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What Is The Best Feature Of MYOB Advanced?

What Best Feature MYOB Advanced

MYOB Advanced is an efficient and powerful end-to-end business management tool that will make operational management easy and convenient for business owners and managers. It is a great solution for complex operations today and a great tool you can use in the future when you expand your enterprise.

MYOB Advanced is packed with practical features that are designed to help run a smoother operation and make communication with departments and companies within and outside the business. But the main feature that elevates MYOB Advanced is its ability to host multiple companies in one enterprise using its reporting and General Ledger. 

How It Works

The General Ledger structure of MYOB Advanced is very flexible and allows various transactional dimensions. Here’s how it works:

  • Transactions between departments, companies, and locations can be configured including reporting lines. If you have multiple companies working together under one group, this is a perfect tool for you. 
  • Profit & Loss and Balance Sheets can be consolidated through an easy process so there is one centralised reporting and access line for all.
  • Business owners and managers can manage several currencies, different countries, and several companies at the same time. 
  • You can configure a deferred revenue and expense schedule.
  • It gives business owners and managers a drill-down functionality where you can check accounting and financial reports back to their source transactions.
  • Consolidation of inter-departments and inter-company reports and requirements can be done right away. This means no need to access multiple tools for multiple companies. MYOB Advanced is a centralised one-stop-shop for managing your various businesses.

MYOB Advanced is suitable for fast-growing medium to large scale companies that are looking at expanding in the future. It meets all your daily operational requirements now and can anticipate your business needs in the future. 

What Best Feature MYOB Advanced 1

Other Benefits of MYOB Advanced

  • Because it is cloud-based, you can access vital information anytime, anywhere. This gives business owners the flexibility to travel, take meetings, and even go on holiday without losing touch with what is going on with the business. Today’s business professionals do not need to be confined to the office all day. MYOB Advanced gives you the ability to go anywhere and do anything without taking your business operations for granted.
  • With MYOB Advanced your data is secure as it backs up its data nightly and replicates it across multiple zones, so the risk of losing important business data is very low. System failure and glitches are not a problem since data is backed up multiple times. 
  • There are zero risks of a server attack because all information is stored in the cloud. No server hardware and virtual servers needed.
  • It helps improve your finances and makes your productivity monitoring much more efficient because you and your managers do not have to be physically present all the time to check on work progress. MYOB Advanced gives you the ability to multi-task and cross-check between departments anytime, anywhere.

MYOB Advanced can be used by companies across many industries, but it is most popularly used in the following sectors:

  • Retail like Groceries and Outlet Stores
  • Trade and Services
  • Wholesale
  • Information Technology
  • Manufacturing
  • Distribution
  • Professional Services
  • Construction
  • Agriculture
  • Entertainment
  • Engineering
  • Financial Services like Banks and Cooperatives
  • Non-Profit and many others

What Best Feature MYOB Advanced

When it comes to choosing the right ERP system for your business, don’t hurry your decision. Do your due diligence and talk to our MYOB Consultants Stratus Smart Software Solutions. We can help you decide and choose which MYOB system can help you maximise your time and profit.

Let us know what you need, your business setup and your future goals and this will help us HELP you get the right ERP solution that will help run a smoother operation and future-proof your business. 

We are accredited and experienced MYOB Australia/NZ Enterprise Partners with a dedicated team of business, accounting and IT Consultants who are passionate about helping Australian businesses grow. We are dedicated to MYOB, and we are dedicated to you.

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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