As a user of MYOB Advanced, you might be aware that with the latest update, Velixo Reports now form part of the base product and is included in your subscription.

That is right, since 1 January 2022, Velixo Reports for MYOB Advanced are now part of the base product, which provides the solution with a different reporting perspective.

But it's MS Excel - why do I care?

That is correct, we are in 2022, and you might be surprised by just how many CFOs and Financial Managers are still using Excel for various reporting tasks. Therefore fitting in reports with actions like “write journals” or “update budgets” directly to your ERP solution with the push of a button might make a lot of sense.

One of the traditional bugbears with spreadsheets years ago was version control, and not everyone was looking at the same data. That is mainly eradicated now with the advent of Office365, which most organisations are using, and it is already included in their subscriptions. The other was the lack of ability to drill into base transactions or the need to go back into the application to update figures. Well, that is also now something of the past.

Further to this, Excel also has potent reporting tools with the likes of “pivot tables”, “power query”, and “Power BI plug-ins”, to name but a few. And some businesses already use these tools for a lot of their reporting, from internal and external systems.

Main reasons to consider looking at Velixo Reports

Here is our list of top reasons to consider giving Velxio Reports a spin in 2022:

It’s Free
You already use Excel
Quick to learn
Drill Down to underlying information
Push back transactions to ERP

1 - It's Free

So when you subscribe to one Full licence with MYOB Advanced, you are automatically also given a few other freebies, like a free licence to use Velxio Reports. Therefore, the base license will not cost you anything, and you can play around with the product.

Should you, later on, decide to upgrade, this is very easy by purely updating your monthly MYOB Advanced subscription through your MYOB Advanced Partner.

2 - You already use Excel

If you despise MS Excel, then give this a miss. However, if you prefer the quick use of adding formulas and charts on the fly to your reports, then read on.

Most businesses use Excel, yes, some might be on Macs, and some might be using the Google stable of products like Sheets, in which case this might not work either. However, if your organisation has an MS Office 365 licence, MS Excel is included, and therefore you will be able to tap into the capabilities of Velixo reports.

3 - Quick to learn

Because it is Excel, the time to learn and edit reports is far superior to that of your existing ERP solution. When the Excel Add-In is installed, it will also add the pre-built formulas and Menu to the Banner.

Creating and learning to build or edit a report is a matter of hours and not days. Each ERP solution generally comes with its own report builder, which can take some time to learn as there are a lot of nuances and specifics. However, most people already have a base or advanced understanding of Excel, and therefore building a new report in Excel with the help of just a few new formulas might be a lot quicker to action.

A host of online training materials is also available to help guide you through the process. Else, you can contact your MYOB Advanced partner, like Endeavour Solutions, to assist.

4 - Drill-Down to underlying information

It is probably the best-kept secret of Velxio Reports and is one of its best features and reasons you should consider it.

You will have the ability to look at a summarised P&L and then drill into a value, which will open like a pivot table, another tab with all the transactions. But it does not stop there. Each transaction will have its own unique and secure URL link to allow the user to drill into the base transaction in the ERP application directly from Excel.

Other components worth mentioning are the ability to report on just about any query already written in your MYOB Advanced ERP solution. In addition, its formulas stretch far beyond just Financials and Budgets, with the Project Accounting and Inventory Formulas as standard.

5 - Push Back Transactions to MYOB Advanced

So you are looking at data, editing what-if scenarios in MS Excel with Velixo and realise that you need to update the Budget Scenario. Wouldn’t it be great if there was a way to click a button in Excel and send this data directly to MYOB Advanced? Well, you are in luck.

With Velixo reports, you can write Journal Entries, Project Transactions and Budgets all directly from Excel with the click of a button. When pushing data into MYOB Advanced, the system will require the user to be authenticated (with MYOB Advanced licence) – and error messages will flow directly from MYOB Advanced to Excel, should there be an issue.

It undoubtedly will save you time as it fits straight into your workflow and minimises the time to hop between different applications.

Velixo Report Licencing

Velixo Lite is included, with the option to upgrade to any other licences later down the track. See below for restrictions and opportunities with each licence type, or feel free to reach out to our team directly.

What is the Velixo LITE License?

The LITE license is a restricted license of Velixo that should be deployed on any MYOB Advanced site that does not have a full Velixo license. Lite license is restricted in functionality, and whilst you can build most financial reports with it, the best application is summary reports across the Account Classes..

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Excel Report Writer for MYOB Advanced, now included