Take advantages of the new MYOB / ABSS features. Reduce more cost, handle the new compliances changes and manage your business more efficiently!
For those who's still confuse what is ABSS? ABSS (Asian Business Software Solutions) is formerly known as MYOB Singapore and this is updated since 1st January 2018.
So all newer version of MYOB is displayed as ABSS. If you're still seeing MYOB icon, it is 100% you're using an older version. Worry not, if you using older MYOB versions or versions below v23 you can check out the comparison chart across all different version to see the full list off updates and additional features that has been added throughout the version. Now let's get straight to the point, here's the latest updates in ABSS Premier V23 and Accounting V28. I'll break into 3 categories: Features, Compliance and Enhancement. Here we go.
New features
Send and Receive E-Invoice
E-invoice is definitely not attach and email your invoice. In the latest MYOB / ABSS version, you can now send e-invoice from your MYOB / ABSS directly to your customers' accounting software that is also e-invoice ready (Ehhem, no more excuse for never receive email). This is implemented in 2019 by IMDA on the nationwide E-invoicing network to help businesses improve efficiency, reduce cost, enjoy faster payment and support paperless at the same time. All you need to do is register your company for a Peppol ID in the latest MYOB / ABSS Premier or Accounting version and start your paperless journey.
DBS Bank Connection (Automated Bank Feeds & Payment)
Good news if you have DBS bank, you can now connect your MYOB / ABSS accounting software with your DBS online banking account to automate your bank feeds from your bank directly. No more going through the hassle of login on to both platforms just to review your bank transactions for presented or un-presented payments.
Also, by connecting your MYOB / ABSS accounting software with DBS, you'll be able to issue FAST payments to suppliers directly from ABSS. By managing your payments and accounting on the same platform, you'll be able to significantly reduce the risk of an entry error on either ends.
New Compliance
New GST Tax Code for Import Services and Reverse Charge
This is in line with IRAS requirement to report Imported Services, Reverse charge. New GST Tax Code is added as below to support for business importing and supplying digital services.
GST F5 [Detail] Report Updated
The latest GST F5 report has also been updated to reflect the newly added GST Tax Code for Import Services and Reverse Charge to ensure regulatory compliance in reporting.
New Enhancement
Export to Excel xlsx File
Now also supports Microsoft 365. Previously you can only export to excel if you have a Microsoft Office application installed on your devices. Now you can easily select Send To Excel option to save directly into excel format.
GST F5 Return [Detail] Report: Drill-Down Feature Enabled
In this release, you can now click the transaction line in GST F5 Return [Detail] report and drill into the transaction source entry to view the record details. You can now check one-by-one and make necessary changes immediately once you spot them.
Non-Unicode Compatibility
There's also improvement on the support for non-unicode Simplify Chinese characters, great for companies that needs to type and display Chinese characters in description fields.
A Comparison of MYOB / ABSS Premier Version History
Compare the features that has been added to ABSS Premier from your version, if any.
Conclusion
There's always new exciting update in MYOB / ABSS especially e-invoicing, this is the hottest topic especially in this COVID-19 exceptional period and get your company onboard e-invoicing now. Transact digitally, safely, faster and more accurate.
If your MYOB / ABSS Premier or Accounting software version is out-of-date? Upgrade now to enjoy the latest features. You can also get the latest version of MYOB / ABSS covered under PSG Grant which is at least 80% subsidy to support your company upgrade.
So, What is your favourite MYOB ABSS features? :)