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Notice: MYOB has been re-branded as ABSS with effect from 1st Jan 2018.

Frequently asked questions about MYOB

 

Is MYOB a double-entry accounting system?
When is the right time during the year to start using MYOB?
Can you start using just one section of MYOB and introduce the others at a later stage?
Do you have to close the year on the last day of the financial year?
What type of business is MYOB suited to?
Does MYOB necessitate complex reversing entries to make amendments?
Can I export MYOB data to Excel?
Does MYOB allow the entry of general journals?
Does MYOB allow reports to be customised?
Does MYOB have a flexible password system?
What is company file activation in MYOB?
What is the difference between MYOB single user and MYOB multi user?

Single user and multi user simply means how many users can open an MYOB company file at one time to enter transactions.

For single user licences like with MYOB Accounting, only one person can open a company file and create invoices, receive payments from customers, etc. This is only suitable for smaller companies that have one person managing all the day to day transactions for the business.

With the multi user versions like MYOB Premier, multiple persons can access the company file. The advantage to this is that you can distribute the workload rather than depend on one person to ensure that your accounts are up to date.

For example, sales persons could create invoices for customers while whoever is in charge of accounts would be responsible for receiving payments from customers and matching those payments against invoices.

What is the difference between MYOB Accounting and MYOB Premier?

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