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MYOB Business Review
What is MYOB Business?
MYOB Business is an online accounting software designed to help small and growing businesses with core accounting and payroll processes. The software comes with features for invoicing, expense management, billing, and financial reporting, so businesses get the tools they need to efficiently manage their finances. MYOB Business is available only to users in Australia and New Zealand.
The MYOB Business platform enables online invoicing and receipt collection, reducing the need to deal with mountains of paperwork. Aside from creating professional-looking invoices and quotes, the software also lets you set automated invoice reminders and track whether customers have opened your invoices. You’ll also be able to accept payments directly from your invoices using AMEX, Visa, Mastercard and BPAY.
In addition to organizing your invoicing activities, the platform also lets you track bills and expenses. Data from receipts and bills can be scanned and uploaded directly into the software, preventing the errors that result from manual data entry. The same convenience and automation can be found in MYOB Essential’s payroll features, which automatically calculate tax and superannuation. These calculations are also automatically updated according to changes to tax laws.
To help you keep an eye on your financials, MYOB Business lets you generate a selection of reports, including YTD reports, payment summaries, accruals, and liabilities. The software also lets you create reports based on GST, PAYG, and BAS.
Moreover, the platform is available at a variety of pricing plans. These pricing plans work great for startups and small businesses who need a simple yet efficient accounting platform that won’t break the bank.
Show MoreOverview of MYOB Business Benefits
Convenient tax reporting and payroll processing
One of the best features of MYOB Business is that it’s a Single Touch Payroll-enabled software. With this feature, the software automatically reports employees’ payroll and tax information to ATO each time you pay employees through MYOB Business. The software also automatically calculates taxes and superannuation, saving you time and effort at the end of pay cycles. Changes to tax laws are also automatically applied to calculations.
Automated, error-free data entry
With MYOB Business, business owners and accounting teams can also avoid the hassle of dealing with paper receipts and bills. The software lets you use a mobile app to scan receipts and bills and automatically fills out forms with the scanned information. This automation ensures data accuracy and reduces the errors that can be caused by manual data entry.
Hassle-free bill tracking
The platform works with companies and local suppliers to make it easier for you to track and approve bills and expenses. Bills automatically appear in the software, so all you have to do is review and approve these. The bills contain detailed supplier information, including total bill amount and individual line items so you’ll see all the information you need.
Organized, on-time invoicing
MYOB Business come with plenty of features to streamline your business’ invoicing activities. You can quickly create professional-looking invoices and quotes and send these even via mobile devices. The platform also lets you set automated invoice reminders and see whether customers have seen and opened your invoices. Once your customers have paid their invoices, the software automatically updates as well. Moreover, your customers will be able to pay you via AMEX, Visa, MasterCard, and BPAY. All these features help reduce the effects of late or unpaid invoices on your cashflow.
Data-driven business insights
With MYOB Business, you can easily get data-driven insights on your business’ financial health. View payment summaries and reports on YTD cashflow, bad debt, liabilities, and deductions and customize these according to date range for comparing against your budget. You can also track taxes (GST and PAYG) and create reports on the data.
Show MoreOverview of MYOB Business Features
- Payroll
- Single Touch Payroll-enabled
- Automatic tax and superannuation calculation
- Mobile timesheet and payslip management
- Automated bills and expenses tracking
- Scanning for bills and receipts
- Link suppliers to send bills to your account
- Automatic import for banking and credit card transactions
- Send professional-looking invoices and quotes
- Automatic payment updates
- Automated invoice reminders
- Track if invoices have been seen, open & paid
- Automatic GST calculation
- Credit card and BPAY payment options
- Create dozens of reports
- Drill down with custom date ranges
- Assess performance and cashflow over time
- Set limits and goals on spending
MYOB Business Position In Our Categories
Because companies have special business-related wants, it is rational they steer clear of seeking a one-size-fits-all, ”best” software solution. Regardless, it would be hard to pinpoint such a software product even among sought-after software systems. The correct thing to do would be to take note of the different chief aspects which need analysis such as major features, pricing, skill levels of the users, business size, etc. Next, you should follow through your product research comprehensively. Have a look at some MYOB Business review articles and scrutinize the other software products in your list more closely. Such detailed research guarantees you steer clear of mismatched apps and select the one which provides all the aspects your business requires.
Position of MYOB Business in our main categories:
TOP
50
MYOB Business is one of the top 50 Accounting Software products
TOP
20
MYOB Business is one of the 20 Online Accounting Software products
It is important to realize that virtually no app in the Accounting Software category will be an ideal solution able to fulfill all the goals of all company types, sizes and industries. It may be a good idea to read a few MYOB Business Accounting Software reviews first as certain solutions may dominate only in a very narrow set of applications or be prepared with a really specific type of industry in mind. Others may function with a goal of being easy and intuitive and as a result lack complicated functionalities welcomed by more experienced users. You can also come across solutions that focus on a broad group of users and give you a complex feature toolbox, however this in most cases comes at a higher cost of such a service. Ensure you're aware of your requirements so that you select a software that offers exactly the elements you look for.
How Much Does MYOB Business Cost?
MYOB Business Pricing Plans:
Free Trial
MYOB Business Payroll Only
$10/month
MYOB Business Lite
$12/month
MYOB Business Pro
$25/month
MYOB Business AccountRight Plus
$60/month
MYOB Business AccountRight Premier
$75/month
What are MYOB Business pricing details?
MYOB Business Pricing Plans:
Free Trial
MYOB Business Payroll Only
$10/month
MYOB Business Lite
$12/month
MYOB Business Pro
$25/month
MYOB Business AccountRight Plus
$60/month
MYOB Business AccountRight Premier
$75/month
MYOB Business offers the following plans:
Payroll Only – $10/month
- Compliant STP (Single Touch Payroll)
- Automated superannuation contributions
- Self-serve employee onboarding
- Manual timesheets
- Send reports directly to the ATO
Lite – $12/month
- Up to 2 accounts
- Income and expense tracking
- Unlimited invoices and quotes
- Payment processing
- Receipt scanning and storage
- GST and lodge BAS tracking
- Tax and basic management reports
Pro – $25/month
- All features of the Lite plan
- Unlimited bank accounts
AccountRight Plus – $60/month
- All features of the Pro plan
- Inventory management
- Bill by time
- Payroll included
AccountRight Premier – $75/month
- All features of the AccountRight Plus plan
- Payroll included
- Multi-currency management
User Satisfaction
Positive Social Media Mentions
11
Negative Social Media Mentions
0
We realize that when you make a decision to buy a Accounting Software it’s important not only to find out how experts evaluate it in their reviews, but also to find out if the real clients and enterprises that bought it are actually happy with the service. That’s why we’ve created our behavior-based Customer Satisfaction Algorithm™ that gathers customer reviews, comments and MYOB Business reviews across a vast range of social media sites. The information is then presented in a simple to digest form showing how many users had positive and negative experience with MYOB Business. With that information at hand you should be ready to make an informed purchasing choice that you won’t regret.
Video
Technical details
Devices Supported
- Windows
- Linux
- Android
- iPhone/iPad
- Mac
- Web-based
- Windows Mobile
Deployment
- Cloud Hosted
Language Support
- English
Pricing Model
- Monthly payment
Customer Types
- Small Business
- Medium Business
- Freelancers
What Support Does This Vendor Offer?
- phone
- live support
- training
- tickets
What integrations are available for MYOB Business?
MYOB Business can be used with a wide variety of add-ons, including:
- Squirrel Street
- Magento
- eBay
- Salesforce
- Eventbrite
- ePages
- Square
- Kounta
- Timely
- MinuteDock
- Spotlight Reporting
- Calxa Premier
- Abtrac
The platform also offers an API for developers.
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