Join Elizabeth Haverfield for an in-depth discussion in this video Viewing the setup of tax codes, part of MYOB AccountRight Essential Training.
In this video, I will demonstrate how to…view the text codes available in MYOB account write.…Text codes are used when we process transactions such…as entering sales invoices, purchase orders, spending and receiving money.…In fact, each transaction we enter requires a tax code in order for MYOB…Account Right to be able to prepare…reports which will indicate the amount of taxes…to pay, or could potentially expect…to receive from the Australian taxation office.…
To view the tax code list, go to the Lists menu on the menu bar.…And choose Tax Codes.…A list of the default tax codes will appear on screen.…MYOB Account Right comes with a standard set of text codes.…However, you will need to check that they…are linked to the Accounts List correctly, and…possibly add other tax codes relevant to your industry or business.…A list of commonly used text codes for most businesses…can be located on the Australian taxation website under businesses.…
Lets have a look at one of these…text codes, click onto the zoom arrow beside GST.…
- 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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