Category Archives for "Accounting"

Customer 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 […]

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Landed Cost Procedure for Importers

Your MYOB software cannot automatically apportion landing costs to individual line items. This procedure is a workaround to ensure that: Stock on Hand is valued at full landed cost Cost of Sales reflects landed cost of stock sold Actual landed costs can be easily identified Please follow these instructions to set up Setup Steps Set up cost […]

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Setting up MYOB AccountRight Video Tutorial

This video tutorial demonstrates the steps to take to set up an existing business on MYOB AccountRight. It covers the setup assistant, entering opening account balances, debtors and creditors balances.  Before starting it is important to gather the information together including your last set of tax accounts produced by your accountant, your conversion balances (bank, […]

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Entertainment Expenses

We get plenty of questions on the subject of entertainment. Some new business owners get excited by the thought of entertainment but for all the wrong reasons..! Use the table below to help code entertainment correctly (maybe have an expense code for 100% and another for 50%).  Don’t expect your accountant to spend hours wading […]

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