Accounts Command Centre
The Accounts Command Centre allows you to create new accounts, edit and remove existing accounts, export your accounts list to your accountant, and establish budgets.
Screenshot : MYOB Accounts Command Centre
Also the place to enter your journal entries, and get an updated view of the ledger balance of all your accounts.
Accounts List (Chart of Accounts)
In MYOB, the accounts for your business are grouped in an Accounts List (or popular referred as Chart of Accounts).
The tabels at the top of the Accounts List is well organised and easy to follow
Screenshot : Accounts List (Chart of Accounts)
The account list groups accounts into 8 classifications : Assets, Liabilities, Equity, Income, Cost of Sales, Expenses, Other Income and Other Expenses.
Each account is identified by a unique 5 digit number, with the first digit indicating the account classification. The rest of the digits determine its location within the classification.
You can either create your accounts code in the Accounts List window, or create it while you are in the midst of recording your sales, purchases, or payment transaction.
You can enter budgets for the Company level, from a single window in the Accounts Command Centre / Accounts Lists sub menu.
Screenshot : data entry screen for budget Profit & Loss
You can enter budgets for 2 years (this year and next year) and for Balance Sheet and Profit & Loss Accounts. MYOB also provide shortcuts for you to copy the current year budget figures onto next year's budget so that you can make minor modifications.
To help you speed up your budgeting process, you can also export the budget format to Microsoft Excel. Once completed in Excel, you can import your budget figures into MYOB budget tables.
You can run reports that compares actual versus budgeted amounts. This helps you keep your business on track.