THE USE OF MYOB ACCOUNTING SOFTWARE

FOR MANAGING THE FINANCIAL PROCESS OF MEDIUM INTERPRISE

By
Azza Mafazatun Nufus / 1535010050 / Sem IV-B / SI

A. INTRODUCTION
In this globalization era, technology is growing rapidly. Any business activities associated
with the name of the technology such as the use of software in the works. Use of this software is
very helpful and ease the job of an accountant than the manual way. Because of this, I wrote a
paper about The Use of "MYOB Accounting Software for Managing The Financial Process Of
Medium Interprise. The Objective is to inform about "MYOB Accounting Software for
Managing The Financial Process Of Medium Interprise. Then, the list of main headings of
discussion is:
1. The Explanation of MYOB Accounting Software
2. Financial Process Of Medium Interprise
3. Financial Process Of Management
4. The Management Of Financial Process With MYOB Accounting In Medium Interprise

B. BODY OF TALK
1. The Explanation of MYOB Accounting Software
a. Definition of MYOB Accounting Software
MYOB, Mind Your Own Business, is an Australian multinational corporation that
provides tax, accounting, and other services to medium enterprises. MYOB was founded
in the early 1980s by Christopher Lee and a team of developers at Teleware, Inc., who
developed accounting software.
MYOB Accounting Software is the best value for money accounting software for
medium enterprises. MYOB Accounting system use to manage cash receipts and
expenditures, and to generate the accounting reports for financial reporting purposes.
b. Key Feature of MYOB Accounting Software
MYOB Software has the following Key Features to help manage the bussiness :
Open : Its used to open a file that has been created previously.
Create : Its used to create a file to design new ones.
Explore : Its used to create the file by using the example of the company
What's new : Its used to look for new information regarding the program
Exit : Useful to exit the program

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 c. Functions of MYOB Accounting Software
MYOB Accounting Software has the following functions to help medium bussiness
Account : Its used to create the own chart of accounts.
Banking : Its used to see a running balance of bank account status.
Sales : Easily customise the invoice format, and specific instructions.
Time Billing : Deal management tool for businesses that need tracking the time.
Purchase : Its used to create purchases orders and quotes.
Inventory : Automatically track costs for all inventoried stock items.
Card File : Its used to capture and manage extensive contact information for
customer, supplier, employees and personal contacts.
d. Advantages and disadvantages of the using MYOB Accounting Software
Advantages of using MYOB Accounting Software
Simplifying data entry
Speeding up processes
Automating reports and analysis
Disadvantages of using MYOB Accounting Software
More costly to establish than other systems
Training may be required
Requires a knowledge of general accounting procedures to be fully utilised
2. Financial Process Of Medium Interprise
a. Definition of Financial Process Of Medium Enterprise
Financial Process Of Medium Enterprise is the funding of medium enterprises and
represents a major function of the general business finance market in which capital for
different types of firms are supplied, acquired, and costed or priced. The difference
criteria medium enterprise in Indonesia and abroad :

Indonesia Australia
Net assets of between 500 million and 10 The fixed assets of S$15 million or
billion rupiah (not including land or buildings) less.
Consisting of 20-99 employees. 200 employees or less.
The annual sales of between 2.5 billion and 50 The annual sales turn over is up to
billion rupiah. S$1million

b. The Strategy Of Financial Process Of Medium Enterprise

1. Load : The managing the financial data for multiple periods.

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 2. Analyse : The analysing key business drivers with smart graphics.
3. Strategise : Provides facts and figures to help our plan and set goals.
4. Explore : Doing multiple year forecasts and can create budgets.
5. Report : Reporting a businesss current position, past plans and future goals.
3. Financial Process of Management
a. Definition of Financial Process of Management
Financial Process of Management means planning, organizing, and directing the
financial activities such as procurement and utilization of money of the enterprise. It
means applying general management principles to financial resources of the enterprise.
b. The main activities of Financial Process of Management
1. Planning
The process of preparing things that will be done in accordance with the available
resources. Planning should be developed in a structured and include the entire
details of the organization's activities and strategies to achieve the target.
2. Organizing
The process is done by dividing the activities or plans. Organizing will make it
easier to conduct surveillance and to determine those that have the capacity to carry
out the tasks of the organization.
3. Directing
Directing is a management function which includes the act of giving orders to every
member of the organization in order to achieve objectives according to plan and its
implementation.
4. The Management Of Financial Process With MYOB Accounting In Medium Interprise
a. The Application Of Financial Process With Command-Center Menu
1. Accounts menu, in this menu, we can do some financial process:

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 Transaction Journal by selecting the account list, record a journal entry, and then
the transaction journal. Or transfer money, then the transaction journal
Company Data Auditor by selecting the account list, record a journal entry, then
Company Data Auditor
Send to Accountant by selecting the account list, then Send to Accountant
2. Banking menu, in this menu, we can do some financial process:

Transaction Journal by selecting the register bank, reconcile accounts, and

transaction journal. Or if we need sheets for the purposes of the transaction
journal, we can be a print checks and print / email remittance advices.
Prepare bank deposit by way of bank select register, receive money, receive print,
then Prepare bank deposit
3. Sales menu, in this menu, we can do some financial process:

Transaction Journal by selecting the sales register, enter sales. Then if we need
sheets for the purposes of the transaction journal, we can be print / email
statements and print / email remittance advices, then Transaction Journal

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 Receive Payments by selecting the sales register, enter sales, then the Receive
Payments
4. Time Billing menu, in this menu, we can do some financial process:

Transaction Journal by selecting the activities list, enter activity slips, and prepare
time billing invoice, then Transaction Journal
Activity log by selecting the activities list, enter the slip activity, then the activity
log
5. Purchase menu, in this menu, we can do some financial process:

Transaction Journal by selecting the purchases register, enter purchases, then

Then if we need sheets for the purposes of the transaction journal, we can be print
/ email purchase orders and print / email remittance advices, then Transaction
Journal
Pay bills by selecting the purchases register, enter purchases and then pay bills

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 6. Inventory menu, in this menu, we can do some financial process:

Transaction Journal by selecting the items register, item list, and receive items,
then Transaction Journal
Move items by going to build items, auto-build items, locations, and move items
Count inventory by going to adjust inventory, set prices of items, then count
inventory
7. Card-file menu, in this menu, we can do some financial process:

Create personalized letters by selecting the cards list, print mailing labels, and
then create personalized letters
Contact log by selecting the list and then contact log cards
b. The Implementation Of Financial Process With MYOB Accounting In Medium
Interprise
The Implementation MYOB Accounting Software at PT Nusa Karet Global
PT Nusa Karet Global is the one of a medium interprise from Indonesia that
manages the rubber processing plant, which has a rubber plantation in West

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 Sumatra. The need for rubber in Indonesia and the world that continues to increase,
then PT Nusa Karet Global plans to anticipate the needs of the future by increasing
the production machine and plantations
Firstly, this company having problems in business processes. Then, company
uses MYOB and feel the comfort and continue to be used until now. The company's
problems difficult to show loan data and the work of each group of employees. If
that process recorded manually, it will be inefficiency.
Based on these problems, this company uses the facilities of MYOB :
1. Sales to record the use of logistics by each group and manufacturing bill.
2. Purchases to record purchases from suppliers of logistic and noted the work of
each group in units Rupiah
3. Inventory to record the work or supply work.
4. Card File to record data suppliers and data users

MYOB Software importance for students who already have IT knowledge has been
learned about Accounting Information Systems or students who are beginners to
know this software. Students will receive special expertise. And The student ready
to use in the business world. And then, the importance of using it for society is the
development of the latest information and technology can be followed, they have
competitiveness at both domestic and foreign.

C. CONCLUSION
MYOB Software uses to manage cash receipts and expenditures, and to generate the
accounting reports for financial reporting purposes. MYOB software provides the main modules
namely is Command Center Menu consisting of Accounts, Banking, Sales, Purchases,
Inventory, and Card File. Each of these modules represent each accounting activities such as
journaling, receivables, sales, purchasing and so on. And firstly, the implementation of MYOB
Software in PT Nusa Karet Global, this medium interprise have a problems in business
processes. Then, this company uses MYOB for solve it. MYOB Software importance for
students and the society for getting experience of accounting in the business world.

D. REFERENCES
https://en.wikipedia.org/wiki/MYOB_(company)
https://www.myob.com/content/dam/myob-redesign/nz/docs/NZ_PremEnt_UserGuide.pdf
http://www.managementstudyguide.com/financial-management.htm
https://www.slideshare.net/zarmicc/