What you ought to know about MYOB’s new updates
We return from the recent MYOB Roadshow with good news. MYOB has released some exciting new features that will streamline the bookkeeping process further and drive more business efficiency.
In particular, the Smart Bills feature is a huge innovation…enabling businesses to automatically receive, store and link electronic formats of bills into their MYOB Essentials and MYOB AccountRight Live software, and have the program record the details of the bill.
This feature will develop further over time, and will link in with ability to pay bills directly from the electronic version, by clicking on a PAY NOW button on the form itself. Bookkeepers will be able to access the bill remotely, and businesses will be able to manage their account payables more easily.
So here’s a summary of the main new features….If you would like to download the MYOB Fact Sheet with more info, a link is provided at the bottom of the post.
A Smarter Way to Manage Your Bills
If you have your suppliers send you invoices online, then this update is going to save you precious time. Now you can drag and drop your supplier invoices into your AccountRight In Tray and link them with existing bills in your company file.
Sign into AccountRight easier by linking your MYOB account with your company file ID.
More Reports to Help you Analyse and Compare
Reports are often an under-utilised feature of accounting software. Reports help us interpret the data a business generates and by accurately interpreting the data we have an opportunity to improve business’ operations. In this update MYOB have added a range of reports for accounts, sales, purchases, time billing, and inventory.
Roll Back a Closed Financial Year
Every now and then you may find yourself in a position where you need to edit/add/remove a transaction from a closed financial year. This is now made super-easy.
Improving speed appears a constant goal of MYOB and in these latest updates they’ve been able to speed up the process of creating a transaction with a recurring template.
Consolidated To Do List Bill Payments
If you previously used the Accounts Payable view of the To Do List to pay bills you will have recorded separate Pay Bill transactions even when paying to the one supplier. These will now be consolidated to match your bank entry feed.
Click here to download the MYOB Fact Sheet.