One of the major frustrations many MYOB users have is with budgeting, especially with Jobs and Categories.
You see Jobs where never designed to be used as departments, instead they are actually more suited to once off projects where you budget for the life of the Job – Hence, you only get 1 budget amount per account code. You can’t base this budget on a particular year and worse still you can’t set a budget on a month by month basis.
Then there is the issue with Categories and if you are one of those people that do use this feature in MYOB I’m sure you’re already aware that you can’t set a budget at all for the Categories in MYOB.
So, what can you do…
There are a couple of solutions available – One of the Best available (And One that I can highly recommend to You) is a piece of software called ‘Two Keys MoneyManager’ for MYOB.
MoneyManager will bolt itself directly onto the side of your MYOB data file, automatically extracting all your data – so you never have to re-key any actual data. All your budget data is entered into the MoneyManager software and from there its just a case of picking the report you need from the 34 available reports and clicking the print button.
Now I dont know if the words ‘Sexy’ and ‘MYOB’ really belong in the same sentence, but here goes…
Now the real ‘Sexy’ part of all this is the new report it will produce from your MYOB data – A Projected Month by Month Operating Cash Flow Statement. This report will take Your Cash Balance and then for every account code in MYOB display for you the cash coming in and the cash going out month by month, looking 12 months ahead. It even estimates your GST Liability and displays this payment/refund in the month that it falls due.
I’m currently putting a video together that you will show you how easy it is to use – this should be up on this site within the next 24 hours.
