Category Archives for "Accounting"

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 […]

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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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Bank Feeds? Why do you need ‘em?

Automated bank feeds completely change your MYOB work flows and with it, improve accuracy and reduce the time you spend doing accounts. As the MYOB user, you get Bank Feeds on a daily or other basis. All entries come into MYOB since the last time you clicked on Get Bank Transactions. Unlike other online programs we […]

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