5 Step Beginner Guide to MYOB Purchase Orders- What You Need to Know

MYOB purchase orders are important to get right as they contribute to data accuracy and workflow. If you are a beginner, there are certain functions you have to know in order to fully utilise and benefit from using MYOB. Here’s a 5 step beginner guide to MYOB purchase orders to get you started:

  1. Recording Purchase Orders

In order to start recording the purchase orders you have received, open up your Purchases command centre and look for the enter purchases option. Look for the top left corner and choose the arrow next to the field so that you can choose ORDER instead if it has not been chosen by default. You will then be prompted to fill in information so make sure to do that as concisely as you are able, according to the information you have currently at hand. Choose the supplier you need, the area it is shipped to, make sure the terms are correct and tweak the purchase number if you are required. Confirm data accuracy before clicking on record.  

  1. Credit Purchase Conversion

Convert your purchase order into credit purchases by looking for the Purchases Register in your MYOB software. Select the Orders tab so that you can view the purchase orders list you have created and choose the suppliers you want to display. Select the supplier you want and look for the specific purchase order you need from the supplier. After which, select it and choose the change to bill option so that it can be converted. You can then record according to what you need and make sure the information input is right.

  1. Accounts Payable Settlement

For accounts payable, look under the purchases command centre again and choose the Pay Bills option. This will allow you to record supplier payment- choose the account you want your payment to be recorded on. If it is a direct payment from your bank account (payment through credit cards or cheques), you can choose the pay from account option. If you want your payment to be grouped with a group of electronic payments, look for the Prepare electronic payment option under the Banking Command centre instead.

  1. Create Supplier Note

When it comes to purchase returns, you will first have to create a supplier note/debit note. To begin doing so, look for your Purchases Command Centre on your MYOB software. Choose enter purchases and look for the BILL field option. Make sure to enter the details of your purchase return and indicate negative amounts under the Bill section of the window that pops up for you. Once you are done with it, check to make sure everything is in order and record it.

  1. Apply Supplier Note

After creating your purchase return supplier note, you will now have to apply it to a purchase invoice that is still outstanding.  Look under the Purchases Command Centre and choose Purchases Register. Choose the tab that states returns and debits so that you can access your supplier note and choose the relevant supplier. You can then be able to locate the supplier you want to use and look for the PO# that you want to apply. Choose it and click apply to purchase so that you can apply it. You will then have to finalise it by choosing record.

These are some of the most crucial things to know about MYOB purchase orders. Make sure to practise and get acquainted with the procedures so that you can easily maintain data accuracy in your everyday projects!

5 Benefits Of Purchasing Through MYOB Resellers

The purchase of MYOB softwares through MYOB resellers have become a common practise today, for good reason too. If you are considering purchasing MYOB softwares for yourself, here are 5 reasons why you should consider purchasing it from an officially recognised MYOB reseller instead:

  1. Access

Depending on the region your corporation resides in, it can sometimes be a challenge when you require access to certain MYOB products or software. By buying through resellers, you can resolve the problem of access and enjoy an ease of convenience when procuring important resources. You can also gain advice and recommendations in real time when communicating with MYOB resellers and enjoy fast response rates without timezones getting in the way.

  1. Product Demonstration

It can be awfully daunting when you are unable to visualise how the MYOB software works and do not have the luxury of time to experiment for yourself though the free trial versions. By making arrangements with your nearest MYOB reseller, you can head down to their physical location for product demonstrations conducted by an experienced reseller so that you can better gauge how user friendly the MYOB software of your choice could be. You can also take the opportunity to scout out MYOB softwares that are better fitting when it comes to your requirements.

  1. Expenses

When purchasing MYOB softwares for corporate purposes, you may find yourself shelling out some big amounts to do so. When you buy through MYOB resellers, they could either offer discounts to encourage SMEs in understanding and using MYOB software or provide you advice on how you can actually save up. For example, the claiming of PIC for meeting certain criterias and other important tips that you can benefit from.

  1. Network

MYOB resellers are usually connected to a wide variety of like-minded individuals like certified MYOB partners, MYOB training agencies, MYOB professional networking groups and more. With their advice and help, you can begin touching bases with other professionals who are also making use of MYOB for assistance.

  1. Training

Some MYOB Resellers also go a step and beyond by not only providing MYOB softwares for sale, but by also conducting MYOB training courses that are catered for professionals to attend. If you know an MYOB reseller, chances are that they are also certified MYOB specialists that can arrange and conduct training sessions with you, or that they know and are capable of recommending training course sources to you. This can greatly help since certain training agencies can provide discounts if you are liaising with them through a certified MYOB reseller, and you won’t have to worry about finding a reputable training agency by yourself without knowing what to expect.

These are just some of the benefits purchasing MYOB softwares from MYOB resellers can bring. Depending on your region and depending on the MYOB reseller, there can be additional advantages that are granted to customers who choose to buy from them so make sure to enquire before you confirm your MYOB purchase.

5 MYOB Sales Features To Try Out

MYOB softwares come equipped with various features and functions that greatly benefit their users- especially in terms of data and keeping track of essential areas like inventory, invoices and more. But in order to fully benefit from the software, there are actually 5 MYOB sales features that everyone is highly recommended to try out:

  1. Customer Cards

Creating customer cards is one of the most useful and standard of all MYOB sales features that are available. Look for the card file command centre and choose the Cards list to open up a window. Choose new and choose your customer from your card type list, before you go ahead with designating the card either as an individual or corporation. Type in customer names and press TAB so that additional fields are enabled- you can then enter identification codes in card ID fields and other relevant information. Set up your selling details, tax information, credit terms and payment details before closing the window.

  1. Changing quotes

To change quotes to either orders or invoices, click on the sales register option under the sales command center and choose the quotes tab. You can then choose to change to order or change to invoice to pull up a sales window and make relevant changes. Once you have completed those changes, choose record so that the new order/invoice will be created.

  1. Receiving Payments

For payments against invoices, one of the most popular MYOB sales features to rely on is the receive payments window. Record customer payments using the receive payments window for one or more outstanding invoices or enter customer payment details through the receive money window instead. If you have several payments from customers but don’t wish to record detailed information, then you can make use of the Bank Register window instead.

  1. Reversing Sales

In order to reverse the sales, your transaction should be unchangeable. The “transaction cannot be changed, only reversed” option must be selected- you can do so in the preferences window, right in the security tab.  Look for the edit menu and choose the reverse sale option once you have made the relevant changes. A credit note should appear inside your sales window- your invoice amount should be negative. Choose record reversal and another customer credit should appear for you.

  1. Writing Off Bad Debts

Locate the enter sales option in the Sales command centre to open up the Sales window and enter the details of your customer. Choose layout and make the selection for Miscellaneous. You will then be able to locate the description field and look for the type of transaction description. Under the account number field, choose or manually type the bad debts account. Type bad debt amounts as negative digits and input required tax codes before choosing record. You can then apply credit against the original invoice by going to the settle returns and credits window.
Experiment and familiarise yourself with these 5 MYOB sales features today and watch how much of a difference it can make to your daily routines. The more you practise using these sales features, the better and more convenient data tracking can be.

5 MYOB Support Sources For Every MYOB Beginner

It is not uncommon that new MYOB beginners find themselves in need of extra help upon purchasing their MYOB software. For all it’s usefulness and capabilities, MYOB can seem terribly daunting at first glance. But with it’s user friendly interface, users will be able to facilitate themselves well enough by experimenting with it’s layout. If you are a new beginner, here are some additional MYOB support sources that you can fall back on whenever necessary:

  1. MYOB Resellers

For MYOB beginners who are in need of MYOB products and running on a limited budget, MYOB resellers are the greatest source of support and assistance you can get. Not only are these people able to provide you with the software and resources at affordable rates, you can also take the opportunity to ask them for trial versions and advice.

  1. MYOB Training

One of the best MYOB support sources would be MYOB training courses that are available in the user’s area. A good recommendation would be learning level based MYOB training courses where step by step hands on practices are included. Beginners can choose to attend MYOB training courses conducted by certified MYOB experts to better understand not only the functions but also how to apply MYOB features to real world scenarios.

  1. MYOB Services

Since every software has it’s vulnerabilities in terms of bugs and other areas that require troubleshooting, the official MYOB development team has ensured that no one will be left to flounder in events of problems. Users can seek support through their technical team by calling and emailing to identify and troubleshoot issues, or even seek on site support if they require so! Depending on regions and countries, MYOB support sources vary but generally tend to have fast responding rates.

  1. MYOB Blogs/Forums

For MYOB beginners who need additional help, MYOB blogs and forums can be some of the most reliable MYOB support sources to seek out. Not only will beginners begin to expand their social circles as they network with other like-minded MYOB professionals, they can also get advice and additional practice materials without having to overspend. In addition, certain MYOB training agencies also regularly produce additional MYOB tutorials for beginners to try out in their own spare time even after they have attended MYOB training courses.

  1. Upgrading or Updating

It can be difficult to choose which MYOB software to upgrade to when the time comes for it, and not knowing what to pick can be awfully daunting. Thankfully enough, MYOB’s official site allows MYOB beginners to make use of their email address or serial number and log into MYOB online products/services. MYOB will then provide MYOB beginners with tailored recommendations to pick from.

MYOB Essentials VS MYOB Premier

It’s no debate when it comes to the usefulness MYOB softwares equip it’s users with. However, the question of which exactly the most beneficial MYOB software is remains still with no definite answers. MYOB Essentials or MYOB Premier- two of the most common MYOB softwares used by corporate sectors of today. Which is truly the most beneficial out of these options? Find out more here:

MYOB Essentials (Unlimited Payroll)

When it comes to price, MYOB Essentials is generally a more affordable option compared to other MYOB software options. If you are just starting out as an MYOB beginner with a limited budget, MYOB Essentials are a more feasible option since you get a wide range of software capabilities at an affordable price. MYOB Essentials provides it’s users with crucial features and functions that are required to manage and run things smoothly, including working online, calculating/tracking GST, managing invoices or quotes, managing expenses, tracking payments, keeping track of both suppliers and customers, setting up bank feeds, calculating payroll accurately, accepting timesheets, managing inventory and more!

In addition, MYOB Essentials is easy to set up by the user and grants ease of use since they guarantee tax compliance. MYOB beginners can also find a plethora of MYOB training courses that rely on MYOB Essentials and seek help from online forums as well as video tutorials when in need. MYOB Essentials are also readily available through MYOB resellers and corporations can sometimes make use of this to save up on their expenditure.

MYOB AccountRight Premier

MYOB AccountRight Premier can be considered a step up above MYOB Essentials. MYOB AccountRight provides the same software capabilities as MYOB Essentials, with the addition of more important and convenient functions like purchase order management, working BOTH online and offline with local back ups, multiple account access, job tracking (profit and loss), Inventory management by levels and more! If you are looking for MYOB upgrades, MYOB AccountRight Premier should definitely be considered.

MYOB users may have to shell out a little more compared to MYOB Essentials but the price remains reasonable when compared to the amount of use and services they enable users with. In addition, MYOB premier is also another common MYOB software version used in MYOB training courses.

These are just some of the comparisons between MYOB essentials and MYOB premier. For a better hands on experience to facilitate your decision making, you can actually opt to go a step further by signing up for free trial versions. Base your decisions on how well you are able to use the software and how well it helps manage your data requirements based on a duration of time.

5 Criteria To Pick The Right MYOB AccountRight Software

Choosing the right MYOB software for your corporation can potentially bring about a substantial amount of benefits. Not only will you be able to save time, reduce the amount of errors in accounting procedures, but you will also be able to better plan the next most beneficial step for company growth. If you are looking into MYOB AccountRight softwares, then here are 5 criterias that the right MYOB AccountRight software should meet:

1. Multiple Account Support

Depending on what is required, you may sometimes require to use the MYOB software on multiple accounts and different workstations. You need the software to be able to seamlessly, without any worry of unreliable information. This is particularly important for corporations since it enables different users to work with data without compromising results, so if you are a larger corporation in need of multiple accounts, then you should consider MYOB softwares like MYOB AccountRight Premier.

2. Tax Compliance

The right MYOB AccountRight software for you should be able to keep up to date and allow you to easily meet tax obligations without much fuss. Whether it’s in the form of updates, your software should build up user confidence and make sure that tax changes are no hurdle for you. This way, you will be able to confidently handle payroll, time sheets., taxes and other important aspects.

3. Accessibility

Accessibility is perhaps one of the most crucial criterias that accounting softwares should meet. With the need to access and handle information even on the go, your MYOB AccountRight software should be able to grant you the flexibility or working both online and offline. You should be able to access your MYOB accounts anywhere, collaborate with others in your team easily, make backups to your PC whenever necessary, and grant external parties like accountants live access.

4. Report customisation

A clear insight to business progress is the key criteria to all MYOB softwares. The right MYOB AccountRight software should enable users to fulfill that by being able to create different comprehensive reports based on category like sales, accounts, banking and more. Make sure you know what kind of reports you are in need of handling and choose the MYOB softwares that are capable of assisting you in doing so. One good way to check would be if the software has comprehensive report formats for easy customisation.

5. Invoices

The management of invoices (billing, supplier and customer) should also be a feature and function that the MYOB softwares provide. The right MYOB AccountRight software should be able to make record keeping simplified for tax purposes, reduce overall material spent, reduce paper filing and ensure that users have an accurate idea of how the projected financial flow is.

These are just 5 of the criterias that the right MYOB AccountRight software should meet. Depending on your corporation’s requirements, as well as any other special requirements that you have, the choice for MYOB softwares would differ. Using these 5 criterias as a basic guide, you can then proceed to make better decisions when it comes to the MYOB softwares you pick.

myob-time-billing-features

How to master MYOB Time Billing Features

Time billing is a good billing system that usually involves the recording of time and use of rates to calculate a fee to charge for services. The time billing system is usually used by professionals providing services, like lawyers, accountants, designers and mechanics. To accommodate this requirement, MYOB has introduced time billing features that everyone can use. If you are new to these features, here’s what to know:

What you can do

MYOB time billing allows you to specify the billing rates you want based on activities, hours, and customers. You can delegate which activities are chargeable and which are non-chargeable, enter them individually or grouped in slips, generate invoices and more! Time billing reports are easily customisable- you can filter them to exactly how much information you need in order to see how time is spent and measure profitability.

Set Up Preferences

Before your can get started with time billing, you need to set up at least 4 preferences- time billing units, your descriptions, general preferences and time sheets. To set them up, access the Setup menu on your MYOB software and choose preferences to open up the option window. Look for the system tab and choose the last four preferences in the window (these are the ones that apply to time billing).

Set Up Rates

Set up your billing rates so that they can automatically appear whenever you need to make activity slips. You can set up billing rates for multiple different people like customers, employees, suppliers or just the activities itself. To set up billing rates for activities, look under the Activity information option window.

For customer billing rates, look for the card information of the customer and choose the selling details tab. You will be able to locate the customer billing rate section and manually type in hourly billing rates for your customers. Once done, choose OK.

For suppliers or employees, you can do so by choosing to bill activities at different rates instead and also track costs of said activity. Look for the card information for your suppliers and choose buying details. For employees, choose payroll details and locate time billing. Once you have keyed in the relevant information, click OK to apply the changes.

Create Activity/Activity Slips

In MYOB, activities generally refer to the services/tasks that are provided by your corporation. Activities are used to track costs in time billing systems and defined by hourly/non-hourly as well as chargeable/non-chargeable. You can create activities in MYOB by looking for your Time billing command center and choosing the Activities list to open up the activities list option window. Choose new and proceed to create by filling in the relevant information- Activity ID, name, description, type and status. You can then choose the billing rates you want applied for the activity.

To create activity slips (useful for payroll), you can do so by locating the time billing command center and choosing the enter activity slips option. Click on the activity slip tab and enter the activity details as required. For hourly based payments, make sure to pick the include hours option under Employee’s pay. Make sure that the hourly wage is entered in the payroll category area. Once you are sure of everything, choose record.

Create Time Billing Invoices

MYOB also allows users to prepare time billing invoices to bill to customers. Locate the time billing command center once again and choose prepare time billing invoice so that the dialog window would show up. Find and choose the customer you want to create the invoice for and choose OK so that the options window opens with a list of the activity slips for the customer. If there are no further adjustments, choose prepare invoice and your invoice should be generated. If satisfied, simply choose record.

Bonus tip: You can choose to bill for both activities and items using a single invoice as long as you choose the include items option under the time billing invoices section in your preference window.

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