FNSACCT407B Set up and operate a computerised accounting system

Transcription

1 A Step by Step Approach to Set up and Operate a Computerised Accounting System using MYOB AccountRight v19 Copyright Notice: Copyright 2010 Software Publications Pty Ltd. All rights reserved. No part of this material may be reproduced or copied in any form or by any means (graphic, electronic or mechanical, including photocopying or by information retrieval systems) without permission in writing from Marian Brown. Originating Author: Marian Brown Dip T [Commerce], MICB BAS Agent Cert IV Workplace Training and Assessment, Cert IV in Financial Services [Bookkeeping] MYOB Certified Consultant for 15 years, BAS Agent MYOB Accredited Author, MYOB Publisher, MYOB Accredited Trainer MBS Training Services Pty Ltd sales@mbsts.com.au Revised August 2010: Cindy Drew, Dip Teach, B Ed., MICB BAS Agent Cert IV in Financial Services [Bookkeeping] MYOB Certified Consultant 10 years MYOB Accredited Trainer MYOB Developer Training and Business Services Pty Ltd Publishers: Software Publications Pty Ltd [ABN ] Head Office Sydney Unit 10, 171 Gibbes Street Chatswood NSW 2067 Phone: Web address: ISBN FNSACCT407B Set up and operate a computerised accounting system Software Publications Pty Ltd 2010 Set up and Operate a Computerised Accounting System Table of Contents i

2 Copyright/Trademark Information: MYOB, MYOB AccountEdge, MYOB AccountRight Standard, MYOB AccountRight Plus, MYOB BusinessBasics, MYOB FirstEdge, MYOB M-Powered, MYOB M-Powered Services, MYOB M-Powered Bank Statements, MYOB M-Powered Invoices, MYOB M-Powered MoneyController, MYOB M-Powered Payments, MYOB ODBC Direct, MYOB PowerPay, MYOB AccountRight Premier and MYOB AccountRight Enterprise are registered trademarks or trademarks of MYOB Technology Pty Ltd and their use is prohibited without prior consent. Ceedata, Solution 6 MAS and Xlon are registered trademarks or trademarks of Solution 6 Holdings Limited, a member of the MYOB group. Bpay is a registered trademark of Bpay Pty Ltd, ABN MasterCard is a registered trademark of MasterCard International Inc. Microsoft, Access, Excel, Internet Explorer, Office, Outlook, Smart Tags, Windows and Word are registered trademarks or trademarks of Microsoft Corporation in the United States or other countries. VISA is a registered trademark of Visa International Service Association. Other products mentioned may be service marks, trademarks or registered trademarks of their respective owners. Screen captures from MYOB AccountRight Plus v19 reproduced with permission. Limitations of Liability: This material is designed to provide basic information on how to use MYOB AccountRight Standard/AccountRight Plus v19. Because business circumstances can vary greatly, the material is not designed to provide specific GST or business advice for particular circumstances. Also, because aspects of the GST are complex and detailed, the material is not designed to comprehensively cover all aspects of the GST. Further, the laws implementing GST and rulings and decisions under those laws may change. Before you rely on this material for any important matter for your business, you should make your own enquiries about whether the material is relevant and still current, and whether it deals accurately and completely with that particular matter; and as appropriate, seek your own professional advice relevant to that particular matter. This information is for the general information of MYOB clients and is not to be taken as a substitute for specific advice. Consequently Software Publications Pty Ltd will accept no responsibility to any person who acts on information herein without consultation with Software Publications Pty Ltd. The information in this book is relevant to MYOB AccountRight Plus v19. Earlier or later versions of MYOB software could change the instructions in this workbook. Please note: The information in this workbook is accurate at the time of revision [August 2010] only. Because legislation and associated websites are constantly changing, url s and screen dumps of websites in this workbook may have changed. Software Publications Pty Ltd 2010 Set up and Operate a Computerised Accounting System Table of Contents ii

3 Unit 11: Sales Command Centre Learning Outcomes On completion of this unit, you will be able to: open your MYOB data file and enter cash and credit sales; print invoices and adjustment notes; enter customer payments; print statements; reconcile receivables and bank account; identify and follow up overdue accounts; and print sales and receivable reports. This unit covers the following performance criteria: Element 2.1 Element 2.2 Element 2.4 Element 3.1 Element 3.2 Element 4.1 Element 4.3 Input data is collated, coded and classified before processing. A wide range of cash and credit transactions are processes in both a service and trading environment. The system outputs is reviewed to verify the accuracy of data input. Any new customer records are added as required. Any existing customer records are maintained and updated. Reports to indicate the financial performance and financial position of the organisation are generated. Reports to ensure that subsidiary ledger/accounts reconcile with the general ledger are generated. Software Publications Pty Ltd 2010 Set up and Operate a Computerised Accounting System V19 Unit 11: Sales Command Centre 121

4 Sales Command Centre The Sales Command Centre allows you to create invoices, adjustment notes, receive payments from customers, settle returns and credits and print invoices and statements. Open your MYOB data file SETUP19U11 In this unit you will open a NEW DATA FILE belonging to [Your Name] Copy Centre, just in case your previous data file had errors. Open SETUP19U11. DO NOT use the data file from the previous unit. Back up your data throughout this unit to ensure against loss or corruption of data. Changing your Business Name Change the name of the business in your data file to include your name. [Refer to Page 57] Also check the Current Financial Year in Company Information. [Refer to Page 57] In this unit, you will enter the transactions for the current month. This month does not have to be the same as the month used in previous units. The month you will use in this unit will be:. Notes on CASH and ACCRUAL Accounting In previous units you entered accounting transactions using CASH ACCOUNTING PROCEDURES ie you entered the transactions when the money was actually received or paid. From this point, ACCRUAL ACCOUNTING PROCEDURES will be used ie the transactions will be entered in MYOB when the transaction occurs or money is received, whichever comes first. You will be entering invoices for goods sold and services performed and customers are expected to pay in an agreed number of days. 122 Unit 11: Sales Command Centre Set up and Operate a Computerised Accounting System V19 Software Publications Pty Ltd 2010

5 {Your Name} COPY CENTRE POLICIES AND PROCEDURES SALES AND CUSTOMER RECEIPTS 1 A Job Card is created for each job in the Copy Centre. 2 The Service or Professional Tax Invoice is created from this information. An item invoice is used when stock is sold. 3 All invoices are printed on plain paper using a customised MYOB invoice. All invoices are Tax-Exclusive invoices. Invoices are issued when the job is completed and handed to the customer when copying is received. 4 Cash and Cheques received each day are processed immediately, stored in a safe place and banked when convenient. 5 A card for each customer is established in MYOB and used as a database. The company has obligations under the Privacy Act 1988 to ensure that the details it stores about its customers are current and correct. 6 To assist with cash flow, aged receivables reports are printed each month and overdue accounts are followed up immediately. Overdue Account procedures are covered later in this unit. 7 A Statement is printed and dispatched to customers at the end of each month. Notes on Invoices When Goods or Services are provided and the GST Sale is more than $75 exclusive of GST, a Tax Invoice must be issued to the customer as proof of purchase. A customer cannot claim the Input Tax Credit [GST] unless your invoice contains the following: The suppliers identity and ABN If the consideration for the supply is $1000 or more, or the by the recipient, the recipient s identity or ABN What is supplied, including the quantity and price of what os supplied; The extent to which the supplies are taxable The date of issue The amount of GST payable and if the document is a recipient created tax invoice, that the GST is payable by the supplier It must also be clear from the document that it is intended to be a tax invoice, and if the document is issued by the recipient, a recipient created tax invoice. Source : Explananatory Memorandum to Tax Laws Amendment (2010 GST Administration Measures No 2) Note : If amount <$75 ex GST, docket is still required for income tax purposes ie $82.50 inc GST. Your advertised price should be TAX-INCLUSIVE. Software Publications Pty Ltd 2010 Set up and Operate a Computerised Accounting System V19 Unit 11: Sales Command Centre 123

6 Creating a SERVICE Invoice Your business photocopied 1000 flyers for Ross Wilson [a regular customer]. Job Cards are always created for each job. This Job Card is used to invoice. 3/month you are using Ross Wilson Photocopying [1000 flyers] JOB CARD $ inc GST To record this sale using a SERVICE layout invoice: (i) (ii) Select the Sales Command Centre. Select Enter Sales. The following window will be displayed. (iii) MYOB gives the user a choice of Invoice Layouts. click on Layout at the bottom of your window to view the different layouts available. The window on the following page is displayed. 124 Unit 11: Sales Command Centre Set up and Operate a Computerised Accounting System V19 Software Publications Pty Ltd 2010

7 (iv) Select the radio-button in front of each invoice layout to view the layout of each invoice. (v) Select the Service layout and click on OK to return to your Invoice window. To enter the Credit Sale for Photocopying: (i) In the Customer Card field, CLICK on the Search Icon. The following window will be displayed: (ii) Point to Wilson, Mr Ross and double-click to select. (iii) Enter the date of the sale 3/month you are using. (iv) Click in Description or TAB to Description and key in the sale details like this: (v) Press TAB to move to Acct #. Software Publications Pty Ltd 2010 Set up and Operate a Computerised Accounting System V19 Unit 11: Sales Command Centre 125

8 (vi) Press TAB to display the Accounts List and select the appropriate account from the list. [ Sales - Photocopying] Or click on this Search Icon and select Sales Photocopying from the list. (vii) Press TAB to move to the amount column. (viii) Key in the amount 335 [Amount includes GST because Tax Inclusive option has been selected] and press TAB. Your Service Invoice should look like this: Customer Order or Job Card number can be added. Salesperson, Comment, Method of Dispatch, Dispatch Date and a Referral Source such as Yellow Pages, can also be added. (ix) Click on Record to record this entry. [You will print invoices later in this Unit.] 126 Unit 11: Sales Command Centre Set up and Operate a Computerised Accounting System V19 Software Publications Pty Ltd 2010

9 Changing Method of Selecting the Appropriate Account The MYOB User can select from the Accounts List using Account Number [method used up to this point] or Account Name [method used on this page]. To change the method used to Account Names: (i) (ii) In the Menu Bar, select Setup Select Preferences. (iii) Select Windows TAB. (iv) Select the Account Name option like this: (v) Click on OK to return to your sales window. Return to the Command Centre. Creating a Professional Invoice 8/month you are using Customer: 1/month Photocopy 200 Price Lists 8/month Photocopy 50 Conference Notes AMOUNT OWING JOB CARD F Wilson $ [inc GST] $ [inc GST] $ [inc GST] To enter the above sale: (i) (ii) Select the Sales Command Centre button. Select Enter Sales. (iii) Create a new Customer Card for Ms F Wilson like this: (a) (b) (c) Click on the Search Icon to the right of the Customer Card field. Select New. Key in the Profile details for F Wilson displayed on the following page. [Use TAB to move from field to field.] Software Publications Pty Ltd 2010 Set up and Operate a Computerised Accounting System V19 Unit 11: Sales Command Centre 127

10 Change to Individual (d) (e) (f) Only 1 Address is required. [You can key in 5 different addresses with corresponding Phone/Fax numbers.] No Card Details required. Click on the Selling Details TAB and key in the following Selling Details : Type of invoice layout used, printed invoice form to be used, account usually used and invoice delivery eg can be selected here. CLICK on Search Icon, and SELECT this account name. [displayed below] F Wilson has 30 days from the date of invoice to pay the account. Accounts List displayed using Account Names instead of Account Numbers. 128 Unit 11: Sales Command Centre Set up and Operate a Computerised Accounting System V19 Software Publications Pty Ltd 2010

11 (g) Click on the Payment Details TAB and key in the following usual method of payment: (h) Click on OK to return to your invoice. (iv) In the Card Field, select Ms F Wilson. The Professional Layout should be selected if selected on F Wilson s card. The Professional Layout allows a date for each entry. (v) Key in the following job details: [Use TAB to move from field to field.] [DUPLICATE FROM PAGE 127] 8/month you are using JOB CARD Customer:... F Wilson 1/month Photocopy 200 Price Lists... $ [inc GST] 8/month Photocopy 50 Conference Notes... $ [inc GST] AMOUNT OWING $ [inc GST] Your Professional invoice should look like this: Account Name instead of Account Number now displayed. (vi) Click on Spell to run the spell check and correct any errors. DO NOT RECORD Software Publications Pty Ltd 2010 Set up and Operate a Computerised Accounting System V19 Unit 11: Sales Command Centre 129