Using multiple businesses

https://help.myob.com/wiki/x/Qi13AQ

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

You need to subscribe separately for each business

You will need to pay a separate subscription fee for each business you register in MYOB Essentials. For more information about subscriptions see Subscription details.

To add a new business to MYOB Essentials

Click My businesses at the top of any MYOB Essentials page.

A list of your MYOB Essentials businesses appears.
Click Add Business. An Add business section appears.
Enter the details of the business you're creating and the name of the contact person for this business.
Choose the Business Type for your business.
Click the Terms of use link to make sure you agree to the terms. By adding the business, you're agreeing to these terms.
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

If you've added more than one business to MYOB Essentials, 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 using the procedure below:

Click My businesses at the top of any MYOB Essentials page.

A list of your MYOB Essentials businesses appears.
Click the name of the business that you want to work with in MYOB Essentials.
The Dashboard appears, displaying details for the selected business.

Editing or cancelling a subscription

If you need to cancel a subscription or change any details other than the credit card you use to pay for MYOB Essentials, you need contact the MYOB Essentials team by calling 1300 555 111 in Australia, or 0800 606 962 in New Zealand.

Calling from overseas? Call +61 1300 555 111

FAQs

Why do I choose my Business Type?

Select the business type that best describes what your business does. This will be used to choose the set of default accounts that MYOB Essentials will create for you. Note that you won't be able to change your chosen business type, but you'll be able to edit the accounts list later.

Business type dropdown list

For more information about the default accounts lists for each business type, see Default accounts lists for each business type, below.

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 type	Includes...
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

Related topics

Settings

Adding more users or businesses

Invite your accountant

Users

Business details

From the community

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Child pages

To add a new business to MYOB Essentials

To switch from one business to another

FAQs

Why do I choose my Business Type?

Default accounts lists for each business type

System accounts

Standard accounts list

Additional accounts for each business type

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