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e-Generation: A Computerised Accounting Practice Set Using MYOB AccountRight PLUS Version 19, Student Edition

e-Generation: A Computerised Accounting Practice Set Using MYOB AccountRight PLUS Version 19, Student Edition

Wendy Pabst, Brian Perrin

ISBN: 978-0-730-31922-1

Aug 2014

96 pages

Select type: Paperback

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CHAPTER 1 Introduction  1

Completing the practice set  2

Downloading MYOB AccountRight Plus  2

CHAPTER 2 Guided tour of MYOB  4

Running MYOB AccountRight Plus and loading the data file  4

MYOB AccountRight Plus graphical interface  5

Overview of MYOB command centres  6

CHAPTER 3 Setting up the data file  8

Business background: e-Generation  8

Create a new data file  8

Set up the business details using the New Company

File Assistant  9

Set up the accounts list 12

Double-entry accounting and linked accounts 16

Entering general ledger opening balances  17

Check the accounts list  19

Set up customer cards and enter opening balances  20

Set up supplier cards and enter opening balances  26

Set up inventory items  29

Record inventory opening balances  33

Initial bank reconciliation  35

CHAPTER 4 Entering transactions for period 1  39

Purchase order 39

Cash sales  40

Spend money (cheque)  42

Receipt from a customer  44

Convert a purchase order into a bill  45

Pay a supplier (part payment)  47

Spend money (petty cash)  48

Credit sales (new customer)  49

Purchase return  51

Spend money (pay wages)  54

Pay a supplier (including prompt payment discount)  55

Cash sales and undeposited funds  57

CHAPTER 5 Reports  60

Using the command centre to produce reports 60

Using the main menu bar to produce reports  62

Profit and loss  63

Balance sheet  64

Trial balance  64

CHAPTER 6 Completing the practice set  66

Period 2 transactions (11 January to 17 January)  66

Period 3 transactions (18 January to 24 January)  66

Period 4 transactions (25 January to 31 January)  67

APPENDIX 1 Transactions — January 2015  70

APPENDIX 2 An introduction to the GST and PAYG  85

APPENDIX 3 Chart of accounts  87

APPENDIX 4 MYOB help  89