Lecture Notes
QUEENSLAND UNIVERSITY OF TECHNOLOGY
QUT BUSINESS SCHOOL
ACCOUNTANCY
MYOB Workbook
Semester 2 2013
Contents
Overview 1
Introduction 2
Downloading the MYOB Workbook 2
An Introduction to MYOB 2
Using the Vallely Textbook 3
Doing the Assignment 3
Getting Ready 4
Backup Procedure 4
Restoring a Backup File 4
Finding and Fixing Mistakes 5
General 5
Finding the Mistake 5
Fixing the Mistake 6
If All Else Fails 6
Common Mistakes 6
SECTION A - MYOB DATA FILE SETUP
MYOB Workshop 1 – Setting up MYOB 7
Chapter 1 - Installing MYOB on your personal computer 7
Chapter 2 - File Creation, Security and Maintenance 7
Chapter 3 - Chart of Accounts 8
Chapter 4 - Cash Disbursement and Purchasing 9
Chapter 5 - The Setup of Inventory and Other Items 9 Quiz A 10
SECTION B - BUSINESS TRANSACTIONS
MYOB Workshop 2 – Expenditure Cycle 12
Chapter 6 - Purchasing and Supplier Payments 12 Checking Your Progress 13
MYOB Workshop 3 – Revenue Cycle 14
Chapter 7 - The Revenue Cycle: Sales and Cash Collections 14 Checking Your Progress 15
MYOB Workshop 4 – Month End & Payroll Cycle 16
Chapter 8 - End of Month Process 16
Chapter 9 - HR & Payroll Cycle 17
Chapter 10 - Not Required 18 Checking Your Progress 18 Quiz B 19
APPENDIX A – Installing MYOB at Home 20
Overview
Please note that this workbook is broken into 2 sections namely:
* Section A – MYOB Data File Setup * Section B – Business Transactions
MYOB Data File Setup (Section A) – Covers Vallely - chapters 1 to 5.
This section undertakes the initial set up of Accounts, Suppliers and Inventory Items. As this section is quite long and tedious, you are only required to do small parts of it. For example, instead of setting up the full chart of accounts you only need to set up the asset accounts, and instead of setting up over 40 different inventory items you only need to set up two items.
The parts that you need to do are clearly identified in
QUT BUSINESS SCHOOL
ACCOUNTANCY
MYOB Workbook
Semester 2 2013
Contents
Overview 1
Introduction 2
Downloading the MYOB Workbook 2
An Introduction to MYOB 2
Using the Vallely Textbook 3
Doing the Assignment 3
Getting Ready 4
Backup Procedure 4
Restoring a Backup File 4
Finding and Fixing Mistakes 5
General 5
Finding the Mistake 5
Fixing the Mistake 6
If All Else Fails 6
Common Mistakes 6
SECTION A - MYOB DATA FILE SETUP
MYOB Workshop 1 – Setting up MYOB 7
Chapter 1 - Installing MYOB on your personal computer 7
Chapter 2 - File Creation, Security and Maintenance 7
Chapter 3 - Chart of Accounts 8
Chapter 4 - Cash Disbursement and Purchasing 9
Chapter 5 - The Setup of Inventory and Other Items 9 Quiz A 10
SECTION B - BUSINESS TRANSACTIONS
MYOB Workshop 2 – Expenditure Cycle 12
Chapter 6 - Purchasing and Supplier Payments 12 Checking Your Progress 13
MYOB Workshop 3 – Revenue Cycle 14
Chapter 7 - The Revenue Cycle: Sales and Cash Collections 14 Checking Your Progress 15
MYOB Workshop 4 – Month End & Payroll Cycle 16
Chapter 8 - End of Month Process 16
Chapter 9 - HR & Payroll Cycle 17
Chapter 10 - Not Required 18 Checking Your Progress 18 Quiz B 19
APPENDIX A – Installing MYOB at Home 20
Overview
Please note that this workbook is broken into 2 sections namely:
* Section A – MYOB Data File Setup * Section B – Business Transactions
MYOB Data File Setup (Section A) – Covers Vallely - chapters 1 to 5.
This section undertakes the initial set up of Accounts, Suppliers and Inventory Items. As this section is quite long and tedious, you are only required to do small parts of it. For example, instead of setting up the full chart of accounts you only need to set up the asset accounts, and instead of setting up over 40 different inventory items you only need to set up two items.
The parts that you need to do are clearly identified in