MYOB Premier Assistants Contents

Choose one of the following selections to learn more about it:

  New Data File Assistant

  Easy Setup Assistant


Easy Setup Assistant Contents

Choose one of the following selections to learn more about it:

  Customise

  Accounts

  Sales

  Purchases

  Payroll


Easy Setup Assistant main window

Once you’ve created a new data file, you need to set up the data file so it contains information specific to your business. If you want, you can do all your setup tasks manually, or you can use the Easy Setup Assistant to walk you through the setup process. Since the Easy Setup Assistant provides you with all the major setup tasks you need to perform, we recommend that you use the assistant to ensure your system is fully set up.

The Easy Setup Assistant can be used at any time, and as many times as you want with the same data file. You can also stop the setup process at any time and return to the assistant when it’s most convenient for you.

To begin setting up a particular section of the assistant, click the button that’s associated with the section you want to set up. The assistant will walk you through the section in a step-by-step manner, similar to the process you went through to create a new data file in the New Data File Assistant.

  To prepare to use the Easy Setup Assistant


To prepare to use the Easy Setup Assistant

Before you start using the Easy Setup Assistant, it’s a good idea to know the following information about your company, because you’ll need to enter it while you use the assistant. (If you have an accountant who tracks the details of your company’s business, he or she will know the answers to these questions.)

What are the accounts that make up your business’s chart of accounts?

What are the balances of your accounts in your chart of accounts, as of the first day of your conversion month?

Who are your customers, vendors, employees and personal contacts that you’d like to track using MYOB Premier? (You’ll probably be best served if you make up a list of these people and companies before you start the setup process.)

What are the current balances of your customers and vendors? (In other words, how much do your customers owe you, and how much do you owe your vendors, as of the first day of your conversion month?)

What are the typical credit terms that you assign to your customers? What are the typical credit terms assigned to your company by your vendors?

What year is your current payroll year?

What wages, entitlements, deductions, employer expenses and payroll tax scales apply to your employees? How much have your employees been paid so far during this payroll year?


Step 1: Customise Your System

Everyone has their own way of doing their books and working with computer programs. MYOB Premier provides the flexibility you want when you’re doing your daily accounting tasks. You can use this portion of the Easy Setup Assistant to personalise your MYOB Premier experience. The choices you'll make here are commonly referred to as preferences. These preferences determine such things as how you enter information in MYOB Premier; how you move around in MYOB Premier; how - and whether - you protect your accounting records; and how you enter and maintain your sales and purchases.

You can make changes to any of your preferences at any time. If you decide later on that you'd really rather try a different preference, you can make the change in a few easy steps. You can learn more about making these changes by choosing Procedures Guide from the Help menu to display the Procedures Guide. Click the Find tab, then enter the word customising to display all the topics that are associated with customising your MYOB Premier system.


Step 2: Customise The Way You Enter Data in MYOB Premier

In this step, you can choose whether to use two options that are designed to make data entry easier for you.

You can use MYOB Premier’s Easy-Fill feature to quickly enter account numbers, item numbers and card names that you enter frequently. When you enter an existing account number or card name, Easy-Fill will “recognise” the entry you’re making and automatically fill in the rest of the entry for you.

Easy-Fill displays the first account number or card name that matches the letters you've typed. For example, if you enter "St" on an invoice and you have a customer named Stearns, that customer's name will be suggested for you. If the invoice is for customer Stevens, though, simply keep typing. When you type "Stev," customer Stevens' name will appear.

The Easy-Fill option is marked automatically for you. If you don't want to use Easy-Fill, unmark the option. If you unmark the option, you'll have to enter the full number or name for each account number, item number and card name you enter.

Expandable description fields are available in transaction entry windows throughout MYOB Premier -- wherever you can enter line items for a transaction. MYOB Premier allows you to enter line item descriptions that are much longer than the text that can be displayed on the computer screen. The Use Expandable Data Entry Fields in Windows option is marked for you automatically; if you choose to use this option, description fields will expand to display all your comments whenever you move the insertion point into a description field, and you'll be able to view all your comments as you write them. If you choose to unmark this option, the Description field won't expand, and you'll be able to see only about 30 to 60 characters of your description. (You can use the insertion point to scroll through the Description field if you want to view the part of your comment that's not displayed, however.)


Step 3: Choose Whether You Deal in Multiple Currencies or Not

In this step, you’ll indicate whether you wish to take advantage of MYOB Premier’s multicurrency capabilities.

If you mark the I Deal in Multiple Currencies selection, you’ll be able to record sales, purchases and other transactions in foreign currencies, and MYOB Premier will allow you to track changes in the exchange rate, along with the effects of those changes on your financial records.

Additional setup steps are required after you’ve created your data file. Please refer to your Online Procedures Guide or your printed User Guide for detailed information about setting up and using MYOB Premier’s multicurrency features.

Note: Once you mark this option and begin recording transactions in other currencies, you cannot unmark this option. For that reason, you may want to leave this option unmarked if you conduct all your business in Australian dollars.


Step 4: Customise The Way You Use Your Keyboard With MYOB Premier

When you first begin using MYOB Premier, the program is set up so that if you press the ENTER key, you'll click the default button (the button with a dark border around it). If you’d rather press the ENTER key to move between fields in MYOB Premier windows, mark the box in this step. (If you mark this selection, you can still use the TAB key to move between fields, as well.)


Step 5: Choose Whether Your Transactions Are Changeable Or Unchangeable

If you wish to maintain a comprehensive history of all transactions you enter in the MYOB Premier system - in other words, if you want to keep a strict audit trail - be sure the box labeled “Transactions CAN’T Be Changed; They Must be Reversed" is marked.

If this option is marked, your transactions are considered unchangeable; that is, you won’t be able to make changes or remove the transactions you’ve recorded; instead, you’ll need to reverse the transaction to completely remove the effects of the transaction from your records. (A reversing transaction is one that "undoes" an earlier transaction. Both transactions remain on your records, and you have a complete record of the entries you've made.)

If this option isn't marked, your transactions are considered changeable; you can make changes directly to any transactions you've already entered and recorded (made permanent). While this is a bit faster and easier than making reversing entries, you may find it less easy to determine when or why changes were made to your earlier entries.


Step 6: Choose How You Want To Protect Your Company's Data
Step 6: Choose How You Want To Protect Your Company’s Data

Choose one of the following selections to learn more about it:

  Prompt For Data Backup When Closing

  Automatically Prompt For A Session Report

  Check Data File For Errors Before The Backup Process

  Prompt for Data Verification When Opening


Prompt For Data Backup When Closing

If this selection is marked, you’ll have the option of making a backup copy of your MYOB Premier data file whenever you choose Exit (if you’re using a Windows computer), Quit (if you’re using a Macintosh) or Open from the File menu. If you choose one of these commands, a dialog box will appear, asking whether you wish to make a backup.

This option is marked for you when you begin using the Easy Setup Assistant. We recommend that you leave this option marked and that you make regular backups, since using a current set of backups often is the easiest way to restore your accounting records if a serious problem arises.


Prompt for Session Report When Closing

Session Reports show all the entries you’ve made since you last started MYOB Premier (for most people, that’s the start of the business day). You can use Session Reports to review your entries. They also can be helpful if a problem occurs and you need to make some of your entries again. (Note, though, that a current backup is preferable for this purpose.)

This option is marked for you when you begin using the Easy Setup Assistant. If you leave the option marked, a dialog box will appear, asking whether you wish to print the report, when you choose Exit (if you’re using a Windows computer), Quit (if you’re using a Macintosh), Open or New from the File menu.

When you choose to print a session report, the command you chose (Quit, Exit, Open or New) is cancelled. After the report is printed, choose your command again, then select No Report in the dialog box.


Check Data File For Errors Before The Backup Process

If you mark this option, you’ll be given the option to check your MYOB Premier data file for errors before it’s backed up. This process is called data verification, and it ensures that damaged records don’t go unnoticed. Depending upon the size of your data file, this process can be rather time-consuming; you may want to check your data for errors only when you don’t plan to use your computer for several minutes.

If your data file is verified and is OK, a message will appear to let you know this, and you can continue the backup process. If problems are found, a message will appear to alert you, and the backup process will be stopped. If you’re alerted that problems have been found, we recommend that you stop using the damaged data file and restore a recent backup. Any entries you made after you created the backup will have to be made again.

  Be careful when you exit MYOB Premier!


Be careful when you exit MYOB Premier!

Data files are damaged most frequently by power interruptions or by exiting MYOB Premier improperly. Use caution when exiting MYOB Premier.


Prompt for Data Verification When Opening

If you mark this option, you'll be given the option to check your MYOB Premier data file for errors when you first open the data file. This process is called data verification, and it ensures that damaged records don't go unnoticed. Depending upon the size of your data file, this process can be rather time-consuming; you may want to check your data for errors only when you don't plan to use your computer for several minutes.

If you use this option and the data verification process determines that your data file is OK, a message will appear to let you know this, and your data file will be opened. If problems are found, a message will appear to alert you, and the backup process will be stopped. If you're alerted that problems have been found, we recommend that you stop using the damaged data file and restore a recent backup. Any entries you made after you created the backup will have to be made again.

  Be careful when you exit MYOB Premier!


Step 7: Customise The Way You Use The To Do List

The To Do List is an interactive set of reminders that you can use to organise common business tasks. For example, you can use the To Do list to reorder goods you keep in stock, make recurring payments, and process recurring (standing) orders from your customers. You can set up your To Do List to let you know whenever these and other tasks need to be done.

If you mark this option, the To Do List will appear automatically each time you start MYOB Premier. You can review the To Do List to see whether there are tasks that need attending to before you begin your business day. If you prefer to review the To Do List at other times, leave this option unmarked. You can open the To Do List at any time by clicking the To Do List button in any command centre.


Step 8: Customise The Way You Use The Contact Log

The Contact Log makes it easy for you to keep track of the contacts you’ve had with customers, vendors and other people you do business with. Using the Contact Log, you can keep a record of the date and time you contacted these people, an agreed-upon recontact time, if appropriate, and other notes about the contact. The Contact Log can be found in the Card File Command Centre.

In addition, you can use the Easy Setup Assistant to automatically add an entry to the Contact Log each time you create a cheque, deposit, sale or purchase transaction. These entries will be created for the individuals whose names appear on the transactions you enter. These options are marked for you when you begin using the Easy Setup Assistant; unmark any options you don’t want to use.


Step 9: Customise How You Work In The Sales Command Centre

Choose one of the following selections to learn more about it:

  Print Invoices When They’re Recorded

  Print Packing Slips When Invoices Are Printed

  Print Labels When Invoices Are Printed

  Warn If Customer Has An Outstanding Credit Before Applying A Payment

  Apply Customer Payments Automatically To Oldest Invoice First


Print Invoices When They're Recorded
Print Invoices When They’re Recorded

If you want to automatically print sales invoices as soon as you record them, mark this option. You might want to use this option if, for example, you’re using MYOB Premier in a store and your customers expect to take their invoices away with them. Whenever you record an invoice, the Print dialog box will appear and you can print the invoice.

If you don’t mark this option, you can either print individual invoices when they’re recorded or many invoices at once, say at the end of the day.


Print Packing Slips When Invoices Are Printed

If you want to automatically print packing slips to accompany the invoices you print, mark this option. You might want to use this option if you operate a mail-order business and all or most of your sales are shipped or delivered to customers.

If you don’t mark this option, you can print packing slips using the Print Invoices selection in the Sales Command Centre.


Print Labels When Invoices Are Printed

If you want to automatically print shipping or mailing labels to accompany the invoices you print, mark this option. You might want to use this option if you operate a mail-order business and all or most of your sales are shipped or delivered to customers, or if you routinely mail invoices to customers, rather than providing them at the time of the sale.

If you don’t mark this option, you can print labels using the Print Invoices selection in the Sales Command Centre.


Warn If Customer Has An Outstanding Credit Before Applying A Payment

If this option is marked, you’ll be notified if a customer has an existing credit balance with your business whenever you apply a payment the customer’s made on a sale. (If you’re a retailer and your customer has a credit balance with you, he or she may want to pay a lesser amount on the current sale.)

This option is marked for you when you begin using the Easy Setup Assistant. Unmark the option if you don’t want to be notified when customers have a credit balance on account.


Apply Customer Payments Automatically To Oldest Invoice First

Mark this option if you’d like MYOB Premier to automatically suggest that customer payments be applied to the oldest outstanding sales first.

If you mark this selection, the amount you enter in the Amount field of the Customer Payments window will be entered in the Amount Applied field automatically for the oldest sales transaction the customer has with your business. If you don’t mark this selection, you’ll have to manually distribute the amounts you enter in the Amount field to whichever transactions you wish to apply them to.


Step 10: Customise How You Work In The Purchases Command Centre

Choose one of the following selections to learn more about it:

  Print Purchases When They’re Placed In The Pending File

  Apply Vendor Payments Automatically To Oldest Purchase First

  Warn If Vendor Owes Me Money Before Making A Vendor Payment


Print Purchases When They're Placed In The Pending File
Print Purchases When They’re Placed In The Pending File

If you want to automatically print purchase orders as soon as you place them in the Pending File, mark this option. Whenever you place a purchase order in the Pending File, the Print dialog box will appear and you can print the purchase order.

If you don’t mark this option, you can print the purchase orders in the Pending File by selecting Print Purchases in the Purchases Command Centre.


Apply Vendor Payments Automatically To Oldest Purchase First

Mark this option if you’d like MYOB Premier to automatically suggest that vendor payments be applied to the oldest outstanding purchases first.

If you mark this selection, the amount you enter in the Amount field of the Vendor Payments window will be entered in the Amount Applied field automatically for the oldest purchase transaction you have with the vendor you’ve selected. If you don’t mark this selection, you’ll have to manually distribute the amounts you enter in the Amount field to whichever transactions you wish to apply them to.


Warn If Vendor Owes Me Money Before Making A Vendor Payment

If this option is marked, you’ll be notified if you have an existing credit balance with the vendor you’ve selected whenever you apply a vendor payment to a purchase you’ve made from the vendor. (If you have a credit balance with the vendor, you may wish to pay a lesser amount on your account.)

This option is marked for you when you begin using the Easy Setup Assistant. Unmark the option if you don’t want to be notified when customers have a credit balance on account.


Step 11: Customise The Way You Work With Reports

Choose one of the following selections to learn more about it:

  Always Display Filters Before Printing Reports

  Aging


Always Display Filters Before Printing Reports

Report filters are options that enable you to limit the information that will be displayed on any particular report. Report filters make it easy to see only the information you want, and nothing more. For example, you can use report filters to print a Balance Sheet report for a particular date or to print an Address List that includes only customers who live in a particular postcode area. (You might want this information if you're targeting your marketing efforts at customers who live in a particular neighbourhood.)

Mark this option if you want to see the window containing the report filters every time you print a report. If you mark this option, the window will be displayed immediately before the report is printed or displayed on your computer screen.

If you don't mark this option, you can click the Filters button in the Index To Reports window as you choose reports to print.


Aging

With MYOB Premier, you can choose to use daily aging periods of any length you like; you also can use monthly aging periods. The selections you make will affect the way information is displayed in the Analyze Receivables and Analyze Payables windows, on plain-paper statements and on the summary and detail versions of the following reports: Aged Receivables, Aged Payables, Receivables Reconciliation and Payables Reconciliation.

If you choose Use Daily Aging Periods, you can use any number of days you like, up to 999 days. For example, if aging periods of 7, 14 and 21 days are common in your industry, enter 7 for the first aging period, 14 for the second aging period, and so on.

If you choose Use Monthly Aging Periods, you can identify your aging periods by either month name or month number. If you choose month names, your MYOB Premier reports and windows will include transactions in the months they came due. If you choose month numbers, MYOB Premier reports and windows will categorise transactions by the number of months they are overdue.

Click here for a detailed example of monthly aging.


Example of Monthly Aging
Examples of Monthly Aging

When MYOB Premier performs aging on a monthly basis, it determines  the month in which an invoice or purchase was recorded, and adds its value to that month's column. For example, assume you have the following invoices:

Customer	Date	Amount	Terms	Due
A-Z Stationery	1 Jul 99	$123.45	21 days from Inv	22 Jul 99
A-Z Stationery	14 Jul 99	200.50	21 days from Inv	4 Aug 99
Chelsea Mosset	2 Jul 99	400.24	C.O.D.	2 Jul 99
Footloose Dance Studio	30 Apr 99	25.00	30 days from Inv	30 May 99
Footloose Dance Studio	12 May 99	112.30	30 days from Inv	11 Jun 99
Footloose Dance Studio	29 Jun 99	149.30	30 days from Inv	29 Jul 99
Footloose Dance Studio	30 Jun 99	20.35	30 days from Inv	30 Jul 99
Footloose Dance Studio	6 Jul 99	90.70	30 days from Inv	5 Aug 99
Footloose Dance Studio	21 Jul 99	85.12	30 days from Inv	20 Aug 99
My Town Realty	26 May 99	210.45	7 days from EOM	7 Jun 99
My Town Realty	10 Jun 99	142.40	7 days from EOM	7 Jul 99

Aging by invoice date using month names

Assume you chose to age on a monthly basis and selected to identify your aging periods by month names. If you age these invoices by invoice date using any date in July 1999, the invoices will be aged in the following fashion.

	Total	Jul	Jun	May	Pre-May
A-Z Stationery	323.95	323.95
Chelsea Mosset	400.24	400.24
Footloose Dance Studio	482.77	175.82	169.65	112.30	25.00
My Town Realty	352.85		142.40	210.45
Totals	1,559.81	900.01	312.05	322.75	25.00
Aging Percent		57.7%	20.0%	20.7%	1.6%

In the example above, each aging period represents the month in which the invoice came due.

Aging by invoice date using month numbers

Assume you chose to identify your aging periods by month numbers. The results would be the same as in the previous example, but with different headings, as follows:

	Total	1 Month	2 Month	3 Months	3+ Months
A-Z Stationery	323.95	323.95
Chelsea Mosset	400.24	400.24
Footloose Dance Studio	482.77	175.82	169.65	112.30	25.00
My Town Realty	352.85		142.40	210.45
Totals	1,559.81	900.01	312.05	322.75	25.00
Aging Percent		57.7%	20.0%	20.7%	1.6%

In this example, each aging period represents the number of months by which the invoices assigned to the period are overdue.

Aging by month name using invoice terms

If you were to age the transactions based on their invoice terms, the results would be similar to those in the previous example. However, your report or MYOB Premier window would show the month in which the invoice falls due.

	Total	Current	Jul	Jun	Pre-June
A-Z Stationery	323.95	200.50	123.45
Chelsea Mosset	400.24		400.24
Footloose Dance Studio	482.77	175.82	169.65	112.30	25.00
My Town Realty	352.85		142.40	210.45
Totals	1,559.81	376.32	835.74	322.75	25.00
Aging Percent		24.1%	53.6%	20.7%	1.6%

Aging by month number using invoice terms

If you were to age the example transactions based on their invoice terms and using month numbers, the results would look like this:

	Total	Current	1 Month	2 Months	2+ Months
A-Z Stationery	323.95	200.50	123.45
Chelsea Mosset	400.24		400.24
Footloose Dance Studio	482.77	175.82	169.65	112.30	25.00
My Town Realty	352.85		142.40	210.45
Totals	1,559.81	376.32	835.74	322.75	25.00
Aging Percent		24.1%	53.6%	20.7%	1.6%


That's It! You're Done Customising Your System!
That's It! You’re Done Customising Your System!

You’ve finished customising your MYOB Premier system. If you want to go back and review the selections you’ve made, or make a change, click the Back button until the selection you want is displayed; make your change, then click the Next button until this window is displayed again. If you’re ready to continue setting up MYOB Premier, click the Finish button and choose another part of MYOB Premier to set up. If you’ve finished setting up MYOB Premier, you can click the Close button to exit the Easy Setup Assistant.


Step 1: Set Up Accounts

An account is tool used to organise a business. Accounts keep track of the financial changes - additions and subtractions - that occur in regular business activity. Since accounts are the backbone of your MYOB Premier financial records, ensuring your accounts work the way you want them to should be one of your highest priorities.

If you selected a starter chart of accounts when you created your company’s data file in the MYOB Premier New Data File Assistant, you already have an extensive set of accounts that you can use to track your business activity, and you may not need to create any more accounts. Many MYOB Premier users find they want to make at least a few changes or additions to their accounts. You can make those changes and additions in this portion of the Easy Setup Assistant. In addition, you’ll use this portion of the Easy Setup Assistant to enter the beginning balances for your accounts.

You can add accounts at any time, and you can make certain kinds of changes to your accounts even after you’ve begun using them. You can learn more about making these changes in the Online Procedures Guide. You can display the Online Procedures Guide by choosing Procedures Guide from the Help menu.


Step 2: Make Changes To Your Chart Of Accounts

This window displays the accounts in the chart of accounts that you selected using the New Data File assistant. You can use this window to add new accounts, edit existing accounts’ names and numbers and delete existing accounts that you don’t plan to use. You also can import accounts if you’ve been using another computerised accounting system.

If you haven’t already reviewed your existing accounts, do so now. This is an excellent activity to do with your accountant or an MYOB Premier certified consultant. Since your accounts are the foundation for the rest of your accounting records, it’s important that they are complete and are capable of meeting your individual company’s needs.

  To add a new account

  To edit an account

  To delete an account

  To import accounts

  If you want to print a list of accounts...


If you want to print a list of accounts

If you want to print a list of accounts to show your accountant, choose Index to Reports from the Reports menu. In the window that appears, click the General Ledger tab. Next locate the Chart of Accounts (Summary) report and highlight it. Then click Print to print the report.


To add a new account

1. 	Click the New button.

The Edit Accounts window appears. You’ll use this window to create the new account.

2. 	Indicate whether the account is a header account or a detail account.

Click the appropriate radio button to indicate whether the new account will be a header account or a detail account.

3. 	Choose the account type you want.

Every account in the MYOB Premier system must be assigned a type before it can be used to track your company’s financial activity. In MYOB Premier, you can choose from eight different account types, each of which serves a specific purpose. The account types used in MYOB Premier are: asset, liability, equity, income cost of sales, expense, other income and other expense.

Click on the drop-down list next to Account Classification to display a list of account types used in MYOB Premier. Highlight the account type you want.

  If you’re unsure about which type you should assign

4. 	Assign an account number to the account.

Enter the four-digit number used to uniquely identify this account. Any four digits except 0000 can be used in the account number. If you enter fewer than four digits, zeros will be added to the end of the number. When you enter an account number, the number will be automatically placed in the chart of accounts list in numerical order.

You can change the number of an account at any time; however, we suggest you keep the same account numbers if you’ve used MYOB Premier for some time, because a new numbering system may be confusing to remember.

Also, you may want to leave room for future accounts when you choose numbers for your accounts. We suggest that you leave five or 10 numbers between your numbers. For example, if you’re a retailer and open a second store, you’ll probably add new accounts for the new location. You may find it convenient to have the accounts for both stores appear together so you can easily compare sales and expenses at the two locations. If you’ve left plenty of room between your account numbers, it’ll be easy to add the accounts for the new location.

5. 	Name the account.

Give the account a descriptive name, one that you’ll easily recognise in the future. You can use up to 30 characters for the name.

6. 	Click OK.

You’ll enter the opening balances for all your accounts in a later step. You can skip the remaining fields in this window. Click OK when you’re satisfied with the entries you’ve made.


Asset accounts

Asset accounts track things a business owns, such as the money in a cheque account, computers and office buildings. Money owed to a business is also considered an asset.

Current assets can be converted into cash (including cash itself) within a relatively short period of time (usually less than a year).

Fixed assets usually take more than a year to convert into cash. An office building can be considered a fixed asset.

Asset accounts are assigned the prefix 1 in MYOB Premier, and normally have a debit balance.


Liability accounts

Liability accounts track things a business owes, such as a working capital loan. Money owed by a business for purchases is also considered a liability.

Current liabilities are due within a relatively short period of time (usually less than a year).

Long-term liabilities usually aren’t due for more than a year.

Liability accounts are assigned the prefix 2 in MYOB Premier, and normally have a credit balance.


Equity accounts

Equity accounts track a company’s net worth. A company’s equity, also known as “owners’ equity” or “capital,” is calculated by subtracting its liabilities from its assets. Some common equity accounts are current year earnings, retained earnings and shareholders’ equity.

Equity accounts are assigned the prefix 3 in MYOB Premier, and normally have a credit balance.


Income accounts

Income accounts, also known as “revenue accounts,” track the increase in equity from the sale of items or services.

Income accounts are assigned the prefix 4 in MYOB Premier, and normally have a credit balance.


Expense accounts

Expense accounts track the cost incurred when a business attempts to create income.

Expense accounts are assigned the prefix 6 in MYOB Premier, and normally have a debit balance.


Cost of Sales accounts

Cost of sales accounts track the amount paid to sell an item or service. The amounts tracked by cost of sales accounts are sometimes referred to as “cost of goods sold” amounts.

Cost of sales amounts are subtracted from income amounts to determine gross profit.

Cost of sales accounts are assigned the prefix 5 in MYOB Premier, and normally have a debit balance.


Other Income accounts

Other income accounts track the income that isn’t directly related to a company’s operations, such as interest income.

Other income accounts are assigned the prefix 8 in MYOB Premier, and normally have a credit balance.


Other Expense accounts

Other expense accounts track the expenses that aren’t directly related to a company’s operations, such as loan interest and fines.

Other expense accounts are assigned the prefix 9 in MYOB Premier, and normally have a debit balance.


If you're unsure about which type you should assign
If you’re unsure about which type you should assign

If you’re unsure about which type you should assign to a new account, you should probably consult your accountant, or to an MYOB Premier certified consultant.


To edit an account

1. 	Highlight the account and click the Edit button.

Click on the account you want to change to highlight it. Then click Edit; the Edit Accounts window will open. You’ll use this window to edit the account.

2. 	Make the changes you wish to make.

You can change the account number, account name, and if allowed, the account level of an existing account. (The level of the five Level 1 accounts - asset, liability, income, expense and equity -can’t be changed. In addition, header accounts you create must be either Level 2 or Level 3.) When you change an account’s number, the account list is reordered (in account number order). If a header is separated from its sub-accounts, the sub-accounts are moved up one level.

3. 	Click OK.

Click OK when you’re satisfied with the entries you’ve made.


To delete an account

Click on the account you want to delete to highlight it. Then click the Delete button; the account will be removed from your chart of accounts.

(When you’re just starting to use MYOB Premier, accounts can be easily deleted. Once you begin recording transactions, you’ll find that there are some restrictions that affect when - and if - accounts can be deleted. This is to protect the integrity of your accounting records.


To import accounts

If you’ve been using a spreadsheet program or another accounting program to keep track of your accounts, you may want to use the same account numbers, names and so on in MYOB Premier. You can use the instructions below to import your existing accounts into your MYOB Premier data file.

  If you want some help with the importing process

1.	Export the data you want from the software program you’ve used to create the data.

Export the data you want, using the program where the information currently is located. Consult the manuals or online help for that program if you’re unsure about how to export the data. For example, if you’ve used a spreadsheet program to track your data in the past, you should use that spreadsheet program to export the information you want to use in MYOB Premier.

The data you export must be stored in a file, known as an import file, that uses either the tab-delimited or comma-separated file format.

2.	Make a backup of your MYOB Premier data file.

Although problems don’t often occur when you import data, you’ll be making changes to your data file that will be difficult to undo. As a precaution, we strongly recommend that you make a backup of your data file before you begin importing information into it.

3.	Return to the Easy Setup Assistant and click Import to begin importing the data.

Return to the Accounts portion of the Easy Setup Assistant, and click the Import button in the Make Changes To Your Chart Of Accounts window.

4.	Select the file format you used when you created the import file.

In the Import File Format field, select the file format of the import file you created in step 1.

5.	Indicate whether the first record in the file is a header record or a data record.

In the First Record Is field, select whether the first record in the import file is a header record or a data record.

6.	Indicate how you want duplicate records to be handled.

In the Duplicate Records field, select whether to reject duplicate records or update existing records.

In MYOB Premier, you can’t have accounts with identical numbers. If you attempt to import an account with a duplicate number, MYOB Premier will either reject the number or add the record’s unique information to your data file, depending upon your selection here. If you’ve selected an MYOB Premier starter chart of accounts, you may want to select Update Existing Record, since you’ll want the information from your previous account to appear in MYOB Premier. If you choose the Reject Them selection and you have accounts with the same account numbers, the information about your previous accounts won’t be brought into MYOB Premier.

For example, say account 1-1000 already exists in your data file and you select Update Existing Record here. When you import information about your previous account 1-1000, the information about the starter account 1-1000 in your data file will be changed to reflect the information that’s in the import file.

If you choose to reject duplicate records, the information that’s rejected will be placed in the Import Log report, which is created at the time you import.

7.	Locate the import file.

After you’ve made your selections in the Import File window, click Continue. A dialog box appears, allowing you to locate your import file. Locate the file and click OK (Windows) or Open (Macintosh).

8.	Match the fields in the import file with those in your MYOB Premier data file.

The Import Data window appears. In this window, you’ll match the information in the import file with its corresponding fields in MYOB Premier. To do this, highlight the name of a field in your import file from the Import Fields column.

Then click the MYOB field in the MYOB Premier Fields column that you want to match the import field with. When you click the MYOB Premier Fields column, the import field you selected will appear in the Matching Import Field column.

If you want to remove an import field’s name from the Matching Import Field column, simply click the import field’s name.

Note:  The Account Number field must be imported. MYOB Premier fields whose names have asterisks (*) next to them must have matching import file fields assigned to them. When you import accounts, the account number is the only field that must be imported.

If all the fields in the import file match the fields in the MYOB Premier Fields column, you can match all the fields at one time by clicking the Match All button at the bottom of the window.

9.	Click Import to begin importing the data.

When you’re done matching fields, click the Import button to begin the importing process.

During the importing process, the Import Log report is created. This report lists information about any problems that occurred during the importing process, as well as information about rejected duplicate records. This report is created as a file, and is located in the same place on your computer as your data file.

Each time you import, the Import Log report is created, using the same name. If an Import Log report already exists when you create another one, the existing report will be removed.


If you want some help with the importing process

Importing data is a somewhat advanced activity in MYOB Premier. If you don’t feel comfortable completing the following procedure, you can contact an MYOB Premier certified consultant for assistance.


Step 3: Set Up Your Linked Accounts For General Ledger

Every transaction you enter into the MYOB Premier system must be assigned to one or more specific accounts. To reduce your data entry time and the possibility of mistaken assignments, MYOB Premier was designed to automatically assign your transactions to the proper accounts at the time you record the transactions. These accounts are called linked accounts. When you created your data file, MYOB Premier selected accounts from your starter chart of accounts that are most commonly used for specific kinds of transactions.

In this window, review the selections MYOB Premier has made for your current year and retained earnings amounts.

Also review the account that has been selected for historical balancing. You can use the account for historical balancing to track the difference between the opening balances you’ll enter for your asset accounts and the opening balances you’ll enter for your liability and equity accounts. In traditional accounting terms, assets should always equal liabilities and equity; MYOB Premier doesn’t allow unbalanced transactions (transactions whose debit and credit amounts aren’t equal) to be recorded, but this account allows you to continue to use MYOB Premier if your beginning balances aren’t balanced. This account will be updated automatically when you enter your beginning balance amounts. Ideally, this account should have a balance of zero when you’ve finished entering all your beginning balances. If it doesn’t, we suggest that you review your accounts’ balances to see whether an error has been made.

If you’re not satisfied with the selections MYOB Premier has made for you, click the arrow button next to the first account you want to change. The Select from List window appears, displaying all your accounts. Highlight the account you want to use, and click the Use Account button. The account you selected will replace the one MYOB Premier originally chose for you. Repeat this step for each of the accounts you want to change.

If none of the accounts displayed in the Select from List window seem right, you can create a new account by clicking the New button in that window. The Edit Accounts window will appear. (If you added or changed accounts in the last step, you’ve used the Edit Accounts window already. Simply repeat your earlier steps to create the new account.)

When you’re satisfied with all of your linked accounts, click the Next button to continue with the Easy Setup Assistant.


Step 4: Enter Your Accounts' Opening Balances
Step 4: Enter Your Accounts’ Opening Balances

Unless you’re just starting a new business, most of your accounts probably already have balances - you’ve made sales, paid bills and conducted a variety of other business activities that affect accounts’ balances. For example, if you’ve deposited money in your business’s cheque account, that account has a balance. In this step, you’ll enter those balances.

You’re not required to enter account balances before you start using MYOB Premier, but your financial records may not be completely accurate if you don’t.

The amounts you enter here should be for the first day of your conversion month (that is, the month you begin using MYOB Premier) If the current month is your conversion month, and you’ve made some transactions already this month (sales or purchases, for example), don’t include those transactions in your accounts’ opening balances. Instead, enter these amounts as transactions, to ensure that you have a complete record of your business activities for the month.

If your conversion month is the first month of your fiscal year, all you need to enter is the balances of your balance sheet accounts (asset, liability and equity accounts). If your conversion month isn’t the beginning of your fiscal year, you should enter the balances of all your accounts.

Enter your balances as positive numbers. (Don’t, for example, enter asset amounts as positive numbers and liability amounts as negative numbers.) MYOB Premier knows whether each account should have a debit or credit balance. Enter a negative amount only if an account has a negative balance.

If you or your accountant has a trial balance report for the month prior to your conversion month, the ending balance for each account for that month will be its opening balance in MYOB Premier. If you don’t have a trial balance report, you can use the amounts on a current balance sheet for your asset, liability and equity accounts’ opening balances; you can use the amounts on a year-to-date profit and loss statement for your income and expense accounts’ opening balances.

If your conversion month is the first month of your fiscal year, the opening balance of all your income and expense accounts, as well as your Current-year Earnings account, should be zero. Additionally, the previous year’s yearnings should already be included in the balance of your Retained Earnings account.

MYOB Premier includes an equity account for your current-year earnings. The opening balance for this account is calculated automatically. Although this account doesn’t appear in the Account Opening Balances window, don’t worry - it does exist. Since MYOB Premier will track these amounts automatically, you don’t need to create a current-year earnings account and enter a balance for it.


That's It! You're Done Setting Up Your Account Information!
That’s It! You’re Done Setting Up Your Account Information!

You’ve finished setting up your account information. If you want to go back and review the entries you’ve made, or make a change, click the Back button until the selection you want is displayed; make your change, then click the Next button until this window is displayed again. If you’re ready to continue setting up MYOB Premier, click the Finish button and choose another part of MYOB Premier to set up. If you’ve finished setting up MYOB Premier, you can click the Close button to exit the Easy Setup Assistant.


Step 1: Set Up Sales

Most businesses rely upon sales of goods or services to generate revenue for them. In this portion of the Easy Setup Assistant, you can set up information about your customers and other sales-related information.

Before you begin using this portion of the Easy Setup Assistant, you may find it helpful to gather together a list of your customers, along with their addresses, phone numbers and so on. We also recommend that you gather together a list of all the sales you’ve made to customers that haven’t been fully paid off yet.

You’ll enter this information about your customers in this part of the setup process. In addition, you’ll indicate the credit terms you generally extend to your customers. (MYOB Premier will use these credit terms for all your customers when you first enter information about them, but you can change the terms for any of your customers at any time.) You’ll also choose the type of invoice (item, service, professional, time billing or miscellaneous) that you plan to use most often, and you’ll verify that the linked accounts MYOB Premier has chosen for your sales transactions are indeed the accounts you want to use for these transactions.

You can add information about new customers at any time, and you can make changes to most of your sales information at any time, as well. You can learn more about making these changes by reading your Online Procedures Guide.)


Step 2: Choose Your Typical Invoice Format

In MYOB Premier, you can record five types of sales transactions - service, item, professional, time billing and miscellaneous. These transactions are recorded as invoices, and MYOB Premier provides a separate invoice format for each type of sales transaction. In this step, you’ll choose the invoice format you expect to use most often. The format you choose will be displayed whenever you enter a sales transaction, but you can choose another format if you like.

Click the radio button next to the format you think you’ll use most often.

You’ll enter all sales transactions using the Sales window, regardless of the invoice format you choose.


Step 3: Choose Your Typical Customer Credit Terms

The credit terms you assign to your customers - and your vendors assign to you - are the guidelines you’ve set for the number of days you’ll allow between delivery and payment, discounts for early payment and penalties for late payment. In this step, you’ll indicate the credit terms - if any - that you extend to your customers. The terms you enter here will appear when you create records for your customers later on in the Easy Setup Assistant; you can change them for individual customers if you like.

When you begin entering sales, discounts based on the terms will be calculated automatically. (You can change the terms and discount amounts at the time you enter them as part of a sale, if you need to.)

  To set up credit terms


To set up credit terms

1.	Indicate when customer payments are due.

Begin by indicating when customers’ payments are due to your company. Choose from the following options.

C.O.D.

Prepaid

In A Given Number Of Days

On A Day Of The Month

# Of Days After EOM

Day Of Month After EOM

2.	Set up your standard discount for early payment, if you offer one.

If you offer your customers a discount for making an early payment on their account, use the Discount Days field to enter the number of days the discount is available. (This is the number of days after the transaction date during which the discount applies.) For example, if the transaction date is the 20 April and the number of discount days is 10, a discount would apply if the balance was paid on or before the 30 April.

If you selected On a Day of the Month or Day of Month after EOM in the Payment is Due field, select the day of the month for which the discount applies.

If you select a day in the month that comes before the transaction date, the discount will apply until that day in the next month. For example, if the transaction date is the 20 April and the discount date is 19, a discount would apply if the balance was paid on or before the 19 May.

3.	Indicate when customer payments are due.

Use the Balance Due Days field to enter the number of days after the transaction date that the balance of the transaction is due. For example, if the transaction date is April 20 and the number of balance due days is 10, the balance must be paid on or before the 30 April.

If you selected On a Day of the Month or Day of Month after EOM in the Payment is Due field, select the day of the month the transaction is due.

If you select a day in the month that comes before the transaction date, the balance won’t be due until that day in the next month. For example, if the transaction date is the 20 April and the balance due date is 19, the balance must be paid on or before the 19 May.

4.	Specify the percentage discount you offer for early payment, if any.

Use the % Discount for Early Payment field to enter the discount percentage you offer to your customers if they pay a transaction balance on or before the transaction’s discount due date.

5.	Specify the percentage you charge for late payments, if any.

Use the % Monthly Charge for Late Payment field to enter the percentage of the transaction you’ll charge your customers if individual transactions’ balances aren’t paid by the transactions’ balance due date.

6.	Specify the tax code you use most often for your customers.

If you’re required to collect sales or use taxes on sales made to your customers, choose the tax code that applies most often to your customers. If you’re not required to collect these taxes, highlight the default entry and press BACKSPACE to erase the entry.

7.	Specify the credit limit you set most often for your customers.

If you extend credit to your customers, enter the credit limit you use most often. As with your other choices here, this amount can be changed for individual customers at any time.

8.	Click the Next button to continue setting up your company.

When you’re satisfied with your entries here, click the Next button to continue with the Easy Setup Assistant.


Step 4: Set Up Your Linked Accounts For Sales

Every transaction you enter into the MYOB Premier system must be assigned to one or more specific accounts. To reduce your data entry time and the possibility of mistaken assignments, MYOB Premier was designed to automatically assign your transactions to the proper accounts at the time you record the transactions. These accounts are called linked accounts. When you created your data file, MYOB Premier selected accounts from your starter chart of accounts that are most commonly used for specific kinds of transactions.

In this window, review the selections MYOB Premier has made for your sales transaction amounts.

If you’re not satisfied with the selections MYOB Premier has made for you, click the arrow button next to the first account you want to change. The Select from List window appears, displaying all your accounts. Highlight the account you want to use, and click the Use Account button. The account you selected will replace the one MYOB Premier originally chose for you. Repeat this step for each of the accounts you want to change.

If none of the accounts displayed in the Select from List window seem right, you can create a new account by clicking the New button in that window. The Edit Accounts window will appear. (If you added or changed accounts in the Accounts portion of the Easy Setup Assistant, you’ve used the Edit Accounts window already. Simply repeat your earlier steps to create the new account.)

When you’re satisfied with all of your linked accounts, click the Next button to continue with the Easy Setup Assistant.


Step 5: Create Your Customer Cards

In this step, you’ll enter information about each of your customers. MYOB Premier requires that you create a record for each of your customers, but you can choose to keep as little or as much information as you like for these customers.

If you’ve kept customer information in a spreadsheet, another accounting program or some other software program, you can import that information into MYOB Premier. Otherwise, you can enter the information directly.

  To enter new customer information in MYOB Premier

  To edit a customer’s information

  To delete a customer’s information

  To import customer information


To enter new customer information in MYOB Premier

Use these instructions to enter information for your customers if you haven’t been tracking this information in another software program and don’t plan to import your customer information. Repeat these steps for each of your customers.

1.	Click the New button.

Click the New button to display the Card File window in the Easy Setup Assistant.

2.	Indicate whether this customer is a company or an individual.

Click the appropriate radio button to indicate whether this customer is an individual person or a company.

3.	Enter the customer’s name.

If the customer is an individual, enter both a first name and a last name for the person.

4.	Enter contact information for the customer.

Enter contact information for the customer, including the customer’s address, a shipping address (if different from the customer’s main address), phone and fax numbers.

5.	Enter identifiers for the customer, if you like.

If you want to assign identifiers to the customer, use the Identifiers field to do so. You can enter up to 10 identifiers for each customer.

6.	Enter a name or title to use in personalised letters.

Enter a name or title you wish to use in the greeting of a personalised letter for the person or company whose card you’re viewing. For example, if you want to greet a customer named Kara Watanabe as “Kara,” enter Kara in this field. The personalised letters you create for Kara Watanabe will begin with “Dear Kara.”

7.	Enter a contact person’s name.

If you’re entering information about a business and there’s a particular person you work with there, enter that person’s name in the Contact Name field. Enter any additional notes about the customer in the Notes field.

8.	Modify the credit terms, if necessary.

If the credit terms you’ve extended to this customer are different from those you set up earlier using the Easy Setup Assistant, click the Terms button. The Credit Terms window will appear, and you can make any changes that are needed. Any changes you make here will affect this customer only.

9.	Click OK.

When you’re satisfied with your entries for this customer, click OK.


To edit a customer's information
To edit a customer’s information

1.	Highlight the customer’s name and click the Edit button.

Click on the name of the customer whose information you want to change to highlight it. Then click Edit; the Card File window will open. You’ll use this window to edit the information.

2.	Make the changes you wish to make.

You can change any of the information you’ve already entered for this customer.

3.	Click OK.

Click OK when you’re satisfied with the entries you’ve made.


To delete a customer's information
To delete a customer’s information

Click on the name of the customer whose information you want to delete to highlight it. Then click the Delete button; the customer’s information will be removed from your data file.


To import customer information

If you’ve been using a spreadsheet program or another accounting program to keep track of your sales, you may want to use this information in MYOB Premier. You can use the instructions below to import your existing customer information into your MYOB Premier data file.

  If you want some help with the importing process

1.	Export the data you want from the software program you’ve used to create the data.

Export the data you want using the program where the information currently is located. Consult the manuals or online help for that program if you’re unsure about how to export the data. For example, if you’ve used a spreadsheet program to track your data in the past, you should use that spreadsheet program to export the information you want to use in MYOB Premier.

The data you export must be stored in a file, known as an import file, that uses either the tab-delimited or comma-separated file format.

2.	Make a backup of your MYOB Premier data file.

Although problems don’t often occur when you import data, you’ll be making changes to your data file that will be difficult to undo. As a precaution, we strongly recommend that you make a backup of your data file before you begin importing information into it. Refer to your Online Procedures Guide to learn how to back up your data file.

3.	Return to the Easy Setup Assistant and click Import to begin importing the data.

Return to the Sales portion of the Easy Setup Assistant, and click the Import button in the Create Your Customer Cards window.

4.	Select the file format you used when you created the import file.

In the Import File Format field, select the file format of the import file you created in step 1.

5.	Indicate whether the first record in the file is a header record or a data record.

In the First Record Is field, select whether the first record in the import file is a header record or a data record.

6.	Indicate how you want duplicate records to be handled.

In the Duplicate Records field, select whether to reject duplicate records, update existing records or add new records if you have customers with the same name.

If you attempt to import a record for a customer whose name is the same as another customer, MYOB Premier will reject the record, update the information for the existing record in your data file, or create a separate record for the second customer, depending upon your selection here.

(In most cases, you’ll want to choose the Add Them option, since it’s possible to have two or more customers with the name “John Jones” or “Acme Supply.” )

7.	Locate the import file.

After you’ve made your selections in the Import File window, click Continue. A dialog box appears, allowing you to locate your import file. Locate the file and click OK (Windows) or Open (Macintosh).

8.	Match the fields in the import file with those in your MYOB Premier data file.

The Import Data window appears. In this window, you’ll match the information in the import file with its corresponding fields in MYOB Premier. To do this, highlight the name of a field in your import file from the Import Fields column.

Then click the MYOB field in the MYOB Premier Fields column that you want to match the import field with. When you click the MYOB Premier Fields column, the import field you selected will appear in the Matching Import Field column.

If you want to remove an import field’s name from the Matching Import Field column, simply click the import field’s name.

Note:  The Co./Last Name field must be imported. MYOB Premier fields whose names have asterisks (*) next to them must have matching import file fields assigned to them. When you import customer information, the company name or individual’s last name is the only field that must be imported.

If all the fields in the import file match the fields in the MYOB Premier Fields column, you can match all the fields at one time by clicking the Match All button at the bottom of the window.

9.	Click Import to begin importing the data.

When you’re done matching fields, click the Import button to begin the importing process.

During the importing process, the Import Log report is created. This report lists information about any problems that occurred during the importing process, as well as information about rejected duplicate records. This report is created as a file, and is located in the same place on your computer as your data file.

Each time you import, the Import Log report is created, using the same name. If an Import Log report already exists when you create another one, the existing report will be removed.


Step 6: Enter Your Historical Sales

Now that you’ve entered information about your customers, it’s time to enter information about any outstanding transactions they may have with your business. These are sales you’ve made to them that haven’t been paid in full, as of the first day of your conversion month; in MYOB Premier, they’re referred to as historical sales.

Use the following procedure to enter each of your customers’ historical sales:

1.	Click the New button.

Click the New button to display the Historical Sale window.

2.	Enter the customer’s name.

If you can’t recall the name, click the arrow button next to the customer name to display a list of all the customers who have records in your MYOB Premier system.

3.	Enter the invoice number associated with the sale.

If there’s an invoice number or other document number associated with the sale, enter that number in the Sales # field. Otherwise accept the suggested entry that appears in this field.

4.	Enter the date and a description of the sale.

Enter the date of the sale, along with a descriptive comment that will help you identify the sale in the future.

5.	Enter the amount still owed to you.

In the Amount Due field, enter the amount still owed to you.

6.	Record the historical sale.

Click the Record button. The historical sale will become a part of your company’s permanent records.

Repeat this procedure for every sales transaction that hasn’t been paid in full yet.


That's It! You're Done Setting Up Your Sales Information!
That’s It! You’re Done Setting Up Your Sales Information!

You’ve finished setting up your customer information. If you want to go back and review the entries you’ve made, or make a change, click the Back button until the selection you want is displayed; make your change, then click the Next button until this window is displayed again. If you’re ready to continue setting up MYOB Premier, click the Finish button and choose another part of MYOB Premier to set up. If you’ve finished setting up MYOB Premier, you can click the Close button to exit the Easy Setup Assistant.


Step 1: Set Up Purchases

Whatever type of business you operate, you probably have to buy goods or services from other companies. In this portion of the Easy Setup Assistant, you can set up information about your vendors and other purchases-related information. You’ll find the steps in this portion of the Easy Setup Assistant very similar to those you completed for your customers and sales information.

Before you begin using this portion of the Easy Setup Assistant, you may find it helpful to gather together a list of your vendors, along with their addresses, phone numbers and so on. We also recommend that you gather together a list of all the purchases you’ve made that haven’t been fully paid off yet.

You’ll enter this information about your vendors in this part of the setup process. In addition, you’ll indicate the credit terms your vendors generally extend to your company. (MYOB Premier will use these credit terms for all your vendors when you first enter information about them, but you can change the terms for any of your vendors at any time.) You’ll also choose the type of purchase order (service, item, professional or miscellaneous) that you plan to use most often, and you’ll verify that the linked accounts MYOB Premier has chosen for your purchases are indeed the accounts you want to use for these transactions.

You can add information about new vendors at any time, and you can make changes to most of your purchases information at any time, as well. You can learn more about making these changes by reading your Online Procedures Guide. You can choose Procedures Guide from the Help menu to display the Online Procedures Guide.)


Step 2: Choose Your Purchase Order Format

In MYOB Premier, you can record four types of purchase transactions - service, item, professional and miscellaneous. These transactions are recorded as purchase orders, and MYOB Premier provides a separate purchase order format for each type of purchase. In this step, you’ll choose the purchase order format you expect to use most often. The format you choose will be displayed whenever you enter a purchase, but you can choose another format if you like.

Click the radio button next to the format you think you’ll use most often.

You’ll enter all purchases using the Purchases window, regardless of the purchase order format you choose.


Step 3: Choose Your Typical Vendor Credit Terms

The credit terms your vendors assign to you are the guidelines the vendors have set for the number of days you’ll be allowed between delivery and payment, discounts for early payment and penalties for late payment. In this step, you’ll indicate the credit terms - if any - that have been extended to your company. The terms you enter here will appear when you create records for your vendors later on in the Easy Setup Assistant; you can change them for individual vendors if you like.

When you begin entering purchases, discounts based on the terms will be calculated automatically. (You can change the terms and discount amounts at the time you enter them as part of a purchase, if you need to.)

  To set up credit terms


To set up credit terms

1.	Indicate when payments are due to your vendors.

Begin by indicating when payments are due to your vendors. Choose from the following options.

C.O.D.

Prepaid

In A Given Number Of Days

On A Day Of The Month

# Of Days After EOM

Day Of Month After EOM

2.	Set up your standard discount for early payment, if your vendors offer one.

If your vendors offer a discount for making an early payment on your account, use the Discount Days field to enter the number of days the discount is available. (This is the number of days after the transaction date during which the discount applies.) For example, if the transaction date is the 20 April and the number of discount days is 10, a discount would apply if the balance was paid on or before the 30 April.

If you selected On a Day of the Month or Day of Month after EOM in the Payment is Due field, select the day of the month for which the discount applies.

If you select a day in the month that comes before the transaction date, the discount will apply until that day in the next month. For example, if the transaction date is the 20 April and the discount date is 19, a discount would apply if the balance was paid on or before the 19 May.

3.	Indicate when payments are due to your vendors.

Use the Balance Due Days field to enter the number of days after the transaction date that the balance of a transaction is due. For example, if the transaction date is the 20 April and the number of balance due days is 10, the balance must be paid on or before the 30 April.

If you selected On a Day of the Month or Day of Month after EOM in the Payment is Due field, select the day of the month the transaction is due.

If you select a day in the month that comes before the transaction date, the balance won’t be due until that day in the next month. For example, if the transaction date is the 20 April and the balance due date is 19, the balance must be paid on or before the 19 May.

4.	Specify the percentage discount you receive for early payment, if any.

Use the % Discount for Early Payment field to enter the discount percentage your vendors offer to your company if you pay a transaction balance on or before the transaction’s discount due date.

5.	Specify your tax code.

If you’re required to pay sales or use taxes on purchases you make from your vendors, choose the tax code that applies most often to your purchases. If you’re not required to pay these taxes, highlight the default entry and press BACKSPACE to erase the entry.

6.	Specify the credit limit your vendors set most often for you.

If credit has been extended to your company, enter the credit limit your vendors use most often. As with your other choices here, this amount can be changed for individual vendors at any time.

7.	Click the Next button to continue setting up your company.

When you’re satisfied with your entries here, click the Next button to continue with the Easy Setup Assistant.


Step 4: Set Up Bank Information for Electronic Payments

If you wish to pay some or all of your vendors (or employees) by direct credit, enter information about the bank account that will be used to make your electronic payments.

In this window, record the bank code, bank ID and  BSB (Bank-State-Branch) code for the bank where your cheque account is located, the bank account number and the account name. If you're unsure about the information that should be entered here, contact your bank branch to learn more about their requirements.

Mark the Self Balancing Transaction option if your bank requires each electronic file containing payments to vendors or employees to include a self-balancing transaction. Some banks require self-balancing transactions to be included with any electronic payment lodged with them.

To learn more about using MYOB Premier to pay employees by direct credit, refer to the "Paying employees electronically" topic in the Online Procedures Guide.


Step 5: Set Up Your Linked Accounts For Purchases

Every transaction you enter into the MYOB Premier system must be assigned to one or more specific accounts. To reduce your data entry time and the possibility of mistaken assignments, MYOB Premier was designed to automatically assign your transactions to the proper accounts at the time you record the transactions. These accounts are called linked accounts. When you created your data file, MYOB Premier selected accounts from your starter chart of accounts that are most commonly used for specific kinds of transactions.

In this window, review the selections MYOB Premier has made for your purchases.

If you’re not satisfied with the selections MYOB Premier has made for you, click the arrow button next to the first account you want to change. The Select from List window appears, displaying all your accounts. Highlight the account you want to use, and click the Use Account button. The account you selected will replace the one MYOB Premier originally chose for you. Repeat this step for each of the accounts you want to change.

If none of the accounts displayed in the Select from List window seem right, you can create a new account by clicking the New button in that window. The Edit Accounts window will appear. (If you added or changed accounts in the Accounts portion of the Easy Setup Assistant, you’ve used the Edit Accounts window already. Simply repeat your earlier steps to create the new account.)

When you’re satisfied with all of your linked accounts, click the Next button to continue with the Easy Setup Assistant.


Step 6: Create Your Vendor Cards

In this step, you’ll enter information about each of your vendors. MYOB Premier requires that you create a record for each of your vendors, but you can choose to keep as little or as much information as you like for these vendors.

If you’ve kept vendor information in a spreadsheet, another accounting program or some other software program, you can import that information into MYOB Premier. Otherwise, you can enter the information directly.

  To enter new vendor information in MYOB Premier

  To edit a vendor’s information

  To delete a vendor’s information

  To import vendor information


To enter new vendor information in MYOB Premier

Use these instructions to enter information for your vendors if you haven’t been tracking this information in another software program and don’t plan to import your vendor information. Repeat these steps for each of your vendors.

1.	Click the New button.

Click the New button to display the Card File window in the Easy Setup Assistant.

2.	Indicate whether this vendor is a company or an individual.

Click the appropriate radio button to indicate whether this customer is an individual person or a company.

3.	Enter the vendor’s name.

If the vendor is an individual, enter both a first name and a last name for the person.

4.	Enter contact information for the vendor.

Enter contact information for the vendor, including the vendor’s address, a second address (if you use an address that’s different from the vendor’s main address), phone and fax numbers.

5.	Enter identifiers for the vendor, if you like.

If you want to assign identifiers to the vendor, use the Identifiers field to do so. You can enter up to 10 identifiers for each vendor.

6.	Enter a name or title to use in personalised greetings.

Enter a name or title you wish to use in the greeting of a personalised letter for the person or company whose card you’re viewing. For example, if you want to greet a vendor named Kara Watanabe as “Kara,” enter Kara in this field. The personalised letters you create for Kara Watanabe will begin with “Dear Kara.”

7.	Enter a contact person’s name.

If you’re entering information about a business and there’s a particular person you work with there, enter that person’s name in the Contact Name field. Enter any additional notes about the vendor in the Notes field.

8.	Modify the credit terms, if necessary.

If the credit terms this vendor has extended to you are different from those you set up earlier using the Easy Setup Assistant, click the Terms button. The Credit Terms window will appear, and you can make any changes that are needed. The changes you make here will affect purchase orders for this vendor only.

9.	Click OK.

When you’re satisfied with your entries for this vendor, click OK.


To edit a vendor's information
To edit a vendor’s information

1.	Highlight the vendor’s name and click the Edit button.

Click on the name of the vendor whose information you want to change to highlight it. Then click Edit; the Card File window will open. You’ll use this window to edit the information.

2.	Make the changes you wish to make.

You can change any of the information you’ve already entered for this vendor.

3.	Click OK.

Click OK when you’re satisfied with the entries you’ve made.


To delete a vendor's information
To delete a vendor’s information

Click on the name of the vendor whose information you want to delete to highlight it. Then click the Delete button; the vendor’s information will be removed from your data file.


To import vendor information

If you’ve been using a spreadsheet program or another accounting program to keep track of your vendors, you may want to use this information in MYOB Premier. You can use the instructions below to import your existing vendor information into your MYOB Premier data file.

  If you want some help with the importing process

1.	Export the data you want from the software program you’ve used to create the data.

Export the data you want, using the program where the information currently is located. Consult the manuals or online help for that program if you’re unsure about how to export the data. For example, if you’ve used a spreadsheet program to track your data in the past, you should use that spreadsheet program to export the information you want to use in MYOB Premier.

The data you export must be stored in a file, known as an import file, that uses either the tab-delimited or comma-separated file format. These formats are described below:

2.	Make a backup of your MYOB Premier data file.

Although problems don’t often occur when you import data, you’ll be making changes to your data file that will be difficult to undo. As a precaution, we strongly recommend that you make a backup of your data file before you begin importing information into it. Refer to your Online Procedures Guide to learn how to back up your data file.

3.	Return to the Easy Setup Assistant and click Import to begin importing the data.

Return to the Purchases portion of the Easy Setup Assistant, and click the Import button in the Create Your Vendor Cards window.

4.	Select the file format you used when you created the import file.

In the Import File Format field, select the file format of the import file you created in step 1.

5.	Indicate whether the first record in the file is a header record or a data record.

In the First Record Is field, select whether the first record in the import file is a header record or a data record.

6.	Indicate how you want duplicate records to be handled.

In the Duplicate Records field, select whether to reject duplicate records, update existing records or add new records if you have vendors with the same name.

If you attempt to import a record for a vendor whose name is the same as another vendor, MYOB Premier will reject the record, update the information for the existing record in your data file, or create a separate record for the second vendor, depending upon your selection here.

(In most cases, you’ll want to choose the Add Them option, since it’s possible to have two or more vendors with the name “John Jones” or “Acme Supply.” )

7.	Locate the import file.

After you’ve made your selections in the Import File window, click Continue. A dialog box appears, allowing you to locate your import file. Locate the file and click OK (Windows) or Open (Macintosh).

8.	Match the fields in the import file with those in your MYOB Premier data file.

The Import Data window appears. In this window, you’ll match the information in the import file with its corresponding fields in MYOB Premier. To do this, highlight the name of a field in your import file from the Import Fields column.

Then click the MYOB field in the MYOB Premier Fields column that you want to match the import field with. When you click the MYOB Premier Fields column, the import field you selected will appear in the Matching Import Field column.

If you want to remove an import field’s name from the Matching Import Field column, simply click the import field’s name.

Note: The Co./Last Name field must be imported. MYOB Premier fields whose names have asterisks (*) next to them must have matching import file fields assigned to them. When you import vendor information, the company name or individual’s last name is the only field that must be imported.

If all the fields in the import file match the fields in the MYOB Premier Fields column, you can match all the fields at one time by clicking the Match All button at the bottom of the window.

9.	Click Import to begin importing the data.

When you’re done matching fields, click the Import button to begin the importing process.

During the importing process, the Import Log report is created. This report lists information about any problems that occurred during the importing process, as well as information about rejected duplicate records. This report is created as a file, and is located in the same place on your computer as your data file.

Each time you import, the Import Log report is created, using the same name. If an Import Log report already exists when you create another one, the existing report will be removed.


Step 7: Enter Your Historical Purchases

Now that you’ve entered information about your vendors, it’s time to enter information about any outstanding transactions you may have with them. These are purchases you’ve made from them that haven’t been paid in full, as of the first day of your conversion month; in MYOB Premier, they’re referred to as historical purchases.

Use the following procedure to enter each of your historical purchases:

1.	Click the New button.

Click the New button to display the Historical Purchase window.

2.	Enter the vendor’s name.

If you can’t recall the name, click the arrow button next to the vendor name to display a list of all the vendors who have records in your MYOB Premier system.

3.	Enter the invoice number associated with this purchase.

If there’s an invoice number or other document number associated with the purchase, enter that number in the Purchase # field. Otherwise accept the suggested entry that appears in this field.

4.	Enter the date and a description of the sale.

Enter the date of the purchase, along with a descriptive comment that will help you identify the purchase in the future.

5.	Enter the amount you still owe.

In the Amount Due field, enter the amount you still owe.

6.	Record the historical purchase.

Click the Record button. The historical purchase will become a part of your company’s permanent records.

Repeat this procedure for every purchase that hasn’t been paid in full yet.


That's It! You're Done Setting Up Your Purchase Information!
That’s It! You’re Done Setting Up Your Purchase Information!

You’ve finished setting up your vendor information. If you want to go back and review the entries you’ve made, or make a change, click the Back button until the selection you want is displayed; make your change, then click the Next button until this window is displayed again. If you’re ready to continue setting up MYOB Premier, click the Finish button and choose another part of MYOB Premier to set up. If you’ve finished setting up MYOB Premier, you can click the Close button to exit the Easy Setup Assistant.


Header Accounts

Header accounts are used as titles of groups of accounts.

Header accounts are used only for grouping accounts of a similar purpose. Typically, header accounts have detail accounts under them; that is, detail accounts are assigned to specific header accounts. In the list in the left-hand side of the Accounts List window, header accounts appear in bold type, and their detail accounts appear below them in plain type at the next level.

Transaction amounts can’t be assigned (posted) to header accounts - only to detail accounts.

Header accounts aren’t required in MYOB Premier, except for the five Level 1 accounts (asset, liability, income, expense, cost of sales, equity, other income and other expense). The header accounts you create must be either Level 2 or Level 3.


Detail Accounts

Detail accounts are the MYOB Premier accounts that have transactions assigned to them.

Each detail account is assigned to the header account that appears directly above it in the list in the left-hand side of the Accounts List window. Detail accounts appear in plain type, and header accounts appear in bold type.

Transaction amounts can be assigned (posted) to detail accounts; that is, when you enter a transaction in MYOB Premier, you can enter the number of a detail account. The amount of the transaction will then be included in the balance of the detail account.

Detail accounts can be Level 2, Level 3 or Level 4.


Tab-delimited File Format

Tab-delimited files contain fields that are separated by tab characters. For example, if a tab character appears between "Brewster" and "300 Roundhill Drive" in a file of customer information, the file counts "Brewster" and "300 Roundhill Drive" as two separate fields in a record.

Tab-delimited files are often used by popular spreadsheet and worksheet programs.


Comma-separated File Format

Comma-separated files contain records that are separated by commas. For example, if a comma appears between "Brewster" and "300 Roundhill Drive" in a file of customer information, the file counts "Brewster" and "300 Roundhill Drive" as two separate fields in a record.

Comma-separated files are often used by popular database programs.


Item Invoices

Item invoices are used to record the purchase of items for which you selected I Sell This Item in the Item Information window. When you record an item invoice, your in-house quantities of the items for which you also selected I Inventory This Item in the Item Information window (also known as inventoried items) listed on the purchase order will change accordingly. You can print item invoices and send them to your customers, if you wish.


Service Invoices

Service invoices are used to record the sale of items and services that you didn’t enter information about in the Invoice Item Information window. You can print service invoices and send them to your customers, if you wish.


Professional Invoices

Professional invoices are also used to record the sale of items and services that you didn’t enter information about in the Invoice Item Information window, and include the specific date each item was sold. You can print professional invoices and send them to your customers, if you wish.


Time Billing Invoices

Time billing invoices are used to record the sale of services or activities for which you've entered information in the Activity Information window. You can enter line items in the Time Billing View of the Sales window by entering billing amounts for activity slips in the Prepare Time Billing Invoice window or by entering line items manually.


Miscellaneous Invoices
Miscellaneous Sales

Miscellaneous sales are used to record the sale of items and services that you didn’t enter information about in the Invoice Item Information window, and that don’t require a printed invoice.


Header Records

Header records are usually used as titles in import files; for example, some header records in an import file of customers might be titled "Customer Name," "Address" and "Telephone Number." If you indicate that your import file’s first record is a header record, that record won’t be imported into MYOB Premier.


Data Records

Data records are actual information that you want to include in your MYOB Premier data file. If you indicate that your import file’s first record is a data record, that record will be imported into MYOB Premier.


Service Purchase Orders

Service purchase orders are used to record the purchase of items and services You can print service purchase orders and send them to your vendors, if you wish.


Professional Purchase Orders

Professional purchase orders are also used to record the purchase of items and services that you didn’t enter information about in the Item Information window, and include the specific date each item was purchased. You can print professional purchase orders and send them to your vendors, if you wish.


Item Purchase Orders

Item purchase orders are used to record the purchase of items for which you selected I Buy This Item in the Item Information window. When you record an item purchase order, your in-house quantities of the items for which you also selected I Inventory This Item in the Item Information window (also known as inventoried items) listed on the purchase order will change accordingly. You can print item purchase orders and send them to your vendors, if you wish.


Miscellaneous Purchase Orders
Miscellaneous Purchases

Miscellaneous purchases are used to record the purchase of items and services that don’t require a printed purchase order.


C.O.D.

The balance of the transaction is due at the time the items are delivered.


Prepaid

The balance of the transaction is due at the time the transaction occurs. (In other words, no credit is extended to your customers.)


In A Given Number Of Days

The payment due date and early payment discount date are based on a number of days since the transaction date.


On A Day Of The Month

The payment due date and early payment discount date are based on the month in which the transaction was recorded and the selections you make in the Discount Date and Balance Due Date fields. For example, if the transaction was recorded in April, the discount date is 10th (the first of the month) and the balance due date is EOM, a discount would apply if the balance was paid by April 10 and the entire balance would be due April 30.


# Of Days After EOM

The payment due date and early payment discount date are based on a number of days after the end of the month.


Day Of Month After EOM

The payment due date and early payment discount date are based on the month after which the transaction was recorded and the selections you make in the Discount Date and Balance Due Date fields. For example, if the transaction was recorded in April, the discount date is 1st (the first day of the following month) and the balance due date is EOM, a discount would apply if the balance was paid by May 1 and the entire balance would be due May 31.


Identifiers

Identifiers are one-letter labels you can assign to cards in MYOB Premier to help you organise your cards into groups that are more specific than just Employee, Customer, Vendor or Personal. When you create reports or view information about cards throughout the MYOB Premier system, you can limit the information you view to that of a specific group of cards by indicating the identifiers you’ve assigned to the cards in that group. For example, you could use the letter W to identify your wholesale customers and R to identify your retail customers. Then you could print reports that show information for only one group of customers or the other, or for both groups together.

(If you want to enter descriptions for your identifiers, click the arrow that appears next to the Identifiers window. The Identifiers window will appear, and you can make your entries. Click OK when you’ve finished making entries in the Identifiers window.)


Prepaid

The balance of the transaction is due at the time the transaction occurs. (In other words, no credit has been extended to your company.)


Step 1: Welcome!

When you make entries in MYOB Premier, that information is stored within one physical file in your computer, called a "data file." (Think of your filing cabinet, if you have one - MYOB Premier’s data file is a lot like a computerised filing cabinet, with all sorts of information about your business stored in it.) This file allows you to work with your company’s financial information without expending a lot of time and effort on your computer’s file storage system.

The tool you're using right now is called a "assistant." In MYOB Premier, assistants are series of interactive windows containing options that help you reach a particular goal. When you have finished making entries and selections in this assistant, the New Data File Assistant will create a new data file for your company.


Step 2: Enter Your Company's Name and Address
Step 2: Enter Your Company’s Name and Address

Your company's name and address will appear in many places throughout the MYOB Premier system. Your company's name will appear at the top left corner of all MYOB Premier command centres, and, if you wish, you can also print your company name on your MYOB Premier reports. The address you enter here can be printed on your MYOB Premier invoices and purchase orders, as well.


Step 3: Enter Your Company's Tax Identification Numbers
Step 3: Enter Your Company’s Tax Identification Numbers

Enter your Australian Business Number (A.B.N.) and your Australian Company Number (A.C.N.), if your business is registered as a company. If your business has been assigned a sales tax exemption number by the Australian Taxation Office, enter your number in the Sales Tax Number box. If you are unsure of your business’s ABN, ACN or Sales Tax exemption number, consult your accountant.

These numbers will appear on various MYOB Premier documents you print.


Step 4: Enter Your Company's Financial Year

For most Australian companies, the financial year ends on the 30th of June.

When your financial year is different from the calendar year, it usually takes the name of the calendar year in which it ends. For example, if your financial year is from the 1st October 1999 to the 30th September 2000, the year usually is referred to as " financial year 2000."

Note: If you plan to begin using MYOB Premier during your next financial year, rather than the current one, enter the name of the next financial year here.


Step 5: Enter Your MYOB Premier Conversion Month

To start your MYOB Premier experience on the right foot, use this step to choose the month in which you plan to begin tracking your company's finances using MYOB Premier. Since it's best to begin using a new accounting system at the start of a month, you might want to consider selecting next month as your conversion month. The choice, however, is up to you; the only thing to remember is that you can choose only a month in the financial year you entered in the previous step.

July appears as the suggested conversion month, since that’s when most businesses begin their financial year. If you plan to begin using MYOB Premier at some other time, select that month.


Step 6: Enter the Number of Accounting Periods in Your Company's Financial Year

Most companies need only 12 accounting periods - one period for each month - to track their finances during the financial year.

Some companies, however, make a significant number of year-end adjustments. If they use only a 12-period financial year, those adjustments will usually be assigned to the 12th period. When that happens, the final month's accounting records probably won't accurately reflect what actually happened during that month.

To remedy this situation, you can choose to use 13 accounting periods in your MYOB Premier financial year. The 13th period isn't an actual period of time; it's merely a "placeholder" period that contains your year-end adjustments. When it's time to make adjustments at the end of the year, you can assign the adjustments to the 13th period so your final month's accounting records remain accurate.


Step 7: Review Your Entries

When the New Data File Assistant creates your data file a few steps from now, it will use the information in this window as the foundation of the data file. Once the data file is created, you won't be able to change this information. Please review these entries carefully to ensure you've made the entries you want.


Step 8: Choose a Chart of Accounts For Your Company

An "account" is a tool used to organise a business. Accounts keep track of the financial additions and subtractions that occur in regular business activity. A "chart of accounts" is merely a list of all the accounts that are used to track a business.

Generally speaking, most businesses require a specific chart of accounts. In this step of the New Data File Assistant, you can select a chart for your company from more than 80 typical charts of accounts. If you don't find your exact business type in the list, try to find a similar business type. You'll be able to tailor the chart to your exact business's needs at a later time.

If none of the business types in the list seem acceptable for your company, choose the chart called "Build Your Own." When you make this choice, MYOB Premier will provide you with only a few required accounts; you'll need to add all the other accounts you need to track your business at a later time. Because this option requires additional work, we suggest that you choose the "Build Your Own" chart only as a last resort.


Step 9: Enter Your User ID

In MYOB Premier, user IDs keep track of the actions of each person, or user, who performs tasks that affect your data file. Whenever a user adds or changes transactions in a data file, that person's user ID will be attached to the information that was added or changed. This allows you to quickly see who's been changing your company's data file.

Enter a user ID to identify yourself in the new data file. When you're finished, click Next.


Step 10: Select File Access and Protocol

In this step, you’ll specify how you want your data file to be opened when you first create it. Choose Single-user Access if you wish to limit access to the data file until you complete setup, for example. If you choose the Single-user Access option, no one else will be able to open the new data file until you exit the file.

Choose Multi-user Access if you want your coworkers to have access to the data file right away. If you choose the Multi-user Access option, you must also specify the network protocol that will be used to manage the way you and other users will work with one another and the MYOB Premier data file. The protocol options that are available to you depend upon whether you’re using MYOB Premier on a Windows computer or a Macintosh.

Windows: You can choose between NetBIOS/NetBEUI and TCP/IP protocols.

Macintosh: You can choose between AppleTalk and TCP/IP protocols.

The protocols that appear in the drop-down list are those that are compatible with MYOB Premier; they may or may not be installed on your computer. (If you’re using a Macintosh computer, AppleTalk is a part of your computer’s operating system, and this option is always available to you.)

If you’re unsure about which protocols might be available on your computer or if you’d like a better understanding of these protocols, consult the Networking with MYOB Premier help file.

The selections you make in this step apply only to the first time you open your new data file. When you open the data file in the future, you can make other selections if you like.


Step 11: Name Your MYOB Premier Data File

The name and location of your data file are very important. Each time you start MYOB Premier, you'll need to know the name and location of your data file so you can open it and enter information in it.

When you click the Next button in this step, a dialog box (a special type of window) will appear. In the dialog box, you'll notice that the New Data File Assistant has already suggested a name and location for your data file. If you have little experience with computers, or even if you're knowledgeable about computers, we recommend that you accept these suggested names by clicking the OK button in the dialog box. By doing so, you'll ensure that finding your data file will be much easier when you need it.

Note for those who plan to keep books for more than one company: If you're keeping accounting information for more than one company, you can't use the suggested name more than once. Enter a different name for your additional companies' data files. If you use the suggested name a second time, all the information for the first company you set up will be lost.


Step 12: That's It! You're Done!

Your new data file has been created by the New Data File Assistant. Congratulations!

At this point, the new data file doesn't contain much information about your company. Your next task is to set up the data file so it contains all your company's existing business information. To help you with this important task, MYOB Premier provides another assistant, the Easy Setup Assistant, which can be started by clicking the Setup Assistant button.


Step 1: Set Up Payroll

You’ll probably find that it takes you longer to set up your payroll information than it did to set up your information in other areas of MYOB Premier, particularly if you employ several people. Your effort here will be rewarded on payday, though; if you’ve been calculating paycheques manually, you’ll find that these cheques are much quicker and easier to calculate and print.

In this portion of the Easy Setup Assistant, you’ll enter information about the payroll taxes your company pays; information about the current payroll year, including wages paid, deductions made and so on; the accounts you want to use to track payroll information; the payroll categories you use; and information about your employees, their tax status and pay history.

You may find it easiest to click the Next button to review the entries you’ll need to make. If you do this, be prepared to specify the linked accounts that you’ll use for your payroll transactions. You can enter all the other information later, but you’ll have to enter the accounts you want to use before going on to later steps in the Easy Setup Assistant. When you’ve finished reviewing the entries in this portion of the assistant, click the Back button to return to the current step.


Step 2: Load Current Payroll Tax Tables

Tax tables are used to determine the amounts that should be withheld for PAYE tax when you print paycheques. If you’ve never used MYOB Premier before, these tax tables need to be installed so accurate paycheques can be printed. Simply click the Next button; the tables will be loaded automatically for you, and you can go on to the next step in the Easy Setup Assistant.

If you’ve set up information for other companies in MYOB Premier already, your tax tables may be up to date already. (A message will appear in the Easy Setup Assistant to let you know if this is the case.) Again, click the Next button; you can continue with the next step in the Easy Setup Assistant.

  About MYOB Australia’s MYOB Cover Plan


About MYOB Australia's MYOB Cover Plan

Your MYOB Premier Payroll tables become obsolete whenever the federal government makes changes to the current tax laws. For example, if the government increases the basic payroll tax to a new percentage, your tax tables will be out of date. Typically, tax laws change a couple times each year.

MYOB Australia closely monitors the changing tax laws and prepares updated tax tables as soon as percentages and amounts change. If you’re a subscriber to our MYOB Cover Plan, MYOB Australia will provide you with updated tax tables, along with access to knowledgeable technical support specialists who are prepared to answer any questions that may arise while you use MYOB Premier.

To learn more about the MYOB Cover Plan, call 1 800 555 223.


Step 3: Enter Your Current Payroll Year

Your company’s payroll year is always structured on a payroll year basis; that is, it’s 12 months long and ranges from July to June. It’s possible that your payroll year and fiscal year aren’t structured the same, and that’s okay.

Like fiscal years, payroll years are identified by the calendar year in which they end. For example, payroll year 1999 begins on the 1 July 1999, and ends on the 30 June 2000.

If you want to start writing paycheques in the current year, enter the current year in this field. If you want to start writing paycheques next year, enter next year in this field. This field displays the name of your current fiscal year as a suggested entry. (You identified your current fiscal year when you created your company’s data file using MYOB Premier’s New Data File Assistant.)


Step 4: Confirm Your Payroll Year

It’s important to be sure that you’ve indicated the correct year for your payroll year. Once you go on with the Easy Setup Assistant, you won’t be able to change your selection. If you make a mistake now and continue with the setup process, you’ll have to create a new data file and start the setup process all over again.

If you plan to begin printing paycheques in the payroll year that’s indicated, you’re ready to go on with the Easy Setup Assistant.

If you plan to start printing paycheques in the next payroll year, change your entry to indicate that year, then go on with the Easy Setup Assistant.


Step 5: Enter The Number Of Hours In Your Work Week

Enter the number of hours in your company’s typical work week. The number you enter here will be used to calculate wages and withholding amounts on paycheques.

Keep in mind that the number you should enter here is the number of hours in a single work week, not the hours in a pay period. MYOB Premier will use the number you enter here to properly calculate the hours and dollar amounts in your pay period.


Step 6: Enter Your Company's Employer Tax Information
Step 6: Enter Your Company’s Employer Tax Information

Your company should have been assigned a Group Number for tax reporting purposes by the Australian Taxation Office. In this step, enter that number in the appropriate field.

If you wish to round down the net wage amounts paid to your employees by a multiple of five cents, also enter the amount you wish to round to. For example, if you enter 10, an employee whose net wage amount is calculated to be $500.96 will be paid $500.90.


Step 7: Enter Your Company's Bank Information
Step 7: Enter Your Company’s Bank Information

If you wish to pay some or all of your employees (or vendors) by direct credit, enter information about the bank account that will be used to make your electronic payments.

In this window, record the bank code, bank ID and  BSB (Bank-State-Branch) code for the bank where your cheque account is located, the bank account number and the account name. If you're unsure about the information that should be entered here, contact your bank branch to learn more about their requirements.

Mark the Self Balancing Transaction option if your bank requires each electronic file containing payments to employees or vendors to include a self-balancing transaction. Some banks require self-balancing transactions to be included with any electronic payment lodged with them.

To learn more about using MYOB Premier to pay employees by direct credit, refer to the "Paying employees electronically" topic in the Online Procedures Guide.


Step 8: Set Up Your Linked Accounts For Payroll

Every transaction you enter into the MYOB Premier system must be assigned to one or more specific accounts. To reduce your data entry time and the possibility of mistaken assignments, MYOB Premier was designed to automatically assign your transactions to the proper accounts at the time you record the transactions. These accounts are called linked accounts. When you created your data file, MYOB Premier selected accounts from your starter chart of accounts that are most commonly used for specific kinds of transactions.

In this window, review the selections MYOB Premier has made for your paycheque, employer expense, wages paid, and deductions and expenses amounts.

If you’re not satisfied with the selections MYOB Premier has made for you, click the arrow button next to the first account you want to change. The Select from List window appears, displaying all your accounts. Highlight the account you want to use, and click the Use Account button. The account you selected will replace the one MYOB Premier originally chose for you. Repeat this step for each of the accounts you want to change.

If none of the accounts displayed in the Select from List window seem right, you can create a new account by clicking the New button in that window. The Edit Accounts window will appear. (If you added or changed accounts in the Accounts portion of the Easy Setup Assistant, you’ve used the Edit Accounts window already. Simply repeat your earlier steps to create the new account.)

When you’re satisfied with all of your linked accounts, click the Next button to continue with the Easy Setup Assistant.


Step 9: Set Up Your Company's Wages
Step 9: Set Up Your Company’s Wages

MYOB Premier provides you with a number of common wage categories that you can assign to your employees later in the setup process. Review the list to see whether all the types of wages your company uses are included. It’s also a good idea to review the setup information for all the wages to be sure it matches the way you do business.

Wages are determined on an hourly, salary or other basis. Some examples of wages are salary, bonus, commission, holiday pay, sick pay and overtime.

  To add a new wage

  To edit a wage

  To delete a wage


To add a new wage

You can repeat this task as many times as needed.

1.	Click the New button.

The Wages Information window will appear.

2.	Enter a name for the wage.

Enter a descriptive name for the wage in the Wages Name field.

3.	Indicate whether the wage is a salary or an hourly wage.

Click the appropriate radio button to indicate whether this wage is a salary or an hourly wage.

4.	For hourly wages, indicate the pay rate.

If this is an hourly wage, indicate the pay rate for the wage. You can choose to use a pay rate that’s a multiple of the base pay for each employee who’s assigned this wage; for example, if you offer double-time pay to employees who work on holidays, you could click the Regular Rate Multiplied By selection, then enter 2 in the field next to the selection.

You also can choose to use a fixed hourly rate - that is, a rate that is a flat dollar amount and isn’t based on the employees’ regular rate of pay. If you choose this option, also enter the hourly rate you plan to pay.

5.	Specify a different wage expense account for this wage, if you like.

If you want to track this wage with an account different from your wage expense account, mark the Override Employees’ Wage Expense Account option. Also enter the account you want to use in the Override Account field.

6.	Click OK.

Review your entries. When you’re satisfied with them, click OK.


To edit a wage

1.	Highlight the wage and click the Edit button.

Click on the name of the wage you want to change to highlight it. Then click Edit; the Wages Information window will open. You’ll use this window to edit the information.

2.	Make the changes you wish to make.

You can change any of the information you’ve already entered for this wage.

3.	Click OK.

Click OK when you’re satisfied with the entries you’ve made.


To delete a wage

Click the wage you want to delete to highlight it. Then click the Delete button; the wage will be removed from your data file. Note: You can’t delete the Base Hourly or the Base Salary wages.


Step 10: Set Up Your Company's Holiday and Sick Leave Entitlements
Step 10: Set Up Your Company’s Holiday and Sick Leave Entitlements

Hours accumulated on paycheques that form the basis of special wages like holiday pay or sick pay are called entitlements. Each entitlement is linked to an hourly wage. When these wages are distributed on paycheques, the number of hours distributed in these wages is subtracted from the number of hours accrued.

  To add a new entitlement

  To edit an entitlement

  To delete an entitlement


To add a new entitlement

You can repeat this task as many times as needed.

1.	Click the New button.

The Entitlement Information window will appear.

2.	Enter a name for the entitlement.

Enter a descriptive name for the entitlement in the Entitlement Name field.

3.	Indicate how the entitlement will be calculated.

Click the appropriate radio button to indicate how this entitlement will be calculated. Choose from the following options:

User-Entered Amount per Pay Period

Equals __ Percent Of

Equals __ Hours per

For entitlements you assign to salaried employees, we recommend that you choose the User-Entered Hours Per Pay Period or the Hours Per selections. Since hours don’t typically appear on salaried employees’ paycheques, no entitlement hours can be calculated automatically using entitlements using the Percent Of selection.

Entitlement hours for salaried employees must still be linked to an hourly wage, however - you’ll perform this task in step 5 - and you’ll distribute entitlement wages on salaried employees’ paycheques by entering a number of hours in the Write Paycheques window. The value of the hours you enter in the Write Paycheques window is calculated from the employee’s salary and the number of hours in your company’s work week. More information about distributing entitlement wages appears in your User’s Guide.

4.	Indicate whether accrued amounts can be carried over to the next payroll year.

Mark the Carry Remaining Leave Over to Next Payroll Year selection if you want any unused entitlement hours from the current payroll year to remain in this entitlement after the start of a new payroll year. If you mark this selection, the hours remaining in this entitlement at the end the payroll year will appear automatically as hours accrued for July in the next payroll year.

5.	Link the entitlement to an hourly wage category.

Select the hourly wage to which you want to link this entitlement. When you pay an employee using the wage you specify here, the number of hours you enter for this wage will be subtracted from the number of hours the employee has accrued. For example, if you select a Holiday Pay wage here, anytime you use that wage to pay employees, this entitlement will be reduced by the number of hours you enter.

6.	Click OK.

Review your entries. When you’re satisfied with them, click OK.


To edit an entitlement

1.	Highlight the entitlement and click the Edit button.

Click on the name of the entitlement you want to change to highlight it. Then click Edit; the Entitlement Information window will open. You’ll use this window to edit the information.

2.	Make the changes you wish to make.

You can change any of the information you’ve already entered for this wage.

3.	Click OK.

Click OK when you’re satisfied with the entries you’ve made.


To delete an entitlement

Click the entitlement you want to delete to highlight it. Then click the Delete button; the entitlement will be removed from your data file.


User-Entered Amount Per Pay Period

Choose User-Entered Amount Per Pay Period if you want to enter the amount accrued when you create paycheques.


Equals __ Percent Of

Choose the Equals __ Percent Of option if you want this entitlement to be incremented on every paycheque as a percentage of hourly wages. If you choose this selection, enter a percentage and select the hourly wages from the list to indicate which hours the percentage will be based upon.

The percentage you enter here depends upon how you want your employees’ holiday days to be accrued.  If you want your employees to accrue a specific number of holiday days per year as a percentage of hourly wages on every paycheque, you’ll need to divide the total number of holiday hours your employees accrue in a year by the number of hours they work in a year to come up with the exact percentage you should enter in this field.

For example, assume your employees receive 20 holiday days per year. Based on a 40-hour work week, they actually receive 160 holiday hours per year and are available to work 2,080 per year (52 40-hour weeks). Divide 160 by 2,080; this equals .076923, or 7.6923%. Percent Of and enter 7.6923 for the percentage here.

Select Gross Hours from the Percent Of list if you want this entitlement to be a percentage of all hourly wages you pay an employee.

Select Federal Hours from the Percent Of list if you want this entitlement to be a percentage of all taxable hourly wages you pay an employee. This selection excludes those hourly wages that you’ve made exempt from tax.


Equals __ Hours per

Choose this selection if you want this entitlement to be incremented by a specific number of hours. If you choose this selection, enter a number of hours and select a time period – Pay Period, Month or Year– from the list to determine the number of hours that will accrued on each paycheque, regardless of the number of hours the employee worked.


Step 11: Set Up Your Company's Deductions
Step 11: Set Up Your Company’s Deductions

In MYOB Premier, deductions are any amounts other than taxes subtracted from an employee’s gross pay. MYOB Premier provides you with a number of common deduction categories that you can assign to your employees later in the setup process. Review the list to see whether all the deductions your company uses are included. It’s also a good idea to review the setup information for all the deductions to be sure it matches the way you do business.

  To add a new deduction

  To edit a deduction

  To delete a deduction


To add a new deduction

You can repeat this task as many times as needed.

1.	Click the New button.

The Deduction Information window will appear.

2.	Enter a name for the deduction.

Enter a descriptive name for the deduction in the Deduction Name field.

3.	Review the linked payable account for this deduction.

Review the linked payable account that appears, to be sure it’s the account you want to use for this deduction.

The Linked Payable Account fields of the Deduction Information, Employer Expense Information and Tax Table Information windows allow you to enter the account that tracks the amounts withheld from employee payroll cheques, as well as the amounts owed to the government by your company as employer expenses. In MYOB Premier documentation, this account is referred to as your withholding payable account.

  You can use different accounts in these fields

4.	Choose the type of deduction you plan to make.

Choose the User-Entered Amount Per Pay Period selection if you want to manually enter the dollar amount subtracted for this deduction on employee payroll cheques.

Choose the Equals __ Percent Of selection if you want a percentage of a wage to be subtracted from employee payroll cheques. If you choose this selection, enter a percentage and select a wage from the list to indicate which wage the percentage will be based on. You can choose any of the wages you worked with in the previous step in the Easy Setup Assistant, gross wages (if the deduction is to be based on the employees’ total pay) or taxable wages.

Choose the Equals __ Dollars Per selection if you want a specific dollar amount to be subtracted from employee payroll cheques. If you choose this selection, enter a dollar amount and select a time period - Pay Period, Month, Year or Hour - from the list to determine the amount that will be deducted from each payroll cheque.

5.	Specify a deduction limit for this deduction.

This deduction will be subtracted from employees’ cheques until the limit you specify is reached. If the cheques are greater than the limit you specify, the deduction won’t be taken from the amount that exceeds the limit.

Choose the No Limit selection if there’s no limit on the amount of money that can be subtracted from an employee’s payroll cheque by this deduction.

Choose Equals __ Percent Of selection if the limit you want to set for this deduction is a percentage of a wage. If you choose this selection, enter a percentage and select a wage from the list to indicate which wage the percentage will be based on.

Choose the Equals __ Dollars Per selection if the limit you want to set is a specific dollar amount. If you choose this selection, enter a dollar amount and select a time period - Pay Period, Month or Year - from the list to determine the maximum amount that can be deducted from each payroll cheque.

6.	If the deduction is exempt from taxes, identify those taxes.

If the deduction is exempt from one or more taxes, click the Exempt button to open the Deduction Exemptions window. Click the taxes that should not be applied to this deduction. An X will appear next to the taxes you’ve selected. (To unmark a tax you’ve marked accidentally, simply click it again.)

The deduction will be subtracted from your employees’ gross pay before the selected taxes are calculated.

When you’re satisfied with your selections, click OK. The Deduction Information window will reappear.

7.	Click OK.

Review your entries. When you’re satisfied with them, click OK.


You can use different accounts in these fields

For most businesses, the same account is used in the Linked Payable Account field in the Deduction Information, Employer Expense Information and Tax Table Information windows. If you wish to track withholding amounts separately, you can use different accounts in these fields.


To edit a deduction

1.	Highlight the deduction and click the Edit button.

Click on the name of the deduction you want to change to highlight it. Then click Edit; the Deduction Information window will open. You’ll use this window to edit the information.

2.	Make the changes you wish to make.

You can change any of the information that’s already been entered for this deduction.

3.	Click OK.

Click OK when you’re satisfied with the entries you’ve made.


To delete a deduction

Click the deduction you want to delete to highlight it. Then click the Delete button; the deduction will be removed from your data file.


Step 12: Set Up Your Company's Employer Expenses
Step 12: Set Up Your Company’s Employer Expenses

Employer expenses are any amounts that your company pays for taxes, benefits and the like which are based on your employees’ wages. MYOB Premier provides you with a number of common employer expense categories that you can assign to your employees later in the setup process. Review the list to see whether all the employer expenses that apply to your company are included. It’s also a good idea to review the setup information for all the expenses to be sure it matches the way you do business.

  To add a new employer expense

  To edit an employer expense

  To delete an employer expense


To add a new employer expense

You can repeat this task as many times as needed.

1.	Click the New button.

The Employer Expense Information window will appear.

2.	Enter a name for the expense.

Enter a descriptive name for the deduction in the Employer Expense Name field.

3.	Review the linked payable accounts for this expense.

Review the linked payable accounts that appear, to be sure they’re the accounts you want to use for this employer expense.

The Linked Expense Account field of the Employer Expense Information window allows you to enter an account that tracks the amounts you owe for the employer expense currently displayed in the Employer Expense Information window. In MYOB Premier documentation, this account is referred to as your employer expenses account.

The Linked Payable Account fields of the Deduction Information, Employer Expense Information and Tax Table Information windows allow you to enter the account that tracks the amounts withheld from employee payroll cheques, as well as the amounts owed to the government by your company as employer expenses. In MYOB Premier documentation, this account is referred to as your withholding payable account.

  You can use different accounts in these fields

4.	Choose the type of expense you’re creating.

Choose Superannuation if you're creating a record for a superannuation expense. If this expense record is for another type of expense, such as workers' compensation premiums, choose Other.

5.	Choose the type of expense you’re creating.

Choose the  Equals __ Percent Of selection if you want this employer expense to cost your business a percentage of a specific wage or deduction. If you choose this selection, enter a percentage and select a wage or deduction from the list to indicate which wage or deduction the percentage will be based on. An example of this selection is an employer expense for a life insurance program. If your company pays 50% of your employees’ life insurance deductions, enter 50 in this field and select the life insurance deduction from the list. This selection appears only for expenses with a type of Other.

Choose the Equals __ Dollars Per selection if you want this employer expense to cost your business a specific dollar amount over a specific period of time. If you choose this selection, enter a dollar amount and select a time period - Pay Period, Month or Year - from the list. This selection appears only for Other types of expenses.

6.	Specify a limit for this expense.

If the calculated expense amount is greater than the limit you specify, the expense won’t be calculated on the amount that exceeds the limit.

Choose the No Limit selection if there’s no limit on the amount of money that you can owe from this employer expense. This selection appears only for Other types of expenses.

Choose Equals __ Percent Of selection if the maximum amount of money that you want this employer expense to cost your business is a percentage of a specific wage or deduction. If you choose this selection, enter a percentage and select a wage or deduction from the list to indicate which wage or deduction the percentage will be based on. This selection appears only for Other types of expenses.

Choose the Equals __ Dollars Per selection if the maximum amount of money that you want this employer expense to cost your business is a specific dollar amount. If you choose this selection, enter a dollar amount and select a time period - Pay Period, Month or Year - from the list. This selection appears only for Other types of expenses.

7.	If this expense isn’t paid on some wages, identify those wages.

If the employer expense isn’t based on all of your company’s wage categories, click the Exempt button to open the Employer Expense Exemptions window. Click the wage categories that this expense does not apply to. An X will appear next to the wage categories you’ve selected. (To unmark a wage category you’ve marked accidentally, simply click it again.)

When you’re satisfied with your selections, click OK. The Employer Expense Information window will reappear.

8.	Click OK.

Review your entries. When you’re satisfied with them, click OK.


To edit an employer expense

1.	Highlight the expense and click the Edit button.

Click on the name of the expense you want to change to highlight it. Then click Edit; the Employer Expense Information window will open. You’ll use this window to edit the information.

2.	Make the changes you wish to make.

You can change any of the information that’s already been entered for this expense.

3.	Click OK.

Click OK when you’re satisfied with the entries you’ve made.


To delete an employer expense

Click the expense you want to delete to highlight it. Then click the Delete button; the expense will be removed from your data file.


Step 13: Create Your Employee Cards

Now that you’ve set up all the general payroll information for your company, it’s time to enter information for specific employees.

  To enter new employee information in MYOB Premier

  To edit an employee’s information

  To delete an employee’s information

  To import employee information


To enter new employee information in MYOB Premier

Use these instructions to enter information for your employees if you haven’t been tracking this information in another software program and don’t plan to import your employee information. Repeat these steps for each of your employees.

1.	Click the New button.

Click the New button to display the Card File Entry window in the Easy Setup Assistant.

2.	Enter the employee’s name.

Enter both the employee's first name and  last name.

3.	Enter contact information for the employee.

Enter contact information for the employee, including the employee’s address, phone and fax numbers (if applicable).

4.	Enter bank information for the employee.

If this employee's paycheques will be direct credited to his or her bank account, enter the BSB (Bank-State-Branch) code for the employee's bank, along with the number and name of the employee's account there. If the employee will receive printed paycheques, you can skip this step.

5.	Enter identifiers for the employee, if you like.

If you want to assign identifiers to the employee, use the Identifiers field to do so. You can enter up to 10 identifiers for each employee.

6.	Enter a name or title to use in personalised letters.

Enter a name or title you wish to use in the greeting of a personalised letter for the person or company whose card you’re viewing. For example, if you want to greet an employee named Kara Watanabe as “Kara,” enter Kara in this field. The personalised letters you create for Kara Watanabe will begin with “Dear Kara.”

7.	Enter additional notes, if needed.

Enter any additional information about the employee that you wish to keep as part of his or her permanent record. For example, you may wish to record the employee’s birth date.

8.	Click OK.

When you’re satisfied with your entries for this employee, click OK.


To edit an employee's information
To edit an employee’s information

1.	Highlight the employee’s name and click the Edit button.

Click on the name of the employee whose information you want to change to highlight it. Then click Edit; the Card File Entry window will open. You’ll use this window to edit the information.

2.	Make the changes you wish to make.

You can change any of the information you’ve already entered for this employee.

3.	Click OK.

Click OK when you’re satisfied with the entries you’ve made.


To delete an employee's information
To delete an employee’s information

Click on the name of the employee whose information you want to delete to highlight it. Then click the Delete button; the employee’s information will be removed from your data file.


To import employee information

If you’ve been using a spreadsheet program or another accounting program to keep track of your employees, you may want to use this information in MYOB Premier. You can use the  instructions below to import your existing employee information into your MYOB Premier data file.

  If you want some help with the importing process

1.	Export the data you want from the software program you’ve used to create the data.

Export the data you want using the program where the information currently is located. Consult the manuals or online help for that program if you’re unsure about how to export the data. For example, if you’ve used a spreadsheet program to track your data in the past, you should use that spreadsheet program to export the information you want to use in MYOB Premier.

The data you export must be stored in a file, known as an import file, that uses either the tab-delimited or comma-separated file format. These formats are described below:

2.	Make a backup of your MYOB Premier data file.

Although problems don’t often occur when you import data, you’ll be making changes to your data that will be difficult to undo. As a precaution, we strongly recommend that you make a backup of your data file before you begin importing information into it. Refer to the MYOB Premier Online Reference Guide to learn more about backing up your data file.

3.	Return to the Easy Setup Assistant and click Import to begin importing the data.

Return to the Payroll portion of the Easy Setup Assistant, and click the Import button in the Create Your Employee Cards window.

4.	Select the file format you used when you created the import file.

In the Import File Format field, select the file format of the import file you created in step 1.

5.	Indicate whether the first record in the file is a header record or a data record.

In the First Record Is field, select whether the first record in the import file is a header record or a data record.

6.	Indicate how you want duplicate records to be handled.

In the Duplicate Records field, select whether to reject duplicate records, update existing records or add new records if you have employees with the same name.

If you attempt to import a record for an employee whose name is the same as another employee, MYOB Premier will reject the record, update the information for the existing record in your data file, or create a separate record for the second employee, depending upon your selection here.

(In most cases, you’ll want to choose the Add Them option, since it’s possible to have two or more employees with the name “John Jones.” )

7.	Locate the import file.

After you’ve made your selections in the Import File window, click Continue. A dialog box appears, allowing you to locate your import file. Locate the file and click OK (Windows) or Open (Macintosh).

8.	Match the fields in the import file with those in your MYOB Premier data file.

The Import Data window appears. In this window, you’ll match the information in the import file with its corresponding fields in MYOB Premier. To do this, highlight the name of a field in your import file from the Import Fields column.

Then click the MYOB field in the MYOB Premier Fields column that you want to match the import field with. When you click the MYOB Premier Fields column, the import field you selected will appear in the Matching Import Field column.

If you want to remove an import field’s name from the Matching Import Field column, simply click the import field’s name.

Note:  The Co./Last Name field must be imported. MYOB Premier fields whose names have asterisks (*) next to them must have matching import file fields assigned to them. When you import employee information, the company name or individual’s last name is the only field that must be imported.

If all the fields in the import file match the fields in the MYOB Premier Fields column, you can match all the fields at one time by clicking the Match All button at the bottom of the window.

9.	Click Import to begin importing the data.

When you’re done matching fields, click the Import button to begin the importing process.

During the importing process, the Import Log report is created. This report, titled MYOBLOG.TXT, lists information about any problems that occurred during the importing process, as well as information about rejected duplicate records. This report is created as a file, and is located in the same place on your computer as your data file.

Each time you import, the Import Log report is created, using the same name. If an Import Log report already exists when you create another one, the existing report will be removed.


Step 14: Set Up Your Employee Cards

In this step, you’ll enter detailed information about each employee you pay in your company. The information you enter in this window is used to determine wage, deduction and tax amounts for each employee, and helps to calculate each pay period’s payroll cheque amounts. To do this, complete the following steps:

1.	Select an employee name.

Highlight the first employee name that appears in the Employee List, then click the Info button. The Employee Payroll Information window will appear.

2.	Review the wage expense account assigned to this employee.

Review the account that’s displayed in the Wages Expense Acct field. If you wish to use a different account to track the wages expenses for this employee, enter or select that account.

3.	Indicate whether the employee is paid a salary or an hourly wage.

In the Pay Basis field, choose Hourly or Salary from the list to designate whether this employee is paid based on the number of hours he or she works, or based on a fixed salary amount.

If you select Hourly, the Base Hourly wage (or the name you assigned to this wage) will be automatically selected in the Payroll Categories list in the right-hand side of this window. If you select Salary, the Base Salary wage (or the name you assigned to this wage) will be automatically selected in the Payroll Categories list.

If you wish, you can also assign hourly wage types to salaried employees and salary wage types to hourly employees by selecting the wages you want from the Payroll Categories list.

4.	Specify the employee’s base pay.

In the Base Pay field, enter the amount this employee is paid on an annual or hourly basis, depending upon your selection in the Pay Basis list. (If you selected Salary, enter the amount the employee earns each year; if you selected hourly, enter the amount he or she earns each hour.)

5.	Enter the frequency with which this employee is paid.

In the Pay Frequency field, select the frequency with which this employee is paid: weekly, fortnightly, semi-monthly or monthly.

6.	Enter the employee’s Tax File Number.

Enter the employee’s Tax File Number in the Tax File Number field.

Tax File Numbers appear on employee group certificates and other tax forms. Although you can create an employee record in MYOB Premier without entering a Tax File Number, we recommend that you enter the number as soon as you can.

MYOB Premier will not allow you to print group certificates for any employees for whom Tax File Numbers haven't been recorded. For special cases, refer to the "Tax File Number Guidelines" booklet, which is available from the Australian Taxation Office. If an employee chooses not to quote a file number, enter a space character only in this field.

7.	Indicate the date on which the employee began working for your company.

In the Start Date field, enter the date this employee began working for your company. This field is for your information only.

8.	Indicate the date on which the employee ended his or her employment with you.

In the Termination Date field, enter the date this employee ended his or her employment with your company, if applicable. Note: If you make an entry in this field at a future date, all entitlements balances for the employee will be set to zero.

9.	Select the tax scale that applies to this employee.

In the Tax Scale field, enter the tax scale that applies to this employee. The tax scale determines the amount of PAYE tax that will be deducted from the employee's gross wages.

For an explanation of each tax scale, refer to the "Statement of Formulae for Calculating Income Tax Instalments" (form NAT 1004), which is available from the Australian Taxation Office.

10.	Enter the total rebates amount from the employee's Employment Declaration form.

Enter the amount the employee has entered for "Total Rebates" on his or her Employment Declaration form. Any amount entered here reduces the tax payable and is spread over the whole year in instalments based on the pay frequency specified for the employee. For example, if the frequency is Weekly, the tax payable on each paycheque will be reduced by 1.9% of the amount you enter here. If the frequency is Fortnightly, the tax payable on each paycheque will be reduced by 3.8% of the amount entered, and if the frequency is monthly, the tax payable on each paycheque will be reduced by 8.3% of the amount entered.

11.	Indicate any extra amount that is to be withheld from the employee’s cheques.

If the employee wishes to have any additional amounts withheld from his or her payroll cheques, enter that amount in the Extra Withheld field. The amount you enter here will be withheld from each paycheque printed for the employee.

12.	Assign wages, deductions and employer expenses to the employee.

The Payroll Categories list contains all the wages, deductions and employer expenses in the MYOB Premier system, as well as PAYE income tax. If you want to view more information about a wage, deduction, employer expense or tax, click the zoom arrow next to the name.

Click the Select column next to a wage, deduction, employer expense or tax name if you want to assign that payroll category to the employee. The payroll categories you select will be displayed in the Write Payroll cheques window and calculated with the employee’s payroll cheques.

13.	Review your entries, then click OK.

Review your selections. When you’re satisfied with them, click OK. Repeat this task for each of your employees before going on to the next step in the Easy Setup Assistant.


Step 15: Enter Your Employees' Pay History
Step 15: Enter Your Employees’ Pay History

In this step, you’ll enter individual employees’ wage, deduction and tax amounts for the current payroll year, as well as the employer expenses you’ve incurred for individual employees.

If you’re starting to use Payroll after the first pay period of the payroll year, you must enter each employee’s pay history for the current payroll year, up to the current date. You can enter pay history for specific months or quarters. To do this, complete the following steps:

1.	Select an employee name.

Highlight the first employee name that appears in the Employee List, then click the History button. The Pay History window will appear.

2.	Select the time period you want to enter information about.

Indicate the period of time you want to enter information about. Select a specific quarter or Year-to-Date from the Show Pay History For list.

3.	Review the wages and other payroll categories assigned to the employee, if you like.

The first column in the scrolling list displays the wages, deductions, taxes and employer expenses that were assigned to this employee using the Employee Payroll Information window. If you wish to view more information about a specific item in the column, click the zoom arrow next to the name to display the item’s Information window.

4.	Enter the amount paid for each of the payroll categories during the selected time period.

In the remaining columns, enter the totals for each month in the quarter you selected in the Show Pay History for field, or the totals for each quarter if you selected Year-to-Date in the Show Pay History for field.

If you change pay history for a specific quarter, the changed information will be assigned to the first month in that quarter.

5.	Enter amounts for all the other periods of the year.

Continue entering pay history for each of the wage categories that appears, for each of the quarters of the current payroll year.

6.	Click OK.

When you’re satisfied with your entries for this employee, click OK. The Enter Your Employees’ Pay History window will reappear. Repeat this task for each of your employees.


That's It! You're Done Setting Up Your Payroll Information!
That’s It! You’re Done Setting Up Your Payroll Information!

You’ve finished setting up your payroll information. If you want to go back and review the entries you’ve made, or make a change, click the Back button until the selection you want is displayed; make your change, then click the Next button until this window is displayed again. If you’re ready to continue setting up MYOB Premier, click the Finish button and choose another part of MYOB Premier to set up. If you’ve finished setting up MYOB Premier, you can click the Close button to exit the Easy Setup Assistant.