MYOB BusinessBasics is an entry level accounting software. It is suitable for small and service-based business enterprises (or micro businesses)
This is the best accounting software for you if you are running a business by yourself, or managing associations & clubs, religious organisations, tuition and learning centres, kindergarten, day care centre, insurance agency, NGO's, consulting firms, designer, photographers, or providing similar services.
This basic accounting software will help you take care of invoicing, manage your cash receipts and expenditures, help you with the basic bookkeeping functions, and generate the accounting reports for management and financial reporting purposes.
MYOB Business Basics has the following functions to help you manage your small business :
MYOB Business Basics does not track credit purchase, account payable or stock movement.
If your business requires to record credit purchases, or track accounts payables or track inventory purchase, then you need to invest in our higher range of software, MYOB Accounting or MYOB Premier.
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.
Need help with setting up MYOB Accounting system?
Use the MYOB BusinessBasics Sales Command centre to issue quotation, sales order or sales invoice to your Customers. All processes that you need to complete for Sales function are presented in a logical flowchart.of tasks. There are no other hidden commands.
With this easy to use business management software, you will be able to simplify the way you raise a quotation and invoice your jobs or projects.
You can perform several BusinessBasics functions using the Sales Register, such as recording receive payments from customers, editing a sale, or changing the status of a sale (e.g converting a Quote to an Invoice)
Customise your own Invoice formats, by inserting your business logo and any special message on it.
Create professional looking invoices without having to spend a lot on printing costs.
MYOB Accounting system will update your bank register, and the customer ledger once you record the customer's payments.
You can get an updated Debtors Aging Report immediately
The bottom portion of the Bank Register also allows you to quickly and efficiently enter all your transactions from one window.
You can click on the zoom arrow beside the transaction date to drill down and open the source window of each transaction for more detailed information.
Enter details of supplier, the cheque number, date of cheque, and payment amount. Select the appropriate account name, and then click the OK button to save this transaction.
MYOB will automatically reflect the amount in your bank register, and update the Income Statement for the amount spent.
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 BusinessBasics print the payment details onto your cheque.
Just this function alone could save you money.
The advantages of printing the cheque using MYOB software"
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. If you need to get up and walk away from it for awhile, you can just close the reconciliation worksheet, and 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 BusinessBasics 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.
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, and invoice direct to your customers because MYOB BusinessBasics 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.
MYOB BusinessBasics makes it easy for you to easily track the tax (GST, VAT, Sales Tax) and prepare the tax reports to identify your tax obligations.
It also helps to track the tax paid, tax collected and as well as identifies any tax transactions you may have missed
When you're running a business by yourself, it is important to have a complete understanding of all of your costs.
With MYOB BusinessBasics, you can assign job-specific expenses to their respective projects. You are then able to get immediate breakdown of the income and expenses incurred, and tell at a glance the net profit (or loss) for a particular job.
MYOB conveniently stores the information of your customers and suppliers in a section called CardFile.
You can also group the customers into user-defined categories for classification purposes. You can easily use the accounting system to generate a list of addresses of your customers, and send the report to Microsoft Excel for further analysis.
Minimum system requirement to install MYOB BusinessBasics software