Most business owners are aware of the need to use good quality book-keeping and accounting software. However, there are some huge benefits for considering MYOB as your software of choice.
Here are 7 good reasons you should use MYOB in your business:
1. Powerful Reporting
MYOB software is extremely flexible when it comes to generating reports. This allows you to receive specific information about your business quickly and easily. Aside from offering more than 60 regular reports, MYOB also allows you to customise any reports, to give you greater insight into your business, customers, stock, finances and more. Reports generated can also be ideal for predicting cash flow problems, or working out any potential impact on cash flow of raising or lowering your prices. Data can then be easily transferred to Word or Excel if you need to use it for correspondence or if you prefer other formats.
2. Reduce Accounting Fees
Many business owners commonly end up sending most of your business book work to your accountant at the end of every financial year in order to prepare their taxes. Yet, if all your information was already entered into your MYOB system, your accountant will end up spending far less time putting together all your information. Your accountant can simply produce a report through MYOB to generate all the information required, which saves you time and money overall.
3. Centralised Information
MYOB lets you centralise all your business information within one convenient software program. Yet, it’s still flexible enough to make that information available to other MYOB products, as well as to programs such as Microsoft Excel, Word, and even Outlook. This effectively means you can use MYOB across several customer contact points or multiple office locations and still have access to centralised data.
4. Customisable Security
You may have multiple staff members accessing your MYOB software throughout each day, but you might have certain information you don’t want some of them to access. MYOB does allow you to customise your security levels for each individual user or even different user groups. Each person can create their own unique login and then the system can be modified to allow or restrict access to areas and information that is relevant to their individual job roles.
5. Grows with Your Business
MYOB is able to grow with your business as it expands. Add more unique users to your system in minutes as you increase staff numbers. You can even upgrade some MYOB packages to include more comprehensive and more advanced software as your business needs it.
6. Protect Business Information
MYOB Connect offers an excellent way to securely store your business information online. This allows for off-site storage of sensitive information you don’t want to lose, but also gives you a secure place for daily backup information you want to keep. This means you can store your financial documents, GST returns, or any other important information in your own personalised online space.
7. MYOB is Australian
Because MYOB software is Australian, it’s designed specifically to understand the Australian accounting system and our own taxation requirements. Regular free software updates are conducted frequently to be sure each new tax legislation is up to date, so you never need to know all the details. Those same software updates also ensure that your system is always compatible with that of your accountant’s. MYOB is also able to help you prepare BAS returns quickly and easily.
