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Expense Tracking & Bill Management Features Of MYOB Advanced

Expense Tracking Bill Management MYOB Advanced

Are you interested in learning more about the expense tracking and bill management features of MYOB Advanced? Do you know you can automate expense tracking and bill management with the help of MYOB Advanced?

MYOB advanced is a feature-rich ERP solution that is widely used by businesses in Australia and New Zealand. Here is a list of some of the major features of this software that has made it the first choice of business owners in Australia and New Zealand.

1. Complete Automation Of Expense Tracking

Tracking expenses is often a big problem for businesses as it can be challenging trying to keep track of all the money you have spent. You need to keep an eye on your expenses for cash flow management and to get an idea of where you’re spending money.

With the help of MYOB Advanced, you can completely automate expense tracking through the easy to use expense tracker in the system. The system also allows you to get bills from suppliers such as Officeworks and Bunnings directly to the software. It helps in reducing a lot of paperwork and avoiding errors.

2. Automated Match With Bank Transactions

It also makes it easy for you to match every single expense and every bill with bank transactions. With this matching, the expense claims for your business can be directly submitted to the Australian Taxation Office right from your software window. There is no need for you to collate and submit the expense claims separately as everything can be done right from your browser window. Furthermore, this happens in real-time as MYOB Advanced is a totally cloud-based system.

Expense Tracking Bill Management MYOB Advanced

3. Capture Data With Your Phone

You can now keep track of your expenses with the help of the MYOB capture app. Just take photos of the receipts with your phone and send those photos directly to the software in order to keep track of your expenses automatically.

4. Billing Automation

The software also features advanced project billing that allows complete automation. It is also capable of automatically generating invoices as per set criteria. Automation of billing helps in reducing errors and improving cash flow for your business.

5. Flexible Billing

You get the flexibility to set up a number of rates tables so you can apply separate rates for specific projects or tasks. You can also pre-set mark-ups as per the service or labour type and these mark-ups can also be applied at the customer level.

You get a lot of options such as milestone billing, cost plus billing, fixed-price billing, contract-specific pricing as well as a time and materials billing option. The system also allows you to modify rates by account group, customer type, employee, project level and much more. You also have the flexibility of recognising the revenue based on either task completion or percentage of project completion.

6. Automated Reversal Of Unbilled Transactions

If a billing transaction has improperly applied charges, it can be reversed automatically and a new invoice can be regenerated for that particular transaction.

Expense Tracking Bill Management MYOB Advanced

7. Integration With Other Features Of The System

The expense tracking and bill management module also integrates flawlessly with other modules of the software such as cash flow management, taxes, and reports and budgets. In short, if you are using a variety of modules of MYOB Advanced for managing your business, everything works together seamlessly to give you a bird’s eye view of the financial standing of your business at any point in time.

Summary

These are some of the major expense tracking and bill management features of MYOB Advanced. This software has everything you need to manage your business. Whether you are a small business or a big company, you will find everything you need for tracking expenses in MYOB Advanced.

Also, it’s a cloud-based system which means you can enter data and generate reports from anywhere in the world by simply accessing the system through a web browser.

If you are looking to implement the MYOB Advanced Payroll feature, then please get in touch with us at Stratus Group. At Stratus Group, our MYOB consultants do not just provide you with the software, we also provide expert knowledge and support.

We will make sure that your MYOB Advanced software is implemented properly and will work with you directly at all times during the whole process to ensure that you get exactly what you need. We also provide after-implementation support and assistance.

Take your business to the next level. With the business world facing so many uncertainties, simplify and protect your processes. Upgrade your system to MYOB Advanced now and get ahead of the competition.

Call us today on 1300 499 000 or fill out our inquiry form and we will get back to you within 24 hours

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