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A Melbourne bookkeeper explains how to use MYOB bookkeeping services for personal finances

A Melbourne bookkeeper explains how to use MYOB bookkeeping services for personal finances

By |2020-11-03T06:05:31+00:00March 20th, 2020|Blog|0 Comments


While we may be small business bookkeepers first and foremost, there’s nothing stopping you from also using the power of cloud bookkeeping platforms like MYOB to do your personal bookkeeping and accounting, either!

Raise your hands if you haven’t found yourself in a tight spot because you lost track of your personal finances.

For some of us, it’s because there wasn’t a quick, easy-to-use system of tracking your personal finances.

For these people in particular, MYOB is a lifesaver!

And today, our cloud bookkeepers in Melbourne will explain why that’s the case.

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Using MYOB Essentials for your personal bookkeeping

Create a simplified personal budget

Step #1 in securing your personal finances? A personal budget.

And with MYOB Essentials, you can do just that.

Preparing a budget is simple. Just click ‘reports’ and create a budget that includes categories for all of your personal spending.

Compared to budgeting the old-fashioned way, MYOB makes this process WAY easier.

Once you’re set up, you’ll be able to easily compare your actual figures to your household budget side-by-side, in a table, or in a graph format.

What’s more, you’ll also be able to see where spending spiked, and take measures to bring your spending back under control.

Track your personal expenses easily

Is your current system a mess of spreadsheets and printouts? Do you find yourself struggling with a major headache every time the time comes to check your finances or make an edit?

If so, you aren’t alone. Messy records are the bane of all of us, and we aren’t just saying that because it makes our job more difficult!

Once you transition to MYOB however, you’ll never have to worry about this again.

Data entry with MYOB is simple – just enter your details into the appropriate field and you’re good to go.

In fact, it can even be automated altogether!

MYOB can be set up to sync with your bank account. Your spending is automatically tracked in MYOB without you having to lift a finger.

That isn’t the only thing that’s automated, either – MYOB Essentials can also be set up to automatically generate reports, allowing you to keep on top of your personal finances.

Of course, you’ll need to clean up your accounts first before importing them to MYOB. If you’re struggling with that, be sure to call a cloud bookkeeping specialist.

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Simplify your tax obligations

Keeping up with your tax obligations can be difficult. But it doesn’t have to be that way.

Sure, individuals have it a lot easier than businesses do. After all, your income tax is calculated (and paid) by your employer, and GST is automatically included in every purchase.

That having been said, there will still be circumstances where you might have to manually calculate taxes.

Not really a numbers person? Luckily for you, MYOB will automatically tell you how much you owe.

MYOB keeps an updated list of taxes in its system. When you manually enter a transaction in MYOB, all you have to do is click the drop-down and choose the relevant tax (for most individuals, GST is probably the only one you’ll ever need to worry about).

Once that’s done, MYOB calculates the amount owed!

Access your personal finances on-the-go

That’s the power of cloud bookkeeping right there!

Cloud bookkeeping solutions like MYOB allow you to access your bookkeeping wherever you are. No need to install anything on your computer, check your filing cabinet at home or book a meeting with your accountant.

With MYOB, all of your finances can be accessed remotely. No need to leave the home anymore – you needn’t even get out of your seat, thanks to MYOB’s mobile app.

You don’t have to wait until you have all the printed details to make a big financial decision in your personal finances.

MYOB is easily accessible wherever you are. Access all your financial information and accounts even on-the-go with the use of any internet-enabled device.

MYOB is a cloud bookkeeping software that lets you collaborate with your bookkeeper without having to arrange a one-on-one meeting frequently.

Enjoy an accessible, user-friendly, hassle-free and error-free bookkeeping with MYOB.

Manage your personal finances with MYOB

Contact Maximum Business Solutions’ cloud bookkeepers in Melbourne to get set up

It isn’t just businesses who can benefit from the power of MYOB – it’s also the perfect tool for individuals who struggle to keep up with their finances otherwise.

Does that sound like you? If so, call a cloud bookkeeper in Melbourne to help you transition to the cloud!

Simplify your tax, household spending and personal finances with MYOB’s flexible and accessible cloud-based system. Say goodbye to disorganised spreadsheets and hello to a more detailed, advanced, and accessible personal bookkeeping system.

Maximum Business Solutions is an MYOB partner that can help you make the jump to the cloud. 

Our cloud bookkeepers in Melbourne will help you wrap your head around the system, either in-person or via Skype.

A cleaner, simpler way of doing your personal finances isn’t far away – all you need to do is give our MYOB bookkeepers in Melbourne a call on (03) 9589 012 or fill in the form to see how we can help you!

You can also visit us for bookkeeping service in Melbourne: pop into our office at 13 North Concourse, Beaumaris 3193.