How Is MYOB Premier Beneficial To Small Business?

MYOB Premier is an advanced software program available for PCs and Macs specifically designed for business management and record keeping. Its various functions allow for the maintenance of company accounts, sales, acquisitions, monitoring debtors, creditors and stock, payroll functions and help businesses meet BAS and GST obligations MYOB Premier is the most sophisticated of all the MYOB packages which start at the basic end with MYOB Business Basics, then MYOB Accounting, then MYOB Accounting Plus and culminating in the full package with MYOB Premier. If you have done any MYOB training or attended any MYOB courses, you will have learnt that MYOB Premier incorporates all the elements of its preceding software packages. All the MYOB software suites come with updates and new versions which help bring businesses up to date with new functions as well as new tax obligations. Like MYOB Accounting Plus, MYOB Premier has the central Command Centre which then flows into individual business units including Accounts List, Inventory, Payroll, Sales, Purchases and Banking. It also filters down to reporting functions, templates, to do lists, reminders and GST/BAS generation tools.

How MYOB Premier Differs

MYOB Premier differs to the other MYOB software suites in that you can:

  • undo reconciliations and related transactions easily
  • allow users to synchronise with Outlook or other major email programs to send invoices and remittance
  • have increased options to import and export data sets
  • creates efficiency by allowing users to pre-dated transactions for recurring records
  • generate detailed costing and quoting data for items and service jobs
  • generate more advance searches for transactions
  • retain historical data for up to 5 years – longer than other MYOB suites
  • generate more 200 advanced management reports and charts related to accounting including P&L, monthly sales, pricing/purchasing, accounts list, balance sheets and many other powerful reports
  • record transactions in foreign currencies and keep track of realised/unrealised exchange rate gains and losses

How It Benefits Your Business

To derive all the major benefits from your MYOB Premier program, it is recommended that you or your staff attend MYOB courses and received up to date accredited MYOB training. Beyond the obvious benefits of keeping all records in a central place, tax compliance and generating vital management reports, MYOB Premier further benefits a business in the following ways:

  • great for business with more than 20 employees with the powerful payroll functions
  • great for businesses that bill for their time with sophisticated costing tools allowing you to quote and cover all your costs (and make a profit from your work!)
  • great to keep track of jobs and tasks required to build products
  • fully customisable to different industries and businesses with advanced MYOB Add-On software packages available for hospitality, manufacturing and retail industries with many specialised functions like additional costing tools as well as payment system synchronization.
  • MYOB Premier is designed for multi users to access and update the information. It keeps track of all records and historical data so that you can track the changes and additions made by different users. Users can also be set access levels so that some employees can not access vital accounts information if they have no permission to do so
  • It is sophisticated enough to deal with foreign current transactions so perfect for businesses with import and export commerce functions as well as businesses with multi-departments.

The Australian Taxation Board in 2005 performed a scoping survey which identified that 88% of all Australian small businesses have embraced computerisation of accounting functions. MYOB Premier takes this computerisation to another level by increasing efficiency, powerful reporting and ease of use and multi-user access. It can become a vital business tool for all small businesses, including yours!


 

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