New MYOB Essentials addresses 8 necessities of online accounting

MYOB Essentials, formerly known as MYOB LiveAccounts, has been released and focuses on three pillars: easy to use, on-the-go and better value for users.

Thanks to extensive testing of the user interface and responding to feedback during the test phase, MYOB Essentials not only covers all the essentials a small business needs, but does it at an extremely affordable price with no hidden costs and no lock-in contracts. It is also web-based, which means you can access it from any device with an Internet connection and browser.

The MYOB Essentials range caters to a wide range of user types, from sole traders to business owners with employees, and covers the following eight necessities of online accounting: 

1. A snapshot of your business. The homepage shows the dashboard which is designed to be simple, clean and captures your business’ financial standing.
2. Sales, including quotes and invoices. Create quotes, turn them into invoices and easily stay on top of your GST and BAS obligations.
3. Expenses. Keep track of all the things you have to pay such as rent and supplier bills, and most importantly when they are due.
4. Bank feeds allow you to connect your bank account to MYOB Essentials. Every bank transaction is then synced into MYOB Essentials automatically. The transactions are matched to your sales, expense or any rules that you set.
5. Contacts. Keep track of all your business contacts in one place, especially those that owe you money.
6. Payroll. If you hire people, you can maintain your payroll function through MYOB Essentials.
7. Fulfilling GST and BAS obligations. Preparing your BAS is super easy as MYOB Essentials generates a GST report for you anytime, whether you submit your BAS quarterly or monthly.
8. Reports. MYOB Essentials offers business 30 reports including GST, BAS and Profit & Loss.

Embracing cloud accounting is part of OBT’s accounting and tax vision to help clients streamline their data processing and save time on generating paperwork to collaborate and explore the other possibilities of their businesses, and address the issues that matter in a more timely, meaningful manner.

Call OBT on 5462 2277 to find out more or to organise a trial. If you already have MYOB annual licence cover, you can trial MYOB’s online services for free – there’s no obligation.

Source MYOB