MYOB Accounting Software Review

MYOB Accounting Software is accounting software that helps in the process of selling and buying, track accounts receivable trade payables (payable), taxes, and many more activities or transactions that can be performed in the MYOB software application This, just by clicking a few buttons only. MYOB accounting also facilitates the design process as desired, making it easier to use for finding information about your business.

Facilities and the workings of the MYOB Accounting Plus v. 

The completeness of MYOB Accounting plus the facilities are shown in the accounting module which can be dealt with. The module works in an integrated and a very high level of coordination so that work done by one part will affect the other (Linked Accounts). MYOB program can be used effectively and efficiently with a way of understanding the process of the work program in connection with process accounting (accounting process). The process begins with the MYOB accounting with noted initial data company and ending arranged financial statements.

The functions of each module relates to the accounting process using MYOB Accounting Plus v. 12 are as follows:

• Accounts, this facility serves to record the initial data of the company in the form of record keeping.
• Accounts, process transactions and transaction journalling process.
• Banking, serves to record, print proof of transactions and the company's financial statements in transactions using module Chequebook.
• Sales, serves to record, display and print proof of transactions and reports include an analysis of sales of goods and services.
• Time Billin, Used to record the sales transaction services are included in the list of activity (activity list) are recorded via the menu Time Billing (for MYOB V 13).
• Purchases, serves to record, display, and print a proof of the transaction as well as the report included analysis of the purchase of goods and services.
• Payroll, used to record the transactions of payroll employees or employees, the calculation includes base salary, bonuses and employee income tax calculation (for MYOB V 13).
• Inventory, serves to record the data of dollars traded goods, determine and change the selling price as well as the administration of inventory items.
• Card File, Card Files function to archive customer data, supplier, employee data related to transactions of purchase and sales of merchandise or services.

Here is a chart of the phases of the accounting Data processing Activities using MYOB Accounting Software:

Note:

Activity 1 – 7: activity Setup initial Data company.

Activity 8-9: activities of transaction Data Entry company.

Activity 10: presentation of financial reports and Activity reports of other management.

THE ADVANTAGES OF THE MYOB

Some of the advantages offered when a business is managed to utilize MYOB among others are:

1. Easy of use; MYOB offers convenience in usage, meaning that users can use MYOB although concerned have no bookkeeping background at all. The key is to setup and implementation. The hardest thing and the most important in the application of MYOB is at the time of the setup process, where the existing business processes in companies in the automation tools using MYOB, resulting in the execution of its utility, the user just have to follow the business processes that have been compiled previously.
2. Accounting Power; MYOB software has quite a long time developed and continuously issuing fixes release. So the management information using MYOB software is pretty reliable. All setup is done has done well and properly, MYOB may issue reports that can be relied upon.
3. Featured Job and Category that can be used for project management as well as in accordance with the department, so that it can be acquired management reports per project or per department which is useful for management to know the performance and as a basic step repairs to be done.
4. The process of installation and maintenance. MYOB installation can be done easily and usually charge yearly maintenance, meaning that although MYOB has issued the latest release, users of previous releases can still be using it, and if needed can do the upgrade purchase prices are relatively lower than the new purchase.
5. Labor who know and understand or at least know the MYOB pretty much found on the market. Has many good educational institutes developing institution courses or university level educational institutions that teach MYOB software as part of the Accounting lesson.
6. Can be used to monitor the accounting period of 3 years, meaning in the next three years management can still see deals for 3 years back without needing to do the process closes the book.
7. The value of the investment is relatively inexpensive. The price of the most expensive product was less than USD 1,000,-(excluding training and implementation). The key is the execution of the setup and implementation. Please choose a company that has a power that has had experience in conducting the implementation of MYOB. More companies that have implemented; certainly the more benefits we can get from the experience of the consultant.
8. A period of relatively rapid implementation. All data for the implementation of the detailed data such as balance sheet profit and loss statement you can prepare quickly; then MYOB implementation will be solved quickly also

THE WEAKNESS OF THE MYOB

Beside the advantages, MYOB also have some weaknesses.

1. The Database of MYOB is a database that is locked, meaning that users cannot modify reports, modify a field in MYOB, allowing customization where necessary relatively difficult met by MYOB.
2. MYOB is foreign-made software so there is no tax feature in it. The making of the report about taxation as VAT reporting and other forms not available in MYOB and should be managed outside of the MYOB software.
3. There is no fixed assets module, so if the company requires the module to manage the assets that are owned not be met by MYOB. Examples of businesses that require among other things is a genset rentals require the existence of location management, maintenance, and other types of goods.
4. The weakness of the Multi Warehouse which resulted in the management of goods consignment relatively difficult managed in MYOB.
5. MYOB cannot be used to manage a company with multi company consolidation reports, meaning that it cannot be expected to be created by using MYOB.

MYOB Accounting Software