Setup: Add a budget
Hi Feedback from our clients tells us that many clients would like a simple budgeting feature. One suggestion was to enter in either a monthly, quarterly or yearly budgeted figure for each account and then areport to print at intervals to see how the actual expenses are comparing. "Budgeting"25KViews66likes34CommentsReport: Balance Sheet - Comparisons
It would be good to have the ability to generate a Balance Sheet and P&L that shows prior period comparative data within Live Accounts. If possible, the option to show additional columns such as $ movement or % movement would be helpful also. Most accountants would find this helpful in analyzing the performance of a business. "Balance sheet and Profit and Loss Comparatives"22KViews86likes24CommentsSetup: BAS Preparation
Hi there At the moment MyobLive doesn't seem to have much automated functionalityfor BAS. Given that the system already calcuates the BAS it seems really odd that the user has to manually create a spend journal or a reversal to allocate GST Paid, Collected, PAYG instalment etc, and also fill in the ATO forms. Surely this could all be automated, afterall it's the most confusing thing for small business and the one where MYOB already does much of the heavy lifting (in my case, the main reason for using the package in the first place). Df "BAS Preparation"19KViews101likes40CommentsReport: Profit and loss - This year/last year comparison
Hi, Is it possible to do This year/Last year comparison reports for P&L and Balance sheet in MYOB essentials? If not is this something that could be added or is there an upgrade that does this? "this year/last year comparison reports"13KViews79likes18CommentsAccounts list: Delete accounts
I was working with a client again setting up there chart of accounts To have to scroll to the top of the page to press the delete button is clunky, time consuming and not intuitive I would like to strongly sugesst that we can delete from the edit window which can be accessed by double clicking If others agree, please vote for this suggestions to get MYOB moving to improve the system even more! Thanks "Deleting Chart of Accounts lines with ease :-) - complaint and constructive suggestion!"12KViews12likes14CommentsReport: General ledger details - Include descriptions
Currently the General Ledger Report only shows descriptions for the Bank Accounts and has a blank spot on all other General Ledger Accounts. We need to be able to at least see a description on the General Ledger Report for ALL General Ledger Accounts otherwise we have to manually drill down into every transaction to ensure it has been coded to the correct General Ledger. This is a must for Accountants from an EOY perspective. Even better, it would be great if you could customise the General Ledger Report to add various fields such as Payees etc. Please can we get this basic information included ASAP!!! Thanks "GENERAL LEDGER REPORT - NEED DESCRIPTIONS!!! ASAP PLEASE"11KViews17likes16CommentsReport: Taxable payments annual report - Print report
There should be an option to print the taxable payments annual report that needs to be lodged with the ATO so that businesses can keep it for their records and in case they are audited by the ATO. "Taxable Payments Annual Report Printing"7.9KViews20likes11CommentsReport: Balance Sheet - Cash basis
Please include a report option for cash basis balance sheet. Xerodoes it. Ye at MYOB may think "we better not do it because our competitor does it" but it does make life simpler for us accountants. It will be a simple matter to generate the cash balance sheet: Start with accruals balance sheet Remove income items not yet paid from P&L income accounts and trade debtors Remove expense items not yet paid from P&L expense accounts and trade creditors Apply adjustments to retained earnings account in report The above method is probably already in use for the cash P&L. A lot of small businesses operate on a cash basis and there ends up a discrepancy when you use an accrual balance sheet and a cash profit and loss. The retained earnings account ends up different. It is also easier for small business owners to understand. "Cash Basis Balance sheet"7.1KViews32likes6CommentsReport: General ledger details - Cash basis
I understand that there aren't any current plans to update the Reports available in LiveAccounts in the near future. IPLEAD and BEG with you to make an exception to this and include; 1.Profit & Loss Report on a Cash Basis, and 2.Account Transactions on a Cash Basis LiveAccounts would be theperfect solution for several of my clients except for these missing reports & hence I am hesitant to recommend they subscribe. LiveAccounts is aimed at Small/Micro Business andthe majority of these run on a Cash Basis for GST reporting etc.. The reports requested above are integral in assisting the business owners with planning & Cashflow management. They are also extremely important inBAS & IAS reporting to verify information. Determination of Cash Profit & verifcation of same iscritical when determing variations to PAYG Instalments on a quarterly basis that some Accountants prefer/insist on to ensure a more accurate payment & reporting of PAYG obligations for the year, minimising the need for additional payments when the Tax Return is completed. My clients need to record their Bills & Saleson an Accrual basis so that at any given time they can look into the Cloud (LiveAccounts) & see what is due, therefore, it is not practical to run LiveAccounts entirely on a Cash basis just to obtain the Cash reports, which is the only way I can see that they could be produced as it stands. Please seriously consider including the above 2 requested Cash Basis reports in your next update. Thank you "Cash Basis reports (P&L and Account Transactions)"6.3KViews2likes5Comments