General > General Technical Chat

OT: MYOB threaten to delete my records

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Halcyon:
I am a huge advocate for self-hosting where it's possible and economically viable. Email is one of the very few services I don't bother to host myself anymore, it's just not worth it these days.

For everything else (including my PBX/VoIP services), I host my own servers.

For a small business, you don't need to spend tens of thousands of dollars on infrastructure either. Just a few decent servers and virtualise everything. For my primary hypervisor, I use an old IBM System x3650 server I picked up for $300 and just upgraded the RAM to 64GB. It runs something like 11 or 12 VMs concurrently (including a Plex server that does video transcoding on the fly). It's by no means "powerful" by today's standards but it does the job and does it reasonably well.

Since I've switched entirely to a Linux workflow, I find setting up these little "niche" servers much, much easier than a bloated Windows install. For backups, I just take regular snapshots of the VMs and back them up to my NAS. If the house burnt down, I could have all those machines up and running again within an hour.

EEVblog:

--- Quote from: Ed.Kloonk on October 09, 2020, 06:07:34 am ---I'm just saying you need a separate accountant and book keeper. I learned years ago to not dump the book keeping duties onto a tax agent.

--- End quote ---

They are CPA accountants and they know their stuff, not just a "tax agent". And it would just be double handling really, my needs are actually quite complex.

EEVblog:

--- Quote from: AntiProtonBoy on October 09, 2020, 06:22:30 am ---Dave: I heard good things about Xero. Ditch MYOB and give Xero a try.

--- End quote ---

Nope, not worth my time. MYOB actually does very little for me, just payroll stuff, but it's a requirement of the new tax laws.


--- Quote ---
--- Quote from: TerraHertz on October 08, 2020, 01:42:13 pm ---Oh, and if you own any actual physical gold? The government has a law in place by which they can take that too, any time they decide they want to. Check out the Australian Banking Act, section about gold.

--- End quote ---
In exchange for legal tender though - i.e. the bank is legally obligated to pay for it. Gold coins, jewellery and material that is being worked on by a gold smith is actually exempt. Now the issue is, the money you get in exchange might be losing value, which defeats the purpose of hoarding gold in the first place (if you are an investor).

--- End quote ---

A hammer and a drill is all that is needed to turn any gold into jewelry at a moments notice.

EEVblog:

--- Quote from: Domagoj T on October 09, 2020, 06:10:43 am ---There are so many legitimate explanations and causes for somebody to fail to pay. Even when the client has the funds and is willing to pay for the service, what if they're in a traffic accident a day before the payment date. They could easily spent a month in hospital and suddenly two payment periods go by... poof, all data is gone. |O

--- End quote ---

Yep!


--- Quote ---How can this policy be legal?
--- End quote ---
Because 'ma private business, and nobody has ever challenged it.

VK3DRB:
MYOB is a bit of a ripoff. Intuit is arguably better. I tried a few of these subscription packages, but I settled on Wave Accounting and am very happy with it. If you set up right (chart of accounts, GST etc), it is very good. Only downside is it does not support inventory management. It is hosted by a reputable Canadian company. Why is it free? They provide a credit/debit card transaction service for a small percentage, which you can turn off. I only get paid by bank transfer from other businesses, so I have never had to sue their credit card process yet.

By the way, MYOB hooks you in in the same way that Microsoft Office 365 does. And so does Altium to some extent.

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