MYOB stands for Mind Your Own Business, and in this case it refers to an Australian company that specialises in accounting, payroll and retail software. An American man called Christopher Lee and his team at Teleware Inc designed the software in the 1980s. Then, in 1996, an Australian company called Data Tech Software bought the intellectual property rights of the software. After this acquisition they changed their name to MYOB. They have since merged with Solution 6 Holdings, which helped them to expand their accounting footprint. Presently over one million businesses across Australia and New Zealand use MYOB software, and their name is internationally recognised.
MYOB – What they do
They offer basic accounting software for small businesses but their software range stretches all the way up to multi-user enterprise software for large corporations. Other products include payroll software and payment services, asset manager, tax software and e-commerce solutions. They also offer MYOB Retail Manager, which is point of sale technology.
In 2008, MYOB expanded their range of services to cover the online realm. They now do web and email hosting, as well as domain registration.
MYOB training is very advantageous for ambitious employees. The software is widely used and it is very valuable for a business to have an employee who has a deep understanding and knowledge of the various software packages available. For those who are pressed for time or are geographically isolated, online training in MYOB systems is available. The online training is relatively new but has received very good reviews from those who have done it. The real value of the online option is, of course, the flexibility and the freedom to learn at your own pace.
MYOB offers a basic course, an advanced course and a specialist course. In the basic and advanced courses it is possible to do individual sections or to do a course combo, which rolls the various sections into one. The basic course offers bookkeeping for beginners; set-up and day to day processes. The advanced course offers advanced processes and business reporting and analysis. The specialist programme does not offer the course combo. The sections under specialist are payroll management, end of period reconciliation and inventory management. The last training option available is for the MYOB Retail Manager system.
With over 1 million businesses using this software across Australia and New Zealand, knowledge of this system will always be advantageous. Being well acquainted with the software your business is working on is crucial for smooth and efficient day-to-day running of the business. While some of the knowledge is available freely on the internet (MYOB for Dummies) this will not match the advantages gained from doing an intensive course in the software, especially when you get up to the specialist programme.
Natalie Simon is a freelance writer based in Cape Town, South Africa. She enjoys the challenge of writing on a diverse range of topics, such as on-campus and online MYOB courses in Adelaide, Australia.