Here is a video training on setting up the Sales modules in MYOB Accounting
Tips
1.This step will help you set the default sales layout type that you normally use (item, service or professional) for your invoicing. Once you set this up, everytime you create a new sale, it will take the default settings set here.
Don't worry, you can still change the default sales layout when you are invoicing a customer, by clicking on the 'Layout' button found at the bottom of the 'Enter Sales' window.
2. The setup wizard also guide you to set the default credit limit and credit terms you give to your customers.
The default credit terms will apply to all the customers that you create henceforth. You only need to edit the cardfile of those that don't fall within the default.
Those cardfile that you've created earlier to this, will retain its original settings, and you need to go back to each of the cardfile to edit the credit terms or credit limit, if need be.
Aug 19, 2009
Jun 12, 2009
MYOB Setup Tutorial 1 : Create new company datafile
This video shows you how to create a new company datafile in MYOB.
This is the first section in setting up.
This is the first section in setting up.
Bank reconciliation in MYOB : Step by step procedures
Here's a video tutorial on reconciling your bank account in MYOB. Enjoy
Read also Why it is important to reconcile your bank accounts
Read also Why it is important to reconcile your bank accounts
Mar 26, 2009
Excel Tip - Inserting blank row in a list
How do you insert a blank row in a list created in Microsoft Excel?
Don't require any knowledge of programming, Visual basic, or macros or such stuff.
Here's my way, which is simple and can be done in 2 steps
Step 1: Duplicate the row number '1-8' below the last row in original list.
Step 2: Highlight all rows (1-16 in sample above) including the ones you've just added below your original list. Go to Data menu, select Sort, and choose to sort by column A.
Click OK.
The Result : Blank rows have been easily inserted.
The above tip is useful if you need to import external data to MYOB.
If you maintain your sales transactions, purchase orders, and banking transactions in Excel, you can import these transactions into MYOB Accounting.
MYOB recognises a blank row as the end of the first record and the beginning of a new record.
Cool?
Don't require any knowledge of programming, Visual basic, or macros or such stuff.
Here's my way, which is simple and can be done in 2 steps
Step 1: Duplicate the row number '1-8' below the last row in original list.
Step 2: Highlight all rows (1-16 in sample above) including the ones you've just added below your original list. Go to Data menu, select Sort, and choose to sort by column A.
Click OK.
The Result : Blank rows have been easily inserted.
The above tip is useful if you need to import external data to MYOB.
If you maintain your sales transactions, purchase orders, and banking transactions in Excel, you can import these transactions into MYOB Accounting.
MYOB recognises a blank row as the end of the first record and the beginning of a new record.
Cool?
Feb 25, 2009
Books that every leader should read
As a leader of your own business, you should allocate some time for education. I like this quotation "If you think education is expensive, think ignorance". The best investment is investing in yourself.
For a list of recommended books that you should read, go here
For a list of recommended books that you should read, go here
Dec 25, 2008
Power of budgeting, and acting on it
This time last year I sat down and worked out how much I earned per hour for 2007, and wasn't too happy with the figure.
Earnings per hour = total annual sales / 2000 hours
Therefore I made a decision to increase it by 50%, and guess what? I have achieved my target revenue for 2008!
So now I am setting another target for 2009.
What about you?
How did I achieve my target revenue? I consciously have that figure in my mind, & will not take on jobs that pay me lower than that rate. Did it price me out of the market? I don't think so, because I know I provide a much higher value to my clients.
If you have a team of sales people working for you, you can extend this concept to each sales staff and you can work out how much they are worth to you per hour, and you will not want them to spend another minute longer on un-productive work!
Read also my take on Should you wash your own car
Earnings per hour = total annual sales / 2000 hours
Therefore I made a decision to increase it by 50%, and guess what? I have achieved my target revenue for 2008!
So now I am setting another target for 2009.
What about you?
How did I achieve my target revenue? I consciously have that figure in my mind, & will not take on jobs that pay me lower than that rate. Did it price me out of the market? I don't think so, because I know I provide a much higher value to my clients.
If you have a team of sales people working for you, you can extend this concept to each sales staff and you can work out how much they are worth to you per hour, and you will not want them to spend another minute longer on un-productive work!
Read also my take on Should you wash your own car
Dec 23, 2008
MYOB : Focus on SMEs
Surviving the Recession : Be prepared.
As a business owner, the current slowdown in the economy is the best time for you to sharpen your saw, put your house in order, and step up the marketing.
Managing the cashflow is one of the main concerns of all businesses, especially so for small and medium enterprises (SMEs). As the economy gets tougher, businesses need to be more efficient in managing their resources - money, people & time.
Knowing your numbers - your break-even sales , your fixed costs, your receivables, your payables, your stock level, your bank balance - will go a long way to help you plan your next move in the business.
And you cannot rely on the old-fashioned way - manual or using Excel spreadsheet to churn you those numbers fast enough. Most of us do not know enough of Excel spreadsheets to be able to produce reports that an accounting software can.
If you are one of those who's guilty of putting the receipts and bills in a shoebox for compilation at the end of the year, it's time you recognise that management tools like MYOB software are built to help you run your operations in a smarter, better and more efficient way.
Only by knowing your real financial health or state of your business, in real time, can you hope to grow and ultimately make more money.
Investing in tools like MYOB Accounting software is exchanging money for time.
And as a business owner, you should be aware of your real cost.
Adopting a management tool cost (lots of) money; while relying on the excel spreadsheets is 'free'. However, remember that every time you request a staff member to prepare a report that could otherwise be printed without any further effort, you are actually expending precious resources (time) which could be use for more productive tasks.
Quotable quotes
If you think education is expensive, try ignorance.
As a business owner, the current slowdown in the economy is the best time for you to sharpen your saw, put your house in order, and step up the marketing.
Managing the cashflow is one of the main concerns of all businesses, especially so for small and medium enterprises (SMEs). As the economy gets tougher, businesses need to be more efficient in managing their resources - money, people & time.
Knowing your numbers - your break-even sales , your fixed costs, your receivables, your payables, your stock level, your bank balance - will go a long way to help you plan your next move in the business.
And you cannot rely on the old-fashioned way - manual or using Excel spreadsheet to churn you those numbers fast enough. Most of us do not know enough of Excel spreadsheets to be able to produce reports that an accounting software can.
If you are one of those who's guilty of putting the receipts and bills in a shoebox for compilation at the end of the year, it's time you recognise that management tools like MYOB software are built to help you run your operations in a smarter, better and more efficient way.
Only by knowing your real financial health or state of your business, in real time, can you hope to grow and ultimately make more money.
Investing in tools like MYOB Accounting software is exchanging money for time.
And as a business owner, you should be aware of your real cost.
Adopting a management tool cost (lots of) money; while relying on the excel spreadsheets is 'free'. However, remember that every time you request a staff member to prepare a report that could otherwise be printed without any further effort, you are actually expending precious resources (time) which could be use for more productive tasks.
Quotable quotes
If you think education is expensive, try ignorance.
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