After you have finished creating the required bank deposit record in MYOB, Diana asks you to perform the following steps to open the deposit record dated 21 January 2009 that you have previously created. Then in the table below, record the running totals that are shown at the bottom of the Prepare Bank Deposit window.
1. Open the Banking Command Centre.
2. In the flowchart section for that command centre, click Bank Register.
3. In the Bank Register window that appears, search for the deposit record that you have previously entered into MYOB and click on the line item for that record.
Complete the fields below using the running totals that are presented in the Prepare Bank Deposit window that appears after the above steps are performed.
During the accounting cycle, you will create and set up company records in MYOB, record transactions and generate financial reports using MYOB.
To allow your progress to be regularly monitored, you will required to transcribe your results from MYOB to our practice set website and answer questions about MYOB on an ongoing basis. Our regular feedback will help you identify and fix your mistakes as early as possible to prevent those mistakes being carried forward throughout the rest of your practice set.
By the end of this practice set, you will have obtained real-world experience in using MYOB and should be able to perform many activities in this software that are commonly performed by professional accountants. You will understand the benefits of using a computerised accounting system which include automatic posting of transactions and built-in internal control measures that prevent records from being deliberately modified.