Will MYOB keep track of personal finances and Business finances?

Question

I am new to this space sorry for my ignorance.

Before I sign up for MYOB i am keen to know will MYOB keep track of personal finances and Business finances?

If so, I am a sole trader at present and will most likely transition to a company at some stage. what is the best version of MYOB to use?

DuncanS · Answer

@1ServicesTLC

A Sole Trader can include Personal and Business Finances in the one MYOB file.

This may incur further expense with the Tax Accountant.

I often ask Business Owners to prepare a Family/Personal Budget.

There are many Spreadsheets available.

A Company should not include Personal and Business Expenses in the one MYOB file.

Where a Director has complex financial affairs, a separate MYOB file is required.

Duncan

Cloud_Mind · Answer

Hi @1ServicesTLC

How inspiring opening up your new business.   I recommend you contact a MYOB Partner to help you select the best product, set up the file, and train you.  I am a MYOB Partner and BAS agent if  you want to reach out my website is in my profile