Cashbook. User Guide. User Guide

Transcription

1 Cashbook User Guide User Guide

2 MYOB New Zealand Ltd WEBSITE Copyright MYOB Technology Pty All rights reserved. Trademarks MYOB is a registered trademark and use of it is prohibited without prior consent. MYOB Accountants Office is a registered trademarks of MYOB Technology Pty. Microsoft, Windows and Microsoft Excel are either registered trademarks or trademarks of Microsoft Corporation in the United States and/or other countries. Other products mentioned may be trademarks or registered trademarks of their registered companies. The MYOB Cashbook User Guide was written in New Zealand and is intended for use with MYOB Cashbook. MYOB Cashbook

3 Your Software Licence Agreement Important read this carefully before use This is the software agreement. As you have purchased the Product, following notification of the Licence you are now legally bound by its conditions. HOWEVER if the Licence Agreement contains anything of which you were not aware prior to purchasing the Product or do not agree to be bound by, DO NOT INSTALL THE SOFTWARE but return the Product to the reseller in its entirety and a full refund of the purchase price will be made. By installing the software and keeping the Product you are confirming that you have purchased the Product subject to this Licence and are bound by its provisions. Scope of the Licence MYOB Technology Pty Ltd hereby grant to you, the original purchaser, a paid-up, personal, non-exclusive and non-transferable Licence to use the User Guide and the Program subject to the terms and conditions of this Agreement. Single Computer You may use the Program on only the number of computers covered in your specific Registration documentation, at a single physical location. You may transfer the Program from one such computer to another that you own or operate provided that you do not use or permit the usage of the Program on more than the specifically licenced number of computers or computer terminals at a time, nor permit the usage of the program on more than one network at any one time, nor permit the program to be used in respect of data files not created by you or another licensed user. In event of an upgrade or product exchange the licence hereby granted shall automatically transfer to the new version or product. All rights in respect of the original product shall lapse and no further use of same shall be permitted. Copies You may not copy or duplicate the Program, except as necessary solely for archival purposes, program error verification, or to replace defective storage media, provided you keep the original and the copies. You may not alter, decompile or disassemble the Program. You may not make copies of the User Guide. Transfers You may not sub-licence, lease, rent or lend the Program or the User Guide or otherwise transfer your rights under this Agreement. Subject to the prior written consent of the Publisher and the agreement of the transferee to be bound by the terms of this Agreement, you may transfer the Program (together with any back-up copies you have made) and the User Guide on a permanent basis. However, you may not retain any copies of either the User Guide or the software. Term The Licence granted in this Agreement is effective until terminated. You may terminate it at any time by destroying the Program and User Guide, together with all copies, or by returning them to the Publisher. If you fail to meet the ongoing obligations accepted by you at the time of Registration (if applicable) or if you fail to comply with any term or condition of this Agreement, this Licence will terminate and, upon any such termination, you agree to destroy the Program and User Guide, together with all copies, or to return them to the Publisher. Termination of this Licence shall be in addition to and not in lieu of any other remedies available to the Publisher. Protection and Security You agree to use your best endeavours and to take all reasonable steps to safeguard the Program to ensure that no unauthorised person has access to the Product and that there is no unauthorised copying or distribution of the Program or User Guide. Limited Warranty & Disclaimer User Guide

4 The Publisher warrants that the media on which the Program is recorded and the User Guide provided with it are free from defects in materials and workmanship under normal use for a period of 90 days from the date of your original purchase. Except for the limited warranty described above, the program is sold as is, and you are assuming the entire risk as to its quality and performance. It is your responsibility to verify the results obtained from the use of the program. If during the 90-day limited warranty period, you discover physical defects in the User Guide or in the media on which the Program was recorded, the Publisher will replace them at no charge to you, provided you return the item to be replaced with proof of purchase to the Publisher. THIS IS YOUR SOLE REMEDY. IN NO EVENT WILL THE PUBLISHER BE LIABLE FOR ANY PERSON FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR SIMILAR DAMAGES, EVEN IF THE PUBLISHER HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. Some jurisdictions do not allow the exclusion or limitation of implied warranties or of liability for incidental or consequential damages so the above limitations or exclusions may not apply to you. This warranty gives you specific legal rights and you may also have other rights that vary from state to state. In the event that any of the above limitations or exclusions are held to be unenforceable, the Publisher s total liability shall not exceed the amount of the Licence fee you paid. Entire Agreement This Licence constitutes the entire agreement between the Publisher and the Licensee and any prior representations, statement or undertaking how so ever made are expressly cancelled. No amendment or modification to this Licence shall be valid unless it shall be in writing and signed by an authorised representative of the Publisher. MYOB Cashbook

5 At a glance Chapter 1 Your first day Learn the basics of MYOB Cashbook using windows, icons, and fields, and setting up and working with your business s cashbook file Chapter 2 Maintenance: tuning the cashbook file Set up and maintain the chart of accounts, bank accounts, budgets, transaction description shortcuts, and auto codes for automatically allocating or splitting imported transactions Chapter 3 Processing: entering transactions Import bank transactions, manually enter transactions, reconcile bank statements, and view transactions by account code Chapter 4 Reporting: monitoring your business Generate reports to monitor your cash flow and bank reconciliations, create a transaction audit trail, prepare financial statements, or complete the GST Return Chapter 5 Send: exporting to your accountant Extract transactions from your cashbook file and send them on a disk or by to your accountant to process GST Returns, end-of-year adjustments, annual reports, and taxation returns Chapter 6 Other functions Set up or change your password and MYOB Cashbook preferences, and back up and restore your data Glossary Definitions of terms referred to in the text Index Quickly find procedures, concepts, and definitions, or look up the titles of reports and windows 5

6 G L A N C E 6 MYOB Cashbook

7 Contents Chapter 1 Your first day Overview of your first day Accessing functions Command centres Menus Hotkeys Types of fields in MYOB Cashbook MYOB Cashbook learning resources The MYOB Cashbook cashbook file Setting up your MYOB Cashbook cashbook file Starting MYOB Cashbook for the first time Experimenting with the sample company s data To explore the Clearwater cashbook file Preparing to create a new cashbook file Creating a cashbook file from your accountant s cashbook file To import from your accountant s cashbook file Modifying the chart of accounts Modifying bank accounts Modifying budgets Modifying descriptions Creating a cashbook file with a predefined file To load a predefined cashbook file Step 1 Start Step 2 Goods and Services Tax Step 3 Quantities Step 4 Data entry Step 5 System preferences Step 6 Finish Defining the chart of accounts and GST accounts

8 C O N T E N T S Step 1 Start Step 2 Bank accounts To add a bank account Step 3 Finish Modifying budgets Modifying descriptions Creating a cashbook file by building your own To build your own cashbook file Step 1 Start Step 2 Goods and Services Tax Step 3 Quantities Step 4 Data entry Step 5 System preferences Step 6 Finish Defining the chart of accounts and GST accounts Step 1 Start Step 2 Account structure To set up the recommended account-codes structure To customise the account-codes structure To define account codes by branch and division Step 3 GST accounts Step 4 Bank accounts To add a bank account Step 5 Finish Modifying budgets Modifying descriptions Creating a cashbook by copying an existing file To copy an existing cashbook file Step 1 Start Step 2 Goods and Services Tax Step 3 Quantities Step 4 Data entry Step 5 System preferences Step 6 Finish Defining the chart of accounts and GST accounts Step 1 Start Step 2 Account structure To set up the recommended account-codes structure To customise the account-codes structure To define account codes by branch and division Step 3 GST accounts Step 4 Bank accounts To add a bank account Step 5 Finish Modifying budgets Modifying description shortcuts Chapter 2 Maintenance: tuning the cashbook file Overview of maintenance To go to the Maintenance command centre MYOB Cashbook

9 C O N T E N T S Maintaining the chart of accounts To add a new account To edit an existing account To delete an existing account To print the chart of accounts To save the chart of accounts as a file Maintaining bank accounts To add a new bank account To edit an existing bank account To delete an existing bank account Maintaining budget figures To enter or edit monthly budget figures To enter or edit annual budget figures Maintaining description shortcuts To add a new description shortcut To edit an existing description shortcut To delete an existing description shortcut To print description shortcuts To save description shortcuts as a file Maintaining auto codes To add a new auto code while importing transactions To edit an existing auto code To delete an existing auto code Chapter 3 Processing: entering transactions Overview of processing To go to the Processing command centre Importing transactions To import a downloaded transaction file To edit imported transactions To import MYOB Payroll journals Entering transactions manually To enter a transaction manually To edit a manual transaction To delete a manual transaction Common transaction procedures To allocate split amounts to several accounts To post a transaction batch Reconciling bank statements To reconcile a bank statement To edit a posted transaction To delete a posted transaction To lock accounting periods Viewing transactions To view all transactions in an account Chapter 4 Reporting: monitoring your business User Guide 9

10 C O N T E N T S Overview of reporting To go to the Reporting command centre Running Bank Reconciliation reports To run a Bank Reconciliation Report Running the Cash Flow report To run a Cash Flow report Step 1 Start Step 2 Select Report Type Step 3 Select Bank Account(s) Step 4 Select Accounting Periods Step 5 Finish Print Report Running GST reports To run a GST report Running Trial Balance reports To run a Trial Balance report Step 1 Start Step 2 Select Accounting Periods Step 3 Report Column Options Step 4 Other Report Options Step 5 Finish Running Transaction Details Reports To run a Transaction Details Report Step 1 Start Step 2 Select Report Type Step 3 Select Account(s) Step 4 Select Accounting Periods Step 5 Select Batches Step 6 Other Report Options Step 7 Finish Running User-Defined Transactions reports To run a User-Defined Transaction report Step 1 Start Step 2 Select Accounts Step 3 Other Selection Criteria Step 4 Select Columns Step 5 Select Sorting and Grouping Options Step 6 Finish Exporting reports to PDF or Microsoft Word To export reports Chapter 5 Send: exporting to your accountant Overview of Send To go to the Send command centre Extracting and sending transactions To select a range of transactions to send To resend transaction data sent previously To the selected range of transactions To save the selected transactions to a floppy disk Chapter 6 Other functions MYOB Cashbook

11 C O N T E N T S Backing up and restoring your data To back up your cashbook file To restore a backup Repairing the cashbook file To rebuild the index To recalculate balances To rebuild the cashbook list Starting a new year To begin a new financial year Managing your password To create the password To change the password To delete the password Setting preferences To set your preferences Glossary Index User Guide 11

12 C O N T E N T S 12 MYOB Cashbook

13 Your first day 1 Learn the basics of MYOB Cashbook using windows, icons, and fields, and setting up and working with your business s cashbook file Overview of your first day 14 Accessing functions 15 Command centres 15 Menus 16 Hotkeys 16 Types of fields in MYOB Cashbook 16 MYOB Cashbook learning resources 18 The MYOB Cashbook cashbook file 19 Setting up your MYOB Cashbook cashbook file 20 Starting MYOB Cashbook for the first time 20 Experimenting with the sample company s data 21 To explore the Clearwater cashbook file 21 Preparing to create a new cashbook file 22 Creating a cashbook file from your accountant s cashbook file 23 To import from your accountant s cashbook file 23 Modifying the chart of accounts 24 Modifying bank accounts 25 Modifying budgets 26 Modifying descriptions 26 Creating a cashbook file with a predefined file 27 To load a predefined cashbook file 27 Defining the chart of accounts and GST accounts 30 To add a bank account 31 Modifying budgets 33 Modifying descriptions 34 Creating a cashbook file by building your own 35 To build your own cashbook file 35 Defining the chart of accounts and GST accounts 38 To set up the recommended accountcodes structure 39 To customise the account-codes structure 40 To define account codes by branch and division 40 To add a bank account 42 Modifying budgets 43 Modifying descriptions 44 Creating a cashbook by copying an existing file 45 To copy an existing cashbook file 45 Defining the chart of accounts and GST accounts 48 To set up the recommended accountcodes structure 49 To customise the account-codes structure 50 To define account codes by branch and division 50 To add a bank account 51 Modifying budgets 54 Modifying description shortcuts 55 13

14 C H A P T E R 1 Your first day Overview of your first day Overview of your first day Your first day with MYOB Cashbook will be spent learning about the program, installing it on your computer, and setting up your business details so you can start work entering transactions. In addition to this User Guide, you would also have received the Getting Started guide with your MYOB Cashbook software package. This should be your first point of reference when you install your software, as it contains the following essential information: How to register MYOB Cashbook. Recommended and minimum specifications for using MYOB Cashbook. How to install MYOB Cashbook on your computer. How to get Technical Support, and what the options are. Information about other MYOB resources that could make a difference in your business. After you have read Getting Started, you are ready to begin. YOUR FIRST DAY TOPICS Accessing functions, below The MYOB Cashbook cashbook file, page 19 Setting up your MYOB Cashbook cashbook file, page 20 Creating a cashbook file from your accountant s cashbook file, page 23 Creating a cashbook file with a predefined file, page 27 Creating a cashbook file by building your own, page 35 Creating a cashbook by copying an existing file, page MYOB Cashbook

15 Your first day Accessing functions 1 C H A P T E R Accessing functions You can access MYOB Cashbook functions with one of the different navigation methods described in this section. Command centres ACCESSING FUNCTIONS TOPICS Command centres, below Menus, page 16 Hotkeys, page 16 Types of fields in MYOB Cashbook, page 16 MYOB Cashbook learning resources, page 18 Command centres enable you to quickly and easily access the required functions of MYOB Cashbook using icons, similar to the way you may use toolbars in other Windows systems. There are four command centres, which are based on the four major functions that you will perform in MYOB Cashbook. They are: Maintenance command centre, used to record and edit account and budget information. Processing command centre, used to import, enter, and reconcile transactions. Reporting command centre, used to prepare your financial statements. Send command centre, used to send your transactions to your accountant to make the compilation of your financial statements easier for you. The command centres contain a row of icons in the top half of the window, which represent the four divisions of MYOB Cashbook. Each time you view the central location for all User Guide 15

16 C H A P T E R 1 Your first day Accessing functions command centres, one of the icons is highlighted, and a flowchart of tasks is displayed below the row of icons. The highlighted icon is the current command centre, and the flowchart displayed below the row of icons contains the major functions associated with that command centre. For example, when the Processing function is highlighted, functions such as Import Transactions and Enter Transactions typical tasks you d complete with processing are displayed in the flowchart. To display a command centre, click once on the icon of the command centre you want to see, or select a command centre name from the Command menu at the top of your computer screen. Tasks are accessed from command centres simply by clicking once on the function button. When you select a function, a window will appear where you can make the necessary entries to perform the function. Menus The menu structure in MYOB Cashbook enables you to access all functions available within the system, including those that are not available from the command centres, for example Preferences (Setup). The menus in MYOB Cashbook are designed in a hierarchical structure. Use the standard Windows method to access a function from a menu. The arrow next to a menu option indicates that there are additional sub-menus from which to choose. Hotkeys You are able to access some functions in MYOB Cashbook using hotkeys. These Hotkeys are listed below: Function key [F1] [F2] [F3] [F4] [F5] [F6] [F7] [F8] [F9] Action Online Help Display Transaction Options when entering data Create Split Transaction in Enter Transactions Add record Edit Split Transaction in Enter Transactions Insert current date Delete after cursor Delete Record Lookup Types of fields in MYOB Cashbook Various types of fields exist in MYOB Cashbook. This section summarises the fields you ll work with in MYOB Cashbook. 16 MYOB Cashbook

17 Your first day Accessing functions 1 C H A P T E R Data entry fields are the most common fields you ll work with in MYOB Cashbook. These fields allow you to enter information in your cashbook file. Buttons come in a few different styles in MYOB Cashbook. Generally, the purpose of buttons is to perform an action or step, such as opening a window. Radio buttons allow you to make a selection from a number of choices. Radio buttons are selected by clicking the circle next to the text that accompanies it. Checkboxes allow you to activate or deactivate a particular MYOB Cashbook function. Checkboxes are selected by clicking the square next to the text that accompanies it. Tabs allow you to switch between views in a window, such as Systems Preferences in the Preferences window. To select a new view, simply click the tab required. List dialogs let you enter data by clicking an item presented in a scrolling list. For example, whenever the cursor is in an Account column, you can press F9 to choose an account code, as shown in the following illustration. List dialogs differ, depending upon the window in which they appear. However, they all work the same in one aspect: if there are more items in the list than can be displayed at one time, you can use the scroll bar on the right side of the list to scroll through the items. User Guide 17

18 C H A P T E R 1 Your first day Accessing functions MYOB Cashbook learning resources MYOB are committed to making MYOB Cashbook a product that is easy to use. For that reason we have developed comprehensive learning tools that will teach you the fundamentals of MYOB Cashbook, support you as you set-up your company s records and back you up in your everyday work with the product. Using these tools, you should find the answers to all your routine questions about how to use MYOB Cashbook. If you have any questions, we recommend that you explore these tools before you call our Technical Support department. The MYOB Cashbook User Guide contains detailed information on how to prepare to use MYOB CashbookMYOB Cashbook, and setup instructions to get you up and running with MYOB Cashbook as quickly as possible. Illustrations of the MYOB Cashbook windows, and full procedures for all the tasks you can perform using MYOB Cashbook are also included in this manual. We suggest you read it before you begin using MYOB Cashbook in your business. Online Help describes MYOB Cashbook windows, menus and functions in detail. You can go to Online Help by selecting Contents from the Help menu or by pressing the F1 key. 18 MYOB Cashbook

19 Your first day The MYOB Cashbook cashbook file 1 C H A P T E R The MYOB Cashbook cashbook file When you make entries in MYOB Cashbook, that information is stored within one physical file in your computer called a cashbook file. This single file allows you to work with your company s financial information without spending a lot of time and effort with your computer s file storage system. You can use MYOB Cashbook to keep accounting records for more than one company. If you do so, one cashbook file will exist for each company. A cashbook file is created immediately when you create a new file; if you ve already begun using MYOB Cashbook, you might remember that you created a cashbook file for your company using the MYOB Cashbook Easy Setup Assistant. You can also create a new cashbook file by selecting New from the File menu. User Guide 19

20 C H A P T E R 1 Your first day Setting up your MYOB Cashbook cashbook file Setting up your MYOB Cashbook cashbook file You can experiment with MYOB Cashbook to learn about its capabilities before starting to set up your business s details and entering transactions. SETTING UP TOPICS Starting MYOB Cashbook for the first time, below Experimenting with the sample company s data, page 21 Starting MYOB Cashbook for the first time You can launch MYOB Cashbook either from the Windows desktop or from the Start menu. 1 Click the MYOB Cashbook icon on the Windows desktop. or Click the Start button on the toolbar, choose Programs, and double-click the MYOB Cashbook icon in the folder that was created when you installed MYOB Cashbook. If you chose all the default options during the installation process, the MYOB Cashbook program was installed in the MYOB Cashbook program group. After a few moments, MYOB Cashbook starts and displays the Welcome to MYOB Cashbook window. 2 Continue with one of these topics: Experimenting with the sample company s data on page 21 to become familiar with MYOB Cashbook before setting up your own business s details and entering data or Preparing to create a new cashbook file on page 22 if you want to get started right away. 20 MYOB Cashbook

21 Your first day Setting up your MYOB Cashbook cashbook file 1 C H A P T E R Experimenting with the sample company s data An excellent way to learn how to use MYOB Cashbook is to see actual accounting data that has already been entered into the MYOB Cashbook system. By doing so, you can learn how your own company s accounting data should be entered. We have created a sample company, Clearwater Ltd, for this specific purpose. Using Clearwater s cashbook file, you can experiment freely with MYOB Cashbook features without damaging any of your own company s financial information. We recommend you spend some time with Clearwater s data to familiarise yourself with the way that MYOB Cashbook works. To explore the Clearwater cashbook file 1 Click the Explore the sample company button in the Welcome to MYOB Cashbook window. The MYOB Cashbook command centre window is displayed. This window is always displayed on your computer screen when MYOB Cashbook is running. Notice that the name of the sample company, Clearwater Ltd, appears in the top left corner of the window. NOTE The Clearwater Ltd cashbook file is only for learning purposes company s financial information into the Clearwater cashbook file. Do not enter your own 2 Now that Clearwater Ltd s cashbook file is open, feel free to browse around the MYOB Cashbook system and explore the accounting entries that have already been made for the sample company. User Guide 21

22 C H A P T E R 1 Your first day Setting up your MYOB Cashbook cashbook file Preparing to create a new cashbook file If you want to start setting up your own company s financial information, MYOB Cashbook will lead you through the Easy Setup Assistant to simplify the setup process. This is where you begin setting up all aspects of your business s cashbook file: account code structures, chart of accounts, bank accounts, budget initial figures, method of data entry, descriptions shortcuts, GST recording, GST control accounts, system preferences, and quantities recording. 1 Start the Easy Setup Assistant. If you are in the Welcome to MYOB Cashbook window, click the Create a New Cashbook button. If you are already exploring the Clearwater s cashbook file, go to the File menu and choose New. 2 Continue with the appropriate topic. Creating a cashbook file from your accountant s cashbook file, next Creating a cashbook file with a predefined file, page 27 Creating a cashbook file by building your own, page 35 Creating a cashbook by copying an existing file, page MYOB Cashbook

23 Your first day Creating a cashbook file from your accountant s cashbook file 1 C H A P T E R Creating a cashbook file from your accountant s cashbook file Your accountant can supply you with a predefined chart of accounts to get you up and running straight away. That way, all of your accounts (expense, liability, GST, etc.) have already been created for you, ensuring that you are getting off to the right start. To import from your accountant s cashbook file 1 Click the Create a new cashbook file button in the Welcome to MYOB Cashbook window. 2 Click the From Accountants disk radio button and locate your source file (eg A:\ for floppy disk) or click the ellipsis button (...) to browse for an alternative location. 3 Click OK. The cashbook file is displayed. Your accountant has already set-up your cashbook file s settings and preferences. However, you need to ensure that your chart of accounts, bank accounts, budgets and chart of account descriptions have also been included. Continue with Maintaining Chart of Accounts. User Guide 23

24 C H A P T E R 1 Your first day Creating a cashbook file from your accountant s cashbook file Modifying the chart of accounts 1 Go to the Maintenance command centre and click the Maintain Chart of Accounts button. The Maintain Chart of Accounts window is displayed. The Maintain Chart of Accounts window lists all your asset, liability, revenue, expense and capital accounts. You may need to add some new accounts. Assign specific accounts to relevant account types. For example, set sales accounts to revenue, any outstanding bank loans to liability, vehicle costs to expenses. 2 Check that all your accounts appear in the Chart of Accounts window. If you are missing some accounts you will need to add them continue with Maintaining the chart of accounts on page MYOB Cashbook

25 Your first day Creating a cashbook file from your accountant s cashbook file 1 C H A P T E R Modifying bank accounts 1 Go to the Maintenance command centre and click on the Maintain Bank Accounts button. The Maintain Bank Accounts window is displayed. 2 Check whether all of your bank accounts are listed in this window. If all of your bank accounts have been set-up, you can skip this step and go straight to Modifying budgets, page 26. If all of your bank accounts have not been set-upset-up, you will need to do so now. Continue with Maintaining bank accounts on page When all your bank accounts have been added, you may need to set-up your budgets. Continue with Modifying budgets on page 26. User Guide 25

26 C H A P T E R 1 Your first day Creating a cashbook file from your accountant s cashbook file Modifying budgets 1 Go to the Maintenance command centre and click the Maintain Budgets button. The Maintain Budgets window is displayed. 2 Check whether your budget has been set-up. If your budget has been set-up, you can skip this step and go straight to Modifying descriptions on page 26. If your budget has not been set-up, you will need to do so now. Continue with Maintaining budget figures on page When you have completed entering your budget figures, you may need to set-up your transaction descriptions. Continue with Modifying descriptions on page 26. Modifying descriptions 1 Go to the Maintenance command centre and click the Maintain Descriptions button. The Maintain Descriptions window is displayed. Maintain Descriptions speeds up your transaction entry by creating short cuts for regular transaction descriptions. 2 Add, edit or delete descriptions as required. If your descriptions have been set-up, you can start processing your transactions straight away Chapter 3, Processing: entering transactions, on page 91. If your descriptions have not been set-up, you will need to do so now. Continue with Maintaining description shortcuts on page 80. When you have finished adding new descriptions, you can start to process your transactions. See Chapter 3, Processing: entering transactions, on page MYOB Cashbook

27 Your first day Creating a cashbook file with a predefined file 1 C H A P T E R Creating a cashbook file with a predefined file MYOB Cashbook includes a number of starter chart of accounts to assist you in setting up your business. Selecting the chart of accounts that most closely matches your business will save you time. You also have the flexibility to customise the chart of accounts by adding, changing or removing accounts you don t need. As you have chosen a predefined chart, we recommend that you accept the options selected in the Setup Assistant and work through the setup phase with your accountant. To load a predefined cashbook file 1 Click the Create a new cashbook file button in the Welcome to MYOB Cashbook window. 2 Click the From a default chart radio button and select the predefined chart of accounts that most closely matches your business. 3 Complete the remainder of the New Cashbook window. Field Cashbook Name Year End Date Folder Description Enter the file name, using your company name, if you like. Enter the end date for the current financial year. Your file will be saved to the following folder. We advise you to select the default folder. Alternatively, you can enter your own. User Guide 27

28 C H A P T E R 1 Your first day Creating a cashbook file with a predefined file 4 Click OK. The Easy Setup Assistant window is displayed. Step 1 Start 1 Click the Customise button in the Easy Setup Assistant window. 2 Read the information contained in the window and click Next to continue. Step 2 Goods and Services Tax You should continue through all steps of the Easy Setup Assistant before clicking the Finish button. Otherwise your setup may be incomplete. 1 Ensure the Use Goods and Services Tax? checkbox is marked 2 Ensure the GST Rate 1 is set to12.5 (percent). MYOB Cashbook allows you to define further GST rates if required. You can select the appropriate GST rate when you are entering your transactions. If you do not define the GST rates correctly, your GST reports will be adversely Affected. 3 Click Next to continue. 28 MYOB Cashbook

29 Your first day Creating a cashbook file with a predefined file 1 C H A P T E R Step 3 Quantities Step 4 Data entry 1 Mark the Record Quantities and Record Budget Quantities checkboxes as appropriate. Marking the Record Quantities checkbox allows you to record the actual quantities for non-monetary values, such as livestock. Marking the Record Budget Quantities checkbox allows you to record the expected quantities for non-monetary values, such as, livestock. 1 Choose the type of data entry from the Type of Data Entry drop-down list.. Type of Data Entry All Types Individual Transactions Bank Statements Description Choose this option if you intend to enter transactions from both your cheque stubs and deposit slips, and your bank statements. You can select from deposits, cheques, debits, credits, bank statements, and journals. Choose this option if you intend to enter your transactions from your deposit slips and cheque stubs. Then select the appropriate transaction type, cheques, deposits, debits, credits and journals. Choose this option if you intend to enter transactions from your bank statements, that is, not from your cheque stubs or deposit slips. That way you don t have to worry about Bank Reconciliation, as all transactions are automatically reconciled when the batch is posted. User Guide 29

30 C H A P T E R 1 Your first day Creating a cashbook file with a predefined file 2 Complete the remaining fields as appropriate. Field Length of Transaction Description Confirm Data Entry Skip to next field after <F7> Description Use up to 75 characters to describe a line item in the Description field. Skips to next field only after you press the enter key. Skips to next field and delete after cursor. Step 5 System preferences Step 6 Finish Mark the checkboxes as appropriate and click Next to continue. 1 Click Finish. The Easy Setup Assistant window is displayed. See the following section to setup your accounts. Defining the chart of accounts and GST accounts Step 1 Start Step 2 Bank accounts 1 Click the Accounts button in the Easy Setup Assistant window. 2 Read the information contained in the window. Click Next to continue. We advise you to continue through all steps of the Easy Setup Assistant before clicking the Finish button. Otherwise your setup may be incomplete. This window refers to both bank accounts and credit cards. You will need to add all your bank accounts now. Make sure you include all bank accounts that you use in your business as they will be included in your GST reports. If you want to track your personal 30 MYOB Cashbook

31 Your first day Creating a cashbook file with a predefined file 1 C H A P T E R bank accounts, you should create a separate cashbook file. They should not be included here. To add a bank account CAUTION Cancelling does not delete Cancelling does not delete new account. If you add a new account and then change your mind, you cannot remove the accounts by pressing the Cancel button. You must delete the new account see To delete an existing bank account on page Enter a new account code and the details of the financial institution where your account is held. We recommend you use an account code between 680 and 689. You can review all your bank accounts with these scroll buttons. Scroll button Description Go to the first bank account. Go to the previous bank account. Go to the next bank account. Go to the last bank account. 2 Click the New Bank Account button. 3 Complete the remaining details as appropriate. Continue with Maintaining bank accounts on page 70. User Guide 31

32 C H A P T E R 1 Your first day Creating a cashbook file with a predefined file Step 3 Finish 1 Click Finish. The Maintain Chart of Accounts window is displayed. The Maintain Chart of Accounts window lists all your asset, liability, revenue, expense and capital accounts. You will need add new accounts now, as well as edit or delete those accounts listed that are not relevant to you. Assign specific accounts to relevant account types. For example, set sales accounts to revenue, any outstanding bank loans to liability, vehicle costs to expenses. 2 Add, edit, or delete accounts as required. See Maintaining the chart of accounts on page Click Close. The Easy Setup Assistant window is displayed. See the following section to setup your budget. 32 MYOB Cashbook

33 Your first day Creating a cashbook file with a predefined file 1 C H A P T E R Modifying budgets 1 Click the Budgets button in the Easy Setup Assistant window. 2 Read the information in the window and click Next. The Maintain Budgets window is displayed. You can enter expected monthly financial activity for an account. Budgets are useful for planning for the future and analysing actual performance against projected performance. You will need to set-up your budget now. 3 Add, edit, or delete budget figures. See Maintaining budget figures on page 76. When you have entered your budget continue with step 4. 4 Click Close. The Easy Setup Assistant window is displayed. See the following section to set-up your descriptions. User Guide 33

34 C H A P T E R 1 Your first day Creating a cashbook file with a predefined file Modifying descriptions 1 Click the Descriptions button in the Easy Setup Assistant. 2 Read the information in this window and click Next. The Maintain Descriptions window is displayed. Maintain Descriptions speeds up your transaction entry by creating short cuts for regular transaction descriptions. You will need to add new descriptions now. 3 Add, edit, or delete description shortcuts. See Maintaining description shortcuts on page Click Close. The Easy Setup Assistant window is displayed. 5 Click Close. Your setup is complete and you are now ready to start processing transactions Chapter 3, Processing: entering transactions, on page MYOB Cashbook

35 Your first day Creating a cashbook file by building your own 1 C H A P T E R Creating a cashbook file by building your own Create a chart of accounts specific to your needs. The Easy Setup Assistant guides you through the setup process to build your chart of accounts, code your GST and bank accounts and establish your own budgets profile. To build your own cashbook file 1 Click the Create a new cashbook button in the Welcome to MYOB Cashbook window. The New Cashbook window is displayed. 2 Click the Build your own radio button. 3 Complete the remainder of the New Cashbook window. Field Cashbook Name Year End Date Folder Description Enter the file name, using your company name, if you like. Enter the end date for the current financial year. Your file will be saved to the following folder. We advise you to select the default folder. Alternatively, you can choose your own. User Guide 35

36 C H A P T E R 1 Your first day Creating a cashbook file by building your own 4 Click OK. The Easy Setup Assistant window is displayed.. Step 1 Start 1 Click the Customise button in the Easy Setup Assistant window. 2 Read the information contained in the window and click Next to continue. Step 2 Goods and Services Tax You should continue through all of the steps of the Easy Setup Assistant before clicking the Finish button. Otherwise your setup may be incomplete. 1 Ensure the Use Goods and Services Tax? checkbox is marked 2 Ensure the GST Rate 1 is set to12.5 (percent). MYOB Cashbook allows you to define further GST rates if required. You can select the appropriate GST rate when you are entering your transactions. If you do not define the GST rates correctly, your GST reports will be adversely affected. 3 Click Next to continue. 36 MYOB Cashbook

37 Your first day Creating a cashbook file by building your own 1 C H A P T E R Step 3 Quantities Mark the Record Quantities and Record Budget Quantities checkboxes as appropriate. Step 4 Data entry Marking the Record Quantities checkbox allows you to record the actual quantities for non-monetary values, such as, livestock. Marking the Record Budget Quantities checkbox allows you to record the expected quantities for non-monetary values, such as, livestock. 1 Select the required type of data entry from the drop-down list.. Type of Data Entry All Types Individual Transactions Bank Statements Description Choose this option if you intend to enter transactions from both your cheque stubs and deposit slips, and your bank statements. You can select from deposits, cheques, debits, credits, bank statements, and journals. Choose this option if you intend to enter your transactions from your deposit slips and cheque stubs. Then select the appropriate transaction type, cheques, deposits, debits, credits and journals. Choose this option if you intend to enter transactions from your bank statements, that is, not from your cheque stubs or deposit slips. That way you don t have to worry about Bank Reconciliation, as all transactions are automatically reconciled when the batch is posted. User Guide 37

38 C H A P T E R 1 Your first day Creating a cashbook file by building your own 2 Complete the remaining fields as appropriate. Field Length of Transaction Description Confirm Data Entry Skip to next field after <F7> Description Use up to 75 characters to describe a line item in the Description field. Skip to next field only after your press the enter key. Skip to next field and delete after cursor. Step 5 System preferences Step 6 Finish Mark the checkboxes as appropriate and click Next to continue. 1 Click Finish. The Easy Setup Assistant window is displayed. See the following section to set-up your accounts. Defining the chart of accounts and GST accounts Step 1 Start 1 Click the Accounts button in the Easy Setup Assistant window. 2 Read the information contained in the window. Click Next to continue. We advise you to continue through all steps of the Easy Setup Assistant before clicking the Finish button. Otherwise your setup may be incomplete. 38 MYOB Cashbook

39 Your first day Creating a cashbook file by building your own 1 C H A P T E R Step 2 Account structure There are three ways you can structure your accounts, depending on the combination of account codes and sub-codes used. The three ways are: Recommended accounting standards Customise your own Define by department and division It is very important that you choose carefully as all your transactions will be recorded in your chart of accounts according to your selection here. To set up the recommended account-codes structure The following is the most commonly used accounts structure, where three account codes (master account) and two sub-codes are employed. For example, you may have a motor vehicle expense account. 400 Motor Vehicle Expenses 400/01 Petrol & Oil 400/02 Registration & Insurance 400/03 Repairs & Maintenance The first three codes refer to the master account. In the above example, it is 400. The last two digits refer to the sub-codes, as 01 for petrol and oil. This is particularly useful for your reporting. You can generate reports featuring a list of all transactions you want in specific accounts or your accounts. Using the above example you could create a report of your petrol and oil accounts and exclude all other accounts. Complete the Account Structure window as follows: 1 Ensure the Maximum length of Account code is set to 3. 2 Mark the Provide support for an additional Sub-Code checkbox 3 Set the Number of digits for Sub-code to 2. 4 Ensure the Length of Account Descriptions is at least 30. User Guide 39

40 C H A P T E R 1 Your first day Creating a cashbook file by building your own To customise the account-codes structure You can customise the account structure to suit your specific requirements by omitting all sub-codes. That way you can use four digit account codes (accounts) and view all your transactions codes together in a non-hierarchical manner. For example, if you have set your account structure to four digit account codes, your motor vehicle expense code would appear as follows: 4000 Motor Vehicle Expenses 4001 Petrol & Oil 4002 Registration & Insurance 4003 Repairs & Maintenance 6801 National bank account Complete the Account Structure window as follows: 1 Ensure the Maximum length of Account code is set to 4. 2 Deselect the Provide support for an additional Sub-Code checkbox if it is marked 3 Ensure the Length of Account Descriptions is at least 30. To define account codes by branch and division You can establish the account code structure to reflect the composition of your business. If you have more than one office, or if your business operates along branch or departmental lines (eg office location, sales, marketing), you can set your account code structure to match accordingly. This way you can view all of your transactions along branch or divisional lines. For example, if you have set your account structure to six account codes, your motor vehicle expense account would appear as follows: Wellington Motor Vehicle Expenses Wellington Petrol & Oil Wellington Registration & Insurance Wellington Repairs & Maintenance Dunedin Motor Vehicle Expenses Dunedin Petrol & Oil Dunedin Registration & Insurance Dunedin Repairs & Maintenance The first two figures refer to the branch or division. For example, So 10 refers to Wellington and 20 to Dunedin. The four figures that follow relate to the actual account description or type. Enter the Account Structure window as follows: 1 Ensure the Maximum length of Account code is set to 6. 2 Deselect the Provide support for an additional Sub-Code checkbox if it is marked 3 Ensure the Length of Account Descriptions is at least MYOB Cashbook

41 Your first day Creating a cashbook file by building your own 1 C H A P T E R Step 3 GST accounts If you choose to use the recommended accounting standards, we encourage you to assign the following GST codes to your GST accounts. However, you can use any codes that suit you best. GST Type GST Code GST Payable 908/01 Input Tax 908/02 GST Payable Adj 908/03 Input Tax Adj 908/04 Fringe Benefit Tax 908/05 1 Complete the Standard GST Accounts and GST Adjustments sections. 2 Click Next. Step 4 Bank accounts This window refers to both bank accounts and credit cards. You will need to add all your bank accounts now. Make sure you include all of the bank accounts that you use in your business as they will be included in your GST reports. If you want to track your personal bank accounts, you should create a separate cashbook file. They should not be included here. User Guide 41

42 C H A P T E R 1 Your first day Creating a cashbook file by building your own To add a bank account CAUTION Cancelling does not delete Cancelling does not delete new account. If you add a new account and then change your mind, you cannot remove the accounts by pressing the Cancel button. You must delete the new account see To delete an existing bank account on page Enter a new account code and the details of the financial institution where your account is held. We recommend you use an account code between 680 and 689. You can review all your bank accounts with these scroll buttons. Scroll button Description Go to the first bank account. Go to the previous bank account. Go to the next bank account. Go to the last bank account. 2 Click the New Bank Account button. 3 Complete the remaining details as appropriate. Continue with Maintaining bank accounts on page 70. Step 5 Finish 1 Click Finish. The Maintain Chart of Accounts window is displayed. 42 MYOB Cashbook

43 Your first day Creating a cashbook file by building your own 1 C H A P T E R 2 Add, edit, or delete accounts. The Maintain Chart of Accounts window lists all your asset, liability, revenue, expense and capital accounts. You will need to add your new accounts now. Assign specific accounts to relevant Account types. For example, set sales accounts to revenue, any outstanding bank loans to liability, vehicle costs to expenses. See Maintaining the chart of accounts on page Click Close. The Easy Setup Assistant window is displayed. See the following section to setup your budget. Modifying budgets 1 Click the Budgets button in the Easy Setup Assistant window. 2 Read the information in the window and click Next. The Maintain Budgets window is displayed. You can enter expected monthly financial activity for an account. Budgets are useful for planning for the future and analysing actual performance against projected performance. You will need to set-up your budget now. You will need to add new accounts now, as well as edit and delete those accounts in the list that are not relevant to you. 3 To set up see Maintaining budget figures on page 76. Click Close. The Easy Setup Assistant window is displayed. See the following section to set-up your descriptions. User Guide 43

44 C H A P T E R 1 Your first day Creating a cashbook file by building your own Modifying descriptions 1 Click he Descriptions button in the Easy Setup Assistant. 2 Read the information in this window and click Next. The Maintain Descriptions window is displayed. Maintain Descriptions speeds up your transaction entry by creating short cuts for regular transaction descriptions. You will need to add new descriptions now. 3 To set-up see Maintaining description shortcuts on page 80. When you have entered your descriptions continue below. 4 Click Close. The Easy Setup Assistant window is displayed. 5 Click Close. Your setup is complete and you are now ready to start processing transactions Chapter 3, Processing: entering transactions, on page MYOB Cashbook

45 Your first day Creating a cashbook by copying an existing file 1 C H A P T E R Creating a cashbook by copying an existing file You can copy existing cashbook files when you create a new cashbook file in MYOB Cashbook. This will save you the time and hassle of having to set-up your new. Choosing this option automatically saves the preferences and setup selections from the copied cashbook file into your new one. You can even copy all transactions and balances from your old cashbook file into your new cashbook file if you choose to make a copy of your transactions. You can then make changes to your cashbook file as appropriate to your needs, by adding, deleting or editing accounts you don t need. To copy an existing cashbook file 1 Click the Create a new cashbook file button in the Welcome to MYOB Cashbook window. The New Cashbook window is displayed. 2 Click the Copy an Existing Cashbook radio button. 3 Complete the remainder of the New Cashbook window. Field Cashbook Name Folder Select Cashbook Description Enter the file name, using your company name, if you like. Your file will be saved to the following folder. We advise you to select the default folder. Alternatively, you can choose your own. Select the source file that you want to copy from the drop-down list. 4 Click the Copy all transactions and balances radio button to copy all of the setup preferences and transaction data and account balances into the new cashbook. or Click the Do NOT copy transactions radio button to only copy the setup preferences. User Guide 45

46 C H A P T E R 1 Your first day Creating a cashbook by copying an existing file The Easy Setup Assistant window is displayed. 5 Click OK and continue with Step 1 Start next Step 1 Start 1 Click the Customise button in the Easy Setup Assistant window. 2 Read the information contained in the window and click Next to continue. Step 2 Goods and Services Tax You should continue through all of the steps of the Easy Setup Assistant before clicking the Finish button, otherwise your setup may be incomplete. 1 Ensure the Use Goods and Services Tax? checkbox is marked 2 Ensure the GST Rate 1 is set to12.5 (percent). MYOB Cashbook allows you to define further GST rates if required. You can select the appropriate GST rate when you are entering your transactions. If you do not define the GST rates correctly, your GST reports will be adversely affected. 3 Click Next to continue 46 MYOB Cashbook

47 Your first day Creating a cashbook by copying an existing file 1 C H A P T E R Step 3 Quantities Step 4 Data entry Mark the Record Quantities and Record Budget Quantities checkboxes as appropriate. Marking the Record Quantities checkbox allows you to record the actual Quantities for non-monetary values, such as, livestock. Marking the Record Budget Quantities checkbox allows you to record the expected Quantities for non-monetary values, such as, livestock. 1 Select the required type of data entry from the drop-down list. Type of Data Entry All Types Individual Transactions Bank Statements Description Choose this option if you intend to enter transactions from both your cheque stubs and deposit slips, and your bank statements. You can select from deposits, cheques, debits, credits, bank statements, and journals. Choose this option if you intend to enter your transactions from your deposit slips and cheque stubs. Then select the appropriate transaction type, cheques, deposits, debits, credits and journals. Choose this option if you intend to enter transactions from your bank statements, that is, not from your cheque stubs or deposit slips. That way you don t have to worry about Bank Reconciliation, as all transactions are automatically reconciled when the batch is posted. User Guide 47

48 C H A P T E R 1 Your first day Creating a cashbook by copying an existing file 2 Complete the remaining fields as appropriate. Field Length of Transaction Description Confirm Data Entry Skip to next field after <F7> Description Use up to 75 characters to describe a line item in the Description field. Skip to next field only after your press the enter key. Skip to next field and delete after cursor. Step 5 System preferences Step 6 Finish Mark the checkboxes as appropriate and click Next to continue. Click Finish. The Easy Setup Assistant window is displayed. See the following section to set up your accounts. Defining the chart of accounts and GST accounts Step 1 Start 1 Click the Accounts button in the Easy Setup Assistant window. 2 Read the information contained in the window. Click Next to continue. We advise you to continue through all steps of the Easy Setup Assistant before clicking the Finish button. Otherwise your setup may be incomplete. 48 MYOB Cashbook

49 Your first day Creating a cashbook by copying an existing file 1 C H A P T E R Step 2 Account structure There are three ways you can structure your accounts, depending on the combination of account codes and sub-codes used. The three ways are: Recommended accounting standards Customise your own Define by department and division It is very important that you choose carefully as all your transactions will be recorded in your chart of accounts according to your selection here. To set up the recommended account-codes structure The following is the most commonly used accounts structure, where three account codes (master account) and two sub-codes are employed. For example, you may have a motor vehicle expense account. 400 Motor Vehicle Expenses 400/01 Petrol & Oil 400/02 Registration & Insurance 400/03 Repairs & Maintenance The first three codes refer to the master account. In the above example, it is 400. The last two digits refer to the sub-codes, as 01 for petrol and oil. This is particularly useful for your reporting. You can generate reports featuring a list of all transactions you want in specific accounts or all of your accounts. Using the above example you could create a report of only your petrol and oil accounts and exclude all accounts. Complete the Step 2 Account structure window as follows: 1 Ensure the Maximum length of Account code is set to 3. 2 Mark the Provide support for an additional Sub-Code checkbox 3 Set the Number of digits for Sub-code to 2. 4 Ensure the Length of Account Descriptions is at least 30. User Guide 49

50 C H A P T E R 1 Your first day Creating a cashbook by copying an existing file To customise the account-codes structure You can customise the account structure to suit your specific requirements by omitting all sub-codes. That way you can use four digit account codes (accounts), and view all your transactions codes together in a non-hierarchical manner. For example, if you have set your account structure to four digit account codes, your motor vehicle expense code would appear as follows: 4000 Motor Vehicle Expenses 4001 Petrol & Oil 4002 Registration & Insurance 4003 Repairs & Maintenance 6801 National bank account Complete the Step 2 Account structure window as follows: 1 Ensure the Maximum length of Account code is set to 3. 2 Deselect the Provide support for an additional Sub-Code checkbox if it is marked 3 Ensure the Length of Account Descriptions is at least 30. To define account codes by branch and division You can establish the account code structure to reflect the composition of your business. If you have more than one office, or if your business operates along branch or departmental lines (e.g. office location, sales, marketing), you can set your account code structure to match accordingly. This way you can view all your transactions along branch or divisional lines. For example, if you have set your account structure to six account codes, your motor vehicle expense account would appear as follows: Wellington Motor Vehicle Expenses Wellington Petrol & Oil Wellington Registration & Insurance Wellington Repairs & Maintenance Dunedin Motor Vehicle Expenses Dunedin Petrol & Oil Dunedin Registration & Insurance Dunedin Repairs & Maintenance The first two figures refer to the branch or division. For example, 10 refers to Wellington and 20 to Dunedin. The four figures that follow relate to the actual account description or type. Complete the Step 2 Account structure window as follows: 1 Ensure the Maximum length of Account code is set to 6. 2 Deselect the Provide support for an additional Sub-Code checkbox if it is marked. 3 Ensure the Length of Account Descriptions is at least MYOB Cashbook

51 Your first day Creating a cashbook by copying an existing file 1 C H A P T E R Step 3 GST accounts If you choose to use the recommended accounting standards, we encourage you to assign the following GST codes to your GST accounts. However, you can use any codes that suit you best. GST Type GST Code GST Payable 908/01 Input Tax 908/02 GST Payable Adj 908/03 Input Tax Adj 908/04 Fringe Benefit Tax 908/05 1 Complete the Standard GST Accounts and GST Adjustments sections. 2 Click Next. Step 4 Bank accounts This window refers to both bank accounts and credit cards. You will need to add all your bank accounts now. Make sure you include all the bank accounts you use in your business as they will be included in your GST reports. If you want to track your personal bank accounts, you should create a separate cashbook file. They should not be included here. To add a bank account CAUTION Cancelling does not delete Cancelling does not delete new account. If you add a new account and then change your mind, you cannot remove the accounts by pressing the Cancel button. You must delete the new account see To delete an existing bank account on page 75. User Guide 51

52 C H A P T E R 1 Your first day Creating a cashbook by copying an existing file 1 Enter a new account code and the details of the financial institution where your account is held. We recommend you use an account code between 680 and 689. You can review all your bank accounts with these scroll buttons. Scroll button Description Go to the first bank account. Go to the previous bank account. Go to the next bank account. Go to the last bank account. 2 Click the New Bank Account button. 3 Complete the remaining details as appropriate. Continue with Maintaining bank accounts on page 70. Step 5 Finish 1 Click Finish. The Maintain Chart of Accounts window is displayed. The Maintain Chart of Accounts window lists all your asset, liability, revenue, expense and capital accounts. You will need to add new accounts now, as well as edit and delete those accounts in the list that are not relevant to you. Assign specific accounts to relevant Account types. For example, set sales accounts to revenue, any outstanding bank loans to liability, vehicle costs to expenses. 2 Add, edit, or delete accounts see Maintaining the chart of accounts on page MYOB Cashbook

53 Your first day Creating a cashbook by copying an existing file 1 C H A P T E R 3 Click Close. The Easy Setup Assistant window is displayed. See the following section to setup your budget. User Guide 53

54 C H A P T E R 1 Your first day Creating a cashbook by copying an existing file Modifying budgets 1 Click the Budgets button in the Easy Setup Assistant window. 2 Read the information in the window and click Next. The Maintain Budgets window is displayed. You can enter expected monthly financial activity for an account. Budgets are useful for planning for the future for analysing actual performance against projected performance. 3 Check whether your budget has been set-up. If your budget has been set-up, go to Step 4. If your budgets has not been set-up, you will need to do so now. Continue with Step 4. 4 To enter your budget see Maintaining budget figures on page 76. When you have entered your budget continue with Maintaining Descriptions. Click Close. The Easy Setup Assistant window is displayed. See the following section to setup your descriptions. 54 MYOB Cashbook

55 Your first day Creating a cashbook by copying an existing file 1 C H A P T E R Modifying description shortcuts 1 Click on the Descriptions button in the Easy Setup Assistant. 2 Read the information in this window and click Next. The Maintain Descriptions window is displayed. Maintain Descriptions speeds up your transaction entry by creating short cuts for regular transaction descriptions. 3 Add, edit or delete descriptions as appropriate Maintaining description shortcuts on page Click Close. The Easy Setup Assistant window is displayed. 5 Click Close. Your setup is complete and you are now ready to start processing transactions Chapter 3, Processing: entering transactions, on page 91. User Guide 55

56 C H A P T E R 1 Your first day Creating a cashbook by copying an existing file 56 MYOB Cashbook

57 2 Maintenance: tuning the cashbook file Set up and maintain the chart of accounts, bank accounts, budgets, transaction description shortcuts, and auto codes for automatically allocating or splitting imported transactions Overview of maintenance 58 To go to the Maintenance command centre 58 Maintaining the chart of accounts 60 To add a new account 62 To edit an existing account 67 To delete an existing account 68 To print the chart of accounts 69 To save the chart of accounts as a file 69 Maintaining bank accounts 70 To add a new bank account 71 To edit an existing bank account 74 To delete an existing bank account 75 Maintaining budget figures 76 To enter or edit monthly budget figures 76 To enter or edit annual budget figures 78 Maintaining description shortcuts 80 To add a new description shortcut 80 To edit an existing description shortcut 81 To delete an existing description shortcut 81 To print description shortcuts 82 To save description shortcuts as a file 82 Maintaining auto codes 83 To add a new auto code while importing transactions 83 To edit an existing auto code 87 To delete an existing auto code 89 57

58 C H A P T E R 2 Maintenance: tuning the cashbook file Overview of maintenance Overview of maintenance When you first purchased MYOB Cashbook, you and your accountant would have set up your cashbook file. As the nature of your business changes, you may need to add new items or change existing items, for example, add a new bank or credit-card account, rename an expense account, update budget figures, add auto codes, and revise transaction descriptions. In MYOB Cashbook, tuning you cashbook file is called maintenance. You do most maintenance tasks in the Maintenance command centre. To go to the Maintenance command centre 1 In any MYOB Cashbook command centre, click the Maintenance icon. The Maintenance command centre is displayed. 2 Now do the appropriate procedure. 58 MYOB Cashbook

59 Maintenance: tuning the cashbook file Overview of maintenance 2 C H A P T E R To do these procedures Add, edit, or delete accounts in the chart of accounts, or print or save the chart of accounts Add, edit, or delete bank accounts or credit card accounts Add or edit budget figures for each account by individual month or for an entire year Add, edit, or delete descriptions, or print or save the list of descriptions Continue with Maintaining the chart of accounts on page 60 Maintaining bank accounts on page 70 Maintaining budget figures on page 76 Maintaining description shortcuts on page 80 Add, edit, or delete auto code definitions Maintaining auto codes on page 83 User Guide 59

60 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining the chart of accounts Maintaining the chart of accounts The chart of accounts lists all the accounts in your cashbook file. Accounts classify transactions so that reports give a true picture of the state of your business. In MYOB Cashbook the standard account types revenue, expense, capital, asset, and liability conform to normal accounting conventions. Account codes Account codes for different types of accounts are normally placed in different numerical blocks, for example: Account type Numerical block Examples Revenue (income) Sales (GST), 232 Sales (GST Free) Expense Stock Purchases, 302 Advertising Capital (equity) Drawings, 550 Proprietors Investment Asset (a) 680 ANZ Bank Cheque Account #1, 720 Office Assets Liability Provision for PAYE, 908 Provision for GST a Bank accounts should be between 680 and 689n inclusive. If a block has insufficient numbers, you can use master and subaccount account codes. For example, you might have a master code of 680 for the Bank master account, and 680/01 for a Bank Cheque subaccount. You can only post to subaccounts. Master accounts summarise their subaccounts by summing their current balances. For example, the balance of 410 Motor Vehicle Expenses is the sum of the current balances of the subaccounts 410/01, 410/02, and 410/03: 410 Motor Vehicle Expenses 410/01 Petrol & Oil 410/02 Registration & Insurance 410/03 Repairs & Maintenance GST types MYOB Cashbook handles GST types automatically, posting GST paid to the Input Tax account and GST collected to the GST Payable account. The other GST types, although having a tax rate of zero, allow the correct figures to appear in the GST Report so you can complete your GST Return. NOTE GST preferences settings You can track GST collected and GST paid only if you previously switched on GST tracking and specified GST system accounts in the Preferences dialog see Setting preferences on page MYOB Cashbook

61 Maintenance: tuning the cashbook file Maintaining the chart of accounts 2 C H A P T E R Quantities For each account, you can include quantities as well as the monetary amount. The ability to specify quantities in transactions is a convenience for primary producers wishing to track movements of heads of livestock. This is not a standard inventory function, so most other businesses should not use this option. NOTE Quantity preference setting You can enter quantities only if you set up quantities entry in the Preferences dialog see Setting preferences on page 153. Historical balances You can enter yearly and monthly account balances for the previous three years to compare with the current year in reports. When you close a financial year, MYOB Cashbook drops the figures for the oldest historical year and adds historical figures for the year just closed. CHART OF ACCOUNTS PROCEDURES To add a new account, below To edit an existing account, page 67 To delete an existing account, page 68 To print the chart of accounts, page 69 To save the chart of accounts as a file, page 69 User Guide 61

62 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining the chart of accounts To add a new account CAUTION Check with your accountant If you are unsure about adding new accounts to the chart of accounts, consult with your accountant first. You would have chosen a suitable account code structure for identifying master accounts and subaccounts in the original chart of accounts. Once you have posted any transactions, you must continue with the existing account code structure. The standard structure is three digits for master-account codes, a slash, and two digits for subaccounts codes (that is, subcodes), for example, 410/96. If you are building a custom chart of accounts from scratch, you have the opportunity to specify a different structure for account numbers in the Preferences dialog see Setting preferences on page Go to the Maintenance command centre and click Maintain Chart of Accounts. The Maintain Chart of Accounts window displays the single page view. If you do click the Tabular radio button, refer to these side notes in subsequent steps. The single page view, displayed by clicking the Single Page button, is easier if you have not used MYOB Cashbook before. Later, when you are more familiar with the program, click the Tabular radio button for a spreadsheet view, quicker to work with. 2 Go to the Edit menu and choose Add Account. The Adding a New Account dialog is displayed. NOTE Number of characters in fields In the next step, the number of digits available in the Account Code field and the number of characters in the Account Description field are determined by settings in the Preferences dialog see Setting preferences on page MYOB Cashbook

63 Maintenance: tuning the cashbook file Maintaining the chart of accounts 2 C H A P T E R 3 Enter a subaccount code in the Accounts field (make sure the code falls in the correct numerical block see Account codes on page 60). Single subaccount Do this if you want a stand-alone subaccount that is not to be summarised in a master account. Type digits only before the slash (/), for example, 720/. Subaccount with master account Do this if you intend to have two or more subaccounts summarised by a master account, for example, 720 Office Assets 720/01 Office Assets Furniture 720/04 Office Assets Equipment Type digits before and after the slash (/), for example, 720/04. 4 Type the name of the account in the Account Description field. When this is a subaccount, it is a good idea to type the master account name followed by the subaccount name, for example, Office Assets Equipment. 5 Click OK. The Maintain Chart of Accounts window redisplays the General tab. When you typed in an account code with digits before and after the slash (/) in Step 3 (for example, 720/04), the Select Accounts list displays a new master account whose account code is the prefix of the subaccount you created (720), and with a temporary description (* 720 Master Account *). Drag through the temporary description (for example, * 720 Master Account *) and edit it (for example, Office Assets). NOTE Bank accounts and GST accounts are special Bank accounts are a special case of an asset account and need to be set up differently, first, by creating an asset account and, then, by registering it as a bank account see To add a new bank account on page 71. GST tracking and special GST accounts are best set up with the Easy Setup Assistant wizard see Creating a cashbook file by building your own on page 35. User Guide 63

64 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining the chart of accounts In the Tabular view, enter account Type, GST Type, and Qty. 6 Choose the type of account from the Account Type drop-down list and complete the remainder of the General tab accordingly. Enter the details appropriate to the type of account and then resume with Step 7 below. Revenue account properties, page 65 Expense account properties, page 65 Capital account properties, page 66 Asset account properties, page 66 Liability account properties, page 67 NOTE Quantity preference setting In subsequent steps, you can enter quantities only if you previously allowed quantities entry in the Preferences dialog see Setting preferences on page 153. In the Tabular view, click the Prior Years tab. 7 Complete the optional closing balances for previous years. MYOB Cashbook progressively updates the previous years figures as you roll over each financial year. A B A $ Value Type the (optional) closing balances for previous years. B Quantity Type the (optional) closing quantities for previous years. In the Tabular view, click the Last Year $ tab. In the Tabular view, click the Last Year Qty tab. 8 Click the Balances tab and enter the monthly closing balances in the Last Year column. Only record these balances if you want a comparison of current year figures with those of the previous year in reports. MYOB Cashbook progressively updates the previous year s monthly balances as you roll over each financial year. 9 Click the Quantities tab and enter the monthly closing balances in the Last Year column. The Last Year column is only available if you marked the Includes Quantities checkbox in Step 6 on page 64 and set preferences to allow quantities in transactions see Setting preferences on page 153. Only record these balances if you want a comparison of current year figures with those of the previous year in reports. MYOB Cashbook progressively updates the previous year s monthly balances as you roll over each financial year. 10 Click Close. 64 MYOB Cashbook

65 Maintenance: tuning the cashbook file Maintaining the chart of accounts 2 C H A P T E R REVENUE ACCOUNT PROPERTIES Revenue accounts record income from sales and other credits, for example, interest earned. Complete the revenue account information and then resume with Step 7 on page 64. A B C A Account Type Choose Revenue from the drop-down list. B GST Type You can only track GST when this has been set up see Setting preferences on page 153. Specify the GST rates for Output Tax when you charge GST on sales of goods and services to your customers. MYOB Cashbook calculates the GST on transactions and posts the GST portion to the GST Payable account. C Includes Quantities Primary producers only. Mark, to allow quantities (number of units) to be entered in transactions. You must previously have allowed quantities entry in the Preferences dialog see Setting preferences on page 153. EXPENSE ACCOUNT PROPERTIES Expense accounts record purchases and other costs, and other debits, for example, bank account fees. Complete the expense account information and then resume with Step 7 on page 64. A B C A Account Type Choose Expenses from the drop-down list. B GST Type You can only track GST when this has been set up see Setting preferences on page 153. Specify Input Tax when you pay GST on purchases of goods and services and later claim tax credits. MYOB Cashbook calculates the GST on transactions and posts the GST portion to the Input Tax account C Includes Quantities Primary producers only. Mark, to allow quantities (number of units) to be entered in transactions. You must previously have allowed quantities entry in the Preferences dialog see Setting preferences on page 153. User Guide 65

66 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining the chart of accounts CAPITAL ACCOUNT PROPERTIES Capital accounts record the owners equity in the business, that is, the difference between assets and liabilities, and changes in capital arising from transactions or journal adjustments. Complete the capital account information and then resume with Step 7 on page 64. A B C A Account Type Choose Capital from the drop-down list. B GST Type You can only track GST when this has been set up see Setting preferences on page 153. Specify only the Exempt classification since capital accounts record only movements between your other accounts C Includes Quantities Leave clear, since capital accounts record only movements between your other accounts. ASSET ACCOUNT PROPERTIES Asset accounts record property belonging to the business fixed assets such as buildings, furniture, equipment, and inventory and current assets such as amounts owed to the business by customers and other debtors. NOTE Bank accounts and GST accounts are special Bank accounts are a special case of an asset account and need to be set up differently, first, by creating an asset account and, then, by registering it as a bank account see To add a new bank account on page 71. GST accounts are set up in the Preferences dialog see Setting preferences on page 153. Complete the asset account information and then resume with Step 7 on page 64. A B C A Account Type Choose Asset from the drop-down list. B GST Type You can only track GST when this has been set up see Setting preferences on page 153. Specify Input Tax when you pay GST on purchases of goods and services and later claim tax credits. MYOB Cashbook calculates the GST on transactions and posts the GST portion to the Input Tax account. C Includes Quantities Primary producers only. Mark, to allow quantities (number of units) to be entered in transactions. You must previously have allowed quantities entry in the Preferences dialog see Setting preferences on page MYOB Cashbook

67 Maintenance: tuning the cashbook file Maintaining the chart of accounts 2 C H A P T E R LIABILITY ACCOUNT PROPERTIES Liability accounts record amounts owed by the business term liabilities such as mortgages and motor-vehicle finance and current liabilities such as amounts owed to suppliers and other creditors. Complete the liability account information and then resume with Step 7 on page 64. A B C A Account Type Choose Liability from the drop-down list. B GST Type You can only track GST when this has been set up see. Specify the Exempt classification since liability accounts only record movements of funds between your other accounts. C Includes Quantities Primary producers only. Leave clear, since liability accounts record only movements between your other accounts. To edit an existing account CAUTION Check with your accountant If you are unsure about editing accounts, check with your accountant first. Some system accounts must be present and have particular properties for MYOB Cashbook to work correctly. Accounts must also have the correct account type, for example, asset or liability. Altering accounts without understanding the consequences could lead to unexpected effects. You cannot change account numbers. It is generally unwise to change accounts. In particular, changing the Account Type or GST Type field may generate misleading financial reports, particularly the GST report required for completing the GST Return. When it is necessary to change an account, instead consider creating a new account and discontinuing the use of the old account, and after rolling over the financial year, deleting the old account. You can change any property of an account when no transactions have been posted to it. User Guide 67

68 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining the chart of accounts 1 Go to the Maintenance command centre and click Maintain Chart of Accounts. The Maintain Chart of Accounts window displays the General tab in the single page view. If you do click the Tabular radio button, refer to these side notes in subsequent steps. The single page view, displayed by clicking the Single Page radio button, is easier if you have not used MYOB Cashbook before. Otherwise, click the Tabular radio button for a spreadsheet view that is quicker to work with. 2 Highlight the account to be edited in the Select Accounts list. Editing the account details is similar to adding a new account, so continue with Step 6 on page 64, in To add a new account. MYOB Cashbook warns you when changes to the Account Type and GST Type fields may compromise reports and GST Return amounts. To delete an existing account CAUTION Check with your accountant If you are unsure about editing accounts, check with your accountant first. Some system accounts must be present and have particular properties for MYOB Cashbook to work correctly. Deleting accounts without understanding the consequences could lead to unexpected effects. You must delete all subaccounts before you can delete the master account to which they belong. For example, given 410 Motor Vehicle Expenses 410/01 Petrol & Oil 410/02 Registration & Insurance 410/03 Repairs & Maintenance you must delete 410/01, 410/02, and 410/03 before you can delete 410. You can only delete a subaccount when it has no transactions. 1 Go to the Maintenance command centre and click Maintain Chart of Accounts. The Maintain Chart of Accounts window displays the General tab in the single page view. 68 MYOB Cashbook

69 Maintenance: tuning the cashbook file Maintaining the chart of accounts 2 C H A P T E R 2 Highlight the account to be deleted in the Select Accounts list. 3 Go to the Edit menu and choose Delete Account, and then click Yes in the warning dialogs. The account disappears from the Select Accounts list. To print the chart of accounts 1 Go to the Maintenance command centre and click Print Chart of Accounts. The Chart of Accounts Report window is displayed. 2 Select the type of report to print. Radio button Standard Chart of Accounts Report List of Accounts with Invalid Parameters Explanation Lists the details of each account number, name, type, GST type, and whether quantities are applicable sorted by account number. Lists accounts that have not been assigned to one of the five types (revenue, expense, capital, asset, or liability), or which do not have a GST type specified. 3 Click the Preview button, examine the Report Preview window to ensure it is correct, and click Close. The Chart of Accounts Report window is redisplayed. 4 Click the Print button. To save the chart of accounts as a file 1 Go to the Maintenance command centre and click Print Chart of Accounts. The Chart of Accounts Report window is displayed. 2 Select the type of report to print. Radio button Standard Chart of Accounts Report List of Accounts with Invalid Parameters Explanation Lists the details of each account number, name, type, GST type, and whether quantities are applicable sorted by account number. Lists accounts that have not been assigned to one of the five types (revenue, expense, capital, asset, or liability), or which do not have a GST type specified. 3 Click the Preview button. The Report Preview window is displayed. 4 While previewing the report click To Word or To PDF. See Exporting reports to PDF or Microsoft Word on page 134 for more information. 5 Click Close. The Description Report window is redisplayed. 6 Click Close. User Guide 69

70 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining bank accounts Maintaining bank accounts In MYOB Cashbook, bank accounts are accounts with any type of financial institution, not just banks, for example, credit unions, credit card companies, or mortgage lenders. The accounts with a financial institution can be cheque accounts, savings accounts, credit-card accounts, or any other type of account that accepts deposits and allows withdrawals or payments. The methods of making deposits or withdrawals can include cash transactions, cheques, credit-card transactions at the point of sale or at teller machines, direct transfers between institutions or other methods. NOTE GST reported on all accounts All transactions are summarised on your GST report. If you intend to use MYOB Cashbook for your personal finances, start a new cashbook. Do not add a personal bank account to your business cashbook file. BANK ACCOUNTS PROCEDURES To add a new bank account, below To edit an existing bank account, page 74 To delete an existing bank account, page MYOB Cashbook

71 Maintenance: tuning the cashbook file Maintaining bank accounts 2 C H A P T E R To add a new bank account CAUTION Don t mix personal and business accounts You should not add bank accounts used for your personal finances to the chart of accounts. Only bank accounts associated with your business should be included. Instead, set up a separate cashbook file for personal finances. CREATE AN ASSET ACCOUNT 1 Go to the Maintenance command centre and click Maintain Chart of Accounts. The Maintain Chart of Accounts window displays the General tab in the single page view. If you do click the Tabular radio button, refer to these side notes in subsequent steps. The single page view, displayed by clicking the Single Page radio button, is easier if you have not used MYOB Cashbook before. Later, when you are more familiar with the program, click the Tabular radio button for a spreadsheet view which is quicker to work with. 2 Go to the Edit menu and choose Add Account. The Adding a New Account dialog is displayed. NOTE Number of characters in fields In the next step, the number of digits available in the Account Code field and the number of characters in the Account Description field are determined by settings in the Preferences dialog see Setting preferences on page 153. User Guide 71

72 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining bank accounts 3 Enter an account code in the Accounts field (make sure the code falls between 680 and 689 inclusive see Account codes on page 60). Type digits only before the slash (/), for example, 687/. 4 Type the name of the account in the Account Description field. 5 Click OK. The Maintain Chart of Accounts window redisplays the General tab. 6 Complete the General tab. A B C A Account Type Specify Asset. B GST Type Specify Exempt GST does not apply to movements of funds. C Includes Quantities Clear a bank (asset) account only records movements of funds. In the Tabular view, click the Prior Years tab. 7 Enter historical balances. a Complete the optional closing balances for previous years. MYOB Cashbook progressively updates the previous years figures as you roll over each financial year. A B A $ Value Type the (optional) closing balances for previous years. B Quantity Leave blank a bank (asset) account only records movements of funds. In the Tabular view, click the Last Year $ tab. Ignore the Last Year Qty tab. b Click the Balances tab and enter the monthly closing balances in the Last Year column. Only record these balances if you want a comparison of current year figures with those of the previous year in reports. MYOB Cashbook progressively updates the 72 MYOB Cashbook

73 Maintenance: tuning the cashbook file Maintaining bank accounts 2 C H A P T E R previous year s monthly balances as you roll over each financial year. Ignore the Quantity tab. 8 Click Close. The Maintenance command centre is redisplayed. DEFINE THE BANK ACCOUNT You need to tell MYOB Cashbook that the new asset account is a bank account. 9 Click the Maintain Bank Accounts button. The Maintain Bank Accounts window is displayed. 10 Go to the Edit menu and choose Add Bank Account. The Add a Bank Account dialog is displayed. 11 In the Enter the Account code field, type the account code you entered in Step 3 above, and press the TAB key. The matching bank account name is displayed next to the account code. 12 Complete the Add a Bank Account dialog. A B C A Account Type While we refer to bank accounts, it is used to also apply to credit cards or other financial accounts. Select the correct type from the drop-down list. This will affect the format of the Actual Account Number field. B C Actual Account Number Opening Balance Type the account number assigned by the bank or other financial institution. Type your bank balance on the date you commenced using MYOB Cashbook to manage your business. This is the closing balance on your bank statement from the month prior to starting up. When you type an opening balance, MYOB Cashbook creates an opening balance account, normally 999 Opening Balance, and posts the amount to it. Do not edit or delete this account. 13 Click OK. The Maintain Bank Accounts window is redisplayed. 14 Click Close. User Guide 73

74 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining bank accounts To edit an existing bank account 1 Go to the Maintenance command centre and click Maintain Bank Accounts. The Maintain Bank Accounts window is displayed. 2 Highlight the account to be edited and click the Properties button. The Bank Account Properties dialog is displayed. 3 Edit the Bank Account Properties dialog. A B C A Account Type While we refer to bank accounts, it is used to also apply to credit cards or other financial accounts. Select the correct type from the drop-down list. This will affect the format of the Actual Account Number field. B C Actual Account Number Opening Balance Alter the account number allotted by the bank or other financial institution. Consult your accountant before changing this. Altering the opening balance after you have entered transactions or generated reports may affect your data. When your accountant approves, type your bank balance on the date you commenced using MYOB Cashbook to manage your business. When you type an opening balance, MYOB Cashbook creates an opening balance account, normally 999 Opening Balance, and posts the amount to it. Do not edit or delete this account. 4 Click OK. The Maintain Bank Accounts window is redisplayed. 5 Click Close. You must edit any other properties of the bank accounts, such as its name, in Maintain Chart of Accounts window. 6 Continue with To edit an existing account on page 67 to edit other properties of the bank account if necessary. 74 MYOB Cashbook

75 Maintenance: tuning the cashbook file Maintaining bank accounts 2 C H A P T E R To delete an existing bank account 1 Go to the Maintenance command centre and click Maintain Bank Accounts. The Maintain Bank Accounts window is displayed. 2 Highlight the account to be deleted. 3 Go to the Edit menu and choose Delete Bank Account. The Maintain Bank Accounts message asks if you are sure you want to delete the bank account. 4 Click Yes. NOTE Bank account still exists The highlighted account is removed from the Maintain Bank Accounts window but is still listed as a general asset account in the chart of accounts displayed by the Maintain Chart of Accounts window. 5 Continue with To delete an existing account on page 68. User Guide 75

76 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining budget figures Maintaining budget figures Budgets let you estimate your future cash revenues and outgoings in the current year to track actual against expected performance, and ensure that cash flow is sufficient to meet liabilities when they fall due. NOTE This year versus previous years Budget figures are those you expect to achieve in the current year. MYOB Cashbook also lets you enter historical figures for previous years to compare with the current year s performance see To edit an existing account on page 67 for the procedure to enter historical balances. BUDGETS PROCEDURES To enter or edit monthly budget figures, below To enter or edit annual budget figures, page 78 To enter or edit monthly budget figures You allocate budget figures to individual months when there is significant seasonal variation over the year. For example, sales of frozen foods peak in summer, insurance premiums renewals fall in particular months, or electricity, gas, and heating-oil charges peak in winter. You can enter or edit budget amounts in subaccounts, but not in master accounts. 1 Go to the Maintenance command centre and click Maintain Budgets. The Maintain Budgets window displays the Budget Values tab. 76 MYOB Cashbook

77 Maintenance: tuning the cashbook file Maintaining budget figures 2 C H A P T E R 2 Enter budget monetary values in the Budget Values tab. a b c d Click in the first month column of an account for which budget figures are to be entered. When your financial year ends on 31 March, the first month is April. Normally you only need to enter figures for revenue and expense accounts. If you expect to purchase equipment or other capital assets or obtain a loan or other term liability, you can enter these in the appropriate asset or liability accounts. If you expect to inject funds into or withdraw funds from the business, you can enter the amounts in capital accounts. Type the budget amount for that month and press the TAB key, and then repeat for subsequent months. Type negative amounts for revenue, capital, and liability accounts. Enter or edit the amount in the Opening Balance column if requested by your accountant. After rolling over the previous financial year, the opening balances for the new or current financial year are automatically zeroed except for bank accounts. NOTE Repeat from Step 2a until all relevant accounts are completed. Quantity preferences In the next step, you can enter quantities only if you previously allowed quantities entry in the Preferences dialog see Setting preferences on page Enter budget quantities. Quantities are used by businesses dealing in livestock who wish to track stock movements. When you enter unit quantities, make sure that the corresponding total value that you entered in the Budget Values tab is equivalent to the unit value number of units. For example, if you have head of sheep valued at $40 each, the total value is $ a b c Click the Budget Quantities tab. Highlight an account for which budget quantities are to be entered. Enter budget unit quantities in a way similar to that for budget monetary amounts. 4 Click Close. User Guide 77

78 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining budget figures To enter or edit annual budget figures You allocate an equal amount to each month for figures which vary little from month to month, for example, rental payments (as revenue or expense) or water bills. 1 Go to the Maintenance command centre and click Maintain Budgets. The Maintain Budgets window displays the Budget Values tab. 2 Enter budget monetary amounts in the Budget Values tab. a b Highlight an account for which budget figures are to be entered. Normally you only need to enter figures for revenue and expense accounts. If you expect to purchase equipment or other capital assets or obtain a loan or other term liability, you can enter these in the appropriate asset or liability accounts. If you expect to inject funds into or withdraw funds from the business, you can enter the amounts in capital accounts. Click the Allocate Monthly Budget button. The Allocate Budgets dialog is displayed. c Enter the amount that is to be applied equally to all months in the financial year. Type negative amounts for revenue, capital, and liability accounts. Click the Allocate Total radio button and type an annual amount to be divided by twelve and applied equally to each month. 78 MYOB Cashbook

79 Maintenance: tuning the cashbook file Maintaining budget figures 2 C H A P T E R d e f or Click the Allocate radio button and type a monthly amount to be applied as-is to each of the twelve months. Click OK. In the Maintain Budgets window, MYOB Cashbook applies the specified amount to each month of the highlighted account. Enter or edit the amount in the Opening Balance column if requested by your accountant. After rolling over the previous financial year, the opening balances for the new or current financial year are automatically zeroed except for bank accounts. Repeat from Step 2a until all relevant accounts are completed. NOTE Quantity preferences In the next step, you can enter quantities only if you previously allowed quantities entry in the Preferences dialog see Setting preferences on page Enter budget quantities. Quantities are used by businesses dealing in livestock who wish to track stock movements. When you enter unit quantities, make sure that the corresponding total value that you entered in the Budget Values tab is equivalent to the unit value number of units. For example, if you have head of sheep valued at $40 each, the total value is $ a b c Click the Budget Quantities tab. Highlight an account for which budget quantities are to be entered. Click the Allocate Monthly Budget button and enter budget unit quantities in a way similar to that for budget monetary amounts. 4 Click Close. User Guide 79

80 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining description shortcuts Maintaining description shortcuts Have you ever used a word processing program with a glossary or auto-text feature? These let you type a short keyword that automatically expands into a predefined string of characters a great timesaver when you have to enter repetitive text frequently, such as a long company name. MYOB Cashbook has a similar feature, called Description shortcuts. When entering transaction detail lines, you type a short keyword in the Description column which automatically expands into predefined text. Description shortcuts consist of a keyword (Code) matched to a descriptive text string (Description). The text string can be the name of a business you deal with regularly (SecuraPrem Ltd) or a recurring transaction (Rent 20 Thomas Street). DESCRIPTIONS PROCEDURES To add a new description shortcut, below To edit an existing description shortcut, page 81 To delete an existing description shortcut, page 81 To print description shortcuts, page 82 To save description shortcuts as a file, page 82 To add a new description shortcut 1 Go to the Maintenance command centre and click Maintain Descriptions. The Maintain Descriptions window is displayed. 2 Go to the Edit menu and choose Add Description. The Add New Description dialog is displayed. 3 Complete the Add New Description dialog and click OK. A B A Code Type a code you can easily recall. B Description Type a text string either a business name or recurring transaction. The new description is displayed in the Maintain Descriptions window. 4 Click Close. 80 MYOB Cashbook

81 Maintenance: tuning the cashbook file Maintaining description shortcuts 2 C H A P T E R To edit an existing description shortcut You can edit the text string (Description) of an existing description but not its keyword (Code). NOTE Changing a description s code You can only change the code of a description by deleting the description and re-entering it. See To delete an existing description shortcut below and To add a new description shortcut above. 1 Go to the Maintenance command centre and click Maintain Descriptions. The Maintain Descriptions window is displayed. 2 Highlight the Description column of a description row that is to be changed. 3 Over type or edit the text string in the Description column. 4 Click Close. To delete an existing description shortcut 1 Go to the Maintenance command centre and click Maintain Descriptions. The Maintain Descriptions window is displayed. 2 Highlight the description row to be deleted. 3 Go to the Edit menu and choose Delete Description. The Removing a Description dialog is displayed. 4 Click Yes. The Maintain Descriptions window is redisplayed. 5 Click Close. User Guide 81

82 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining description shortcuts To print description shortcuts 1 Go to the Maintenance command centre and click Print Descriptions. The Description Report window is displayed. 2 Click the Preview button to examine how the report will print. The Report Preview window is displayed. 3 Click Close. The Description Report window is redisplayed. 4 Click Print. 5 Click Close. To save description shortcuts as a file You can save your list of shortcuts as a Microsoft Word or PDF file, for easy reference or inclusion in a word-processing or spreadsheet document. 1 While previewing the report (as explained above) click To Word or To PDF. See Exporting reports to PDF or Microsoft Word on page 134 for more information. 2 Click Close. The Description Report window is redisplayed. 3 Click Close. 82 MYOB Cashbook

83 Maintenance: tuning the cashbook file Maintaining auto codes 2 C H A P T E R Maintaining auto codes Importing transactions from financial institutions You can download transactions from most banks or other financial institutions in a comma-separated values (CSV) file. Other financial institutions may use different file formats, such as Open Financial Exchange (OFX). Each row in one of these files has three items of data: date, amount, and particulars. When you import downloaded transaction files, MYOB Cashbook applies a filter for the appropriate bank which reformats each row in the file into a transaction row in the Enter Transactions window. Processing automatically with auto codes You can automatically detect particular transactions with auto codes. An auto code consists of one or more patterns that matches a row in the imported transaction file, and a list of one or more accounts and the percentage split of each to which the transaction row is to be allocated. You can optionally specify a custom description which replaces the imported particulars. When you import transactions, those matching an auto code are automatically allocated and split. You only have to process the remaining uncoded transactions manually. AUTO CODES PROCEDURES To add a new auto code while importing transactions, below To edit an existing auto code, page 87 To delete an existing auto code, page 89 To add a new auto code while importing transactions NOTE Maintenance creation method not recommended In the Auto Codes Maintenance window, you can go to the Edit menu and choose the Add New Auto Code option to create an auto code. This method requires detailed knowledge of how the import filters for different financial institutions dissect imported transactions, technical information beyond the scope of this guide. Instead, you should define auto codes while importing downloaded transaction files, as described in this section. 1 Go to the Processing command centre and import transactions from your financial institution s downloaded transaction file. See To import a downloaded transaction file on page 95. The Enter Transactions window should be open when you have completed this procedure. User Guide 83

84 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining auto codes 2 Highlight the transaction row for which you want to create an auto code. Only transactions that have a regularly occurring pattern are suitable for auto coding. For example, a rent cheque is usually the same amount every month, a bank charge or transaction tax usually has the same reference (for example, Accnt Fee or FID), or a direct credit has the same other party (From BrightStar Plumbing). 3 Click the Define Auto Code button. The Auto Coding Definition dialog displays field values derived from the amount and particulars columns of the imported transaction file. CAUTION Auto codes apply universally Auto codes are applied to transactions imported from any financial institution. In subsequent steps, be sure to create the auto code so that it cannot accidentally allocate transactions from other financial institutions to incorrect accounts. 4 Specify the patterns on which to match transactions. a b Mark the checkboxes of the patterns to be applied. Edit the pattern in the field to make the match more general, applying wildcards if necessary see Auto code wildcard patterns on page 87. Study the patterns in the Enter Transactions window to establish a consistent usage or look at your bank or credit-card statement for an explanation of codes. 84 MYOB Cashbook

85 Maintenance: tuning the cashbook file Maintaining auto codes 2 C H A P T E R A C E G B D F A Transaction Type These are numbers representing different transaction types, for example, 0 for debits and 50 for credits. They are not standard across financial institutions and not used at all by some institutions. An alternative to the Source code (B). B Source Specifies text codes for transactions, for example, EFTPOS, DC (direct credit), AP(automatic payment), and so on. They are not standard across financial institutions. An alternative to the Transaction Type (A). C Particulars A description of the transaction, particularly credit-card purchases, for example, MENS FOOTWEAR supplied by a trader. An alternative to Analysis (D). D Analysis A description of the transaction, particularly credit-card purchases, for example, INTEREST earned by the account. An alternative to Particulars (C). E Reference The financial institution s transaction number, for example, cheque number, deposit summary sheet number, credit card transaction number, or cash withdrawals (Payment) or deposits (Deposit). F Other Party The payer of a deposit or other debit, or the recipient of a payment or other credit, for example, COLLIN JOHN. G Amount The positive (credit) or negative (debit) amount of the transaction. Use this pattern only if the amount is likely to be the same on each occasion, for example, rental revenue. 5 Allocate the transaction to one or more accounts. You can automatically allocate a transaction to a single account or split it across several accounts. Add a new row by pressing the ENTER or DOWN ARROW key and then completing the row. Ensure that the % (percentage split) column sums to 100. Delete a row by highlighting it and pressing F8, and then changing the remaining % (split) cells to sum to 100. User Guide 85

86 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining auto codes A B E C D A Replace transaction description MYOB Cashbook replaces the default description derived from the imported transaction by the text in the Transaction Description column (D). B Account Click in the cell and type an account code, or press F9 to allocate an account. C % (split) The percentage of the total amount to be applied to the account. Ensure percentages add up to 100! D Fixed dollar (split) Definitions can include a fixed dollar amount, with any remainder being automatically allocated by percentage. E Transaction Description The default description is derived from the imported transaction. Over type this with your preferred description if you wish, which is applied when you also mark the Replace transaction description? checkbox (A). 6 Click OK. MYOB Cashbook saves the auto code, which will be applied automatically to all transactions imported in future from any financial institution. The Enter Transactions window is redisplayed. When you mark the Show Uncoded Transactions Only checkbox, MYOB Cashbook suppresses the transaction row for which you just created an auto code. 7 Repeat from Step 2 above to auto code additional transaction rows. 8 Process the remaining uncoded transaction rows. a b Mark the Show Uncoded Transactions Only checkbox to hide the transaction rows already auto coded and any transactions to which you have coded manually. Allocate the remaining uncoded transactions, and save or post them as you would normally see To edit a manual transaction on page 101 and To post a transaction batch on page MYOB Cashbook

87 Maintenance: tuning the cashbook file Maintaining auto codes 2 C H A P T E R AUTO CODE WILDCARD PATTERNS Patterns defined in the Auto Coding Definition dialog normally match on consecutive strings of characters anywhere in the description derived from the imported transaction. You can also match on consecutive strings of characters appearing at either the beginning or end not the middle of only the Reference, Particulars, Analysis, and Other Party patterns, by including an asterisk (*) in these patterns. Wildcard pattern Explanation Example stringofcharacters Matches an identical string found anywhere in the imported description. stringofcharacters* Matches a string at the beginning of the imported description. *stringofcharacters Matches a string at the end of the imported description. Birkenhead matches both BP Birkenhead and Birkenhead BP service station. Birkenhead* matches only Birkenhead BP service station. *Birkenhead matches only BP Birkenhead. To edit an existing auto code 1 Go to the Maintenance command centre and click Maintain Autocode Definitions. The Maintain Auto Code Definitions window is displayed. 2 Click the auto code row to be edited and press the ENTER key. The Auto Coding Definition dialog displays the current patterns and account allocations of the highlighted auto code. 3 Edit the patterns. a b Mark or clear the checkboxes to enable or disable patterns. Edit the pattern in the text box to make the match more general, applying wildcards if necessary see Auto code wildcard patterns on page 87. User Guide 87

88 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining auto codes A C E G B D F A Transaction Type These are numbers representing different transaction types, for example, 0 for debits and 50 for credits. They are not standard across financial institutions and not used at all by some institutions. An alternative to the Source code (B). B Source Specifies text codes for transactions, for example, EFTPOS, DC (direct credit), AP(automatic payment), and so on. They are not standard across financial institutions. An alternative to the Transaction Type (A). C Particulars A description of the transaction, particularly credit-card purchases, for example, MENS FOOTWEAR supplied by a trader. An alternative to Analysis (D). D Analysis A description of the transaction, particularly credit-card purchases, for example, INTEREST earned by the account. An alternative to Particulars (C). E Reference The financial institution s transaction number, for example, cheque number, deposit summary sheet number, credit card transaction number, or cash withdrawals (Payment) or deposits (Deposit). F Other Party The payer of a deposit or other debit, or the recipient of a payment or other credit, for example, COLLIN JOHN. G Amount The positive (credit) or negative (debit) amount of the transaction. Use this pattern only if the amount is likely to be the same on each occasion, for example, rental revenue. 4 Change, add, or delete account allocations. You can automatically allocate a transaction to a single account or split it across several accounts. Add a new row, by pressing the ENTER or DOWN ARROW key, and then complete the row. Ensure that the % (percentage split) column sums to 100. Delete a row by pressing F8, and then change the remaining % (split) cells to sum to MYOB Cashbook

89 Maintenance: tuning the cashbook file Maintaining auto codes 2 C H A P T E R A B E C D A Replace transaction description MYOB Cashbook replaces the default description derived from the imported transaction by the text in the Transaction Description column (D). B Account Click in the cell and type an account code, or press F9 to allocate an account. C % (split) The percentage of the total amount to be applied to the account. Ensure percentages add up to 100! D Fixed dollar (split) Definitions can include a fixed dollar amount, with any remainder being automatically allocated by percentage. E Transaction Description The default description is derived from the imported transaction. Over type this with your preferred description if you wish, which is applied when you also mark the Replace transaction description? checkbox (A). 5 Click OK. The Maintain Auto Code Definitions window is redisplayed. MYOB Cashbook saves the edited auto code, which will be applied automatically to all transactions imported in future from any financial institution. 6 Click Close. To delete an existing auto code 1 Go to the Maintenance command centre and click Maintain Autocode Definitions. The Maintain Auto Code Definitions window is displayed. 2 Highlight the auto code row to be deleted. 3 Go to the Edit menu and choose Delete Auto Code Definition. The MYOB Cashbook message asks you to confirm that the auto code is to be deleted. 4 Click Yes. The Maintain Auto Code Definitions window is redisplayed. 5 Click Close. User Guide 89

90 C H A P T E R 2 Maintenance: tuning the cashbook file Maintaining auto codes 90 MYOB Cashbook

91 3 Processing: entering transactions Import bank transactions, manually enter transactions, reconcile bank statements, and view transactions by account code Overview of processing 90 To go to the Processing command centre 91 Importing transactions 92 To import a downloaded transaction file 93 To edit imported transactions 95 To import MYOB Payroll journals 95 Entering transactions manually 96 To enter a transaction manually 96 To edit a manual transaction 99 To delete a manual transaction 99 Common transaction procedures 101 To allocate split amounts to several accounts 101 To post a transaction batch 102 Reconciling bank statements 103 To reconcile a bank statement 103 To edit a posted transaction 104 To delete a posted transaction 104 To lock accounting periods 104 Viewing transactions 105 To view all transactions in an account

92 C H A P T E R 3 Processing: entering transactions Overview of processing Overview of processing The Processing command centre is where all transaction entries are made, whether you are importing transactions directly from the bank or completing manual entries. In addition, you can also edit transactions and carry out bank reconciliation from the Processing command centre. The Import Transaction function is designed to import bank transactions directly from your bank via the Internet or PC-based banking software. This will reduce the amount of time you spend entering transactions into the cashbook file, as you only have to assign an account code to each imported transaction. Transactions are then posted to automatically reconcile. Use Enter Transactions to manually enter transactions. Bank Reconciliation is a real time saver. Just mark those transactions that have cleared the bank and MYOB Cashbook checks to see if your balance agrees with the bank balance. Although Bank Reconciliation is most of the time used to reconcile cheque accounts, you can also use it to reconcile your credit card or loan statements. Use Transaction Inquiry/Enquiry to view transaction details from the current year. 92 MYOB Cashbook

93 Processing: entering transactions Overview of processing 3 C H A P T E R To go to the Processing command centre 1 In any MYOB Cashbook command centre, click the Processing icon. The Processing command centre is displayed. 2 Now do the appropriate procedure. To do these procedures Import transactions from a downloaded file and edit those transactions Enter transactions manually, save them, edit them, or delete them Split transactions and, after entering or splitting, post them to the allocated accounts Reconcile bank statements, edit or delete posted transactions, and lock accounting periods Continue with Importing transactions, page 94 Entering transactions manually, page 98 Common transaction procedures, page 103 Reconciling bank statements, page 105 Import MYOB Payroll journals View posted transactions Viewing transactions, page 107 User Guide 93

94 C H A P T E R 3 Processing: entering transactions Importing transactions Importing transactions The Import Transactions function is designed to import transactions directly into your cashbook file from your bank via the Internet, or using software provided by the bank. Data entry time is reduced as the transactions only need to be allocated to the relevant accounts. There are two ways that Import Transactions can be used: Instead of entering transactions manually from bank statements, import the transactions downloaded from the bank as often as required. Then assign account codes to each transaction and post them to automatically reconcile. Enter cheques and deposits manually and import the other transactions. To ensure that the cheques and deposits will reconcile automatically, enter the entire cheque or deposit number without any other characters, for example, (not 123 or chq 123 or chq , etc.). Then import the transactions downloaded from the bank. Any transactions that are already entered will be reconciled. Any other transactions (for example, automatic payments, direct debits or direct credits, bank charges, taxes) just need to be entered. They will also be automatically reconciled when you post the batch. Before you get started Before transactions can be imported into MYOB Cashbook from your bank, it is important that: Your bank accounts have been correctly defined in the chart of accounts. See Maintaining bank accounts on page 70. You have set-up the banking software and downloaded the import files. Import Transactions is designed to work with all banks that offer the industry standard download format OFX (Open Financial Exchange). MYOB Cashbook is also capable of downloading CSV files from bank websites offering their own CSV format. If MYOB Cashbook does not appear to support your bank's format, please contact our Technical Support Team for more information (See online help for details on how to configure your banking software). If there are existing transactions already in the system, you will be placed in the Enter Transactions processing page. These transactions must be completed prior to any import. IMPORTED TRANSACTIONS PROCEDURES To import a downloaded transaction file, next To edit imported transactions, page MYOB Cashbook

95 Processing: entering transactions Importing transactions 3 C H A P T E R To import a downloaded transaction file 1 Go to the Processing command centre and click Import Transactions. The Import Transactions window is displayed. 2 Complete the Import Transactions window. Field Into bank account Download using From To Description Select the bank account into which account you want to import transaction. Transactions can only be imported from one account at a time, for any month(s) in the current financial year. Select the download format (this list is restricted to relevant formats for the bank of the currently selected account). Enter the date for the first transaction import. Enter the date for the last transaction import. 3 Enter the location where the transaction file is located in the And saved in the following file field. Choose the appropriate software/bank and enter the correct location of the data. If the banking software has a default location that it is installed to, this will be selected. If there is none, then the cashbook file will default to C:\ and you will need to manually browse for the location (click the ellipsis [ ] button). CAUTION Take care to select the target bank account Most CSV files do not contain any references to actual bank numbers so it is possible to accidentally import them into any bank account. 4 Click the Import button. All available transactions will be imported and then compared with all previously entered transactions to filter out those that have been previously entered or imported. The comparison is mainly based on the dollar amount and the reference used. If a match is found, the existing transaction is automatically reconciled and the imported transaction discarded. If there is a partial match (for example, an unreconciled transaction is found with the same amount, but a different reference) then the software will prompt to confirm that the imported transaction matches with the existing one. User Guide 95

96 C H A P T E R 3 Processing: entering transactions Importing transactions 5 Click OK. The message tells you how many transactions exist, and how many new transactions have been imported. 6 Click OK. The Enter Transactions window appears, ready for you to begin coding. 7 Enter the account code for each of the imported transactions. 8 Enter the account code for each transaction in the Account column. For quick data entry, press F9 to choose from the account list. Split an amount across several account codes by clicking the Split Transaction button and continuing with To allocate split amounts to several accounts on page 103. GST automatically calculated when each account is entered. 9 Mark the following checkboxes as required. Field Show Uncoded Transactions only Prompt GST Edit Descriptions Description Mark to display only those transactions that do not have an account code associated with them. Mark to select a GST rate other than the default rate. Mark to modify the descriptions imported from the bank. 10 If you want to allocate split amounts among several accounts, see To allocate split amounts to several accounts on page MYOB Cashbook

97 Processing: entering transactions Importing transactions 3 C H A P T E R 11 Select one of the following options. Click: Post to post the transactions when you have finished assigning all account codes. See To post a transaction batch on page 104. Cancel to delete the transaction batch at any stage. You will need to go through Import Transactions again. Alternatively, you can manually enter the information using the Enter Transactions function. see To enter a transaction manually on page 98. Save to save the transactions. This allows you to return to do more data entry before your transactions are posted. IMPORTED TRANSACTION OPTIONS Click the Over-ride GST Type button to change the GST type of an account type. You are provided with two options: GST Output Tax(GST on Income) or GST Input Tax (GST on Expenditure). You can change the GST for a single transaction by selecting one of these options. Click the Define Auto Code button to automatically detect particular transactions. For the procedure, see To add a new auto code while importing transactions on page 83. To edit imported transactions 1 Go to the Processing command centre and click Enter Transactions. The Enter Transactions window is displayed with the unposted transactions. 2 Place the cursor on the transaction you wish to edit and make changes as necessary. To import MYOB Payroll journals 1 Go to the File menu > Import > MYOB Payroll. The Import Payroll Transactions Options window appears. 2 If you do not want the payroll journals to be included in the Cash Flow report, clear the Import Payroll journals as cash transactions checkbox. Otherwise, leave it checked. 3 From the drop-down box, select the bank account the journals relate to. 4 Click OK to proceed or Cancel to abort. The import process will detect any exported payroll journals and import them into your Cashbook data file. User Guide 97

98 C H A P T E R 3 Processing: entering transactions Entering transactions manually Entering transactions manually Enter Transactions allows for customised data entry for MYOB Cashbook. You control the transactions and descriptions that suit you, making it easier to keep track of your information. MANUAL TRANSACTIONS PROCEDURES To enter a transaction manually, below To edit a manual transaction, page 101 To delete a manual transaction, page 101 To enter a transaction manually 1 Go to the Processing command centre and click Enter Transactions. The Transactions Entry Options window is displayed. 2 Choose the period for which you want to enter the transaction in the Accounting Period drop-down list. The Accounting Period option is only available at the start of each transaction batch. This means you can only enter transactions that span one month within a transaction batch. 3 Choose the relevant bank account that the entries relate to from the Bank Account drop-down list. 4 Choose the type of transactions you are entering from the Transaction Type dropdown list. Your options here are determined by what you have selected in the Type of Data Entry drop-down list. See To set your preferences on page 153. Choose Bank Statements to enter transactions directly from the statement received via post. This option allows you to enter Cheques, Deposits, Debits, and Credits in the one batch. Choose Cheques to enter transactions only from your cheque book. Choose Deposits to enter transactions only relating to payments received (also choose this option if entering from your receipt book). Choose Sundry Debits to enter transactions only relating to any other expenses (e.g. Automatic Payments, Bank Fees, etc.). Choose Sundry Credits to enter transactions only relating to any other income (e.g. EFTPOS sales). Choose Journals to make adjusting entries to different accounts. A journal batch must always equal zero, so it will not affect the bank balance. The posted transactions will not show in Bank Reconciliation. 98 MYOB Cashbook

99 Processing: entering transactions Entering transactions manually 3 C H A P T E R 5 Clear the Include automatic GST calculation? checkbox checked for automatic GST calculations. Automatic GST calculation can be disabled for a batch where the GST calculation is not applicable (e.g. journal entries) 6 Mark the Include Quantities? checkbox only if the current batch includes quantities. This option will only be available if the cashbook file is already set-up for quantities. See To set your preferences on page Click OK. The Enter Transactions window is displayed. To quickly change which columns prompt for data entry, click on the column heading to turn it blue, and clear it the same way. 8 Enter the following information for each of the transaction being entered. a b c d e Enter the individual transaction date in the Date column. Enter the Type this is only applicable if Bank Statements was chosen as the Transaction Type in the previous window. Enter the transaction Reference this can be the reference given on your bank statement or cheque number. Enter your account code in the Account column. Press F9 to choose from the account list. Split an amount across several account codes by clicking the Split Transaction button and continuing with To allocate split amounts to several accounts on page 103. When you enter the account code, the account name is displayed at the bottom left of the screen. Enter the transaction amount(s), this is dependent on the Transaction Type selected in the previous window and affects the column name (as indicated below). Bank Statements Withdrawals, Deposits Cheques Cheque Amount Deposits Deposit Amount Sundry Debits Amount Sundry Credits Amount User Guide 99

100 C H A P T E R 3 Processing: entering transactions Entering transactions manually f g h Journals Debit, Credit (see Journal adjustment entries on page 101). Select the GST column. Check the correct GST rate has been selected. If not change it accordingly. Press F9 to quickly enter descriptions from the Payee/Description window. To copy the description from the previous transaction into the current one press F5. Alternatively use the shortcut codes you set-up in Maintain Descriptions. See Maintaining description shortcuts on page If you want to allocate split amounts among several accounts, select the Split Transactions button. See To allocate split amounts to several accounts on page You have three options. Click: Post to post the transactions when you have finished assigning all account codes. See To post a transaction batch on page 104. Click Cancel button to delete the transaction batch at any stage. Click Save button to save the transactions. This allows you to return to do more data entry before your transactions are posted. MANUAL TRANSACTION OPTIONS Select the Over-ride GST Type checkbox to change the default GST transaction for this specific transaction. You are provided with two options; GST Payable (GST on Income) or GST Input Tax (GST on Expenditure). This will allow you to change the GST Type for a single transaction. TRANSACTION ENTRY OPTIONS Prompt Data Entry for: / Auto Repeat: Data entry for a particular field may be done in one of two ways. You may choose to make an entry for that field for every transaction, or you may choose to set an initial value and have that repeated automatically in all subsequent transactions entered. The following options are possible: To enter values manually for each transaction, mark the relevant option in the Prompt Data Entry for: section, and clear the corresponding Auto Repeat: option. To have values repeated and entered automatically, mark the relevant Auto Repeat: option and clear the corresponding Prompt Data Entry for: checkbox. 100 MYOB Cashbook

101 Processing: entering transactions Entering transactions manually 3 C H A P T E R To have values repeated, but with the opportunity to alter them as desired during processing, mark both the relevant Prompt Data Entry for: option, and the relevant Auto Repeat: checkbox. To edit a manual transaction 1 Go to the Processing command centre and click Enter Transactions. The Enter Transactions window is displayed with the unposted transactions. 2 Place the cursor on the transaction you wish to edit and make changes as necessary. To delete a manual transaction 1 Go to the Processing command centre and click Enter Transactions.The Enter Transactions window is displayed with the unposted transactions. 2 Place the cursor on the transaction, and go the File menu and click Delete Transaction. JOURNAL ADJUSTMENT ENTRIES It is poor accounting practice to correct a wrongly entered transaction by simply changing the amount or reallocating it to a different account. You may have printed a report before you correct the transaction in this way, so that there is now a discrepancy between the report and your cashbook file. It may be quite difficult to locate such a discrepancy when amounts are changed or reallocated. This is because there is no audit trail no evidence of why the change was made. It is good book-keeping practice to make an adjustment in the journal. First, you make an adjustment entry which reverses (cancels) the original transaction. Then, you make an adjustment entry which corrects the original transaction. All journal entries must total zero. Wrong account allocation When the correct amount is posted to the wrong account, you simply transfer the amount from the wrong account to the right account. For example, suppose you posted $457 to Insurance but it should have been posted to Fuel and Oil. The following transaction shows a correction adjustment which credits the Insurance account with $457 and debits Fuel and Oil with $457, leaving the total amount as zero. User Guide 101

102 C H A P T E R 3 Processing: entering transactions Entering transactions manually Wrong amount When you post a wrong amount you cannot fix it with a journal adjustment because MYOB Cashbook does not let you make journal entries to bank accounts. Instead, you need to enter the incorrect receipt or payment transaction again with the same date, reference and amount but with a negative amount. You then enter the correct transaction with the same date and reference, but with the corrected (positive) amount. For example, lets assume that when you entered a cheque in April for your Insurance premium, you accidentally swapped two digits, typing $540 instead of $450. Later that month, you discover your mistake and enter a reversing payment of $540 and a correction payment of $450 to match your cheque stub. The following transaction shows these two cheque payments. Note that the Reference column shows the cheque number of the original incorrect transaction. 102 MYOB Cashbook

103 Processing: entering transactions Common transaction procedures 3 C H A P T E R Common transaction procedures Some procedures are the same whether you are importing transactions from your financial institution or entering them manually. COMMON TRANSACTIONS PROCEDURES To allocate split amounts to several accounts, below To post a transaction batch, page 104 To allocate split amounts to several accounts NOTE Private use adjustments Expenses and assets for private use are recorded differently in MYOB Cashbook to ensure they are correctly reported on the GST Return. 1 Click on the Split Transaction button in the Enter Transactions window, whether importing or entering transactions.the Split Transaction window is displayed. 2 Leave the Transaction Date, Reference, Description, Gross Amount and Account details as they are. a b c Enter the split transaction amounts in the Amount column. The total of the split transactions must not exceed the original Transaction amount. In the above example, the two split transactions total the Gross Amount of 960. Mark the GST column. Enter a more detailed description in the Description field so you can clearly differentiate between the split transactions. User Guide 103

104 C H A P T E R 3 Processing: entering transactions Common transaction procedures SPLIT TRANSACTION OPTION Prompt Data Entry Options Mark the GST Indicator checkbox to be prompted to enter the GST amount in the GST field. Mark the Quantity - checkbox and then click the Always radio button to be prompted to always enter a quantity value in the Quantity column. (This option is only available if you have marked the Quantities checkbox in the Preferences window see Setting preferences on page 153.) Mark the Description checkbox to be prompted to enter a description in the Description field. Auto Repeat Mark the Account Code checkbox to have the account code repeated and entered automatically in the Account Code field. Mark the Description checkbox to have the description repeated and entered automatically in the Description field. To post a transaction batch When you have completed entering your transactions, you post a batch to reconcile later. 1 After clicking the Post button, choose what to do next: post transactions now, save a transaction audit report, preview a transaction audit report, or print a transaction audit report. Post transactions immediately, without a report a b Click Close. The Posting Transaction dialog is displayed. Click Yes to post the transactions and automatically reconcile them. Save the report to a file, and then post transactions a b c d e Click the Preview button to review the report. Click Save As to save the report as a text file. Choose the name you wish to save the file as. Be sure to remember the name of the file the location you saved it to. Click the Close. The Posting Transaction dialog is displayed. Click Yes to post the transactions and automatically reconcile them. Print report, and then post transactions a b c Click the Print button. The Print dialog is displayed. Click Yes. The Posting Transaction dialog is displayed. Click Yes to post the transactions and automatically reconcile them. 104 MYOB Cashbook

105 Processing: entering transactions Reconciling bank statements 3 C H A P T E R Reconciling bank statements You should reconcile your bank statement to ensure the bank s record of transactions matches that of your cashbook file. BANK RECONCILIATION PROCEDURES To reconcile a bank statement, below To edit a posted transaction, page 106 To delete a posted transaction, page 106 To lock accounting periods, page 106 To reconcile a bank statement 1 Go to the Processing command centre and click Bank Reconciliation. The Bank Reconciliation window is displayed. 2 Choose the bank account you wish to reconcile from the Bank Account drop-down list. 3 Mark the Show Unreconciled Transactions Only checkbox to display only those transactions that have not been reconciled. 4 Using your bank statement, enter the presented date of the transaction. This is the date of the transaction as shown on your bank statement. This reconciles the transaction and also determines the order of the transactions, making it match your statement. The Balance column gives you a running total, which you can use to compare with your bank statement to isolate where the bank account is out of balance. 5 To unreconcile simply clear the checkbox in the Rec column. User Guide 105

106 C H A P T E R 3 Processing: entering transactions Reconciling bank statements 6 Click the Find button to search for a transaction by date, reference, amount or account code. When you finish a batch of transactions, the transactions are saved in Bank Reconciliation window. All posted transactions are listed in date order. Use the scroll bar or press the up/down arrows to move through the list. To edit a posted transaction 1 Go to the Processing command centre and click Bank Reconciliation. The Bank Reconciliation window is displayed with the posted transactions. 2 Double click a transaction or press F5 to edit as necessary. Note that a split transaction cannot be changed to a normal transaction or vice versa. We recommend that you enter transactions through the Enter Transactions window. To delete a posted transaction 1 Go to the Processing command centre and click Bank Reconciliation. The Bank Reconciliation window is displayed with the posted transactions. 2 Place the cursor on the transaction, go to the File menu and choose Delete Transaction or F8. To lock accounting periods Lock periods prevents you from entering, deleting, or changing transactions within a defined period. That way MYOB Cashbook prevents you from accidentally entering a transaction in that period. 1 Go the Setup menu and choose Preferences. 2 Click the General Preferences tab. 3 Mark the Lock periods up to and including checkbox and select the period you wish to lock transaction for from the drop-down list. 106 MYOB Cashbook

107 Processing: entering transactions Viewing transactions 3 C H A P T E R Viewing transactions Transaction Enquiry allows you to view details of particular transactions from the current year. In this area, you ll view account codes, transaction references, net and GST amounts as well as other information. The Account Code and Name are displayed at the top of the screen. This gives you information about which account the transactions are being viewed for. The transactions being displayed cannot be changed in this area, however you can browse the full range of accounts by using the navigation buttons at the bottom of the screen. You can go directly to an account by typing the account code into the white box at the top left hand side of the page. To view all transactions in an account 1 Go to the Processing command centre and click Transaction Enquiry. The Transaction Enquiry window is displayed. The top portion of this screen also displays information about the account selected. The Account Type and the GST Type are displayed (see Maintaining the chart of accounts on page 60). The Current Year and Last Year Balances are also shown but cannot be edited. 2 Enter the account code in the Account field or press F9 to view the account list. The displayed records will automatically change to those relevant for the selected account. User Guide 107

108 C H A P T E R 3 Processing: entering transactions Viewing transactions 3 Press the arrow buttons at the bottom of the screen to move between the different accounts. Scroll button Description Go to the first bank account. Go to the previous bank account. Go to the next bank account. Go to the last bank account. 4 Double click on an entry to display the Transaction Detail window. 108 MYOB Cashbook

109 4 Reporting: monitoring your business Generate reports to monitor your cash flow and bank reconciliations, create a transaction audit trail, prepare financial statements, or complete the GST Return Overview of reporting 110 To go to the Reporting command centre 111 Running Bank Reconciliation reports 112 To run a Bank Reconciliation Report 112 Running the Cash Flow report 113 To run a Cash Flow report 113 Running GST reports 119 To run a GST report 119 Running Trial Balance reports 121 To run a Trial Balance report 121 Running Transaction Details Reports 124 To run a Transaction Details Report 124 Running User-Defined Transactions reports 129 To run a User-Defined Transaction report 129 Exporting reports to PDF or Microsoft Word 134 To export reports

110 C H A P T E R 4 Reporting: monitoring your business Overview of reporting Overview of reporting You can print a number of different reports to help you keep track of your business and report your GST obligations to the IRD. You generate reports from the Reporting command centre. NOTE Run reports from menu All of the reports in the Reporting command centre are also accessible from the Reports menu. Note that two reports appear on this menu that are not in the Reporting command centre: the Chart of Accounts report and the Descriptions report. For the procedure to print these reports, see To print the chart of accounts on page 69 and To print description shortcuts on page 82. You can also generate a Transaction Audit report when you post a batch of transactions see To post a transaction batch on page 104. Using report wizards When you are running reports, you need to specify certain basic pieces of information, such as the date range, the financial year, the type of transaction, and so on. MYOB Cashbook makes this simple. When you click a report button, you are presented with a Wizard, a series of windows in which you can specify the information you want to include in the report. You can move back and forth between these windows as you decide on what you need to report on. You can also preview the report on screen before you actually print it out. Saving report definitions For some reports, you can save the filters you specify for a report as a pre-defined report. This means you can the same report next time without having to reenter the report filters. This is useful when you are running cash flow reports on a periodic basis, such as monthly or annually, which normally require exactly the same information. 110 MYOB Cashbook

111 Reporting: monitoring your business Overview of reporting 4 C H A P T E R You can also make a pre-defined report available to other users on your network, provided they also have MYOB Cashbook installed on their computers. To go to the Reporting command centre 1 In any MYOB Cashbook command centre, click the Reporting icon. The Reporting command centre is displayed. 2 Now do the appropriate procedure. To do these procedures Continue with Generate a list of unreconciled payments and receipts in one or more of your bank accounts, and print or save the report Running Bank Reconciliation reports on page 112 Generate a report of cash receipts and cash payments actuals compared with your budget and previous years figures, and print or save the report Generate a summary GST report to complete your Goods and Services Tax Return or a detail GST report for audit purposes, and print or save these reports Generate a report of balances of each account compared with previous years, and print or save the report Generate a report that includes the details of each transaction, and print or save the report Generate a report including only the details of each transaction that you specify, and print or save the report Running the Cash Flow report on page 113 Running GST reports on page 119 Running Trial Balance reports on page 121 Running Transaction Details Reports on page 124 Running User-Defined Transactions reports on page 129 User Guide 111

112 C H A P T E R 4 Reporting: monitoring your business Running Bank Reconciliation reports Running Bank Reconciliation reports The Bank Reconciliation report prints a list of all the unreconciled transactions in your cashbook file. It shows all currently outstanding cheques and deposits, and the difference between the current cashbook account balance and your bank account statement balance. You can create as many or as few different reconciliation reports as you like by changing the filters where appropriate. You will need to run separate Bank Reconciliation reports for every bank account you want reconciled. To run a Bank Reconciliation Report 1 Go to the Reporting command centre and click Reconciliation Report. The Bank Reconciliation Report window is displayed. 2 Enter any date you wish to reconcile to in the Report Bank Balance as at... field. 3 Choose the bank account you are reconciling from the Bank Account drop-down list. 4 Decide what you want to do with the report. Preview the report This allows you to quickly check that the report has been generated correctly before you print or save it. Click the Preview button. Save the report for viewing later See Exporting reports to PDF or Microsoft Word, on page 134 for more information about saving your previewed report. Print the report Click Print. 5 Click Close. 112 MYOB Cashbook

113 Reporting: monitoring your business Running the Cash Flow report 4 C H A P T E R Running the Cash Flow report The Cash Flow report enables you to gather a range of information about the cash flow in your business. For any given period, you can include as much or as little information as you require in the report. You can choose to include your actual figures for this year and last year, the variance between this year and last year s actuals, budget figures for this year, and the difference between this year s budget and this year s actuals. To run a Cash Flow report 1 Go to the Reporting command centre and click Cash Flow Reports. The Cash Flow Report window is displayed. Step 1 Start 2 Click Next. Continue with Step 1 Start next. CAUTION Don t finish early! Clicking the Finish button before you have completed all pages of the wizard abandons the report prematurely. 1 Choose whether you want to use a pre-defined report or create a new custom report. A pre-defined report is a report you have previously saved as a template or pre-defined report. When you create a new custom report, you will have the option to save it as a pre-defined report for use next time. Pre-defined report a b Click the I d like to use a pre-defined Report Setting radio button. Choose the pre-defined report template from the Select Report Settings Definition drop-down list. User Guide 113

114 C H A P T E R 4 Reporting: monitoring your business Running the Cash Flow report Step 2 Select Report Type c Click Finish. Continue with Step 5 Finish next. New custom report a Click the I d like to Customise My Own Report Settings radio button. b Click Next. Continue with Step 2 Select Report Type next. 1 Choose whether you want to run a standard report or a wide report. The Standard Report radio button gives you a yearly overview of your business cash flow. The Wide Report radio button gives you a more detailed, month-by-month breakdown. Standard report Click the Standard Report radio button and then choose the columns you want to include in the report. Column Actual Budget Budget Variance Last Year Last Year Variance Description This financial year s actual figures your actual receipts and payments subtotalled by transaction code. The figures you budgeted for this financial year, subtotalled by transaction code. The difference between your actual and budgeted figures for this financial year, subtotalled by transaction code. For example, if your actual amount is $43,100 and your budgeted amount is $37,453, the budget variance would appear as ($5,647). Last financial year s actual figures, subtotalled by transaction code. The difference between last financial year s actual figures and this financial year s actual figures, subtotalled by transaction code. Wide report 114 MYOB Cashbook

115 Reporting: monitoring your business Running the Cash Flow report 4 C H A P T E R Click the Wide (12 month columnar) Report radio button, and specify the information you want to include in the report. Information Actual only Description Only this financial year s actual cash-flow figures your actual receipts and payments subtotalled by transaction code. Budget only Actual Bank Balance Only the cash-flow figures you budgeted for this financial year, subtotalled by transaction code, and also your actual bank balance. Budget Bank Balance Combined Actual / Budget Only the cash-flow figures you budgeted for this financial year, subtotalled by transaction code, and also your budgeted bank balance. This financial year s actual and budgeted cash-flow figures, subtotalled by transaction code. 2 Choose whether to group the subtotals in your report. Using groups allows you to sort the report information in two ways. The first way lets you group the report information into two main categories of accounts, Revenue/Expense accounts together and Asset/Liability/Capital accounts together. For example, all purchases, sales, rent, bank charges, etc. appear under the Revenue/Expense category; bank balances, property you own, monies owed, etc. appear under the Asset/Liability/Capital category. The second way lets you specify one or more groups, each of which consists of a range of account codes. For example, one group might include the range 199 to 271, and another group might include the range 908 to 999. This gives a breakdown of your receipts and payments according to cost centre, and is recommended if you have set up departments in your Chart of Accounts. Grouped in two main categories Mark the Group by Revenue/Expense and Asset/Liability/Capital checkbox. Grouped by ranges of account numbers a b c Mark the Arrange Receipts and Payments into defined Groups checkbox. Click the Set up Report Groups button. Complete the Set Up Cash Flow Report Groups window. User Guide 115

116 C H A P T E R 4 Reporting: monitoring your business Running the Cash Flow report Press F4 to add a row or press F8 to delete a row. A B C D A Sequence Type numbers in this column in the order in which you want the groups printed. B Description Type a descriptive name for the group. C Start A/c Type the account code prefix of the first account to be included in the group, that is, just the part before the slash (/). For example, you would type 980, not 980/03. D End A/c Type the account code prefix of the last account to be included in the group. d Click Next. Continue with Step 3 Select Bank Account(s) next. Step 3 Select Bank Account(s) 1 Specify the bank accounts you wish to include in your reports by marking the appropriate checkboxes. You can also click the Select All Banks button to include all bank accounts in your report. 2 Click Next. Continue with Step 4 Select Accounting Periods next. 116 MYOB Cashbook

117 Reporting: monitoring your business Running the Cash Flow report 4 C H A P T E R Step 4 Select Accounting Periods Step 5 Finish Print Report 1 Specify the accounting period to include by choosing from the Start Month and End Month drop-down lists. The default setting is the current financial year. 2 Click Next. Continue with Step 5 Finish Print Report next. 1 Choose what you want to do with the report. Preview the report generated correctly. Click the Preview button. Save the report This allows you to quickly check that the report has been See Exporting reports to PDF or Microsoft Word, on page 134 for more information about saving your previewed report. User Guide 117

118 C H A P T E R 4 Reporting: monitoring your business Running the Cash Flow report Save the report as a pre-defined report This allows you to customise a report to your requirements and then save this pre-defined report for future use. This is useful when running regular periodic reports, such as monthly or quarterly reports, which must be exactly the same. You can share a pre-defined report with other computers connected to your network if you are licensed to run MYOB Cashbook on multiple workstations. a b Mark the Save This Report Definition as checkbox to create a report template. Type a descriptive name for the pre-defined report, such as Monthly Cash Flow report. Mark the Save as a Public Definition checkbox to make the pre-defined report available to others on the same network. Note that MYOB Cashbook must be installed on any computer on your network to which you want the report template to be available. Print the report Click Print. 2 Click Close. 118 MYOB Cashbook

119 Reporting: monitoring your business Running GST reports 4 C H A P T E R Running GST reports The GST reports are used to track the GST you have paid on purchases and have collected on sales. These reports allow you to complete the GST Return. There are three GST reports: GST Summary report This report looks like the Calculation GST Return supplied by the IRD. All you need to do is copy these amounts onto the GST Return. GST Detail report This report is an audit report that analyses all transactions by GST type. It makes it easy to ensure all transactions have been given the correct GST type to be reported correctly on the GST Return. Combined GST Summary and GST Detail report This report simply prints the GST Summary and GST Detail report in a single report. Generally, you should run the GST Detail report first to check that your transactions have the correct GST type. Then run the GST Summary report to complete the GST Return form. You should consult your accountant before completing your GST Return. For further information about completing the GST Return, refer to the IRD publication GST Guide (publication IR 375). To run a GST report 1 Go to the Reporting command centre and click GST Reports. The GST Report window is displayed. 2 Choose which GST report to run. Summary Report a Mark the Summary Report checkbox to run the summary report. Copy the totals onto the GST Return. Detail Report (Audit Trail) Mark the Detail Report (Audit Trail) checkbox to run the detail report. This report lists all the transactions totalled for each field on the GST Return for the specified User Guide 119

120 C H A P T E R 4 Reporting: monitoring your business Running GST reports accounting period. For each transaction, it also includes the account in your chart of accounts in which each transaction has been recorded, with the date, reference number, gross/net/gst amounts, and any comments. Combined Summary and Detail Report Mark both the Summary Report and Detail Report (Audit Trail) checkboxes to run the combined summary and detail report. 3 Specify the reporting period. The reporting period is either monthly, bi-monthly, six monthly, depending on how you are registered with the IRD check your GST Return form. The default setting is the current financial year. Box Start Month End Month Explanation Choose the first month of the reporting period. Choose the Start Month if you are reporting monthly, or the month that ends the quarter if you are reporting on a quarterly basis. 4 Choose what you want to do with the report. Preview the report This allows you to quickly check that the report has been generated correctly before you print or save it. Click the Preview button. Save the report for viewing later See Exporting reports to PDF or Microsoft Word, on page 134 for more information about saving your previewed report. Print the report Click Print. 5 Click Close. 120 MYOB Cashbook

121 Reporting: monitoring your business Running Trial Balance reports 4 C H A P T E R Running Trial Balance reports This report shows the account balance for each account. The Trial Balance displays totals for the selected period and the Year to Date total. You can compare your account balances over a number of different time periods (for example, last year, year to date). You can also include any quantities you may have recorded against amounts in the report. You can also save the report definitions for re-use in the future. To run a Trial Balance report Go to the Reporting command centre and click Trial Balance Report. The Trial Balance Report wizard is displayed. Continue with Step 1 Start next. Step 1 Start Choose whether you want to use a pre-defined report or create a new custom report. A pre-defined report is a report you have previously saved as a template. When you create a new custom report, you will have the option to save it as a pre-defined report for use next time. Pre-defined report a b c Click the I d like to use a pre-defined Report Setting radio button. Choose the pre-defined report template from the Select Report Settings Definition drop-down list. Click Finish. Continue with Step 5 Finish Print Report next. New custom report a b Click the I d like to Customise My Own Report Settings radio button. Click Next. Continue with Step 2 Select Accounting Periods next. Step 2 Select Accounting Periods 1 Specify the accounting period. Do this by choosing the required months from the Start Month and End Month dropdown lists. The default setting will be the current financial year. 2 Click Next. Continue with Step 3 Report Column Options next. User Guide 121

122 C H A P T E R 4 Reporting: monitoring your business Running Trial Balance reports Step 3 Report Column Options 1 Choose the columns you want printed on the report. Checkbox Selected Period Year to Date Selected Period Last Year Year to Date Last Year Explanation Includes figures for the specified reporting period. Includes figures from the beginning of the financial year to the present. Includes figures for the same specified reporting period in the previous year. Includes figures only for the year to date period in the previous year. 2 Choose how you want to format the columns of the report. Radio button Double Single Quantity Explanation Arranges Debit and Credit amounts in two separate columns. Arranges both Debit and Credit amounts in a single column, but showing Credit amounts as negative. Shows the number of units that make up the value, used to summarise stock levels or other assets counted in units, such as livestock. 3 Mark the Quantity checkboxes for each row to include quantities in the report. 4 Click Next. Continue with Step 4 Other Report Options next. 122 MYOB Cashbook

123 Reporting: monitoring your business Running Trial Balance reports 4 C H A P T E R Step 4 Other Report Options Step 5 Finish 1 Choose which additional options you want to include in your report: Mark the Word wrap long descriptions checkbox so that long descriptions wrap to be completely included in the column. Otherwise, they are cut off at the boundary of the column handy to shorten long reports. Mark the Consolidate sub-codes checkbox to print master account balances and suppress subaccount balances, rather than print balances for each subaccount. 2 Click Next. Continue with Step 5 Finish next. 1 Choose what you want to do with the report. Preview the report generated correctly. Click the Preview button. Save the report This allows you to quickly check that the report has been See Exporting reports to PDF or Microsoft Word, on page 134 for more information about saving your previewed report. Save the report as a pre-defined report This allows you to customise a report to your requirements and then save this pre-defined report for future use. This is useful when running regular periodic reports, such as monthly or quarterly reports, which must be exactly the same. You can share a pre-defined report with other computers connected to your network if you are licensed to run MYOB Cashbook on multiple workstations. a b Mark the Save This Report Definition as checkbox to create a report template. Type a descriptive name for the pre-defined report, such as Monthly Cash Flow Report. Mark the Save as a Public Definition checkbox to make the pre-defined report available to others on the same network. Note that MYOB Cashbook must be installed on any computer on your network to which you want the report template to be available. Print the report Click Print. 2 Click Close. User Guide 123

124 C H A P T E R 4 Reporting: monitoring your business Running Transaction Details Reports Running Transaction Details Reports These reports print details of your transactions for an account or range of accounts, batches or periods. To run a Transaction Details Report Go to the Reporting command centre and click Transaction Details Reports. The Transaction Details Report wizard is displayed. Continue with Step 1 Start next. Step 1 Start 1 Choose whether you want to use a pre-defined report or create a new custom report. A pre-defined report is a report you have previously saved as a template or pre-defined report. When you create a new custom report, you will have the option to save it as a pre-defined report for use next time. Pre-defined report a b c Click the I d like to use a pre-defined Report Setting radio button. Choose the pre-defined report template from the Select Report Settings Definition drop-down list. Click Finish. New custom report Step 2 Select Report Type Click the I d like to Customise My Own Report Settings radio button. 2 Click Next. Continue with Step 2 Select Report Type next. Click the appropriate radio button. 124 MYOB Cashbook

125 Reporting: monitoring your business Running Transaction Details Reports 4 C H A P T E R Step 3 Select Account(s) Transaction Details by Account This lists individual transactions for each account. You can choose single accounts or a range of accounts. An accountant may refer to this report as account ledgers. Mark the Ignore accounts with no transactions checkbox to avoid printing accounts with no details. After choosing this option, continue with Step 3 Select Account(s) on page 125. Transaction Details by Batch This lists transactions of a specific batch (or multiple batches). After choosing this option, continue with Step 5 Select Batches on page 126. Transaction Details by Month Lists transactions for the specified months. After choosing this option, continue with Step 4 Select Accounting Periods on page 125. This step is displayed only when you clicked the Transaction Details by Account radio button in Step 2 Select Report Type above. 1 Choose the accounts to be selected. Click the Select a range of Accounts radio button, and enter the Start Account and End Account to specify the range of reports to be included. If you leave the Start Account and End Account fields blank, all the accounts in your chart of accounts will be included in the report. Click the Pick Accounts from a list radio button, and mark the checkbox next to each account to be reported. 2 Click Next. Continue with Step 4 Select Accounting Periods next. Step 4 Select Accounting Periods This step is displayed either if you completed Step 3 Select Account(s) above or clicked the Transaction Details by Month radio button in Step 2 Select Report Type on page 124. This step is not displayed when you click the Transaction Details by Batch radio button in Step 2 Select Report Type on page 124. User Guide 125

126 C H A P T E R 4 Reporting: monitoring your business Running Transaction Details Reports Step 5 Select Batches 1 Specify the reporting period you want your report to include by choosing from the Start Month and End Month drop-down lists. The default setting is the current financial year. 2 Click Next. Continue with Step 5 Select Batches next. This step is displayed only when you clicked the Transaction Details by Batch radio button in Step 2 Select Report Type on page 124. This step is not displayed if you clicked the Transaction Details by Month radio button in Step 2 Select Report Type. 1 Choose the batch or batches you want to report on. When in Step 2 Select Report Type if you clicked the: Transaction Details by Account radio button, mark the Select specific Data Entry batches? checkbox if you want to report by batch. Transaction Details by Batch, the Select specific Data Entry batches? checkbox is already selected. 2 Specify a range of batches or select individual batches. Range of batches Click the Enter a Range of Batches radio button, and enter the starting and ending batch numbers of the range in the Start Batch and End Batch fields. Individual batches Click the Pick individual Batches from a list radio button and click the checkbox to the left of each batch. 3 Click Next. Continue with Step 6 Other Report Options next. 126 MYOB Cashbook

127 Reporting: monitoring your business Running Transaction Details Reports 4 C H A P T E R Step 6 Other Report Options This step is not displayed if you clicked either the Transaction Details by Month or Transaction Details by Batch radio button in Step 2 Select Report Type on page 124. Step 7 Finish 1 Click the appropriate sorting options radio button for your report. Transaction Date Order No sort in order of Data Entry 2 Click Next. Continue with Step 7 Finish next. 1 Choose what you want to do with the report. Preview the report This allows you to quickly check that the report has been generated correctly. Click the Preview button. Save the report User Guide 127

128 C H A P T E R 4 Reporting: monitoring your business Running Transaction Details Reports See Exporting reports to PDF or Microsoft Word, on page 134 for more information about saving your previewed report. Save the report as a pre-defined report This allows you to customise a report to your requirements and then save this pre-defined report for future use. This is useful when running regular periodic reports, such as monthly or quarterly reports, which must be exactly the same. You can share a pre-defined report with other computers connected to your network if you are licensed to run MYOB Cashbook on multiple workstations. a b Mark the Save This Report Definition as checkbox to create a report template. Type a descriptive name for the pre-defined report, such as Weekly Transaction Details Report. Mark the Save as a Public Definition checkbox to make the pre-defined report available to others on the same network. Note that MYOB Cashbook must be installed on any computer on your network to which you want the report template to be available. Print the report Click Print. 2 Click Close. 128 MYOB Cashbook

129 Reporting: monitoring your business Running User-Defined Transactions reports 4 C H A P T E R Running User-Defined Transactions reports The User-Defined Transactions report allows you to specify exactly what information you want to include in your report. Once you have defined your report, you can then save it as a pre-defined report for future use. To run a User-Defined Transaction report 1 Go to the Reporting command centre and click User Defined Transaction Reports. The User-Defined Transaction Report window is displayed. 2 Click Next. Continue with Step 1 Start next. Step 1 Start 1 Choose whether you want to use a pre-defined report or create a new custom report. A pre-defined report is a report you have previously saved as a template or pre-defined report. When you create a new custom report, you will have the option to save it as a pre-defined report for use next time. Pre-defined report Step 2 Select Accounts a b Click the I d like to use a pre-defined Report Setting radio button. Choose the pre-defined report template from the Select Report Settings Definition drop-down list. New custom report Click the I d like to Customise My Own Report Settings radio button. 2 Click Next. Continue with Step 2 Select Report Type next. 1 Specify a range of accounts, selected individual accounts, or all accounts. Range of accounts Click the Select a Range of Accounts radio button and enter the starting and ending account codes of the range in the Start Account and End Account fields. Individual accounts Click the Pick Accounts from a List radio button and mark the checkbox to the left of each account. All accounts Click the Select ALL Accounts radio button and then mark the Print one line per Transaction checkbox to combine any split transactions into one line on the report. 2 Click Next. Continue with Step 3 Other Selection Criteria next. User Guide 129

130 C H A P T E R 4 Reporting: monitoring your business Running User-Defined Transactions reports Step 3 Other Selection Criteria 1 Choose from the Start Month and End Month drop-down lists to set the range of periods. The default setting is the current financial year. 2 Choose the types of transactions to be reported from the Transaction Types drop-down list. 3 Choose whether or not you want to include only transactions from a specific bank account in your report. Either: Mark the Specify a single Bank Account checkbox and choose a bank account from the drop-down list to only report that account, or Mark the Specify a single Bank Account checkbox to include all bank accounts. 4 Mark the Exclude System-Generated Transactions checkbox to only include transactions that you entered yourself. or Clear the Exclude System-Generated Transactions checkbox to also include systemgenerated transactions entered automatically by MYOB Cashbook. 5 Click Next. Continue with Step 4 Select Columns next. 130 MYOB Cashbook

131 Reporting: monitoring your business Running User-Defined Transactions reports 4 C H A P T E R Step 4 Select Columns 1 Edit the Selected Items list to include the required columns in the report. Double-click an item in the Available Items list to move it to the Selected Items list, or click it and click the right-arrow button ( ). Click the double right-arrow button ( ) to move all items from the Available Items list to the Selected Items list. Double-click an item in the Selected Items list to move it to the Available Items list, or click it and click the left-arrow button ( ). Click the double left-arrow button ( ) to move all items from the Selected Items list to the Available Items list. 2 Specify the left-to-right order in which the selected columns are to appear. The top-to-bottom order of the Selected Items list (included columns) determines the left-to-right order of the columns in the report. Click the square button ( ) to the left of the item to be moved and drag it up or down to the required position. 3 Click Next. Continue with Step 5 Select Sorting and Grouping Options next. User Guide 131

132 C H A P T E R 4 Reporting: monitoring your business Running User-Defined Transactions reports Step 5 Select Sorting and Grouping Options Rather than your report being a single long list with totals at the end, you can group it into smaller sections. For example, in the above illustration, the report is grouped according to account number, and within that by transaction reference and by transaction date. There will be a total for each individual account and for each transaction reference. Each account code (account number) will start on a new page. 1 Choose the sort order for your report. Choose the field to sort on from the Sort by drop-down list. Repeat this with additional field choices from the Then by drop-down lists for successive descending sorting in descending order. 2 Mark the Group Total checkboxes to indicate where subtotals are to be inserted. Grand totals are always included at the end of your report even if you opt to clear all Group Total checkboxes. 3 Mark the New Page checkboxes to indicate where the report is to continue on a new page. For example, if your first sort option is by account number, then marking the Next Page checkbox ensures that each account start on a new page. 4 Click Next. Continue with Step 6 Finish next. 132 MYOB Cashbook

133 Reporting: monitoring your business Running User-Defined Transactions reports 4 C H A P T E R Step 6 Finish 1 Choose what you want to do with the report. Preview the report generated correctly. Click the Preview button. Save the report This allows you to quickly check that the report has been See Exporting reports to PDF or Microsoft Word, on page 134 for more information about saving your previewed report. Save the report as a spreadsheet You can save the report as a spreadsheet, so that you can work on your figures further in a spreadsheet program. a b c d Click the Send the report to a Spreadsheet button. Enter a file name for the spreadsheet you are about to create. Use the file extension of the spreadsheet program you are using, such as myreport.xls. If you want to save the spreadsheet to a different folder, click the button to the right of the File Name field and navigate to the new location. By default, the report is saved to your cashbook file folder. Click OK. Save the report as a pre-defined report This allows you to customise a report to your requirements and then save this pre-defined report for future use. This is useful when running regular periodic reports, such as monthly or quarterly reports, which must be exactly the same. You can share a pre-defined report with other computers connected to your network if you are licensed to run MYOB Cashbook on multiple workstations. a b Mark the Save This Report Definition as checkbox to create a report template. Type a descriptive name for the pre-defined report, such as Weekly Sales Report. Mark the Save as a Public Definition checkbox to make the pre-defined report available to others on the same network. Note that MYOB Cashbook must be installed on any computer on your network to which you want the report template to be available. Print the report Click Print. 2 Click Close. User Guide 133

134 C H A P T E R 4 Reporting: monitoring your business Exporting reports to PDF or Microsoft Word Exporting reports to PDF or Microsoft Word MYOB Cashbook allows you to export previewed reports to PDF or Microsoft Word. To export reports 1 On the final step of a report wizard, click Preview. 2 An on-screen preview of your report will display in a new window. 1 Print - Click to send the previewed report to a printer of your choice. 2 Prev Page - Click to go to the previous page of the previewed report (only enabled for reports longer than one page). 3 Next Page - Click to go to the next page of the previewed report (only enabled for reports longer than one page). 4 Zoom In - Click to enlarge the preview. 5 Zoom Out - Click to see more of the preview. 6 To Word - Click to save the previewed report as an rtf file that can be opened in Microsoft Word. 7 To PDF - Click to save the previewed report as a pdf file that can be opened in Adobe PDF Reader. 8 Close - Click to close the preview and return to the report wizard. 134 MYOB Cashbook

135 5 Send: exporting to your accountant Extract transactions from your cashbook file and send them on a disk or by to your accountant to process GST Returns, endof-year adjustments, annual reports, and taxation returns Overview of Send 134 To go to the Send command centre 134 Extracting and sending transactions 135 To select a range of transactions to send 135 To resend transaction data sent previously 136 To the selected range of transactions 137 To save the selected transactions to a floppy disk

136 C H A P T E R 5 Send: exporting to your accountant Overview of Send Overview of Send You can easily send transaction data to your accountant for regular processing with MYOB Accountants Office or MYOB Accountants Enterprise at the end of the month, end of the quarter, end of the year, or when your accountant requests it. Transaction data can be sent either by or by saving them to a floppy disk and posting it. When data is lost in transmission, you can resend the missing batch of data. You send transaction data to your accountant from the MYOB Send command centre. To go to the Send command centre 1 In any MYOB Cashbook command centre, click the Send icon. 2 Now continue with Extracting and sending transactions next. 136 MYOB Cashbook

137 Send: exporting to your accountant Extracting and sending transactions 5 C H A P T E R Extracting and sending transactions You send transaction data to your accountant in two different ways: select the date range of transactions to be sent, and send them either by or on disk. SEND PROCEDURES To select a range of transactions to send below To resend transaction data sent previously on page 138 To the selected range of transactions on page 139 To save the selected transactions to a floppy disk on page 141 To select a range of transactions to send 1 Go to the Send command centre. 2 Click the Create new extract file radio button. 3 Choose from the Start Month and End Month drop-down lists to set the date range for the transactions to be included in the extract file. The date range defaults to include the entire financial year but you will probably want to specify just the previous month or the previous quarter. Ask your accountant how often you should send transaction data. 4 Click a radio button to choose whether the extracted data is to also include previously extracted data. Radio button Extract only transactions not previously extracted Extract all transactions in the specified range Explanation When the specified date range overlaps that of the previous transmission, this choice ensures that transactions are not duplicated. If you are not sure of the end date of the previous extract, you can safely select an overlap to ensure that no transactions are missed. You would normally click this radio button for monthly or quarterly transmission of transactions. When the specified date range overlaps that of the previous transmission, this choice sends all transactions even if some were sent before. For example, your accountant might ask you to click this radio button if he or she wanted the entire year s transactions to do end-of-year processing. 5 Choose the Type of Output depending on the software your accountant uses. 6 Now send the selected transaction data by the preferred method. To the selected range of transactions on page 139 To save the selected transactions to a floppy disk on page 141 User Guide 137

138 C H A P T E R 5 Send: exporting to your accountant Extracting and sending transactions To resend transaction data sent previously 1 Go to the Send command centre. 2 Click the Resend last extract file radio button. MYOB Cashbook keeps a record each time you select and send transactions. When you click this radio button, it automatically selects the transactions you sent on the previous occasion. 3 Choose the Type of Output depending on the software your accountant uses. 4 Now resend the transaction data by the preferred method. To the selected range of transactions next To save the selected transactions to a floppy disk on page MYOB Cashbook

139 Send: exporting to your accountant Extracting and sending transactions 5 C H A P T E R To the selected range of transactions You transaction data after you have already selected it in the Send command centre, as described in To select a range of transactions to send on page 137 or To resend transaction data sent previously on page Log on to the Internet in the usual way. Most likely you access the Internet via a dial-up telephone connection to your internet service provider (ISP). Or you may have a permanent connection via a cable modem or a local area network (LAN). In any case, you must be logged on to the Internet before you can transaction data. 2 Click the button in the Send command centre. The Send Transactions to Accountant by dialog is displayed. 3 Complete the Send Transactions to Accountant by dialog. A B C A B C Send transactions to the following address Using your address below Plain Text HTML Enter the address of your accountant s practice. Enter your address the one to which replies should be sent to receive a copy of the message that is sent to your accountant. (This address is the same as the address that appears in the From or Reply- To fields when sending messages from your program.) Click to include a covering message without any formatting, such as bold or italic (preferred). Click, only if your accountant s program supports HTML, to include a covering message formatted with different fonts and styles. 4 Click OK. The Extracting Transactions dialog confirms that MYOB Cashbook has ed the selected transactions. When you choose the HTML format, MYOB Cashbook creates a cover message identifying the sender, the cashbook file from which the transactions came, the User Guide 139

140 C H A P T E R 5 Send: exporting to your accountant Extracting and sending transactions date range, and the number of transactions. It attaches a file with a.mye file extension that contains the transaction data. NOTE When you choose the plain format, MYOB Cashbook places the cover message in a file attachment with a.dat file extension. When fails MYOB Cashbook warns you when it is unable to your transaction data for any reason. In this case, you need to resend the same data when becomes available again see To resend transaction data sent previously on page Click OK. A dialog asks whether periods are to be locked. CAUTION Locking prevents transaction entry If you click Yes in the next step, you will not be able to add transactions to the locked periods or edit them. Locking is a good idea as it ensures that, after you have sent transaction data to your accountant, no new or changed transactions can be added to the extracted periods. If necessary, it is possible to unlock periods to edit transactions see Setting preferences on page Click Yes to lock periods up to and including the end of the extract date range. or Click No to leave the periods unlocked. 140 MYOB Cashbook

141 Send: exporting to your accountant Extracting and sending transactions 5 C H A P T E R To save the selected transactions to a floppy disk You save transaction data to disk after you have already selected the data in the Send command centre, as described in To select a range of transactions to send on page 137 or To resend transaction data sent previously on page Click the On Disk button in the Send command centre. The Send Transactions to Accountant by Disk dialog is displayed. 2 Complete the Send Transactions to Accountant by Disk dialog. Accept the A:\ folder proposed by the dialog in the Path field or type the name of another folder, for example, A:\transactions\. Do not type a file name. Click the ellipsis button ( ) to open the Browse for Folder dialog, select another folder, and click OK. The folder can be on your floppy disk (for example, A:\transactions\) or on your hard disk (C:\temp\). 3 Click OK. The Extracting Transactions dialog confirms that MYOB Cashbook has saved the selected transactions to the export file. 4 Click OK. A dialog asks whether periods are to be locked. CAUTION Locking prevents transaction entry If you click Yes in the next step, you will not be able to add transactions to the locked periods or edit them. Locking is a good idea as it ensures that, after you have sent transaction data to your accountant, no new or changed transactions can be added to the extracted periods. If necessary, it is possible to unlock periods to edit transactions see Setting preferences on page Click Yes to lock periods up to and including the end of the extract date range. or Click No to leave the periods unlocked. 6 Send the export file to your accountant. User Guide 141

142 C H A P T E R 5 Send: exporting to your accountant Extracting and sending transactions 142 MYOB Cashbook

143 Other functions 6 Set up or change your password and MYOB Cashbook preferences, and back up and restore your data Backing up and restoring your data 142 To back up your cashbook file 142 To restore a backup 144 Repairing the cashbook file 145 To rebuild the index 145 To recalculate balances 145 To rebuild the cashbook list 146 Starting a new year 147 To begin a new financial year 147 Managing your password 148 To create the password 148 To change the password 149 To delete the password 150 Setting preferences 151 To set your preferences

144 C H A P T E R 6 Other functions Backing up and restoring your data Backing up and restoring your data Your business generates an enormous amount of data. Computers are very reliable, but are not perfect. You should back up (make copies) of your MYOB Cashbook data on a regular basis. Back up is the copying of computer files to some form of storage device. If you have a relatively small cashbook file, you can simply copy the MYOB Cashbook file set (*.dbf and *.fpt files) to a separate disk. Otherwise you can use MYOB Cashbook s automatic backup to create a compressed version of your cashbook file (with a *.zip extension in Windows). Don t put your backups on the same hard drive as MYOB Cashbook- a single disaster can wipe out all of your records. Why is backing up so important? Sometimes disks can become corrupted without your knowledge. Making multiple copies gives you a greater degree of protection. Why make multiple backups? Sometimes disks fail in subtle ways. A failure can corrupt a big chunk of your data in such a way that you may not notice it during a session. Once you copy the damaged data onto your only backup, you re stuck; you will have no valid backup and will need to re-create your cashbook file. Multiple backups give you a greater degree of protection. When to back up your cashbook file Daily backups rotational We recommend: If you use MYOB Cashbook every day, make a backup disk for each day of the week. Use for example, your Monday backup disk after Monday s session, Tuesday s backup after Tuesday s session, etc. Monthly backups archival After completing all entries for a month, make an archive copy. For example, when you finish making entries for February (which is usually sometime in March), make a backup copy. Label it MYOB Cashbook February 2007 Archive. Put it in a safe place, preferably in a different location to where your computer is located. Do not use this disk again. Yearly backups archival After completing all entries for a year make an archive copy. For example, when you finish making entries for 2007 (which is usually sometime in 2008), make a backup copy. Label it MYOB Cashbook 2007 Yearly Archive. Put it in a safe place, preferably in a different location to where your computer is located. Do not use this disk again. BACKING UP AND RESTORING PROCEDURES To back up your cashbook file next To restore a backup, page 146 To back up your cashbook file MYOB Cashbook s Backup command creates a backup of the cashbook file you re currently using, and compresses it to a smaller, more manageable size. 144 MYOB Cashbook

145 Other functions Backing up and restoring your data 6 C H A P T E R 1 Go to the File menu and choose Backup. The Backup Cashbook window is displayed. 2 Click on the... (ellipsis) button to choose where you want to save your cashbook file to. 3 Click OK. The backup file is created with a unique filename that includes the date and time the backup was done. User Guide 145

146 C H A P T E R 6 Other functions Backing up and restoring your data To restore a backup MYOB Cashbook s Restore command closes the cashbook file you re using, decompresses and opens backup file so you can use it, and opens the backup file. 1 Choose the disk from which you want to restore the backup file to and insert it in the floppy drive. 2 Go to the File menu and choose Restore. The Restore window is displayed. 3 Locate your backup file (e.g. A:\ for disk) or click the ellipsis button (...) to browse for an alternative location. Click OK. The second Restore Data confirmation dialog is displayed 4 Confirm that you want to continue restoring data by clicking Yes in the dialog that is displayed. 5 The Restore Data warning window is displayed. 6 Reading the warning and click OK to complete the restore. 146 MYOB Cashbook

147 Other functions Repairing the cashbook file 6 C H A P T E R Repairing the cashbook file MYOB Cashbook is very reliable but it cannot guard against the effects of power blackouts or damaged hard disks. However, although these circumstances may corrupt your data, MYOB Cashbook is nearly always able to fix the damage. REPAIRING PROCEDURES To rebuild the index, below To recalculate balances, page 147 To rebuild the cashbook list, page 148 To rebuild the index Index files are maintained by MYOB Cashbook and used to find or link records in the various databases. In some circumstances, such as a power failure during data entry, index files may become corrupted and need to be rebuilt. It is not always possible to determine why or how an index file has become corrupted. However, if the program displays errors while trying to read cashbook files or if transactions which are known to exist cannot be found, then use this option to rebuild the indexes. You may rebuild indexes files periodically as a precaution against file errors. 1 Go to the File menu and Select Verify Data File and then Reindex. The Reindex dialog box is displayed. 2 Click OK. The index is rebuilt. To recalculate balances MYOB Cashbook maintains two main files, the chart of accounts and balances, and the transactions file. This option uses the transaction file to recalculate the account balances. Use this option if the cashbook file accounts do not balance. 1 Go to the File menu and choose Verify Data File and then Recalculate Balances. The Recalculate Balances dialog is displayed with the number of accounts it has recalculated. 2 Click OK. User Guide 147

148 C H A P T E R 6 Other functions Repairing the cashbook file To rebuild the cashbook list Select this option if you have copied a cashbook to your program folder by using Windows Explorer. That way MYOB Cashbook can recognise the cashbook file as belonging to its program. Go to the File menu and choose Verify Data File and then Rebuild Cashbook List. You have successfully rebuilt your cashbook file list. 148 MYOB Cashbook

149 Other functions Starting a new year 6 C H A P T E R Starting a new year You should start a new financial year only once all the transactions and balances have been finalised for the current financial year. This is because once a new financial year has been started, you cannot make entries in the closed financial year. You cannot make entries in the new financial year until the current financial year is closed. To begin a new financial year Go to the File menu and choose Start a new year. The End of Year Rollover wizard is displayed. Follow the directions on the screen. They will prompt you step-by-step through the process. Here is a summary of what happens when you start a new financial year. For the purposes of this summary, let s say you have a calendar financial year (January to December) and you are ending 2006 and beginning MYOB Cashbook replaces last year s (2005) historical monthly totals with the monthly totals of the year just completed (2006). MYOB Cashbook zeros the balances of all your accounts as of the beginning of the new financial year except for bank account balances. Unreconciled transactions are still be available in Bank Reconciliation. MYOB Cashbook does not touch any entries made in the new financial year. User Guide 149

150 C H A P T E R 6 Other functions Managing your password Managing your password You can use MYOB Cashbook without setting a password, appropriate for a small business or for private accounts. If you need to ensure that only an authorised person should have access to your data, you can specify a password that must be entered before MYOB Cashbook will open your cashbook file. PASSWORD PROCEDURES To create the password, below To change the password, page 151 To delete the password, page 152 To create the password You can protect your MYOB Cashbook data by creating a password, using up to ten characters and combining numbers and letters as you choose. Passwords are not casesensitive. 1 Go to the Setup menu and choose Change Password. The Change Password window is displayed. 2 Enter the password you wish to use in the New Password field. 3 Re-enter the same password in the Repeat New Password field. 4 Click OK to activate the password. 5 Click OK to activate the new password. The following message is displayed. 150 MYOB Cashbook

151 Other functions Managing your password 6 C H A P T E R Your cashbook file is now password protected. The next time you go to open this cashbook file you will need to enter the password at the Open window. To change the password You can change your password at any time. You can use up to up to ten characters. 1 Go to the Setup menu and choose Change Password. The Change Password window is displayed. 2 Enter the current password in the Current Password field. 3 Enter the new password you want to use in the New Password field. 4 Re-enter the new password again in the Repeat New Password field. 5 Click OK to activate the new password. The following message is displayed. User Guide 151

152 C H A P T E R 6 Other functions Managing your password Your password has been changed. The next time try to open this cashbook file you will need to enter your new password in the Open window. To delete the password If you set up a password to protect your MYOB Cashbook data, follow the instructions below to remove it. 1 Go to the Setup menu and choose Change Password. The Change Password window is displayed. 2 Enter the current password in the Current Password field. 3 Leave the New Password and Repeat New Password fields blank. 4 Click OK to remove the correct password. The following message is displayed. The password has been removed. 152 MYOB Cashbook

153 Other functions Setting preferences 6 C H A P T E R Setting preferences MYOB Cashbook allows you to change some of the ways in which it operates, so you can tailor it to the way you work. To set your preferences 1 Go to the Setup menu and choose Preferences. The Preferences window appears. 2 Click the General Preferences tab and specify your settings. Field Year End Date Type of Data Entry Use Goods and Services Tax Lock Periods up to and including Description This date is the last day of the current financial year. Specify how you want to enter transactions. Mark to automatically calculate the Goods and Services Tax for coded transactions. Mark to lock a defined period and then choose the period from the drop-down list. This prevents you from mistakenly entering a transaction dated on or before that period. Field Record Quantities Record Quantity Budgets Description Mark to record actual quantities for non-monetary values, such as livestock. Mark to record expected quantities for non monetary values in Maintain Budgets, such as livestock. User Guide 153

154 C H A P T E R 6 Other functions Setting preferences Field Maximum length of Account Code Provide support for an additional Sub-code Number of digits for Sub- Code Description Use up to 6 characters for your account code. Use sub-codes in your chart of accounts. Use up to 2 characters for your sub-codes. Field Length of Transaction Description Length of Account Description Description Use up to 75 characters to describe a line in the Description field. Use up to 75 characters to describe a line in the Description field. 154 MYOB Cashbook

155 Other functions Setting preferences 6 C H A P T E R 3 Click the Goods and Services Tax tab and specify your settings. Field Standard GST Accounts GST Adjustments GST Rates Description Define the account codes for Output Tax and Input Tax. Set the account codes for the GST Adjustment accounts. Ensure GST Rate 1 is set to (percent). As there is only one GST rate, ensure that all other GST Rate are set to 0. User Guide 155

156 C H A P T E R 6 Other functions Setting preferences 4 Click the Systems Preferences tab and specify your settings. Field Show the Welcome screen each time MYOB Cashbook starts Prompt to Backup when closing cashbook Prompt to Exit MYOB Cashbook Confirm data entry with <Enter> key Skip to next field after <F7> Path where Cashbook reside Description The Welcome screen will appear each time you start MYOB Cashbook. MYOB Cashbook will prompt you to back-up when closing cashbooks. MYOB Cashbook will ask you to confirm when exiting the program. Skips to next field only after you press the enter key. Skips to next field only after pressing F7. (F7 deletes after cursor) This indicates where all cashbooks are saved. 5 Click OK. 156 MYOB Cashbook