Installing First Accounts was extremely easy. The package comes with the usual user manual but also includes a 30-minute video that provides an overview of the GST Business Activity Statement, and a booklet listing accredited MYOB consultants whom you can contact should additional support or services be required. The program takes you through a wizard that asks questions about your business and allows you to set up things like the beginning of your financial year and any opening general ledger or customer balances. You can elect to use a predefined chart of accounts for your general ledger, or set up your own.
The interface adopts the flowchart approach to show you the steps that need to be followed to get transactions into the system. First Accounts operates from a command centre that shows the modules available to you across the top, below which is a flow chart of the sub-modules and how they hang together. This helps to orient you within the program.
Entering data like a sales invoice or a purchase order is very easy. Data lookup can be easily accessed, so, for example, a general ledger code can be checked when you get to that field in the sales entry screen. If a suitable code doesn't exist, a new one can be created on the fly, without disrupting the original transaction.
First Accounts' handling of the GST appears excellent. The bundled video provides a good overview of the BAS completion process, and First Accounts 3.5 has an application called BASLink, which is designed to speed the calculation and preparation of the Business Activity Statement. The integration of BASLink into the package was very good, as it uses information stored in First Accounts to set up the framework of the return. The BASLink software can then save the information so that the Australian Taxation Office's own program can use it, and you can lodge the return electronically.
Web support is well considered, with MYOB's Web site containing a number of resources you can access. These include FAQs, dates for seminars on the GST and BAS returns, as well as workbooks that can be downloaded to assist and educate users in the GST and how First Accounts works with it.
MYOB has succeeded in creating a package that works well, is scalable as your business grows and is able to ease some of the pain of dealing with the GST. It's a smart choice for anyone setting up a small business, or thinking of moving from a paper-based system.
MYOB First Accounts 3.5
Phone: 1300 555 151