Join Elizabeth Haverfield for an in-depth discussion in this video Creating a company file, part of MYOB AccountRight Essential Training.
We are now going to learn how to set up a New Company File using MYOB AccountRight Setup Wizard. Let's start by double clicking the icon to open MYOB AccountRight. They will be an icon on your desktop. When the welcome window appears, click on the Create New Company File option in the menu. This will then open the New Company File Assistant. This assistant will guide us through the six step setup process. Click next to continue, and view the company information window.
In this window, we need to enter some information about Carol's Cleaning. Let's go through each step together. For the purposes of this training course, we will leave the serial number blank, as we are using the student edition that does not require a serial number. However this field dose need to be completed when using a commercial MYOB product. Next we will enter the company name by clicking into the Field, and typing Carols Cleaning. Tab to the ABN number and type in 35670309.
989 and Tab down to the Address, and type in 11 Main Street, Enter to start a new line and place Melbourne, Victoria 3000 is the post code. Tab down to the phone number and type the area code 03 9222 2222 tab to the fax number and place the area code 03 9222 2211 and tab to the email address, email@example.com.
And click Next, to move to the Accounting Information window, in this window we enter information about the accounting year. For Carol's Cleaning, the financial year is in 2013. Our current month, for the conversion, is going to be January, so see our conversion month says July. Use the drop down box to change it to January. The last month of the financial year is June. Remember that the conversion month is the month in which we choose to begin entering transactions.
We will choose to set up the number of accounting period to be 13. I know there are only 12 months in the year, but if we need to choose 13, so that our year end adjustments can be assigned to the 13th period. This ensures that our final month's accounting records remain accurate. By clicking Next, we are given the chance to check our accounting information, and once we're happy with the data, we click Next to confirm the information window is correct. The Build Your Accounts List window appears.
We are now going to select, I would like to start with one of the lists provided option. There are also options to import a list of accounts provided by an accountant, or it is possible to build a customized accounts list. We will click Next to move on to select the account list. Ensure that our industry classification is service and in our business type, click on to the drop down box and choose Cleaning service, that's our type of business. Use the business type button and we have now selected our account list.
Click Next and the Create your company file is displayed. This shows the location where the data file will be saved and the suggested name. And the name and location can be changed by clicking into the change button. We will accept the default path and name, saving the new company file in MYOB AccountRight folder. When we click Next, the MYOB Account Right confirms that the company file (SOUND) We will now choose the Command Center to return to the main screen.
We have just created a new data file.
- Creating a company file
- Setting up tax codes
- Adding accounts
- Creating customer and supplier cards
- Performing a bank reconciliation
- Recording transactions
- Invoicing a customer
- Processing payments
- Entering and paying bills
- Recording cash sales
- Reconciling check accounts
Skill Level Beginner
1. Getting Started with MYOB
2. Working with the Accounts List
3. Adding Cards
4. Entering Historical Balances
5. Performing an Initial Bank Reconciliation
6. Backing Up and Restoring a Company Data File
7. Spending Money from the Cheque Account
8. Invoicing a Service Customer
9. Recording Customer Payments
10. Entering and Paying Bills
11. Receipting Cash Sales
12. Reconciling the Cheque Account
Next steps1m 56s
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