Likelihood to Recommend
MYOB is suitable for any business. I have two different businesses and both use MYOB effectively. I use MYOB to pay wages every fortnight for both businesses. This enables me to track exactly what is happening with everyone's different sick leave and holiday entitlements easily. I'm also able to keep track of expenditure and balance and reconcile the accounts against bank statements.
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QuickBooks Premier is not well suited to manufacturing industries, as it cannot handle the complicated inventory requirements of raw materials, work in process, and finished goods. Retailers and Wholesalers can use QuickBooks Premier as long as they have an add-on inventory tracking program or Point of Sale system that integrates with QuickBooks. Likewise, restaurants would need specialized restaurant software that integrates with QuickBooks Premier. Non-profits can use QuickBooks Premier non-profit edition, but if they use fund accounting, it will require some complicated work-arounds. QuickBooks Premier is well-suited to most construction trades, personal and professional services providers, small retailers, and rental property owners.
Read full review Pros MYOB is very easy to navigate and find the correct information. The Help section was very straight forward and very easy to learn. MYOB was a great accounting tool for our business as it provided the accountant, sales, etc all of the information they need all in one place. Read full review The program is easy to learn and use. We can train our clients' personnel how to use the program with out difficulty. It is easy for clients to generate bills and manage accounts receivable. It is easy to manage accounts payable and allows clients to pay their bills electronically. Transactions can be imported electronically for credit card and banking transactions. It is easy to reconcile bank and credit card accounts. We can import data generated by QuickBooks into our tax and accounting software. Read full review Cons [In my opinion,] horrible interface to import data [In my opinion,] user interface stuck in 1995 Needs improvement to usability Contestant price increases [In my opinion,] new in-app advertising is annoying Countless different windows to do simple tasks like onboard an employee [In my experience,] too slow Read full review I would like to be able to choose how i want to view accounts receivable aging. I would like some flexibility to sort and choose how to present the data. For a seasoned accountant, I would like to see some of the restrictive controls that are in place for novices to be able to be relaxed so that I can easily make some entries and adjust some balances that ordinarily a regular user would not be able to do. I would like to see an easy way to clear old outstanding checks that need to be reversed without affecting prior balances/history. Read full review Likelihood to Renew
Our clients seems hesitant to change softwares so I don't see why we wouldn't be renewing with MYOB
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Because we have been extremely happy with the product and our organization tends to be creatures of habit. We rarely leave a product that works this well for the latest and greatest. Typically we follow the "if it's not broken, don't fix it rule". While QB does make changes we typically just roll with it. If we do find something we don't like we work through it until we fully understand its functionality.
Read full review Usability
All of the MYOB products are easy to use. Most of our clients use MYOB ACE payroll and Essentials but some of the customers who are proper accounts use a range of products like Account Right MYOB AE/AO, Practice manager, TAX manager, etc. I have never heard of any complaints and the support contacts are always approachable.
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QuickBooks is an amazing tool that provides all of the necessary features needed to run the finances of a company. I would like for QuickBooks to provide better resources for training. There are many features that go unused because of lack of knowledge.
offers chatting and calls on their platform and they make it easy and accessible to get answers and solutions.
Read full review Reliability and Availability
This is very reliable software, the desktop version is fast. If there is a problem, it is most likely on your own hardware!
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It takes forever to load.
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MYOB accounting software basically works but looks and functions like 1998. Unfortunately their Antipiracy licensing system is absolutely TERRIBLE and verging on nearly criminal, scam! You must CONFIRM each and every data file and when it doesnt work you have to PAY THEM to fix their own file protection issues. If you dont pay them, they hold your data hostage as your company accounting information file becomes READ ONLY. Permantly, unless you pay them. This is a total extortion SCAM. I cannot believe a company can operate this way. With a lot of better product available... i dont imagine MYOB is going to survive much longer.
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This is an awesome product and the support team is very knowledgeable. The product is mature, so there are not a lot of bugs and the support team really solves problems quickly. Usually it is a user error issue, but the support desk helps me out. I love the fact that it is US based support.
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It is important to do your research. There are tutorial videos online that could help new user of this accounting system. These tutorials are straightforward and easily understandable.
Read full review Alternatives Considered
Not even close. Though I will say MYOB had a budget module where
doesn't which is one thing severely lacking in
. On the other hand,
allows for payment processing integration without trying to get a cut from the process whereas MYOB allowed for payment processing but you had to go through their service only and it wasn't cheap.
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QuickBooks Premier handles most of my business functions efficiently in one package. It is not my "everything." I use Replicon for time rather than QuickBooks. I don't want my WIP data interfering with my accounting. I use PaySimple for it's web interface and back office processing. I don't have security issues since I don't have any credit card data in my possession. With today's identity theft environment, I have to protect myself as much as I can. Not having credit card data in my accounting software lets me sleep much better at night. Quicken will do basic accounting but does not have all the double entry accounting systems contained in QuickBooks. QuickBooks Online does much of the basic business functions but I don't like the pricing structure. As a professional accountant, that is very important to me. Bill.com provided a good service but the ability of QuickBooks to add bills and receipts to transactions makes it redundant.
Read full review Scalability
They're getting better. Still room for improvement.
Read full review Return on Investment It was great when we first started using it but there was a time when MYOB stopped supporting payroll tax tables for Apple computers and so we made the switch. While we were using it staying on top of all of the pesky accounting details was a breeze. We were very detail oriented to begin with and had a thorough understanding of basic accounting principles but anyone without even basic knowledge can quickly set up MYOB and get running fairly quickly and provide detailed reports to their CPA or CFO consultant for a deeper analysis of their business. Read full review Since our financials are kept very up to date, it helps us compare our financial results to prior years and it is used for our internal goal setting. Due to the accountant copy function, we are able to provide better service since our clients are not waiting on us to fix historical data. They can continue their operations uninterrupted. The import feature certainly speeds up the process of accounting for our payroll. As previously mentioned, it takes about a minute to do our entries for payroll and check them. Read full review ScreenShots