Frequently Asked Questions
What is MYOB AccountRight?
MYOB AccountRight is a next generation service which offers greater flexibility and choice on how you use and access AccountRight. A MYOB AccountRight subscription gives you access in the cloud, on your desktop or both. This means you can use MYOB AccountRight even if you don't have an internet connection.
How does it work?
Simply select the features that meet your business needs and then download your software from my.MYOB. All subscriptions include one set of business accounts and unlimited downloads of your chosen AccountRight software.
This gives you the freedom to access your accounts on any internet connected PC anywhere, any time. You can purchase additional online company files with 30% off the total subscription for the same client.
What if I don't want to store my accounts in the cloud, all the time?
The great thing about MYOB AccountRight is you have the choice. After all, it is your financial data. With MYOB AccountRight you can enjoy the convenience of knowing the most current version of your data is saved securely in the cloud, and the peace of mind that you can make a local backup and work on your PC whenever you like.
What if I don't want to use Live Services?
MYOB AccountRight lets you choose the features you want to use. That means you don't need to store your accounting data in the cloud if you want to import and match your bank transactions, enjoy multi-user access, benefit from Extended Support, or access the latest MYOB software updates when they are released. You can access these features from your local desktop computer.
What if I still want to use my current version of AccountRight?
The new version of AccountRight has been completely rebuilt from the ground up so you can take advantage of MYOB AccountRight. So although the software looks similar to older versions, it does represent a significant change to your user experience and the upgrade process.
If you wish to remain using AccountRight version 19, a MYOB AccountRight subscription will continue to provide you with Extended Support, software and compliance updates (if applicable) throughout 2013.
Will I still have access to technical support for all my company files?
A MYOB AccountRight subscription provides Extended Support and software updates for all company files associated with that serial number. The Live Services will apply to one online company file only.
To access bank feeds, have multi user access or save accounting data in the cloud for more than one company file, you will require an additional MYOB AccountRight subscription.
What pricing options do I have to subscribe to MYOB AccountRight?
MYOB AccountRight has flexible payment options. You can set up a monthly or annual subscription^. All subscriptions are recurring and have a minimum 12 month term.
Can I still buy a full licence of MYOB AccountRight?
Yes. You can still purchase a software license for the desktop version of MYOB AccountRight through an MYOB Partner or retail stores. However, if you prefer to have continuous access to all the latest software and payroll updates, along with Extended Support, you need a MYOB AccountRight subscription.
How do I pay for my subscriptions?
You can subscribe to MYOB AccountRight using direct debit from your credit card or bank account for a monthly or annual subscription^. Payment will continue to be deducted unless you notify MYOB you wish to cancel.
Why is MYOB moving to a subscription pricing model?
MYOB understands that some clients still prefer to pay once a year, whereas others find it better for cash flow to pay by the month. MYOB's monthly and annual subscription options provide convenience and peace of mind for your business.
Is there a minimum period for an MYOB AccountRight subscription?
The minimum period for a MYOB AccountRight subscription is 12 months. This is also the minimum period for any additional online company files. If a MYOB AccountRight subscription is cancelled and then restarted, another minimum period of 12 months begins.
What happens if I cancel my MYOB AccountRight subscription?
Cancelling your MYOB AccountRight subscription will also cancel your online company file and render it as read only. In order for you to write to the file, you'll need to purchase a full MYOB AccountRight licence desktop software or resubscribe to MYOB AccountRight.
If you have a MYOB AccountRight full licence desktop software and cancel a MYOB AccountRight subscription, the company file will no longer be available online. You'll still be able to use the file offline with AccountRight on your desktop.
What happens to my online company files if I cancel my MYOB AccountRight subscription?
If you cancel your MYOB AccountRight subscription or any additional online company files, the files will be available to download to your desktop for 30 days. The file will then become read only on your desktop. After 30 days, the online company file will be deleted.
What happens if I cancel an additional company file?
If you cancel an additional online company file, and were receiving the multi-file discount, the price for the remaining MYOB AccountRight subscription reverts to 100%.
Terms & conditions
^ The minimum subscription period for a MYOB AccountRight subscription is 12 months. If a MYOB AccountRight subscription is cancelled and then restarted, another minimum subscription period of 12 months begins. Payment will continue to be deducted monthly or annually unless notified by the client that they wish to cancel.
How many company files come with a MYOB AccountRight subscription?
A MYOB AccountRight subscription entitles you to one online company file, so you can save your accounts in the cloud. A MYOB AccountRight Premier subscription provides two online company files. Company files are also known as company data files, business data files or 'set of books'. These files contain your accounting data.
What's the difference between an online company file and a desktop company file?
With a MYOB AccountRight subscription you can save your data in the cloud or on the desktop and work anywhere, anytime. With AccountRight desktop only software (full licence), your company file can only be accessed from your local computer.
What happens if I currently have more than one company file?
A MYOB AccountRight Premier subscription entitles you to save two company files online. As part of your MYOB AccountRight subscription, you need to nominate an active company file to save online. If you have multiple company files, you can choose which company files you would like to store online.
If you require more than two company files to be stored online, you can purchase additional MYOB AccountRight subscriptions. A multiple company file discount applies for additional company files purchased for the same business and MYOB AccountRight product.
Can I purchase additional company files?
Yes. This is particularly useful if you manage a number of different businesses or manage a trust. There's no limit to the number of company files you can have.
You can subscribe to additional MYOB AccountRight online files exactly the same way as you subscribed to your first MYOB AccountRight file. For MYOB AccountRight desktop software, you can purchase additional standard company files.
Each additional online company file will receive a 30% discount from Recommended Retail Price. To qualify for a multiple company file discount, the additional company files must be purchased for the same business and MYOB AccountRight product.
Are there any discounts for purchasing multiple company files?
Each additional online company file will receive a 30% discount from the Recommended Retail Price.
Each additional standard company file will receive a 90% discount from the Recommended Retail Price. To qualify for a multiple company file discount, the additional company files must be purchased for the same business and MYOB AccountRight product.
Can I purchase an additional online company file for a different MYOB AccountRight product?
Yes. For example, if you subscribe to MYOB AccountRight Plus and need another company file to run a trust, you can subscribe to MYOB AccountRight Basics for an additional monthly subscription. The multiple company file discount does not apply for additional online company files for a different product.
Can I upgrade to another MYOB AccountRight product?
Yes, you can upgrade to another MYOB AccountRight product+. Just ask MYOB to increase your monthly subscription amount to the relevant monthly MYOB AccountRight subscription. Your upgrade will start from your next payment date and will be for a minimum of 12 months. Please contact MYOB for more details if you are on an annual subscription or own AccountRight desktop software.
Can I downgrade to another MYOB AccountRight product?
Yes, you can downgrade to another MYOB AccountRight product+. Just ask MYOB to decrease your monthly subscription amount to the relevant monthly MYOB AccountRight subscription. Your downgrade will start from your next payment date and will be for a minimum of 12 months. Please contact MYOB for more details if you are on an annual subscription or own AccountRight desktop software.
Terms & conditions
+Conditions apply for upgrading and downgrading products, contact MYOB for more details.
What is accounting in the cloud?
Accounting software with a 'cloud' component enables accounting data to be stored securely off-site on servers managed by an external provider. This means you can access up-to-date files remotely from anywhere, in real time.
What are the benefits of cloud accounting?
Working in the cloud gives you the flexibility to work from anywhere, anytime. Your files are 'live' so are always kept current and up to date. Cloud technology allows you to store and share your files safely online rather than using less secure methods like email or storage devices. With a MYOB AccountRight subscription, shared files can be worked on at the same time by unlimited authorised users.
What's the difference between browser-based and cloud-based software?
Browser-based software runs on internet browsers such as Internet Explorer® or Google Chrome™ and requires an internet connection to work. Good examples of this are Gmail™, Facebook and MYOB Essentials.
Cloud-based software is accessible online but your files or library is also made available on your local computer. With a MYOB AccountRight subscription, your data is always available – either on your local computer or in the cloud.
A MYOB AccountRight subscription gives you the best of cloud-based and desktop-based computing. You have the security and control of running your accounting software on your local computers with no need to rely on your internet connection. You also have the flexibility to store your files:
- In the cloud where users can access the most recent files – the most accessible and safe way to store them
- On your computer's hard drive or local server.
What security measures are in cloud computing?
A MYOB AccountRight subscription uses a secure gateway which only grants access to pre-authorised users. You can store and share your files safely online rather than using less secure methods like email or storage devices. MYOB has worked closely with Microsoft® to design an online architecture solution which meets industry best practice standards.
Do MYOB's cloud servers have enough storage capacity?
The Windows Azure infrastructure is designed to dynamically expand as demand increases. This means it has almost infinite capacity to store company data files so you never have to worry about storage space.
Who owns the data?
Ownership of the data always remains with the person who subscribed to MYOB AccountRight.
Is my data at risk if it's stored offshore and something happens to that country?
Your data is backed up every day, and in the unlikely event of an incident your files will be replicated and saved. This system backs up files locally as well as onto servers in another location. Our storage and restoration infrastructure was designed to best practice standards in conjunction with Microsoft.
Where will my data be stored?
Your company files are stored offshore on servers in Microsoft's secure data hosting centres.
Can overseas governments access my data?
MYOB is very serious about protecting the security and privacy of your personal and financial data. Your data is subject to the privacy and freedom of information legislation of the country in which the files are hosted. However, it is extremely unlikely that any government would request access to your information.
How do I control access to my data?
Files hosted on MYOB AccountRight are managed and accessed through my.MYOB. Only authorised users and administrators can access your information. You have full control over who you give access to and can add or remove authorisation for users at any time. You can choose to nominate MYOB AccountRight administrators to help manage the online company files, as well as manage the access for co-workers, advisors or accountants.
What does anywhere, anytime access really mean?
MYOB AccountRight uses a cloud solution, giving you access to your business records wherever and whenever you're working. This means there's no need for expensive remote access servers or duplicating files.You can download* and install your chosen MYOB AccountRight software as often as you need, so you can work between PCs and still access your accounts and files.
Plus, MYOB AccountRight is the only cloud accounting service that allows you to continue working without the internet. Authorised users can download a local copy of the accounts to their PC and continue working offline. This locks the live version of data until the local copy is checked back in.
*MYOB AccountRight software download is 150MB. Installation and download times will vary depending on your internet connection and hardware.
Can you tell me more about working offline?
MYOB AccountRight is the only cloud accounting service that allows you to work both online and offline. The check-out, check-in functionality allows an administrator to check out a company file to their PC. MYOB AccountRight locks the online version from being edited by any other user so the checked out file remains the most current. Checking in the file will upload the changes to the cloud. Only one person can work on a checked-out file at a time.
Can I work from home and in the office without having to move my accounting data?
An MYOB AccountRight subscription gives you flexible cloud accounting. With anywhere, anytime access you and your team can move beyond the desktop network and work together on the accounts online from the office, on the road and anywhere in between without having to save data to a USB and risk multiple versions. You may choose to check-out your company file and work offline on your PC if you’re in an area with limited internet connectivity. When you check in the file online, changes to your data will be synced to the cloud.
Who has access to my data and under what circumstances?
Access and permissions to your MYOB AccountRight data is managed through my.MYOB. Each user of MYOB AccountRight must be authorised to access the online file.
We've developed an administration hierarchy whereby the AccountRight owner has full control over who can access their data. The AccountRight owner can nominate Administrators who manage the accounts. Administrators can monitor daily use and access of other users.
What if I lose my internet connection?
MYOB AccountRight allows you to view a read-only copy of your Company File so you can continue working without an internet connection.
You may choose to check-out your company file and work offline on your PC if you’re in an area with limited internet connectivity. When you check in the file online, changes to your data will be synced to the cloud.
How does anywhere access apply to my accountant or bookkeeper?
MYOB AccountRight allows you to invite your staff, accountant or bookkeeper to access your accounts in the cloud and collaborate on your data, wherever they are. An audit trail gives you a record of which authorised user has accessed your data and what they've done in that time.
What happens to anywhere access if I cancel my MYOB AccountRight subscription?
You can only access and maintain your accounts online if you have a subscription to MYOB AccountRight. If you do decide to cancel your subscription, your data becomes read only. You will need to purchase an MYOB AccountRight software licence for your desktop or resubscribe to MYOB AccountRight to make any future changes to your data.
What if the PC I'm using doesn't have AccountRight software installed?
A MYOB AccountRight subscription gives you unlimited free downloads of your chosen AccountRight. That means if the PC you're working on doesn't currently have the software installed, you can simply download and install it through my.MYOB and access your accounts anywhere, anytime.
Do I need a MYOB AccountRight subscription to access bank feeds?
Yes. A MYOB AccountRight subscription gives you access to bank feeds. This includes unlimited bank accounts and transactions, in accordance with our fair use policy.
Do I need to save my file in the cloud?
Bank feeds can work whether you save your file in the cloud or work on your desktop. You need to be connected to the internet to import and match your bank transactions.
Do I need to provide my online banking username and password?
To set up bank feeds, you need to complete a MYOB BankLink authority form including your name and account details to give MYOB BankLink permission to access your bank account transactions on your behalf.
MYOB BankLink will never ask for your online banking username or password. You must always keep your PIN/Password and personal details confidential.
Who is MYOB BankLink?
MYOB BankLink is a highly successful organisation. The BankLink service is used by nearly 5,000 accounting practices, and more than 320,000 small businesses throughout Australia and New Zealand. Each month, it securely delivers in excess of 13 million customer transactions from more than 100 banks, credit unions, brokers and fund managers. Not only that, MYOB BankLink’s data accuracy specialists review data using processes they have refined over 25 years – providing highly accurate bank feeds with additional checks over the banks’ raw feeds.
How secure are bank feeds?
Bank feeds uses your written authority for MYOB BankLink to collect your bank transactions. MYOB BankLink ensures your data is transmitted safely and securely using systems audited regularly to comply with industry standards (PCI). MYOB BankLink do not have access to your online banking and you retain full control over your bank feeds.
How often are bank feeds updated in MYOB AccountRight?
Once you've set up bank feeds, both debit and credit card transactions can be imported as soon as MYOB BankLink is notified by your bank. This can differ depending on your financial institution.
How long does it take to set up bank feeds?
Setting up bank feeds takes two to three days for major banks and up to two weeks for credit unions and building societies. Simply login to your my.MYOB account, complete the online fields, print and sign the BankLink authority form and post it to MYOB. Depending on your bank, you may have the option to complete the application completely online. You can track the progress of your application on my.MYOB.
How do I manage my bank feeds?
You can manage your bank feeds and add new accounts at any time using the Manage Bank Feeds option in AccountRight or through my.MYOB.
How do I view and match my bank transactions?
AccountRight includes a Match Transactions window that displays a list of your bank transactions so you can quickly match them and reduce your data entry time.
How do I get my bank transactions?
Once your bank account is linked, bank feeds drops your banking transactions straight into AccountRight. AccountRight will keep a record of all your bank feeds data if you need to reference where you've allocated previous transactions.
How do I match bank feeds to my transactions?
Bank feeds uses matching rules to identify possible matches between banking data and the transactions recorded in AccountRight. The matching process is transparent and you have the ability to approve or change any matches.
What if I make a mistake when matching my transactions?
You can easily change transaction details prior to completing the bank reconciliation. If you've done the bank reconciliation, the transaction matching error can be cancelled and re-entered.
What if I don't have a transaction entered for the transaction from my bank?
Manually entering bank transactions from your paper statements can be time consuming. Bank feeds allows you to quickly add a transaction from your banking data, so you don't need to enter the data yourself.
Can I set rules for regular transactions?
Bank feeds allows you to apply auto-coding rules to the transactions you receive from your bank. This means AccountRight will search your bank feeds data and match transactions against the rules you set.
How does transaction matching work?
Bank feeds matches your banking transactions using a number of different variables including the date, transaction amount, name and code. If a transaction can't be matched to these variables, you'll have the option to find or add a new entry.
Can bank transactions be split across different bank accounts?
Bank feeds lets you define the bank accounts you apply your banking transactions to, by fixed amount or percentage. All you have to do is highlight the accounts and the transactions you'd like to split.
Do I still need to complete bank reconciliation?
Once your bank transactions have been matched to your data, you will need to complete bank reconciliation. This gives you the opportunity to review your entries and retain control over your accounting data.
Is there a limit to the number of bank accounts I can set up?
No. You have can set up an unlimited number of bank accounts and import transactions. Usage is based on agreeing to our fair use policy and bank accounts must be business bank accounts. If you have a bank account that's registered under another business name, you'll require an additional MYOB AccountRight subscription to obtain a separate online company file for that business.
Why do I need multi-user file sharing and collaboration?
Businesses often require multiple users simultaneously accessing data for many reasons. As your business expands you may need more than one person to access the accounts or you may have team members in different locations needing to access the same data.
What are the benefits of online collaboration?
A company file hosted with MYOB AccountRight subscription can be accessed by authorised users simultaneously from anywhere, anytime. Data is synced and kept up-to-date for everyone using the file, eliminating the need for costly and less secure methods like remote access or copied files on storage devices. With your data accessible online, there's no risk of overwriting the wrong file or uncertainty about the latest version.
How can multi-user collaboration benefit my business?
MYOB AccountRight's multi-user functionality can help you save time and reduce the risk for error. Because unlimited users can work on the same file, at the same time, the chance of double handling or updating old versions is reduced. Staff can enter data directly into the accounting system, rather than completing paper forms which then need to be keyed in.
How can multi-user collaboration benefit my accountant or bookkeeper?
A MYOB AccountRight subscription lets you invite accountants and bookkeepers to access your online company file wherever they are, at any time. It allows you to work more efficiently by working on the same file simultaneously without having to make a copy and send it back and forth.
How many users can collaborate at the same time?
Unlimited authorised users can work on the same file at the same time. This is extremely useful if you have a staff member working on the file who has to take sick leave, as another staff member can be granted access to the file in minutes.
Who can I invite as an authorised user?
You can invite anyone to have online access to your file as long as they have the latest version of AccountRight; an internet connected PC and are a company file user. You can manage users or change access via my.MYOB.
What if I want to invite more than five users to collaborate with?
MYOB AccountRight comes with a fixed number of user licenses. MYOB AccountRight Premier will have access for up to 50 users and will be available for release in 2013.
What control do I have over authorised users?
With a MYOB AccountRight subscription, the software owner controls who has access to their accounts and for how long. You can give short-term access to your accountant, or make a staff member an administrator to help manage other users. You can view and change who has access to your data any time via my.MYOB.
Can I modify a user's access within the file?
You can easily manage and modify a staff member's nominated company file access to accommodate changes in your business and their position.
How do I manage users for online collaboration?
With a MYOB AccountRight subscription you give others access to your online company files by 'inviting' them. You control who can access your online accounts and how by setting online access types. Online access is different to company file access. Online access enables you to control the level of online access each user has, which determines how they work with an online file. Depending on who you are giving access to, you can set up two types of online access:
AN ONLINE FILE USER
This is the level of access you would grant most of your users. These users can access any of the online company files they have accepted an invitation to use.
AN ONLINE ADMINISTRATOR
These users can work with any company file that is listed under the owner's software serial number. An online administrator can also subscribe to additional online company files, invite users to access an online company file and manage your MYOB AccountRight subscription.
You can give online administrator access to your office manager or bookkeeper, so they can perform administrator tasks for you.
What is smart bills?
Make record keeping easier by saving bills and supplier invoices in your accounts. It makes working with your accountant more efficient, you can reduce the amount of paper filing you do and easily meet your document retention requirements.
Smart bills is a new feature in AccountRight Standard, Plus and Premier.
How does smart bills benefit clients?
- Free yourself from your office when managing supplier invoices and bills (remove yourself from your in tray of paper bills).
- Make it easier to work with your accountant/bookkeeper (easily share the source documents to show what an expense was for).
- Reduce paper clutter; no need to have folders for filing – it’s all there in your software.
- Improve productivity. Let AccountRight save you time on data entry and improve the accuracy of your information. Key information – like supplier invoice number, invoice date, ABN (GST number in NZ) and amounts including GST – are automatically ‘read’ from the document and added to the bill in AccountRight where possible.
- ATO and IRD compliance – securely store records for tax purposes for 5 years in AU, 7 in NZ without fear of fading (providing you have a valid subscription).
- Easy retrieval – so you can compare previous bills or supplier invoices with current ones.
- Help manage cash flow and get more accurate information in your accounts. Get clear insight into money you owe, by entering expenses as soon as you receive them, not just when you pay them.
How does it work?
You need to be working online for this feature to work in AccountRight.
1. Upload a document to your In Tray in AccountRight.
You can upload in a couple of ways:
- Drag and drop documents from windows explorer into the In Tray.
- Email a document to email@example.com or firstname.lastname@example.org. It’ll appear in your In tray. (You need to send the bill from the same email address as your my.myob details. Your email address can only be used for one company file, not multiple.)
- Open the In tray and click Add Documents.
2. The document will appear in your In Tray, ready to be linked to a bill.
3. You can create a new bill in AccountRight. Where possible, we’ll enter some of the details for you, and check the ABN is valid.
4. Or link the document to a bill you’ve already entered into AccountRight.
5. When you’ve linked a document, you can see it whenever you open the bill in AccountRight.
How much does it cost?
It’s currently included in an MYOB AccountRight monthly subscription.
What happens to my documents if I stop using AccountRight?
How is the data read from the document?
When a document is uploaded to the In Tray, it’s scanned for important information, like the date, supplier invoice number, total amount due including GST and the supplier ABN or GST number.
This information is then filled in for clients when they choose to create a new transaction from a linked document, saving them time and data entry hassles.
How does this feature help you manage your suppliers better?
When you upload a document, it reads the ABN or GST number from the document, and looks for it in your supplier contacts. If it can't find it, and you choose a supplier without an ABN, it updates the ABN for the supplier. So in future, it'll automatically match to that supplier.
Can I load multi-page bills?
Yes, you can load multi-page bills, as long as they are not over 10MB in size. The thumbnail (both in the In Tray and after you link the document will show only the first page, but when you enlarge the document, you’ll be able to scroll through to see all pages.
Can I set up auto-forwarding rules from my email?
At the moment, we don’t recommend setting up auto-forwarding rules in your email.
Different email providers work differently, and our testing shows that some auto forwarded emails appear in the email@example.com or firstname.lastname@example.org inbox as being sent by the supplier, not by you.
Is there a mobile app to capture documents?
There are a variety of excellent free third party mobile applications that support high quality capture of documents and you can use these to email documents from your mobile device into smart bills. (Such as Pixelnetica SharpScan).
We don’t recommend using the standard camera application on your mobile device as it results in poor quality images and is unlikely to support pre-filling of fields.
What about receipts? Can I use this feature for receipts?
Not yet. The ability to link the receipt to a “spend money” transaction in AccountRight will be coming later this year.
Can I load credit notes from suppliers and link them to supplier returns?
Not yet. You can’t currently link a credit note to a supplier return transaction. This functionality is on the back log, but has no planned timing for release.
Is there any limit on storage?
There is currently no limit on storage, but a fair use policy will apply (as it does for bank feeds).
What types of files can I upload?
You can load any PDF, TIF or JPEG files. They cannot be larger than 10 MB each.
What happens if I try to upload a document that’s more than 10 MB?
If you email in a document that’s more than 10MB, you’ll get an email back saying that we couldn’t load your document as it’s too big.
If you try and upload a document from within the product (or drag and drop it) that’s more than 10 MB, you’ll get a ‘file too large’ message in product.
How many documents can I upload at once?
You can select multiple documents to upload, however AccountRight will only upload the documents one at a time.
What other situations will I receive an error message or email about my document not being added to my In tray?
- If you email a document from an email address, and you’re not the owner or an administrator in my.myob, then you will receive a message telling you to send the document from your registered email.
- If you email documents from an email that is registered for more than one MYOB Essentials business, you will receive an error message saying that we can’t load your documents via email, you need to add them from within the software.
- You’ll receive an error message if you try to load a corrupted document that reminds you to load only valid files (PDFs, TIFs or JPEGs) and states that we couldn’t read the document. It also contains tips on how to better scan documents (the most likely cause of corruption).
- If you try and load a document other than a valid document (PDF, TIF, JPEG or BMP).