With many businesses shifting to an online setup nowadays, it’s no surprise that many accountants are doing the same thing. And as the pandemic has shown, being an online accountant is not only more convenient for you but also for your clients. And one kind of online accounting job you should consider is the online MYOB accountant job.
Similar to Xero and QuickBooks accountant, a remote MYOB administration job utilizes accounting software for its tasks. In the latter’s case, it uses the MYOB accounting software. I know, big surprise, right?
First off, what is MYOB? MYOB is an Australian multinational corporation that offers accounting, tax, and other business software for small and medium businesses. MYOB for accountants allows you to quickly and efficiently view your client’s financial statements and communicate with them. It even has an AI assistant that helps you produce recommendations for your clients.
As accounting systems get automated, MYOB accountants are becoming one of the in-demand online jobs today.
If you find that a work from home MYOB job suits you, then continue reading this article. Here, I will discuss 7 fool-proof ways to be sought-after in an online MYOB accountant job.
Duties and Responsibilities
Before we get started, let us discuss first your duties and responsibilities. As I said before, an online MYOB accountant job is very similar to the other online accounting jobs. This includes your duties and responsibilities, such as:
- Prepare monthly and quarterly business activity statements for clients.
- Reconcile bank accounts with quarterly/annual reports.
- Data entry of bank statements, invoices, receipts, and other source documents.
- Review client data entry and correct if necessary.
- Prepare quarterly/annual accounts and the required paperwork for them.
- Produce individual, partnership, trust, and company tax returns.
- Submit the annual PAYG payment summaries.
- Put together the taxable payments annual reports.
- Other accounting/data entry support as required by your manager.
Of course, let us not forget about your salary. A junior-level full-time work from home MYOB job has a salary range from Php 25,000 to Php 30,000. Experienced MYOB accountants can expect a salary range from Php 60,000 to Php 80,000.
Don’t Rely Too Much on MYOB’s Features For Your Work.
After discussing your duties and responsibilities, let’s now focus on this article’s main topic. Let’s start by reminding you that MYOB is no substitute for accounting skills. Yes, MYOB makes it so that gathering and analyzing your client’s financial information is so easy now. But it’s still up to you to interpret and report your findings to your client.
And you can’t do that without your accounting skills. So if you want to be a sought-after MYOB accountant, you should continue to hone your arithmetic and analytical skills. Keeping your skills in shape allows you to be more productive at your work.
Knowledge of Accounting Standards and Principles
Arithmetic skills are one thing in accounting. But the real challenge is knowing what to add and what to subtract. And everything is based on the interpretation of accounting standards and principles.
You must know how to apply the new rulings to make sure that your client is recording and reporting financial data correctly.
Accounting work is like delving into your client’s business. You must understand the big picture to properly record transactions. And your business acumen will come in handy.
With this, you can also spot areas of improvement in revenue-generating assets or cost centres that can benefit your client in the long run.
Know the Ins and Outs of MYOB.
On the other hand, aside from honing your accounting skills, you should also know the ins and outs of MYOB. If you want to succeed in your job, you need to know how your tools work. Fortunately, aside from making your work easier, MYOB is also easy to learn. There are video tutorials available on MYOB’s website that will teach you how to operate it.
If that’s not enough, you can also attend online courses that teach you how to use this accounting software. Not only will you learn how to better use MYOB, but you will also receive a certificate showing you have advanced skills in using it. There are also video tutorials available on Youtube that teach you how to operate MYOB as well.
Manage your Time Properly.
It is not enough for you to know how to do your job. You should also be able to do it on time. Having time management skills allows you to accomplish your tasks on or ahead of time. This lets you either have more time for work or rest.
Another benefit of time management improves how your clients view your work ethic. Submitting your reports and paperwork on time tells them that you’re someone competent and committed to their job. This is especially helpful if you’re planning on applying for a promotion or if you’re looking for a new client.
Knows How to Interact with your Clients and Co-Workers.
And lastly, no man is an island. A large part of your work involves updating your clients regularly about their company’s financial status. In addition, there will be times when you will have to interact with your co-workers, either for work or for extracurricular activities such as Christmas parties.
After all, accounting encompasses all departments. As long as there are costs, there’s a chance of interaction with your colleagues, even from different departments.
Establishing good working relationships with both your clients and co-workers improves the company’s work environment. True, this environment is virtual, but in my experience, having someone to casually talk to these days is a great stress reliever. Most importantly, if you’re someone that gets along well with everyone, they’ll be more inclined to help you with your work.
In the fast-paced business world today, accounting standards get updated almost every year. For example, the pandemic brought about additional disclosure and going concern requirements for timely reporting. Cryptocurrency also birthed new income opportunities and risks that accountants need to be aware of.
The question is, are you up-to-date with the latest financial requirements? It might be accounting standards or new government regulations imposed.
It’s an essential requirement to assure that you’re relevant in the field in the long run.
And we are finished! Here are the four fool-proof ways to be sought-after in your online MYOB accountant job. I hope that these tips will help you as an MYOB accountant. Of course, there are more ways you can do to improve at your job. But these tips are the most important ones to keep in mind.
If you are looking for openings for this job, check out Remote Staff for job openings. Cheers!