Explore the Essential Features, Benefits & Challenges of MYOB

Published In: 13 December 2017

SpryBit

Explore the Essential Features, Benefits & Challenges of MYOB

infography

MYOB accounting software has many features. Some of them are shown in below infographic.

As per the infographic, MYOB supports Web, Android app & iPhone app platforms.

Pricing starts at A$ 25.00/month. You can start the FREE monthly trial without giving your credit card details. MYOB also supports integrations with FreshBooks, MailChimp & Salesforce Sales Cloud.

The user base of MYOB is very strong. It covers many industries. 57% of the users are Small Business, 36% are Medium Business & 7% are Enterprise Business.

Though most of the users are from Australia, MYOB also has the user base in New Zealand, UAE, and Philippines etc.

MYOB Benefits

1. Anywhere, Anytime Access

As MYOB is a cloud accounting solutions, you can access it anywhere anytime. If you are using MYOB essential you can use it from a web browser. If you are MYOB AccountRight user you can install MYOB AccountRight on your Desktop or Laptop and can sync data using the internet.

2. Fast input

MYOB automates many manual tasks so that you do not have to enter all the data manually and thus minimizing errors.

3.  Cost Reduction

As MYOB is a cloud solution, it reduces costs of maintenance, updates & backups. You also do not need to worry about technical issues.

4. Good Accuracy

MYOB automates many manual processes reducing the chances of human error.

MYOB Challenges

Though MYOB has many benefits it also has some drawbacks. One major drawback is the Manual Data Entry. Yes, you need to enter some of your accounting Data Manually in MYOB and manual work means human error and this error can cause damage to your business. But there is also a solution for this problem.

The solution for the problem is MYOB integration with your business. With the integration you do not need to do any manual work, thus removing the chances of the human error.

The second drawback of the MYOB is that it is not novice friendly. You need to have trained team to operate this software. And again the solution to this problem is an integration of MYOB.

Comment below if you have experienced any human error with the MYOB.

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