help for this window Close Enex This window shows you the following e company file name e MYOB software release number e location of the company file e size of the company file e date on which the company file was last backed up e date on which the company file was last verified e current fiscal year end date e latest month of the locked periods if one has been specified e date of the payroll tax tables MYOB AccountEdge 2007 v7 If necessary you can perform the following maintenance tasks This window shows you from this window e your bank and credit card accounts e the balance of each account ies Apion a e the date on which each account was last reconciled Back up your Click Backup and complete the backup page 249 i company file procedure 3 If you want to reconcile an account select the account and click Reconcile Accounts Continue with step 3 in To reconcile your Check your Click Verify and complete the page 251 j P y company file for verification procedure bank account on page 233 errors 4 Click Next The Tran
370. ry e Click Record If you need to record additional adjustments or fees click Deposit Adjustment again Click Record to record the bank deposit MYOB AccountEdge 2007 v7 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 window which lets you record a payment with minimum details see To enter a transaction in the Bank Register window on page 50 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 95 User Guide The options for recording payments are summarized in the following diagram You pay money other than salaries and wages Is it in response to a purchase recorded in the Purchases command center Option 1 Record the pa
371. s When you are entering opening on hand balances you don t need to enter a default expense account Click Continue The Opening Balance Check window appears User Guide 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 23 e If you have entered an inventory opening balance the Adjust Inventory window appears e 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 Inventory Journal Number 000017 Date 9 14 07 Memo Inventory count Item Number Location ID Quantity Unit Cost Amount Account Job Memo 100 1015 Locationi 2 9 0442 4 200 1015 Location1 2 400 101 Location1 5500 10103 Location1 a Category bx 7 a Help Journal Register an D Make any changes to the default entries in the Inventory Journal Number Date and Memo fields Enter the unit cost of each i
372. s Expense is an account type Expense accounts usually carry a debit balance finance charge The amount added to an outstanding balance as a penalty for late payment financial statements The balance sheet and income profit amp loss statement The balance sheet is your company s financial picture at a particular time The income statement shows your company s 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 MYOB AccountEdge 2007 v7 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 information sales purchases inventory cash in cash out come together You prepare your financial statements balance sheet and income statement from the general ledger information gross profit Itis defined as income minus cost of sales header account A header account is used to group similar de
373. s a paycheck with Gross Wages of 1 000 yields an expense of only 20 i e 2 Limit may be one of the following e No Limit signifies no limit to the expense for this category e 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 employee s base salary e 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 employee s gross wages up to 1 000 per year e088 Employer Expense Information A Employer Expense Name New Employer Expense A Linked Expense Account 6 5130 5 Employer Expenses B Linked Payable Account 2 1410 S Default Payroll Withholding D Employer Expense Information Cc Type of Expense Other PAI C Print on Paycheck Stub Expense Basis Equals 0 Percent of Gross Wages g E Equals 0 00 Dollars per Pay Period ja Expense Limit No Limit F Q Equals 0 Percent of Gross Wages g Equals 150 00 Dollars per Pay Period a e Help Employee Exempt New om z Employer Expense Information H Type of Expense SUI 4 C Print on Paycheck Stub State Code NY New York l State Tax ID SUI Rate 0 Enter as a percentage J Wages Limit 0 00 Year to Date State Wages xy a New Help Employee New oom If
374. s and payment notifications as a batch to your customers and vendors You can do this from the following windows e Purchase transactions select either To be Emailed To be Printed or To be Printed and Emailed from the Bill Delivery Status field in the Purchases window Journal Memo Purchase Border Digital Paid Today Bill Delivery Status To be Printed gt Balance Due Bi Use Recurring 2 Rate USD 7 i i cx f Help Print Send Tq Journal Layout Register Cancel Reca User Guide e Sales transactions select either To be Emailed To be Printed or To be Printed and Emailed from in the Invoice Delivery Status field in the Sales window Journal Memo Purchase Ken s Output Supply Paid Today Gil Delivery Status To be Emailed ni Balance Due Save as Recurring Use Recurring 2 Rate USD BEEE lG Help Print Send Tq Journal Layout Register Cancel Record e Payment notifications select 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 amp Credits or Pay Bills windows e090 Sales New Service voice F Terms Net 30 Wi Customer c gt Albany Diagnostics Ship to E Albany Diagnostics Invoice 00000004 T 345 Northway Bivd gt Suite 103 Date 9 5 07 abany NY 15001 Customer PO Description A
375. s history for 73 setting up in the Easy Setup Assistant 32 111 sick pay recording 117 time billing information including in employee pays 112 115 vacation pay distributing 117 recording 117 Employer Expense Information window 108 employer expenses definition 31 104 linked account for 30 paying 123 payroll categories changing 105 creating 104 deleting 173 end of month See month end end of year See year end equity accounts 20 error checking for in company file 230 Excel viewing MYOB reports in 198 exchange accounts tracking foreign transactions 140 exchange rates 142 expenses accounts for 20 payroll category 108 expiring discounts alert 261 Export Data window 257 exporting data 257 to CaseWare 258 to Mac Address Book 176 See also synchronizing cards and Mac Address Book faxing purchase forms 89 reports 198 sales 67 sales forms 67 file locking multi user mode 253 single user mode 253 finance charges calculating 78 charging 78 deleting 78 101 paying 97 using to track late payment 101 Find Transactions menu command centers 15 Find Transactions window 182 finding records 172 transactions 182 185 finished item 155 fiscal periods locking 239 fiscal year budgets for 221 closing 239 starting 241 year end tasks 239 240 fonts changing on forms 214 changing on reports 202 default 212 foreign currency adding a new currency 140 changing 172 deleting 174 See also multiple currencies forei
376. s 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 MYOB AccountEdge 2007 v7 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 168 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 Here s a list of the accounts you are likely to need if you accept payment from customers in a foreign currency e Asset account
377. s later from the Card File command center Enter details about your customer You don t have to complete e0e Card Information Sale Layout Service Credit Limit Printed Form Jo Invoice Delivery To be Printed Item Price Level Base Selling Price A Income accoun O oS Receipt Memo Tax ID Number Salesperson Sale Comment Tax Code Tax On Freight aa Shipping Method a Customer Billing Rate 0 00 Customer Terms Information Payment is Due C O D TS Discount for Early Payment Discount Days 0 Monthly Charge for Late Payment Li Balance Due Days 0 Volume Discount D credit timit amp Hola P py New Help v oor Profile Card Details Selling Details Payment Details Contact Log Jobs History Kwiner Gourmet Shops AJR Balance Rs0 00 STE 5 State Sales Tax Not Taxed 0 Rs0 00 A Selling The selections you make here will be used by default information on quotes orders and invoices that you create for this customer You can override these selections when recording the sale B Credit Limit amp The customer s credit limit is displayed Enter the Tax information customer s tax information here C Customer Terms These are the default credit terms you entered earlier You can override them here for this customer D Credit Limit amp Click Credit Limit amp Hold and enter the customer s Hold credit limit in the
378. s opening quantity and value Tips amp Troubleshooting Search the Help To adjust item quantities These options are described below Select If you want to Help for This e see a description of the window which includes links Window to more detailed descriptive and procedural topics Overview tab e see a description of each field in the window Fields tab e 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 amp 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 MYOB AccountEdge 2007 v7 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 14 ACCOUNTS Transfer Money Record Journal Entry Company Data Auditor Transaction Journal Where to start When you start your MYOB accounting software a welcome window displays the following options e Open your company file use this option to open your company fil
379. s the Profit and Loss accounts by default From the Fiscal Year list choose whether you want to enter a budget for this fiscal year or the next one From the Account Type list choose the type of account you want to enter a budget for Profit and Loss or Balance Sheet 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 e090 Prepare Budgets Fiscal Year Next Fiscal Y iar FY 2005 E Account Type Profit and Los B Account Name FY Total Income 3 323 00 Rental Income 763 00 4 1100 Audio Equip Rental 280 00 January February March 1 735 0 4 1200 Video Equip Rental Income 483 00 215 00 Service Income 2 560 00 1 040 00 4 2100 2 560 00 1 040 00 1 520 00 0 00 4 2200 Tele 0 00 0 00 0 00 4 0 00 4 3000 Other Service Fees 0 00 Parts amp Equipment 0 00 Shortcuts gt Copy Amount to Following Months gt Copy Previous Year s Actual Data Help Print E Close Q D E MYOB AccountEdge 2007 v7 A The Account Name and FY Total columns display the list of accounts and their current budget totals for the fiscal year B You can enter the budget amount for a specific account and month You can use the horizontal scroll bar to scroll through the months
380. s window appears In the Account field type or select the account for which you want to undo the reconciliation Click Undo Reconciliation The Undo Last Reconciliation window appears confirming the account and date of the reconciliation you are undoing Undo Last Reconciliation Undo Your Last MYOB Account Reconciliation WARNING The Undo Last Reconciliation process cannot be reversed Any bank charges or interest earned recorded for this reconciliation will not be removed It is highly recommended you make a backup copy of your MYOB AccountEdge data before proceeding Back Up Click the Back Up button if you wish to back up at this time Click Undo Reconciliation if you have already backed up your data For more information refer to your user documentation or click the Help button to access help Account selected to Undo Last Reconciliation for 1 1110 Checking Account The date the account was last reconciled 9 30 07 Hel elp g Cancel Undo Reconciliation Month end procedures 235 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 Receivables Reconciliation Lists all your outst
381. s year prevent you from printing payroll reports for the previous year e 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 253 Go to the File menu choose Start a New Year and then Start a New Payroll Year If you haven t already created a backup file before purging the information click Backup and follow the instructions in the windows that appear 244 Chapter 15 End of period procedures 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 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 252 MYOB AccountEdge 2007 v7 16 Managing user accounts and company files Your company s accounting information is kept in a single file called a company file This includes your accounts list
382. saction 6 f 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 MYOB AccountEdge 2007 v7 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 217 If you are paying by check and have already written a check select the Check Already Printed option 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 187 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 day s payments you can print or email a transaction batch For more informati
383. saction Review window appears Set the locked Click Lock Periods and specify the last page 239 periods for your month of those that are to be locked 7 n e098 Company Data Auditor company file that is months for which data cannot be entered CIJ Load payroll tax Click Load Tax Tables and then page 29 Company File Overview Start Date 9 1 07 End Date 9 30 07 Run Review A Account Reconciliation Review will tables complete the procedure for loading tax Transaction Review Reconcile invoices with linked receivables account tables Reconcile purchases with linked payables account Compare item values with inventory account Scan for future dated transactions Scan for prepaid transactions Scan for deposits paid 2 When you have completed the required maintenance tasks click E es Next The Account Reconciliation Review window appears pos tgs ia a ais AAA Company Data Auditor Help for this window z CKI _ Company File Overview Account Balance Reconcile Date Account Reconciliation 1 1110 Checking Account 31 560 00 Never Reconciled Data Exception Review 1 1120 Payroll Checking Account 0 00 Never Reconciled gt 1 1130 Cash Drawer 0 00 Never Reconciled gt 1 1140 Petty Cash 200 00 Never Reconciled 1 1160 Undeposited Funds 300 00 Never Reconciled 1 1190 Electronic Clearing Account 0 00 Never Reconciled gt 2 1110 American Express 0 00 Never Reconciled gt 2 1120 MasterCard
384. 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 customer s 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 current assets Assets that can be turned into cash within a relatively short time less than a year are called current assets User Guide 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 current liabilities Liabilities that become payable withi
385. sed on the entries you made in the Aging Date window and the selections MYOB AccountEdge 2007 v7 you made in the Aging Periods fields in the Reports amp Forms view of the Preferences window 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 Go to the Reports menu and choose Index to Reports The Index to Reports window appears Click the Purchases tab A list of purchase reports appears 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 User Guide For information on displaying customizing and printing your reports see Printing and customizing reports on page 195 To view purchase history You can view the purchase history for an item or a vendor Display the Item Information window for an item or the Card Information wind
386. see Recurring transactions on page 187 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 day s payments you can print or email a transaction batch For more information see Sending forms on page 207 User Guide 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 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 98 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 To pay several bills at once Click To Do List in any command center The To Do List window appears Click the A P tab A list of all unpaid purchases appears If you want to view details about a specific bill click the zoom arrow lt gt next to the bill Click in the select column _ next to each bill you want to pay Click Pay Bills In the window that appears enter a date for the selected transactio
387. sit and or Vendor Payments select Direct Deposit and or Vendor Payments and select the account from which electronic payments are to be withdrawn usually the checking account in the Pay From Account field This account becomes the default in the Prepare Electronic Payments window Click OK 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 Action See 1 Record your bank account information below 2 Set up an electronic payments clearing account below 3 Record vendor bank information page 40 4 Record employee bank information page 40 Step 1 Record your bank account information 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 21 you can ignore this procedure User Guide Go to the Accounts command center and click Accounts List The Accounts List window appears Select the bank account you will use for electronic payments This is the
388. sking 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 In the Open window locate the backup file with a sit file extension you want to restore select it and click Open NOTE f the backup file is on a removable disk insert the disk into the disk drive 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 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 253 1 Go to the File menu and choose Verify Company File A confirmation window appears User Guide Specify where you want to save the restored file and click Choose By default the name of the restored file is appended with o1d and is then restored to the specified location Click OK The Sign on window appears You can proceed working with the restored file NOTE Restor
389. ss on a particular job and to determine the job s 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 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 User Guide the actual amounts and the amounts you have budgeted for the job Go to the Lists menu and choose Jobs The Jobs List window appears Highlight the detail job for which you want to enter budgets Click Budgets The Job Budgets by Account window appears with the job you selected in the Job Number field All your company s income cost of sales expense other income and other expense accounts appear in
390. st in unavailable For example if you have purchased an item before but currently have none on hand the last purchase price is used Standard Standard cost is used if you have never purchased an item Cost before and you have entered a standard cost in the item information card Zero cost Zero cost is used if you have never purchased the item before and you select this option when recording the sale 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 Recording sales with insufficient on hand item quantities 67 To allow the recording of sales with insufficient on hand quantities Go to the Setup menu and choose Preferences The Preferences window appears Click the Inventory tab and select the Allow the Sale of Items with Insufficient On Hand Quantities option Build buy or backorder items If you attempt to record a sales invoice with an insufficient on hand quantity see Complete the sale on page 66 and you don t 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
391. station seats whenever the need arises To create a password for the Administrator account Start your MYOB accounting software and click Open your company file in the welcome window that appears In the Open window navigate to and select the company file to be opened and click Open The Sign on window appears In the User ID field type Administrator Click Change Password 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 Change Password User ID and Password Enter your existing password and type your new password twice in order to change it and sign on Administrator 6 Click OK to the confirmation message that appears 246 Chapter 16 Managing user accounts and company files MYOB AccountEdge 2007 v7 To create a user account Start your MYOB accounting software and click Open your company file in the welcome window that appears In the Open window navigate to and select the company file to be opened and click Open In the Sign on window type Administrator in the User ID field type the administrator s password in the Password field and click OK Only the Administrator account allows you to create edit and delete user accounts Go to the Setup menu and choose Preferences In the Preferences window click the Security tab and then click the Password button The User Access window ap
392. step 2 above If required enter details of the deposit in the Memo field e0e Receive Money Deposit to Account 1 1110 Checking Account Balance lt gt 20 500 00 O Group with Undeposited Funds Payor hd ID CR000001 Amount Received 500 00 Date 4 1 07 Payment Method bd Details Memo Uncleared deposit made on 3 30 2007 Acct Name Amount Job Memo 1 1110 Checking Account 500 00 Total Allocated 500 00 Total Received 500 00 Out of Balance 0 00 S Save as Recurring 7 7 to 2 I a Help Journal Register Cancel Record 8 Click Record 9 Repeat from step 3 above for each uncleared deposit 36 Chapter 2 Setting up your company file Step 3 Reconcile Go to the Banking command center and click Reconcile Accounts The Reconcile Accounts window appears In the Account field select the bank account you want to reconcile 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 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 For each uncleared withdrawal
393. sts when Information Changes C I Use Timeslips Accounting Link ZI Deal in Multiple Currencies System wide Prefer to Use Help From the Internet Rather Than My Computer Warn if Jobs Are Not Assigned to All Transactions System wide Turn on Category Tracking Categories are Not Required I on All Transactions System wide For Time Billing Enter Time in Special 1 Minute Billing Units FS Round Timer Calculated time up tonext T Minute Increment 1 Include items on Time Billing Invoices 1 Use Timesheets for Time Billing and Payroll and My Week Starts on Monday T System wide 7 Help p c 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 User Guide The second step in setting up your company file is to set up your accounts This includes e reviewing and if necessary modifying your accounts list e entering your account opening balances The Accounts Easy Setup Assistant will help you complete these tasks Zy p To open the Accounts Easy Setup Assis
394. t 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 MYOB AccountEdge 2007 v7 Check for job If you have selected the Warn if Jobs Are Not exceptions Invoice Assigned to All Transactions option in the Transactions 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 If you use integrated payroll the total of payroll liability payments 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 6 When you have finished viewing and if necessary printing the Transacti
395. t again by selecting it from the Custom tab User Guide 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 Go to the File menu and choose Default Fonts The Default Font Selection window appears Click Reports The Report Format All Reports window appears Choose the font style and size for the printed characters on your reports The sample box previews the appearance of your choices Click OK when you have finished NOTE Changing the default fonts will not affect the fonts on any custom report Customizing reports 2Q3 204 Chapter 12 Printing and customizing reports MYOB AccountEdge 2007 v7 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 customer s account is not zero You can also print forms onto stationery with a pr
396. t card sales 55 56 learning about 37 printing credit card payment receipts 75 receiving payments 74 registering 38 voiding a credit card payment 60 MYOB Payroll Tax Forms registering 41 setting up 40 updating 41 MYOB Payroll Tax Forms service paying taxes using 239 W2 forms electronically filing at year end 243 printing at year end 242 MYOB Vendor Payments MVP activating 38 applying for 38 approval status 98 bank details entering 39 checking account for electronic withdrawals 39 declined status 98 resubmitting failed payments 98 electronic payments grouping in the Electronic Clearing Account 98 processing 49 97 electronic withdrawals identifying checking account for 39 learning about 37 paying vendors using 98 pending payments processing 98 MYOB AccountEdge 2007 v7 recording payments 49 97 registering 38 setting up 38 updating vendors cards for 40 navigation shortcuts 14 network company file located in a shared folder 265 file locking multi user mode 253 single user mode 253 how preferences work on 253 improving performance 256 required hardware 266 shared company files factors affecting how they work 253 storing custom reports on 255 system requirements 266 New Company File Assistant 20 New Time Billing window 136 new year starting a new fiscal year 241 starting new payroll year 244 o OfficeLink collection letters creating 72 personalized letters creating 261 online banking imp
397. t each location Any discrepancy between the counted quantity and the on hand quantity appears in the Difference column 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 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 Reviewing your inventory information The following tools help you review your inventory information Tool Description See To Do List Displays an alert for items that need to be page 160 purchased or built Analyze Gives you a list of your items showing foreach page 160 Inventory 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 Inventory reports help you keep track of your page 160 reports item quantities and value User Guide NOTE No default adjustment account needed You don t need to enter a default adjustment account If it s 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 Click Continue The Adjust Inventory window appears
398. tail 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 month s activity to the activity for the same month last year 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 User Guide income statement Also called a profit amp loss statement the income statement shows your company s performance over a period of time An income statement begins with income It then 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 inventory s value in a current asset account Inventory items are valued using the average cost method invoice The record of a sale item Aunitin your items list An item can be physical inventory like a widget or a pair of shoes or it can be non physical lik
399. tain 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 accounts see Reversing a transaction on page 187 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 To change a transaction Find and display the transaction in its original transaction window See Finding a transaction on page 182 Make the necessary changes to the transaction and then click OK 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 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 186 Chapter 11 Transactions 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
400. tant click accounts Accounts in the Easy Setup Assistant window Setting up accounts 19 Review your accounts list There are eight account classifications in the accounts list Assets 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 SEE Classification Account Type Description Asset Bank Money in the bank for example in a checking or savings account Accounts Money owed to you by customers Receivable Other Current Assets that can be turned into cash Asset 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 Fixed Asset 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 Other Asset Any other assets such as loans made to others and intangibles such as goodwill Liability Credit Card Repayments required to service credit card debt Accounts Payable Money you owe to vendors Other Current Liability Money you owe that is due in less than a year for example tax 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 20 Chapter 2 Setting up your
401. 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 34 Chapter 2 Setting up your company file Set up timesheets When you have finished creating the employee cards click Next in the Payroll Easy Setup Assistant window The Decide if you ll use timesheets window appears If you want to record hours worked by hourly employees using timesheets select the 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 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 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 MYOB AccountEdge 2007 v7 I
402. te New Payroll Category fl Reset to Original Amounts 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 User Guide Setting up payroll details 33 ENTER PAYMENT METHOD INFORMATION 11 Click the Payment Details tab and select the method you use to pay the employee in the Payment Method list If you want to pay employees using MYOB Direct Deposit select Electronic and enter the employee s 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 37 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 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
403. tem 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 Creating items 151 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 195 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 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 158 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 To make an inventory adjustment Go to the Inventory command center and click Adjust Inventory The Adjust Inventory window appe
404. tements on page 237 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 74 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 Deleting finance charges When you enter a finance charge in the Receive Payments window two transactions are recorded the 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 MYOB AccountEdge 2007 v7 Creating customer credits Recording credits Before you create a customer credit for the first time you need to have an account for tr
405. tems 100 00 0 00 Closed yy i wy aias dE Biia Close _ New Sale 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 gt 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 Goto the Purchases command center and click Purchases Register The Purchases Register window appears User Guide 2 Click the tab of the type of purchase you would like to view for example All Purchases e028 Purchases Register All Purchases Quotes Orders Open Bills Returns amp Debits Closed Bills Search by All Vendors fe Dated From 9 1 07 To 9 14 07 Date PO vendor Inv Vendor Amount Amt Due Status gt 9 8 07 00000129 AV C Union 10 00 10 00 Open gt 9 8 07 00000130 AV C Union 10 00 10 00 Open gt 9 9 07 00000131 AV C Union 20 00 20 00 Open gt 9 9 07 00000132 AV C Union 20 00 20 00 Open Close New Purchase 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 th
406. tered trademark of Visa International Service Association Other products and services mentioned may be trademarks registered trademarks or service marks of their respective owners MYOB AccountEdge 2007 v7 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 gover
407. 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 In the Save As window specify a name and location for the file and click Save 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 Go to the Reports menu and choose Index to Reports The Index to Reports window appears Locate and select the report you want to email Producing reports 197 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 200 Click Send To and choose Email The Email window appears In the Name field type or select the individual or organization you want to send the report to If necessary add or change the email address Enter the subject and message of the email Click Send The email is sent to your email software s outbox with the report attached as a PDF file 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 fa
408. th 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 259 If the adjustments have been provided on paper you can manually enter them in the Record Journal Entry window 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 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 Enter a comment in the Memo field to describe the transaction for example Depreciation Motor Vehicles MYOB AccountEdge 2007 v7 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 items a 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 Acct Name Debit Credit Memo 6 1200 Depreciation Expense 12 050 00 1 3120 Office Equipment Accum De 12 050 00 Total Debit 12 050 00 Total Credit 12 050 00 Out of Balance 0 00
409. 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 User Guide 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 Click Record to apply the credit To record a refund payment Go to the Sales command center and click Sales Register The Sales Register window appears Click the Returns amp Credits tab A list of customer credits appears If the credit you want to settle does not appear select Customer from the Search By list Enter the customer s name in the adjacent field and then press Tas A list of credits for that customer appears 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 amp Credits window Select an account in the Account field For example if you re paying a credit card refund and you group all your credit card sales choose your undeposited funds account If you want to change other information in the window such as the transaction date If you are paying by check and you have already written it select the Check Already Printed option Specify how you want to send a payment notification by selecting a
410. the MYOB eFile Center on the web For more information open online help and choose Topics gt Reports and forms gt Working with payroll tax forms gt Registering to eFile payroll tax forms Setting up MYOB Payroll Tax Forms 41 42 Chapter 2 Setting up your company file MYOB AccountEdge 2007 v7 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 rec
411. the Profile and Buying Details tabs now You can complete information in the other tabs later from the Card File command center Your credit limit with this vendor and the vendor s 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 29 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 online help C Credit terms These are the credit terms you entered earlier You can override them here for this vendor Chapter 2 Setting up your company file MYOB AccountEdge 2007 v7 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 37 When you have finished click OK to return to the Purchases Easy Setup Assistant The card you created now appears in the vendor list Repeat from step 1 for each vendor card you want to create When you have finished creating your vendor list click Next Enter historical purchases Historical purchases are purchases that haven t b
412. 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 146 Chapter 8 International transactions 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 There are two methods by which you can reconcile accounts containing foreign transactions e 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 e
413. the item appears automatically You can change this if you want H Disc Type a volume discount as a percentage I Total The total price is calculated automatically J Job Optional Select a job number here to assign a line item to a specific job For more details see Jobs on page 219 K Tax If the item is taxable click the Tax column Entering purchases 87 The following illustration shows the fields for purchase with a Step 4 Enter additional information about the Service layout and a Bill status These fields also apply to the purchase Professional and Miscell l t aaa ET aa SN The fields that appear at the bottom of the Purchases window differ depending on the type of purchase you are creating Service Description Acct Amount Job Tax Consultation 6 3100 100 00 x Subtotal 200 00 a a Comment Thank you 5 Freight 0 00 A B C D E Ship Jia U S Mail 0 Tax o gt 0 00 EXM Promised Dijte Total Ar ount 3200 00 Aerts Peay Ps Journal N mo Purchase V Records Paid oday 0 00 A Description A description of the service being purchased Bill Delivery SiJatus To be Printed iz Balanc Due 5200 110 Acct or The account to assign to the purchase Press TAB to display Account the accounts list from which you can choose an account A B c D E F G Name This should be an expense or cost of sales account You should not select your accounts
414. the other fields in this window 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 e Tar Code information ax Code Information at 4 STE State Sales Tax at 4 and MET Metropolitan Tax at Enter the tax code up to three characters a brief description of the tax and the rate of tax Select an appropriate tax type and complete the links as necessary 0 25 Tax Code MET 00o Tax Code Information Description Metropolitan Tax A Tax Type Sales Tax zs Rate 0 25 Linked Account for Tax Collected 2 1300 F Sales Tax Payable B Linked Card for Tax Authority wen New n A Enter a description type and rate If you selected Consolidated as the NOTE You can only consolidate tax codes that are in your tax Tax Type see Consolidated tax codes above code list Make sure you first create the tax codes you want to B If the Tax Type is Sales Tax specify the linked account for tax consolidate The rest of the fields are filled in for you and the collected If the Tax Type is Import Duty specify the linked account consolidated tax rate is calculated automatically for accrued duty Specify a linked card if applicable 5 Click OK when you have finished The new tax code you created will now appear in your tax codes list To create a tax code 1 Goto the Lists menu and choose Tax Codes A list of tax codes appears 2 Click Ne
415. this quantity break User Guide 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 e098 Item Information Profile Item Details Selling Details History Auto Build Locations VK100 Video Card Kit Base Selling Price 589 981 CI Collect Sales Tax When I Sell This Item Selling Unit of Measure each Number of Items per Selling Unit T Quantity Over 0 000 Over I0 Over o Retail 89 981 85 00 Wholesale 210 00 210 00 Internet 215 00 211 50 Summer Sale 205 00 205 00 Canadian 225 00 225 00 Stocktake Sale 204 50 204 50 W Copy From 7 Nev S Cj as Help q New o Click OK To assign a price level to a customer Display the customer s Card Information window and click the Selling Details tab 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 item s base selling price to the customer The selected price level and any associated quantity breaks will now determine the price this customer is charged for the item Click OK and then click Close Customizing inventory 163 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 ent
416. ting Started guide user guide this publication How to Upgrade guide an introduction to accounting and a guide to MYOB checks and forms 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 11 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 12 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 upgrading 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 amp Forms 101 The Checks amp Forms 101 guide provides 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 funct
417. tion types e the account isn t linked to any of the items you ve entered Inactivating or reactivating a record 173 To delete an account 1 Goto 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 Goto the Edit menu and choose Delete Account Deleting other records You can only delete e acard 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 e a card that has not been used in a quote order or recurring template 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 174 Chapter 10 Lists e an item with a zero quantity in inventory e an activity slip provided that the time billing
418. tion 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 item s 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 double entry 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 274 Glossary earnings Income minus cost of sales and expenses See current year earnings equity A company s 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 shareholder s equity expense A cost associated with running a busines
419. tions to be denied to the user User Access 2 To restrict a user s access choose the user from the list on the left then mark the restricted function on the right If you restrict a user s access to a function that s marked with an asterisk the user won t be able to view or 3 report on the transactions created by that function User ID Not Allowed Available Functions 4 John Smith Print Email Purchase Orders Kim Harris x Print Checks Mary Jones x Set Up 1099s and 1096 Pay Bills Settle Returns amp Debits Purchases Register x Analyze Payables Receivables amp Payables x Credit Terms Sales amp Purchases Information Add Edit a Comment Delete Cancel OK gt 5 11 Click OK 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 Backing up and restoring company files Backing up is the copying of a company file to some form of storage medium such as a 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 248 Chapter 16 Managing user accounts and company files NoTE Before you begin have your credit card on hand Start your MYOB accounting software and open the company file requiring extra workstation licenses
420. tivity slips 135 Creating time billing invoices There are two ways you can create a time billing invoice e 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 e In the Sales window Use this method if you don t need to record details of activities and activity slips or track work in progress See Work in progress on page 138 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 Go to the Time Billing command center and click Prepare Time Billing Invoice The Time Billing Customers window appears 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 128 136 Chapter 7 Billing for time 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
421. 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 Setting up MYOB Business Services 37 Specifying MYOB Business Services checking accounts When you apply for the MYOB Merchant Account Service credit card processing you must select a checking account into which credit 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 Open your MYOB accounting software company file Go to the Setup menu and choose an option from the table below To apply for Choose MYOB Merchant Account Service Credit Card Processing and then Learn About Credit Card Processing MYOB Direct Deposit Electronic Payments and then Learn About Direct Deposit MYOB Vendor Payments Electronic Payments
422. to credit the new accumulated depreciation asset accounts and debit the new depreciation expense account The accumulated depreciation asset accounts will always have a negative balance to show a reduction in the value of the depreciable assets MYOB AccountEdge 2007 v7 Step 6 Pay payroll taxes Consult your accountant or the appropriate government agencies if you re unsure about how or when to pay payroll taxes MYOB PAYROLL TAX FORMS 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 40 If you have registered for the service see online help for more information on how to electronically file your payroll tax forms If you haven t registered you can view a demonstration of the forms available However they cannot be electronically filed 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 fiscal year MYOB accounting software doesn t require you
423. to start 13 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 Explore your MYOB accounting software You should become familiar with the following tools and aids Tool See Command centers below Calendar page 15 Calculator page 15 Zoom arrows page 16 Search icons page 16 Mouse shortcuts page 16 14 Chapter 1 Introduction A command center window always appears when a company file is open Notice that the name of the sample company Widgets amp Co appears at the top of the window Now that the Widgets amp Co company file is open you can browse through the software explore the transactions that have already been entered and enter some transactions yourself Command centers There are eight command centers in your accounting software The following is an illustration of the Sales command center Ss Widgets amp Co Command Center myo SALES 9 aja ow oe Accounts Banking Sal Time Billing Sales Register Each command center contains a row of icons in the top section of the window These icons allow you to switch between command centers 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 MYOB AccountEdge 2007
424. tomer record A white zoom arrow gt indicates that you can display more detailed information about a transaction and make changes to or delete the transaction A gray zoom arrow gt 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 187 Alternatively you can change your security preference selection to make all transactions changeable see Setting up preferences on page 18 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 16 Chapter 1 Introduction 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 You can Control click in a window to open a shortcut menu with options relevant to the window and to the location of the pointer e0e Card Information Profile Card Details Payrol
425. top left corner of the window Quote Order or Invoice 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 MYOB AccountEdge 2007 v7 The following illustration briefly describes the line item entries you can make for a sale with an Item layout and an Invoice status Item ot Backorder Item Number Description Location Price Disc Total Job Tax 300 10186 Video Output Cable Location1 75 00 300 00 v D E F H J A Ship Type the quantity to be delivered Backorder Type the quantity of the item to be placed on backorder An order for this amount will be created automatically when you click Record C Item Number Type your item number or select it from your item list D Description A description of the item appears automatically You can change this if you want E Location If you sell this item from multiple locations select the location where the item will be
426. 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 accounts asset liability and equity accounts can 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 139 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 Step 1 Select the multiple currency option Go to the Setup menu and choose Preferences The Preferences window
427. tware s 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 MYOB AccountEdge 2007 v7 EXAMPLE 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 p
428. u want to print the transaction click Print MYOB AccountEdge 2007 v7 15 If you want to store the transaction as a recurring transaction click For more information about saving and using recurring Save as Recurring In the Edit Recurring Schedule window transactions see Recurring transactions on page 187 enter the necessary information and click Save Note that this option is available only for Spend Money and Receive Money transactions types 16 Click Record Transferring money between accounts You can transfer money between bank accounts including bank 7 If you want to assign the transaction to a particular category and credit card accounts using the Transfer Money window select the category from the Category list For more information about categories see Tracking financial information on To transfer money between accounts page 217 1 Go to the Accounts command center and click Transfer Money CEG TEETE The Transfer Money window appears 2 Enter a date for the transfer ote 3 Inthe Transfer Money From field enter the account from which the funds will be paid Current Balance Balance After Transfer 4 Inthe Transfer Money To field enter the account to which the heey neous E 31000 funds will be paid Save as Recurring Use Recurring Gaga gt amp 5 Inthe Amount field enter the amount to be transferred Help y Joumal Cancel D 6 Ifyou want to record the purp
429. u 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 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 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 on page 57 MYOB AccountEdge 2007 v7 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 MYOB AccountEdge pe the card Thi card c Swipe the credit card The credit card information appears in the Applied Payment Details window Applied Payment Details Payment Details for Border Digital Payment Method Visa Card Entry Method Manual Update Vendor Card with Payment Details E Amount 51 000 00 Help Authorize Cancel OR 7 Select your authorization type e If you are authorizing a payment using th
430. ual 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 e 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 e 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 don t create transactions unless you have paid a deposit to the vendor An order can be changed to a bill but not to a quote A receive item purchase is available only for the Item layout e 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 85 You can enter a purchase in the e Purchases window e 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 window is a fast way to enter a p
431. ually delete it in both your Address Book and your MYOB cards If you have deleted a card from only your MYOB cards or only your Address Book and you now want to synchronize the card you need to reset the synchronization MYOB AccountEdge 2007 v7 Resetting the synchronization If any of the following has occurred since you last synchronized cards you need to reset the synchronization e You deleted a card from your Address Book but not from your MYOB cards and you now want to synchronize this card e You deleted a card from your MYOB cards but not from your Address Book and you now want to synchronize this card e You deleted a group folder from your Address Book and you now want to synchronize MYOB cards of this type e You moved an Address Book card to an MYOB group folder for example from the All folder to the Customer folder and you want to synchronize this card You also need to reset the synchronization if you clicked Don t Allow in the Sync Alert window at step 3 in To synchronize your MYOB cards and your Address Book cards on page 177 To reset the synchronization You can reset the synchronization by clicking Reset Sync in the Synchronize Cards window see step 3 in To synchronize your MYOB cards and your Address Book cards on page 177 User Guide Synchronizing your MYOB cards and your Mac Address Book cards 4 79 180 chapter 10 Lists MYOB AccountEdge 2007 v7 11 Transactions A transaction
432. ublic folder Mac OS X This procedure shows how to access the remote Public folder and ensure that the Macintosh workstation connects to it automatically when you log in In the Finder go to the Go menu and choose Connect to Server In the Connect to Server window click the Local domain in the left list and then click the host computer to which to connect in the right list for example hongs mac or Type the URL for the Apple Filing Protocol AFP that is TCP IP in the Address field for example afp 192 168 75 5 Click Connect 2 Click Browse in Mac OS X 10 4 Accessing the shared company file from Mac OS X workstations 269 4 Inthe Connect to file server window click Guest and then click Connect 5 Inthe Select the volumes window click the remote user folder to be mounted for example share folder and click OK A network disk icon appears on the desktop 6 Open the Accounts control panel in System Preferences 7 Click the user account in the left pane then click the StartUp Items tab 8 Drag the network disk icon from the desktop into the StartUp Items tabt and close the Accounts control panel Now at each login the user s workstation will be connected to the remote Public folder on the host computer When you store company files in this shared Public folder on a host they can be accessed from workstations HINT Access the remote company file with an alias Open the shared Public folder clic
433. unt for the activity or invoice part of it leaving the balance for a later date You can create an activity slip in three ways e create a single activity slip which allows you to enter the most detail about the activity slip e 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 e 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 112 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 cards one 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 132 Chapter 7 Billing for time 3 To inactivate an activity see To inactivate or reactivate a record on page 173 To remove an activity from your records see Deleting a record on page 173 To create an activity slip Go to the Time Billing command center and click Enter Activity Slip The Enter Activity Slip window appears Click the Activity Slip tab Employee Slip ID AS00028 Date 9 14 07 Units Cust
434. unt for tracking cost 149 exporting 257 finding 172 finished item defined 155 Buy this Item preference 148 Inventory this Item preference 148 Sell this Item preference 148 importing 259 last cost 152 linking picture to 262 locations 153 moving between locations 153 negative on hand quantities 67 number per selling unit 150 opening quantities and values entering 150 price levels changing 161 setting 161 setting custom 162 purchase history 95 161 receiving without a bill 90 sales history 73 161 setting up 148 standard cost 149 time billing invoices including on 128 transfers 155 using custom fields for recording details of 165 Items List Summary report 152 items received setting up accrual account for 90 Items Register window finding transactions using 184 jobs assigning to payroll categories 119 purchases 87 Receive Money transactions 45 sales 65 Spend Money transactions 48 budget allocation 221 budget amounts entering 221 changing 172 creating 219 220 deleting 174 detail jobs 220 exporting 257 finding 172 header jobs 219 importing 259 job tracking tasks 219 opening balances entering 220 setting up 219 sub jobs 219 using for tracking income and expenses 217 219 journal entries exporting 257 importing 259 recapping transactions for 48 66 recording 240 L last cost of an item 152 layout customizing forms 210 purchases 87 sales 64 setting default 24 27 leave accruals sick 107
435. ur MYOB Sales Set up your customers and sales information page 24 accounting software has the following Easy Setup Assistants Purchases Set up your vendors and purchase page 27 information Payroll Create payroll categories and enter your page 29 employees pay information 17 Other setup tasks These tasks are performed by selecting options from the command center windows or menus For information on how to set up e tax codes see page 170 e items see page 148 e bank accounts for reconciling see page 34 e MYOB Business Services see page 37 e categories and jobs see page 217 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 cusomze that you can set we Click Next to move through the windows and click Close when you have finished Then continue with Setting up accounts on page 19 The following are some of the preferences you can set with the Customize Easy Setup Assistant 18 Chapter 2 Setting up your company file To access the Easy Setup Assistants 1 Go to the Setup menu and choose Easy Setup Assistant The Easy Setup Assistant window appears eoe Easy Setup Assistant
436. ur 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 Repeat this procedure for each currency you want to assign to the relevant accounts 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 Exchange rates Foreign currency transactions can be recorded for e Sales Receive Payments and Settle Returns amp Credits e Purchases Pay Bills and Settle Returns amp Debits 142 Chapter 8 International transactions NoTE A card with transactions You can t 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 Go to the Card File command center and click Cards List The Cards List window appears Click the zoom arrow gt next to the required card to display the Card Information window Select the Profile tab In the Currency fi
437. urchase After you have finished entering details in the Purchases window there are several ways you can complete the purchase e Record the purchase To record the purchase without printing it click Record e 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 205 e 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 e 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 e 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 187 User Guide Adding
438. urchase 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 50 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 71 Entering a purchase transaction Complete the following steps to enter a purchase transaction Step Action See 1 Enter information about the vendor below 2 Choose the type of purchase below 3 Enter the items or services you are purchasing page 87 4 Enter additional information about the purchase page 88 5 Complete the purchase page 89 86 Chapter 5 Purchases Step 1 Enter information about the vendor Go to the Purchases command center and click Enter Purchases The Purchases window appears In the Vendor field type or select the vendor s name The terms shown in the Purchases window are the terms recorded in the vendor s card Complete the fields as described in the table below e080 Purchases New Item BILL a Vendor Border Digital 5 Terms gt 2 5 Net 30 Ship to HB Widgets amp Co Purchase 00000133 Sure 148 ae 100 Main Street Daj 9 15 07 Rockville NJ 07945 Vendor in A BI C A Click the
439. ure 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 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 56 Chapter 3 Banking To enter a credit card payment Open the transaction window in which you ll make the payment and enter the transaction details For more information on entering details for receive money transactions see Receiving money on page 43 e receive payments transactions see Receiving payments on page 73 e sales transactions see Entering sales on page 63 e sales return and credits transactions see Creating customer credits on page 79 In the transaction window select the customer s credit card type from the Payment Method list Click Details to enter details about the payment The Applied Payment Details window appears If yo
440. urring Transactions The Recurring Transactions List window appears MYOB AccountEdge 2007 v7 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 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 Click Close when you ve finished editing the recurring transaction 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 Go to the Lists menu and choose Recurring Transactions The Recurring Transactions List window appears Select the recurring template you want to delete and click Delete A message appears Click OK to delete the recurring transaction User Guide Recording recurring transactions For recurring transactions that are not set up to record automatically you can e record a single recurring transaction from a transaction window e record several transactions at the same time e if you use the reminders option record a recurring transaction from the Reminders window For m
441. v7 ENTER ACCRUAL DEDUCTION AND EXPENSE INFORMATION 7 Click Accruals and click in the select column C1 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 employee s tax details a Select the employee s 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 C1 next to each tax category that applies to the employee e008 Card Information Profile Card Details Payroll Details Payment Details Contact Log History Berringer Charles E4 Personal Details Tax Level Federal Marital Status Married B Wages D State Allowances 0 Extra Withheld 0 00 Accruals Deductions Employer Expenses Taxes gt Tax Recurring Pa chia Advance Earned Income Credit Federal Pay History V amp Federal income Tax Federal 0 V amp Federal Medicare Tax Federal Time Billing V amp Federal Social Security Tax Federal V New Jersey Disability Insur state New Jersey Health Care State s Print E Create New Payroll Category 7 New Pf Cy Help New cn ENTER RECURRING PAY DETAILS
442. ventoried items while the Item Number view displays all the customer and vendor orders for a selected item 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 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 195 e 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 MYOB AccountEdge 2007 v7 e 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 item s 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 e Price summary report This report lists your item prices and is useful for sending to your customers You could also convert Setting
443. w 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 User Guide Setting up tax codes 171 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 Assets tab Within the tab you can use the scroll bar to find the account All Accounts Assets Liabilities Equity Income Cost of Sales Expenses Other Income Other Expenses Search fields 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 Changing a record You can make changes to accounts e cards e categories e foreign currencies if you ve selected the I Deal in Multiple Currencies option in the Preferences window 172 Chapter 10 Lists Search field and press ENTER The first matching record is highlighted If you have specified in the Preferences window that you want to s
444. will be available from the Custom tab of the Index to Reports window 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 Go to the Reports menu and choose Index to Reports The Index to Reports window appears Locate and select the report you want to display 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 200 User Guide 4 Click Send To and choose one of the following file formats e 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 e HTML When you save a report in HTML HyperText Markup Language format the report can be viewed in browsers such as Microsoft Internet Explorer e Tab Delimited Text File When you save a report in tab delimited 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 e 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 e Simple Text File When you save a report in simple
445. window appears Click the Orders tab and select the order you want to convert Click Change to Invoice The Sales window appears displaying the sale with an Invoice status Make any changes you want to make For example you may want to change the transaction date to today s date Click Record to record the invoice To simultaneously convert several orders to invoices Click To Do List from any command center The To Do List window appears 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 gt to the left of the customer s name Select the orders you want to convert to invoices by clicking in the select column L 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 Enter a date and click OK MYOB AccountEdge 2007 v7 To convert a quote or an order to a purchase order 3 Click Create PO The Purchases window appears with the new purchase order displayed 1 Go to the Sales command center and click Sales Register The Sales Register window appears 4 Make any changes you want to make For example you may want to change the transaction date to today s date or add items to the 2 Locate and select the quote or order you want to convert order e To convert a quote click the Quotes tab and select
446. 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 Go to the Reports menu at the top of the screen and choose Index to Reports The Index to Reports window appears 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 195 MYOB AccountEdge 2007 v7 To view sales history You can view sales history for an item a customer or an employee Display the Item Information window for an item or the Card Information window for a customer or an employee 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 employee s sales history you need to select that employee as the salesperson when you record a sale in the Sales
447. x software for more information see Windows Help Go to the Reports menu and choose Index to Reports The Index to Reports window appears 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 198 Chapter 12 Printing and customizing reports Select the report you want to fax 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 200 Click Send To and choose Fax Use your fax software to send the fax as you normally would To view reports in Microsoft Excel You must have Microsoft Excel installed on your computer Go to the Reports menu and choose Index to Reports The Index to Reports window appears Select the required report 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 200 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 NOTE Single user access required If you share your company file on a network
448. y serve a company file to multiple users on client workstations 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 Macintosh workstations The workstations must be running Mac OS X Setting up hubs cabling computers and configuring network hardware and software require expert knowledge If setting up a network for the first time show this appendix to a networking expert 265 This section starts from the point where the network is already set up A local area network LAN can be set up in many different ways so this section describes only the common situation of a LAN protected from the external Internet by a firewall on a router or gateway computer Continue with the following tasks e Setting up the network hardware page 266 e Setting up a company file folder on a Mac OS X host page 266 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 in the Installing MYOB AccountEdge chapter of the MYOB AccountEdge Getting Started guide Networking Local area network LAN peer to peer Mac OS X host Mac OS X 10 2 5 or later AppleShare IP 6 2 or later not Samba Equipm
449. yee from the pay run clear the select column _ next to the employee s name 2 When you have finished click Next to continue The Select amp 2 if d toch th details f lick th Edit Employee s Pay window appears you need to change the pay details for an employee click the zoom arrow gt next to an employee s name In the Pay Employee window that appears you can e change the hours worked see page 117 e record vacation and sick pay see page 117 e record any other types of pay see page 118 e assign job numbers to payroll category amounts see page 119 e change the employee s bank account details see page 119 116 Chapter 6 Paying your employees MYOB AccountEdge 2007 v7 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 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 employee s 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 1 Inthe Select amp Edit Paychecks window click the zoom
450. ying bills voice evens eee cence eg emcee ties 72 Exchange rates 0c cece ee eee 142 Preparing electronic payments using Tracking currency gains and losses 143 MYOB Vendor Payments 98 Miscellaneous transactions 145 Creating vendor debits 99 Adding finance charges paid 101 9 Inventory 147 6 Paying your employees 103 Basic inventory tasks aaa 147 Creating items 0 02 eee eee ee 148 Payroll setup tasks 0000 5 103 Making inventory adjustments 152 Creating payroll categories 104 Multiple inventory locations 153 Creating employee cards 109 Building items 0 ce eee eee 155 Entering employee payroll information 110 Auto building items 156 Timesheets 00 0 eee eee 112 Count inventory ee eee eee 158 Processing your payroll 114 Reviewing your inventory information 159 Payroll liabilities 123 Setting item prices 0 0000 161 Reviewing payroll information 124 Customizing inventory 162 7 Billing for time 127 10 Lists 167 Setting time billing preferences 128 Adding a re
451. yment 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 Option 2 Record the payment in the Bank Register window Banking command center Type Spend Money 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 37 Spending money 47 To record money you spend 1 Goto the Banking command center and click Spend Money The Spend Money window appears e008 Spend Money Pay from Account 1 1110 Checking Account Group with Electronic Payments Balance gt 17 900 00 Card gt USA Gas amp Electric 3 Check T211 Payee isi USA Gas amp Electric Date 9 14 07 100 River Way Acct 9099 09 00922 AcuneS654 30 Six Hundred Fifty Four and 30 100 United States Dollars Memo USA Gas amp Electric Widgets amp Co Acct Name Amount Job Memo 6 6060 Utilities 654 30 x Total Allocated 654 30 Check Already Printed Total Paid 654 30 Payment Notification Delivery Status Out of Balance 0 00 To be Printed B Save as Recurring C Currency USD Category G G y j 5 Help Print Jour
452. ynchronize to start the synchronization process If you need to reset the synchronization click Reset Sync For more information see Resetting the synchronization on page 179 If you are synchronizing cards for the first time or you are resetting the synchronization the Sync Alert window appears AccountEdge would like to sync Contacts with Address Book and other applications Contacts from Address Book will be merged with contacts from AccountEdge C Delete all contacts from AccountEdge before syncing Don t Allow Allow Before you can synchronize cards you need to register your MYOB software with Address Book Click Allow to register Synchronizing your MYOB cards and your Mac Address Book cards 477 NOTE Do not click the Don t Allow button If you click Don t Allow you need to reset the synchronization before you can synchronize cards For more information see Resetting the synchronization on page 179 The synchronization process starts NOTE The time taken to synchronize will vary depending on the number of cards you have 4 Ifa conflict occurs between the details recorded in your MYOB cards and the details recorded in your Address Book the Conflict Resolver window appears A conflict occurs when the same field has been updated in both your Address Book and your MYOB cards Conflict Resolve There is 1 sync conflict involving Contacts Would you like to review and correct these conflicts now
453. ynchronizing cards and Mac Address Book 176 updating for MDD and MVP 40 CaseWare 258 exporting to 258 importing from 258 259 cash wages creating a transaction to record 122 categories changing 172 creating 218 deleting 174 enabling allocation of 218 finding 172 setting up 218 tracking financial information using 218 See also payroll categories chargeback 54 charging for time See time billing chart of accounts See accounts checks custom 210 customizing 211 entering 49 printing 207 recurring 49 97 voiding 53 Checks amp Forms guide 11 collection letters 261 columns moving and resizing in reports 197 command centers 13 15 Company Data Auditor 224 230 233 company files auditing 230 backing up 248 checking for errors 230 251 located in a shared public folder 265 locking 253 optimizing 252 purging unwanted data from 252 restoring from backups 250 setting conversion month setting up 17 sharing on a network limiting factors 253 unable to open 252 verifying 231 251 company files folder See network components using to auto build inventory items 155 contact log 261 Contact Log Entry window 261 contact reminder 261 contra accounts 82 contra payments 82 conversion month entering opening balances 23 Copy From button 148 cost of an inventory item average 152 last 152 standard 149 cost of sales account for tracking 149 Count Inventory window 150 counting inventory 158 credit card customer pay
454. 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 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 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 User Guide 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 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 fi
455. 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 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 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 Linked Payable Account is the liability account to which your expense will accrue The Account for Deductions amp 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 e SUI for state unemployment insurance e SDI for state disability insurance e Other for all expenses other than SDI or SUI such as matching amounts for 401 K and insurance programs 108 Chapter 6 Paying your employees If you are creating an SUI or SDI expense type enter the wages limit MYOB AccountEdge 2007 v7 To edit a payroll category NOTE Payroll categories linked to employee car
456. 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 e Manual update Go to the Window menu and choose Refresh All To update an on screen report in the Report Display window click Redisplay 256 Chapter 16 Managing user accounts and company files Improving performance The following list provides a number of ways in which you can get the most out of your MYOB accounting software e Use single user access whenever possible e Optimize your company file frequently see Optimizing your company file on page 252 e Do not mark the Automatically Refresh Lists when Information Changes checkbox in the Preferences window e Do not check for duplicate transaction numbers e Use Easy Fill when entering card names account names and item numbers or names e Avoid leaving list windows open e Use only a few linked accounts for inventory items e Combine line item quantities on sales and purchases e Generate large reports when you re the only person using the company file e Print reports by a specific month instead of by a date range MYOB AccountEdge 2007 v7 Appendix A Importing and exporting data Exporting data You can take data entered in your MYOB accounting software
457. you should note that this task requires single user access For more information see Single user file locking for special tasks on page 253 MYOB AccountEdge 2007 v7 To create a report batch NOTE Reports excluded from batches Some reports such as the Reconciliation report can t 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 1 Goto the Reports menu and choose Report Batches The Report Batches window appears SKORS Report Batches Period January is Choose a Report Batch for Printing Nev Help y New Close E Print gt Click New All the reports that can be batched appear Enter a name for the batch 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 Click OK The Report Batches window reappears with the name of the new batch in the scrolling list User Guide To print a report batch Go to the Reports menu and choose Report Batches The Report Batches window appears Select the relevant period from the Period list 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 exa
458. ypes of pay such as sales commission and bonuses on a timesheet you don t need to use this procedure 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 110 In the Select amp Edit Paychecks window click the zoom arrow gt next to the employee s name The Pay Employee window appears In the Hours or Amount fields next to each appropriate wage category enter the hours or amounts you want to record Payroll Category Hours Account Amount Job Base Hourly 0 6 5110 Wages 0 Overtime 1 5x 0 6 5110 Wages Sick Pay 0 6 5110 Wages Vacation Pay 8 6 5110 Wages 134 62 Base Salary 6 5110 Wages 673 08 Bonus 6 5110 Wages 250 00 Click OK The Select amp Edit Paychecks window reappears MYOB AccountEdge 2007 v7 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 Inthe Select amp Edit Paychecks window click the zoom arrow gt next to the employee s name The Pay Employee window appears e 00 Pay Employee Pay from Account 1 1120 Payroll Checking Account Balance gt 5 277 92 Payment Method Check Bi Employee gt Hopper Lynne Check Auto
459. zed 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 transfers deposits and withdrawals you 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 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 144 Chapter 8 International 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 the British customer Using MYOB accounting sof
460. zoom arrow gt gt 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 vendor s card B Type the purchase number here Cc If the vendor gave you an invoice number for the purchase enter it here 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 vendor s card MYOB AccountEdge 2007 v7 1 Check whether the default layout is appropriate 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 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 appears only for the Item layout 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 On

Myob AccountEdge 2005 Network Edition for Mac

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