Memorize how to create company profile

2 ways to create company profile

1. Through set up assistant – customize company profile
2. Through command center – begin entering transactions right away

Procedures to create new company profile

1. Enters your company name
-legal name
-address, city
Name, address email, contact number
2. Financial year Conversion month
3. Select which accounts do you prefer
- Types of account list
List of accounts provided by MYOB
List of accounts provided by your accountant
Provided by yourself/ create your own
4. Create the default name and location of the company
-make your necessary changes if needed
5. Enter transactions right away and/ or customize you company profile

List of Accounts
Steps in setting up accounts
1. Create an account list presented below
Account types
a. Specify whether it is a header or a detail account
Header accounts - are group related accounts
Detail accounts - postable accounts

b. enter account number, account name, and tax code

c. type a description explaining the purpose of the account
2. Enter your account opening balances
3. Make changes, delete, add any accounts if you wish to do so

Setting up sales details

Go to customer navigator

Setting up sales details- help you send a set up information about your customers and the sales
Before using the gather a list of customer with name, addresses, contact numbers gather list of sales that haven’t be fully
paid (all transactions)

Sales prices- tax =net

Step in sales detail
1. Choose the sale layout that you expect to use most often
2. Choose default selling details entries to speed up the task of creating a new customer
3. Select the tax code (Philippine tax) that you may use for sales and freight charges
4. Enter the credit terms you generally extent to your customer and default payment period
5. Review the default accounts that will be used to track you customer receipts and undeposited accounts
6. Enter the historical sales- sales that made haven’t been paid in full

Pointers to review:
Definition of accounting
Purpose of accounting
Basic terminologies
Accounting cycle – 8 accounting cycle
Accounting sequence
Tools of accounting
Advantage of a computer bases system
What is MYOB
Family of MYOB
How does MYOB works
Give at least 5 of MYOB features of MYOB
MYOB welcome window
- open a company file
- Create a new company file
- What’s new in disbursion
- Open a sample company
- Exit
MYOB sign on window
Format:
- Go to Administrator, password click ok
- Activate in confirming a company file
1. In creating company file we have 30 days to activate
2. You can activate you company file if you connect with internet or calling MYOB online
3. Moving around with MYOB premier
- It is easy to move around in MYOB accounting
-use mouse to point and click functions you wish to enter
Memorize the key command center in MYOB and you must know the definition

7 major command centers

- Accounts
- Banking
- Time billing
- Purchase
- Inventories
- Card file
Other options in each command center: memorize definition
- To do list- you can use to view the business task
- Find transactions -you have to view summary
- Reports- view list available in reports
- Analysis- you can use analysis to display windows to analyze
Menu Bar - this contain related commands and options
Pull down menus- related commands use to perform specific task of instructions

8 pull down menus available in MYOB premier:

1. File menu – use to set up new company
2. Edit menu – use to edit, delete transaction
3. List menu – add or make changes in company such as chart of account
4. Command centers – perform the all day to day accounting activity
5. Set up menu – enter account opening balances of your company, designing of forms setting up password
6. Report menu – use to generate customize and print the MYOB installed reports
7. Window menu – open windows within MYOB application window
8. Help menu – activate your company file & access built in MYOB functions

Tools available inside MYOB

1. Zoom arrows
-white zoom arrows- detail information about the transaction, there is changes and easy to delete
-gray zoom arrows- you can zoom to more detail information but can read only
2. Search icons – select a record to appear in the field
3. Calendar – simplify dates entry
4. Calculator – simplify calculation
5. Learning center icon – access comprehensive list of MYOB features and info

Steps in purchase
1. Choose the purchase layout that you expect to use most often
2. Choose default purchase details entries
 3. If you are tax, select the tax code
4. Enter credit terms in suppliers extends
5. Review the default account that will be use to pay bills from your suppliers
6. Enter you historical purchase – purchases that haven’t paid in full

Steps in creating customer card

1. Open the card info window for customer
2. Enter details about your customer such as selling information, task information & credit terms
3. Repeat the process for every customer
Steps in creating supplier
1. Open card information window for suppliers
2. Enter details about supplier ( buying information, credit limit, task information & credit terms – earlier appear by
default suppliers)

Setting up tax code are used to track tax paid, you can use every tax code for every sales, purchase

Steps
1. Got to the list menu and choose tax code
2. Click new- tax information
3. Complete the entries as for this window

To assign tax code to account, you can assign tax code to any account in your account list
To assign tax code to items – you can assign tax code to be used in item
To assign tax code to cards – each customer has an assigned card to know which tax code belongs to the customer

Definition of accounting

Purpose of accounting
-provide info. among the stability and profitability
-protect properties of enterprise

Terminologies
recording
classifying
summarizing
interpreting

accounting cycle (8)

journalizing
posting
pre trial
preparing worksheet
posting and costing

accounting sequence

tools for accounting

t accounts
debit
credit

advantages of a computer based system

What is MYOB?
Family of MYOB accounting
business basic
MYOB Accounting
MYOB PRemier

How does MYOB works?

Give at least 5 features of MYOB

general journal
sales and accounts receivables

2 ways to start MYOB

What are the MYOB Welcome window? (5)

Create a company file

Open a company file
Open a sample company
What's new in disbursion?
Exit

ACCESSING MYOB
-Go to Administrator, provide password and click okay
-Activate and confirming a company file
-(30 days in activation of the company)
-(if company file not activated within 30 days, the file becomes READ-ONLY)
-(you can activate you're company file through internet or calling MYOB)

MOVING AROUND WITH MYOB PREMIER

-use mouse to point and click functions you wish to enter
-click icons to activate
-tab, alt, enter, escape KEY (memorize definition) key command centers

7 MAJOR COMMAND CENTERS

Time billing
accounts purchase
sales
banking

OPTIONS AVAILABLE IN EACH COMMAND CENTER

analysis - to display windows to analyze
reports - view lists available
to do list - to build the business task
find transactions - view summary info in each accounts

MENU BAR
contains related commands and options allowing you to control your MYOB

PULL DOWN Menus

related commands used to perform specific task of instructions

8 PULL DOWN MENUS in MYOB PREMIER

1) File Menu - set up a new company.
2) Edit - to edit, delete, transactions
3)List - add or make changes in your company
4)command center - perform all day-to-day accounting activities
5) set-up - enter account opening balances of your company, designing of forms, setting up
passwords
6)Report - used to generate, customize and print the MYOB intalled reports
7)Window - open windows within MYOB application window
8)HELP MENU - activate your company file and access built-in MYOB functions

TOOLS available inside myob

zoom arrow
white zoom arrow- you can zoom to more detailed info and make changes and easy to delete
gray zoom arrow- you can zoom to more detailed info but read-only (kung may changes reverse it)
Search icons - option to select a record to appear in the field
calendar - simplify dates entry
calculator - simplify calcutation
learning center icon - access comprehensive list of MYOB features and info.

conversion month - earliest month in the financial year for which transactions are to be recorded

2 ways to open company file

set-up assistant - customize your company file
command center - begin entering transactions right away

supplier card information

buying info/credit limit/tax info/credit te

PROCEDURES IN CREATING A COMPANY FILE

Memorize, how to create a company profile

2ways to create a company profile

1) through setup assistant - customize your company file
2) through command center - begin entering transactions right away

Procedures to create new company file

1)Supply the following information:

-company name
-legal name
-address, city

NAme, address, email, contact number

2)fINANCIAL YEAR,Conversion month

3) Select which accounts do you prefer

-types of accounts list
list of accounts provided by MYOB
list of accounts provided by your accountant
provided by yourself/ create your own

4) Check the defualt name and location of the company

 -make your necessary changes if needed

5) Enter transactions right away and/or customize your company file

LIST OF ACCOUNTS

1) Create an account list presented below

account types
A) specify wether it is a header or a detail account
..HEader account - are group related accounts
..Detail accounts - postable accounts

B)Enter account number, account name, and tax code

c)Type a description explaining the purpose of the account

2) Enter your account opening balances

3) Make changes, delete, add any accounts if you may do so

SETTING UP SALES DETAILS

go to Customer Navigator -> Estimates

Setting up sales details - help you send a setup information about your customers and the sales
Before using the gather a list of customers with name, adresses, contact numbers
gather list of sales that haven't been fully paid (all transactions)

Sales Price - TAx = net

1) Choose the sale layout that you expect to use most often.
2) Choose default selling details entries to speed up the task of creating a new customer cards
3) Select the tax code (Philippine Tax) that you may use for sales and freight charges
4) Enter the credit terms you generally extent to your customer and the default
payment period
5) REview the default accounts that will be used to track your customer receipts and
undeposited accounts
6) Enter the historical sales - "sales made that haven't been paid in full"