Which Myob Package

I personally use myob business basics for my private finances (potentially overkill) and my trust with corporate trustee. I have not gone too deep into the standard reports and prefer to dump the trial balance to a spreadsheet/pivot table style management reporting tool I created when I was working for a company that didn’t have very advanced reporting. It really comes down to how detailed you set up your chart of accounts that allows you to break up your management reports or for taxation schedules.

I would be Interested to hear what others use as I labored over which one to get last year. It really came down to what I felt was more popular (ie possibility of dumping data to the accountant) and what you are more comfortable with. All the majors have a free trial so take them for a test drive with their example company. Consider how many transactions you would need to record and how you would feel recording that many transactions in the program you are trying.

Good luck, the more effort you put into setting this stuff up it will make it easier to use in the long run (ie not having to constantly come up with work arounds).

Cheers – Eamon

I have designed my own spreadsheets that I use for my investment property bookkeeping business because I couldn't find any software that did what I wanted.  That is, work out my holding costs before tax, after tax, how much did the property cost me to buy, work out borrowing costs, re-allocate depreciation.  The spreadsheets calulate the holding costs for the total property, for each owner, and for my whole portfolio.  I have designed the spreadsheet so that they match the ATO's Rental Property Schedule – all the tax agent does it inputs the figures.  Too easy!