Posts tagged ‘MYOB’

New Year’s resolution –“To learn MYOB”

I know that we all make New Year’s resolutions and then break them, but this year I think that there is one that you should not break and that is “to get some MYOB training”.

Whether you are running your own business, thinking of starting one up or just looking to upgrade your workforce skills, a MYOB training course is a must for this year.

With the Global Financial Crisis still snapping at our heels, we as a workforce cannot afford to sit idly by and just wait to see if disaster hits us.  We need to take a stand and make ourselves valuable employees and business owners now and for the future.

Why wouldn’t you want to upgrade your resume in these harder times with a certificate or two purporting your MYOB skills?

Just take a look at the employment pages and see that employers are demanding people with excellent MYOB skills.  We at EXECaid Training can help make this happen for you and you will reap the benefits of your MYOB training over and over again.

Now let’s not forget our small business owners who are time poor and cash strapped. As a small business owner myself, I know the demands made on you on a daily basis.  Imagine being able to cut the costs of your accountant and yet still be assured that you are providing accurate and up to date information regarding your business when required.  How would you like your weekends back? MYOB training can cut the time taken by you to record all your business transactions safely, securely and accurately.  If you use a contract bookkeeper to do the data entry into your MYOB, wouldn’t you like the security that comes with understanding how MYOB works? EXECaid training can provide this peace of mind for you with our MYOB courses.

Return to work Mums, this is the perfect opportunity for you. With all the job sharing and part time work available for those with MYOB skills you need to get onto your MYOB training now and make it happen with the help of EXECaid Training.

For those of you interested in contract bookkeeping, you will of course need MYOB training to the highest level.  Contract bookkeeping is one of the best ways to get started in your own business with hours to suit yourself, and the financial rewards can be great!

MYOB training in Melbourne can help do all this for you and more….

So remember your New Year’s Resolution “To Learn MYOB” and book a course today!

To Upgrade or not to upgrade my MYOB software….that is the question!

The most oblivious from the MYOB software provider is of course you must upgrade! That is how they make their money.

But really, why would you?

  • If you have staff and use the payroll functions - you should upgrade to allow you to have the latest tax rates.
  • This year the Australian Taxation Office made changes to the legislation on Superannuation and Salary Sacrifice which affects the automatic payment summaries provided by the software.
  • Shortcut features are usually added to each new upgrade and this makes the software easier and faster to use.
  • MYOB only supports the last three versions of the software.
  • Business out grows usefulness of earlier versions.
  • Accountants like to see the latest version and may be unable to open data from older versions.
  • Add-on Solutions to the latest versions may be upgraded.
  • MYOB Upgrades can open older version data files.
  • MYOB Upgrades are cheaper than purchasing full version software.

Do I need to upgrade my MYOB?

  • Not if you are happy with the information provided by your current version of MYOB.
  • Not if you have a small payroll and do not mind having to change the PAYG tax manually.
  • Not if you do not have any staff on salary sacrifice to superannuation.
  • Not if you do not mind having to hand write your payment summaries at the end of year.
  • Not if your add-on software solutions have not upgraded their software.
  • Not if your accountant can still access your data file.
  • Not if you do not require MYOB support from MYOB.
  • Not if you use a MYOB certified consultant who knows the earlier versions.
  • Not if your business has not outgrown the software usefulness.

In the end it comes down to personal preferences and business needs.  Bear in mind though, that it may cost you business more than money if you do not upgrade your MYOB Software.  If your hardware dies and you have lost your old disks and software keys you may end up having to purchase more than just a hard drive not to mention the time it takes to regain your footing and return everything to its original position.

Sometimes we have to spend a little to gain a lot in the cut throat business world and not keeping up to date with the latest products and services can cost you more. To get MYOB courses in Melbourne contact us.

Why would anyone want a personalised MYOB manual?

In the business world we quite often find that when a staff member decides to move on, management uses the skills of the person leaving to train the new member on arrival.  This training is usually provided over a very short time period as management do not want to have to pay two people to do the same job.

The person leaving may write a list of the jobs that they perform on a daily basis and give instruction whilst still performing their duties, but more often than not, they forget things that they ordinarily do on a daily basis because in general we perform them without having to think.  This can cause problems when the new member takes over and then is left floundering due to lack of information and instruction on how the company performs these tasks.

As a MYOB certified consultant I quite often find when called in to assess or train in a MYOB problem area that the person doing the job does it a certain way because that is the way the person before did it.  This may not necessarily be the most effective method due to initial person’s lack of understanding of MYOB or the loss of information on processes as it is passed from one staff member to another.

And what of the problem of a key staff member just up and leaving?

In this case there is no training for the new staff member, no written instructions and nowhere to turn.  Management may have a limited knowledge of where things are kept and in what order they should be done, but in general have left the day to day data entry into their MYOB software to the person who has just left.

This is not the time to think about the fact that you should have had a MYOB manual written for your very own situation. Personalised MYOB manuals with easy to follow step by step instructions and screen shots must be an invaluable asset to the company.  Imagine not being held to ransom by the staff member who is leaving and then stressing over whether or not the new person has the skills to keep the company flowing.

Time and again we see company management leaving these sorts of problems until too late.  This then makes the problem worse and more costly to rectify. I know of company management that upon getting reports that do not make sense to them asking the staff member who is putting in the data “why” and the standard reply is “I don’t know why, the machine says so”.

Imagine getting to the end of financial year and finding that all the data processed was really quite worthless to the accountant and needs to be done again and that with some simple instruction to follow all this could have been avoided.

With a personalised company MYOB manual all staff would be able to continue on without interruption and keep the continuity and stability of the accounting system that is already in place.

MYOB Training – Classroom vs Online

What a decision! How do you choose whether to enter the classroom physically or spiritually?

Some of us have not been to class of any kind since we left school behind those many moons ago. It can be a daunting experience heading back into the classroom for some and for some it’s just a matter of time constraint.

Ok, so down to the pros and cons!

MYOB classroom training is usually accessed by adults wanting further education and therefore there should be none of that old feeling of teacher/student hierarchy.  MYOB Instructors are just that, instructors or trainers, and it is their job to get you through the course without making you feel that you are back in that old style school where you were not an equal.  Trainees, as we call our students, are seen as people looking to further their education and therefore want to be learning.  This always makes everyone’s job easier.

MYOB training in a classroom atmosphere can be extremely rewarding and fun. You have others that you can share the experience with, learn about more than just MYOB, network with others in diverse business situations, and hear different scenarios from the other trainees on their business practices.  All of these things are extremely educational for your own business and all you had to do was attend a MYOB classroom training session.

MYOB classroom training is usually done in day blocks over a short period of time, for example 2 full days or 4 nights. So if time is of the essence, this should be one of your considerations.

Now, to MYOB Online training.

Online training can be a cheaper experience than classroom training, but not always so. There are no rooms, computers or trainers to be paid for and therefore the costs to the Training Company should be minimal.  So do your research before you commit to either scenario.

You can work at your own pace with online MYOB training, (which is fine if you are not like me and leave everything until the final deadline!) and at your own time to complete your course. So if you are a night owl there is no problem with accessing training at 2 o’clock in the morning although there could be problems accessing help at that time.

Work is submitted and assessed usually through an online portal, where you can also chat to others on the forum if help is needed. Getting visual/written help should be one of the keys to look for when you are assessing what type of course would suit yourself.

You do study with some anonymity which for some people is a bonus and others it’s a pitfall.

In summary, I suppose it all comes down to the trainee; give me 2 years to finish a course and no supervision and that’s how long I will take, or put me in a classroom and give me a timeframe and I’ll get the job done.

why should business owners understand MYOB?

In the very busy world of running your own business it seems that you are now also expected to be the bookkeeper as well.  Sometimes we have no choice especially when we first start out, but a wise man once said “In the business world, everyone is paid in two coins:  cash and experience.  Take the experience first; the cash will come later.  ~Harold Geneen”.

With this in mind, why would you choose not to at least understand MYOB, or any other software package you choose to keep track of your business financials? As a small business owner myself, with a young family, I understand the pressures of just getting through the day to day work load without having to extend myself to extra training. I had to learn to use the computer, the internet, email, so having to learn the MYOB software was just daunting. But I have seen the need, done the MYOB training, and am reaping the rewards through being able to see the trees before the forest.

Why start a business in the first place?

I could have quite easily gone out to work for someone else and at the end of the day, left my troubles behind and headed home with money in my pocket.

I wanted the challenge and I had something I knew I could sell. Is that enough though? No, all business owners need to take responsibility for their business and there are so many responsibilities that we need to undertake.  Customers, Suppliers, Employees, Taxation, GST, Government Legislation, Work cover, Licenses, Equipment, Leases, Loans and the list goes on.

Having said that, why do we always seem to leave the financials of running a business to last? It’s really the most important part and getting to understand the financial side should be a first priority.  So many people say to me I have an accountant to do that stuff, but they only see him once a year if lucky, or they have a bookkeeper to do all the data entry and trust that that person is doing the right thing. I have had clients over the years (who because they didn’t know how to use their own software) have lost their businesses due to misappropriated funds by the bookkeeper. Not that I am saying all bookkeepers are dodgy, by all means they can be a massive asset to the business, it’s just that you as the owner are taking the risk and therefore should be educated.

I say get some MYOB training, even if it’s just the basic understanding of being able to read the reports generated by the software. You will find that the time spent in learning your MYOB software will repay you many times over and your business will benefit from your training and skills.