From the knowledge we have gained from the Ignition Session, we then “get under the hood” and review all the aspects of your MYOB Exo system including a full review of financial and operational information. The Initial Review takes on the elements of reviewing the MYOB Exo system itself and meeting with individuals who use the system whether operationally, in finance, or managerial roles.
Integrity is key with financial information and trusting the information being shown is crucial in order to have a true reflection of how the business has actually performed. The financial aspect will include a review of the balance sheet and profit and loss statements to ensure the information is accurate and being distributed correctly. This will also include reviewing processes from a finance perspective to ensure key areas, such as bank, debtor, creditor, and stock reconciliations are completed correctly, as well as all foreign exchange processes are accounted for correctly.
Operationally, we review how the system is used day-to-day which often revolves around stock processes including stock purchasing, receipting, costing, invoicing, and how stock codes are set up. This may also include a review of how Bill of Materials are being used (factoring in MYOB Exo Job Costing if applicable) to ensure the items are set up correctly and followed correctly and how this flows through to the financial reporting of the system.
The third area is reporting. A business might be entering financial transactions correctly and running its day-to-day operations correctly through MYOB Exo, but it may not be very helpful if the key people in the business don’t have access to this information. As surprising as this may sound, all MYOB Exo systems have different reporting systems and sometimes will have inconsistencies in the way reports are revealed in the system. We work with you to understand the reports you need on a daily, weekly, monthly basis and/or as required to ensure it is providing what you need, accurately, every single time.
With the knowledge from the Initial Review and Ignition Session, an Action Plan is developed that, in our opinion, will help your business get the maximum value from your MYOB Exo in the shortest period of time including recommendations based on priorities you have identified on specific areas of your business.