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Add on for Financial Statements - NOT Accountants Version of MYOB

Experienced Cover User SandieW50
12 Posts
Experienced Cover User
Australia

Add on for Financial Statements - NOT Accountants Version of MYOB

Hi,

 

I work as a Management Accountant for an engineering company and once a year have to produce Financial Statements for this company and the holding company.  I'm fed up with trying to create Fin Stats in Excel and Word so could anyone recommend an add on that would link to MYOB and also let me enter the notes to the accounts manually.  I'm not asking about the Accountants version of MYOB just is there anything else available.  What do other people do?

 

Regards

Sandie

7 REPLIES
MYOB Moderator Neil_M
4,208 Posts
MYOB Moderator
New Zealand

Re: Add on for Financial Statements - NOT Accountants Version of MYOB

Hi Sandie ( @SandieW50 )

 

Welcome to the MYOB Community Forum, I hope you find it a great resource.

 

Some users have found that employing an add-on solution, such as the ones available through our MYOB Add-on Centre, has been the answer to their needs. Add-ons can be used to enhance the functionality of your AccountRight to improve functionality such as enhanced reporting.

 

All of the add-ons in our MYOB Add-on centre have the developers contact details, so if you had any questions about the functionality you can get in touch with the developers of the add-on to find out exactly what the add-on can do for you.

Please do let us know how you get on with this.



Kind regards,
Neil
MYOB Client Support
Experienced Cover User SandieW50
12 Posts
Experienced Cover User
Australia

Re: Add on for Financial Statements - NOT Accountants Version of MYOB

Hi Neil,

 

I had already looked at a few of the add ons before posting this question and nothing there seemed very suitable.  I just wondered if anyone else had this problem and had adapted what was available.  I will be interested to see if I get any replies.  Maybe I should try and work in collaboration with a developer as I'm sure I'm not the only person trying to produce annual Financial Statements only once a year.  It is very tedious in Excel and Word.

 

Regards

Sandie

Ultimate Partner ronatbas
3,444 Posts
Ultimate Partner
Australia

Re: Add on for Financial Statements - NOT Accountants Version of MYOB

@SandieW50@Neil_M

 

I don't make a practice of promoting other businesses but one of the regular contributors to this forum may have the solution you are looking for. @Jennifer_Kelly  does a lot of the type of work that you are after. There is also Just Reports, can't recall the contact name they also  tailor your reports to your needs.

Ron B
BAS Group
03 95588477

info@basgroup.com.au
Making MYOB work for you
Valued Partner Jennifer_Kelly
278 Posts
Valued Partner
Australia

Re: Add on for Financial Statements - NOT Accountants Version of MYOB

Hi @SandieW50

 

@ronatbas had suggested that our Business Intelligence tool BI4cloud may be able to help you with your reproting requirement.

 

First up I am a Chartered Accountant and am very familiar with the annual pain of having to prepare Financial Statements having spent thousands of hours preparing them when working in Public practice. These days there are software tools available but as far as I know they are, as you say, in the Accountants version of software.

 

Our software does provide a very flexible reporting layer for enhanced reporting out of your MYOB file/s however it is more of a management accounting tool providing the ability to slice and dice MYOB data by Division, Category, Jobs/ Job headers, Sales & margins etc. rather than the year end Financial reporting around stat accounts. 

 

Having said that many clients do use our tool for this type of reporting as we do have a facility for you to add up to 3 lables to each GL account ( we call these GL custom lists). Clients often use these to allocate their P&L accounts to different Divisions or States then they can easily report by these dimenions.  You could also allocate your COA to different groups to report in a different format than the std MYOB chart and also add a Note number to each of the GL accounts then report in summary or in detail by each of the "note numbers" to see the accounts and balances that make up each note.

This would give you the raw numbers to insert into your Word doc or Excel financials however our tool does not allow for you to imbed this into your final stat accounts and enter the words around the notes.  We can also consolidate multiple MYOB files.

 

So we could help but not a full solution for your year end accounts problem

 

However if you are an Engineering firm and use MYOB Jobs we can do some fantastic Jobs reporting, job profitability by Customer, by Job header levels, by Job manager. Also have reports to assist with WIP calcualations as our Jobs reports pick up Actuals plus and Sales Orders and Purchase Orders yet to be invoiced that can be used to help with Cost to complete calcuations.

 

All details and a 14 day free trial are on our website www.BI4cloud.com

I hope this helps

 

Jennifer Kelly CA
BI4Cloud- powered by Interactive Reporting
02 8011 1511
www.BI4Cloud.com
Experienced Cover User SandieW50
12 Posts
Experienced Cover User
Australia

Re: Add on for Financial Statements - NOT Accountants Version of MYOB

Hi Jennifer,

 

Thank you for your reply I will certainly take a look.  At the moment I cut and paste as a bitmap from Excel into the Fin Stats that are setup in Word.  I'm sure there would be a market for some sort of MYOB/Word/Adobe/Publisher type combination I can't be the only one that has to do annual accounts.  I find Word so frustrating to use having inherited the file from the previous Accountant.

 

Regards

Sandie

Ultimate Partner Seattle
1,196 Posts
Ultimate Partner
Australia

Re: Add on for Financial Statements - NOT Accountants Version of MYOB

@SandieW50 @Jennifer_Kelly @ronatbas @Neil_M

 

Sandie,

 

None of my clients have to prepare a General Purpose Financial Report and thus Notes are not required to the Financial Statements..
I believe the threshold is some $25 million.

It is mentioned in the Compilation Report that I have prepared a Special Purpose Financial Report.

 

Would not your Tax Accountant prepare the Financial Statements (with notes if required) at the time of preparing the Tax Return?

 

Duncan

Duncan Smith
Business Advice + Tax
www.businessadviceplustax.com.au
Helping business owners build a better business since 1998
E expressgst@optusnet.com.au T 02 9904 3672 7 days
Experienced Cover User SandieW50
12 Posts
Experienced Cover User
Australia

Re: Add on for Financial Statements - NOT Accountants Version of MYOB

Hi Duncan,

 

There are various reasons for the companies having to prepare Financial Statements and I do that not the Accountant.

 

Regards

Sandie 

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