Top MYOB questions and answers

MYOB Certified Consultant Heather Smith has answered thousands of MYOB user’s questions over the years. Here she shares a few of them.

Q. Heather, when reconciling the bank statements back in February there was a deposit that came in and I didn’t know where it came from so I entered a journal entry as an income to be queried. I have now found the sale entry and I need to mark it as being paid but I have already reconciled the bank statement. Is there a way to amend this to mark the invoice as being paid and to replace the already reconciled journal entry? Simone.

A. Simone, delete the dummy journal entry that you processed as income to be queried. Enter the correct sales transaction. You now need to re-reconcile the single entry into the February bank account. Go to the Banking Command Centre -> Reconcile Accounts. Make a note of the date it was last reconciled on. Choose the date is was reconciled in February, perhaps 28 February 2011? And tab through. Can you see the new sales entry? Enter a tick beside the new sales entry, and change the New Statement Balance field to match the Calculated Balance Field. The Out of Balance field should be zero, and you need to reconcile the account again. Once you have done that, enter the date it was last reconciled on, that you made a note of earlier in the exercise. Do not check any transaction; just ensure the New Statement Balance field matches the Calculated Balance Field. The Out of Balance field should be zero. Reconcile the account again. Heather

Q: Heather, I am currently using MYOB Business Basics v1.1. This application, as you know, does not allow creditor entries. I want to upgrade to Account Right Standard if possible. How do I go about doing this and not losing the product already purchased? Norma.

A: Norma, your existing Business Basics MYOB data file can be upgraded to MYOB AccountRight Standard. The purchase price of the upgrade is $309 and you can purchase that through me if you like. To buy MYOB AccountRight Standard as a standalone product is $429. So your existing Business Basics software license saves you $120. The process is quite straightforward. You install MYOB AccountRight Standard on your PC, locate the existing Business Basics data file, which will have an extension *.dat, and open it into MYOB AccountRight Standard. The wizards will prompt you through the process. The only tricky thing is to save the new file in a safe area, like the finance directory, and open the new upgraded data file, rather than the old Business Basics data file. You will also need to upgrade the invoice templates; again the wizard will guide you through that, Heather

Q: Heather, I have an issue where my laptop will not pick up our current invoice set-up and print...bizarre. It only works on my desktop. Kim.

A. Kim, you need to copy the invoice template (*.frm) and place it in the correct directory on your laptop. Currently the invoice template is on your desktop computer, it is in C:\(MYOB Product name e.g. Plus19)\Forms and if you look in that directory you should see your customised form. You need to copy it and place it exactly in the same directory on your laptop. It needs to be in the exact directory; otherwise MYOB will not connect with the invoice template. Heather

Q: Heather, how do I set up job numbers in MYOB? Louise.

A: Louise, go to the Menu Bar, click on Lists, click on Jobs, click on New and complete the fields.

Heather Smith is the owner of ANISE Consulting, who works closely with small business owner's senior management and boards of directors, assisting them in developing management reports that they can use and understand.

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