If you haven't decided which MYOB product best suits the inventory needs of your business, this information might help.
In general:
MYOB Business is ideal for retail businesses with simple inventory needs, such as those that only sell from stock on hand and don't backorder to fulfil sales. Some inventory features are not available – see What inventory features are available in MYOB Business.
is suitable for businesses with more complex inventory needs, such as those that build items from other items, store items at multiple locations, have tiered pricing levels or need to be able to add items to inventory without receiving a supplier bill.
When deciding what inventory product to use, consider the examples and feature comparison below.
Example
Bookstops is a small business that sells ornamental bookends. They're small, but they're ambitious and are expanding their product range. They want an easy automated method of keeping tabs on how many sets of bookends they have in stock. Bookstops don't build the bookends in house but order them in. They're only getting a small volume of orders and only sell from what they have on hand. They want to know how the new product lines are performing and when to order more stock. So the inventory features in MYOB Business are ideal for their needs.
Example
HamperWorld is a growing business selling Christmas hampers. They sell a large range of hampers at different price points. Each hamper can contain up to a dozen or more separate products. These items come from a number of suppliers and HamperWorld package them up. They need inventory software with advanced packaging/auto building features, as well as the ability to easily backorder items to complete a hamper – especially around Christmas when orders get hectic. The inventory features available in MYOB Business are not suited to their needs. They might be better off considering the full inventory features in AccountRight.
MYOB inventory features compared
Creating items | MYOB Business | AccountRight |
|---|---|---|
Create inventory items | Yes | Yes |
Edit items | Yes | Yes |
Import items | Yes | Yes |
Export items | Yes | Yes |
Delete or deactivate items | Yes | Yes |
Add item reordering info | Yes | Yes |
Build inventory items from other items |
| Yes |
List a bill of materials needed to build an item |
| Yes |
Store items in multiple locations |
| Yes |
Buying and selling items | MYOB Business | AccountRight |
Sell items from stock on hand | Yes | Yes |
Order stock from suppliers | Yes | Yes |
Create sales orders for customers | Yes | Yes |
Easily reorder stock | Yes | Yes |
Backorder items to fulfil sales |
| Yes |
Add items into inventory without a supplier bill |
| Yes |
Track item quantities | MYOB Business | AccountRight |
Automatically update item quantities when buying and selling items | Yes | Yes |
Adjust the on hand quantity of items | Yes | Yes |
Inventory reporting | MYOB Business | AccountRight |
report on stock on hand | Yes | Yes |
analyse item sales and margins | Yes | Yes |
report on what needs to be reordered | Yes | Yes |
pricing list report |
| Yes |
item transaction report |
| Yes |
item build report |
| Yes |
End of period | MYOB Business | AccountRight |
Make EOFY inventory adjustments | Yes | Yes |
Reconcile inventory accounts and values | Yes | Yes |
Do a stocktake |
| Yes |