Table of Contents
How do I create a sub account in MYOB?
To create an account
- Go to the Accounts command centre and click Accounts List.
- Click the tab for the account classification you want to create, such as Asset, Liability, etc.
- Click New.
- If you want to create a header account, select the Header Account option or if you want to create a detail account, select Detail.
How do I create a general ledger account in MYOB?
Entering GL Account Details
- Account > General Ledger, this opens the GL (search) window.
- Click New to create a new GL account. The General Ledger Account Details window opens at the Details tab:
- Complete the entries in each field, using the table below as a guideline.
Where is chart of accounts in MYOB?
Re: chart of accounts In Essentials, you can view the Accounts List by going to the Settings Menu (The Company name or email address in the top right hand side of the Essentials page), and then go down to the Accounts List.
What is a detail account in MYOB?
Detail Account. Create a detail account if you intend to assign transactions to the account. (You can’t assign transactions to header accounts.) You can assign (post) transaction amounts to detail accounts when you enter transactions in MYOB AccountEdge.
What are the main sub ledgers in MYOB advanced?
By enabling the use of the restrictions, control accounts can be set against the following sub-ledgers: Accounts Payable, Accounts Receivable, Fixed Assets, Inventory, Taxes (GST), Purchase Orders (Receipts), Sales Orders (Shipments).
What is header account in MYOB?
Header Account Header accounts are used only to group detail accounts that have a similar purpose; that is, detail accounts are assigned to specific header accounts. In the Accounts List window, header accounts appear in bold type, and their detail accounts appear below them in plain type.
How do I enter liabilities in MYOB?
Go to the Payroll command centre and click Pay Liabilities. The Pay Liabilities window appears. In the Pay from Account field, type or select the account you are making the payment from. If this payment is being made electronically, select the option Electronic Payment.
How do I change my chart of accounts in MYOB Accountright?
Click your business name and choose Accounts list. Click the ellipses button for the account to be edited and choose Edit. The Edit account window appears. You can edit the account’s Number, Name, Type, Tax rate, Parent header and Opening balance, with the exception of locked accounts (those marked with a padlock ).
What is the difference between header account and detail account?
Header accounts are used only to group detail accounts that have a similar purpose; that is, detail accounts are assigned to specific header accounts. In the Accounts List window, header accounts appear in bold type, and their detail accounts appear below them in plain type.
What is a ledger in MYOB?
MYOB Ledger is a simple, online ledger used to store your Client Accounting transaction data. With Client Accounting, you can combine all your current general ledger software into a single workflow. With an MYOB Ledger you can use the full suite of modules and tools that Client Accounting offers.
What is the difference between header and detail accounts?
How do I change the header in MYOB?
Go to the Edit menu and choose Insert Header. A blank line will appear in the scrolling list. Type the text for the header in the Description column.
Is superannuation a liability or expense?
A liability is what you owe someone. Something that you’re going to have to pay. E.g. with superannuation you keep some money behind (collect it) and the total collected is a liability that you’ll have to pay to someone, most likely the superannuation fund.
What are the payroll liabilities?
Payroll liabilities are payroll expenses a business owes but has not paid. These liabilities can appear every time you run payroll. Obligations may include employee compensation, withholdings, and expenses such as the employer’s share of Social Security and Medicare taxes.
How do you modify a chart of accounts?
To do this from the Chart of Accounts screen, find the account you want to edit and click the drop-down menu next to the words Account History, then choose Edit to make your changes.
Can you change account numbers in MYOB?
You can edit the account numbers of detail accounts to change the order they appear in. Each account is identified by a unique five-digit number.
What determines whether or not you add a header account or a detail account?
Header accounts are used only to group detail accounts that have a similar purpose; that is, detail accounts are assigned to specific header accounts.
Who is the developer of MYOB AccountRight plus?
The actual developer of the software is MYOB Technology Pty Ltd. MYOB AccountRight Plus is an accounting and payroll management program. The present version is updated with the latest tax rates. You can customize your invoices and purchase orders, create documents required for your business, etc.
What is MYOB?
Powerful, fast and flexible accounting and business management software You can only use this download if you’ve received an invite or have an AccountRight subscription. New to MYOB? If you’re looking to use AccountRight for the first time, we can help you find the right plan for your business.
Can I use this download if I have an AccountRight subscription?
You can only use this download if you’ve received an invite or have an AccountRight subscription. New to MYOB? If you’re looking to use AccountRight for the first time, we can help you find the right plan for your business.
What if I need an older version of AccountRight?
If you need an older version of AccountRight visit our software downloads centre Speak to expert in our Community Forum. Get help with AccountRight from one of our accounting partners. Or visit our support section for questions about software, training and resources.