ANSWER ID:13366

If you use MYOB accounting software, you can export your transaction data from RetailBasics, for example sales, surcharges, tax collected and liabilities accrued by lay-bys, in a format that enables it to be imported into that software. This saves you from having to manually enter your data into the accounting software.

Note: Any payments made in a foreign currency will be exported as local currency amounts. The local currency amount will be calculated using the same exchange rate used in the original transaction.

The RetailBasics Accounting Export creates a Retail.txt file containing transaction data in the form of Journal entries to be imported into MYOB accounting software. Several options must be setup both in RetailManager and your MYOB accounting software in order to successfully perform the Accounting Export.

Setting up your MYOB accounting software to import from RetailBasics

1. Start your MYOB accounting software and open your company file.
   
2. Go to the Setup menu and choose Preferences.
   
3. Click the System tab.
   
4. Select the option I Use RetailManager. This will enable your accounting software to automatically detect and import the Retail.txt file located in your MYOB company file folder.
   
5. Click OK.

Setting up the Accounting Export in RetailBasics

Every transaction recorded in RetailBasics has an effect on the Accounting Export and subsequently your MYOB company file. The transactions you process do not export as you see them in RetailBasics, instead they are condensed into general journal entries which update your relevant accounts in your MYOB accounting software.

With each days trading, RetailBasics will look at the sales and payments processed and once a Count Takings procedure is performed, it will create a session containing the amounts.

1. Click ALT+A Admin to open the Admin window.
   
2. Click Setup and Maintenance.
   
3. Click Accounting Export Maintenance. The Accounting Information window is displayed.
   
   
   
4. In the Select the path and folder to store your accounting export file field, enter the location where you want the accounting data to be exported. Click Browse to select your export location in the Browse window.  This is usually the folder where your MYOB accounting software company file is located, for example C:\Premier19.  When you have located the folder, click Select.
   
5. Select the Exporting Method (Accrual or Cash). This option refers to what method your business uses to report GST. Consult your accountant if you are unsure which method to use.
   
6. Setup the General Account Numbers (Chart of Accounts) by specifying the applicable account numbers as per the following:
   
   Note: In your MYOB accounting software, accounts are comprised of an account type indicator, a hyphen, and a unique number, for example 2-1030. In MYOB RetailBasics, enter the account numbers without the hyphen, for example 21030.

1. Setup the Account Numbers for Payment Types. If required, change the account numbers for each active payment type. The default account number that appears is the bank account number for your daily takings that you entered in the previous step.
   Note: All these accounts should be asset accounts and should match the accounts already set up in your MYOB accounting software.
   
   Ensure the numbers you specify in RetailBasics are setup in your MYOB accounting software as Detail accounts and not selected as inactive or Header accounts which can be distinguished by their bold lettering in your MYOB Accounts List. Ensure you specify account numbers in every field marked with * of the RetailBasics Chart of Accounts.

Exporting from RetailBasics

Complete the following after completing your Count Takings Procedure. For further information regarding Count Takings/End of Day please refer to the RetailBasics User Guide.

1. Click ALT+A Admin to open the Admin window.
   
2. Go to the File menu and choose Accounting Export.
   
3. Select the session you want to export.  You may select more than one session.  You may also select a session that has already been exported, for example if you need to re-export a session.
   
4. Click Export.
   
5. On completion, a window will be displayed stating the number of sessions that exported successfully into the destination folder.  Click OK.

Importing into your MYOB accounting software

Start your MYOB accounting software. A window will automatically appear asking you if you want to import the Retail.txt file. Click Yes.

Note: If your MYOB accounting software is already running, you will need to go to the File menu and choose Import Data then RetailManager.