MYOB Business software for small businesses

When you run your own business, 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 Business 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.

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What is MYOB Business?

MYOB Business is a straightforward platform for managing your accounting and payroll needs. It's been designed by Aussies for small to medium businesses at any stage of growth, with a range of plans available to suit the accounting needs of different businesses.

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.

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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

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How much does MYOB Business cost?

MYOB Business is available in a range of subscription plans to suit the requirements of different small businesses. The purpose and monthly cost of these plans are detailed in the table below.

It's also worth mentioning that at the time of writing (January 2024), MYOB was offering a deal allowing new users to trial a plan for free for 30 days, and then get 50% off the standard prices listed below for the next 3 months.

	MYOB Business Lite	MYOB Business Pro	MYOB Business AccountRight Plus	MYOB Business AccountRight Premier
Cost	$31 / month	$58 / month	$141 / month	$177 / month
Who it's for	Sole traders and businesses new to accounting software	Growing businesses that are hiring more people	Established businesses that require inventory management services	Established businesses that deal with multiple currencies

Note: New customers can trial any plan for 30 days, then 50% off for the first 3 months.

MYOB Business is also available as a Payroll Only plan. Available for $10 a month, this plan is for businesses that need payroll for up to 4 employees.

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What features does MYOB Business offer?

The features available with your MYOB Business online accounting software vary depending on the plan you select. Plans are designed to suit small businesses of different sizes and with varying accounting needs.

However, all plans allow you to perform key accounting and bookkeeping tasks such as keeping track of your income and expenses, creating invoices, accepting payments and managing your tax obligations.

Reporting and analyticsTax and basic management reportsAdvanced reports and analyticsAdvanced reports and analyticsAdvanced reports and analytics

	MYOB Business Lite	MYOB Business Pro	MYOB Business AccountRight Plus	MYOB Business AccountRight Premier
Track income and expenses	✓	✓	✓	✓
Create and send invoices and quotes	✓	✓	✓	✓
Accept payments	✓	✓	✓	✓
Store receipts	✓	✓	✓	✓
Track GST and lodge BAS	✓	✓	✓	✓
Connect bank accounts	2 accounts	Unlimited	Unlimited	Unlimited
Inventory management	No	No	✓	✓
Bill by time	No	No	✓	✓
Manage multiple currencies	No	No	No	✓
Payroll	Optional $1.50 per person per month for up to 2 employees	Optional $1.50 per person per month for unlimited employees	Included pay unlimited employees	Included pay unlimited employees
Automated super contributions	✓	✓	✓	✓
Remote employee onboarding	✓	✓	✓	✓
Timesheets	Manual	Automated	Automated	Automated
Automated rosters	No	✓	✓	✓

If you just want a standalone payroll plan, MYOB Business Payroll Only offers the following features:

• Pay up to 4 employees
• Single touch payroll
• Automated super contributions
• Automated timesheets
• Automated rostering
• The ability to send reports directly to the ATO

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How does MYOB Business compare to the competition?

To give you a better idea of how MYOB Business stacks up against alternative options, let's take a closer look at how the Pro plan compares to 2 similarly-priced offerings from QuickBooks and Xero.

	MYOB Business Pro	QuickBooks Plus	Xero Standard
Key features	Track income and expenses Single touch payroll Pay unlimited employees Payroll $1.50 per person per month Unlimited invoices and quotes Accept payments Scan and store receipts Connect unlimited bank accounts Automated super contributions, timesheets and rosters	Track income and expenses Unlimited invoices and quotes Snap and store receipts Track GST and e-lodge BAS Send custom invoices and quotes Manage budgets Multi-currency Track inventory Single touch payroll Payroll from $5 per employee per month	Track income and expenses Send invoices and quotes Enter bills Single touch payroll Payroll for 2 people included Reconcile bank transactions Optional expense claim feature from $5 per month Capture bills and receipts Short-term cash flow and business snapshot
Price per month	$55 per month	$55 per month	$65 per month
Support	Support via phone and live chat 7 days	Support via phone Monday to Friday, and via chat in product	24/7 online support

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How to contact MYOB?

MYOB's support team can be reached via live chat online or phone 7 days a week.

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

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Is MYOB Business right for me?

MYOB is an established name in the world of online accounting software, and its plans are well worth checking out for Australian small and medium business owners.

However, you'll need to research the cost and features of the available MYOB Business plans to determine if they're a good fit for your business. Be sure to compare MYOB Business with other leading online accounting options – happily, many providers offer free trials so you can try before you buy.

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Frequently asked questions

• Is there a minimum contract length?

  No. There is no minimum subscription period and no lock-in contract. You simply pay for the plan you want on a monthly basis.

• Can I use MYOB Business on my phone?

  Yes, you can manage your MYOB Business account via your mobile device. MYOB also offers 2 mobile apps: MYOB Capture for scanning and uploading bills and receipts, and MYOB Invoice for creating and sending invoices.

• Does MYOB Business offer a free trial?

  Yes, all MYOB Business software plans are available as a free trial for the first 30 days.