HOW TO SET UP MYOB
Click on the MYOB icon on the
desktop and select create a new company
data file
Follow the instruction on the screen; there are 12 steps to set up a
data file.
STEP 1: Click on next
STEP 2: Write the company
name and address.
Click on next
STEP 3: Write Vat
Registration Number
Write
Company Registration Number
Click on next
STEP 4: Select the
financial period.
(This is
normally 12 months, i.e. if a company start trading on the 1st
January 2005, then the current financial year is 2005 and the last month of the
financial year will be December 2005.
Click on next
STEP 5: Conversion month
will be the first month of the financial period. From the example above, the
first month is January, sometime it is a few months later but for accounts
purposes always use the first month.
Click on next
STEP 6: Select the number
of months in the financial year, this is 12 months. Never try to do 13 months.
Click on next
STEP 7: IMPORTANT!
Using the
example above:
Select
financial year: 2005
Last month
of the financial year: December
Conversion
month: January
(Always first month of the financial year)
Periods per
year: Twelve
(Always 12)
Click on next
STEP 8: Select the type
of business, from Advertising Agency to Contractors. Select the most
appropriate one.
Click on next
STEP 9: Choose a user id
Click on next
STEP 10: Select single user
Click on next
STEP 11: Read and select
next.
A pop menu
will appear, choose the location where you want to
save the data file. This can be done by choosing the My Computer icon on the menu and this can be found on the left
hand side of the pop up menu. Select the drive you want to save it on, select
the MYOB Clients folder, choose a
file name (normally the company name in short, and then press save.
STEP 12: Congratulations!
MYOB has been set up.
Click on finish
Once the 12 steps is completed the data file is ready to use, however we
need to change the currency from $
to £. To do that, we need to go to set up on the menu bar and select preferences.
Once on the preferences
menu, select system and click on I deal in multiple currencies and a
tick will appear on the left hand side in a square box.
Press OK and MYOB is ready to use and input data
from bank statements or any other methods.