MacFormat 1994 November/macformat-018.iso/Demos/M.Y.O.B. Accounting Demo/M.Y.O.B. Demo/M.Y.O.B. Demo.rsrc/STR#_10022.txt

Text File | 1994-08-31 | 6.1 KB | 253 lines

Write Checks

Àá
Selecting a Checking AccountÀá


In the upper left of the Write Checks window is a pop-up menu containing all

accounts with checking privileges.  If you do not see your checking account in the

list, choose Chart of Accounts from the General Ledger command center and assign

checking privileges to the account.



Àá
BalanceÀá


Balance is the current balance of the selected checking account.  Click the arrow

to zoom to Account Inquiry to see all the activity in this account.



Àá
HandwrittenÀá


If the check is not going to be printed by M.Y.O.B., check Handwritten.

M.Y.O.B. then considers the check as already printed.  When you print your checks,

select All Unprinted Checks and the 'handwritten' check is not included.



Àá
Check NumberÀá


M.Y.O.B. provides a default check number using the Last Check Number field

from the account information entered in Chart of Accounts.  If you change the

check number, it resets the Last Check Number field.



Àá
Note:Àá
  When you print checks, M.Y.O.B. (at your option) renumbers your check

transactions to match the printed checks.  So, if your printer eats some of your

checks, don’t worry.



Àá
DateÀá


All checks are sorted by date.  You may not enter a date prior to the conversion

month or in a prior fiscal year.  If you enter a future date, M.Y.O.B. accepts it,

but only after warning you that the date is probably in error.



See Dates in Chapter 1—Using M.Y.O.B.



Àá
AmountÀá


Enter the amount of the check.  See Dollar Amounts in Chapter 1—Using

M.Y.O.B.



The checking account balance is credited (decreased) by the amount of the

check.



Àá
CardÀá


The small cardfile icon means that you may (optionally) link this check to an

entry in your card file.  If you do not want to link to a card, simply press Tab.



There are two reasons why you should consider linking this check to a card:



1.    The payee field fills in automatically with the name and address from the

    card.



2.    In addition to including this check with all the other transactions for this

    account, M.Y.O.B. cross references it by card.  You’ll be able to use

    Inquiry—Search by Card to access and report on all transactions by

    selected card.  Knowing what you did in the checking account is important;

    being able to list all checks written to, for example, the Tenant’s

    Association is real computing power!



To select a card, see Selecting From a Search List in Chapter 1.



Àá
PayeeÀá


The Payee is what is printed next to 'Pay to the Order of' on the check.  If you use

window envelopes, the payee field is what shows through the window.  It usually

contains the payee’s name and address.  If you linked the check to a card, the

card’s name and address appears here.  Feel free to change it.  Remember, if you

link the check to a card, changing the payee field will change what is printed on

the check, but the check will remain linked to the original card.



Àá
MemoÀá


Enter whatever you’d like.  Memos can be up to 255 characters, but because of

report display limitations, it is most useful to limit your memos to 40 or 50

characters.



Àá
Note:Àá
  When you look at this check transaction in the Cash Disbursements

journal, the memo field is displayed.  If the memo field is left blank, the first

line of the payee field is displayed.



Àá
Allocation AccountsÀá


To balance the transaction, you must allocate the check amount to the proper

accounts.  Since the check amount is a credit, the allocation amounts are

considered debits.  (If you enter a negative allocation amount, it becomes a

credit.)



Select the first allocation account (See Selecting From a Search List in Chapter

3).  The allocation amount defaults to whatever is needed to balance the

transaction.  If this is the only allocation, click Record (or press Enter).



If you’re allocating to more than one account, change the displayed amount,

press Tab and continue the allocation process.



Àá
JobÀá


If the allocation account is an income, expense, cost of sales, other income or

other expense account, you can assign the amount to a job (see Jobs List in

Chapter 8—Administration).  Type the job number and press Tab.  If you’re

unsure of the job number, press Command-L to see the job list.  Select a job

from the job list or click New Job to create a new one.



Àá
Note:Àá
  If you need to assign an amount from a single allocation account to more

than one job, enter the allocation account more than once.  Say, for example, you

have $100 of office expenses and you need to assign $30 to job 12 and $70 to job

43.  Allocate to Office Expenses twice, once for $30 and again for $70.



Àá
Recurring Check TransactionsÀá


Instructions for saving, using and editing recurring check transactions can be

found under the Help topic, 'Recurring Check Transactions,' or in Chapter 3

of your User's Guide.



Àá
RecordÀá


Total allocations must equal the check amount before you can record the check.



Àá
Non-Check Withdrawals—Bank Fees, ATMs, and Transfersˇ


There are two ways to record withdrawals from your checking account that are

not checks: General Journal Entry or Write a Check.  Either way, the transaction

appears in your Inquiry—Search by Account display and checkbook

reconciliation.  The only major differences are that check transactions appear in

the Cash Disbursements Journal and can be linked to a card, whereas general

journal transactions appear in the General Journal and are unlinked.



1.    General Journal Entry.  Credit your checking account for the amount of

    the withdrawal.  Debit the destination account (Bank fees expense, your

    savings account, etc.).  The transaction is placed in the General Journal.



2.    Write Checks.  Be sure to use a unique check number (or a non-number

    like the word 'Fee' or 'ATM') to separate your non-checks from your real

    checks.



Àá
Note:Àá
  When printing, you can select a range of checks by check number. Be sure

to use a unique check number (or a non-number like the word 'Fee' or 'ATM') so

it’s easy to omit non-checks before printing.