ACCOUNTS IN MYOB

Being a genius Accountant are admired
Being a wealth Accountant are envied
Being An Accountant with power are feared...... But......

Only Being An Accountant with Character are TRUSTED.......

Today my sharing will be around the "Accounts" Module in MYOB

The first question will be what is an "Account"? So accounts basically is how you do classifying on your business report. It's like how you make a classifying on type of a vehicle (car, motorcycle, train etc). What I mean is... you will not say in the first time like " I will buy a Van rather than buy Harley Davidson" but you will first say " I will buy car rather than motorcycle". So accounts basically is to classifying all kind of transaction when you do a recording, this way only you can make a summation for making financial statement. These accounts are the "tools" to communicate the report (Financial Statement) to the users.
In MYOB you will be able to make full customization as well as to make addition, erase or edit all the accounts, except for some accounts that all companies/organization will always has on their chart of accounts (cash, A/R, A/P, etc).
Start from MYOB Premier Version 9, you have to make a classification for each account it self like show in this figure below:



With this method start from MYOB Premier Version 9 the system can generate Cash flow Statement Report rather than just Cash Flow Analysis Report like in previous version.