MYOB Reviews and Ratings

Rating: 7.4 out of 10

Score

7.4 out of 10

Community insights

TrustRadius Insights for MYOB are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.

Business Problems Solved

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Despite criticisms regarding the outdated interface and design resembling software from 1998, as well as occasional compatibility issues with Windows updates causing disruptions for users, MYOB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.

Reviews

19 Reviews

10/10 for me

Rating: 9 out of 10

Incentivized

January 6, 2025

Use Cases and Deployment Scope

Our company business is offering an accounting service, like importing invoices, processing payroll, financial reports, bank reconciliations, ages payables and aged receivables. We are using MYOB app and website to track the client expenses and process payroll. I prefer using the website when it comes to invoices and for the app, for generating reports.

Pros

Payroll processing
Invoices
Financial Reports

Cons

MYOB app just hangs up when opening it
Log history

Likelihood to Recommend

I recommend MYOB because I have been using this toll for years and this is one of the good accounting software have used so far. Other than the financials side of this tool, what I like about it is you can easily generate reports and see the variance if and fix it right away.

Rikki Mae Corpuz

Accountant in Finance and Accounting at Integration Kings (11-50 employees)

Vetted Review

2 years of experience

View profile

ABSS Holding Company File Hostage

Rating: 1 out of 10

May 30, 2023

Use Cases and Deployment Scope

Accounting, stock management

Pros

stock checking

Cons

accessibility to company file

Likelihood to Recommend

After years of using the Premier software, MYOB changed to ABSS and we were suddenly forced to verify the company file every few months, otherwise it turns into a 'Read-only' file. This became increasing difficult, when the online verification was no longer an option and could only be done by international phone call. As time progressed the company file verification became increasingly more often. In the last year, the telephone verification process tells me that our serial number does not exist. This means more time wasted trying to track down a representative that could verify our serial number and allow us to verify the file. After numerous phone calls our company file would be activated and the serial number would now work through the telephone verification. So this means they are deliberately deactivating the serial number and reactivating it when it suits them.

Now we have been informed that they will no longer be able to verify the company file in the near future and to get access to our data, I will have to purchase a one-time only upgrade. This is criminal. They are holding our company data hostage if we do not pay them additional money.

Verified User

General Manager in Customer Service (1-10 employees)

Vetted Review

8 years of experience

MYOB - an essential accounts package for any serious business

Rating: 10 out of 10

Incentivized

April 26, 2022

Use Cases and Deployment Scope

MYOB controls all of the costs and accounts in my business and I'm able to get a snapshot of how we are doing at any time. It is a useful tool for paying wages and issuing payslips and keeping tabs on sick pay, holiday pay, and personal leave accrual as well. All of my superannuation is also recorded directly to the ATO.

Pros

Wages
Accounts
Bill payment

Cons

Wages sometimes need to be corrected as the time sheets do not pull through correctly.

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.

Simon Bowen

Managing Director in Corporate at Visible Recovery Pty Ltd (11-50 employees)

Vetted Review

10 years of experience

MYOB is the WORST accounting software available

Rating: 1 out of 10

April 8, 2022

Use Cases and Deployment Scope

MYOB accounting software basically works but looks and functions like 1998. Unfortunately, their Antipiracy licensing system is absolutely TERRIBLE and verging on the nearly criminal, scam! You must CONFIRM each and every data file and when it doesn't work you have to PAY THEM to fix their own file protection issues. If you don't pay them, they hold your data hostage as your company accounting information file becomes READ ONLY. Permanently. Unless you pay them. This is a total extortion SCAM. I cannot believe a company can operate this way. With a lot of better products available... I don't imagine MYOB is going to survive much longer.

Pros

Nothing

Cons

Licensing
Interface
Reporting
Basically EVERYTHING

Likelihood to Recommend

You should find another alternative. NOW! MYOB is dying dinosaur company and application which should be avoided at all costs.

Verified User

Executive in Professional Services (51-200 employees)

Vetted Review

12 years of experience

MYOB - Good if you don't need support

Rating: 3 out of 10

April 1, 2022

Use Cases and Deployment Scope

Used for basic accounting. Good product as long as you do not need help or support. Over 4 hours on the phone and they still have no idea how to fix their own MYOB upgrade issue. From my experience, backups take too long to be functional. Cannot automate Bank FX feeds, or, Amex corporate cards. In my opinion, if you encounter any problem, give up and use another product as they cannot or will not help. You will spend hours on the phone and they just hang up when they don't know what to do.

Pros

cheap

Cons

Help/support
backup times - no automated backup
bank feeds

Likelihood to Recommend

Simple basic accounting with no complications is good. Bad: Support, backups, foreign currency

Paul Thompson

Finance Manager in Finance and Accounting at VoIPforce Pty Ltd (201-500 employees)

Vetted Review

5 years of experience

View profile

MYOB Sucks

Rating: 1 out of 10

March 17, 2022

Use Cases and Deployment Scope

I have 2 companies in NZ using MYOB, unfortunately. If you call them, at least one hour wait, then often they put you on hold and magically you get dropped out and have to start again. Infuriating, to say the least. We have experienced major system malfunctions for several months with bank feeds which cost me a total of around 12 hours of my time mostly on hold. By the fifth call, they finally admitted there was an MYOB software problem. If you want to ruin your day, just call MYOB and get mucked around. The latest issue is a ghost account they have been charging us for months. After 2 hours and 6 minutes, The operator said it was not his dept so I was transferred to someone who was going to finally cancel the ghost account and arrange a refund for money taken from us and bingo, wouldn't you know it dropped out, went straight to a message saying we are closed. A few choice words slipped out. We have no case # and no other way to try and get things to sort other than call again and go through the first hour of "On hold" propaganda recordings. So now I wait and wait and wait. I think this is the last straw, we are going to change to Xero for our NZ and Australian companies. If you are going to offer a call center, then staff it properly instead of consistently disappointing customers. My final advice if you were thinking about going with MYOB is: Slap yourself in the back of the head, wake up, and don't bother with this absolute cluster of a company.

Pros

Mucks customers around
Makes it difficult to solve problems
Passes the buck

Cons

Call center
Waiting times
Decision making

Likelihood to Recommend

Verified User

Manager in Sales (1-10 employees)

Vetted Review

5 years of experience

Easy to Use With Some Good Time Saving Systems.

Rating: 7 out of 10

Incentivized

March 9, 2022

Use Cases and Deployment Scope

Accounting processes - reporting for the business - managing our BAS/IAS reporting, managing to invoice and receipting, accounts payable, and bank recs.

Pros

Job codes for deeper reporting
Recurring transactions that are customizable
Auto record on recurring transactions
BAS/IAS reports

Cons

Payroll - it's a good system but not for me with casual staff, we have turnover with casuals and I find it admin intensive.
Sometimes it crashes for no reason
The online to offline can be clunky and confusing

Likelihood to Recommend

Easy to use, the recurring transactions make it easy to keep an eye on missed bills and future plans. I really like the auto-record system where the recurring invoices are recorded, great for memberships, etc. It's easy to use and the reporting is great. I use job codes to further break down profit and loss on specific items. I just don't like the online-offline system so I use offline and backup.

Sandra Karamitelios

Director in Corporate at Recruitment Central (Qld) Pty Ltd (1-10 employees)

Vetted Review

24 years of experience

View profile

MYOB makes my life easier

Rating: 9 out of 10

Incentivized

November 9, 2021

Use Cases and Deployment Scope

I use MYOB to monitor our daily cash flow, running expenses and monthly reporting makes life easy to run our BAS, Generate Invoices, and process staff payroll. I run two businesses and use Essentials for a small business I run and Account Right for our main business. Banks feeds are the best time-saving invention ever!!

Pros

Bank Feeds
Payroll
Invoicing

Cons

Better customization of reports

Likelihood to Recommend

MYOB has different packages available, I use 2 different ones for different companies, so depending on your needs MYOB has a program to suit what you need. I personally love bank feeds and payroll functionality.

Julia Billyard J.P.

Owner / Games Master at Elude Escape Rooms (1-10 employees)

Vetted Review

10 years of experience

View profile

MYOB are a waist of time and money. NEVER AGAIN

Rating: 1 out of 10

November 9, 2021

Use Cases and Deployment Scope

For all our accounting.

Pros

[In my experience] MYOB Screwed up all my Quotes and cost me hours of lost time and money

Cons

Credit card fees

Likelihood to Recommend

[In my experience ]MYOB [tries] to charge me credit card fees every time I invoice. I have to UNCHECK the option for each invoice created otherwise I get a rude shock when the MYOB invoice comes around. When I chose to change my accounting software they told me that I can not transfer my contact details over and everything needs to be done manually. Another obvious way of trying to keep customers using their poorly designed and expensive accounting software. I deeply regret ever signing up to MYOB and would never recommend anyone to use them. [I feel that they have] poor service and poor interface. [In my opinion] this was a horrible experience and [I feel that this product] a huge waste of time and money

Adric Spiteri

Founding Director in Marketing at Sure Shot Film (1-10 employees)

Vetted Review

5 years of experience

View profile

Great product, easy to use with a large feature set and a range of integrations

Rating: 10 out of 10

November 5, 2021

Use Cases and Deployment Scope

I use MYOB to manage our company financials including payroll. It integrates into our rostering and point of sale software to import sales and staff data to save entering it manually. It allows us to lodge our BAS and super electronically. It has a lot of time saving and streamlining features.

Pros

Links into our point of sale and rostering software
allows you to do the BAS electronically
updates automatically
links to the bank

Cons

the online version needs work so it operates the same as the PC version

Likelihood to Recommend

well suited to all types of businesses

Brad Franklin

Owner at Hahndorf's Fine Chocolates Geelong (1-10 employees)

Vetted Review

20 years of experience

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