Who is MYOB LiveAccounts for?
MYOB LiveAccounts is easy to use online accounting software for sole traders, startups and smaller business. Who is MYOB LiveAccounts for? Designed for sole traders, smaller businesses or those just starting out. MYOB LiveAccounts makes it super simple to raise invoices, track expenses, pay employees, and manage your GST online. It’s really easy to use so you can get your accounts done as quickly as … [Read More...]
What is Xero?
Xero (NZX: XRO ) is an online accounting software product for small and medium-sized businesses, as well as for personal finance. The product is sold by subscription (a distribution model commonly known as Software as a Service or SaaS) requiring the payment of a monthly fee. This charge is proportionate to the number (and type) of company entities managed by the subscriber. Source: Wikipedia Is Xero for me? If you … [Read More...]
How to record a Finance Lease Transaction in MYOB
A finance lease transaction is the easiest transaction to record in MYOB. It is simply a spend money transaction that is allocated to a General Ledger account called lease expense. The transaction has an input tax credit for GST Paid which is claimable from the ATO. Click the image to make it bigger. Car Lease taxation implications If the amount to be financed is below the ATO depreciation limit, $57,180, you may … [Read More...]
Setup Paypal in MYOB
How-to Setup Paypal in MYOB The general nature of a Paypal transaction is much the same as an American Express transaction. The merchant takes a percentage share of the transaction for providing the credit facilities. A $100 sale nets the business $98.00. At the end of the day we need to record both transactions as they occur, that is the customer receipt of $98 and the merchant charge of $2 which is a deductible … [Read More...]
How to record a Finance Lease Transaction in MYOB
A finance lease transaction is the easiest transaction to record in MYOB. It is simply a spend money transaction that is allocated to a General Ledger account called lease expense. The transaction has an input tax credit for GST Paid which is claimable from the ATO. Click the image to make it … [Read More...]
Setup Paypal in MYOB
How-to Setup Paypal in MYOB The general nature of a Paypal transaction is much the same as an American Express transaction. The merchant takes a percentage share of the transaction for providing the credit facilities. A $100 sale nets the business $98.00. At the end of the day we need to record … [Read More...]
Bad Debts
What is a Bad Debt? When sales are made on credit terms occasionally your business may not receive payments against those invoices and as such you will need to reflect this occurrence in your Accounting software. Generally speaking you have two options: Write off the amount against an expense … [Read More...]
MYOB Networking Guide
Ngarluma wrote on the MYOB communities page about certain issues she was having with the MYOB Networking Guide: Has anyone had the following message? a network error (18:1380:0:0) has occurred. Unable to sebd nessages to Lisa. The user may have signed out improperly, there may be a problem with … [Read More...]
GST Finance Strategy
The GST Finance Strategy adopted on purchase of commercial equipment will ensure profitability is maintained but not at the expense of cash flow. The most important consideration when purchasing commercial equipment is to be conversant with the different type of finance products provided by … [Read More...]
