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Notice: MYOB has been re-branded as ABSS with effect from 1st Jan 2018.

Frequently asked questions about MYOB


Is MYOB a double-entry accounting system?
When is the right time during the year to start using MYOB?
Can you start using just one section of MYOB and introduce the others at a later stage?
Do you have to close the year on the last day of the financial year?
What type of business is MYOB suited to?
Does MYOB necessitate complex reversing entries to make amendments?

In designing MYOB, the developers tried to provide the best of both worlds.

There is a preference setting which, with the appropriate password, allows the user to either amend existing transactions, or alternatively requires the entry of a reversing transaction.

It's up to you to choose which way you want it to work.

The beauty of the system is that it includes details of all amendments in its audit trail.

If you choose to configure the system so that reversals are required, MYOB helps prepare the reversals without an understanding of debits and credits.

Simply recall the original invoice or cheque to the screen and select Reverse from the Edit menu.

MYOB prepares the required reversing transaction and all the user does is confirm it.

Can I export MYOB data to Excel?
Does MYOB allow the entry of general journals?
Does MYOB allow reports to be customised?
Does MYOB have a flexible password system?
What is company file activation in MYOB?
What is the difference between MYOB single user and MYOB multi user?
What is the difference between MYOB Accounting and MYOB Premier?

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