Foreign currency management tends not to be a feature of small business accounting systems necessitating the use of spreadsheets on the side for data manipulation and then double entry back into the accounting system. Similarly, importing goods from the overseas mean that landed costs need to be accounted for, and exporting goods needs exchange rates to be calculated, both of which aren’t a standard feature of small business accounting systems. ERP systems have in-built foreign currency and landed costs functionality.
Job/Project Management in MYOB Advanced
Any sort of job or project management requirement that necessitates the use of budgets; resource allocation, scheduling, and tracking; sub-contracting, progress invoicing or timesheets will not be able to cater to by small business accounting systems. Most ERP systems have job costing or project management modules which can easily cater for these requirements.
MYOB has a range of enterprise-grade solutions that cater for growing businesses. MYOB EXO Business is an on-premise ERP solutions and MYOB Advanced Business is a cloud-based ERP solution whilst MYOB PayGlobal can cater for the payroll and HR needs of larger businesses.
For further information on any of these solutions please contact us.