"MYOB" is a trademark owned by Data-Tech Software Pty Ltd.
This Firm is a licensed reseller of MYOB and has several years experience in tailoring
the program to needs of businesses, from professional practices to the building and
construction industry, sole traders to medium sized companies.
We supply the software at competitive prices, or provide value added to on-going clients
by packaging it with design, installation and training.
You may email your requirements but all software packages must be prepaid by your
credit card details unless arrangements are made to pay by cheque. Delivery is subject to
clearance of cheques.
Options Avaliable :
MYOB
software only - choose your package :
•Premier -comprehensive multi-tasking Accounting system- for
example you may have separate payroll and debtors clerks
accessing the system at the same time but you may have
the full picture of your enterprise by access to the general
ledger Reports
•MYOB 8 with payroll - Not multi-tasking but security levels
may be set for access to parts of the program.
•MYOB 8
•First Accounts - ideal for the sole trader who needs to
track his
business progress and be ready for the GST.
DESIGN SET-UP MODULES & FEATURES
Customizing the system to your business type and preferences:
•chart of accounts, •general ledger opening balances
•payroll •job cost set up •contact cards
•debtors •creditors •inventory
TRAINING
• To get you off to a flying start we can tailor a schedule to suit your needs.
FINANCIAL
& TAX PLAN
New clients who order the MYOB Version 8 software with set up and a training package of a
minimum 3 hours, will be entitled to a free one hour session at the Surry Hills office to
prepare a Twelve Month Trading and Tax Budget Model.
•NOTE RE AUSTRALIAN BUDGET AMENDMENTS RE SOFTWARE
Note that new software licences costing greater than $ 300 may only claimed as income tax
deductions over 2 1/2 years or 40 % prime cost. Clients who seek a package arrangement
will not be disadvantaged by the proposed new law. A competitive market price will be
charged for software and separate allocation for set up or training will be invoiced as
appropriate.
Getting Started with your new MYOB program
Some basic Tips
•SEPARATE DATA FILE FOR EACH ENTITY
Have you set up a data file ? Do NOT use the Tutorial Data File ! It is easy to set up a
data file using the Myob wizard but the resulting Chart of Accounts and Set up of
Historical Balances may not be appropriate to your business. We can assist by designing
and developing a tailor-made data file and system that will be a pleasure to implement.
•CHEQUE BOOK INPUT & RECONCILIATION
If you do not intend using the Payroll, Sales or Creditors Modules you should get your
feet wet by learning how to enter cheques and deposits and reconcile them to your Bank
Statements.
The first task is to input from the cheque butts and deposits slips using "Write
Cheques" and "Make a Deposit" in the "Command Centre."
Classification codes are listed on the chart of accounts but may be accessed in most parts
of the package when the cursor is in the Account code area by pressing "TAB." We
are able to design, set up and refine the chart of Accounts as is appropriate for your
business.
Dates - Careful as with most programs, the default is the system date, not the date
on your cheque butt! You will easily lose a transaction and confuse the reconciliation
process if the wrong date is entered.
Banking - Receive Money
If you are not using the Sales and Receivable modules of MYOB each banking should be
inputted directly to CASH RECEIPTS in the CHEQUE BOOK SECTION OF THE COMMAND CENTRE.
Each deposit amount and detail is entered individually (optionally using contact cards for
major customers).
Care to alter date to transaction date, change id to one id per bank deposit.
Reconciliation
It is imperative that after inputting the cheque payments and deposits for a given time
frame that you then reconcile the cash book balance on the computer back to your bank
statements, by clicking each transaction off. We can help you with the procedure here or
by telephone . Print the Reconciliation Report and file with the Cash Book Reports. Do not
input more than one month prior to reconciling! You may reconcile day by day or week by
week for that matter, but get the procedure right before getting in a mess!
Session Reports
After saving your work, you should get in the habit of printing a "session
report" which you may file in a separate binder. You could have a section in the
binder to file "Cash Disbursement and Receipts Journals" which effectively are
the result of Session Reports.
Backups
The Program may be set to prompt you to Backup after each Session. We recommend that you
acquaint yourself with the very effective "zip" backup included with MYOB. It is
very handy once your data file exceeds 1.44 Meg and you do not have a Zip Drive.
Payments & Interplay with Purchases (Payables)
Coding Payments for Suppliers
If your business uses the Purchases\Creditors to enter payables, so payments for those
items will need to be inputted in the Purchases Command Centre, not the Cheque Book part
of the program.
Care here to avoid mis-coding or duplications. You need to become familiar with the
list of suppliers entered via the Payables part of the program. Where a purchase invoice
has been entered in the payables section of the Command centre, each suppliers' account
must be reconciled and then payment authorised by the Manager.
The cheque made out to the supplier must be coded to the correct Trade Creditors
Account in the General Ledger. At least once a month the Trade Creditors in the General
Ledger must be reconciled to the Payables Subsidiary Ledger. There are appropriate Report
facilities contained in MYOB for this purpose.
Coding Payments for Payroll
If one pay cheque or ATM, other Direct debit system is made out to cover several
employees, the PAYROLL Module should be utilised with a Payroll "Cheque"
Clearing Account. Each payroll cheque (made out to cash ) must be debited to Payroll
Clearing Account to zero that account. After each pay is inputted please check that the
Clearing Account has been zeroed or reconcile any timing differences.
A note re Payroll System : Care not to leave it to the computer to calculate PAYE
tax on lump sum payments covering more than one pay period !! Check the PAYE tax manually
and override the group tax Negative amount as appropriate.
Job Name - Many Applications to help with your Business
Job names (prefixes) may be allocated to every income and expense item but this is not
necessary. Some uses for job names include :
•to track superannuation and other expenses (say car expenses) for certain employees
•to check profits on certain projects or jobs •matter files for clients of
solicitors or architects
Contact Cards
For non-Purchase (payables module) items, you may set up a Card for each supplier or payee
and select the appropriate card for each deposit or payment. Change the Card
Classification as appropriate to "vendor", "employee" or
"customer."
The more you use card files or job names the more versatile your data retrieval
possibilities but the input will be slower.
Some uses for :
•Contact names include to track subcontractor payments gross of PPS or RPS •To
track regular customer payments if not using Receivables.
Amending Prior Transaction Input
You must not attempt to amend the amount of a cheque or deposit after reconciling. (The
program issues a warning but if ignored could lead to file corruption. ) Merely list the
queries, and after resolving we can effect an adjustment using a "journal" or in
some cases amend by "reversal" under telephone instruction. Note that the system
is not disturbed if you merely change the classification code after reconciling but do not
change a dollar amount.
CREDIT CARD Transactions
Credit card transactions may be taken up by setting up a Separate econcilable Account.
Care here as private charges must be debited to a loan account in the case of employer
Companies and may be deemed as an unfranked dividend for tax purposes unless they are
repayment of credit loan balances. Seek advice here.
.REPORTS
You may select This Month or two to three months in Spreadsheet Format for comparison
purposes. Quarter by Quarter is useful for budgeting purposes.
Drag the mouse to highlight the month or months you wish.
For example, if the Year has ended, Drag from period 1 to Period 12 or 13 to highlight all
periods.
These notes are intended as a checklist of some common basic problems only. Please see our
disclaimer. Telephone our Firm for professional assistance. Tel
(02) 9319 2504
Peter Belinfante
