MYOB Business
Simplify your finances, automate tasks, and gain insights to grow your business.
Executive Summary
MYOB Business is a comprehensive cloud-based accounting software designed for small to medium-sized businesses in Australia and New Zealand. It streamlines financial management by offering solutions for invoicing, payroll, expense tracking, inventory, and tax compliance. The platform aims to automate routine tasks, reduce manual errors, and provide real-time financial insights to support informed decision-making and business growth.
Use Cases
- Managing daily financial transactions, including invoicing, billing, and expense tracking.
- Automating payroll processing, superannuation, and Single Touch Payroll (STP) reporting.
- Ensuring tax compliance with automated GST calculations and direct BAS lodgement to the ATO.
- Tracking cash flow, profitability, and overall financial performance through real-time dashboards and reports.
- Managing inventory levels, tracking orders, and streamlining reordering processes.
- Collaborating seamlessly with external accounting advisors by sharing access to financial data.
Features
Visibility
- Customizable Dashboards: View key financial data at a glance, including cash flow, purchases, and overdue payments, with customizable widgets.
- Advanced Financial Reporting: Generate detailed and customizable reports for Profit & Loss, Balance Sheets, Cash Flow, and more, to gain deep business insights.
- Cash Flow Management: Tools to manage income, track expenses, and forecast cash flow, helping businesses get paid faster and make informed budgeting decisions.
- Business Insights: Interactive tables and graphs to analyze accounts, profitability, and customer outstanding balances, supporting strategic advice.
Intelligence
- Automated Bank Reconciliation: Automatically matches bank transactions with recorded expenses and income, simplifying reconciliation and ensuring accurate financial records.
- Automated Payroll & Tax Calculations: Calculates wages, superannuation, and taxes automatically, ensuring Single Touch Payroll (STP) compliance and direct reporting to the ATO.
- Smart Expense Tracking: Allows users to snap photos of receipts, which are then automatically reconciled with bank transactions for paperless and efficient expense management.
- Customizable Invoicing with Online Payments: Create professional, branded invoices with automated GST calculations and offer online payment options to get paid faster.
Support
- Online Support Requests: Users can log support requests directly through the platform for assistance with product queries or issues.
- Community Forums: Access to a community forum to browse discussions, ask questions, and find answers from other users and MYOB experts.
- Troubleshooting Guides: Comprehensive guides and articles available for common issues, including bank reconciliation, 2FA, and installation problems.
Technical Specifications
- Architecture
- Cloud-native SaaS (for Lite/Pro), Hybrid (for AccountRight Plus/Premier with desktop components).
- Deployment
- Cloud/SaaS
- Authentication
- OAuth 2.0 for API access, Two-factor authentication (2FA) for user login.
- API Available
- Yes
- MCP Server
- No
AI/ML Stack
- Machine Learning
Integrations
- Australian Banks
- ATO
- Xero
- Deputy
- Kounta
Security & Compliance
Encryption: AES-256 at rest (implied by bank-level security and data encryption), TLS 1.2+ in transit (standard for cloud SaaS).
Pricing
- Model
- Tiered subscription (Lite, Pro, AccountRight Plus, Premier), Per employee/month for payroll.
- Starting Price
- Starting from $2/month per employee (Lite), with plans ranging up to $150/month (AccountRight Plus) and custom pricing for Enterprise tiers.
- Target Customer
- Sole Traders, Small to Medium Businesses (SMBs), businesses with 0-1000 employees.
- Contract Type
- Monthly or Yearly subscriptions available, no lock-in contracts.
- Free Trial
- Yes, 14 days. (credit card required)
About MYOB
MYOB (Mind Your Own Business) is an Australian provider of business management solutions for small and medium-sized businesses, offering cloud-based accounting, payroll and practice management software. They deliver SaaS products to help SMEs manage finances, invoicing, tax compliance and payroll across Australia and New Zealand.
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