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Table of Content
Top 10 Benefits of MYOB Accounting Software.
Summary of Training.
The report has provided the benefits of using MYOB Accounting Software over spreadsheet. The advantages of MYOB are that it picks up distributed computing arrangements that give the representatives capacity to take a shot at hierarchical substance. Along with the advantages of using MYOB software, implementation plan is also discussed in the report. The summary for training John and Julie is also briefly discussed. MYOB Accounting Software has lots of advantage over spreadsheet. The accounting software is helpful in taking administrative choices, keeping in mind the end goal and picking up an upper hand among rivals.
The aim of the report is to provide top 10 benefits of using MYOB Accounting Software. The report will also demonstrate the implementation plan to replace excel spreadsheets with MYOB. In addition, it will also provide the summary of training/coaching plan to train John and Julie about how to use MYOB Accounting Software as they have been using excel spreadsheet for quite some time now.MYOB had been formed in the year 1990 by Christopher lee. The CPA or certified practicing accountant organization of Australia has initiated the need of accounting software package for business operations (Myob.com 2016). MYOB stands for mind your own business and it is software used for managing the accounting activities of the business organizations. Almost 67 per cent of the business organization had started using MYOB for their business accounting operations (Myob.com 2016).
MYOB implemented the technological development for advancing it accounting software and improving its supports and features for its clients. The accounting software has developed the functions cloud system and better ways for payment system for improving the client’s satisfaction (Armitage, Webb and Glynn 2016). Due to these features of MYOB the accounting software has gained competitive edge over its rivals. The MYOB accounting software has implemented cloud based service for providing ease of remote access for it users. The data and information stored over the cloud based storage system of MYOB accounting software system provides the feature of remote access (Svobodova and Cerna 2016). The ease of payment system due to MYOB bank link has also helped in getting competitive edge over the competitors. Some of the other advantages of using MYOB Accounting Software are as follows:
The first step will be prohibition of use of spreadsheets. MYOB Accounting software will be installed in all the computer and guideline will be provided to use it. For better growth of the firm, and removal of difficulties related to spreadsheet, MYOB software will be introduced to the employees. Daily 2 hour session will be taken to inform people about this software and its benefits over spreadsheet (Puspa and Ilona 2019). Increase in efficiency and flexibility with the use of this software will make employees attracted towards it. As a result, employees will prefer to use MYOB accounting software instead of spreadsheet.
Training John and Julie will require their enrollment in online course in which the use of MYOB software will be taught. This will be guided by the Accountant Manager for the same purpose. Day by day evaluation will be done along with providing work and assignments. John and Julie have to daily report the progress. Personal monitoring will be provided as the software is new to them.The training session will be continued until they become expert in using the MYOB software. Training videos will be also provided to them for better understanding.
It can be concluded from the report that, MYOB utilizes technological development for the bookkeeping and accounting software. MYOB Accounting Software has lots of advantage over spreadsheet. The accounting software is helpful in taking administrative choices, keeping in mind the end goal and picking up an upper hand among rivals. Among all the accounting and bookkeeping software, MYOB is evaluated as a top with picking up a piece of the pie of 60-70 per cent for small to medium scale business enterprises. The advantages of MYOB are that it picks up distributed computing arrangements that give the representatives capacity to take a shot at hierarchical substance. The accounting software confronts difficulties, for example, information security and it is not learner benevolent. MYOB gives savvy answers for the associations keeping in mind the end goal to take out the manual procedures and builds up a key future for the organization.
Armitage, H.M., Webb, A. and Glynn, J. 2016. The Use of Management Accounting Techniques by Small and Medium‐Sized Enterprises: A Field Study of Canadian and Australian Practice. Accounting Perspectives, 15(1), pp.31-69.
Myob.com 2016. Defining the challenges of a growing business. Available at: https://www.myob.com/content/dam/myob-website/docs/enterprise/industry-whitepapers/GROWING-BUSINESS-WHITEPAPER,3.pdf [Accessed 12 Aug. 2016].
Myob.com.au 2016. What is MYOB? Mind Your Own Business. Available at: http://myob.com.au/myob-1258090781426.
Puspa, D.F. and Ilona, D. 2019. Behavioural Intention to Use MYOB Accounting Application among Accounting Students. In Journal of Physics: Conference Series (Vol. 1339, No. 1, p. 012126). IOP Publishing.
Svobodova, L. and Cerna, M. 2016. Accounting, Economic and ERP Systems on the Czech Scene. Advanced Science Letters, 22(5-6), pp.1170-1174.
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