MYOB Books & Your Business
Things to Know Before Choosing an Accountant
One of the most common accounting software in Australia and New Zealand is called YOB (Mind Your Own Business). Who typically uses YOB software? They are followed by most of the small enterprises that take it up to do things, including bookkeeping, payroll services, invoice sending and compliance maintenance. Are there any flaws in YOB software? But, as nothing is perfect, there are flaws to this also.
We often meet business owners who:
- You use MYOB and need help fixing, improving, or switching.
- Are you stuck picking MYOB, Xero, QuickBooks, or NetSuite?
- Feel like they're not getting all the benefits MYOB should offer.
This page explains real problems small and medium-sized businesses face with MYOB and how we step in to help.
No matter if you’re using MYOB Essentials, AccountRight, or moving from desktop to the cloud, we make sure your books stay clear, safe, and ready for what’s next.
Many small businesses think NetSuite will be quick and easy. How long can NetSuite implementation actually take? But it can take 6 to 12 months, and hidden costs like expert help, training, and tool links can pop up fast. What hidden costs should I be aware of with NetSuite? Hidden costs like expert help, training, and tool links can pop up fast. Without a clear plan, money can run out early.
Moving info from spreadsheets or old systems is tricky. If things are missing or messy, it can cause problems like bad reports or rule-breaking after launch.
NetSuite lets you change many things, but doing too much can cause harm. If a system is changed a lot, it can become slow, hard to fix, and costly to keep up.
Many users say the help they get isn’t great. Wait times can be long. The answers you get might not fit your issue. You may end up reading general help pages instead of talking to someone who can help directly.
MYOB has both online and desktop versions. However, there are desktop features only. In case you change into both of these, the things might not behave similarly, and it can get annoying.
MYOB FAQ
Q1: What is MYOB, and who is it for?
MYOB is Australian made business software for small and medium-sized businesses. It makes it easier to bill, pay employees, file taxes, manage future orders/stock/main store, and many other features. There are both online and desktop options to choose from.
Q2: Is MYOB good for both bookkeeping and full accounting?
Yes. It manages correspondingly simple undertakings, as bank feeds and expenditure logs, but also complex assignments or duties, like that of payroll, duty costing and also entire financial reporting.
Q3: What issues do people usually face with MYOB?
Some common ones are bank feed errors, login problems, strange menu behavior, and desktop install issues (especially with antivirus tools). Most of these can be fixed using help guides.
Q4: Can I use MYOB on different devices?
Yes. MYOB can be used on desktop, web, or mobile. This lets your team and your accountant access your data, send invoices, and run reports from anywhere.
Q5: Does MYOB handle taxes and payroll?
Yes. MYOB supports BAS and GST in Australia. It also does Single Touch Payroll (STP) and PAYG, making it useful for staying compliant.
Q6: Is MYOB safe to use?
Yes. It uses secure cloud tech, supports two-factor login, and protects your data with encryption. There’s also a secure portal for sharing info with clients.
Q7: Is MYOB easy to learn?
Yes, most of the time. The menus and steps make sense. Some parts, like stock or job costing, might need some extra learning. But help is built in, and there’s also MYOB Academy for training.
Q8: Which MYOB plan should I go with?
It depends on your business:
- MYOB Essentials: Great for sole traders needing basic cloud tools
- MYOB Business (Lite/Pro/AccountRight): Better for teams, includes payroll and stock tools
- MYOB AccountRight Premier/Plus: Desktop version with extra tools for stock and costing
Q9: Can I move my data into MYOB from another tool?
Yes. You are able to import data into it using Excel, Xero and QuickBooks, amongst others. It assists in cleaning up your data and ensuring things are set right at the initial stages.
Q10: What help can I get as a MYOB user?
You can find support through:
- The help icon inside the app
- Online FAQ pages
- Chat, email, or phone (but wait times vary)
- Premium support for AccountRight plans
Q11: Who uses MYOB bookkeeping services for accurate financial management?
Square Accounting supports businesses using MYOB for bookkeeping services, ensuring accurate management of invoices, payments, and financial records.
Q12: Where can I implement MYOB bookkeeping software to improve financial efficiency?
Square Accounting implements MYOB bookkeeping software solutions for businesses to streamline financial processes and improve overall financial management.
Q13: What is the safest method to migrate MYOB to the cloud for bookkeeping purposes?
Square Accounting’s experts ensure a secure migration of MYOB to the cloud, protecting your financial data while streamlining bookkeeping processes.
Q14: What’s the biggest advantage of using cloud MYOB bookkeeping solutions?
The biggest advantage of cloud MYOB bookkeeping solutions is the ability to access real-time financial data from anywhere, helping businesses stay on top of their bookkeeping.
Q15: How can I get MYOB set up correctly for my business bookkeeping?
Setting up MYOB correctly from the start ensures accurate records, clean bank feeds, and reliable reporting. Square Accounting helps businesses configure MYOB for their specific needs, including chart of accounts setup, bank feed connections, payroll configuration, and ongoing bookkeeping support to keep financial records accurate and up to date.
Q16: What is the difference between MYOB online and the desktop version?
MYOB offers both cloud-based and desktop options. The cloud version allows access from any device, supports real-time collaboration with your accountant, and receives automatic updates. The desktop version suits businesses that prefer local data storage. Square Accounting advises clients on which MYOB version suits their business structure and manages the setup process from start to finish.
Q17: Can I import data into MYOB from Xero or QuickBooks?
Yes. MYOB supports data imports from Excel, Xero, QuickBooks, and other platforms, including contact records, transaction history, and chart of accounts data. Square Accounting manages the migration process for businesses switching to MYOB, handling data mapping, cleanup, and verification to ensure financial records transfer accurately without gaps or errors.
Q18: Where can Australian businesses get expert support for MYOB accounting software?
Australian businesses using MYOB can access built-in help guides, MYOB Academy training, and professional bookkeeping support from specialists. Square Accounting provides expert MYOB support for businesses across Australia, handling day-to-day bookkeeping, troubleshooting common issues such as bank feed errors and login problems, and ensuring accounts are maintained accurately.