MYOB - an essential accounts package for any serious business
April 26, 2022

MYOB - an essential accounts package for any serious business

Simon Bowen | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with MYOB

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.
  • Allows me to operate my business and know what is happening.
  • Allows me to process wages.
  • Allows me to pay correct superannuation.
I found Xero just a little to plain for my liking, I went with MYOB for my second business as it was easier to do this, and I already knew how it all worked. Xero does have a few features that are pretty good, but overall I think MYOB is a better product.

Do you think MYOB delivers good value for the price?

Yes

Are you happy with MYOB's feature set?

Yes

Did MYOB live up to sales and marketing promises?

Yes

Did implementation of MYOB go as expected?

Yes

Would you buy MYOB again?

Yes

MYOB is very user friendly.
MYOB has always been there to resolve any issues when I have needed that to happen.
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.

MYOB Feature Ratings

10.0
Accounts payable
10
Accounts receivable
10
Cash management
10
Bank reconciliation
10
Expense management
10
Time tracking
10
Fixed asset management
10
Multi-currency support
Not Rated
Multi-division support
Not Rated
Regulations compliance
10
Electronic tax filing
10
Self-service portal
10
Global Financial Support
10
Primary and Secondary Ledgers
10
Intercompany Accounting
Not Rated
Localizations
10
Journals and Reconciliations
10
Enterprise Accounting
Not Rated
Configurable Accounting
10
Centralized Rules Framework
Not Rated
Standardized Processes
10
10.0
Inventory tracking
10
Automatic reordering
Not Rated
Location management
Not Rated
Manufacturing module
Not Rated
10.0
Pricing
10
Order entry
10
Credit card processing
10
Cost of goods sold
10
Order Orchestration
10
End-to-end order visibility
10
Order exception Resolution
10
10.0
Pay calculation
10
Benefit plan administration
10
Direct deposit files
10
Salary revision and increment management
10
Reimbursement management
10
10.0
Dashboards
10
Standard reports
10
Custom reports
10
10.0
API for custom integration
10
Plug-ins
10
10.0
Role-based user permissions
10
Single sign-on capability
10

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