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MYOB Accounting - detailed features with screenshots

MYOB Accounting - detailed features with screenshots - Accounts Command Centre

Article Index
MYOB Accounting - detailed features with screenshots
MYOB Tools and Reporting
Getting Started with MYOB
Accounts Command centre
Banking Command Centre
Sales Command Centre
Purchases Command Centre
Inventory Command Centre
Card File Command Centre
Summary
All Pages

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

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)

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.

Budgets  

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  

MYOB Budget 

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.