Maintain Receivable with MYOB

About the course

This course focuses on the payable and receivable functions of MYOB, a leading accounting application in Australia. You will learn to prepare financial records, with particular focus on receivables using manual bookkeeping and then learn how these records are kept using a computerised accounting system such as MYOB. On successful completion a certificate of attendance will be issued.

Prerequisite

Knowledge of basic accounting terminologies and processes preferred. Also you must be able to open and shut down a computer, have experience working on Windows 10 operating system, be comfortable using computer mouse and keyboard create files and folders, open an application program, copy, rename, delete files, save, open and print a file.

Resources required

As this course will be delivered in a virtual class room via video conferencing, you must have a computer or laptop, a good internet connection, a web camera (essential as the trainer will need to see your screen) and a printer (optional). Once you have enrolled, you will receive instructions on how to join the virtual classroom. Your computer must be operational with no known faults that may disrupt the learning process. If you believe the computer may have issues, we will strongly recommend you to fix up those issues before enrolling into the course.

Please note that MYOB AccountRight 2019 version must be already installed on your computer. You may be able to download a trial version from MYOB website: https://www.myob.com/au/accounting-software/accountright.

Learning outcomes

On successful completion of the course, you should be able to -

Maintain financial journal systems
1.1.Check source documents for accuracy and appropriate authorisation
1.2. Refer errors and discrepancies in source documents for resolution, in accordance with organisational policy and procedures
1.3. Enter transactions into cash and credit journal system in accordance with organisational policy and procedures, and relevant legislation and compliance requirements
1.4. Total credit journals in accordance with organisational policy and procedures

Prepare bank reconciliations
2.1 Check cash journals against bank statements to identify differences
2.2 Update cash journals with relevant data from bank statements
2.3 Identify discrepancies and refer to appropriate staff member, organisation or agency
2.4 Total cash journals in accordance with organisational policy and procedures
2.5 Prepare regular reconciliation reports within designated time lines

Maintain accounts receivable systems
3.1 Enter transactions into individual accounts receivable, in accordance with organisational policy and
procedures, and accounting requirements
3.2 Prepare schedules accounts receivable for reconciliation purposes, in accordance with organisational
requirements
3.3 Reconcile schedules accounts receivable with journal data or general ledger, in accordance with
organisational requirements

Prepare statement for accounts receivable
4.1 Produce and check accounts receivable statements for accuracy of content in accordance with organisational policy and
procedures
4.2 Rectify discrepancies and statements despatched within designated time lines

Follow up outstanding accounts
5.1 Maintain accounts receivable ledger system, in accordance with organisational requirements, to reflect current credit situation
5.2 Conduct aged analysis of accounts receivable to identify outstanding accounts and to determine collection procedures, in
accordance with organisational requirements
5.3 Report or follow-up outstanding accounts in accordance with organisational policy and procedures
5.4 Monitor and review credit terms in accordance with credit policy and procedures.

This course also encompasses the essential functions of MYOB software, which will help you consolidate your bookkeeping basics and learn how to use one of the best, full-featured accounting software packages for home or small business.

As well as the above learning outcomes, you should be able to -

Customise software
1.1 Select accounting software to meet business requirements
1.2 Load, register and configure accounting software according to operating instructions

Create enterprise data
2.1 Establish chart of accounts according to business requirements
2.2 Create and add data on customers and sales
2.3 Create and add data on suppliers and purchases
2.4 Create and add inventory details
2.5 Add required/suitable tax codes

Record and track transactions
3.1 Generate invoices and track their progress
3.2 Record customer payments and update customer details
3.3 Record and track purchases
3.4 Record payment of wages, allowances, taxation and superannuation
3.5 Update business data as required

Save and back up data
4.1 Save accounting data to disk
4.2 Make a regular back-up of all accounting data and store in a safe location

Generated reports
5.1 Reconcile accounts
5.2 Generate and print financial reports based on accounting data
5.3 Check financial reports for errors and discrepancies
5.4 Discuss errors with appropriate person and rectify as required

Learning strategies

This course will be delivered in in a virtual classroom environment via video conferencing led by a qualified and industry experienced trainer. Learning methods will include face to face lecture, case studies, demonstrations, questions and answers.

LLN Skills required

This course requires strong language, literacy and numeracy skills. At a very simple level, this means you need to understand the trainer and can communicate with the trainer in English.

Need further information?

Please feel free to contact our enrolment officer on 02 96872072 or send an email to admin@parramattacollege.com.au.

This course has no current classes. Please the waiting list.