PGL Business Consult

Accounts Command Centre

The Accounts Command Centre allows you to create new accounts, edit and remove existing accounts, and establish budgets.   It is also the place to record journal entry.

Screenshot : MYOB Accounts Command Centre

Also the place to enter your journal entries, and get an updated view of the ledger balance of all your accounts.

Accounts List (Chart of Accounts)

In MYOB, the accounts for your business are grouped in an Accounts List (or popular referred as Chart of Accounts).

The tabels at the top of the Accounts List is well organised and easy to follow

Screenshot : Accounts List (Chart of Accounts)

The account list groups accounts into 6 classifications : Assets, Liabilities, Equity, Income, Cost of Sales and  Expenses.

Each account is identified by a unique 5 digit number, with the first digit indicating the account classification. The rest of the digits determine its location within the classification.

You can either create your accounts code in the Accounts List window, or create it while you are in the midst of recording your sales, purchases, or payment transaction.

Budgets

You can enter budgets for the Company level, from a single window in the Accounts Command Centre / Accounts Lists sub menu.

You can enter budgets for current year.   MYOB also provide simple shortcuts to asssit in the budget preparation. 

You can run reports that compares actual versus budgeted amounts. This helps you keep your business on track.

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