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Help with how to enter transactions

 
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cafebookkeeping



Joined: 20 Oct 2010
Posts: 18

PostPosted: Sun Nov 14, 2010 9:32 am    Post subject: Help with how to enter transactions Reply with quote

I have a few questions relating to how to enter transactions into MYOB Accounting Plus V18.

1. How do I enter a capital purchase? I have a laptop to be entered which is $1700.00 Do I create the computer @ cost account under assets?

2. How do I enter a business expense that has been paid out of drawings? I know its DR business expense and CR drawings, I am just not sure whether to do it in purchases or spend money?

3. Can you reconcile a business that has registered one part of the business as sole trader and the other as a company using the same bank accounts? There are 2 ABN numbers and 2 different myob files.

Any help will be appreciated, thanks

Jeanette
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toofatladies



Joined: 13 Apr 2011
Posts: 15

PostPosted: Thu Dec 01, 2011 6:04 am    Post subject: Capital Items Reply with quote

to enter a capital purchase go to purchases tab and enter an invoice enter invoice details or if it was a cash sale you could just enter it into spend money in banking tab
The account you would allocate it to would be an asset account you can set one up and name it computers
there are usully 3 asset accounts to put your capital items in
Property Plant and Equipment
Fixtures and fittings
Furnature
So you can set these up too
I always do one for computers as well
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toofatladies



Joined: 13 Apr 2011
Posts: 15

PostPosted: Thu Dec 01, 2011 6:14 am    Post subject: Q2 Reply with quote

I am assuming this expense has been paid from the main business bank account or business money
for a cash paid expense use spend money
for purchase that has been put on a account use purchases tab.
the account you allocate it to goes under drawings.
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toofatladies



Joined: 13 Apr 2011
Posts: 15

PostPosted: Thu Dec 01, 2011 6:26 am    Post subject: reconcilliations Reply with quote

You would have to enter all data into each myob file and reconcile each. (I would get a bank account for each seperately)

The Income and expense items that are for the other business would be put to drawings as a personal expense or reimbursement.

spend money - drawings
or recieve money- drawings
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