MYOB Accounting 2008 review

MYOB is an accounting package for small businesses.

The user interface is well designed and everything is controlled from a Command Centre window that has six main buttons. Clicking on each of these displays several options, organised into flowcharts to make it clear which tasks needs to be done first.

Entering transactions is straightforward. Paying a supplier, for example, involves writing an onscreen cheque. Displayed under the cheque are fields for categorising the purchase. MYOB lets you create new suppliers while filling out the cheque (rather than in a separate screen), but requires you either to remember a numeric code for each category or to pick the category from a pop-up dialog box. On the plus side, it remembers the last categories to be applied to a supplier. If a bill is typed in as unpaid, MYOB can remind you when it is due for payment. Companies sending out a lot of cheques can use the software to print directly on to special cheques.

Invoicing customers is a clear-cut process. There are fields for the salesperson's name, the delivery method to be used and a special message to the customer. There's a new spellchecker, and invoices can be batched ready for printing later on. A good invoice designer is provided, and MYOB can now show onscreen previews of invoices and other forms. To save money and time, invoices can be sent by email.

The software handles credit terms admirably, letting you choose the credit-worthiness of customers, set credit limits, give discounts for early payment and charge interest for late payment. Contact with customers can be logged and MYOB can track follow-up dates.

Reports can as exported as webpages or to Microsoft Excel. Helpfully, contacts can be synchronised with Outlook and mailing labels can be created within the software. You can also send data to an accountant by email or on a disc.

MYOB handles VAT well, whether the normal accrual VAT scheme or the VAT cash accounting scheme. At the end of a VAT quarter, the program will display and print a VAT return that can be transcribed for HM Revenue & Customs. However, there's no facility for online submission, unlike Sage Instant Accounts.

The built-in stock module integrates well into the invoicing and purchasing modules. A Count Stock option lets you make manual adjustments after a stock take.

Correcting mistakes has been made simple. Everything entered into MYOB is listed in a transaction journal that relates to the type of transaction (for example, purchases and sales journals). In each of these journals, clicking on an arrow to the side of each entry shows the original invoice, credit note and other information; these can then be altered directly.

MYOB Accounting is an excellent package for small businesses wanting to track their accounts. Like its main rival QuickBooks, it's easy to use but is less cluttered and more intuitive. Businesses needing a computerised payroll should consider the MYOB Accounting & MYOB Payroll bundle, which costs around £300.

Author: Alex Singleton