Getting Started with MYOB LiveAccounts

So I’ve started. This morning I registered for MYOB LiveAccounts (which took a couple of gos and seemed a little glitchy but was pretty straightforward in the end), registered my business, and did the accounts setup.

The accounts setup was really easy. I guess my only question so far is whether that trade-off between simplicity and complexity has struck the right balance. For example, you only have a choice between 12 business types when you get started. The limited choice is nice and simple, but the only possible one that could apply to my holiday house business was the business type of ‘Trade Service’. I found this a little confusing — did LiveAccounts mean that this type is for tradespeople providing a service? Or for all tradespeople, and all service businesses? I decided LiveAccounts meant the latter (pretty sure I’m right here), and the standard accounts list seemed just fine.

Another example of complexity versus simplicity is that I couldn’t import my existing Accounts List from MYOB Accounting — never mind, setting up an Accounts List is a one-off job, after all.

I liked how the accounts came with all the tax codes already linked correctly (for example, Advertising Expense has GST as the linked tax code) — that’s something which up until now the standard desktop versions of MYOB don’t do — the tax default is always No Tax for all expenses, which is confusing for new users.

I didn’t like how I can only view a couple of accounts at a time (making it tricky to have an overview of my Accounts List) and how if I forgot to enter a hyphen in the account code (e.g. entering 52000 instead of 5-2000) it sent the account to the bottom of the list. But these are minor gripes and part of me getting used to a different way of working.

And so I’ve gotten in there, I’ve set up my accounts, recorded a couple of expenses, and all within an hour or so. Have a look at how my homepage appears:

MYOB LiveAccounts home page

If you’ve been using MYOB LiveAccounts, I’d love to know what glitches (or successes!) you’ve had during this setup process.

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About veechicurtis

a one-woman geekspeak to plain-english converter
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2 Responses to Getting Started with MYOB LiveAccounts

  1. Beverly Edquist says:

    Veechi, what we are looking for is the full Accountedge program on line. We would not do our banking on line like this. We want to be able to do on line what we now do, create purchase orders, receive in inventory, create invoices to our customers, count inventory, etc. etc. etc.

    Any hope that we’ll ever get that?

    • veechicurtis says:

      Hi Beverly,
      I have heard rumours about AccountRight going into the cloud later in 2011, but not sure what’s happening a) with AccountEdge and b) with the U.S. (I am right in thinking you’re in the U.S., aren’t I?) My feeling is that you could be waiting a while.

      If your main priority is to be able to log in from a remote location, you could use a remote hosting service. This isn’t ‘true’ cloud accounting, but does give you the benefits that you can access your accounts from wherever you are.

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