Don’t be fooled by the term “small business.” Even if it’s not a huge corporation, your business has lots of facets that require your attention. The time you have to spend on each of them may vary but the dedication you need to put in always has to be greater. Unfortunately, this is rarely easy; after all, you can’t truly focus if you’re dealing with two or more issues at the same time.
Many small business owners have sought assistance from online accounting software to handle their books and financial transactions. One of the most renowned options is MYOB.
The MYOB accounting system is known as a simple accounting software for small and medium-sized enterprises. While it is simple and easy to use, it is also powerful with its emphasis on workflows and business processes. It aims to automate all financial aspects of your business.
Let’s go through some of MYOB’s key features to find out why your business needs the power of MYOB cloud accounting software.
1. Mind Your Own Business to Take Back Your Time
With MYOB managing your cash flow you won’t need to spend days upon days micromanaging. You won’t even have to worry about your ATO compliance requirements anymore because preparing them will be as easy as 1-2-3. MYOB’s time-saving features allow day-to-day bookwork to be handled efficiently.
MYOB also allows you to view your previous and current reports at any given time. You won’t even need to wait until the end of the month to review your status. These real-time reports on figures for sales, profit and cash flow make it easier for you to instantly identify areas that need improvement – hence, saving you a lot of time.
2. Mind Your Own Business to Manage Your Books
Famous for its easy setup procedure, you can quickly link your bank account to it and allow the software to reconcile your bank transactions for you. You can also view all your cash flow transactions—including your remaining balance, outstanding invoices and tax liabilities—in real-time, to help you figure out what needs your attention.
Keeping your books organised is also a breeze, as MYOB’s features allow you to store your bills and supplier invoices. It will be easier for you and your accountant to review your financial status with all this data that you both can simply access.
3. Mind Your Own Business to Collaborate Better
With MYOB you can coordinate with your bookkeeper or accountant even if you’re in different places. All you have to do is give him or her access to your account, and he or she can very simply go through your data and give you advice on your queries. You and your bookkeeper (or accountant) can collaborate better with all your important data readily accessible to both of you.
MYOB also has automatic updates that keep you up to date with tax law changes. This makes meeting all your monthly and quarterly compliance requirements hassle-free. With MYOB, you won’t have to worry about any trouble with the ATO.
Everything you need to take care of your business, MYOB can and will take care for you. From unlimited bank transactions to countless invoices to having an unlimited number of users, you have all the power to manage your business exactly the way you want to.
To learn more about how you can Mind Your Own Business with the help of MYOB, you can speak to our friendly team of professionals. Omnis Group’s accountants and business advisors can help you with your cloud accounting software needs. All you have to do is contact us at 9380-3555.