Accounting software company MYOB pushed through a number of minor updates to its cloud-only accounting program for micro-businesses and sole traders, LiveAccounts. The list of updates aimed at increasing the efficiency of the accounting program and included the following improvements:
Editing reconciled transactions
A client or their business advisor (partner) could now change certain fields within a reconciled spend/receive money transaction.
Workflow improvements within spend/receive money include:
• “Save and add another” button to save time in manually entering multiple transactions
• Improved tabs in Google Chrome and Mozilla Firefox browsers
• Expanded grid within transactions to easily see all the transaction information
• Inclusion of an auto populate total column.
Allocated Friday transactions
Previously, a transaction made on a Friday, such as a purchase on a company credit card, was received in LiveAccounts the following Monday morning, along with transactions made on Saturday and Sunday. With the update, Friday transactions appeared on Saturday morning, while transactions made on Saturday and Sunday appeared on Monday morning.
More detailed transactions
More information on spend/receive money transactions could be seen within the description field such as company/supplier details to help match allocations.
Cash basis Profit and Loss Statement report
LiveAccounts clients and partners could now produce a cash basis Profit and Loss statement report. The report showed balances when cash was paid or received, instead of when users issued invoices or expenses.
Copy templates in Chart of Accounts
As well as the standard LiveAccounts templates for different business types, advisors could save setup time by choosing the Chart of Accounts from any existing business as a template. A user could copy the template for a chart of accounts from another LiveAccounts business within their Admin Centre.
Several performance improvements have been made to the Contacts list, including a redesigned Contacts page to make it easier and faster to view and enter contacts’ details.
LiveAccounts had more details including release notes on its customer support page.
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