I get asked a lot about backing up MYOB files, when, where & how.  I must say that I always tell my clients (and their staff) or students that it is critical that you backup every time you enter data.

Why, you ask?

Because MYOB like any other data, software or hardware can be prone to failure.  Now it may not be the MYOB software itself, but a virus or other outside influence, such as power outage, could attach itself to the MYOB data and corrupt it.

Many people do not service their PC’s like they should (you wouldn’t treat your car like that) and any hardware failure could make it impossible to retrieve the data.  Where are you then?, stuck on the highway with no RACV, because you did not keep an up to date backup copy of your MYOB data. This could be extremely time consuming and expensive with re-entering all that data over again!

If you do make backup copies of your data, do not leave them on your PC or in the same place as your PC.

Why you ask?

Because, if they are on your PC and it is stolen, not only is your PC gone but so is your data. If your Office or Home has a fire, it also burns up your back copies, so you must take your backups off site and away from your PC for storage.

Critical Backups.

You should also take end of financial year and end of payroll year MYOB data backups separately. This is because MYOB discards some information from the previous year’s work so that the data file does not become too large.

Mark these backup data files accordingly in case for any reason you need to restore the data to look at discarded information such as payroll data.

These ends of year data backups should definitely be kept securely as they are your financial records for that year and as such should be kept for a minimum of five to seven years under current law.

Business owners by law have to take responsibility for the tax implications of their business.  One way that can help the business owner is to have at least an understanding of the program running their business.  We all know that being uninformed is not an acceptable excuse in the business world.

MYOB software is an easy to use and navigate program once you have learned the basics.

MYOB training for beginners is a great place to start.  In the MYOB short course for beginners you will learn how to enter simple transactions, the importance of reconciliations and manoeuvring through the required reports for the day to day running of your business.

Double entry bookkeeping used to be a scary notion, but with MYOB training we can show you that one transaction can do the job, which accounts if affects and why. Someone famous once said “education can set you free”, and with an MYOB short course for beginners you will be well on your way.

A MYOB short course for beginners will take only a small amount of time away from your core business but will enhance your knowledge to allow you the scope to build a better business management style.

Even if you do not have the time to enter the transactions yourself, you should as a responsible business owner, at least be able to understand and check the reports, after all you are the one signing off on the documents to the tax office that all is true and correct.

Many business owners use a bookkeeper to control the day to day financial data entry of their business, but how do you know that the bookkeeper is doing it correctly or accurately? With your own MYOB training you will at least be able to check from time to time and satisfy yourself that the job is being done properly.

MYOB short courses for beginners are designed for the true beginner who has absolutely no idea of where to start and they are fun!

Decided you need to update your skills? Looking to enrol in a MYOB course? Before beginning your research, consider the following five elements to ensure you choose the MYOB courses that is right for you.

Element 1 - The “Cost” Factor

Prices usually play a large role in our decision making. Avoid automatically choosing a course because it has the cheapest price, you may come to realise that you only get what you pay for! But, do not go the other way and choose the course that is most expensive, assuming that if you’re paying top dollar you will receive top MYOB training. It is important to do a lot of research when it comes to cost - find out what is offered for the price.

Element 2 - The “Time” factor

It is vital that you consider the duration of the course during your research. Is taking three or four days out of your busy week really viable? Look for providers who are flexible, who may offer weekend or night courses as well as day courses, and who offer course hours that still allow you to pick up the kids from school! Also, try to avoid “learn-it-in-a-day” courses. These usually involve a lot of “cramming” and you will often find that you were unable to retain majority of the information, and frequently include “take home work”.

Element 3 - The “Content” Factor

Get the specifics on the content covered in the course. This will enable you to decide if the course will meet your needs. Compare course content between providers - this will also assist you to determine appropriate prices and duration. Also establish the teaching methods to ensure that they coincide with your preferred learning style.

Element 4 - The “Venue” Factor

Where possible, make an effort to go and view the venue where the course is conducted. It is important that you feel comfortable in order to get the most out of your MYOB training. Try to choose a venue with limited seats, ensuring that you gain maximum learning opportunity and have undemanding access to one-on-one assistance from the trainer.

Element 5 - The “Inclusions” Factor

Do you get a certificate upon completion? How about a manual, a test drives CD or any on-going support? Things that will be of use to you after the completion of the course are good inclusions. “Lunch provided on the day” will generally have been added to the course cost. A certificate is something you should make sure you receive without a doubt - this is the proof of the skill you have gained and your ticket to advancing in the workplace. Training manuals or on-going support ensure that you have somewhere to turn if you hit a MYOB snag in the future. MYOB test drive CD’s allow you to practice and revise what you have learnt at your own leisure.

Remember to assess your needs, research and compare providers and think about these five elements before deciding whether a MYOB course is right for you.

MYOB is a software program created for the purpose of business management. It is various features allow for the management of company accounts, purchases and sales, the monitoring of debtors, creditors and inventory, payroll and the fulfillment of BAS and GST obligations.

But which software package will work best for you?

MYOB BusinessBasics & FirstEdge

Very basic accounting systems, both BusinessBasics (PC) and FirstEdge (Mac) are ideally suited for small service businesses with no employees. These software packages have limited features, but are very simple and easy to use. If all you need to do is invoice your customers, enter your bills and reconcile the bank then this may well be the choice for you.

MYOB Accounting

MYOB accounting is the next step up from BusinessBasics and FirstEdge. This software caters for pretty much everything a small business needs. Its updated features include the inventory function (allowing manufactures, retailers and wholesalers to jump aboard), more advanced reporting, access to M-Powered services (electronic payments) and links to Microsoft Word and Excel.

MYOB Accounting Plus

MYOB Accounting Plus has everything that MYOB Accounting has, but also includes the Payroll and Time Billing features. Having access to the payroll feature is worthwhile for business with 5 or more employees, simply because it saves so much time. The Time Billing feature allows you to keep track of time taken to complete jobs and activities, including monitoring costs and charges so you can accurately invoice your customers and ensure you get paid properly for your time.

MYOB Premier and MYOB AccountEdge

MYOB Premier (PC) and AccountEdge (Mac) include all the features you see in BusinessBasics, FirstEdge, Accounting and AccountingPlus but with one big difference - they are multi-user, meaning that more than one person can log onto Premier or AccountEdge at the same time, allowing employees to work concurrently on the accounts. The inventory features within Premier and FirstEdge are more advanced, allowing for multiple pricing and pictures of stock items. They also include multi-currency reporting making this choice ideal for importers and exporters.