MYOB For Dummies

Unlock the power of MYOB with the ultimate handbook: MYOB for Dummies

Looking for a hands-on guide that will show you how MYOB helps you manage everyday business tasks? Want practical tips for handling your finances (including payroll and tax reporting!) more easily? Comprehensively updated for the new MYOB Business, MYOB For Dummies shows you how to take full advantage of the online flexibility and handy features offered by Australia’s leading home-grown business management platform.

Whether you’re new to MYOB Business or wanting to get more from AccountRight, this is your guide to becoming an MYOB master! You’ll learn, step by step, how to develop a customised workflow for all your bookkeeping and accounting tasks. With MYOB For Dummies, you’ll be able to make the most of MYOB’s real-time data insights—so you can run your business from anywhere and make better business decisions on the go.

• Learn how to choose a plan and set up your MYOB file
• Get tips for saving time and money by automating tasks
• Discover better solutions for managing day-to-day transactions, expenses, and cashflow
• Centralise your data in a platform that will grow and evolve with your business

Join MYOB consultant and professional bookkeeper Sonya Prosper as she shares her in-depth knowledge of how to get the best out of MYOB. MYOB For Dummies delivers the clear and simple guidance you need for managing more clients and more business—with less stress.

Foreword xv

Introduction 1

Part 1: Getting Started with MYOB 5

Chapter 1: Introducing MYOB Business 7

Chapter 2: Accounts, Customers and Suppliers 31

Chapter 3: Setting Up Opening Balances 53

Part 2: Everyday Activities 67

Chapter 4: Making Sales 69

Chapter 5: Changing the Game with Bank Feeds and Rules 99

Chapter 6: There Goes Your Cash! 133

Chapter 7: Here Comes the Money 155

Chapter 8: Purchases and Supplier Payments 187

Chapter 9: Reconcile Yourself 221

Part 3: Taking the Next Step 241

Chapter 10: Managing Items 243

Chapter 11: Setting Up Payroll 265

Chapter 12: Paying Your Employees 291

Chapter 13: Working with MYOB Team 323

Chapter 14: Taking Electronic Payments to the Next Level 349

Part 4: Making MYOB Work for You 363

Chapter 15: Reporting for Business 365

Chapter 16: The Gist of GST 381

Chapter 17: Understanding Your Business 407

Chapter 18: Keeping Your Accounts in Top Shape 425

Part 5: The Part of Tens 441

Chapter 19: Ten Useful Tools for Managing Cashflow 443

Chapter 20: Ten Essential Tasks When Preparing Your Business Activity Statement 451

Index 461

Sonya Prosper is a Product Success Consultant at MYOB. As well as delivering webinars and training on MYOB, Sonya is also a Certified Consultant and professional book-keeper with 15 years’ experience. She loves to empower small business to succeed by making better business decisions based on real insights.

Streamlined, all-in-one accounting made easy

When it comes to accounting, MYOB is the go-to solution—even when you’re on the go. And MYOB For Dummies is the book you need to learn the ins and outs and take full advantage of all the features MYOB has to offer. Inside, you’ll find step-by-step instructions for getting started with MYOB, managing accounts, tracking income, setting up payroll, figuring taxes, and so much more. With this comprehensive Dummies guide, you can get your bookkeeping sorted, and focus all your attention on creating business success.

Inside…

• Managing your cashflow
• Customising MYOB options
• Creating professional reports
• Scaling as your business grows
• Paying your employees
• Accessing your data from anywhere
• Preparing your Business Activity Statement