MYOB Bank Reconciliation Course Topics
THE PURPOSE OF a bank reconciliation is to ensure that your software data matches the information in the real world (ie. your bank account).
It is at this stage that you will enter:
- the direct debits that come out of your account automatically
- interest charges or payments
- merchant and bank charges
You’ll also find duplicates or omissions and need to correct the data that you have previously entered.
MYOB Bank Reconciliation — Loan Account
This part of our MYOB Bank Reconciliation training course focuses on loan accounts and includes:
- creating a loan account
- transferring loan funds
- transaction details and accounts payable
- setting up accounts payable linked accounts
- editing or deleting a transaction entry
MYOB Bank Reconciliation — Entering Transactions
Here our MYOB Bank Reconciliation training course takes you through entering transactions and includes:
- creating customer cards
- creating inventory items
- entering a sale and payment
- spending money
- receiving money from a client
- reconciling your cheque account to your bank statement
Bank Reconciliation — International credit card payments
Often the service in overseas countries is cheaper, better or there simply isn’t an available comparative product in Australia so we pay for overseas services. When we do, we don’t pay GST and we incur credit card charges. We’ll show you how to manage:
- the journal entry point of view
- GST and tax coding
Handling Basic Payroll Transactions
If you are a small business you may pay yourself, your partners or even casual workers ad hoc amounts each week or month. These transactions need to capture the right codes and also be included in your bank reconciliations. As long the correct amount of tax is paid and the employers obligations are met, the business owner is doing everything right. We’ll show you how some small companies manage these transactions.
Purchasing Assets — Company Vehicle
There will be times when larger equipment is purchased and it’s paid for from your operating cash flow. In this situation the asset isn’t written off as an immediate expense but depreciated every year for a certain number of years. You’ll learn how to code this type of transaction correctly.
Our MYOB Bank Reconciliation Training Course is included with all our MYOB training courses for one low price and either 12 month’s or Lifetime Course Access. Check out our Specials Page to see if you are eligible for a discounted price!
Who should do this MYOB course?
The MYOB Bank Reconciliation course is best completed after the MYOB Day-to-Day Transactions Course because it progresses nicely from the daily transactions course. However, the training workbook that is included with this course is fully self contained, so any student can perform the tasks in this workbook without having completed the MYOB Day-to-Day transactions course first.
Although not crucial, the experience of working with banking transactions that are both cash based (using the banking module) and accruals based (using the sales and purchases modules), as well as receiving these payments and having the ability to go back and edit them if mistakes are made, is important and very beneficial for doing this course.
- How to enter loan account entries and repayments
- how to enter end of month payments like direct debits
- How to create journal entries
How long does this MYOB course take to complete?
When we operated face-to-face training centres in Sydney this course would generally take a day. This MYOB Training Course involves creating the cashbook, invoicing and payment entries and then performing a bank reconciliation with a sample bank statement. Online you can take as long as you need and progress at your own pace. You also receive other complementary online study tools.
Read more about the MYOB Course Frequently Asked Questions (FAQ)
Our other online training courses
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