MYOB Bookkeeping in Melbourne – the best for your Business

If you are looking for accounting and bookkeeping software for both small and medium enterprises, you have many good options to choose from. However, if you want the best, then MYOB Bookkeeping in Melbourne should be your pick. MYOB Bookkeeping is accounting software made in Melbourne and other cities of Australia. It has a huge market share in Australia, New Zealand, and United Kingdom markets and has now successfully moved into the United States market as well. MYOB Bookkeeping has numerous products available to meet the needs and size of your business in Melbourne. This includes Business Basics, Accounting, Accounting Premier, Accounting Plus, and Account Edge for Mac Users.

MYOB Business Basics has been designed for enterprises that want to record and print sales invoices, maintain a card file of people who they sell and buy from, and make regular reconciliations of its bank statements.

MYOB Accounting is a step up from business basics and has more features, such as a record of purchases, creditors with reports of aging, inventory record, as action or purchase of the sale, being able to link to MS Office, where you are able to send letters to creditors or work in Excel utilising the option spreadsheet to alter the figures, add formats, etc.

MYOB Accounting Plus is good for medium enterprises. This software includes aggregate functions billing Payroll, Time.

MYOB Premier is the option thereafter. This program has all of the above with more features such as the ability to utilise multiple currencies.

To choose which MYOB Bookkeeping package in Melbourne is best suited to your business, you need to first list the features you require. Then, compare it to the features of each package mentioned above. Thereafter, download the appropriate MYOB product on your website. You do not have to pay upfront. You may download and use the trial period to ensure that it suits your needs.

Accounting advice for keeping records and receipts

Many new and small businesses aren’t used to having to account for their transactions and might forget to record them. In this way they miss out on valuable tax deductions on expenses or even understate their income, resulting in potential fines and penalties.

However, there are many cloud accounting packages that enable you to track or submit your expenses on the go, from your tablet or mobile.

Another advantage of cloud accounting software is that you can store bills and receipts online rather than in shoe boxes. Small businesses often don’t have the in-house expertise to account for these transactions in a correct manner.

Another significant reason for ensuring your business keeps records is to help you get paid by your customers, which is a top priority for small businesses which have limited cash reserves.

Accounting advice for deadlines and forms

Most small businesses have at least 2 deadlines to comply with, one for filing tax returns; and the other for paying the associated tax bill. As well as complying with the above deadlines, the HMRC forms are notoriously difficult to comprehend, meaning an often simple tax return might take far longer than planned.

An accountant can make sure you meet those deadlines, and perhaps aid the business to save tax and increase its turnover and profits.

Accounting advice for dealing with company administration

Assuming the business is owner-managed, there are a number of legal and financial problems that company directors must be holding cognizance of. They need to know how to extract profits from the business efficiently from a tax point of view. They need to make sure any dividends voted for are within the profits available after tax. Therefore, ideally, they should be well aware of profits as they go along.