MYOB (Beginner)
Course Description
Funding available for this course
The most popular accounting software course - MYOB training
Course Objective
By the end of this workshop, participants will be able to:
- Use MYOB computerised accounting software to perform day-to-day accounts
- Understand the basics and need for Accounting
- Understand the glossary of accounting terms
- Explain and understand the concept of double-entry (debits and credits) and what is meant by ‘books must be balanced’
- Understand what are financial statements
- Relationship between all accounts and the financial statements (how and which category do they fall into)
- Understand AR and AP
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
Basic Principles of Accounts or 2 years of working experience in office administration.
Methodologies
Hands on and real life scenarios and documents
Course Content
Topic 1: Computerised/Automated Accounting
- Difference between manual and computerised accounting
- Working in a computerised accounting environment
- Filing and proper record keeping
Topic 2: History and the necessity of bookkeeping
- Origin and brief background of bookkeeping
- Difference between financial accounting and management accounting
- Why and necessity of bookkeeping
Topic 3: Getting Started With MYOB
- How to start up MYOB and set up a new data file
- Overview of the modules in MYOB
Topic 4: Setting Up Chart of Accounts
- Management of Accounts List, Accounts classification & types
- How the accounts are arranged, prefix and classification
- Delete, create and edit an account
- What is linked account
Topic 5: Setting Up Card File
- Cards List
- Create a New Card and explain all the 7 tabs in the Card Information
- Custom Lists and Field Names
- View Contact Log in To Do List
- Print Mailing Labels
- Create Personalised Letters
Topic 6: Opening Balances
- Enter Account Opening Balances
- Enter Supplier & Customer Balances
- Initial Bank Reconciliation
Topic 7: Managing Sales (service layout)
- Introduction to the Sales Register
- Record Quote
- Convert Quote to Sales Invoice
- Customer Payments
- Recording and Settling Credit Notes
- Print Or Email Sales Invoices and Print Receipts
- Print Or Email Statements
Topic 8: Managing Purchases (service layout)
- Introduction to the Purchases Register
- Record Purchase Order
- Convert Purchase Order to Bill
- Creating a Backorder
- Pay Bills
- Recording and Settling Credit Note from supplier
- Print Purchase Order
Topic 9: Accounts Receivables & Accounts Payable
- Understanding how Accounts Receivables work and relates to General Ledger
- Understanding how Accounts Payables work and relates to General Ledger
- Understanding the importance of bank reconciliation
- Performing AR and AP reconciliations
Topic 10: Banking
- Introduction to the Bank Register
- How to Record Income or Expenses not related to Sales or Purchases
- Monthly Bank Reconciliation
Topic 11: Reports
- Generate GST Reports
- Accounting Reports
- Sales & Purchases Reports
Topic 12: Customizing forms
- Customise sales invoices, PO, etc.
Topic 13: User ID setup & Access Rights