University Accounting Report: MYOB Software Activity Analysis

This report provides an analysis of an activity report focused on the use of MYOB accounting software. The report details the process of creating a company profile and setting up accounting lists. The report also covers the creation of journal entries, dealing with transactions involving motor vehicles and doubtful debts. The report describes the process of handling sales transactions, bank operations, inventory management, and payroll. Challenges faced in each chapter and their solutions are discussed. The report concludes with a positive outlook on the ability to execute accounting transactions in MYOB software. Desklib offers this and other solved assignments to help students with their studies.

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

1ACTIVITY REPORT
Introduction
The core skills required for an accountancy job essentially states the knowledge and
understanding along with the proper utilization of the accounting software known as MYOB.
The proper knowledge of using MYOB can be derived from the internet articles, seminars and
online tutorials.
Chapter 2
I had followed the basic instructions and had started my company. I had also created the
accounting list. The tricky part lied in the subtraction sign that was placed next to the
depreciation and doubtful debts. However, the reference to the book made it easy to resolve the
issue thus, make the trial balance.
Chapter 3
The most critical part in the chapter was the journal entries in regards to the motor
vehicle and the provisions for doubtful debt. The practice with the different values had helped
me to identify the fact that I had been entering one of the values based on the faulty assumptions.
Chapter 4
The exercises related to this chapter were mostly based on real life operations. The first
step involved in a transaction had to be entered carefully and the following of the rest of the
transactions would become easy. Thus, the entire process of entering values had become easy.
Chapter 5
I did make a list of potential customers and entered the corresponding sales transactions.
The differentiation between the service and sales invoice had been confusing. However, referring
to the previous chapter resolved the problem.

2ACTIVITY REPORT
Chapter 6
This chapter highlighted the transactions related to the bank operations. I faced difficulty
in differentiating between receipt of cash and receipt of electronic transfers. The accounting
treatments are separate for both of the financial components. As I have been reading the book
thoroughly I could identify the solution to the problem easily and implemented the learning
while entering the future transactions.
Chapter 7
The chapter 7 involved a significant number of entries for the new inventory items. It had
been similar to the entries that had been done in chapter 4 and chapter 5. The part in which the
discounts had to be computed was critical but I was able to solve it.
Chapter 8
The numerous transactions and the unavailability of the screenshots made the chapter
challenging. I was not able to achieve satisfactory result in this chapter.
Chapter 9
This chapter was about payroll. Similar to the previous chapter, this chapter also had its
own set of challenges.
Chapter 10
This chapter involved the input of large amounts of data. The particular problem that I
faced while solving this chapter was time management.
Conclusion
The completion of this assignment has filled me up with positive zeal and I am confident
to execute the accounting transactions in MYOB.