Myob Consultants To Offer Proficient Business Accounting

There was a time when a company was involved with almost every aspect or function must undertake to do business on a day to day basis. With increase in commerce and international trade managing every other function pertaining to the company was very much overwhelming and naturally led to firms specializing in those functions. Especially those functions where finance was involved and audited by external audit firms. For a country like Australia, where business has been steadily rising for the past couple of decades MYOB is one accounting firm that specializes in accounting practices and payroll solutions for firms of all models and industries.

Almost three decades old, MYOB or an acronym for Mind Your Own Business, has been in the business of providing accounting and payroll services to a multitude of clients across Australia and even internationally. To that effect and leveraging its vastly gained experience and expertise it has created a niche for itself in payroll processing promulgated by its very own MYOB consultants. The consultants offer services in the areas of bookkeeping, consulting and payroll processing. The consultants not only offer their services, but also engage in quality and result oriented training in accounting practices for their clientele’s staff to help them manage their accounting and financial work.

Getting paid on time is one really good feel factor for an employee and goes a long way in establishing the credibility and employee friendliness of any establishment. But when managing growing business this really crucial task can be tremendously overwhelming even for the highly skilled professionals with the added responsibility of auditing. One need not sweat so profusely on it as, MYOB offers out of the box payroll solutions to get this burden off one’s shoulder with ease. The solution offers almost everything needed to process the salary of an individual with complete transparency to the business and its employees. Adopting a simple scale up model also helps the businesses to get maximum benefits of the implemented solution and that too economically.

With trading attaining global proportions and even small businesses scaling up to international market through the Internet, accounting too has grown up to be quite complex after crossing international borders. To get the figures correct it is a must that knowledgeable and skilled professionals be employed for the job and MYOB consultants perform all the tasks in this context with finesse. Not stopping at just providing consultancy services they go a step further to impart training on out-of-the-box third party payroll and accounting software to in house staff of various businesses. With many countries opening their borders to ease global trading it makes for a sensible approach to get accounting experts on board and ensure the business maintain a healthy bottom line.

What To Do When You’ve Outgrown Myob Accounting Software

Entry-level software such as MYOB and Quickbooks has done wonders for small businesses. These small business accounting systems let small business perform quickly what was previously a full time bookkeeping and accounting role.

While they are great for start-ups and very small businesses, companies that want to move to the next level must have software in place to support, not hinder, intended growth. They need software that is for more than just accounting. Growing businesses need software that enables enterprise resource planning (ERP).

So what is ERP? ERP is a business management system that integrates most functions of a business, including quoting, planning, manufacturing, service, sales and marketing. It also covers activities like stock control, order tracking, customer service, finance and staff.

Large organisations use ERP systems to manage every aspect of their businesses. But ERP is not just for the big guys! Growing businesses can reap huge rewards from using an ERP system that has been specifically designed for businesses that have outgrown MYOB & Quickbooks.

Five important facts about an ERP system:

Affordable small business softwareSaves you money on administration ERP ties together all facets of your business Provides proper “Big Business” reporting – essential for any size business At the risk of using a cliche..”if you can’t measure it, you can’t manage it”.Is flexible and will grow with you

Business growth is one of the many reasons SMBs break free from the limitations imposed by basic accounting software and seek out a more sophisticated ERP system to manage almost every aspect of their business.

As a business grows and you start adding staff, entry-level accounting systems start to slow down and lose performance. Data corruption also becomes a concern as multiple people start trying to access the same record at the same time. Larger enterprises often opt for SAP – an ERP solution that is often too expensive and complex for SMBs.

An ideal solution for businesses that have outgrown MYOB but are too small for SAP is ERP software tailored specifically to small businesses. Look for systems:
designed with the needs of a growing SMB in minda quality system framework, anda front-end interface to manage business workflow and processes.

This is a substantial move from running small to medium-sized businesses via standard accounting software.

An ERP system can add value to a business by:

providing quick access to all files and records adding security levels on data for better safekeeping enabling multiple access to the same file without corruption of data time and date stamping every entry so you know who did what, and when not slowing down as you add more users, customers and suppliers letting you create rules that suit your particular business.

Flexibility is another huge advantage of an ERP system. As you change a process or procedure in your business, you can change your ERP system’s workflow rules to match your company policy.

Let’s look an typical small business that is benefiting from using ERP. The company is a large copier dealer specialising in digital document production and management technologies. It was similar to many other copier dealers in that it was looking for a single piece of software to manage a large number of clients under contract.

The software had to have a strong accounting back end, copier-specific reports, as well as an interface and functionality suited to a copier dealer. An out-of-date accounting system, combined with multiple spreadsheets and inadequate reporting were just not cutting it for this business.

The business deployed a small business ERP solution and found that it met all its needs. The company experienced immediate benefits from implementing an ERP system specifically designed for SMBs.

For business that have outgrown MYOB & Quickbooks and don’t have an unlimited budget for SAP, look around and evaluate, there may well be a tailored system made specifically to fit neatly into your growing business.