|MYOB Business Basic - detailed features with screenshots|
|MYOB Tools and Reporting|
|Getting Started with MYOB|
|Accounts Command centre|
|Banking Command Centre|
|Sales Command Centre|
MYOB BusinessBasic is a basic accounting system especially created for self employed individuals and small businesses.
Behind the simple MYOB interface is a powerful double-entry accounting system that simplifies bookkeeping procedures and produces the financial reports reports behind the scene, without you having to do much.
View the features in detail with screenshots to help you visualise how to navigate round the software.
Overview of MYOB Basic features
MYOB BusinessBasics has 3 modules - Sales (AR), Banking (CashBook) and Accounts (Gen Ledger) to help you manage your business.
As you go down the list of features, we want you to keep in mind that MYOB BusinessBasics is a great business tool that will save you time, make you more organised, and help you get paid faster.
Note : If you need to track account payables, and payments to suppliers, then MYOB BusinessBasics is NOT suitable for you. You should consider MYOB Accounting.
MYOB Command Centre
MYOB has arranged its menu screen (called 'command centres') at the top of the screen for Accounts, Banking and Sales.
Screenshot : Command centre for MYOB BusinessBasics.
These icons represents activities or transactions that a small business conduct on a regular basis in the running of their business.
Point and Click Accounting
To access the menus, use your mouse to point and click on the icon. Once you click on each icon, will open with its own flow chart of sub-menus, representing tasks that need to be performed for that Command Centre
The window that opens up will look like your familiar looking paper forms that you use to manually wrte your payment voucher, or take your customer order.
Double-entry accounting journals done for you
MYOB BusinessBasics is an operations-based accounting software. Use MYOB BusinessBasics software to record daily operations such as invoicing and collecting payments from customers, and making payments of general expenses.
After you complete the on-screen windows for a transaction (eg making payments for utilities), and click the 'OK' button, MYOB BusinessBasics will immediately create the accounting journal entries, and post it to the relevant journals. The transaction journals are saved and can be viewed and printed for audit purposes.
Behind the simple MYOB interface is a powerful double-entry accounting system, which will be done for you automatically. It's as good as hiring a book-keeper.
User friendly interface
MYOB software uses plain English on its interface, and is designed for business owners who does not have formal accounting training. Accounting jargons are avoided at all costs. Words like 'Spend Money', 'Receive Money', 'Enter Sales', are used in to describe the tasks to be completed.
MYOB's powerful, yet easy to use features will help you reduce the time spend on doing paperwork relating to all aspects of your business, and it will compile, collate and analyse the data into meaningful information which will help you better manage your business.
Suporting documents and forms
After you record the transactions in MYOB, you can print the relevant document such as payment vouchers, sales invoices, delivery order, official receipts and statements. These documents can be further customised by inserting your own logo, and rearranging fields and columns according to your own liking.
Job / Project costing
MYOB BusinessBasics is also an important business tool to help you track your project costs and budgets. You can also create Job codes to keep accurate and detailed records of projects income and costs.
Screenshot : Job Information
Jobs can be linked to specific customers.
MYOB Tools & Reporting
There are several helpful tools in MYOB to help you get the most of the MYOB software.
The MYOB software stores thousands of business records of your business.
You need to be able to easily look for your records and transactions. MYOB has a special button aptly called 'Find Transactions'.
Screenshot : Find Transaction window
This window allows you to search by account codes, customer or supplier names, invoice numbers and job codes You can use advanced filters to narrow your search by date range, amount range, reference numbers, and even wildcards used in the memo and payee name.
Once you find the record you are looking for, you can click on the arrow button on the left to drill down to see the original transaction.
You can edit the transaction if the arrow in the Transaction Journal is white in colour. If the arrow is greyed out, you cannot edit the transaction. To set the preferences, you need to go Setup module.
To save time, and more importantly, to ensure consistency, all transactions in MYOB can be saved as 'Recurring Transaction'.
Recurring transactions are great for regular payments such as salary, rental and utility bills. It is also useful for once a year journal entry for depreciaition or accruals, and even for ad-hoc purchases of services and goods.
MYOB Reports are customisable, and provide information-on-demand
There are over 70 financial and management reports that gives you a summarised and detailed information-on-demand on the state of your business. The reports are organised into modules so retrieving them is easy.
Screenshot : Index To MYOB Reports in MYOb Business Basics
Since MYOB update the accounts after each recorded transaction, you can therefore have the latest financial status and reports such as Balance Sheet, Income Statement or Aged Receivables at any time you want.
You can also convert the reports to comma-separated or tab-delimited ASCII formatted text files for purposes of exporting to other systems.
Customising reports in MYOB
You can customise the content and look of your reports.
You can filter your reports to include only a particular account , a particular customer, or specific details such as last contact date. You can add or hide report fields, and drag the field names to reorder the columns of the report.
Getting started fast with MYOB Business Basics
You can get started fast with MYOB's helpful New Company File Assistant, which helps you create a new company file within minutes of installing the software.
The setup wizard guides you to choose the business accounts template that matches your industry and business type from among the 100's provided by the software. You can further edit the Chart of Accounts (called Accounts List in MYOB) to suit your business needs.
If you'd rather create your own Chart of Accounts from scratch, or import the Accounts List provided by your accountant, there is also an option for you to do so.
Screenshot : Build Your Accounts List option
Once you've created your company file, you will be ready to enter your first transaction.
Accounts Command Centre
The Accounts Command Centre allows you to create new accounts, edit and remove existing accounts, and establish budgets. It is also the place to record journal entry.
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 6 classifications : Assets, Liabilities, Equity, Income, Cost of Sales and 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.
You can enter budgets for current year. MYOB also provide simple shortcuts to asssit in the budget preparation.
You can run reports that compares actual versus budgeted amounts. This helps you keep your business on track.
Banking Command Centre
Banking Command Centre is the place to go when you want to perform banking transactions such as record deposits and payments, print official receipts, and reconcile your bank accounts.
Screenshot : Banking Command Centre
The Bank Register acts as your cashbook and show you all the entries recorded for deposit and withdrawal transactions. It shows you the running balance of your bank account and as such you will be able to know the status of your bank account immediately.
Banking > Spend Money
Use the Spend Money option to record payments for expenses such as rental, utility bills and purchase of fixed assets. Also pay you suppliers here.
Screenshot : Spend Money screen
You can also see the balance of your bank account when you are in the 'Spend Money' window, to assist you in planing your cashflow.
You can allocate your expenses to the respective job codes, and also tag the relevant GST tax code to the expense payment.
The spend money entry will be automatically updated in the Bank Register window. You can click the autofeed arrow to make changes to this entry if necessary.
Print cheques (onto your existing printer)
After recording the expenses, you can print the payment voucher.
In addition, you can also get MYOB software to print out the payee name, cheque date, and amount, onto the cheques, thus making MYOB software a cheque printer.
Using the Print Cheque feature in MYOB will definitely save you time, money, and best of all, minimise spelling errors.
You can print a batch of cheques and payment advice, or use the Advanced Filter option to find and reprint a particular payment advice.
You don't need a special printer, nor a special software.
Bank reconciliation is an important part of book-keeping because you need to make sure that the cheques you have issued or received are cleared by the bank, and also you need to account for bank charges or interest earned on your bank account.
It is also a means of verifying with a third party record. Comparing the bank statement with your MYOB records can flush out any errors made in your recordings or bank recording (Note: banks do make mistakes; they are human after all)
In MYOB, reconciling your bank accounts has been made even easier. The process requires you to indicate the cleared cheques and deposits in the bank reconciliation wndow. Once every cheque and deposit in the bank statement is accounted for, you will be able to print the reconciliation statement for filing purposes.
Sales Command Centre
The Sales Command centre covers the entire sales process - from creating quotations, orders and invoices, to receiving payments from customers, and printing statements and official receipts.
Screenshot : Sales Command Centre
The sales register keeps all the recorded sales documents - quotation, sales orders, sales invoices, and credit notes in one window for viewing and modification purposes.
Screenshot : Sales Register
Toggle between individual tabs for Quotation, Orders, Open Bills, Closed Bills, Returns and credits.
Get a snapshot of a particular customer's status from this window.
You can drill down to the original document by clicking on the arrow on the left side of the list to see the actual transaction. This is an effiicient way to serve your customer when talking to them on the phone or face-to-face. Go one step further and add notes of your conversation in the Contact Log window for future reference.
Enter Sales - Create Quotes that convert to Invoices
Use this function to prepare a quotation for a customer, and then turn it into a sales order with one click. One more click turns the order into an invoice.
Screenshot : Item Sales Invoice screen
It doesn't require any accounting knowledge to enter a sale in MYOB BusinessBasics. Fill in the on-screen invoice format as you would do in a spreadsheet or word processing program.
There are additional fields in the Enter Sales windows which you can use to track the promised delivery date field to manage your delivery runs and better-serve your customers.
if you are subject to GST, include the tax code for each line of service or product sold, to enable you to calculate the output tax accurately and on timely basis.
The beauty part is that after you've clicked the 'OK' button, MYOB software will create the journal entries for you. You can immediately view and print your financial statements (Profit & Loss, Balance Sheet, Customer Ledger, Debtors Aging etc) without waiting for month end (or year end) 'processing'.
Receive Payment from customers
Easily record payments received from your customer. Record partial payment, full payment, and deposit payments on orders.
Zoom in to the original invoice from the Receive payment window to check on the details of the sales.
Supporting documents and forms
After you record the sales transaction, you can print or email the documents (Quotation, Sales Order, Invoice) to the customers. The forms can be customised.
You can print the official receipts when they make a payment.
Forms Designer - create your own professional looking document.
Pick the pre-designed layout that comes with the software, then choose the design options to create quotation, delivery orders, invoices, statements and official receipts that reflect the style and professionalism of your business.
You can include your business logo on the forms - great when you want to send an electronic copy to your customer; you will save time, get immediate attention, and get paid faster.
There are more than 15 sales-related reports to help you analyse your business income. Reports are customisable, can be exported to PDF or emailed and exported as text file
Lists > Items
Creating Items in MYOB BusinessBasics
MYOB BusinessBasics allow you to maintain simple stock details that you sell, but it does not track the stock movement or balance.
Items ListYou can create an item in MYOB BusinessBasics to enable you to use the MYOB item Sales format to invoice your customers.An item can be:
- a physical stock unit that you buy
- a service (eg shipping, handling, training hours etc) that you want to include on item invoiiceScreenshot : Creating a new Item Profile in MYOB BusinessBasicsItem Details
You can create user definable fields to track brand, size or weight of the items you sell, and include a picture of the item.
Lists > Cards
Cards are your customer, supplier, employee or personal contact details.
Each card contains a billing address and five ship-to address, each with three phone numbers, a fax number, an email address and a web address.
Screenshot : Creating a new Customer
You can track the history of each customer; their buying patterns throughout the year, the last date of purchase, and amount outstanding.
Custom Lists & Fields
Group your customers, suppliers, employees and personal contacts using Custom Lists and Custom Fields. Easily identify a group of customers who bought a particular product or service. You can also filter sales report using the custom fields that you created.
MYOB BusinessBasics software brings all your basic sales and payment functions (quotation, delivery order, invoicing, issuing offciial receipts to customer, and writing cheques to supplier) together in one easy to use and easy to understand application.
It is especially designed for small business owners that are looking for a program that is simple to use even by those who do not know accounting terms.
MYOB BusinessBasics software is developed by the Australian software development company called MYOB Pte Ltd. It is customised for local use in some countries like Malaysia, Singapore, Hong Kong, USA and New Zealand.
If you find the MYOB BusinessBasics software to be 'out of the norm', it's because MYOB is not only an accounting software, it is also a business management software. This software will help you Manage Your Own Business. Smarter.
For more details, contact
phone : +6 016- 212 0476 (Elaine)