What Is MYOB Used For: Features, Reviews & Alternatives
Accounting software popular in Australia & NZ.
Editorially updated Oct 5, 2025
MYOB
myob.com
The overview
What MYOB is for
1Core Capabilitie
- General Ledger transaction entry
- Bank feed auto-reconciliation
- Sales invoice creation panel
- Supplier bill payment scheduler
- GST/BAS report generation
2Specialized Workflow
- Payroll processing engine
- Inventory stock level tracking
- Project cost allocation interface
- Multi-currency transaction recording
- Online invoice payment integration
Who it helps
Useful ways to use MYOB
A practical path
Register & Configure Company File
Navigate to the website, select a subscription plan, complete the online registration form, then follow the guided setup wizard to define your chart of accounts, business details, and tax setting
External signals
Reviews & reputation
Aggregated review score
Users value its comprehensive feature set for local compliance, particularly payroll and BAS reporting. The interface can be perceived as less intuitive than newer competitors, but reliability and local support are frequently cited positives.
Quick answers
Frequently asked questions
1What are the key differences between MYOB's online plans (e.g., Lite, Standard, Plus)?⌄
The primary distinctions lie in feature access, such as payroll processing capacity (number of employees), inventory management, multi-currency support, and job costing. Lite plans typically cover basic invoicing and bank reconciliation, while Plus plans offer comprehensive features for growing businesses with more complex needs.
2How does MYOB handle Australian GST and BAS reporting requirements?⌄
MYOB automates GST calculations on transactions and provides dedicated reports for Business Activity Statement (BAS) preparation. Users can generate the BAS report directly from the platform, which aggregates all relevant GST, PAYG withholding, and other tax data, simplifying lodgement with the ATO.
3Can I migrate my existing financial data from another accounting system or spreadsheet into MYOB?⌄
Yes, MYOB supports data migration. You can typically import your chart of accounts, customer and supplier lists, and opening balances via CSV files. For more complex migrations, particularly from other accounting software, MYOB often provides migration tools or recommends certified partners to assist.
4Is MYOB accessible on mobile devices, and are there specific apps?⌄
MYOB offers dedicated mobile apps for both iOS and Android, allowing users to manage invoices, record expenses, and view key financial reports on the go. The web interface is also responsive, providing a functional experience across various browser-enabled devices.
5What security measures are in place to protect my financial data stored on MYOB's platform?⌄
MYOB employs industry-standard security protocols, including 256-bit SSL encryption for data transmission, secure data centers with physical access controls, and regular security audits. User access is protected by strong password policies and multi-factor authentication options.
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