Assign linked accounts for your payroll transactions
Every transaction you enter into the MYOB Accounting Plus system must be assigned to one or more specific accounts. To reduce your data entry time and the possibility of mistaken assignments, Accounting Plus 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 company file, Accounting Plus selected accounts from your accounts list that are most commonly used for specific kinds of transactions.
If you're not satisfied with the selections Accounting Plus 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 Accounting Plus 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 seems 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.)
Account for Writing Paycheques |
An account that will be used to track the money you've paid to employees. The account you select must have chebank privileges, that is, the account type must be a Detail Chebank Account (Postable). |
Account for Employer Expenses |
An account that will be used to track the employer expenses that aren't deducted from employees' paycheques. This account will appear as a default entry in the Employer Expense Information window when you add or edit individual employer expenses; you can override that default entry, if you wish. |
Account for Wages Paid |
An account that will be used to track your wage expenses. This account will appear as a default entry in the Employee Payroll Information window for individual employees; you can override that default entry using the Employee Payroll Information window, if you wish. |
Account for Deductions & Expenses |
An account that will be used to track the amounts withheld from employee paycheques. When you withhold money -- taxes or deductions -- from an employee's paycheque, the amounts you withhold are recorded in this account. Choose the account you'll use most often. This account will appear as a default entry in the Deduction Information, Employer Expense Information and Tax Table Information windows; you can override those default entries, if you wish. |