[ Go to April 1997 Table of Contents ]|
-- by Joel T. Patz
M.Y.O.B. Accounting 7 is sparse on new features, but that's because version 6 was so feature-rich. The latest edition provides Easy Setup Wizards that focus your attention on selecting the proper program parameters by helping you organize preferences and custom settings.
One of the more useful features is a direct link to the Microsoft Small Business Financial Manager. M.Y.O.B. lets you set credit terms by invoice or customer, and you can specify the intervals between automatic file saves.
A new Data Verification Test (DVT) that checks files for inconsistencies and errors can be performed at any time; however, the documentation offers little information about the errors DVT can find.
M.Y.O.B.'s Report Finder organizes reports by topic, categorized under General Ledger, Checkbook, Sales, Purchases, Payroll, Inventory, Card File (for entering new customers or employees) and Custom. Payroll is easy to set up and use. However, I've found QuickBooks Pro 5.0 and Peachtree Complete Accounting to be better choices for payroll.
Some of the latest changes aren't necessarily for the better. M.Y.O.B.'s new CD-ROM-based Multimedia Learning Center, while informative, is too basic, with simplistic explanations of T accounts, debits and credits. Even the "day in the life of an M.Y.O.B. user" example won't satisfy a serious number jockey.
M.Y.O.B. is still loaded with power. It offers 100 account chart choices for businesses as diverse as boat dealers and veterinarians. Some terminology may take getting used to: When initially entering account balances, you must search for the Owner/Sharehldr Investment account, rather than the more common Owner's Equity account. It would also help if accounts were labeled as assets or liabilities.
If you manage inventory, M.Y.O.B. should be your first choice over Peachtree Complete Accounting. It offers better automatic backorders and backorder tracking to batch price updates. Additionally, you have a choice of different buying and selling units (buy in cases, sell in dozens). However, Peachtree retains its place on our Recommended List for more thorough documentation and ease of use.