An account is a tool used to organise a business. Accounts keep track of the financial additions and subtractions that occur in regular business activity and an accounts list is merely a list of all the accounts that are used to track a business.
Generally speaking, most businesses require a specific accounts list. In this step of the New Company File, choose among three ways you can accomplish this:
You can select a list for your company from over 100 typical accounts list.
Mark this selection and click the Next button to open the Select Your Accounts List window where you can select one of the accounts lists provided by MYOB Accounting Plus.
Mark this selection if you intend to work with your accountant to import a accounts list specific to your business. When you make this choice, MYOB Accounting Plus will provide you with a few required accounts to provide a framework; you'll add all of the other accounts you need to track your business with the import.
If none of the business types in the list seems acceptable for your company, mark this selection. When you make this choice, MYOB Accounting Plus will provide you with only a few required accounts; you'll need to add all of the other accounts you need to track your business at a later time. Because this option requires additional work, we suggest that you choose to build your own accounts list only as a last resort.