This is part of our Getting Started with MYOB Business series (Chapter 1 of the MYOB tutorial hub):

• Lesson 1: Understanding MYOB Products and Choosing the Right One
• Lesson 2: Setting Up Your MYOB Business File
• Lesson 3: Building Your Chart of Accounts in MYOB
• Lesson 4: Using MYOB Solo for Sole Traders and Freelancers

Your chart of accounts, called categories in MYOB, is what every transaction gets sorted into.

1. Start with the default categories

MYOB comes with a standard set of categories that cover most small businesses reasonably well as a starting point.

2. Add categories that match your business

For a trade or service business, adding specific categories for materials, subcontractors and vehicle costs gives you far more useful reporting than one generic expenses category.

3. Editing rather than deleting

If a default category does not suit you, it is usually safer to rename or adjust it than delete it outright, especially once transactions exist against it.

4. Do not overdo it

Too many categories makes entering transactions slower and reports harder to read. Aim for useful detail, not exhaustive detail.

MYOB Academy has a chart of accounts course: watch the official MYOB tutorial. Our tradie bookkeeping team can review your category setup as part of onboarding.