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MYOB review for small businesses

Step away from the spreadsheets and get more time back in your day with this easy-to-use accounting software.

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MYOB

When running your own business during the coronavirus crisis, managing the books is usually not at the top of the list of things you want to spend your day doing. An accounting tool that's easy to use and allows you to maintain tight control over your finances is critical to running a successful small business.

MYOB helps you get a clear picture of your business's financial health with a variety of plans to choose from and ongoing support to help you get unstuck when you need it.

Data indicated here is updated regularly
Name Product Price Free Trial? Platform
MYOB
MYOB
$5-$30 per month (For the first 3 months)
Yes
Windows
Mac
iOS
Android
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What is MYOB?

MYOB is a straightforward platform for managing your accounting and payroll needs. It's been designed by Aussies for local businesses of any size and at any stage of growth.

You can track and update your finances when convenient with the mobile app, manage bills and expenses, track when clients receive and open your invoices and pay your staff with a few clicks.


How can I use MYOB for business?

Stay compliant, save time and reduce the stress at tax time with MYOB's stack of features for small businesses including:

  • Single touch payroll reporting
  • Pay your employees
  • Track and prepare GST for your business activity statement (BAS)
  • Manage bills, expenses and invoices
  • Send professional quotes and invoices

How much does MYOB cost?

MYOB offers a variety of features with a mix of payment options. Subscriptions start from $10 per month for purely payroll services and run up to $140 per month for the full suite of payroll and accounting services.

The Essentials product is for online-only access and is split into accounting and payroll services.

Businesses needing a more powerful software with offline access along with inventory and job tracking can consider MYOB's AccountRight plans.


How much does MYOB Essentials cost?

Essentials PayrollAccounting StarterAccountingAccounting + Payroll
Great forBusinesses that only require payroll.New businesses just starting outSmall businesses and sole tradersSmall businesses also taking care of payroll
Cost per month$10$27$48$60

How much does MYOB AccountRight cost?

StandardPlusPremier
Great forBusinesses that need to manage inventoryBusinesses that need to manage inventory and payrollBusinesses that manage multiple company accounts
Cost per month$70$109$140

What do you get with the Essentials version?

Essentials is designed for new and smaller businesses and includes mobile apps for quotes, invoicing and receipt capture as well as card and BPAY payments.

Essentials PayrollAccounting StarterAccountingAccounting + Payroll
Key features
  • Single touch payroll
  • Pay up to four employees
  • Single touch payroll
  • Pay one employee
  • Track and prepare GST for BAS
  • Send quotes and up to 5 invoices per month
  • Manage expenses and up to 5 bills per month
  • Single touch payroll
  • Pay one employee
  • Track and prepare GST for BAS
  • Send unlimited quotes and invoices
  • Manage expenses and unlimited bills
  • Single touch payroll
  • Pay unlimited employees
  • Track and prepare GST for BAS
  • Send unlimited quotes and invoices
  • Manage expenses and unlimited bills

What do you get with the AccountRight version?

Most AccountRight plans include the features of Essentials with additional functions to help businesses track jobs and inventory.

StandardPlusPremier
Key features
  • Calculate and track GST
  • Manage bills, quotes, invoices and expenses
  • Create purchases and manage suppliers
  • Track jobs and manage inventory
Everything included in Standard plus:

  • Bill by time
  • Pay employees
  • Report through STP
  • Pay super
  • Track leave
Everything included in Standard plus:

  • Multi-currency
  • Manage two business accounts

How does MYOB compare against alternatives?

MYOB EssentialsQuickbooks OnlineXero
Key features
  • Single touch payroll
  • Pay unlimited employees
  • Track and prepare GST for BAS
  • Send unlimited quotes and invoices
  • Manage expenses and unlimited bills
  • Single touch payroll
  • Payroll for ten staff
  • Track GST and e-lodge BAS
  • Send custom invoices and quotes
  • Track income and expenses
  • Manage budgets
  • Multi-currency
  • Single touch payroll
  • Payroll for maximum of 200 people
  • Reconcile bank transactions
  • Send invoices and quotes
  • Enter bills
  • Automate superannuation
  • Handle multiple currencies
Price per month$10 - $60$15 - $50$10 - $150
SupportSupport via phone and live chat 7 daysSupport via a dedicated contact number available 8:30 am - 6:30 pm Mon - Fri (AEST)24/7 support via contact form with the option for a callback

How to contact MYOB?

MYOB's support team can be reached via live chat online or phone seven days a week.

For technical support, you can also consult MYOB's online community or review its extensive help section.


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