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If you’ve never used MYOB Essentials before, you need to sign up before you can create your first business. To sign up, go to the MYOB Essentials website: Australia | New Zealand and click Try it free.

Creating additional businesses

If you’ve already signed up for MYOB Essentials but want to create a new MYOB Essentials business, see Signing up another business.

The sign-up page

On the signup page, enter your contact details (email address and phone number), the password you want to use to log in to MYOB Essentials.

Choosing your 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’ll be able to edit these accounts later.

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

Referral or activation code

If you purchased MYOB Essentials from a store, enter your activation code. If your accounts advisor (or someone else) recommended MYOB Essentials to you and gave you a referral code, enter that code. Otherwise, leave this field blank. You’ll be able to use MYOB Essentials for free for 30 days.

When you’re done, click I agree with Terms of Use - Sign me up.

Your business will open, and you’ll be able to set up some of the basic details needed to get started. For more information about these steps, see Basic setup.

Default accounts lists for each business type x

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

Child pages

Creating additional businesses

The sign-up page

Choosing your business type

Referral or activation code

Default accounts lists for each business type x

System accounts

Standard accounts list

Additional accounts for each business type

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