Install
Software installation was very simple indeed, the CD auto-ran and the subsequent install was a straightforward Windows installation.
Configuring the software for your company is a 10-step process which was again quite simple and straightforward. To its credit, when setting up your company details, the configuration process flags incorrect formats for say the ACN or ABN-most packages do not check the fields format. The default financial year is July to June but this can be customised as we did for our tests because the RMIT financial year mimics the academic year and runs January to December. Another plus during configuration is the ability to base your intervals at twelve per year; that is, monthly, or as some companies do, run 13 intervals per year with each interval running precisely four weeks. MYOB makes selecting the right account structure for your company very easy with an enormous list of company types which includes video store, vet, dentist, wholesale, and agriculture, for example. We chose consultancy for our exercise.
We were also able to customise the software to include "easy fill-in" a feature similar to Excel or Netscape Navigator for example where MYOB will suggest the remainder of the entry based on previous entry names. We also chose to include variable-sized rather than fixed-sized data fields.
Interface
Upon running MYOB the user is presented with a neat and logical graphical interface that features five function buttons, each with a corresponding flow chart. The flow charts are a great help to someone who is not conversant in "Accounting-speak" as each of the boxes are labelled in clear, layman's terms and the arrows leave no doubt as to the order of execution. To perform a particular function such as "Print Purchases" the user simply clicks on the respective box in the flow chart. The top row of five buttons include general Ledger, Chequebook, Sales, Purchases and Card File.
Running down the right side of the flow chart are a set of "smart" drop down menus labelled To Do List, Find Transaction, MYOB Analysis and Reports. Depending on which of the main functions is selected the menus change to reflect the function.
This style of interface, which is very similar to QuickBooks's by the way, is certainly the most user-friendly we have seen and fits in well with the packages target audience.
Documentation
Documentation for this package is, in a word, superb. We have rarely seen documentation as good as this. The large 474-page User Guide has a detailed table of contents; each chapter is tabbed and has its own detailed table of contents and there is a very detailed index at the rear. The User Guide is well laid out with very easy to read text and clear diagrams and screen shots and, for the nervous novice, the first chapter is entitled "Your First Day" which is then followed by a 47-page tutorial in the second chapter.
In Use
Let's be clear about this: MYOB FirstAccounts is very easy in day-to-day use, but of all the packages reviewed we found it to be the least accomplished. FirstAccounts was really designed for service based industries only, so you won't find inventory functions that even QuickBooks supports. However, there are four main accounting packages in the MYOB suite and the next one up, MYOB Accounting, at AU$399 does include inventory functions.
The package will certainly handle a small business's books but do not expect many bells and whistles. For example, FirstAccounts does have a reasonable array of reports, 80 in total, and GST is amongst them. However, the GST report will quite happily display the tax you have collected and that you have paid but the next rather simple step-how much tax you owe-is not calculated for you (QuickBooks does this).
All your standard tasks like customer management, invoicing and purchasing are handled quite well but you do not get some of the neat little shortcut buttons such as the "Pending" button in sales, a feature supported by Accounting Plus.
With reports such as Profit & Loss and Balance Sheets you are provided with detailed information; up and down arrows are used to expand or contract categories. For example, you can simply have the total of you current assets displayed or you can show it broken down into petty cash, trade debtors, and the like. However, the facility to double click on your sales for the month in your profit and loss statement and open a window displaying all the sales is not available.
Time and billing are not available but the package is able to generate P&L statements for individual jobs and job budget analysis, but job estimating is not one of its features.
Conclusion
For anyone starting off their own small service based business, with the emphasis on small and with limited accounting knowledge, MYOB FirstAccounts would be a darned good starting point. Admittedly, if your company grows you will probably need to upgrade to, say, MYOB Accounting. If you sell a product and need to keep an inventory then FirstAccounts is definitely not for you.
Inside this feature:
| MYOB FirstAccounts | MYOB Accounting Plus |
| QuickBooks Pro 7 | Sage Instant Accounting 98 |
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