Lynley Averis
Lynley Averis
Setting up Electronic Payments
Electronic Payments to suppliers can be easily made from MYOB AccountRight. It results in just one entry showing on your bank reconciliation window, representing the direct debit from your bank account to your multiple suppliers and saves lots of work paying your creditors and suppliers. This feature also creates the file that your banking software […]
Continue readingHome Office and MYOB
Home Office Percentages Question: I am new to MYOB and have mastered it really well apart from the splits of home and business components e.g. power & phone for GST purposes. My Accountant installed the program with all codes etc but I seem to have a mental block on the home/business divisions. Answer: There are […]
Continue readingCustomer Discounts & Returns
Question: 1 We have different price levels for different customers. But it is not permanent, it changes all the time. For instance one shop had 10% discount on May but did not have it in June. What should I do? 2 Also, in purchase command centre in purchase register you can choose returns and debits. […]
Continue readingAccounting for Hire Purchase Agreements
Question: How do you enter transactions when you purchase a fixed asset using Hire Purchase (HP) from a finance company in MYOB AccountRight? Answer: Create Balance sheet accounts as follows: 1. Asset account called Fixed Asset, GST code S15 2. Liability account called eg: Hire Purchase – ABC Finance, GST code N-T 3. Liability account underneath the Hire Purchase […]
Continue readingMYOB Payroll – Backup & Restore
Question: I have just started with the MYOB Payroll software. I have a question just in regards to the backing up of the payroll file. I have saved them (backed up) onto a flash stick (I also saved it onto my C drive). However when I went to open them up I couldn’t read them. […]
Continue readingCorrecting an Inventory Out of Balance
Problem: The Inventory Value Reconciliation report shows an out of balance at the bottom. What causes this and what can I do to fix it? Solution: If inventory items have been set up correctly, your inventory asset account balance should only ever fluctuate in accordance with the item sales and purchases you have put into […]
Continue readingAssign correct GST codes to your Accounts List
MYOB AccountRight has standard GST codes as per the list below. Other GST codes may be setup and used to account for Rest Homes, Australian GST and other needs. S15 – GST 15% N-T – No Tax 0% E – Exempt Supply 0% Z – Zero Rated 0% When MYOB AccountRight is initially set up with […]
Continue readingHow can I view previous pays & reprint payslips?
You can view employees pay history and reprint past payslips. From Maintain Employees section, select the Pay History tab. To reprint a previous payslip, double click on the payslip concerned. It will open. At this point the payslip may be printed or emailed. Note that the leave on the payslip will be the current leave […]
Continue readingPayroll – Quick Tips & Shortcut keys
Find below some fairly random tips for those of you who use MYOB Payroll Take care setting up new employees – make sure you go to each tab in Employee Maintenance and remember to set up their standard no of hours and days per week. Always remember to finalise a pay. You backup first and […]
Continue readingHow to remove ex-employees from MYOB Payroll?
Normally employees should be finished using the Final Pay button in the Enter Pays screen which will pay out any annual leave and alternative leave balances. If this isn’t done the employee will continue to appear in the payroll and show in the IRD reports. If you have old employees who have finished, follow this […]
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