MYOB

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MYOB is an accounting solution for small and medium sized businessess.

It is an easy to use solution that streamlines your business processes while doing the accounting entries in the background.

There are 2 editions for MYOB:

myob accounting v17

MYOB Accounting v17

MYOB Accounting is a single-user, fully integrated accounting solution ideal for small businesses that are owner operated or where only one person is performing all the business related functions like issuing a sales invoice, making payments, entering receipts, etc.

myob premier v13

MYOB Premier v13

MYOB Premier v13 is single and multi-user with all the features of MYOB Accounting plus multi currency, multi location inventory, multiple pricing levels, and more.

Multi-user allows you to delegate and streamline functions like having an employee manage sales, another to manage purchases and inventory, while finance functions are attended to by another employee.

MYOB is for the most part a single-entry system, which means you do not have to understand double entry concept of accounting.
For example, when you issue an invoice to a customer, it’s just like an Excel spreadsheet, and there are no debit or credit entries that you have to make.

To create a sales quote, invoice or order:

  1. In the MYOB Command Centre, click on Sales, then Enter Sales,
  2. Select the Customer. The customer’s contact details are filled in from the details you entered in the Card File.
  3. If necessary, enter the invoice number, date and customer’s reference number,
  4. In the Ship column, enter the quantity of the items the customer is ordering,
  5. In the Item Number column, select the item. The item’s description and unit price is filled in. Change this if necessary.
  6. Repeat steps (4) and (5) for all the items that the customer is ordering
  7. Click the Record button at the bottom right of the screen
  8. That is it! You’ve recorded the invoice and MYOB has recorded the accounting entries for you.
Please note:
If you are not familiar with setting up MYOB, it is best to engage a consultant to assist you.
The way MYOB is initially setup is very CRUCIAL to the ACCURACY of the information that is recorded and presented in financial reports.
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