MYOB Premier


How To: Import Data Into MYOB Premier

Different professional accounting firms in Singapore can often form and rely on their own systematic schedules and techniques when providing bookkeeping and accounting services. So before beginning with essential tasks, it is highly recommended for users to consolidate data into one working software program and incorporate it into their company files. As an added improvement to general user experience, MYOB Premier allows users to import external data through a variety of formats and methods for further efficiency. Here are some ways users can do so:

All data that requires importing are prefered to be either tab-delimited file formats or comma-separated file formats. It is advisable to export relevant files into the above mentioned format from external programs. To begin importing, users can locate the File menu of MYOB Premier and select import data. This will enable different data type importing options which are chosen based on requirement. It is imperative to select a method of handling duplicate records as well, to minimise problems. Once accomplished, users will be prompted to select the relevant files and open them. They will then be required to match import fields by manually selecting and clicking the relevant fields in the columns. Importing can be performed once all relevant data fields have been matched. Should the process be unsuccessful, a log file will be generated for warnings and errors.

Some common importing procedures and sources that are often used with MYOB Premier includes:

Accounts Lists (From Accountants Office)

Perhaps one of the most straightforward import options supported by MYOB Premier, users can choose to import by obtaining a text file (.txt) and pick the AccountantLink option under file menu in their MYOB software. Selecting Receive from Accountants will lead them from the submenu to a list, where users can confirm the importing process and simply open up the relevant files.

QIF (Quicken) Transactions

MYOB Premier allows the importing of Quicken transactions as long as a QIF file containing relevant transactions have been created. Be sure to deselect category tracking under the preferences window of the MYOB software before beginning the import. Users are recommended to check for any matching accounts associated with the QIF file transactions, if there aren’t any matches, they will be prompted for an account selection. MYOB Premier requires users to match their Quicken account with one account in the software or one shall be created with a default name.

MYOB RetailManager/RetailBasics

These file types can be imported by locating the setup menu in MYOB Premier and choosing preferences. The MYOB RetailManager option can be found under the system tab, once selected, users can exit the software and open up the relevant file- essential transactions will automatically be imported. RetailBasics data however, has to be exported into text (.txt) files and saved in the location of the MYOB company file so that MYOB Premier can check for the text file. Users are advised to ensure that the same tax codes and rates are being used.

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.