MYOB – EOFY – End of Year Financial Business Accounts – MYOB Account Right & Essentials

MYOB – EOFY - End of Year Financial business accounts – MYOB Account Right & Essentials
EOFY – End of Year Financial business accounts – MYOB Account Right & Essentials

MYOB have plenty of resources to assist you organise your books for your accountant, but more importantly for you to have an accurate set of accounts to UNDERSTAND and gain INSIGHT to MANAGE your business BETTER! Your books and accounts are a treasure-trove of information that tell you about the health of your business and what areas you can work on to improve your business financial results!

1. EOFY – End of Financial Year Key Dates – Tax Time Planner

A great tool is this calendar where you can select the date to see key compliance tasks and actions that need to be taken – click this image – (you can also download a PDF of the key dates below it).

MYOB EOFY calendar2020

2. MYOB Account Right –

There are End-of-year procedures that need to be carried out to prepare your company file for the coming year. By reconciling and completing the year in your company file, you are effectively bringing the company file up to date.

These include any adjustments you need to make to your company file so that it agrees with your accountant’s final records before you start a new year.

Your payroll, invoices, purchases statement reconciliations as well as finally your inventory should be counted, valued and, where necessary, adjusted in your company file.  Here is a video about Year End in Account Right

MYOB YE AR Youtube(1)

The MYOB End of Period page is where you begin. The resources include end of Month, Financial and Payroll Year things that you should do. Overall it’s about checking the accounting records to ensure they are complete, accurate and reconciled to key support documents such as bank and credit card statements.

Other helpful Links

3. MYOB Essentials –

Users of MYOB Essentials, see the end of year video on what to do. You can also find  FAQs and The Help Centre there.

MYOB YE Essen Youtube(1)

4. Software Upgrades

You will be able to download the current update directly from Updates within the MYOB Account Right software in many versions, or from this page.

5. Want help with upgrading?

Do you need to talk about what is available without obligation or any pressure? Then call Paul! 0407 361 596

Get a FREE 30 min answer to your query, and FREE ongoing email or phone support – No-one offers as much! Call and you also get FREE “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right! Email or call 0407 361 596 Australia

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