Mind Your Own Business [MYOB] - Course Outline
Duration
2 day
Course Aims
This course will introduce new users to the concepts of Mind Your Own Business.
Learning Outcomes
Upon completion of this course the participant will be able to:
• use and modify a chart of accounts • work with the GST
• enter historical balances • create reports
• create, modify and print purchase orders, invoices and sales documents • manage inventory items
• use the chequebook
Training Method
Training is conducted by professional trainers, using hands on exercises and user practise to consolidate concepts.
Prerequisite
Windows Getting Started course or equivalent. Participants must have good mouse skills. It is an advantage if you have used other Windows based applications and know how to use menus, toolbars and other typical screen components.
Course Content
Getting Started with MYOB
• Basic Orientation • MYOB Help
• Starting a New Data File
Chart of Accounts
• Profit & Loss Statement & Balance Sheet • Customising the Chart of Accounts
• Creating New Accounts • Header Accounts
• Entering Opening Balances • Checking Account Balances
Tax Codes & GST Accounts
• The Business Activity Statement • Setting up Tax Codes
• Editing Tax Codes • Withholding Tax No ABN
• Setting Default Tax Codes
Card File
• Entering Customer & Vendor Details • Changing Credit Terms
• Employee Cards
Chequebook
• Writing Cheques • Writing cheques for different Tax Codes
• Using Recurring Cheques • Credit card Transactions
Making Deposits
• Deposit Transactions • Using the Cash Drawer
• Recurring Deposits
Reconciliation
• Producing a Reconciliation Report • Journal Adjustments
• Reconciling Accounts
Sales
• Invoice Types • Entering Sales
• Cash Sales • The GST Tax invoice
• Printing Invoices • Customising Invoices
Payments & Refunds
• Analysing Accounts Receivable • Making Payments
• Credits & Refunds
Purchases
• Set up Accounts Payable • Creating & Receiving Pending Orders
• Printing and Locating Purchase Orders
Vendor Payments
• Entering Payments • Refunds & Adjustments
GST Reports
• Examining Liability Accounts • Running a GST Report
• Making a GST Payment • Electronic BAS Form
Reports
• Generating and Customising Reports • Analysing Profit and Loss
Inventory
• Entering Inventory Items • Counting your Stock
• Purchasing and Selling Inventory Items