As every business owner can verify, particularly those with tight margins, managing your daily workload whilst monitoring and maintaining your cash flow and accounts can be overwhelming. Online business software needs to be more functional, interactive, and flexible than ever; providing a seamless and transparent flow between a business and its customers.
MYOB was developed to give SMEs the ability to efficiently control and manage every aspect of their business finances in a simple to operate and navigate, package. From the outset, it was MYOB’s user-friendly interface and functionality, providing a clear and concise overview of finances combined with superior reporting and tracking capabilities, which made it stand out from the crowd. The Command Centre screen has always been a major factor in MYOB’s attraction due to its deceptively simple graphics with logical pathways and links.
Founded in New Zealand in the early 80’s, MYOB was developed to furnish businesses with an accounting software package which was user-friendly, tracked all aspects of transactions, banking and inventory, could be integrated with other modules such as payroll and which collated detailed tax and financial data.
The success of this quickly made MYOB a market leader in finance and accounting software providers. By 2004, MYOB Exo was launched to cater to medium-sized business (defined as a business whose personnel numbers are 100 to 999 employees).
Originally a single-user application, MYOB has now evolved into a sophisticated, multi-user system with Cloud based capabilities, enabling remote permission-based access from anywhere in the world.
Amongst its many attractions, MYOB now offers businesses the ability to:
- Customise invoices and data with the flexibility to personalise customer fields, reports, etc.
- Easily navigate between sectors from a central command centre
- Interact with Microsoft SQL databases
- Deal with multi-currency
- Be Microsoft Windows compatible
- Be integrated with other software packages such as Excel to enable detailed data manipulation and analysis
- Be accessed by multiple users from remote locations
- Monitor inventory and stock levels from anywhere in the world
- Track and report key ATO data including GST and PAYG
- Produce sophisticated, detailed reports
- Keep ATO compliant with Single Touch Payroll reporting
A brilliant aspect of MYOB is the ability to choose the package which suits your needs, rather than pay for modules you don’t use or which are unsuitable for your industry. An example of this may be the sole trader who has no requirement for payroll facilities.
In their most recent incarnation MYOB’s range of software packages such as MYOB Essentials, MYOB Premier and MYOB AccountRight, now boast the capacity to integrate with over 300 (and counting), industry specific software and Apps. This creates a ‘one-stop shop’ where it is possible to generate instant on the job quotes and invoices, record transactions, monitor stock and control inventory and track cash flow and banking activity in real-time – a huge boon to businesses.
Accounting software will only ever be as functional as the people who use it, which is why, in the constantly changing world of accounting with all its compliance issues, ongoing training and support is paramount.
MYOB’s range of training and support networks include webcasts, community forums, blogs and comprehensive classroom and online training modules backed up with live troubleshooting and technical support.
As a small business owner who adopted MYOB over twenty years ago, I have seen it grow and flourish to meet the demands of the modern office to become one of the most powerful and efficient accounting tools available on the market today. If you are looking for a full service accounting solution for your company, MYOB is definitely worth a look.