DEFINITION OF MYOB (Mind Your Own Business)
MYOB was founded in the late 1980s by Christopher Lee and a team of developers at Teleware, Inc., who developed accounting software. Teleware was purchased by Best Software, Inc. (now part of Sage) in 1993. Data-Tech Software was the Australia republished of the MYOB products and, in 1997 entered into an agreement with Best Software to buy the company (renamed MYOB, Inc.) and bought the intellectual property rights to the software. In 1999, Data-Tech changed their name to MYOB Limited and listed on the Australian Stock Exchange (ASX) on 9 July 1999. In subsequent corporate development, MYOB Limited merged with Solution 6 Holdings in 2004. Though ...view middle of the document...
While the company offers over 100 services and products, it is mostly known for its suite of accounting software for small to medium-size businesses. MYOB's mission is to help businesses by providing user-friendly accounting software. According to the company, over 1 million businesses in Australia and New Zealand use MYOB software.
Account Right Products
* MYOB's line of Account Right Products are multi-featured accounting software packages designed to help businesses manage invoicing, expenses, taxes, inventory, purchase orders and more. Account Right software has Google Maps integration so businesses can create routes and get directions to clients. Account Right comes in three versions: standard, plus and premier. The plus and premier versions include more features than standard such as time trackers, employee leave management and integration with BPay, an Australian-based bill-paying system used by financial institutions. Account Right products are made to run on computers running the Windows operating system and to integrate with Microsoft Office.
* MYOB's Edge products are accounting software packages that run on the Macintosh operating system. First Edge, Account Edge and Account Edge Network Edition provide many of the same accounting features as Account Right products. First Edge is the basic version. Account Edge and Account Edge Network are the more advanced versions of the software. Account Edge Network allows multiuser access across a computer network.
* MYOB Student Edition is instructional software for the MYOB line of products. It teaches accounting skills taught in schools as well as how to use Account Right, Account Edge and Asset Manager and other MYOB products. It includes student editions of these products and a learning guide.
Other Accounting Products
* MYOB manufactures specialized accounting software for invoices, assets and small businesses with tight budgets. Business Basics is designed for small businesses that only need software for accounting, invoicing and expenses. Just Invoices is for generating sales invoices. Asset Manager Pro helps businesses keep track of their assets. MYOB's Live Accounts is a web-based accounting software program for small business. Businesses pay a monthly fee to use Live Accounts.
PURPOSE OF MYOB (Nur Alia)
* Helps small businesses and accounting firms to generate more profit and lessen the cost of running their businesses.
* Helps to make the record keeping easier. Since things like that are usually cheaper than hiring actual persons, then this would be a good thing to have
* Helps keep accounting records accurately and efficiently and provide useful information so that management, accountants, investors and creditors can make economic decisions
* To manage and document financial accounts. This includes creating and managing financial records, performing and documenting financial transactions, and submitting official...