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MYOB Staff Post Erik_V
37 Posts
MYOB Staff Post
Erik_V
MYOB Staff Post

37Posts

67Kudos

0Solutions

Budget for success and compare your performance through simple-to-read profit & loss reports and graphs.

 

 

Working with budgets

 

First, you’ll want to set some goals by creating a budget – and getting started is easy.

 

You can create a budget for any period length (even across multiple financial years!), and you can create as many budgets as you need.

 

create budget 2.png

 

 

Entering your budget is a breeze. If you’ve been using Essentials for a while, you can import your totals from last year.

 

You can even export to Excel, work with your budget, and import back into Essentials with ease.

 

import.png

 

 

New Profit & Loss reporting and graphs

 

But what good is a budget if you can’t compare it to your business’s performance? The new Profit & Loss report makes it easy to track your financials against your budget or last year’s actuals.

 

profitloss_reports_page.png

 

 

Get the data you want by choosing whether you want to compare to your budget, last year’s actuals, or both.

 

profitloss_compare.png

 

 

Now’s the fun part – choosing how you want to display your data. The tabled report makes it easy to gauge your performance at a glance – showing your variance for each period.

 

report variance.png

 

 

If you're looking for a more visual comparison, choose the bar graph...

 

bar_graph.png

 

Or line graph display.

 

use this line_graph.png

 

To find the data that’s right for you, make a comparison between two or more categories by clicking the + Add Item button.

 

profitloss_reports_additem.png

 

 

To dig deeper into your graphs, hover over your bars or line points to see the dollar values for each category.

 

profitloss_hoverresults.png

 

 

What does "Beta" mean?

 

Any feature that has a Beta tag simply means we’ll continue building upon and improving your experience, based on your feedback. So let us know what you like and dislike by clicking "Let us know" at the top of your budget and Profit & Loss Beta pages.

4 Comments
Partner AlanT
1,108 Posts
Partner

@Erik_V

 

Hi Erik,

 

Thanks for the update.  I saw this last night and started to play with it.  It looks to be quite comprehensive however I came undone when I tried to Export the figures to Excel and then import them into a new budget.

 

If there is an error in the file that you are importing into a budget, you get a message that there is an error, but absolutely no assistance as to what the error is or where in the file.  This makes the error useless.  But it is typical of all Essential error messages.

 

I then tried exporting a CSV file and without opening it or changing it I imported it and still got an error message.

 

:-(

 

When you have prior year comparatives, the report is too complicated.  It is nice to have the variance column, but having the variance % just clutters the screen.  Could this column be optional?

 

If you are to have a % column, it would be of more help if each line was a % of the sales or total income.  As the ATO publish statistics for different industries and business owners need to be aware of their costs vs income, it would be a more useful comparison than just a % change.

 

I would like to be able to see just This Year, Last Year and Variance columns as an option for financial reporting as well as managment reports.

 

Thanks,

 

Alan

 

Partner AlanT
1,108 Posts
Partner

Hi Again,

 

I assume there will be an option to export the data to Excel or generate a PDF so that we can print the report?

 

Alan

MYOB Staff Post Erik_V
37 Posts
MYOB Staff Post

Hi @AlanT,

 

Thank you for the great feedback. Have you checked out our help page on importing budgets? It has some helpful tips on importing a CSV into your Essentials budget.

 

Because this is a beta we look to continually improve these features based on feedback like yours. If you haven't already, it would help us if you click the "Let us know" link at the top of the budget and profit & loss beta pages.

 

Let us know.png

 

Erik

Partner AlanT
1,108 Posts
Partner

@Erik_V

 

Hi Erik,

 

That option does not appear on the released version that I can see.

 

Are you able to call me?  I'll drop my number to you in a PM if that helps.

 

Alan