Detailed Activity Report: Executing Accounting Transactions with MYOB

This activity report provides a comprehensive overview of using MYOB accounting software to perform various accounting tasks. It begins with setting up an organization and preparing the accounting list, addressing challenges such as interpreting subtraction signs next to doubtful debts and depreciation, and constructing a trial balance with the help of reference materials. The report then delves into journal entries, particularly concerning provisions for doubtful debts and motor vehicles, emphasizing the importance of accurate data entry. Practical life activities are covered, with an initial focus on careful transaction entry to facilitate subsequent entries. The report also discusses managing customer lists, sales transactions, and differentiating between sales invoices and services, resolving confusion with earlier chapter references. Bank-related transactions, including electronic transfers and cash receipts, are addressed, highlighting the importance of proper accounting treatment. The report concludes with entries for new inventory items and payroll, reflecting on the challenges encountered and the confidence gained in executing accounting transactions using MYOB, with Desklib offering more resources for students.

Running head: ACTIVITY REPORT
Activity Report
Name of the Student:
Name of the University:
Author’s Note:

1
ACTIVITY REPORT
Introduction
The main and the competent skills in order to perform a job related to accountancy
specifically lays down the fact that understanding and knowledge along with the effective use of
the software of accounting called MYOB is essential. The proper and the effective understanding
and knowledge of making use of MYOB can be attained from several sources and one of the
most effective sources has been numerous internet websites and the other sources include online
tutorials and several seminars.
Chapter 2
I had to follow the most generic and the fundamental instructions and thereafter had
initiated my organization. I even had to prepare the accounting list. One o the most trickiest and
difficult part was seen within the subtraction sign that had been posted right next to the doubtful
debts and the depreciation. Even though the assistance and the reference that was taken from the
book made it simpler and easier for me to understand and the resolve the problem and thereafter
construct the trial balance.
Chapter 3
One of the most vital sections of this chapter was with respect to the journal entries in
accordance to provisions for doubtful debts and motor vehicle. The practices that I had done by
taking help of different values had assisted me to recognise the fact that I was entering a value
within the software that was reliant entirely on the assumptions that were faulty.

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ACTIVITY REPORT
Chapter 4
The practices and the exercises associated to this section have been generally based on
the practical life activities. The initial step was associated with a transaction that needed to be
entered cautiously so that the next transactions that would be entered would become easier for
me to enter. Therefore, the overall entering procedure that had taken place in this chapter became
easier for me.
Chapter 5
In this chapter, I initially prepared a list of the probable and the expected customers and
thereafter entered the subsequent transactions related to sales. There was a confusing scenario
with respect to the differentiation that was seen among the sales invoice and the service.
However, by taking reference and assistance from the earlier chapters the issue that was
highlighted was resolved.
Chapter 6
This chapter has looked to address the transactions that have been associated to the
activities related to the bank. I had faced an issue with respect to making a differentiation among
the receipt of the electronic transfers and the cash receipt. The treatments of accounting are not
same and are different for both the financial elements. I had an advantage because of the fact that
I had studied and gone through the entire book in detail and therefore could recognise the answer
to the issue very easily and thereafter incorporated the knowledge during the time of posting
down the transactions for the future.

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ACTIVITY REPORT
Chapter 7
This chapter is related to numerous and several number of entries for the new items of the
inventory. These entries have been similar to the entries that had been entered in the earlier
Chapter of 4 and 5. The section with which the discounts have been calculated was the most vital
part but with the help of my understanding I was able to solve it.
Chapter 9
This section was associated with the payroll. In accordance to the earlier chapter, this
section even had their unique kinds of issues and challenges.
Conclusion
The end and the attainment of the assignment has motivated me extensively and has
given a positive vibe and confidence and therefore currently I am competent as well as
competent in executing any kind of transactions of accounting with the help of the MYOB
software.