Run Divisions or Cost Centres - Using GL Custom Lists with Monthly Budgets

Using Categories or Jobs is one way to separate out and report on different Departments or Cost centres in MYOB.  However, if you also want to maintain monthly Budgets it is not possible to maintain them and report on Actuals v Budgets from within MYOB.

Using Business Intelligence for Cloud you are now able to allocate each P&L account directly to a Division or Cost Centre using GL Custom Lists. Then in BI4Cloud easily report on monthly Actuals v Budgets by Division. This is a great option for States or a small number of Divisions.

For a complete review of the various options available to MYOB users to account for Divisions see   Accounting for Divisions or Cost Centres Using MYOB.

Enter GL Custom List Labels

Login to BI as the main BI Account Admin User so that you see the Admin screen or if already logged in go to the Company page.

1. Click on the Cool Stuff button (See Below for Initial Setup of Cool Stuff)

2. Click on GL Custom Lists

3. Select the Company (if you have multiple Companies linked up)

4. Give the GL custom List a name e.g. Division, Branch, State

5. Allocate each P&L account to a Division, State, etc.

6. Click Exit to Save

 

Run Monthly Divisional Budget Reports

 10. Login to BI - Let start a New Favourite report using the Advanced option:

  • Click on the Advanced Cog

  • Setup a Pivot Type Report
  • Choosing the GL Profit & Loss Report Mapping
  • Analyse by GL Account Level2 - to set Rows
  • Then by State (or whatever you called your GL Custom List) - to set Columns
  • Then by Account - to set the drill down sequence to go down GL account next
  • Pivot on ALL (H) - to see All Dimensions Actual, Budget & Variance or just choose  Actual if you don't have budgets.
  • Group by Account Classification to subtotal at Income, Expense etc

  • Click Go to run the report
  • Save to Save this as a new Favourite report to use over and over.
  • That's it, no need to allocate every transaction to a Job or Category again.
  • Remember if you add new P&L accounts into MYOB you will need to go back to Cool Stuff and allocate the new account to the relevant Custom List ( State etc). 

 

Other Options to Report - Compare YTD v MTD - Actual v Budget P&L by Cost Centre

 

Other Options - Monthly Pivot  - Actual v Budget P&L by Cost Centre

Other Options - Cost Centre Pivot (as Columns)  - Actual v Budget P&L by Month

Visualisations can also work well - Track Weekly Sales by Division 

Initial Setup 

We allow you to allocate each P&L account to up to 3 different Custom Lists in BI and store this outside of your MYOB file. To turn this feature on:

1. Organisation Page
Login to BI as the main BI Account Admin User and go to the Organisation Page.

2. Set Advanced Database to Yes & Save Changes

3. Refresh your Data 

 

www.BI4Cloud.com

 

 

 

 

 

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