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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

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…

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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

(1-1 of 1)
Companies can't remove reviews or game the system. Here's why
Kati Hesley | TrustRadius Reviewer
Score 1 out of 10
Vetted Review
Verified User
Incentivized
I prepare monthly financial statements for a Client who uses MYOB. They bring me a backup and I prepare adjusting entries and reconciliations.
  • 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
I'm told its good for MAC users
General Ledger and Configurable Accounting (12)
11.666666666666668%
1.2
Accounts payable
30%
3.0
Accounts receivable
30%
3.0
Cash management
30%
3.0
Bank reconciliation
50%
5.0
Expense management
N/A
N/A
Time tracking
N/A
N/A
Fixed asset management
N/A
N/A
Multi-currency support
N/A
N/A
Multi-division support
N/A
N/A
Regulations compliance
N/A
N/A
Electronic tax filing
N/A
N/A
Self-service portal
N/A
N/A
Inventory Management (4)
12.5%
1.3
Inventory tracking
50%
5.0
Automatic reordering
N/A
N/A
Location management
N/A
N/A
Manufacturing module
N/A
N/A
Order Management (4)
N/A
N/A
Pricing
N/A
N/A
Order entry
N/A
N/A
Credit card processing
N/A
N/A
Cost of goods sold
N/A
N/A
Payroll Management (5)
N/A
N/A
Pay calculation
N/A
N/A
Benefit plan administration
N/A
N/A
Direct deposit files
N/A
N/A
Salary revision and increment management
N/A
N/A
Reimbursement management
N/A
N/A
Reporting & Analytics (3)
N/A
N/A
Dashboards
N/A
N/A
Standard reports
N/A
N/A
Custom reports
N/A
N/A
Customization (2)
N/A
N/A
API for custom integration
N/A
N/A
Plug-ins
N/A
N/A
Security (2)
N/A
N/A
Role-based user permissions
N/A
N/A
Single sign-on capability
N/A
N/A
  • A software doesn't have any impact on ROI
It was selected only because it works with MAC. I prefer Thomson Reuter softwares. Software like QuickBooks and MYOB allows uneducated clients to manipulate their numbers when they shouldn't. This makes more work for everyone.
1
Reconciliation, Adjusting Journal Entries
No skills in support
  • 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
Our clients seems hesitant to change softwares so I don't see why we wouldn't be renewing with MYOB
No
  • Third-party Reviews
The client uses this software, therefore I have to use it to make adjustments for the client.
I would advise the client to use quickbooks
  • Implemented in-house
No
Change management was minimal
no lessons were taken away
  • time
  • no support
  • client
None
No
My client doesn't want to pay for something that should be free
They aren't willing to help at all unless you pay
No
  • Reports
  • Banking
  • Inventory
  • Accounts Payable
It is easy to use - I just don't agree with restrictions and functionality
  • None
None
  • Quickbooks
None
  • File import/export
Excel
Doesn't seem to have a lot of integration
Integrate more
Yes
Yes
  • Cleaner look
  • more reports
  • help the client
  • more report options
  • more banking options
  • more regulations
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