From MYOB

Management accounts and board reports from a MYOB trial balance

In MYOB Business, open Reporting, Reports, run the Trial balance for the month, then Export to Excel. Upload that file to Magic MIS and it builds the profit and loss, balance sheet, KPIs and commentary; next month the new trial balance refreshes the pack.

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Every figure shown here is invented for illustration. Nothing on this page is computed from anyone’s accounts.

Export the trial balance from MYOB Business

Go to the Reporting menu and choose Reports.
Click the Trial balance report.
Choose the period: the month you are reporting.
Use Report options for any extra filters.
Click Export and choose Excel.

MYOB's help notes that you may need to enable editing in Excel before the totals display. Source: MYOB Business reports. On MYOB AccountRight desktop, run the trial balance from the reports index and export it to Excel; menu names vary by version, so check its help.

Check the file before you upload it

Debits equal credits. If they don't, the period may be wrong or a journal unposted.
The right month. MYOB's trial balance shows a chosen month's activity.
The right financial year. Most Australian businesses start theirs in July; set it once on the company in Magic MIS so the year to date is right.

MYOB's account numbers map cleanly to report lines

MYOB numbers accounts by type, which makes the mapping quick to check:

Account range	MYOB type	Usual report line
1-	Assets	Cash, debtors, stock, fixed assets
2-	Liabilities	Creditors, GST payable, PAYG, loans
3-	Equity	Capital, retained earnings
4-	Income	Revenue
5-	Cost of sales	Direct costs
6-	Expenses	Overheads
8- and 9-	Other income and expenses	Below EBITDA, interest

That is MYOB's default; a business's own chart can differ. Each account is mapped once to a line of the report, by rules first and the AI only for what the rules can't place, and every choice can be changed on the company's ledger map. Next month only accounts that are new need placing; the rest are remembered.

A Perth electrical contractor's August, from its MYOB accounts

An invented contractor's August trial balance shows income (4-) of $318,400, cost of sales (5-) of $201,700 and expenses (6-) of $84,300.

Gross profit = 318,400 − 201,700 = $116,700 (36.7%)
EBITDA, before the 8- and 9- items = 116,700 − 84,300 = $32,400
GST payable (2-) of $28,950 sits on the balance sheet until the BAS is paid.

GST makes debtor days and cash read oddly in some months

Profit and loss lines are GST-exclusive; debtors and creditors include GST. Allow for that in creditor days and debtor days, and expect a dip in cash when the BAS is paid. More in the Australian board report.

What MYOB users ask

Does Magic MIS connect to MYOB?

No. It works from the trial balance you export; there is no live connection.

Excel or PDF?

Excel. A PDF is read too, but Excel avoids layout problems.

Can I report a July to June year?

Yes. Set the financial year to start in July, once per company.

What about several MYOB files for related companies?

Each company is reported on its own; there is no consolidation.

Turn this month's MYOB export into a board report

Create an account, load last month's trial balance, and get the report — paid per action.

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