To add a new business to MYOB Essentials

1. Click My businesses at the top of any MYOB Essentials page.
   
   A list of your MYOB Essentials businesses appears.
2. Click Add Business. An Add business section appears.
3. Enter the details of the business you're creating and the name of the contact person for this business.
4. Choose the Business Type for your business. This will be used to choose the set of default accounts that MYOB Essentials will create for you. See the FAQ below for additional 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

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:

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

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: 

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: