The term “service business” encompasses a wide range of possible businesses, everything from artists to undertakers, hairdressers to pet grooming services, ballooning guides to security guards. However, the principle essential to any service business is that their income is primarily composed of labor charges.
The bookkeeping and accounting requirements for service businesses are relatively straightforward as reporting requirements tend to focus less around profit margins and inventory levels, and more on customer information, sales patterns and creating clear, informative invoices.
Download the Services Insight Guide to learn how to tailor your MYOB software to fit your needs.
“The two most important tools of my business: my MYOB accounting program and my camera."
Jack Acrey, Acrey's Photographics
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Acrey’s Photographics
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Ron Ben-Israel Cakes
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Famous Fourth Street Cookie Company
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Click here to view the Chart of Accounts for Service Industries. Remember that with MYOB software, you have complete control over your account numbers and their names, so you can customize your Chart of Accounts to look exactly the way you want it to look. Choose from 60 different Services Industries when choosing your Accounts List. |