7th Australian Edition - download.e- . In MYOB Software For Dummies, Veechi draws on her experience

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  • 7th Australian Edition

    MYOB Software

    FOR

    DUMmIES

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  • 7th Australian Edition

    MYOB Software

    FOR

    DUMmIES

    by Veechi Curtis

    Wiley Publishing Australia Pty Ltd

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  • MYOB Software For Dummies, 7th Australian EditionPublished by Wiley Publishing Australia Pty Ltd 42 McDougall Street Milton, Qld 4064www.dummies.comCopyright 2012 by Wiley Publishing Australia Pty Ltd

    National Library of Australia Cataloguing-in-Publication data:

    Author: Curtis, Veechi.

    Title: MYOB Software For Dummies / Veechi Curtis.

    Edition: 7th Australian ed.

    ISBN: 978 1 7421 6998 9 (pbk.)

    Notes: Includes index.

    Subjects: M.Y.O.B. (Computer file)

    Accounting Computer programs.

    Small business Accounting Computer programs.

    Dewey Number: 657.0285536

    All rights reserved. No part of this book, including interior design, cover design and icons, may be reproduced or transmitted in any form, by any means (electronic, photocopying, recording or otherwise) without the prior written permission of the Publisher. Requests to the Publisher for permission should be addressed to the Contracts & Licensing section of John Wiley & Sons Australia, Ltd, 42 McDougall Street, Milton, Qld 4064, or email auspermissions@wiley.com.

    Cover image: iStockphoto.com/Rudyanto Wijaya

    Screen captures from MYOB reproduced with permission. Copyright 2011 MYOB Technology Pty Ltd. MYOB is a registered trademark of MYOB Technology Pty Ltd and its affiliates.

    Microsoft Excel screenshots reprinted with permission from Microsoft Corporation.

    Typeset by diacriTech, Chennai, India

    Printed in China by Printplus Limited

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    Limit of Liability/Disclaimer of Warranty: THE PUBLISHER AND THE AUTHOR MAKE NO REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE ACCURACY OR COMPLETENESS OF THE CONTENTS OF THIS WORK AND SPECIFICALLY DISCLAIM ALL WARRANTIES, INCLUDING WITHOUT LIMITATION, WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE. NO WARRANTY MAY BE CREATED OR EXTENDED BY SALES OR PROMOTIONAL MATERIALS. THE ADVICE AND STRATEGIES CONTAINED HEREIN MAY NOT BE SUITABLE FOR EVERY SITUATION. THIS WORK IS SOLD WITH THE UNDERSTANDING THAT THE PUBLISHER IS NOT ENGAGED IN RENDERING LEGAL, ACCOUNTING, OR OTHER PROFESSIONAL SERVICES. IF PROFESSIONAL ASSISTANCE IS REQUIRED, THE SERVICES OF A COMPETENT PROFESSIONAL PERSON SHOULD BE SOUGHT. NEITHER THE PUBLISHER NOR THE AUTHOR SHALL BE LIABLE FOR DAMAGES ARISING HEREFROM. THE FACT THAT AN ORGANISATION OR WEBSITE IS REFERRED TO IN THIS WORK AS A CITATION AND/OR A POTENTIAL SOURCE OF FURTHER INFORMATION DOES NOT MEAN THAT THE AUTHOR OR THE PUBLISHER ENDORSES THE INFORMATION THE ORGANISATION OR WEBSITE MAY PROVIDE OR RECOMMENDATIONS IT MAY MAKE. FURTHER, READERS SHOULD BE AWARE THAT INTERNET WEBSITES LISTED IN THIS WORK MAY HAVE CHANGED OR DISAPPEARED BETWEEN WHEN THIS WORK WAS WRITTEN AND WHEN IT IS READ.

    Trademarks: Wiley, the Wiley logo, For Dummies, the Dummies Man logo, A Reference for the Rest of Us!, The Dummies Way, Making Everything Easier, dummies.com and related trade dress are trademarks or registered trademarks of John Wiley & Sons, Inc. and/or its affiliates in the United States and other countries, and may not be used without written permission. All other trademarks are the property of their respective owners. Wiley Publishing Australia Pty Ltd is not associated with any product or vendor mentioned in this book.

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  • About the AuthorVeechi Curtis loves to teach and communicate with others (just try to stop her talking!). Shes passionate about small business, and loves helping people realise their dreams and succeed.

    Born in Scotland, Veechi attended university in Bathurst, New South Wales, where she completed her degree in Accountancy and Business Management. She has been an MYOB Certified Consultant for more than fourteen years, training hundreds of businesses in how to make MYOB software work for them. As a journalist, she has written for many publications including Australian PC World, Australian Personal Computer, Australian Reseller News and CCH Australia Limited, and has also been a columnist for The Sydney Morning Herald.

    Running a business in theory is very different from running a business in practice. In MYOB Software For Dummies, Veechi draws on her experience of running her own business over the past fifteen years, as well as her experience in acting as a director on several boards of local businesses and community groups.

    Veechis first book was the bestselling Making the Most of MYOB Business Software, which is now in its ninth edition. Veechi is also the author of the Australian edition of Small Business For Dummies.

    Veechi has three children and lives with her husband in the beautiful Blue Mountains of New South Wales.

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  • DedicationTo Mum, whose courageousness and generosity is an example to live by.

    Authors AcknowledgmentsAs with most things in my life, this book was a team effort. Without my energetic and zany family to encourage me and keep me laughing, Im sure the first few pages would still be languishing, alone, on my computer. Extra special thanks also go to my husband, John, for his daily jokes and cryptic silliness. (Transforming accounting into a light-hearted subject can be quite a challenge.)

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  • Publishers AcknowledgmentsWere proud of this book; please send us your comments through our online registration form located at http://dummies.custhelp.com.

    Some of the people who helped bring this book to market include the following:

    Acquisitions, Editorial and Media Development

    Project Editor: Maryanne Phillips

    Acquisitions Editor: Rebecca Crisp

    Editorial Manager: Hannah Bennett

    Proofreader: Liz Goodman

    Production

    Layout and Graphics: Wiley Composition Services, Wiley Art Studio

    Cartoons: Glenn Lumsden

    Indexer: Veechi Curtis

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  • Contents at a GlanceIntroduction ................................................................ 1

    Part I: The Building Blocks ........................................... 7Chapter 1: Starting from Scratch ..................................................................................... 9Chapter 2: Accounts, Customers and Suppliers .......................................................... 29

    Part II: Everyday Activities ........................................ 53Chapter 3: Making Sales .................................................................................................. 55Chapter 4: Here Comes the Money ................................................................................ 79Chapter 5: There Goes Your Cash! .............................................................................. 107Chapter 6: Purchases and Supplier Payments ........................................................... 135Chapter 7: Reconcile Yourself ..................................................................................... 165Chapter 8: Managing Items .......................................................................................... 185Chapter 9: Saving Money on Payday .......................................................................... 215

    Part III: Moving On ................................................. 255Chapter 10: Looking Good with Forms ....................................................................... 257Chapter 11: Reporting for Business ............................................................................ 277Chapter 12: The Gist of GST ........................................................................................ 293Chapter 13: Making Electronic Payments .................................................................. 317Chapter 14: Looking After Your Files .......................................................................... 337Chapter 15: Understanding Your Business ................................................................ 361Chapter 16: Keeping Your Company File in Top Shape ............................................ 375

    Part IV: The Part of Tens ......................................... 393Chapter 17: Ten (Well, Almost) Perilous Pitfalls ....................................................... 395Chapter 18: Ten Tricks to Speed Up Your Work ........................................................ 401Chapter 19: Ten Tricks (Eight, Actually) to Starting a New Year ............................. 411Chapter 20: Ten Secrets to Upgrading ........................................................................ 419Appendix: MYOB in the Clouds ................................................................................... 431

    Index ..................................................................... 437

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  • Table of ContentsIntroduction ................................................................ 1

    About This Book ............................................................................................. 1How to Use This Book ................................................................................... 2Conventions Used in This Book .................................................................... 2Diffe