MYOB Essentials Pricing, Features, Reviews & Comparison of Alternatives

MYOB Essentials

Online accounting & payroll for every business

3.84/5 (80 reviews)

MYOB Essentials overview

What is MYOB Essentials?

MYOB Essentials is an online accounting software that has a range of features designed to help businesses across Australia – whether they’re a start-up or a large business. Easily and quickly take care of GST, PAYG and BAS reports, invoices, reporting, expenses, and payroll (including Single Touch Payroll). Designed to save time, increase productivity, and stay up to date with compliance obligations.

MYOB Essentials is online making it easy to work from anywhere. Being online means business owners can invite accountants, bookkeepers, or their business partners to work together on their business books, including managing cash flow and ATO compliance requirements.

Track and reconcile expenses automatically by simply linking a bank account. Compare and improve business performance by creating clear, targeted budgets, and track profit and loss in real time. Pay employees easily and with confidence and give employees access to payslips and timesheets online.

Essentials is automatically updated every time there’s a tax change to keep businesses in step with the ATO.
www.myob.com

Pricing

Starting from
A$5/month
Pricing options
Subscription
Free trial
Value for money
View Pricing Plans

Devices

Business size

S
M
L

Markets

Australia

Supported languages

English
MYOB Essentials screenshot: Easy online accounting software built for small businessWelcome to MYOB EssentialsMYOB Essentials screenshot: Create dozens of useful reportsMYOB Essentials screenshot: Payroll that grows with you
Easily meet your Single Touch Payroll (STP) obligations
Automatically calculate tax and superannuationMYOB Essentials screenshot: Automatically track and manage bills and expenses. Use the MYOB Capture app to take photos of receipts and send them straight to your software. Plus, you can upload bills (drag and drop) or email them straight to your softwareMYOB Essentials screenshot: Create reports for year-to-date (YTD), payment summaries, turnover, bad debt, liabilities, deductions, accruals and more. Drill down with custom date ranges, tweak and customise against your budgetsMYOB Essentials screenshot: Online invoicing and quotes made easy on any device.MYOB Essentials screenshot: Collaborate on goods and services tax return in the cloud

MYOB Essentials user reviews

Value for money
Features
Ease of use
Customer support
  3.3
  3.6
  3.7
  3.3
Katrina Ryan

Solid product for small business

Used daily for 2+ years
Reviewed 2018-11-07
Review Source: Capterra

Has been around for a long time. Tried and tested and is a great product. Starting to price a little higher but still competitive - especially if you have employees.

Pros
Easy to use and well laid out for the end user. Is great for small operations without complex needs.

Cons
Whilst bank rules are very handy - the auto reconciling of transactions can cause problems if rule set up incorrectly. Would be great if there was an option to make bulk transaction changes.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Rani Rakete

Great software. Does everything we need it to do and more.

Used daily for 2+ years
Reviewed 2018-03-13
Review Source: Capterra

Great accounting, and always updating with new features. Our accountant could just log in and do our end of years immediately.

Pros
-Highly customisable for invoicing and parts inventories. -Has great reports. We found if you knew what you wanted to keep an eye on in the business, then you could design a report for it. Not all accounting programs or workshop software can do that so easily. -once it was set up for our workshop, it worked amazingly. Very intuitive

Cons
-We were new to this software, and it took a long time to set it up, (6 mnths), specifically for how we needed it to work. (automotive workshop), You almost needed to be a trained accountant i felt. -Support used to take at least 1 day if not 2 to get back to you.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 8/10

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Anonymous

Great software, but too pricey for my needs

Used daily for less than 6 months
Reviewed 2020-11-02
Review Source: Capterra

Good software with lots of useful functionality, but too pricey for my needs and too cumbersome compared to other options

Pros
MYOB will polished with lots of mine integrations and options.

Cons
There are a number of different portals with different purposes and I would get lost sometimes navigating the various sites.

Rating breakdown

Value for money
Ease of use
Features

Likelihood to recommend: 5/10

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Gavin Power

MYOB in the Clouds

Used daily for 6-12 months
Reviewed 2016-11-23
Review Source: Capterra

Windows based product with very easy to use menus. It has all the bells and whistles of modern accounting software. I particularly liked the Payroll and Budgeting. Its a product that I believe needs to be tested by accountants. I think some aspects would be tricky for bookkeepers whereas other aspects accountants pull their hair out and the lack of reporting options and some silly rules that make it harder to use. I don't get the impression that they listen to your feedback. Sadly the organisation has some arrogance. I noted this particularly when being trained in the product. The organisation would benefit greatly from listening to feedback and improving its report options. For example. No comparative Balance Sheet. No reports which can be produced relating to staff hours. The journal report is woeful, sadly you have to use journal more than you would want. No Fixed Asset Register. On the other hand I love the budget reports, very easy to manipulate. The graphs which come with the budget are useless. The ease to enter pay roll data is awesome. I love the bank feeds and many more aspects of this package. I think if they combine the best aspects of Account right and Essentials to target medium sized entities, MYOB would be hard to beat.

Pros
Payroll and Budgeting and very easy to use. Nice features with Invoice design also.

Cons
The Journals report is awful, no Fixed Asset register. No reports on Payroll hours worked.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 6/10

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Nicole Goodwyn

One of the top software for bookkeeping

Used daily for 2+ years
Reviewed 2018-11-14
Review Source: GetApp

Pros
I enjoy using MYOB simply because it does everything you need for a small business - sometimes needs more explanation with accounting though for new people.

Cons
glitches with POS machines is really the only thing I ever came across with this program, so not alot from a small business perspective.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 8/10

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MYOB Essentials pricing

Starting from
A$5/month
Pricing options
Subscription
Free trial
View Pricing Plans

Essentials Payroll: $5.00 / month
Accounting Starter: $13.50 / month
Accounting: $24.00 / month
Accounting + Payroll: $30.00 / month

50% off for 3 months.
A 30-day free trial is available.

MYOB Essentials features

API
Accounting Integration
Accounting Management
Activity Dashboard
Audit Trail
Billing & Invoicing
Compliance Management
Customizable Reporting
Electronic Payments
Expense Tracking
Invoice Management
Invoice Processing
Multi-Currency
Real Time Data
Third Party Integration

Automatic Notifications (181 other apps)
Data Import/Export (205 other apps)
Financial Analysis (148 other apps)
Reporting & Statistics (298 other apps)
Workflow Management (177 other apps)

Security and privacy

Encryption

Encryption of sensitive data at rest
HTTPS for all pages

Access control

Multi-factor authentication options
This will ask you to sign in with LinkedIn

Videos and tutorials

Additional information for MYOB Essentials

Key features of MYOB Essentials

  • API
  • Accept payment from invoices (PayDirect Online)
  • Accept timesheets via online or mobile
  • Access Control
  • Accounting integration
  • Accounting management
  • Accounting, GST and BAS
  • Activity dashboard
  • Ad Hoc Reporting
  • Application integration
  • Assignment Management
  • Audit trail
  • Auto-Matching
  • Automated Scheduling
  • Automatic Backup
  • Automatic leave calculation
  • Automatic updates
  • BAS
  • Balance Sheet
  • Bank feeds
  • Bank reconciliation
  • Banking & credit card transaction import
  • Batch Payments
  • Billing & invoicing
  • Bookkeeping
  • Budgeting
  • Business Analysis
  • Cash flow statement
  • Cash management
  • Charting
  • Collaboration tools
  • Compensation calculation
  • Compliance management
  • Contact History
  • Contact management
  • Coordinate payroll
  • Create and track jobs
  • Credit Card Processing
  • Customer History
  • Customizable Branding
  • Customizable reporting
  • Expense claims
  • General ledger
  • Goal setting
  • Income statements
  • Inventory management
  • Inventory tracking
  • Invoice Templates
  • Invoice management
  • Invoice processing
  • Job management
  • Leave tracking
  • Live reporting
  • LiveChat support
  • MYOB BankFeeds
  • Manage customers and suppliers
  • Manage inventory items list
  • Mobile friendly
  • Mobile integration
  • Mobile transaction synchronization
  • Multi-currency
  • Multi-user access
  • Multiple accounts
  • Multiple user accounts
  • No lock in contracts
  • Offline access
  • Online support
  • Pay employees & track leave
  • Payment tracking
  • Payroll management
  • Profit / loss statement
  • Profitability analysis
  • Project time tracking
  • Project tracking
  • Purchase order management
  • Quote management
  • Real time cash flow management
  • Real time data
  • Real-time timesheets access for employees
  • Records management
  • Recurring billing
  • Sales tax management
  • Secure login
  • Sick leave tracking
  • Single Touch Payroll
  • Smartphone app
  • Superstream
  • Tax updates
  • Time & expense tracking
  • Time billing
  • Timesheets
  • Track and pay expenses
  • Track inventory levels
  • Track profit and loss on jobs
View All Features

Benefits

• Expense tracking - automatically import your banking and credit card transactions securely and directly, always under your control.

• Give your customers more ways to pay with online invoices through AMEX, Visa, Mastercard or BPAY payments

• Updated automatically every time there’s a tax change, like Single Touch Payroll - making you compliant without lifting a finger

• Easily invite bookkeepers, accountants, or business partners into your account to collaborate from anywhere.

• Compare and improve business performance by creating clear, targeted budgets, and track profit and loss in real time