Premium Inventory for MYOB Business launches


10th October, 2023

Premium Inventory: Inventory management for MYOB Business

Trading physical goods may be considered one of the oldest and simplest methods of doing business, but as any merchant, retailer or distributor will tell you there’s a lot more to it than meets the eye.

Especially in today’s fast-paced market, where customers have higher standards than ever before.

MYOB Business brings together a comprehensive set of online solutions, sporting an easy-to-navigate interface with features split out into pricing tiers.

The result is a scalable platform enabling businesses to track key financials, manage taxes, raise invoices and more.

Also, with the addition of Premium Inventory, MYOB Business offers customers another powerful solution that also simplifies their relationship with technology.

What is Premium Inventory for MYOB Business?

Firstly, Premium Inventory for MYOB Business adds premium features for MYOB Business customers who want to track, buy and sell physical goods.

Designed for small businesses, Premium Inventory for MYOB Business will allow you to create and manage products, storing relevant details against each item, such as its stock keeping unit (SKU) number, description, price and cost details, and more.

What are the benefits of using inventory management in MYOB Business?

Having inventory tightly integrated with your business management platform gives you greater data visibility.


Take back control with real-time oversight of your stock movements and sales. With better inventory management, you can avoid stockouts, overordering or other related wastage.

Smart pricing

You’re better able to forecast for seasonal events, sales periods and adjust pricing and special offers accordingly.

Sales orders

You can now register what you’ve promised to your customers and improve your inventory tracking with our new Sales Orders feature.

Easily view what’s committed to customers and what needs to be fulfilled.

Maximise efficiency by centralising all your orders and customer service information under one system.

Wherever you are, you’ll always be up to date with our inventory management feature.

Tax processing

Also, make end of year tax processing faster and simpler with integrated inventory management. Quickly assess, audit and complete key tasks like stocktake faster than ever before.

What features does Premium Inventory include?

Once you’ve added Premium Inventory to your MYOB Business platform, you’ll gain access to the following features, right out of the gate:

  • Track inventoried items. See stock on hand quantity, average cost, total value and more
  • Buy or sell inventory items. Use preset details on invoices and orders to streamline sales and purchases
  • Adjust inventory items. Features to assist you in catering for shrinkage, reevaluation of inventory and so on
  • Inventory reporting. This includes automating procurement with stock reorders, analysis of item sales including revenue, profit and margin on each stock item, plus access stock on hand reports to gain clarity on where your stock is

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FAQs on Premium Inventory for MYOB Business

How much does it cost to add Premium Inventory to MYOB Business?

To begin with, you can add Premium Inventory to MYOB Business for free, giving you the full feature set for use on up to 10 items.

Furthermore, you can unlock limitless items in Premium Inventory with a fee of just $22 per month.

Does MYOB Business integrate inventory with other software vendors for shipping or POS?

Presently, we are working to integrate stock-on-hand with third-party integrators for eCommerce and POS providers.

Also, we will also be looking to add further integrations to support goods-based trade, including third-party logistics providers and shipping carriers.

Use the MYOB App Marketplace to discover more ways to extend or customise your business management platform.

Who is Premium Inventory designed for?

Generally, this feature set is designed for business that buy and sell physical products, such as retailers and wholesalers.

Get started with Premium Inventory for MYOB Business

Additionally, if you’re an existing MYOB Business customer looking to better integrate inventory into your business management platform, or you’re considering MYOB for your retail management needs, inventory management for MYOB Business could be the solution for you.

Australian business operators and inventory managers can discover more about Premium Inventory for MYOB Business here. For the New Zealand version, click here.