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FREQUENTLY ASKED QUESTIONS
| 1 |
| What is an office procedure or system?
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Office procedures or systems are methods you have in place to ensure you don't miss invoicing any sales, or paying all the
bills, or recording all transactions in your accounts.
| 2 |
| What information should my accounts provide?
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As well as giving you lists of unpaid debtors and creditors your accounts should be able to provide you with a multitude of reports you can use to make better profits. Examples are:
| 3 |
| Can I enter information in my accounting system into the future?
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There are times when this is necessary such as a customer deposit for a future job, entering information after a year-end,
and you need to ensure your system can handle it. MYOB is very effective at future period accounting.
| 4 |
| When should I do a stocktake?
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This will depend on many factors such as the risk of misappropriation or incorrect accounting, the turnover of stock
and the value of it to your business. However it is very important that a regular stock take is carried out so you can accurately
reflect the profit of your business.
| 5 |
| Why is it important to get your information into the accountant at year-end as quickly as possible?
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The accountant can then prepare your financial accounts and be able to read them with you to understand where your
business is heading and ensure you are happy with that.
| 6 |
| Are there things I can do to reduce my accountant's bill?
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Yes. Having your general Ledger running on MYOB can mean you simply export a back up of your accounts to the accountant either by
email or disk and they do not need to reenter all your transactions for the year.
| 7 |
| Can I make my invoice look more professional?
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Yes. Your invoice can be fully tailored to suit your individual business. Also logos, trade memberships, and messages that you can change on a regular basis eg: Merry Christmas can be added.
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