© Copyright Software Publications 2011 – Reconcile & Monitor Accounts Receivable using MYOB AccountRight v19 - i

RReeccoonncciillee aanndd MMoonniittoorr AAccccoouunnttss RReecceeiivvaabbllee uussiinngg MMYYOOBB AAccccoouunnttRRiigghhtt vv1199

Copyright Notice:Copyright Notice:Copyright Notice:Copyright Notice: © Copyright 2011 - Software Publications. All rights reserved.

No part of this material may be reproduced or copied in any form or by any means (graphic,

electronic or mechanical, including photocopying or by information retrieval systems) without

permission in writing from Software Publications.

Written by:Written by:Written by:Written by: Marian Brown Dip T [Commerce], MICB

Cert IV Workplace Training and Assessment, Cert IV in Financial Services [Bookkeeping]

MYOB Certified Consultant for 16 years

MYOB Accredited Author, MYOB Accredited Trainer

BAS Agent

MBS Training Services Pty Ltd

Updated by:Updated by:Updated by:Updated by: Leanne Berry, MICB

Cert IV Workplace Training and Assessment, Cert IV in Small Business Management,

Cert IV in Frontline Management, Cert II in Quality Management

MYOB Certified Consultant for 6 years

MYOB Accredited Trainer, Member MYOB Partner Advisory Group

BAS Agent

The Numbers Game

leanne@thenumbersgame.com.au

www.thenumbersgame.com.au

Publishers:Publishers:Publishers:Publishers: Software Publications Pty Ltd [ABN 75078026150] Head Office – Sydney Unit 10, 171 Gibbes Street Chatswood NSW 2067 Phone: 1 800 146 542 Web address: www.softwarepublications.com.au

ISBN: 978-1-921885-05-1

Printed January 2011

FNSICACC307B FNSICACC307B FNSICACC307B FNSICACC307B Reconcile and monitor Reconcile and monitor Reconcile and monitor Reconcile and monitor accounts receivableaccounts receivableaccounts receivableaccounts receivable

ii - © Copyright Software Publications 2011 - Reconcile & Monitor Accounts Receivable using MYOB AccountRight v19

Copyright/Trademark Information:Copyright/Trademark Information:Copyright/Trademark Information:Copyright/Trademark Information: MYOB®, MYOB AccountEdge®, MYOB AccountRight™, MYOB AccountRight Plus™, MYOB

BusinessBasics™, MYOB FirstEdge®, MYOB M-Powered®, MYOB M-Powered Services™, MYOB M-

Powered Bank Statements™, MYOB M-Powered Invoices™, MYOB M-Powered MoneyController™,

MYOB M-Powered Payments™, MYOB ODBC Direct™, MYOB PowerPay®, MYOB AccountRight

Premier® and MYOB AccountRight Enterprise® are registered trademarks or trademarks of MYOB

Technology Pty Ltd and their use is prohibited without prior consent. Ceedata, Solution 6 MAS and Xlon

are registered trademarks or trademarks of Solution 6 Holdings Limited, a member of the MYOB group.

Bpay® is a registered trademark of Bpay Pty Ltd, ABN 69 079 137 518.

MasterCard® is a registered trademark of MasterCard International Inc.

Microsoft, Access, Excel, Internet Explorer, Office, Outlook, Smart Tags, Windows and Word are

registered trademarks or trademarks of Microsoft Corporation in the United States or other countries.

VISA® is a registered trademark of Visa International Service Association.

Other products mentioned may be service marks, trademarks or registered trademarks of their respective

owners.

Screen captures from MYOB AccountRight Plus v19 reproduced with permission.

Limitations of Liability:Limitations of Liability:Limitations of Liability:Limitations of Liability:

This material is designed to provide basic information on how to use MYOB AccountRight/AccountRight

Plus v19. Because business circumstances can vary greatly, the material is not designed to provide specific

GST or business advice for particular circumstances. Also, because aspects of the GST are complex and

detailed, the material is not designed to comprehensively cover all aspects of the GST. Further, the laws

implementing GST and rulings and decisions under those laws may change.

Before you rely on this material for any important matter for your business, you should make your own

enquiries about whether the material is relevant and still current, and whether it deals accurately and

completely with that particular matter; and as appropriate, seek your own professional advice relevant to

that particular matter.

This information is for the general information of MYOB clients and is not to be taken as a substitute for

specific advice. Consequently Software Publications, Marian Brown and Leanne Berry will accept no

responsibility to any person who acts on information herein without consultation with Software

Publications, Marian Brown and Leanne Berry.

The information in this book is relevant to MYOB AccountRight Plus v19. Earlier or later versions of

MYOB software could change the instructions in this workbook.

Please note:

The information in this workbook is accurate at the time of printing [January 2011] only. Because

legislation and associated websites are constantly changing, urls and screen dumps of websites in this

workbook may have changed.

© Copyright Software Publications 2011 – Reconcile & Monitor Accounts Receivable using MYOB AccountRight v19 - Unit 5 - 55

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���� Learning OutcomesLearning OutcomesLearning OutcomesLearning Outcomes

On completion of this unit you will be able to:

� customise a Service Invoice; and � print Invoices.

This unit covers the following required skills:

- computing skills

- attention to detail

- knowledge of relevant regulations

In this unit, you will use the month you used in Unit 4.

56 – Unit 5 – Reconcile & Monitor Accounts Receivable using MYOB AccountRight v19 - © Copyright Software Publications 2011

ATO guidelines on valid tax invoices can be downloaded from the following website.

A valid tax invoice is a document that meets all of the following requirements:

• it is issued by the supplier, unless it is an RCTI (in which case it is issued by the recipient)

• it contains enough information to enable the following to be clearly identified

o the supplier's identity and ABN

o a brief description of what is sold, including the quantity (if applicable) and the price of what is sold

o the extent to which each sale is a taxable sale - this can be shown separately or, if the GST to be paid is exactly one-eleventh of the total price, as a statement such as ‘total price includes GST’

o the date the document is issued

o the amount of GST (if any) payable for each sale

o if the document was issued by the recipient and GST is payable for any sale - that the GST is payable by the supplier

o that the document was intended to be a tax invoice or an RCTI if it was issued by the recipient.

In addition, if the total price of the sale is at least $1,000 or if the document was issued by the recipient, the recipient's identity or ABN must be able to be clearly identified.

Your advertised price should be TAX-INCLUSIVE.

RCTI

In some cases [eg farmers], a Recipient Created Tax Invoice [RCTI] will be created by the receiver of the goods rather than the supplier. This invoice will have the same requirements as for tax invoices above noting the additional requirements for RCTI’s.

© Copyright Software Publications 2011 – Reconcile & Monitor Accounts Receivable using MYOB AccountRight v19 - Unit 5 - 57

���� Creating aCreating aCreating aCreating annnn InvoiceInvoiceInvoiceInvoice for Real Estate Maintenancefor Real Estate Maintenancefor Real Estate Maintenancefor Real Estate Maintenance

Matt Brown has received a job to repair a leaking roof at 3/43 Hume Street, Harristown.

The completed Job Card looks like this:

JOB CARD Number: 4

Job Location:

3/43 Hume Street

Harristown

Date:

15/month you are using

Job Details:

Repair leaking roof.

Cost of Materials: $180.00 Labour: 2 hours Customer to be Billed:

Ray Brown Real Estate

Job done by:

Matt

Job has been completed. Signature: S Fielding Date: 15/month you are using

Enter the above invoice details. [Invoice Total = $326.00]

DO NOT RECORD.

���� PRINTOUT 5PRINTOUT 5PRINTOUT 5PRINTOUT 5A A A A Service InvoiceService InvoiceService InvoiceService Invoice

To print a copy of the invoice above:

(i) Select the “Print” button in the bottom left-hand corner. The following will be displayed.

(ii) Select “Preview” and “OK” to record the invoice.

You are being asked which Invoice Form you want to print this invoice on. You can also Preview the invoice before printing.

58 – Unit 5 – Reconcile & Monitor Accounts Receivable using MYOB AccountRight v19 - © Copyright Software Publications 2011

(iii) Select “INCSIPLN-2009” [double-click] from the list displayed.

(iv) The selected invoice could look like this [top section only].

(v) The invoice doesn’t look like an invoice you would like to send to a customer does it?

(vi) Select “Print”, then “Print” to print a copy so that you can design a new invoice based on this template.

Look at the printed invoice.

This is a template which you need to customise. This invoice should never

be sent to the customer.

You will learn some simple customising on the following pages.

Click on “Close” to return to the Command Centre.

© Copyright Software Publications 2011 – Reconcile & Monitor Accounts Receivable using MYOB AccountRight v19 - Unit 5 - 59

���� Let’s pLet’s pLet’s pLet’s practise some Customising Techniquesractise some Customising Techniquesractise some Customising Techniquesractise some Customising Techniques [optional topic][optional topic][optional topic][optional topic]

Before customising your invoice, you will practise some customising techniques.

(i) In the “Sales” Command Centre, select “Print/Email Invoices”.

(ii) In “Advanced Filters”, check that the “Sale Type” selected is “Service”. Your Advanced Filters will look like this.

(iii) Click on the Search Icon to the right of “Pre-Printed Invoice” to display a list of invoices available.

(iv) Point to “INCSIPLN-2009” and double-click. [This is the invoice you are

going to customise.]

(v) Select “Customise”.

Your window is displayed on the following page.

Your Invoice will be printed on whatever “default” invoice is selected here or selected in “Selling Details” on the Customer’s Card.

60 – Unit 5 – Reconcile & Monitor Accounts Receivable using MYOB AccountRight v19 - © Copyright Software Publications 2011

(vi) Scroll down to view the bottom of your invoice.

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DON’T MISS THIS STEP: ��������

(vii) Click on “Save Form As”.

(viii) Key in the following, replacing “Leanne B” with your name.

(ix) Select “OK” to return to your invoice. In some learning environments, you may not be able to save your

invoice template.

The information that you entered in your Sales Invoice on Page 57, has been printed on this MYOB Service Invoice TEMPLATE.

It is now your task to customise this template to meet the needs of your

business. Scroll back to the top of the template and practise the following

techniques.

���� Introducing the Forms TOOL BARIntroducing the Forms TOOL BARIntroducing the Forms TOOL BARIntroducing the Forms TOOL BAR

(i) Click this field to add new data field or columns.

The following window is displayed:

(ii) Scroll down to view all the data fields that can be added to your invoice.

(iii) Select “Cancel” to return to the Tool Bar.

You can select the fields to add. You can select if the data is to be printed on “Every Page” or “Last Page”. You can delete a field, and then add that field again from the list.