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Should we offer MYOB Training Courses to group buying companies?

group-buying-sites-choice-review-discounted-MYOB-training-course
Image from Choice website

We’ve been approached by many different Groupon type companies. There seems to be hundreds of these sites popping up every day and they are famous for offering you almost unbelievable discount coupons for almost anything but most commonly services like pedicures, restaurant and cafe meals etc. We’ve always ensured our prices are competitive and bookkeeping students receive good value for money, but our Training Partners have tried them and we’ll share their opinions with you.

For business owners (or merchants as we are called) group buying sites promote the possibility of receiving hundreds of sales of your product (so you better make sure you can service the demand) but what do they want in return. Here’s a classic scenario:

Normal Price: $200

Group Buying Price: $100

Saving to you: $100

Margin that goes to the Group Buying Site is typically 50% of the discounted price, ie. $50

This means that a merchant that would normally receive $200 for something, will now receive $50! Is it worth it? Then why not just sell it on special for $100 and spend some money advertising it? As you can see, we are pessimistic about the future of group buying sites. Our training partners workface.com.au offered a discount on their Microsoft Excel training courses only to receive a handful of sales.

choice_group_buying_reviewAnd there are hundreds of these group buying sites. See if you can recognise some of these names: Cudo, Groupon, AlltheDeals, Spreets, Living Social, Grabone, BizzBuzz etc. At the beginning of 2011 a local Australian startup in the space was sold for $40M! If you have time read a review by Choice Magazine.

The main reason we don’t like the big group buying sites is because of some of the conditions imposed.

When you buy the discount voucher the group buying site earns the money. Some of the more selfish sites will then only pass this money to the merchant when the customer uses the voucher. In other words, if the  customer doesn’t use the voucher within the “valid period” the merchant earns nothing and the customer loses the benefit!

By the way, I was at a software training function last week and a birdy told me that consumer protection laws might come into affect that provides protection for buyers of these discount vouchers – if you buy a $50 product then you can receive $50 off after the offer period has expired. Watch this space…

As far as discount coupons, we make them available to you. Just tell us what you are looking for in a training course and you’ll automatically receive a discount coupon code for our MYOB, WordPress and Excel training courses.

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Ebay sends mothers little helpers

Ebay sends mothers little helpersWithout wanting to dive into the psyche of a new born mother I noticed a warming pattern in Ebay shipments. Although my teenage years weren’t filled with the educational perspective of The Rolling Stones’ lyrics, the benefits of small parcels from other Ebay devotees fulfils the mothers need for new and interesting things.

Moving away from our usual topics of computer software training, employment services and MYOB and Bookkeeping related blog posts I delve into the stupendous success of Ebay. Ebay users share an unequalled (in the eye of this writer) desire to be rated by their peers so that they can sell to other Ebay devotees. Small children’s garments are often mailed for the cost of the packaging and freight in the knowledge that they will benefit another fledgling family as merchants are rewarded by the invisible smiles of happiness of thousands of  recipients in other suburbs every day.

If business owners can act in this way the future might be filled with more specialised businesses that do a better job and are prepared to be publicly rated.

Just like Carol the kindle user and Grandpa Jack, Ebay is evidence that technology is now like electricity – a normal part of our lives. Bring on the next wave.

 

 

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Mummy earns good money

mums returning to work doing bookkeeping using MYOBEmployment is one of those huge questions in the mind of many mums and dads. How to ensure that the family can maintain an income from both parents while still giving your new infant the time they need.

When we operated our MYOB training courses in Parramatta, Chatswood, Burwood, Gordon and Dee Why we noticed that a lot of mums were looking for a way to work during school hours while still being able to earn good money. They were coming to our MYOB courses because they knew that they could earn good money performing bookkeeping for local customers. The same still applies today.

It is now easier for working mums to earn good money and still remain at home! With VoIP Phone Systems, accounting services in the cloud and broadband internet mums can perform bookkeeping tasks for clients anywhere in Australia.

 

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The Richest Man in Babylon

We wrote about the superannuation guarantee last week as part of our bookkeeping academy and continuing professional development (CPD) for bookkeepers and we wanted to expand on an excellent concept within the blog post about “The richest man in Babylon”.

There are some excellent phrases and some simple, but important lessons in the Richest man in Babylon book which dates back to 1926! The one which we found interesting (and it stood out to us because we are an education and training provider) was the heading “Increase thy ability to earn“.

This concept applies to many industries and we’ve found there are two types of workers (whether you are a business owner or employee), those that seek new information and education so that they can be innovative and productive or those who do it because of necessity. When we say necessity there are two types:

  • If I don’t learn I will be out of work, OR
  • I need to learn to keep my job, licence etc

The Bookkeeping industry has been undergoing massive changes since 2010 and will continue to do so because bookkeepers responsible for lodging BAS’s on behalf of their clients will need to be registered BAS agents and as a result will need to always be abreast of changes in legislation. This webcast transcript from the tax practitioners board will give you some insight into how much the bookkeeping industry is changing.

You can be assured that our online MYOB training courses will be regularly updated to ensure that your knowledge on MYOB is up-to-date.

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Want to see what MYOB looks like when it’s hosted in the cloud?

Remote_desktop_connection_icon for MYOB hosted in the cloudAs part of our Continuing Professional Development (CPD) program for our Bookkeeping Academy we write and inform about products and services that will help bookkeepers build their business and job seekers learn new skills to become more employable.

We recently wrote about companies that offer MYOB hosting. This enables companies to access their MYOB datafile from no matter where they are and it also enables remote contractors to manage a companies bookkeeping from their own homes. In this blog post we include a video demonstration about how easy it is to use MYOB in the cloud.

We spoke to John from Bluewave who use to promote his MYOB hosting services under the domain MYOBinthecloud.com (we think it’s a great name because it describes the service that he offered very accurately) and he was kind enough to give us a demonstration account so that we could give a hosted version of MYOB a spin. He said that they provide hosted solutions for more than just MYOB and we were able to create an invoice and email it using Microsoft Outlook.

The MYOB version we used in this demonstration is the stable version 19 (as opposed to MYOB AccountRight version 2011 that had a lot of bad publicity). The great news about MYOB is that it’s navigation hasn’t changed significantly for at least 10 years from our experience.

If you area reading this blog post via email, click on the heading to be able to see the video). If you want to ensure that you get each update as it is published via your email feel free to subscribe. If you want to create your own blog using WordPress and Google Feedburner learn how to create it in our WordPress course.

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Live Excel Pivot-Table Stats: self-paced learning versus class-based training

Excel Course 308 - pivot table value field settings for intermediate to advanced Excel training courseWant to see some live data from when we operated our Sydney-based training centre? We conducted courses for Absolute Beginners (we call it Computer Learners now), Microsoft Word and Excel, MYOB Accounting software for bookkeeping and others. We also offered different start times and different methods of delivery including self-paced (which has evolved into online) as well as class-based training courses.

The data in this free Microsoft Excel training video is taken from our student enrolment database the same year we created our first training videos. We created these videos to make them available to students who couldn’t fit into a schedule or wanted a more personalised training experience. Want to learn more about my fond journey in computer training? Feel free to also subscribe to my small business blog while you are at that site.

If you are reading this as an email, click on the heading to get to our blog site and enjoy the free training video about Pivot Tables using Microsoft Excel (the exercise file is provided in our Excel Training Course) and shows live data of enrolments for that year. We used a pivot table to find out:

  1. The popular courses,
  2. The popular training methods
  3. The popular start times for courses.

Can you see in the video which year the data is from? Back then we had experienced trainer like Maria Landrelli and Marie Diblasio to deliver our popular MYOB Day-to-Day courses to find work as a bookkeeper.

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Do you need more customers, more people, or more time?

Professional bookkeeper and online WordPress training course and hostingI was going through our EzyLearn blog library of articles today. In doing so, I was reminded that we started blogging back in 2007.

This was one year after we closed our three Sydney-based computer training centres to focus solely on online training courses.

After reading some of the old posts, I again realised just how much work is involved in maintaining a blog!

The Necessity of Blogging

When I analyse the workload of the EzyLearn team members and the hours we spend creating step-by-step training workbooks, training videos, knowledge reviews and assessment tasks, I realise that it is all very necessary.

Back in 2007, blogging wasn’t new. In fact, many people had heard of it but most small businesses (or large ones) weren’t really doing it much.

We at EzyLearn wrote a workbook to teach people how to use WordPress and it highlights one of the most important parts of being a training organisation. This being, to study what is new and understand how it will affect businesses and employees that use technology into the future.

This blog you are reading right now is read by a lot of other people and it highlights:

  1. Our commitment to keeping you informed
  2. The range of skills our team has
  3. The number of customers who come to us as a result of reading this blog

Why Blog?

Why am I talking about this? One of our most popular online courses is the MYOB Bookkeeping Course and a lot of people who complete this course want to start their own business.

These same people are keen to build their customer base enabling them to work their own hours, use their brains and earn a good living.

Having a website with built-in blogging functionality based on the WordPress Content Management System is a fantastic way to tell people what you know and drum up new customers. It enables you to keep in contact with people, keep giving them information with no strings attached, and remain top of mind.

Blogging and “content marketing” just takes a bit of time to learn and then keep up to date, but you’ll end up with more customers and won’t have to pay for Google Adwords! 🙂

Read more about why we do content marketing

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MYOB Professional Partners and Certified Consultants and EzyLearn

professional MYOB Partners and online training coursesWe recently mentioned our EzyLearn online training business opportunity and were surprised at the response. We were particularly surprised the receive applications from some MYOB Professional Partners who are looking for an online training solution to provide to their clients.

This makes sense when you understand that every business has different circumstances and they use MYOB software in different ways. When they need individual attention to these problems they turn to someone who understands the software intimately and they understand the price they have to pay for this expertise.

An MYOB training course however is designed to give 80% of the people who need to USE it on a daily, monthly and quarterly basis most of the skills they need to be confident with the software to perform the bookkeeping function.

So combining the EzyLearn MYOB training courses with some professional one to one consulting is a beautiful combination.

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Can MYOB repay it’s debts with its head in the clouds?

cloud-accounting xero vs saasu vs myob online training courseWe wrote back in early 2010 about what appeared to be a revolutionary move at the time about MYOB founder Craig Winkler jumping ship and moving to Xero. In the recent bad press about the bug-ridden upgrade of MYOB AccountRight 2011 there is an interesting mention about Cloud Based accounting and MYOB’s goals to get into that space.

In the past 12 months we have worked with as well as provided training for many virtual assistants (remote contractors) and we’ve come into contact with other cloud-based accounting/bookkeeping services you might like to know about. Our pick of the bunch would have to be SAASU at this stage because they have a product that is perfect for remote contractors or micro businesses.

It appears that Xero and SAASU own the online accounting market space but it will be interesting to see how MYOB go as they diversify into cloud accounting as well as their many other products like website hosting, which we’ve never really understood when there are market leaders like MelbourneIT and NetRegistry as well as thousands of small providers.

While we’re on the topic of cloud, here’s a little plug for virion business grade voip. Our trainers have compiled an Excel spreadsheet to demonstrate the cost savings of VoIP over traditional telephony and this year we will have some training for IT Consultants about the Siemens Gigaset office phones.

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Will Your Smart Phone Become Your Future Computer?

 

Office applications on a smartphone in the cloudMANY OF US are already using our smartphones in ways that overlap with our PCs and laptops.

For instance, when we looked at Google Analytics to see our blog readership stats, we found that a good number of you are reading this on your smart phones.

Smart phones have so permeated our lives and become so powerful that it’s little wonder they could become much more.

There’s talk about smartphones becoming your electronic wallet (or at least your credit card). Then there’s Ubuntu, a company that make software that helps your “Android” smartphone become a computer. Of course, right now many of us already use “the cloud” to communicate, write letters and much more.

We spend a lot of time looking at new technology and thought you would be interested in this cutting edge technology.

Apple or Android?

Although the Apple iPhone is the market leader that everyone talks about, some of our team members, including myself, use an Android-based phone. I find this preferable as it’s easy and has live integration with Google Apps (ie. gmail).

The great thing about companies that manufacture Android-based smartphones is that they are building in HDMI, USB and other great connectivity features that enable this type of technology.

It’s a beautiful example of convergence in technology.

 

Are you making the most of the Cloud?

Xero accounting software can enable you to price work from the road and do your business bookkeeping from anywhere 24/7 — or help you get an accounts job. Find out more about Xero Accounting for Invoicing and Accounts Receivable by accessing our FREE Xero workbook 

Just visit our new Online Training Course Catalogue website and get the Xero Training Course Workbook for free instantly.

 

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What do you want in a training course?

Dr Evil - Need the info - what do you want in an online training courseSometimes we use the EzyLearn blog to learn more about what you are looking for in a training course, particularly if you have not done a course with us before. As a thank you for sharing your opinions with us you’ll receive a discount coupon for one of our courses and updates about special offers.

We’ve assembled a simple Course Needs Assessment to understand what you are looking for. With online training courses and support for MYOB bookkeeping software, WordPress website design and blogging software and Microsoft Office, we cover a wide range of topics.

Our courses are for:

  • Job seekers,
  • Those already in a job and
  • People seeking skills to operate their own business

Each category of student has slightly different needs and we want to make sure we are catering for your training needs.

Complete this brief questionnaire to join the “specials” list and receive a discount coupon code for one of our online courses.

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Having problems with bank reconciliations using MYOB AccountRight Plus version 2011?

Sometimes we use the EzyLearn Blog to inform readers about modifications to our MYOB online training course. We’ve received feedback in the MYOB Support area from students that elements of our MYOB Bank Reconciliation course are coming up with errors when they use the most recent version of the MYOB software.

Bank Reconciliation using MYOB version 2011

One of the great aspects about coming across problems in a course is that it replicates the type of problems you’ll experience in the workplace or while managing your own business. Jacci, our resident BAS Agent has gone through the steps in the course and identified potential issues. She has written up a concise guide that is now included in the bank reconciliation course (#503) to help you balance the books using MYOB.

Online training and support for MYOB, Microsoft Excel, WordPress and moreIf you come across problems or issues please feel free to use the EzyLearn ANSWERS service we launched in May 2011. It is part of our growing support options for students. If you operate a small business and want to know something or if you come across an issue that is not covered by the training in our existing course let us know because EzyLearn courses are LIVE courses, they are growing every month with new content that you don’t have to pay extra to use.

online training and support for MYOB, Microsoft Excel, WordPress website design and moreOh, before I leave you on this blog post I want to highlight our new student support option we launched last month – Tutor Support and Student Community – it’s a way to connect with other students and have direct contact with our professional tutors who have real life experience using the software in their daily business life.

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How long will an online training course take?

online MYOB Training Course and SupportSometimes we use the EzyLearn Blog to inform readers about general course information. Our online courses are completely self-paced so you can complete the online MYOB course in 7 days, 2 to 3 weeks or just use it as a resource.

It’s that time of the year when traditional training centres start their class-based training courses. When EzyLearn operated three physical training centres in Sydney we spent a lot of time scheduling which courses. We asked ourselves questions like

  • What day should the course start
  • Which course should be held on a Tuesday/Wednesday etc
  • Should we schedule it for the morning, all day, evening or Saturday
  • How many weeks should the course last
  • Which training room and centres should we hold the course,
  • Who will the trainer be
  • Is the trainer available

Office administration (Microsoft Word and Excel etc), MYOB (Bookkeeping software), Website Design (using WordPress) and Absolute Beginners courses have always been scheduled this way so people are used to talking about courses this way. One of the most common questions we get asked is “how long will it take?” and our first temptation is to say “How long do you want it to take”.

Our online MYOB training course includes 5 courses for the price you’d expect to pay for one course (It includes MYOB Setup, Day-to-Day Transactions, Reporting & BAS and MYOB Payroll Intro) and the contents of the course is what we used to cover in approximately 4 full time days of training.

Another great aspect about an online training course is you can use it for the rest of your working life without paying any extra (if you choose that enrolment option). So you can complete just the MYOB Day-to-Day Transactions course (# 502) and when you need it you can complete the Bank Reconciliation and BAS courses.

To enrol into our online MYOB training course click here.

In the forthcoming weeks we are going to write about

  • Using Microsoft Excel to enter Payroll information and then enter that information into MYOB
  • Differences between MYOB AccountRight version 2011 and previous versions
  • New content for the MYOB Payroll Course

We’ll also introduce you to Jerry Lame. He’s the new Ordinary Man. Follow Jerry’s journey of starting a business, writing business plans, creating a budget and forecasts and then implementing it. You’ll learn how to use software for practical purposes along the way.

If you don’t want to miss out on this information, make sure you subscribe to our blog using the form below:

 

Enter your email address:

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Have you seen the latest version of MYOB software

We sometimes release information at the EzyLearn BLOG that relates to information that will benefit our students. If you are a student and you download the free trial version of the software you will be downloading the latest version.

Back on November 17th 2011 MYOB launched their MYOB AccountRight Plus version 2011 product.

We’ve recently recorded some training videos about MYOB Reports for GST Collected and Paid and where GST is located in source documents like invoices. We’ve then gone on to show you how to update your BAS Info in MYOB and use the BASlink feature that collects your GST information and quickly and easily gives you the information you need for your Business Activity Statement (BAS). This information is covered in our MYOB Reporting and BAS course (code 504). If you are familiar with EzyLearn you’ll know that this course is included with all the others MYOB courses for the one price and LIFETIME membership.

The navigation around MYOB AccountRight Plus version 2011 is very similar to earlier versions (although MYOB has updated the icons they use). We’ve downloaded and recorded a quick video to show you what it looks like. If you are receiving this blog post via email, click on the heading to see the video below.

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It’s time to thank YOU

It’s only days before Christmas 2011 and from all of us at EzyLearn HQ we want to thank you for watching our training videos, using our training worbooks and completing our knowledge reviews, reading our blog posts and telling your friends about us. I personally also want to thank the core EzyLearn team for enabling us to grow and provide a great online training solution for thousands of Australian’s and international students.

Thank you Frankie, Yvette, Richard, Jacci, Ross, Amy, Luke, Iroshini, Warren and Allison. Also a big thanks to Simon, Scott, Amy J, Faisal, Jennifer, Nicholas and Mathew. You have made a real difference to EzyLearn this year and to our students and the hard work you’ve done will reward students for years to come.

This year has been one of our best years because we made a commitment to be the best online training company for

  1. MYOB accounting software and bookkeeping
  2. Microsoft Excel & Microsoft Word, and
  3. WordPress website Content management system and blogging platform.

Other training companies spend their time and energy trying to provide hundreds of courses with the aim of trying to get anyone they can. We decided to focus on our core skills and give everything we could. We also tried to make our online training courses affordable and inclusive so you don’t have to worry about your availability or skill level.

Here are some highlights during the year:

Creating a WordPress blog post

online WordPress training course - blogging and website designSocial media has gripped us all this year and if you are a business that didn’t know about websites, blogging, Facebook pages and Twitter you were considered lost. We’ve used WordPress to create our own websites for years and this year we introduced the WordPress Training Course.

You might find it interesting that we were writing blog posts about WordPress back in 2007 and even earlier, but this year we expanded our content significantly and included Google Analytics, Feedburner and other skills in it.

LIFETIME student membership

In January 2011 we introduced lifetime access to our online MYOB Training Course. This gave students access to all courses (Setup, Day-to-Day, Bank Reconciliation, Payroll Introduction) and it also provided them with a safety net and a resource when they are in the workplace. Rather than say thank you and goodbye once our students have completed their online course we welcome students to come back as often as they need.

A significant benefit to this offer is that students get access to all new content that has been created for the course or updated content for the existing material. An excellent example of this is our online Microsoft Excel course. We have training material since 1999 on Excel version 2000, 2003, 2007 and 2010 and as we create new content for Office 365, existing students will have access to the new material for no extra charge.

Welcoming Entrepreneurs as Business Partners

Our Business Partner program has enabled other dedicated professionals to use and promote our training material as part of their own business activities. This has enabled us to focus on the delivery of training materials and management of a learning platform while other business owners earn money by their promotional and sales activities.

We are 100% dedicated to this program going into 2012 so if you are interested please ensure you make contact with us.

Testing your MYOB knowledge and skills

Online training assessments and tests for coursesOnline training is still relatively new for many prospective students so we introduce the concept of knowledge reviews and skills tests to demonstrate how they are a learning tool as well as a testing tool.

We created a significant volume of new tests and quizzes as part of our online training courses this year and as a demonstration of their efficacy we introduced a free public MYOB skills test to see how much you knew about MYOB. It was also a great way for students to discover a new way of learning something online.

Partnering with Bookkeeping Industry groups

A significant number of our online training students complete their training to perform bookkeeping tasks as an employee or as an independent contractor. To demonstrate our commitment to “would-be” MYOB Bookkeepers and provide you with reputable accredited MYOB courses we became an accredited training provider of the Institute of Certified Bookkeepers. EzyLearn is also a member of the Australian Institute of Training and Development, the Australian Web Industry Association and the International Coaching Federation.

We join these associations to support the online training and coaching industries, demonstrate our commitment to professional industry ready courses and keep abreast of all new training techniques and technology.

More than just an online training course

Support is an important aspect of online learning and it is also a source of significant costs for organisations like EzyLearn. In balancing the costs of maintaining our current team members will the benefits of some rudimentary customisation of our courses we introduced EzyLearn Q&A. With a separate Q&A service for Microsoft Excel, WordPress and MYOB.

We’ve subsequently called this service EzyLearn ANSWERS. It’s a way of providing new training materials based on questions from our students. Students ask questions relating to their needs and our software specialists create a short answer to lead students to a solution. We use this service to increase the breadth of topics covered in our courses.

More team members to serve your needs

This year we added 8 new team members to help create new training content, manage our online learning site, answer questions and provide support. Most importantly it has helped us significantly reduce the time it takes between when you complete your course and when you receive your certificate.

You’ll meet more of these team members during 2012 and we hope to bring more people into EzyLearn to support your learning needs.

Faster loading videos and better online learning tools

We listened to the feedback from our students to improve as much as possible and to complement the addition of new team members we significant upgraded our video hosting capacity to ensure faster and easier viewing and navigation of our online training video tutorials.

This technology update enabled students with new devices like iPads and other Apple products to view our training videos and participate in mobile elearning regardless of their chosen devices.

Training for office administration for small businesses

virion small business telephone systems using voipThis year we formed a partnership with virion business grade VoIP to provide online training tools for their installation partners. As part of this project we included some new training materials to help office admin staff not only configure their new VoIP telephone systems, but we also provided spreadsheets for them to use as part of their phone bill analysis reports for customers to demonstrate how much money they could saving using Voice over IP.

We started looking at VoIP solutions for our own business in 2008 when we tried out the features of MyNetFone. In our constant search for better technology and support people we discovered the VoIP solution dedicated to small businesses, virion.

In 2012 we will strengthen this relationship by providing more in-depth training videos and tutorials. Our commitment to online training is focused on providing students with the tools they need to be efficient and productive in small business across Australia as well as provide these small businesses with the tools they need to operate great businesses.

Conclusion

If you think we have made a lot of improvements in 2011, just wait until you see what we have planned for 2012. We will:

  • create more training content for our MYOB course and WordPress /  Webmasters course
  • implement more services to help support your online learning
  • help you find more customers (for small business owners using your website and Google adwords, Analytics and SEO)
  • provide more tools to help you find a job (for job seekers by helping you write better resumes, perform better at interviews and be more confident in your work)

Thanks again for reading and following our progress we want to demonstrate your successes in our 2012 blogs posts.

All the best from the EzyLearn Team.

Sincerely,

Steve Slisar

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MYOB Training Course Update: New training content for MYOB Reporting – Profit and Loss Reports

The EzyLearn Blog is where we officially release information about updates and additions to our existing training courses and today we announce new content for the Reporting Subject in our MYOB Training Course.

We are thrilled to announce the production and implementation of the Reporting module in the online MYOB Training Course. In the production of this course we will be including the learning outcomes for BSBFIA401A Prepare Financial Reports subject that forms part of the FNS40210 Cert IV in Bookkeeping course and certification.

Topics included in this course will include training on how to

  • Prepare an asset register or property, plant and equipment, determining the depreciation calculation for these assets and keeping a depreciation schedule
  • Adjust expense and revenue accounts for prepayments and accruals
  • Adjust ledger accounts for inventory and transfer to final accounts
  • Create journal entries for balance day entries and prepare final general ledger accounts to show gross and net profits for the reporting period
  • Prepare revenue statement, balance sheet and cash-flow statements

MYOB Q&A Support

We’ve modified each MYOB Training Course to clearly indicate where you can ask our resident MYOB expert a question specific to your needs and your circumstances. The MYOB Q&A Support service was announced back in May 2011 and it’s just one way that we try to give you the best MYOB Training experience for a fixed price and LIFETIME training access!

Profit and Loss Report

Does that sound familiar? It WAS also called the P&L Report, but as our country marches in time with new international accounting standards we join the rest of the world in calling it the Income Statement. An Income Statement tracks revenues and expenses during a given period. The difference between the revenues and expenses represents a net loss or gain and Income Statements provide business owners with an understanding of the health of their business.

We’ve included our introductory video here: