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AccountRight

Accounts list: Adding default category

Cover User

1Posts

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1 Post
Cover User
Australia
New
New

I have found MYOB reporting to have significant limitations when a business has different cost centres and wishes to report on these seperately

The business uses the 4 codes for sales and the 5 codes for cost of sales whilst the 6 codes are used for the admin expenses of the entire business.  We cannot therefore report on profit centre 1, profit centre 2 etc seperately.

I have explored the use of categories and these appear to have potential.  The major problem with this is that you need to specify the category at the bottom of each data entry page for every transaction.  This is not feasible!!

SO - can the software be upgraded so that categories can be linked to account codes (so that the account code defaults to one of the categories). This would save having to enter the category on every transaction and hence open up huge potential for the use of category reports.

 

"Account Right reporting "

7 Comments
JaneJ
1 Post
Cover User

Great idea!

Experienced Cover User Tanya_Spence
42 Posts
Experienced Cover User

Have you tried using jobs?  Personally I prefer it over categories.

Super Partner Jennifer_Kelly
439 Posts
Super Partner

Hi @GayleP and  @JaneJ 

 

 As @Tanya_Spence noted many people do use Jobs to account for Profit centres, however that too requires users to allocate a Job to every line of every transation.

 

You will find that a number of the MYOB Add-on solutions can help you with a solution to allocate a each GL account to a Profit Centre then to easily report by Profit centre. See - http://myob.com.au/addons/.

 

As an example our Busines Intelligence software BI4Cloud will let you set up GL Custom lists where you can allocate P&L accounts to divisions, states or any other group you like. 

You can then report by Division including Acutal v Budget and against prior periods.

Here is an article explaining how it works and some example reports - https://support.bi4cloud.com/hc/en-us/articles/218182627-Run-Divisions-or-Cost-Centres-With-Monthly-...

 

Here is an example P&L by State.

Divisional P&L (1).png

 

All details and a 14 day free trial are on our website www.BI4Cloud.com

 

Jennifer Kelly CA

BI4Cloud

 

Partner coopersmith
6 Posts
Partner

I like to see the ability to allocate to more than one category per transaction as often an expense eg Telstra is distributed across more than one cost site.

Especially as "jobs" are already in use to drill down to more specifics for a particular item

Experienced Cover User BronwynHamster
152 Posts
Experienced Cover User

This suggestion would not work for us, as we use the same account codes over several categories.

Contributing User ClaireMartin
14 Posts
Contributing User

Yes please!

Mimbos
1 Post
Cover User

This would be SO helpful!

totally agree