Question: I have loaded MYOB Accounting on my laptop and have done April to January for my nephews landscaping business. The question is how do I transfer the programme and everything I have done to his computer. I believe the registration Number etc can only be used once.
Answer: On your laptop use Windows Explorer to make a copy of your MYOB file onto a blank CD. Install MYOB onto your nephews’ computer from the MYOB software CD. Using Windows Explorer copy the MYOB file from your CD to the MYOBAccounting folder on your nephew’s computer. He’s ready to go. When you’re satisfied that your MYOB file is running properly on your nephew’s computer you can uninstall the software from your laptop if you wish. Periodically he may be asked to activate the company file – this is normal – just follow the instructions on screen. If you had already activated the file on your laptop that’s ok – you’re allowed 5 company file activations per licence. Remember to copy over all the customised forms – these live in the \Forms folder
Transferring MYOB file to another computer
Accounting for Hire Purchase
Question: How do you account for Hire Purchase from a finance company in MYOB?
Answer: I assume this is related to a purchase of a fixed asset from a local supplier.
Balance sheet accounts needed:
1. Asset account called Fixed Assets, GST code S
2. Liability account called eg: Hire Purchase – Marac Finance, GST code N-T or E
3. Liability account underneath the hire purchase a/c called Interest In Advance, GST code N-T or E
Enter a purchase from the supplier:
Line 1: the purchase price of the asset coded to Fixed Assets
Line 2: the amount of the interest on the contract coded to Interest In Advance
Line 3: a negative amount representing the amount financed, coded to Hire Purchase.
The total of the purchase may be zero if it is 100% financed, or there may be a balance if you had to pay a deposit. The deposit can be entered using Pay Bills against the purchase; then the balance of the purchase should be zero.
When paying the instalments code them all to the Hire Purchase a/c. Your accountant will make an adjustment at year end to recognise the amount of interest which has expired.
(If there is a “balloon payment” or a residual payment to be paid as in the case of some vehicle loans these days, then the procedure is much more complicated and you should enlist the assistance an MYOB certified consultant).#adp01
List of Customer Transactions
Question: I was wondering if there was a Debtors report that I could print that is similar to the “Receivables Ageing Detail Report” but also shows the clients payments against the invoices. The report would also be similar to an “Activity Statement” but includes all clients and not on individual pieces of paper.
I tried to customise the “Ageing Detail Report” by adding the “Original Amount” and “Paid to Date” fields but that doesn’t include the date of the payment, and the “Original Amount” shows as GST exclusive.
Answer: Try the Customer Ledger report. This was added in the versions that were released in 2004. The report is located in the Sales reports, in the Customer section. You can specify the date range, and the customer(s) required. The report will show all invoices, payments and credits for the selected date range.
Another one to look at is the Card Transactions report. This is located in the Card reports.#adp01
MYOB Payroll Backups
Question: I have just started with the MYOB Payroll software. I have a question just in regards to the backing up of the payroll file.
I have saved them (backed up) onto a flash stick (I also saved it onto my C drive). However when I went to open them up I couldn’t read them. It was a whole lot of gibberish! Other than the backing up I do, does the MYOB software store copies on my Hardware also? Also I have a password to open up the MYOB package, would that have anything to do with the fact that I cannot read the save timesheets etc.
Please advise.
Answer: Just as with MYOB Accounting, a backup in MYOB Payroll is a compressed, or zipped, file. You cannot open this file as it is; it needs to be restored before the information can be read.
Care needs to be taken when restoring a Payroll backup. It will overwrite your current file, so if you want to get back to how things are currently, be sure to have a backup of that current file.
To restore the backup, go into MYOB Payroll, and select Restore from the File menu at the top of the screen. Point it towards the backup you wish to restore. You will be warned that the restored data will overwrite the current data.#adp01