MYOB Flashcards
What are two ways to exit a data file?
Under MYOB Menu, click on file, click on exit.
In upper right corner, click on red x.
How do you open a data file?
Under MYOB menu, > file > menu
What is an AccountRight Live library?
A defined location where all of my company files are stored.
The library can be stored on a computer, online or on a network computer.
Where is My Library located?
On your computer
Can AccountRight Live library be moved after being created?
Yes
What is synchronizing?
Files stored on line in the cloud are synchronized to my computer.
What are off line files?
Files on your computer. They are synchronized ever 20 minutes.
What does a user need for access to the data file?
An ID and a password and assignment to files they are permitted to use.
What is a user role?
A predefined profile allowing access to windows the user can use and actions they can take.
What does setting up users allow the owner of the data file to do?
Control who accesses the data file, track transaction history and set up online access for users who are AccountRight Live subscribers.
what are the three interactive parts of the command center?
menu bar
function command centers
action panel
what are three ways to navigate around command center screens?
Open with mouse by double clicking
tab
click on arrows on side of screen once.
How do you access tax codes?
On menu bar, click lists and roll down to tax codes. Use drill down button (arrow) to see inside each code.
What is search help?
An online help system which maybe more up to date than the computer based help system.
How can you access help?
menu bar
upper right hand corner question mark
How can you access online answers to help automatically?
Under preferences, click on internet help
What are the accounts list and chart of accounts?
same thing
a listing of all accounts
What is the purpose of accounts?
To record, track, organize and report on a company’s financial activity
How many classifications of accounts are there in the chart of accounts in MYOB?
eight classifications
What is classification
1-0000?
Asset accounts
cash at bank
tools
vehicle
What is classification
2-0000?
liability accounts
debt owed
What is classification
3-0000?
equity accounts
owner’s share of business, capital and drawings
What is classification
4-0000?
income accounts
revenue
What is classification
5-0000?
cost of goods sold accounts
materials and labor
What is classification
6-0000?
Expense accounts
overhead
rent, advertising
What are header accounts?
displayed in bold type, will not accept details, but produce sub totals
What are detail accounts?
listed under header account
accept figures from transactions
