MYOB Accounting

The best accounting software for small business

MYOB Accounting Software is the best value for money accounting software for small business.  It comes complete with Accounting modules, Sales & Purchasing modules, and also the Inventory modules.  

MYOB Accounting software is powerful, yet easy-to-use business software, and is applicable for any kind of business.

This business accounting software will help you process sales and purchases, track receivables, payables and GST.  You can email your quotes, and invoices.  With MYOB Accounting's powerful inventory management system, you will know exactly what is in stock, on order and committed.

Use MYOB Accounting system to manage your cash receipts and expenditures,  manage your stock, goods or inventory, and  generate the accounting reports for management and financial reporting purposes.

Functions available in MYOB Accounting software

MYOB Accounting Software has the following functions to help you manage your small business

  • Accounts  (Chart of Accounts, Budgets)
  • Banking  (Bank Register, Bank Reconciliation, Payment Vouchers, Official Receipt)
  • Sales & Receivables (Enter Sales Quotes, orders and Invoice, Receive Payment, Print Invoice, Print Statement, Analyse Receivables)
  • Purchases & Payables (Enter Purchase Order and Bills, Print PO, Pay Supplier Bills,  Analyse Payables)
  • Inventory (track quantity and value of items you buy and sell)
  • CardFile Management (Maintain Customer, Supplier and Employee details)
  • Jobs Management (Maintian project details - income and expenses, budget)
  • To-Do List (Quick access to important tasks)
  • Reports

Powerful, easy to use Accounting Software

  • MYOB Accounting is not just an accounting software
  • Its an integrated business and inventory management solution
  • Get real time data, anytime.
  • No month end posting required
  • Help menu accessible from every screen
  • All reports can be exported to Microsoft Excel for further analysis
  • More than 1,000,000 users worldwide use MYOB to manage their business operations
  • MYOB accounting products have been developed and sold in Australia since 1990, and distributed in Malaysia since 1996.
  • It is GST ready.  Used in many GST countries worldwide.

Easily set up your MYOB Accounting System

Need help with setting up MYOB Accounting system? 

  • The Easy Setup Assistant  is a series of questions that will help you setup your accounts according to your industry and business needs.
  • You can be up and running in minutes.
  • Access the Getting Started Guide, User Guide and built-in help files
  • Built-in checker to check unbalanced entries and errors
  • use the inbuilt Data Auditor to detect common processing errors, and to ensure integrity of your business information
  • Related processes are grouped together and presented in logical flowcharts - easy to find
  • Simple English terms is used, instead of accounting jargon

 

Screenshots MYOB Accounting Software

 

Accounts Command Centre

MYOB Accounts Command Centre

 MYOB Accounting Accounts screen

MYOB Banking function

MYOB Banking Command centre

 

MYOB Accounting Banking screen

 

 

 

MYOB Sales Command centre

  MYOB Sales Command centre

MYOB Accounting Sales screen

 

 

 

 

 

MYOB Purchases Command centre

  MYOB Purchases Command centre

MYOB Accounting Purchases Screen

 

MYOB Inventory Command centre

MYOB Inventory Command centre

MYOB Accounting Inventory screen

 

 

MYOB card file functions

  MYOB Cardfile Command centre

MYOB Accounting Card File screen

 

 

MYOB Accounting is GST ready

  • Allows user to create new tax codes, and link to ‘GST collected’ or ‘GST paid’ accounts
  • GST ready invoices
  • Link tax code to every stock item, and let the system calculate the appropriate tax amounts
  • Set a default tax code for your customer and supplier
  • Report all transactions with both default and the user-entered tax code for the transactions
  • Filter the Tax Code Exception reports to view transactions where the default tax code has been changed, or where no tax code have been entered
  • Enter an unlimited number of sales tax codes, including duties, on the invoice
  • Report on either a cash or accrual basis, and work with both GST inclusive or exclusive prices

MYOB Accounts functions

  • Get started fast with Easy Setup Assistant
  • Create your own chart of accounts
  • Or use the sample accounts provided
  • 5 digits accounts list
  • Track 4 levels of account detail
  • Mark unused accounts as inactive
  • View by account name or account number
  • Let the Smart Account Selection bring you to the correct account category for your transaction entry
  • Set 2 years budgets for all accounts
  • Budgets can be imported from, and  exported to Microsoft Excel
  • Allows 26 months ‘open’ periods
  • Records double entry accounting transactions behind the scenes for you
  • Maintain 7 years history

 MYOB Banking functions

  • Bank register allows you to see a running balance of your bank account status 
  • Drill down from the Bank Register / Transaction Journal to the source of the transaction
  • Enter line memo for every transaction
  • Prints ‘payment vouchers’ and cheques
  • Include logos and specific instructions on payment vouchers and receipts
  • Save recurring transactions to be performed accurately and on-time 
  • Set a reminder schedule for regular transactions
  • Display and alerts user on the due date of the recurring transactions
  • Access past transactions and create new transactions from the Bank Register
  • Reconcile bank accounts as of a past date
  • Undo previous month’s bank reconciliation when reconciled in error
  • Enter interest earned and service fees from the Bank Reconciliation screen
  • Drill down from Bank Reconcile screen to original transactions
  • Enter bank statement date to show only transactions applicable to that date
  • View a list of banks and the date it was last reconciled
  • View previous bank reconciliation report
  • Get a report on your undeposited funds
  • Receive warning if duplicate Cheque No.

 

MYOB Card File functions

  • Capture and manage extensive contact information for customer, supplier, employees and personal contacts
  • Store up to 5 addresses per customer or supplier,  each with 3 phones, an email,  web address and fax number
  • Customize data presentation for each customer and vendor – default salesperson, default sales/ expenses account code, default invoice format
  • Create letters with one-click access to Microsoft® Word and let MYOB fill in personalized information on letter templates, such as amount owed for collection letters
  • Create custom lists and fields for contacts
  • Lets you maintain a detailed contact log for every card
  • View a summary of contact notes
  • Group contacts according to identifiers
  • Generate mailing labels
  • Mark unused contact cards as inactive
  • Search by individual, company, postcode range, last contact date and more
  • View 5 year snapshot of your customer and supplier history

MYOB Purchase functions

  • Use the Purchases Register to view purchases status and create purchases, quotes, orders
  • Create purchases orders and quotes
  • Pay bills, receive refunds and apply debits to purchases from the Purchases Register
  • Look up purchase by PO No. or by vendor
  • Select credit terms by vendor or by individual purchase order
  • Track backorder quantity on purchase orders
  • Create instant purchase orders for backordered items
  • Remembers the primary supplier and the last price paid for the item
  • Buy and sell in different units
  • Drill down from purchases register
  • Email purchases to vendors

 

Customisable MYOB PO format

MYOB Sales functions

  • Easily customise your invoice format, add logos and specific instructions
  • Add lines, headers, subtotals to invoices
  • Create quotations, and orders and change to invoices easily, without having to re-type
  • Create a memo for each line on an invoice for better tracking: view a memo report
  • Set credit terms per customer or sale
  • Track the referral source of your sales
  • Save sales transactions as recurring for repeated use
  • Print/ Email sales quotations, delivery orders, and invoices to your customers
  • Email customer statements from  MYOB
  • Enter a default email message for emailing sale invoice, or customer statement
  • Use the Sales Register to view sales status and create sales invoice, quotation, orders
  • Drill down from sales register to access original information
  • Access a customer activity statement for a date range
  • Look up an invoice by invoice No. or customer PO No.
  • Track backorder quantity on invoice
  • Receive warning if duplicate Customer PO No. or Sales Invoice No. is entered
  • Set and enforce customer credit limits, and place customer accounts on hold 
  • Prevent users from recording sales if customer’s account is overdue, unless authorized
  • Display the total of all balances for your customers and the current balance of the Control (“Linked”) Accounts and compares them
  • Analyse sales by salesperson
  • Analyse profitability by product and customer

MYOB Inventory functions

  • Automatically track quantity and costs for all inventoried stock items
  • Assign description and images to the product
  • Track items that consist of components,  sub-assemblies, and finished goods
  • Set levels to automatically back-order, buy or build low stock items
  • Use the Items Register to see an inventory audit trail of all the sales, purchases and inventory adjustments recorded for a single item, or for all items.
  • View the quantity and dollar value of an item at a certain date  
  • Categorise your stock using 3 user-definable  fields per item - searchable 
  • Create item numbers with up to 30 alphanumeric digits
  • Receive low inventory warning upon sale
  • Mark unused items as inactive
  • Know what's in stock, what's on order, and the items committed to customers
  • keep track of what you buy and sell, and how much you have on hand
  • Reconcile inventory balances
  • Recall, edit, reverse and delete inventory adjustments and transfers

 

Email the Invoice to Your Customer

After you have recorded the Sales Invoice, you can click the Print Invoice button  to print the invoice which you can then send to your customer.  

Better still, save on postage and stationery costs by emailing the invoice straight to your customer so they receive them faster, and you will get paid faster.

You can email quotes, orders, invoice and statement direct to your customers.  MYOB Accounting create forms and reports as secure PDF documents that cannot be edited.   The email capability works with all MAPI compliant email software, including Microsoft Outlook

 

 

Customise Forms in MYOB

Every business is unique, and your business forms should portray your business uniqueness.  Redesign completely the MYOB invoice, statements and other forms to suit your business needs.   Make them your own.

You can customise a wide range of data fields, borders, background pictures, shading or coloured lines.

Want to add a logo, or a customised text?  Want to add header and subtotal lines?   The MYOB form designer makes it possible.

Printing cheques in MYOB

Turn your MYOB software into a cheque writer.  

You can customise the printed cheque so they fit the fields on the cheques you use.   Then, insert the cheque in the printer, and let MYOB Accounting print the payment details onto your cheque.  

Just this function alone could save you money.

The advantages of printing the cheque using MYOB software :

  1. Your cheque looks professional
  2. The amount in words is bound to be correctly spelt (by the computer)
  3. You have achieved 2 tasks with one action;  You have written  your cheque, and at the same time updated your accounting software with the record of payment.

Reconciling Bank Statement in MYOB

Reconciling your bank balance with the bank statement is an important accounting task.

The process of bank reconciliation process can be a long and tedious task.  

MYOB understands that you may need to get up and walk away from the bank reconciliation task  for awhile or for the day, so it has a built-in feature that allows you to pick  up your work right where you left off without affecting your unfinished work.

Click Reconcile Accounts button to begin the process of reconciling your bank book. Enter your bank statement balance and tick off the cheques and deposits that have cleared.  MYOB Accounting system will tell you if you’re out of balance.

If you need to make an adjustment for bank charges and other transactions, you can do it within the Bank Reconciliation window itself.

Templates for Recurring transactions

There are several repetitive transactions that you need to record, on a daily, weekly, monthly, quarterly, or yearly basis.  

Example of such transaction are payment of expenses such as rental, salary payments, utilities

You can create a template for such recurring transactions.  You will be reminded to record the transaction before its due.

 

 

MYOB project management

  • Track profitability by projects or cost centres, by using ’job list’ 
  • Track Job revenue, direct costs, expenses,
  • Track budgets for jobs
  • Track categories for division/ departmental reporting
  • Receive warning alert if user does not enter the job code or  category code for transactions
  • Run  an exception report to view all transactions where there are no job codes attached
  • Enter expenses to be automatically reimbursed from jobs

MYOB Security functions

  • Audit trail of transactional changes (delete, modify) and system changes (add, delete, modify)
  • Unlimited number of password-protected user profiles
  • Control which screens, reports, and menu items each user has access to.
  • Locks the previous month transactions

  • Inbuilt Data Auditor to detect common processing errors
  • Easily backup your data to any medium

MYOB Reports & Charts

  • Access over 160 up-to-date reports and charts
  • Make more informed decisions based on accurate and detailed information
  • Quickly assess and analyse your business performance
  • View reports according to cash or accrual based accounting
  • Customize and save reports
  • Connects with Microsoft® Office (Excel, Word)
  • Send reports to Microsoft Excel for 'what if' analysis, then save for future use
  • MYOB creates PDF-format documents of all reports, and forms, for transfer to an email program for review before emailing.
  • Send document and reports via email, and fax
  • View reports on-screen the way you like
  • View cash and/or accrual reports for Profit & Loss, Balance Sheet and  CashFlow Statement
  • Analyse key financial information using a range of interactive tables and graphs

No accounting experience

MYOB system does not require the user to have any accounting experience to use the system. 

MYOB Accounting system  takes care of the double-entry accounting entries for you.   It will post the transactions to the relevant accounts, and will generate the Trail balance, Balance Sheet and Income Statement automatically for you.

Gain Understanding with Business Insights

The Business Insights feature allows you to analyse key financial information, and provides current information about profits, turnover, and operating expenses between financial periods.

You can analyse:

  • available cash
  • cash flow movement
  • profit & loss
  • the money that you owe suppliers
  • the money that customers owe you

And then, use the information to make smarter decisions in a shorter period of time:

  • plan your expenditure
  • predict cash flow issues
  • renegotiate supplier payment terms
  • contact customers with overdue payments
  • negotiate a payment or discount with your supplier