Show:
POT LUCK
ACCOUNTS
BANKING/INVENTORY
SELLING
PURCHASING
100
What does the tax code GST stand for?
Goods & Services Tax
100
Which a/cs start with the number 1?
Assets
100
If the owner pays additional capital in cash - where would this be recorded?
Banking Receive Money
100
Someone to whom the business sells goods is called a C
Customer
100
What is another word for purchasing?
BUYING
200
How do I create a new card for a new supplier?
CARD FILE Cards List Supplier tab New
200
What numbers do liabilities and Owner's Equity start with?
Liabilities - 2 Owner's Equity - 3
200
If the owner contributes additional capital in cash, Cash at Bank would be one of the a/cs involved. What would be the other one?
Capital
200
If someone buys something from us using a credit card, is this recorded as a cash sale or a credit sale?
Cash sale
200
Someone from whom the business purchases goods is called a S
Supplier
300
Apart from customer and supplier cards, what other kinds of cards can I set up in MYOB?
Employee Personal
300
How do I add a new a/c?
ACCOUNTS Account List New
300
If I wanted to see a list of transactions in and out of my bank a/c, where in MYOB could I go? Centre and Section.
Banking Centre Transaction Journal
300
Where could I find a list of all sales transactions? *Identify the Centre and the Section
Sales Centre Transaction Journal
300
When paying for an item previously purchased on credit, which section of the PURCHASES CENTRE would you go to?
Pay bills
400
If advertising is paid in June for the months of June, July and August, what do we call the portion for July and August?
Prepaid Expense (or prepaid advertising - but Prepaid Expense is better!)
400
How do I edit the name of an existing a/c?
Accounts Account List Choose the Account Edit
400
How do I set up adjust inventory after a stocktake?
Go to INVENTORY Count inventory Record the amounts on hand Record the adjustment a/c (shrinkage) Continue Record
400
When an A/c Receivable pays their account, where do we record this?
Receive payments within the SALES CENTRE
400
When we purchase something on credit, but also pay a deposit, how do we record the deposit?
In "paid today"
500
When is your MYOB exam??
Monday of week 11 (Monday the 16th of September)
500
How do I record opening balances for asset and liability accounts?
Go to SET UP Balances Account Opening Balances
500
How do I set up opening inventory balances?
Go to INVENTORY Count inventory Record the amounts on hand Click continue through the adjustment a/c Opening Balances Record the amount
500
What are the steps for recording a sales return?
1. Enter a negative sale 2. Allocate the negative sale through the returns and credits tab
500
What are the steps for recording a purchase return?
1. Record a negative purchase 2. Allocate the negative purchase through returns and debits.