Lynley Averis
Lynley Averis
Health check of your MYOB AccountRight file..
One of the time consuming activities of MYOB consulting is digging for dirt and uncovering entries which have gone astray in clients data files. Just because something is entered, allocated and now out of sight doesn’t mean it’s right. An MYOB accounts person should take a half day out every year to to the following […]
Continue readingDebits and Credits Rule
Some of you have taken formal accounting courses and know the debit/credit rules backward, forward & inside out. But the bulk of you have “fell into” a bookkeeping role when your real profession was a butcher, baker or a candlestick maker. Quite simply there are 5 account types and each one can go up or down […]
Continue readingLinked Accounts (connecting the modules in AccountRight)
How do we ensure our accounting is right when we use MYOB AccountRight as 80% of users have no formal accounting training? The answer to this boils down to MYOB’s famous linked accounts. When MYOB is first setup for a business, you ensure the correct general ledger accounts are selected as the linked accounts. This […]
Continue readingAdvantages/benefits of computerised accounting
The decision generally comes down to the owner and their previous experience or the advise they get from those around. Owners who have had a computerised accounting system in the past can see the benefits. They wouldn’t contemplate the idea of a manual system and realise they need an efficient accounting system to be serious and […]
Continue readingHow good is your office filing system?
I once went into an office and noticed a pile of paper a meter high next to a desk. I asked the accounts lady “what’s this?”. Oh she answered “that’s my filing! – I only do it once a year”… If this is you then sort it! Eastlight folders (or similar) are essential for your office to […]
Continue readingStatement of Cash Flows
Few people who use MYOB accounting software, benefit from this report. It is probably the most misunderstood reports but it is one of the most useful. Why is this? While profit is the name of the game, profits alone don’t guarantee success of a business. You can be profitable and growing as fast as Auckland’s […]
Continue readingIntegrate MYOB Payroll to MYOB AccountRight
MYOB Payroll seamlessly creates and sends a .txt file through to MYOB AccountRight every time you finalise a pay. Integrating takes a bit of painstaking work to get right but is really worth the effort. Integration saves a lot of manual entering and both accounting and payroll agree for evermore. It is much easier to balance […]
Continue readingCustomer Payments & undeposited funds
Q: Our company does a lot of cash sales and then we do a banking once a week or so. I enter each sale individually but when I reconcile the bank statement the cash sale amounts don’t show individually on the bank statement, rather it shows the full banking amount for the week. What do […]
Continue readingWhat do I need to have ready to set up an MYOB data file?
To save time and assist with the installation of MYOB AccountRight, you should have the following information ready for your MYOB Certified Consultant: Decide which month is your “conversion month” ie the month you wish to start making entries into MYOB Accounting. This can be any month during the year but ideally it is April […]
Continue readingRecording Intercompany Loans
Question: Say company A makes a loan to company B. I would like to know if there are different ways of recording it in the MYOB software. Do I go through Banking–> Spend Money–> and mention it is a loan to company B in the memo, in the books of company A and go through […]
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