How To Guide

Banking
The Banking area is where you manage transactions related to your bank accounts. This includes money you spend and receive, and payments to suppliers and customers.
You can choose to import your bank transactions into MYOB Essentials and work with them directly using bank feeds. This lets you allocate bank transactions directly to MYOB Essentials accounts, or match them to transactions you've already entered, saving you loads of time on data entry.
If you know who you'll be making transactions with, make sure to set them up as contacts so you can easily add them to payments in the future.
MYOB Essentials will securely import your transactions directly from your bank, so you don't have to. You can link bank feeds to whichever account or card you want your transactions to appear in.
If your bank doesn't offer bank feeds, you can also save time by uploading your electronic bank statements. This will let you work with transactions in the same way you would if you had bank feeds

Create contacts
Contacts are how you keep track of your customers, suppliers and personal contacts in MYOB Essentials. By adding someone as a contact, you’ll be able to store and view information about them, and track and analyse their transaction history.
You need to create a contact if you want to: * create invoices and keep track of how much customers owe you * create bills and keep track of how much you owe suppliers * Record a contact’s name, address or other details.
The Contacts page will show you a list of your contacts and let you create new ones. You can label contacts as suppliers or customers or add plenty of other details.
Once you've created a contact, you can assign them to transactions like invoices or bills. You'll also be able to quickly add a new contact during a transaction if necessary.

Setting up items

Items are all goods and services that your business may buy, sell, hire, lease or otherwise offer for payment. Items include services that your business wants to include on invoices, such as shipping or handling.
You can set up two different types of items: * Stock items: items that you buy and/or sell, and which are measured in quantities. * Service items: items that you sell, and which are measured in hours. 1. On the Items page, click Create Item. The Item page appears. 2. Complete the fields in the first section: a. Item name enter a short item name. b. Item number enter an item number. c. Unit of measure enter a unit of measure for the item (e.g. hour, dozen, km). d. Description for invoices and bills enter a detailed item description, for use on invoices and bills. Note that if you leave this field blank, the Item name will be used as the description. 3. Complete the fields in the Selling Details section: e. Sell Price enter the price of the item, excluding tax or GST. f. Allocate to select the account to which you want sales of this item allocated. g. Tax Rate or GST Type select the tax rate (Australia) or GST type (New Zealand) to be applied when selling this item. h. Unit of measure select whether the item is sold as a quantity or as a number of hours. i. Unit description enter more details about the unit of measure. 4. Complete the fields in the Buying Details section: j. Buy Price enter the cost of the item, excluding tax or GST. k. Allocate to select the account to which you want purchases of this item allocated. l. Tax Rate or GST Type select the tax rate (Australia) or GST type (New Zealand) to be applied when purchasing this item. 5. Click Save to save your item details.

Creating invoices

Step 1 On the Invoices page, click Create invoice. The Invoice page appears
Step 2 if necessary, change the Invoice number. This number is automatically generated, based on the last number you used.
Step 3 In the Customer field, enter the customer’s name, or select the customer from the list. The customer’s address details appear in the field below
Step 4 Check the date in the Date of issue field.
Step 5 Check the date in the Due date field
Step 6 if you want to change the due date for this invoice, select the method you want to use to calculate the due date and, if necessary, the number of days from the end of the month or from the invoice issue date.
Note that the default due date is calculated using the preference you set up on the Payment options tab of the Invoice and quote settings page. See Invoice and quote settings.
Step 7 if your account for tax or GST, choose an option from the Amounts are list.
If you want the prices to include tax or GST, choose Tax inclusive (Australia) or GST inclusive (New Zealand). Note that this is the default tax preference.
If you want the prices to exclude tax or GST, choose Tax exclusive (Australia) or GST exclusive (New Zealand)

Step 8 In the Item column of the list, enter the number of the item you want to sell, or select it from the list. The item Description, Allocate to, Unit price and Tax rate or GST type appear, based on the details you entered when you created the item.
The Qty and Total also appear. The default quantity is 1. You can change this in the Qty field. If you want, you can also change the type of units to use for this item in the Units column.
Step 9 Repeat from step 7 for each item you want to sell. If you want to add a line item between the lines you've already entered, hover over the dots at the left of the line and click '+'. A new empty line appears below.
Step 10 if you want to rearrange the lines of your invoice, click the dots at the left of the line item you want to move, and drag it to the new position in the list.
Step 11 If you need to delete a line from your invoice, click the 'X' at the right of the grid.
The totals are calculated at the bottom of the invoice:
Subtotal the total for the items added to the invoice
Tax/GST the amount of tax or GST applied to the invoice
Total the subtotal amount plus the tax or GST amount
Amount paid the total of any invoice payments made
Amount due—the total minus the amount paid.
Step 12 If you want to add a note about the invoice, enter it in the Notes field. These notes will appear on the invoice that is sent to the customer.
For example, you could use this area to add additional details about payment.

Complete the invoice
Step 13 Check that all the information in the invoice is correct.
If you want to save the invoice without sending it, click Save. The invoice status will change to not sent.
Send the invoice to the customer, click Email or Print. In the window that appears, complete the fields and click Email to customer or Preview & Print.

Managing expenses in MYOB

1. On the Bills page, click Create bill. The Bill page appears.

2. If necessary, change the Bill number. This number is automatically generated, based on the last number used.

3. In the Supplier contact field, enter the supplier’s name, or select the supplier from the list. The supplier’s address details appear in the field below.

Check the due date, payment terms and tax preference

4. Check the date in the Date of issue field.

5. Check the date in the Payment due date field.
6. If you want to record the invoice or bill number as specified by the supplier, enter it in the Supplier invoice number field.
7. If your account for tax/GST, choose an option from the Amounts are list. m. If you want the prices to include tax/GST, choose Tax/GST inclusive. Note that this is the default preference. n. If you want the prices to exclude tax/GST, choose Tax/GST exclusive.

Enter the items you’re buying
8. In the Item column of the list, enter the number of the item you’re being billed for, or select it from the list. The item Description, Account, Unit price and Tax rate/GST type appear, based on the details you entered when you created the item.
The Qty and Total also appear. The default quantity is 1. You can change this in the Qty field.
9. Repeat from step 8 for each item on the bill. The totals are calculated at the bottom of the bill: a. Subtotal the total for the items added to the bill b. Tax/GST the amount of tax/GST applied to the bill c. Total the subtotal amount plus the tax/GST amount d. Amount paid the total of any bill payments made e. Amount due—the total minus the amount paid
10. If you want to add a note about the bill, enter it the Notes field.

11. Check that all the information in the bill is correct

Complete the bill
12. If you want to save the bill, click save. The bill is saved and the bills page appears.
Enter a payment for the bill, click the enter payment link, and then click yes to the confirmation message. On the enter supplier payment page, enter the payment details. For more information, see to enter a payment to a supplier.

Creating reports

Click the reports area in MYOB essentials it allows you to create detailed reports about any area of your business. You can use these reports to gain valuable insight into customers, stock items or even employee pay.
You can produce these reports to view for yourself on your computer, print them or even save them as PDFs for safekeeping.
Depending on the type of report you create, you'll be able to specify the details you want such as a range of dates or type of contact.

It will look like this.

Manage your business
When you want to get a broader overview of your business, you'll use one of the available business reports. Try generating a balance sheet of your assets, liabilities and equity accounts or getting a summary of your business performance using a profit & loss report. You can also get a list of all your accounts and contacts, display totals for your GST, and more.
Drill further into how your money is behaving by using banking reports. These can cover things such as the results of your bank reconciliations or an account's transactions sorted by different filters.

Employees and pay
View all the details about your employees using payroll reports. With these, you can see a summary of your total payroll for the year to date or break it down to each past pay run.
You can produce annual or sick leave reports for your employees and track their available entitlements in MYOB Essentials. You'll also be able to download the forms your need for your monthly IRD returns.

INCOME AND EXSPENSES
Want to find out where your money is coming from take a look at the available sales reports. From here, you can see which of your customers spends the most or find out which item is your best seller. On the other hand, you can also find out who takes the longest to pay you or who hasn't paid you yet at all!
Nobody likes bills, but we'll at least make them easier to keep track of with our bills reports. You can organise them by supplier and see who's been paid, or view your unpaid bills to see if they're overdue.