| As a small business owner, you've got to keep | | | | that your bookkeeper will be able to use the |
| your accounting records in proper order. This isn't | | | | system effectively to maintain your accounting |
| just to facilitate your BAS and tax returns but | | | | records. MYOB is able to handle a host of |
| maintaining correct and accurate records helps | | | | accounting related requirements including preparing |
| you keep track of your expenses and debtors, | | | | your BAS, calculating GST, tracking your |
| your creditors and profits. When business | | | | payments and updating your expenses. It can |
| transactions grow, it will take days for you to | | | | adjust your inventory as you buy and sell goods |
| record all your data and process your accounts if | | | | so your stock records are always up to date and |
| you're doing everything manually. The sheer | | | | reliable. It can invoice your customers and |
| volume of work involved in keeping your | | | | construct a master debtor and creditor list with all |
| accounting records updated may overwhelm a | | | | the relevant contact information. |
| bookkeeper who records transactions manually on | | | | It links accounts which enable you to input the |
| Excel spreadsheets. In this case, the best way to | | | | transaction in one account and the system |
| save time and effort and keep your accounts up | | | | automatically does the double entry, saving you |
| to date is by using computerized accounting | | | | time and enhancing accuracy. MYOB can process |
| software. | | | | payments and prepare month end bank |
| Why Do You Need Accounting Software? | | | | reconciliation statements. By checking the |
| When you run a business, every minute of your | | | | sequence on invoices and purchase order |
| time is valuable. You've got to concentrate your | | | | numbers, this computerised accounting software |
| attention on those factors that will aid in growing | | | | can ensure that there are no duplicate customer |
| your business. This includes maintaining good | | | | invoices or purchase orders generated. This |
| customer relationships, sourcing for more clients | | | | avoids the possibility of overstating the revenue |
| and marketing your products or services. You | | | | and ordering too many goods, over stocking and |
| have to ensure your costs are low, your sales | | | | making duplicate payments to creditors. |
| are high and your business is profitable. | | | | MYOB even has payroll functions to manage your |
| When you're busy taking care of your business, | | | | entire payroll. This takes away the need for you |
| you won't be able to devote sufficient time to | | | | to spend countless hours writing up salary slips, |
| your accounts to ensure that your records are up | | | | determining PAYG and taking note of every |
| to date. Accounting records must be maintained | | | | employee's sick leave and holiday pay. Your |
| meticulously to produce optimum results. That's | | | | accounting software will be able to keep your |
| how you'll be able to know the status of your | | | | employee payroll records running smoothly and |
| accounts receivable and accounts payable to | | | | produce correct salary payment slips come |
| determine the level of your debtors and the | | | | payday. |
| extent of your creditors. You need to review | | | | How MYOB Enhances Your Business |
| your sales reports to know how much sales, | | | | If your primary customer suddenly asks you to |
| when and to whom your business has made. | | | | present them with a report detailing their business |
| You won't be able to do all of this on Excel | | | | with you over the last two years, you won't be |
| spreadsheets without wasting precious time. You | | | | able to do that efficiently without computerised |
| need an accounting program with advanced | | | | accounting software. MYOB has the facility to give |
| features to be able to process your data and | | | | you a breakdown of every transaction done with |
| produce your reports in a timely manner. As your | | | | your customer as far back as you need. It can |
| sales grow, you will need an excellent system to | | | | give you an ageing of your current debts and the |
| track every transaction. | | | | payment history of your customer. You can |
| Benefits of Computerised Accounting Software | | | | quickly meet your customer needs for historical |
| Keeping your accounts is made easier and more | | | | data and enhance the efficiency of your business |
| complete when you input data in a computerised | | | | relationship. |
| environment. The need for double entries, | | | | Your bankers may request financial information |
| reconciliations, monthly debtor and creditor ageing | | | | when they're reviewing your accounts or your |
| as well as the preparation of financial statements | | | | creditors' auditors may request for a confirmation |
| are all facilitated with the use of computerised | | | | of balances with you. With the advanced |
| accounting software. The system ensures that | | | | accounting technology of MYOB, your outsourced |
| your accounting records are both properly | | | | accounting services will readily be able to produce |
| maintained and updated. | | | | the required information in a professional format |
| MYOB, short for Mind Your Own Business, is the | | | | for your onward submission to bankers and |
| premier accounting software in Australia with | | | | external auditors. You can then field any queries |
| advanced features well suited to the bookkeeping | | | | from your bankers or external parties |
| requirements of a small sized business. It's | | | | competently. |
| comprehensive and user friendly interface ensures | | | | |