Overview
What is MYOB?
MYOB now has a suite of subscription-based products and a browser-based accounting product that was released in August 2010. On 24 October 2012, MYOB released AccountRight Live - the cloud-enabled version of its flagship product. MYOB competes with Xero and…
ABSS Holding Company File Hostage
MYOB - an essential accounts package for any serious business
MYOB is the WORST accounting software available
MYOB - Good if you don't need support
MYOB Sucks
Easy to Use With Some Good Time Saving Systems.
MYOB makes my life easier
MYOB are a waist of time and money. NEVER AGAIN
Great product, easy to use with a large feature set and a range of integrations
good
MYOB - it works - but it needs improvement to be recommended.
The best accounting software!!
Never again. Buggy platform, poor communications, and terrible customer service.
MYOB dropped Apple IOS software updates WITHOUT NOTICE
MYOB was great initially but there are other more affordable options
Popular Features
- Accounts payable (15)5.959%
- Accounts receivable (15)5.959%
- Bank reconciliation (15)5.858%
- Cash management (14)5.353%
Pricing
What is MYOB?
MYOB now has a suite of subscription-based products and a browser-based accounting product that was released in August 2010. On 24 October 2012, MYOB released AccountRight Live - the cloud-enabled version of its flagship product. MYOB competes with Xero and QuickBooks.
Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
Would you like us to let the vendor know that you want pricing?
12 people also want pricing
Alternatives Pricing
What is Xero?
Xero is an online accounting software product for small businesses and personal finance. Its features beyond general ledger and double-bookkeeping include quotable invoicing, bank reconciliation, purchase order and expense management, and tax management. Third party apps can extend its features…
What is Oracle Fusion Cloud Enterprise Performance Management?
Oracle Fusion Cloud Enterprise Performance Management (EPM) is a solution that helps users model and plan across finance, HR, supply chain, and sales, streamline the financial close process. Oracle Cloud Enterprise Performance Management (EPM) Platform is a framework of the technical and functional…
Product Demos
Velixo Reports for MYOB Advanced - Live Results and Smart Drilldown Demo
MYOB Demo
myob integration demo Screen Stream
MYOB Advanced Construction Webinar and Demo
PLATTERED| Vegan & Eggless Ready Mixes|MYOB|Live demo & Review
MYOB Advanced Construction Edition Demo
Features
Payroll Management
Provides for pay calculation and benefit plan administration, in addition to managing direct deposit, salary revisions and payroll tracking.
- 7.2Pay calculation(11) Ratings
Pay calculation provides for computation of employee pay with state and federal deductions.
- 6.9Benefit plan administration(7) Ratings
Benefit plan administration is administration of health insurance plans and 401k plans, and other benefits.
- 7Direct deposit files(9) Ratings
Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.
- 6.9Salary revision and increment management(7) Ratings
Salary revision is the ability to modify individual employee pay.
- 6.8Reimbursement management(7) Ratings
Reimbursement management provides cash reimbursement for employee expenses related to business travel or other.
Customization
This addresses a company’s ability to configure the software to fit its specific use case and workflow.
- 5.9API for custom integration(6) Ratings
An API (application programming interface) provides a standard programming interface for connecting third-party systems to the software for data creation, access, updating and/or deletion.
- 6.2Plug-ins(5) Ratings
A number of third-party plug-ins are available to expand the core functionality of the software.
Security
This component helps a company minimize the security risks by controlling access to the software and its data, and encouraging best practices among users.
- 6.9Single sign-on capability(10) Ratings
The software system supports a centralized authentication mechanism allowing the user to access multiple systems with a single, centrally managed password.
- 7.1Role-based user permissions(11) Ratings
Permissions to perform actions or access or modify data are assigned to roles, which are then assigned to users, reducing complexity of administration.
Reporting & Analytics
Users can report on and analyze usage, performance, ROI, and/or other metrics of success.
- 6Dashboards(10) Ratings
Users can create, customize and share dashboards, which provide an overview of the most important metrics.
- 6Standard reports(11) Ratings
The software offers pre-built reports with metrics standard to the category.
- 5.7Custom reports(10) Ratings
Users can create custom reports.
General Ledger and Configurable Accounting
Financial management solution, including capabilities for general ledger and configurable accounting
- 5.9Accounts payable(15) Ratings
This includes the automation and tracking of payment to vendors and suppliers, with features such as payment scheduling, check printing, open purchase order alerts, document management, direct ACH bill payment, and vendor records.
- 5.9Accounts receivable(15) Ratings
This includes the management and automation of invoices and collections, with features like statements, invoices, receipts, payment reminders, customer records, auto billing, and refund checks.
- 5.3Cash management(14) Ratings
The software provides a complete picture of a company’s cash flows, streamlines payment processing, and includes cash forecasting.
- 5.8Bank reconciliation(15) Ratings
The software connects to a company’s financial institutions in order to reconcile accounting records with checking, savings and credit card accounts. Often month and year closing capabilities are included.
- 6.1Expense management(11) Ratings
The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.
- 6.2Time tracking(6) Ratings
The software can track billable and non-billable employee time by project.
- 4.9Fixed asset management(8) Ratings
This includes the ability to track fixed assets (e.g., laptops), including location, check-in and check-out, maintenance scheduling, audit history, specialized property tax period reports, cost and depreciation.
- 2Multi-currency support(7) Ratings
The software supports transactions across multiple currencies.
- 2Multi-division support(6) Ratings
The software is flexible and supports bookkeeping practices along multiple dimensions such as locations, branches or products.
- 4.8Regulations compliance(8) Ratings
The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.
- 5.1Electronic tax filing(9) Ratings
The software provides a full electronic interface for the filing of repeatable taxes, such as payroll or sales tax.
- 6.2Self-service portal(7) Ratings
The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.
- 6.3Global Financial Support(5) Ratings
Account using multiple ledgers, multiple currencies, and multiple entities
- 5.6Primary and Secondary Ledgers(7) Ratings
Record and report across multiple currencies and accounting standards with primary and secondary ledgers
- 2.1Intercompany Accounting(5) Ratings
Automatically balance and reconcile GL for intercompany transactions
- 6.3Localizations(5) Ratings
Meet reporting requirements with country-specific localizations
- 5.3Journals and Reconciliations(11) Ratings
Automate and synchronize ledgers and processes
- 2.9Enterprise Accounting(4) Ratings
Create accounting for disconnected ERP and non-accounting source systems
- 4.8Configurable Accounting(8) Ratings
Configure accounting rules and segments for each chart of accounts
- 2.5Centralized Rules Framework(3) Ratings
Integrate disparate ERP and transactional systems into single ERP instance
- 5.7Standardized Processes(7) Ratings
Centralize financial management to facilitate standardized financial processes
Inventory Management
The ability to track and manage the flow of goods or materials into and out of an inventory.
- 6.6Inventory tracking(8) Ratings
The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.
- 2.9Automatic reordering(5) Ratings
The software can be set up to automatically reorder a good when it falls below a certain threshold.
- 2.8Location management(5) Ratings
The software can track multiple goods across multiple locations.
- 2.7Manufacturing module(5) Ratings
The software helps track and manage raw materials, work-in-progress items, and finished goods.
Order Management
The ability to process orders, and track them from quote to cash.
- 6.2Pricing(6) Ratings
Users can set up complex and unique pricing requirements.
- 6.2Order entry(6) Ratings
Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.
- 6.2Credit card processing(5) Ratings
The software facilitates credit card processing.
- 6.2Cost of goods sold(6) Ratings
The software calculates the direct costs attributable to a finished product, such as materials and labor, and includes roll-up pricing.
- 6.2Order Orchestration(4) Ratings
Define and execute order fulfillment processes for products as well as services on the same order.
- 6.2End-to-end order visibility(4) Ratings
Get updates on orders, inventory, shipments, planned supply, and invoices, and improve the quality of decisions through in-context analytics
- 6.2Order exception Resolution(4) Ratings
Monitor fulfillment tasks and resolve issues, view and evaluate varios options via what-if analysis and define and enforce change order rules
Product Details
- About
- Competitors
- Tech Details
- FAQs
What is MYOB?
AccountRight Live is offered on three pricing tiers. The lowest tiered Standard package, available at $43 per month, calculates GST, automates bills, quotes, invoices, and expenses, creates purchases and manages suppliers, tracks jobs, and also manages inventory. The Plus plan manages payroll for $70 per month. And the Premier package manages multiple company accounts for $99 per month.
MYOB Competitors
- QuickBooks Online
- Xero
- Sage 50cloud Accounting (formerly Sage 50 Accounting)
MYOB Technical Details
Operating Systems | Unspecified |
---|---|
Mobile Application | No |
Frequently Asked Questions
Comparisons
Compare with
Reviews and Ratings
(76)Community Insights
- Business Problems Solved
- Recommendations
MYOB is a versatile accounting software that offers various use cases to help businesses manage their finances efficiently. Users rely on MYOB to monitor daily cash flow, track running expenses, and generate monthly reports for easy BAS processing, invoicing, and staff payroll. It is widely used by businesses of all sizes, with Essentials catering to small businesses and Account Right serving as the primary choice for larger enterprises.
One of the standout features of MYOB is its bank feeds functionality, which has been praised by users for saving them valuable time. This feature allows users to import sales and staff data from rostering and point-of-sale software, streamlining data entry and facilitating accurate reporting. Additionally, MYOB's payroll capabilities are highly appreciated by users, enabling them to issue payslips and keep track of sick pay, holiday pay, and personal leave accrual. The integration with other software systems, such as rostering and point of sale, further enhances the user experience and simplifies data management.
Furthermore, MYOB supports basic accounting tasks like payables, receivables, payroll, and general ledger management. Its proforma reports are widely used for financial analysis and trend analysis, empowering businesses to make informed decisions based on real-time snapshots of their performance. While some users have encountered difficulties with customer support and experienced issues with backups taking too long or automating bank feeds and Amex corporate cards, MYOB remains a popular choice for managing various accounting processes such as reporting, invoicing, accounts payable, bank reconciliations, and payroll.
Despite criticisms regarding the outdated interface and design resembling software from 1998, as well as occasional compatibility issues with Windows updates causing disruptions for users, MYOB continues to be considered a reliable accounting and tax software solution. Many users in New Zealand particularly trust MYOB for their accounting needs. However, some users have opted to switch to other accounting systems like Xero due to dissatisfaction with MYOB's support and functionality. Overall, MYOB has proven effective in handling a range of accounting needs, including purchases, invoices, sales, POs, payroll, and inventory management, making it a valuable tool for businesses across various industries.
Based on user reviews, here are the most common recommendations for MYOB:
-
Users suggest comparing MYOB with other software options to find the best fit for their organization. This allows for a thorough evaluation of features, pricing, and suitability.
-
MYOB may not be recommended for small businesses, although specific reasons are not provided. Small business owners should consider alternative software options tailored to their needs.
-
While some users have experienced slow performance, MYOB still fulfills necessary accounting needs. Despite the speed-related issues, MYOB offers adequate functionality.
When considering accounting software options, it is crucial to take these recommendations into account alongside factors like budget, scalability, and specific business requirements.
Attribute Ratings
Reviews
(1-1 of 1)I didn't get to choose, MYOB was put in my lap.
- Its clean
- allows you to undo a reconciliation
- easy to use
- Allows the client to manipulate dates when that can screw up their books
- constantly freezes which causes the file to be corrupt
- force balances the balance sheet
- Accounts payable
- 30%3.0
- Accounts receivable
- 30%3.0
- Cash management
- 30%3.0
- Bank reconciliation
- 50%5.0
- Expense management
- N/AN/A
- Time tracking
- N/AN/A
- Fixed asset management
- N/AN/A
- Multi-currency support
- N/AN/A
- Multi-division support
- N/AN/A
- Regulations compliance
- N/AN/A
- Electronic tax filing
- N/AN/A
- Self-service portal
- N/AN/A
- Inventory tracking
- 50%5.0
- Automatic reordering
- N/AN/A
- Location management
- N/AN/A
- Manufacturing module
- N/AN/A
- Pricing
- N/AN/A
- Order entry
- N/AN/A
- Credit card processing
- N/AN/A
- Cost of goods sold
- N/AN/A
- Pay calculation
- N/AN/A
- Benefit plan administration
- N/AN/A
- Direct deposit files
- N/AN/A
- Salary revision and increment management
- N/AN/A
- Reimbursement management
- N/AN/A
- Dashboards
- N/AN/A
- Standard reports
- N/AN/A
- Custom reports
- N/AN/A
- API for custom integration
- N/AN/A
- Plug-ins
- N/AN/A
- Role-based user permissions
- N/AN/A
- Single sign-on capability
- N/AN/A
- A software doesn't have any impact on ROI
- allow the client to use the software they want
- provide financial statements
- inventory
- allow the client to use the software they want
- financial statements
- inventory
- if other clients want to use this software, we can use it to give them what they want
- financial statements
- inventory
- Third-party Reviews
- Implemented in-house
- time
- no support
- client
- Reports
- Banking
- Inventory
- Accounts Payable
- None
- Quickbooks
- File import/export
- Cleaner look
- more reports
- help the client
- more report options
- more banking options
- more regulations