MYOB Essentials Overview

What is MYOB Essentials?

MYOB Essentials is an online accounting software that has a range of features designed to help businesses across New Zealand– whether they’re a start-up or a large business. Easily and quickly take care of GST & PAYE reports, invoices, reporting, expenses, and payroll (including Payday Filing). Designed to save time, increase productivity, and stay up to date with compliance obligations.

MYOB Essentials is online making it easy to work from anywhere. Being online means business owners can invite accountants, bookkeepers, or their business partners to work together on their business books, including managing cash flow and IRD compliance requirements.

Track and reconcile expenses automatically by simply linking a bank account. Compare and improve business performance by creating clear, targeted budgets, and track profit and loss in real time. Pay employees easily and with confidence and give employees access to payslips and timesheets online.

Essentials is automatically updated every time there’s a tax change to keep businesses in step with the IRD.

MYOB Essentials Overview

Pricing

Starting from
$25.00/month

Pricing options

Free Trial
Subscription
Value for money

Essentials Payroll: $30.00 / month
Accounting Starter: $25.00 / month
Accounting: $40.00 / month
Accounting + Payroll: $60.00 / month

A 30-day free trial is available.


MYOB Essentials Features

Devices
Business size
S M L
Markets
Australia
Supported Languages
English

Media

Collaborate on goods and services tax return in the cloud
Easy online accounting software built for small business
Create dozens of useful reports
Online invoicing and quotes made easy on any device.
Payroll that grows with you
Easily meet your Single Touch Payroll (STP) obligations
Automatically calculate tax and superannuation
Automatically track and manage bills and expenses. Use the MYOB Capture app to take photos of receipts and send them straight to your software. Plus, you can upload bills (drag and drop) or email them straight to your software
Create reports for year-to-date (YTD), payment summaries, turnover, bad debt, liabilities, deductions, accruals and more. Drill down with custom date ranges, tweak and customise against your budgets
MYOB Essentials video MYOB Essentials screenshot: Collaborate on goods and services tax return in the cloud MYOB Essentials screenshot: Easy online accounting software built for small business MYOB Essentials screenshot: Create dozens of useful reports MYOB Essentials screenshot: Online invoicing and quotes made easy on any device. MYOB Essentials screenshot: Payroll that grows with you
Easily meet your Single Touch Payroll (STP) obligations
Automatically calculate tax and superannuation MYOB Essentials screenshot: Automatically track and manage bills and expenses. Use the MYOB Capture app to take photos of receipts and send them straight to your software. Plus, you can upload bills (drag and drop) or email them straight to your software MYOB Essentials screenshot: Create reports for year-to-date (YTD), payment summaries, turnover, bad debt, liabilities, deductions, accruals and more. Drill down with custom date ranges, tweak and customise against your budgets

MYOB Essentials Reviews

MYOB Essentials Reviews

Overall rating
3.8
/
5
Excellent
30

Very good
24

Average
15

Poor
2

Terrible
8

Value for Money
3.3
Features
3.6
Ease of Use
3.7
Customer Support
3.3
68% recommended this app
Katrina R.

Solid product for small business

Has been around for a long time. Tried and tested and is a great product. Starting to price a little higher but still competitive - especially if you have employees.


Rani R.

Great software. Does everything we need it to do and more.

Great accounting, and always updating with new features. Our accountant could just log in and do our end of years immediately.


Gavin P.

MYOB in the Clouds

Windows based product with very easy to use menus. It has all the bells and whistles of modern accounting software. I particularly liked the Payroll and Budgeting. Its a product that I believe needs to be tested by accountants. I think some aspects would be tricky for bookkeepers whereas other aspects accountants pull their hair out and the lack of reporting options and some silly rules that make it harder to use. I don't get the impression that they listen to your feedback. Sadly the organisation has some arrogance. I noted this particularly when being trained in the product. The organisation would benefit greatly from listening to feedback and improving its report options. For example. No comparative Balance Sheet. No reports which can be produced relating to staff hours. The journal report is woeful, sadly you have to use journal more than you would want. No Fixed Asset Register. On the other hand I love the budget reports, very easy to manipulate. The graphs which come with the budget are useless. The ease to enter pay roll data is awesome. I love the bank feeds and many more aspects of this package. I think if they combine the best aspects of Account right and Essentials to target medium sized entities, MYOB would be hard to beat.


Chris P.

good value in terms of the price

The software is good for a small entity but once you grow and need more detail it becomes a handbrake on information.


Nicole G.

One of the top software for bookkeeping


Katrina R.
Industry: Accounting
Company size: 11-50 Employees

Solid product for small business

Used Daily for 2+ years
Reviewed on 7/11/2018
Review Source: Capterra

Has been around for a long time. Tried and tested and is a great product. Starting to price a little higher but still competitive - especially if you have employees.

Pros

Easy to use and well laid out for the end user. Is great for small operations without complex needs.

Cons

Whilst bank rules are very handy - the auto reconciling of transactions can cause problems if rule set up incorrectly. Would be great if there was an option to make bulk transaction changes.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

Rani R.
Industry: Automotive
Company size: 2-10 Employees

Great software. Does everything we need it to do and more.

Used Daily for 2+ years
Reviewed on 13/03/2018
Review Source: Capterra

Great accounting, and always updating with new features. Our accountant could just log in and do our end of years immediately.

Pros

-Highly customisable for invoicing and parts inventories.
-Has great reports. We found if you knew what you wanted to keep an eye on in the business, then you could design a report for it. Not all accounting programs or workshop software can do that so easily.
-once it was set up for our workshop, it worked amazingly. Very intuitive

Cons

-We were new to this software, and it took a long time to set it up, (6 mnths), specifically for how we needed it to work. (automotive workshop), You almost needed to be a trained accountant i felt.
-Support used to take at least 1 day if not 2 to get back to you.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 8.0/10

Gavin P.
Industry: Hospital & Health Care
Company size: 11-50 Employees

MYOB in the Clouds

Used Daily for 6-12 months
Reviewed on 23/11/2016
Review Source: Capterra

Windows based product with very easy to use menus. It has all the bells and whistles of modern accounting software. I particularly liked the Payroll and Budgeting. Its a product that I believe needs to be tested by accountants. I think some aspects would be tricky for bookkeepers whereas other aspects accountants pull their hair out and the lack of reporting options and some silly rules that make it harder to use. I don't get the impression that they listen to your feedback. Sadly the organisation has some arrogance. I noted this particularly when being trained in the product. The organisation would benefit greatly from listening to feedback and improving its report options. For example. No comparative Balance Sheet. No reports which can be produced relating to staff hours. The journal report is woeful, sadly you have to use journal more than you would want. No Fixed Asset Register. On the other hand I love the budget reports, very easy to manipulate. The graphs which come with the budget are useless. The ease to enter pay roll data is awesome. I love the bank feeds and many more aspects of this package. I think if they combine the best aspects of Account right and Essentials to target medium sized entities, MYOB would be hard to beat.

Pros

Payroll and Budgeting and very easy to use. Nice features with Invoice design also.

Cons

The Journals report is awful, no Fixed Asset register. No reports on Payroll hours worked.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 6.0/10

Chris P.
Industry: Retail
Company size: 11-50 Employees

good value in terms of the price

Used Daily for 2+ years
Reviewed on 12/09/2017
Review Source: SoftwareAdvice

The software is good for a small entity but once you grow and need more detail it becomes a handbrake on information.

Pros

easy to use ,A very easy to use and follow accounting software, the flow of information is easy to follow

Cons

I have been using the MYOB Essentials purely for payroll of a bout 10 employees. I find the customer service frustrating as it seems impossible to actually speak to anyone.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 6.0/10

Nicole G.
Industry: Staffing & Recruiting
Company size: 201-500 Employees

One of the top software for bookkeeping

Used Daily for 2+ years
Reviewed on 14/11/2018
Review Source: GetApp

Pros

I enjoy using MYOB simply because it does everything you need for a small business - sometimes needs more explanation with accounting though for new people.

Cons

glitches with POS machines is really the only thing I ever came across with this program, so not alot from a small business perspective.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 8.0/10

User recommendation
7.2/10
Based on 79 user ratings
Compare user recommendation rating with alternatives
Compare with alternatives

MYOB Essentials Pricing

MYOB Essentials Pricing

Starting from
$25.00/month
Free Trial
Subscription
Value for money

Essentials Payroll: $30.00 / month
Accounting Starter: $25.00 / month
Accounting: $40.00 / month
Accounting + Payroll: $60.00 / month

A 30-day free trial is available.

Essentials Payroll: $30.00 / month
Accounting Starter: $25.00 / month
Accounting: $40.00 / month
Accounting + Payroll: $60.00 / month

A 30-day free trial is available.

Value for Money
3.3/5
Based on 79 user ratings
Compare value for money rating with alternatives
Compare with alternatives

MYOB Essentials Features

MYOB Essentials Features

API
Accounting Integration
Accounting Management
Activity Dashboard
Audit Trail
Automatic Notifications
Billing & Invoicing
Compliance Management
Customisable Reporting
Data Import/Export
Electronic Payments
Expense Tracking
Financial Analysis
Invoice Management
Invoice Processing
Multi-Currency
Real Time Data
Reporting & Statistics
Third Party Integration
Workflow Management
Features
3.6/5
Based on 79 user ratings
Compare features rating with alternatives
Compare with alternatives

Categories

Additional information for MYOB Essentials

Additional information for MYOB Essentials

Key features of MYOB Essentials

  • API
  • Accept payment from invoices (PayDirect Online)
  • Accept timesheets via online or mobile
  • Accounting integration
  • Accounting management
  • Accounting, GST and BAS
  • Activity dashboard
  • Application integration
  • Audit trail
  • Automatic leave calculation
  • Automatic updates
  • Bank feeds
  • Bank reconciliation
  • Banking & credit card transaction import
  • Billing & invoicing
  • Bookkeeping
  • Budgeting
  • Cash flow statement
  • Cash management
  • Collaboration tools
  • Compensation calculation
  • Compliance management
  • Contact management
  • Coordinate payroll
  • Create and track jobs
  • Customizable reporting
  • Expense claims
  • General ledger
  • Goal setting
  • Income statements
  • Inventory management
  • Inventory tracking
  • Invoice management
  • Invoice processing
  • Leave tracking
  • Live reporting
  • LiveChat support
  • MYOB BankFeeds
  • Manage customers and suppliers
  • Manage inventory items list
  • Mobile friendly
  • Mobile integration
  • Mobile transaction synchronization
  • Multi-currency
  • Multi-user access
  • Multiple accounts
  • Multiple user accounts
  • No lock in contracts
  • Offline access
  • Online support
  • Pay employees & track leave
  • Payment tracking
  • Payroll management
  • Profit / loss statement
  • Profitability analysis
  • Project time tracking
  • Project tracking
  • Purchase order management
  • Quote management
  • Real time cash flow management
  • Real time data
  • Real-time timesheets access for employees
  • Records management
  • Recurring billing
  • Sales tax management
  • Secure login
  • Sick leave tracking
  • Smartphone app
  • Tax updates
  • Time & expense tracking
  • Time billing
  • Timesheets
  • Track and pay expenses
  • Track inventory levels
  • Track profit and loss on jobs

Benefits

• Expense tracking - automatically import your banking and credit card transactions securely and directly, always under your control.

• Updated automatically every time there’s a tax change, like Single Touch Payroll - making you compliant without lifting a finger

• Easily invite bookkeepers, accountants, or business partners into your account to collaborate from anywhere.

• Compare and improve business performance by creating clear, targeted budgets, and track profit and loss in real time

MYOB Essentials FAQs

MYOB Essentials FAQs

Below are some frequently asked questions for MYOB Essentials.

Q. What type of pricing plans does MYOB Essentials offer?

MYOB Essentials offers the following pricing plans:

Starting from: $25.00/month

Pricing model: Subscription

Free Trial: Available

Essentials Payroll: $30.00 / month Accounting Starter: $25.00 / month Accounting: $40.00 / month Accounting + Payroll: $60.00 / month A 30-day free trial is available.

Q. What are the main features of MYOB Essentials?

MYOB Essentials offers the following features:

  • API
  • Accept payment from invoices (PayDirect Online)
  • Accept timesheets via online or mobile
  • Accounting integration
  • Accounting management
  • Accounting, GST and BAS
  • Activity dashboard
  • Application integration
  • Audit trail
  • Automatic leave calculation
  • Automatic updates
  • Bank feeds
  • Bank reconciliation
  • Banking & credit card transaction import
  • Billing & invoicing
  • Bookkeeping
  • Budgeting
  • Cash flow statement
  • Cash management
  • Collaboration tools
  • Compensation calculation
  • Compliance management
  • Contact management
  • Coordinate payroll
  • Create and track jobs
  • Customizable reporting
  • Expense claims
  • General ledger
  • Goal setting
  • Income statements
  • Inventory management
  • Inventory tracking
  • Invoice management
  • Invoice processing
  • Leave tracking
  • Live reporting
  • LiveChat support
  • MYOB BankFeeds
  • Manage customers and suppliers
  • Manage inventory items list
  • Mobile friendly
  • Mobile integration
  • Mobile transaction synchronization
  • Multi-currency
  • Multi-user access
  • Multiple accounts
  • Multiple user accounts
  • No lock in contracts
  • Offline access
  • Online support
  • Pay employees & track leave
  • Payment tracking
  • Payroll management
  • Profit / loss statement
  • Profitability analysis
  • Project time tracking
  • Project tracking
  • Purchase order management
  • Quote management
  • Real time cash flow management
  • Real time data
  • Real-time timesheets access for employees
  • Records management
  • Recurring billing
  • Sales tax management
  • Secure login
  • Sick leave tracking
  • Smartphone app
  • Tax updates
  • Time & expense tracking
  • Time billing
  • Timesheets
  • Track and pay expenses
  • Track inventory levels
  • Track profit and loss on jobs

Q. Who are the typical users of MYOB Essentials?

MYOB Essentials has the following typical customers:

Small Business, Large Enterprises, Non Profit, Freelancers, Mid Size Business

Q. What languages does MYOB Essentials support?

MYOB Essentials supports the following languages:

English

Q. What type of pricing plans does MYOB Essentials offer?

MYOB Essentials has the following pricing plans:

Subscription

Q. Does MYOB Essentials support mobile devices?

MYOB Essentials supports the following devices:

Android, iPhone, iPad

Q. What other apps does MYOB Essentials integrate with?

MYOB Essentials integrates with the following applications:

Debtor Daddy, Deputy, Ento, Idronic, Onsight, Pepperi, ServiceM8, Timely, Verizon Connect Work, WorkflowMax

Q. What level of support does MYOB Essentials offer?

MYOB Essentials offers the following support options:

Forum, Knowledge Base, Phone Support, Video Tutorials, Online Support, FAQs