MYOB Accounting Software Review
The world of business accounting software can be a difficult one to navigate. But, by design, the software must be simple to use, offer great value, and provide a range of features that give business owners more time to focus on growth, rather than admin.
If you’re looking for guidance as to which accounting software is the right match for your business, read on to find out more about MYOB in this Canstar Blue guide.
What is MYOB?
Founded in 1991, MYOB (pronounced my-ob) is a tax and accounting software company that provides a range of products for both small and big businesses through browser-based, cloud-based and hard-installed software.
What features does MYOB offer?
All MYOB business accounting subscriptions includes the following functions:
- Track income and expenses
- Create and send professional invoices and quotes
- Accept payments
- Scan and store receipts
- Track GST and lodge reports with IR
- Connect bank accounts
- Payroll reporting
- Tax reporting
- Profit and loss
- Cash flow reporting
- Payroll (employee numbers vary by plan)
- Order/supplier management
Additional features on the more expensive plans include:
- More in-depth reports and insights
- Unlimited payroll
- Warehouse
- Multi-currency features
- Time-billing
MYOB offers the MYOB Invoice app for both iOS and Android systems, making it easy to manage and perform accounting functions remotely. The app covers invoice tracking, contacts adding, in-app invoice creation and payment processing.
Buy 1 Month Get 6 Months Free with MYOB
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For sole traders and small business with up to 2 employees
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from $30/m + GST | Go to site |
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For growing businesses with multiple employees wanting more advanced reporting
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from $50/m + GST | Go to site |
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For larger businesses that want a powerful desktop and web app
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from $80/m + GST | Go to site |
Offer: Buy 1 month get 6 months free base subscription for MYOB Business Lite, Pro, AccountRight Plus or Premier. Offer ends 30 June 2025 unless varied by MYOB. Premium Features excluded, inc. premium inventory, payroll and online invoice payments. Other exclusions and full T&Cs apply.
What plans does MYOB offer?
MYOB offers four business plans, plus a Payroll Only subscription:
MYOB Business Lite
For sole traders and small business with up to two employees:
- Send unlimited invoices
- Send unlimited quotes
- Add payroll for up to 2 employees (extra $1.50/m + GST per employee)
Cost: $30/m + GST. Current offer: $5/m + GST for first six months.
MYOB Business Pro
For larger businesses with multiple employees that require more advanced reporting. Offers all features of Lite plan, plus:
- Create advanced reports and budgets
- Connect unlimited bank accounts
Cost: $50/m + GST. Current offer: $8/m + GST for first six months.
MYOB Business AccountRight Plus
For larger businesses that want a powerful desktop and web app. Offers all features of Pro plan, plus:
- Add unlimited inventory items
- Bill projects and clients by time
- Free 30-day trial
Cost: $80/m + GST. Current offer: $40/m + GST for first three months.
MYOB Business AccountRight Premier
For more complex businesses that need multi-currency support. Offers all features of Pro plan, plus:
- Work in multiple currencies
- Free 30 day trial
Cost: $100/m + GST. Current offer: $50/m + GST for first three months.
MYOB Payroll
Ideal for small businesses looking to keep on top of their payroll systems. Features include:
- Automate pay, KiwiSaver, tax and annual leave
- Submit online reports to IR
- Automated tax compliance
- Manage timesheets and rosters online
- Automated KiwiSaver contributions
- Remotely onboard employees
Cost: $22/m + GST base subscription + $1.50/m + GST per employee.
Should I use MYOB accounting software?
MYOB is a trusted name in accounting software, one that has over one million subscribers across New Zealand and Australia. Its wide range of services means MYOB is an ideal option for business of all sizes. Plus its current subscriptions offer delivers outstanding value.
However, ultimately, it’s always recommended to explore all options, for while it may all be about the bottom line, you may find a particular accounting software fits better with your current business set-up or schedule than others, or helps with a certain niche area of your business.
About the editor of this page
This report was reviewed by Canstar’s Editor, Bruce Pitchers. Bruce has three decades’ experience as a journalist and has worked for major media companies in the UK and Australasia, including ACP, Bauer Media Group, Fairfax, Pacific Magazines, News Corp and TVNZ. Prior to Canstar, he worked as a freelancer, including for The Australian Financial Review, the NZ Financial Markets Authority, and for real estate companies on both sides of the Tasman.