MYOB BusinessBasics

Overview of MYOB Basic features MYOB BusinessBasics has 3 modules - Sales (AR), Banking (Cashbook) and Accounts (General Ledger)  to help you manage your business.  As you go down the list of features, we want you to keep in mind that MYOB BusinessBasics is a great business tool that will save you time, make you more organised, and help you get paid faster. Note : If you need to track account payables, payments to suppliers, inventory and multi-user then MYOB BusinessBasics is NOT suitable for you. You should consider MYOB Accounting or Premier.   MYOB Command Centre MYOB has arranged its menu screen (called 'command centres') at the top of the screen for Accounts, Banking and Sales. These icons represents activities or transactions that a small business conduct on a regular basis in the running of their business. Point and Click Accounting To access the menus, use your mouse to point and click on the icon. Once you click on each icon, will open with its own flow chart of sub-menus, representing tasks that need to be performed for that Command Centre The window that opens up will look like your familiar looking paper forms that you use to manually write your payment voucher, or take your customer order. Double-entry accounting journals done for you MYOB BusinessBasics is an operations-based accounting software. Use MYOB BusinessBasics software to record daily operations such as invoicing and collecting payments from customers, and making payments of general expenses. After you complete the on-screen windows for a transaction (eg making payments for utilities), and click the 'OK' button, MYOB BusinessBasics will immediately create the accounting journal entries, and post it to the relevant journals. The transaction journals are saved and can be viewed and printed for audit purposes. Behind the simple MYOB interface is a powerful double-entry accounting system, which will be done for you automatically. It's as good as hiring a book-keeper. User friendly interface MYOB software uses plain English on its interface, and is designed for business owners who does not have formal accounting training. Accounting jargons are avoided at all costs. Words like 'Spend Money', 'Receive Money', 'Enter Sales', are used in to describe the tasks to be completed. MYOB's powerful, yet easy to use features will help you reduce the time spend on doing paperwork relating to all aspects of your business, and it will compile, collate and analyse the data into meaningful information which will help you better manage your business. Supporting documents and forms After you record the transactions in MYOB, you can print the relevant document such as payment vouchers, sales invoices, delivery order, official receipts and statements. These documents can be further customised by inserting your own logo, and rearranging fields and columns according to your own liking. Job / Project costing MYOB BusinessBasics is also an important business tool to help you track your project costs and budgets. You can also create Job codes to keep accurate and detailed records of projects income and costs. Jobs can be linked to specific customers. MYOB Tools & Reporting MYOB Tools There are several helpful tools in MYOB to help you get the most of the MYOB software. Find Transactions The MYOB software stores thousands of business records of your business. You need to be able to easily look for your records and transactions. MYOB has a special button aptly called 'Find Transactions'. This window allows you to search by account codes, customer or supplier names, invoice numbers and job codes You can use advanced filters to narrow your search by date range, amount range, reference numbers, and even wildcards used in the memo and payee name. Once you find the record you are looking for, you can click on the arrow button on the left to drill down to see the original transaction. Edit transactions You can edit the transaction if the arrow in the Transaction Journal is white in colour. If the arrow is greyed out, you cannot edit the transaction. To set the preferences, you need to go Setup module. Recurring transactions To save time, and more importantly, to ensure consistency, all transactions in MYOB can be saved as 'Recurring Transaction'. Recurring transactions are great for regular payments such as salary, rental and utility bills. It is also useful for once a year journal entry for depreciation or accruals, and even for ad-hoc purchases of services and goods. MYOB Reporting MYOB Reports are customisable, and provide information-on-demand There are over 70 financial and management reports that gives you a summarised and detailed information-on-demand on the state of your business. The reports are organised into modules so retrieving them is easy.   Since MYOB update the accounts after each recorded transaction, you can therefore have the latest financial status and reports such as Balance Sheet, Income Statement or Aged Receivables at any time you want. You can also convert the reports to comma-separated or tab-delimited ASCII formatted text files for purposes of exporting to other systems. Customising reports in MYOB You can customise the content and look of your reports. You can filter your reports to include only a particular account , a particular customer, or specific details such as last contact date. You can add or hide report fields, and drag the field names to reorder the columns of the report.