You can import an accounts list into MYOB to update the default accounts list. This is handy when you're setting up MYOB if you have an accounts list you've exported from another program or have it in a spreadsheet.
You can also export the accounts list from MYOB to use in another program. Exporting is also a quick way to create a template file which you can use to populate with your accounts info, ready for importing into MYOB. We've also provided a blank template that you can populate with your account details, ready for importing.
Let's step you through it.
To export an accounts list
Click your business name and choose Import and export data.
Click the Export tab.
For the Data type choose Chart of accounts.
In the Balances from field, choose the year you want the account balances to be reflected from.
Choose an option from the Account balance list (All transactions, Exclude year end adjustments or Year end adjustments only).
Click Export. The file will be exported as a tab-separated TXT file which can be opened in a spreadsheet or text editing program. The first row will be a header row, listing all field headers.
To import accounts using a sample template
If you've exported your accounts list from another program, it might not be in the right format to import it into MYOB.
So we've created a sample template that contains the required columns (fields) that you can populate with your own account details. Just download the template, open it in Excel and enter your data, then import the file into MYOB.
1. Download and modify the sample template
Right-click this template file and save it to your Desktop: ACCOUNTS.txt
Open a blank workbook in Microsoft Excel.
Click and drag the downloaded sample template onto the workbook. The file will open in Excel and the contents of the template will be displayed.
When looking at the file in Excel, note the following:
the first cell (A1) contains parentheses (brackets) - these need to remain, as they indicate that the import file is for MYOB.
the second row (beneath the row with the brackets) is labeled, so you can easily work out what type of information is required in each column.
Enter your data in each applicable column. Remember:
each column in the import file represents a field in MYOB
each row in the import file represents a different account
leave the brackets on the first row, and the headings on the second row.
For more details about each of the columns (fields) in the import file, see the FAQs below.
When you're done, save the template as a text (.TXT) file. If you like, you can give the file a meaningful name, such as "Accounts List Import" or similar.
2. Import the prepared template
When you import the prepared template, your accounts list will be updated. There's no way to undo the changes after importing, so make sure you choose the correct import options.
Click your business name and choose Import and export data.
On the Import tab, for the Data type choose Chart of accounts.
Click Browse and locate your import file template.
Click the import file then click Open.
Choose the applicable option for If duplicate records are found. For example, if account 1-2300 exists in MYOB and you try to import an account with the same number, and you choose to:
Update existing data—the information about account 1-2300 in MYOB will be updated.
Reject duplicates—the information about account 1-2300 will be not be imported.If you want to delete unused accounts in MYOB as part of the import process, select the option Delete unused accounts.
What's an unused account?
These are existing accounts in MYOB which have never been used in a transaction. Even if you delete an associated transaction, the account can't be deleted. Also, linked accounts can't be deleted.
Click Import.
At the confirmation message, click Import.
FAQs
What are the field (column) requirements in the import file?
The columns in your import file represent the fields in MYOB, for example account number, account name, etc. The information entered into these fields must meet the field requirements to ensure the file imports successfully.
Here's a description of each field.
Field | Description | |
|---|---|---|
Account Number | Alphanumeric codes and special characters are supported. Maximum of 10 digits. Example 1-2300 | |
Account Name | Up to 60 characters. Alphanumeric characters supported. Example Petty Cash | |
Account Type | Asset (header accounts only) | An asset header account, under which sit other asset type detail accounts (Bank, Accounts receivable, Other current assets, Fixed asset, Other asset) |
Bank | Money in the bank, for example, in a cheque or savings account. | |
Accounts receivable | Money owed to you by your customers. | |
Other current asset | Assets that, if required, can be turned into cash within a year. These may include your term deposits. | |
Fixed asset | Assets which have a long life, for example, buildings, cars and computers. | |
Other asset | Other assets you own such as loans made to others and goodwill. | |
Liability (header accounts only) | A liability header account, under which sit other liability type detail accounts (Credit card, Accounts payable, Other current liability, Long term liability, Other liability) | |
Credit card | Repayments required to service credit card debt. | |
Accounts payable | Money owed by you to your suppliers. | |
Other current liability | Money owed by you that is due in less than a year, for example, GST. | |
Long term liability | Money owed by you that is due in more than one year, for example, a business loan. | |
Other liability | Other money you owe. | |
Equity | The business’s net worth, that is, its assets minus its liabilities. Common equity accounts are current year earnings, retained earnings and shareholders’ equity. | |
Income | Revenue from the sale of goods and services. | |
Cost of sales | The direct cost of selling your goods and providing services, for example, purchase costs and freight charges. | |
Expense | The day-to-day expenses of running your business, for example, utility bills, employee wages and cleaning. | |
Other income | Other revenues, for example, interest earned on savings and dividends paid from shares. | |
Other expense | Other expenses, for example, interest charged. | |
Header | Enter H if the account is a header account. Leave the cell blank for non header (detail) | |
Parent Account Number | For all accounts, enter the corresponding header account number. For example, if the header account is 1-2300 Sales and the detail account being imported is 1-2301 Professional services, enter 1-2300 as the parent account number. If your accounts don't have header accounts, enter the default parent account number based on the type of account being imported. For asset accounts use 1-0000 For liability accounts use 2-0000 For equity accounts use 3-0000 For income accounts use 4-0000 For cost of sales accounts use 5-0000 For expense accounts use 6-0000 For other income accounts use 8-0000 For other expense accounts use 9-0000 | |
Tax Code (Australia) | ABN | No ABN Withholding (47%) |
CAP | Capital Aquisition (10%) | |
EXP | GST Free Exports (0%) | |
FRE | GST Free (0%) | |
GNR | GST (Non-Registered) (0%) | |
GST | Goods & Services Tax (10%) | |
GW | Consolidated WEG & WET (0%) | |
INP | Input Taxed (10%) | |
ITS | Input Taxed Sales (0%) | |
LCG | Consolidated LCT & GST (0%) | |
LCT | Luxury Car Tax (33%) | |
N-T | Not Reportable (0%) | |
VWH | Voluntary Withholdings (20%) | |
WEG | GST on Wine Equalisation Tax (13%) | |
WET | Wine Equalisation Tax (29%) | |
Tax Code/GST Code (New Zealand) | S15 | Standard (15%) |
S | Standard (13%) | |
E | Exempt (0%) | |
Z | Zero-Rated (0%) | |
IMP | Import Duty (100%) | |
N-T | No Tax (0%) | |
Inactive Account | If the account being imported is an inactive account, leave this cell blank or enter Y.For active accounts, enter N. If the Inactive Account field is omitted from the import file, then accounts will be imported as a inactive. |