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Home / Posts tagged “MYOB Account Right Live”

Tag: MYOB Account Right Live

Posted on August 16, 2013August 16, 2013 by Steve Slisar — 1 Comment

Case Study: Using MYOB for Expenses in Real Time with Cloud Accounting Software

Having access to more information about their business helped this couple climb from just breaking even to owning two stores.
Having access to more information about their business helped Cheryl and Jim climb from just breaking even to owning two stores.

We recommend MYOB Account Right Live in all of our MYOB training courses — not because it’s the latest version of the hugely popular MYOB software — but because it gives business owners the kind of data they need to run their business efficiently and securely.

We have previously blogged about how cloud accounting software now makes it so much easier for you to start a bookkeeping business from home; but it can also help existing business owners operate and grow their businesses.

Perhaps the biggest bonus with cloud accounting software is that you have access to information about your profits and expenses in real-time. This is enormously useful for small businesses to constantly track how they’re going and make any necessary changes.

From a Break-Even Bakery — to Owning 2 Successful Stores

We decided to take a look at how one business owner grew a moderately successful business into a totally thriving one by using cloud accounting software to track their expenses.

**

Cheryl and her husband, Jim, operated a small neighbourhood bakery in a busy block of local shops. Jim was the baker and pastry chef in residence, while Cheryl, who had previously worked as an account executive at an advertising firm, managed the office side of the business.

“I was used to budgets and targets, so it made sense that I would handle the admin side of the business,” Cheryl tells us. “But, coming from a large-scale ad agency, I had been spoilt for choice in the way of CRM and other software that tracked my sales in real-time,” she says. “I didn’t have any of that with the bakery. Just an outdated version of MYOB!”

Cheryl and Jim estimated that it would take them about a year before they would start to see any real traction with the bakery, but a year had come and gone, and they were still just breaking even.

“Jim would come in and go ‘we had a great day today, heaps of customers’ but at the end of the month we were still struggling with all the expenses, paying our staff and trying to pay ourselves a wage too,” Cheryl says. “Finally I asked my accountant what was going on and he just said ‘update your MYOB,’” she says.

Cheryl says that having access to data they had previously only received once it was too late was a game-changer. “This sounds funny, but I could see we were spending all this money on flour, but our sales didn’t reflect a need for it,” Cheryl laughs.

“Finally I asked my accountant what was going on and he just said ‘update your MYOB,’” Cheryl says.

“I asked Jim if he was over-ordering because that seemed like the logical answer, but he said he only ordered what was needed,” she says. “This led me to do some investigating.”

What the Data Revealed

Jim would bake an average of 75 loaves of bread a day, but sales records in MYOB showed they old sold an average of 40 loaves a day; Jim was baking twice as much bread as he needed and all left-over stock was thrown out at the end of the day.

“We were literally throwing our money away,” Cheryl says. “But it was a learning curve.”

Before long Cheryl and Jim implemented various other systems to track their stock, so they could better manage their expenses. Within a year, Cheryl and Jim had completely turned their business around.

“Now we have two shops,” Cheryl says. “Where before we struggled keeping just the one going. Being able to see what we were spending as we were spending it — that changed everything.”

***

Don’t run your business blind; use cloud accounting software, like MYOB Account Right Live, which allows you to see your accounts in real-time, safely and securely. Our MYOB training courses will get you up-to-speed with everything MYOB. Enrol today.

Categories: Clients, Cloud Accounting, Cloud Computing, MYOB Training Courses, News
Tags: bookkeeping, MYOB, MYOB Account Right Live, myob bookkeeping, MYOB training, myob training course, MYOB training courses, small business accounts, Small business expenses, start a business
Posted on June 15, 2013June 13, 2013 by Steve Slisar

The Cloud Saves Energy, Is Good For The Environment

Cloud computing is better in so many ways.
Cloud computing is better in so many ways.

We often talk about the benefits of studying an MYOB course online or how using cloud-based accounting software to telework benefits employees and employers, but we don’t often discuss the benefits of cloud computing to the environment.

A recent study commissioned by internet giant Google and carried out by Lawrence Berkley National Laboratory in the US, found that if the entire US workforce moved into cloud computing — where employees would now work from their home offices — it could save up to 87 percent of the energy used to power IT systems. That’s enough energy to power the entire city of Los Angeles for a year.

Using the Cloud Means Going Green

For Google, this showed just how great the energy saving potential of the internet is — something we’ve often discussed in posts about operating a home-based or virtual bookkeeping business.

In fact, the Green Factor is another reason why we moved all of our training materials and content online in 2007; it meant we would no longer have the costly overheads of powering physical training centres (and adding to our carbon footprint), allowing us to deliver the same high quality training courses at a lower price.

Of course, being an internet company, Google only looked at the IT energy savings to be had if every worker in the US began working from their home offices. They didn’t look at the potential knock-on effect this would have when two or more people in a household were both working from home.

The Communal Office

So while saving some 23 billion kilowatt-hours in energy is a massive feat, we wonder how much of that energy would be reinvested in individuals’ upsizing their homes or renting office spaces once working at home with the whole family became more distracting than it did productive? Perhaps, then, a chain of communal office spaces might become the next McDonalds of the digital world?

***

Regardless of whether it’s a saving of 23 billion kilowatt-hours of just 23 kilowatt-hours, increasing our energy efficiency and reducing our carbon footprint is always a good thing; cloud-based software and studying online goes along way to doing just that.

Categories: Clients, Cloud Accounting, Cloud Computing, MYOB training course, MYOB Training Courses, News
Tags: bookkeeping, cloud accounting, cloud computing, home based business, MYOB Account Right Live, teleworking, Work from home
Posted on May 29, 2013May 29, 2013 by Steve Slisar — 1 Comment

Why You Should Be Connected To the National Broadband Network

Where do you live? If you live on the east coast of Australia, there’s a good chance the National Broadband Network (NBN) is already available in your area, and if you’re not already connected, you should be. With high-speed internet piped straight into your home, completing one of our online MYOB courses or operating an home-based business that uses cloud accounting software like MYOB Account Right Live is a cinch.

The NBN will make it possible to share and upload files to online storage software like Dropbox and it will become commonplace to video conference with people locally and internationally. Further, slow download and upload times, or choppy video that stalls and jams will become a thing of the past.

Screen shot 2013-05-25 at 5.26.46 PM
The NBN is currently available in these Australian cities.

The Growth of the NBN

However, according to the NBN Co, in December 2012 it was estimated that there was already some 34,500 homes connected to the NBN — out of the 758,000 homes and businesses where the NBN was already available, mind you. This is means there’s a great deal of Australians not connected to the NBN when they could be. The map on the right shows the areas of Australia where the NBN service is currently available. (You can find out more information on whether the NBN is available in your area by click on the map of visiting the NBN website.)

The advances in the education, business and even health industries, created by the NBN will be limitless. In the education space, particularly in the area of e-learning, online videos will become the delivery method of choice — and later, even live conferences between students and teacher. Though online video is being used more regularly than it was just five years ago, it’s not being used to its full capacity. But the NBN will change all of that; so you can say goodbye to reading an endless scroll of text on a webpage or printed learning materials.

Opening up the Use of the Cloud

The NBN also gives small businesses the ability to streamline their processes and procedures — previously reserved for large organisations that could afford the cost to implement them — with cloud-based softwares that make working with people from different sites, sharing data and even storing data, quick, easy and (importantly) viable — which accounting software like MYOB is already doing.

***

So if you haven’t done so already, find out if the NBN is available in your area (click on the map above to find out if your home can be connected to the NBN). If it turns out the NBN is available to your home the next step is simple: contact one of the NBN’s preferred service providers (a list is available on their website) who can help you make the switch; from there, it’s all systems go — you’ll be connected to a world of possibilities.

Categories: Business Courses, Cloud Accounting, Cloud Computing, MYOB Training Courses, News, Start a bookkeeping business
Tags: cloud accounting software, e-learning, home based business, MYOB Account Right Live, MYOB training courses, national broadband network, NBN, online learning, online storage, start a business, teleworking, video conferencing
Posted on May 21, 2013May 21, 2013 by Angela — 3 Comments

Stop Living in the Dark Ages and Start Using a Cloud Accounting Software

Cloud accounting software
Come out of the cave and into the Cloud.

In the dark ages when technology was primitive, the fear of losing data left people in a constant state of printing. Archive-box-after-archive-box was filled with printouts and photocopies so that, in the event of a system crash, records could be easily re-entered — after first wading through archive-box-after-archive-box filled with printouts and photocopies to retrieve the lost data, of course. Now, thanks to cloud accounting software, that’s all changed.

Cloud Accounting Stops the Fear of Crashing

We’ve recently blogged about some of the benefits of cloud accounting software (namely avoiding the commute on cold, winter mornings!) — but two of the other great benefits are no longer having to live your life in fear of a system crash and those dreaded three little words: did you back up? Nor do you have to house a labyrinth of archive boxes filled with enough paper to blanket a small country.

Cloud accounting software backs up all of your data and stores it on an online server, so if you change computers or (heaven forbid) your computer crashes, it won’t require a computer genius to retrieve your important information — just a username and password. Plus, most cloud accounting software — like Reach, Xero, FreshBooks and Zoho — is accessed through a web browser, which means you can access your accounts from any device, anywhere.

MYOB Account Right Live and the Cloud

The only exception is MYOB Account Right Live (which, by the way, we also teach online). With MYOB Account Right Live, before you can access any data stored in the MYOB cloud, the software must first be installed on a main device. However, by having the MYOB software installed on your computer you can safely “check out” a client file to work on offline. By checking out a file, other users are then only able to view a “read only” file, so you don’t have to worry about whether another user will update the same file you’re working on.

It’s worth nothing that this option of working on a file offline is limited only to MYOB Account Right Live and isn’t available on other web-based cloud accounting software — FreshBooks does allow you to download a file to work on, but this doesn’t stop another user from updating the file in the cloud at the same time.

***

In short, using cloud accounting software offers you enormous flexibility. By using a cloud-based accounting package, you’ll put an end to the printing and hoarding of hardcopy files, or worrying about hard drives and backing up. Instead, you’ll have piece of mind that all your data and important information is stored safely on an online server, accessible at any time. Sounds good, huh?

Categories: Cloud Accounting, Cloud Computing, News
Tags: cloud accounting software, cloud-based accounting software, MYOB, MYOB Account Right Live, myob course, MYOB training, start a bookkeeping business, Work from home
Posted on May 15, 2013November 5, 2019 by Angela — 7 Comments

You Can Start a Bookkeeping Business with Cloud Accounting Software

As the mornings get colder, darker and less inviting, getting up to go to work is that much harder. But what if you didn’t have to get up at the crack of dawn and commute into the office? What if you operated your own bookkeeping business from your home office? With cloud accounting software like MYOB Account Right Live — you can. (If you’ve never used MYOB Account Right Live before, our MYOB Training Course will help you get up-to-speed.)

The Rise of the Cloud

Although cloud computing has been around since the mid 2000s, its use had largely been limited to those companies with access to high-speed Internet; your average sole trader using cloud-based accounting software was rare, confined mainly to contract IT experts.

But as time went on, access to high-speed Internet connections increased — and will increase even more when the NBN rollout is complete — which made cloud computing more easily accessible for individuals working from home; even bookkeepers.

MYOB entered the cloud accounting space in 2012 with their MYOB Account Right Live software that still looks and feels the same as their hugely popular offline versions, but with the added benefit of using an online storage server.

Benefits for Bookkeepers

Cloud accounting software is making it easier to work from home.
Cloud accounting software is making it easier to work from home.

In moving their software online, MYOB’s intention was to make bookkeeping easier for the business owner, but MYOB also made it easier for a bookkeeper to access their client’s accounts. It also made operating a home-based bookkeeping business easier, too.

[quote]You’ll be pleased to hear that our Small Business Management Training Course has a slant towards operating a business from home using the latest internet based services like Google, WordPress and more..[/quote]

For bookkeepers one benefit of having their client’s accounts online is that they don’t have to physically go to their client’s place of work; instead, bookkeepers can login to their client’s accounts from their own home or office.

The ability to work offline (known as “checking out”) also means that if your Internet connection is down, you can still keep working as normal; once you connect to the Internet again, MYOB syncs the data with the version stored in the cloud.

***

For bookkeepers, cloud accounting software like MYOB Account Right Live makes operating a home-based bookkeeping business a more convenient career option — in more ways than one. Avoid cold mornings and the long commute; start a bookkeeping business.

Categories: Cloud Accounting, News, Start a bookkeeping business
Tags: bookkeeping business, cloud accounting, home based business, MYOB Account Right Live, MYOB Bookkeeper, start a bookkeeping business, Work from home

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