MYOB have the functionality to determine and analyze the profitability of a job by using the Jobs Profit and Loss Report. This is very useful when your company wants to know if doing projects for a specific customer or doing more than one project for one customer is profitable or not. However, you must bear […]
As discussed in our previous accounting topic, Accounting is always associated with the term “Debit” and “Credit”. Accounting is always known to deal with “balancing” the account debits and credits. This mean that the total debits should always equal to the total credits. Because of this, Accounting in modern times means the use of double-entry […]
When we hear the word accounting, what comes to mind is the so-called “debit” and “credit” which means “to balance” to a simple layman and also flashes of computer images, stacks of documents, a calculator, pen and paper worksheet. Accounting is not a modern-day service activity but old history dating back to 8500 B. C. […]
MYOB provides a fast and efficient method of recording money transfers between your internal bank accounts by using the Transfer Money window under the Accounts main command centre as per screenshot below: If you also set up your petty cash fund as a Bank account, you can also transfer using this option to access the […]