If you are a business owner without any idea or working knowledge on the balance sheet reports, what reports to ask your accountant or bookkeeper for details and when is the time to raise your eyebrows on seeing the accounts and the amounts on balance sheet report. First and foremost, you have to know what […]
Want to get sales report showing the items sold? MYOB have built-in Item Sales reports that that enable you to analyze a wide range of items sales transactions. You can generate these reports through the Reports – Sales – Item feature: In the Reports window, go to the Sales and select Item per screenshot below: […]
One of the most challenging tasks in accounting for retail business is to determine the cost of goods sold or the cost of the products sold. In simple retail setting, the cost to purchase the products for sale is usually the cost of the product sold. Of course, you should not include the purchase tax […]
MYOB have built-in Sales reports that enable you to analyze customer sales transactions. If you want to generate customer-related sales reports, you can do this through the Reports feature of MYOB per the screenshot below: In the Reports window, go to the Sales and select Customer report header as per the screenshot below: The Customer […]
One of the most challenging tasks in accounting for retail or manufacturing business is the conduct of periodic inventory count. This is especially true for those who are assigned to do this task but don’t have the hands-on experience. The questions that come into mind includes on how to conduct the count and ensure that […]
MYOB have built-in Receivables report to make accounts receivable management easy and quick for you. To access this report, go to the Reports window which is below the main command centres as per screenshot below: In the Reports window, go to the Sales tab as per the screenshot below: Like the Payables reports in MYOB, […]
In the previous article, we have discussed about reconciling supplier bills and statements. In this article, we will discuss about reconciling customer payments. Like vendor reconciliation, reconciling customer accounts by sending statements to customers on a periodic basis to ensure that the amount in the Balance Sheet date is accurate. Depending on your agreement with […]