Business Events in MYOB Advanced

MYOB is focused on improving features and functionality and ease of use with every upgrade. In the 2018.1 release in MYOB Advanced, the added functionality of ‘Business Events’ has made a significate change to how businesses can operate. Every business has unique workflows and processes to drive both internal and external communication and actions. The Business Events feature can automate some of these day-to-day tasks. It has the ability to monitor specified data for changes and process certain actions as a result.

What can the Business Events feature do for your business?

This feature gives users the flexibility to support actions in a number of different scenarios.  Generally speaking, examples include notifying:

  • Customers that an invoice is outstanding and due for payment. A copy of the invoice could also be attached to the email sent
  • Staff that a shipment from a particular supplier has arrived
  • Staff that an outstanding customer balance greater than 60 days is now cleared
  • The production manager that the customer has paid their deposit and materials can now be ordered.

There are four key components when configuring Business Events

1. Create a Generic Inquiry used to monitor data

2. Determine how the data is to be monitored

– As records changed
– On a set schedule

3. Define the criteria for an action to occur

4. Specify the resulting action to take

– Issue a Notification (email or mobile)
– Using import scenarios to add or update records

Examples to help you use MYOB Business Events

In the following example, we will be using Business events to automatically email prospect information about your organisation once a lead is loaded into MYOB Advanced.

1. Create the Generic Inquiry

In MYOB Advanced, Leads are part of the Contacts Table. Aswell as this, we are also giving the User an option to specify if an introduction e-mail is to be sent, by way of a checkbox as an Attribute.

Following are some tips when creating Generic Inquiries for use with Business Events:

Reference only the required fields in the Generic Inquiry. These fields should include:

– Those fields used as part of the Notification email

– Include the Key Identifier fields of the tables used.

– All fields required to track the change in data.

  • Grouping should not be used in the Generic Inquiry
  • Do not use existing Primary List Generic Inquiries as a source of data for Business Events. These Generic Inquiries link to the underlying form and may impact on performance.  We suggest a simplified Generic Inquiry is used instead.
  • If monitoring attributes for data changes, reference the underlying CSAnswers table, not the [Attribute name]_Attribute field extensions you may find on some tables.

2. Create the Business Event that will send the notification to the Prospect

The type is set to “Trigger by Record Change”

  • The Raise Event is set to “For Each Record”
  • The Screen Name is referencing the Generic Inquiry created in Step 1
  • The trigger conditions are set to occur where
    • A new record is inserted or
    • Where the Send Intro Email checkbox is subsequently checked by the user (True = 1)

3. Select the Subscribers Tab

  • The Type is an email notification. Select ‘Create Subscriber’ to create a new Notification.

  • The Notification ID describes the purpose of the Notification
  • From refers to an email account from which the email should be sent from
  • To refers to the recipient of the email. In this case, the email address associated with the Prospect
  • The Screen name refers to the Generic Inquiry created in Step 1
  • If the Link to Contact is populated, a copy of the email created will be logged against the Lead’s record as an Activity.

When a new lead is created and the option to send an introductory e-mail is selected, the Prospect will now receive an email containing additional information about your company.

Making the most out of your MYOB Advanced software

Interested in more ways to optimise your software? We have prepared numerous tips and tricks that you may find useful in order to maximise MYOB Advanced potential! Visit our blogs below or feel free to contact us if you have any questions at all.

Alternatively, for a comprehensive overview of all of our best MYOB Advanced ‘hacks’ in one place, you can download our PDF – The Ultimate Compilations of Tips and Tricks!

If you are interested in learning more about Business Events and how they could potentially be used in your business, contact Kilimanjaro Support at 1300 857 464 or email us at [email protected]

Fixed Assets in MYOB Advanced

Fixed Assets Management in MYOB Advanced (powered by Acumatica) makes it easier to manage company assets and provides complete visibility and depreciation calculations. You can include your assets into your reporting directly from your accounts payable purchases, imported from an existing file or individually. The MYOB Advanced Fixed Assets module can support you in many ways. The newest version of MYOB Advanced saw the completion of the long-awaited additions to Fixed Assets module. Therefore, this release adds functionality by completing work on the diminishing value and prime cost/straight-line depreciation methods for the Aust and NZ jurisdictions. And so, we will take you through some of the new features and how to access these in your system.

Two new calculation methods are now available for the Australian jurisdiction:

          1. Australian Prime Cost

          2. Australian Diminishing Method

It is also now possible to define the percentage calculation of depreciation on the following levels per:

  • Depreciation method

  • Fixed Asset Class

  • Fixed Asset (individually)

Furthermore, with the new depreciation methods, the following attributes are improvements on the old behaviour:

  • Depreciation amounts are calculated on a per-day basis, which means that the calculation for a 31-day month is slightly more than for a month with 30 or fewer days.

Let us illustrate this with an example: An Asset with Acquisition Cost of $12000 was purchased and Placed in Service on 31.03.2020 with a useful life of 1 year.
For each period of an asset’s useful life, depreciation is calculated based on the following formula.

D = Depr. Base * (Percent per Year / 100) * (N / 365)

where

  • N: The exact number of days the asset is held in the fiscal period. The number of days held is calculated as follows for the listed periods:
    • The first depreciation period that is specified for the book (Depr. From Period): Last day of the period – Placed-in-Service Date + 1
    • The disposal period: Disposal Date – First date of the period + 1
    • All other periods: Length of the period in days

In our example, the formula calculates the following depreciation for the first three months of assets life:

  • March 2020 Depr Base 12000*(100%/100)*(1 day/365)=32.88
  • April 2020 Depr Base 12000*(100%/100)*(30/365)=986.30
  • May 2020 Depr Base 12000*(100%/100)*(31/365)=1019.88

The same calculated depreciation amounts can be seen on the Depreciation History tab of the asset:

The pre-2020 versions Straight-Line Depreciation Calculation Method calculates the monthly depreciation to be $1000 for all full months regardless of if the month was 28, 29, 30 or 31 days as seen below:

  • We now need to consider leap years. A leap year calculation is slightly higher than a non-leap year

  • The calculation for depreciation per asset is done by changing the Depreciation percentage value

Therefore, the Fixed Asset class can then be used on a Fixed Asset, with the percentage value defaulting based on what the Fixed Asset class has set. This value can change on an asset-by-asset basis, or a book-by-book basis for each asset.

MYOB is constantly looking to improve the user experience and the software itself within MYOB Advanced. Thus, the latest release, 2020.1, introduces Employee Self Service features, and more extensive features to the Payroll module. For more information about the new Employer Self Service Portal, read here (link to our new article).

This release also includes updates to Bank Feeds and Fixed Asset features and resolves issues identified in previous releases. Therefore, for more information, visit our page here to learn about MYOB Advanced Version Release History.

Interested in other ways to optimise MYOB Advanced? If so, we have prepared numerous MYOB Advanced Tips and Tricks to ensure you are making the most out of your system. Learn more about:

Alternatively, for a comprehensive overview of all of our best MYOB Advanced ‘hacks’ in one place, you can download our PDF – The Ultimate Compilations of Tips and Tricks!

Questions about using the MYOB Advanced 2020.1?

If so, feel free to email us on [email protected] or give us a call on 1300 857 464, we’re happy to help!

ezyCollect Payment Writeback in MYOB Advanced

Accounts receivable platform, ezyCollect, has announced its latest service offering to MYOB Advanced users: Payment Writeback. Now, any online payments accepted via ezyCollect’s payment portal are automatically allocated to both invoices and sales orders in MYOB Advanced (powered by Acumatica)*.

“The potential time saving here is significant,” says Kilimanjaro’s Stephen Friend. “AR staff will no longer need to manually search for payments, then allocate them one-by-one. This is a great opportunity to eliminate a tedious task that is susceptible to human error.”

How does ezyCollect Payment Writeback work?

ezyCollect integrates with MYOB Advanced to improve accounts receivable efficiency in medium to large organisations. (We’ve previously written about ezyCollect late payments solution here.)

With ezyCollect’s online payment portal, you can add a Pay Now button to your digital sales orders, invoices and ezyCollect’s automated reminders. Your communications get an instant upgrade with this seamless opportunity for customers to click and pay immediately.

Inside their ezyCollect payment portal, your customers can view all of their open invoices, and pay multiple invoices in full or in part.

Below, you can see that our example customer has four open invoices and is paying two invoices in full, and making a partial payment on one invoice.

From there, your customers complete a simple online checkout process to pay immediately with a credit card. As it is a self-serve portal, your customers can complete this independently. You could be closed for business, but it is still collecting money!

Here’s where the payment writeback magic happens:

Once a credit card payment has been approved, you’ll be able to see the payment allocated in MYOB Advanced.

  1. Go to Receivables in your left-hand menu
  2. Click on Payments and Applications
  3. The latest payments are listed chronologically

You can see the payment in the example above is at the top of the list and has a Closed status:

To see the details of this payment, simply click on the Reference Nbr hyperlink.

In our example, you can see a listing for each of the three invoices that were paid, including the balance of each:

For further detail on each invoice, click on their Reference Nbr hyperlink. An invoice that is paid in full has a ‘Closed’ status. An invoice with a balance remaining has an ‘Open’ status.

For example invoice 001168, below is now closed as it was paid in full.

If the payment has been made against a Sales Order it will come across as a Pre-Payment.’. When created, the subsequent invoice will automatically have the payment allocated to it saving time and minimising the risk of errors on the application.

While the online payment solution explained here has full functionality when used in conjunction with ezyCollect’s workflow for automated invoice reminders, MYOB Advanced users can use ezyCollect’s free payment portal on its own for a basic online collections system.

* The functionality described here relates to MYOB Advanced version 2019.1 or newer

For more information, contact us to arrange a one-on-one demonstration of ezyCollect’s online payment feature.

Highlights from the MYOB Advanced User Groups

Kilimanjaro is proud to support our clients in all aspects of their Advanced journey, including training materials and ongoing support. We also encourage users to attend helpful events where we share our insights and information about the product. This year, Kilimanjaro were sponsors of the very first MYOB Advanced User Groups. The events provided the opportunity for all users, (or anyone seeking a more complex ERP system) to get together, learn helpful tips and tricks and share thought leadership to improve business efficiency.

These half-day events were held during September and October, in Melbourne, Canberra, Sydney and Auckland NZ. The events guide users to maximise the software’s potential and assist their businesses to improve efficiency.

Missed out? Here are some key takeaways from the Sept-Oct 2019 events.

1. The Benefits of MYOB Advanced Upgrades

MYOB regularly releases updates to MYOB Advanced (powered by Acumatica) so that users can benefit from improved functionality. With this in mind, we previewed the latest 2019.1 update at the User Groups, with exciting functionality including:

  • Significant new features within Generic Inquiries to improve reporting and visibility of information throughout the system. This customisation is also available to the list view of entities/records that is available.
  • A new company/branch selector menu
  • Improvements to colour scheme to enable different colour selection across Companies and Branches.
  • New Warehouse Management System (WMS) functionality within the MYOB Advanced mobile app.

New releases always include some exciting new functionality. To find out more about 2019.1, visit our MYOB Advanced version release history here. Alternatively, you can give us a call to discuss how to make the most out of the newest version.

2. e-Invoicing and reducing laborious manual processes

An e-invoicing initiative was announced by both the Australian and New Zealand governments in February 2019.  It is estimated it will save businesses approximately $30 billion in transaction costs in the first 10 years.

As a government-sponsored initiative, we can expect grassroots support from a range of ERP and accounting systems vendors. A world with significantly reduced manual data entry and paper is something we can all celebrate.

MYOB Advanced is well suited to comply with this new initiative, once it gets going. Thus, we look forward to the efficiencies and additional value this will bring to MYOB Advanced users.

The desire for efficiency was a consistent theme across the User Groups, with many success stories focusing on automation and integration. Any manual processes in place within a business presents an opportunity for business process improvement.

3. Improved financial reporting through Velixo

There are many opportunities for us all to improve the visibility of information and reporting available within our businesses. One of the areas we regularly hear needs improving is financial and board reporting.

Operating within Microsoft Excel, Velixo is a General Ledger and project reporting tool that is fully integrated with MYOB Advanced. It provides MYOB Advanced users flexible financial reporting at their fingertips with the ease of familiar tools. The Velixo Excel® add on provides more than 45 functions to pull through general ledger and project data from MYOB Advanced.

4. Ensuring MYOB Advanced evolves with your business

A common theme at the MYOB Advanced User Groups was a lack of awareness of many features within the software. This is often due to insufficient training. A significant reduction of knowledge and efficiency comes with staff changes, leading to frustration for users. For this reason. we strongly recommend ongoing training to ensure that MYOB Advanced is being fully utilised by all users.

Kilimanjaro provides training to fit every business’s individual requirements. To find out more about our range of Training alternatives, check out our training options here.

Particularly if your business is evolving, consider engaging Kilimanjaro for a business process improvement project. Kilimanjaro’s Business Process Improvement methodology begins with an on-site visit to ensure a collaborative approach and to identify your own goals and objectives. Finally, we always use industry best practice when putting process improvements in place.

Why MYOB Software is Not Only For Small Companies

Brief History of MYOB

MYOB software had its origins in the late 1990s during the time when GST was about to place a huge administrative burden on small companies in Australia. The reporting requirements meant that without accurate accounts, a company would not be able to comply with the GST legislation. This encouraged large numbers of small businesses to move from paper-based systems to computerised accounting. This coincided with the fear of the Y2K bug. Consequently, businesses moved into a new era of computerisation or upgraded their existing systems.

MYOB was at the forefront of this wave, having developed software for small Australian businesses. Not only was MYOB’s software easy to use, but it cut through accounting jargon by converting debtors and creditors to “spend money” and “receive money”. This meant that you no longer had to be an accountant to keep books for your small business. MYOB developed a deep understanding of how small Australian businesses work. The software was localised, meaning that the language and the business processes used were in line with conventional Australian practices. Because their products were tailored to an Australian market, MYOB was compliant with all taxation requirements, including GST.

Progression of MYOB software

MYOB continued to develop the software and a pathway evolved for businesses to easily migrate from the basic versions to the more complex versions of MYOB. A business would be able to move from MYOB Business Basics to Account Right Standard, Account Right Premier and Account Right Enterprise. As internet connectivity and speeds improved, MYOB took advantage of this. They developed products that leveraged off the power of the cloud. Products such as Live Accounts and Account Right Live were introduced into the market.

MYOB is regularly in touch and connected with their users. As users requested more functionality, the products became more complex and robust. The “top of the range” product became MYOB Account Right Enterprise which allowed multiple users to access the software at the same time.

Software constraints were not going to prevent Australian entrepreneurs from growing. As businesses grew and became more complex, so did their software requirements. In 2004, MYOB acquired Solution 6. This was the start of its journey into software for larger, more complex organisations. The existing MYOB business software provided solutions for small to medium-sized businesses. The focus then expanded to include medium to large businesses which is where MYOB ERP came in. Enterprise Resource Planning (ERP) refers to software that organisations use to manage day-to-day business activities. Nowadays, a complete MYOB ERP suite includes enterprise performance management, software that helps; plan, budget, predict and report on an organisation’s financial results.

Transition Phases

As businesses grow, they go through several phases. We call the first phase the start-up phase. The accounting requirements in this phase are fairly basic. Following establishing a business, the accounting requirements need to cope with increasing transactional volumes and provide reporting to management for decision-making purposes. Tax compliance is essential in all phases of a business’ growth.

Once a business reaches a turnover of about $6m a year, or about 20 employees, it undergoes quite a dramatic transition. In this first transition, reporting and financial control become important (as opposed to bookkeeping or accounting). As soon as a financial controller or finance manager is appointed to the team, the nature of the software used needs to change. Not only is the business looking at their financials, but they are also looking at non-financial indicators. Directors or managers need to understand the financial impact of their actions and at the same time, legal compliance must be maintained. It is at about this point that companies would look for an ERP system as opposed to an accounting system.

The second major transition is when the company has grown to the point where multiple people are doing multiple tasks. There is a separation or segregation of duties. For example, the accounts function now splits into Accounts Payable and Accounts Receivable. A person may be responsible for raising purchase orders, but another person would be responsible for approving them, and a third person responsible for receipting them. This segregation of duties and responsibilities is embedded in larger software systems. Small companies cannot operate using these systems as one person is still performing multiple functions.

When looking at MYOB’s portfolio for medium to larger businesses, you will find a range of MYOB ERP solutions that suits every business size and type.

which MYOB ERP software is right for my business?

MYOB Advanced for Larger Companies

Companies that are moving towards, or have moved into this separation or segregation of duties phase, would be well advised to look at cloud-based ERP, MYOB Advanced. An example is our client Museum of Australian Democracy, who found the system to be the perfect fit for them. MYOB Advanced has a sophisticated general ledger system with many segments to suit the requirements of every organisation. It allows multiple profit and loss statements and balance sheets at a branch or tenant level. This MYOB ERP can deal with both multiple entities and consolidation of these. Find out more about how MYOB Advanced can streamline your financials here.

This is true Tier 2 software and requires an experienced finance team to get the best out of it. It is software as a service (SaaS), browser-based, and sold on a subscription model with a monthly fee per user. MYOB Advanced has the benefit of MYOB’s heritage, localisation, backing and support and technical development. It is a strong contender for any larger company looking for a robust ERP or accounting solution.

MYOB Exo for medium to large companies

Having the vision to grow your business is one thing, but having the tools to do it is essential. If you are not ready for a cloud-based product or prefer to have your own system hosted, have a look at MYOB Exo, a highly configurable business management solution that allows you to centralise all your business processes in one place. MYOB Exo provides greater insight into all facets of your operations, along with more control. This MYOB ERP solution has the flexibility to grow with your business. You can view and analyse inventory management, job or projects costings, HR, Payroll and every other aspect of your operations, giving you the information required to make better business decisions.

Moving to MYOB ERP

As your company processes become more complex, you might feel as though your current accounting software is limiting your business.  Moving from off-the-shelf software such as MYOB AccountRight or similar accounting products is a fundamental step to take your business to the next level.

MYOB Exo is an ERP software for growing businesses. Its flexibility and SQL back-end allows it to be seamlessly integrated with other solution you might already have in your company. Your business can also connect with many Cloud-based add-on solutions. These products can easily expand the specific functionality your business need.

For more information, read the key differences between MYOB Exo and MYOB Advanced here.

If you want to know more about MYOB ERP, including MYOB Exo or MYOB Advanced and how it can help grow your business, call us on 1300 857 464 or simply fill out the contact form below and we will have one of our MYOB Specialists have a chat with you. To continue reading about the products, download the free PDF downloads below.

Row-Level Security in MYOB Advanced

MYOB Advanced (powered by Acumatica) is a cloud-based system that you can access remotely, anytime, anywhere. With this comes the need for complex security and permissions. Make sure your data is accessible but most importantly safe. Security features such as 2FA (2-factor authentication) was rolled out recently and are now automatically part of the login system. Another important feature that is often overlooked or simply not recognised is Row-Level Security.

What is Row-Level Security in MYOB Advanced?

Row-level security allows users to control the visibility of certain data to certain users. It is an under-utilised feature of MYOB Advanced that can be used to apply more complex security policies using restriction groups. A restriction group is a set of entities of two or more types that you can define to either:

  • Restrict employees’ visibility of sensitive data within MYOB Advanced
  • Relate particular entities to each other to only use them together

Row-Level Security scenarios within MYOB Advanced:

Users and General Ledger accounts

With these restriction groups, sensitive General Ledger accounts can be made visible to a limited number of MYOB Advanced users. For example, Executive Salaries & Wages can be restricted to Senior Accountants or higher.

Users and subaccounts

Similar to groups that include users and General Ledger accounts, you can limit the visibility of sensitive subaccounts to the user. For example, MYOB Advanced users belonging to a particular state may be restricted to subaccounts that relate to that state only.

Users and vendor accounts

You can define these restriction groups to make particular vendors visible in the system to users who work with these vendors. For example, non-stock suppliers can be restricted to administration users.

Users and customer accounts

With these restriction groups, MYOB Advanced users can make particular customers visible to only employees who work with these customers. For example, high-value customers can be locked to account managers.

Users and GL budget articles

MYOB Advanced users can limit the visibility of sensitive budget articles so that only particular users can see and work with these articles. For example, budgets detailing Executive related data can be restricted to Senior Finance staff.

Users and warehouses

You can create restriction groups to display a particular warehouse (or set of warehouses) for only users who work with this warehouse (or this set of warehouses). For example, MYOB Advanced users at the Brisbane warehouse can be restricted to seeing their own warehouse only.

Users and inventory items

You can define these restriction groups to reduce the number of items in the lists with inventory items, depending on the particular user logged in to the system. For example, items designated as exclusive may be restricted to key MYOB Advanced users.

Users and projects

These restriction groups will configure the visibility of particular projects only to a responsible project team. For example, Commercial projects can be made available to the Commercial Projects team only.

Branches, General Ledger accounts, and users

This is a 3-way grouping, useful where multiple companies that are different in nature exist in the same tenant. General Ledger accounts can be restricted to a company for specific users. For example, a Trust company that will never sell stock can be locked from posting to Stock on Hand for all MYOB Advanced users.

Branches, subaccounts, and users

This is another 3-way grouping to restrict subaccounts to a company and user combination. For example, the external accountant may be restricted to posting to balance sheet accounts and certain expense/income accounts.

Branches and cash accounts

If there are multiple companies in your tenant, with these restriction groups, you can allow users in each company to work with only branch-specific cash accounts. For example, Cash Accounts for company B can be locked to prevent transactions in Company A from allocation.

General Ledger Accounts and Subaccounts

If you have subaccounts that MYOB Advanced users must use only with particular General Ledger accounts, by defining these restriction groups, you can set up lists of available subaccounts for each General Ledger account. For example, if subaccounts were created for each motor vehicle, these can be restricted to motor vehicles expenses.

If any of these Row-Level Security scenarios would benefit your businesses using MYOB Advanced, give Kilimanjaro Consulting a call. We can help you configure the correct features. If you would like some help in discussing the best set up to match your system and requirements, we can talk you through this and provide some trusted advice. Give us a call on 1300 857464 to discuss more.

Interested in other ways to optimise MYOB Advanced? Check out our handy MYOB Advanced Tips and Tricks blogs. Learn more about generating statements on demand here or how to use the new interface here.

Alternatively, for a comprehensive overview of all of our best MYOB Advanced ‘hacks’ in one place, you can download our PDF – The Ultimate Compilations of Tips and Tricks!

MYOB Advanced & Excel

Regardless of how much time, resources and money you invest in your ERP implementation, Microsoft ® Excel will always have a place in your organisation. Hence, MS Excel® is a fantastic tool for entering, calculating and analysing financial data. Rather than try to replace it, it makes sense to harness the full power of MS Excel®.

MYOB Advanced (powered by Acumatica) is fully integrated into MS Excel®, therefore, it has a range of inbuilt functions that can save time and money for your organisation.

Easily upload records to MYOB Advanced

Data in MS Excel® or CSV format can be uploaded as line records into transactions such as bills, journals, etc. Transactions with fixed or complex allocations can be prepared in MS Excel® using a predefined template, for example, to apportion expenses.

Benefits: Fast track data entry while minimising data entry errors.

Export records

Line records within transaction or inquiry screens can be instantly extracted for analysis using the Export to Excel button. A file with all the visible fields on the grid including the headers and parameters used is created in xlsx format to solve common queries.

Benefits: Simple to use context-sensitive reporting. This file can subsequently be used as a source for importing data.

 

MYOB Advanced and Excel 3

 

Import scenario

The Import Scenario function allows users to synchronise data between MS Excel® and MYOB Advanced. Import scenarios are commonly used to load master files and transactions. Or, to manipulate existing data in bulk like changing terms on a range of customers. Fields between the spreadsheet and the data in MYOB Advanced are mapped accordingly. As data is imported, it is validated to preserve data integrity throughout the process.

Benefits: Eliminate time-consuming data entry and minimise data entry errors.

Export Scenario

Export Scenarios allow users to extract data from MYOB Advanced to MS Excel® in a user-defined format. Where a report or inquiry screen is missing needed information, an Export Scenario may be an ideal way to extract data without the need to build complex or expensive reports.

Benefits: Fast access to large amounts of customisable data to suit requirements.

Generic Inquiry

A Generic Inquiry is a tool that allows users to build intricate queries to isolate selected data for those without programming skills. As a result, generic inquiries can be used to filter, sort, calculate, aggregate and summarise data in list form which can be exported to MS Excel®.  To help you analyse and interpret important information captured in MYOB Advanced, consider our Generic Inquiry Writers Course.

Benefits: You can build sophisticated reports to suit requirements.

OData

Simply put, Odata (Open Data Protocol) is a live link between MYOB Advanced and MS Excel®. An OData feed in MS Excel® can seamlessly source data directly from MYOB Advanced using the framework of a Generic Inquiry. The spreadsheet can be refreshed to ensure data is always up to date with current information.

Benefits: Give users access to data without having to log into MYOB Advanced thus saving user licence numbers. Reports within Excel can be highly customised to include graphs & pivot tables without needing a working knowledge of MYOB Advanced.

Report Designer

In most organisations, it is common practice to run reports in their ERP. Open them in MS Excel® and, using a text to column wizard, separate the data into columns. This is because most report designs look “pretty” on paper, screen or PDF. They are not necessarily built to be opened in MS Excel®.

Benefits: The Report Designer in MYOB Advanced eliminates the time consuming & repetitive process by allowing users to embed the column structure within the report that is only called upon when it is pushed to MS Excel®.

Need fast access to data, want to cut down on time-consuming tasks or the ability to build sophisticated reports? Microsoft ® Excel and MYOB Advanced are a perfect pair.

Velixo

Velixo was built from the ground up for MYOB Advanced, by MYOB experts. Their reports are the only reporting tool of its kind designed exclusively for MYOB Advanced. Above all, Velixo used their extensive experience with MYOB to craft a user-friendly MS Excel® plugin. Finally, it is lightning fast and leverages the unique capabilities of your cloud ERP.

Contact us today for more information about how MYOB Advanced is helping more and more growing businesses thrive.  Call us on 1300 857 464 or email on [email protected] to chat with our MYOB Specialists. 

MYOB Advanced – New User Interface

A year ago, the upgraded version of MYOB Advanced (powered by Acumatica) came with a new User Interface (UI) as an option. Some clients may have been reluctant at the time to use the new User Interface for a lack of familiarity. Other clients may have upgraded but are not aware of the finer details with the new User Interface.

This blog is to provide some tips and tricks with the new User Interface so that you get the best out of using MYOB Advanced. If you currently don’t have the new User Interface and would like it, please contact Kilimanjaro Consulting MYOB Advanced Support on 1300 857 464 .

MYOB Advanced New User Interface in 2020

In version 2020, the new User Interface will become mandatory. In preparation for this, you can switch to the new user interface by selecting the user ID located in the top right corner of the screen.

From the drop-down menu, select User Profile. MYOB Advanced displays the User Profile dialogue.

Disable the Show Classic UI by Default flag and save changes. MYOB Advanced will refresh the page with the new UI.

Any custom menu options in MYOB Advanced will need to be added to the new UI. Please contact us for assistance on [email protected].

What features are included in the MYOB Advanced New User Interface?

 1. Quick Menu

Can’t find a menu item which you think should be there?

Check the quick menu!

MYOB Advanced Tips n Tricks #2

To add/remove from the quick menu, go to settings in top right corner:

MYOB Advanced Tips n Tricks #2

Then tick boxes of the items you want in your quick menu, and Exit to view Quick Menu:

2. Favourites

As with prior versions, you can click on the stars to add menu items to your “Favourites” menu at the top.

So, if you have trouble finding a menu option, once you’ve found it click on the star and you’ll never have trouble finding it again.

MYOB Advanced Tips n Tricks #2

3. Pin to the Menu

If you use options under the “More Items” frequently, you may wish to pin these to the main menu. From then on it will stay in the first level of the menu on the left-hand side. Eg below pin the integration menu:

MYOB Advanced Tips n Tricks #2

4. Search

If you still can’t find something, search for it.

MYOB Advanced Tips n Tricks #2

5. Add new item to the menu

Click on Edit Menu

Select a menu item eg Finance and then select + Add Menu Item

MYOB Advanced Tips n Tricks #2

Find relevant menu items, tick, then select Add and Close.

MYOB Advanced Tips n Tricks #2

6. Minimise the menu

Click on < to minimise the menu and release even more real estate to work with.

MYOB Advanced Tips n Tricks #2MYOB Advanced Tips n Tricks #2

MYOB Advanced Tips and Tricks

For further guidance regarding your MYOB Advanced, check out our other useful Tips and Tricks!

MYOB Advanced Tips and Tricks #1 – Generating Statements on Demand

We hope these tips and tricks were helpful to you! Remember, if you have any questions about the new User Interface or in general our friendly MYOB Advanced team is always here to help. Call us on 1300 857 464 or send us an email.

Alternatively, for a comprehensive overview of all of our best MYOB Advanced ‘hacks’ in one place, you can download our PDF – The Ultimate Compilations of Tips and Tricks!

Slicing and Dicing your Financials in MYOB Advanced

MYOB Advanced (powered by Acumatica) is Australia’s number one fully featured business management cloud ERP. Therefore, you can make your ERP system work for you with easily customisable and visually-compelling reports. The General Ledger of any ERP is the primary accounting record for all businesses. Generally, how that data is structured and presented differs between the various ERP packages on the market. Here are just some of the features and benefits of MYOB Advanced General Ledger for analysis purposes. In contrast, few other systems on the market have this depth and complexity available in their General Ledger.

MYOB Advanced – Consolidations

The MYOB Advanced General Ledger can save you countless hours working on complex spreadsheets by fast-tracking your consolidation process. What benefits will you gain with MYOB Advanced?

  • Able to easily consolidate data with multiple entities (regardless of different currency or account structure)
  • Allows you to upload account balances from consolidation units to a parent company at the click of a button
  • Consolidation process can be triggered as often as required within each financial period
  • Consolidation process can be automated
  • Provides access to account mapping from the unit to parent, on a one-to-one or many-to-one basis. Mapping can differ between each consolidation unit
  • Consolidation unit translates the balances to the base currency of the parent company, prior to synchronisation.

MYOB Advanced: Branches

  • You can deploy branches within MYOB Advanced in various ways. For example, the standard approach is to utilise Branches as the traditional cost centre, department, profit centre or location. Alternatively, companies can be defined as branches within a group of companies where the base currency and financial periods are identical. Additionally, Master File records such as customers, suppliers and the chart of accounts can be “shared” across all branches within the group. All transactions are tagged with a branch, supporting the ability to report at the branch level or group level, across all modules.

Branches in MYOB Advanced will give you the benefits of:

  • Saving time preparing journals and reconciling loan accounts between companies, by rather using automatic inter-branch journals that are triggered when a transaction is posted to more than one branch
  • Gaining efficiencies by creating a Master File record once, (customer, supplier or Chart of accounts), and giving access to t to all or selected branches.

MYOB Advanced – Chart of accounts

A well thought out Chart of Accounts in MYOB Advanced can grow with your organisation and streamline your reporting processes.  In this case, you are able to:

  • Customise the structure of your accounts to suit your requirements and enhance reporting
  • Incorporate segments within the account code, as they are user-defined alphanumeric values
  • Group accounts by Type and Class
  • Filter fields to simplify inquiries and reports associated with General Ledger Accounts

MYOB Advanced – Sub Account

Sub-accounts add a meaningful layer of detail to financial information enabling users to analyse data at the most detailed level. Benefits include:

  • Sub-accounts can be up to 30 alpha-numeric characters long with optional segments equating to a countless number of dimensions
  • Sub-accounts can be a defined list, validating transactions as they are entered, or can be entered “on-the-fly”
  • Reports incorporating sub-account information can give you the level of detail to support decision making to improve efficiencies in your organisation
  • Reports and Inquiry screens data based on the entire sub-account or segments within the sub-account

MYOB Advanced – Analytical Reports

Analytical reports are helpful to generate financial statements based on General Ledger data.

In essence, reporting is limited only by your imagination. Using analytical reports, you are able to:

  • Design reports around your organisation hierarchy, chart of accounts and sub-account segment structures
  • Create, for example, a Balance Sheet with comparatives for the past 2 years.
  • Create, for example, a Profit & Loss for Actual and Budget values for the last 3 months and include calculations to display the variance in dollars and as a percentage.
  • Generate reports to the screen in ©Excel or PDF

MYOB Advanced has been designed to meet the demanding needs of larger, more complex businesses. You can make your ERP system work for you even more with easily customisable and visually-compelling reports on sales, forms, invoices and more. By using a combination of some or all the above features, MYOB Advanced can meet the reporting requirements of even the most complex organisations and company structures. Another great way to learn more other handy tips and tricks about MYOB Advanced and reporting, visit another one of our posts.

Above all, if you are interested in MYOB Advanced and how its reporting capabilities are able to improve efficiency in your business, contact us today for a free non-obligatory chat with one of our MYOB specialists and we can discuss your unique business requirements. Alternatively, upskill yourself with our specialised training.

Chugg Entertainment

One of the greatest benefits of our role as MYOB implementers and specialists is seeing how businesses grow, improve and succeed with the right ERP system in place. It was a pleasure implementing MYOB Advanced for Chugg Entertainment and gives us a sense of satisfaction knowing that their systems, accessibility and overall performance have improved.

MYOB Advanced for Chugg Entertainment

Who is Chugg Entertainment?

Chugg Entertainment is an Australian-based global company with a legacy of over 50 years in the music industry. Operating in the entertainment industry, they take pride in developing an artist’s career internationally through innovative promotions, tours and special events. Ever heard of Robbie Williams, Coldplay, Bob Dylan, Radiohead or Dolly Parton? Chugg Entertainment has worked with all of these internationally recognised artists and more around Australia, NZ and Asia.

What problems was Chugg experiencing?

Chugg Entertainment needed a system that was going to give them full control and oversight over their high-calibre events.  Kilimanjaro quickly recognised that the Chugg Entertainment team worked in a fast paced environment with some of the world’s biggest musical acts. This meant they needed to have complete control and absolute confidence in their systems. Dealing with so many individual events each year, Chugg found that they had outgrown their accounting system,  MYOB AccountRight. Their business needs were changing which required a more complex system. They needed a solution that would offer project accounting for their tours and simultaneously reduce manual data entry. After assessing the needs,  Kilimanjaro felt confident that MYOB Advanced would be a great solution to overcome the challenges.

Tailoring MYOB Advanced to  Chugg Entertainment’s needs

It was clear that Chugg needed a system that would be able to handle their current and future needs, giving them full visibility and instant access, even remotely. MYOB Advanced is designed for dynamic businesses, allowing users to update reports and monitor accounts 24/7.  Therefore, Chugg is now able to access data quickly and easily, saving time previously wasted on entering data multiple times. This means more time to concentrate on running their business. Chugg’s business requirements, like all others, is specific to its unique way of doing business. Hence, the biggest challenge was to provide real-time reporting to external parties. Because of this, Kilimanjaro created a customised solution allowing data to be fed to Excel. Kilimanjaro created automated Inter Company Journals, which reduced manual data entry.

The Kilimanjaro Team are proud to have worked with such a successful business and to have crafted a solution to meet the demands of their growth. We were able to work with Chugg to identify specific and complex requirements,  and to then design a practical solution. The implementation of MYOB Advanced for Chugg Entertainment has ultimately saved Chugg a huge amount of time and effort. They have confidence in both the financial and operational aspects of MYOB Advanced. Above all, the team at Chugg can now operate on a world-class level and deliver the best services to their world-class stars.

Overall, it is vitally important to have a trusted partner who can guide you on your implementation journey. Download the detailed case study to learn more or contact us to learn how your business can benefit from implementing a new ERP system. For more examples about how ERP can transform your business, visit our case study page here.

Making the Transition from MYOB AccountRight to MYOB Exo or MYOB Advanced

Editors Note: This article was originally published in May 2013. It has been reviewed and updated to provide the most relevant and accurate information. Please enjoy this article and feel free to share your feedback with us.

If we think back to the late 1990s, many businesses were moving receipts from shoeboxes and carbon invoice books to a foreign interface where they had to learn about debtors, creditors and general ledger. The natural progression for the larger, more complex businesses was their journey to use complete and fully integrated financial and business management software such as MYOB Exo.

The transition from small financial software to a more complex but better equipped ERP software is often a consideration for managers or business owners. This is usually when they feel the company has come to a stage where the processes become more complex and challenging to manage. The old software no longer supports the company to a satisfactory level. Therefore there is more hassle than the actual benefit of using the current software.

Upgrading from MYOB Premier or AccountRight

One of the decisions to move from MYOB Premier or MYOB AccountRight to another MYOB suite of products like MYOB Exo or MYOB Advanced is the lack of specific functionality and controls in these less complex product suites.

Not only is lack of functionality a reason to upgrade to MYOB Exo or MYOB Advanced but MYOB is also introducing a change to the pricing model of MYOB AccountRight Live.

MYOB AccountRight Live has moved to a SaaS model and invoiced monthly. Account RightLive Premier version allows two entities per licence. To save on your license fees, consider using a site that is built to handle many entities in one, such as MYOB Advanced.

MYOB AccountRight Classic v19 (MYOB Premier) does not support Single Touch Payroll (STP), whereas MYOB Exo Payroll and MYOB Advanced People do.

If you are already using MYOB AccountRight Enterprise, there is even more imperative to switch.

Once businesses are ready to accept the changes, they learn to love some of the differences between the AccountRight suite and MYOB Exo or MYOB Advanced

Transition from MYOB AccountRright to MYOB Exo or MYOB Advanced

MYOB Exo vs MYOB Advanced: What you should consider

MYOB Exo is mature ERP software in the MYOB products family. It is a complete, integrated financial and business management system. MYOB Exo consists of various modules which support finance, job costing, fixed assets, point of sales, customers relationship management, consolidation and intercompany reporting. MYOB Exo is an Australian software made and designed for Australian businesses to help them succeed.  It can be both on-premise or hosted. Find out the difference between Hosted vs SaaS here.

MYOB Advanced (powered by Acumatica) is relatively new and is SaaS (Software as a Service). As such, it is cloud-based but still gives a business the ability to configure and customize. With broad functionality for larger Tier 3 and Tier 2 businesses, the real strength of this software lies in its General Ledger functionality.

Making the transition from MYOB AccountRight to MYOB Exo or MYOB Advanced allows you to stay with the same software provider but gives you the ability to access more functionality and features to support your growing business.

Let’s have a look at MYOB Exo vs MYOB Advanced and the key differences that you may consider useful to know for your company.

Auditability – Full audit trail

The inability to edit recorded financial transactions was a feature not favoured by many new users. Yes, it’s a feature, not a design flaw. When we wight up MYOB Exo vs MYOB Advanced, a true audit trail for transactions impacting your profit and loss and balance sheets is provided. Your auditors and accountants love this. Users may find this frustrating at first, but it is something you get used to, and the bonus is that you can be sure that the printed/emailed invoice that your customer holds is the same that your accounting system holds. There is some flexibility around this issue and should be discussed in detail with your MYOB consultant.

Period Based Accounting

You’ve probably never really noticed it, but running reports in MYOB AccountRight relies on date selection. With MYOB Exo or Advanced, you can run most reports by Periods. Some reports also allow for date selection in addition to periods. Periods are defined by date range, and you have the flexibility to create as many financial periods in a year as you require. You can post back to prior periods, regardless of the transaction date, thus ensuring that your revenue occurs in the same period as your expense if revenue matching is required.

Reporting functions in MYOB Exo vs MYOB Advanced

When comparing the reporting suite found in AccountRight vs that in Exo and Advanced, you can see that the latter are far more extensive and customisable.

MYOB Exo comes with around 400 standard reports. Most of which are customisable using the inbuilt report writer and many will need tweaking to your specific business requirements. The G/L reports come with a report writer. This is easy to use and doesn’t require in-depth knowledge of the underlying database. Dashboards and widgets are available and can be configured to show critical reports all in one place.  Sales Analysis Designer and SSRS  (SQL Server Reporting Services) Reports providing even more functionality.

The Sales Analysis Designer is a popular reporting tool, as it allows for slicing and dicing your data without requiring report writing skills.

MYOB Advanced has several reporting options from inbuilt report writers, GL report writers, screen enquiries, dashboards, and Pivot Tables!

OData feeds and PowerBI integration provide further reporting options.  However, when looking at Exo vs Advanced, only MYOB Advanced gives you full functionality from any device, anytime anywhere.

On-Screen, enquiries are becoming a standard way to report within ERP’s rather than having to run reports to screen. Kilimanjaro Consulting offers courses on report writing for both MYOB Exo and MYOB Advanced.

As an MYOB Exo user, here are some features you won’t be able to live without:

MYOB Exo Grids – Copy to clipboard or ODBC Links

Most of the data on Exo screens can be copied and pasted into Excel. The possibilities from there are endless! If you are using MYOB AccountRight, then you are missing out on this feature. Also, you can link Microsoft Excel directly to the database. Click on “Refresh Data”, and your favourite report has the latest info.

Ability to have multiple Transactions Screens open at one time

MYOB Exo Users can have multiple invoices/sales orders/purchase orders open or in progress at the same time, allowing you to multitask more effectively. Users may have found it limiting in MYOB AccountRight to only have up to 8 windows at one time, and only be able to process one invoice at a time.

Sales Analysis Designer

A great sales reports in MYOB AccountRight was the Sales Analysis, which listed the 12-month sales for stock items. MYOB Exo’s Sales Analysis Designer has this with the ability to add groupings to this report, filter stock codes, branches, locations. As a result, for MYOB Exo users, the report possibilities are endless.

Multiple Stock Locations

The core software intuitively deals with multiple stock locations. Using the Blue Echidna add-on, Exo will even allow multiple bin locations and scan picking. Read more about Multi-Stock locations here.

Multi-Currency

One of MYOB Exo’s greatest strengths compared to AccountRight is the ease with which multicurrency is handled, in Accounts Payable, Accounts Receivable and General Ledger. Learn more here.

On Costs Calculation

MYOB Exo handles the calculation for the landed cost of your stock within the software. Therefore, you no longer need MS Excel spreadsheets to help you work out how much to add to your suppliers’ invoice.  Exo takes care of the calculation and all of the required G/L entries too! This includes the multi-currency calculations.

As an MYOB Advanced user, here are some features you won’t be able to live without:

Intercompany Consolidation

MYOB Advanced uses the concept of an “entity”. You can have multiple branches, divisions, or even companies within a single database. No need for consolidating financials outside of the system.

Multi-Currency

Designed to support companies operating across multiple countries, MYOB Advanced easily manages bank accounts in multiple currencies and all other intricacies associated with different taxation regimes.

Mobility and remote access

Being a true cloud solution, MYOB Advanced can be accessed from anywhere, on any device. Learn more about being mobile with MYOB Advanced.

Workflows

The configurable workflow engine means you can automate repetitive procedures according to your business processes. This also allows for separation of duties along with the master and transactional approval workflows.

Security and Permissions

Access permissions can be narrowly defined per user or user group, right down to the field level in any screen. Row-level security allows one to control the visibility of certain data to certain users. Also, MYOB Advanced now has Two Factor Authentication as an added layer to ensure your data is secure in the cloud.

Taking the next step

When transitioning from MYOB AccountRight or MYOB Premier, it is important to expect a different system. MYOB Exo and MYOB Advanced are designed for more complex businesses. They require a skilled implementation partner to support you with all phases of the implementation: design, build, User Acceptance Testing and Go-live. The goal is to get it right the first time. Therefore, if there are features/processes that you will miss in MYOB Premier or AccountRight, speak to us about these. Don’t let it hinder your decision to progress to the next level of software. The transition from MYOB Premier or AccountRight to MYOB Exo or MYOB Advanced is a big step. Many businesses are now outgrowing the MYOB Small Business Suite of products, with the natural progression being MYOB Enterprise Solutions (Exo and Advanced).

Call us for a demo today on 1300 857 464. Let us advise you regarding a move to more functional financial software.

Free resources to help you further

Making your way through ERP selection processDownload our free Capability Matrix to see the full functionality of MYOB Exo vs MYOB Advanced. Discover what functions you could benefit from when you upgrade from MYOB Premier or MYOB AccountRight.

If you are at the beginning of your ERP journey and you aren’t sure where to start, download our free Ebook that will take you through everything you need to consider and what to be wary of during this process.

 

MYOB Advanced – the perfect fit for Museum of Australian Democracy

Kilimanjaro Consulting’s approach is to help our clients scale new heights in safe and trusted hands. We understand the importance of a successful software implementation in order to improve efficiency and achieve growth. Recently, Kilimanjaro concluded an effective implementation for the Museum of Australian Democracy (MoAD) – Old Parliament House,  who were facing challenges due to growth and limited reporting capabilities.

Museum of Australian Democracy – Old Parliament House

Museum of Australian Democracy

Old Parliament House is home to the Museum of Australian Democracy (MoAD). The nationally listed heritage building consists of social and political history displays and artefacts. The museum prides itself on workplace diversity for all its employees and visitors. The vision and role of Old Parliament House is to emphasise the importance of Parliament to Australians and to conserve the building for both entertainment and educational programs.

As the Museum is a constantly evolving organisation, effective financial control is very important. MYOB Advanced is the perfect fit, providing separation of responsibilities and duties, as well as a scalable platform for growth.

 

New Cloud-Based ERP Solution from MYOB

MYOB Advanced (powered by Acumatica) is a relatively new product in the Australian market.  It is a cloud-based ERP solution which is aimed at larger businesses that require a business management system which covers the entire business operation, from finance to administration and everything in between. MYOB Advanced is an easy to use, web-based product, making it accessible to users anywhere and anytime. It is the perfect software for businesses that want to reap the benefits working in the cloud.

Effective MYOB Advanced Implementation

Kilimanjaro Consulting understands that providing a structured, methodological approach is essential in deriving real benefit from a new system. This is what made the MoAD implementation so successful. When we first met with MoAD representatives, we identified a variety of management challenges due to a growing number of visitors, school tours and exhibitions. They were looking for something more intuitive and user-friendly which would allow them to manage business processes more easily. Implementing MYOB Advanced led to the removal of a significant number of manual processes. Manual data entry was eliminated in purchase orders, AP payments and AR requests. Paperwork coming into the Finance department decreased by up to 75%. In essence, MYOB Advanced has given the Museum of Australian Democracy a platform for future growth.

Measuring The Risk

Our experience with software implementation has confirmed our view that the three major risks in implementation are:

  • software risk
  • implementer risk
  • self-inflicted risk

In the case of Old Parliament House, the software risk was minimal because Kilimanjaro had determined at the outset that MYOB Advanced was an extremely good fit for their specific requirements. In the case of implementer risk, Kilimanjaro’s low risk methodology and structured approach to implementing large more complex sites once again proved its worth. In the case of self-inflicted risk, the team at Old Parliament House were a pleasure to deal with and had all the necessary skills to eliminate this area of risk.

Structured Kilimanjaro Methodology equals a smooth implementation

The team at Old Parliament House embraced our methodologies which made the implementation both smooth and successful. Whilst one may think that software is software, a far larger element of success is the implementer, the project champion, the client’s team and the change management. Kilimanjaro Consulting has incorporated all of these into its methodologies. This has driven them to become the number one MYOB Advanced implementer in Australia. When dealing with prominent or high-profile organizations, there is always a risk that a failed implementation can lead to negative publicity for the product. This case study illustrates the nexus between software, implementer and the clients team, all essential to ensure a successful outcome. It is a testament to the perfect mix of all three of these elements.

Your Trusted Advisor

The experience Kilimanjaro has gained in this successful implementation for Old Parliament House shows that we are well equipped to replicate this success in other government, semi-government and non-government organizations that require this a strong General Ledger, and integrated ERP system.

Remember that when choosing your software, you do have a choice of implementers and you would be wise to cast your democratic vote for someone that has done this before.To read the whole case study please visit our MoAD Case Study page. At Kilimanjaro Consulting, we can help you

  • select the right solution
  • guide you through the implementation process
  • provide on-going support

If you would like to learn more about MYOB Exo and Advanced or how to implement ERP software in your company contact us on 1300 857 464 or email us on [email protected]