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https://help.myob.com/wiki/x/uwhNAQ
You need to choose a ledger based on the type of data your client sends you and whether your client has specific reporting requirements. Once you've picked a ledger, you follow the workflow made for your ledger.
No matter what option you choose, you will be able to work efficiently with your clients' data from various sources to prepare high-quality, compliant financial statements.
MYOB Ledger (AE/AO Ledger)
| MAS, Accounts or AO Classic General Ledger | AccountRight Live or MYOB Essentials |
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MYOB Ledger (AE/AO Ledger) |
MAS, Accounts or AO Classic General Ledger |
AccountRight Live or MYOB Essentials |
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What is it? MYOB Ledger is MYOB's latest online ledger option. It's your practice’s in-house copy of your client’s ledger. Good for using with clients who are not reporting entities. | What is it? This option is like using an enhanced version of the tools that you're used to. Keep working with your existing MAS, Accounts or AO Classic General Ledger, but with the added capabilities of the Client Accounting Workpapers module. The Workpapers module lets your practice create consistent workpapers using built-in industry standard templates. | What is it? If your clients have an AccountRight Live or MYOB Essentials file, you can share a Common Ledger. |
Why use it?MYOB Ledger lets you enjoy a consistent experience with the full suite of modules and tools that Client Accounting offers. MYOB Ledger does this by removing the need for your MAS, Accounts or AO Classic General Ledger, so you can work completely in Client Accounting. MYOB Ledger is perfect for when your client doesn’t need to get involved in the data entry, or when you don’t need direct bankfeeds . | Why use it? | Why use it?A Common Ledger lets you collaborate with your clients and start advising them in real time. |
How does it work? Perform a one-off migration of your existing MAS, Accounts or AO Classic General Ledger to bring across your ledger details, chart of accounts and balances for the last five years. For new clients, you can create a new MYOB Ledger. You're then ready to add data, substantiate balances and produce financial statements in Client Accounting. | How does it work? Use Workpapers to do your reconciliations and journals entries. Perform all your-end tasks such as adjusting journals, linking source documentation to accounts and performing electronic approvals. When you're ready to print a financial statement, post your movements back to your existing MAS, Accounts or AO Classic General Ledger and print as usual. | How does it work? Connect to the AccountRight or Essentials online file by linking to the file in Client Accounting. Your clients’ data will sit securely in the cloud and you can work with the live data in Client Accounting. Because you're working directly with your clients' files, you don’t need to use MAS, Accounts or AO Classic General Ledger. |
Compatible Client Accounting modules
If you use BankLink Practice and you have a MAS ledger, you can now integrate with MYOB Ledger. See the MYOB BankLink Practice integration workflow (Australia only). | ||
Prerequisites
| Prerequisites
| Prerequisites
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Check out this intro video to understand how MYOB Ledger works. |
Pick a ledger workflow!
You don't need to stick to one workflow for all your your clients. You might need to use one workflow to meet the requirements of one client, and another workflow for a different client.
If your client uses... | More info... | We recommend you use... |
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MYOB AccountRight | AccountRight version 19 or earlier. | |
Third-party software | If your client doesn't use MYOB bookkeeping software. | |
Paper or non-electronic files | If your client doesn't use any bookkeeping software ("shoe-box" clients). | |
Reporting entities | If your client needs to produce financial reports. | |
Special reporting requirements | If your client has highly-customised or unique reporting requirements. | |
Consolidations | If your client needs financial statements for a parent company. | |
MYOB AccountRight Live | AccountRight version 2013.0 or later. If your client uses AccountRight Live, you can work directly over your client's live data using one Common Ledger. | |
MYOB Essentials | For clients on MYOB Essentials, you can work directly over your client's live data using one Common Ledger. However, if you prefer to work on your practice's copy of the ledger, you can use the MYOB Ledger or MAS, Accounts or AO Classic General Ledger options. |