AccountEdge

User Guide
MYOB US, Inc.
WEBSITE: http://www.myob.com/us

© Copyright MYOB Limited, 2002

All rights reserved.

Trademarks

MYOB, the MYOB Logo and AccountEdge are registered

trademarks, and Small Business. Smart Solutions. is a service mark,
of MYOB Limited. Microsoft Office, Microsoft Excel, Microsoft Word
and Windows are either registered trademarks or trademarks of
Microsoft Corporation in the United States and/or other countries.
Intuit, QuickBooks and Quicken are registered trademarks of Intuit,
Inc. QuickTime and the QuickTime logo are trademarks of Apple
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other countries. The Built for Mac OS X graphic is a trademark of
Apple Computer, Inc., used under license. v® Card is a registered
trademark of the Internet Mail Consortium. Other products
mentioned may be trademarks of their respective companies.

This User Guide is intended for use with MYOB AccountEdge

version Version 3, October 2002.

2 MYOB AccountEdge, Version 3 us

 MYOB US, Inc. Software License Agreement License is automatically terminated if you violate any portion of this Agree-
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User Guide 3
 exclusion of liability for incidental or consequential damages so the above limi-
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4 MYOB AccountEdge, Version 3 us

 Contents

Getting Started 9 Tracking Credit Card Purchases 57

Recording Miscellaneous Transactions 58
Learning Tools 10
Where to Start 12 Entering Sales and Payments 59
Creating a New Company File 14
Entering Sales 60
Navigating in MYOB AccountEdge 17
Changing the Status of a Sale 64

Setting Up Your Company File 19 Reviewing your Sales Information 65

Receiving Payments 67
Overview 20
Adding Finance Charges 69
Setting up Preferences 21
Creating Customer Credits 70
Setting up Accounts 22
Setting up Sales details 25 Entering Purchases 73
Setting up Purchase details 28
Entering Purchases 74
Setting up Payroll details 31
Changing the Status of a Purchase 78
Setting up Items 37
Reviewing your Purchase Information 80
Setting up your Bank Accounts 41
Paying Bills 82
Setting up Categories and Jobs 42
Creating Vendor Debits 84

Receiving and Spending Money 47 Managing Your Inventory 87

Receiving Money 48
Making Inventory Adjustments 88
Preparing a Bank Deposit 50
Making Inventory Transfers 90
Spending Money 51
Auto-building Items 91
Entering Transactions in the Bank Register 53
Counting Inventory 93
Importing Statements into MYOB AccountEdge 55

5
Reviewing your Inventory Information 94 Working with Activity Slips 138
Setting Item Prices 96 Creating Time Billing Invoices 138
Customizing Inventory 97 Tracking Work in Progress 140
100
Recording International Transactions 141
Working With Lists 101
Creating Multicurrency Transactions 145
Adding a New Record 102 Tracking Currency Gains and Losses 146
Finding a Record 104 Working with Multicurrency 148
Changing a Record 105
Printing Forms 151
Deleting a Record 106
Inactivating/Reactivating a Record 107 Finding Forms 152
Printing Forms 153
Working With Transactions 109
Customizing Forms 155
Finding a Transaction 110 Adding Elements to a Form 157
Changing or Deleting a Transaction 114
Using Reports 161
Reversing a Transaction 115
Working with Recurring Transactions 116 Finding Reports 162
Customizing Reports 163
Paying Your Employees 119
Working with Reports 167
Creating Payroll Categories 120 Preparing to Print Reports and Forms 170
Changing or deleting a Payroll Category 125 Printing Report Batches 172
Paying Your Employees 126
End of Period Procedures 173
Reviewing Payroll Information 130
Year-end Procedures 179
Billing For Time 131
Starting a New Fiscal Year 180
Setting Time Billing Preferences 132 Starting a New Payroll Year 182
Setting Billing Rates 133
Creating Activities 134
Creating Activity Slips 135

6 Contents MYOB AccountEdge, Version 3 us

Maintaining Your Company File 185
Setting up Passwords 186
Backing up your Company File 187
Restoring a Backup of your Company File 189
Working with your Company File 190
Using your Company File on a Network 192

Importing and Exporting Data 197

Importing Accounting Data 197
Exporting Data from MYOB AccountEdge 199
Exporting to and Importing from CaseWare 200

More Tools for Managing Your Business 201

Index 205

User Guide Contents 7

8 Chapter MYOB AccountEdge, Version 3 us
Chapter 1
Getting Thank you for purchasing MYOB AccountEdge, which has been designed to make it easy
for you to keep track of your important financial information.

Started Keeping track of where your money is going is an important part of managing your
business. By using MYOB AccountEdge, you’ll soon see that there is more to managing
your business than just keeping an eye on the cash book. If you’re using a computerized
accounting system for the first time, you will find yourself organized, informed and in
control of your business with MYOB AccountEdge.

If you’ve never worked with debits and credits, don’t worry—MYOB AccountEdge handles
the ‘double-entry accounting system’ behind the scenes. It doesn’t hurt to have a rough
idea of what it’s all about though; your accountant can help you understand the basics if
you need assistance.

MYOB AccountEdge follows all the Macintosh conventions; so what you know from using
other applications will translate easily to MYOB AccountEdge. What you know about file
management, copying, cutting, pasting and entering information all apply to MYOB
AccountEdge.

In addition to this User Guide, we have provided you with a comprehensive on-line help
system– MYOB Help.
Use these tools and think of the way your business works. This will help you integrate
MYOB AccountEdge’s many features with the needs of your business.
MYOB AccountEdge’s flexibility allows you to customize the application to fit in with the
way you work. So it is important that you have a clear picture about your business and
what accounting information you want to capture.
For example, you might start thinking about your main areas of income and how your
customers pay you for goods and services. Is your business a sole proprietorship,
partnership or a corporation? As you read through this User Guide, take notes on the
MYOB AccountEdge features you think will be useful to your business.

9
Learning Tools
We, at MYOB, are committed to making MYOB AccountEdge a detailed description of each field in that window, and with
product that is easy to use. For that reason we have developed instructions on tasks you can perform in that window.
comprehensive learning tools that will teach you the fundamentals
of MYOB AccountEdge, support you as you set up your company’s Specific references The User Guide has direct references to
records and back you up in your everyday work with the product. specific topics in MYOB Help. Use the contents panel on the left side
of MYOB Help to find the main entry, and then click on the relevant
Using these tools, you should find the answers to all your routine
topic.
questions about how to use MYOB AccountEdge. If you have any
questions, we recommend that you explore these tools before you
call our Technical Support department. MYOB Help
MYOB Help is MYOB AccountEdge’s comprehensive online learning
The MYOB AccountEdge User Guide system. It can help you with every task you want to perform in
This User Guide is intended for use with MYOB AccountEdge MYOB AccountEdge). Depending upon your preferences and your
Version 3. access to the Internet, you can choose to view MYOB Help either on
the World Wide Web (at http://help.myob.com) or using help files
This User Guide has been designed to be used in conjunction with on your computer. If you have access to the Internet, you might
MYOB Help, MYOB AccountEdge’s comprehensive online help. (For want to use the Web-based version of MYOB Help, since it's
more information, see ‘MYOB Help’ on page 10.) updated continually and may provide extra information or learning
This User Guide contains the basic information you need to set up tools that aren't available in your computer-based version.
and run your MYOB AccountEdge system on a day to day basis. If you don’t have access to the Internet or you prefer to keep your
More extensive information is available in the MYOB Help system. phone line free for other activities, use the version of MYOB Help
Where necessary—for example, for detailed field help, advanced that was installed on your computer.
procedures, overviews and helpful tips—the User Guide will refer You can switch between the Web-based version and the version on
you to MYOB Help. your computer by marking or clearing the I Prefer to Use Help
From the Internet, Rather Than My Computer preference. (This
References to MYOB Help option appears in the System view of the Preferences window.)
The User Guide uses the following methods to refer you to the You can access MYOB Help by choosing MYOB AccountEdge Help
MYOB Help for more information. from the Help menu or by clicking Help from any window in MYOB
AccountEdge. You can also access MYOB Help by clicking the
Help button When completing a task in MYOB AccountEdge
icon in the top right corner of a command center window.
window, you can click Help in that window (see ‘Help buttons’ on
page 11). MYOB Help will be displayed, providing you with a

10 Chapter 1 Getting Started MYOB AccountEdge, Version 3 us

Help buttons l A PDF version of the MYOB AccountEdge User Guide as well as PDF
versions of other user documentation have been included in the
Help buttons make it easy to find answers to the questions you may
Manuals folder on your MYOB AccountEdge CD-ROM. These files
have while working with MYOB AccountEdge. These buttons
are also available in the Manuals folder in your MYOB
appear in the lower left corner of MYOB AccountEdge windows.
AccountEdge application folder on your hard disk. You can read
When you click Help, MYOB Help appears in your Web browser,
PDF files onscreen using Adobe Acrobat Reader or print them
displaying information about the window you're currently viewing.
using your printer. You can install Adobe Acrobat Reader from the
With a few clicks, you can learn more about the individual fields and
MYOB AccountEdge CD-ROM.
buttons in the window, step-by-step instructions for the tasks you
can perform in the window, and more.

Using MYOB Help

MYOB Help is designed to answer your questions about MYOB

AccountEdge and to help you make the most of your software.

To display MYOB Help, click Help in any window in MYOB

AccountEdge or choose AccountEdge Help from the Help menu.
When MYOB Help is displayed, click the Site Help icon in the
contents panel. A list of topics is displayed.

Click on a topic and read the information to become acquainted

with MYOB Help and use it more effectively.

Other Learning Tools

In addition to the User Guide and MYOB Help, the following
learning tools have also been provided.

l The Getting Started guide (for new users only). The Getting
Started guide details how to install and register your MYOB
AccountEdge software.
l Upgrade Instructions (for upgraders only). The Upgrade
Instructions detail how to install MYOB AccountEdge Version 3
and upgrade your company file.

User Guide Learning Tools 11

Where to Start
If you haven’t installed MYOB AccountEdge yet, refer to your n What’s New in this version—learn about the exciting new
Getting Started guide or Upgrade Instructions for installation features in this version of MYOB AccountEdge.
instructions before you read the rest of this chapter. n Exit MYOB AccountEdge—close MYOB AccountEdge.

Start up MYOB AccountEdge. To do this, locate and double-click

the MYOB AccountEdge icon in the folder that was created when Experiment With a Sample Company’s Data
you installed your software. If you used the defaults suggested Before you create a new company file, we recommend that you
during installation, this icon should be located in the MYOB experiment with the sample company’s data. We have provided a
AccountEdge folder. sample company file, called Widgets & Co., to allow you to
After a few moments, the Welcome to MYOB AccountEdge experiment freely with MYOB AccountEdge’s features without
window (similar to the one shown below) is displayed. damaging any of your own company’s fiscal information. This is an
excellent way to learn how to use MYOB AccountEdge, to see actual
accounting data that has already been entered into the MYOB
AccountEdge system, and familiarize yourself with the way MYOB
AccountEdge works.

To explore the Widgets company file

L Click Explore the sample company in the Welcome to MYOB

AccountEdge window. The command center window of the
sample company is displayed.

NOTE :Manually locating the sample company file If the sample

company file has been moved, a dialog box is displayed, requesting
This window is displayed every time you start MYOB AccountEdge. you to select the sample company file. Locate and open the file
named Widgets & Co.
In this window, you are presented with five options:
The command center window is always displayed on your
n Open your company file—use this option to open your
computer screen when MYOB AccountEdge is running. Notice that
company file once it has been created.
the name of the sample company, Widgets & Co. is displayed in the
n Create new company file—create a company file for your
top left corner of the window.
business.
n Explore the sample company—experiment with a sample
company’s data and learn how to use MYOB AccountEdge.
See ‘Experiment With a Sample Company’s Data’ on page 12.

12 Chapter 1 Getting Started MYOB AccountEdge, Version 3 us

Now that the Widgets & Co. company file is open, feel free to
browse around the MYOB AccountEdge system and explore the
accounting entries that have already been made for the sample
company.

Do not enter your own financial data Do not enter

C AUTION :
your own company’s fiscal information into the Widgets & Co.
company file. This company file is for learning purposes only.

User Guide Where to Start 13

Creating a New Company File
When you make entries in MYOB AccountEdge, that information is What is the last month of the fiscal year?
stored within one file in your computer, called a company file. (A
The fiscal year of many businesses ends in December, but if your
company file is a lot like a computerized filing cabinet, with all sorts
company has a fiscal year structured like the example above, you’ll
of information about your business stored in it.) This single file
need to select another month, such as September.
allows you to work with your company’s financial information
without spending a lot of time and effort on your computer’s file
What month will you be converting to using MYOB
storage system.
AccountEdge?
MYOB AccountEdge’s New Company File Assistant leads you
This is a very important selection. Your conversion month is the
through the process of creating a new company file, step-by-step.
month in which you plan to start using MYOB AccountEdge. This
If you are setting up business for the first time, we strongly month is particularly important in terms of your opening balances
recommend that you consult your accountant or a Certified that will be entered later when you set up your company file.
Consultant to help you set up MYOB AccountEdge correctly.

Using the New Company File Assistant

Before you begin
The New Company File Assistant leads you step-by-step through
Before you create your new company file using the New Company the process of creating a new company file. It consists of a series of
File Assistant, you will need to know the following information interactive windows containing options that help you reach a
about your company. particular goal. When you have finished making entries and
selections, the New Company File Assistant will create a new
What year is your current fiscal year? company file for your company.
The important thing to remember here is that the current fiscal year When using the New Company File Assistant, remember that in
is not necessarily the current calendar year. most instances, you can return to previous windows to review (and
sometimes change) the entries you have made. You can also quit
In MYOB AccountEdge, and according to the standard used by
the Assistant while you are in any window that contains a Cancel
most accountants, fiscal years take the name of the calendar year in
button. If you quit the Assistant before the company file is created,
which they end. For example, your fiscal year might run from
you will need to start the Assistant from the beginning again.
October 2001 to the end of September 2002. Since the end of the
fiscal year falls in 2002, the fiscal year is referred to as “fiscal year You can add or make changes to your initial selection later in the
2002.” Company Information window (go to the Setup menu and
choose Company Information).
Make sure you choose the correct fiscal year. If you are unsure,
check with your accountant.

14 Chapter 1 Getting Started MYOB AccountEdge, Version 3 us

 To create a new company file n Since it’s best to begin using a new accounting system at the
start of a month, you might want to consider selecting the
1 Click Create new company file in the Welcome to MYOB
next month as your conversion month. Whatever your choice,
AccountEdge window. The New Company File Assistant is
note that you can only choose a month in the fiscal year you
displayed.
entered earlier.
n Choose the preferred number of accounting periods. Most
companies need only twelve accounting periods—one period
for each month—to track their finances during the fiscal year.
Some companies, however, make a significant number of year-
end adjustments and prefer to use thirteen accounting
periods. The thirteenth period isn't an actual period of time; it's
merely a “placeholder” period that contains year-end
adjustments. If in doubt, choose thirteen periods.

6 Click Next. Confirm the accounting information you entered. If you

want to make any changes, click Back. Otherwise, click Next to
continue.
7 Specify how you would like to build your Accounts List and click
Next. If you selected:
2 Click Next. The Company Information window is displayed.
n I would like to start with one of the lists provided by MYOB
3 Enter your company’s name, address, phone number, fax number
AccountEdge, go to Step 8 to select your Accounts List.
and e-mail address. Your company's name and address can be
n I would like to import a list of accounts provided by my
printed on invoices, bills and statements.
accountant..., go to Step 9. After you have created the
4 Click Next. The Accounting Information window is displayed. company file, see ‘Importing Accounting Data’ on page 197
5 Enter the following information in this window: for more information about importing your Accounts List.
n Enter your company’s current fiscal year. Remember, this is not n I would like to build my own Accounts List..., go to Step 9.
necessarily the same as the calendar year. 8 Select your Accounts List. To do this, choose the industry
n Enter the last month of the fiscal year. classification of your business. Then select the type of business that
n Choose the month in which you plan to start using MYOB most closely matches your business. A suitable Accounts List is
AccountEdge from the Conversion Month pop-up menu. displayed. You'll be able to tailor this list to meet the exact needs of
CAUTION : Choose the conversion month carefully When this your business at a later time. Click Next.
window is displayed, the conversion month defaults to the 9 In the Company File window, check the default name and location
current month. If you accept this, you will not be able to enter of your company file. If you want to make any changes to the
transactions made before this month; you will need to enter them
as historical information.

User Guide Creating a New Company File 15

 location or the file name, click Change. Enter a new location and file
name in the dialog box that is displayed, and click OK.
10 Click Next. Your company file is created and the Conclusion
window is displayed. Choose one of the following options. Click:

n Setup Assistant, if you want to further customize your

company file. This is the recommended option, especially if
you need to build an Accounts List. At this point, the new
company file doesn't contain much information about your
company. Chapter 2 ‘Setting Up Your Company File’ on
page 19 explains how to set up your company file so it
contains all your company’s existing business information.
MYOB AccountEdge’s Easy Setup Assistant makes this a simple
process.
n Command Center if you want to begin entering transactions
right away. The command center window is displayed (see
‘The command center’ on page 17 for more information
about command centers).

16 Chapter 1 Getting Started MYOB AccountEdge, Version 3 us

Navigating in MYOB AccountEdge
The command center Each command also includes the following options:

There are eight command centers in MYOB AccountEdge. The l To Do List—You can use the To Do List to view the business tasks
following is an illustration of the Sales command center. that affect your company on a regular basis.
l Find Transactions—You can use Find Transactions to view
summary information about each of your company's accounts,
sales, purchases, cards, payroll and jobs.
l Reports—You can use Reports to view a list of reports available
in MYOB AccountEdge.
l Analysis—You can use Analysis to display windows that allow
you to analyze a number of key aspects of your business.

There are two ways of selecting an option. You can either:

l click an option to display the window relevant to the command

you are in
or
l click an option and hold down the mouse button. A menu
The command centers contain a row of icons in the top section of appears, listing the available options for all command centers
the window, which represent the eight divisions of MYOB (not just the command center you are in). Make a selection from
AccountEdge. Each time you view the central location for all this list.
command centers, one of the icons is highlighted, and a flowchart
of tasks is displayed below the row of icons.
Tools in MYOB AccountEdge
The highlighted icon is the current command center, and the Zoom arrows and search icons are used throughout MYOB
flowchart displayed below the row of icons contains the major tasks AccountEdge to help speed data entry and simplify the ways you
associated with that command center. access windows in MYOB AccountEdge. They are described below.
For example, when the Sales icon is highlighted, tasks such as Enter Zoom arrows
Sales and Print Invoices–typical tasks you’d complete in relation to
Sales–are displayed in the flowchart. Zoom arrows, displayed next to various fields throughout MYOB
AccountEdge, allow you to review or “zoom” to more detailed
information about a specific topic, such as a transaction or

User Guide Navigating in MYOB AccountEdge 17

customer record. This detailed information is usually located in the
window in which the topic was originally entered.

A white zoom arrow indicates that you can zoom to more

detailed information about a transaction and make changes to or
delete the transaction, if you want.

A gray zoom arrow allows you to zoom to more detailed

information about a transaction but the information is display only.
If you want to change the information, you can reverse the
transaction and re-enter it (see ‘Reversing a Transaction’ on
page 115). Alternatively, you can change your security preference
selection to make all transactions changeable (see ‘Setting up
Preferences’ on page 21).

Search icons

Search icons, displayed next to various fields throughout MYOB

AccountEdge, allow you to open selection lists containing records
you’ve previously entered into the MYOB AccountEdge system,
such as customers and shipping methods. From the selection list,
you can then select a record to appear in the field.

18 Chapter 1 Getting Started MYOB AccountEdge, Version 3 us

 Chapter 2
Setting Up The more accounting information you have when you set up MYOB AccountEdge, the
easier your transition will be. Although we would all like to have a complete set of
balances on hand when setting up MYOB AccountEdge, the fact is that only a few

Your businesses have all the information at their disposal. Ideally you should have the
following information:

Company
- a list of your accounts with their balances,
- a detailed list of your receivables,

- a detailed list of your payables,

File - a bank reconciliation, showing your bank balance, your bank statement balance,
uncleared checks and deposits not yet credited as of your MYOB AccountEdge
conversion date, and
- a list of the items you sell and their selling price.

The absolute minimum information you need to set up your file is a bank reconciliation as
described above.
Many businesses setting up MYOB AccountEdge for the first time find they fall somewhere
in between the two extremes. They can provide a bank reconciliation, a list of receivables
and payables and an inventory valuation. This is usually enough information to get
started, as the remaining balances can be entered later.
This chapter is about setting up your business in MYOB AccountEdge. It shows you how to
set up your preferences, accounts, sales, purchases, items, payroll, tax codes and jobs. You
don’t need to set up all the features MYOB AccountEdge offers at once; if you prefer, you
can just set up the minimum for your business and set up the other areas later.

Think carefully about what accounting transactions you want MYOB AccountEdge to
track. For example, if you sell books, you may want separate income and cost of sales
accounts for your fiction and non-fiction book sales. If you run a gas station you may want
to track gas sales separately from oil and consumables. Keep it simple, as you can always
add accounts to MYOB AccountEdge to track additional items and transactions.

19
Overview
Before you start entering transactions in MYOB AccountEdge, you Or start the Easy Setup Assistant by choosing Easy Setup Assistant
need to set up your company file. Setting up involves tasks such as from the Setup menu. The following window is displayed.
customizing the way MYOB AccountEdge operates, setting default
sales and purchase details, recording details of your customers and
vendors, and so on.
To help you to quickly and efficiently set up your company file,
MYOB AccountEdge includes the Easy Setup Assistant, which guides
you through the necessary steps.

The following checklist outlines what you should set up before

entering transactions in MYOB AccountEdge. You can complete
most of these tasks using the Easy Setup Assistant.

Step Set up Refer to...

1 Set up preferences page 21

2 Set up accounts page 22

3 Set up sales details page 25

4 Set up purchase details page 28

5 Set up payroll details page 31

6 Set up tax codes page 35

7 Set up items page 37

8 Set up bank accounts page 41

9 Set up jobs and categories (optional) page 42

Once you complete the initial setup using the Easy Setup Assistant,
you will be ready to start using your company file for your business.
If you need to make changes to your setup or add to your records,
you can do so directly from the command centers.

If you are in the final step of the New Company File Assistant, click
Setup Assistant to start the Easy Setup Assistant.

20 Chapter 2 Setting Up Your Company File MYOB AccountEdge, Version 3 us

Setting up Preferences
MYOB AccountEdge has numerous preferences that you can set to date as a transaction date—for example, if you mistakenly enter a
customize the way the application operates. The Easy Setup date two months from now.
Assistant will guide you through setting up some of them. l Prompt for Backup when closing. Set this preference if you want
You can set the rest of the preferences or make changes to your to be reminded to back up your company file when you close it.
initial selection later in the Preferences window (go to the Setup l Select and Display Account Name, Not Account Number. If you
menu and choose Preferences). For more information about find it easier to find your accounts by their names rather than by
preferences, in MYOB Help, choose Setup> Personalizing your their numbers, you can set up MYOB AccountEdge so that you
Company, click the topic Customizing your MYOB AccountEdge
can enter accounts and sort your account search lists
system and then click Customizing work preferences.
alphabetically by using the name of the accounts rather than the
Click Customize in the Easy Setup Assistant window. numbers.
The Customize Easy Setup Assistant is displayed. Each l I Prefer to Use Help From the Internet, Rather Than My Computer.
window contains a list of preferences that you can set by If you have access to the Internet, you can view the latest online
marking the checkbox next to the preference. Click help for MYOB AccountEdge on the World Wide Web, instead of
Next to move through the windows; click Close when using help files on your computer.
you have finished.
l Warn if Customer has an Outstanding Credit Before Applying a
Payment. You can set this preference if you'd like to be notified
Preferences in MYOB AccountEdge
that a customer has an existing customer credit whenever you
The following is a list of a few preferences available in MYOB apply one of the customer's payments to a sale.
AccountEdge. l Transactions CAN’T be Changed; They Must be Reversed. Set this
preference if you want to keep a strict audit trail. Your
l Use Easy-Fill When Selecting From a List. You can use the Easy-Fill
transactions will be considered unchangeable, and you won’t be
feature to quickly enter account names, item names or numbers
able to make changes to or remove transactions you’ve recorded.
and card names that you enter frequently. Easy-Fill will
Instead, you’ll need to reverse a transaction to completely remove
“recognize” the entry you're making and automatically fill in the
the effects of that transaction on your records.
rest of the entry for you.
l Use Expandable Data Entry Fields in Windows. If you enter long
descriptions on invoices and bills, you can view those
descriptions in their entirety whenever the Description field is
active.
l Warn Before Recording Post-Dated Transactions. Set this
preference if you want to be notified whenever you enter a future

User Guide Setting up Preferences 21

Setting up Accounts
The second step to setting up your company file is to set up your To create a new account
accounts. This includes:
1 Click New. The Account Information window is displayed.
l Reviewing your Accounts List
l Entering your account opening balances

The Easy Setup Assistant will help you complete these

tasks quickly. Click Accounts in the Easy Setup Assistant
window. The Accounts Easy Setup Assistant is displayed.

Review your Accounts List

In the Accounts Easy Setup Assistant, click Next to go to the
Accounts List window. This window displays the list of accounts
you selected when you created your company file using the New
Company File Assistant.
There are eight types of accounts in the Accounts List—Assets, 2 Specify whether the account is a Header account, Detail account or
Liabilities, Equity, Income, Expenses, Cost of Sales, Other Income Detail Checking or Credit Card account.
and Other Expenses. If you are creating your Accounts List from scratch, it may be easier
All accounts are assigned a level, which indicates their location in to enter all your Header accounts before entering your Detail
your Accounts List hierarchy. The eight account types are the only accounts.
accounts that can be Level 1. Other accounts can be assigned Levels
n Header accounts are non-postable accounts that contain Detail
2, 3 or 4.
accounts. They serve no accounting purpose except to group
If you haven't already reviewed your existing accounts, do so now. and total Detail accounts for reporting clarity. Header accounts
(You can review an account’s details by clicking the zoom arrow are displayed in bold type in your Accounts List. You are not
next to the account.) You may want to enlist the help of your
required to use Header accounts.
accountant or a MYOB Certified Consultant. Since your accounts
n Detail accounts are postable accounts that add up to a
are the foundation for the rest of your accounting records, it's
particular Header account. You can create Detail accounts at
important that they are complete and are capable of meeting your
individual company's needs. levels 2, 3 or 4.
n Detail Checking account. This option is available if you are
creating a Detail Asset account. Select this option if you intend
to assign transactions to the account you are creating and you
want to write checks using the funds in this account—for

22 Chapter 2 Setting Up Your Company File MYOB AccountEdge, Version 3 us

 example, your bank checking account, Petty Cash account Enter your account opening balances
and Cash Drawer account. These accounts will be displayed in
Unless you're just starting a new business, most of your accounts
the accounts selection list in transaction windows.
probably already have balances—for example, you've made sales,
n Detail Credit Card account. This option is available if you are paid bills, deposited money in your business' checking account and
creating a Detail Liability account. Select this option if you conducted a variety of other business activities that affect your
intend to assign credit card transactions to the account. accounts' balances. In this step, you'll enter those balances.
Accounts with credit card privileges will be displayed in
NOTE : Don’t enter inventory opening balances now If you are
selection lists in transaction windows.
using MYOB AccountEdge to track your item quantities and values,
3 Enter information about the account, such as an account number don’t enter the opening balance of your inventory accounts at this
and account name. Enter a currency if you are using the point. This is done later when you set up your inventory (see
multicurrency feature. page 37).

NOTE :Account opening balances When creating or editing an To properly assign opening balances to accounts, you need to enter
account, note that you are not required to enter account opening the balance of each of your accounts as of the first day of your
balances. This is done later in the setup. conversion month—the month you began using MYOB
AccountEdge to track your business.
4 Click OK when you have finished. The account you created will now
appear in your Accounts List. l If your conversion month is the first month of your fiscal year (for
example, if your fiscal year runs from January to December, and
In this step of the Accounts Easy Setup Assistant, you can also edit
your conversion month is January), enter the opening balances of
existing accounts' names and numbers and delete accounts that
your asset, liability and equity accounts only. (The opening
you don't plan to use. You can also import accounts if you've been
using another computerized accounting system. For detailed balances of all your income, cost of sales and expense accounts
instructions on how to edit, delete and import accounts, click Help should remain zero.)
in this window. Also see “Changing a Record” on page 105, “To l If your conversion month is not the first month of your fiscal year
delete an account” on page 106, and “Importing Accounting Data” (for example, if your fiscal year runs from January to December,
on page 197. and your conversion month is August), enter the opening
balances of all your accounts.
To change the level of an account If you want to change the level
of an account in your Accounts List in order to change its hierarchy,
you can do so later from the Accounts List window (go to the
Accounts command center and click Accounts List). For
instructions on changing account levels, in MYOB Help, choose
Accounts> Maintaining Accounts > Changing, Removing or
Inactivating Accounts and click the topic To change an account’s level.
When you have finished reviewing your Accounts List, click Next to
enter your opening balances. See the following section for
instructions.

User Guide Setting up Accounts 23

 To enter opening balances

1 Enter the opening balance for each account in the Opening You have completed setting up your accounts. If you want to make
Balance column. changes to or delete any accounts later, you can do so from the
N OTE : You should enter opening balances as positive numbers. Accounts command center. See the Working with Lists chapter on
Don’t, for example, enter your liability accounts’ balances as page 101.
negative numbers. MYOB AccountEdge knows whether your To continue with setting up your company file, see “Setting up Sales
accounts usually have positive or negative balances. Enter negative
details” on page 25.
amounts only if accounts truly have negative balances; as a rule
these will be accounts used to record accumulated depreciation.

2 Check the Amount left to be allocated field at the bottom of the

window.

n If this field displays $0.00, the total of the opening balances

you assigned to your asset accounts equals the total opening
balances of your liability and equity accounts.
n If this field displays an amount other than $0.00, check your
opening balances again. This value indicates that either your
opening balances are incomplete or incorrect. The amount
that appeared in the Amount left to be allocated field will be
assigned to a special equity account called Historical
Balancing. If you cannot find the reason why the accounts
don’t balance, click Help for more information.

3 Once you have entered your account opening balances, click Next
and then close the Accounts Easy Setup Assistant.

24 Chapter 2 Setting Up Your Company File MYOB AccountEdge, Version 3 us

Setting up Sales details
Most businesses rely upon sales of goods or services to generate Select default tax codes
revenue for them. In the Sales Easy Setup Assistant, you can set up
If you collect tax on sales, select the tax code that you use most
information about your customers and other information related to
sales. often. Select whether freight charges are taxable for most of your
customers. Your selections here will appear as the default in the
Before you begin using the Sales Easy Setup Assistant, you may find Selling Details view of the new customer cards you create.
it helpful to gather together a list of your customers, along with
their addresses, phone numbers and so on. We also recommend When you have finished, click Next.
that you gather a list of all the sales you've made to customers that
haven't yet been fully paid off. Select a default payment method and credit
Click Sales in the Easy Setup Assistant window. Work terms
your way through the Sales Easy Setup Assistant,
Indicate the credit terms you generally extend to your customers
entering the required information in the appropriate
and the default payment method. MYOB AccountEdge will use
windows. Click Help in any window for detailed
these credit terms as the default when you create new customer
information about that window.
cards, but you can change these terms any time. Click Help for
more information.
Set up a default layout
When you have finished, click Next.
In the Layout window, choose the sale layout that you expect to use
most often. This layout will be assigned to all new customer cards
but you can change the sale layout for your customers at any time.
Click Next.

Set up selling details

Use this window to set default entries that will speed up the task of
creating new customer records. Remember that you can change
these selections for any of your customers at any time. For more
information on using this window, click Help.

When you have finished, click Next.

User Guide Setting up Sales details 25

 Set up linked accounts for sales to a record’ on page 105). Click Help for detailed help on creating
a card.
Specify the default accounts that will be used to track your
customer receipts and undeposited funds. The accounts you select
must have checking privileges.
If you want to change an account that MYOB AccountEdge has
selected for you, click the search icon next to that account and A
B
select an alternate account from the list that is displayed.

You can change your linked accounts later in the Sales Linked
Accounts window (go to the Setup menu, choose Linked
Accounts and then Sales Accounts). C

When you have finished, click Next.

Create customer cards A Selling information The selections you make here will be used by
default on quotes, orders and invoices that you
In this step, you'll enter information about each of your customers. create for this customer. You can override these
MYOB AccountEdge requires that you create a record for each selections when recording the sale.
customer, but you can choose to enter as little or as much
B Tax information The customer’s credit limit and tax information are
information as you like in these records. entered here.
1 Click New. The Card Information window is displayed. C Credit terms The credit terms you entered earlier appear here
by default. You can override them here for this
2 Enter details about your customer. You don’t have to complete all customer.
the tabs in this window at this time. You can fill in the Profile and
Selling Details (see graphic below) now and complete the others
later through the Card File command center (see ‘To make changes

26 Chapter 2 Setting Up Your Company File MYOB AccountEdge, Version 3 us

3 Click OK when you have finished, to return to the Sales Easy Setup
Assistant. The card you created will now appear in the Customer
List.
4 Repeat Step 1 - Step 3 for each customer card you want to create.

In this window of the Sales Easy Setup Assistant, you can also make
changes to or delete existing cards. If you've kept customer
information in another software application, you can import that
information into MYOB AccountEdge. For detailed instructions on
how to edit, delete and import customer cards, click Help in this
window. See also “Importing Accounting Data” on page 197 for
information about importing cards.
If you want to add customer cards, make changes to or delete
existing cards later, you can do so from the Card File command
center (see the Working with Lists chapter on page 101).

When you have finished, click Next.

Enter your historical sales

In MYOB AccountEdge, historical sales are those sales you've made
that haven't been paid in full, as of the first day of your conversion
month.
Click Add Sale to enter these historical transactions and the
outstanding amounts. For instructions on entering historical sales
for your customers, click Help in the Historical Sale window.

When you have finished, click Next.

Click Close to close the Sales Easy Setup Assistant. See the following
section to set up your purchase details.

User Guide Setting up Sales details 27

Setting up Purchase details
In the Purchases Easy Setup Assistant, you can set up your vendor When you have finished, click Next.
information and other information related to purchases. You'll find
these steps very similar to those you completed for your customers
Set up default credit terms
and sales.
Enter the credit terms that your vendors generally extend to you.
Click Purchases in the Easy Setup Assistant window.
MYOB AccountEdge will use these credit terms as the default when
Work your way through the Purchases Easy Setup
you create new vendor cards, but you can change these terms any
Assistant, entering the required information in the
appropriate windows. Click Help in any window for time. Click Help for more information.
detailed information about that window. When you have finished, click Next.

Set up a default layout Set up the linked account for purchases

In the Layout window, choose the purchase layout that you expect Specify the default account that will be used to pay bills from your
to use most often. This layout will be assigned to all new vendor vendors. If you want to change the account that MYOB
cards but you can change the purchase layout for your vendor at AccountEdge has selected for you, click the search icon next to the
any time. Click Next. account and select an alternate account from the list.
You can change your linked accounts later in the Accounts Payable
Set up default buying details Linked Accounts window (go to the Setup menu, choose Linked
Use this window to set default entries that will speed up the task of Accounts and then Purchases Accounts).
creating new vendor records. Remember that you can change these When you have finished, click Next.
selections for any of your vendors at any time. For more information
on using this window, click Help.

When you have finished, click Next.

Select default tax codes

If you are charged tax on purchases, select the tax code that is used
most often by your vendors in this window. Specify whether freight
charges from most of your vendors are taxable. Your selections here
will appear as the defaults in the Buying Details view of new vendor
cards you create.

28 Chapter 2 Setting Up Your Company File MYOB AccountEdge, Version 3 us

 Create vendor cards B Tax information Your credit limit with this vendor and the vendor’s
tax information are entered here.
In this step, you'll enter information about each of your vendors.
If you wish to report payments to vendors for
MYOB AccountEdge requires that you create a record for each inclusion on a 1099 statement, select how you
vendor, but you can choose to enter as little or as much information wish to report the payments by entering a
as you like in these records. category in the Report Payments on 1099 as
field. For more information about tracking vendor
1 Click New. The Card Information window is displayed. payments on a 1099 statement, in MYOB Help,
choose Card File, click the topic Cards Overview
2 Enter details about your vendor. You don’t have to complete all the and then Buying Details view (vendor cards).
tabs in this window at this time. You can fill in the Profile and If the Report Payments on 1099 as field is not
Buying Details (see graphic below) now and complete the others available, this means that you have not set up
payroll yet (see ‘Setting up Payroll details’ on
later through the Card File command center (see ‘To make changes
page 31). After you have set up payroll, you can
to a record’ on page 105). Click Help for detailed help on creating return to this window to set up the vendor card to
a card. track payments on 1099 statements.

C Credit terms The credit terms you entered earlier appear here
by default. You can override them here for this
vendor.

A 3 Click OK when you have finished, to return to the Purchases Easy

B
Setup Assistant. The card you created will now appear in the vendor
List.
4 Repeat Step 1 - Step 3 for each vendor card you want to create.
C
In this window of the Purchases Easy Setup Assistant, you can also
edit or delete existing cards. If you've kept vendor information in a
spreadsheet or another software application, you can import that
information into MYOB AccountEdge. For detailed instructions on
A Buying information The selections you make here will be used by
how to import, edit, and delete vendor cards, click Help in this
default on quotes, orders and bills that you create
for this vendor. You can override these selections window. See also “Importing Accounting Data” on page 197 for
when recording the purchase. more information on importing cards.

If you want to add vendor cards, make changes to or delete existing

cards later, you can do so from the Card File command center (see
the Working with Lists chapter on page 101).
When you have finished creating your vendor list, click Next.

User Guide Setting up Purchase details 29

Enter your historical purchases
In MYOB AccountEdge, historical purchases are those purchases
you've made that haven’t been paid in full, as of the first day of your
conversion month.
Click Add Purchase to enter these historical transactions and the
amount you owe your vendors. For detailed instructions on how to
enter historical purchases for your vendors, click Help in the
Historical Purchase window.

When you have finished, click Next.

Click Close to close the Purchases Easy Setup Assistant.

If you use the Payroll feature in MYOB AccountEdge, see the

following section to set up your payroll details.

30 Chapter 2 Setting Up Your Company File MYOB AccountEdge, Version 3 us

Setting up Payroll details
This section applies to you only if you will be using the Payroll Enter and confirm the payroll year
feature in MYOB AccountEdge.
Enter and confirm the current payroll year and click Next.
You'll probably find that it takes you longer to set up your payroll
information than it did to set up your information in other areas of Set up general payroll information
MYOB AccountEdge, particularly if you employ several people. Your
Specify the number of hours in your company’s typical work week
effort here will be rewarded on payday, though; if you've been
(not the hours in a pay period). The number you enter here will be
calculating paychecks manually, you'll find that these checks are
used as the default to calculate wages and payroll payable amounts
much quicker and easier to calculate in MYOB AccountEdge.
(such as tax) on paychecks. You can override this on the paycheck
In the Payroll Easy Setup Assistant, you'll load your tax tables, review as necessary.
your payroll categories and linked accounts, and enter details about
Enter your Federal Tax ID number.
your employees, their tax status and pay history.
Enter your Federal Unemployment Tax Rate as a percentage.
Click Payroll in the Easy Setup Assistant window. Work
your way through the Payroll Easy Setup Assistant, Select the ZIP code of the state to which you pay State
entering the required information in the appropriate Unemployment Tax. Then enter your State Tax ID number and your
windows. Click Help in any window for detailed SUI Rate as a percentage.
information about that step.
Click Next when you have finished.
You can make changes to your initial selection later in the General
Payroll Information window (go to the Setup menu and choose
General Payroll Information).
Set up your default linked accounts
In the Linked Accounts window, review the linked account
selections MYOB AccountEdge has made for you.
Load tax tables
You must load the payroll tax tables into the application when you l Account for Writing Paychecks is the checking account you
first set up Payroll. The tax tables contain the most recent payroll tax would usually use to write your paychecks.
information and are provided with your software. l Account for Employer Expenses is the default account that is
charged for your employer expenses.
Click Load Tax Tables. Once the tax tables are loaded, click Next.
l Account for Wages Paid is the default account that is charged
for the gross wages and salaries paid to employees. You can
change this account for each employee in the Employee Payroll
Information window.

User Guide Setting up Payroll details 31

l Account for Deductions and Expenses is the default account to category is displayed. You can make changes to the information as
which the amounts withheld from the employee’s paycheck are required. For a detailed description of each field in this window,
allocated. click Help.

To change a linked account, click the search icon next to it and Creating a new payroll category You can create a new payroll
select another account from the Accounts List. You can change the category by selecting the category type in the Payroll Category
linked accounts for individual payroll categories through a payroll List window and clicking New. The Information window for the
category’s Information window. selected category is displayed. For information on creating this
payroll category, click Help. Also see ‘Creating Payroll Categories’
When you have finished, click Next to continue.
on page 120.
When you have finished, click Next.
Review your payroll categories
A paycheck normally consists of five elements: wages, deductions, Editing a payroll category To edit a payroll category, highlight the
accruals, taxes and employer expenses. Collectively, these elements category you wish to change and click the edit button for that
are referred to as payroll categories. Before you begin writing category. For example, to edit a wage category, click Edit Wage.
paychecks to employees, you'll create the payroll categories that are
Deleting a payroll category To delete a payroll category, highlight
used by your business and are required by law, and then you'll
the category you wish to remove and click the delete button for that
assign each employee the payroll categories that apply to him or
category. For example, to delete a wage category, click Delete
her. Then, when you use the Pay Employees window to pay an
Wage.
employee, the payroll categories you've assigned to the employee
will automatically determine the various amounts that are
associated with the paycheck. Create employee cards
MYOB AccountEdge provides you with a list of payroll categories In the Employee Cards window, click New. The Card Information
that you can assign to your employees later in the setup process. window is displayed. Enter your employee details in the relevant
Select the category type, and then review the list to see whether all tabs just as you did with customer and vendor cards. You can click
the wages, deductions, accruals and expenses your company uses Help in each tab for help on creating an employee card.
are included. You can delete a payroll category you don’t need by
When completing the Payroll Details tab of the Card Information
highlighting it and clicking the Delete <Payroll Category> button.
window, see ‘Entering payroll information’ below for instructions.
You cannot delete or create a tax type If you select Taxes,
N OTE :
you cannot delete an existing tax type or create a new tax; you can,
however, view the tax tables and change the linked payables
Entering payroll information
account. It is very important that you set up an employee's payroll
information completely before you begin writing paychecks for that
Review the payroll category details It’s a good idea to also review
the details for each wage, deduction, accrual and expense to make employee.
sure it matches the way you do business. To do this, click the zoom An employee’s payroll information is set up in the Payroll Details
arrow next to each category. The Information window for that tab of the Card Information window and in the Employee Payroll

32 Chapter 2 Setting Up Your Company File MYOB AccountEdge, Version 3 us

 Information window. In the Payroll Details tab, you are required
to choose the Residence Code and Work Code that apply to the
employee. In the Employee Payroll Information window
(accessed by clicking Info in the Payroll Details tab), you are
A
required to enter the employee’s pay details such as the pay basis, B
salary and pay frequency, and to assign payroll categories to the C
D
employee. E
F
NOTE :It is very important that you enter payroll information
G
correctly. If you don’t, your employees’ pay and tax amounts will
H
not be calculated correctly.

To enter payroll information

1 Click the Payroll Details tab in the Card Information window. The
Payroll Details view is displayed. A Wages Expense Enter the Wages Expense account. The linked
Account account you selected earlier in the setup appears
2 Enter the Residence Code and Work Code that applies to the here by default.
employee. B Pay Basis Enter the Pay Basis for the employee. Pay Basis
(Salary or Hourly) determines whether an
3 Click Info. The Employee Payroll Information window is employee is paid on the basis of number of hours
displayed. The information you enter in this window is used to worked or a fixed salary, although a salaried
determine wages, deductions, accruals, employer expenses and tax employee may be given “overtime” or their wages
on an hourly basis. In this case, MYOB
amounts for each employee, and helps calculate each pay period's
AccountEdge will calculate the equivalent hourly
paycheck amounts. rate by the following formula:
Base Salary÷ (Hours in working week x 52).

C Hourly/Annual Base Enter the employee’s Base Pay—annual or hourly,

Pay depending on their pay basis.

D Pay Frequency Enter the employee’s pay frequency.

E Social Security Enter the employee’s Social Security Number.

Number

F Birth Date Enter the employee’s date of birth. MYOB

AccountEdge calculates the employee’s age and
displays it below this field.

User Guide Setting up Payroll details 33

 G Tax information Enter the appropriate tax information for this
8 After you have finished creating the employee card, close the Card
employee in these fields. If the employee is subject Information window and return to the Payroll Easy Setup Assistant.
to state tax, be sure to enter both state and federal The card you created will now appear in the Employee List.
tax information.
Continue creating your employee cards. As with customer and
H Payroll Categories Select all the payroll categories that apply to this
employee by clicking in the Select column. Your vendor cards, you can also edit and delete existing employee cards;
selections in this step are very important, because if you've kept employee information in a spreadsheet or another
they are the key components in determining the
software application, you can import that information into MYOB
employee’s net pay amount. Be sure you carefully
select all the payroll categories that apply to this AccountEdge.
employee.
CAUTION: If you make changes to a payroll For detailed instructions on how to import, edit and delete
category’s details from this window (by clicking employee cards, click Help. See also “Importing Accounting Data”
the zoom arrow next to a payroll category), these on page 197 for more information on importing cards.
changes will affect ALL employees this category
has been assigned to. If you want to add employee cards or make changes to or delete
existing cards later, you can do so from the Card File command
4 After you have entered the employee’s pay details and assigned center (see the Working with Lists chapter on page 101).
payroll categories, click History in the Employee Payroll
Click Close to close the Payroll Easy Setup Assistant. Then close the
Information window.
Easy Setup Assistant.
The Pay History window is displayed. The Pay History window
allows you to view individual employees' wage, deduction, accrual See the following section to set up your tax codes.
and tax amounts, as well as the employer expenses you've incurred
for individual employees for the current and previous month(s) of
the current payroll year.

5 If you're starting to use Payroll after the first pay period of the
payroll year, enter the employee's pay history for the current payroll
year up to the current date. You can enter pay history for specific
months or quarters.
C AUTION : Avoid editing pay history figures MYOB AccountEdge
uses the figures displayed in the Pay History window on some
reports. If you change a card's pay history later in this window, keep
in mind that the change you make will be displayed on the reports
but may not accurately reflect your actual totals.

6 Click OK when you have finished entering the employee’s pay

history. The Employee Payroll Information window is displayed.

7 Close the Employee Payroll Information window.

34 Chapter 2 Setting Up Your Company File MYOB AccountEdge, Version 3 us

 Setting up Tax Codes 3 Complete the fields in this window. Click Help if you require
detailed field help.

If your business makes sales and purchases, you’re probably very

familiar with the concept of including tax on the transactions you
conduct with your customers and vendors, and you know how
important it is to track these amounts carefully. A

To help you keep on top of taxes, MYOB AccountEdge uses tax

codes. Each tax code represents a particular tax rate, which is used B
to calculate tax on your transactions. You’ll set up taxes using the
Tax Information window. Whenever you enter a sale or purchase
that should be taxed, you’ll mark the Tx column and choose a tax
code from the Tax selection list; the amount of the line item will be
multiplied by the tax code’s tax rate. A Enter a three-digit code, description, type and rate. If you selected
Consolidated as the Tax Type, see page 36.
You can assign tax codes to customers and vendors in their cards.
B If the Tax Type is Sales Tax, specify the linked account for tax
These tax codes will appear by default in invoices and purchase collected. If the Tax Type is Import Duty, specify the linked account
orders that you create for these customers or vendors, saving you for accrued duty.
the trouble of selecting a tax code each time. Specify a linked card if applicable.

MYOB AccountEdge provides you with an extensive list of tax codes

that can be used in a variety of situations. In addition to this, you
can also create all the tax codes your business needs.

To create a tax code

1 Go to the Lists menu and choose Tax Codes. A list of all the tax
codes that MYOB AccountEdge has already set up for you is
displayed.
2 Click New. The Tax Code Information window is displayed.

User Guide Setting up Payroll details 35

Consolidated tax codes

MYOB AccountEdge gives you the flexibility of creating

consolidated tax codes by combining two or more tax codes. For
example, the CST tax code (with a 8.25% tax rate) is composed of
CTY (City Sales Tax) at 4%, STE (State Sales Tax) at 4% and MET
(Metropolitan Tax) at 0.25%.

You can only consolidate tax codes that are in your Tax
N OTE :

Code List Therefore, make sure you first create the tax codes you
want to consolidate.

36 Chapter 2 Setting Up Your Company File MYOB AccountEdge, Version 3 us

 Setting up Items
In MYOB AccountEdge terms, the word item is used to describe: number, item name, vendor item number, auto-build information
and history information.
l A physical unit that your company may buy, sell and/or store.
l A service that your company wants to include on item invoices. 5 Specify whether you buy, sell and/or inventory this item by
marking the relevant checkbox(es). The following table should give
For example, you could create items such as ‘Shipping’,
you an idea of which checkboxes to mark.
‘Handling’, and so on.
C AUTION :Make your selections carefully If you mark the I
In accounting terms, your company’s items should usually be Inventory This Item checkbox for an item, use the item in a
considered current assets. transaction, and then try to clear this checkbox, you will not be
There are three steps to setting up items: allowed to do so.

l Creating the items

Mark For these items
l Entering open stock on hand quantities
I Buy this Item Non-inventory items that you want to order in the
l Entering the opening value of your stock items Purchases window.

I Buy this Item You’re a broker or middle man moving goods or services.
To create an item I Sell this Item If you allocate a purchase of this item to a job, you can then
create a reimbursement invoice using the selling
1 Go to the Inventory command center and click Items List. The information you enter here.
Items List window is displayed.
I Buy this Item This is a normal inventoried item.
2 Click New. The Item Information window is displayed. I Sell this Item
I Inventory this
3 Enter a unique number in the Item Number field. You can use up to Item
thirty numbers, letters and symbols.
I Sell this Item This is a normal service item, useful for salespeople who bill
their commissions, or those who provide a service and bill
The backslash character (\) serves a special purpose in MYOB
for their time.
AccountEdge—any item number that begins with a backslash can
be included on sales and purchase forms, but it won’t appear on I Sell this Item Finished goods, if you manufacture something using other
I Inventory this items that you inventory.
printed forms.
Item
4 Enter the name of the new item in the Name field using up to thirty I Buy this Item Raw material that you inventory and use to build other
characters. I Inventory this items.
Item
Copy From button Click Copy From to copy another item’s
H INT :
information to this item record. From the displayed list, choose the I Inventory this Intermediate goods in the process. Parts used to
item whose information you want to copy. All information for that Item manufacture finished goods.
item will be copied to the current item record except the item

User Guide Setting up Items 37

6 When you marked the checkboxes in the previous step, you may 7 Click the Buying Details tab. The Buying Details view of the Item
have noticed the fields that appeared next to these checkboxes. Information window is displayed.
Enter the appropriate account numbers (or names) in these fields.
These will change according to the individual checkbox and
combination of checkboxes you mark.
A
n In the Cost of Sales Account field, enter the account you want B
C
to use to track the costs associated with selling this item.
n In the Income Account for Tracking Sales field, enter the E
F
account you want to use to track the income you receive from G
the sale of this item. H
n In the Asset Account for Item Inventory field, enter the
account you want to use to track the total value of this item.
n In the Expense Account for Tracking Costs field, enter the
account you want to use to track costs associated with D

purchasing this non-inventoried item.

A Last Purchase Price The last purchase price you paid for the item
(excluding tax) is displayed in this field.

B Buying Unit of Enter the unit of measure (such as ‘gross,’ or ‘case’)

Measure by which you purchase the item. The buying unit is
printed on the item purchase order. If, for
example, you buy eggs by the carton (a dozen),
when you order five units in a purchase, you’re
ordering five cartons. It is very important that you
set up your buying units correctly.

C Number of Items Enter the number of items that comprise a single

per Buying Unit buying unit. This is the number MYOB
AccountEdge adds to your on-hand inventory for
every buying unit. For example, if you buy eggs by
the carton (a dozen) and want to track their
purchase individually, enter twelve as the number
of items per buying unit. When you order one
carton, MYOB AccountEdge updates your item
inventory by twelve items.
If you leave this field blank, MYOB AccountEdge
defaults to one.

D I Pay Sales Tax Mark this checkbox if you pay sales tax when you
purchase this item.

38 Chapter 2 Setting Up Your Company File MYOB AccountEdge, Version 3 us

 E Minimum Level for Enter the minimum level of this item you want to C Number of Items Enter the number of items that comprise a single
Restocking Alert keep in stock. When you reach this level, a reorder per Selling Unit unit in this field. This is the number MYOB
reminder appears in the To Do List. AccountEdge subtracts from your on-hand
inventory for every selling unit. For example, if you
F Primary Vendor for Enter the vendor from whom you usually purchase sell by the six-pack, enter six as the number of
Reorders this item. items per selling unit. When you sell one six-pack,
G Vendor Item Enter the vendor’s number for the item. MYOB AccountEdge reduces your item inventory
Number by six items.
If you leave this field blank, MYOB AccountEdge
H Default Reorder Enter a re-order level quantity for the item here. If defaults to one.
Quantity you have set a minimum level for restocking alert,
you can create an order for the items easily, using D Pricing Levels You can set pricing levels for different kinds of
the Stock Alert tab in the To Do List. The default customers. See “Creating custom price levels” on
quantity showing on the order will be taken from page 97.
this field.
E I Collect Sales Tax Mark this checkbox if you collect sales tax when
you sell this item.
8 Click the Selling Details tab. The Selling Details view of the Item
Information window is displayed. 9 Click the Items Details tab.
You can enter additional information about the item in this window.
For information about adding a picture, see ‘Linking a picture to a
A
B record’ on page 202. For information about creating custom lists
C and fields, see ‘Creating custom fields’ on page 98 and ‘Creating
custom lists’ on page 99.

A Base Selling Price Enter the retail price of one selling unit in this field.

B Selling Unit of Enter the selling unit of the item in this field, such
Measure as ‘each’, ‘gross’, or ‘case’.You can enter up to five
characters. The selling unit is printed on the item
invoice. If, for example, you sell by the six-pack,
when you sell five units, you will be selling five six-
packs. It is very important that you set up your
selling units correctly.

User Guide Setting up Items 39

 Enter opening stock on hand quantities and 5 Click Opening Balances.
values 6 Click Adjust Balances to adjust the balances of your inventory asset
Once you have created your inventory items, you need to enter account to match the inventory values. (If you have already entered
quantities on hand as at your conversion date and their values. This opening balances for your inventory asset account, click Continue
is done in the Count Inventory window. instead.) The Adjust Inventory window is displayed.

The Count Inventory window is also used to routinely adjust the The Adjust Inventory window shows an adjusting entry in the
quantities of your inventoried items (due to theft, spoilage, etc.) scrolling list for each item you entered a quantity in the Counted
recorded in MYOB AccountEdge so they match the actual quantities column of the Count Inventory window.
you have in stock. 7 Make any changes to the default entries in the Inventory Journal
1 Go to the Inventory command center and click Count Inventory. Number, Date and Memo fields.
The Count Inventory window is displayed. 8 Enter the unit cost of each item (enter how much a single unit of
This window lists all the items and their on-hand quantities each item cost you, not how much you’re selling it for).
currently on record in MYOB AccountEdge. This quantity is in Do not change the account number in the Account column.
inventory units, not buying units or selling units. For example, say
you buy soft drink by the six-pack and inventory it by the can; a 9 Click Record. MYOB AccountEdge will update the value of each
quantity of 24 in the On Hand column means you have twenty four item in the scrolling list.
cans in inventory, rather than twenty four six-packs. You can print the Items List (Summary) report to check your
N OTE :Print the Inventory Count Sheet You can print out the inventory status. For more information on printing reports, see
Inventory Count Sheet (which is a list of all your items) by clicking ‘Using Reports’ on page 161.
Print in the Count Inventory window. Enter your quantities on
these stock sheets; then you can enter them easily in the Count
Inventory window.

2 Enter the quantity counted in the Counted column for each item.
Zeros appear in the On Hand column because MYOB AccountEdge
has no record of any of your items yet. The Difference column will
change to reflect the difference between the On Hand column and
the Counted column.

3 Click Adjust Inventory when you have entered all your item
quantities. The Default Expense Account window is displayed.
4 Click Continue to indicate to MYOB AccountEdge that you are
making an opening adjustment to your inventory asset account.
The Opening Balance Check window is displayed, informing you
that MYOB AccountEdge has noticed that some of your on-hand
inventory quantities are zero.

40 Chapter 2 Setting Up Your Company File MYOB AccountEdge, Version 3 us

 Setting up your Bank Accounts
To ensure the accuracy of your business records, you should keep It's unlikely that the debits will equal the credits in the Record
the record of your bank account balances in MYOB AccountEdge Journal Entry window. If the Out of Balance field underneath the
matched up with your bank’s records. This task is called reconciling scrolling list shows an amount, you'll need to enter another line
accounts. item with an amount that balances the debits and credits.

3 Record the General Journal entry.

Reconciling your accounts for the first time
4 Go to the Banking command center and click Reconcile Accounts.
When you prepare to reconcile an account for the first time in
The Reconcile Accounts window is displayed.
MYOB AccountEdge, you may notice some of the checks you wrote
and some of the deposits you made before you began using MYOB 5 Enter the account you want to reconcile in the Account field. The
AccountEdge appearing on your bank statement. In order to individual line items in the General Journal entry you just created
reconcile the account, these transactions must also appear in the (and any checks and deposits that you may have entered) appear in
the scrolling list in the middle of the window.
Reconcile Accounts window in MYOB AccountEdge. However, as
you conducted the transactions before you began using MYOB 6 Enter the ending balance on the statement that your bank sent you
AccountEdge, there will be no record of these transactions in MYOB in the New Statement Balance field.
AccountEdge. This situation must be resolved before you can 7 Enter the closing date that appears on your bank statement in the
reconcile the checking account. Bank Statement Date field. Only transactions dated on or before
To resolve the situation, you'll create a General Journal entry. Each that date will appear in the scrolling list.
uncleared check and uncleared deposit you conducted before using 8 Mark all the checks and deposits that are on your bank statement by
MYOB AccountEdge should be entered as line items on a General clicking in the column on the left; also mark the balancing amount
Journal entry. When you're ready to reconcile the checking account, entry you created in Step 2.
each line of the General Journal entry will appear in the Reconcile 9 Click Reconcile. Your account should now reconcile. Click
Accounts window. Reconcile again to complete the reconciliation process.

To reconcile your account for the first time

1 Go to the Accounts command center and click Record Journal

Entry. The Record Journal Entry window is displayed.

2 Enter your checking account in the Account column and create a

General Journal entry for the checking account, with a separate
debit for each deposit that hasn't cleared yet and a separate credit
for each check that hasn't cleared yet.

User Guide Setting up your Bank Accounts 41

Setting up Categories and Jobs
MYOB Accounting can track financial information at three levels: 4-2020 Parts Income [Detail]

l Accounts level—view the profitability and financial information of 4-2030 Accessories Income [Detail]
your business as a whole.
When entering a transaction, the appropriate account is allocated
l Categories level—view the profitability and financial information to each individual amount (or line). A standard Profit & Loss
of your individual business divisions, departments, properties, statement can then be printed for the business showing a complete
offices or locations. breakdown of the income and expenses generated by the business.
l Jobs level—view the profitability and financial information of the At this level, though, it is difficult to see how well the two lines of
individual jobs or tasks carried out for customers and clients. business are performing; categories can provide this facility.
The following example illustrates how accounts, categories and jobs
are interrelated: Categories level

A car dealer has two lines of business–car sales and a service Five categories could be set up: New Car Sales, Pre-owned Car
department. The car sales department sells both new and pre- Sales, Service, Parts and Accessories. When entering a transaction,
owned vehicles. The service department reqularly takes on multiple the appropriate category is assigned to it. A profit and loss
jobs for particular customers that last several days. The business statement can then be prepared for each of these categories; this is
owner could set up MYOB AccountEdge in the following way, an easy way to compare the division’s profitability and
although there are many ways in which the system could be set up: performance. At this level, though, it is difficult to see how
profitable particular jobs or tasks have been; jobs can provide this
Accounts level facility.

The Accounts List could be set up to provide a basic overview of the Jobs level
business’ overall performance. For example, the following income
accounts could be used: Jobs could be set up to track income and expenses related to service
jobs — this is particularly useful when multiple jobs are performed
4-0000 Income [Header] for a single customer. When you enter a transaction, the
4-1000 Car Sales [Header] appropriate job number can be assigned to each individual amount
(or line). This enables you to allocate several jobs to the various
4-1010 New Car Sales [Detail]
amounts in a transaction. For example, in the situation where a bill
4-1020 Pre-owned Car Sales [Detail] includes the purchase of parts for three customers you could specify
the three jobs that the purchase relates to. A profit and loss
4-2000 Service and Parts income [Header]
statement can then be prepared for each job, and actual results can
4-2010 Service Income [Detail]

42 Chapter 2 Setting Up Your Company File MYOB AccountEdge, Version 3 us

be compared with budgeted values to produce a Jobs [Budget showing in the Pay Bills window will also be assigned to the bill
Analysis] report. payment.

To set up your category preferences

Setting up Accounts
You can set up your accounts using the Easy Setup Assistant (see 1 Go to the Setup menu and choose Preferences.
‘Setting up Accounts’ on page 22) or in the Accounts command 2 Click the System tab.
center (see ‘To add new accounts to your Accounts List’ on
3 Mark the Turn on Categories tracking checkbox. If you want to
page 103).
make the selection of a category mandatory for all transactions,
choose Required from the drop-down list.
Setting up Categories
To create a category
If you have more than one division, department or company for
which you want to track financial information, categories may be 1 Go to the Lists menu and choose Categories. The Categories List
the solution for you. When entering sales, bills, receipts or window is displayed.
payments, you can assign the transactions to a category, and then
2 Click New. The Edit Category window is displayed.
produce financial reports for each category.
3 Enter a category ID that will be used to identify the category, for
Categories can be assigned to the following transaction types: example, Sales.
l Spend Money transactions 4 Enter the category’s complete name, for example New Car Sales
l Receive Money transactions
5 Enter a description of the category, or notes related to the category,
l General Journal Entries for example, 100 High Street, New Car Sales Department.
l Sales
l Purchases
l Inventory Transfers
l Inventory Adjustments
l Paychecks
l Historical Sales and Purchases

NOTE : You cannot allocate categories to certain transactions

There are certain transactions for which you cannot allocate a
category. These are: Pay Bills, Receive Payments, Prepare Bank
Deposit, Settle Returns and Credits/Debits and Pay/Receive
Refunds. When entering these transactions, the categories assigned 6 Click OK.
to the original transactions will be used when the new transaction is
recorded. For example, the categories assigned to purchases

User Guide Setting up Categories and Jobs 43

 Setting up Jobs 4 Enter information about the job, such as a job number, name,
description and start date. For detailed field help, click Help.
You can use MYOB AccountEdge to keep an account and detail
record of your jobs. Specific job-tracking tasks you can accomplish
include:

l Organize jobs in a hierarchy

l Set account-by-account budgets for each job
l Link jobs to specific customers
l Assign individual line items on transactions to jobs
l Track reimbursable expenses for your jobs
l Prepare reimbursement sales with markup
l Extensively analyze profit and loss for a job
5 Link a customer card to the job if you wish.
To create a job You can view details of all jobs linked to a customer in the Jobs tab
of the customer’s card.
1 Go to the Lists menu and choose Jobs. The Jobs List window is
displayed. 6 Click OK.

2 Click New. The Job Information window is displayed.

To change the level of a job
3 Specify whether this is a Detail or Header job. Choose:
If you want to change the level of a job in your Jobs List in order to
n Detail Job (Postable) if you want to assign transactions to this change its hierarchy, you can do so later from the Jobs List window
job throughout MYOB AccountEdge. (go to the Lists menu and click Jobs). For instructions on changing
n Header Job (Non-Postable) if you don’t want to assign job levels, in MYOB Help choose Jobs > Finding and changing job
transactions to this job, but want to use it as a header for a information.
group of Detail jobs. The Header job will display the totals of
the Detail jobs in the Jobs List window. To enter job opening balances

If you started using MYOB AccountEdge while a particular job was

in progress, you can create the job in MYOB AccountEdge, and then
enter any account activity generated by the job so far in the Job
Opening Balances window.
You can only enter opening balances for Detail jobs. Header jobs
take their balances from the Details jobs below them.

1 Go to the Setup menu, choose Balances and then Job Opening

Balances. The Job Opening Balances window is displayed.

44 Chapter 2 Setting Up Your Company File MYOB AccountEdge, Version 3 us

2 Enter the job number of the job for which you want to enter an
opening balance, or click the search icon to select a job from the
list.
3 Enter any opening balances for the job in the Opening Balances
column.
4 Repeat Steps 2 and 3 for each job for which you want to enter
opening balances.
5 Click OK when you have finished.

To enter budget amounts for jobs

You can enter budget amounts for every Detail job in the MYOB
AccountEdge system. The budget information you enter for each
job is used to help you assess your progress on a particular job and
to determine the job's effect on the state of your business. The
amounts you enter will be assigned to accounts in your Accounts
List for comparison purposes; once you begin recording
transactions for the job, you'll be able to print the Jobs (Budget
Analysis) report to see a comparison of the actual amounts and the
amounts you've budgeted for the job.

1 Go to the Lists menu and choose Jobs. The Jobs List window is
displayed.

2 Highlight the Detail job for which you want to enter budgets.
3 Click Budgets. The Job Budgets by Account window is displayed,
with the number of the job you selected in the Job Number field.

All of your company's income, cost of sales, expense, other income

and other expense accounts appear in the scrolling list.
4 Enter the amounts you've budgeted for specific accounts for this job
in the Budgets column and click OK.

User Guide Setting up Categories and Jobs 45

46 Chapter 2 Setting Up Your Company File MYOB AccountEdge, Version 3 us
Chapter 3
Receiving We all receive and spend money. Now, instead of just receiving and spending by check and
cash, many of the transactions we make are by electronic transfer. These transfers can be
made via the Internet, through ATMs and over the phone.

and MYOB AccountEdge is packed with features to help you track all these transactions. It
doesn’t matter if you are transferring money from one account to another, or spending or

Spending
receiving money—it’s easy in MYOB AccountEdge.
This chapter shows you how to record the checks you have written, the checks you have
received, your credit card purchases, your credit card payments, and your ATM and

Money Internet withdrawals and transfers.

This chapter also shows you how to use the versatile Bank Register to enter transactions
on-the-fly for your checking and credit card accounts. The Bank Register lets you record
checks and deposits, pay bills, receive payments and enter sales and purchases all from
one location. If you have online banking, you can import your downloaded bank and
credit card statements into MYOB AccountEdge via the Bank Register and speed up
transaction entry and account reconciliation.

MYOB AccountEdge can handle as many check and credit card accounts as you like and
allocate them to as many accounts as you like. If you are used to a manual multi-column
cashbook system, you can think of MYOB AccountEdge as having the capacity to run
multiple cashbooks with an infinite number of columns.
As you read on, you’ll see that you need to be aware of which check or credit card you are
tracking, and which account is being affected by the transaction. For example, if you wrote
a check to the phone company, you would use your checking account and allocate the
transaction to the phone account. If you paid the phone company by credit card, you
would use your credit card account and still allocate the transaction to the phone account.
Simply record where the money is coming from and where it is going; MYOB AccountEdge
will do the rest.

47
 Receiving Money
In MYOB AccountEdge, the term receiving money refers specifically deposit. For more information, see ‘Preparing a Bank Deposit’ on
to recording receipts other than payments relating to invoices. page 50.
These include capital injections, interest, adjustments and so on.
3 Enter the payor. Click the search icon to select a card from the
These types of receipts can be entered using the Receive Money
Cards List.
window in the Banking command center, or by selecting the
Receive Money transaction type in the Bank Register window. 4 Enter the amount received.

Remember that MYOB AccountEdge tracks invoicing separately 5 Enter the payment method. Click Details if you want to enter
through the Sales command center, so any customer payments details about the payment. For example, if you are being paid by
need to be entered using the Receive Payments window, or by credit card, you can record the credit card number and expiration
selecting the Receive Payment transaction type in the Bank date.
Register window. See ‘Receiving Payments’ on page 67 for more
6 Enter the date of the deposit and a detailed comment to help you
information.
identify the deposit later.
N OTE :Recording receipts in the Bank Register You can use the
7 Allocate the amount to the proper account(s).
Bank Register if you want to quickly record a batch of receipts and
don’t need to record details of each receipt, or allocate them to
A B C D
multiple accounts. See ‘Entering Transactions in the Bank Register’
on page 53.

To receive money

1 Go to the Banking command center and click Receive Money. The A Enter the account(s) to which you want to assign the deposit in this
Receive Money window is displayed. column. Click the search icon to view the Accounts List.

B Enter the amount you want to assign to each account here. The total
2 Choose one of the following:
amount in this column must equal the amount in the Amount
Received field before you can record the transaction.
l Deposit to account. Choose this option if you want the deposit
recorded directly in an account. Specify the account by clicking C Assign the amount to a job by entering the job code here (optional).

the search icon and making a selection from the checking D Enter a memo for each line item you enter in the transaction
accounts that you’ve set up. (optional).

l Group with undeposited funds. Choose this option if you want

the deposit to be recorded in the undeposited funds account
(and not in a checking account). After you’ve grouped all the
deposit transactions you want, you can then make a bank

48 Chapter 3 Receiving and Spending Money MYOB AccountEdge, Version 3 us

8 If you want to assign the transaction to a particular category, click
the search icon to select a category from the Category List.

For more information about categories, see ‘Setting up Categories

and Jobs’ on page 42.

9 Decide what you want to do with the deposit.

l To record the deposit, click Record.

l To store the deposit as a recurring deposit so that you can use it
many times in the future, click Save Recurring. In the Save
Recurring Template window, enter the necessary information
and click Save Template. (See ‘Working with Recurring
Transactions’ on page 116 for more information about creating
and using recurring deposits.)
If you want to record the deposit as an actual transaction now,
click Record in the Receive Money window. If you don’t want to
record the deposit at this time, click Cancel.

User Guide Receiving Money 49

 Preparing a Bank Deposit
If you use the Undeposited Funds account to group payments from Specify the payment method in the adjacent field (for example,
customers and other funds you receive, you can use the Prepare Visa). Only payments made using that method are listed.
Bank Deposit window to create a batch bank deposit that will
transfer funds from the undeposited funds account to the account
of your choice as a single transaction. Undeposited funds dated up
to and including the date you specify in the Prepare Bank Deposit
window will be displayed. You have the option of grouping the
receipts by payment method.

To prepare a bank deposit

1 Go to the Banking command center and click Prepare Bank

Deposit. The Prepare Bank Deposit window is displayed.

2 In the Deposit to Account field, enter the account into which the
funds selected in the Prepare Bank Deposit window will be
4 Enter a date to display undeposited funds up to and including that
deposited.
date.
3 If you want to group payments by payment method, click the
5 Use the Memo field to record the purpose of the transaction. We
Select Receipts by down arrow and choose Payment Method.
recommend that you make a detailed comment so you’ll be able to
identify the transaction when you review your records later on.

6 Select the receipts you want to include on the bank deposit by

marking the Deposit column.

7 Click Record.

50 Chapter 3 Receiving and Spending Money MYOB AccountEdge, Version 3 us

 Spending Money
In MYOB AccountEdge, spending money refers to transactions that check number, amount, memo, etc. Click Help for detailed field
affect your company’s checking accounts, credit card accounts, help.
petty cash accounts and other cash accounts. Checks are usually
recorded in the Spend Money window or by selecting the Spend
Money transaction type in the Bank Register window.

If you want to make payments for bills entered using the Purchases
command center, you will need to enter the payment using the Pay
Bills window or by selecting the Pay Bill transaction type in the
If you want to change the default address displayed in the Payee
Bank Register window.
field, click the down arrow and make a selection.
NOTE :Recording checks in the Bank Register You can use the
Bank Register if you need to quickly record several checks and don’t 4 Allocate the check to the correct account(s).
need to record details of each check or allocate them to multiple
accounts. See ‘Entering Transactions in the Bank Register’ on A B C D
page 53.

To record a check
A Enter the account(s) to which you want to assign the check amount
1 Go to the Banking command center and click Spend Money. The
in this column. Click the search icon to display the Accounts List.
Spend Money window is displayed.
B Enter the allocation amount here.
2 Click the search icon next to the Account field and select the
C Assign the check amount to a job by entering the job code
checking or other bank account that will be used for this check. here (optional).

D Enter a memo for each line item you enter in the transaction
(optional).

3 Fill in the information in the check area of the window, just as you
5 If you want to assign the transaction to a particular category, click
would if you were writing a paper check. Enter the Payee card,
the search icon to select a category from the Category List.

User Guide Spending Money 51

 For more information about categories, see ‘Setting up Categories
and Jobs’ on page 42.

6 Decide what you want to do with the check.

l To print and record the check, click Print.

l To record the check, click Record. If you want to print this check
later, you can do so from the Print Checks window. This window
allows you to customize your checks and print them as a batch.
For more information, see Chapter 12, ‘Printing Forms,’ on
page 151.
l To store the check as a recurring check so that you can use it many
times in the future, click Save Recurring. In the Save Recurring
Template window, enter the necessary information and click
Save Template. (For more information about saving and using
recurring check, see ‘Working with Recurring Transactions’ on
page 116.)
If you want to record the check as an actual transaction now, click
Record in the Spend Money window. If you don’t want to
record the check at this time, click Cancel.

52 Chapter 3 Receiving and Spending Money MYOB AccountEdge, Version 3 us

Entering Transactions in the Bank Register
The Bank Register allows you to quickly and efficiently enter all To enter a transaction in the Bank Register
your transactions for both asset accounts with checking privileges
1 Go to the Banking command center and choose Bank Register.
and liability accounts with credit card privileges from one window.
The Bank Register window is displayed.
For example, you can enter the following transactions in the Bank
Register: checks, deposits, payments to vendors, payments from 2 In the Account field, specify the checking or credit card account
customers, sales and purchases. that will be used for this transaction.

The main advantages of using the Bank Register to enter 3 Choose the type of transaction from the Type drop-down list
transactions (in preference to using transaction windows such as
4 Enter the ID or check number and the date of the transaction.
Spend Money and Pay Bills) are speed and convenience. You can
record a customer payment, pay a bill and then write a check 5 Enter the name of the card for whom this transaction is intended or
without having to open multiple windows and switch between click the search icon and select a card from the Cards List.
them. Given that transactions can be recorded with minimum
6 Enter the total amount of the transaction, including tax.
detail, you save valuable time when entering a batch of
transactions. NOTE : Overpayments to vendor If this is a vendor payment and
you are overpaying them, an Out of Balance message will be
If you need to enter additional information about a transaction such displayed when you record the transaction. Click Split to open the
as finance charges and discounts or change details such as the tax source window and apply the overpayment.
amount and payment method, you can use Split in the Bank
NOTE : Payment Method If you selected the Receive Money,
Register to display the corresponding transaction window and Enter Sale, Receive Payment or Enter Payment transaction type,
continue with the rest of the transaction entry in that window. You note that the payment method and details used are the ones you
can also use Split to allocate an amount to multiple accounts or assigned to the customer in the Payment Details view of the Card
apply payments to a particular invoice or bill. Information window. If no default payment method was assigned
to the selected customer, no payment method is assigned to this
NOTE : Importing your online bank and credit card statements
transaction. If you want to change or specify a payment method,
using the Bank Register You can also use the Bank Register to
click Split, enter the payment details in the source window and then
import your bank and credit card statements into MYOB
record the transaction. If the transaction type is Enter Sale, the Split
AccountEdge. If a statement contains any transactions that you have
button is not available; you will need to record the transaction, then
not entered into MYOB AccountEdge, you can add them quickly
click the zoom arrow next to the transaction in the Bank Register’s
using the Bank Register. For more information, see ‘Importing
transaction history list to open the source window.
Statements into MYOB AccountEdge’ on page 55.

User Guide Entering Transactions in the Bank Register 53

7 For all transactions (except customer and vendor payments) enter 9 Choose what you want to do with the transaction.
the allocation account.
l To record the transaction, click Record.
l To store the transaction as a recurring transaction so that you can
use it many times in the future, click Save Recurring. In the Save
Recurring Template window, enter the necessary information
and click Save Template. (Note that this option is available only
for some transaction types.) For more information about saving
and using recurring transactions, see ‘Working with Recurring
Transactions’ on page 116.

Note that the Split button is not available for Sales and
Purchases.
N OTE :If the transaction requires more than one allocation
account If you need to allocate the amount to more than one
account or the payment to more than one invoice or bill, click Split.
The source window for this type of transaction is displayed.
Continue entering the rest of the transaction from this window.
Click Record when you have finished. Notice that the transaction
you just recorded appears in the scrolling list of the Bank Register.
You can now begin entering another transaction in the Bank
Register.

8 If you want to assign the transaction to a particular category, click

the search icon to select a category from the Category List.

For more information about categories, see ‘Setting up Categories’

on page 43.

54 Chapter 3 Receiving and Spending Money MYOB AccountEdge, Version 3 us

Importing Statements into MYOB AccountEdge
While some businesses record their transactions in MYOB To import your statement
AccountEdge as they are made, others prefer to leave them until the
You can also import your statement by clicking Get Statement in
end of the month and enter them all at once.
the Reconcile Accounts window.
Regardless of how you choose to do it, MYOB AccountEdge makes
1 Go to the Banking command center and click Bank Register. The
transaction entry and account reconciliation really simple.
Bank Register window is displayed.
If you have online banking, you can simply use the Get Statement
2 Enter the account in the Account field.
feature in MYOB AccountEdge. Bank or credit card statement files
that you have downloaded to your computer can be imported into 3 Click Get Statement. The Open dialog box is displayed.
MYOB AccountEdge simply by clicking Get Statement in the Bank
4 Locate and select the statement file that you downloaded.
Register or the Reconcile Accounts window. MYOB AccountEdge
will then automatically match transactions on your statement with 5 Click Open. The transactions in your statement will be
the transactions you entered in your company file. Matched automatically matched with the transaction in your file by using the
transactions will be marked as cleared for reconciliation, making it the check number and amount as the criteria for matching checks
easy to reconcile your account at month-end. and the amount as the criterion for matching deposits. If:

If MYOB AccountEdge cannot find a match, you have the option of l there are any unmatched transactions, the Unmatched
matching the transactions manually with uncleared transactions in Statement Transactions window is displayed. Go to Step 6.
MYOB AccountEdge, adding them to MYOB AccountEdge or l all your transactions match, that’s it! These transactions will be
skipping them altogether. Unmatched transactions are usually marked as cleared in the Reconcile Accounts window.
account fees, government taxes, and penalty charges applied by
6 Choose what you want to do with the unmatched transactions.
the bank.

NOTE : Download your statement Before you import your bank or

l If you want to match a transaction, highlight that transaction
credit card statement into MYOB AccountEdge, you will need to and click Match Transaction. The Match Transaction window is
download the statement file from your bank. Your bank’s website displayed, listing the uncleared transactions in your company file
should provide instructions on downloading this file. The following for the specified account. Select the transaction that you want to
file formats are supported by MYOB AccountEdge: OFX, QFX, QIF match with the statement transaction and click Match. The
and OFC. Make sure you save the bank file in one of these formats. transaction will be marked as cleared. Repeat this step for each
transaction that you want to match.
l If you want to add a transaction to your company file, highlight
the transaction and click Add Transaction. The Spend Money
window or the Receive Money window (depending upon the

User Guide Importing Statements into MYOB AccountEdge 55

 type of transaction you are adding) will be displayed. Enter the
details of the transaction and record it. The transaction is shown
as cleared. Repeat this step for each transaction you want to add
to MYOB AccountEdge.

C AUTION : Match or add all transactions We recommend you

finish adding or matching every transaction in the unmatched
transaction list before you click Done. If you open the statement file
again, the original unmatched statement list reappears.

7 When you have finished matching and adding transactions, click

Done. Any transactions that were not matched are skipped. A list of
all the transactions that were cleared are displayed.

56 Chapter 3 Receiving and Spending Money MYOB AccountEdge, Version 3 us

 Tracking Credit Card Purchases
The following procedures show you how to track purchases you To record credit card payments
make with your company’s credit cards, using the Spend Money
1 Go to the Banking command center and click Spend Money. The
window. You can also use the Bank Register for this purpose (for
Spend Money window is displayed.
more information, see ‘Entering Transactions in the Bank Register’
on page 53). 2 Enter the checking account that you are using to make this
payment in the Account field.
To record purchases made with a company credit
3 Enter the credit card company’s name in the Payee field.
card
4 Enter the amount you paid.
Before you begin recording credit card purchases, make sure you
create a liability account such as Visa or American Express to track 5 In the scrolling list area of the Spend Money window, enter the
the amount owed to each credit card provider. For information on liability account you’ve created to track purchases made with this
creating an account, see ‘To add new accounts to your Accounts credit card.
List’ on page 103.
6 Record the transaction.
1 Go to the Banking command center and click Spend Money. The
Spend Money window is displayed.

2 Click the search icon next to the Pay from Account field and select
the credit card account you want to use.

3 Enter the date, amount of the credit card purchase, payee and
memo.

4 In the scrolling list area of the Spend Money window, enter the
allocation account you want to use. This is usually an expense
account.

5 Click Record to record the credit card purchase.

User Guide Tracking Credit Card Purchases 57

 Recording Miscellaneous Transactions
To void a check number To record Internet or phone banking withdrawals
and transfers
You may want to void a check for any number of reasons. You may,
for example, find that one of your check forms is damaged and not 1 Display the Spend Money window and choose the account from
usable for printing or that you have made a mistake when writing which you will withdraw the amount.
the check manually. NOTE :Vendor payments If you are entering a payment to a
Follow the steps below to void a check that you have not recorded vendor for a recorded purchase, you should enter it in the Pay Bills
window. See ‘Paying Bills’ on page 82.
in MYOB AccountEdge. If you want to make changes to a check you
have already recorded in MYOB AccountEdge, see ‘Changing a NOTE : Vendor card for Internet or phone banking You can set
transaction’ on page 114. up a supplier card for Internet and phone booking and record your
customer reference number in the Custom field vendor card for
1 Display the Spend Money window and choose the check account Internet or phone banking
from which you want to void the check number.
2 In the Check # field, enter a non-numeric word or phrase to
2 Enter the check number you want to void in the Check No. field. describe the withdrawal. That way, you’ll know the transaction isn’t an
However, do not enter an amount in the Amount field. There is also actual check when you view it in a list or on a report. This will also allow
no need to assign allocation accounts. you to skip the transaction when you print a range of numbered
checks.
3 Click Record and then confirm that you want to void the check.
3 Link the transaction to a card if you want.
To record ATM Withdrawals and Transfers
4 Complete the other fields in the window as normal.
1 Display the Spend Money window and choose the account from
5 Enter the receipt number in the Memo field and record the
which you want to withdraw the amount.
transaction.
2 In the Check # field, enter a non-numeric word or phrase to
describe the withdrawal. That way, you’ll know the transaction isn’t an
actual check when you view it in a list or on a report. This will also allow
you to skip the transaction when you print a range of numbered
checks.

3 Complete the other fields in the window as normal.

4 Click Record to record the transaction.

58 Chapter 3 Receiving and Spending Money MYOB AccountEdge, Version 3 us

Chapter 4
Entering Where would your business be without sales? All businesses need sales to make a profit,
but to survive in a competitive environment you need to be informed as to what’s selling,
how long your customers are taking to pay you, and how successful your marketing has

Sales and been at generating sales.

MYOB AccountEdge will help you take control of your sales and customers. As well as

Payments
handling all your accounting requirements, MYOB AccountEdge’s ability to handle
quotes, orders and invoices, and its reporting features are designed to help you and your
salespeople make sales.
For example, you can use MYOB AccountEdge to help you prepare quotes for your
customers, then a week later, contact your customers, bring up a list of the quotes you have
given, and turn the quotes into orders. When the goods are shipped, you can turn the
orders into invoices, print your customized packing slips, and e-mail or print your fully
customized invoices. If the need arises, you can follow up the invoices with fully
customized statements.

You can use MYOB AccountEdge’s powerful sales tracking features to find out who is
buying what, when and from which salesperson. You can use MYOB AccountEdge to find
out who owes you money, how much and what for. If your customized statement fails to
get a response, you can use the powerful mail merge facilities to send a personalized
reminder letter.
Handling customer payments couldn’t be easier. Payments—including under and
overpayments—can be deposited to any of your checking or credit card accounts. Customer
returns can be easily applied to open invoices or, if the need arises, payments can be
returned to your customers.

59
Entering Sales
You can enter a sales transaction as a Quote, Order or Invoice. To enter a sales transaction, you’ll complete the following:

l You can enter a quote in MYOB AccountEdge to provide an n Choose the type of sale you want
estimate or sales quote to a customer without creating a n Enter information about the customer
transaction. A quote has no impact on your inventory levels and n Enter the line items—the items or services you are selling
can be changed to an order or an invoice when your customer is n Enter additional information about the sale
ready to buy. n Complete the sale
l An order is a sale where no service or goods have been delivered.
While orders don’t affect your financial numbers, they do affect
Step 1: Choose the type of sale you want
your committed inventory numbers in the Analyze Inventory
window and reports. Orders don’t create a transaction in MYOB Choose the status and layout for the transaction you are creating.
AccountEdge unless the customer has paid you a deposit. The layout displayed in the Sales window is determined by the
l An invoice is usually created when you have delivered the items default you selected when setting up sales details (using the Sales
or services the customer ordered and can expect payment from Easy Setup Assistant) or in the customer’s card.
the customer. It will update the appropriate accounts, including 1 Go to the Sales command center and choose Enter Sales. The
the account for tracking receivables. Invoices can be open, closed Sales window is displayed.
or credits. An invoice can’t be changed to a quote or an order.
2 Choose the status from the pop-up menu in the upper left corner of
the window.
Entering sales in the Bank Register
3 If you want to change the layout, click Layout. The Select Layout
While sales are usually recorded in the Sales window, miscellaneous
window is displayed.
one-time sales that have been paid for can be recorded in the Bank
Register. The advantage of using the Bank Register for this type of 4 Choose the layout (Service, Item, Professional, Time Billing or
sale is that you can quickly record the transaction with minimum Miscellaneous) you want to use and click OK.
detail. The Miscellaneous sale layout is used by default for sales
Note that the Miscellaneous layout is used only for adjustments
entered in the Bank Register. The payment method entered in the
and other sales that will not be printed.
customer’s card is used as the default. For more information, see
‘Entering Transactions in the Bank Register’ on page 53.

60 Chapter 4 Entering Sales and Payments MYOB AccountEdge, Version 3 us

 Step 2: Enter information about the customer 2 Make the necessary changes in the Credit Terms window and then
click OK to close the window. The Sales window is displayed again,
The information you enter in the top section of the Sales window
with the new credit terms appearing next to the Terms field.
will determine a number of things about the sale, including the
customer’s terms for the sale and the identification numbers
assigned to the transaction. Step 3: Enter the items or services you’re
selling
The scrolling list in the middle of the Sales window is where you
enter details of what you are selling. In this area, you’ll enter item
numbers, activity ID numbers, descriptions, account numbers (or
A B C D
names depending upon your selection in the Preferences window)
A Enter the customer’s name. Click the search icon to display your and various other information that will serve as the detail for your
customer list. transaction.
B Click the zoom arrow to alter the credit terms for this sale only. See
When you enter information in one row in the scrolling list, you
the following section.
enter one line item of the transaction. You can enter as many line
C Enter the invoice number here.
items on a sale as you want.
D If the customer gave you a purchase order for this transaction, enter
that purchase order number here. The actual fields that appear in the scrolling list differ, depending
upon the type of sale you’re creating. The following illustrations
briefly describe the line item entries you can make for item and
To change the customer’s credit terms for this
transaction service sales in the Sales window; click Help for a detailed
description of the line items’ columns.
When you enter a customer’s name in the Customer field, the
terms you’ve assigned to the customer appear next to the NOTE : Add lines, subtotals and headers to invoices You can add
customer’s name automatically. If you want to change these terms lines, headers and subtotals to invoices to make it easy to separate
and subtotal different categories of sales in one invoice. For more
for this particular transaction, follow the steps below.
information, see ‘Adding lines, subtotals and headers to invoices’ on
NOTE :Changes only affect the current transaction. If you want page 63.
to change the credit terms that will be used for all future sales to this
customer, you should make that change in the Selling Details tab of
the customer’s card.

1 Click the zoom arrow next to the Terms field. The Credit Terms
window is displayed. Information about the terms for the
transaction is displayed in the window.

User Guide Entering Sales 61

 Step 4: Enter additional information about
the sale
Item sale
The actual fields that appear at the bottom of the Sales window
differ, depending upon the type of sale you’re creating. Click Help
for a detailed description of each field in the window.
A B C D E F G H I

Service sale

A B C D E F G H
J K

A Optional fields Enter optional information, such as the name of

A Ship Enter the quantity to be delivered.
the salesperson, a comment, method, promised
B Backorder Enter the quantity of the item to be placed on date of goods or services, and the referral source
backorder. An order for this amount will be created (how the customer found you). Enter text or click
automatically when you click Record. the search icon to choose from the Select From
List window.
C Item Number Press TAB and choose an item from your item list.
B Already Printed or Mark this checkbox if you do not want to print the
D Description A description of the item is displayed automatically. Sent sale.
You can change this if you want.
C Journal Memo The Journal Memo is generated automatically. You
E Price The price of the item is displayed automatically. You can change this if you want.
can change this if you want.
D Tax Click the zoom arrow if you want to view or
F Discount Enter a volume discount as a percentage. change the tax amounts assigned to the sale.
G Total The total price of the items is calculated automatically. E Freight Enter any charges for freight. Mark the field to the
right if freight is taxable.
H Job Enter a job number here to assign a line item to a
specific job (optional). For more information about F Paid Today Enter an amount here to indicate how much
jobs, see ‘Setting up Categories and Jobs’ on page 42. money the customer paid you at the time of the
sale or, if you’re creating an order, how much
I Tax Mark the Tx column if the line item is taxable.
money the customer gave you as a deposit.
J Description On a service, professional or miscellaneous invoice,
G Payment Method Enter the payment method that the customer used
enter a description of the goods or services sold.
to pay you. Click Details to enter details of the
K Acct # or Name On a service, professional or miscellaneous invoice, payment method.
choose the account to which to allocate the sale. Press
H Tax Code If you want to change the tax code used for this
TAB and choose an account from your Accounts List.
sale, enter a different tax code here.
This is usually an Income account. You should not
select your account for ordinary sales.

62 Chapter 4 Entering Sales and Payments MYOB AccountEdge, Version 3 us

Step 5: Complete the sale l Save the sale as a recurring sale so that you can use it many times
in the future. Click Save Recurring. In the Save Recurring
Now that you’ve finished making entries in the Sales window, there
Template window, enter the necessary information and click
are a number of tasks you can perform with the transaction. Be sure
Save Template. (For more information about creating and using
to review all the following options before you choose what you
recurring transactions, see ‘Working with Recurring Transactions’
want to do.
on page 116.) If you want to record the sale as an actual
l Record the sale. To record the sale without printing it, click transaction now, click Record in the Sales window. If you don’t
Record. want to record the sale at this time, click Cancel.
l Print and record the sale. If the sale you’ve created is an item,
service, time billing or professional invoice, you can print and Adding lines, subtotals and headers to
record the transaction at the same time. Click Print in the Sales invoices
window. For more information about printing invoices, see
You can add lines, headers and subtotals to invoices, making it easy
Chapter 12, ‘Printing Forms,’ on page 151.
to separate and subtotal different categories of a sale on one
l Record and e-mail the sale. You can prepare an e-mail containing
invoice.
the sale directly from MYOB AccountEdge. Click Send To and
choose E-mail. Review and make entries in the E-mail window
To insert a blank line
and click Send. The e-mail which will include a PDF (Portable
Document Format) attachment, will be sent to your default e- 1 Position the mouse pointer anywhere on the line item above which
mail application’s Outbox. Send the file from your e-mail you want the blank line to appear.
application as you normally do.
2 Go to the Edit menu and choose Insert Line.
l Record and fax the sale.
OS 8.6- 9.x users Click Send To and choose Fax. A dialog box To insert a header
from your fax application’s is displayed. Send the fax, using your
You can group several line items by inserting a header.
fax application as you normally do.
Mac OS X users Click Send To and choose Fax. A dialog box 1 Position the insertion point in the line item above which you want
from your fax application’s is displayed. Select your fax driver the header to appear.
from the printer destinations and send the fax, using your fax
2 Go to the Edit menu and choose Insert Header. A blank line will
application as you normally do.
appear in the scrolling list with the cursor positioned in the
l Record and save the sale to disk as a PDF. You can save the sale as Description column.
a PDF (Portable Document Format) file which you can attach to
an e-mail. Click Send To and choose Disk. In the dialog box that
is displayed, enter a file name and location for the file and click
Save.

User Guide Entering Sales 63

3 Type the text for the header. The text appears in gray, as shown 2 Go to the Edit menu and choose Insert Subtotal. As shown below,
below. a line will appear, displaying the subtotal of all the line items above
it.

To insert a subtotal
To delete a blank line, line item, header or subtotal
1 Position the insertion point in the first line below the items to be
subtotaled. 1 Position insertion point in anywhere on the blank line, line item,
header or subtotal you want to delete.

2 Go to the Edit menu and choose Delete Line.

Changing the Status of a Sale

You can easily change the status of a sale. If you enter a quote or an l Click Invoice to convert the quote to an invoice.
order in MYOB AccountEdge, you can convert it to an invoice once Three new fields appear in the Sales window: Paid Today, Payment
your customer is ready to buy your product or service. A quote can Method and Balance Due.
be changed to an order or invoice. An order can only be converted
3 Make any necessary changes to these and other fields. Change the
to an invoice. The status of an invoice cannot be changed.
transaction date to today’s date.
To convert a quote to an order or invoice 4 Click Record. The new order or invoice is created in MYOB
You can convert a quote to an order or invoice from the Sales AccountEdge. The original quote will remain in the Sales Register
window or from the Sales Register. unless you have indicated in the Sales view of the Preferences
window that you want quotes to be deleted once they are recorded
1 Locate and display the quote. To do this:
as orders or invoices.
l in the Sales window, enter the name of the customer whose
quote you want to convert. Select the quote from the list that is
displayed and click Use Sale, or
l from the Sales Register, click the Quotes tab. Find the quote
using the search filters at the top of the window and highlight it.

2 Convert the quote. To do this:

l Click Order to convert the quote to an order, or

64 Chapter 4 Entering Sales and Payments MYOB AccountEdge, Version 3 us

 To convert an order to an invoice To convert several orders to invoices at once

You can convert an order to an invoice from the Sales window or You can convert several orders to invoices at once using the To Do
from the Sales Register. If you want to convert several orders at List window. Keep in mind that the conversion will occur
once, see the following section. automatically and will be recorded with today’s date; you won’t get
a chance to review or change any of the transactions before they’re
1 Locate and display the order. To do this:
converted. If you’re not sure you want to convert a particular order,
l in the Sales window, enter the name of the customer whose we suggest you use the Sales window to manually make the
order you want to convert. Select the order from the list that is conversion (see previous procedure).
displayed and click Use Sale, or
1 Click To Do List from any command center. The To Do List window
l from the Sales Register, click the Orders tab. Find the order
is displayed.
using the search filters at the top of the window and highlight it.
2 Click the Orders tab to display a list of all your sales and purchases.
2 Click Invoice to convert the order to an invoice.
If you want to view details about a specific order, click the zoom
3 Make the necessary changes to the information in this window. arrow to the left of the customer’s name.
Change the transaction date to today’s date.
3 Select the orders you want to convert to invoices by clicking the
4 Click Record. The new invoice is created in MYOB AccountEdge Action column.
and the original order is removed.
4 Click Record as Actual.

Reviewing your Sales Information

An important part of managing your business revolves around l Find Transactions helps you find individual sales transactions
collecting your sales data and understanding its effects on your quickly. See ‘To find a transaction using Find Transactions’ on
overall financial picture. MYOB AccountEdge contains a number of page 110.
tools that you can use to review your sales information so you can l The To Do List displays all open sales and recurring sales and
make better decisions about your business. orders, sorted by overdue dates.
l The Sales Register gives you an overall picture of your sales l The Analyze Sales window can help you understand the “big
activity—open and closed invoices, orders, quotes, returns, picture” of your sales activity graphically. See ‘To analyze your
credits, etc. See ‘To find a transaction using the Sales Register’ on sales activity’ on page 66.
page 110. l Sales reports help you keep track of your sales activity.

User Guide Reviewing your Sales Information 65

 l The Transaction Journal lists journal entries of your sales and To analyze your sales activity
other transactions. See ‘To find a transaction using the
Understanding the “big picture” of your sales activity will help you
Transaction Journal’ on page 113.
spot business trends and anticipate your company’s future needs.
l You can view seven years of sales history for an item or a
The Analyze Sales window can help you perform this important
customer: for the past five past years, the current year and the
task by providing various illustrations—in graphs or in lists—of your
next year.
sales activity.

To view a list of all unpaid sales, sorted by days 1 Go to the Sales command center and click Analysis. The Analyze
overdue Sales window is displayed.

1 Click To Do List in any command center. The To Do List window is 2 Click Filters and choose the sales figures, time periods and other
displayed. criteria you want to view. Click OK. The information you selected
appears in the Analyze Sales window.
2 Click the A/R tab. A list of all unpaid sales is displayed.
3 Use the buttons in the Analyze Sales window to view illustrated
3 The Overdue column shows the number of days a receivable is
reports of your sales activity. For more information, click Help in this
overdue (a negative number in the Overdue column indicates that
window.
the payment is not yet due). The number of days an invoice is
overdue is calculated by checking the original date of the sale,
To view sales reports
comparing it to today’s date and looking at the customer’s credit
terms. There are a number of sales reports in MYOB AccountEdge that can
help you track your sales activity. For example, you can run the
4 If you want to send a collection letter using mail merge to
Receivables Aging report to view your customers’ current balances
customers with overdue payments, select those customers by
sorted by aging periods. The Analyze Sales (Item) report tells you
clicking in the Action column.
at a glance which stock items are selling best. The Referral Source
5 If you have installed OfficeLink, click Mail Merge to create the letter report is great for marketing purposes—find out which referral
directly in your word processor. Otherwise, click Disk to create a source is bringing your business the most money.
merge file that you can open in your word processor.
L To view a list of all your sales reports, go to the Reports menu and
In MYOB Help, choose Forms and Reports > OfficeLink and click the choose Index to Reports. Click the Sales tab in the Index to
topic Creating personalized letters using Officelink for more Reports window. For information on displaying, customizing and
information on creating collection letters using OfficeLink. printing your reports, see Chapter 13, ‘Using Reports,’ on
page 161.

66 Chapter 4 Entering Sales and Payments MYOB AccountEdge, Version 3 us

 To view sales history The History tab displays a total of seven years’ sales history for the
item or card: five past years, the current year and the next year. For
You can view sales history for an item, a customer or an employee.
more information, click Help in this window.
L Display the Item Information window for an item or the Card
Information window for a card, and then click the History tab.

Receiving Payments
In MYOB AccountEdge, when customers make payments for the the search icon and making a selection from the checking
sales you’ve conducted with them, you record the payments in the accounts that you’ve set up.
Receive Payments window; here you can apply the payment to l Group with undeposited funds. Choose this option if you want
one or more of the customer’s outstanding sales balances. If the the deposit to be recorded in the undeposited funds account.
customer is paying immediately after having purchased After you’ve grouped all the customer payments you want, you
merchandise or services, you should enter the payment amount in can then make a bank deposit.
the Paid Today field of the invoice. See ‘If a customer has overpaid you...’ on page 68 if a customer
While you would normally use the Receive Payments window to has paid you more than what they owe.
enter customer payments, you can also use the Bank Register 3 Enter details of the customer payment, such as the customer name,
window for this purpose. The Bank Register is a real time-saver amount received and payment method. Click Details to enter
when you need to enter several customer payments and don’t wish details of the payment.
to record detailed information (such as payment methods and
discounts) for each payment. Note that whenyou use the Bank 4 Adjust the memo and payment date if you want. You can change
Register for customer payments the entire payment is the ID number that is automatically generated. However, we
automatically allocated to the oldest invoices first. recommend that you use the default number to ensure you don’t
use duplicate IDs.
To receive payments

1 Go to the Sales command center and choose Receive Payments.

The Receive Payments window is displayed.

2 Choose the account that will be used to receive the customer

payment. 5 Indicate which sales will be affected—what debt will be reduced or
“paid off,” in effect—by the customer payment by entering
l Deposit to account. Choose this option if you want the deposit
amounts in the Amount Applied column. If the customer is paying
recorded directly into an account. Specify the account by clicking
a deposit for an order, look for “Order” in the Status column.

User Guide Receiving Payments 67

6 Make these entries in the scrolling list in the bottom half of the 7 Click Record to record the customer payment.
Receive Payments window. For detailed field help, click Help.
NOTE : Preparing a bank deposit of the undeposited funds
transaction If you chose to group the payment with other
undeposited funds, you will need to create a transaction within
MYOB AccountEdge to reflect the deposit of these funds into the
bank. You would normally do this at the end of the working day,
after the day’s customer payments have been banked. For more
information, see ‘To prepare a bank deposit’ on page 50.

NOTE : If a customer has overpaid you... If a customer overpays

A B C D their account, it is very important that the entire payment is entered
into the system. The full payment should be entered in the Amount
A Discount If you intend to award an early-payment discount Received field and in the Amount Applied column in the scrolling
for a sale, assign the discount to the appropriate list. When you record the payment, MYOB AccountEdge will
invoice in this column. Note that MYOB
automatically create a credit invoice for the overpaid amount. This
AccountEdge won’t allow you to assign a discount
to an invoice that is not being settled in full. If you can either be refunded to the customer or applied to a future
want to give the customer a discount, you can give invoice. For more information, see ‘Settling customer credit’ on
them a customer credit. See ‘Creating Customer page 71.
Credits’ on page 70.

B Amount Applied Enter how much of the customer payment you

want to apply to each sale in this column.

C Finance Charge If part of the payment was used to pay finance

charges, enter the finance charge amount here.
See ‘Adding Finance Charges’ on page 69 for more
information.

D Out of Balance Keep in mind that the amount(s) you apply in the
Amount Applied column will accumulate in the
Total Applied field; and the Total Applied amount
(plus finance charges) must equal the amount that
appears in the Amount Received field in the top
half of the window before you can record the
transaction. The Out of Balance amount must be
zero before you can record the transaction.

68 Chapter 4 Entering Sales and Payments MYOB AccountEdge, Version 3 us

Adding Finance Charges
Finance charges are amounts added to an outstanding balance as a
How finance charges are calculated
penalty for late payment. A finance charge can be added to a
customer’s statement; amounts paid by a customer to cover the MYOB AccountEdge looks at all open invoices and calculates their
charge are then recorded in the Receive Payments window. due dates (using the invoice terms). The overdue balance is then
multiplied by 1/30th of the monthly finance charge interest rate
Setting up and using finance charges (also entered in the invoice) for every day it is overdue.

To use finance charges, set up the linked accounts for tracking late If, during the overdue period, the customer makes a partial
payment charges in the Linked Accounts window (go to the Setup payment, MYOB AccountEdge adjusts the finance charge
menu, choose Linked Accounts and then Accounts). accordingly; the calculation is based on the daily overdue balance
for every open invoice.
Set the percentage you will be charging for late payments in the
customer cards.
Deleting finance charges
To show on a statement the finance charge owed by a customer,
When you enter a finance charge in the Receive Payments window,
mark the Add Finance Charges to Amount Due checkbox in the
two transactions are recorded—the customer payment and a
Print Statements window.
corresponding transaction in the Sales Journal.
When your customer pays the late payment charge, enter the
Therefore, if you want to delete a finance charge payment, you
amount in the Finance Charge field of the Receive Payments
must delete both transactions. If only one entry is deleted, the
window.
Receivables Reconciliation report may show an Out of Balance
Although MYOB AccountEdge does not track the history of finance amount equal to the finance charge.
charges, you can perform an account inquiry (using Find
When you delete one of the entries, you will be reminded to delete
Transactions) on the finance charge linked accounts to view the
the other entry for the finance charge. Note that the warning will
amounts paid.
appear even though you may have already deleted the
The finance charge payable by your customers will only appear on corresponding invoice or payment.
their statements; so you may want to keep a copy of the statements
sent to customers.

User Guide Adding Finance Charges 69

 Creating Customer Credits
In MYOB AccountEdge, a customer credit is a transaction that To manually create a credit
indicates you owe money to a customer.
NO N - I T EM S AL ES

Recording credits Choose this method of creating a customer credit if you want to
credit the customer for a returned non-item sale.
At various times you may want to issue a customer credit to a
customer. This may be in order to rectify a problem or simply record 1 Go to the Sales command center and choose Enter Sales. The
a customer credit that you may have offered. You can create a Sales window is displayed.
customer credit in one of the following ways:
2 Choose the status and layout for the sale.
l Reverse an existing sale. Use this method if you are crediting
3 Enter the customer details and credit details, and select the account
the customer for the entire sale.
number to be credited. This is normally an income account called
l Manually create a credit. You can use this method if you are Sales Returns. Enter the amount of the credit as a negative amount.
crediting the customer for part of a sale.
4 Click Record.
To reverse an existing sale
IT E M S A LE S
Use this method if you want to credit a customer for the entire sale Choose this method of creating a customer credit if you want to
and not just part of it. Note that your company file must be set to credit the customer for a returned item.
“unchangeable” before you can reverse an invoice; that is, the
Transactions CAN’T be changed; they must be reversed 1 Go to the Sales command center and choose Enter Sales. The Sales
window is displayed.
checkbox must be marked in the Security view of the Preferences
window. 2 Choose Item as the layout and enter the customer details.

1 Find and display the invoice. See ‘Finding a Transaction’ on 3 Enter negative quantities for the items being returned in the Ship
page 110. column. The cost of the items is displayed as negative.

2 Go to the Edit menu and choose Reverse Sale. After a few 4 Click Record.
moments, a customer credit is displayed in the Sales window.

3 If you want, you can make a few changes to the customer credit
(such as the date and memo), but you can’t change the accounts,
amounts and quantities that are associated with the credit.

4 Click Record Reversal.

70 Chapter 4 Entering Sales and Payments MYOB AccountEdge, Version 3 us

 Settling customer credit If you marked the Apply Customer Payments Automatically to
Oldest Invoice First checkbox in the Sales view of the Preferences
You can choose from two ways of settling a customer credit :
window, amounts will appear next to the oldest invoices in the
l By applying the customer credit to one or more of the customer’s Amount Applied column. However you can apply the credit to the
unpaid sales, thereby reducing the amount of money the customer’s oldest open sales; apply the credit amount to any one
customer owes you, or transaction; or you can divide it among many transactions in the
l By writing a refund check for the amount of the customer credit. list. Keep in mind, however, that the total amount you apply in the
Amount Applied column must equal the amount that appears in
To apply customer credits the Credit Amount field.

Follow the steps below to locate the customer credit you want and 5 Enter the amounts you want to apply to each open sale in the
then apply the credit to one or more of the customer’s outstanding appropriate field in the Amount Applied column.
sales. 6 Enter the customer credit amount in the Finance Charge field only
1 Go to the Sales command center and click Sales Register. The if you want to apply part of a customer credit to any unpaid finance
Sales Register window is displayed. charges the customer may have accrued.

2 Click the Returns & Credits tab. 7 If you want to give a discount to the customer for a particular sale,
enter the discount amount in the sale’s Discount column.
3 Click the Search by down arrow and choose Customer. Enter the
customer’s name in the adjacent field. A list of credits for that 8 Click Record to apply the customer credit.
customer is displayed. NOTE : If the transaction is unbalanced... If the transaction is
unbalanced, that is, if the total amount entered in the Amount
4 Highlight the credit you want to apply and click Apply to Sale. The
Applied column doesn’t equal the amount displayed in the Credit
Settle Returns & Credits window is displayed, listing all open sales
Amount field at the top of the window, a message will be displayed.
assigned to the customer.
Click OK to close the message. Then check that the amounts you
have applied to the various transactions are correct. If you change
the amount in the Credit Amount field, keep in mind that you can
only enter an amount less than the original customer credit amount.
If you choose to do this, the customer credit won’t be fully applied;
the remaining amount will continue to appear as a credit.

User Guide Creating Customer Credits 71

 To write a refund check

You can choose to pay the customer for the amount of a customer
credit using the Pay Refund function in the Sales Register.

1 Go to the Sales command center and click Sales Register. The

Sales Register window is displayed.

2 Click the Returns & Credits tab.

3 Click the Search by down arrow and choose Customer. Enter the
customer name in the adjacent field. A list of credits for that
customer is displayed.

4 Highlight the credit you want to refund and click Pay Refund. A
refund check for the amount of the customer credit is displayed in
the Settle Returns & Credits window.

5 Make any necessary changes to the information in the window.

If you change the amount in the Amount field, keep in mind that
you can only enter an amount less than the original customer credit
amount. If you choose to do this, the customer credit won’t be fully
settled; the difference will continue to appear as a customer credit.

6 Click Record to record the check or click Print to print and record
the refund check. For more information about printing checks, see
‘Printing Forms’ on page 153.

72 Chapter 4 Entering Sales and Payments MYOB AccountEdge, Version 3 us

Chapter 5
Entering Just as a business needs sales, it also needs purchases. Surviving in a competitive
environment means these purchases have to represent value for money—MYOB
AccountEdge will help you obtain value.

Purchases As with sales, MYOB AccountEdge will help you take control of your purchases and
creditors. As well as handling all your accounting requirements, MYOB AccountEdge’s
ability to handle quotes, orders and bills can help you make better purchases.
For example, you can use MYOB AccountEdge to record quotes from your vendors, then a
week later bring up a list of the quotes you have been given; you can then use MYOB
AccountEdge to fax or e-mail the successful vendors for you and easily turn the quotes into
orders. When the goods are supplied, you can turn the orders into bills. If the need arises,
MYOB AccountEdge will help you track down lost or damaged goods, and seek
replacements or refunds.
You can use MYOB AccountEdge to find out what is being bought, when and from which
vendors. You can easily find out how much you owe, to whom, and for what.

Handling vendor payments couldn’t be easier. MYOB AccountEdge offers you the choice of
cash, check and credit card. Any purchase returns can be easily applied to open purchases
or, if the need arises, a refund can be deposited to any of your checking or credit card
accounts.

73
Entering Purchases
You can enter a purchase transaction as a Quote, Order or Bill. To enter a purchase transaction, you’ll complete the steps below.

l You can enter a quote in MYOB AccountEdge to easily store an l Choose the type of purchase you want
estimate or quote you received from one of your vendors, l Enter vendor information
without creating a transaction. A quote has no impact on your l Enter line items—the items or services you are purchasing
inventory levels and can be changed to an order or bill when
l Enter additional information about the purchase
you’re ready to purchase.
l Complete the purchase
l An order is a purchase where no service or goods have been
received. While orders don’t affect your financial numbers, they
do affect your inventory numbers “on order” in the Analyze Step 1: Choose the type of purchase you want
Inventory window and reports. Orders don’t create a transaction Choose the required status and layout for the transaction you are
in MYOB AccountEdge unless you have paid a deposit to the creating. The layout displayed in the Purchases window is
vendor. An order can be changed to a bill. determined by the default you selected when you set up purchase
l A bill is usually created when you have received the items or details (using the Purchases Easy Setup Assistant) or the vendor’s
services you ordered and are required to pay the vendor. card.
Recording a bill will update the appropriate accounts, including
1 Go to the Purchases command center and click Enter Purchases.
the account for tracking payables. Bills can be open, closed or
The Purchases window is displayed.
debits. A bill can’t be changed to a quote or order.
2 Choose the required status from the pop-up menu in the upper left
Entering purchases in the Bank Register corner of the window.

While purchases are usually recorded in the Purchases window, 3 Click Layout if you want to change the layout. The Select Layout
miscellaneous one-time purchases that you have paid for can be window is displayed.
recorded in the Bank Register. The advantage of using the Bank 4 Choose the layout (item, service, professional or miscellaneous) that
Register for this type of purchase is that you can quickly record the you want to use and click OK.
transaction with minimum detail. The Miscellaneous purchase
layout is used by default for purchases entered in the Bank Register.
Step 2: Enter information about the vendor
For more information, see ‘Entering Transactions in the Bank
Register’ on page 53. Regardless of the type of purchase you’re creating, you should pay
special attention to the top section of the Purchases window. The
information you enter here will determine a number of things about
the purchase, including the vendor’s terms for the purchase and the
identification numbers assigned to the transaction.

74 Chapter 5 Entering Purchases MYOB AccountEdge, Version 3 us

 Step 3: Enter the items or services you are
purchasing
The scrolling list in the middle of the Purchases window is where
you enter details of what you are buying. In this area, you’ll enter
A B C D item numbers, descriptions, account numbers (or account names
A Enter the vendor’s name. Click the search icon to display your
depending upon your selection in the Preferences window) and
vendor list. other information that will serve as the detail for your transaction.
B Click the zoom arrow to alter the terms for this purchase only. See When you enter information in one row in the scrolling list, you
the following section.
enter one line item of the transaction. You can enter as many line
C Enter the purchase number here.
items on a purchase as you want. The actual fields that appear in the
D If the vendor gave you an invoice number for this transaction, enter scrolling list differ, depending upon the type of purchase you’re
it here.
creating.

NOTE : Add lines, subtotals and headers to purchases You can

To change your credit terms for this transaction add lines, headers and subtotals to purchases to make it easy to
separate and subtotal different categories of purchases in one bill.
When you enter a vendor’s name in the Vendor field, your
For more information, see ‘Adding lines, subtotals and headers to
company’s credit terms with that vendor appear next to the
purchases’ on page 77
vendor’s name automatically. If you want to change these terms for
this particular transaction, follow the steps below. .

NOTE :Changes affect only the current transaction If you want

to change the credit terms that will be used for all future purchases
from this vendor, you should make that change in the Buying
Details tab of the vendor’s card.

1 Click the zoom arrow next to the Terms field. The Credit Terms
window displays information about the terms for the transaction.

2 Make the changes you want in the Credit Terms window and then
click OK to close the window. The Purchases window is displayed
again, with the new credit terms displayed next to the Terms field.

User Guide Entering Purchases 75

 Item purchase
Step 4: Enter additional information about
the purchase
The actual fields that appear at the bottom of the Purchases
window differ, depending upon the type of purchase you’re
A B C D E F G H I
creating. Click Help in this window for detailed field help.
Service purchase

J K
A B C D E F G
A Received Enter the quantity of the item being received.
A Optional fields Enter optional details, such as a comment,
B Backorder Enter the quantity of the item placed on backorder. shipping method, and the date the goods or
services were promised. Enter text or click the
C Item Number Press TAB and choose an item from your item list. search icon to choose from the Select From List
window.
D Description A description of the item is displayed automatically. You
can change it if you want. B Already Printed or Mark this checkbox if you do not want to flag the
Sent purchase for printing at this stage.
E Price The price of the item is displayed automatically. You can
change it if you want. C Journal Memo The Journal Memo is generated automatically. You
can change it if you want.
F Discount Enter a volume discount you received from the vendor in
percentage form. D Tax If you want to view or change the tax amount of
the purchase, click the zoom arrow.
G Total The total price of the items is calculated automatically.
E Freight Enter any charges for freight. If the freight charge
H Job Enter a job number here to assign a line item to a specific
is taxable, enter a tax code in the field to the right.
job (optional). For more information about jobs, see
‘Setting up Categories and Jobs’ on page 42. F Paid Today Enter an amount here to indicate how much
money you paid at the time of the purchase or, if
I Tx Mark the Tx column if you are paying tax for this line
you’re creating an order, how much money you
item.
gave as a deposit.
J Description On a service, professional or miscellaneous purchase,
G Tax Code If you want to change the tax code assigned to this
enter a description of the goods or services purchased.
purchase, enter a different tax code here.
K Acct # or Name On a service, professional or miscellaneous purchase,
choose the account to which to allocate the purchase.
Press TAB and choose an account from the Accounts List.
For normal purchases, this would be an expense
account.

76 Chapter 5 Entering Purchases MYOB AccountEdge, Version 3 us

Step 5: Complete the purchase If you want to record the purchase as an actual transaction now,
click Record in the Purchases window. If you don’t want to
Now that you’ve finished making entries in the Purchases window,
record the purchase at this time, click Cancel.
there are a number of tasks you can perform with the transaction.
Make sure you review all the following options before you choose
what you want to do. Adding lines, subtotals and headers to
purchases
l Record the purchase. To record the purchase without printing it,
click Record. You can add lines, headers and subtotals to purchases, making it
easy to separate and subtotal different categories of purchases on
l Print and record the purchase. If the purchase you’ve created is an
one bill.
item, service or professional purchase, you can print and record
the transaction at the same time. Click Print in the Purchases
To insert a blank line
window. For more information about printing purchase forms,
see Chapter 12, ‘Printing Forms,’ on page 151. 1 Position the insertion pointer anywhere on the line item above
l Record and e-mail the purchase. You can e-mail the purchase which you want the blank line to appear.
directly from your e-mail application. Click Send To and choose
2 Go to the Edit menu and choose Insert Line.
E-mail. Review and make entries in the E-mail window as
required and click Send. The e-mail will be sent to your default e-
To insert a header
mail application’s Outbox. Send the file from your e-mail
application’s as you normally do. You can group several line items by inserting a header.
l Record and fax the purchase. Click Send To and choose Fax. A 1 Position insertion pointer in the line item above which you want the
dialog box from your fax application is displayed. Send the fax header to appear.
using your fax application as you normally do.
2 Go to the Edit menu and choose Insert Header. A blank line will
l Record and save the purchase to disk as a PDF. You can save the
appear in the scrolling list with the cursor positioned in the
purchase as a PDF (Portable Document Format) file which you
Description column.
can attach to an e-mail. Click Send To and choose Disk. In the
dialog box that is displayed, enter a file name and location for the Type the text for the header. The text appears in gray, as shown
file and click Save. below.
l Save the purchase as a recurring purchase so that you can use it
many times in the future. Click Save Recurring. In the Save
Recurring Template window, enter the necessary information
and click Save Template. (For more information about creating
and using recurring transactions, see ‘Working with Recurring
Transactions’ on page 116.)

User Guide Entering Purchases 77

 To insert a subtotal

1 Position insertion pointer in the the first line below the items to be
To delete a blank line, line item, header or subtotal
subtotaled.
1 Position the mouse pointer anywhere on the blank line, line item,
2 Go to the Edit menu and choose Insert Subtotal. As shown below,
header or subtotal you want to delete.
a line will appear, displaying the subtotal of all the line items above
it. 2 Go to the Edit menu and choose Delete Line.

Changing the Status of a Purchase

You can change the status of a purchase. If you enter a quote or 2 Convert the quote. To do this:
order in MYOB AccountEdge, you can easily convert it to a bill once
l Click Order to convert the quote to an order, or
the amount is payable. The order must be converted to a bill to
l Click Bill to convert the quote to a bill.
show up as a payable. A quote can be changed to an order or a bill.
An order can only be converted to a bill. 3 Review and update the information in the Purchases window as
necessary. Change the transaction date to today’s date.
To convert a quote to an order or bill
4 Click Record. The new bill or order is created in MYOB
You can convert a quote to an order or a bill from the Purchases AccountEdge. The original quote will remain in the Purchases
window or from the Purchases Register. Register unless you have indicated in the Purchases view of the
Preferences window that you want quotes to be deleted once they
1 Locate and display the quote. To do this:
are recorded as orders or bills.
l in the Purchases window, enter the name of the vendor whose
quote you want to convert. Select the quote from the list that is
displayed and click Use Purchase, or
l from the Purchases Register, click the Quotes tab. Find the
required quote using the search filters at the top of the window
and highlight it.

78 Chapter 5 Entering Purchases MYOB AccountEdge, Version 3 us

 To convert an order to a bill To convert several orders to together

You can convert an order to a bill in the Purchases window or from You can convert several orders to bills at once in the To Do List
the Purchases Register. If you want to convert several orders to bills window. Keep in mind that the conversion will occur automatically;
at once, see ‘To convert several orders to together’. you won’t get a chance to review or change any of the transactions
before they’re converted. If you’re not sure you want to convert a
1 Locate and display the order. To do this:
particular order, we suggest you use the Purchases window to
l in the Purchases window, enter the name of the vendor whose make the conversion manually (see ‘To convert an order to a bill’).
order you want to convert. Select the order from the list that is
1 Click To Do List from any command center. The To Do List window
displayed and click Use Purchase, or
is displayed.
l from the Purchases Register, click the Orders tab. Find the
required order using the search filters at the top of the window 2 Click the Orders tab to display a list of all your orders.
and highlight it. If you want to view details about a specific order, click the zoom
2 Click Bill to convert the order to a bill. arrow to the right of the vendor’s name.

3 Review and update the information in the Purchases window as 3 Select the orders you want to convert to bills by clicking the Action
necessary. Change the transaction date to today’s date. column.

4 Click Record. The new bill is created in MYOB AccountEdge and the 4 Click Record as Actual.
original order is removed.

User Guide Changing the Status of a Purchase 79

Reviewing your Purchase Information
An important part of managing your business centers around To view a list of all unpaid purchases, sorted by
collecting your purchase data and understanding its effects on your days overdue
overall financial picture. MYOB AccountEdge contains a number of
You can view a list of all unpaid purchases in the To Do List and
tools that you can use to review your purchase information so you
enter vendor payments for those purchases.
can make better decisions about your business.
1 Click To Do List from any command center. The To Do List window
l The Purchases Register gives you an overall picture of your
is displayed.
purchase activity—open and closed purchases, orders, quotes,
returns, etc. See ‘To find a transaction using the Purchases 2 Click the A/P tab. A list of all unpaid purchases is displayed.
Register’ on page 111.
The Overdue column shows the number of days a payable is
l Find Transactions helps you find individual purchase overdue (a negative number in the Overdue column indicates that
transactions quickly. See ‘To find a transaction using Find the payment is not yet due). The number of days a bill is overdue is
Transactions’ on page 110. calculated by checking the original date of purchase, comparing it
l The To Do List displays all open purchases, recurring purchases to today’s date and looking at your credit terms with the vendor.
and orders, sorted by overdue dates.
3 Click the Action column for each bill you want to pay off. The linked
l The Analyze Payables window can help you understand the “big
Checking Account For Paying Bills will be used for all vendor payments
picture” of your purchase activity graphically. See ‘To analyze
made from the To Do List.
payables’ on page 81.
l Purchase reports help you keep track of your purchase activity. C AUTION :Transactions are recorded automatically If you choose
to make vendor payments by marking the Action column in the To
l The Transaction Journal lists journal entries of your purchases Do List window, keep in mind that the transactions will be recorded
and other transactions. See ‘To find a transaction using the automatically; you won’t be able to change any of the payments
Transaction Journal’ on page 113. before they’re recorded. You can choose to manually enter a
l You can view seven years of purchase history for an item or payment in the Pay Bills window by clicking the zoom arrow next to
vendor for the past five years, the current year and the next year. the transaction. See ‘Paying Bills’ on page 82.

4 Click Pay Bills.

80 Chapter 5 Entering Purchases MYOB AccountEdge, Version 3 us

 To analyze payables To view purchase history for an item or vendor

The Analyze Payables window allows you to view detailed You can view the purchase history for an item or vendor.
information about how much you owe vendors and how long
Display the Item Information window for an item or the Card
you’ve owed them.
Information window for a vendor, and then click the History tab.
This analysis is based upon all bills and payments recorded in your The History tab displays a total of seven years’ purchase history for
company file. the item or card: five past years, the current year and the next year.
For more information, click Help in this window.
1 Go to the Purchases command center and click Analysis. The
Analyze Payables window is displayed.

2 Click Filters and set your filters in the Aging Date window.

3 Display the required view of the Analyze Payables window. The

Summary view displays all the money that you owe vendors,
totalled by vendor. The Vendor Detail view displays all the money
that you owe the vendor whose name appears in the Vendor Detail
field. The Purchase Detail view displays all the transactions
assigned to the purchase that appears in the Purchase Detail field.

The information in this window is based upon the selections you

made in the Aging Periods fields of the Reports & Forms view of
the Preferences window and the entries you made in the Aging
Date window.

To view purchase reports

There are a number of purchase reports in MYOB AccountEdge

which can help you track your purchase activity. For example, you
can run the Payables Aging report if you want to analyze your
payables as of a past date. The Analyze Purchases (Item) report
shows you at a glance the inventory items on which you are
spending the most money.

To view a list of all your purchase reports, go to the Reports menu

and choose Index to Reports. Click the Purchases tab in the Index
to Reports window. For information on displaying, customizing
and printing your reports, see ‘Using Reports’ on page 161.

User Guide Reviewing your Purchase Information 81

Paying Bills
Payments to your vendors are made in the Pay Bills window in the To pay bills
Purchases command center. When you pay bills in MYOB
1 Go to the Purchases command center and choose Pay Bills. The
AccountEdge, you apply the payment to one or more of your
Pay Bills window is displayed.
outstanding purchase balances.
2 Enter the account the will be used to make this payment in the
Paying vendors using the Bank Register While you would
Account field.
normally use the Pay Bills window to pay your vendors, you can
also use the Bank Register window for this purpose. The Bank 3 Mark the Already Printed checkbox if you’re recording a paper
Register is a real time-saver when you have several bills to pay and check that has already been written or if you’re recording another
don’t need to record detailed information (such as discounts and type of transaction (such as a petty cash payment) that doesn’t
finance changes) for each payment. require a printed check at the end of the transaction.

4 Enter the details of the payment, such as the vendor’s name,

The disadvantage of using the Bank Register for vendor payments amount and payee address. If you want to use an alternate address,
is that if you have several outstanding bills with a vendor, you click the Payee down arrow and make a selection, or simply type
cannot conveniently choose the bill you want to pay or split a the address you want to use.
payment between bills—the entire payment is automatically 5 Change the memo and payment date if necessary.
allocated to the oldest bill. (You should use the Pay Bills window for
this type of transaction; see the procedure below.) For more You can change the check number that is automatically generated.
information, see ‘Entering Transactions in the Bank Register’ on However, we recommend that you use the default number to
page 53. ensure you don’t use duplicate check numbers.

NOTE : If you receive an alert message If you have outstanding

debit memos with this vendor, a message is displayed. You’ll have
the opportunity to settle the debit memos immediately or at a later
date. See ‘Settling vendor debits’ on page 85.

82 Chapter 5 Entering Purchases MYOB AccountEdge, Version 3 us

6 Indicate which bills will be affected—what debt will be reduced or 7 Decide what you want to do with the payment.
“paid off”—by the payment. Make these entries in the scrolling list
l To print and record the payment, click Print. For more
in the bottom half of the Pay Bills window.
information about printing forms, see ‘Printing Forms’ on
page 153.
l To record the payment, click Record.
If you want, you can print this payment later. For more
information, see ‘Printing Forms’ on page 151.

A B C D What are Finance Charges?

A Discount If you taking an early-payment discount for a Finance charges are amounts added to an outstanding balance as a
purchase, assign the discount to the appropriate
bill in this column. Note that MYOB AccountEdge penalty for late payment. If your vendor has added a finance charge
won’t allow you to assign a discount to a bill that to your account, you can enter the payment to cover that charge in
you are not settling in full. If this is the case and you
the Pay Bills window.
want to record a discount that the vendor has
given you, you can create a vendor debit. See
To use finance charges in MYOB AccountEdge, set up the linked
‘Creating Vendor Debits’ on page 84.
account for tracking late payment charges in the Accounts
B Amount Applied Enter how much of the payment you want to apply
to each bill in this column.
Payables Linked Accounts window (go to the Setup menu, choose
Linked Accounts and then Purchases Accounts).
C Finance Charge If part of the payment was used to pay finance
charges, enter the finance charge amount here. If you have paid the late payment charge, enter it in the Finance
D Out of Balance Keep in mind that the amount(s) you apply in the Charge field in the Pay Bills window.
Amount Applied column will accumulate in the
Total Applied field. The Total Paid amount must Although MYOB AccountEdge does not track the history of finance
equal the amount that appears in the Amount
charges, you can perform an account inquiry (using Find
field in the top half of the window before you can
record the transaction. The Out of Balance Transactions) on the finance charge linked accounts to view the
amount must be zero before you can record the amounts paid.
transaction.
Deleting Finance Charges
When you enter a finance charge in the Pay Bills window, two
transactions are recorded—the payment and a corresponding
transaction in the Purchases Journal.

Therefore, if you want to delete a finance charge payment, you

must delete both transactions. If only one entry is deleted, the
Payables Reconciliation report may show an Out of Balance
amount equal to the finance charge. When you delete one of the

User Guide Paying Bills 83

 entries, you will be reminded to delete the other entry for the
finance charge. Note that the warning will appear even though you
may have already deleted the corresponding payment.

Creating Vendor Debits

In MYOB AccountEdge, a vendor debit is a transaction that indicates 2 Go to the Edit menu and choose Reverse Purchase. After a few
that a vendor owes your company money. moments, a vendor debit will be displayed in the Purchases
window.
Recording vendor debits 3 If you want, you can make a few changes to the vendor debit (such
When you’re creating a vendor debit for the first time, you may as the date and memo), but you can’t change the accounts,
have to create an account designated for tracking returns and amounts and quantities that are associated with the debit.
allowances. Make sure the new account is an income account. See 4 Click Record Reversal.
‘To add new accounts to your Accounts List’ on page 103 for more
information on creating an account. To manually create a debit
You can create a vendor debit in one of the following ways:
You create a debit differently for non-item purchases versus item
l Reverse an existing purchase. Use this method if you are reversing purchases.
the entire original purchase.
NO N - I T EM P U RCH AS ES
l Manually create a debit.
Choose this method if you want to create a vendor debit for a non-
To reverse an existing purchase item purchase that you returned.

Use this method if you want to create a vendor debit for the entire 1 Go to the Purchases command center and choose Enter
purchase and not just a part of it. Note that your company file must Purchases. The Purchases window is displayed.
be set to “unchangeable” before you can reverse a purchase; that is, 2 Choose the required status and layout for the purchase.
the Transactions CAN’T be changed; they must be reversed
preference must be set in the Security view of the Preferences 3 Enter the vendor details and debit details, and select the account
window. number to be debited. This is normally an expense account called
Purchases Returns. Enter the amount of the debit as a negative
1 Find and display the bill. See ‘Finding a Transaction’ on page 110. amount.

4 Click Record.

84 Chapter 5 Entering Purchases MYOB AccountEdge, Version 3 us

 IT E M P U RC HAS E S 5 Enter the amount you want to apply in the appropriate field in the
1 Go to the Purchases command center and choose Enter Purchases. Amount Applied column.
The Purchases window is displayed.
If you marked the Apply Bill Payments Automatically to Oldest Bill
2 Choose Item as the layout and enter the vendor details. First preference in the Purchases view of the Preferences window,
amounts will appear next to the oldest bill in the Amount Applied
3 Enter negative quantities for the items you are returning in the
column at the top of the scrolling list. MYOB AccountEdge is
Received column. The cost of the items are displayed as negative
suggesting that you apply the debit to your oldest open purchases;
amounts.
however, you can apply the debit amount to any one
4 Click Record. transaction—or you can divide it among many transactions—in the
list. Keep in mind, however, that the total amount you apply in the
Settling vendor debits Amount Applied column must equal the amount that appears in
the Debit Amount field.
You can choose from two ways of settling a vendor debit:
6 Enter an amount in the Finance Charge field only if you want to apply
l By applying the vendor debit to one or more of your unpaid
part of the vendor debit to any unpaid finance charges you may have
purchases with the vendor, or
accrued.
l By recording a refund check from the vendor for the amount of the
vendor debit. 7 If the vendor gave you a discount for a particular purchase, enter
the amount in the purchase’s Discount column.
To apply a vendor debit to an unpaid purchase 8 Click Record.
Follow the steps below to locate the vendor debit you want and If the transaction is unbalanced, that is, if the total amount
then apply the debit to one or more of your unpaid purchases. entered in the Amount Applied column doesn’t equal the
amount displayed in the Debit Amount field at the top of the
1 Go to the Purchases command center and click Purchases
window, a message will be displayed. Click OK to close the
Register. The Purchases Register window is displayed.
message. Then check that the amount you have applied to the
2 Click the Returns & Debits tab. various transactions is correct.
If you change the amount in the Debit Amount field, keep in
3 Click the Search by down arrow and choose Vendor. Enter the
mind that you can only enter an amount less than the original
vendor name in the adjacent field. A list of debits for that vendor is vendor debit amount. If you choose to do this, the vendor debit
displayed. won’t be fully applied; the remaining amount will continue to
4 Highlight the debit you want to apply and click Apply to Purchase. appear as a debit.
The Settle Returns & Debits window is displayed, listing all open 9 Click Record to apply the vendor debit.
purchases that you’ve made from the vendor.

User Guide Creating Vendor Debits 85

 To receive a refund check

1 Go to the Purchases command center and click Purchases

Register. The Purchases Register window is displayed.

2 Click the Returns & Debits tab.

3 Click the Search by down arrow and choose Vendor. Enter the
vendor name in the adjacent field. A list of debits for that vendor is
displayed.

4 Highlight the debit that is being refunded and click Receive

Refund. A refund transaction for the amount of the vendor debit is
displayed in the Settle Returns & Debits window.

5 If necessary, make changes to the information in the window.

If you change the amount in the Amount Received field, keep in

mind that you can only enter an amount less than the original
vendor debit amount. If you choose to do this, the vendor debit
won’t be fully applied; the remaining amount will continue to
appear as a debit.

6 Click Record to record the receipt of the refund check.

86 Chapter 5 Entering Purchases MYOB AccountEdge, Version 3 us

Chapter 6
Managing In Chapter 2, ‘Setting Up Your Company File,’ on page 19, we looked at creating and
working with inventory items. If the items you created are marked I Inventory This
Item, you are using what accountants call the Perpetual inventory system and this

Your chapter is for you.

The Perpetual inventory system keeps track of your items; so you can track how many

Inventory
goods are in stock, how much are they worth, from whom did you buy and to whom did
you sell?

From time to time, businesses running a Perpetual inventory system may find that their
theoretical inventory levels differ from what is on the shelves. These variations can be
caused by data entry errors, spoilage and theft and, if common, should be investigated.
This chapter shows you how to compensate for inventory variations.

Sometimes the quantity of items recorded in MYOB AccountEdge may be correct, but their
values are incorrect. A range of items may become outdated, damaged or for some other
reason lose value. This chapter shows you how to revalue your stock.

Many retailing and manufacturing businesses combine existing inventory items to create
new inventory items. For example, a retailer may combine a bottle of perfume, lotion and
bath salts and make up a gift pack. Manufacturers combine raw materials to create new
inventory items. This chapter shows you how to track your inventory transfers and
automate the transfers using the Auto-Build features.

87
Making Inventory Adjustments
From time to time you may need to adjust item quantities and To make an inventory adjustment
values. For example, if your inventory gets damaged, you may have
1 Go to the Inventory command center and click Adjust Inventory.
to write off some of your inventory or revalue it. When this happens,
The Adjust Inventory window is displayed.
it’s important that you make your adjustments in MYOB
AccountEdge carefully so that your records remain accurate. 2 Enter details of the adjustment. For complete field help, click Help.

Follow the procedure below to make a one-time adjustment for a

single item or a few items using the Adjust Inventory window.

However, if you need to update the quantities of several items, you

can do it quickly from the Count Inventory window. See ‘Counting
Inventory’ on page 93.

N OTE :Print the Items List (Summary) report When making an A B C D

an inventory adjustment, you may find it useful to print out the
A Enter the quantity by which you want to increase or decrease the quantity
Items List (Summary) report, which gives you the on-hand
held. Do not enter the new total quantity; enter only the adjustment
quantities of all your items. You can then determine what the quantity.
adjustment should be. Enter the quantity in inventory units, not buying or selling units.
If you enter a positive number, that number is added to your on-hand
inventory. If you enter a negative number, that number is subtracted from
your on-hand inventory.

B The cost of each unit transferred in or out of inventory is entered here. The
average cost of the item is displayed by default. The average cost is
calculated as the total cost of the item divided by the number of units on
hand.

C The Amount field displays the quantity multiplied by the unit cost. If you
change it, the unit cost is automatically recalculated.

D The allocation account is usually a cost of sales or expense account if you

are increasing or decreasing the value of the Inventory account.

88 Chapter 6 Managing Your Inventory MYOB AccountEdge, Version 3 us

3 If you want to assign the transaction to a particular category, click to the Inventory adjustment account (Shrinkage & Spoilage). The
the search icon to select a category from the Category List. average cost of the items will increase as a result of this adjustment.

For more information about categories, see ‘Setting up Categories’

on page 43.

4 Click Record to save the inventory adjustment.

The following are some examples of inventory adjustments.

Example 1 In the following example, the inventory adjustment

will increase the number of units on hand by two and the total value
of the item on hand by $800. The adjustment has been allocated to
the Inventory adjustment account (Shrinkage & Spoilage).

Example 2 In the following example, the inventory adjustment

will increase the quantity of the item by two units but will not adjust
the total value of the item on hand. That will reduce the average
cost of the item. An account is not required in this case as there is no
adjustment to the balance of the inventory account.

Example 3 In the following example, the inventory adjustment

will increase the total value of the item on hand by $120 but will not
change the inventory quantity. The adjustment has been allocated

User Guide Making Inventory Adjustments 89

 Making Inventory Transfers
In MYOB AccountEdge, transferring inventory is the process of B Enter the transfer quantity. Enter a positive number for the finished item
taking one or more items, known as components, and combining (this number is added to your on-hand inventory). Enter a negative
them to make up another item, known as a finished item. For number for the component items (this number is subtracted from your on-
hand inventory).
example, you could create an inventory transfer to turn
C Enter the cost of each unit transferred in or out of inventory. MYOB
components like timber and fabric into finished items like furniture.
AccountEdge defaults to the average cost of the item. The average cost is
Alternatively you could create a kit composed of a number of calculated as the total value of the item divided by the number of units on
articles. hand.

D The Out of Balance field must be zero before you can record the
Use the Transfer Inventory window for a one-time transfer of transaction. That is, the amount in the Amount field for the finished item
stock. For routine transfers, use the Auto-build feature. See ‘Auto- must be equal to the sum of the amounts in the Amount field for the
building Items’ on page 91. components.

1 Go to the Inventory command center and click Transfer

3 If you want to assign the transaction to a particular category, click
Inventory. The Transfer Inventory window is displayed.
the search icon to select a category from the Category List.
2 Enter the line items for the finished item and for the components.
For detailed field help, click Help in this window.

For more information about categories, see ‘Setting up Categories’

on page 43.

4 Click Record to save the inventory transfer.

A B C

A On one line, enter the item number of the finished item you want to
create. On the next lines, enter the item numbers of the component items
you want to transfer.

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 Auto-building Items
Transferring inventory is a simple process if you choose to 5 Click Edit List. The Auto-Build Information window is displayed.
automatically build finished items using MYOB AccountEdge’s
Auto-build inventory feature.

There are two stages:

l See ‘Create a new Auto-Build item’ below to specify the

components required.
l See ‘Auto-build a finished item’ on page 92 to quickly create
finished items.

Step 1: Create a new Auto-Build item

1 Go to the Inventory command center and click Items List. The
Items List window is displayed.

2 Click the zoom arrow of the item you want to Auto-Build. The Item 6 Specify the number of item units the listed components will make in
Information window is displayed. the List what it takes to build field. If bulk quantities of materials
3 Click the Auto-Build tab. are purchased to build an item, it may be easier to specify the
materials required to build a larger quantity of the item, such as ten
4 Enter the minimum level of the item you want to have in inventory or twenty.
before you re-order (or re-construct) the item in the Minimum
Level for Restocking Alert field. 7 Enter the item details of each of the components.

a Click in the Item Number column and press TAB. Your Items List
is displayed.
b Highlight the first item required to build the new finished item
and then click Use Item. The item number and name are dis-
played in the Auto-Build Information window.
c In the Quantity field, enter the number of components required
to build the specified quantity of the finished item.

8 Repeat the previous step for each of the components required to

build the new item. Click OK when you have entered them all.

User Guide Auto-building Items 91

9 Click OK in the Item Information window. 3 Click Record to record the inventory transfer and update your
inventory quantities and values.
Step 2: Auto-build a finished item You can also auto-build items using the To Do List. In the MYOB
1 Go to the Inventory command center and click Auto-Build. The Help, choose Inventory > Transferring Inventory > click Auto-building
Auto-Build Inventory window is displayed. items.

B
A
D

A This column displays all items that you've designated as finished items.

B The On Hand, On Order and Net on Hand columns show the current
record of your finished items.

C Enter the quantity of finished items you want to build in this column.
(Click None if you want to change all numbers in the Qty to Build column
to zero).

D Click Build Items to begin creating an inventory transfer for the items for
which you've made an entry in the Qty to Build column.

2 When you click Build Items, the Transfer Inventory window

displays the details of the transfer that will occur when the finished
item is built. Review the entries in this window to make sure the
quantities, unit costs, and total inventory values are correct. Note
that the quantities of the components in the list are displayed as
negative numbers, while the quantities of the finished items in the
list are shown as positive numbers.

92 Chapter 6 Managing Your Inventory MYOB AccountEdge, Version 3 us

Counting Inventory
You may recall entering your opening inventory quantities using the To count inventory
Count Inventory window when you set up your company file.
1 Go to the Inventory command center and click Count Inventory.
You can also use the Count Inventory window to make
2 In the Count Inventory window, enter the actual quantities of the
adjustments to item quantities during regular inventory counts or
inventory items in the Counted column. Any discrepancy between
any time you find discrepancies between the actual quantity of
the counted quantity and the on-hand quantity is displayed in the
items you have in inventory and your MYOB AccountEdge records
Difference column.
of those quantities.
3 Click Adjust Inventory to display the Adjustment Information
The Count Inventory window will speed the process of updating
window.
the quantities of items. By using this window, you can quickly create
one inventory adjustment for all the items whose quantities you You can specify a default allocation account with which you can
need to change. track the adjustments you entered in the Count Inventory window.
This saves you having to enter an account on every line of the
Each inventory adjustment you make must be allocated to a specific
inventory adjustment. This account is normally an expense account
account so your accounting records accurately reflect the reasons
such as shrinkage. It should not be your inventory asset account.
why your inventory needed adjusting. For example, many
businesses use one account—often called Keep in mind, however, that you don’t need to enter a default
“Shrinkage/Spoilage”—to track natural loss or theft of their items. allocation account in the Adjustment Information window. If it’s
necessary for you to use different accounts to track the adjustments
Before you count inventory in MYOB AccountEdge you made in Step 2, you’ll get the chance to enter those accounts in
the next step.
l Make sure you record any inventory transfers before counting
your inventory. Otherwise, missing inventory that was really used 4 Click Continue. The Adjust Inventory window is displayed. A line
to build another item will be accounted for as an expense, such item for each adjustment you entered in the Count Inventory
as loss or shrinkage. See ‘Making Inventory Transfers’ on page 90 window in Step 2 is displayed.
for more information. 5 Take a look at the Account column. If you entered a default
l Count the actual items in your inventory. You can use the allocation account in Step 3, that account appears in the Account
Inventory Count Sheet report, which lists all your inventory column for each line item. If you didn’t enter a default allocation
items, for this purpose. account, enter the accounts you want to use to track each item’s
change in quantity. Click Record.
NOTE : You can either print the Inventory Count Sheet by clicking
Print in the Count Inventory window or, if you want to set filters,
from the Index to Reports window.

User Guide Counting Inventory 93

Reviewing your Inventory Information
Managing inventory can be a time consuming task for a business if l You can view sales and purchase history for an item or vendor
accurate and complete records are not kept. It is important to be for the past five years, the current year and the next year. See ‘To
able to review and explain item movements over time, for example view sales and purchase history for an item’ on page 95.
purchases and sales, as well as manual transfers and adjustments
that are made due to shrinkage, spoilage or theft. You also need to To view a list of all items that need to be built or
be able to see quickly what you have and what you need to meet purchased
customer orders.
The Stock Alert view of the To Do List lists all items that need to be
MYOB AccountEdge contains a number of tools that you can use to built or purchased to fulfill customer orders and it enables you to
review your inventory information so you can make better decisions easily enter the necessary orders or Auto-Build transactions.
about your business.
1 Click To Do List from any command center. The To Do List window
l The Items Register gives you an overall picture of your inventory is displayed.
transfers, adjustments, sales and purchases for all items, or it can
2 Click the Stock Alert tab. A list of all items that need to be ordered
be filtered to show the history of a single item. See ‘To find a
or built is displayed. The On Hand column shows the quantity of
transaction using the Items Register’ on page 112.
the item actually on hand. The On Order column shows the
l Find Transactions helps you find individual inventory quantity of this item already on order. The Committed column
transactions quickly. See ‘To find a transaction using Find shows the quantity of this item on backorder for customers.
Transactions’ on page 110.
3 Click the Action column for each item you want to build or order.
l The To Do List displays an alert for all items that need to be
When you click Order/Build, an order will automatically be entered for
purchased or built. See ‘To view a list of all items that need to be
the items that are purchased. The restocking information entered in the
built or purchased.’
Buying Details view of the Item Information window is used to
l The Analyze Inventory window can help you understand the
determine the vendor and quantity to order (see ‘To create an item’
“big picture” of your itemorders and commitments easily. See ‘To
on page 37) or the items to build.
analyze inventory’ on page 95.
l Inventory reports help you keep track of your item quantities C AUTION : Transactions are recorded automatically If you choose
to build or order items by marking the Action column in the To Do
and value. See ‘To view inventory reports’ on page 95.
List window, keep in mind that the transactions will be recorded
l The Transaction Journal lists journal entries of your inventory automatically; you won’t be able to change any of the details before
adjustments and other transactions. See ‘To find a transaction they’re recorded. You can choose to manually enter an order or
using the Transaction Journal’ on page 113. Auto-Build transaction by clicking the zoom arrow next to the item.

4 Click Order/Build.

94 Chapter 6 Managing Your Inventory MYOB AccountEdge, Version 3 us

 To analyze inventory To view sales and purchase history for an item

The Analyze Inventory window allows you to view detailed Display the Item Information window for an item and then click
information about how much stock you have on hand, what is the History tab. The History tab displays a total of seven years’
committed, on order and available. purchase and sales history for the item: five past years, the current
year and the next year. For more information, click Help in this
This analysis is based upon all the sales orders and purchase orders
window.
recorded in your company file.

1 Go to the Inventory command center and click Analysis. The

Analyze Inventory window is displayed.

2 Display the required view of the Analyze Inventory window. The

Summary view displays all inventoried items, while the Item# view
displays all the customer and vendor orders for a selected item.

To view inventory reports

MYOB AccountEdge has several reports which you can generate to

keep track of your inventory. Following is a list of some of the
reports you may find useful. For information on finding,
customizing and printing reports, see ‘Using Reports’ on page 161.

l Analyze Inventory report. The summary and detailed versions

of this report serve as your ‘order book.’ You can view a list of all
your sales orders and purchase orders for all or selected items.
l Items List (Summary) report. This report shows information
about your items, including their on-hand quantities and total
value. The Items List (Summary) report also shows an item’s
current average cost price, which is important to know when
making inventory adjustments. You can use this report to
compare your total inventory value to the total of your Inventory
asset accounts.
l Pricing report. This report lists your item prices—useful for
sending to your customers. You could also convert this report to
HTML and post your price list on an intranet or Internet site.

User Guide Reviewing your Inventory Information 95

 Setting Item Prices
You can quickly change the default selling prices of the items you MYOB AccountEdge accepts unit prices up to four decimals. On the
sell using the Set Item Prices window. invoice, it multiplies the unit price by the quantity sold before
rounding to cents.
You can still change prices at the point of sale, which will override
the default price for that sale only. 3 Click OK.

Average Cost and Last Cost To change the price of multiple items at once

Average Cost is calculated by MYOB AccountEdge as the total cost You can change the prices of multiple items at once using pricing
of the item (what you paid when you purchased the item or the cost shortcuts.
entered when you transferred the item into inventory) divided by
1 Go to the Inventory command center and click Set Item Prices.
the number of units on hand.
The Set Item Prices window is displayed.
Last Cost is the purchase price on the most recent purchase. If the
2 Mark the Shortcut column next to the items whose prices you want
most recent item activity is an inventory transfer, the unit transfer
to update. If you want to update the prices of all your items, you can
cost is used.
leave the Shortcut column blank.
Note that you cannot adjust prices based on a markup of the
3 Click Shortcuts. The Pricing Shortcuts window is displayed.
current selling price—for example, a 10 percent increase on the
current selling price. 4 Make as many entries as you want in this window, including how
you want the price rounded, the basis for calculating the price, and
To change the price of items so on. For detailed field help, click Help.

1 Go to the Inventory command center and click Set Item Prices. 5 Click Update x Items Only to update the items you marked in step
The Set Item Prices window is displayed. 2.

This window lists all your current inventory items, their current
price, and the average or last cost of each item.
If an item is not listed, it means that you haven’t marked the I Sell
option for the item.

2 Click in the Current Price column of an item and enter a new price.
Do this for each item price you want to change.

96 Chapter 6 Managing Your Inventory MYOB AccountEdge, Version 3 us

Customizing Inventory
MYOB AccountEdge has three features that allow you to specifically NOTE :Volume Customer Discount Note that the Volume Customer
customize how you record information and prices for your Discount for each customer in the Card File applies to a sale over and
inventory: above the quantity break price levels you set up.

l Custom price levels, which you can use to assign a price level Setting custom price levels includes the following steps:
(one of six) to a customer for purchases of five different quantities l Naming your price levels
of the item. There are six price levels for each of the five quantity
l Specifying price levels for an item
breaks. For example, you might have quantity breaks of five, ten,
l Assigning a price level to a customer
twenty, fifty and hundred. For each of these breaks, you can set
six different price levels for your customers.
To name your price levels
l Custom fields, which you can use to ensure certain information
is always recorded for an item, such as Warranty, Warehouse 1 Go to the Lists menu, choose Custom Lists and Field Names and
Location and Voltage. These should be used for information that then Price Levels.
you don’t need to use as report filters. 2 Enter names for each of the price levels as you want them to appear
l Custom lists, which you can use to record information about an in the Selling Details tab of the Item Information window. Click
item and then be able to run reports per custom list. For OK.
example, if you are running a trailer rental business, you might
have custom lists of ‘Color,’ ‘Type,’ and ‘Location.’ This means To specify price levels for an item
you could run a report to include only blue cage trailers at the
1 Display the Item Information window for the item and click the
Main Street station. Selling Details tab.
The Base Selling Price you entered for this item in the upper section
Creating custom price levels of the Selling Details tab appears at Level A (or whatever you have
MYOB AccountEdge has a pricing matrix for handling inventory. chosen to label this field).
Using five quantity breaks and six price levels, you can structure
2 In the remaining fields (Levels B to F, or whatever you have chosen
your pricing according to customer status and sales quantities. This
to label them), enter the selling price of this item. Make an entry for
gives you full control of giving discounts to customers for bulk sales
each price level you want to use. For detailed help, click Help.
of an item.
In the next Over field, enter the new quantity break, where for sales
For example, a level three customer might pay $140 for a single
of this quantity and above, you assign different price levels. Assign
quantity of the item, but if they purchased five units of the item,
they would only have to pay $100 each for them. the different price levels for this quantity break.

User Guide Customizing Inventory 97

3 Continue to enter up to five quantity breaks, for each of which you
can enter up to six price levels. Note that each quantity break must
specify a quantity greater than the previous quantity break and less
than the next.

To assign a price level to a customer

1 Display the customer’s Card Information window and click the

Selling Details tab.
2 Enter the price level you want to assign to the customer in the Item
Price Level field.

You can assign one of the six price levels or the item’s Base Selling
Price to the customer.

3 Click OK.

Creating custom fields

The three custom fields are an optional feature of MYOB
AccountEdge inventory that are used simply to record additional
information about your items. Unlike custom lists, custom fields
cannot be used to filter inventory reports. Examples of how you
might name the custom fields include ‘warranty,’ ‘warehouse
location,’ and ‘manufacturer.’
1 Go to the Lists menu and choose Custom Lists and Field Names
and then Items.
2 Enter the new field names in the Name of Custom Field fields and
click OK. These field names will now appear in the Item Details tab
of the Item Information window, for all items.
You can customize your invoices and purchases to include the
custom fields on your purchases and invoices. For more information
on customizing forms, see ‘Customizing Forms’ on page 155.

98 Chapter 6 Managing Your Inventory MYOB AccountEdge Version 3 us

 Creating custom lists To assign a custom list entry to an item
MYOB AccountEdge allows you to create three custom lists that you 1 Display the Item Information window for the item and click the
can use to sort and group your inventory items. Item Details tab.
An example of a custom list might be ‘Color,’ in which you create 2 Click the search icon next to a custom list and choose the required
list entries of ‘yellow,’ ‘red,’ ‘green’ and ‘blue.’ When you create or entry.
edit your items, you can assign them one of these colors. When you
run an Inventory report such as the Analyze Inventory (Summary)
Custom lists and inventory reports
report, you can choose to include only red items in the report.
MYOB AccountEdge allows you to generate reports using your
Creating custom lists includes the following steps:
custom lists as report filters. This means that you can generate a
n Naming the custom list report to include only those items with a certain list entry, such as
n Creating custom list entries the color red. For more information on setting report filters, see
n Assigning a custom list entry to an item ‘Filtering reports’ on page 163.

To name the custom list

Printing custom lists on your purchases and
1 Go to the Lists menu, choose Custom List and Field Names, and invoices
then Items. You can customize your invoices and purchases to include custom
2 Enter names for each of the three custom lists in the appropriate lists. See ‘Printing Forms’ on page 151 for more information on
fields and click OK. These custom list names will now appear in the customizing and printing forms.
Item Information window.

To create custom list entries

1 Go to the Lists menu, choose Custom Lists and then Items. The
Custom Lists window is displayed.

2 Click the Custom List drop-down menu and choose the list for
which you want to make entries.

3 Click the New button and enter the name of the list entry. For
example, if you have a Color list, you would enter a color, such as
Yellow.

4 Repeat Step 3 until you have created all your list entries, and then
click OK.

User Guide Customizing Inventory 99

100 Chapter 6 Managing Your Inventory MYOB AccountEdge, Version 3 us
Chapter 7
Working MYOB AccountEdge’s system of lists is like your address book or your schedule and can,
along with your transactions, be your research assistant. By lists we mean MYOB
AccountEdge’s system of organizing cards, accounts, jobs, payroll categories, items, tax

With Lists codes, time billing activities, currencies and categories. These lists can be accessed from
the Lists menu and from the command center from where you would be most likely to use
them. For example, the Items List is available from the Inventory command center.

Lists streamline the repetitive tasks of keeping your accounts by creating records that you
can use time and time again. For example, the customer, item, tax code and account you
use to record a sale can be used as many times as you need. Lists also allow MYOB
AccountEdge to keep track of the companies that owe you money, the items you have sold,
and the tax codes being used.
If you create vendor and customer cards, you can use MYOB AccountEdge’s contact log
system (see Chapter B, ‘More Tools for Managing Your Business,’ on page 201) to keep a
detailed record of all your dealings with your business contacts. For example, you can
record sales and purchase information, notes about conversations and more within the
contact logs.

MYOB AccountEdge’s lists can be easily edited and modified to suit your own
requirements. For example, you can modify account and job levels to affect how they
appear in reports. You can also inactivate records you don’t use frequently to keep your lists
short and up to date.
Lists can greatly assist your marketing efforts. For example, you could use a combination
of customer lists, identifiers, contact logs and e-mail addresses to create a list of customers
who live near you and have contacted you within the past six months. You could then use
MYOB AccountEdge to create an Adobe Acrobat PDF file of your current price list and e-
mail or fax it to these customers. The marketing possibilities are almost limitless.

101
 Adding a New Record
Lists are made up of individual records. For example, each item in l Picture, which allows you to link a PICT file to a card. See ‘Linking
your Items List is a record, as is each job in your Jobs List. You can a picture to a record’ on page 202.
add as many records as you want to a list. l Custom lists and fields lets you record additional information
about a card that may be specific to your business. See
Adding a new card ‘Recording additional information about your cards’ on
page 202.
When you set up your company file, you created cards for your
existing customers, vendors and employees using the Easy Setup
Assistant. Adding a new account

You can add any number of new cards to your Card List any time When you set up your company file using the Easy Setup Assistant,
you want. In addition to customer, vendor and employee cards, you you reviewed your Accounts List and perhaps created some new
can also create personal cards for your friends and relatives. accounts.

The procedure for creating a card from the Card File command If your business requires any additional accounts, you can add them
center is very similar to creating a card using the Easy Setup to your Accounts List any time you want from the Accounts List
Assistant. window. The procedure for creating an account from the Accounts
List window is very similar to creating an account using the Easy
To add a new card to your Cards List Setup Assistant.

1 Go to the Card File command center and click Cards List. The
Cards List window is displayed.

2 Click New. The Card Information window is displayed.

3 Choose the required card type—Customer, Vendor, Employee or

Personal.

4 Complete the fields in the relevant tabs in this window. For detailed
field help on creating a card, click Help in each tab.

You may want to take advantage of the following optional, but

useful, features in the Card Details tab:
l Identifiers, which are useful for grouping your cards and limiting
information you view for that group. See ‘Organizing your cards’
on page 202.

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 To add new accounts to your Accounts List To create a new record using Easy-Add

1 Go to the Accounts command center and click Accounts List. The Let’s assume you want to add a customer card while entering a sale.
Accounts List window is displayed.
1 In the Sales window, click the search icon next to the Customer
2 Click New. The Account Information window is displayed. field. The Select from List window is displayed, with a list of your
customer cards.
3 Enter information about the new account. For detailed field help,
click Help. 2 Enter the name you want to add in the Look for field and click
Easy–Add. The customer card is added to your Cards List. You can
Adding other records now proceed to complete your task with the new card.

If you want to add: 3 Whenever you have time, go to the Card Information window and
enter the rest of the customer details.
l an item, see ‘To create an item’ on page 37. The procedure for
adding new items to your Items List is the same as for creating Easy-Add is not available from some transaction windows such as
item records during setup. Spend Money where MYOB AccountEdge cannot predict the type
l a tax code, see ‘To create a tax code’ on page 35. of card (vendor, employee, etc.) that you want to create.

l a job, see ‘To create a job’ on page 44.

l a category, see ‘To create a category’ on page 43
l a payroll category, see ‘Creating Payroll Categories’ on page 120.
l a time billing activity, see ‘To create an activity’ on page 134.
l a foreign currency, see ‘Set up records for foreign currencies’ on
page 142.

Adding records using Easy–Add

You can create new records easily using Easy Add. Accounts and
customer, vendor, employee and personal cards can be added to
your lists on the fly as you perform your daily business tasks in
MYOB AccountEdge.

User Guide Adding a New Record 103

Finding a Record
Records are stored and displayed in lists. For example, the Jobs List or card ID instead. The record that most closely matches your entry
window lists the jobs you have created, the Accounts List, your will be highlighted in the list.
accounts, and so on. As lists get long, it can take time to locate a
record. MYOB AccountEdge provides you with the following tools
to quickly find a record.

Tabs Some lists are divided into separate views or tabs. For
instance, the Accounts List is divided by account type into eight
tabs, making it easier for you to find an account. For example, if you
are looking for an Asset account, click the Assets tab. Within the
tab, you can use the scroll lists to find the record.

Search fields The Cards List and Items List have a Search field
that you can use to locate a record quickly. Simply type a few
characters of the card name or item number in the Search field. If
you have specified in the Preferences window that you want to
select items by item name and cards by card ID, enter the item name

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Advanced Search filters search. The Cards List will display only those cards that fit your
selection criteria.
You can use advanced search filters such as recontact date and ZIP
code to search for a single card or a group of cards. In the Cards List
window, click Advanced. Enter the relevant filters to narrow your

Changing a Record
In MYOB AccountEdge, you can easily and conveniently update To make changes to a record
information you initially entered for your records. For example, you
1 Display the list to which the record belongs. For example, if you are
can update contact details for a card or the selling price of an item
making changes to an account, display the Accounts List window;
by simply displaying the record and typing in the changes.
if you are changing a tax code, display the Tax Code List window,
You can make changes to information you recorded for your and so on. You can do this by using the Lists menu.
accounts, cards, items, payroll categories, tax codes, time billing
2 Locate the record you want to change in the list. Use a search
activities, foreign currencies, reporting categories and jobs.
method described in ‘Finding a Record’ on page 104, if necessary.
NOTE : Making changes to records that have been used in
transactions Some restrictions apply when making changes to 3 Once you locate the record, click the zoom arrow next to it. The
records that have been used in transactions. For example, if you’ve record details are displayed in the Information window.
recorded sales or purchases with an item, you won’t be able to clear
4 Make the required changes and click OK.
the I Buy This Item, I Sell This Item or I Inventory This Item
checkboxes. If you want to change these selections, you’ll first need
to remove the transactions to which the item is assigned.

NOTE : Making changes to payroll categories Keep in mind that

when you change a payroll category, you change the payroll
category for all employees who are assigned that payroll category.
Most likely, the employees’ paycheck amounts will be different after
you change their payroll categories. You may find it easier to create
a new payroll category and assign it to the employees concerned
rather than change an existing category.

User Guide Changing a Record 105

 Deleting a Record
You can delete a record that you no longer need. However, a record Deleting other records
must meet certain criteria before it can be deleted. For example,
Note the following before deleting cards, items, tax codes, payroll
most records cannot be deleted if they have been used in
categories, time billing activities, foreign currencies, reporting
transactions.
categories and jobs. You can only delete the following...

Deleting an account l A card, item, tax code, payroll category, foreign currency or job
that has not been used in a transaction. You need to delete the
You can remove an account from the MYOB AccountEdge system if transactions before you can delete the record.
the account meets the following criteria:
l A card that has not been used in a quote, order or recurring
l The account isn’t a Level 1 account. template.
l The account has a zero balance. l A foreign currency record that has not been linked to a card.
l No journal entries are assigned to the account. l An item that is not in inventory.
l None of your recurring templates use the account. l Payroll categories with a zero balance. The Base Salary and Base
l The account isn’t used as a linked account for any transaction Hourly wage categories cannot be deleted. Wages, deductions,
types. accruals and employer expenses that have been recorded on
l The account isn’t linked to any of the items you’ve entered in the current paychecks—that is, paychecks that have been recorded
Item Information window. in the current payroll year—can’t be deleted.
l An activity when all the activity slips you’ve recorded for it have
To delete an account been purged.
l An activity slip, when the Time Billing invoice on which it was
1 Make a backup of your company file.
billed is deleted or purged.
2 Go to the Accounts command center and click Accounts List. The
Accounts List window is displayed. To delete other records
3 Click the zoom arrow next to the account you want to delete so that 1 Display the list to which the record belongs to. For example, if you
the account details are displayed in the Account Information are deleting an item, display the Items List window; if you are
window. deleting a card, display the Cards List window, and so on. (If you
are deleting an activity slip, display the View Activity Log window.)
4 Go to the Edit menu and choose Delete Account.
You can do this by using the Lists menu or from the appropriate
command center.

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2 Locate the record you want to delete and click the zoom arrow next 3 Go to the Edit menu and choose Delete. For example, if you want
to it. The record details are displayed in the Information window. to delete a Time Billing activity, choose Delete Activity.
(If you are deleting an activity slip, the record details are displayed
in the Enter Activity Slip window).

Inactivating/Reactivating a Record
If you have accounts, cards, items, jobs or time billing activities that
you rarely use–for example, you created a card for a one-time sale
or purchase–inactivating them after use will remove them from
selection lists. Your list of records will be shorter, and consequently
selecting the record you need will be easier. You can still use an
inactive record in transactions by manually entering the record
name.

To inactivate (or reactivate) a record

1 Display the list to which the record belongs to. For example, if you
are inactivating a card, display the Cards List window. You can do
this by using the Lists menu or from the appropriate command
center.

2 Locate the record you want to inactivate or reactivate and click the
zoom arrow next to it. The record details are displayed. For cards
and items, make sure the Profile tab is displayed.

3 Mark the Inactive checkbox.

4 To reactivate the record, simply clear the checkbox.

User Guide Inactivating/Reactivating a Record 107

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 Chapter 8
Working It is one thing to enter your data, but there comes a time when you need to find it. MYOB
AccountEdge allows you to search for transactions by journal, account, card, payroll
category, sale, purchase, report categories and job number.

With You can simply look for transactions over a given date range, or set up more sophisticated
searches. For example, you could look for checks between a given date range where the

Transactions
memo contains specific words. MYOB AccountEdge’s powerful search functions mean you
will always be able to find the information you want quickly.

Once you have found your transaction, you can easily zoom back to the original
transaction window. Here you can change, delete or reverse the transaction. Changing and
deleting transactions bring with it auditing and security questions; so many larger
businesses prefer to reverse their transactions. Reversing transactions keeps their audit
trail complete.
As businesses have many repetitive transactions that occur weekly, monthly or yearly,
MYOB AccountEdge allows you to set up recurring transaction templates. This is where
you create templates for the transactions you record regularly and then tell MYOB
AccountEdge to remind you when they are next due. Many businesses set up MYOB
AccountEdge to remind them of their monthly obligations like rent. They may set up
weekly reminders about sales and purchases; some businesses even set up recurring
General Journal entries to record depreciation on a monthly basis.

MYOB AccountEdge has many features that can handle the repetitive tasks associated
with running a business. It also makes it easy to locate and correct transactions. So read
on and take advantage of these time-saving features.

109
Finding a Transaction
MYOB AccountEdge has several search methods that can help you To find a transaction using Find Transactions
find a transaction quickly and conveniently. The method you use
1 From any command center, click Find Transactions.
depends on the information you have at hand.
2 In the Find Transactions window, click the appropriate tab—for
Find Transactions Use the Find Transactions function to find
example, the Account tab to search by account.
General Journal entries, sales, purchases, checks, deposits, and
vendor and customer payments. Find Transactions has an 3 Filter your search using the Search By and Date range fields. For
advanced search tool which allows you to locate a transaction using example, to search for all transactions made in October 2002
a number of filters, including date, transaction ID, amount, memo, relating to customer Huston & Huston Packaging, you would make
source journal, account, card, payroll category, report category and the following selections in the Card tab.
job.

Sales Register Use the Sales Register to quickly access

transactions relating to sales such as open, closed and recurring
4 Click Advanced if you want to narrow your search further. For more
invoices, quotes, orders, credits and returns. This search method is
information about the fields in this window, click Help.
most useful if you know the transaction date or customer’s name.
When the transaction(s) that fit your search criteria are displayed in
Purchases Register Use the Purchases Register to find the Find Transactions window, you can view them in detail by
transactions relating to Purchases such as quotes, orders, open, clicking the zoom arrow next to each transaction.
closed and recurring purchases, debits and returns. This search
method is most useful if you know the transaction date or vendor’s To find a transaction using the Sales Register
name.
The Sales Register allows you to view an overall picture of your
Bank Register Use the Bank Register to find Spend Money and sales activity. Using just one window, you can quickly and efficiently
Receive Money transactions, cash sales and purchases, vendor look at open and closed invoices, quotes, orders, returns and credits
payments and customer payments. and recurring templates. You can even view a list of all sales, if you
choose.
Transaction Journal Use this method to search for any transaction
by source journal. You can search for inventory transfers, You can perform several functions using the Sales Register, such as
adjustments, etc., using the Transaction Journal. deleting a sale (see ‘To delete a transaction’ on page 115),
converting the status of a sale (see ‘Changing the Status of a Sale’
on page 64) and changing the details of a sale (see ‘Changing a
transaction’ on page 114).

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 If one of your customers gives you a deposit, you can click the zoom To find a transaction using the Purchases Register
arrow next to the relevant sales transaction in the Sales Register
The Purchases Register allows you to view an overall picture of
window to display the Sales - Edit window. Then, clicking Payment
your purchase activity. Using just one window, you can quickly and
will display the Receive Payments window. In this window, you can
efficiently look at open and closed purchases, quotes, orders,
record the deposit.
returns and debits and recurring templates. You can even view a list
You can also display the Settle Returns and Credits window of all purchases, if you choose.
directly from the Sales Register if you want to apply a customer
You can perform several functions using the Purchases Register,
credit to a sale or offer a refund.
such as changing the status of a purchase (see ‘Changing the Status
1 Go to the Sales command center and click Sales Register. The of a Purchase’ on page 78) and making changes to or deleting a
Sales Register window is displayed. purchase (see‘Working With Transactions’ on page 109 for more
2 Click the tab of the sales category you’d like to view—for example, information).
Open Invoices. If you make a payment to one of your vendors, you can easily access
the Pay Bills window from the Purchases Register and record the
payment.

You can also display the Settle Returns & Debits window directly
from the Purchases Register if you want to apply a vendor debit to
one of your unpaid purchases with the vendor.

1 Go to the Purchases command center and click Purchases

3 Filter your search using the Search By and Date range fields. Register. The Purchases Register window is displayed.
When the transactions that fits your search criteria is displayed in 2 Click the tab of the type of purchase you’d like to view, for example
the Sales Register window, you can view them in detail by clicking Open Bills.
the zoom arrow next to each transaction.

3 Filter your search using the Search by and Date range fields.

When the transactions that fits your search criteria is displayed in

the Purchases Register window, you can view them in detail by
clicking the zoom arrow next to each transaction.

User Guide Finding a Transaction 111

 To find a transaction using the Bank Register To find a transaction using the Items Register

You can use the Bank Register to find checks, Spend Money and Use the Items Register to find inventory adjustments, sales and
Receive Money transactions, cash sales or purchases, vendor purchases for all items or for a single item. This search method is
payments and customer payments. most useful if you know the transaction date.

1 Go to the Banking command center and click Bank Register. The The Items Register gives you quick access to transactions relating
Bank Register window is displayed. to items. When the register is filtered to show a single item, a
running balance of the item’s quantities and value is displayed.
2 Specify the checking or credit card account you used for the
transaction in the Account field. 1 Go to the Inventory command center and click Items Register.
The Items Register window is displayed.
3 In the Dated From and To fields, enter the date range within which
the transaction was recorded. All transactions between (and 2 Specify whether you want to view transactions for all items or a
including) these dates will be listed. single item by making the appropriate selection in the Search By
field.

3 In the Dated From and To fields, enter the date range within which
the transaction was recorded. All transactions between (and
including) these dates will be listed.

4 Locate the transaction you want using the scroll bar and then click
the zoom arrow to the left of the transaction to view it in its original
4 Locate the transaction you want using the scroll bar and then click
window.
the zoom arrow to the left of the transaction to view it in its original
window.

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 To find a transaction using the Transaction
Journal

The Transaction Journal groups all your accounting entries into

one of seven journals: General, Disbursements, Receipts, Sales,
Purchases, Inventory and All. You can also display the Transaction
Journal window by clicking Journal in a transaction window such as
Sales.

1 Click Transaction Journal from any command center (except Card

File). The Transaction Journal window is displayed.

Click the appropriate tab—for example, the Sales tab to find a sales
invoice, the Disbursements tab to find a check or vendor payment,
and so on.

2 In the Dated From and To fields, enter the date range within which
the transaction was recorded. All transactions between (and
including) these dates will be listed.

3 Locate the transaction you want using the scroll bar and then click
the zoom arrow to the left of the transaction to view it in its original
window.

User Guide Finding a Transaction 113

Changing or Deleting a Transaction
If you are part way through entering a transaction, you can erase it To change a transaction
and start again by choosing Erase from the Edit menu.
1 Find and display the transaction in its original transaction window.
Occasionally, however, you may need to make changes to or delete See ‘Finding a Transaction’ on page 110 for instructions.
a transaction you have already recorded. A transaction can be
2 Make the necessary changes to the transaction.
edited or removed only if it is changeable, that is, you have turned
off the Transactions CAN’T be changed; they must be reversed 3 Click OK when you’re done.
(system-wide) setting in the Security view of the Preferences
window. A changeable transaction is distinguished by a white zoom Deleting a transaction
arrow next to it.
Follow the instructions below to delete a transaction. Note the
N OTE :Making unchangeable transactions changeable You can following when deleting a transaction.
make an unchangeable transaction changeable at any time simply
by turning off this preference in the Security view of the Sales and purchases You can only delete a sale or purchase that
Preferences window.
does not have a payment applied to it. If you have recorded a
If you want to maintain a strict audit trail, you should consider payment for a sale or purchase, you must first delete the payment
leaving this preference on and reversing the transaction (see and then delete the transaction. Any discounts that may have been
‘Reversing a Transaction’ on page 115). given must also be deleted before the transaction can be deleted.

Remember, when you delete a transaction, it is permanently If you applied a vendor debit towards a purchase, you must delete
removed from your records; any changes you make to a transaction the debit before you can delete the purchase. A customer credit
permanently alters your records. applied to a sale must be deleted before the sale can be deleted.

Receipts in the undeposited fund transactions account If you

Changing a transaction want to delete an individual receipt that was recorded on a bank
Follow the instructions below to change a transaction. deposit of receipts grouped in the undeposited funds account, you
must first delete the bank deposit. When you delete a bank deposit,
C AUTION : Transactions that cannot be changed You cannot
change a customer payment, vendor payment, paycheck, refund
all of the receipts included in the bank deposit are returned to the
check or a bank deposit once it has been recorded. You can only Prepare a Bank Deposit window. You can then delete the required
delete or reverse these transactions. receipt from this window.

Reconciled transactions Note that if you delete a reconciled

transaction, your bank reconciliation will be out of balance.

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 To delete a transaction 2 Go to the Edit menu and choose Delete. The transaction will be
removed permanently from your records.
1 Find and display the transaction in its original transaction window.
See ‘Finding a Transaction’ on page 110for instructions.

Reversing a Transaction
If your accountant requires that you maintain an audit trail of all NOTE : Customer and vendor payments Be aware that if an early
your accounting entries, you should reverse a transaction rather payment discount was applied to the sale or purchase to which you
than change or delete it. originally applied the payment, you also need to reverse the
discount. (You can find discount transactions the same way you find
A reversal transaction is a new transaction that replicates the vendor or customer payments; look for a transaction with the label
original transaction, with debit amounts shown as credit amounts Discount in the Find Transactions window.)
and vice versa. After posting a reversal transaction, you have two
transactions (the original and the reversal), but the account To reverse a transaction
balances appear as if the original transaction never happened.
1 Find and display the transaction you want to reverse. See ‘Finding a
You can only reverse a transaction if it is unchangeable, that is, if the Transaction’ on page 110 for instructions.
Transactions CAN’T be changed; they must be reversed
2 Go to the Edit menu and choose Reverse. For example, if you want
(system-wide) checkbox is marked in the Security view of the
to reverse a sale select Reverse Sale. After a few moments, a new
Preferences window. An unchangeable transaction is distinguished
transaction containing corresponding negative amounts exactly
by a gray zoom arrow next to it.
opposite of the amount in the original transaction is displayed.
NOTE : Making changeable transactions unchangeable You can
3 If you want, you can make a few changes to the new transaction,
make a changeable transaction unchangeable at any time simply by
turning on this preference in the Security view of the Preferences
such as the date and memo, but you can’t change the accounts and
window. amounts that are associated with it.

When you reverse a transaction, remember that you cannot change 4 Click Record to record the reversal transaction. At this point, the
the accounts or amounts. Also be aware of the date of a reversal transaction is reversed and all account balances are returned to their
transaction. If you use the current date when you reverse a previous levels.
transaction from a prior month, the month-end financials for the
prior month will not reflect the reversal transaction. If you use the
original date for the reversal transaction, your prior month financials
should be reprinted as they would have changed.

User Guide Reversing a Transaction 115

 Working with Recurring Transactions
If you have transactions that must be written time and time Flow Worksheet. Note that a recurring transaction with a frequency
again—for example, a rent check or depreciation expenses—they of Other is not included in your Cash Flow Worksheet.
can be saved as recurring templates. You can make the following
transactions recurring: sales, purchases, checks, deposits and
General Journal entries.

When you save a transaction as recurring, MYOB AccountEdge puts

a copy of it in a separate list of recurring transactions. Any time you
need to use one, all you need to do is simply click Use Recurring,
select the appropriate template, verify the details and record it.

To create a recurring template

1 Enter the details of the transaction in a transaction window. Then,

instead of clicking Record, click Save Recurring. The Save
4 Click Save Template.
Recurring Template window is displayed.

2 Enter a name to identify the template.

3 Specify the frequency of the transaction and a reminder date.

If you specify the frequency and a reminder date, MYOB

AccountEdge will post a reminder in your To Do List and, if the
transaction affects a checking account, adjust for it on your Cash

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 To use a recurring template 3 In the To Do List window, click the Action column to mark any
recurring transactions you want to process.
You can use a recurring template from a transaction window such as
Spend Money or Record Journal Entry, from the Sales Register,
Purchases Register, Bank Register or from the To Do List. The
advantage of using the To Do List is that you can process several
recurring transactions at once.

TO P R O CE SS A S IN G L E R EC U RR IN G T RA NS AC T IO N

1 Open a transaction window, for example Sales, and click Use

Recurring. A list of recurring templates that you have created is
displayed.

2 Select the required template and click Use Recurring. The

transaction is displayed, ready to be modified (if needed) and 4 Click Record to process all the transactions you have selected.
recorded.

3 Verify the date, amount, account and other details and make any
necessary changes.

4 Click Record.

TO P R O CE SS M U L T IP L E R EC U RR IN G T RA NS AC T IO N S

1 From any command center, click To Do List.

2 Click the appropriate tab—Sales for recurring sales, Purchases for

recurring purchases and Transactions for all other recurring
transactions.

When the list of transactions is displayed, you can click the zoom
arrow to the left of a transaction to view it in detail.

User Guide Working with Recurring Transactions 117

To change a recurring template

To change a recurring template’s name or frequency, click Use

Recurring in a transaction window, select the template and click
Edit Frequency. To change the detail (memo, accounts, amounts,
etc.) of a template, wait until the next time you need to use it. When
it is displayed, change it before recording. The next time you use
the recurring template, the new detail will be displayed.

To delete a recurring template

To delete a recurring template from your list, click Use Recurring in

a transaction window, select the template, and click Delete.

Deleting a recurring template only removes it from your list of

recurring templates. All actual transactions recorded previously
using the recurring template are not affected.

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 Chapter 9
Paying Your Payroll is one area of business that has to be correct every time. Unlike many other areas of
business where errors can be adjusted at a later date, employees immediately notice errors
in their paychecks.

Employees Fortunately, the MYOB AccountEdge payroll system is capable of accurately calculating
pay for both wage and salary earners. It can calculate overtime rates, union fees and other
deductions, employer expenses, and accruals such as vacation pay and sick leave, along
with tax deductions. The system is also capable of paying employees in cash, as well as
printing attractive paychecks.
The MYOB AccountEdge payroll system is flexible because it allows you to create an
unlimited number of wage, accrual, deduction, and expense categories which allows it to
keep track of payroll amounts for the most demanding businesses. These categories are
applied to an employee’s pay information to form the default values for the employee’s
paycheck. If necessary, any default values can be overridden on the paycheck to ensure the
pay amounts are always correct.

As a rule, the MYOB AccountEdge payroll system is considered suitable for businesses
with anywhere between one and twenty employees, although larger businesses successfully
use the MYOB AccountEdge payroll system.
When you write a paycheck in MYOB AccountEdge, the system automatically updates your
accounting records and keeps track of employees’ vacation accruals. It also keeps track of
the payroll taxes due, making your job easier when it’s time to file payroll taxes. And at
year-end, you can print out W-2 forms for your employees to use at tax time. For more
information, see ‘Starting a New Payroll Year’ on page 182.

Remember, if you are concerned about employee privacy, you can always use the security
features to restrict access to this and other areas of MYOB AccountEdge.

119
Creating Payroll Categories
Wage Categories
A paycheck normally consists of five elements: wages, accruals, In MYOB AccountEdge, money paid to employees for labor or
deductions, taxes, and employer expenses. Collectively, these services is referred to as wages. Wages are determined on an hourly,
elements are referred to as payroll categories. Before you begin salary, or other basis. Some examples of wages are salary, bonus,
writing paychecks to employees, you must create the payroll commission, and overtime. In addition, some other forms of
categories that are used by your business. You must then assign payment, such as some types of employee benefits, are also
each employee the payroll categories that apply to him or her. considered wages for tax purposes, and are referred to as non-cash
Then, when you pay an employee (in the Pay Employees window), wages. Company car benefits and excess life insurance are
the payroll categories you’ve assigned to each employee will examples of non-cash wages.
automatically determine the various amounts that are associated
All types of employee payment, regardless of whether they’re based
with the paycheck.
in cash, need to exist in the MYOB AccountEdge system so you can
If you set up your payroll using the Payroll Easy Setup Assistant, a pay your employees properly.
set of payroll categories was automatically created for you. If this
default set of payroll categories doesn’t fully suit your company’s To create a Wage category
needs, you can create custom payroll categories.
1 Go to the Payroll command center and click Payroll Categories.
The Payroll Category List window is displayed.
Before you create payroll categories
2 Click the Wages tab.
Before you create payroll categories, you need to have loaded your
tax tables and set up your general payroll information in MYOB 3 Click New. The Wages Information window is displayed. (For
AccountEdge. For more information, see ‘Setting up Payroll details’ detailed field help, click Help in this window.)
on page 31.
4 Enter a descriptive name for the wage in the Wages Name field.
N OTE :Single-user access Please note that the task of creating a
5 Indicate whether the wage is paid on an hourly or salary basis.
payroll category requires single-user access. For more information,
see ‘Tasks that require single-user access’ on page 193. 6 If the wage is hourly, enter the rate of pay in the Pay Rate field.

7 Mark the Optional Account checkbox if you want to override the

wages expense account assigned to each employee in the
Employee Payroll Information window. Enter a different account
in the Override Account field.

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8 Mark the Non-Cash Wages checkbox if this wage represents non- To create an Accrual category
cash wages.
1 Go to the Payroll command center and click Payroll Categories.
9 Click Employee to assign this wage to specific employees. The The Payroll Category List window is displayed.
Linked Employees window for the wage is displayed.
2 Click the Accruals tab.
10 Mark the Select column for every employee to whom you want to
3 Click New. The Accrual Information window is displayed. (For
assign the wage and click OK.
detailed field help, click Help in this window.)
11 Click Exempt to indicate from which taxes and deductions this
wage is exempt. The Wages Exemptions window for the wage is
displayed.

12 Mark the Exempt column for the taxes and deductions that should
be exempted and click OK.

13 When you complete all entries in the Wages Information window,

click OK to record the new wage.

Accrual categories
In MYOB AccountEdge, accruals are hours that accumulate on
paychecks that help you pay special wages, such as vacation pay or
sick pay. 4 Enter a descriptive name for the accrual in the Accrual Name field.
When you create an accrual in MYOB AccountEdge, you’ll link it to 5 Choose the method by which you want accrual hours to be
an hourly wage. Whenever you pay that particular hourly wage, the accumulated for this accrual in the Type of Accrual field.
accrual hours associated with that wage will be automatically
6 Choose whether you want accrual hours to be carried over to the
decreased by the appropriate amount. For example, if you include a
next payroll year.
week’s worth of vacation pay on an employee’s paycheck, that
employee’s vacation accrual will be decreased by the number of 7 Enter the hourly wage to which you want to link this accrual in the
hours in one work week. Linked Wages Category field.

8 Click Employee to assign this accrual to specific employees. The

Linked Employees window for the accrual is displayed.

9 Mark the Select column next to each employee to whom you want
to assign the accrual. Click OK when you have finished.

User Guide Creating Payroll Categories 121

10 Click Exempt if you’ve chosen a percentage of Gross Hours or 5 In the Linked Payable Account field, enter the account you want to
Federal Hours as the basis for calculating the accrual. The Accruals use to track the amounts withheld for this deduction.
Exemptions window is displayed.
6 In the Type of Deduction fields, choose the deduction type and
11 Mark the Exempt column next to each hourly wage category that enter a rate for the deduction, if any.
should be exempt and click OK.
7 In the Deduction Limit fields, enter the maximum amount that can
12 When you have completed all the entries in the Accrual be withheld for this deduction.
Information window, click OK to record the new accrual.
8 Click Employee. The Linked Employees window for the deduction
is displayed.
Deduction categories
9 Mark the Select column for every employee that you want to assign
In MYOB AccountEdge, deductions are any amounts other than the deduction to and click OK.
taxes that are subtracted from an employee’s gross pay.
10 Click Exempt to indicate from which taxes this deduction is
To create a Deduction category exempt. The Deduction Exemptions window is displayed.

1 Go to the Payroll command center and click Payroll Categories. 11 Mark the Exempt column for the taxes that should be exempt and
The Payroll Category List window is displayed. click OK.

2 Click the Deductions tab. 12 Click OK to record the new deduction.

3 Click New. The Deduction Information window is displayed. (For

Employer Expense categories
detailed field help, click Help in this window.)
In MYOB AccountEdge, employer expenses are your company’s costs
of having employees. Employer expenses are calculated on
employees’ paychecks, but they don’t affect the employees’ net
pay. Instead, they affect the amounts you must contribute to the
employee (such as pension contributions), to the government, or to
other institutions.

You can also track the balance of an employer expense for each
employee and carry over any remaining expense balance to the
next payroll year.

4 Enter a descriptive name for the deduction in the Deduction Name

field.

122 Chapter 9 Paying Your Employees MYOB AccountEdge, Version 3 us

 To create an Employer Expense category l If you selected SUI or SDI in the Type of Expense field, enter
information in the State Code, State Tax ID and SUI Rate or SDI
1 Go to the Payroll command center and click Payroll Categories.
Rate fields.
The Payroll Category List window is displayed.
7 Click Employee if you want to assign the new employer expense to
2 Click the Expenses tab.
specific employees. The Linked Employees window for the
3 Click New. The Employer Expense Information window is employer expense is displayed.
displayed. (For detailed field help, click Help in this window.)
8 Mark the Select column for every employee you want to assign the
employer expense to and click OK.

9 If you selected Other in Step 6, click Exempt to indicate which

wages should not be assigned to this employer expense. The
Employer Expense Exemptions window for the wage appears.

10 Mark the Exempt column for the wages that should be exempt and
click OK.

11 Click OK to record the new employer expense.

4 Enter a descriptive name for the employer expense in the Employer

Expense Name field.

5 Enter the accounts you want to use to track the amounts withheld
by this employer expense in the Linked Expense Account and
Linked Payable Account fields.

6 Choose the type of employer expense you want to create in the

Type of Expense field.

l If you selected Other in the Type of Expense field, choose the

rate by which this expense is calculated in the Expense Basis
field. Enter the maximum amount that can be withheld for this
expense in the Expense Limit field.

User Guide Creating Payroll Categories 123

 Understanding Payroll Taxes Assigning payroll taxes to employees
In MYOB AccountEdge, payroll taxes are amounts that are Payroll taxes must be assigned to employees before they can be
calculated and deducted from employee paychecks according to used on paychecks. For more information, see ‘To enter payroll
regulations established by government taxation authorities. Payroll information’ on page 33.
taxes must be assigned to employees before they can be used on
paychecks.

Since tax laws change frequently, it’s important that you use the
most up-to-date payroll tax amounts and percentages when you
write your paychecks. To keep your payroll tax calculations up-to-
date, payroll taxes are administered in MYOB AccountEdge by the
use of special tax tables, which are included in your MYOB
AccountEdge package.

To determine the date of the payroll tax tables

1 Go to the Apple menu and selected About AccountEdge.

Since the accuracy of your payroll records is at stake, you cannot

add, change or remove any payroll taxes from the tax tables in MYOB
AccountEdge. However, for a modest fee you can receive the latest
tables from MYOB automatically, whenever payroll tax laws change.

124 Chapter 9 Paying Your Employees MYOB AccountEdge, Version 3 us

 Changing or deleting a Payroll Category
You follow similar procedures to edit or delete any of the payroll
categories. For more specific information, look up the references in
the two procedures below.

To edit a Payroll Category

L In MYOB Help, choose Payroll > Managing Payroll Categories >

Changing payroll categories, and then click the appropriate topic:

l ‘To Change a Wage’

l ‘To Change an Accrual’
l ‘To Change a Deduction’
l ‘To Change an Employer Expense’

To delete a Payroll Category

L In MYOB Help, choose Payroll > Managing payroll categories >

Changing payroll categories, and then click the appropriate topic:

l ‘To delete a Wage’

l ‘To delete an Accrual’
l ‘To delete a Deduction’
l ‘To delete an Employer Expense’

User Guide Changing or deleting a Payroll Category 125

 Paying Your Employees
Step 2: Select the account for the paycheck
In MYOB AccountEdge, paychecks are transactions that you use to 1 Go to the Payroll command center and choose Pay Employees.
pay your employees. Like regular checks, paychecks can affect your The Pay Employees window is displayed.
company’s checking acounts, credit card accounts, petty cash
2 Click the search icon next to the Account field and select the
accounts, and other cash accounts. Many companies, however, use
checking account that will be used for this check. Only accounts
a special payroll checking account from which to pay employees.
you’ve specifically designated as checking accounts or credit card
accounts are displayed in the list.
To write a paycheck

1 Set up employee and payroll information. Step 3: Enter the employee’s name
2 Select the account for the paycheck. 1 Enter the employee’s name in the Employee field or click the search
icon and select the employee’s card from the Cards List.
3 Enter the employee’s name.
When you enter the employee’s name, MYOB AccountEdge
4 Review the paycheck information.
automatically calculates all the employee’s wages, accruals,
5 Distribute vacation and sick pay (optional). deductions, employer expenses, and payroll taxes—collectively
6 Distribute other types of wages (optional). known as payroll categories—and displays the appropriate amounts
in the Pay Employees window.
7 Complete the paycheck.
2 Verify that the date, check number, and memo that MYOB
AccountEdge has automatically generated for this paycheck are
Step 1: Set up employee and payroll
correct. You can change them if you want.
information
Creating paychecks in MYOB AccountEdge is a quick and simple
process—if you’ve taken the time to carefully set up your company’s
payroll information.

1 Set up your company’s payroll information – see ‘Setting up Payroll

details’ on page 31.

2 Create employee cards and payroll categories – see ‘Creating

Payroll Categories’ on page 120.

126 Chapter 9 Paying Your Employees MYOB AccountEdge, Version 3 us

Step 4: Review the paycheck information Step 5: Distribute vacation and sick pay
All payroll categories assigned to the employee are displayed in the
(optional)
scrolling list in the middle of the window, as shown in the example You can distribute vacation or sick pay accrual wages on an
below. employee’s paycheck. To do this, you should have already created
accruals for your employee’s sick or vacation time. See ‘To create an
Accrual category’ on page 121 for more information.

1 Enter the number of sick or vacation hours in the Hours column of

the accrual wage.

The amount that appears in the Amount column is calculated

automatically. When you record the transaction, the hours you
entered will be subtracted from the number of hours the employee
If the employee is paid on an hourly basis, enter the number of has accrued.
hours he or she worked for each of the wage categories assigned to
him or her. The payroll categories’ amounts are calculated 2 If you’re distributing wages for an accrual such as sick pay, you may
automatically and displayed in the Amount column of the scrolling also need to change the employee’s regular hourly-wage hours or
list. amounts.
Carefully review the information displayed in the scrolling list. It’s
important to make sure that this information is correct before the Step 6: Distribute other types of wages
paycheck is recorded. (optional)
If you want to assign the transaction to a particular category, click You can include other types of pay, such as sales commissions,
the search icon to select a category from the Category List. bonuses, or non-cash wages on an employee’s paycheck. To
perform this step, the wages you intend to pay should already exist
in MYOB AccountEdge, and should be assigned to the employee.
For example, if you want to pay a bonus to the employee, a wage
category called ‘Bonus’ must already exist in MYOB AccountEdge
For more information about categories, see ‘Setting up Categories’
and should be assigned to the employee.
on page 43.
For information on creating a wage category, see ‘To create a Wage
category’ on page 120. For information on assigning this wage
category to an employee, see ‘To enter payroll information’ on
page 33.

User Guide Paying Your Employees 127

Step 7: Complete the paycheck Changing, deleting or reversing a paycheck
When you have completed all entries in the Pay Employees Occasionally, you will find it necessary to make a change to a
window, there are a number of tasks you can perform with the paycheck, you’ve already recorded. Unlike most other types of
transaction. Review all the options before you choose what you transactions in MYOB AccountEdge, once a paycheck, is recorded,
want to do. you can’t change it directly. However, you can change a paycheck,
if you remove or reverse the entire paycheck, and then write a new
l Print and record the paycheck. Click Print. The paycheck will be
paycheck, that contains the correct information.
recorded before it is printed. For more information on printing
paychecks, see ‘Printing paychecks’ on page 128. There may be times when you simply want to remove a paycheck.
l Record the paycheck. To record the paycheck without printing it, When this is the case, you can quickly remove the effects of such a
click Record. transaction from your records. When you remove a recurring
l Store the paycheck as recurring so that you can use it many times paycheck, the paycheck,. is removed from your list of recurring
in the future. Click Save Recurring. In the Save Recurring paycheck, only. Any transactions you recorded using a recurring
Template window, enter the necessary information and click paycheck, you remove will not be affected.
Save Template. (For more information on creating and using An important point to consider is if the paycheck, is changeable or
recurring transactions, see ‘Working with Recurring Transactions’ unchangeable. If the transaction is changeable, you can remove the
on page 116.) paycheck, altogether from your ledger.

Unchangeable transactions work differently. By reversing an

Printing paychecks unchangeable paycheck, the effects of the original will no longer be
You can choose to print a paychecks, in the Pay Employees window part of your ledger; however, a record of the reversed paycheck,
at the time you enter the paychecks, or you can choose to print the called a reversing transaction, will remain. Then, you can enter a
paychecks, at a later time. You can print and reprint individual new, correct transaction to replace the one you reversed.
paychecks, or you can print several paychecks, at the same
time—the choice is yours. M O RE IN FO R M AT IO N

For more information on printing paychecks, see the Printing Forms l To change the name or frequency of a recurring paycheck, go to
chapter on page 151. For detailed information, in MYOB Help, MYOB Help and choose Payroll > Paying employees >Chaning,
choose Payroll> Printing paychecks. Removing or Reversing Paycheques > To change a recurring
Paycheck’s Name and Or frequency.
For information on customizing the look of your printed paychecks,
l To change a check’s line items and other information, go to
see ‘Customizing Forms’ on page 155.
MYOB Help and choose Payroll > Paying employees > Changing,
deleting and reversing paychecks > To change a recurring paycheck's
line items & other information.

128 Chapter 9 Paying Your Employees MYOB AccountEdge, Version 3 us

l To delete a check, go to MYOB Help and choose Payroll > Paying
employees checks > Changing, deleting and reversing paychecks >
To delete a paycheck.
l To delete a recurring paycheck, go to MYOB Help and follow this
path Payroll > Paying employees checks > Changing, deleting and
reversing paychecks > To delete a recurring paycheck.
l To reverse a paycheck, go to MYOB Help and choose Payroll >
Paying employees checks > Changing, deleting and reversing
paychecks > To reverse a paycheck.

User Guide Paying Your Employees 129

Reviewing Payroll Information
Keeping your payroll information up-to-date and accurate is a l To print a list of recurring paychecks, go to MYOB Help and
primary concern for all businesses. MYOB AccountEdge contains a choose Payroll > Reviewing your payroll information > To print a list
number of tools that help you gain a quick picture of your payroll of all your recurring paychecks.
information. l To analyze the payroll activity, go to MYOB Help and choose
l The To Do List provides a quick way to review your transactions Payroll > Reviewing your payroll information >> To Analyze your
in MYOB AccountEdge, including recurring checks, recurring payroll activity.
deposits and other General Journal transactions.
l 6he Analyze Payroll window can help you understand the
details of your payroll information. It can help you spot possible
inaccuracies in the amounts you’re paying to and deducting from
your employees. The Analyze Payroll window will help you
perform this important task by providing various summaries of an
employee’s payroll data.
l With Find Transactions, you can perform a simple as well as an
advanced search for an account, card, or payroll category. For
more information, see ‘To find a transaction using Find
Transactions’ on page 110.

M O RE IN FO R M AT IO N

l To display a list of paychecks, go to MYOB Help and choose

Payroll > Reviewing your payroll information > To display a list of all
your paychecks.
l To display a list of recurring paychecks, go to MYOB Help and
choose Payroll > Reviewing your payroll information > To display a
list of recurring paychecks.
l To print a list of all paychecks, go to MYOB Help and follow this
path – Payroll > Reviewing your payroll information > > To print a
list of all your paychecks.

130 Chapter 9 Paying Your Employees MYOB AccountEdge, Version 3 us

Chapter 10
Billing For MYOB AccountEdge’s powerful Time Billing feature allows businesses to track employees’
and vendors’ time used to complete tasks and services (activities) for clients and customers.
It also allows businesses to track incidentals incurred in completing the work (items). The

Time Time Billing feature is an great solution for many businesses—businesses that
predominantly sell time, such as accountants and lawyers and businesses that sell both
time and items such as interior designers and mechanics.

The Time Billing feature is very flexible. You can establish activity billing rates based on
the activity itself, such as consulting at $75 per hour and photocopying at 10 cents per copy.
If you prefer, you can establish activity billing rates based on an hourly charge-out rate for
a particular employee. For example, the employee John Smith’s hourly consulting rate may
be $120 per hour, and the subcontractor Acme Industries’ charge out rate may be $150 per
hour. You can even set an underlying cost to the activity where, for example, you may
estimate that the hourly cost to employ Smith is $75 per hour, and Acme is $135 per hour.
All MYOB AccountEdge activities can be established as chargeable or non-chargeable. The
ability to track non-chargeable activities can be very useful for businesses that want to
record costs such as entertainment, which generally cannot be charged to the customer.

MYOB AccountEdge’s Time Billing makes it easy to enter and collate the activities
undertaken for customers. The activities can be entered individually or grouped together
into MYOB AccountEdge’s activity slips. The information can be quickly adjusted to
generate Time Billing invoices, ready to send to your customers. Any items that you have
sold to your customers can also be included with the activities in a single Time Billing
invoice.
You can view the history of your activities in the Activity Log. You can use the Diary View,
which gives you the who, what and when of the activity, or the Detail View, which gives you
details of the amounts that were billed.

Time Billing reports can be extensively filtered to give you the information you want
included in the reports. These reports are a great management tool, allowing you to closely
monitor how you and staff spend your time, and whether it is profitably spent.

131
Setting Time Billing Preferences
There are three preferences that should be set before you start Rounding time in Time Billing
billing for time in MYOB AccountEdge.
Time Billing allows you to set a preference for how you want units of
l The Special billing unit preference should be set when you want time to be rounded when you use the Timer.
to bill units of time of less than an hour.
Choose to round Up To Next, Down To Previous or To Nearest.
l The Rounding preference affects how you want elapsed time to
For example, if you have chosen Up To Next and are using 30
be rounded.
minute billing units, 10 minutes would be rounded up to 30
l The Include items preference should be set if you want to minutes on an activity slip.
include items for sale on Time Billing invoices.
If you are not using a special billing unit of time—that is, you are
Go to the Setup menu and choose Preferences. The System view billing in hours—you can specify the rounding increment. For
of the Preferences window is displayed. The preferences that apply
example, if you want to round the actual time you clock using the
to Time Billing are shown below. Set a preference by marking the
timer up to the next minute, choose Up To the Next and enter ‘1’
checkbox next to that preference.
in the Minute Increment field. That way, if you clock 21 minutes
and 32 seconds of an activity, 22 minutes will be entered
automatically in the Actual Units field.

NOTE : Minute Increment field If you have specified a special time

Special billing units billing unit and a rounding rule, the Minute Increment field here is
redundant and, therefore, is not displayed.
Special billing units is a useful feature for organizations that need to
track billable time in special units of one minute, six, ten, twelve, Including items on Time Billing invoices
fifteen or thirty minutes. The unit of time you specify here will be
the default billing unit when you create hourly activity slips. For This preference lets you include items on your Time Billing invoice
example, you can specify six-minute Time Billing units, where an and charge your customers for both activities and items on a single
hour would be ten billing units of time. Any activity slips you have invoice. If this preference is marked, the selection list that appears in
already created will be updated to use the special billing unit of the Sales-Time Billing window includes both your activities and
time. items.
N OTE :Unit of Measurement shows as Hourly If you have set
your preferences to use a special billing unit of time, the unit of
Note that only items for which you have marked the I Sell This Item
measurement for all hourly activities will still show as Hour in the checkbox in the Item Information window will be included in the
Activity Information window. This is because the billing unit is still selection list.
based on an hour. Don’t change the Type for your activities from
Hourly to Non-hourly, because the special billing unit will be used
when you create an activity slip using an hourly activity.

132 Chapter 10 Billing For Time MYOB AccountEdge, Version 3 us

 Setting Billing Rates
You can set billing rates that will automatically be displayed when To set a billing rate for vendors or employees
you create an activity slip (you can still override these rates when
you create the activity slip). The billing rate can be a rate set for the You can set a billing rate for an employee or vendor in their card.
customer, the employee or vendor, or for the activity itself. This option allows you to bill an activity at different rates according
to the employee or vendor performing the activity. You can also
For example, for an activity such as the time spent photocopying, track the costs associated with having the activity performed. This is
you might use a flat rate for all customers, in which case you would particularly useful if you are sub-contracting work to a vendor.
use the activity billing rate. For other activities, you might charge
the customer according to the employee who performed the 1 Display the vendor’s or employee’s Card Information window.
activity, the billing rate depending on factors such as the expertise Then do the following:
and experience of the employee. n Vendor cards—click the Buying Details tab.
n Employee cards—click the Billing Details tab and then click
To set a billing rate for the activity Time Billing.
You can set up a billing rate for each activity, regardless of the 2 Enter the hourly billing rate excluding tax for the card in the Vendor
customer you are billing, or the employee or vendor who Billing Rate field or the Employee Billing Rate field.
performed the activity. The billing rate for an activity is set in the
Activity Information window. See ‘To create an activity’ on 3 Enter the hourly cost to you of having this activity performed in the
page 134. Cost per Hour field.
4 Click OK.
To set a billing rate for customers
5 Set the activity to use the employee or vendor billing rate. See ‘To
You can set up a billing rate for customers in their card. This option create an activity’ on page 134.
is useful if you are performing the same activities for multiple
customers and want to charge each customer at a different rate.
1 Display the Card Information window for the relevant customer
and click the Selling Details tab.

2 Enter the hourly billing rate excluding tax for the card in the
Customer Billing Rate field and click OK.
3 Set the activity to use the customer billing rate. See ‘To create an
activity’ on page 134.

User Guide Setting Billing Rates 133

 Creating Activities
In MYOB AccountEdge terms, the word activity is used to describe a n a non-hourly, non-chargeable activity, specify the unit of
task or service provided by your company for which you can track measurement in the Unit of Measurement field and then go
costs and bill customers on Time Billing invoices. Activities are to Step 7.
primarily defined by their type—hourly or non-hourly—and by their
status—chargeable or non-chargeable. The default Unit of Measurement for hourly activities is Hour. If you
specified a special billing unit of time in the System view of the
To create an activity Preferences window, this field will still display as Hour, but time will
be billed according to the special billing unit.
1 Go to the Time Billing command center and click Activities List.
The Activities List window is displayed. 6 In the Income Account field, specify the account you want to use to
track the income you receive for this activity.
2 Click New. The Activity Information window is displayed.
7 Mark the Taxable when Sold checkbox if this activity is taxable.
3 In the Profile view, enter an Activity ID and Activity Name.
8 Complete the record. If this is:
4 Enter a description of the activity. Mark the Use Description on
Sales checkbox if you want the description of the activity to appear n a chargeable activity, you can either
in the Sales-New Time Billing window instead of the activity name. - edit the history of the activity (click the History tab and click
For detailed field help, click Help. the Help button in that window for more information), or
- complete the record by clicking OK. The new activity will now
5 Specify the type (Hourly or Non-hourly) and status (Chargeable or
be listed in the Activities List window.
Non-chargeable) of the activity by selecting the appropriate radio n a non-chargeable activity, click OK. The new activity will now
buttons. If it is: be listed in the Activities List window.
n an hourly, chargeable activity, choose the billing rate you want
to use. The rate is the price you charge for one unit of the To change, inactivate or delete an activity
activity. You can To change details of an activity, see ‘Changing a Record’ on
- use the rate you set up in the employee or vendor card, page 105.
- use the rate you set up in the customer card, or
To inactivate an activity, see “Inactivating/Reactivating a Record”
- specify a rate for this activity only. Enter the rate in the
Activity Rate field.
on page 107.
n an hourly, non-chargeable activity, go to Step 7. To remove an activity from your records, see ‘Deleting a Record’ on
n a non-hourly, chargeable activity, enter a unit of measurement page 106.
in the Unit of Measurement field and activity rate in the
Activity Rate field.

134 Chapter 10 Billing For Time MYOB AccountEdge, Version 3 us

 Creating Activity Slips
Activity slips are used to record activities performed for a customer ID number and the number of units to be charged. Click Help for a
and forms the basis for the bills you send your customer. You can bill detailed description of the fields in this window.
the full amount for the activity, or bill part of it, leaving the balance
for a later date.
Time Billing gives you two options for creating an activity slip:

l creating a single activity slip, which allows you to enter the most
detail about the activity slip, or
l creating multiple activity slips, which allows you to enter multiple
activity slips at once for an employee, while not entering quite as
much detail for each.

When you create an activity slip, you can enter two cards: one for
the employee or vendor who performed the activity for your
company, and the other for the customer for whom your company
performed the activity. If you’re creating an activity slip for a
3 Enter any adjustments in the Adjustment fields: enter the number
chargeable activity, you must enter both cards.
of units of the adjustment in the first field. You can override the
amount of the adjustment that automatically appears in the
To create a single activity slip
adjacent field.
1 Go to the Time Billing command center and click Enter Activity
You can enter adjustment units or amounts as negative numbers if
Slip.
you want to indicate fewer hours or a lesser amount.
2 In the Single Slip Entry view, enter details about the activity, such
4 Enter any already billed amounts. If you have partially billed the
as the name of the employee who performed the activity, the name
customer on an invoice for this activity, enter the number of units
of the customer for whom the activity was performed, the activity already billed, in the first Already Billed field. (You can override the
amount that appears in the adjacent field.) Your entry is subtracted
from the Billable units and amount. The total units and amount
that haven’t been billed yet appear in the Left to Bill fields.

User Guide Creating Activity Slips 135

 N OTE : Billing an activity In MYOB AccountEdge, “billing” an NOTE : Entering a start time before current system time If
activity slip means recording a Time Billing invoice for the activity you’ve entered a start time that is before the current system time,
slip. If you enter units or an amount in the Already Billed fields of
the difference will be added to the elapsed time measured by the
the Enter Activity Slip window, the amount won’t appear in the
Sales Journal or in the activity’s history, but is only recorded for the timer. For example, if you entered 8:00 a.m. in the Start Time field
activity slip. and then clicked Start at 9:00 a.m., 1:00:00 will be displayed in the
Elapsed Time field and the time calculated by the timer will be
5 Click Record. The activity slip is now recorded and will appear on
added to that amount.
reports. If you entered a chargeable activity on the activity slip, it
will be available for billing in the Prepare Time Billing Invoice
window.

Note that you can record an activity slip by changing views. If you 4 Leave the Enter Activity Slip window open as you perform the
click the Multiple Slip Entry tab while creating an activity slip and activity; this allows the timer to track the time you’ve worked in the
you’ve entered the minimum required information in the Single Elapsed Time field.
Slip Entry view, the activity slip will be recorded before the new tab
5 Click Stop to stop the timer when you have completed the activity
is displayed.
or want to pause the timer. The current system time appears in the
Stop Time field. The elapsed time is entered automatically in the
To create a single activity slip using the timer Units field.
The Enter Activity Slip window has a timer feature which allows You can edit the start and stop times if you want. The entries in the
you to record the time you spend performing an activity. When you Actual Units and Elapsed Time fields will be updated
have completed the activity, the information is already in the Enter automatically.
Activity Slip window, eliminating unnecessary duplication of data
entry. The timer is displayed on activity slips for hourly activities You can round your timer entries in the Actual Units field
only. automatically. See ‘Rounding time in Time Billing’ on page 132.

To use the timer, you must leave the Enter Activity Slip window 6 If you want to resume timing an activity, click Start again. The entry
open until completion of the activity. You can still use other in the Stop Time field will be cleared. The timer will continue
applications or other windows in MYOB AccountEdge during this incrementing, starting from your current elapsed time.
time. 7 Click Record to record the timed activity when you have completed
1 Go to the Time Billing command center and click Enter Activity it.
Slip. The Enter Activity Slip window is displayed.
To reset the timer
2 Enter the required details of the activity slip such as the date,
customer name and activity name. Click Help for detailed field help. Click Clear at any time to clear the Elapsed Time, Start Time and
Stop Time fields and set the Units field to zero.
3 Click Start to start the timer. If you haven’t entered a start time in
the Start Time field, your computer’s current system time appears,
and the timer begins ticking in the Elapsed Time field.

136 Chapter 10 Billing For Time MYOB AccountEdge, Version 3 us

 To create multiple activity slips

In addition to being able to create single activity slips in Time 6 Follow Step 4 and Step 5 for each activity slip you want to create.
Billing, you can also create multiple activity slips together. In the When you’ve entered and recorded all the activity slips you want to
Multiple Slip Entry view of the Enter Activity Slip window, one create, click Cancel to close the window.
line in the list represents one activity slip. Although this view allows
you to enter a little less detail on the activity slip, you can still view
any activity slip in the Single Slip Entry view and enter more detail
at a later stage.
1 Go to the Time Billing command center and click Enter Activity
Slip. The Enter Activity Slip window is displayed.

2 Click the Multiple Slip Entry tab. (For detailed field help, click
Help.)

3 Enter the name of the employee (or vendor) performing the activity
in the Employee field. Any historical activity slips you have created
for the employee/vendor are listed, each line representing a single
activity slip.

4 On the first blank line, enter details of the activity slip you want to
create.

5 Press TAB or click Record to record the activity slip and move the
insertion point to the next line, where you can begin creating a new
activity slip for the employee (or vendor) you entered in the
Employee (or Vendor) field.
NOTE : Activity slips are recorded as you create them, on a line
per line basis Once you have entered an activity slip and pressed
TAB to move to the next line, the activity slip is recorded. If you click
Cancel after moving to the next line, the first activity slip is still
recorded. A white zoom arrow displayed beside an activity slip
indicates that the activity slip has been recorded.

User Guide Creating Activity Slips 137

 Working with Activity Slips
If you record many activity slips, it’s likely that you will want to To change an activity slip
review, make changes to or delete an activity slip at some point.
Follow the relevant set of instructions below. 1 Find the activity slip in the View Activity Log window and click the
zoom arrow next to the activity slip you want to change.
To find and review an activity slip 2 Make the required changes either in the Single Slip Entry view or
the Multiple Slip Entry view and click OK or Record.
1 Go to the Time Billing command center and click Activity Log. The
View Activity Log window is displayed.
To delete an activity slip
2 Enter the name of the employee or vendor who performed the
activity and, if you know it, the date range within which the activity You can only delete an activity slip that has not been billed yet.
was recorded. All activities that fit the criteria are listed. 1 Find and select the activity slip you want to delete in the View
3 Click the Diary View tab and the Detail View tab to display Activity Log window (see ‘To find and review an activity slip’).
different types of information about the activity slip. Click the zoom 2 Go to the Edit menu and choose Delete Activity Slip.
arrow next to an activity slip to view the activity slip in the Enter
Activity Slip window.

Creating Time Billing Invoices

There are two ways of creating a Time Billing invoice in MYOB Prepare Time Billing Invoice window, your activity slip records are
AccountEdge: updated automatically.

l In the Prepare Time Billing Invoice window. This is the 1 Go to the Time Billing command center and click Prepare Time
recommended way, because full details of activities and activity Billing Invoice.
slips are recorded. See below. 2 Highlight the customer for whom you want to create a Time Billing
l In the Sales window. Use this method if you don’t need to record invoice and click OK. The Prepare Time Billing Invoice window is
details of activities and activity slips or track work in progress. See displayed, listing all the open activity slips for the selected customer.
‘To create a Time Billing invoice in the Sales window’ on
3 Prepare the invoice.
page 140.

To create a Time Billing invoice

The Prepare Time Billing Invoice window allows you to enter and
adjust the billing information for activity slips just as you would in
the Enter Activity Slip window. As you make changes in the

138 Chapter 10 Billing For Time MYOB AccountEdge, Version 3 us

 5 If you are selling items on this invoice, enter the following details for
each item:

n Enter the date in the Date field.

A
n Enter the quantity being sold in the Hrs/Units field.
n Enter the item number in the Activity field or press TAB and
B select the item from the list of items and activities that is
displayed.
C
n Enter the price of the item in the Rate field.
D Enter the job number and mark the Tx column if the activity is
taxable. If you want to group and subtotal the items and activities
separately on the invoice, you can do so by inserting headers, blank
A Filters Use these filters to find the required activity slip(s). lines and subtotals as shown below. For more information, see
Click Help for a description of these fields.
‘Adding lines, subtotals and headers to invoices’ on page 63.
B Bill Enter the amount or number of hours you want to
bill for each activity slip here. Any activity slip with 6 Enter additional information about the sale, such as the salesperson,
0.00 units or 0.00 in the Left to Bill column is referral source and shipping. For detailed field help, click Help.
considered billed in full.
7 If you want to assign the transaction to a particular category, click
C Adjustment Enter any adjustments you want to make for each
activity slip here. the search icon to select a category from the Category List.
D Print Options Mark the relevant checkbox if you want to:
• Sort activity slips according to job number.
• Consolidate all activity slips with the same
activity and job number on the invoice.
• Print the activity slip notes on the invoice.
For more information about categories, see ‘Setting up Categories’
on page 43.

4 Click Prepare Invoice. The Sales-New Time Billing window 8 Decide what you want to do with the invoice.
displays the details of the Time Billing invoice. n Record the invoice. Click Record to record the invoice but print
You can enter items on this invoice only if you have set the Include it later.
items preference. See ‘Including items on Time Billing invoices’ on n Print and record the invoice. Click Print. For more information
page 132. about printing invoices, see the Printing Forms chapter on
page 151.
n Save the invoice as a recurring template
Click Save Recurring. Enter the necessary information about
the template in the Save Recurring Template window and
click Save Template. For more information about recurring

User Guide Creating Time Billing Invoices 139

 transactions, see ‘Working with Recurring Transactions’ on 4 In the scrolling list, enter the following details for each activity that
page 116. you are billing the customer:
N OTE :Saving Time Billing invoices as recurring You can save n Enter the date the activity was performed.
Time Billing invoices as recurring invoices, but no activity slips will n Enter the number of units or hours being billed in the
be created when you use the recurring sale in the future. Recording
Hrs/Units field.
the recurring sale also won’t update the activity slips you used to
n Enter the activity name or press TAB in the Activity field and
create the invoice in the Prepare Time Billing Invoice window.
select the required activity from the list.
To create a Time Billing invoice in the Sales window n Enter the rate charged for a single unit or hour of the activity in
1 Go to the Sales command center and click Enter Sales. The Sales the Rate field.
window is displayed. n Enter the job number and category if required.
n Mark the Tx column if the activity is taxable.
2 Click Layout and select the Time Billing layout.
5 If you are selling items on this invoice, enter the details of each item
3 Choose the customer you want to invoice in the Customer field.
in the scrolling list. Complete this step and the rest of the invoice
following step 5 ‘To create a Time Billing invoice’ (see page 139).

Tracking Work in Progress

Work you’ve done for your clients that you haven’t billed yet is To adjust your accounting records to reflect work in
called work in progress. progress
In MYOB AccountEdge, work in progress is represented by activity Activity slips are MYOB AccountEdge’s records of work in progress,
slips for chargeable activities you haven’t yet included on Time but they don’t automatically reflect the value of your work in
Billing invoices. Any activity slip that doesn’t have 0.00 or 0 units progress. Accounting entries are assigned to your linked accounts
left to bill is considered work in progress. automatically only when activity slips are billed on a Time Billing
When you bill your clients on Time Billing invoices, your accounting invoice. If your work in progress routinely represents a significant
records will reflect the sales transactions for the activities you’ve amount of money, you should consider adjusting your accounting
performed. However, from an accounting perspective, some records to reflect it.
accountants consider that your clients owe you for your work in For detailed instructions on how to adjust your books to reflect work
progress, even if you haven’t yet billed your clients for it. in progress, in MYOB Help, choose Time Billing > Creating and
managing activity slips > Tracking work in progress on your balance
sheet > To adjust your books to reflect work in progress.

140 Chapter 10 Billing For Time MYOB AccountEdge, Version 3 us

 Chapter 11
Recording In MYOB AccountEdge, you can enter transactions in a number of currencies in addition
to your home currency, the U.S. dollar. The multicurrency features make it easy to record
transactions in dollars, pounds, euros, yen or any other currency you use when buying and

International selling goods and services. MYOB AccountEdge also makes it easy to track overseas
checking accounts and foreign assets and liabilities.

Transactions
If you deal in multiple currencies, it’s also important to track the effects of currency
exchange rates on your business. MYOB AccountEdge provides detailed reports to help you
manage both unrealized gains and losses (potential changes in the value of overseas
transactions) and realized gains and losses (the actual changes in the value of your assets,
liabilities and equity that occur when you exchange foreign currency for U.S. dollars).

Multicurrency is optional; if all your business is conducted with customers and vendors in
the United States using dollars, there’s no need for you to take advantage of this feature. If
you do want to use multicurrency, you need to mark the I Deal in Multiple Currencies
option in the System view of the Preferences window.

You’ll also have to perform a number of setup steps, which are described in this chapter.
For example, you’ll have to set up special accounts to track the transactions you make in
each currency. If you plan to make sales in pounds, for instance, you’ll need to create a
separate Accounts Receivable account for your sales to customers in the United Kingdom.
Every foreign currency account you create will require a companion account known as an
exchange account to track changes in the value of the transactions assigned to the
account. Only Balance Sheet accounts—asset, liability and equity accounts—can be
assigned a foreign currency. All other types of accounts are tracked using U.S. dollars.
Your local currency, the U.S. dollar, is set up automatically for you. As this currency is used
to determine the value of all other currencies, it can’t be deleted, and its exchange value is
fixed at 1. Before you begin entering transactions, you’ll also need to specify the proper
currency for all your overseas customers and vendors. Only one currency can be used for
each customer or vendor (unless you choose to set up multiple cards for them); this ensures
that your records remain accurate, and it speeds up the task of entering transactions.

141
 You must complete a number of steps before you begin recording Step 3: Create accounts to track foreign-
multicurrency transactions in MYOB AccountEdge. Once setup is currency transactions
complete, you’ll enter multicurrency transactions the same way you
In order to track transactions in a foreign currency properly, you
enter transactions based on U.S. dollars.
must create a number of accounts that are set up to use that
currency rather than U.S dollars. You cannot simply use the same
Step 1: Select the multicurrency option accounts you use for your U.S dollars transactions because the
1 Go to the Setup menu and choose Preferences. The Preferences dollar and other currencies rarely trade at par with one another
window is displayed. (that is, one dollar rarely buys exactly one monetary unit in any
other currency).
2 Mark the I Deal in Multiple Currencies (System-wide) checkbox
in the System tab. NOTE : Foreign currency accounts automatically linked For every
foreign currency account you create, MYOB AccountEdge will
Note that you cannot clear this checkbox once it has been selected. automatically create a linked exchange account. For example, if you
create a Yen checking account, a Yen Exchange account will be
3 Click OK.
created automatically. MYOB AccountEdge uses these ‘dual
accounts’ so that both the foreign currency amount and the local
Step 2: Set up records for foreign currencies currency equivalent of a transaction can be viewed in your Balance
Sheet.
MYOB AccountEdge provides you with records for several
commonly used foreign currencies as well as your local currency. Note that you can let MYOB AccountEdge create the linked
The following currencies have been set up for you already: Exchange account for you or you can specify one yourself. To create
an account, see ‘To add new accounts to your Accounts List’ on
United States dollar, Canadian dollar, European Union Euro, Great
page 103. You will need to select the correct currency and
Britain pound, Australian dollar, Hong Kong dollar, Japanese yen
exchange account in the Account Information window.
and New Zealand dollar.
Before you create an account, however, we suggest you review the
If you do business in any other currency, you’ll need to create a new
following sections to get an understanding of the accounts you
record for the currency. Enter its current exchange rate and indicate
need to create.
how you want amounts in that currency to be displayed. Follow the
instructions below. If you make foreign sales Here’s a list of the accounts you’re likely
to need if you accept payment from customers in a foreign
1 Go to the Lists menu and choose Currency List. The Currency List
currency. Exchange accounts are also required for each of these
window is displayed.
accounts.
2 Click New. The Currency Information window is displayed.
l Asset account for tracking receivables (for instance, “Accounts
3 Enter details of the currency, such as a code, name, and current Receivable-New Zealand”). This account must be assigned the
exchange rate. For detailed field help, click Help in this window. foreign currency and not the U.S.dollar.

142 Chapter 11 Recording International Transactions MYOB AccountEdge, Version 3 us

l Checking account where customer receipts in the foreign way for you to do so. See ‘Tracking Currency Gains and Losses’ on
currency will be deposited. This can be a U.S. funds account if page 146 for more information.
your bank accepts deposits in other currencies.
Depending upon your business, you may need to create additional
l Liability account for deposits received (if you allow customers to accounts to track foreign checking accounts, assets held overseas
make deposits on orders). This account can be assigned the and the like. If you’re unsure about the accounts you’ll need, your
currency code for either the foreign currency or the U.S.dollar. accountant or a MYOB Certified Consultant can assist you with this
NOTE : Grouping with undeposited funds Only receipt task.
transactions which are in U.S. currency may be grouped as a deposit
of undeposited funds. Also, you may only use a U.S currency
Step 4: Assign accounts to foreign currencies
account as the linked account for undeposited funds.
1 Go to the Lists menu and choose Currency List. The Currency List
If you make foreign purchases Here’s a list of the accounts you’re window is displayed.
likely to need if you make payments to vendors in a foreign
currency. Exchange accounts are also required for each of these 2 Click the zoom arrow next to the currency to which you want to
accounts. assign accounts. The Currency Information window is displayed.

l Liability account for tracking payables (for instance, “Accounts 3 Select the required tab. Click:
Payable-Hong Kong”). This account must be assigned the foreign l the Receivable Accounts tab if customers pay you in this currency.
currency and not the U.S. dollar. l the Payable Accounts tab if you pay vendors in this currency.
l Checking account that will be used to pay debts in a foreign
currency. This can be a U.S. funds account if your bank writes 4 Enter the relevant accounts in the appropriate fields. In the bottom
section of the window, mark the options that apply to your
checks for you in other currencies.
business. As you mark options, additional fields will appear, and you
l Asset account for deposits paid (if you make deposits on orders).
can enter the accounts you’ll use to track various parts of your
This account can be assigned the currency code for either the
transactions, such as freight, deposits and discounts. For detailed
foreign currency or the U.S. dollar.
field help, click Help in this window.
l Liability account for import duties collected (if you’re required to
pay duty on goods you import). This account can be assigned the 5 Repeat this procedure for each currency for which you want to
currency code for either the foreign currency or the U.S. dollar. assign accounts.

If you track unrealized gains and losses If you plan to track

unrealized gains and losses, you need to create an income account
for this purpose. You may want to name it “Unrealized Currency
Gain/Loss” or something similar. We recommend that you consult
your accountant to determine whether your business needs to track
unrealized gains and losses and, if you do, the most appropriate

User Guide 143

 Step 5: Assign appropriate currencies to
foreign customers and vendors
The currency used to make a transaction is determined by the
currency assigned to the customer or vendor card you are using.

A card can only use a single currency; so if you deal with a customer
or vendor in multiple currencies, you will need to create a separate
card for each currency.

N OTE :A card with transactions You can’t change the currency of

a card that you have already used in transactions. You will need to
create a new card for the customer or vendor.

You can link any type of card to a currency. Any transactions

recorded for a card must be in the currency linked to the card.

1 Go to the Card File command center and click Cards List. The
Cards List is displayed.

2 Click the zoom arrow next to the required card to display the Card
Information window. Make sure the Profile tab is selected.

3 Enter the currency you want to assign to the card in the Currency
field. (The local currency is selected by default.) Click the search
icon to make a selection from the currency list.

4 Click OK. Repeat this procedure for each card that you want to
assign a foreign currency.

144 Chapter 11 Recording International Transactions MYOB AccountEdge, Version 3 us

Creating Multicurrency Transactions
Once you’ve set up your currencies, you can begin entering To change the default exchange rate
transactions for them. Entering these transactions is easy—they’re
1 Calculate the exchange rate first using the Currency Calculator. See
just like standard transactions in U.S. dollars.
‘Using the Currency Calculator’ on page 148.
Multicurrency transactions can be recorded in the following areas in
2 Click Exchange Rate at the bottom of the transaction window. The
MYOB AccountEdge:
Exchange Rate window is displayed.
l Sales, Receive Payments, and Settle Returns & Credits
l Purchases, Pay Bills, and Settle Returns & Debits
l Spend Money, Receive Money, Reconcile Accounts and General
Journal entries.

Note that multicurrency is not available for Payroll, Inventory or

Time Billing functions.

Specifying the exchange rate for a transaction 3 Enter the new exchange rate in the Transaction Exchange Rate
When entering a transaction, you can either use the default field.
exchange rate for the currency or enter a new rate for that
This will only affect the transaction that is currently displayed.
transaction, which will override the default.
If you want to change the exchange rate for all future transactions
that use this currency, mark the Update Current Exchange Rate in
the Currency List with Transaction Exchange Rate checkbox.

4 Click OK.

User Guide Creating Multicurrency Transactions 145

Tracking Currency Gains and Losses
Whenever you have a foreign bank account, changes in the Sales & Purchases
currency exchange rates between that country and your home
At the time a currency gain or loss is realized, that is, a payment is
country can cause the value (as stated in your home currency) of
received or made, an automatic posting is made to the Currency
your foreign bank account to fluctuate. When your local currency
Gain Loss account and to the exchange account for the foreign
weakens relative to the foreign currency, the value of your foreign
currency.
account increases, creating a currency‘gain.’ When your local
currency strengthens, your foreign account experiences a ‘loss’ in The Currency Realized Gain/Loss report lists the currency gains and
value. Multicurrency can track these fluctuations. losses that have been automatically posted through sales and
purchases during the month for foreign currency transactions.
Gains or losses in the value of a foreign account are considered
unrealized while the money is still sitting in the foreign account.
EX AM P L E
When the money is withdrawn from the account, either by using it
to pay for a purchase or by converting it to local currency, the gain Say you sell goods for $145 U.S. at an exchange rate of 1.45 dollars
or loss is considered realized. to the pound to a British customer. MYOB AccountEdge records the
sale at $145 and records the £100 owed by the British customer.
Using MYOB AccountEdge’s dual accounting system, $100 is
Tracking realized currency gains and losses
posted to the British receivables account (which is actually $100 on
Realized currency gains and losses are tracked differently in MYOB the Balance Sheet), $45 to the British receivables exchange account
AccountEdge. For realized gains or losses on sales and purchases, a and $145 to the sales account.
posting is automatically made to the Currency Gain Loss account,
whereas for realized currency gains and losses on In the following month, the British customer pays their account by
transfers—deposits and withdrawals—you need to make a General depositing £100 into your London Checking account, but the
Journal entry to the Currency Gain Loss account to record the exchange rate has changed from 1.45 to 1.3. dollars to the pound.
currency gain or loss. The deposit is valued at $130.

When you activate multicurrency in MYOB AccountEdge, a

Currency Gain Loss account is automatically created.

N OTE :Large foreign currency exposure If you have a large

foreign currency exposure, you may require a more detailed analysis
than posting to a single Realized Gains/Losses account provides. In
this case, we recommend that you consult your accountant for
further advice about managing your foreign currency exposure.

146 Chapter 11 Recording International Transactions MYOB AccountEdge, Version 3 us

You originally made a sale that at the time was worth $145. When values the withdrawal at $140. You put £100 into the account that
you received payment, it was worth only $130. Therefore the $15 at the time was worth $145. When you withdrew the £100 from the
difference is a realized currency loss, and will be posted to the account, it was worth only $140. Therefore, the $5 difference is a
British Receivables exchange account. realized currency loss.
If you looked at your Balance Sheet, you would see a zero value for
the London Checking account, but $5 remaining in the London
Checking exchange account. You need to post the $5 in the
exchange account to your Currency Gain Loss account.

Unrealized currency gains and losses

Transfers
An unrealized gain or loss is a potential gain or loss at any point in
Currency gains and losses that occur through the transfer of funds time between the recorded sale or purchase and the receipt/issuing
need to be recorded by a General Journal entry. of payment. No automatic postings are made to track unrealized
gains or losses on foreign currency transactions.
At the end of the month, you can look at the value of your foreign
accounts and use MYOB AccountEdge’s Currency Calculator (from Not all businesses need to track unrealized currency gains or
the Help menu) to calculate their ‘true’ values in local currency at losses—you should check with your accountant to determine
that time. whether or not your business needs to track them.
You can then create a General Journal entry where losses are posted The Currency Unrealized Gain/Loss report lists the gain or loss
as credits to the exchange account with a corresponding debit to made on each foreign currency. You can then use this information
your Currency Gain Loss account. Gains are posted as debits with a to make adjusting postings to each of your foreign currency
corresponding credit to your Currency Gain Loss account accounts for your Balance Sheet and also to a Profit & Loss account.

EX AM P L E

Say the original balance in your London Checking account is zero;

then you transfer $145 U.S. at an exchange rate of 1.45 dollars to
the pound into your London Checking accoount. The $145 is
converted to £100 and deposited it into your London Checking
account. Using its dual account system, MYOB AccountEdge posts
$100 to the London Checking account (which is shown as $100 on
the balance sheet), and $45 to the London Checking exchange
account.
The following week you withdraw that £100 from the bank at an
exchange rate of 1.4 dollars to the pound. MYOB AccountEdge

User Guide Tracking Currency Gains and Losses 147

Working with Multicurrency
Using the Currency Calculator Multicurrency reports
If you receive a payment for a foreign currency invoice in your local There are three specific multicurrency reports, which are accessed
currency, you can use MYOB AccountEdge’s Currency Calculator to from the Accounts tab of the Index to Reports window:
quickly calculate the exchange rate based on the foreign and local
l The Currency List report, which lists all your currencies with their
amounts, or to calculate the foreign amounts based on the local
currency code, currency symbol and current exchange rate.
amounts and the exchange rate.
l the Currency Realized Gain/Loss report, which displays realized
You can access the Currency Calculator from any window in MYOB gains or losses on transactions per account.
AccountEdge. Go to the Help menu and choose Currency l the Currency Unrealized Gain/Loss report, which displays
Calculator. Click Help for help on using the calculator. unrealized gains or losses on transactions per account.

Reconciling accounts containing foreign Transferring funds to a foreign account

transactions
You may want to transfer funds from a local currency account to a
When you are reconciling your bank statement, the foreign foreign account. This is easily done in MYOB AccountEdge through
currency transaction amounts listed in your statement will often not the Spend Money window.
match those listed in MYOB AccountEdge. This is because the
exchange rate used by the bank is different from that used in MYOB 1 Display the Spend Money window.
AccountEdge at the time of the transaction. 2 In the Account field, enter the local currency Checking account
There are two methods by which you can allow for this: from which the check is being written.

l If you have your security preferences set to allow records to be 3 Click Currency and choose the (foreign) currency of the account in
changed, simply click the zoom arrow for the transaction in the which you want to make a deposit.
Reconcile Accounts window to zoom to the original transaction. 4 Enter the date, amount, payee, memo and check number.
Click Exchange Rate and change the exchange rate to match the
bank statement. 5 In the Account # (or Name) field in the scrolling list, enter the
account to which you want to allocate the transaction and record
l If you have the security preferences set not to allow changes to
the transaction.
records, just click the zoom arrow next to the transaction, choose
Reverse Check Transaction from the Edit menu, and re-enter
the check with the correct exchange rate.

148 Chapter 11 Recording International Transactions MYOB AccountEdge, Version 3 us

 Entering foreign currency transactions in a
local account
In MYOB AccountEdge, you can enter foreign currency transactions
in a local currency account. For example, you can accept a check
from a British customer in pounds and bank it in an a U.S. checking
account.

EX AM P L E

Let’s look at an example of how to accept a foreign currency check

into a local currency account. Our example uses British pounds.
Let’s also assume the exchange rate has changed from 1.45 to 1.6
since you made the original sale.

1 Display the Receive Payments window.

2 Select the customer. The currency for this customer card is British
pounds; so the currency button displays GBP. You have received a
check from your customer for £5,000 for an outstanding invoice
and you want to bank it in your U.S. checking account.

3 Process the customer payment in the usual way, but make sure you
enter your U.S. checking account in the Deposit to Account field.

4 Click Exchange Rate to check the default currency rate for the
British pound to the U.S. dollar. Change the rate from the default
rate of 1.45 to 1.6 and click OK.

5 Enter £5,000 in the Amount Received field and allocate it to the

outstanding invoice.

6 Record the payment.

User Guide Working with Multicurrency 149

150 Chapter 11 Recording International Transactions MYOB AccountEdge, Version 3 us
Chapter 12
Printing In MYOB AccountEdge, the term ‘form’ refers to the printed documents you give clients,
vendors, and employees. This includes invoices, statements, packing slips, bills, checks,
and mailing and shipping labels.

Forms MYOB AccountEdge uses a system of sophisticated filters to locate the forms you may need
to print or reprint. For example, you can choose to print only unpaid and unprinted service
invoices within a particular date and invoice number range. MYOB AccountEdge also
gives you the ability to print forms as you enter your transactions. Simply click Print when
entering checks, invoices, bills, etc., and MYOB AccountEdge will print your transaction
using your previously selected form.

The appearance of forms can be extensively customized to suit your own purposes. The
most commonly customized forms are invoices and statements, but checks, bills and
labels can also be customized. You can change the size of the form, print multiple forms
on a single page, change fonts, move fields, create text fields and add your own logos and
graphics to forms. You can also create multiple forms of one type. You might, for example,
create one invoice with your logo and another without it.

This chapter gives you detailed instructions about printing and customizing your forms.
The process is very similar to that used by drawing and database applications.
You should be aware that your forms are stored within their own Forms folder within the
MYOB AccountEdge folder. This allows you to share forms among your company files and
easily transfer them from one computer to another.

151
Finding Forms
Each MYOB AccountEdge form can be found in the command P U RCH AS ES CO M M A ND CE N T ER
center in which the form’s associated transaction was entered.
Type of form To find the form, click:
B AN K IN G CO M M AN D CE NT E R
Purchases (item, service and professional) Print Purchase Orders

Checks (payable) Print Checks

Type of form To find the form, click:

Checks Print Checks

P AY R O LL CO M M A ND CE N T ER

S AL ES CO M M A ND CE N T ER
Type of form To find the form, click:

Paychecks Print Paychecks

Type of form To find the form, click:

Sales (item, service, time billing and professional) Print Invoices

CAR D FIL E C O M M AN D C EN T E R
Packing slips (item, service and professional) Print Invoices

Labels (item, service, time billing and Print Invoices

Type of form To find the form, click:
professional)
Mailing labels Print Mailing Labels
Statements (invoice and activity) Print Statements
Personalized letters Create Personalized Letters

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Printing Forms
Before you begin printing any forms, make sure your printer is set In the top portion of the Forms Selection window, choose the
up properly. See ‘Preparing to Print Reports and Forms’ on various elements that you want to appear on your forms, including
page 170 for more information. the type of information you want to print, the status of the
transactions you want to print, and the date range and transaction
Once you’ve found the form you want to print, you’re ready to
numbers that apply to the form you plan to print.
make some decisions about how to print it. In general, there are
four steps you need to follow to print a form:
Step 2: Choose a form layout
l ‘Choose the information you want to print’ below.
The bottom section of the Forms Selection windows allows you to
l ‘Choose a form layout’ below.
choose the layout you want to use when you print your forms. A
l ‘Review the forms you’ve selected for printing’ on page 154.
number of layout choices are available, depending upon the type of
l ‘Print the forms’ on page 154. form you’re currently working with.

l Select the pre-printed form layout if you want to print a form’s

Step 1: Choose the information you want to
information onto paper that already contains lines, columns and
print
headings. The pre-printed layout is designed to match most
Display the Forms Selection window for the form you want to commonly used forms provided by third-party forms vendors.
print. This window varies slightly, depending upon the kind of form l Select the plain paper form layout if you want to print a form’s
you want to print. information onto blank paper. Lines, columns and headings are
automatically printed with the form’s information.
l Select a user-customized form layout if you want to print a form
you’ve customized using the Customize window. See ‘Adding
Elements to a Form’ on page 157 for more information about
MYOB AccountEdge’s forms-customization tools.

User Guide Printing Forms 153

 Step 3: Review the forms you’ve selected for Step 4: Print the forms
printing When you’ve finished reviewing the information that appears in this
Before you begin printing, you can to review the information that window, you’re ready to print. Click Print in the Review Before
will be printed on your forms. Printing window.

L Click OK in the Forms Selection window. The Review Before

Printing window is displayed, with the information that fits the
criteria you specified in the Forms Selection window.

C
D

A B

A Print column A transaction is marked for printing when a mark

appears next to it in this column. If you don’t want
to print a form for a transaction, click in this
column next to the transaction to remove the
mark.

B Zoom arrow Click the zoom arrow to view more information

about a particular transaction.

C Print xx Copies field Enter the number of copies you want to print.

D Packing Slips/Labels If you want to print packing slips or mailing labels

immediately after printing your invoices, enter the
number of copies in these fields.

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 Customizing Forms
MYOB AccountEdge’s forms customizing feature allows you to
change the look and content of your printed checks, invoices,
packing slips, shipping labels, statements, bills, paychecks and
mailing labels.

You can change the size of a form, add text fields, draw lines and
boxes, paste graphics on the form, move fields, change the size of
fields and more.

You can save your customized forms and simply select the required
form as the occasion demands.

C AUTION :Saving backups of customizing forms Make a backup

of your Forms folder before customizing any forms so you can
always revert to the originals. After customizing forms, you should
A B C D E
consider making further backups of the Forms folder containing
your custom forms.
A Preview button Click Preview to view your form on your computer
screen.

Step 1: Display the form in the Customize B Inactive data fields Inactive data fields are shown in dimmed text and
window won't be printed on your form unless you activate
them. You can hide inactive data fields by choosing
1 Display the Forms Selection window for the form you want to Hide Inactive Fields from the Form menu at the
top of the screen. To re-activate them, choose
customize. Show Inactive Fields from the Form menu.

2 When you’ve finished making selections in the Forms Selection C Tool palette The tool palette provides you with customization
window, click Customize. The Customize window is displayed, and tools for your forms.

the Form menu appears in the menu bar at the top of the screen. D Text fields Text fields don't have surrounding boxes like data
fields do. What you see in a text field is what
actually gets printed.

E Active data fields Active data fields are ready to be printed on a form.
You can inactivate active data fields so they don't
display on your form. See ‘To inactivate a data
field’ on page 159.

User Guide Customizing Forms 155

 A note about customizing checks

A check has two parts—the check and the stub. To customize the 1 In the Customize window, click Preview. The Print Preview
entire check, you’ll need to customize the stub form and the check window displays the form.
form separately. Once the check is displayed in the Customize 2 If you want to view the form in more detail, click the zoom buttons
window, you can switch between the stub layout and the check on the left side of the Print Preview window.
layout by using the Form menu.
3 If you want to check your current printer and page settings, click
L Go to the Form menu at the top of the screen and choose the Print Setup.
appropriate stub layout, for example Regular Stub Layout or
Payable Stub Layout. 4 When you’ve finished previewing the form, click OK in the Print
Preview window.
For more information, in MYOB Help, choose Reports and Forms >
Customizing forms > Tips for customizing checks.
Step 5: Save the customized form

Step 2: Set up form properties When you’re satisfied with the changes you’ve made to the form,
you should save the customized form.
1 Go to the Form menu and choose Forms Info. The Forms
Information window is displayed. l If you want to save changes to a custom form you created
previously, click Save Form.
2 Specify the number of forms you want to print per page.
l If you want to create a new custom form layout that contains the
3 Choose the required type of paper from the Page pop-up list. changes you’ve made, click Save Form As. The Save As dialog
box is displayed; enter a name and a brief description for the new
4 Enter the margins for the page.
layout and click OK.
5 Specify the width and length of the form (not the paper) in the
Form Size field. For example, if you are printing four checks per Step 6: Print the customized form
page, enter the width and length of a single check.
Printing a customized form is the same task as printing an
unchanged MYOB AccountEdge form.
Step 3: Customize the form using the Tool
palette 1 Display the Forms Selection window for the form you customized.

Customize the form according to your needs. For more 2 In the bottom section of the window, select the customized form
information, see ‘Adding Elements to a Form’ on page 157. you want to print.

3 Click OK to begin the printing process.

Step 4: Preview the customized form
At any time during the customization process, you can display an
on-screen preview of your work.

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 Adding Elements to a Form
You can add new elements—data fields, text fields, lines, rectangles To draw a rectangle on a form
and pictures—to your form in the Customize window.
1 Click the rectangle tool and then click the location on the form
where you want the top left corner of the rectangle to appear; a
To add a text field to a form
cross appears on your computer screen.
1 Click the text tool, and then click the location on the form where 2 Drag the cross to where you want the bottom right corner of the
you want the new text field to appear. A new text field, labeled rectangle to appear, and then release the mouse button.
“Text Field,” is displayed.

2 Double-click the new field. The Field Information window is To add a picture or logo to a form
displayed. You can load PICT, TIFF and JPG files directly to a MYOB
AccountEdge form. If the picture you want to use is in a format
3 Type the text you want to appear in the new field you created, in
other than PICT (for example JPEG or GIF), you can copy that
the Text field of the Field Information window.
graphic onto the clipboard and then paste it on the form. You can
4 Click OK to close the Field Information window. The new field display nearly any picture that appears on the clipboard, regardless
containing the text you typed is displayed in the Customize of its original format.
window.
1 If the graphic is in a format other than PICT, copy the graphic to the
If the text you entered is longer than the size of the new text field, clipboard using your graphic application.
you may need to change the size of the text field. For more 2 Click the picture tool in the Customize window in MYOB
information, see ‘To change the size of a data field, text field, AccountEdge. Then click the location on the form where you want
rectangle or picture’ on page 158. the picture to appear. A picture field appears.
3 Double-click the picture field. The Field Information window is
To draw a line on a form displayed.

1 Click the line tool and then click the location on the form where you l If the graphic is a PICT, TIFF or JPEG, file, click Load. The Open
want the line to begin; a cross appears on your computer screen. dialog box is displayed. Select the PICT, TIFF or JPEG, file and click
Open. The graphic appears in the Field Information window.
2 Drag the cross to where you want the line to end and then release
l If the graphic is in a format other than PICT, TIFF or JPEG, (and
the mouse button.
you have copied it to the clipboard), click Paste Picture. The
graphic appears in the Field Information window.

4 Click OK to close the Field Information window. The picture is

displayed in the Customize window.

User Guide Adding Elements to a Form 157

 To activate a data field Two small squares—called “handles”— appear on each end of the
line.
1 In the Customize window, double-click the field you want to
activate. The Field Information window is displayed. 2 Drag either handle so that the line is the required length.

2 Click the Active radio button.

To change the font characteristics of several fields
3 Click OK. at once

1 Holding down the SHIFT key, click those fields for which you want to
To copy and paste a data field
change the font, so that they are all selected.
1 Click the data field once to select it. 2 Go to the Form menu at the top of the screen and choose Change
2 Go to the Edit menu and choose Copy. Fonts.

3 If you want to paste the data field onto another form, display that 3 Change the font type and size and click Apply to Selected.
form in the Customize window.
To change the font characteristics of a single data
4 Go to the Edit menu and choose Paste. A copy of the data field field or text field
appears in the window.
1 Double-click the field you want to change. The Field Information
window is displayed.
Changing elements on the form
You can make changes to the data fields, text fields, lines, rectangles 2 Make your choices in the Justify, Font, Size and Style fields in this
and pictures on your form in the Customize window. window and click OK.

To change the size of a data field, text field, To change the text in a text field
rectangle or picture 1 Double-click the text field in the Customize window. The Field
1 Highlight the field you want to change; a solid line appears around Information window is displayed.
it. 2 Change the text in the Text field of the Field Information window.
A small square, called a handle appears in the bottom right corner 3 Click OK.
of the field.

2 Simply drag the handle to change the size of the field. To change the thickness of a line or rectangle

1 Double-click the line or rectangle in the Customize window. The

To change the length of a line Field Information window is displayed.
1 Select the line you want to change. 2 Choose a thickness in the Line Size section of the Field
Information window.

158 Chapter 12 Printing Forms MYOB AccountEdge, Version 3 us

3 Click OK. To remove a text field, line, rectangle or picture
from a form
Moving elements around on the form L Select the element and press DELETE on your keyboard.
You can change the position of the data fields, text fields, lines,
rectangles and pictures on your form in the Customize window. To inactivate a data field

There are two ways to move an element in the Customize window: If you don’t want a particular data field to be printed on a form, you
can inactivate the data field.
l Use the pointer to select the element you want and drag it to the
new location. 1 In the Customize window, double-click the field you want to
l Change the element’s exact coordinates. inactivate; the Field Information window is displayed.

2 Click the Inactive radio button

To drag an element to a new location
3 Click OK.
1 Click the element and hold down the mouse button. Notice that
the cursor turns to a hand. To hide inactive fields
2 Drag the element to the desired location. In the example below, the 1 Choose Hide Inactive Fields from the Form menu at the top of the
Invoice # field is being dragged below its original position. screen. All inactive data fields are hidden.

2 To display these fields again, choose Show Inactive Fields from the
Form menu.

To change an element’s coordinates

1 Double-click the element you want to move. The Field Information

window is displayed.

2 In the Field Location boxes, enter the distance from the top and left
edges of the form where you want the element to begin.

3 Click OK.

Removing elements from the form

You may want to remove some of the text fields, lines, rectangles
and pictures on your form in the Customize window.

User Guide Adding Elements to a Form 159

160 Chapter 12 Printing Forms MYOB AccountEdge, Version 3 us
Chapter 13
Using MYOB AccountEdge allows you to see your business from over a hundred different
perspectives because that’s how many reports you have at your fingertips. These reports
provide you with comprehensive information about your business, from detailed lists of

Reports your business’s activities to highly summarized reports.

These reports are all grouped by command center in the Index to Reports window; so
finding the report you need is the easy task it should be. Just recall the command center
you used to enter the information you need; then look at the reports for that command
center. For example, the Accounts command center deals with accounts and General
Journal entries; so this is where you will find account inquiries, profit & loss reports and
balance sheet reports. The Sales command center deals with sales to customers; so this is
where you will find detailed and summarized reports outlining your sales sorted by
customer, item, amounts outstanding, and more. If you need more information, just look
at the report description to the right of the report in the Index to Reports window.
Once you have found the report you want, you can display the report on screen, open the
report in Microsoft Excel, print the report, or e-mail or fax the report. You can also save the
report as a text file readable by most applications, as a HTML report suitable for the
Internet, and as a Portable Document Format (PDF) file.

MYOB AccountEdge even allows you to customize the look and content of many reports to
suit your own needs. Make sure you spend some time looking at the reports. You will be
amazed by the information MYOB AccountEdge makes available to you about your
business.

161
Finding Reports
You can easily locate reports using the Index to Reports window. For detailed information about the fields in the Index to Reports
window, click Help.
l Go to the Reports menu and choose Index to Reports. The
Index to Reports window is displayed. For guidelines and tips for using the many reports available in
MYOB AccountEdge, in MYOB Help, choose Reports and Forms, click
the topic MYOB Report Advisor.

A B C D E F G

A Click a tab to view the reports associated with that

tab. Click Custom to view your custom reports.

B Highlight a report and click View Sample to view a

sample of that report.

C Click Print to print the selected report.

D Click Send To to send the selected report by fax or

e-mail, to save the report to disk as a PDF file,
HTML file or text file, or to open the report in
Microsoft Excel.

E Click Customize to choose the information you

want to appear on the selected report and how
you want that information to appear.

F Read a short description of the report you have

selected here.

G Click Display to view an on-screen version of the

selected report.

162 Chapter 13 Using Reports MYOB AccountEdge, Version 3 us

Customizing Reports
MYOB AccountEdge gives you complete control of the content and To filter reports using the customize button
appearance of your reports. You can customize your reports in three
1 Go to the Reports menu and choose Index to Reports. The Index
different ways:
to Reports window is displayed.
l Determining the amount of information to include on a report,
2 Locate the report you want to print and highlight it. Then click
see ‘Filtering reports’ below.
Customize at the bottom of the window. The Report
l Choosing the type of information to include on a report, see
Customization window is displayed. The filters in the Report
‘Designing reports’ on page 164.
Customization window vary, depending upon the report you’re
l Determining the appearance of a report, see ‘Formatting reports’ filtering.
on page 165.

You can use any combination of these three methods to customize

a report. If you want, you can customize a report, print it
immediately, and then revert the report back to its original settings. A
Alternatively, if you want to retain a report’s modifications, you can
customize the report and save it. When you save a customized
B
report, the report is known as a custom report and appears in the
Custom tab of the Index to Reports window.

Filtering reports
You can control the amount of information that appears on your
reports by using filters. Filters allow you to choose specific pieces or
ranges of data that can be included on a single report. For example, A The top section of the Report Customization
window typically allows you to choose the range of
if you want to print a Customer Payments (Closed Invoices) report topics that will be included in the report.
for customer Eileen Martin for the months of May to July, you can
B The middle section of the Report Customization
use MYOB AccountEdge’s filters to select those criteria only. window typically allows you to choose ranges of
criteria, such as dates, that will be included in the
report.

3 Make the required entries and selections in the Report

Customization window.
You can now print or display the report with the filters you selected.

User Guide Customizing Reports 163

 To filter reports using the report toolbar T HE Q U E S T IO N M ARK

You can use the report toolbar to make changes to the filtering l Using the question mark wildcard, you can limit your report to
options of the report. This toolbar allows you to change basic elements that contain only a specific number of characters. For
filtering options, such as date ranges and sorting options without example, to limit the report to three-character jobs that begin
having to display the Report Customization window. You can also with C, enter C?? in the Selected field in the Report
choose to display a screen report or a print preview of the report. Customization window
See ‘To display reports on your computer screen’ on page 167.

1 Go to the Reports menu and choose Index to Reports. The Index

to Reports window is displayed.
Designing reports
2 Locate the report you want to view or print. Highlight it and click
Display. The Screen Report window is displayed. Using the Report Designer, you can choose what type of
information you want to include in reports. For example, if you
3 Make the required entries and selections in the toolbar that is
want to print the average cost of items on a sales report, you can
displayed in the top section of the Screen Report window.
choose to do so by designing the report so it includes the average
4 Click Redisplay. The report is refreshed with the new filtering cost.
options applied. To make further filtering selections, click
TIP
Customize. See ‘To filter reports using the customize button’ on
Reordering columns If you want to change the order in which the
page 163 information is printed on your reports or displayed on screen, display the report
and choose Screen Report from the View drop-down list. You can then drag the
Using wildcards to filter reports Wildcards are special characters column headers to their new position.
that give you more flexibility in selecting various records, such as
account numbers and invoice numbers, to print on reports that use
1 Go to the Reports menu and choose Index to Reports. The Index
that type of information. You can use two wildcard characters, the
to Reports window is displayed.
asterisk (*) and the question mark (?), when filtering your reports.
2 Locate the report you want to design and highlight it.
T HE AS T ER IS K
3 Click Customize. The Report Customization window is displayed.
l Using the asterisk in the Report Customization window allows
you to print a report for a specific group of records. For example,
to select only the accounts whose numbers begin with 1, enter 1*
in the Selected field in the Report Customization window.

164 Chapter 13 Using Reports MYOB AccountEdge, Version 3 us

4 Click Design at the bottom of the window. The Report Design Formatting reports
window displays the fields that are available to be printed on the
You can modify the look of individual reports by using different font
report you’ve selected.
styles, sizes, colors, alignments and effects, and by changing the
report’s page margins.

1 Go to the Reports menu and choose Index to Reports. The Index

to Reports window is displayed.

2 Locate the report you want to format and highlight it.

3 Click Customize. The Report Customization window is displayed.

4 Click Format. The Report Format window is displayed.

A B
A

A The fields in the Field Name column are those that C

are available for the selected report. Mark a field's
Display column to include that field on the report.
Drag the fields up or down the column to indicate
the order in which you want the fields to be
printed on the report. The fields at the top of the
Report Design window will appear at the left end
of the report. D
B Fields marked with an X in the Display column are B
set to be printed on the selected report.

A The left side of the Report Format window

5 Click OK when you have finished. contains all the sections of the report you're
working with. Click a section to begin making
changes to it.

B If you’ve formatted a report and want to change it

back to its original format, click this button.

C After choosing the section of the report you want

to customize, make selections from the lists and
boxes here.

D Make entries in the margin fields to change the

report's margins.

User Guide Customizing Reports 165

5 Click OK when you have finished.

Saving custom reports

If you plan to use a specific report’s design and format many times
in the future, you can customize the report once and save the
changes so you can use the modified report whenever you want.

1 Customize your report using the filters, and design and format tools
available in the Report Customization window. When you’ve
finished in each window, make sure you click OK to record your
changes.

2 Display on-screen (by clicking Display) the report you want to save
as a custom report.

3 Reorder or resize the columns if required. See ‘To display reports on

your computer screen’ on page 167.

4 Click Save As. The Save As dialog box is displayed.

5 Enter a name and a brief description of the custom report and click
OK. The Screen Report window is displayed again.

6 Click Close. The Index to Reports window is displayed.

7 Click the Custom tab. Your custom report will be listed here.

You can perform the same tasks with custom reports as you do with
any other MYOB AccountEdge report, including printing them,
displaying them on your computer screen, and saving them as files
on disk. See ‘Working with Reports’ on page 167 for more
information.

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 Working with Reports
Once you’ve chosen the report you want to print and have made pop-up menu, make the necessary changes and then choose Print
the customizations you need, you’re ready to see the finished Preview again.
product. In MYOB AccountEdge tasks, you can perform these tasks
5 Click Print.
with reports:

l ‘To print reports on your printer’ below To display reports on your computer screen
l ‘To display reports on your computer screen’ below
By clicking the Display button in the Index to Reports window,
l ‘To save reports to files on disk’ on page 168 you can display an on-screen version of the report in the MYOB
l ‘To send reports by e-mail’ on page 168 AccountEdge system. This view of the report enables you to resize
l ‘To send reports by fax’ on page 168 columns and rearrange columns. When viewing the screen report,
l ‘To view the report in Microsoft Excel’ on page 169 page breaks, page numbers, the company name and address are
not displayed. To view a print preview of the report, see ‘To print
To print reports on your printer reports on your printer’ below.

You can print reports individually or in batches (see ‘Printing Report 1 Go to the Reports menu and choose Index to Reports. The Index
Batches’ on page 172). Before you can print a report or a report to Reports window is displayed.
batch, however, you need to make sure your computer, printer, and 2 Locate the report you want to view or print. Highlight it and click
MYOB AccountEdge system are properly set up for printing (for Display. The Screen Report window is displayed.
more information, see ‘Preparing to Print Reports and Forms’ on
3 Make your changes to the screen view of the report:
page 170).
l Drag the column header of a column to move it to a new
1 Go to the Reports menu and choose Index to Reports. The Index
position.
to Reports window is displayed.
l Position the mouse cursor over the (*) icon of a column header
2 Locate the report you want to view or print. Highlight it and click and then drag it to resize the report column. Only columns that
Display. The Screen Report window is displayed. have this icon can be resized.
3 Make any changes to the column positions or sizes. See ‘To display 4 Click Save As to save the new report layout as a Custom Report.
reports on your computer screen’ below This new format will be available from the Custom tab of the Index
4 Choose Print Preview from the View drop-down list in the report to Reports window (see ‘Saving custom reports’ on page 166 for
toolbar to check the layout and format of the report before you more information).
print it. To make changes, choose Screen Report from the View

User Guide Working with Reports 167

 To save reports to files on disk

When you save a report as a file, you have the flexibility to do appearance of the report is as similar as possible to a printed version
whatever you want with the report—you can further modify it using of the report.
a word-processing application, move it to another computer for When you select the format you want to use, the Save dialog box is
printing or simply save it for your permanent records. displayed.

1 Go to the Reports menu and choose Index to Reports. The Index 4 Specify a name and location for the file you’re creating and click
to Reports window is displayed. Save.

2 Locate the report you want to display and highlight it.

To send reports by e-mail
3 Click Send To and choose one of the following formats:
1 Go to the Reports menu and choose Index to Reports. The Index
l PDF (Portable Document Format) File. to Reports window is displayed.
n If the recipient is using Mac OS X, save the report as a PDF file.
2 Locate and highlight the report you want to e-mail.
The person who receives the report can simply double-click to
open. 3 Click Send To and choose E-mail. The E-mail window is displayed.
n If the recipient is not using Mac OS X, save the report as a PDF
4 Enter an e-mail address in the E-Mail Address field and make other
file. The person who receives the report must have software
entries as required.
capable of opening a PDF file. To view a PDF file, you need
Adobe Acrobat Reader, a free application distributed by Adobe 5 Click Send. The e-mail is sent to your default e-mail application’s
Systems. You can install Acrobat Reader from your MYOB Outbox. Send the file from your e-mail application as you would
AccountEdge CD-ROM or download for free from the Adobe normally.
website.
l HTML File. When you save a report in HTML (Hypertext Markup To send reports by fax
Language) format, the report can be viewed in World Wide Web 1 Go to the Reports menu and choose Index to Reports. The Index
browsers such as Internet Explorer. to Reports window is displayed.
l Tab-Delimited Text File. When you save a report in tab-
2 Highlight the report you want to fax.
delimited format, the individual bits of information in the report
are separated by tab characters. 3 To send fax:
l Comma-Separated Text File. When you save a report in n OS 8.6- 9.x users Click Send To and choose Fax. A dialog box
comma-separated format, the individual bits of information in from your fax application is displayed.
the report are separated by commas. n Mac OS X users Click Send To and choose Print and select
l Simple Text File. When you save a report in text format, the the print driver for your fax software.
individual bits of information are separated by spaces so the
4 Use your fax application as you normally would to send the fax.

168 Chapter 13 Using Reports MYOB AccountEdge, Version 3 us

 To view the report in Microsoft Excel

You must have Microsoft Excel installed on your computer.

1 Go to the Reports menu and choose Index to Reports. The Index

to Reports window is displayed.

2 Highlight the required report.

3 Click Send To and choose Excel. Microsoft Excel starts and the
selected report is displayed in Excel.

User Guide Working with Reports 169

 Preparing to Print Reports and Forms
If you’ve properly set up your printer and computer, printing your printer. Printer drivers are not included in the MYOB
reports and forms using MYOB AccountEdge usually takes only a AccountEdge package.
few clicks of your mouse. This section contains important
To ensure you have the latest printer software drivers, visit the
information about setting up your printing environment so you can
manufacturers website. More information about setting up your
successfully print your MYOB AccountEdge information.
printer with your computer is located in the documentation for
your computer and printer.
Preparing your printer
Preparing MYOB AccountEdge for printing
If you plan to print documents on paper using a printer, bear in
mind that your printer must be configured properly before the You’ve got a number of options within MYOB AccountEdge for
information can be printed. MYOB AccountEdge is compatible with personalizing your printed documents and determining the process
most popular printers, but each type of printer on the market today by which you print reports and forms. This section describes those
is different from the next. If you’re unsure about how your options.
computer works with your printer or if you’ve had printing
problems in the past, make sure you understand the capabilities of To choose page setup options
your printer before you attempt to print MYOB AccountEdge
The selections you make in the Page Setup window determine how
documents.
your documents will look on paper.
1 Make sure that your printer is properly connected to your
The Page Setup window varies, depending upon the printer and
computer.
printer driver software you use. Usually, however, these windows
2 Turn your printer on. allow you to choose options such as your page orientation, paper
size and print quality.
3 Load the paper you want to use and make sure it’s loaded properly.
1 Go to the File menu and choose Page Setup.
Preparing your computer 2 Review your page setup information before you attempt to print an
A great deal of the printing process is controlled by software used to MYOB AccountEdge document.
send information to your printer. This software, commonly known
as printer driver software, is normally supplied by your printer’s To choose default fonts for reports and forms
manufacturer. Printer drivers play a large part in determining Every report and form in MYOB AccountEdge is assigned a default
how—and whether—information is printed using your printer. In font—that is, a font that’s automatically designated for your use by
many cases, printer drivers are already installed on your computer MYOB AccountEdge—when you begin using a new MYOB
when you purchase it, or are supplied on CD when you purchase AccountEdge company file. Until you change it, the font assigned

170 Chapter 13 Using Reports MYOB AccountEdge, Version 3 us

 when you created the company file will be the default font for all
your reports and forms.

Note that the changes you make in the Report Format window
won’t affect any reports or forms that you have already customized.

1 Go to the File menu and choose Default Fonts. The Default Font
Selection window is displayed.

2 Click either Reports or Forms, depending upon the type of

document for which you want to change the default font.

3 Choose the font style and size for the printed characters on your
documents. When you choose a font style and size for reports, use
the sample box in the right half of the window to preview how the
font looks.

4 Click OK when you have finished.

User Guide Preparing to Print Reports and Forms 171

 Printing Report Batches
Report batches are groups of reports you set up that allow you to 4 Click OK. The Report Batches window is displayed again, with the
print several reports at a time. You can set up report batches to serve name of the new batch in the scrolling list. To print the report
a number of purposes. For example, you may want to create a report batch, see the following section for instructions.
batch that contains all your regular monthly financial statements;
with a few clicks of the mouse, you can start the printing process so To print a report batch
the reports print while you work on other important tasks. Report 1 Display the Report Batches window.
batches are created and maintained in the Report Batches and 2 Select the relevant period from the Period drop-down list.
New/Edit Batch windows. Printing a report batch is slightly different
You can choose any of the months or quarters in the current fiscal
from printing an individual report. Instead of making entries and
year, or you can choose to print information for the entire year to
selections in the Report Customization window before you print,
date.
you’ll use the Report Batches window to choose the reporting period
Your selection in the Period list affects different types of reports in
for the batches you want to print.
different ways. For example, if you choose January, Activity reports
N OTE :Single-user access Please note that this task requires single- will show job activity information from January 1 to January 31 and
user access. For more information, see “Tasks that require single-user
Balance Sheet reports will show information as of January 31.
access” on page 193.
3 Choose a report batch for printing and click Print.
To create a report batch
To change a report batch
1 Go to the Reports menu and choose Report Batches. The Report
1 Display the Report Batches window.
Batches window is displayed.
2 Highlight the name of the batch you want to change and click Edit.
2 Click New and enter an appropriate name for the batch.
The Edit Batch window is displayed.
3 Choose the reports that belong to the batch by clicking the name of
You can change the name of the batch and the reports contained in
each report. A mark will appear next to each selected report,
the batch.
indicating that it is included in the new batch.
3 Click OK to save your changes.
To remove a report from the batch, click the name a second time.

N OTE : Some reports can’t be included in batches Some reports,

To delete a report batch
such as the Reconciliation report, can’t be added to report batches 1 Display the Report Batches window.
because you need to specify information to be printed each time
you want to print the report. 2 Highlight the name of the batch you want to delete.

3 Go to the Edit menu and choose Delete Batch.

172 Chapter 13 Using Reports MYOB AccountEdge, Version 3 us

Chapter 14
End of It is important to ensure that your accounting records are accurate. Reconciling the
accounts on a regular basis will help you and your accountant know that your books are
complete and balanced.

Period You should reconcile your system with any source documents and resources available to
you. For example, the checking account can be reconciled with the bank statement,

Procedures
vendors’ balances can be checked against statements, and customers’ balances verified. If
possible, your inventory should be counted, valued and, where necessary, adjusted in
MYOB AccountEdge.
Other end of month procedures include reviewing your trial balance, budgets and cash
flow, paying payroll taxes and purging information that is no longer needed.
End of year procedures are carried out at the end of your fiscal year and include any
adjustments you need to make to your system so it agrees with your accountant’s final
records, such as recording depreciation. You also need to make sure that any matters that
need attention in the current year are finalized. Then follow the procedures in this chapter
to reconcile the system and to close the year. By closing the year in MYOB AccountEdge,
you are effectively bringing the company file up to date and removing information not
required in the new year. This will also make the system more efficient and manageable.

If you use the Payroll feature in MYOB AccountEdge, there are additional procedures that
you need to complete at the end of the year. This involves printing W-2 forms and 1099
statements, reviewing payroll reports and closing the payroll year.

173
Month-end Procedures
The following is a list of tasks we suggest you complete at month- Step 1: Review your trial balance
end. Depending on the nature of your business, some of these tasks
Reviewing a Trial Balance report—also known to accountants as a
may not apply to you.
general ledger—regularly is an optional month-end task, but it can
Month-end procedures are usually performed at the end of every make your job easier in the future. If you regularly review your trial
month, but they can be done at any time during the month. The balance, you'll spot incorrectly recorded amounts quickly and will
key to success is to perform these tasks regularly. Some tasks need be able to fix them without much effort. If you decide to skip this
to be performed at a specified time every month. Consult your procedure, however, and an error appears, you may find yourself
accountant if you're unsure which of these tasks are required for sifting through several months’ worth of transactions trying to find
your business. the one that's incorrect.

The Trial Balance [Detail] report can be found in the Accounts tab of
Step Action the Index to Reports window. For more information on filtering,
1 Review your trial balance displaying and printing reports, see ‘Using Reports’ on page 161.

Review and adjust budgets When you review the Trial Balance report, look for:
2

Review cash flow n Entries that seem unusually high or low for the account that
3
has been affected
4 Review the order status of items n Debit amounts for accounts that normally have credit entries
Purge information that’s no longer needed and vice versa
5
n Unusually high or low ending balances
6 Reconcile checking accounts n An unusually high or low number of entries for a specific
Pay payroll taxes account
7

Complete other month-end procedures (optional)

If the information in the Trial Balance report is acceptable, print the
8
reports you want to keep as part of your permanent business
9 Verify and back up your company file records. Suggested reports include the Balance Sheet, Profit and
Lock the accounting period (recommended)
Loss Statement, Payables Aging report, Receivables Aging report
10
and all journal reports.

174 Chapter 14 End of Period Procedures MYOB AccountEdge Version 3 us

Step 2: Review and adjust budgets As each company's business practices are unique, we can't tell you
precisely what you should look for when reviewing your cash flow.
Reviewing the monthly amounts you've budgeted for your
Your accountant can give you additional ideas based on the way
accounts will help you keep your fingers on the pulse of your
your company does business.
business. The best way to do this in MYOB AccountEdge is to
consult a special balance sheet called the Balance Sheet [Budget To view the Cash Flow Worksheet:
Analysis] report, that's designed specifically for budget analysis.
1 From any command center, click Analysis and hold down the
You can print the Balance Sheet [Budget Analysis] report, which lists mouse button. Then choose Cash Flow from the list that
your accounts' actual balances for the current month, along with appears.The Cash Flow Worksheet window is displayed.
the amounts you budgeted for them. If you've determined that
2 Click Help in the Cash Flow Worksheet window for information on
changes need to be made to the amounts you've budgeted for the
using this window.
coming months, you can adjust your budget.

The Balance Sheet [Budget Analysis] report is available from the Step 4: Review the order status of items
Accounts tab of the Index to Reports window. For more
Knowing what items you have on hand is fairly simple. Knowing
information on displaying and printing a report, see ‘Using Reports’
which items are on order from vendors and promised to customers
on page 161.
is more complicated. Many businesses keep what they call an
For more information on what to look for when reviewing your “order book.” It's what they use to track the comings and goings of
budget, in MYOB Help, see Month-end tasks > Performing month- inventory items.
end tasks > Reviewing and adjusting budgets > To review your budget
The Analyze Inventory window functions as your “order book” by
inventory items.
monitoring what you have on hand, on order from vendors, and
committed to customers (sales orders).
Step 3: Review cash flow
To display the Analyze Inventory window, go to the Inventory
Having an acceptable supply of available cash can often make a
command center and click Analysis.
huge difference in determining how well your company performs
next month. In MYOB AccountEdge, you can use the Cash Flow The Analyze Inventory window allows you to review the current
Worksheet window to estimate your short-term cash needs by status of the items you’ve entered into the MYOB system. Note that
using information you've entered throughout MYOB AccountEdge the fields in this window are display-only; that is, you cannot
to create a forecast of the future of your checking accounts. change any of the information using this window.

The information used in the Cash Flow Worksheet window to

forecast cash needs comes from recurring Spend Money and
Receive Money transaction information that you've entered in
MYOB AccountEdge, as well as the sales and purchases that will fall
due during the time frame you've selected.

User Guide 175

Step 5: Purge information that's no longer statement with those in the system. Matched transactions will
needed automatically appear as cleared in the Reconcile Accounts window.
Any transactions that appear on your bank statement that have not
After you’ve used MYOB AccountEdge for a long time, you'll notice
been entered in MYOB AccountEdge can be added to the system by
that the size of your company file has grown considerably.
following a few simple steps. You can also manually match a
Information such as journal entries, invoices, bills, activity slips and
transaction on your bank statement with a transaction in MYOB
business contacts build up over time. When your company file has
AccountEdge. Statements are imported by using Get Statement in
grown larger than you want it to, you may want to remove parts of
the Reconcile Accounts window or the Bank Register. For
the data that are no longer needed from the file. The process of
instructions, see “Importing Statements into MYOB Accounting
removing data from your company file is called purging.
Plus” on page 69.
Business contacts can be purged at any time.
To reconcile your checking account
You can purge activity slips that haven't been billed on invoices. If
you've billed an activity slip on an invoice, you can purge that 1 Go to the Banking command center and click Reconcile Accounts.
activity slip only if the invoice on which it was billed has been The Reconcile Accounts window is displayed.
purged.
2 Enter the account you want to reconcile in the Account field.
For more information on purging data, in MYOB Help, choose
3 Enter the ending balance on your bank statement in the New
Month-end tasks > Performing month-end tasks > Purging information
Statement Balance field.
thats no longer needed.
4 Enter the closing date that appears on your bank statement in the
Step 6: Reconcile checking accounts Bank Statement Date field. Only transactions dated on or before
that date will appear in the scrolling list.
To ensure the accuracy of your business records, you should keep a
record of your checking accounts’ balances matched up with your 5 If you haven’t already imported your bank statement and would like
bank's records. This task is called reconciling accounts. to, click Get Statement in this window. See “Importing Statements
into MYOB Accounting Plus” on page 69 for instructions.
Before you reconcile your checking account
6 Mark all the checks and deposits that are on your bank statement by
Before you reconcile your account, you need to make sure that all clicking in the column on the left in the Reconcile Accounts
the checks and deposits that appear on your bank statement are window.
entered in MYOB AccountEdge. If you’ve imported your statement and matched the statement
transactions with those in MYOB AccountEdge, you will notice that
Importing bank statements into MYOB AccountEdge If you have
these transactions have a mark in the column on the left, indicating
online banking, you can speed up account reconciliation by
that they are already cleared.
importing your bank statement into MYOB AccountEdge and
having MYOB AccountEdge match the transactions on your bank

176 Chapter 14 End of Period Procedures MYOB AccountEdge Version 3 us

7 If you need to record a bank service charge or interest that appears AccountEdge, a previously cleared deposit may have been
on the statement, click Bank Entry and enter these amounts. For deleted and not re-entered, or re-entered but not marked as
field help, click Help in the Record Service Charges and Interest cleared.
Earned window. Click Record.

8 Click Reconcile in the Reconcile Accounts window. A window is Step 7: Pay payroll taxes
displayed, indicating whether your account is reconciled or out of Payroll taxes need to be paid on a regular basis. Consult your
balance. accountant or the appropriate government agencies if you're
n If your account is reconciled, you have the option of printing unsure about how or when to file payroll taxes.
the Reconciliation report by clicking Print Report You can use the Tax Liabilities report to determine the taxes you
(recommended). Once the report is printed, the Reconcile owe to the government agencies. The amounts on the Tax
Accounts window is displayed again. Click Reconcile again to Liabilities report reflect the payroll tax amounts recorded on
complete the reconciliation process. paychecks.
If you don’t want to print the report, simply click Reconcile.
The Tax Liabilities report is available from the Payroll tab of the
The transactions you marked are considered cleared, and
Index to Reports window. For more information on filtering,
won’t appear in the Reconcile Accounts window the next
displaying and printing reports, see ‘Using Reports’ on page 161.
time you display it.
n If your account is out of balance, a window will indicate the Once you've determined the payroll tax amounts you owe, you
amount by which your account is out of balance, and will need to create a Spend Money transaction to pay payroll taxes to
provide you with a few ideas of how the out-of-balance the appropriate government agencies.
situation might have occurred.
In the Account # (or Name) column of the Spend Money window,
Here are some additional things you might want to verify:
enter the linked liability account you've selected to track each
n Are all the checks and deposits that appear on your bank payroll tax. When the transaction is recorded, the liability account
statement marked in the Reconcile Accounts window? Check will be decreased by the amount you've entered for each payroll
to be sure the deposit and withdrawal amounts that appear on tax.
the Total Cleared line near the bottom of the Reconcile
Accounts window are the same as the total deposit and
Step 8: Complete other month-end procedures
withdrawal amounts on your bank statement.
n Did you mistakenly mark a transaction that doesn't appear on Many procedures in MYOB AccountEdge can also be considered
your bank statement? month-end procedures. The following procedures might be
n Did you make the correct entry in the New Statement performed at the end of the month at your company:
Balance field? (Make sure you entered the ending balance l Print customer statements (see ‘Printing Forms’ on page 151).
from your statement and not your beginning balance.)
l Analyze sales (see ‘Reviewing your Sales Information’ on
n Are all deposits accounted for? If the bank statement shows a
page 65).
higher balance than the balance calculated by MYOB

User Guide 177

 l Analyze purchases (see ‘Reviewing your Purchase Information’ on selection in the Preferences window so that month is “unlocked.”
page 80). For example, if you choose March as your locked month, April
l Count items in inventory (see ‘Counting Inventory’ on page 93). becomes available for transaction entry again.
l Record unrealized gains and losses (see ‘Unrealized currency
gains and losses’ on page 147).

For additional information on completing the above tasks, in MYOB

Help, choose Month-end tasks, click the topic Month-end tasks >
Performing month-end tasks > Other month-end procedures.

Step 9: Verify and back up your company file

We strongly recommend that you make a backup of your company
file and check the file for errors during the backup process. For
instructions, see ‘Backing up your Company File’ on page 187.
Mark this backup clearly and put it in storage as part of your
permanent records.

Step 10: Lock the accounting period

After you have completed your month-end tasks, we suggest that
you “lock” that month using the Lock Periods feature. This will
prevent you from inadvertently making an entry in a month in
which you don't want new entries.

1 Go to the Setup menu and choose Preferences. The Preferences

window is displayed.

2 Click the Security tab.

3 Mark the Lock Periods: Disallow Entries Up to and including

(System-wide) checkbox and choose the relevant month from the
drop-down list.

This selection merely places a temporary lock on the month you

selected and all months before it. If, at a later time, you need to
make an entry in a locked month—for example, you locked May
and now want to make an entry in April—you can change your

178 Chapter 14 End of Period Procedures MYOB AccountEdge Version 3 us

Year-end Procedures
This section describes the tasks you need to perform at the end of
your fiscal year and at the end of your payroll year (if you use the
Payroll feature) to prepare your MYOB AccountEdge system for the
coming year.

End of payroll year

You must close the payroll year in the last month of your payroll
year or soon after. Otherwise, you will not be able to enter
paychecks for the next payroll year. You should close your payroll
year first before closing your fiscal year. For more information, see
‘Starting a New Fiscal Year’ on page 180.

End of fiscal year

MYOB AccountEdge doesn’t require that you close your fiscal year
at any particular time. You can continue to use MYOB AccountEdge
for up to twelve months after the last month of your current fiscal
year without concern. MYOB AccountEdge allows you to track
information for the previous, current and next fiscal years.
(However, if you don’t close your fiscal year at the end of your
current fiscal year, you won’t be able to print current information on
some reports.) See ‘Starting a New Fiscal Year’ on page 180.

User Guide Year-end Procedures 179

Starting a New Fiscal Year
Complete the tasks listed below to close your fiscal year and start a restore a backup of the company file. For more information, see
new fiscal year. ‘Backing up your Company File’ on page 187.

Step Action Step 4: Start a new fiscal year

1 Print reports If you have completed steps 1 - 3, you are now ready to start a new
fiscal year.
2 Verify your company file
To the best of your ability, make sure that all transactions for the
3 Back up your company file
year that’s ending are entered in MYOB AccountEdge before you
4 Start a new fiscal year begin closing the year. That way, you can avoid making adjusting
General Journal entries in the new year and your yearly records will
5 Optimize your company file
be more accurate. This will also make it easier for you to compare
your company’s performance from one year to the next. If you have
an accountant who produces your year-end financial reports, you
Step 1: Print reports
may need to wait for your accountant to provide you with any
Print all the reports that you want to keep that show the previous adjusting entries that may be needed.
year’s transaction activity. You might consider printing a copy of
When you start a new fiscal year:
each journal, because they show all transaction activity for a
specified period. l The previous fiscal year’s monthly totals for all accounts are
changed to “last year” categories. If “last year” amounts already
Step 2: Verify your company file existed, those amounts will be replaced.
l All closed sales, closed purchases and journal entries assigned to
Verify your company file to check for inconsistencies and minor
closed sales and closed purchases are purged.
errors before they cause serious problems. For instructions, see
‘Checking your company file for errors’ on page 190. l The balance of your current-year earnings account is transferred
to your retained earnings account.
l The balances of your income, cost of sales, expense, other
Step 3: Back up your company file
income and other expense accounts are returned to zero.
We strongly recommend that you make multiple backups of your
company file before closing the year and that you store these If you want, the new fiscal year can be changed so it ends in a
backups in different locations. After you start a new fiscal year, the different month than the previous fiscal year. (If you choose to make
only way you can view the detail of transactions that were purged this change, check with an accountant about how to report
from the company file during the Start a New Year process is to information for a “short” fiscal year.)

180 Chapter 14 End of Period Procedures MYOB AccountEdge Version 3 us

 NOTE : Single-user access Please note that the task of starting a
new fiscal year requires single-user access. For more information, see
‘Tasks that require single-user access’ on page 193.

To start a new fiscal year

1 Go to the File menu and choose Start a New Year and then Start a
New Fiscal Year. The Start a New Fiscal Year Assistant is displayed.

2 Follow the instructions that appear on your computer screen. Click

Help in these windows if you need help.

Step 5: Optimize your company file

After you start a new fiscal year, we recommend that you optimize
your company file. Optimizing your company file reduces its size
and makes it more efficient. See ‘Optimizing your company file’
on page 190.

User Guide Starting a New Fiscal Year 181

Starting a New Payroll Year
Complete the tasks below to close your payroll year and start a new and Year-end Tasks > Performing year-end tasks > Working with 1099
payroll year. vendors and statements.

You can enter or change amounts that print on W-2 forms and 1099
Step Action statements by manually adjusting the amounts that were calculated
1 Process the last paychecks for the year by MYOB AccountEdge. If, for example, you want to print a 1099
statement for a vendor whom you haven’t designated a 1099
2 Print year-end payroll forms
vendor, you can enter the amounts you wish to print on the 1099
Print payroll reports statement for the vendor. The changes won’t affect transactions or
3
reports in MYOB AccountEdge; the changes will only print on the
4 Back up your company file
W-2 forms and 1099 statements. You can also choose to revert to
Start a new payroll year the amounts calculated by MYOB AccountEdge.
5

Optimize your company file For more information on entering or changing amounts that print
6
on W-2 forms and 1099 statements, in MYOB Help, click Year-end
Tasks > Performing year-end tasks > To enter or change amounts that
Step 1: Process the last paychecks for the year print on a 1099 statement.

You must make sure that all paychecks for the current payroll year
have been entered. For more information, see ‘Paying your Step 3: Print payroll reports
Employees’ on page 193. Print the following payroll reports at a minimum:

l Register report. This report shows the pay history of your

Step 2: Print year-end payroll forms employees.
You can use MYOB AccountEdge to print W-2 forms for your l Activity (Summary) report. This report shows the paychecks that
employees and 1099 statements for your vendors to use at tax time. have been recorded but will not include manual adjustments
Information for W-2 forms and 1099 statements is tracked using the made in an employee’s Pay History window (in their card).
Current Payroll Year for your company file.
Review these reports to spot potential issues or concerns. Look for
For more information on printing W-2 forms and 1099 statements, figures that seem out of the ordinary or unexpected.
in MYOB Help, click Year-end Tasks > Performing year-end tasks >
Printing year-end payroll forms.

182 Chapter 14 End of Period Procedures MYOB AccountEdge Version 3 us

 Step 4: Back up your company file Step 6: Optimize your company file
Before you start a new payroll year, make sure you make a backup of After you start a new payroll year, we recommend that you optimize
your company file. Once the year is closed, detailed payroll your company file. Optimizing your company file reduces its size
information is no longer available and W-2 forms, 1099 statements and makes it more efficient. For more information, see ‘Optimizing
and other reports cannot be printed for that year. If you’ve made a your company file’ on page 190.
backup, however, you can restore that backup and print the
necessary documents.

For more information, see ‘Backing up your Company File’ on

page 187.

Step 5: Start a new payroll year

NOTE : Single-user access Please note that this task requires single-
user access. For more information, see ‘Tasks that require single-user
access’ on page 193.

1 Go to the File menu, choose Start a New Year and then Start a
New Payroll Year.

2 Follow the directions onscreen, which will prompt you step-by-step

through the process. Click Help in these windows for detailed help.

Starting a new payroll year will:

l clear the payroll history from the employee cards for the previous
year.
l prevent you from printing payroll reports for the previous year.
l prevent you from editing or deleting paychecks for the previous
year.

If you have set up a vacation pay employer expense as an Accrual

type and have selected to carry over remaining expenses to the next
year, MYOB AccountEdge will carry over those balances to the new
payroll year.

User Guide Starting a New Payroll Year 183

184 Chapter 14 End of Period Procedures MYOB AccountEdge Version 3 us
Chapter 15
Maintaining This chapter is about protecting your data. Your company’s accounting information is kept
in a single, convenient file called the “company file” in MYOB AccountEdge. This includes
your Accounts List, details about your customers, vendors and employees, your list of

Your items, and all your transactions.

Every time you record a transaction, it is written to the hard disk. Theoretically, there is no

Company
limit to the number of transactions you can enter in MYOB AccountEdge—the only
constraint is that a very large company file might compromise performance.

Now, think of how much time you have spent customizing your company file, setting it up

File and entering all your transactions. Imagine having a computer failure and having to do it
all again. You wouldn’t want to start over; that’s why it’s important to know what you can
do to avoid such a situation. You need to know how to back up, restore and verify your
company file.
You may need to restore a backup at any time, as a simple bump of the computer or a power
surge can cause a computer to restart at just the wrong time and corrupt a company file.
Company files can also be lost by hard disk failures and theft. In all cases, the only
protection is a backup. If possible, you should keep your backup separate from your
computer—preferably off-site.

Sometimes you might not realize you have a problem. Company file corruptions can hide in
the file until you attempt to access that part of the file with the error. MYOB AccountEdge
provides the Verify Company File function to protect you against this. We recommend
that you check your company file for errors before you back up and as you open it in the
morning.

Please read this chapter carefully and practice verifying, backing up and restoring your
company file.
This chapter also shows you how to use passwords to prevent people from accessing
confidential data. You can have a master password for your entire company file and sub-
passwords to protect individual areas of your company file, such as payroll.

185
 Setting up Passwords
In MYOB AccountEdge, you can use a security system based on a To set up sub-passwords
master password and several sub-passwords. The master password is
used to control access to the entire MYOB AccountEdge system; this 1 Click New in the Password Access window.
password is used to create sub-passwords. You can have only one 2 Enter the new sub-password and click Record New Password. The
master password in a single company file. Password Access window is redisplayed, with the new sub-
Sub-passwords are used to control access to various sections of the password appearing in the list on the left side of the window.
MYOB AccountEdge system, such as individual command centers. If 3 Make sure the sub-password is highlighted in the list.
your system uses passwords, you’ll enter the password when you
start MYOB AccountEdge or switch from one company file to 4 Select the command centers and windows that users with this
another. Users will be able to access those areas to which their password won’t have access to by clicking the appropriate names.
password has been assigned access privileges. You can set up any When you select a command center or a window, an X will appear
combination of sub-passwords in your security system. in the Not Allowed column next to the label you selected. If you
select a command center or a window that opens other windows,
Make sure single-user file locking is on before you set up passwords an X will also appear next to the names of the other windows.
(see “Tasks that require single-user access” on page 193).
5 Click OK. The new sub-password you’ve created becomes active.
To set up the Master password For information on changing passwords, changing a sub-
password’s access rights and deleting a password, in MYOB Help,
Make sure you write down the password in a safe place.
choose Setup > Creating and using passwords > Using master
1 Go to the Setup menu and choose Preferences. The Preferences passwords and sub-passwords.
window is displayed.
2 Click the Security tab and then click Password. The Set up
Passwords window is displayed.
3 Enter your master password and click Record New Password. You
can type in upper or lowercase; passwords are not case-sensitive.

4 Review the password you typed and click OK. The Password Access
window is displayed.
5 Either exit the password windows by clicking OK, or begin setting
up sub-passwords in the Password Access window (see ‘To set up
sub-passwords’ below).

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Backing up your Company File
Your business generates an enormous amount of data. Computers AccountEdge 2002-03 Yearly Archive. Make this backup
are very reliable, but not perfect. You should back up (make copies immediately before running Start A New Year.
of) your MYOB AccountEdge data on a regular basis. l Backup before upgrade. Before you upgrade to a new version of
Backing up is the copying of computer files to some form of storage MYOB AccountEdge, you should always back up your company
device. If you have a relatively small company file, you can simply file.
copy the MYOB AccountEdge company file to a separate CD. Put your monthly and yearly backups in a safe place, preferably
Otherwise, you can use MYOB AccountEdge’s automatic backup to away from your office. Do not use these disks again. You can
create a compressed version of your company file (with a ‘.sit’
reload these backups to look at information you may have
extension).
purged later on or to produce certain backdated reports.
Don’t put your backups on the same hard drive as MYOB
NOTE : Single-user access Please note that making a backup
AccountEdge—a single disaster can wipe out all your records.
requires single-user access. For more information, see “Tasks that
Do make multiple backups. Sometimes disks fail in subtle ways. A require single-user access” on page 193.
disk failure can corrupt a big chunk of your data in such a way that
you may not notice it during a session. Once you copy the To make a backup of your data
damaged data onto your only backup, you’re stuck: you will not
have a valid backup and will need to re-create your company file. The Backup command creates a backup of the company file you're
Multiple backups give you a greater degree of protection. currently using, and compresses it to a smaller, more manageable
size.
When to back up your data NOTE : Back up customized documents Any customized forms,
reports, OfficeLink letters or spreadsheet templates you’ve created
We recommend: should be backed up with your company file. Select Backup all data
l Daily backups—Rotational. If you use MYOB AccountEdge every when you are backing up customized documents.

day, make a backup disk for each day of the week. If you use 1 Select the correct disk for the backup you are doing (daily, monthly,
MYOB AccountEdge on a more sporadic basis, make two backup yearly, as specified in ‘When to back up your data’ on page 187). If
copies and rotate them. Label them clearly each time to keep this is the first time you are doing this type of backup, select a newly
track of which is your most recent backup. formatted disk and label it clearly. Insert the disk into the disk drive.
l Monthly backups—Archival. After completing all entries for a 2 Go to the File menu and choose Backup. The AccountEdge
month, make an archive copy and label the disk—for example, Company File Backup dialog box is displayed.
MYOB AccountEdge November 2002 Archive.
NOTE : If the backup process does not work When you installed
l Yearly backups—Archival. After completing all entries for a year, MYOB AccountEdge, special software used for the backup process
make an archive copy and label it, for example, MYOB was also installed. If a message is displayed when you try to use the
Backup command, this software may have been removed from the

User Guide Backing up your Company File 187

 location where it needs to exist. You may need to reinstall MYOB
AccountEdge to use this feature.

3 Decide the type of backup you want.

n To back up your company file and templates, mark the Backup
all data checkbox.
n To back up your company file only, mark the Backup
Company File only checkbox.

4 Choose whether you want to check for errors before making your
backup and click Continue. We recommend checking for errors, so
that should you need to revert to a backup, data integrity is
ensured. The Save dialog box is displayed.
5 Specify the location where you want to store the backup file.

6 Name the backup file or accept the default name. Make sure the file
is saved with the extension ‘.sit.’ In this exampe, we are saving the
MondayBackup.sit file to a CD.

7 Click Save to begin creating your backup file. You may get a
message saying that the file exists. Make sure you are not
overwriting another backup you want to keep.

Make sure you label all your backups with enough information to
tell you when they were done and where you were up to in data
entry– for example ‘Monday 8/9/02’ or ‘Backup as of 8/9/02.’

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 Restoring a Backup of your Company File
The Restore command closes the company file you’re currently A message is displayed, letting you know that the backup file will be
using, decompresses an MYOB AccountEdge backup file so you can saved with a suffix of ‘.old’ — for example Fothergill & Co.old.
use it and opens the backup file. If you are just reviewing historical information, leave the name as it
While the Restore function will not let you restore a file with the is. If you intend to go on using this restored copy as your primary
same name as one already in the location to which you are company file, you should rename it after the restore is complete.
restoring, you should always be aware of the risks with restoring 5 Click OK to complete the restore.
files and the possibility of overwriting a file you need. If you aren't
careful, this is one area which potentially can cause you many hours
of lost work. When in doubt, take an additional backup before
restoring. Be sure to label all backups with enough information to
tell you when they were done and where you were up to in data
entry.
NOTE :Single-user access This task requires single-user access. For
more information, see “Tasks that require single-user access” on
page 193.

To restore a backup
1 Select the disk from which you want to restore and insert it in the
disk drive.

2 Go to the File menu and choose Restore. The Open dialog is

displayed.
3 Choose the backup file you want to restore. The current disk being
accessed is displayed on the top section of the window. Select the
disk in which you stored your backup file. A list of all files on the disk
is displayed. Select the file you need with the mouse and then click
Open.
4 Choose the destination for the restored file. You should restore the
company file to the same folder which contains your MYOB
AccountEdge application (usually the MYOB AccountEdge folder).
Choose the disk and then the folder to which you want to restore
the company file, and then click Choose.

User Guide Restoring a Backup of your Company File 189

 Working with your Company File
Checking your company file for errors purposes. We recommend that you use the MYOB AccountEdge
Optimization Assistant to remove the unused areas in the company
In addition to having MYOB AccountEdge automatically check your
file and keep your accounting software running in top form.
company file for errors before a backup, you can check your
company file any time you choose.
Purging information that is no longer needed
By checking your company file for errors, you can catch minor
inconsistencies in the file before they cause serious problems Purging is the process of removing data from your company file.
After you’ve used MYOB AccountEdge for a long time, you’ll notice
Single-user access This task requires single-user access. For
N OTE :
that the size of your company file has grown considerably.
more information, see “Tasks that require single-user access” on
page 193.
Information such as journal entries, sales, purchases, activity slips,
business contacts and sales history figures build up over time. When
To check your company file for errors your company file has grown larger than you want it to, you can
remove the parts of the data that are no longer needed from the
1 Got to the File menu and choose Verify Company File. A file.
confirmation dialog box is displayed.
For instructions on purging data, in MYOB Help choose Month-End
2 Click OK to confirm that you want to verify your company file.
Tasks> Performing month-end tasks and click the topic Purging
MYOB AccountEdge will scan your company file for errors.
information that’s no longer needed.
When the file verification process is complete, a message will be
displayed, describing the results of the process. Unable to open company
n If no errors were found, congratulations! Click OK to end the file—troubleshooting
company file verification process.
When a MYOB AccountEdge company file is open, a temporary file
n If your company file is corrupted, you will need to restore from
called a lock file is created in the folder where the company file is
your most recent backup. See ‘Restoring a Backup of your
stored. This file, called Lock0001.flk, keeps track of who is using the
Company File’ on page 189.
company file. When all users have logged out of the company file,
the lock file is deleted automatically.
Optimizing your company file
Sometimes, however, the lock file may not delete itself
Over time, your MYOB AccountEdge company file will grow
automatically. This can happen if your computer crashes or an error
considerably in size. As you enter transactions, then remove or
causes your company file to close unexpectedly. Locked files can
purge them, the file will have unused areas that once contained
accumulate in the company file folder even when no company files
these transactions. These unused areas can affect the efficiency with
which MYOB AccountEdge works with the company file and they are in use; this can result in error messages appearing when you try
consume space on your hard disk that can be used for other to access your company file again.

190 Chapter 15 Maintaining Your Company File MYOB AccountEdge, Version 3 us

To resolve these error messages, you must make sure that all users
log out of the company file and close down their MYOB
AccountEdge software. You then need to view the folder that
contains the company file and delete any lock files that it contains.
You should then be able to open your company file without an
error.

A lock file should not be deleted when you are

C AUTION :

optimizing your company file.

P O S SI B L E ER RO R M ES S AG E S T HAT M AY A P P EAR AS A
RE S U LT O F L O CK FIL E S

Someone else is currently signed on with the same User ID This

message indicates that either someone is using the company file
with your User ID or that a lock file from a previous session still
exists.

No more than ten company files in any folder may be opened at

one time While it’s unlikely there are actually ten company files
open in your MYOB AccountEdge folder, this message indicates
there are ten lock files in the folder, and only ten lock files can be
created in one folder.

You have reached the maximum number of simultaneous users

allowed under your MYOB AccountEdge Workstation License If
you know this is incorrect, the problem may be a lock file.

User Guide Working with your Company File 191

Using your Company File on a Network
The power behind MYOB AccountEdge lies in its ability to run on How passwords work in a network
your company's network, with more than one person using the environment
same company file at the same time. Using this power, you'll be able
You can safeguard your company's accounting data by setting up
to get more of your accounting functions completed more quickly.
passwords that prevent people from using parts of the company file
MYOB AccountEdge operates a little differently from software
that they don't need to use. See ‘Setting up Passwords’ on
programs that don't run on networks. As your accounting records
page 186 for information on setting up passwords.
are vital to your business, it's important for you to understand how
MYOB AccountEdge works in your network environment. The way When you use the Password Access window to restrict access to
you set up a company file in MYOB AccountEdge can affect the specific windows in MYOB AccountEdge, you may also restrict
people in your company who use the company file. access to information shown in lists and reports throughout the
entire MYOB AccountEdge system. For example, if you set up a
N OTE :This section on using your company file on a network
password so 'Person A' can't use the Purchases window, 'Person A'
applies to you only if you are using Mac OS version 8.6 or
version 9 If you are using Mac OS X, please refer to the Late- will also be restricted from seeing any entries created in that
Breaking Changes section in the MYOB Learning Center for more window in MYOB AccountEdge, such as those that normally appear
information on Mac OS X and multi-user capability. in the Purchases and Payables Journal report or the Find
Transactions window. This ensures that 'Person A' has no
How preferences work in a network opportunity to view your company's purchasing records. Any
environment information that doesn't apply to purchases, however, would still be
Some of the preferences you can choose in the MYOB AccountEdge displayed.
Preferences window can affect how everyone works with your
company file. As these preferences, known as system-wide
preferences, may affect other people, it's a good idea to be aware of
the effects of each selection you make in the Preferences window.

Each system-wide preference is clearly marked with the word

System-wide in the Preferences window.

For more information about preferences, in MYOB Help, choose

Setup > Personalizing your company, click the topic Customizing your
MYOB AccountEdge system and then click Customizing work
preferences.

192 Chapter 15 Maintaining Your Company File MYOB AccountEdge, Version 3 us

Protecting your accounting data using file marked the Automatically Refresh Lists When Information
locking Changes preference, when another person changes or removes the
same record you're working with in one of the windows listed
When two or more people use MYOB AccountEdge simultaneously
above, the window you're using will automatically close.
to keep accounting records for your company, they all access the
same company file at the same time. This means that two or more
Tasks that require single-user access
users might be entering sales, writing checks, creating customer
cards and so on, at the same time. When you share your company file on a network, several users can
have access to the company file at the same time. However, a few
MYOB AccountEdge uses a special function called file locking that
important MYOB AccountEdge tasks require that only one user is
makes it possible for more than one user to enter information in the using the company file. Many of these tasks are file maintenance
same company file at the same time. File locking is one of many procedures, such as backing up your company file and checking
features built into MYOB software that allow you and your your company file for errors. These tasks require the ‘full attention’
coworkers to work together in MYOB AccountEdge. of the company file while they’re being performed. Single-user file
locking ensures that only one user is using a company file when
As more than one person can use a MYOB AccountEdge company
these tasks are being performed.
file, you might run into situations where two or more people are
making entries at the same time. There also are times when When you begin to perform a task that requires a single-user file
important maintenance procedures affect your entire company file, lock, other users cannot have the company file open. If you attempt
such as when you back up a company file. In each case, MYOB to begin one of these tasks when the file is open on another user’s
workstation, MYOB AccountEdge will prevent you from starting the
software uses file locking to protect your accounting data. File
task. Similarly, if a single-user file lock is in effect on a company file,
locking can take two forms: multi-user file locking and single-user file
no other users will be able to open the file.
locking.
When you open a company file, you can specify that you want to
Multi-user file locking activate single-user file locking. In the Sign-On window that is
displayed when you start up MYOB AccountEdge, choose the
Multi-user file locking is used by MYOB AccountEdge when more Single-User Access option.
than one person is entering information into the same company file
View a list of users To quickly check whether other users
H INT :
at the same time. It's used to prevent different pieces of data from
are currently using the company file, go to the File menu and
“colliding” into each other when they're simultaneously entered choose Active Workstations.
into your company file; such a situation, if not prevented, could
The tasks in which single-user file locking occurs include:
seriously damage the company file.
l Backing up a company file
Another instance of multi-user file locking occurs when you're
working with a particular record in the Sales, Purchases, Historical l Restoring a backup file
Sale, Historical Purchase, Receive Payments, Pay Bills, Settle l Company File Verification—checking a company file for errors
Returns & Credits and Settle Returns & Debits windows. If you've

User Guide Using your Company File on a Network 193

l Purging journal entries, activity slips, closed sales/purchases and generated before they can begin making entries into the company
business contacts (contact log) file again.
l Exporting MYOB AccountEdge data You can also leave the Prevent Data Changes During Report
l Importing data into MYOB AccountEdge Generation checkbox unmarked. When you do this, other users
l Starting a new fiscal year will be able to continue making entries in the company file, but your
l Starting a new payroll year report may not look exactly the way you intended. If another user
l Loading payroll tax tablesCreating, changing or deleting report changes information that affects the report as it's being printed or
batches displayed, that particular entry may be indicated by zeroes or blank
spaces on the report. In addition, new entries that other users make
l Optimizing a company file
might affect the total amounts on some reports. With this in mind,
l Setting up, changing or removing passwords
you should consider printing or displaying the report at a time
l Setting up, changing or removing an employee’s payroll when you know that no entries are being that which will affect the
information completeness of the report.
l Creating, changing or removing payroll categories

Printing and displaying reports when others

are using the same company file
When you're printing reports on your printer or displaying reports
on your computer screen and other people are using the same
company file, you can choose to activate multi-user file locking
yourself.

Before you print or display a report, open the Report

Customization window for the report. You can mark the Prevent
Data Changes During Report Generation checkbox to activate
multi-user file locking and prevent other users from adding,
changing or removing any information from the company file while
MYOB AccountEdge is generating the report. When you print or
display the report while this checkbox is marked, the report will be
as up to date and accurate as possible.

Keep in mind, however, that a few MYOB AccountEdge reports take

some time to be generated. You might want to consider printing
these lengthy reports at times (for example, at the end of the work
day) when other users won't be forced to wait for the report to be

194 Chapter 15 Maintaining Your Company File MYOB AccountEdge, Version 3 us

Storing custom reports on a network l To have the information displayed on your screen updated
automatically, mark the Automatically Refresh Lists when
When you create custom reports in MYOB AccountEdge, the
Information Changes checkbox in the System view of the
information about the custom reports is stored on your
Preferences window (from the Setup menu, choose
workstation's hard disk, not on the network. Other users of the
Preferences and then click the System tab).
same company file won't be able to use your custom reports unless
you copy the custom reports' information to the appropriate l To manually update the information displayed on your screen, go
locations on their workstations. (You may want to ask your system to the Window menu and choose Refresh All. To update an on-
administrator to perform this task.) screen report in the Screen Report window, you’ll need to re-
display the report using the procedure you originally followed to
Your custom report information is stored in the CUSTOM folder display the report.
inside the folder on your workstation in which MYOB software is
NOTE : Automatically refreshing information will make the
installed. You can use the Finder to copy the custom report files
system operate more slowly for everyone Carefully consider
onto other users' workstations.
whether you need to have on-screen information refreshed
NOTE : If you've created custom reports with a previous MYOB automatically. If you choose this option, MYOB AccountEdge will
product If you've created custom reports with a previous MYOB operate more slowly for everyone who's accessing it. If speedier data
product, you may not be able to display and print them using entry is a priority for you, we recommend that you choose to
MYOB AccountEdge Version 3. As a result of the addition of new manually refresh information on a regular basis.
report fields, changes of field names or changes to the length of
information that will be displayed and printed for a field, your
custom reports may not be available in MYOB AccountEdge Version
3. You may need to customize those reports again.

Displaying up to date information

Each time you open a list window (such as the Find Transactions
window), or display an MYOB AccountEdge report in the Screen
Report window, the information that is displayed matches the
contents of the company file as of the moment you opened the list
or displayed the report. However, if you keep the list or report
displayed on your computer screen for some time, the data that
other users enter during that time may make the information on
your screen obsolete or incorrect. With this in mind, it’s a good idea
to keep the information that’s displayed on your computer screen as
up to date as possible; that way you’ll be sure you’re equipped with
the latest data when you make your company’s financial decisions.

User Guide Using your Company File on a Network 195

Optimizing the performance of MYOB
AccountEdge
As it relies on the network to get the job done, MYOB AccountEdge
needs network hardware and software components to be working
as seamlessly as possible. The following list outlines a number of
ways in which you can get the most out of your accounting system
in the least amount of time.

l Use single-user access whenever possible.

l Exit MYOB AccountEdge when you're not using the application.
l Optimize your company file frequently (see ‘Optimizing your
company file’ on page 190).
l Do not mark the Automatically Refresh Lists When Information
Changes checkbox in the Preferences window.
l Do not check for duplicate document numbers.
l Use Easy-Fill when entering card names, account names, and
item numbers or names.
l Enter accurate transactions.
l Avoid leaving list windows open on your computer screen.
l Make additions and changes to “master records” when you're
the only person using the company file.
l Use only a few linked accounts for inventoried items.
l Combine line item quantities on sales and purchases.
l Mark the Prevent Data Changes During Report Generation
checkbox in the Preferences window.
l Generate large reports when you're the only person using the
company file.
l Print reports by a specific month instead of by a date range.

For more information on each of the above, in MYOB Help, choose

Setup > Networking with MYOB AccountEdge > Optimizing
AccountEdge.

196 Chapter 15 Maintaining Your Company File MYOB AccountEdge, Version 3 us

 Appendix A Importing and Exporting
Data
Importing Accounting Data
MYOB AccountEdge allows you to take various bits of information 1 Go to the File menu, choose Import Data, and then choose the
entered in other software applications and incorporate it into your type of data you want to import. The Import File window is
company file. You can also incorporate information entered in one displayed.
MYOB software company file into another MYOB software
2 Select the import file format and the type of the first record and
company file. This process is called importing data.
enter other information as required. For more information, click
You can import the following types of information into MYOB Help.
AccountEdge: accounts, items, cards, sales, purchases, activities,
3 Click Continue. The Open dialog box is displayed.
activity slips and journal entries.
4 Locate the import file and click Open. The Import Data window is
Importing from CaseWare You can import journal entries from displayed.
CaseWare directly into MYOB AccountEdge. For more
information, see ‘Exporting to and Importing from CaseWare’ on 5 Match the import fields with the MYOB AccountEdge fields. To do
page 200. this, highlight the name of a field in the Import Fields column.
Then match it with a field in the AccountEdge Fields column by
If you are importing from Quicken In MYOB Help, choose
Importing/Exporting and click the topic To import QIF clicking that field. When you click the AccountEdge Fields column,
information.... the import field you selected will appear in the Matching Import
Field column.
To import data

Before you start the import process in MYOB AccountEdge, you will
need to export the data you want from the software application
you’ve used to create the data. The data you want to import must
be stored in a file, known as an import file, that uses either the tab-
delimited or comma-separated file format.

197
 N OTE : Some fields must be imported MYOB AccountEdge fields If you want to remove an import field from the Matching Import
that have asterisks (*) next to them must have matching import file Field column, simply click it. If all the fields in the import file match
fields assigned to them. the fields in the AccountEdge Fields column, you can match all the
fields at one time by clicking Match All at the bottom of the
window.

6 After you have matched the fields, click Import. The data is
imported into MYOB AccountEdge. If you get a warning or an error
message indicating that the import was not successful, refer to the
import log file in your MYOB AccountEdge application folder for a
list of errors or warnings. This is a text file—readable by most word
processors—that lists any problems encountered during the import.

198 Chapter A Importing and Exporting Data MYOB AccountEdge Version 3 us

 Exporting Data from MYOB AccountEdge
You can take various data entered in MYOB AccountEdge and use it 5 Repeat the previous step for each field you want to export.
in other software applications or in other MYOB software company
NOTE : Some fields must be exported MYOB AccountEdge fields
files. This process is called exporting data. that have asterisks (*) next to them must be included in the Export
You can export the following types of information from MYOB Fields column before you can export any data.

AccountEdge: accounts, items, cards, activities and activity slips,

journal entries, sales and purchases.

You can export data from MYOB AccountEdge in a tab-delimited or

comma-separated file format.

For more information, in MYOB Help, choose Importing/Exporting

and click the topic Importing/Exporting > Exporting data from MYOB
AccountEdge > To export data from AccountEdge.

NOTE : Single-user access Please note that this task requires single-
user access. For more information, see “Tasks that require single-user
access” on page 193. If you want to remove a field’s name from the Export Fields
column, click the field’s name in the MYOB AccountEdge Fields
To export data column. If you want to export all the fields in the order they’re
shown in the AccountEdge Fields column, click Match All.
1 Go to the File menu, choose Export Data, and then choose the
type of data you want to export. The Export File window is 6 When you have selected the fields, click Export. In the dialog box
displayed. that is displayed, enter a file name and location for the export file
and click Save. The file is exported.
2 Select the export file format and enter other information in this
window. For detailed field help, click Help.

3 Click Continue. The Export Data window is displayed.

4 Choose the MYOB AccountEdge fields you want to export, and the
order in which you want to export them. To do this, click on the first
field you want to export in the AccountEdge Fields column. The
title Field 1 will appear in the Export Order column next to the field
you selected. The field name will appear at the top of the Export
Fields column on the left side of the window.

User Guide Exporting Data from MYOB AccountEdge 199

 Exporting to and Importing from CaseWare
Accountants routinely ask their clients to provide financial 4 From the Dated to end of list, choose the most recent month you
information in an electronic format that can be loaded into their want to include in the file. All journal entries from the first day of the
software applications. This makes it easier for the accountants to fiscal year through the last day of the month you selected will be
examine and analyze their clients’ records. After examining their included in the text file.
records, accountants may make adjustments to the records that
5 When you’re ready to create the CaseWare export file, click Export.
need to be entered into MYOB AccountEdge.
6 In the dialog box that is displayed, specify a location and file name
If your accountant requests an electronic copy of your accounting
for the export file (do not change the .TXT file name extension).
records, you can use MYOB AccountEdge to create a comma-
Click OK or Save to begin creating the CaseWare export file.
separated text file that can be read by CaseWare, a client write-up
software package that is popular among accountants. When the file has been created, you're ready to send the file to your
accountant, who can then import it into CaseWare.
The file that is created through the export process will contain your
company information, account information and journal entries. See To import from CaseWare
‘To export to CaseWare’ below. Before you begin the import process, you should obtain from your
If your accountant makes adjusting journal entries that he or she accountant the import file containing the General Journal entries
wants you to enter into your MYOB AccountEdge company file, you that you want to import.
can also use MYOB AccountEdge to import an electronic copy of NOTE : Single-user access Please note that this task requires single-
the journal entries that your accountant gives you. All transactions user access. For more information, see “Tasks that require single-user
will be imported as General Journal entries. See ‘To import from access” on page 193.
CaseWare’ below.
1 Make a backup of your MYOB AccountEdge company file.

To export to CaseWare 2 Go to the File menu, choose Accountant Link and then Import
from CaseWare. The Open dialog box is displayed.
1 Make a backup of your MYOB AccountEdge company file.
3 Locate the import file that your accountant sent you and click Open.
2 Go to the File menu, choose Accountant Link and then Export to The import process begins immediately.
CaseWare. The Export File window is displayed.
If you get a warning or an error message indicating that the import
3 If you want to export journal entries in addition to company
was not successful, refer to the import log file in your MYOB
information and accounts, mark the Include Journal Entries in
AccountEdge program folder for a list of errors or warnings. This is a
Export File checkbox. (Keep in mind, however, that exporting
text file—readable by most word processors—that lists any
journal entries may take some time, and probably will create a very
problems encountered during the import.
large export file.)

200 Chapter A Importing and Exporting Data MYOB AccountEdge Version 3 us

 Appendix B More Tools for Managing
Your Business
In addition to being a superior accounting system, MYOB OfficeLink templates to create the letters quickly. OfficeLink then
AccountEdge can be an effective business management tool. This seamlessly exports the letters and your contacts’ card file
section lists some tools available in MYOB AccountEdge. They are information into your word processing application, where you can
described in detail in MYOB Help. print them.

For more information on how to use OfficeLink, in MYOB Help

Maintaining a Contact Log
choose Reports and Forms > OfficeLink and click the topic Creating
The Contact Log in MYOB AccountEdge lets you maintain a personalized letters using OfficeLink.
comprehensive list of business contacts, which includes sales,
purchases, phone calls, mailings and so on, for every person and
company in your Card File. Use your business contacts and the
Setting up reminders using the To Do List
Contact Log as your “diary.” When a customer or vendor calls, you The To Do List in MYOB AccountEdge contains lists of reminders
can use the Contact Log to document a complete history of your that inform you to perform your regular business tasks on a
business relationship with that contact. consistent basis. The To Do List will tell you, at a glance, when you
You can even use the business contacts you enter in MYOB need to recontact a client, when your stock needs to be reordered,
AccountEdge to create a system of billing for the time you spend when your discounts expire, and much more. MYOB AccountEdge
with your customers. See Chapter 10, ‘Billing For Time,’ on uses the dates you set up in the Business Calendar window to add
page 131. reminders to the To Do List. If the number of days for a
For more information on creating and maintaining a contact log in reminder—except for money due to you that’s overdue—places the
MYOB AccountEdge, in MYOB Help, choose Cards > Maintaining reminder on a non-business day, the reminder will be moved to the
business contacts. previous business day.

For more information on how to use the To Do List, click To Do List

Creating personalized letters in any command centerand click Help .
Communication with your business contacts is essential to the
success of your business. With OfficeLink, you can easily create
personalized letters to your clients, whether it is a note of
appreciation, a reminder about unpaid invoices, or a letter
conveying the status of an order. You can use one of the many

201
 Organizing your cards Custom lists enable you to create lists of predefined attributes that
remain standard over time and can be used to sort your cards—for
Identifiers are one-letter labels you can assign to cards to help you
example, they can be used to sort customers according to your sales
organize your cards into groups. When you create reports or view
territories. You then use MYOB AccountEdge’s Report Filter to
information about cards, you can limit the information you view to
choose which sales territory list you want to display in your report.
that of a specific group of cards by indicating the identifiers you’ve
assigned to the cards in that group. For information about creating custom lists and custom fields for
your cards, in MYOB Help, choose Setup, click a topic under the
To create identifiers heading Using custom lists and fields in the Table of Contents.

1 Go to the Lists menu and choose Identifiers. The Identifiers

Linking a picture to a record
window provides a field for each of the 26 letters of the alphabet.
You can link a picture—a PICT file, TIFF and JPG—to a card or item.
2 Enter a description for as many of the identifiers as you want and The picture is displayed in the Card Information or Item
click OK. Information window.
The pictures are stored in the Graphics folder in your MYOB
To assign identifiers to a card
AccountEdge application folder. If you move your company file, you
1 Display the required card in the Card Information window. must move the Graphics folder to the same location to continue
displaying the pictures.
2 Click the Card Details tab and click Identifiers.

3 Mark the checkbox beside the identifiers you want to assign to the To display a picture
card.
1 Display the required card in the Card Information window (or item
4 Click OK. in the Item Information window).

2 Click the Card Details tab (or the Item Details tab) and double-
Recording additional information about your click the picture file area. The Picture Information window is
cards displayed.
If you need to record additional information about your cards that 3 Click Link. The Open dialog box is displayed.
may be specific to your business, you can use the custom lists and
fields in the Card Information window to do so. MYOB 4 Locate the graphic file you want to display for this card or item and
AccountEdge contains three custom lists and three custom fields for then click OK or Open. The Picture Information window is
each card type. You can label them according to your needs. displayed, with the selected picture appearing on the right.
Custom fields allow you to enter any information you like—for 5 Click OK. The picture appears in the Card Details/Item Details tab.
example, they can be used to indicate an employee's last review
date. You then use the Report Design feature to display that
information on your reports.

202 Chapter B More Tools for Managing Your Business MYOB AccountEdge, Version 3 us
To change the picture

If you want to replace the displayed picture with another, double-

click the displayed picture and continue with step 3 of the above
procedure.

To remove a displayed picture

If you want to remove the displayed picture from the Card

Details/Item Details tab, double-click the picture. In the Picture
Information window, click Unlink and then click OK. The graphic
will disappear from the Card Details/Item Details tab but will
remain in the Graphics folder.

Using the Business Calendar

MYOB AccountEdge has a Business Calendar that you can
customize to suit the needs of your business. You can:

l Establish the days on which your business is closed for the

upcoming year, so reminders on your To Do List appear on
open-for-business days.
l Note which days of the year contain important company events.

Display the Business Calendar by choosing Business Calendar from

the Setup menu. For more information on using the Business
Calendar, click Help in this window.

User Guide 203

204 Chapter B More Tools for Managing Your Business MYOB AccountEdge, Version 3 us
 Index

Numerics Accounts Easy Setup Assistant 22 Analysis 17 66

1099 statements accounts list Analyze Inventory window 175

printing at year-end 182 how you want to build 15 analyze payables 81 95
setting up vendor card to report setting up 22
Analyze Payroll window 130
payments 29 Accounts List window 103
Analyze Sales window 66
accrual categories
arrows. See zoom arrows
assigning to employees 121
A creating 121 ATM withdrawals and transfers,
editing 125 recording 58
Account Information window 103
active workstations, displaying list of audit trail, maintaining 115
account levels
users 193 Auto-Build Information window 91
account types 22
changing 23 activities Auto-Build Inventory window 92
account types 22 creating time billing 134 auto-building
defined 134 items 91
accounting periods
deleting 106 items stock
closing 178
importing 197 auto-building items 91
number of 15
making changes to 105 items using the To Do List 92
accounts setting billing rates for 133 average cost 96
adding a new account 102
Activities List window 134
adjusting to reflect work in
progress 140 Activity Information window 134
B
creating new accounts 22 activity slips
deleting 106 adjusting books to show value of backing up
Detail accounts 22 work in progress 140 company file 187
entering opening balances 23 creating a single slip 135 frequency 187
exporting 199 creating multiple slips 137 setting reminder for 21
exporting to CaseWare 200 deleting 138 backorder
finding 104 finding 138 creating letters 201
for tracking multicurrency 142 importing 197 placing items being purchased
Header accounts 22 making changes to 138 on 76
importing 197 reviewing 138 placing items being sold on 62
making changes to 105 using timer to create 136
backslash character, item numbers
reconciling at month-end 176 Adjust Inventory window 88 with 37
setting up 22 adjusting inventory 88 backup file, restoring 189
transferring funds to foreign
adjustments, using 13th period to bank accounts
account 148
enter 15 reconciling 176
Accounts command center 17
Aging Date window 81 reconciling for the first time 41

205
[bank deposit, preparing 50 ] [customizing MYOB 21 ]

bank deposit, preparing 50 creating customer cards 26 unable to open, hiding inactive forms 159
bank interest earned, recording 177 creating employee cards 32 troubleshooting 190 inactivating fields 159
creating vendor cards 29 using on a network 192 moving elements around on the
Bank Register
deleting 106 company information, entering 15 form 159
entering transactions in 53
exporting 199 previewing a customized form 156
finding a transaction using 112 components, using to auto-build
finding 104 printing a customized form 156
using the Get Statement button 55 items 90
importing 197 removing elements 159
using the Split button 54 consolidated tax codes 36
linking picture to 202 resizing elements 158
bank service charges, recording 177 making active or inactive 107 contact log 201 saving a customized form 156
bank statement making changes to 105 Contact Log Entry window 201 setting up page properties 156
importing into MYOB 55 organizing in groups 202 specifying form size 156
contact reminder 201
matching transactions with 55 using advanced search filters to using the Tool palette 157
supported formats when conversion month
find 105 custom lists
importing 55 defined 14
using custom lists and fields 202 printing on purchases and
entering 15
Banking command center 48 CaseWare invoices 99
Copy From button 37
base selling price of item 39 exporting to 200 using in cards 202
importing from 200 cost of sales, account for tracking 38 using to filter inventory reports 99
billing for time. See time billing
Cash Flow Worksheet window 175 Count Inventory window 40 93 using to group items 99
billing rates
setting for an activity 133 cash flow, reviewing at month- counting inventory 93 custom price levels 97
setting for customers 133 end 175 credit card customer credits
setting for employees 133 changing recording payments 57 creating by reversing a sale 70
setting for vendors 133 records 105 recording purchases 57 creating manually 70
bills transactions 114 credit card statement deleting 114
paying 82 importing into MYOB 55 issuing to customers 70
charging for time. See time billing
paying in the Bank Register 53 matching transactions with 55 settling by applying to a sale 71
check number, voiding 58 settling by writing a refund check 72
recording 74 credit terms
checking accounts, reconciling at customer overpayments 68
blank lines, inserting between line changing customer terms during
month-end 176
items 63 77 sale 61 customer payments
checks changing when recording a discount for early payment 68
bonuses, including on paycheck 127 custom 156 purchase 75 group with undeposited funds 67
budgets printing 153 setting up default 25 28 customer statements
allocating for jobs 45 recording in the Bank Register 53
reviewing and adjusting at month- Credit Terms window 61 75 printing 153
saving as recurring 52
end 175 currency calculator 148 customers
collection letters 201
Business Calendar 203 Currency Information window 142 assigning a price level to 98
command center 17 changing credit terms of during
business contacts, maintaining list Currency List window 142
company file sale 61
of 201 backing up 187 custom fields
creating cards 26
buying details, setting up default 28 checking for errors 190 recording card details using 202
setting billing rates for 133
creating new 14 recording item details using 98
setting up default credit terms 25
experiment with sample company custom forms
C customizing MYOB 21
data 12 adding pictures and logos 157
Card File command center 26 information you need for setting changing font characteristics 158
up 19 custom checks 156
Card Information window 26 102
optimization 190 drawing lines on forms 157
202
restoring backup of 189 drawing rectangles on forms 157
cards hiding inactive fields 159
adding new cards 102

206 Index MYOB AccountEdge, Version 3 us

[data ] [Internet banking ]

D Easy Setup Assistant 20 F G

Easy-Fill 21
data faxing General Journal entries
importing from other e-mail purchases 77 exporting data
applications 197 purchases 77 reports 168 to CaseWare 200
limiting access to. See passwords sales 63 sales 63 importing data
removal of data no longer sending reports by 168 Field Information window 159 to CaseWare 200
needed 190 Employee Payroll Information Get Statement button 55
file locking
data fields window 33
single-user 193 Getting Started guide 11
changing font characteristics of sev- employees using to protect your data 193
eral fields at once 158 assigning accrual category to 121 finance charges
changing font characteristics of sin- assigning deduction category to 122 H
calculating 69
gle field on a form 158 assigning employer expense cate- deleting 69 Header accounts 22
changing size of 158 gory to 123
forms, changing font characteristics Find Transactions headers, using to group line items in
creating cards 32
of 158 description 17 transactions 63 77
pay history, entering 34
inactivating on a form 159 finding transactions using 110
paying 126 Help buttons, in windows 11
data file. See company file setting billing rates for 133 finished item, defined 90 historical purchases, entering 30
viewing sales history for 67 fiscal year
deduction categories historical sales, entering 27
employer expense categories end-of-year tasks 179 180
assigning to employees 122 HTML format, saving reports in 168
assigning to employees 123 last month of 14
creating 122
creating 120 122 starting a new year 180
deleting 125
deleting 125 tasks to perform at end of 179
editing 125 I
editing 125 what is your fiscal year? 14
deduction categories, creating 120
when to close 179 I Buy this Item 37
employer expenses, linked account
deductions, linked account for 32
for 31 fonts I Inventory this Item 37
deleting changing on individual reports 165 I Sell this Item 37
end-of-month. See month-end tasks
records 106 characteristics of, changing on
end-of-year Identifiers, using to group cards 202
transactions 114 forms 158
end of fiscal year tasks 179 180 import file formats, for importing
deposits foreign currency
end of payroll year tasks 182 statements 55
recording 50 adding a new currency 142
recording in the Bank Register 53 entitlement categories import log file 198
making changes to 105
saving as recurring 49 creating 120 importing
foreign purchases. See multicurrency
Detail accounts 22 errors, checking for in company bank statements 55
foreign sales. See multicurrency
discounts file 190 credit card statements 55
Form menu 155 data from CaseWare 200
giving customers 62 Excel, viewing MYOB reports in 169
receiving early payment discount forms data from other applications 197
exchange accounts for tracking for-
customizing. See custom forms inactivating records not used
from vendor 83 eign transactions 142
finding 152 frequently 107
receiving from vendor 76 expiring discounts alert 201 plain paper layout, choosing 153
reversing customer payments Index to Reports window 162
Export Data window 199 preparing to print 170
with 115 initial bank reconciliation 41
exporting data pre-printed layout, choosing 153
reversing vendor payments with 115
to CaseWare 200 printing 153 international transactions. See multi-
to MYOB 199 reviewing before printing 154 currency
E Forms Selection window 153 Internet banking
Importing statements 55
early payment discount 68 freight, charging customer for 62
recording transfers 58

User Guide Index 207

[Internet, viewing online help file on 21 ] [opening balances]

Internet, viewing online help file finished item, defined 90 learning tools 10 ’I deal in multiple currencies’
on 21 I Buy this Item checkbox 37 line items preference 142
inventory I Inventory this Item checkbox 37 defined 75 accounts for tracking foreign
auto-building items 91 I Sell this Item checkbox 37 entering in the Purchases purchases 143
auto-building items using the To Do importing 197 window 75 accounts for tracking foreign
List 92 including on time billing entering in the Sales window 61 sales 142
changing prices of 96 invoices 132 inserting blank lines between 63 77 adding a new foreign currency 142
counting 93 last cost 96 showing subtotal of 63 77 exchange accounts 142
custom lists and reports 99 linking picture to 202 using headers to group 63 77 reports 148
custom price levels 97 making adjustments to account for setting up MYOB for 141
lines
making adjustments to 88 loss 88 tracking realized currency
changing the length of 158
making transfers 90 making changes to 105 gains/losses 146
forms, drawing on 157
reports 95 making inventory transfers 90 transferring funds to foreign
number per buying unit 38 linked accounts account 148
using custom fields 98
number per selling unit 39 setting up payroll accounts 31 unrealized gains and losses 147
using custom lists 99
price levels, setting custom 97 setting up purchase accounts 28
Inventory command center 88 MYOB Help 10
setting restocking alert 39 setting up sales accounts 26
invoices MYOB software
setting up 37 lists
creating time billing invoices 138 starting 12
using custom fields for recording adding records to 102
entering 60 details of 98 deleting records from 106
entering line items on 61 using custom lists to group 99 inactivating records in 107 N
inserting blank lines in 63 viewing purchase history 81 95 Lock Periods preference 178
printing 153 viewing sales history 67 network
printing custom lists on 99 logos
Items Register how passwords work on 192
adding to forms 157
showing subtotal of line items on 63 how preferences work on 192
finding transactions using 112 changing size of on forms 158
using headers to group line items printing reports 194
on 63 storing custom reports on 195
Item Information window 37 202 J M using your company file on 192
items New Company File Assistant 14
jobs Mail Merge button 66
asset account for tracking value new company file, creating 14
assigning to purchase 76 mailing labels, printing 153
of 38 new features in this version 12
budget allocation 45
auto-building 91 mailouts 201
changing levels of 44 new year
auto-building using the To Do Match Transaction window 55
deleting 106 starting a new fiscal year 180
List 92
Detail jobs 44 matching transactions 55 starting a new payroll year 183
average cost, how it’s calculated 96
entering opening balances 44 minimum stock levels 39 non-cash wages, including on
base selling price 39
finding 104 month-end tasks paycheck 127
changing prices of 96
Header jobs 44 closing accounting period after
changing prices of multiple items at
making changes to 105 completing 178
once 96
setting up 42 paying payroll taxes 177 O
counting 93
creating item records 37 journal entries reconciling accounts 176 OfficeLink
default reorder quantity 39 exporting 199 reviewing and adjusting creating collection letters 66
deleting 106 importing 197 budgets 175 creating personalized letters 201
entering opening quantities and reviewing cash flow 175
online banking, importing
value 40 reviewing order status of items 175
L statements 55
exporting 199 reviewing your trial balance 174
finding 104 online help. See MYOB Help
last cost 96 multicurrency
opening balances

208 Index MYOB AccountEdge, Version 3 us

[optimizing your company file 190 ] [realized gains and losses ]

entering for accounts 23 payment method, setting up Prevent Data Changes During Report e-mailing 77
entering for jobs 44 default 25 Generation 194 entering 74
optimizing your company file 190 payroll Select and Display Account Name, exporting 199
setting up 31 Not Account Number 21 faxing 77
orders
setting up linked accounts 31 setting up 21 from overseas vendors. See multicur-
converting an order to a bill 79
system-wide preferences 192 rency
converting an order to an invoice 65 payroll categories
time billing 132 historical purchases, entering 30
converting several orders to bills at assigning to employees 34
Transactions CAN’T be Changed 21 importing 197
once 79 creating 120
115 inserting blank lines in 77
converting several orders to invoices deleting 106 125
Prepare Bank Deposit window 50 line items on, entering 75
at once 65 editing 125
114 printing custom lists on 99
entering purchase orders 74 finding 104
recording 74
entering sales orders 60 making changes to 105 price levels
recording in the Bank Register 53
overdue invoices reviewing 32 assigning to customer 98
reports 81
creating collection letters using reviewing on paycheck 126 creating custom 97
saving as a PDF file 77
OfficeLink 66 payroll checks. See paychecks prices saving as recurring 77
viewing list of 66 Payroll Easy Setup Assistant 31 changing item prices 96 setting up linked accounts 28
overpayment by customer 68 changing prices of multiple items at viewing list of unpaid purchases 80
payroll taxes
once 96 94
defined 124
paying 177 printers, preparing to print reports with credit card 57
P and forms 170
payroll year Purchases command center 74
Password Access window 186 end-of-year tasks 182 printing Purchases Easy Setup Assistant 28
passwords entering current 31 checks as you record them 52
Purchases Register
how they work in a network starting a new year 183 choosing page setup options 170
finding transactions using 111
environment 192 when to close 179 invoices as they are recorded 63
payments as they are recorded 83 Purchases window
setting up master password 186 pending purchases. See purchase
purchases as they are recorded 77 showing subtotal of line items 77
setting up sub-passwords 186 orders
reports when others are using com- using headers to group line items 77
pay basis 33 pending sales. See sales orders pany file 194 purging information 190
Pay Bills window 82 83 personalized letters purchase activity, viewing 111
Pay Employees window 126 creating 201
purchase details, setting up 28 Q
printing 153
pay frequency, specifying 33
purchase history
pay history pictures Quicken, data import 197
viewing for items 81 95
entering for employees 34 adding to forms 157
viewing for vendors 81 quotes
changing size of on forms 158
pay history, entering for purchase layout, setting up converting to orders or bills 78
linking to card records 202
employees 34 default 28 converting to orders or invoices 64
linking to item records 202
payables, analyzing 81 95 recording a vendor’s quote 74
removing from records 203 purchase orders
recording quotes made to
paychecks replacing in records 203 entering 74
customers 60
changing 128 Portable Document Format (PDF) file printing 153
deleting 128 saving purchases as 77 purchases
including types of wages on 127 saving reports as 168 assigning jobs to 76 R
linked account for 31 saving sales as 63 changing credit terms when
printing 128 153 recording 75 reactivating a record 107
preferences
reversing 128 changing status of 78 realized gains and losses
how they work on a network 192
saving as recurring 128 choosing type of 74 tracking on sales and purchases 146
I Prefer to Use Help From the
writing 126 deleting 114 tracking on transfers 146
Internet 21

User Guide Index 209

[Receive Money window 48] [tax tables]

Receive Money window 48 report batches S Save Recurring Template

receive payments 67 creating 172 window 116
deleting 172 sale layout
receive payments, recording in the search fields, using to find
making changes to 172 selecting 60
Bank Register 53 records 104
printing 172 setting default 25
Receiving Money 48 sales search icons 18
Report Design window 165
receiving payments (account transac- analyzing sales activity 66 selling details, setting up default
reports changing status of 64 entries 25
tions)
custom reports, storing on choosing type of 60
grouping with undeposited funds 67 Set Item Prices window 96
network 195 deleting 114
receiving payments (cash transac- customizing 163 Settle Returns & Credits window 71
tions) e-mailing 63
designing 164 Settle Returns & Debits window 86
grouping with undeposited funds 48 entering 60
displaing onscreen 167 entering historical sales 27 sharing company file on a
Reconcile Accounts window 41 filtering information appearing network 192
exporting 199
reconciling accounts on 163 faxing 63 sick pay, including on paycheck 127
at month-end 176 finding 162 importing 197 Sign-On window 193
for the first time 41 formatting 165 income account for tracking sales 38
matching transactions with bank inventory reports 95 single-user access, tasks that
recording in the Bank Register 53 require 193
statement 55 multicurrency reports 148 reviewing information about 65
Record Journal entries preparing to print 170 single-user file locking 193
saving as a PDF file 63
exporting to CaseWare 200 printing when others are using com- saving as recurring 63 Social Security Number, entering an
importing from CaseWare 200 pany file 194 employee’s 33
setting up linked accounts 26
purchase reports 81 Spend Money window 51
records setting up sales details 25
sales reports 66
creating new 102 to overseas customers. See multicur- spending money 51
saving as a comma-separated text
deleting 106 rency Split button 54
file 168
making active or inactive 107 viewing list of unpaid sales 66
saving as a PDF file 168 stock quantities, entering 40
making changes to 105 Sales command center 60
saving as a simple text file 168 stock reorder alert 201
rectangles saving as a tab-delimited text sales commissions, including on
forms, drawing on 157 subtotal, showing in transactions 63
file 168 paycheck 127
77
recurring transactions saving as an HTML file 168 Sales Easy Setup Assistant 25
creating 116 suppliers. See vendors
saving custom reports 166 sales history, viewing for item, cus-
deleting 118 sending by e-mail 168 tomer or employee 67
making changes to 118 sending by fax 168
sales orders T
saving checks as recurring 52 using custom lists as filters 99
entering 60
saving deposits as recurring 49 using wildcards to filter 164 tabs, using to find records in lists 104
printing 153
saving paycheck as recurring 128 viewing in Microsoft Excel 169 tax 106
saving purchases as recurring 77 viewing sample of 162 Sales Register
finding transactions using 110 tax codes
saving sales as recurring 63 restoring a backup 189
viewing and editing sales in 110 consolidated tax codes 36
using 117
returns. See customer credits; vendor creating 35
refreshing lists, in a multi-user sales reports, viewing 66
debits making changes to 105
environment 195 Sales window setting up default for purchases 28
reversing transactions 115
refunds. See customer credits; vendor showing subtotal of line items 63 setting up default for sales 25
Review Sales Before Printing using headers to group line items 63
debits tax tables
window 154
removing Sales-New Time Billing window 139 checking Revision Date 124
rounding time, in time billing 132
transactions 114 sample company file, experimenting loading 31
reorder quantity, setting for items 39 with 12 updating to latest revision 124

210 Index MYOB AccountEdge, Version 3 us

[telephone banking, recording transfers 58] [zoom arrows 17 ]

telephone banking, recording making changes to 114 item number 38 Z

transfers 58 reversing 115 paying 82
transactions that cannot be paying in the Bank Register 53 zoom arrows 17
text fields
adding to forms 157 changed 114 receiving early payment discount
changing font characteristics of 158 using recurring transactions 117 from 83
changing size of on forms 158 Transactions CAN’T be Changed recording quote received from 74
description of 155 preference 21 115 setting up default credit terms 28
viewing purchase history 81
thirteen accounting periods 15 Transfer Inventory window 90
Verify Company File command 190
time billing transferring inventory 90
activities, creating 134 View Contact Log window 201
Trial Balance report, reviewing at
activities, defined 134 month-end 174 voiding check number 58
activity slips 135
adjusting accounts to reflect work in
progress 140 U W
creating invoices 138
unchangeable transactions 115 W-2 forms, printing at year-end 182
creating invoices in the Sales
uncleared transactions, matching 55 wage categories
window 140
creating 120
including items on invoices 132 undeposited funds
deleting 125
rounding time 132 grouping payments (account trans-
editing 125
setting billing rates 133 actions) with 67
setting preferences 132 grouping payments (cash transac- wages
tracking work in progress 140 tions) with 48 linked account for 31
using a timer 136 preparing bank deposit for 50 paying sick pay wages 127
using special billing units 132 paying vacation wages 127
unpaid invoices, sending reminders
timer to customers with 201 Welcome to MYOB window 12
resetting 136 unrealized currency gains and Widgets & Co., sample company
using when billing for time 136 losses 147 file 12
To Do List Use Recurring button 117 wildcards, using to filter reports 164
auto-building items using 92 Withholding Payer Number (WPN),
user guide 10
description 17 entering 31
making vendor payments from 80 users, viewing list of 193
work in progress
setting up reminders 201
adjusting accounts to reflect 140
Tool palette 155 157 V tracking 140
tracking employees’ time. See time
billing Vaction pay, including on
paycheck 127 Y
Transaction Journal window 113
vendor debits
Transaction Journal, finding transac- year
creating by reversing purchase 84
tions using 113 fiscal 179
creating manually 84
Transactions starting a new payroll year 183
deleting 114
adding to MYOB from bank or credit starting new fiscal year 180
settling 85
card statement 57 year, fiscal 179
vendors
transactions creating cards 29 year-end
creating recurring 116 credit terms, changing when record- fiscal year-end 179 180
deleting 114 ing purchase 75 payroll year-end 182
finding 110 entering discounts from 76

User Guide Index 211