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Thread: MYOB, Quicken, Money and so forth

  1. #1
    God/dess GoldCoastGirl's Avatar
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    Arrow MYOB, Quicken, Money and so forth

    I have just spent the whole day "reconciling my accounts" in MYOB. Shame on me for falling behind the data entry as it meant that I had to go back to the beginning of this financial year (which is July 1st for Australians) so that I could have all my accounts (incl. my "cash on hand" account) reconciled prior to embarking on my first BAS.

    What has this got to do with anything? It made me curious as to which accountancy type of program that everyone uses in relation to their money. I use it not only to track my business (stripping) expenses but my everyday ones as well (since sometimes they over-lap).

    After a little research I chose MYOB coz I know my accountant will be able to "read" this program more easily than any other accountancy type of program (Quicken, for example). I also chose MYOB due to it being tailored for Australians and having "support" for Australians.

    I must admit tho' without the training (an hour) that my accountant gave me in re: setting up and using MYOB... I was totally utterly stumped and lost. It isn't an easy program to use. I only recommend it if you can have someone train you.

    Okay.. now onto you guys..

    PS I must admit, even tho' it was a very boring thing to do today (I started around 8am and finished around 10pm.. with plenty of breaks in between)... I feel very good as today was a very productive day (and I'm back on track!) LOL!!


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    God/dess VenusGoddess's Avatar
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    Default Re: MYOB, Quicken, Money and so forth

    I prefer Money. I've used Quicken before, and it was okay. But, I definitely prefer Money. I just print everything up and hand it to the accountant.

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    Banned Melonie's Avatar
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    Default Re: MYOB, Quicken, Money and so forth

    agreed,MS Money is about as simple as bookkeeping programs get

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    God/dess montythegeek's Avatar
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    Default Re: MYOB, Quicken, Money and so forth

    Two things:
    1 Also keep manual records. Hard disks crash, or
    keep safe backups of these files on some removable media. (CD(DVD)/RW, floppy,memory stick, spare physical Hard disk)
    2 SHOW the account setup to the accountant and get them to agree it is organized OK, or ask them for suggestions on what programs works well with their setup. Saving a half-hour of their time may save you the cost of the program 3x.

  5. #5
    God/dess GoldCoastGirl's Avatar
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    Default Re: MYOB, Quicken, Money and so forth

    I tried MS Money however it isn't specifically set up to handle the unique Australian tax system. This is why I chose MYOB... plus the fact that I know my current accountant plus any other accountant across Australia can "accept" MYOB 'company' files in re: tax preparation.

    I spent an hour with my accountant to set-up MYOB to suit my business - so I can definately attest to monty's post about sitting down with the accountant and have him/her show you how to set up and use the program.

    MYOB is real easy to use once you know how to use it.

    I also like the extra features as I know that I will most likely have use for them in near and distant future.

    As for cost, MYOB can seem steep. The way I found around this is to buy an early version on ebay.com.au then upgrade. Besides, both versions are totally tax deductible


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  6. #6
    Sitri
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    Default Re: MYOB, Quicken, Money and so forth

    we use QuickBooks for the businesses and have just started using Quicken for personal. It links into all of our checking, credit cards, bills. electonically.

    Very easy to use.

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