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Exercise (tutorial) MYOB Accounting: Receive Money, Spend Money

Let's assume you want to record the deposit of $10,000 cash in the business bank account to fund the initial activities of the company.

* Go to the Banking command centre and click Receive Money window appears.
* Click the Deposit to Account radio button. Cheque Account appears automatically in the adjacent field.
* Type date (x/x/xx) in the Date field and pres Tab.
* The Payor field is where you can record the writer of the cheque. However, leave it blank in this example.
* Tab to the Amount Received field and enter $10,000 (simply enter 10000 and the amount will be formatte correctly).
* Tab to the Payment Method field and type Cash.
* Tab to the Memo field and type Initial funding of the company
* Tab to the Account Name column. Here you specify an account that can explain the increase in the bank account selected at the top of the window. In accounting terms, you are increasing equity or your share of the business; therefore, the appropriate account to use would be the capital account.
* Click the seach icon. The select from list window appears.
* Double-click the equity account.
* Tab to the Amount column. the ammount of $10,000 appears automatically.
* Click Recod. The entry is saved and the windows cleared.
* Click Cancel to return to the Banking command centre.



Congratulations! You have just completed the first entry in this tutorial.