Hello any MYOB gurus out there.
I'm playing around with MYOB at the moment and after reading through some of the older MYOB-related posts on this forum I have a few questions.
If I were to record 'Capital Works', 'Depreciation' and 'Low Value Pool' as expense accounts on MYOB and make a debit for these amounts, where would the credit go? Should I create Asset accounts showing the accumulated figures (eg - Accumulated Depreciation), and if so, what should I call these accounts?
For multiple properties should there be separate Capital Works and Depreciation accounts for each property? I assume there is only one Low Value Pool which has items from all properties pooled together so it would be a single MYOB account.
Am I on the right track?
I'm playing around with MYOB at the moment and after reading through some of the older MYOB-related posts on this forum I have a few questions.
If I were to record 'Capital Works', 'Depreciation' and 'Low Value Pool' as expense accounts on MYOB and make a debit for these amounts, where would the credit go? Should I create Asset accounts showing the accumulated figures (eg - Accumulated Depreciation), and if so, what should I call these accounts?
For multiple properties should there be separate Capital Works and Depreciation accounts for each property? I assume there is only one Low Value Pool which has items from all properties pooled together so it would be a single MYOB account.
Am I on the right track?