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Why you should be considering switching to MYOB
Making the switch from your current accounting software to MYOB is easier than you think.
If you're ready to move from Xero, QuickBooks or Reckon to MYOB you're in for some good news. The process is simple and we’re here to help!
This guide explains just what you need to know and do to migrate your data to MYOB fast and with no stress.
And the best part? MYOB covers the cost of migrating two full years of your financial data (the current and previous financial years’ worth of transactions). Fees apply for the conversion of additional transactions.
What makes MYOB different?
You don't need to buy features you won't use for years.
MYOB lets you begin with the basics and add functionality like inventory management and payroll when your business is ready.
No forced upgrades. No paying for bells and whistles you don't need yet.
Everything works together
Your invoicing talks to your inventory. Your payroll connects to your tax reporting. Your expenses flow automatically into your books.
When everything's connected, you spend less time on admin and more time growing your business.
Built for Australian business
MYOB understands the Australian tax system, superannuation requirements, and Single Touch Payroll obligations.
It's not a foreign system trying to adapt to our rules.
Key features that make the switch worthwhile
Once you're using MYOB, you'll discover features that make your daily business operations smoother and more efficient.
Professional invoicing made simple
Create, customise, and send professional invoices from any device.
Set up recurring invoices for regular customers and enable automated payment reminders to nudge late payers and improve cash flow.
MYOB’s system includes invoice tracking and eInvoicing for ease of use, too.
Payroll that works
Calculate taxes, leave entitlements, and superannuation contributions accurately.
MYOB handles Single Touch Payroll reporting, and you can complete your entire pay run in just four steps.
You can also scan receipts with your phone or email bills directly to your MYOB account for quicker and easier expense management.
Inventory control that scales
Whether you're tracking a few products or thousands, MYOB's inventory management grows with your business.
Link your stock to your sales processes and make under-buying or over-ordering a thing of the past.
Why now is the right time
If you're feeling limited by your current accounting software, or if you're paying for features you don't use while missing ones you need, it might be time to make the switch.
MYOB's flexible approach means you can start with exactly what you need today and add functionality as your business evolves.
No more paying for software that's either too basic or too complicated.
How to migrate your data to MYOB, using a migration partner
Which accounting software can you switch from?
MYOB makes it easy to migrate fast from the following accounting platforms:
Xero
Intuit QuickBooks Online
Reckon
If you're currently using one of these platforms, you'll find the migration process is streamlined and proven, with complete data migration available.
If you use another accounting platform or method currently, or you don’t want to use a migration partner, you can still join MYOB but you will need to manage this process yourself.
Important note: If you're considering Solo by MYOB, data migration isn't currently available. Solo is designed as a fresh start for very small businesses, and there's no upgrade path from Solo to other MYOB products.
What data moves with you?
When you switch to MYOB, you're not starting from scratch. Here's what comes across with your migration, via our secure third-party provider, MMC Convert:
Your financial foundation
Your complete chart of accounts transfers over, maintaining your existing account structure and numbering system.
Customer and supplier details
Every contact in your system moves across, including names, email addresses, postal addresses, phone numbers, and websites.
Outstanding transactions
All your open sales invoices, credit notes, purchase invoices, and bills transfer over. You won't lose track of money owed or owing.
Product information
Your entire item product master list migrates, including product names, descriptions, and linked accounts for sales and purchases.
Account balances
Your conversion date trial balance ensures your new setup starts with accurate opening balances.
Single currency files
If you operate in Australian dollars, your entire file structure transfers seamlessly. The migration covers everything you need to pick up where you left off.
Other data
Wondering about any other data you’d want to transfer? You can view the full list of what can be transferred to MYOB on MMC Convert’s website.
Preparing for your data migration
A successful migration starts with good preparation. Taking these steps in your current system will ensure nothing gets lost in translation.
1. Stop all data entry
Before beginning the migration process, make sure everyone on your team stops entering new transactions in your old system. This prevents additional costs and ensures data accuracy.
2. Clean up your accounts
Reconcile every bank account and credit card. Address any unreconciled transactions and fix duplicate entries now rather than dealing with them later.
3. Resolve outstanding items
Clear up any bills or invoices that won't be paid. This keeps your new MYOB file clean and accurate from day one.
4. Verify your contacts
Check that your customer and supplier details are current and accurate. Complete any missing information or fix outdated contact details.
5. Sort your inventory
If you track stock, review your inventory levels, and adjust any negative stock quantities. This ensures your stock reports are accurate from the start.
6. Create a backup
Always create a backup of your current account before beginning the migration. This gives you a safety net if anything goes wrong (which it shouldn’t!).
Critical reminder: Don't enter any real data into your new MYOB account before the migration is complete. The conversion process will overwrite anything you've entered.
The step-by-step switching process
Moving to MYOB happens in three simple stages. The entire process typically takes less than 10 business days.
Step 1: Set up your MYOB subscription
You'll need an active MYOB subscription before your data can be migrated.
Select and purchase the MYOB plan that fits your current needs. If you are eligible for an offer, make sure you purchase your subscription through that link to take advantage of the special price.
Step 2: Submit your migration request
Once your MYOB account is active, submit your request through MMC Convert, MYOB's secure third-party migration specialist.
Make sure your current accounting files are completely up-to-date before submitting. Any transactions entered after your migration date will need to be manually added to MYOB.
Step 3: Grant access and wait
MMC Convert will request access to both your old accounting system and your new MYOB account.
Once you grant permission, they handle the technical heavy lifting. You'll receive progress updates throughout the process.
Most migrations are complete within 10 business days, but often sooner.
Who handles your data migration?
Your data migration is done by MMC Convert, a specialist third-party provider that has handled hundreds of MYOB migrations.
MMC Convert has years of experience moving businesses from Xero, QuickBooks, and Reckon to MYOB.
They understand the nuances of each platform and how to ensure data integrity during the transfer.
Their secure systems protect your financial information throughout the migration process.
They're not just technically competent – they're also trusted with some of Australia and New Zealand’s most sensitive business data, with clients in a range of industries, from professional services to financial and accounting firms.
What happens after your data moves?
Your migration is complete, but there are a few important steps to ensure everything runs smoothly going forward:
Check your reports with your accountant
Speak with your bookkeeper, accountant, or other advisor before/when running your first reports.
The migration process moves payroll data as General Journals rather than through MYOB's payroll system, which can affect some report calculations.
It’s possible your data link won’t pick up the figures from the payroll history, so you might need some support from your advisor for your first lot of reports.
Verify your GST reporting
Have your tax agent or financial advisor review your first GST return and PAYG/PAYE data after the conversion.
This ensures all your tax obligations are met correctly from day one.
Set up your ongoing processes
Once your accountant has signed off on your reports, you can start using MYOB's full functionality within your new accounting.
Set up your recurring invoices, automated payment reminders, and other time-saving features.
Getting up to speed with MYOB
Moving to new software can feel overwhelming, but MYOB provides comprehensive support to get you confident quickly.
MYOB Academy training
Access free online training through MYOB Academy. These courses cover everything from basic navigation to advanced features, all designed for real-world business scenarios.
Help when you need it
MYOB's support team understands that every business is different. Whether you need help with a specific feature or want advice on best practices, support is available.
Community knowledge
Join the MYOB Community forum to connect with other business owners who've made the switch. Real experiences from real businesses can be invaluable.
What switching to MYOB costs (hint: it’s mostly free!)
The financial commitment to switching is surprisingly manageable, especially when you consider what's included.
Free data migration
MYOB covers the cost of migrating your current and previous financial years' data. That's two full years of transactions, contacts, and account information at no extra cost.
Additional data transfer costs
If you need more than two years of historical data migrated, fees apply for additional transactions.
Note: Most businesses find two years sufficient for ongoing operations and reporting requirements.
Making the decision to switch
Switching accounting software is a big decision, but it doesn't have to be a difficult one.
MYOB has made the process as smooth as possible while ensuring you don't lose any critical business data.
The combination of free data migration, comprehensive training, and software that grows with your business makes MYOB an attractive option for all types of businesses ready to upgrade their accounting and financial management.
The bottom line
Over one million businesses trust MYOB with their finances.
The migration process is proven, the software is award-winning, and the support is comprehensive.
When you're ready to move beyond the limitations of your current accounting software, MYOB is ready to welcome you with open arms and a smooth transition process.
Your business deserves accounting software that works as hard as you do.
With MYOB, that's exactly what you'll get.