Accounting    MYOB Setup & Training

MYOB Setup & Training

MYOB (Mind Your Own Business) is a small business accounting software with tools and features to help businesses manage their financial transactions, invoicing, payroll, inventory, and more. Over 500,000 Australian small businesses use MYOB.

The key features of MYOB small business accounting software:

Invoicing and Billing: MYOB enables businesses to create professional invoices, customise templates, and send them to customers. It allows for easy tracking of payments and overdue invoices.

Expense Tracking: Businesses can record and track their expenses in MYOB. It offers features such as expense categorisation, expense claims, and bank reconciliation to help manage and reconcile business expenditures.

Financial Reporting: MYOB provides a range of financial reports, including profit and loss statements, balance sheets, cash flow statements, and more. These reports provide insights into the business's financial performance and help with decision-making.

Payroll Management: MYOB offers payroll functionality to handle employee wages, deductions, superannuation (retirement savings), and payroll tax calculations.

Inventory Management: MYOB includes features that allow businesses to track and manage their stock levels, sales, and purchase orders. It helps optimise inventory management and avoid stockouts or overstocking.

Time Billing: MYOB provides time billing capabilities for service-based businesses, enabling businesses to track billable hours and quickly generate invoices based on time worked.

GST and BAS Compliance: MYOB helps businesses comply with Goods and Services Tax (GST) regulations in Australia. It provides features to calculate, report, and lodge the Business Activity Statement (BAS) to the Australian Taxation Office (ATO).

Multi-Currency Support: MYOB supports multiple currencies, allowing businesses to invoice and manage transactions in different currencies if they engage in international trade.

Integration: MYOB integrates with over 500 third-party applications, including payment gateways, CRM systems, e-commerce platforms, and more. Integrations can streamline business processes and improve efficiency.

Success Tax Professionals can assist small businesses with MYOB setup, customisation, and training.