Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

What is historical balancing account in myob

07/12/2021 Client: muhammad11 Deadline: 2 Day

Business Name: “J&J Manufacturing – 11701700”

Industry: there is no need to select anything (the default setting may be manufacturing).

Click on the box that states "I'm using this business as a teaching or student resource". This is important, when you click on this box then it will fade out the industry option.

Question 1, Part a: Initial Set-up

After signing up for MYOB Essentials, click on your business name on the top right-hand side of the MYOB dashboard menu. This will open up the menu you will need to enter all of the following details and settings.

If you have made an error in entering your business name when registering, you can also edit that via this menu.

Business Address: “Church Ln, Melbourne VIC 3000”

Financial year settings for J&J the financial year is ‘July to June’, resulting in an opening balance date of 1 June 2019.

Once completed, take a screen shot of your Business Details page for submission.

GST Settings: for J&J are:

 Yes they "are you registered for GST?"

 They are accounting for GST on an Accruals basis.

 GST reporting occurs Monthly.

Once completed, take a screen shot of your GST Settings page for submission.

REPORTING FOR QUESTION 1 PART A: When you complete your set up, a screen shot of your 'Business Details' and 'GST Settings' pages must be combined into a single word or pdf file and submitted to satisfy the requirements for part a.

Check your initial set up details prior to proceeding to part b as an error can affect all of your reports.

Question 1, Part b: Chart of Accounts

The chart of accounts should be set up via the business name in the top right hand side of the MYOB Dashboard menu.

Opening Balances are entered via Accounts List / Edit Accounts. You must delete and/ or edit accounts already listed and prepare your own chart of accounts. You must correctly classify each of these accounts when preparing your chart of accounts. Do not leave excess unused accounts.

Locked Accounts: You will notice that there are certain accounts that cannot be deleted. These accounts have a lock symbol next to them. These accounts can still be edited with relevant Account No. and opening balance details.

You must correctly identify which of these are relevant to your task and make necessary edits.

MYOB Essential locked accounts include (cannot be deleted but can be edited):

• Discount received

• Discounts given

• Superannuation expense

• Wages and salaries

• Accounts receivable

• ABN withholding credits

• ABN withholdings payable

• Accounts payable

• GST Collected

• GST Paid

• PAYG withholdings payable

• Payroll deductions

• Superannuation payable

• Allocate me - Withdrawal

• Allocate me - Deposit

• Historical balancing

• Current year earnings

• Retained earnings

Question 1, Part d: Reports

Once you have completed your set up (part a), prepared your chart of accounts (part b) and entered the transactions for June (part c), generate the required reports from MYOB. These can be found in the dashboard by clicking on Reports then All Reports.

REPORTING FOR QUESTION 1 PART D:

Generate and submit the following reports for J&J as at 30 June 2020:

• General Ledger

• Trial Balance

• Balance Sheet

• Profit and Loss

Question 2

Question 2 of this assessment item uses the reports you have generated above in Question 1. Prior to commencing Question 2, review your reports to see if they make sense. If you have made a mistake, go back and correct your errors and regenerate your reports. If you are unsure, use the discussion board or email your Lecturer to ask questions.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Professional Accountant
Assignments Hut
Financial Analyst
Assignment Solver
Quick Mentor
Supreme Essay Writer
Writer Writer Name Offer Chat
Professional Accountant

ONLINE

Professional Accountant

I find your project quite stimulating and related to my profession. I can surely contribute you with your project.

$28 Chat With Writer
Assignments Hut

ONLINE

Assignments Hut

I reckon that I can perfectly carry this project for you! I am a research writer and have been writing academic papers, business reports, plans, literature review, reports and others for the past 1 decade.

$17 Chat With Writer
Financial Analyst

ONLINE

Financial Analyst

I can assist you in plagiarism free writing as I have already done several related projects of writing. I have a master qualification with 5 years’ experience in; Essay Writing, Case Study Writing, Report Writing.

$40 Chat With Writer
Assignment Solver

ONLINE

Assignment Solver

Being a Ph.D. in the Business field, I have been doing academic writing for the past 7 years and have a good command over writing research papers, essay, dissertations and all kinds of academic writing and proofreading.

$36 Chat With Writer
Quick Mentor

ONLINE

Quick Mentor

As an experienced writer, I have extensive experience in business writing, report writing, business profile writing, writing business reports and business plans for my clients.

$34 Chat With Writer
Supreme Essay Writer

ONLINE

Supreme Essay Writer

I have written research reports, assignments, thesis, research proposals, and dissertations for different level students and on different subjects.

$20 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Timken bearing damage analysis poster - Twilight stage of sleep associated with imagery resembling hallucinations - 75 word positive feedback response due in 1 hour - Dimensions of nursing final exam rasmussen - How to measure customer profitability - Signal verbs they say i say - Pinky dinky doo eat it or wear it - Acall instruction in 8051 - Beery test of visual motor integration - Great spirits have always encountered violent opposition meaning - Program to convert hexadecimal to decimal in java - Employment Law: Unit III Journal, Unit III PowerPoint Presentation, Unit IV Journal, Unit IV Scholarly Activity - Chick fil a goals and objectives - Piaget called the reasoning that characterizes adolescence - Cybersecurity essentials 1.1 chapter 1 answers - Dungeons & dragons 1974 pdf - Actron air e9 code - Crisis prevention and intervention strategies in the classroom - Digital forensics - Chords lyrics stand by me - Riverbed modeler academic edition 17.5 license - Haydn c major cello - 39 wyndham way eleebana - Proposal and research paper - Db cooper prison break - She's my baby johnny o'keefe - Sodium chloride and sodium carbonate balanced equation - OperationsManagementForLeaders_Assessment3 - Write 2 - Nursing - Tartaric acid titration curve with naoh - Border force jobs gatwick - Aeroplane attendant 7 letters - Ranchera valseada - Theme of the scarecrow by satyajit ray - A white heron questions and answers - Triage assessment form for crisis intervention - Water supply and drainage system ppt - Fsr meaning in banking - What is the difference between excretion and egestion - Philosophy - Auditing a practical approach solutions - Roderick and madeline usher - Uncle hubbas green lean elixir - The Schooling of Women -Short Essay - Homework - Mcdonald's general environment - Case study on hr issues with solution - Discussion (course - Bussiness Continuation Plan & Disaster Recovery Plan ) - Ideological reasoning - Ni usb 6212 driver download - Ashford University Career Services Exploration Part 2 - The bijou theater in hermosa beach california shows vintage movies - Bringham company issues bonds with a par value - Clinical development plan example - 10 ways to irritate a telemarketer - Thai tea mix target - Psychology - Server room fire protection - Tesla product life cycle analysis - Fetch execute cycle steps - Wgu root cause analysis paper - Finance problems and answers - Percentage of acetic acid in vinegar lab answers - Why academic integrity is important essay - Environmental Policy Presentation - FINANCE FINAL EXAM - Tempest moyes microlights glider - Who is the protagonist in trifles - Ashley's department store in kansas city - What is a rube goldberg machine definition - How many millimeters are in 3 centimeters - Current Event - Local Issue - Two quality control technicians measure the surface finish - Business management capstone written project - Economic - Yellow journalism assignment 5 answers - Mendel conducted his most memorable experiments on - City of edmonton property tax - A fundamental distinction between trend projection and linear regression is that: - Ilt in chickens symptoms - Characteristics of tourism industry - Define mean bond enthalpy - Green eggs and ham worksheets - Sir cumference and the first round table pdf - Capital budgeting exercises and answers - Overhead cable sag calculator - Http learn genetics utah edu content epigenetics - Argumentative article about internet - Molecular weight of nicl2 - 180.4 lbs to kg - Discussion 2 - Holes louis sachar quiz - Of mice and men - Active learning methods ppt - Diebold technical support interview questions - " Legislative Act" - Geographies of interconnections unit plan - Dr phoon chiu yong - Joey and rachel first kiss