FAQ

General
Professional Users
Business Users
UK Users

Q. Why do I need to manage my business performance?
A. Our research shows that the failure rate of small business has remained unchanged since the Second World War (30% plus in the first year to 73% within 5 years!).

The single most important factor in failure (after lack of capital) is management deficiencies.
These businesses could not maintain a profit and/or manage change.
The small business owner inevitably is too busy operating the business to manage it.
MBM highlights business problems early and focuses you on the solutions.

Q. What does MBM do?
A. MBM helps you to manage business performance in order to improve your profits and control cashflow. It helps to keep your business on track while you are busy operating it. 95% of all small businesses do not budget and, as a result, they are unable to analyse their results to determine how they can do better. Most small business management is operational management and reactions to missed results or to problems.

Q. I use an accounting software program and a business plan, why should I use MBM?
A. Your accounting software is for records and compliance purposes. Your business plan shows your wishes and conceptual structure for the business over the next 1 to 3 years. However where most businesses go off the track, is that actual results do not follow forecasts and this usually results in cashflow and/or working capital problems. Unless corrected quickly these issues usually result in the business either stalling or going further into debt. MBM helps you to highlight and resolve these problems early. You are then able to make informed choices to get your business back on track. MBM can show you where the performance is not on track, so that you can take corrective action.

Q. How do I use MBM?
A. You can run the system in simple mode or it can cope with the most advanced manager's needs. You choose the way that suits you best. MBM is suitable for all management styles and phases of the business;

If you want to maintain business performance, you can use the profit model, budgeting and cashflow forecasts to monitor results in order to stay on track.
If you want to improve business performance, you can use MBM in more detail to analyse cashflow and to monitor productivity issues.
If you want grow your business, you can use the full performance facilities of MBM to analyse profitability, capital, workflow and cashflow issues. This phase involves additional business reviews and monitoring of results to achieve sustainable growth.
We provide many wizards to help you set up and personalize MBM to your needs.

Q. How do I keep up to date?
A. We make it easy for you to keep your version of MBM up to date through our website product update facility. As an MBM user, each time you launch the program, it will check for updates automatically to ensure that everyone has the latest version. You can download business templates, user manuals, and help files while-ever your license is current. Your MBM supplier (possibly your accountant or business advisor) will contact you regularly to ensure that you are getting the most value from MBM.

Q. What does the license renewal entitle me to?
A. Financial Management software is usually quite expensive. To make the price more attractive to potential customers and ensure that every business can afford it, we reduced the initial license fee and introduced an annual license renewal. While-ever your license is current, you can access automatic downloads, updated documentation, business plans, business forms, submit new ideas and access our web-based customer resources.

Q. What level of detail can MBM handle?
A. Data entry is based upon commonly found balances from the Profit & Loss (up to 10 fields) and Balance Sheet (up to 15 fields) only. These are usually summary totals rather than individual account balances. In the Budget Builder, you can break the Forecast down into any level of detail that you require. We then provide an export (in Excel .csv format) so that you can import it into your accounting system or compare it to the detail exported from your accounting system.

Q. How does MBM handle GST (Goods and Services Tax) and PAYG (Pay as you go tax)?
A. MBM does not specifically handle GST or PAYG. The overall net effect on the cash flow will be neutral but, depending upon timing, it may have an impact on any particular month.

The reason that MBM does not take this into account is due to the large number of variables that affect GST and PAYG. These being;

GST is it paid quarterly, monthly or annually?
GST is the customer on a cash basis or accrual basis?
GST are there any GST free items or GST exempt items?

PAYG is this paid quarterly or monthly?
What is the actual PAYG figure?
Does the company pay PAYG on income if so is this a set figure or based on turnover?

In circumstances where the taxes are collected in a different month to which they are paid, you will see an increase in "Bank". This will continue until the month of payment when you will see the "Bank" balance reduce and the category that you use for these taxes (usually "Other taxes") increase.

To take this information into account any other way would make MBM a far more complex and expensive solution.

Q. How does MBM handle Opening and Closing stock?
A. The opening and closing stock are accounted for in inventory. COGS is effectively the net of Closing stock minus Opening stock plus purchases.

Q. How does MBM handle Shareholders Salaries?
A. There are no rules in relation to this issue. Each accountant handles this differently. We therefore leave it up to each accountant or accounting practice to determine where they wish to see this entry.

Q.How does MBM handle Interest Income?
A. Again this is a personal choice for the Accounting Practice. Some people will net this off against interest expense.

Q.How does MBM handle Bad Debts?
A. This is a personal choice for the Accounting Practice. Some people net this off against sales whilst others will put this against other expenses.

Q. We have 5 businesses that we want to process through My Business Manager and we also want to consolidate them into one business unit and run reports on the whole group. How do we do this?
A. Each Business license or each Client license of the Professional version, may have up to 3 business entities included in the license price. Consolidations are no extra charge because they are made up of licensed businesses.

Your choices are;

Purchase a Professional license (which includes the first Client) and then purchase an additional Client license. This would give you one User / 2 Clients (6 business entities).
Purchase 2 x Business licenses. This would give you 2 Users / 6 business entities (3 per Business license).

Setup multiple businesses

Using your existing purchased license or your free 30-day trial license, set up your first business and import your accounting data.
Create your second business. Go to "Businesses and Clients" tab and select "Businesses". Then select the "New Business" option. This will take you to the "Setup" wizard and lead you through the process again.
Same process for your third business.

How to create a consolidation

Go to "Business and Clients" / Consolidations". The process is fairly obvious.
The consolidation could easily be called an amalgamation because we do not remove inter-company transactions from the process (we have no way of identifying them).
Once created, the consolidation is dynamically maintained and becomes a unique entity in its own right.
You can have multiple consolidations if required.
When you want to proceed past the first 3 business entities, you will need to either;
- a. Activate the second Business license
- b. Activate the second Client license (depending upon which approach that you take.)
Both of these options are accessible from Wizards / Housekeeping / Activate Purchase

Q. I am having problems activating my copy of MBM.
A.

Ensure that you are using correct email address (the one that you originally entered when you registered with MBM on the website)
Check the spelling of your email address
Ensure that you are using the correct activation code (check the email you received)
Check that you computer is currently connected to the Internet (by going to www.mbmglobal.com)
Check that your firewall settings are not set to block "LicenseMgr.exe" or "MBM.exe"

Q. I am having problems loading MBM or with the automatic updating function
A.

If you get an error on start-up, check that your .NET 1.1 is correctly installed. It may be corrupted so, if in doubt, uninstall it and re-install (By using the Control Panel | Administrative Tools | Microsoft .NET Framework 1.1 Wizards)
Check that your internet connection is connected (by going to www.mbmglobal.com)
Check that your firewall settings are not set to block "UpdateMgr.exe" or "MBM.exe"

For Professional Users:

Q. How do I allocate business licenses to my clients?
A. Included in the Professional version are two (2) client licenses. Each client can have up to 3 businesses (or entities).

To activate your first client and to create a business for this client, follow these simple steps:

Step 1: Load the MBM application and on the Home tab, select the "New Business" button.
Step 2: In the last option "Activate a new Client license", enter your client's name and click "Create".
On the confirmation of online client activation screen, select "yes" to continue.
The online activation screen will ask you to enter the email address of the license holder and to paste the client license activation code that you received by email, to verify your license.
Step 3: If successful, you will be presented with the "edit client" form where you can enter your client's details and email address. (If not successful, you can check your licenses on our website at http://www.mbmglobal.com and by entering the customer only area).
Step 4: Create your client's first business (maximum of 3) by completing the form and clicking Create.
Check where you want to save your client data and reports files.
Your new client's business is now opened and ready to go!

Q. Do I need to purchase a "business" license for each business or for each client?
A. Each Client being processed by the Professional version requires a client license. A client license provides for up to 3 businesses or entities for that client.

There is no license charge for a Consolidated entity however, it can only contain licensed client businesses or files emailed to you from a Business version client.

For Business Users:

No specific content

UK Users:

Q. How does MBM handle VAT?
A. MBM does not specifically handle VAT. The overall net effect on the cash flow will be neutral but, depending upon timing, it may have an impact on any particular month.

The reason that MBM does not take this into account is due to the large number of variables that affect VAT. These being;

VAT is it paid quarterly, monthly or annually?
VAT is the customer on a cash basis or accrual basis?
VAT are there any VAT free items or VAT exempt items?

To take this information into account any other way would make MBM a far more complex and expensive solution.

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