MYOB Beginner and Advanced

VTeach Pte Ltd

Course introduction

The most popular accounting software course - MYOB training 

Course Benefits

By the end of this workshop, participants will be able to:

  • Use MYOB computerised accounting software to perform day-to-day accounts
  • Understand the basics and need for Accounting
  • Understand the glossary of accounting terms
  • Explain and understand the concept of double-entry (debits and credits) and what is meant by ‘books must be balanced’
  • Understand what are financial statements
  • Relationship between all accounts and the financial statements (how and which category do they fall into)
  • Understand AR and AP
  • Use MYOB computerised accounting software to:-
  1. Use the multi-currency function to keep accounts
  2. Prepare budgets
  3. Set up jobs to track projects P&L
  4. When and how to record general journals
  • Understand accruals, prudence and matching concepts, as well as other accounting principles
  • Understand interaction between Inventories and related accounts
  • Provide for depreciation, bad debts and other entries
  • Understand and interpret financial statements
  • Submit GST returns to IRAS and the relevant accounting entries

Course Pre-Requisites

Hands on and real life scenarios and documents

Target Audience

Non-Accounting graduates who would like to be able to keep and manage a full set of accounts.
Accounts and Admin Assistants/Executives, Bookkeepers, Accountancy students and anyone who has an interest in Accounts

Course Outline

Topic 1: Computerised/Automated Accounting

  • Difference between manual and computerised accounting
  • Working in a computerised accounting environment
  • Filing and proper record keeping
Topic 2: History and the necessity of bookkeeping
  • Origin and brief background of bookkeeping
  • Difference between financial accounting and management accounting
  • Why and necessity of bookkeeping
Topic 3: Getting Started With MYOB
  • How to start up MYOB and set up a new data file
  • Overview of the modules in MYOB
Topic 4: Setting Up Chart of Accounts
  • Management of Accounts List, Accounts classification & types
  • How the accounts are arranged, prefix and classification
  • Delete, create and edit an account
  • What is linked account
Topic 5: Setting Up Card File
  • Cards List
  • Create a New Card and explain all the 7 tabs in the Card Information
  • Custom Lists and Field Names
  • View Contact Log in To Do List
  • Print Mailing Labels
  • Create Personalised Letters
Topic 6: Opening Balances
  • Enter Account Opening Balances
  • Enter Supplier & Customer Balances
  • Initial Bank Reconciliation
Topic 7: Managing Purchases
  • Introduction to the Purchases Register
  • Record Purchase Order
  • Convert Purchase Order to Bill
  • Creating a Backorder
  • Pay Bills
  • Recording and Settling Credit
Topic 8: Managing Sales
  • Introduction to the Sales Register
  • Record Quote
  • Convert Quote to Sales Invoice
  • Customer Payments
  • Recording and Settling Credit Notes
  • Print Or Email Sales Invoices and Print Receipts
  • Print Or Email Statements
Topic 9: Accounts Receivables & Accounts Payable
  • Understanding how Accounts Receivables work and relates to General Ledger
  • Understanding how Accounts Payables work and relates to General Ledger
  • Understanding the importance of bank reconciliation
  • Performing AR and AP reconciliations
Topic 10: Banking
  • Introduction to the Bank Register
  • How to Record Income or Expenses not related to Sales or Purchases
  • Monthly Bank Reconciliation
Topic 11: Reports
  • Generate GST Reports
  • Accounting Reports
  • Sales & Purchases Reports
Topic 12: Customizing forms
  • Customise sales invoices, PO, etc.
Topic 13: Preferences and User ID setup
  • User ID setup
  • User Preference configuration
Topic 14: Activate Multiple Currencies Feature
  • Change currency of an account
  • How to set up Trade Debtors/Creditors in other currencies
Topic 15: Jobs & Budgeting
  • Budget the P&L and Balance Sheet
  • Creating Jobs and budget for them
Topic 16: Inventory accounting and methods of valuation
  • Different valuation methods of inventory – FIFO, LIFO and Weighted Average
  • How inventory works and interaction with GL
  • Treatment of raw materials, WIP and Finished Goods
  • Difference between perpetual and periodic inventory
  • Advantages and disadvantages of each method of valuation
Topic 17: Setting Up Inventory List
  • Create Inventory Items
  • Customise Price Levels, List and Field Names
  • Inventory Opening Balance
Topic 18: Managing Purchases
  • Record Item Purchase Order
  • Convert Purchase Order to Bill
  • Creating a Backorder
  • Pay Bills
  • Record Bills from foreign currency supplier and Pay bills
Topic 19: Managing Sales
  • Record Item Quote
  • Convert Sales Quote to Sales Order
  • Convert Sales Order to Sales Invoice
  • Customer Payments
  • Record Invoices to foreign currency customer and Receive Payments
Topic 20: Managing Inventory
  • Multiple Warehouses
  • Allocate inventory to multiple warehouses
  • Completing a Stock Take
  • Inventory Adjustment
  • Build Items Function
  • Auto-Build Items function
Topic 21: Journal entries and posting into accounts
  • Concept of ‘double-entry’ and journal postings
  • Accounting for fixed assets
  • Making entries for depreciation, amortizations, bank charges and interests
  • GST reporting to IRAS and posting into accounts
Topic 22: Reports
  • Generate GST Reports
  • Accounting Reports
  • Sales & Purchases Reports
  • Inventory Reports
  • Jobs Reports
Course fee: $350.00

Available Course Sessions

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Trainer Profile

ACTA Certified

VTeach appoints experienced trainers who are knowledgeable on wide range of topics and skillful at teaching in the interesting and simple way. We invest a lot of time finding the right trainers and have fantastic team working for us. Our trainers are all qualified who are ACTA and Microsoft Certified.