GOTW | MYOB AccountRight: Benefits of upgrading to the latest version

Have you been running your MYOB desktop accounting software (MYOB AccountRight v19) for as long as you can remember? Feel like you are missing out on new exciting features that you see other businesses making use of? It could be time to make a change by upgrading to the new MYOB AccountRight. 

What’s new compared with v19

• Save time with smart reconciliation
• Connect your bank accounts with the ability to import transactions daily
• Manage your accounts and cashflow on the go
• The In Tray, a smarter way to manage your bills
• File GST returns with the IRD online
• Send emails straight from AccountRight – no need for Microsoft Outlook
• Take account payments online
• Work online, or not – it’s your choice
• Extend your AccountRight experience with a range of add-ons
• Get frequent updates
• Updated look and feel
• Easier access to your file
• Share your company file with other users easily
• Data is stored on the cloud, making backups automatic and secure, ensuring you never lose your data
• And much much more!!

Bank Feeds 

Bank feeds can be setup in AccountRight so you no longer need to manually enter every payment you make and receive. Your bank transactions can be received directly into your AccountRight file. This makes it easy to reconcile your bank account and match payments made and received to outstanding invoices and bills. You can even create rules so that transactions that happen regularly (such as bank fees) will automatically be coded and reconciled from the statement.

 

 

 

In Tray – a smarter way to manage your bills

Do you currently have folders and boxes of paper that you hold onto, or do you have a tray sitting on your desk with all your supplier invoices awaiting the dreaded 20^th for payment? MYOB have a solution to this, the In Tray. When suppliers email you invoices, they can be emailed directly to AccountRight to appear in the In Tray or uploaded from within the In Tray. This stores these documents securely online, therefore no need to keep all of that paper anymore. From the In Tray, AccountRight uses Optical Character Recognition (OCR) technology to identify key information in each document. Key information includes date, invoice number, due date, amount, supplier name etc. This speeds up the transaction entry as it fills in what it can for you. 

 

 

Email Directly from AccountRight

Emails can now be sent directly from within AccountRight rather than using Microsoft Outlook. This means:

• No email software needs to be installed on your computer
• You can track email delivery status from within AccountRight (you can even see how many times your customer has opened their invoice)
• Customers can view their invoice online

 

Online collaboration 

You have the option of securely storing your company file online. This means you can access your file from anywhere as long as your device has the AccountRight software installed. Multiple users can work on your accounts form multiple locations at the same time.

 

Mobile app-manage your cashflow on the go:

MYOB Invoices is a mobile app that lets you manage your accounts and cashflow on the go. You can invoice and manage your contacts, see who owes you money, and record payments too. Anything you do on your mobile app will automatically sync with your AccountRight company file. The mobile app can be downloaded to iOS and Android devices.

Add-ons:

AccountRight is perfect for taking care of the accounting and reporting requirements of most businesses. To get even more, you can easily extend and build on AccountRight with add-ons that are tailored to your business/industry. Add-ons seamlessly connect to your AccountRight account, there is a big range of add-ons, but you can do things such as:

• Forecasting, and what if analysis
• Integrate with POS systems
• Get access to your information from other apps so you are not double entering key information
• Set up an online store
• Complete online timesheets
• Online job and cost management

The process to upgrade to the latest AccountRight:

Contact BWR Tech Hub to assist you in the process from start to finish.

• Backup of your current AccountRight file is optimised and historical information purged to ensure the file isn’t too large before it is upgraded
• New AccountRight software is installed onto your computer and any other users that require access
• Backup is sent to MYOB to upgrade
• After the file has been upgraded
  
  • Users are added
  • Customised forms and letters migrated to the new format
  • Bank Feeds signed up for
• You are ready to use your new file, and take advantage of the new online features!

Points to note:

• To have the full benefits of upgrading to the latest AccountRight requires a monthly subscription
• If you are already paying a monthly subscription to MYOB then your upgrade will be absolutely free
• If you are currently using the following features you might not be able to upgrade just yet, as these features are not available in the new AccountRight
  
  • M-Powered Payments
  • Multi-currency
  • Negative inventory
  • Multi-location stock tracking
  • Add-ons that require ODBC
• Make sure your computer can run the new AccountRight

 

 

 

 

 

 

 

To discuss the new AccountRight further…

Please contact our in-house guru, Kate

http://www.bwr.co.nz/contact-us#itdept

06 873 8037