MYOB Business Basics
MYOB Business Basics is a simple accounting package for small companies. It offers a good level of features to control your finances. Accounts, banking, sales and invoicing are all covered in detail. However, it doesn’t support stock control or manage employees and their PAYE accounting.
MYOB BB is aimed at sole traders or small limited companies. If you run a company to sell your skills or service-based (not retail-based) products, design or photography perhaps, this package is aimed at you. A dedicated accounting package is better than a spreadsheet or database, because Business Basics provides control over the flow of information. It guides you from the initial quote to invoice and through to getting the cash. The program is powerful, but hides the double-entry book keeping, allowing the user to concentrate on the financial health of the company.
It’s process-based, guiding you through the setup, then into the daily routine. The program uses a set of business templates from which to create company accounts. There is a tutorial in the manual, which is well written and approachable. The emphasis is on modelling how your company works and the program encourages customization of its behaviour to match your needs. When you start to use the program, you must choose a migration date, from this point on you enter everything into the program, you can add historical information from the current financial year to the program.
There are four levels of detail for your accounts, so that you can hold the appropriate information on your car hire company versus your major clients. This lets you manage the complexity of your accounting records. It can produce the majority of the paperwork you need for a company, from invoices and cheques to profit-and-loss accounts, balance sheets and an aged debtors listing.
Contact management is one area of the program where the integration is poor: it’s only possible to import information into Business Basics; you can’t share contacts with other applications, so you’ll need to manage both sets. Finally, there’s no direct integration with Microsoft Office, but you can export information in comma-separated-value or tab-delimited files. Import of data from Quicken and online banking is supported.
If you need an accounting package and don’t need staff or retail support, then this is a good buy – but it needs time to set up and understand what’s required of you.