MYOB Business
2 Reviews 5/5 ★ ★ ★ ★ ★An online accounting software for SMBs in Australia and New Zealand.
Product Overview
MYOB Business is an online accounting software designed primarily for small to medium-sized businesses. It includes features like payroll management, GST handling, invoice generation, and expense tracking. MYOB Business also facilitates efficient tax and superannuation calculations.
MYOB can integrate with various business systems like QuickBooks and Xero.
Pros
- Connects to finternational banks with 150+ multi-currency support
- A free 30-day trial is available
- Integrates with 350+ third-party apps
- Can access financial data from anywhere on tablets, smartphones, and computers
Cons
- Payroll is a standalone module
- Primarily serves companies in Australia and New Zealand
- Users mentioned long wait times with customer support
Target Market
Small to medium-sized businesses in Australia or New Zealand with 1-500 employees, especially those in need of multi-currency support for international banking, accounts payable/receivable management, and payroll.MYOB Business is a full-service online accounting system for SMBs in Australia and New Zealand. It can handle accounts receivable/payable, payroll, time sheets, and all other accounting needs. It also has tools to consolidate multiple locations into one dashboard, track foreign currencies, and manage stocks.
MYOB’s reporting tools help businesses view their past and current inventory, revenue, payroll, human resources, and more, to help them make decisions for the future.
Features
- Customizable Invoicing: Users can create professional invoices with customizable templates, including the option to add branding and logos.
- Automated Payroll: Automates payroll calculations, including wages, superannuation, and taxes, ensuring compliance with Single Touch Payroll requirements.
- Inventory Management: Businesses can track stock levels, manage orders, and forecast demand.
- Bank Reconciliation: Allows users to match transactions automatically, ensuring accuracy in financial records.
- Multi-Currency Support: Offers multi-currency functionality, allowing users to manage transactions in different currencies without the hassle of manual conversions.
Pricing
MYOB offers three pricing plans: Lite, Pro, and Payroll Only. Both the Lite and Pro plans come with 14-day free trials.
Product Overview
User Reviews of MYOB Business
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I purchased the software years ago. I used it on my Mac Plus computer. I was selling thousands of products relative to the Screen Printing business. Accounts Payable & Receivable, Sales Tax, Inventory…all the normal business functions. From my perspective the software was a perfect fit for my company.
It was a quick transition process and incredibly easy. Everything was managed from a migration perspective.
Our time spent using online accounting software on a monthly basis has actually decreased. It’s been beneficial [because] as a company, we don’t want to spend time running accounting software. We’ve got bigger business priorities to focus on, such as new business and really preparing for where we’re going to be in one, three and five years.
