Accounting. We’ll help you take care of your finances.

This MYOB (‘Mind Your Own Business’) AccountRight course will provide you with facilitator-led, guided instruction through the introductory steps for using MYOB, with a small class size. It will help you better manage your accounting, taxes and bookkeeping.

The course commences with basic book-keeping and accounting principles, and how these principles are captured in MYOB. You will then be taught how to apply MYOB software to a range of everyday financial transactions. This will include setting up a chart of accounts, recording daily transactions, performing bank reconciliations and preparing financial reports.

You will be guided through the current MYOB Cloud Accounting software (AccountRight) and how it evolved from earlier MYOB versions.

Aims

The aims of this course are to develop the following skills using MYOB software:

• How to commence with MYOB AccountRight software
• Creating a new company file
• Creating a Card File
• Setting up a Chart Of Accounts
• Entering Opening Balances and Historical Data
• Setting up and preparing the following book-keeping requirements
  • Inventory
  • Purchasing
  • Selling, including Invoicing
  • Accounts Receivable
  • Accounts Payable
  • Bank reconciliations
• Dealing with GST and Business Activity Statements
• Preparing accounting reports

Outcomes

By the end of this course, you should be able to:

• understand how MYOB AccountRight is set up
• prepare inventory records
• enter sales transaction data and receipts
• enter purchase items and payments
• reconcile AccountRight data against company bank statements
• work with the reporting system in AccountRight
• understand how AccountRight works with the GST
• complete a Business Activity Statement (BAS)
• use the MYOB Community Board.

Content

Getting started with MYOB

• MYOB’s Main Command Centre screen
• Creating Your MYOB Data File
• Preparing a Chart of Accounts in MYOB

Basic book-keeping principles in MYOB

• Entering Opening Balances in MYOB
• Preparing a transaction Journal
• Importing Transactions in MYOB
• Entering Cash Transactions in MYOB
• Creating Bank Feeds
• Performing Bank Reconciliations
  • Reconcile automatically by downloading bank statements
  • Reconcile manually using the bank statement

Sales

• MYOB Sales Command Centre screen
• Developing a MYOB Sales register
• Preparing customer lists in sales
• Customising Invoices in MYOB
• Processing quotes, orders and invoices
• Entering a service invoice, including time-billing
• Entering items, changing item information, changing invoice payment terms
• Recording a cash sale
• Credits, Bad Debts and Reversals
• Analysing sales

Accounts Receivable

• Debtors Opening Balances in MYOB
• Receive payments, part-payments and over-payments for an invoice

Purchases

• MYOB Purchases Command Centre screen
• Developing a MYOB Purchases register
• Preparing custom lists for suppliers in purchases
• Creating a purchase order
• Converting purchase order to an invoice
• Create an item credit, settling credits

Accounts Payable

• Creditors Opening Balances in MYOB
• Make payments using the Pay Bills window
• Analyse payables

Inventory

• Creating an inventory item
• Inventory Opening Balances
• Inventory Management

Capital purchases

• Purchasing a Capital Item

Tax, GST and BAS

• Default Tax Codes in MYOB and determining which tax codes you need for your business
• Transactions with GST in MYOB
• Preparing the BAS in MYOB

Other tools in MYOB

• Set preferences
• Keyboard shortcuts
• Understand linked accounts
• Export Data Backups
• Reports in MYOB
• End of period balancing and reporting

Intended audience

Designed for anyone wanting to learn how to use MYOB to enter daily financial transactions and manage accounting records for a small to medium business. Positions that could benefit from this course include:

• Bookkeeper
• Accountant
• Office Administrator
• Financial Controller
• Finance Officer
• Accounts Administrator
• Sales or Purchasing Officer
• Small business owners
• anyone wanting to improve their Bookkeeping skills.

Prerequisites

Suitable for all skill levels, as it covers bookkeeping and MYOB from first principles. However, this course will be more beneficial if you have a basic understanding of bookkeeping principals. Basic computer skills are required.

Delivery modes

• Face-to-face, presenter-taught training using your own device
• Online training via the platform Zoom

Delivery style

The development of MYOB skills will be supported by examples and worked exercises. This one-day course uses real business data throughout the course so that you learn the entire bookkeeping, accounting and MYOB process through actual business examples.

Face-to-face classes

These classes run in a classroom and you need to bring your own device with MYOB AccountRight installed. You should ensure your device is fully charged as access to power is limited. Please note that University does not carry any responsibility for your lost, stolen, or damaged devices whilst on the University premises.

Online classes

You will need your own device with MYOB AccountRight installed.

Materials

A link to download and access online course materials will be provided.

Before the course

Please ensure MYOB AccountRight is installed on your device before class. A 30-day free trial can be downloaded from MYOB.