Complete Guide to Managing Sales Orders In MYOB

When it comes to everyday processes, managing sales orders correctly can play an important part of data accuracy in your MYOB software. If you are looking for a guide to shed light to what you may have been neglecting or how you could better manage your self orders, this is the right place to come to!

Sales Order Recording

When you receive orders from your customers, you can choose to record them in 2 different ways. You can do so by creating a sales order first and subsequently converting the sales order into an invoice or simply create the invoice and skip the first process. However, do note that the method you choose can sometimes have consequences on when your software records the sales information into your general ledger account, since that’s only updated when the sales invoices are saved and not the orders. It is a recommendation that you start by recording sales orders since it helps users track the merchandise delivery process. To do so, look for your Enter sales option via the Sales command centre in your MYOB software.

Once you have opened up the enter sales window, look for the field that says INVOICE on the top left of your window and click on the arrow next to it so that you can choose the ORDER option. Now you can enter all the sales order details and assign reference numbers.

Converting Sales Orders to Credit Sale

In order to accomplish this, look for your sales order through the Sales register function in your Sales Command Centre. Search for the customer of choice and choose use customer once you have found the right one. Refine your search until you find the sales order you want and click on it. You will then be able to select Change to invoice. Make sure to click record once all the relevant details are correct.

Part Cash Part Credit Sale Recording

To do this, you will need to record the full amount of your sales, and then have your cash receipts recorded separately under the Receive payments option. Then using the receive payments window, select either deposit to account or group with undeposited funds. To perform the latter option, choose the relevant customer and display the invoices your customer has yet to pay. Enter the amount of payment you have received and choose the payment method before opening Applied payment details so that you can manually enter receipt information. You can then assign the cash receipt or reference number you want to use and find the invoice you want to apply it to.

Accounts Receivable Collection

Collect receivables from your customers and record the receipt of payment from your customer, as well as the money deposited into the bank. To record receipt from customers, look for the receive payments option from your sales command centre and choose the receive payment option to fill in relevant details. You can then either choose to deposit to your bank account for general ledgers or batch them and bank them in one go through group with undeposited funds. If you choose the latter, it will be recorded and you will be able to select it when you are preparing a deposit slip.

Sales Returns

If your customer returns your inventory, you will need to record sales returns by first creating a credit note through an invoice with negative amounts under the ship field and then applying it to a sales invoice. To begin creating, look for the enter sales function and choose invoice. Enter the relevant details into your invoice and make sure to leave the amount under your ship section as negative. Once you are done, click on record. Now apply the credit note to an invoice by choosing sales register under the sales command centre.

These are some of the methods in which you can perform sales order management. Keep these steps in mind and constantly practise- soon, you will be able to manage and sort through your sales orders with ease without panicking and fumbling.

Beginner’s Guide to: Editing Transactions In MYOB

Transactions are a part of the essential information you need recorded accurately in MYOB. You will rely on this data to keep everything on track, so it’s imperative that you know just exactly how to enter and edit them in your MYOB software. If you are new to MYOB, here is a little guide to help you gain your bearings with transactions:

Set Up

In order to create more flexibility for transaction editing ( like reversing transactions), you will first have to make sure that your MYOB software can accommodate it by tweaking your preferences. Under your MYOB set up menu, look for preferences and the security tab. Untick the Transaction can’t be changed, must be reversed option so that you will be able to directly edit them.

Find Transactions

Before you even begin editing transactions, you are required to find them. This can easily be done through the Find Transactions option or your Bank Register option in your MYOB software. Refine your search accordingly until you are able to locate the right transaction record and edit by clicking on them.

Non Editable Fields

While you are able to make changes to transactions, there are certain elements that cannot be changed. For example: Cash receipt payments. Your next best alternative is to access your Receive payment window and choose to delete receipts before re-entering by selecting the edit menu and locating the delete payment option. You can enter details by using the Sales Command Centre and re-typing in your transaction.  

Modifying Customer name

If your invoice has no transaction applied just yet but require a change in customer, choose the recorded invoice through the sales register and open the customer field. You will then need to delete the wrong invoice and manually record again with the right customer field selected. Make sure to print a hardcopy before deletion so you can re-enter accurate details. Make sure to use the Delete sale option and remove the invoice through the edit menu after you have done so.

If there are transactions applied to the invoice and you have to modify customer names, locate your transactions and display the invoice you need. Look for your edit menu and choose delete sale after you are done deleting the applied cash receipts before performing the steps above for modification with no transactions applied.

Keep these steps and tips in mind so that you can apply them to your own financial practises. By consistently making sure to perform these steps, you will be able to better your data accuracy, thereby eliminating the risks of miscalculation as well as being able to make better informed decisions based on reliable data.

5 Step Beginner Guide to MYOB Purchase Orders- What You Need to Know

MYOB purchase orders are important to get right as they contribute to data accuracy and workflow. If you are a beginner, there are certain functions you have to know in order to fully utilise and benefit from using MYOB. Here’s a 5 step beginner guide to MYOB purchase orders to get you started:

  1. Recording Purchase Orders

In order to start recording the purchase orders you have received, open up your Purchases command centre and look for the enter purchases option. Look for the top left corner and choose the arrow next to the field so that you can choose ORDER instead if it has not been chosen by default. You will then be prompted to fill in information so make sure to do that as concisely as you are able, according to the information you have currently at hand. Choose the supplier you need, the area it is shipped to, make sure the terms are correct and tweak the purchase number if you are required. Confirm data accuracy before clicking on record.  

  1. Credit Purchase Conversion

Convert your purchase order into credit purchases by looking for the Purchases Register in your MYOB software. Select the Orders tab so that you can view the purchase orders list you have created and choose the suppliers you want to display. Select the supplier you want and look for the specific purchase order you need from the supplier. After which, select it and choose the change to bill option so that it can be converted. You can then record according to what you need and make sure the information input is right.

  1. Accounts Payable Settlement

For accounts payable, look under the purchases command centre again and choose the Pay Bills option. This will allow you to record supplier payment- choose the account you want your payment to be recorded on. If it is a direct payment from your bank account (payment through credit cards or cheques), you can choose the pay from account option. If you want your payment to be grouped with a group of electronic payments, look for the Prepare electronic payment option under the Banking Command centre instead.

  1. Create Supplier Note

When it comes to purchase returns, you will first have to create a supplier note/debit note. To begin doing so, look for your Purchases Command Centre on your MYOB software. Choose enter purchases and look for the BILL field option. Make sure to enter the details of your purchase return and indicate negative amounts under the Bill section of the window that pops up for you. Once you are done with it, check to make sure everything is in order and record it.

  1. Apply Supplier Note

After creating your purchase return supplier note, you will now have to apply it to a purchase invoice that is still outstanding.  Look under the Purchases Command Centre and choose Purchases Register. Choose the tab that states returns and debits so that you can access your supplier note and choose the relevant supplier. You can then be able to locate the supplier you want to use and look for the PO# that you want to apply. Choose it and click apply to purchase so that you can apply it. You will then have to finalise it by choosing record.

These are some of the most crucial things to know about MYOB purchase orders. Make sure to practise and get acquainted with the procedures so that you can easily maintain data accuracy in your everyday projects!

5 Benefits Of Purchasing Through MYOB Resellers

The purchase of MYOB softwares through MYOB resellers have become a common practise today, for good reason too. If you are considering purchasing MYOB softwares for yourself, here are 5 reasons why you should consider purchasing it from an officially recognised MYOB reseller instead:

  1. Access

Depending on the region your corporation resides in, it can sometimes be a challenge when you require access to certain MYOB products or software. By buying through resellers, you can resolve the problem of access and enjoy an ease of convenience when procuring important resources. You can also gain advice and recommendations in real time when communicating with MYOB resellers and enjoy fast response rates without timezones getting in the way.

  1. Product Demonstration

It can be awfully daunting when you are unable to visualise how the MYOB software works and do not have the luxury of time to experiment for yourself though the free trial versions. By making arrangements with your nearest MYOB reseller, you can head down to their physical location for product demonstrations conducted by an experienced reseller so that you can better gauge how user friendly the MYOB software of your choice could be. You can also take the opportunity to scout out MYOB softwares that are better fitting when it comes to your requirements.

  1. Expenses

When purchasing MYOB softwares for corporate purposes, you may find yourself shelling out some big amounts to do so. When you buy through MYOB resellers, they could either offer discounts to encourage SMEs in understanding and using MYOB software or provide you advice on how you can actually save up. For example, the claiming of PIC for meeting certain criterias and other important tips that you can benefit from.

  1. Network

MYOB resellers are usually connected to a wide variety of like-minded individuals like certified MYOB partners, MYOB training agencies, MYOB professional networking groups and more. With their advice and help, you can begin touching bases with other professionals who are also making use of MYOB for assistance.

  1. Training

Some MYOB Resellers also go a step and beyond by not only providing MYOB softwares for sale, but by also conducting MYOB training courses that are catered for professionals to attend. If you know an MYOB reseller, chances are that they are also certified MYOB specialists that can arrange and conduct training sessions with you, or that they know and are capable of recommending training course sources to you. This can greatly help since certain training agencies can provide discounts if you are liaising with them through a certified MYOB reseller, and you won’t have to worry about finding a reputable training agency by yourself without knowing what to expect.

These are just some of the benefits purchasing MYOB softwares from MYOB resellers can bring. Depending on your region and depending on the MYOB reseller, there can be additional advantages that are granted to customers who choose to buy from them so make sure to enquire before you confirm your MYOB purchase.

5 MYOB Sales Features To Try Out

MYOB softwares come equipped with various features and functions that greatly benefit their users- especially in terms of data and keeping track of essential areas like inventory, invoices and more. But in order to fully benefit from the software, there are actually 5 MYOB sales features that everyone is highly recommended to try out:

  1. Customer Cards

Creating customer cards is one of the most useful and standard of all MYOB sales features that are available. Look for the card file command centre and choose the Cards list to open up a window. Choose new and choose your customer from your card type list, before you go ahead with designating the card either as an individual or corporation. Type in customer names and press TAB so that additional fields are enabled- you can then enter identification codes in card ID fields and other relevant information. Set up your selling details, tax information, credit terms and payment details before closing the window.

  1. Changing quotes

To change quotes to either orders or invoices, click on the sales register option under the sales command center and choose the quotes tab. You can then choose to change to order or change to invoice to pull up a sales window and make relevant changes. Once you have completed those changes, choose record so that the new order/invoice will be created.

  1. Receiving Payments

For payments against invoices, one of the most popular MYOB sales features to rely on is the receive payments window. Record customer payments using the receive payments window for one or more outstanding invoices or enter customer payment details through the receive money window instead. If you have several payments from customers but don’t wish to record detailed information, then you can make use of the Bank Register window instead.

  1. Reversing Sales

In order to reverse the sales, your transaction should be unchangeable. The “transaction cannot be changed, only reversed” option must be selected- you can do so in the preferences window, right in the security tab.  Look for the edit menu and choose the reverse sale option once you have made the relevant changes. A credit note should appear inside your sales window- your invoice amount should be negative. Choose record reversal and another customer credit should appear for you.

  1. Writing Off Bad Debts

Locate the enter sales option in the Sales command centre to open up the Sales window and enter the details of your customer. Choose layout and make the selection for Miscellaneous. You will then be able to locate the description field and look for the type of transaction description. Under the account number field, choose or manually type the bad debts account. Type bad debt amounts as negative digits and input required tax codes before choosing record. You can then apply credit against the original invoice by going to the settle returns and credits window.
Experiment and familiarise yourself with these 5 MYOB sales features today and watch how much of a difference it can make to your daily routines. The more you practise using these sales features, the better and more convenient data tracking can be.

5 MYOB Support Sources For Every MYOB Beginner

It is not uncommon that new MYOB beginners find themselves in need of extra help upon purchasing their MYOB software. For all it’s usefulness and capabilities, MYOB can seem terribly daunting at first glance. But with it’s user friendly interface, users will be able to facilitate themselves well enough by experimenting with it’s layout. If you are a new beginner, here are some additional MYOB support sources that you can fall back on whenever necessary:

  1. MYOB Resellers

For MYOB beginners who are in need of MYOB products and running on a limited budget, MYOB resellers are the greatest source of support and assistance you can get. Not only are these people able to provide you with the software and resources at affordable rates, you can also take the opportunity to ask them for trial versions and advice.

  1. MYOB Training

One of the best MYOB support sources would be MYOB training courses that are available in the user’s area. A good recommendation would be learning level based MYOB training courses where step by step hands on practices are included. Beginners can choose to attend MYOB training courses conducted by certified MYOB experts to better understand not only the functions but also how to apply MYOB features to real world scenarios.

  1. MYOB Services

Since every software has it’s vulnerabilities in terms of bugs and other areas that require troubleshooting, the official MYOB development team has ensured that no one will be left to flounder in events of problems. Users can seek support through their technical team by calling and emailing to identify and troubleshoot issues, or even seek on site support if they require so! Depending on regions and countries, MYOB support sources vary but generally tend to have fast responding rates.

  1. MYOB Blogs/Forums

For MYOB beginners who need additional help, MYOB blogs and forums can be some of the most reliable MYOB support sources to seek out. Not only will beginners begin to expand their social circles as they network with other like-minded MYOB professionals, they can also get advice and additional practice materials without having to overspend. In addition, certain MYOB training agencies also regularly produce additional MYOB tutorials for beginners to try out in their own spare time even after they have attended MYOB training courses.

  1. Upgrading or Updating

It can be difficult to choose which MYOB software to upgrade to when the time comes for it, and not knowing what to pick can be awfully daunting. Thankfully enough, MYOB’s official site allows MYOB beginners to make use of their email address or serial number and log into MYOB online products/services. MYOB will then provide MYOB beginners with tailored recommendations to pick from.

MYOB Essentials VS MYOB Premier

It’s no debate when it comes to the usefulness MYOB softwares equip it’s users with. However, the question of which exactly the most beneficial MYOB software is remains still with no definite answers. MYOB Essentials or MYOB Premier- two of the most common MYOB softwares used by corporate sectors of today. Which is truly the most beneficial out of these options? Find out more here:

MYOB Essentials (Unlimited Payroll)

When it comes to price, MYOB Essentials is generally a more affordable option compared to other MYOB software options. If you are just starting out as an MYOB beginner with a limited budget, MYOB Essentials are a more feasible option since you get a wide range of software capabilities at an affordable price. MYOB Essentials provides it’s users with crucial features and functions that are required to manage and run things smoothly, including working online, calculating/tracking GST, managing invoices or quotes, managing expenses, tracking payments, keeping track of both suppliers and customers, setting up bank feeds, calculating payroll accurately, accepting timesheets, managing inventory and more!

In addition, MYOB Essentials is easy to set up by the user and grants ease of use since they guarantee tax compliance. MYOB beginners can also find a plethora of MYOB training courses that rely on MYOB Essentials and seek help from online forums as well as video tutorials when in need. MYOB Essentials are also readily available through MYOB resellers and corporations can sometimes make use of this to save up on their expenditure.

MYOB AccountRight Premier

MYOB AccountRight Premier can be considered a step up above MYOB Essentials. MYOB AccountRight provides the same software capabilities as MYOB Essentials, with the addition of more important and convenient functions like purchase order management, working BOTH online and offline with local back ups, multiple account access, job tracking (profit and loss), Inventory management by levels and more! If you are looking for MYOB upgrades, MYOB AccountRight Premier should definitely be considered.

MYOB users may have to shell out a little more compared to MYOB Essentials but the price remains reasonable when compared to the amount of use and services they enable users with. In addition, MYOB premier is also another common MYOB software version used in MYOB training courses.

These are just some of the comparisons between MYOB essentials and MYOB premier. For a better hands on experience to facilitate your decision making, you can actually opt to go a step further by signing up for free trial versions. Base your decisions on how well you are able to use the software and how well it helps manage your data requirements based on a duration of time.

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