How Is MYOB Plus Beneficial To Small Business?

If you are currently using MYOB Basics or MYOB Accounting for your business bookkeeping, you might be considering upgrading to MYOB Plus. MYOB Plus is the intermediate software in the MYOB range that gives you more advanced bookkeeping and analysis tools than the more basic versions of MYOB. MYOB Plus retails around $230 for a single user unit compared to the $99 you will pay for MYOB Basics. The little extra you pay will offer you a lot more in terms of the scope of bookkeeping and the type of reports you can generate for timely business analysis purposes. MYOB Plus can be used by most small businesses, whether they sell/make products or are a service business. Before investing in MYOB Plus software, you should book into one of the many MYOB courses taught by accredited professionals as it will help you develop proper understanding of the function and capabilities of the software. A generic online MYOB manual can also give you a preview of what to expect from MYOB Plus and you can test out a trail version of the software. For users of other book keeping software like Quicken, QuickBooks (or even your own spreadsheet system), MYOB Plus allows you to import existing data into you new MYOB Plus system to save lots of time. Once you install MYOB Plus, take advantage of the MYOB manual and tutorials on the software to learn the functions of MYOB Plus

MYOB Plus Features

Like all other MYOB versions, MYOB Plus offers a central command system with easy access to major bookkeeping functions including banking, sales, time billing, purchases, payroll, accounts and inventory listing as well as customer/supplier card files. Inexperienced users and bookkeepers who have not attend MYOB courses with competent computer skills will find MYOB Plus very easy to adapt to as it does not overload users with accounting jargon and technical terms. The command modules in MYOB Plus quite often reflect traditional paper templates. For example the banking function looks like any typical checkbook, allowing users to understand and program sales and payment receipts in a familiar and confident way. MYOB devotees find it very useful that the software loads on the Command Centre page. This allows you to navigate easily to different sections like banking, sales, time billing, payroll, accounts, inventory and purchasing when needed. The Command Centre will also let users access to do lists, transaction search functions, analysis/report tools and a card file system to keep all the information on customers, suppliers and employees in one setting. Newer versions of the MYOB Plus also have BAS generating functions and can be linked to outline or your address book to send remittance and invoices.

How does MYOB Plus Benefit your Business?

  • MYOB keeps all your bookkeeping under one umbrella. Many small businesses may use different spreadsheets and manual files to keep bookkeeping dat. MYOB Plus collates all this information into one collective file and make access simply and efficient.
  • MYOB pioneered a flow chart system in the book keeping functions so the software is intuitive and easy to learn. It gives users a big picture look at the Command Centre and allows users to delve deeper into details and ‘small picture’ items. It is very good at allowing even the novice bookkeeper to learn how accounting and record keeping functions are related.
  • MYOB Plus helps with your business tax compliance – GST, BAS, fringe benefits, payroll tax and super payments can all be recorded, tracked and access quickly to save you time and money to generate regular tax compliance documentation. Studies by the Australian Taxation Board show that businesses that computerise their record keeping on systems like MYOB can drastically reduce their time and tax compliance costs.
  • MYOB Plus backs up all your financial and company files under one electronic file system so no more relying on paper systems to keep your vital records safe. MYOB systems automatically generate backups each day to ensure all your business information is kept safe.
  • MYOB Plus has powerful reporting and analysis tools for you to check on the health of your business – whether it is profit/loss, or cash flow budgets or end of the month sales data, you can use MYOB Plus to generate lots of different information about aspects of your business.
  • MYOB Plus is easy to customise so if you start a new related business or a new business department, you can use the safe software. Also, if you business changes (i.e. you add new services to existing physical products), you don’t need to change your accounting software. That’s a lot of money saved and reduce need to send your staff back to doing more MYOB courses!

For a small business looking for an intuitive and easy to learn intermediate accounting/bookkeeping software, you don’t need to look beyond MYOB Plus.


 

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