Myob Software Analysis Assignment

Running head: MYOB EXERCISE
MYOB exercise
Name of the Student
Name of the University
Author Note

MYOB EXERCISE
Table of Contents
Introduction:...............................................................................................................................2
Discussion:.................................................................................................................................2
Outlining the specific functions of MYOB software:................................................................2
Identifying the issues of a manual accounting system:..............................................................3
Identifying the benefits of using an online accounting software tool:.......................................3
Usefulness of MYOB software in specific economic transactions at Direct Imports:..............4
Risks in implementing MYOB:.................................................................................................5
Conclusion:................................................................................................................................5
References list:...........................................................................................................................7

MYOB EXERCISE
Introduction:
The report is prepared to conduct analysis of case study of Direct Import that is a
distributor and wholesaler and specializes in musical instruments, pro audio and electronic
equipment. For the stock invoicing, the company relied on manual system and such system is
facing the issue and calls for updating so that a high level of service is continued to be
provided. In this regard, the benefits and specific functions performed by MYOB software is
outlined in the report.
Discussion:
Outlining the specific functions of MYOB software:
 MYOB software helps in tracking the database of customer and suppliers and the
database of MS access runs the information on products, inventory, suppliers and
customers.
 The most complex payrolls can be accessed using the MYOB software as all the
reports required by the management can be generated and it also helps in ensuring that
correct amounts are paid to the staffs and updating the management about all the
requirements of tax (Feng 2016).
 Provides assistance in managing the invoices, quotes and statements and making the
acceptance of payments using invoice. Any information that is required to be fed to
the banks is done by the software by syncing credit cards with the bank account.