Export - Importing into MYOB V2015
To Import your data into MYOB, use the Import Data facility, located on the File Menu within MYOB.
Select the File Type you wish to import. This will be either General Journal Entries, Receipts or Sales.
Click Browse to locate the export file you created from Stallion by Wilmat. The export files will normally be located in the "c:\wilmat stallion v3\data" folder on your computer.
Select the file format that you used to create the export file, it will either be TAB or COMMA delimited. The first record in the export file is a Header Record. The export file created in Stallion by Wilmat has been created to match the default entries in the MYOB Import Assistant. Select Next to proceed.
Select "Match All" then click "Next" to proceed.
Click "Import" to commence importing data. Please ensure that you have a current backup of your MYOB database before proceeding. Click "Back up" if you wish to back up your database.
Once your data has been imported, the Conclusion screen below will be displayed. If errors were encountered in the import process, click "click here" to view the import error log.
General Journal Entries
When you import into MYOB or other system, the Owner Sales or Owner Receipts will appear as General Journal Entries. Below is an example of how the journal entries should appear.
Sales Journal (Cash Basis)
If you account for GST on a "Cash" Basis, the GST invoiced will be transferred to a GST Invoiced account in your General Ledger. As you receive payments from your Owners, the amounts of GST received are transferred from the GST Invoiced Account to the GST Collected account.
Please Note: An extra entry will sometimes be created to allow for rounding differences in the GST calculation. Rounding errors may occur because Stallion calculates GST on individual invoices and MYOB calculates GST on the total value of sales.
Also Note: This version of MYOB will transfer GST Collected to the GST Linked account overriding the account you have created for GST Collected - Stallion. The journal created by Stallion will be changed by MYOB to direct the GST to its GST Linked Account. In this case you must not use the GST Collected account as your Stallion GST Collected account, instead, record the GST Invoiced - Stallion account in both the GST Invoiced and GST Collected fields in the Stallion options.
Sales Journal (Accrual Basis)
If you account for GST on an "Accrual" basis, the sales import journal will allocate the GST directly to the GST Collected account within the General Ledger.
Cash Receipts Journal - (GST None or Accrual Basis)
The General Journal Entry for a GST Basis of NONE or ACCRUAL will consist of a Debit to the Bank Account and a Credit to the Trade Debtors Account.
Cash Receipts Journal - (GST Cash Basis)
The General Journal Entry for a GST Basis of CASH will consist of a Debit to the Bank Account and a Credit to the Trade Debtors Account. The journal will also transfer the amount of GST received in the receipt from the GST Invoiced account to the GST Collected account.
The GST Invoiced account will reflect the amount of GST that has been invoiced to owners and not yet received by way of owner receipts. It represents the future GST liability assuming that all owners pay all outstanding amounts. The GST Collected account reflects the amount of GST that has been received with owner payments. It is the amount that will be due to be paid in the next Business Activity Statement.
Please Note: An extra entry will sometimes be created to allow for rounding differences in the GST calculation. Rounding errors may occur because Stallion calculates GST on individual invoices and MYOB calculates GST on the total value of sales.
Also Note: This version of MYOB will transfer GST Collected to the GST Linked account overriding the account you have created for GST Collected - Stallion. The journal created by Stallion will be changed by MYOB to direct the GST to its GST Linked Account. In this case you must not use the GST Collected account as your Stallion GST Collected account, instead, record the GST Invoiced - Stallion account in both the GST Invoiced and GST Collected fields in the Stallion options.
Sales Entries
When you import into MYOB or other system, the Owner Invoice will as Sales transactions. Below is an example of how the entries should appear in the transaction journal.
When importing invoices and payments into MYOB the Stallion Debtor (Owner) is matched with the MYOB Debtor using the Owner/Debtor name. It is therefore necessary to use the exact same name (spelling and punctuation) in both Stallion and MYOB.
You can populate your MYOB database with your Stallion Debtors by exporting your Owner Details from Stallion and importing these into MYOB, thus ensuring the Stallion Owner names are exactly the same as the MYOB Debtor name.
Payment Entries
When you import into MYOB or other system, the Owner Payments will as Receipt transactions. Below is an example of how the entries should appear in the transaction journal.
