MYOB M-Powered Guide

MYOB
M-Powered
Services
Some of the smarter, faster ways
you can run your business now that
you’re with MYOB
MYOB M-Powered invoices
MYOB M-Powered superannuation
MYOB M-Powered MoneyController
MYOB M-Powered payments
MYOB M-Powered bank statements

your business processes
and make
Simplify
more time for your business
Most small business ventures begin as a dream. A dream to provide an
outstanding service. A dream to develop an amazing product. A dream
to do something better.
Yet for many, the dream quickly becomes a nightmare.
Not only do you spend all day working in the business – pretty soon, it
starts to take up your evenings and weekends too.
At MYOB we understand the reality of being in small business, because
just thirteen years ago we began our dream, as a very small business,
operating from a spare bedroom in a suburban home.
From this experience – and from the lessons we’ve learnt through our
own growth and development – we’ve continued to develop products
and services that make it easier for business owners to build and grow a
successful business.
And now you too can take advantage of our learnings and get our
systems working for you.
Accessed from within your MYOB software, MYOB M-Powered ® Services
simplify a variety of everyday business tasks. Using these services can save
time, increase the accuracy of your transactions, assist you in complying
with government regulations, strengthen your supplier relationships,
simplify cashflow management, and make it easier to keep control of
your day-to-day operations.
There’s bound to be an M-Powered service for your business – so read on
and discover some of the smarter, faster ways you can run your business
with MYOB.

M-Powered invoices
The easy way to get paid
faster
“ Giving my clients the option to pay their invoices on the fly – including Credit Card
by Phone when they’re out on the road – makes it much easier for them to pay
my bills on time.”
Rob Marshall, Ebiz Solutions, WA.
You’ve done the right thing – you’ve quoted the job,
you’ve done the work, and you’ve delivered great service.
So why does it take so long to get paid?
And when payments arrive, you’re off on a paper trail,
queuing at the bank, waiting for cheques to clear, figuring
out which payments are for what job, reconciling them
with your accounts... the list goes on.
That’s why we’ve developed M-Powered invoices – a
simple, affordable, easy-to-set-up service that builds on
invoicing features in your MYOB software to help you get
paid faster and save time processing accounts.

Cleared funds
in your business bank account,
less paperwork
for you to process
• Improve your cash flow.
• Know exactly when you’ve been paid.
• Avoid waiting for cheques to clear.
• Save time by getting paid electronically.
• Reduce your administrative work.
• Produce professional-looking invoices.
M-Powered invoices give your customers the convenience of paying you through Australia’s most popular
payment channels.
• BPAY ®
By dialling their phone banking service or accessing
their internet banking, your customers can pay you
from their savings or cheque accounts – 24 hours a
day, 7 days a week.
• Credit Card by Phone
By dialling an easy-to-use Interactive Voice Response
(IVR) system, your customers can listen to a
personalised recording of your company name (with
access to operator assistance if required) and pay you
any time, day or night.
• Postbillpay in person
Your customers can pay you by cash or EFTPOS over
the counter at any of over 3900 Australia Post Office
outlets around Australia.
Once a customer has paid, the payment is available
as cleared funds in your business bank account on
the next business day.
Which all adds up to faster payments, simpler
payment processing and less paperwork.
To apply, find out more, or to read the M-Powered
Services Product Disclosure Statement, visit
www.myob.com.au/m-powered, or
call 1300 555 111.
® BPAY is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.

M-Powered superannuation
The easy way to make
superannuation contributions
“ I know a good thing when I see it. The MYOB service is quick, efficient and has
slashed my paperwork. Paying and remitting super contributions was a painful and
profitless part of my business, and now it’s easy.”
Michael Van Bremen, Canopus Australia, Victoria.
Paying super means setting aside time to fill in super
fund payment forms for each and every employee,
writing and posting cheques to any number of
different super funds, and then reporting the
contributions you’ve made back to your employees.
MYOB has worked with banking and superannuation
service providers to simplify this.
With M-Powered superannuation you can
simply authorise payment to any employees’
superannuation funds straight from within your
MYOB software.
With many superannuation funds only accepting
cheque payments, MYOB will even organise cheque
payments on your behalf and process cheques daily
as soon as your funds are cleared.

Simple superannuation processing that puts
you in control,
and accurate reporting that keeps you and your
employees up-to-date
• Control which funds get paid, how much is paid, and when.
• Control who authorises the payment.
• Simplify your super payments, cut back on your paperwork.
If you’re already using MYOB Accounting Plus or MYOB Premier to run your payroll and calculate staff super,
then the M-Powered superannuation service will save you even more time and paperwork.
M-Powered superannuation simply accesses the payroll information you’ve entered into your MYOB software,
and then lets you authorise electronic payment of your staff’s various superannuation funds.
Whether you pay your employees’ super on a weekly,
fortnightly, monthly or quarterly basis, the
M-Powered superannuation service:
• gives you total control of your
superannuation payments
• transmits and processes payments securely
• automatically sends a remittance to each
superannuation fund with details of the
contributions you have made, and
• provides reports that keep you and your employees
up-to-date.
To apply, find out more, or to read the M-Powered
Services Product Disclosure Statement, visit
www.myob.com.au/m-powered, or
call 1300 555 111.

M-Powered MoneyController
The easy way to save
for your tax bills
How much of the money that’s in your business bank account today needs to be set aside to pay future liabilities
such as GST, employee PAYG and superannuation?
With M-Powered MoneyController, you can estimate the amount required to be set aside to meet these
obligations – and have the option of transferring these funds into a designated high interest account that can be
accessed whenever you want.

Knowing what your business owes
makes it easier
to make your cash work harder
• See at a glance your current liabilities.
• Choose which liabilities you wish to track.
• Know whether you have enough cash to cover future payments.
• Access high interest rate Provision and Investment accounts from Macquarie Bank.
• Easily move the cash required to cover your liabilities into a provision account.
• Analyse how much surplus cash can be moved into an investment account.
• Move funds electronically between your MoneyController accounts and your existing business account.
• Pay the ATO directly the taxes you owe.
CREATED IN PARTNERSHIP BY
M-Powered MoneyController helps reduce the risk of
inadvertently using funds that are required to meet
future liabilities – such as the GST you collect – in
your day-to-day business.
Working with the information you’ve entered in
your MYOB software, M-Powered MoneyController
assists you in assessing your financial liabilities – such
as GST, PAYG tax, superannuation contributions and
more – making it easy to see how much money you
need to set aside to meet these obligations when
they’re due.
Better still, because M-Powered MoneyController
has been created in partnership with Macquarie
Bank, you can transfer money into either of the
Macquarie Bank Provison or Investment accounts.
These accounts are readily-accessible, high interest,
transaction fee-free and have been developed
exclusively by Macquarie as part of this service.
To apply, find out more, or to read the M-Powered
Services Product Disclosure Statement, visit
www.myob.com.au/m-powered, or
call 1300 555 111.

M-Powered payments
The easy way to pay
your suppliers and employees
“Now I’m looking professional, paying my valued suppliers, giving them their
remittance advice, and updating my own records – all in one hit!”
Tanya Bandow, Tango Whitsundays, Queensland.
How much time do you spend writing and posting cheques and faxing or posting remittance advices? And how
much time does it take to prepare your employees’ pay and pay advices?
With M-Powered payments, you can pay your
suppliers and send them detailed remittance advices
in one easy process.
And you can even pay your staff too.
As well as paying on the day, you can choose to send
payments to be processed on a nominated future
date – making it easy to pay all your bills on time
as well as take advantage of any early settlement
discounts your suppliers may offer.
This service will be initially released for Commonwealth Bank
of Australia customers – to register your interest in having this
service work with another preferred bank, visit
www.myob.com.au/m-powered

At last –
streamlined electronic payments
that eliminate double handling
• Pay suppliers and employees electronically from your MYOB software.
• Create, view, authorise, cancel, transmit or monitor the progress of your electronic payments.
• Store electronic payments for up to 60 days, for processing at a future date.
• Send remittance advices of electronic payments to your suppliers by either email or fax.
M-Powered payments is the fast and easy way to
electronically pay your suppliers and employees,
using the data you’ve already entered into your
MYOB accounting software.
Because you specify when each payment is made,
you’ll have greater control over your cashflow. And
by paying electronically right on time, you won’t be
waiting for creditors to bank your cheques – while
your suppliers get cleared funds in their bank
account.
The service uses the highest levels of encryption
technology and other stringent validation procedures
to ensure complete security of all transactions.
To apply, find out more, or to read the M-Powered
Services Product Disclosure Statement, visit
www.myob.com.au/m-powered, or
call 1300 555 111.

M-Powered bank statements
The easy way to receive and
reconcile your banking information
“Each morning at start of business I receive an electronic version of my bank statement
that updates the information in my MYOB software – so I get to see where the
business is at and reconcile my banking and accounting records in one easy process.”
Ian Holman, Data Active, Victoria.
Knowing what transactions have taken place and having up-to-date account balance information are important
aspects of keeping tight control over your finances.
With more and more transactions now being made
electronically, your business bank account can be
changing on a daily basis.
M-Powered bank statements is an easy, efficient
and secure service that lets you receive daily
updates of your bank account balances and
transaction information.
You can then use your MYOB software to import the
data for automatic reconciliation with your general
ledger – or use it to produce a variety of reports.
This service will be initially released for Commonwealth Bank
of Australia customers – to register your interest in having this
service work with another preferred bank, visit
www.myob.com.au/m-powered

Bank statement reconciliation and reporting
with just a few mouse clicks
• Automatically receive and store daily updates of bank account balances and transaction information from
your bank account.
• Produce bank statement, account balance and transaction enquiry reports.
• Automatically reconcile your nominated bank account transactions – saving you from having to enter them
yourself, or go through the usual multi-step download and import process.
Providing you keep all your business information upto-date
in your MYOB software, then the M-Powered
bank statements service will simplify the process of
reconciling the many different transactions that take
place in your business bank account.
In addition, M-Powered bank statements makes it
easy to generate a number of different reports.
Balance Report – a list of accounts and their
respective balances for a specific period, with the
option to report by account and date range.
Statement Report – providing you with opening
balance, transaction list, running balance, total
credit, total debits and transaction count, with the
option to report by account and date range.
Transaction Report – Enables you to search for
a single transaction or group of transactions, by
parameters such as date range, account, reference,
number range and transactions type.
To apply, find out more, or to read the M-Powered
Services Product Disclosure Statement, visit
www.myob.com.au/m-powered, or
call 1300 555 111.

How to get
started
Can you
M-Power
your MYOB product ?
Visit www.myob.com.au/m-powered or call 1300 555 111 to find out.
Here’s how to start simplifying, streamlining
and automating your business processes with
the M-Powered Services.
1. To apply, find out more, or to read the M-Powered
Services Product Disclosure Statement, visit
www.myob.com.au/m-powered, or
call 1300 555 111.
2. When your application has been approved, MYOB will
send you a Welcome Kit containing everything you
need to get started.
3. Just follow the easy steps to set up your M-Powered
service - the functionality is already built in to your
MYOB software.
4. Start using the service and enjoy the time-saving
and increased productivity that result from simplifying,
streamlining and automating your business processes.

Introducing
M-Powered Services
At MYOB we understand that running your own business can be both rewarding and challenging.
From the start, MYOB has focussed on finding ways to reduce the unnecessary challenges, and we’re continually
looking for new ways to make it easier for you to run your business better.
Over the last three years, we have been working to solve some of the challenges that every business faces
beyond the need to keep good and accurate accounts.
Our focus has been on developing services that streamline the processes that tangle you up and divert you from
what you really want to do. And we’ve invested heavily in proving the technologies and negotiating all of the
business relationships needed to ensure that these solutions work seamlessly for you.
The result is M-Powered Services – a range of services that work from within the security of your MYOB software
to simplify some of your common business processes. They boost your business efficiency by automating the
flow of information and funds between your business and the many people and organizations you deal with.
You can M-Power your business today by visiting www.myob.com.au/m-powered or by calling 1300 555 111.
www.myob.com.au
MYOB Australia Pty Ltd
12 Wesley Court
Burwood East
Victoria 3151 Australia
® Registered trademark of MYOB Technology Pty Ltd ABN 30 086 760 269 MK1864/0404