MYOB Specialist

MYOB Specialists

tick_mark20   Registered BAS Agents – Registration No. 80294000

tick_mark20   Registered ASIC Agents – Registration No. 37258

tick_mark20   ABBS are Certified Practising Bookkeepers

MYOB Software

MYOB was foundered in the early 1980’s by Christopher Lee and in the early 1990’s I purchased my first copy of MYOB and began to use it.  With the introduction of GST into Australia (MYOB ver. 10) and the confusion surrounding it, in the beginning, it took a few more years for MYOB to pull it all together which they did.   While I don’t agree with some of the paths that the company has taken over the years.   While there are other software options that present some quite cool and appealing features, of greater importance is the usability, flexibility, and range of features that help the bookkeeper comply with accounting standards and legislative requirements.  I believe MYOB it is still the best software for small to medium size business in Australia.

Questions on MYOB Software

What makes MYOB great for transitioning from one accounting system to another?

When a business transition’s from one accounting software system to another, an issue is there is rarely a complete set of financials available at that moment.  MYOB solves this problem by allowing the entry of the known balances to the general ledger accounts, and offsets the missing information to a historical balancing account until all of the opening data figures becomes available and can be entered.

What are the basic accounting information requirements to transition an accounting system to MYOB?

Commencing a new file can be an ideal option, particularly where a data file is in a critical state because it can be far cheaper to commence a new file than to try to find and correct extensive errors in an existing file.   This is particularly so when errors are old and were created in previous accounting periods.

  • The basic information would be the account balances for all bank accounts and credit cards, along with any outstanding cheques not yet presented to the bank for payment.
  • Petty Cash and undeposited funds
  • All unpaid accounts receivable (Debtor) invoices
  • All unpaid accounts payable (Creditor) invoices

All other information can be added as it comes to hand.

Data files can be imported directly from other accounting systems as well.

Contact Us Today

If you need help with your MYOB accounting system, or wish to change to a MYOB accounting system, then Contact us today for an obligation free consultation.

Should you wish to know more about ABBS – answers to questions we have been asked can be found on our Frequently Asked Questions page.  If you have a question that has not been answered there, please send it to us and we will add it to the list for the benefit of others.

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