Online accounting & payroll for every business
4/5 (73 reviews)Pros
Payroll and Budgeting and very easy to use. Nice features with Invoice design also.
Cons
The Journals report is awful, no Fixed Asset register. No reports on Payroll hours worked.
For a small firm with limited reporting requirements it is okay but for any jobs with Work Breakdown Structure requirements it comes up short and becomes a limiter for the company. I get very frustrated with the after sales support system. It is not customer focused and leaves you wondering why you pay for it.
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.
I have been a business user of MYOB for other companies using bigger MYOB packages for over a decade and find it fairly good although it has serious bugs which are reported by the truckload by all the accountants I know and they are NEVER fixed even after a decade. Like how the excel file download makes all the numbers text and the "manual calculation" field is auto set meaning you have to reformat each and every download twice (format numbers and turn on auto calc) to use the spreadsheet to add up.
Designed and run by non accountants
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.
Great accounting, and always updating with new features. Our accountant could just log in and do our end of years immediately.
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.
We have been using MYOB accounting plus for over 10 years and recently upgraded to the new Accountright 2013.
The new version is very similar to the old and this makes it relatively easy to adjust to. There was a bit of dancing converting 10 years of accounting data to the new format and eventually we got that done and away we went.
The first thing that struck us was how slow it seems in comparison to the previous software. (MYOB Accounting plus v14). Data entry is not fluid and constant delays in processing. We contacted MYOB support regarding this and "they are working on the problem" so it appears it is a common problem.
It is updated with the latest reports and payroll taxes and supposedly compliant with the ATO.
There is a greater range of reports available but still the customisation options are limited. What you see is what yo get, give or take a field or two.
The "cloud" idea is novel, but due to the speed restrictions it is of little real benefit.
Payroll is the biggest change complying with the new regulations, and taxes, but unfortunately MYOB doesn't allow upgrading of the tax tables without paying for an endless subscription which equates to approximately $800 per year.
Overall if you like the early MYOB and can handle the speed reduction then its an okay upgrade. If it wasn't for the reliance on MYOB data for the previous 10+ years and the swift talking sales rep that convinced management to upgrade, I would personally be looking at alternatives.
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
Has been around for a long time. Tried and tested and is a great product. Starting to price a little higher but still competitive - especially if you have employees.
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.
The software is good for a small entity but once you grow and need more detail it becomes a handbrake on information.
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.
The benefits are countless. I am really happy and exceptionally relaxed with using this software. By far, its the most reliable and efficient software that I have encountered.
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.
I have been using this software for over 10 years it is a bit expensive but works well
Especially after it went to cloud based
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
Being in the cloud makes access to this program easy. It is user friendly and easy to navigate. The cost did increase quite a bit over the 6 years I was using it but it is pretty relative to other accounting software available.
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.
This software is easy to use and organize. This software allows me to track and update information easily and in a timely manner
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
Good program for small business and very easy to fix mistakes but no audit trail
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.
The background of MYOB needs to be updated to keep up with the updates
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.
Makes my work life convenient
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.
To be more flexible on forms and reports
Pros
Editing and backup easy to manage and restore function for any error or lost of data to be fixed easily
Cons
Cannot customise report and limited on letters and character to be insert. Control on printing page is not user friendly
Pros
I used MYOB a few years ago. At that time MYOB seems the only one which is capable of doing accounting tasks in Australia
Cons
I used MYOB a few years ago. At that time MYOB online version seems poorly designed, not suitable for multitasking
I would recommend it to someone say a professional bookkeeper, I found Quickbooks to be more user friendly for easy bookkeeping soultuons also finding Quickbooks a lot cheaper than MYOB.
Pros
Very detailed, Easy to add transactions.
Cons
I found the software was not very “user friendly” especially as someone who isn’t the greatest at Bookeeping, the terms (words) and navigation was very hard sometimes. I ended up switching to Quickbooks.
Good for small business and do not need to worry about back up when you are using cloud version
Pros
Have most of the function and very stable software.
Cons
The platform looks a bit old fashion and payroll function is not easy to use.
Pros
I have used MYOB for years, it's perfect for getting the job done, and easy to use.
Cons
Sometimes the ability to change or delete transactions is a little bit dangerous.
Keep clients complaint!
Pros
This product makes the day to day task of a business owner more professional!
Cons
the Cost of the software could put a few people off!
Pros
Simple in most cases to use and looks good, integrates with our hire software well , if any issues the help section normally answers the query so no need for customer service.
Cons
I have found it to be slow and sluggish at times, some of the processes are over complicated and difficult to understand/process.
Pros
This is one of the mainstream products available around and has a lot of users all over the globe. There is a great chance that your accountant is familiar with this and will be able to make great recommendations
Cons
Updates can be cumbersome and provided they work well they are easy to apply. I have had a couple of instances where we needed support and it has been very lacking. General technical support is poor with cancelled webinars and staff which appear not to know more than the most basic for troubleshooting.
I've been using MYOB for many years, mainly to raise invoices and purchases, plus to track the P&L and balance sheet. It's a pretty robust product that doesn't need specialist instruction to use the basic functions, but it started getting pretty annoying when I upgraded late 2013 and now one has to be connected to the internet in order to use it. That means if your internet connection is down or you're out of WIFI reach on the road, you can't do anything with your company files. That's my biggest complaint.
Pros
Fairly easy to use; robust
Cons
You have to have internet connection to use your company files.
Pros
Very easy to navigate and simple to use. Search function for invoices is good now that you can see POs.
Cons
Wish it would export data to excel!! Had to manually build a database of 300 invoices! Too easy to go back and delete stuff too which then doesn't stay on the audit trail, once it's gone it's gone! Would like to see some detail from the invoice when it searched for rather than having to go into it.
Windows based product with very easy to use menus. It has all the bells and whistles of modern accounting software. I particularly liked the Payroll and Budgeting. Its a product that I believe needs to be tested by accountants. I think some aspects would be tricky for bookkeepers whereas other aspects accountants pull their hair out and the lack of reporting options and some silly rules that make it harder to use. I don't get the impression that they listen to your feedback. Sadly the organisation has some arrogance. I noted this particularly when being trained in the product. The organisation would benefit greatly from listening to feedback and improving its report options. For example. No comparative Balance Sheet. No reports which can be produced relating to staff hours. The journal report is woeful, sadly you have to use journal more than you would want. No Fixed Asset Register. On the other hand I love the budget reports, very easy to manipulate. The graphs which come with the budget are useless. The ease to enter pay roll data is awesome. I love the bank feeds and many more aspects of this package. I think if they combine the best aspects of Account right and Essentials to target medium sized entities, MYOB would be hard to beat.