Many of our clients find the concept of financial year roll forward confusing. First of all, if you are a Xero user, don’t worry about it! There is no formal roll forward process with Xero. With MYOB, there is still a “close year” (Live) and “start a new financial year” (Classic). The first thing to note is […]
The supplier item code will not show in my customized Purchase Order – why??
Another tricky question … but I have the answer! In the item information window, you must have the primary supplier selected, and this supplier must be the same as the supplier in the purchase order. Only then will the database feed for the supplier item code work.
How do I change the default MYOB currency from AUD to XYZ?
Just had a call from a client with this question, and I actually wasn’t sure how to do this myself. After a bit of research … ta da … here is how you do it. First of all, you must be using MYOB Premier as this is the only version that allows foreign currency. Ensure […]
Xero or MYOB? Which product should I choose?
The million dollar question … here are a few questions to ask yourself about which product may suit your business best: 1. Do I need my accounting software when I do not have an internet connection? Obviously this will be more of an issue in regional areas or black spot areas. Are you a mum […]
Bank Feeds – what are they?
Both MYOB AccountRight and Xero use the concept of bank feeds. This involves getting a form signed and submitted to your bank (or banks). After a week or two, bank feeds will arrive on a nightly basis and upload automatically into your accounting software. They will sit there “unreconciled” until you match them with (a) […]
Demo Companies – a great idea!
Did you know that both MYOB and Xero have demo companies that you can explore and experiment with? All MYOB versions come with a sample company called “Clearwater” where you can play around to your heart’s content! And Xero has a demo company that is kept up to date with live data (and it refreshes […]
How do I leave a comment on a unreconciled Xero bank feed?
The beautiful thing about Xero is that you can collaborate with CloudCounting to get the reconciliation done. We encourage our clients to introduce as many bank rules as possible, but if you are really stuck it makes sense for you to add your comment, such as “I think this should be a plant and equipment […]
Why doesn’t my logo show up on my MYOB customized form? (MYOB Classic versions only)
This is a really common problem, you customize your MYOB form, and it looks fabulous. But when you export it to *.pdf, the logo is missing! To fix this, you have to download Apple QuickTime. This is a free download. Why? Not really sure, but it works. Once you download and install try exporting your […]