Bookkeeping For Dummies, 2nd Australian & New Zealand Edition

Index

• A •

AAT Australia, 18

abnormal expenses, 28, 367

abnormal income, 24, 367

ABNs

applying for, 93

defined, 367

lookup service, 111

verifying, 111

absorption costing, 227, 367

accessing accounts remotely, 75

accident compensation (ACC), 166, 173

non-resident employees, 173

registering for, 14, 166

what it is, 216

account classifications, 37, 367

account types, 37

accountants

communicating with, 308, 309, 313

reconciling figures, 309–312

sending data to, 75, 307–308

accounting cycle, 8

accounting equation, 40–43, 367

accounting fees, 26

accounting software

access restrictions, 90

archiving data, 69

choosing, 73–83

developing skills in, 322

double-entry bookkeeping, 50–51

incremental installation, 87

inventory, 224

opening balances, 292

overview of products, 78–81

payroll software, 177, 183

pros and cons, 73

setting up, 84–87

versus spreadsheets, 79

AccountRight. See MYOB

accounts

choosing, 134–136, 145, 152–154

customising, 85

accounts list. See chart of accounts

accounts payable. See also Aged Payables report

defined, 34, 367

reconciling, 277, 310

tidying up, 270–271

accounts receivable. See also Aged Receivables report

debiting, 47

defined, 32, 367

keeping tidy, 269

ratios, 300, 360, 367

reconciling, 277, 310

accrual accounting

explained, 51–55

for GST, 94, 274

matching principle, 255

pros and cons, 53, 127–128

sales, 144, 287, 297

accruals

defined, 367

future expenses, 254

reversing, 256

versus provisions, 254

accumulated depreciation, 33, 367

acid test ratio, 301, 367 ...