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MYOB Accounts List

The Accounts List in MYOB maintains a list of accounts that help you organise and track your business transactions.

For example, if you rent an office space for your business, you will have a Rental account in the Accounts List to record payments for this expense.

Similarly, you may have Sales, Cost of Sales, Assets account among others.

In short, an account groups similar transactions so that you can see at a glance how much was incurred during the financial period.

To access the Accounts List, click on Accounts in the Command Centre, then click Accounts List.

The Accounts List window is organised into 9 tabs.

Clicking on each tab will filter the list according to the tab you selected.

Tab	Displays	Prefix
All Accounts	List of all accounts	N/A
Asset	Asset accounts (Office equipment, Trade Debtors, Bank, etc)	1
Liability	Liability accounts (Trade Creditors, Accruals, etc)	2
Equity	Capital, current and retained earnings	3
Income	Income accounts (Sales, etc)	4
Cost of sales	Cost of sales accounts (Discount allowed, Freight charges, etc)	5
Expense	Expense accounts (Telephone, Electricity, Bank charges, etc)	6
Other income	Income accounts that are not related to your normal business	8
Other expenses	Expense accounts that are not related to your normal business	9

MYOB identifies the type of account by the prefix.

So, if an account number starts with “4”, MYOB knows this is an Income account.

For that reason, although account numbers are 5 digits long in MYOB, you can only use the last 4 digits to number your accounts.

Before you start creating your chart of accounts in MYOB, it’s best to understand certain aspects and how it will affect your organisation of it

More on Accounts

• Header and Detail accounts
• MYOB Linked Accounts
• Account classification & types