17th July, 2020
What’s landed, rolling out or on the horizon for MYOB’s products? Here’s what you need to know to make sure you’re getting the most value for your practice and your clients.
With our first quarterly product Showcase appearing in recent weeks, now’s the ideal time to reveal some of the ongoing changes and enhancements to key MYOB product features.
Read on to find out how we’re delivering a new people management feature, online invoice payments and more between now and the end of September.
A new people management feature is now available across the entire new Essentials suite Australia and New Zealand.
With the new ‘Jobs’ feature, users can quickly and easily link income and expenses to a job, project, location or to a business cost center.
From your perspective, as an advisor, you can easily track and report on the profitability of your client’s jobs, projects, or specific areas of their business.
Benefits of the MYOB Essentials Jobs feature:
This feature is now available across the entire new Essentials range, payroll-only included. And, this is just the beginning. Next up, our developers will be working on introducing budgeting for Jobs, reimbursables and setting up jobs in an organisational hierarchy.
MYOB also has a new process to support BankLink to Essentials (Australia) and Essentials Connected Ledger (NZ).
Migrating customers will have a dedicated concierge consultant whose job it is to assist throughout the entire migration process.
All preparation and data validation shifts will be performed by the support team at MYOB as well, which means you have more time to get on with your important work.
There are also new features in the upgraded MYOB Essentials Connected Ledger developed to meet the needs of BankLink clients and improve the efficiency of transaction processing and reporting. The bulk background migration work has been completed in June and pilot migrations will commence in July.
An MYOB staff member will be in touch once we’re ready to start a staggered migration for your clients, which will help minimise any chance of interruption.
We know that cash flow is an issue for many small businesses, that’s why we previously launched the online invoice payments feature, which gives SMEs the ability to have their invoices paid via BPAY, AMEX, VISA and Mastercard.
We’ve continued to refine the online invoice payments service, and have added an additional report: the Payment Transactions Report.
The online invoice payments report gives you a detailed view of invoices that are being processed or have been settled, making it easier to reconcile payments
This is currently in an early adopter program in Australia only and is being made available in new MYOB Essentials soon.
To try the product out, you can make a request in product or speak with our payments support team on 1300 783 674 or firstname.lastname@example.org.
The Paying Expenses feature1 allows users to pay business expenses using a debit or credit card from their AccountRight software for added flexibility, control and convenience.
This feature is currently available for Australian sole traders only. We will be extending this feature to include other companies with an AccountRight Live account throughout this quarter (June-September).
Benefits of Paying Expenses in AccountRight Live:
All payments must be authorised through the MYOB Secure app with mandatory two-factor authentication to help protect and secure your financial data.
This feature is available across every bank to allow flexibility. All that’s needed is a Mastercard debit card, or a Visa or Mastercard credit card, to pay business expenses from AccountRight.
Find out everything you need to know about Paying Expenses in AccountRight Live here. Fees and charges apply.
MYOB AU Tax is packed full of features to help your practice become more productive. It reduces the time you spend preparing tax returns, freeing you up to offer more value-adding tax consulting services to your clients.
MYOB’s advanced online tax solution supports all major ATO forms and activity statements, plus it automatically shares data between worksheets, forms and other returns to get you lodging faster.
Here are just some of the many reasons why accounting professionals choose MYOB software to lodge millions of tax forms every year:
If you missed our recent Tax eSeminars, the recordings are available to purchase until 31 July.
If you’d like to get the most out of your MYOB solutions, join us at our upcoming free webinars.
The sessions featured here are planned to take place over the next few months.
1. Some of the information on this page relates to MYOB Payment Services, which is issued by MYOB Australia Pty Ltd (ABN 13 086 760 198) (AFSL 241059) (MYOB Australia). All information provided here is general information and does not take into account your objectives, financial situation or needs. You should consider your needs prior to acting on any advice or making any financial decisions. Please read the MYOB Payment Services Product Disclosure Statement and the Financial Services Guide before deciding to acquire or use this product or service. Fees and charges apply. All applications are subject to MYOB Australia’s eligibility and assessment criteria.
MYOB Rewards points can only be earned on eligible transactions. Some exclusions apply. The earn rate for MYOB Rewards points may change over time. MYOB Rewards is currently only available as part of an ‘early adopter program’ (EAP) and is not publicly available. The features, risks and benefits of MYOB Rewards may change at public launch. As part of the EAP, you will have the ability to earn reward points, however, they cannot be redeemed until late 2020. The MYOB Rewards store at rewards.myob.com will not initially be accessible as part of the EAP. For more information about MYOB Rewards, please read the MYOB Rewards Terms and Conditions.