Table of Contents

Contents
Acknowledgments .................................................................................. x
Preface .................................................................................................... xi
How to … index (by chapter) .............................................................. xii
How to … index (by function) .............................................................. xv
Installation of files from the DVD ......................................................... xx
Note for users of MYOB Premier and Enterprise ................................. xxiii
Note for users of Apple MacIntosh and MYOB AccountEdge Pro v13 xxiv
Chapter 1 Introduction to MYOB AccountRight Plus ... 1-1
Introduction .................................................................. 1-2
Conventions used in this book ...................................... 1-2
Using the “How to …” lists .......................................... 1-3
MYOB AccountRight Plus and the GST ....................... 1-4
Opening an existing file................................................ 1-4
MYOB AccountRight Plus essentials ............................ 1-6
Command centres ............................................. 1-6
Menu system ..................................................... 1-8
Dialogue boxes and selections .......................... 1-10
Preferences and security ................................... 1-10
Reports and Forms ............................................ 1-14
Printing (in general) ......................................... 1-16
“Zoom” and “Detail” arrows ............................ 1-17
Registers ....................................................................... 1-18
Backing up a file……………………………………… 1-20
Sample operations ........................................................ 1-22
General journal entry .................................................... 1-24
Purchase of an inventory item on credit ....................... 1-26
Sale of inventory items on credit .................................. 1-29
Receipt of money from a customer (Accounts receivable) 1-31
Make a deposit .............................................................. 1-33
Payment of money to an account payable .................... 1-34
Payment of money for a service ................................... 1-35
Print financial statements ............................................. 1-38
Competency checklist ................................................... 1-42
Assessment exercises.................................................... 1-43
Answers to self-test exercises (where applicable) ........ 1-46
Chapter 2 GST basics ....................................................... 2-1
Introduction .................................................................. 2-2
Basic GST concepts ...................................................... 2-2
Value-added tax in the supply chain ............................ 2-2
Taxable supply .................................................. 2-3
GST free supply ................................................ 2-4
Input taxed supply............................................. 2-5
Contents
iv
Simplified GST accounting methods ............................ 2-6
GST general ledger accounts ........................................ 2-6
MYOB AccountRight Plus tax codes ............................. 2-6
Deleting tax codes ......................................................... 2-9
GST codes for items ...................................................... 2-10
GST codes for customers .............................................. 2-11
Tax-inclusive and tax-exclusive transactions ................ 2-11
Printing GST reports ..................................................... 2-12
The Business Activity Statement .................................. 2-17
Useful sources of information on BAS and the GST .... 2-21
Competency checklist ................................................... 2-21
Assessment exercises .................................................... 2-22
Answers to self-test exercises ....................................... 2-24
Chapter 3 General ledger ................................................. 3-1
Introduction ................................................................... 3-2
Creating a new file ........................................................ 3-2
Accounts list maintenance ............................................. 3-6
Default GST codes for accounts ................................... 3-16
Using account names ..................................................... 3-20
Editing linked accounts ................................................. 3-20
Printing financial reports to check design ..................... 3-22
Entering existing balances ............................................. 3-23
Merging (combining) detail accounts ........................... 3-26
Adding budget data to accounts .................................... 3-27
Recording general journal entries ................................. 3-29
Balance day adjustments ............................................... 3-32
Providing for doubtful debts ......................................... 3-33
Depreciation .................................................................. 3-33
Periodic inventory entries ............................................. 3-35
Writing off an asset ....................................................... 3-38
Making an account inquiry ............................................ 3-40
End of financial year ..................................................... 3-41
Starting a new financial year ......................................... 3-45
The reversals ................................................................. 3-47
Competency checklist .................................................. 3-48
Assessment exercises .................................................... 3-49
Answers to self-test exercises ....................................... 3-63
Chapter 4 Cash transactions ........................................... 4-1
Introduction ................................................................... 4-2
The Goods and Services Tax (GST) ............................. 4-2
The Banking command centre ....................................... 4-3
Account name or account number? ............................... 4-3
Recording money received ............................................ 4-5
Using an Undeposited Funds account ........................... 4-9
Printing reports from the banking command centre ...... 4-16
Cash payments .............................................................. 4-19
Contents
v
Using MYOB AccountRight Plus cards ........................ 4-22
Using a petty cash “bank” account ............................... 4-23
Petty cash re-imbursement ........................................... 4-25
Recurring cheques ........................................................ 4-26
Bank reconciliation ....................................................... 4-33
Reverse (undo) a previous bank reconciliation 4-39
Electronic transactions and reconciliation .................... 4-40
Recording payments received by credit card .... 4-40
Depositing credit card payments received ........ 4-43
Using a credit card for payments ...................... 4-45
Reconciling the Visa card statement ............................ 4-47
Recording payments from the credit card statement .... 4-48
Bank reconciliation using downloaded statement file .. 4-48
Business Activity Statement (BAS) and GST report ... 4-53
Competency checklist ................................................... 4-56
Assessment exercises.................................................... 4-57
Answers to self-test exercises ....................................... 4-72
Chapter 5 Accounts receivable ........................................ 5-1
Introduction .................................................................. 5-2
An open item system .................................................... 5-2
Recording a sale on credit ............................................ 5-3
Account name or account number? .............................. 5-3
Check spelling before recording transactions ............... 5-4
MYOB AccountRight Plus tax codes ............................ 5-4
Adding or editing a tax code ........................................ 5-4
Creating customer records (card file) ........................... 5-6
Trading Terms .............................................................. 5-7
Maintaining a customer card ........................................ 5-14
Setting up Sales linked accounts to the general ledger. 5-15
Opening customer balances (Accounts receivable) ...... 5-16
Credit sales invoices ..................................................... 5-18
Using Quotes, Orders, Invoices and the Sales Register 5-27
Quotes and Orders preferences ..................................... 5-30
Changing a quote to an order........................................ 5-31
Changing an order to an invoice ................................... 5-33
Cash received from customers (Accounts receivable) .. 5-35
Using the Undeposited Funds facility .......................... 5-37
Preparing a bank deposit .............................................. 5-39
Credits to customer accounts ........................................ 5-42
Printing or emailing invoices ........................................ 5-47
Printing accounts receivable ageing report................... 5-50
Printing accounts receivable statements ....................... 5-52
Customer transaction detail .......................................... 5-55
Printing GST reports..................................................... 5-56
Back up before combining customer cards .................. 5-59
Combining customer cards ........................................... 5-59
Contents
vi
Dishonoured and re-presented cheques ............................. 5-61
Default setup for Sales (Easy Setup Assistant) ............. 5-65
Competency checklist ................................................... 5-68
Assessment exercises .................................................... 5-69
Answers to self-test exercises ....................................... 5-87
Chapter 6 Accounts payable ............................................ 6-1
Introduction ................................................................... 6-2
An open item system ..................................................... 6-2
Check spelling before recording transactions ............... 6-3
MYOB AccountRight Plus Tax Codes ............................... 6-3
Adding or editing a tax code ......................................... 6-3
Recording a purchase on credit ..................................... 6-5
Setting up custom lists and field names for suppliers’ cards 6-5
Setting up Custom Fields .................................. 6-5
Setting up Custom Lists ..................................... 6-5
Creating supplier records in a card file ......................... 6-7
Supplier trading terms ................................................... 6-9
Setting up Purchases linked accounts to the general ledger 6-14
Opening supplier balances (Accounts payable) ............ 6-15
Credit purchases ............................................................ 6-18
Using Quotes, Orders, Bills and the Purchases Register 6-22
Quotes and Orders preferences ..................................... 6-26
Changing a quote to an order ........................................ 6-26
Changing an order to a bill ............................................ 6-28
Payments to suppliers (Accounts payable) .................... 6-30
Debits to suppliers’ accounts ........................................ 6-32
Entering a deposit for credit refund received ................ 6-37
Printing or emailing a purchase order ........................... 6-40
Printing accounts payable ageing analysis .................... 6-42
Supplier transaction detail ............................................. 6-44
Back up before combining supplier cards ..................... 6-45
Combining supplier cards ............................................. 6-46
Printing GST reports ............................................................... 6-48
Default setup for purchases (Easy Setup Assistant) ...... 6-50
Recording contra receipts and payments....................... 6-53
Competency checklist ................................................... 6-57
Assessment exercises .................................................... 6-58
Answers to self-test exercises ....................................... 6-75
Chapter 7 Inventory and integration .............................. 7-1
Introduction ................................................................... 7-2
Item list.......................................................................... 7-2
Setting up items ............................................................. 7-3
Maintaining the item list ............................................... 7-16
Entering an initial inventory count (opening inventory) 7-18
Perpetual inventory system ........................................... 7-21
Using inventory items in a perpetual inventory system 7-24
Contents
vii
Items purchased on credit ............................................. 7-24
Return of items purchased on credit (credit notes rec’d) 7-28
Using Quotes, Orders, Bills and the Purchases Register 7-28
Changing a quote to an order........................................ 7-32
Recording receipt of items before supplier’s bill arrives 7-34
Changing an order to a bill ........................................... 7-36
Items sold on credit ...................................................... 7-38
Return of items sold on credit (cr notes issued to customers) 7-41
Using Quotes, Orders, Invoices and the Sales Register 7-42
Changing a quote to an order........................................ 7-45
Changing an order (or a quote) to an invoice ............... 7-47
Stocktaking ................................................................... 7-50
Inventory reports .......................................................... 7-52
Competency checklist ................................................... 7-55
Assessment exercises.................................................... 7-56
Answers to self-test exercises ....................................... 7-77
Chapter 8 Payroll .............................................................. 8-1
Introduction .................................................................. 8-2
Tax Table ...................................................................... 8-2
Gross pay, deductions and net pay ............................... 8-3
PAYG and the ‘Activity Statement’ ............................. 8-4
The payroll system for MYOB AccountRight Plus ...... 8-5
Setting up the payroll system and payroll categories ... 8-5
General payroll information ......................................... 8-8
Setting up employee records (cards) and standard pays 8-9
Setting up payroll categories ............................ 8-19
Using the Easy Setup Assistant .................................... 8-36
Paying employees each pay period............................... 8-37
Paying the Net Pay amounts to employees on payday 8-38
Automatically adjust base pay amounts for days off 8-43
Adjustments to the standard pay ....................... 8-44
Using timesheets for recording hours worked .. 8-47
Payroll category inquiry ................................... 8-50
Payments of amounts withheld ..................................... 8-51
Carrying out payroll end-of-year functions .................. 8-53
Starting a new payroll year ............................... 8-58
Starting a payroll during a payroll year ............ 8-59
Competency checklist ................................................... 8-63
Assessment exercises.................................................... 8-64
Answers to self-test exercises ....................................... 8-76
Chapter 9 Categories and jobs ........................................ 9-1
Introduction .................................................................. 9-2
Information design........................................................ 9-2
Account levels .............................................................. 9-3
Contents
viii
Adding categories .......................................................... 9-3
Setting up categories ......................................... 9-4
Creating categories ............................................ 9-5
Adding jobs ................................................................... 9-7
Creating jobs...................................................... 9-7
Job budgets .................................................................... 9-12
Transactions using categories and jobs ......................... 9-14
Purchase of trade goods on credit...................... 9-14
Sales invoices .................................................... 9-18
Cash sales received ............................................ 9-20
Recording cheques paid..................................... 9-22
Recording general journal entries with jobs and categories 9-25
Changing completion percentage .................................. 9-27
Printing reports .............................................................. 9-28
Competency checklist ................................................... 9-30
Assessment exercises .................................................... 9-31
Answers to self-test exercises ....................................... 9-36
Chapter 10 Ergonomics (chapter on accompanying DVD) ............ 10-1
Definitions
What is ergonomics? ......................................... 10-2
What are OOS, MSD and RSI? ......................... 10-3
Parts of the body that can be affected.. ......................... 10-3
Symptoms to watch for ................................................. 10-3
Unsafe situations in the office ....................................... 10-4
Unsafe or undesirable working habits ........................... 10-4
What can we do? ........................................................... 10-5
Good posture ..................................................... 10-6
Exercises ............................................................ 10-7
A special section on the eyes ........................................ 10-8
Good procedures to follow and practice............ 10-8
Chapter 11 Help (chapter on accompanying DVD) ........................ 11-1
Introduction ................................................................... 11-2
Available sources of help .............................................. 11-2
The manual ........................................................ 11-2
After sales phone service ................................... 11-2
Installing the program and Help on a CD.......... 11-2
Help on the Internet ........................................... 11-3
MYOB Help ................................................................... 11-3
How to use the MYOB Help .......................................... 11-5
Search help option ......................................................... 11-5
Printing help topics ....................................................... 11-6
Additional help features offered .................................... 11-7
The Assistant .................................................... 11-7
MYOB Australian website ................................ 11-7
Contents
ix
Competency checklist ................................................... 11-7
Icons and symbols ....................................................... 11-8
Abbreviations and field names .................................... 11-11
Using the keyboard with MYOB AccountRight Plus .... 11-12
Making a selection using the keyboard ........................ 11-12
Tab, enter, return and the space bar ............................. 11-12
Keyboard shortcuts used in MYOB AccountRight Plus 11-14
Appendices Appendix A: Help ......................................................... A-1
Appendix B: Ergonomics and OH&S ........................... A-3
Glossary (on the accompanying DVD)......................... G-1
GST Glossary (on the accompanying DVD) ................ G-27
Index .......................................................................... Index-1

About the Author

Bill Neish is an experienced author and wrote Cost Accounting Questions for Holt-Saunders in 1985. He is a co-author of Management Accounting: Principles and Applications with Alan Banks (McGraw-Hill, 1996). He has extensive experience teaching in TAFE and well respected amongst his colleagues in NSW. He is currently working at Hill Rogers, Chartered Accountants firm and teaching part-time at Macquarie University.
George Kahwati teaches at Meadowbank College of TAFE in NSW. He also has a vast experience as a small business operator. Both of these authors have been teaching computer accounting using MYOB since 1989.