Account lists: Header accounts

Hi there,

I have a new client using Essentials version & must say I find it most annoying we can't have sub-accounts as per AccountsRight version. 

It's such a basic requirement for sub-totals & rolled up totals for things like Computing Expenses (equipment, software, support, etc), & Motor Vehicle costs (rego, insurances, fuel, tolls, maintenance, etc).

ATO wants these items broken down to that level but client wants rolled-up level for reporting & Profit/Loss.

Please can it be added to next update for Essentials ?!

The ability to sub account is a critical function that we would expect in any type of general ledger or bookkeeping product. The lack of this basic function is preventing our clients from even considering Essentials or Cashbook. When will this function be available?

Would love to be able to have header accounts like in the full verson on MYOB in Live Accounts - makes budgeting and costing from reports much easier, seeing as there isalso no facility to job cost?

Please please please, would love:

Job costing

Terms & Conditions on Invoices

Larger Logo on Tax Invoices

Header Accounts in GL

Service Date option for sales, like professional setup in Full version

My client and I are on different platforms so cannot use the full version????

It would be very useful particularly for those who are used to heirachial account charts, to be able to create sub-accounts that would total to a header account. Exporting to xl and then wasting time setting this up is not what one expects from a system that focuses on saving time.

Hello Everyone,

Just a couple ideas which will really help out if these features were added to MYOB Essentials. I'll break them up below.

Job Codes:

Job codes are very useful for reporting purposes as they are able to help us distinguish between similar transactions that relate to different things. An example that is most commonly used in job codes for our clients is rental properties and Work-related jobs. You might have a commercial rent income account, but with multiple properties listed under that income account, so we use job codes to separate them when we run a job report which also include expenses for each property under that job code. It's useful as it doesn't spam our initial profit and loss statement with multiple listings of rental properties relating to the same income type. It would be really useful to have this in the MYOB Essentials just as it was in the previous offline MYOB software,

Sub-Accounts:

This was going to be the alternative to using job codes, however we realise this wasn't a feature either!

I believe this should be an essential part of the program as it really helps with financial reporting. Similar view with job coding, we need to show what accounts relate to a main account. For example, the most commonly used accounts in equity are beneficiaries which require separate sub-accounts for opening balance, drawings, capital contributed, and Share of Profit. Without the option for sub-accounts these become their own and it makes a lot messier to show to clients when they aren't grouped together with the totals for the group (to show the net owed/owing of that beneficiary). Other such examples include payroll expenses, motor vehicle expenses and even rental properties. Without sub-accounts it makes it harder to present to the client as there isn't as much clarity as there could be with the use of sub-accounts.

Importing:

Lastly, it would be really useful to implement more importing options, as we are looking to convert a lot of our clients to MYOB Essentials and it would be really great if we could import more than customer and supplier cards from previous MYOB software. I would love to see a chart of accounts import mainly, and for that extra step further I'd love to see that import compatible with Reckon/Quickbooks software as well.

The idea of this is that we want to take all of our clients from all the different versions of MYOB and all the different versions of Reckon/Quickbooks and place them in MYOB Essentials as it creates just one central software everyone can deal with. This avoids all the avoidable extra time spent on messy updating etc. that comes with having 30+ programs/software to keep track of.

If there was just one software to use (after testing all the other online software such as Reckon One), I would love to choose MYOB Essentials. It's just the few things above that we really need to help us properly implement this new system we want to go for. We love the idea of going online as we can connect to bank feeds/import them manually and create rules. Cutting the time on data entry and focusing more on accurate reporting to our clients is our main focus. We want the best results with as much time we can cut out possible (doesn't everyone?) and we believe MYOB Essentials is the best future for achieving this goal.

We hope these ideas will be taken under consideration and hopefully look forward to seeing them in the near future.

Thanks for taking the time to read,

Liam Rutter

Hi DuncanS 

Thank you for feedback on MYOB Essentials and the Accounts list, in particular header accounts. 

The MYOB Essentials accounts list is designed to be a simple accounts list and thus doesn't allow for the creation of headers. 

I would encourage other users that would like to see the ability to create header accounts in future release to vote and comment if required. 

I have a new client that is using Xero...they are using Apple's so the online platform allows them to easily share information with us...and thus we were looking at putting them onto an online accounting software package thus using Essentials rather than Account Right.  They were effectively sub-accounting using a an extended chart of account that was then grouped for reports.  I wanted to break down motor vehicle expenses across fuel, R & M, rego and insurance....in Essentials I have to use full account codes to do this with a much more cluttered profit and loss.  I also liked the way they were sub-accounting owners drawings with account grouping.  This is much needed.

Hello JamesSullivan 

Yes I can see how this feature will help you and all the other clients needing to group the accounts. I encourage anyone else that would like this in future upgrades to click on the Vote+ button and leave your comments. 

Hi,

I can't understand why MYOB Essentials does not have Header & Sub accounts. As the ATO requires that some expenses etc are broken down I would have thought that this function is "ESSENTIAL".  When can we expect to see this upgrade.

The ability to use sub accounts under headers should be a standard feature in any accounting software these days. It greatly enhances reporting options and flexibilty.