Accounting Software UK

MYOB PartnerUpdate - November 2007

It’s a great time to be working with MYOB!

• Sales of our business software in the UK have increased by 60% in the last year
• We now have a 35% market share in PC World - the UK’s Number 1 software reseller
• Traffic on our website has doubled in the last 12 months
• Over 600 accountants, consultants and bookkeepers are now MYOB Professional Partners
• There are over 45,000 MYOB clients in the UK, requiring professionals with knowledge of MYOB software

Whether you’re already a Partner or are thinking of joining, our free MYOB PartnerUpdate seminars provide an ideal opportunity to learn more about MYOB products and the MYOB Professional Partner programme.

Special offer

If you’re not already an MYOB Professional Partner you can get a free copy of MYOB Accounting Plus (worth £349 + VAT) just by coming along to an MYOB PartnerUpdate to find out more.  Existing MYOB Professional Partners will get one free copy of MYOB Accounting Plus for each prospective Partner they bring, with no limit on the number!

• View agenda
• View venues and dates
• Book your tickets

Agenda

Introduction to MYOB products
Salmaan Nasser, MYOB Product Technical Specialist, introduces the MYOB business software range.

New MYOB KnowledgeBase
Get a guided tour of the new MYOB KnowledgeBase, an extensive online database of hints, tips, issues and solutions, available to both Partners and their clients.

Partner Web Forum
See the new Partner Web Forum which allows Partners to communicate with each other and MYOB, to share ideas and opinions and ask questions.

MYOB in 2008
What’s in Version 17? Get a preview of some of the highlights of the latest version, scheduled for public release in Q1 2008.

Advanced stock control
Are your clients making the most of the stock control facilities in MYOB Accounting and MYOB Accounting Plus? We’ll show you a few tricks that even you might not have thought of!

Venues and dates

Date
Location
Venue

Thurs 15 November
Glasgow
City Inn, Glasgow, Finnieston, Quay, Glasgow, G3 8HN

Tues 20 November
Manchester
Marriott Hotel, Water Street, Manchester, M3 4JQ

Weds 21 November
London, Gatwick
Sofitel, North Terminal, Gatwick Airport, RH6 0PH

Tues 27 November
London
Savoy Place, 2 Savoy Place, London, WC2R 0BL

Weds 28 November
Bristol
The Park Resort, Wick, Near Bath, BS30 5RN

Thurs 29 November
Birmingham
Hyatt, 2 Bridge Street, Birmingham, B1 2JZ

Times

9.00am - 9.30am
Registration

9.30am - 12.30pm
MYOB PartnerUpdate sessions

Tea, coffee and biscuits will be available during registration and morning break.

• Leave a comment... (5)

MYOB for businesses

MYOB software is the fastest, easiest way to manage your business finances. No wonder that 500,000 business owners worldwide rely on MYOB software and services.

For further information - or to buy or try any of the software - select from these links. Alternatively, call the MYOB Customer Service Team on 0845 130 3975 (Mon-Fri 9 am - 5:30 pm).

MYOB BusinessBasics

Process sales, manage your VAT and track who owes you money.

• Find out more about MYOB BusinessBasics

MYOB RetailBasics

Give your PC more functionality than a cash register.

• Find out more about MYOB RetailBasics

MYOB Accounting

Process payroll, sales and purchases, manage VAT and email quotes and invoices.

• Find out more about MYOB Accounting

MYOB RetailReady

Software and hardware to turn your PC into a point-of-sale solution.

• Find out more about MYOB RetailReady

MYOB Accounting Plus

Multiple currency accounting, professional time billing and advanced stock control.

• Find out more about MYOB Accounting Plus

MYOB Payroll

Automates payrolls of all sizes, from one to 1,000 employees.

• Find out more about MYOB Payroll

Get more information about MYOB software and services

• Read recent product reviews
• See a list of awards given by the computing press
• Find out what MYOB customers think by reading their case studies

MYOB for accounting practices

MYOB also provides software and services to help professional accountants run their own practice more profitably and, in turn, help their clients do the same. MYOB’s practice management, tax, client accounting and document management software is used by other professional service organisations such as lawyers and tax advisors.

• Find out more about MYOB software for accounting practices and other professional service organisations
• Find out more about the services that MYOB can provide to these firms
• Find out what MYOB clients think by reading their case studies

• Leave a comment... (7)

Viztopia Accounts Production is easy to use, flexible and automates many key tasks. It can save you time and money while producing a high-quality final output that exceeds your clients’ expectations.

Today VAP is in use at over 1,000 practices throughout the UK and Ireland, ranging in size from sole practitioners to 12 of the top 20 UK firms.

VAP modules

You can expand VAP’s feature-rich interface by adding one or more modules:

• Viztopia Accounts Formats
• Fixed Asset Register
• Invoicing
• Audit Journal Tracking
• Group Consolidations
• Data Conversion

You can also extend the functionality of MYOB Viztopia Accounts Production with MYOB PerformanceOptimiser , a powerful business advisory tool.

Features & benefits

Viztopia Accounts Production

• A comprehensive ‘cradle-to-grave’ accounts production system.
• Full import and export facilities to and from all leading software packages.
• User-friendly input of statutory information including detailed exception report on any omissions or non-compliance.
• Instant amendment for post trial balance journals.
• Comprehensive chart independent accounts templates to deal with all statutory and audit scenarios.
• Large, medium, small, abbreviated and FRSSE limited company formats, partnership and sole trader formats included as standard. Charity, LLP, pension, farm and group accounts formats templates also available.
• Ability to produce euro financial statements.
• Lead schedules, management accounts and analytical review.
• High quality, flexible output.
• Drill down from final accounts and nominal reports to initial point of entry.
• Quick and easy on-screen review and editing of final accounts.

• Leave a comment... (1)

Small businesses cry out for strategic guidance from accountants

• More than half (57%) of small businesses want more advice from accountants, not just admin
• More than half (58%) of small businesses face greater financial management pressures than they were a year ago
• Small businesses employ an accountant at five employees (76%)
• Accountants in Northern Ireland perform the best, with 93% of small businesses satisfied, compared to just 53% in Wales

London,  A survey of 500 small business owners (2-20 employees) by MYOB Limited today reveals that over half (57%) of small businesses are demanding more strategic advice from their accountants to overcome the mounting pressure of financial management complexities. This illustrates an important move beyond the traditional tax and VAT administration support that accountants are most commonly associated with.

The survey by MYOB, the accounting software and services provider, revealed that with almost half of respondents (43%) citing legislative compliance as a top concern, 57% want more compliance and legal advice from their accountant. A high demand for operational management assistance was also top of the small business agenda with almost half (48%) requesting payroll services. Small businesses value advice from accountants, with almost half (45%) asking for recommendations for accounting software to manage bookkeeping.

The statistics also show that once a small business reaches five employees, it is highly likely to look to an accountant for bookkeeping (76%). Tax returns are the most popular service with 60% of small businesses calling on accountants to help ease the tax burden. 35% use VAT returns and also auditing services to help run their business.

Accountants in some regions are not performing as well as others resulting in variations in satisfaction levels with the accountancy services received. Northern Irish practices best meet the expectations of small business clients with an overwhelming 93% saying they are satisfied with the services they receive. In contrast, the North East and Wales achieve 54% and 53% of satisfied small business customers respectively.

Simon Crompton, general manager of MYOB says: “The desire from the small business sector for a wider range of services from accountants is encouraging news for accountants. The statistics show that it is more important now than ever to seek ways to diversify your practice to offer a greater level of strategic and business advice to support smaller clients.

Crompton continues: “As staff retention and recruitment challenges continue to harm practices profitability, business services offer a breath of fresh air and a competitive advantage to practices wanting to grow. A strategic offering will help revive the staffing crisis and encourage practitioners that being an accountant can be far more rewarding than simply filing VAT returns.”

Media enquiries

For media enquiries please contact:

Nicola Truman, Kate Hamilton or Amy Gooch
Hotwire PR
Phone: +44 (0) 20 7608 2500
Email: myob@hotwirepr.com

For enquiries regarding MYOB products and services, please visit our Contact us page.

About MYOB

MYOB is a global provider of solutions that liberate business owners and accountants from the burden of day to day administration, empowering them to achieve business success. MYOB develops and delivers award-winning software, services and support for more than 500,000 businesses and over 10,000 accounting practices worldwide.

Owner-operated businesses are the most dynamic force in the world economy and yet they are universally challenged by limited resources. MYOB uses its knowledge, expertise and scale to help them build better businesses.

MYOB also works directly with accounting practices to streamline their processes and maximise their productivity. MYOB solutions are used by leading accounting practices from tax agents and sole practitioners to the ‘Big 4′ firms.

Through its understanding and partnership with both business owners and accountants, MYOB strives to further enhance the links between them for their mutual benefit.

MYOB Limited is a public company listed on the Australian Stock Exchange (ASX symbol ‘MYO’).

• Leave a comment... (0)

Now 50% off selected business and retail software!

MYOB software is the fastest, easiest way to manage your business finances. No wonder that 500,000 business owners worldwide rely on MYOB software and services.

And there’s no better time than now to find out why!

For a limited period, MYOB business software is half price. That’s right - you can buy the latest copy of MYOB award winning software from less than £40, plus VAT.*

Software ordered directly from the MYOB website normally takes just a couple of days to arrive, so in no time at all we’ll be helping you run your own business more efficiently than you could have imagined.

Use the links below to find out more about MYOB software and to buy online at the special offer price and take advantage of our 30 day no quibble money-back guarantee. Alternatively, call the MYOB Customer Service Team on 0845 130 3975 (Mon-Fri 9am-5.30pm).

		MYOB BusinessBasics Ideal for start-ups, sole traders and small businesses, MYOB BusinessBasics helps you process sales, manage your VAT and track who owes you money. Was £79, now £39.50 (+ VAT and delivery) - save £39.50! Find out more about MYOB BusinessBasics Buy MYOB BusinessBasics online today with a 30 day money-back guarantee

Get more information about MYOB software and services

• Read recent product reviews
• See a list of awards given by the computing press
• Find out what MYOB customers think by reading their case studies

* Offer open until 31 August 2007, or until allocated stock has been sold, whichever is the sooner. The following software is included in the offer: MYOB BusinessBasics, MYOB Accounting, MYOB Accounting Plus, MYOB RetailBasics, MYOB Payroll.

Delivery prices are for UK only. For other locations, please call the MYOB Customer Service Team on 0845 130 3975 (Mon-Fri 9am-5.30pm).

• Leave a comment... (0)

MYOB for retail businesses

Whether you’re just starting your retail operation or are looking to ways to improve its efficiency, MYOB has the answer. MYOB retail solutions are powerful yet easy to use and integrate with MYOB Accounting or MYOB Accounting Plus to provide an end-to-end solution to all your retail needs. No wonder that 500,000 business owners worldwide rely on MYOB software and services.

For further information - or to buy or try any of the software - select from these links. Alternatively, call the MYOB Customer Service Team on 0845 130 3975 (Mon-Fri 9 am - 5:30 pm).

MYOB RetailBasics

A powerful point-of-sale solution that gives your PC even more functionality than a cash register, and gives you an efficient way to process sales.

• Find out more about MYOB RetailBasics
• Try MYOB RetailBasics free for 45 days
• Buy MYOB RetailBasics online today with a 30 day money-back guarantee

MYOB RetailReady

All the essential software and hardware peripherals you need to turn your PC into a powerful point-of-sale solution.

• Find out more about MYOB RetailReady
• Try MYOB RetailReady free for 45 days
• Buy MYOB RetailReady online today with a 30 day money-back guarantee

Get more information about MYOB software and services

• Read recent product reviews
• See a list of awards given by the computing press
• Find out what MYOB customers think by reading their case studies

• Leave a comment... (0)

Taxation

The MYOB Tax Family encompasses the entire spectrum of taxation software needed by any practice.

If you produce tax returns for your clients, you need the PerTAX Family of Tax products . This suite of tightly integrated applications handles personal, partnership and trust and estate tax affairs.

Securities income and Capital Gains Tax calculations are simple with SecTAX , and links to share price data feeds mean client portfolio valuations are always up to date.

CorTAX performs UK corporation tax computations and produces facsimile CT600 tax returns.

Republic of Ireland

Professional firms in the Republic of Ireland can use Taxpack and Compad for personal and corporate tax and administration. Find out more about these two applications on the MYOB website for the Republic of Ireland .

PerTAX Family

Handles all compliance work relating to your client’s personal, partnership, trust and estate tax affairs.

PerTAX eQuest

Capture client information via your website

PerTAX eSP

Produce and export detailed reports easily. 

PerTAX R185 Beneficiaries

Store taxable income details of each trust or estate beneficiary and produce R185.

PerTAX Aide-Mémoire

Automates production of personalised, paper-based questionnaires for gathering client data

PerTAX Data Conversion

Convert data from competitor systems

SecTAX

Makes Securities Income and Capital Gains Tax calculations simple 

CorTAX

 Performs UK corporation tax computations and produces facsimile CT600 Tax Returns.

Other Products + Services

Central

Run your accounting practice efficiently with MYOB practice management systems, tax solutions and services

Accounts Production

The Viztopia Accounts suite is in use at over 1,000 sites, making it one of the UK’s most popular choices for accountants in practice.

Practice Management

 Easy to use and comprehensive, VPM provides practices with key management information on demand.

Document Management

 Access client information, documents and practice knowledge through a web browser interface.

Trust Accounting

Manage investments with an integrated tax and accounts suite that includes formatting, reporting and data import tools.

Insolvency

 MYOB Insolvency is a flexible and fully integrated accounting system that comprehensively supports personal and corporate cases, both trading and non-trading.

Accountants Services

Outsource your compliance work to UK qualified ACAs and ACCAs

Support, Consulting and Training

 All MYOB software is backed with comprehensive services and support to ensure you get maximum value for your business.

Case Studies

 Accounting firms who use MYOB software cover the entire range of practice size – from sole practitioners to Top 20 firms. Read about their experiences here.

• Leave a comment... (0)

Training for Accounting Practices

Working with your MYOB Consultant

When establishing a new Accounts Production system, many decisions need to be made in order to gain the full benefits from the software, while still maintaining a practical means of operation. The types of decisions that need to be made will vary from practice to practice.

MYOB works with you to determine the most effective way of setting up the Viztopia Accounts Production software to meet your requirements, ensuring that you realise the full potential of your investment in MYOB.

After the meeting, you are provided with a copy of the completed implementation plan, which confirms the various tasks, responsible party and associated dates for the key implementation stages.

Key Objectives

• To ensure that you are aware of the options available to you within Viztopia Accounts Production
• Help you build a training programme that meets your in house requirements for the production of your client accounts
• To take ownership of all your implementation issues and ensure a smooth transition from your current system to Viztopia Accounts Production

Course Contents

• Your investment in MYOB
• Your team and responsibilities
• Procedures and control
• Existing Systems – accounts production, network infrastructure
• Security
• Training requirements
• Implementation
• Support

Viztopia Accounts Production Implementation (PDF 33KB)

• Leave a comment... (0)

Overview

Know the impact of every financial business decision before you make it

The ability to analyse and evaluate accounting data is a fast emerging trend because it allows accountants to really understand the drivers in their clients’ businesses.

MYOB PerformanceOptimiser allows you to analyse your clients’ financial records to determine the strengths and weaknesses in their businesses. It helps map out a financial strategy and provides numerous opportunities for business improvement.

MYOB PerformanceOptimiser turns the data you have in MYOB Viztopia Accounts Production into an easy-to-understand ‘financial scorecard’. You can then analyse this information quickly and easily, as well as model future profit, performance and cash flow scenarios.

Features & benefits

MYOB PerformanceOptimiser - making business simple

MYOB PerformanceOptimiser helps you to understand and control your clients’ key business drivers and lets you perform complex calculations in seconds.

Imagine having instant answers to complex questions like:

• What if sales improve by 10%?
• What is the financial impact on cash flow if I increase my volume?
• How can I improve my cash flow?

MYOB PerformanceOptimiser gives you the power to answer such questions in just a few seconds.

Perform ‘What if’ analyses

With MYOB PerformanceOptimiser, you can perform ‘What if’ analyses on your clients financial figures, allowing you to model a range of different scenarios and see the outcomes.

Goal seeking

Goal seeking allows you to set a financial objective, and see what is needed to achieve that goal. To goal seek you simply enter the figure you want to achieve, and MYOB PerformanceOptimiser will show you the impact of that change on other areas - so you can see exactly what you need to do to achieve the desired

Features & benefits

MYOB PerformanceOptimiser can help you build your practice in many different ways. Here are just 10 suggestions:

1. Provide business health checks for your clients
   MYOB PerformanceOptimiser automatically generates a 19 page diagnostic report. This is an easy way to increase the benefits you offer your clients, without increasing your workload.
2. Conduct feasibility tests
   With MYOB PerformanceOptimiser’s unique ‘What if’ and ‘Goal seeking’ functionality there’s no need to set up complex Excel worksheets and models. It’s incredibly quick and easy to review new business opportunities using MYOB PerformanceOptimiser’s one-page financial scorecard.
3. Help your clients prepare for bank meetings and reviews
   MYOB PerformanceOptimiser features all the major financial ratios and lending covenants used by banks and financial institutions. By knowing what banks are looking for you can prepare your clients for successful meetings with their financiers.
4. Win new business
   You can load data in minutes and impress prospective clients with your knowledge and insight about their business. It’s easy to print diagnostic reports that illustrate your willingness to really add value to their business.
5. Focus on cash flow
   Inventory, receivables and payables management all consume businesses cash flow - MYOB PerformanceOptimiser uses flowcharts and analysis screens to explain this to your clients in simple terms. For example, MYOB PerformanceOptimiser’s Profit to Cash report explains concepts that all business owners should understand.
6. Monitor and manage your clients’ business performance
   MYOB PerformanceOptimiser provides a framework for analysis, which means you can standardise the way you conduct strategic planning services. Clients will appreciate the consistent methods used to monitor and manage business performance, and because MYOB PerformanceOptimiser makes it so easy, these reviews can be conducted on a regular basis.
7. Conduct due diligence and business valuations
   MYOB PerformanceOptimiser’s ability to roll forward is ideal for testing assumptions, preparing financial projections, validating information and preparing valuations in trade sales or company acquisitions.
8. Assist with financial planning and wealth management
   Creating projections and offering wealth management and tax planning advice has never been easier. With MYOB PerformanceOptimiser you can start cross-selling your services to generate greater revenue.
9. Investigate specific scenarios before your clients implement them
   ‘What if’ calculations for price changes, promotions, revenue growth vs. discounting and other scenarios need a business model you can trust. To gain the confidence of your clients, you also need to be able to show how the results are calculated. By using MYOB PerformanceOptimiser’s Net Change feature you can illustrate likely outcomes and stress-test scenarios before you actually implement them.
10. Conduct ‘going concern’ analysis
    MYOB PerformanceOptimiser is ideal for auditors who need to establish the basic principle of a ‘going concern’. All reports can be exported to show critical performance indicators.

• Leave a comment... (1)

When last we looked at MYOB Accounting Plus we found it to be a very capable small business accounting package, best suited to users with existing bookkeeping expertise rather than complete beginners. Since then it’s been further updated, albeit with no real changes to the user interface or the need for basic accounting knowledge, but with the addition of a number of a number of useful information-sharing and productivity features.

The most obvious of the new features is the ability to synchronise MYOB contacts with Microsoft Outlook and the Apple AddressBook. A long overdue enhancement, given the almost universal use of such applications, and one which will let you access the same customer information no matter which program you’re using. It’s also well implemented and easy to use.

Elsewhere you can generate and e-mail remittance advices to suppliers when payments are made, rather than having to manually re-input the data. Likewise it’s possible to create corresponding purchase orders when a sales invoice or quote is produced.

You can now also undo bank reconciliations and unravel any associated transactions, which is a lot easier than having to apply multiple corrections when errors have been made. Moreover it’s possible to undo multiple reconciliations. However, re-applying all those undone transactions will still be a long and tedious process, so it needs to be used with care and possibly only when there’s been a major error that can’t be fixed by some other means.

Transactions can now be pre-dated in this release, with an extended search tool to find recurring transactions being another useful addition. Templates for the printing of credit application forms are similarly to be welcomed, along with the ability to automatically adjust invoices that cause negative stock levels. Payroll too has been enhanced, particularly the import and export tools, plus there’s a new verification facility to see exactly what payments will be made before they’re recorded.

OK, it’s not a major update, with the Outlook synchronisation arguably the most noteworthy of the new tools. However, it’s a worthwhile upgrade for existing customers and is available for both the basic MYOB Accounting package (£212 plus VAT) and the Accounting Plus package we reviewed. The Plus version adds multi-currency support, professional time billing and advanced stock control facilities on top of the basic ledgers, VAT and payroll options. The Plus version also supports multiple users (additional licensing is required) and is to be recommended for larger companies.

Naturally, the MYOB software is fully accredited by HM Revenue and Customs, which means you can use it for e-filing to qualify for tax incentives. However, there aren’t as many add-on third party products available - and far fewer professional services - for MYOB compared to some of the better known products.

• Leave a comment... (0)