9.3
Spot Score
MYOB Review: Is It The Right Accounting Software For Your Team?
Best for SMB teams · Mid-market · Enterprise
Free Trial Available
GDPROverview
Pricing
Features
Buyer feedback
Alternatives
Media
Security & Compliance
Support
FAQ
Blogs
SpotSaaS Analysis for MYOB
MYOB is an accounting software solution frequently used by accountants, financial managers, and business owners in small to medium-sized enterprises. A rating of 4.3 out of 5 from 253 reviews suggests it is broadly validated, indicating a generally positive reception among its user base.
Users highlight MYOB's excellent customer service, praising the knowledgeable and patient staff who provide step-by-step assistance. The user-friendly interface simplifies tasks such as bookkeeping, invoicing, and report generation. However, a significant watch-out is the subpar customer support experience, with frequent mentions of long wait times and unresolved issues.
Quick facts about MYOB
What is MYOB?
Introducing MYOB, the perfect solution for local businesses. Our software, in collaboration with the ATO, keeps you constantly updated with your invoices, ensuring timely delivery and easy tracking. With MYOB, expenses and bills can be managed and staff can be paid within just a few clicks. Say goodbye to tax season stress with automatic updates and easy reporting. With the convenience of working with your accountant or bookkeeper right in the software, you can stay ahead of the game no matter where you are. Plus, customers can pay directly from your invoices using their credit card. Not only that, managing clients and suppliers has never been easier. MYOB - simplifying business operations with efficiency.
Pricing
Free Trial available
Best For
Suited for solo users, small teams, SMBs, and enterprise
Security & Compliance
GDPRSSO & MFA supported
Data residency:🇦🇺
Platform
Web + mobile app (iOS & Android)
Installed - Windows
Installed - Mac
MYOB Software Demo
MYOB was reviewed internally using user feedback, in-house testing, and market research to assess its performance, reliability, and user experience. Learn how we review products and our evaluation process.
Who should consider MYOB
- Use cases
- Retail businesses, Professional services, Fintech and consulting firms
- Team types
- Accountants, Financial managers
- Company size
- 1-50 employees, 51-100 employees
- Workflow style
- Simple and streamlined
- Setup complexity
- Medium
Why teams choose MYOB
Comprehensive accounting features including payroll, expense tracking, and tax compliance
User-friendly interface that simplifies bookkeeping and reporting tasks
Automated processes and bank feed integrations reducing manual effort
Is MYOB right for you?
Best for small to mid-sized businesses needing comprehensive, automated accounting.
Choose MYOB if
- You require strong integration with local tax authorities for compliance.
- You want automated bank feeds and payroll to reduce manual bookkeeping.
- Your team includes accountants or bookkeepers who benefit from collaboration features.
Consider alternatives if
- You need a modern, highly intuitive user interface and design.
- You have a tight budget sensitive to subscription and add-on costs.
What buyers should know before shortlisting MYOB
MYOB is a longstanding and robust accounting software solution, offering tools to streamline financial management for businesses of various sizes. Users appreciate its comprehensive feature set, including automated accounting, bank feeds, payroll management, and detailed reporting capabilities.
The platform's ability to handle tasks like tax compliance, invoicing, and timekeeping is often highlighted as a major benefit. Several users also commend its user-friendly interface, especially after familiarizing themselves with the software, and note how these features significantly help with bookkeeping and decision-making.
Customer support has received mixed reviews, with many praising individual representatives for their expertise and patience, though others noted frustrations with long wait times and occasional lack of consistency. Additionally, while MYOB's ease of use and functionality make it a good choice for many, some users mention that the software can appear outdated compared to newer cloud-based competitors, and its pricing model may not be ideal for small businesses.
Despite a few hiccups, MYOB remains a reliable, feature-packed solution suitable for businesses ready to invest time in mastering its potential.
MYOB pros and cons
- MYOB pros
Comprehensive accounting features including payroll, expense tracking, and tax compliance
User-friendly interface that simplifies bookkeeping and reporting tasks
Automated processes and bank feed integrations reducing manual effort
- MYOB cons
Customer support issues including long wait times and unresolved queries
Frequent bugs and system glitches impacting usability
Ready to try it?
Get started with MYOB
Start your free trial — no credit card required.
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What is the pricing of MYOB?
MYOB reviews and ratings
Buyer sentiment
Overall positive sentiment highlighting MYOB’s comprehensive features and ease of use, tempered by concerns over customer support and software reliability.
What buyers like
- Ease of use
- Comprehensive accounting features
- Automation and bank feed integration
Common complaints
- Customer support delays and issues
- Software bugs and outdated interface
What users are saying
MC
M Charlton
06/07/24
extremely helprul
Shanika called today and was extremely helpful with a number of points I was trying to sort through.
S
Sherrie
05/28/24
I had the best experience talking with…
I had the best experience talking with Shanika today. Very knowledgeable and able to solve my questions.
CJ
Christopher Jones
05/20/24
Simone was a terrific help re…
Simone was a terrific help re explanation of AccountRight and current package. Knowledgeable, articulate and a good listener plus very patient with my ...
Read more
DM
Denisa Manikkam
04/30/24
The service offered great
The service offered great! Specially Shanika Jayawickrama was extremely helpful and took us through the set up and process patiently! We are very ...
Read more
A
Ante
04/09/24
I received an excellent help from…
I received an excellent help from customer service. We booked a date and time that suits me and the agent has been very patient with me as I navigate ...
Read more
TA
test account
02/19/24
MYOB
The product was not that good to start off with but usable, after the "upgrade" it is all shambles. Just found out from my clients that my GST number ...
Read more
What are the features of MYOB?
The overall accounts payable (AP) balance of a corporation at a given moment in time will appear in the current liabilities column of its ba…
The term "accounts receivable" refers to a company's unpaid bills or the money owed to it by customers. Accounts that a company is entitled…
A bank reconciliation statement reconciles an entity's bank account with its financial records. The statement lists all deposits, withdrawal…
An invoice and a bill are documents that convey the same information about the amount owing for the sale of goods or services. Still, a comp…
MYOB offers specialized tools tailored for CPA firms that enable streamlined client management and reporting capabilities. This feature prov…
MYOB’s Cash Management feature offers a comprehensive view of cash
The Collections feature assists businesses in managing outstanding invoices effectively. It provides tools for tracking overdue payments and…
The Expense Tracking feature allows organizations to monitor employee expenses efficiently. Employees can easily log their expenses through…
MYOB’s Fixed Asset Management feature helps businesses track their physical assets throughout their lifecycle. It includes functionalities f…
The General Ledger feature serves as the backbone of MYOB’s accounting system by consolidating all financial transactions into one central r…
MYOB’s Multi-Currency feature enables businesses to conduct transactions in multiple currencies seamlessly. It automatically updates exchang…
The Payroll feature simplifies the complex task of managing employee payments. It automates calculations for wages, taxes, and deductions wh…
With MYOB’s Project Accounting feature, businesses can monitor project-related expenses and revenues in real-time. This tool helps organizat…
The Purchasing feature streamlines procurement processes within your organization. It allows users to create purchase orders, track inventor…
MYOB’s Revenue Recognition feature ensures that your business adheres to accounting standards by automating the process of recognizing reven…
The Spend Management feature provides businesses with comprehensive visibility into their expenditures. By tracking and categorizing spendin…
MYOB’s Tax Management feature simplifies the complexities of tax compliance for businesses. It automatically calculates the correct tax amou…
MYOB security and data handling
Key compliance certifications and security features for IT and security teams evaluating MYOB.
Certifications
Security features
Developer & data
Alternatives to MYOB
Why buyers keep looking beyond MYOB
Users may seek alternatives to MYOB if they require more advanced features, such as comprehensive reporting tools or integrations with other software, which may not be fully supported by MYOB’s offerings.
Businesses experiencing rapid growth might look for scalable solutions that can adapt to their evolving needs, as MYOB might not provide the necessary flexibility for larger operations.
Some users may find MYOB's user interface challenging or less intuitive, prompting them to explore alternatives that offer a more user-friendly experience and better customer support.
Cost considerations often drive users to evaluate alternatives; they may find other platforms that provide similar functionalities at a lower price point or with more favorable subscription models.
Businesses in specific industries might require tailored accounting solutions, leading them to seek alternatives that cater specifically to their unique regulatory and operational needs.
MYOB Support Options
Frequently Asked Questions About MYOB
Common questions buyers ask before choosing MYOB.
MYOB is a Accounting Software. MYOB offers Tax Management, Spend Management, Revenue Recognition, Purchasing, Project Accounting and many more functionalities.
MYOB is a strong fit if: You require strong integration with local tax authorities for compliance.; You want automated bank feeds and payroll to reduce manual bookkeeping.. Consider alternatives if: You need a modern, highly intuitive user interface and design.; You have a tight budget sensitive to subscription and add-on costs..
Buyers commonly note the following limitations of MYOB: Customer support issues including long wait times and unresolved queries; Frequent bugs and system glitches impacting usability; Outdated interface design compared to modern competitors.
Some top alternatives to MYOB includes Xero, Zoho Books, Quickbooks, Freshbooks and Wave.
MYOB offers Free Trial, Subscription pricing models
The starting price is not disclosed by MYOB. You can visit MYOB pricing page to get the latest pricing.
Ready to try it?
Get started with MYOB
Start your free trial — no credit card required.
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Disclaimer: This research has been collated from a variety of authoritative sources. We welcome your feedback at [email protected].