Description

This MYOB Training Course includes

Daily Transactions

All of the transactions and tasks which office admin and junior bookkeepers perform on a daily basis to manage the operational and financial aspects of the business in MYOB Essentials Cloud Accounting Software.

The purchases, sales, payment receipting and payments made are included but inventory management and reporting is also included for those students working in companies which not only provide services but combine them with products.

Edit your Chart of Accounts to Suit the Business

Every business is different and these days accountants, bookkeeper and business owners prefer to use plain English descriptions of each of the categories in their chart of accounts. You’ll learn how to modify the chart of accounts as well as business information including your credit trading terms, you’ll be able to change these terms in the course too.

Create Stock (inventory) Items

You’ll create inventory items to buy and sell both products and services. This scenario is typical for businesses like tradies who buy and sell products as well as their time (services) and many other businesses ranging from IT services providers, digital agencies, professional services like lawyers and many others. Once you’ve created these items you’ll also learn how to make changes to them.

MYOB Essentials as a Customer Database (CRM)

You’ll learn how to create contacts for suppliers and customers and use your software to capture important information which can be useful when a business is sold (ie. client list) as well as for when you want to perform digital marketing to keep in touch with customers.

Creating a Quote and Invoice

MYOB Essentials enables you to create a quote while you are on the road or seeing clients. You’ll learn how to capture the clients requirements and record it straight away. This makes the information accurate and ensures you don’t miss anything because it will be fresh in your mind. Once the quote is created you’ll learn how to go and find historical quotes and convert to invoices to clients who’ve chosen to use the companies products and services.

Sales Invoices and Accounts Receivable

Once the sales invoice is generated you’ll learn how to apply full payments, part payments, one payment for many invoices and issue credit notes as well as produce reports on debtors to help you better manage the credit you give to the businesses customers.

Credit Reporting and Credit Management

You’ll learn how to use MYOB Essentials to see who owes you money, detailed reports by customers and how to modify & filter these reports.

Purchases and Accounts Payable

You’ll learn to use MYOB Essentials to create purchase orders, supplier bills as well as make payments and apply those payments to purchases.

Journal entries

Most of the above transactions are based on what’s called accrual accounting which means to keep track of money owed and money owing. At the end of each month you’ll learn how to perform a bank reconciliation and record transactions based on what is called cash accounting.

Wages, Assets Purchases, Depreciation and Correcting Mistakes

Cash based transactions include Spend Money Transactions, Receive Money Transactions and you’ll learn to perform the transactions that appear on your bank statement from automatic payments as well as to handle payroll on an adhoc basis based on individual payment transactions for things like wages, asset purchases, depreciation and incorrect transactions.

End of Month, Bank Recs and Journal Entries

A bank reconciliation is performed once all of the day-to-day transactions have been entered into your software (unless you’re doing what is called Rescue Work or Catchup Work). The purpose of this bank reconciliation is to ensure that your software data matches the information in the real world (ie. your bank account). In the MYOB Essentials Bank Reconciliation and Journal Entry Training Course we profile a small business startup.

The business owner lends the company money for cashflow, buys a car that needs to be depreciated, spends money on advertising and marketing to build awareness, makes some small sales and pays themselves a wage on an ad hoc basis depending on their bank balance.

These business include many trades and professional service organisations like Air conditioning, Plumbing, Building services, trades, Electricians, tilers, painters, audio visual, security and monitoring, pest control, landscape gardeners and more

The Course includes the MYOB Essentials training workbook with step-by-step tasks to compliment the educational videos. You’ll perform these steps using real life data.

Bank Feeds and Reconciliation

You’ll learn how to begin a bank reconciliation, edit incorrect transactions and come to a fully balanced reconciliation.

Regular Financial Reporting

Once the reconciliation is complete you’ll run Run a Bank Reconciliation Report and a General Ledger Report.

MYOB Essentials Beginners Certificate

After successfully completing all assessment tasks and tests as part of this beginners course you’ll receive a Certificate of completion from National Bookkeeping, a BAS Agent registered with the Tax Practitioners Board.

If you decide you progress with your studies you can take advantage of our Industry Connect and Membership Directory to get discovered for accounting Jobs, Accounting Tutor jobs and bookkeeping work.