An entry made in the Adjustment fields of the Enter Activity Slip window or Prepare Time Billing Invoice window. You can enter an adjustment to change an activity slip's billable amount without affecting the record of the hours or units you actually performed or changing the rate you usually charge for the activity. You can enter adjustments in hours or units and also in dollar amounts.
An account-usually an expense or income account-used to automatically balance a transaction such as a cheque or deposit, or stock increase or decrease.
The process of distributing payments from customers to outstanding sales transaction balances, and supplier payments to outstanding purchasing transaction balances.
The process of combining two or more stock items, known as "components," to create another stock item, known as a "finished item."
The process of storing copies of computer files at a location other than the primary location, with the intent of easily recovering the information in the files if damage occurs to the files at the primary location.
Computer files stored at a secondary location, copied during the backing-up process.
A collection of information about transactions, containing the debit and credit amounts for affected accounts.
The Cash Disbursements Journal contains information about supplier payments that affect (credit) bank accounts.
A collection of information about transactions, containing the debit and credit amounts for affected accounts.
The Cash Receipts Journal contains information about payments from customers that affect (debit) accounts.
Changeable transactions, as their name suggests, can be changed at any time. If you want transactions to be changeable, you must be sure the Transactions CAN'T Be Changed; They Must Be Reversed option is unmarked; this option appears on the Security tab in the Preferences window.
An accounting period in which all activity is complete.
Transactions can be entered in a closed period until the period is "locked" using the Preferences window.
A location in which selections can be made to accomplish accounting tasks.
An item combined with another item to create a finished item.
The month in which a business starts entering transactions in MYOB Accounting Plus.
The amount paid to purchase a stock item.
The cost of an individual item is based on the average cost of all the items of the same type. For example, if 10 widgets exist in stock and cost a total of £500, an individual widget's cost will be £50.
The agreed-upon rules governing the number of days between delivery and payment, discounts for early payment and penalties for late payment.
Information that's entered by a user and stored in a company file.
The medium by which data is stored. All the accounting information that's entered in MYOB Accounting Plus for a single company is stored in one company file.
A suggested entry that appears in a data entry field.
The process of transferring data from MYOB Accounting Plus to a text file so it can be used with another software programme.
A single location where one unit of information, such as the telephone number for a customer, is entered.
See Company File.
This is a stock item that's the result of combining two or more components.
Documents that are typically distributed to people or companies outside a business, such as cheques, invoices, statements, purchase orders and mailing labels.
A report section that's printed at the top of a page. Report headers typically include labels for each of the columns in a report, as well as the date and time the report was printed.
The act of selecting an item in a list or field so you can perform an action that affects the selected item. For example, when you start MYOB Accounting Plus, you highlight the name of your company file in a dialog box, then click OK or Open to open the company file.
The balance of an account before it's transferred to MYOB Accounting Plus.
A purchase made before you began using MYOB Accounting Plus.
A sale made before you began using MYOB Accounting Plus.
A graphic representation of an object that appears on a computer screen. Icons in MYOB Accounting Plus include the zoom arrow and search icon.
A character used to organise cards.
The process of receiving data into MYOB Accounting Plus that originated from a different software programme, or from a different MYOB software company file.
A physical unit stored for possible sale to a customer. Usually referred to in MYOB Accounting Plus documentation simply as an "item."
The process of changing the quantity of an stock item so it matches the actual quantity on hand.
A collection of information about transactions, containing the debit and credit amounts for affected accounts.
In MYOB Accounting Plus, the Stock Journal contains transaction information affecting quantities of stock items.
The process of adjusting item quantities after finished items are created.
The printed record of a sale.
Four types of invoices can be recorded: item invoices, which document the sale of stock items; service invoices, which document the sale of services and other items not included in stock; professional invoices, which document the sale of services and other items not included in stock, as well as the dates each individual service or item was sold; and time billing invoices, which document time spent working on a client's behalf.
See also Miscellaneous sale.
A physical unit stored for possible sale to a customer or a billable service provided by a company.
A series of specific transactions for which income and expenses are tracked, and for which a separate profit and loss statement is desired.
A profit centre, a product line or a similar division of a business can be considered a job.
A collection of information about transactions, containing the debit and credit amounts for affected accounts.
A transaction consisting of equal debit and credit amounts.
An account to which specific transaction amounts are assigned automatically. Linked accounts were set up for you when you created your MYOB Accounting Plus company file. Linked accounts ensure that transactions are recorded consistently and in the appropriate accounts; they also make entering transactions faster and easier.
An accounting period in which entries are no longer allowed. Periods are locked using the Preferences window.
The supplier from whom an item is usually purchased.
Purchases that don't require a printed purchase order.
Sales that don't require a printed invoice.
A collection of information about transactions, containing the debit and credit amounts for affected accounts.
The Nominal Journal contains transactions that don't belong in the Sales, Purchases, Stock, Cash Disbursements, or Cash Receipts journals.
An account balance that's entered during the setup of the MYOB system.
A set of characters used to restrict access to specific parts of the MYOB system. Passwords can be set up using the Preferences window.
A sale for which the items or services sold haven't been delivered yet.
A purchase for which the items or services purchased haven't been delivered yet.
A service invoice that contains the dates each service was performed.
A service purchase order that contains the dates each service was performed.
A financial statement showing a company's performance over a period of time. Also referred to as "Income Statement."
An MYOB Accounting Plus profit and loss statement shows the income gained by a business, the cost of sales and expenses incurred by the business and the net profit or loss that results.
The written record of a purchase.
Three types of purchase orders can be recorded: item purchase orders, which record the purchase of stock items; service purchase orders, which record the purchase of services and other items not included in stock; and professional purchase orders, which record the purchase of services and other items not included in stock, as well as the dates each individual service or item was purchased.
See also Miscellaneous purchase.
A collection of information about transactions, containing the debit and credit amounts for affected accounts.
The Purchases Journal contains purchasing transaction information affecting accounts payable, stock asset and purchase expense accounts.
The process of removing unnecessary or outdated data from a company file. Information that can be purged from the company file includes journal entries, closed sales, closed purchases, activity slips and business contacts.
A window that allows users to review a journal entry before it's saved. This window, selected from the Edit menu, may be helpful when you're viewing transactions such as invoices and purchase orders for which the journal entry isn't apparent.
The process of verifying that a business's recordkeeping of various accounts is consistent with a bank's recordkeeping of the same accounts.
A collection of information about individual parts of accounting data. For example, information about a single customer is stored as a record.
An accounting entry that occurs repeatedly, such as weekly payroll and monthly rent.
The process of offsetting the effects of an incorrect transaction by entering a new transaction (called a "reversing transaction") that reverses the debit and credit entries of the incorrect transaction.
A collection of information about transactions, containing the debit and credit amounts for affected accounts.
The chronological list of past monthly sales amounts recorded for an item, customer or salesperson.
The term used to describe Widgets, Ltd., a fictitious set of data that allows MYOB software users to experiment with MYOB Accounting Plus.
The written record of a sale of services or other items not included in stock.
A service performed by a company that's entered in the Item Information window and can have item invoices written for it.
The written record of a purchase of services and other items not included in stock.
A report containing journal activity since the MYOB Accounting Plus company file was last opened.
A recordkeeping tool used to categorise transactions into similar groups. When a transaction is saved, it's assigned to the source journal that best applies to it. MYOB Accounting Plus's six source journals are the General Journal, Sales Journal, Purchases Journal, Cash Receipts Journal, Cash Disbursements Journal and Stock Journal.
An identification number assigned to a transaction.
The process of changing the quantity of a stock item so it matches the actual quantity on hand.
A physical unit stored for possible sale to a customer. Usually referred to in MYOB Accounting Plus documentation simply as an "item."
A collection of information about transactions, containing the debit and credit amounts for affected accounts.
In MYOB Accounting Plus, the Stock Journal contains transaction information affecting quantities of stock items.
The process of adjusting item quantities after finished items are created.
A set of detailed tax information used for calculating PAYE and NIC's. Tax tables are updated periodically by MYOB Accounting Plus.
See Credit terms.
An entry that affects the balance of an account or group of accounts.
If your transactions are unchangeable, you've marked the Transactions CAN'T be Changed selection in the Preferences window. If this is the case, transactions can't be changed or removed; you must enter a reversing transaction to undo any errors that occur.
A character used to further define search criteria in reports. MYOB Accounting Plus uses an asterisk (*) and a question mark (?) as wildcards.
An icon that allows a user to review, or "zoom to," more detailed information about a specific topic, such as a transaction.
The process of clicking a zoom arrow to review more detailed information about a specific topic, such as a transaction.