New MYOB Essentials transforms online accounting for small businesses

31 Mar 2014

Includes streamlined user interface & API for add-ons integration

New Zealand’s leading business management solutions provider today launched MYOB Essentials Accounting, making online accounting even easier for those who are new to accounting and starting in business.

Announced at its recent partner roadshow with well over 7,000 business advisors registered, Essentials Accounting is an advanced version of MYOB LiveAccounts. It includes an enhanced feature set, updated user interface and a new API to enable add-ons as well as integration with other MYOB products.

General Manager, Business Division, James Scollay says, “Our vision is to make cloud accounting easy for every business: easy for those just starting out, easy for those running on desktop software that want to move to the cloud, and easy for our partners who are increasingly requiring cloud offerings to evolve their businesses.

“MYOB LiveAccounts was a key driver of our cloud accounting solutions, which now account for over half of our new client registrations. With MYOB Essentials, we’re delivering a fresh, innovative and intuitive client experience. Not only do we have a great looking product – it’s feature-rich and even easier to use.

“The UI refresh includes new styling elements, making it even easier for clients - new and old - to manage their accounts. Early client feedback has been great particularly around quick access to key information, easy navigation, modern styling and the clean visual design.

“In addition, unlike competitors who limit many features, we offer much better value by providing unlimited invoices, unlimited employees and unlimited users from less than dollar a day.

“We’re confident new and existing clients and partners will clearly see MYOB Essentials Accounting as the best value cloud product for those new to accounting or start-up businesses.”

API now available for MYOB Essentials suite

The MYOB Essentials API enables add-on partners to integrate to with and extend the MYOB Essentials product. This enables business owners and developer partners to save time and increase efficiencies through seamless data integration with Essentials.

The proportion of MYOB’s cloud accounting clients using these add-ons has grown 38% this year thanks to the AccountRight API, and continues to accelerate.

The MYOB API program has grown from just over 65 developers to more than 800 and the number of add-ons has risen to 70 across 20 categories in 12 months. The first API developer partners to commence integrating to the MYOB Essentials API include Shoeboxed, ServiceM8 and SmartJobs.

The total developer program now numbers 1200 members, with the remainder working on the ODBC interface for AccountRight classic.

Further information

MYOB Essentials Accounting will be the same price as LiveAccounts – $23 plus GST per month in New Zealand and $29 inc GST per month in Australia, with unlimited invoices, unlimited employees and unlimited users.

In Q3 2014, MYOB will de-couple payroll from MYOB Essentials Accounting to cater for solo operators wanting a more straightforward online accounting solution. A more advanced version of payroll with an improved feature set will be available as one of a range of optional in-product features for clients to select and include with the Accounting module. The price for MYOB Essentials Accounting with Payroll will be $34 plus GST per month in New Zealand and $40 inc GST per month in Australia.

In the coming weeks, MYOB Essentials Accounting will include integration with MYOB Accountants Office and MYOB Accountants Enterprise practice suites, to enable year-end accounts to be produced directly from the MYOB Essentials ledger. Integration with MYOB PayDirect will follow later in the year to enable businesses to take payments on-the-go, send receipts, raise invoices, and manage debtors and contacts.

The MYOB Essentials range comprises two options: Accounting and Cashbook. Essentials Cashbook is an online solution available exclusively through MYOB partners that enables accountants to allocate a client’s financial transactions for accounting purposes while managing the level of client involvement. Clients can work simultaneously with their accountant or take a hands-off approach, providing a choice for clients that want to make their business life even easier.

For MYOB product information, research results, business tips, discussions, client service and more visit the MYOB website, or its blog, LinkedIn, Twitter, Facebook, Instagram and YouTube sites.

-ENDS-

For further information or immediate comment, please contact:

Sarah Putt

MYOB

Tel: (09) 925 3515

Mob: 029 777 0256

Email: sarah.putt@myob.com

Gerard Blank

The Agency Communications Limited

Tel: 03 341 5841

Mob: 0275 243 629

Email: gerard@theagencynz.co.nz

About MYOB New Zealand

Established in 1991, MYOB is New Zealand's largest business management solutions provider. It makes life easier for approx. 1.2 million businesses across New Zealand and Australia, by simplifying accounting, payroll, tax, practice management, CRM, websites, job costing, inventory and more. MYOB provides ongoing support via many client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly in cloud computing solutions, and now spends more than NZ$35 million annually on research and development. In 2013, MYOB expanded its offerings with the acquisition of accounting solutions provider BankLink. For more information, visit myob.co.nz.