MYOB AccountRight & MYOB Essentials are MYOB’s cloud based bookkeeping products. AccountRight is a blend of desktop application (which you download and install) along with cloud storage of your MYOB data file. MYOB Essentials, on the other hand, is akin to Xero, being a full online browser-based program.
These MYOB versions are designed to be user friendly and able to be scaled up for larger business. Users pay a monthly fee that is based on company size, type and a few other variables. The MYOB AccountRight is very similar to their original desktop offering, with limited changes in the functionality and scope of the software, except for the cloud storage of data files and its ability to integrate directly with MYOB Pay Direct, where they provide an internal merchant facility for your business (and also try to sell you small business loans).
See below an introduction video from MYOB regarding its AccountRight product:
MYOB Essentials is useful in the fact it is completely cloud-based and able to be accessed on any browser compatible device without the need to download and install a software program. It also has a handy smartphone app that allows users to manage their accounts from a mobile phone.
It even allows users to manage contacts and send invoices from a smartphone and as they do this, the data is updated on all devices. For instance, if you make changes to a customer’s file on your mobile device, those changes will be reflected on the office computers. This is a time-saving feature that gives users the ability to work while on the road, at home or on vacation.
On the downside, MYOB Essentials is far more limited in its scalability and useability than its cloud based cousin Xero or its desktop version of AccountRight. Generally due to these limitations it has not gained a great deal of popularity amongst our small business clients.
By adding MYOB PayDirect, users have the ability to quickly take credit card payments as an inbuilt merchant facility within the MYOB program.
What MYOB Can Do For Your Business
AccountRight is a powerful software package able to handle small to medium clients with ease, but requiring a desktop installation and frequent downloads of update software, removing the true benefits of a cloud based environment
MYOB Essentials is a pure cloud based environment but has more limited functionality than its more mature AccountRight alternative
MYOB is a tried and trusted bookkeeping system with a large core client base and good functionality inbuilt within its program
Payroll, inventory management, merchant facilities and now even small business loans are available through its interface
Reduce manual work as bank feeds allow transactions to automatically feed into MYOB
Inbuilt payroll allows you to manage your employee reporting requirements directly from the MYOB Package
Job costing allows you to track profit per project or per business activity and generate independent reports on different aspects of the business
BAS templates and customisable reports make it easy to stay on top of your ATO reporting obligations
Our team of accredited Adelaide MYOB bookkeepers will work with you to find the add on products that are right for your business and help you set up your MYOB to enjoy maximum automation of transactions.
Unlike other bookkeeping firms all our work is completed locally by staff you can meet face to face as opposed to shipping all the work overseas and just employing a low level sales staff in Australia.
Interested In MYOB AccountRight or Essentials?
Do you need help automating your existing Reckon One? Or looking at your software options? Contact us today for a no obligation chat and a coffee to discuss how we can assist your business.