Five Features Of The New MYOB Business Package

MYOB has officially unveiled MYOB Business, marking a new chapter for its services, with a more value-driven approach to helping customers. MYOB has spent thirty years developing accounting software products to help small businesses manage the accounting and payroll functions. They’ve always responded to the changes within the business environment based on what their customers needed, and MYOB Business is yet another step forward.

What exactly is MYOB Business?

MYOB Business is the latest accounting service software that has come in to streamline the best parts of existing MYOB software, MYOB AccountRight and MYOB Essentials. The big changes include a new dashboard, customisable invoicing, automated payroll and much more.

The reason for these changes is that MYOB has been working to simplify and realign its small business products into a single online solution. They will no longer be selling solutions under the names MYOB AccountRight or MYOB Essentials, instead MYOB Business will be the go-to platform for Australian businesses.

Who is it for?

MYOB Business is tailored to small businesses to alleviate pressure and help streamline all accounting and payroll processes. Whether you’re getting ready for tax time or paying your team members, MYOB Business can give you an all-access pass to every aspect of your business, with all the information you need in one place. You can say goodbye to the messy troubles of using multiple apps just to manage the day-to-day accounting aspects of your business.

Five key features of MYOB Business

At SouthEast IT we are excited about some of the new features of MYOB Business. We’ve put together a list of features that we believe are going to help small businesses streamline their processes and achieve the best results.

1. New dashboard

Nothing says streamlined process more than a well-designed dashboard to house all your businesses accounting information and data. You can see your cash flow at a glance, check on purchases, see overdue payments and get support, all in the one screen.

2. Customised invoicing

You can now up your invoice game by adding your logo and branding to the MYOB Business customisable invoice templates to make them your own and look professional. You will also be able to automatically prefill GST to your Business Activity Statement (BAS), meaning you won’t have to deal with manual calculations or surprises on how much you owe.

3. Automated payroll

MYOB Business will include automated online payroll. Say goodbye to your old calculator and hello to MYOB Business calculating your employee’s wages, superannuation and taxes for you. You’ll also be able to report directly to the ATO, which means you will be Single Touch Payroll compliant.

One of the key features we love is the pricing. Unlike other solutions that have tiered pricing, with MYOB Business you only pay for the exact number of employees you have on your payroll. This represents excellent cost savings.

4. Add expenses on the go

Snap a photo of your receipt and upload it into MYOB Business. It will be reconciled with the relevant bank transaction, making bookkeeping so much faster, easier and paperless for your business.

5. Manage your business on the go

You can now do business anywhere from any device including Mac and Windows. MYOB Business will allow you to send invoices, track expenses, manage cash flow and collaborate from any device. Your data will still be kept safe and secure, and will be backed up in real-time and stored in the cloud, ensuring you can work on the go effectively, and securely.

What does this mean for existing Essentials or AccountRight customers?

If you’re an existing customer of MYOB Essentials or AccountRight you might be wondering how the launch of MYOB Business will affect you and your business.

If you’re currently using MYOB Essentials or AccountRight, you can continue to use these services. MYOB will also offer you a chance to upgrade or downgrade your current subscription with these products if you choose to. This means there will be no changes to the feature set currently available to existing customers. The new flexibility and pricing available with MYOB Business will soon be accessible, with plans for it to arrive in the next year. The choice is yours.

MYOB Business is ideal for new and existing small businesses

Whether you’re a brand-new business, or have been using one of the MYOB accounting software systems for a while, we believe MYOB Business includes some great new features that will add value to your business. 

It is very user friendly, and has all the functionality needed to manage essential accounting and payroll functions. It is also flexible, and customisable, and easily integrates with over 350 applications to streamline data exchange and make the administrative side of running your business a lot smoother.