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