How to Grab the Attention of MYOB Accounting Software 817x588
  • April 11, 2017
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How to Grab the Attention of MYOB Accounting Software

Singapore Accounting Software ,our small to medium business is MYOB (Mind Your Own Business) accounting software.

Small and medium sized businesses can now buy ‘off the shelf’ accounting programs at remarkably low cost.  Larger businesses will often have customized programs made for their business.  The accounting programs carry out functions such as invoicing, dealing with payments, paying wages and providing regular accounting reports such as trading and profit and loss accounts and balance sheets.

Myob Accounting software The introduction of computerized accounting systems provide major advantages such as speed and accuracy of operation, and, perhaps most importantly, the ability to see the real-time state of the company’s financial position.  In my experience I have never seen a business that has upgraded to a computerized accounting system return to paper based accounting systems. A typical computerized accounting package will offer a number of different facilities.  These include:

– On-screen input and printout of sales invoices

– Automatic updating of customer accounts in the sales ledger

– Recording of suppliers’ invoices

– Automatic updating of suppliers’ accounts in the purchases ledger Recording of bank receipts

– Making payments to suppliers and for expenses

– Automatic updating of the general ledger

– Automatic adjustment of stock records

– Integration of a business database with the accounting program

– Automatic calculation of payroll counting software aand associated entries

Computerized accounting programs can provide instant reports for management, for example:

– Aged debtors’ summary – a summary of customer accounts showing overdue amounts

– Trial balance, trading and profit and loss account and balance sheet

– Stock valuation

– Sales analysis

– Budget analysis and variance analysis

– GST/VAT returns

– Payroll analysis

When using a computerized accounting software the on computer, input screens have been designed for ease of use.  The main advantage is that each transaction needs only to be inputed once, unlike a manual double entry system where two or three entries are required. The computerized ledger system is fully integrated.  This means that when a business transaction is inputed on the computer it is recorded in a number of different accounting records at the same time.

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