AssetManager Pro MYOB AccountRight Integration

Using MYOB AccoutRight Classic and Live with AssetManager Pro - Depreciation Journals (v4 or later)

Overview

AssetManager Pro has been designed to integrate into a range of popular Accounting systems including MYOB AccountRight, Reckon Accounts, Intuit QuickBooks Online and Xero.

The following article provides an overview of integrating with the MYOB AccounRight Live (204-2017) and AccountRight Classic (v19 or less) products:

The key steps are:

1. Ensure your Asset at Cost, Accumulated Depreciation and Depreciation Expense are entered into AccountRight
2. Create the same Accounts in AssetManager Pro via the Accounts List
3. Link the Accounts to their Asset Groups in AssetManager Pro
4. Report on the Depreciation Journals in AssetManager Pro
5. Export the Journals from AssetManager Pro
6. Import the Journals into AccountRight


Setting up AccountRight Accounts in AssetManager Pro.


The first step in integrating AssetManager Pro with any Accounting system is to enter the various asset related accounts including Asset at Cost, Accumulated Depreciation and Depreciation Expense.

Typically there is one of each of those accounts per Asset Group for example Motor Vehicles, Computer Equipment etc

The screenshot below shows the Asset Accounts for Motor Vehicles, Plant and Equipment, Building and Improvements, Artwork and Land in the latest version MYOB AccountRight Live

 


These Accounts along with the applicable Depreciation Expense Accounts are entered into the Account List screen in AssetManager Pro (Accessed via the Setup Menu)




Linking the Accounts to your Asset Groups in AssetManager Pro


The next step is to link the Accounts to the Asset Groups in AssetManager Pro. This ensures the Asset Depreciation and Transaction Journals are generated in line with the separate accounts defined by the Asset at Cost, Accumulated Depreciation and Depreciation Expense Accounts for each Asset Group.

The Accounts are linked via the Asset Group Screen



Reporting on your Depreciation Journals


With the Accounts created and linked, you can now run the Asset Depreciation Journals (supported by a range of detailed and summary Depreciation Reports) to get the Journals that need to be entered/imported into MYOB.





Exporting Depreciation Journals and Importing into MYOB



Rather than manually entering the journals as per the report above, you create an import file that import directly into MYOB via the General Journal Import.
To export in AssetManager Pro go the File Menu>Export>Depreciation Journals.

You will then get a choice of the format to export and specifically for MYOB the AccountRight Live OR the v19 or less versions





Then in MYOB use the Import and Export Assistant to Import the Depreciation Journals.


 
 
 

    • Related Articles

    • Using Xero with AssetManager Pro

      Overview AssetManager Pro has been designed to integrate into a range of popular Accounting systems including MYOB AccountRight, Reckon Accounts, Intuit QuickBooks Online and Xero via the generation of a journal import file that is exported from ...

    • AssetManager Pro - Back Home!

      GRAGA Software Solutions and MYOB AssetManager Pro In 1996 MYOB commissioned GRAGA Software Solutions to develop what was later to be called MYOB AssetManager. Over the past 18 years GRAGA continued to develop MYOB AssetManager and MYOB AssetManager ...

    • AssetManager Pro 2018 v7 Release Info

      Overview Information on the GRAGA AssetManager Pro 2018 (v7) upgrade. AssetManager Pro 2018 Upgrading from MYOB AssetManager Pro? If you are a current MYOB AssetManager or MYOB AssetManager Pro user you will find a lot has changed with AssetManager ...

    • AssetManager Pro 2019 v8 Release Info

      Overview Information on the AssetManager Pro 2019 (v8) Release. AssetManager Pro 2019 Upgrading from MYOB AssetManager Pro? If you are a current MYOB AssetManager or MYOB AssetManager Pro user you will find a lot has changed with AssetManager Pro! ...

    • How does MYOB AssetManager Pro calculate depreciation using Diminishing Value?

      What is Diminishing Value? Diminishing Value is a method of depreciation that applies a set percentage to the open written down value each year. This is the amount remaining for depreciation after deducting prior depreciation and other adjustments ...