Child pages
  • Using multiple businesses


 

 

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If you own more than one business, you can manage them using just one MYOB Essentials user name. This means you can add new businesses or switch to working with a different one whenever you're logged in.

 

Each MYOB Essentials business needs its own subscription, and other users can be added to each business. What's the cost of a subscription?

To add a new business to MYOB Essentials

To add a new business to MYOB Essentials

  1. Click Switch businesses at the top of any MYOB Essentials page.
    Switch businesses link highlighted
    A list of your MYOB Essentials businesses appears.
  2. Click Add Business. An Add business section appears.
    add business page with empty fields
  3. Enter the details of the business you're creating and the name of its contact person.
  4. Choose the Business Type for your business. This determines the set of default accounts that MYOB Essentials will create for you. See the FAQ below for more info.
  5. Click the Terms of use link to make sure you agree to the terms. By adding the business, you're agreeing to these terms.
  6. Click Add business and go to dashboard. The business is added, and its dashboard appears.
    If you want to switch back to the business you were originally working on, click the My businesses link at the top of the page.
To switch from one business to another

To switch from one business to another

If you've added more than one MYOB Essentials business, every time you log in to MYOB Essentials the My businesses page will appear first so you can choose which business you want to work with in this session.

You can also switch businesses at any time as follows:

  1. Click Switch businesses at the top of any MYOB Essentials page.
    Switch businesses link highlighted
    A list of your MYOB Essentials businesses appears.
  2. Click the name of the business that you want to work with in MYOB Essentials. The Dashboard appears, displaying details for the selected business.

  FAQs


What are the default accounts lists for each business type?

What are the default accounts lists for each business type?

All accounts lists provided by MYOB Essentials include the same set of standard accounts, plus some extra accounts tailored for the specific business type. For example, a business that sells products will have a Cost of Sales account for Raw Materials, and a business involved in agriculture will have an expense account for Pesticide.

System accounts

System accounts are required by MYOB Essentials, and will be created even if you choose not to use one of the accounts lists provided by MYOB Essentials. You can’t delete these accounts.

  • Asset accounts: ABN withholding credits, Accounts receivable
  • Liability accounts: ABN withholdings payable, Accounts payable, GST collected, GST paid, PAYG withholdings payable, Payroll deductions, Superannuation payable
  • Equity accounts: Income tax, Historical balancing, Retained earnings, Current year earnings
  • Expense accounts: Discounts given, Superannuation expense, Wages & salaries, Discount received.

Standard accounts list

All accounts lists provided by MYOB Essentials include the following accounts, plus additional accounts depending on the business type:

Account type

Accounts included
Asset
  • Banking accounts: Cheque account, Petty cash, Savings account
  • Current Assets accounts: ABN withholding credits, Accounts receivable
  • Fixed Assets accounts: Furniture & fittings, Motor vehicles, Office equipment & computers, Plant & equipment.

 Liability

  • Credit Card accounts: American Express, MasterCard, Visa
  • Current Liabilities accounts: ABN Withholdings payable, Accounts payable, Annual leave payable, GST collected, GST paid, PAYG withholdings payable, Payroll deductions, Personal leave payable, Superannuation payable
  • Long Term Liabilities accounts: Bank loan, Other loan.

Equity

  • Equity accounts: Owner contribution, Owner drawings, Income tax, Historical balancing
  • Retained Earnings accounts: Retained earnings
  • Current Earnings accounts: Current year earnings.

Expense
  • Accounting fees, Advertising, Bank charges, Discounts given, Electricity & gas, Insurance, Interest paid, Internet, Lease of equipment, Motor vehicle expenses, Office supplies, Postage & courier, Printing & stationery, Rates, Rent, Repairs & maintenance, Sub contractors, Sundry expenses, Superannuation expense, Telephone, Travel & accomodation, Wages & salaries, Water, Work cover insurance.

Other Income

  • Discount received, Interest income, Other income.

Other Expense

  • Other expenses.

 

Additional accounts for each business type

In addition to the standard set of accounts, the accounts list for each business type includes the following accounts:

Business typeIncludes...

I sell products

  • Income accounts for Sales
  • Cost of Sales accounts for Freight, Packaging, Purchases and Raw material.

I sell services

  • Income accounts for Fee income and Licensing income

I sell products & services

  • Income accounts for Sales, Fee Income and Licensing Income
  • Cost of Sales accounts for Freight, Packaging, Purchases and Raw material.

I work in building & construction

  • Income account for Construction, Renovation income and Service & repair income
  • Cost of Sales accounts for Building contract insurance, Building material, Contractor costs, Freight, Hire of equipment.

I work in agriculture

  • Income accounts for Grain income, Livestock income, Produce income
  • Cost of Sales accounts for Feed, Fertiliser, Freight, Pesticides, Purchase of livestock and Seed
  • Expense accounts for Breeding expenses, Feed, Fertiliser, Pesticides and Veterinary
How do I cancel an MYOB Essentials business?

How do I cancel an MYOB Essentials business?

To cancel an MYOB Essentials business, you'll need to cancel its associated subscription. To do this, there's a few things we need to turn off at our end.

Give or support team a call and we'll be happy to help. In Australia call 1300 555 111, or from New Zealand call 0800 606 962.

Calling from overseas? Call +61 1300 555 111