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MYOB (Advanced)

Course Description

The most popular accounting software course - MYOB training (Advance)

Course Objective

By the end of this workshop, participants will be able to:

  • Use MYOB computerised accounting software to:-
    • Use the multi-currency function to keep accounts
    • Prepare budgets
    • Set up jobs to track projects P&L
    • When and how to record general journals
  • Understand the glossary of accounting terms
  • Understand accruals, prudence and matching concepts, as well as other accounting principles
  • Understand interaction between Inventories and related accounts
  • Provide for depreciation, bad debts and other entries
  • Understand and interpret financial statements
  •  Submit GST returns to IRAS and the relevant accounting entries

Target Audience

Non-Accounting graduates who would like to be able to keep and manage a full set of accounts.

Accounts and Admin Assistants/Executives, Bookkeepers, Accountancy students and anyone who has an interest in Accounts

Prerequisites

Completed ‘Prepare Accounts Using MYOB – Beginner’ class

Methodologies

Hands on and real life scenarios and documents

Course Content

Topic 1: Activate Multiple Currencies Feature

  • Change currency of an account
  • How to set up Trade Debtors/Creditors in other currencies

Topic 2: Jobs & Budgeting

  • Budget the P&L and Balance Sheet
  • Creating Jobs and budget for them

Topic 3: Inventory accounting and methods of valuation

  • Different valuation methods of inventory – FIFO, LIFO and Weighted Average
  • How inventory works and interaction with GL
  • Treatment of raw materials, WIP and Finished Goods
  • Difference between perpetual and periodic inventory
  • Advantages and disadvantages of each method of valuation

Topic 4: Setting Up Inventory List

  • Create Inventory Items
  • Customise Price Levels, List and Field Names
  • Inventory Opening Balance

Topic 5: Managing Purchases

  • Record Item Purchase Order
  • Convert Purchase Order to Bill
  • Creating a Backorder
  • Pay Bills
  • Record Bills from foreign currency supplier and Pay bills

Topic 6: Managing Sales

  • Record Item Quote
  • Convert Sales Quote to Sales Order
  • Convert Sales Order to Sales Invoice
  • Customer Payments
  • Record Invoices to foreign currency customer and Receive Payments

Topic 7: Managing Inventory

  • Multiple Warehouses
  • Allocate inventory to multiple warehouses
  • Completing a Stock Take
  • Inventory Adjustment
  • Build Items Function
  • Auto-Build Items function

Topic 8: Journal entries and posting into accounts

  • Concept of ‘double-entry’ and journal postings
  • Accounting for fixed assets
  • Making entries for depreciation, amortizations, bank charges and interests
  • GST reporting to IRAS and posting into accounts

Topic 9: Reports

  • Generate GST Reports
  • Accounting Reports
  • Sales & Purchases Reports
  • Inventory Reports
  • Jobs Reports

Course Duration

1 Day

Course Time

9am to 5pm

Course Fee

$185.00

(Group Discount of 10% for 3 or more participants)

Course Dates

21 Sep 2018
19 Oct 2018
23 Nov 2018
4 Dec 2018