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MYOB is one of few accounting software websites that offers a range of software packages to suit your specific accounting needs. These vary from its Essentials package, which is suited to small businesses and accountancy beginners, to its personalized systems created for large businesses with over $3 million turnover. It also provides resources and links to accountants, partners and general information for anyone who needs to take care of finances.
We were most interested in the MYOB Essentials package, as it's the cheapest of the three available and also seems to be the most user friendly. This package is best suited to small businesses, allowing you to do all the basic accounting functions you'll need, such as creating invoices, monitoring income and outgoings, and producing reports. It's an easy to use system which should be approachable to most people, whether or not they have a lot of experience in finance. This is also a live system which can be used on a wide range of devices, including mobile technologies. Whilst not expensive, MYOB Essentials is a little pricier than similar products in this category, though, so it's worth taking advantage of the 30 day free trial to make sure it will perform the functions you require.
Another small business software package available from MYOB.com is AccountRight. It's more than double the price of its Essentials cousin, but offers the MYOB PayDirect Mobile app, which is a quick way to invoice and manage your contacts when you're on the move, making it useful for shop fronts. Companies that make more than $3 million turnover a year may wish to check out the “Large Businesses” section of the website, which outlines the more advanced accounting software and services available, which are more able to take on complex banking systems, payrolls and unique company details.
MYOB is used by over 1.2 million businesses, which is an impressive figure. You'll find a few familiar names amongst its current clients, including Boost Juice Bars and Salsa's Fresh Mex Grill. It seems particularly used by retail outlets, probably due to its mobile functions, allowing stalls or small stores to offer purchasing options to its customers, which can automatically feed into its accounting software, saving time in data entry (they approximate around 10 hours per month, which over a year would turn into a lot of lost revenue from paying someone just to sit and type up numbers).
MYOB doesn't have it all but it does a good job in the areas it focuses on. It also offers a range of software packages and services to suit your needs. If you're a retailer then MYOB might be of particular interest to you, so why not try out its free 30 day trial and see what you think?
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