MYOB Essentials bookkeeping is the fast and easy way to manage your cash flow and ATO compliance requirements. Including time-saving features help take care of day to day bookwork. It is an online-based accounting software so all you need is a login and password. MYOB essentials is a newly formed version of MYOB LiveAccounts, MYOB management has updated the LiveAccounts background and navigation with a clean and modern style, so it’s easier to find the information you need. It’s faster and more instinctive with great new features.
So let’s get into discussing the Essentials Software Review!
Support for MYOB Essentials
MYOB Essentials has an online library of support notes and offer you unlimited phone and live chat support, 7 days a week. Support services can only help with general software enquiries, they do not provide tax advice. For more urgent matters you can contact MYOB Live Support on 1300 555 123. Extended eligibility is available to;
- MYOB cover and AccountRight subscriptions
- MYOB subscribers and Clients on Test drive support.
Since MYOB has updated their background navigation with a clean modern style, it is easy to follow how much cash flow you have, your outstanding invoices and your tax liabilities in real-time. So you have a clear picture of what needs your attention. You can get a more accurate view of your cash flow and make your tax obligations easier by storing your bills and supplier invoices securely in your accounts.
Payroll for essentials accounting allows for unlimited employees at present. This will change in the latter part of the year when payroll will be sold as an optional extra. Payroll is easy to use and follows a 3-step process. Just follow the prompts. MYOB essentials provide;
- a smart and speedy pay runs,
- free automatic tax tables.
Once the tax tables have been loaded, load payroll tax tables into your company file. Once tax tables have been loaded into your MYOB software you are then able to complete the rest of the payroll with easy setup assistance. Now you can freely navigate through this assistant and add whatever information you choose.
MYOB Essentials offer a 30 day trial for free, and then you can decide if you want to start using the software permanently. If so MYOB offers deals from $29 a month. There is a 90 day back guarantee with no lock in contracts so you can cancel anytime.
The purpose of reporting is to track and review how much money your business if making (or not). If someone else if supporting part of your business, financial reporting must be part of the essential contract between both parties. Using MYOB Essentials you can modify which data is shown in a report and you can create custom reports. There are a number of different reports that can be produced in MYOB with all the essentials. You can review all your reports so you don’t have to worry about losing anything!
MYOB Pay directly allows smartphone users to take payments which then update the software instantly, so no more waiting for payments. This is a pilot stage for Essentials but will be available later on in the year.
MYOB. E Accounting has no restrictions on the number of transactions, so it would be suitable for a small business that has grown beyond the micro stage. MYOB is not suitable for large businesses with sophisticated needs. We here at Darcy Bookkeeping suggest MYOB Essentials be used for smaller businesses that may have been using Excel or keeping an eye on a pile of invoices and expenses to manage their business.