With so many different versions of MYOB available it can be confusing trying to select which version is best suited for your businesses bookkeeping needs. The MYOB website can be overwhelming when trying to differentiate the main points of difference between the different versions.
We find that most of our SME clients are suited to one of the four main MYOB Products and have summarised the type of company which is best suited to each:
(SME with Turnover of < $1M and no employees)- MYOB Accounting This product has all the features required of a bookkeeping system for an SME that has no employees. Features of MYOB Accounting include:
Accounts Payable and Purchase Order management
Accounts Receivable and quotes management
Cashflow and Profit & Loss Reporting
Reporting by Profit Centre
(SME with turnover of <$2M and employees)- MYOB Accounting Plus v 16This product has all of the abovementioned features in addition to a powerful payroll module which handles all superannuation and PAYG obligations. The payroll module allows you enter employees details in the form of a timesheet which can be imported from excel or entered directly. It can also handle salary sacrifice arrangements that may have been agreed with the employee.
(SME with turnover of $2M+)- MYOB Premier v10MYOB Premier contains all of the abovementioned features in addition to multicurrency accounting and also allows multiple concurrent users. The multicurrency feature is a must for importers and exporters.
Advanced Bookkeeping with remote access
(SME with turnover of $2M+)- MYOB Enterprise v4MYOB Enterprise is ideal for businesses requiring remote access. Your computer network must be set up with Windows Terminal Services. This means all of your software is installed on a server and the server does all of the work, allowing you to get many more years use out of your old computers.
If you have any enquiries about which is the best level of software to handle your bookkeeping requirements, please contact us at Books Onsite and we’ll be happy to assist you in your decision.