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part 3 project.docx

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Department
Administrative Studies
Course
ADMS 2500
Professor
All Professors
Semester
Fall

Description
Part 3 Instruction for MYOB: 1) www.myob.com 2) Click on Australia 3) On Bottom of Page you will see “Download Your FREE MYOB software Test Drive. CLICK ON IT 4) Click on Download free trial under MYOB BusinessBasics 5 Fill in the info form and submit it ( u will get download link on next page) 7) Click on link to download 8) Install software 9) Open the software 10) Click on create a new company file 11) Click next 12) Fill in company name(any name ex; Joe sports store, anything you want), and address (any) and click next 13) Current fiscal year: 2009, last month of the financial year: December, conversion month: December. Click next 14) Next 15) Choose option 3. I would like to build my own accounts…. Click next 16) Click next 17) Click on command center 18) Click on accounts (logo with folders) 19) Click record journal entries 20) Change date to 1/12/2009 ( u wont have to change it for each transaction); under memo write for each transaction what its for. Record each transaction Ex: student # is 435214569 YOU have to use your own student # a. A cash sale, dated December 1st, in an amount equal to your student Number Memo: to record cash sale Write cash under account name then press tab (menu will pop up). Click on new at the bottom. Account classification: asset account #: 4234, enter amount. Write sales revenue under account name then press tab (menu will pop up). Click on new at the bottom. Account classification: income account #: 42, enter amount. Dr. Cash 435214569 Cr. Sales Revenue 435214569 click record b. A telephone expense, paid in cash, equal to one tenth of your student number Write telephone expense under account name then press tab (menu will pop up). Click on new at the bottom. Account classification: expense account #: 10, enter amount. Write cash and press tab tab and the amount will come up. You don’t have to create account since you already have cash account. Memo: to record telephone expense Dr. telephone expense 43521456.9 Cr. cash 43521456.9 click record c. A payment to a landlord to prepay rent in an amount equal to one fifth of your student number Write prepaid rent under accou
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