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CSS Stylesheet
importhttps://maxcdn.bootstrapcdn.com/bootstrap/3.3.7/css/bootstrap.min.css
 
CSS Stylesheet
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font-size:28px!important;
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Where to begin

The following is a list of tasks we suggest you complete at the end of each period (month, quarter, etc.). Depending on the nature of your business, some of these tasks may not apply to you. Consult an accounting advisor (such as your accountant) if you require help with your

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end of period tasks.

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End of financial year

At the end of each financial year, there are additional tasks you need to complete before locking the period. For more information, see

Year-end tasks.
TaskSee
Reconcile transactionsReconcile transactions
Review reportsReports
Send customer statementsCustomer statements
Record depreciationAbout depreciation accounts
Lodge your activity statementLodge your activity statement
Lock periodsLocking periods

End of financial year in Australia or End of financial year in New Zealand.

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Reconcile transactions

Reconciling makes sure your MYOB Essentials bank records match the records kept by your bank. Doing this regularly helps your business records to stay accurate. At the end of each month, you'll need to compare your transactions to see if there are any that are still unmatched. 

The way that you do this will depend on how you receive your bank or credit card statements.

If you use bank feeds or import bank statements, you'll only have to reconcile any transactions that MYOB Essentials couldn't automatically match.

If you're only receiving paper statements, you'll use these to check your transactions instead.

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Review reports

MYOB Essentials allows you to create detailed reports about any area of your business. You can use these reports to gain valuable insight into customers, stock items or even employee pay. 

You can produce these reports to view for yourself on your computer, print them or even save them as PDFs for safekeeping. 

Depending on the type of report you create, you'll be able to specify the details you want such as a range of dates or type of contact. Reports are grouped into five categories: businessbankingpayrollsales and bills.

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Send customer statements

Make sure your customers are kept in the loop by providing them with up to date customer statements. You can view each customer's balance and see all the invoices they have—or haven't—paid for.

If you've updated their contact details with their email address, you can send them their statement right from MYOB Essentials. If not, you can still print a physical copy of any statement to deliver to them however you like. 

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Record depreciation

Vehicles and equipment owned by your company will lose value as they age—this is called depreciation. To record this, you can allocate part of the cost of vehicles and equipment as an expense to your business each year you benefit from their use. 

There are several methods of recording depreciation. Consult an accounting advisor (such as your accountant) to see which method is best for your business. 

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GST Report pageImage Added

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Lodge your activity statement

MYOB Essentials can help you lodge your activity statement by providing you with information about your business's GST over a specific period. There are several different GST reports available to you to help you prepare your BAS (Australia only) or your GST return (New Zealand only).

Once you've made sure your GST settings are correct, head over to the Business reports section in MYOB Essentials to get started.

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Need help with this task?

Consult an accounting advisor (such as your accountant) or consider inviting them to access your MYOB Essentials business. For more information see Invite your accountant.

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Lock periods

After you've completed all of your month-end tasks, you should lock that period so that you're ready to start the next one. By locking the period, you'll prevent anyone from inadvertently creating, editing or deleting transactions in a period in which you don’t want transactions to be modified.

If you need to make any changes to a locked period, you can unlock the period at any time.

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