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MYOB

MYOB

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…

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Recent Reviews

TrustRadius Insights

MYOB is a versatile accounting software that offers various use cases to help businesses manage their finances efficiently. Users rely on …
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MYOB Sucks

1 out of 10
March 17, 2022
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 …
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good

10 out of 10
November 04, 2021
Incentivized
being used for payroll. So far it is the best from the customer support and developer team for API Support. It was hard to use …
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Popular Features

View all 44 features
  • Accounts payable (15)
    5.9
    59%
  • Accounts receivable (15)
    5.9
    59%
  • Bank reconciliation (15)
    5.8
    58%
  • Cash management (14)
    5.3
    53%

Reviewer Pros & Cons

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Pricing

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N/A
Unavailable

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

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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…

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Product Demos

Velixo Reports for MYOB Advanced - Live Results and Smart Drilldown Demo

YouTube

MYOB Demo

YouTube

myob integration demo Screen Stream

YouTube

MYOB Advanced Construction Webinar and Demo

YouTube

PLATTERED| Vegan & Eggless Ready Mixes|MYOB|Live demo & Review

YouTube

MYOB Advanced Construction Edition Demo

YouTube
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Features

Payroll Management

Provides for pay calculation and benefit plan administration, in addition to managing direct deposit, salary revisions and payroll tracking.

6.9
Avg 7.5

Customization

This addresses a company’s ability to configure the software to fit its specific use case and workflow.

6
Avg 7.0

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.

7
Avg 7.9

Reporting & Analytics

Users can report on and analyze usage, performance, ROI, and/or other metrics of success.

5.9
Avg 7.6

General Ledger and Configurable Accounting

Financial management solution, including capabilities for general ledger and configurable accounting

4.8
Avg 7.4

Inventory Management

The ability to track and manage the flow of goods or materials into and out of an inventory.

3.8
Avg 7.0

Order Management

The ability to process orders, and track them from quote to cash.

6.2
Avg 7.4
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Product Details

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.

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

MYOB Technical Details

Operating SystemsUnspecified
Mobile ApplicationNo

Frequently Asked Questions

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.

QuickBooks Online and Xero are common alternatives for MYOB.

Reviewers rate Pay calculation highest, with a score of 7.2.

The most common users of MYOB are from Small Businesses (1-50 employees).
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Comparisons

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Reviews and Ratings

(75)

Community Insights

TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!

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:

  1. 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.

  2. 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.

  3. 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

(1-18 of 18)
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Score 10 out of 10
Vetted Review
Verified User
Incentivized
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.
Score 1 out of 10
Vetted Review
Verified User
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.
Score 3 out of 10
Vetted Review
Verified User
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.
March 17, 2022

MYOB Sucks

Score 1 out of 10
Vetted Review
Verified User
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.
November 09, 2021

MYOB makes my life easier

Julia Billyard J.P. | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
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!!
Score 10 out of 10
Vetted Review
Verified User
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.
November 04, 2021

good

Score 10 out of 10
Vetted Review
Verified User
Incentivized
being used for payroll. So far it is the best from the customer support and developer team for API Support. It was hard to use spreadsheets only so using MYOB Account Right which enables us also to pull data from API is very efficient to track business finances.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
This is the best accounting and Tax software available in New Zealand. it is easy to use and integrates well with other accounting services. We use MYOB payroll for our company but we have other managed services clients who use MYOB AO/AE , Accounts plus, Practice manager, Accounts Right, PDF manager, ACE payroll, etc.
Score 1 out of 10
Vetted Review
Verified User
We have used MYOB for over 25 years on a Mac platform. It was used for service routes (reoccurring monthly billings), construction projects & job costing, A/P and A/R, payroll, inventory management and financials (balance sheet/P&L).
They decided to forego any future investment in keeping up to date with Apple's IOS platform, and they are NO LONGER COMPATIBLE with Apple's most recent operating system. They left users flapping in the wind. Now we have to convert all of our data, customer cards & data over to another accounting system - one that will continue to support Apple operating system for decades into the future - Quickbooks. MYOB officially SUCKS. The way that they left users is deplorable.
Stephen Lalla | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User
Incentivized
We used it for our payables, receivables, payroll, general ledger and ran all of our proforma reports on it. I liked being able to easily email vendors and clients information as well as use it for contact management although it was a very simplified contact management system. For us, having a history to look back on over the years was especially helpful as it allowed our team to closely analyze trends and take appropriate corrective action if and where necessary.
Score 1 out of 10
Vetted Review
Verified User
MYOB is being used for accounts, invoices and the like. The program is very slow to load and has many design and implementation flaws. It is cumbersome and difficult to use.

Be very careful when choosing MYOB Account Right. When Microsoft updates Windows - MYOB's Account Right will no longer work - won't open. ALL the fixes provided by MYOB fail to work as well - I have tried everything they suggest - all I get is error messages.

As a result my business is shutdown because of MYOB being unable to process orders and produce invoices etc. I am now getting the run around with tech support transferring me and making me wait and wait for someone.

It is an appalling situation.

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