Process accounts payable and receivable

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1 A Step by Step Approach to Processing Accounts Payable and Receivable using MYOB AccountRight v19 Copyright Notice: Copyright 2010 Software Publications Pty Ltd. All rights reserved. No part of this material may be reproduced or copied in any form or by any means (graphic, electronic or mechanical, including photocopying or by information retrieval systems) without permission in writing from Marian Brown. Originating Author: Marian Brown Dip T [Commerce], MICB BAS Agent Cert IV Workplace Training and Assessment, Cert IV in Financial Services [Bookkeeping] MYOB Certified Consultant for 15 years, BAS Agent MYOB Accredited Author, MYOB Publisher, MYOB Accredited Trainer MBS Training Services Pty Ltd sales@mbsts.com.au Revised August 2010: Cindy Drew, Dip Teach, B Ed., MICB BAS Agent Cert IV in Financial Services [Bookkeeping] MYOB Certified Consultant 10 years MYOB Accredited Trainer MYOB Developer Training and Business Services Pty Ltd Publishers: Software Publications Pty Ltd [ABN ] Head Office Sydney Unit 10, 171 Gibbes Street Chatswood NSW 2067 Phone: Web address: ISBN Printed August 2010 BSBFIA303A: Process accounts payable and receivable Software Publications Pty Ltd 2010 Process Accounts Payable and Receivable using MYOB AccountRight v19

2 Copyright/Trademark Information: MYOB, MYOB AccountEdge, MYOB AccountRight Standard, MYOB AccountRight Plus, MYOB BusinessBasics, MYOB FirstEdge, MYOB M-Powered, MYOB M-Powered Services, MYOB M-Powered Bank Statements, MYOB M-Powered Invoices, MYOB M-Powered MoneyController, MYOB M-Powered Payments, MYOB ODBC Direct, MYOB PowerPay, MYOB AccountRight Premier and MYOB AccountRight Enterprise are registered trademarks or trademarks of MYOB Technology Pty Ltd and their use is prohibited without prior consent. Ceedata, Solution 6 MAS and Xlon are registered trademarks or trademarks of Solution 6 Holdings Limited, a member of the MYOB group. Bpay is a registered trademark of Bpay Pty Ltd, ABN MasterCard is a registered trademark of MasterCard International Inc. Microsoft, Access, Excel, Internet Explorer, Office, Outlook, Smart Tags, Windows and Word are registered trademarks or trademarks of Microsoft Corporation in the United States or other countries. VISA is a registered trademark of Visa International Service Association. Other products mentioned may be service marks, trademarks or registered trademarks of their respective owners. Screen captures from MYOB AccountRight Plus v19 reproduced with permission. Limitations of Liability: This material is designed to provide basic information on how to use MYOB AccountRight Standard/AccountRight Plus v19. Because business circumstances can vary greatly, the material is not designed to provide specific GST or business advice for particular circumstances. Also, because aspects of the GST are complex and detailed, the material is not designed to comprehensively cover all aspects of the GST. Further, the laws implementing GST and rulings and decisions under those laws may change. Before you rely on this material for any important matter for your business, you should make your own enquiries about whether the material is relevant and still current, and whether it deals accurately and completely with that particular matter; and as appropriate, seek your own professional advice relevant to that particular matter. This information is for the general information of MYOB clients and is not to be taken as a substitute for specific advice. Consequently Software Publications Pty Ltd will accept no responsibility to any person who acts on information herein without consultation with Software Publications Pty Ltd. The information in this book is relevant to MYOB AccountRight Plus v19. Earlier or later versions of MYOB software could change the instructions in this workbook. Please note: The information in this workbook is accurate at the time of revision [August 2010] only. Because legislation and associated websites are constantly changing, url s and screen dumps of websites in this workbook may have changed. Software Publications Pty Ltd 2010 ii

3 Unit 6: File Management Learning Outcomes Back up your data file Restore your back up Back Ups Back Ups are an essential part of your daily routine. A back up is a copy of your data file in the event of something happening to your original data file such as corruption, virus or theft. (i) (ii) Make sure you have your Browns Plumbing v19 data file OPEN. Check your Preferences to check on the back up options within MYOB. (a) Click on Setup in the Menu Bar. (b) Choose Preferences. (c) click on the Security TAB. (d) Select ( ) the Prompt for Data Backup when Closing option. (e) KEEP THIS WINDOW OPEN. Software Publications Pty Ltd 2010 Process Accounts Payable/Receivable using MYOB v19 - Unit 6 File Management 69

4 (iii) Your data file should also be checked or verified for corruption when you back up your file. Tick the following option: (iv) Click on OK. When working on your MYOB data file, you must BACK UP at the end of every session/day. It is recommended that you make at least one back up. BACK UP 1 could be stored on your computer and used if you make a big mistake in your current data file and do not wish to correct your errors or your working data file is accidentally deleted or corrupted. BACK UP 2 must be stored away from your computer eg take home with you if your computer is at a place other than your home, or in another part of the house on an external device eg CD, USB drive, zip drive or floppy to be used in the event of theft, fire or virus infection of your computer. To make a BACK UP of your current data file: (i) (ii) Click on File in the Menu Bar. Select Back Up. The following dialog box is displayed. You can make a copy of your data file + BAS + forms + letters + spreadsheets + customised reports [features covered in other workbooks]. (iii) (iv) Read the contents of the dialog box. Select the buttons above. Click on Continue. 70 Unit 6: File Management Process Accounts Payable/Receivable using MYOB v19 Software Publications Pty Ltd 2010

5 A data-checking message will appear. Hopefully you will have no errors. If you have, MYOB is warning you that your file is corrupted and you should not continue using this data file. You should optimise your data file [ File, Optimise ] then verify again. If the file is still corrupted, you must restore a previous back up copy. (v) Click on OK to continue with the backup. Your Back Up window in MYOB Accounting, could look like this in Windows XP and Vista. You always back up your data file to a different location to your data file ie in this workbook your data file is most likely on C:, therefore you will backup to say YOUR ZIP DRIVE, CD DRIVE, MP3 or USB DRIVE or back up to the Backup directory in the MYOB directory. In this workbook: (vi) Change the location of your back up to your back up device or follow any instructions from your supervisor. [In this workbook, you could back up to your MYOB directory if you do not have a back up device to learn how to backup.] Software Publications Pty Ltd 2010 Process Accounts Payable/Receivable using MYOB v19 - Unit 6 File Management 71

6 Your back up dialog box could look like this in Windows XP or Vista [backing up to an external drive eg USB] Your back up device will be displayed here. (vii) Note the name of your back up: myob{date}.zip. date = month/date ZIP means that this data file will be compressed, so that a large data file can be stored on a disk. [In a classroom situation, you could use your Page Number as your back up name.] This back up name is a good idea, because every day your back up is a different file with a different name {date}. You should not, however, use the same device every day. You should use at least 2 USBs, CDs etc in case one is damaged or lost. (viii) Click on Save [and OK ] to make a back up copy. (ix) (x) Your data file will now be zipped and saved in the nominated location. EXIT your MYOB data file. 72 Unit 6: File Management Process Accounts Payable/Receivable using MYOB v19 Software Publications Pty Ltd 2010

7 (xi) (xii) Because of the Security preference set up, the BACK UP prompt now appears. This gives you a chance to make a second back up. In this workbook, you will not be required to make a second back up. Click on No as you already have a back up, however if you forget before you exit, you can always make ONE back up at this point. (xiii) Now use WINDOWS EXPLORER or MY COMPUTER to check on the existence of your BACK UP copy. Name will be myob{date}.zip. Restoring Your Back Up Computers are reliable but not perfect. Consequently, each day you must back up your data. You have just backed up your data. Assume your original data file has been corrupted. You will now restore the back up data file. To restore your back up: (i) (ii) (iii) (iv) Click on the MYOB icon on your desktop. In this workbook, insert your BACK UP device if required. In your Welcome to MYOB, CLICK on Open your company file. An Open Dialog box appears. Locate in this box, the back up file you wish to restore. Your window could look like this in Windows XP and Vista. No data files are displayed because MYOB is looking for an *.MYO data file, however your backup is an *.zip file. (v) You will have to change the Files of Type to All Files (*.*) to find *.zip files in Windows XP, Vista and Windows 7 Software Publications Pty Ltd 2010 Process Accounts Payable/Receivable using MYOB v19 - Unit 6 File Management 73

8 LOCATION LOCATION Change to All Files (vi) Locate the back up file [ myob{date} ] and select by double-clicking on the name of your data file. (vii) A Save As dialog box appears with a document name. 74 Unit 6: File Management Process Accounts Payable/Receivable using MYOB v19 Software Publications Pty Ltd 2010

9 (viii) Now select the location of the restored data file [perhaps C:\Plus19ED] and give the restored file a new name [ UNIT 6 ] because your original file cannot be replaced. In MYOB Accounting, your window could look like this in Windows XP and Vista.. Software Publications Pty Ltd 2010 Process Accounts Payable/Receivable using MYOB v19 - Unit 6 File Management 75

10 (ix) Click on Save. (x) An alert message appears showing you what the decompressed file will be named and where it will be located. (xi) Click on OK. (xii) Sign on as Administrator [in this workbook] or sign on with your User ID and Password in your business. (xiii) Click on OK. You can now continue entering data in your restored file. In business it would be a good idea to delete the corrupted data file. Exit MYOB. Turn to Unit 7 to learn how to enter Customer Payments and Banking. 76 Unit 6: File Management Process Accounts Payable/Receivable using MYOB v19 Software Publications Pty Ltd 2010