Double click on your MYOB shortcut icon located on your desk top and choose Create a new company file.
This brings you to the new Company File Assistant window. Click on Next. Enter your 12 digit MYOB product serial number (which is located on the inside of your CD sleeve). If you don’t have your product serial number, this can be added later when you register and activate your product.
The fields with an asterisk * are fields that have to be entered in order to proceed. The other fields can be added at a later date.
Enter your Company Name and any others you choose – click Next.
Fill in your accounting year details – Current Financial Year, Last Month of your Financial Year, the Conversion Month – this is the month you choose to start using MYOB to record your business transactions.
This does not necessarily mean the current month it could be a month prior to today. For example, it may be July that you choose to install MYOB but you want to record all transactions from the beginning of your Financial Year, which may be April. This would mean you would enter all transactions from April up to the current month.
Finally, enter the Number of Accounting Periods you wish to use. Most companies use 12 accounting periods but a few use a 13th period to record adjusting transactions. Click Next.
Read this window as once you click next, you cannot change the Accounting Information you have entered. Click Next.
Build your accounts list – This window gives you options of how you wish to build your accounts list. The most common option is to choose one of the default lists provided by MYOB.
You can also opt to import a list of accounts provided by your accountant after creating your company file or to build your own after you start using company file. No matter which selection you choose, you are able to change the account codes at a later date. I have chosen the common option to start with one provided by MYOB. Click Next.
Select your accounts list. In the drop down box, choose the Industry Classification that best suits your business. In the Type of Business drop down box, chose the business that most closely suits yours. Click Next.
Create your company file – check that your Company Name is correct as you have the option to go back and change it if necessary. If all is in order click Next.
Conclusion – your company file is now created and you have the option to click Setup Assistant to continue customizing your company file or click on the Command Centre to open your file and start entering your transactions. Set Up Assistant can be customized at a later date.
Click Command Centre – Welcome to your Company File – you are now able to begin entering details of your customers and suppliers in the Card File and any other transactions in the various command centres.