MYOB Tips

Create a SUSPENSE account (Call it 9-1000 SUSPENSE) to apply entries to until you know where to allocate them. You may be waiting to hear from your accountant or consultant, or you may need to check the GST. This way you can easily find it again through Find Transactions > Account > 9-1000 SUSPENSE and make your changes.

To find a transaction where you only know the amount go to Find Transactions > Accounts > Advanced, change the Search by to All Accounts, enter the amount “From” and “To” as the amount of the transaction and click ok. Find Transactions will display all transactions with that amount.

Rather than bringing up the account list to allocate the account each time you enter a spend money transaction, go to Cards > Cards List > (Click Zoom arrow next to chosen supplier) > Buying Details > enter the usual expense account in under “Expense Account” and click ok. This will then default automatically when recording their transaction.

In the new version of MYOB - Accounting V16 and Premier V10 you have the ability to merge two account numbers, or two cards that you may have duplicated and then applied entries to. To merge two account numbers go to Accounts > Accounts List. Click on the account you want to keep. Click Combine Accounts. In the Secondary field enter the number you want to remove entries from and click Combine Accounts. You now have all entries from both accounts under only one.

When you upgrade your data file to a new version, some businesses forget to upgrade their forms. All you need to do is go to Start >(from the bottom of the windows screen) Programs Files > MYOB Accounting V10 (e.g.) > MYOB Tools >MYOB Accounting V15 Templates upgrade assistant. Follow the prompts to update from your last version forms folder to your current forms folder.

When you setup a new wages category in MYOB, decide whether it needs to have superannuation paid on the wage amount. If the answer is no you need to go to Payroll > Payroll Categories > Superannuation > SGC Superannuation(e.g.) > Exempt. Put a tick next to the new category you want to exclude from super and click OK. This is a common error made in MYOB and results in too much super accruing which leaves you out of pocket.