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What Is Included With MYOB Advanced?

What Included With MYOB Advanced

Many businesses are still using outdated accounting software that is limited in functionality. MYOB Advanced offers a complete suite of powerful business management tools to help you grow your small business and stay on top of finances. If you’d like to learn more about MYOB Advanced and what is included in it, feel free to continue exploring this topic further below. 

What Is MYOB Advanced And What Is Included In It?

MYOB Advanced, which stands for “Mind Your Own Business,” is a suite of financial management tools that will help you develop your business and plan for the future. It has been designed by accountants who understand how complicated accounting can be but also know how important it is in running any successful company. 

The package includes everything from keeping track of where every cent goes to automatically reconciling transactions so not even an error gets past unnoticed–not bad right? With MYOB Advanced there’s nothing stopping you on your way up!

MYOB is the leading accounting software in Australia used to create budgets and manage day-to-day operations. It is also the leading accounting software because of the numerous features it offers. Some of these important features that are included in MYOB Advanced are the following:

  • Bookkeeping
  • Sales tax calculators
  • Invoicing system
  • Inventory reports
  • Payroll processing 
  • Account reconciliation
  • Corporate tax compliance options
  • Financial statements with graphs and charts
  • Ability to manage multiple companies on one screen
  • Cash flow analysis reports

…and many more! The best part? MYOB Advanced operates in the cloud, allowing you to access your financial data and account settings anywhere anytime!

What Included With MYOB Advanced

How Does MYOB Advanced Work?

How does MYOB Advanced work? Put simply: It gives small to medium-sized businesses everything they need in one place. From inventory control tools that allow users quick entry into new product lines with pre-set pricing ratios; financial reports like bank reconciliations so managers can see how their cash flow has been affected by sales growth or declined because of downturns in demand; expense forms for tracking company spending – MYOB Advanced really makes this job easier than ever before.

MYOB Advanced lets users manage every aspect of running their small business without having to do anything on paper – or waste time trying different programs just because they don’t know which will work best. In relation to this, there are a number of ways MYOB Advanced can help you to be more successful. 

For example, you could set up automated and recurring transactions, which will save time on formatting your invoices or statements for customers every month. With the ability to use conditional account codes and mass edit accounts with bulk edits in seconds, this software has everything you need!

What Are The Differences Between MYOB Exo And MYOB Advanced?

The basic difference between the two is that while MYOB Exo is a small business management app that can help you track your personal and professional expenses, the Advanced version has more features, such as the ability to create invoices for clients or customers, customising company information with logo placement on documents like receipts and statement of account balances from credit card companies.

Another key difference is that EXO does not have a report module, while Advanced has it built-in. This means you can export reports without the use of an external application to do so like Excel or Word, for example. This also allows for more customisation options with what data goes into your reports (Expert). You will find other subtle yet key features as well such as different fonts on graphs and charts, better access date ranges when navigating within modules using tabs at the top instead of drop-down menus etc.

In short, MYOB Exo and MYOB Advanced are two different versions of the same accounting software. The differences between them include a lower cost, fewer features such as no importing or exporting data from one account to another with this version, and more limited support for financial transactions in other countries than what is available on the Advanced edition.

What Included With MYOB Advanced

Why Should I Choose MYOB Advanced?

One of the many reasons why MYOB Advanced is a smarter choice than their basic package, Exo, is because it includes an accounting system that has more features. For example, without MYOB advanced, you will be unable to include GST on your payroll and wage payments whereas, with the Advanced version, this can easily be done. 

Furthermore, one-off costs such as insurance premiums are not deductible from business income for businesses using Excel which means they do not get any tax deductions; however MYOB Advanced allows these to also have input into the calculation automatically so all bases are covered!

The MYOB Advanced range also has a number of unique features that are difficult to find in other accounting systems. For example, the first thing you’ll notice about the MYOB Advanced software is its intuitive interface, which makes it easy for anyone unfamiliar with accounting packages to use effectively and quickly. The layout includes simplified menus and buttons on one side, so all actions can be done by using just your mouse or keyboard’s arrow keys – no complicated commands needed!

So, why should you choose MYOB Advanced? Simple: it’s the most advanced accounting tool on the market, with a broad range of features and unparalleled reliability. And these days, your business deserves nothing less!

What Should I Consider Before Buying MYOB Advanced?

Before you buy MYOB Advanced, make sure to consider the following factors:

  • Compatibility with your operating system and computer hardware.
  • The level of knowledge it will take for each person in your organisation to use this software effectively (i.e., some people may need more training than others).
  • How much time it takes before the initial set-up is completed on both a personal laptop or desktop as well as company servers.
  • Consider what features are right for your business.
  • Upgradeability of the software.

Final Thoughts

MYOB Advanced is a great upgrade to the basic version of the MYOB software package because it provides more features and functionality, as well as access to knowledgeable customer service. If you are looking for an accounting program that will work with your business no matter what stage it’s in, check out MYOB Advanced today! 

If you are looking to implement MYOB Advanced in your business, 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 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.

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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