MYOB Business Reviews

Pros

Easy to use and well laid out for the end user. Is great for small operations without complex needs.

Cons

Whilst bank rules are very handy - the auto reconciling of transactions can cause problems if rule set up incorrectly. Would be great if there was an option to make bulk transaction changes.

Pros

- Easy to signup and simple setup to get things started
- Pricing - Special offer for new start ups
- Invoice reminders
- Invoice templates look very professional
- Invoice shows when customer / vendor have viewed (SUPER HELPFUL)
- Intray for emailing receipts and tracking

Cons

- Not being able to invoice in multiple currencies, have to workarond this by invoicing in the charable foreign currency then after payment is recieved adjusting the template to the local amount that is received.

Alternatives Considered

Xero

Reasons for Choosing MYOB Business

Made the switch from doing everything the slow manual way! Can never turn back now

Reasons for Switching to MYOB Business

Price and special offer for new startups

Pros

The wide range of features and varied reports that can be produced to assist with trackingn expenditure , budgeting and forecasting.
Regular updates keep us compliant with tax law.

Cons

I do not operate the software. Unable to answer.

Pros

Good basic internal controls so novice bookkeepers can run day to day.
Easy to install and set up.
Reasonably cheap for what you get.
Handles GST well.

Cons

Not the best for Job costings.
Payroll system ordinary serious reporting drawbacks as far as information flow to the General Ledger.
Tends to freeze in reporting production which can lock out users.
Support service is very poor, you get the feeling the staff could care less in resolving issues.
Interactive screen supports not used you have to send a file and wait for a response.
Wait time on the phone for support is very bad.

Pros

Due to the complexities of our business MYOB XO was the standout choice.

Cons

No real downsides to the system. As we were using Viberent as a custom software piece there were some glitches with the API integration but this is to be expected.

Pros

Reasonably easy to use but have found Xero to be much better in almost every way.

Cons

Limited features and limited expandability compared to Xero. No was to have a back up of accounting file on your computer. If or once you decide Essentials ins't for you, they do not offer a way to transfer to their own Account Rite product nor do they off to export data to Xero. They will give you 1 month access as a read only before all data is deleted off their server unless you pay $25 Per month for the remaining 5 years you're required to keep the data

Alternatives Considered

Quickbooks Online

Reasons for Switching to MYOB Business

The only reason I foolishly chose MYOB was because of their time and name in the industry and I knew someone else who used MYOB and found them ok at the time but who is also now in the same situation as me and wanting to change over to Xero.

Pros

As a small business owner not trained in the art of accounting there wasn't a lot we found easy about using MYOB Essentials. The reporting process at the end is probably our highlight.

Cons

We found MYOB Essentials cumbersome to set up and use. The support team was basically of little help. Sending files to our Accountant at the end of the tax year was a pain. MYOB Essentials is better suited to those with a deeper knowledge of accounting than what we have in our business. That is why we switched to XERO which we find much easier and more efficient to use.

Alternatives Considered

QuickBooks Desktop Enterprise

Reasons for Switching to MYOB Business

We chose MYOB Essential based on their reputation as a simple inhouse accounting software solution.

Pros

The ease of using this program. Being able to get into clients accounts and finalising their work.

Cons

I have no issues to report with this program.

Pros

its ease of use, Its simple. Everything is a click a way all bookkeepers and accountnats will have access in the back ground to pullt he data they need to complete tax things

Cons

I would ideally like to see a scheduling app or component added which id desktop and phone friendly

Alternatives Considered

Quickbooks Online

Pros

User experience is great and is easy to use for beginners. As the product has been around for some time, the forums are helpful for common issues and troubleshooting. From my experience the online support chat is helpful when needed. The myob capture app is great for recording receipts and invoices on the go for allocation later on desktop.

Cons

Recurring invoices are a great feature, however for my purposes, I would prefer a create from template feature for recurring contacts. Would prefer to have final say/approval over invoice reminders so the template can be customised to the circumstances. Some basic filtering and sorting features could be added for betting tracking of transactions, invoices, etc.

Pros

Nothing. completely useless. Doesn't comply with ATO requirements unless you have no employees and what business has no employees? Misleading advertising and advice.

Cons

I am a small business with single employee. Noting that one touch payroll was becoming mandatory next year I decided to put my accounts on a basic package to comply. I rang up and they sold me MYOB essentials telling me it would fully comply. After upteem dozen attempts to create a single employee which failed I ring up and they tell me well actually this entry level despite having all the menu structures and appearing online to do payroll does not do payroll at ALL and I need to pay almost double.

I found the set up very very nonintuitive in its coaching. You start one entry set up the field, then it takes you away to a whole different menu you need to complete and then doesn't take you back to where you were. There are heaps of bugs and going online you see everyone else having the same problem.

Pros

Simple and easy to use. A good range of add on products.

Cons

No real ability to grow with your business.
Its really only suitable SME

Pros

-Highly customisable for invoicing and parts inventories.
-Has great reports. We found if you knew what you wanted to keep an eye on in the business, then you could design a report for it. Not all accounting programs or workshop software can do that so easily.
-once it was set up for our workshop, it worked amazingly. Very intuitive

Cons

-We were new to this software, and it took a long time to set it up, (6 mnths), specifically for how we needed it to work. (automotive workshop), You almost needed to be a trained accountant i felt.
-Support used to take at least 1 day if not 2 to get back to you.

Pros

MYOB is intuitive for the user to use, easy to use, simple to setup, has all the features you need to manage the Company finances. Also when regulation changes it quickly incorporates those changes and explains easily how to use the feature.

Cons

MYOB can get quite slow around EOFY - needs more grunt put in place around these times for cloud hosting. There is no live chat within the application for support.

Alternatives Considered

Xero

Reasons for Switching to MYOB Business

Pricing and easier to use.

Pros

Compatible with earlier versions.
Interface is very similar to previous versions.

Cons

Expensive for what it is!
Slow!!!!! For small or casual use it MAY be okay, but for any real data volume, its just too slow. (Even on the latest PC)
Relies heavily on the internet (could be cause of part of the speed problem)
Limited customisation

Pros

I stated my career using MYOB which was my favorite software. It couldn't be beat. But that was over a decade as ago. Since then other contenders have surpassed the software in both useability and practicality. MYOB is still good at the core, especially for accountants and people with an accounting background. However for business owners I think it could be a bit confusing and slightly intimidating.

Cons

One of my biggest pet peeves for MYOB is the rigid structure and inflexible ways to treat transactions. For example, if a bank transaction doesn't match to the cent, there is no quick way of recognizing the rounding error and processing the transaction. Instead a series of clicks into the transacting to edit the amount is required, disrupting your workflow.

Pros

easy to use ,A very easy to use and follow accounting software, the flow of information is easy to follow

Cons

I have been using the MYOB Essentials purely for payroll of a bout 10 employees. I find the customer service frustrating as it seems impossible to actually speak to anyone.

Pros

The systematic features really helps to sort out the accounting issues. I am always leading the task upto the standards and mostly efficiently only using this specialized software.

Cons

The complications of finding a specific set of files is really hectic. I have to go through the whole bunch of files and reenters the balance whenever I have to made some ammendments.

Pros

And I like if anything goes missing my computer gets Stolen or burns or virus then I don't lose everything because it's on the clouds

Cons

The cons are that it is too expensive for what it is

Pros

This program is in the cloud so it can be accessed from anywhere that has internet.

Cons

You couldn't do a recurring transaction.

Pros

I like the dashboards that show the flow of information from beginning to end. Reconciling the bank is very easy to do as well as enter in new sales and purchases. It's also very easy to export data into excel if additional analysis is needed outside of MYOB.

Cons

Generating sales reports, P&Ls, and BS is a bit cumbersome. It would also be nice if it had a 'dashoboard' feature, like xero, that shows all the relevant information on one page. Having one spot to go to for most of the day's relevant information would be very helpful

Pros

Easy to use and can have detailed accounts set up,at 4 levels
Reports are set up so easy to use out of the box
Great program in box

Cons

From an audit perspective not great as you can renter things without an audit trail
No reporting flexibility

Pros

I enjoy using MYOB simply because it does everything you need for a small business - sometimes needs more explanation with accounting though for new people.

Cons

glitches with POS machines is really the only thing I ever came across with this program, so not alot from a small business perspective.

Pros

This software is easy to use . It has all the modules you need to run a small to medium business in todays environment.

Cons

Processing is slow and will freeze the screen Myob does not like large files which is a huge problem.

Pros

Helps a lot with accounting work for clients. Myob essential version allows me to log in and work on in where ever I’m located (as long as I have internet access)

Cons

Only worked when there is internet access available, not available offine.