In previous versions, users were unable to match the dates on the bank’s statement when trying to reconcile a bank account. This made it difficult to compare statements from the bank with MYOB-produced reports. This has been fixed now, so users can specify start and close dates to match the statement. This ability to specify both a beginning- and an ending- date range gives greater flexibility when printing reports and statements. Another failing corrected by version 7.5 was the inability to personalize more than one kind of form, such as an invoice, shipping label, or a purchase order. This was irritating when you needed a service invoice one moment and an itemized invoice the next. It is now possible to customize as many as you want. MYOB also introduces the ability to search by supplier invoice or customer-purchase order number, the ability to have multiple customized forms and new VAT reports. Many accountants use different accounting software, and so the introduction of a means of sending data to the company’s accountant is welcome. A new feature, AccountantLink, lets users export data to CaseWare, a popular program with many accountants. Reports can also now be viewed through browsers on the Web with the ability to save reports in HTML. On the security side, version 7.5 brings two new features: a handy AutoSave feature, that saves after a specified time has passed; and a data-verification feature, that can catch minor inconsistencies in your company’s data file, before they cause serious problems. As one of the two main accountancy programs on the Mac – Quicken being the other – AppleScript support is long overdue. The ability to exchange data with other applications brings extra power to the analysis of figures, and exporting MYOB data to a statistical application like DataDesk can produce a reliable picture of a company’s position. One of the main failings of MYOB is its inability to handle other currencies, since all foreign transactions must be converted to sterling before being entered. Also, the documentation is a little shabby; the manuals appear to be Windows oriented and haven’t been updated since version 6, although an addendum for version 7.5 is enclosed. Finally, MYOB still only offers a multi-user version for the Windows version.
The program remains as rugged as a program gets – it’s the only application I’ve never had a crash with – and it remains as simple to use as ever. MYOB fits with small and medium size businesses very well and this upgrade will particularly suit businesses with a high level of transactions. Otherwise wait for the multi-currency version later this year.