MYOB is famous amongst accountants. Meaning of MYOB name is “mind your own business” It is an Australian tax and accounting software company, offering a range of products for both small and large businesses in the form of browser-based, cloud-based or physical installation-based software. Furthermore, about 60% of accountants use MYOB accounting software as their main tool to help customers.

Overview Of MYOB

MYOB is developed & founded at Teleware by the team of the developer in the 1980s. It was purchased by the Data-Tech software company in 1993. Data-Tech company was the republisher of the Myobproduct. And Data-tech is an Australian Company. But on 9 July data-tech company has changed its name to MYOB and registered in Australian stock exchange.

Developed in successive corporate and merged solution 6 with MYOB Limited in 2004. Dated on 6 December 2008. MYOB announced Activit and formed its Mac & PC development team from MYOB Limited in Australia. In January 2009. The private equity consortium-led Archer Capital and MYOB Accounting Software had a complete takeover bid, removing MYOB from private ownership.

The MYOB Group L.T.D exited the record of ASX on Wednesday, 8 May 2019 and was traded to private equity from Kohlberg Kravis Roberts.

Why MYOB  Essential

As you understand now its a business accounting software. Now Look at its features, MYOB has lots of partnerships to provide better software usability. One of its best parts is its a Microsoft gold certified partner. It means that You can easily access Microsoft programs. Paypal and others are other partners of MYOB accounting software,  which provide a business startup toolkit that called a business toolkit.

Features Of MYOB

  • Manage customers and suppliers.
  • Bank feed (sync with your bank accounts and credit card).
  • Accept payment by invoice (via PayDirect online).
  • You can keep a record of sale ​​items, services, or both.
  • Track your business expenses and pay expenses.
  • ATO Superstream Compliance.
  • Business inventory management.
  • Works online.
  • Calculate and track GST.
  • MYOB is keeping 7 years of history.
  • Maintain invoices, quotes and statements.
  • It has a payroll feature with automatic leave calculation and real-life entry for employees.

Myob is available for IOs and android mobiles. It will help you work from anywhere while you are away from your desk. The app does not include full access to everything you plan but covers adding invoice tracking, in-app invoice creation, and payment processing.

MYOB Functions

MYOB Supports have many different-different useful and growing functions for users:-

  1. Time billing
  2. Multi-currency
  3. GST ready
  4. Banking
  5. Inventory
  6. Card file management
  7. Jobs management
  8. To do list Reports
  9. Sales & receivable
  10. Purchase and payables

MYOB Account

  1. Allow smart account selection to bring in your transaction entry for the correct account categories.
  2. This platform allows you to open your MYOB company file.
  3. Here you can set your two-year budget for all accounts.
  4. The budget can be imported and exported from Microsoft excel.
  5. You have 26 months allowed for open periods, behind the scenes that you record entry accounting transactions.
  6. Maintain your 7-year history.
  7. Get Started with Accounts Easy Setup Help
  8. Provide 100 sample accounts to create your own account list to create your company chart accounts.
  9. 5 digit company account track 4th level details of your account
  10. Myob Marked as Disabled
  11. You can see by your name and account number.

MYOB Banking

  1. Reduce the sources of your transactions from your bank registrar or transaction journal.
  2. Performed accurately overtime to save recurring transactions.
  3. For regular transactions, you can set a reminder schedule. Here you get a warning if there is any duplicating of the check number.
  4. Recurring transactions, user performance, and alerts on the date.
  5. You can access your previous transactions and create new transactions from your bank register.
  6. As of the previous date, consolidate your bank accounts.
  7. When the error is reconciled, it may end in the previous months of the bank.
  8. When the error is reconciled, it may end in the previous months of the bank.
  9. Bank cohesion recorded its accrued interest and service fees from the bank’s screen.
  10. See your reconciliation report to the previous bank.
  11. Get a report about your unwanted money.
  12. You can see your current account balance and have a look at your bank account status from your bank register.
  13. Enter a memo line for each transaction record.
  14. Include the logo and specific instructions on the payment voucher or receipt.

Core plan

  1. It can cost you from S10 / month
  2. Payroll software for small business with a maximum of 4 employees
  3. If you choose to buy now then the price is S5 / month
  4. It has a provision of 50% discount for 3 months
  5. It uses a single touch payroll (STP) reporting
  6. Here you can pay your employees.

MYOB AccountRight Plan

  1. It is priced at $7.48/ month
  2. Pay your employees here
  3. Now track and prepare your BAS & GST
  4. Send your business invoice and quotation
  5. Accepting credit card payment bill payment
  6. It gave 50% off from $7.97/ month for 3 months
  7. Online and offline accounting with job tracking and inventory
  8. Single touch payroll (STP) reporting here
  9. You can manage bills and you can spend
  10. Timely bill
  11. Job tracking
  12. Manage for you list
  13. Handling multiple currencies
  14. Explore AccountRight and set it free for 30 days

MYOB explore essential plans

  1. It buys that plan is S5 / month
  2.  It is online accounting software and is great for new and small business
  3. 50% off S27.00 / month for 3 months
  4. Single touch payroll (STP) reporting
  5. Pay your employees here
  6. It is required from $7.19 * / month
  7. Can track and prepare bass and GST
  8. Send you your professional quotation and invoice
  9. Manage your bills and expenses
  10. can try for free 30 days
  11. Accepting credit card and BPAY payments.

Customer Care For MYOB Accounting Software

MYOB accounting software has a fully dedicated and supported desk with years of recognized expert experience at your disposal. Each level of support is entirely driven by MYOB EXO Business or MYOB Advanced Professionals, who have worked with hundreds of businesses and thousands of users for many years, meaning you can get great value, providing timely feedback.

Quick and comfort that is right for you. It is almost good and outstanding software you can use it for small and medium-sized businesses. You may encounter many difficulties and many new options for using it the way you use it and if you cannot figure out how to implement these features then you can contact our MYOB accounting software team. Our MYOB here helps you day and night. You can contact any time where you face difficulties.