MYOB Progress Report

MYOB Implementation Progress Report

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As a consultant, you need a Progress Report to let your client know how much you have accomplished. This report I designed, it's a blank form, will help you keep track of your progress and your client informed as well. You can download this pdf file at Google Docs.

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Implementing MYOB Step by Step

If you're a consultant who needs to know on how to implement MYOB to your client; or a business owner who wants to use MYOB to aid you manage your financials, here's a step-by-step guide on how to implement MYOB.

Preparation

1. Install the software and register it online.
2. Create the company file and set the parameters.
3. Create the chart of accounts and enter the balances.
4. Activate MYOB and enable the license/s (if you bought more than one license).
5. Import the purchase and sale transactions of previous month/s.
6. Import the list of products and set the item prices and quantity on hand.
7. Import the list of customers and suppliers and set each parameters.
8. Customize the forms.
9. Enter the historical balances of accounts payable and receivable.
10. Set the security access and permissions.

Regular operations

1. Record the current purchases.
2. Record the current sales.
3. Record the receipts and deposits.
4. Record the disbursements.
5. Record other entries.
6. Reconcile the bank accounts.
7. Conduct an inventory count.
8. Print the reports; customize, if needed.
9. Backup.

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Implementing MYOB

I've been using MYOB since, I think, 1998. This is the accounting software that I recommend to my clients for the reason that it was the first on-the-shelf accounting software accepted and recognized by the BIR in the Philippines. That means, BIR recognizes the books or reports generated by MYOB. And if you're registering your company that utilizes a computerized accounting system, MYOB is acceptable.

In my experience, it is easier to implement MYOB if the users are adept both in accounting and technology. If not, that is the challenge. Training is not enough. You need to guide the users through their implementation stage because what is important is that MYOB must be able to generate reliable financial data. That's why my services include training and implementation. MYOB as a technology is useless if it cannot generate reliable financial data. This reliability depends on the completeness of data. It is not enough that the users only know how to operate the software, they should also know what data to enter and understand the significance of the data they are entering.

It is not easy to break or change what the users have been accustomed to practice with the manual accounting system. Most likely, they'd rather not use MYOB. Therefore it is important that the users understand that MYOB cannot adapt to their old practices, instead, they themselves should adapt to MYOB; and as necessarily, change or eliminate some procedures they would no longer need.

Some financial transactions are very unique to a company. This is a challenge to a MYOB consultant. He must be able to provide the client a solution, an alternative step, or a workaround. In order for a consultant to be able to give that solution, he must have an in-depth knowledge of the principles of accounting and a clear understanding of MYOB's system logic.