MYOB Essentials Features

MYOB Essentials

Online accounting & payroll for every business

3.75/5 (89 reviews)

Competitor Feature Comparison

"What If" Scenarios
ACH Payment Processing
API
Access Controls/Permissions
Accounting
Accounting Integration
Accounts Payable
Accounts Receivable
Activity Dashboard
Activity Tracking
Ad hoc Reporting
Alerts/Notifications
Application Management
Approval Process Control
Asset Tracking
Audit Trail
Automatic Backup
Automatic Billing
Bank Reconciliation
Billing & Invoicing
Billing Portal
Budgeting/Forecasting
CPA Firms
Calendar Management
Cash Flow Management
Cash Management
Chart of accounts
Client Management
Client Portal
Collaboration Tools
Collections Management
Compliance Management
Consolidation/Roll-Up
Construction Breakdowns
Contact Database
Contact Management
Contract/License Management
Credit Card Processing
Customer Database
Customizable Branding
Customizable Invoices
Customizable Reports
Customizable Templates
Dashboard
Data Import/Export
Data Synchronization
Document Management
Drag & Drop
Dunning Management
Electronic Payments
Email Management
Expense Claims
Expense Management
Expense Tracking
Financial Analysis
Financial Management
Financial Reporting
Fixed Asset Management
For Government
Forecasting
Fraud Detection
Fund Accounting
General Ledger
Goal Setting / Tracking
Income & Balance Sheet
Inventory Control
Inventory Management
Inventory Tracking
Invoice Creation
Invoice History
Invoice Management
Invoice Processing
Job Costing
Job Management
Job Tracking
Leave Tracking
Mobile Access
Mobile App
Mobile Payments
Multi-Company
Multi-Currency
Multiple User Accounts
Nonprofits
Offline Access
Online Invoicing
Online Payments
Order Management
Overrun Reporting
Partial Payments
Payment Processing
Payroll Management
Payroll Reporting
Profit/Loss Statement
Profitability Analysis
Project Accounting
Project Management
Project Time Tracking
Project Tracking
Purchase Order Management
Purchasing & Receiving
Quotes/Estimates
Real Time Data
Real Time Reporting
Real-time Updates
Receipt Management
Receivables Ledger
Records Management
Recurring Payments
Recurring/Subscription Billing
Reporting/Analytics
Revenue Recognition
Sales Management
Sales Tax Management
Search/Filter
Self Service Portal
Sick Leave Tracking
Spend Management
Status Tracking
Supplier Management
Tax Calculation
Tax Compliance
Tax Management
Third Party Integrations
Time & Expense Tracking
Time Tracking
Timesheet Management
Transaction History
Vacation/Leave Tracking
Vendor Management
Learn moreCompare App
"What If" Scenarios
ACH Payment Processing
API
Access Controls/Permissions
Accounting
Accounting Integration
Accounts Payable
Accounts Receivable
Activity Dashboard
Activity Tracking
Ad hoc Reporting
Alerts/Notifications
Application Management
Approval Process Control
Asset Tracking
Audit Trail
Automatic Backup
Automatic Billing
Bank Reconciliation
Billing & Invoicing
Billing Portal
Budgeting/Forecasting
CPA Firms
Calendar Management
Cash Flow Management
Cash Management
Chart of accounts
Client Management
Client Portal
Collaboration Tools
Collections Management
Compliance Management
Consolidation/Roll-Up
Construction Breakdowns
Contact Database
Contact Management
Contract/License Management
Credit Card Processing
Customer Database
Customizable Branding
Customizable Invoices
Customizable Reports
Customizable Templates
Dashboard
Data Import/Export
Data Synchronization
Document Management
Drag & Drop
Dunning Management
Electronic Payments
Email Management
Expense Claims
Expense Management
Expense Tracking
Financial Analysis
Financial Management
Financial Reporting
Fixed Asset Management
For Government
Forecasting
Fraud Detection
Fund Accounting
General Ledger
Goal Setting / Tracking
Income & Balance Sheet
Inventory Control
Inventory Management
Inventory Tracking
Invoice Creation
Invoice History
Invoice Management
Invoice Processing
Job Costing
Job Management
Job Tracking
Leave Tracking
Mobile Access
Mobile App
Mobile Payments
Multi-Company
Multi-Currency
Multiple User Accounts
Nonprofits
Offline Access
Online Invoicing
Online Payments
Order Management
Overrun Reporting
Partial Payments
Payment Processing
Payroll Management
Payroll Reporting
Profit/Loss Statement
Profitability Analysis
Project Accounting
Project Management
Project Time Tracking
Project Tracking
Purchase Order Management
Purchasing & Receiving
Quotes/Estimates
Real Time Data
Real Time Reporting
Real-time Updates
Receipt Management
Receivables Ledger
Records Management
Recurring Payments
Recurring/Subscription Billing
Reporting/Analytics
Revenue Recognition
Sales Management
Sales Tax Management
Search/Filter
Self Service Portal
Sick Leave Tracking
Spend Management
Status Tracking
Supplier Management
Tax Calculation
Tax Compliance
Tax Management
Third Party Integrations
Time & Expense Tracking
Time Tracking
Timesheet Management
Transaction History
Vacation/Leave Tracking
Vendor Management
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"What If" Scenarios
ACH Payment Processing
API
Access Controls/Permissions
Accounting
Accounting Integration
Accounts Payable
Accounts Receivable
Activity Dashboard
Activity Tracking
Ad hoc Reporting
Alerts/Notifications
Application Management
Approval Process Control
Asset Tracking
Audit Trail
Automatic Backup
Automatic Billing
Bank Reconciliation
Billing & Invoicing
Billing Portal
Budgeting/Forecasting
CPA Firms
Calendar Management
Cash Flow Management
Cash Management
Chart of accounts
Client Management
Client Portal
Collaboration Tools
Collections Management
Compliance Management
Consolidation/Roll-Up
Construction Breakdowns
Contact Database
Contact Management
Contract/License Management
Credit Card Processing
Customer Database
Customizable Branding
Customizable Invoices
Customizable Reports
Customizable Templates
Dashboard
Data Import/Export
Data Synchronization
Document Management
Drag & Drop
Dunning Management
Electronic Payments
Email Management
Expense Claims
Expense Management
Expense Tracking
Financial Analysis
Financial Management
Financial Reporting
Fixed Asset Management
For Government
Forecasting
Fraud Detection
Fund Accounting
General Ledger
Goal Setting / Tracking
Income & Balance Sheet
Inventory Control
Inventory Management
Inventory Tracking
Invoice Creation
Invoice History
Invoice Management
Invoice Processing
Job Costing
Job Management
Job Tracking
Leave Tracking
Mobile Access
Mobile App
Mobile Payments
Multi-Company
Multi-Currency
Multiple User Accounts
Nonprofits
Offline Access
Online Invoicing
Online Payments
Order Management
Overrun Reporting
Partial Payments
Payment Processing
Payroll Management
Payroll Reporting
Profit/Loss Statement
Profitability Analysis
Project Accounting
Project Management
Project Time Tracking
Project Tracking
Purchase Order Management
Purchasing & Receiving
Quotes/Estimates
Real Time Data
Real Time Reporting
Real-time Updates
Receipt Management
Receivables Ledger
Records Management
Recurring Payments
Recurring/Subscription Billing
Reporting/Analytics
Revenue Recognition
Sales Management
Sales Tax Management
Search/Filter
Self Service Portal
Sick Leave Tracking
Spend Management
Status Tracking
Supplier Management
Tax Calculation
Tax Compliance
Tax Management
Third Party Integrations
Time & Expense Tracking
Time Tracking
Timesheet Management
Transaction History
Vacation/Leave Tracking
Vendor Management
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Mobile apps

iOS App


86 reviews

Requires iOS 10.3 or later. Compatible with iPhone, iPad, and iPod touch.

Android App


305 reviews

MYOB Essentials Feature Reviews

25 reviewers had the following to say about MYOB Essentials's features:

Pam D.

Small business user

2018-07-10

Good program for small business and very easy to fix mistakes but no audit trail

Pros

Easy to use and can have detailed accounts set up,at 4 levels Reports are set up so easy to use out of the box Great program in box

Cons

From an audit perspective not great as you can renter things without an audit trail No reporting flexibility

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

8/10
Source: Software Advice
Helpful?   Yes   No
Read more
Melanie F.

Easy to use for Small Business

2018-10-04

I've been using MYOB Essentials for about 2 years now. It's a simple system for a small business.

Pros

Great import feature for bank accounts (main bank accounts are available - some smaller banks are not able to auto import) Simple payroll functionality Easy account reconciliation

Cons

There is no simple search facility across the database - you have to enter each screen to perform a search Reports are hard to find and dates are

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 1-2 years

Frequency of use: Weekly

Likelihood to recommend

7/10
Source: Software Advice
Helpful?   Yes   No
Read more
Rani R.

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

2018-03-13

Great accounting, and always updating with new features.

Pros

-Highly customisable for invoicing and parts inventories.

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.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

8/10
Source: Capterra
Helpful?   Yes   No
Read more
Anonymous
(Computer Software company, 501-1000 employees)

Product to keep your accounting and bookkeeping needs. little bit difficult to change & edit reports

2018-06-20

I suggested this software to my friend for daily bookkeeping. she is satified from this product.

Pros

simple use for data entry within the software, simple offline product to use for accounting & bookkeeping.

Cons

difficult to import the transactions with the help of excel. and little bit difficult to change and customize reports

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Monthly

Likelihood to recommend

9/10
Source: Capterra
Helpful?   Yes   No
Read more
Anonymous
A verified reviewer

Good software for offline accounting. you can work on Myob for all your accounting &and Bookkeeping

2018-06-12

Good for accounting & Book-keeping offline.

Pros

You can easily get your Accounting data customized by preparing P&L account & Balance sheet

Cons

Difficult to understand the reporting process.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Daily

Likelihood to recommend

7/10
Source: Capterra
Helpful?   Yes   No
Read more
Adam C.

A very easy to use and follow accounting software, the flow of information is easy to follow

2017-08-16

This software allows me to track and update information easily and in a timely manner

Pros

I like the dashboards that show the flow of information from beginning to end.

Cons

It would also be nice if it had a 'dashoboard' feature, like xero, that shows all the relevant information on one page.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Daily

Likelihood to recommend

8/10
Source: Capterra
Helpful?   Yes   No
Read more
Daz

Okay but . . . . .

2013-08-07

The "cloud" idea is novel, but due to the speed restrictions it is of little real benefit.

Pros

Compatible with earlier versions. Interface is very similar to previous versions.

Cons

For small or casual use it MAY be okay, but for any real data volume, its just too slow.

Source: GetApp
Helpful?   Yes   No
Read more
ELLIE P.

Friendly user

2018-11-28

To be more flexible on forms and reports

Pros

Editing and backup easy to manage and restore function for any error or lost of data to be fixed easily

Cons

Cannot customise report and limited on letters and character to be insert.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Software Advice
Helpful?   Yes   No
Read more
Nicola B.

Very Simple and easy to use, lacking in a few areas but good for a small business just starting out

2018-06-05

Pros

Search function for invoices is good now that you can see POs.

Cons

Too easy to go back and delete stuff too which then doesn't stay on the audit trail, once it's gone it's gone!

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Daily

Source: Capterra
Helpful?   Yes   No
Read more
Michael B.

MYOB keeps us on track and informed

2021-05-26

Pros

Ese of use, accessibility, features are simple, seamless integration, reporting functions, governance

Cons

None, it is clear and easy to use daily.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
Read more
Joe B.

Manual System Converted into Digital

2020-12-29

MYOB has changed the way we work, simplifies book keeping to take away so much pain

Pros

- Easy to signup and simple setup to get things started - Pricing - Special offer for new start ups - Invoice reminders - Invoice templates look very professional - Invoice shows when customer / vendor have viewed (SUPER HELPFUL) - Intray for emailing receipts and tracking

Cons

- Not being able to invoice in multiple currencies, have to workarond this by invoicing in the charable foreign currency then after payment is recieved adjusting the template to the local amount that is received.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: Less than 6 months

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
Read more
Low J.

Great accounting software

2021-05-13

For accounting and statistical analysis of market survey data.

Pros

Feature-rich, more than enough features.

Cons

Design can be sleeker and more customisable, to make it more user friendly.

Rating breakdown

Value for money
Ease of use
Features

Time used: Less than 6 months

Frequency of use: Monthly

Likelihood to recommend

8/10
Source: Capterra
Helpful?   Yes   No
Read more
Russell E.

Not exception but does the job

2016-12-06

However the taxation reporting is very user friendly and makes very monthly reporting and payment very easy to use.

Pros

Taxation reporting

Cons

Customer service

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Monthly

Likelihood to recommend

5/10
Source: Capterra
Helpful?   Yes   No
Read more
Ricki475

MYOB problems

2013-12-08

MYOB has been the main software package in my business for over 18 years I would have to say that this is the slowest version I have ever come across and am very disappointed, between the not being able to create a new customer in the invoice to having timed out when Im not in cloud it is very frustrating to work with, MYOB you were once good is this the sign of the future?????.

Pros

Better reporting (though you have to wait longer)

Cons

Slow operating system,Timing out, New customer only by card file

Source: GetApp
Helpful?   Yes   No
Read more
Anonymous
Investment Banking Analyst (Financial Services company, 1001-5000 employees)
Verified Reviewer

Does a great job with accounting SMB

2018-12-15

Pros

MYOB covers most things that you need in accounting and payroll software for a small business, especially in Australia

Cons

As you scale and need international reporting and accounting procedures, MYOB becomes less comprehensive as a tool

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: Free Trial

Frequency of use: Weekly

Likelihood to recommend

7/10
Source: GetApp
Helpful?   Yes   No
Read more
Paul C.

Probably OK If you Are a Trained Accountant or Bookkeeper

2019-09-29

We wasted a lot of time and resources using this software for our small business accounting needs.

Pros

As a small business owner not trained in the art of accounting there wasn't a lot we found easy about using MYOB Essentials.

Cons

MYOB Essentials is better suited to those with a deeper knowledge of accounting than what we have in our business.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Occasionally

Likelihood to recommend

4/10
Source: Capterra
Helpful?   Yes   No
Read more
Glenn L.

Can not export or import anything useful. Locked in.

2017-10-13

I would avoid unless you only want to use it for a small business with no plans to grow to the stage where you need to upgrade your accounting software.

Pros

Easy to use for a small business.

Cons

Import and export data options VERY limited.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: Less than 6 months

Frequency of use: Daily

Source: Software Advice
Helpful?   Yes   No
Read more
Kerry F.

Easy accounting

2016-12-05

I have used MYOB in different formats and found this the simplest and quickest to use and would recommend to anyone running a business.

Pros

Quick to use

Cons

Reports

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Weekly

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
Read more
DAN F.

Easy to use Accounting Softeware for SMB

2018-09-19

We are currently able to solve all our accounting with the software.

Pros

It's very easy to do most accounting tasks.

Cons

The customer service can take some time to get through to. and limited use of 3rd party payment gateways.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Monthly

Likelihood to recommend

8/10
Source: Capterra
Helpful?   Yes   No
Read more
Steve S.

Good Alternative Cloud Accounting Package for the MYOB Faithful

2019-01-09

Pros

Bank feeds are easier to navigate and interpret than competitors.

Cons

Hard sell to clients who are aware of other market leaders in the cloud accounting space.

Rating breakdown

Value for money
Ease of use
Features

Time used: 2+ years

Frequency of use: Monthly

Likelihood to recommend

7/10
Source: Software Advice
Helpful?   Yes   No
Read more
Matthew K.

Don't start your business accounting with a regrettable decision, look elsewhere!

2020-05-18

I was partially sold on the fact that they have a customer service number to assist if need be, don't be fooled by this either, the call centre workers are rather unfamiliar with the MYOB product (unless I was unfortunate enough to speak with their newest member each time) and all my queries had to be looked up each time and they read answers from a screen which I could find on-line myself , they weren't able to elaborate nor answer any further questions I had outside of what was written in front of them.

Pros

Reasonably easy to use but have found Xero to be much better in almost every way.

Cons

If or once you decide Essentials ins't for you, they do not offer a way to transfer to their own Account Rite product nor do they off to export data to Xero.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

0/10
Source: Capterra
Helpful?   Yes   No
Read more
Lee P.

The software is good for a small entity but once you grow and need more detail it becomes a handbrake on information.

2017-05-22

For a small firm with limited reporting requirements it is okay but for any jobs with Work Breakdown Structure requirements it comes up short and becomes a limiter for the company.

Pros

Good basic internal controls so novice bookkeepers can run day to day. Easy to install and set up.

Cons

Payroll system ordinary serious reporting drawbacks as far as information flow to the General Ledger.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

6/10
Source: Software Advice
Helpful?   Yes   No
Read more
Nigel B.

Beginners and advances users both like MYOB

2018-03-08

Pros

Simple to generate a quote or invoice. Creating customers while creating quotes or invoices is good to keep you moving easily.

Cons

When theres an error, sometimes its not clear what the source of the problem is. This can be frustrating and better error message text would be on the advice to developers list.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: Less than 6 months

Frequency of use: Occasionally

Likelihood to recommend

9/10
Source: Capterra
Helpful?   Yes   No
Read more
Les V.

Unmotivated by others

2020-01-21

Pros

Great templates, works well and the logic seems functional.

Cons

It no longer supports submission to the ATO and is no longer used by the ATO for reporting.

Rating breakdown

Ease of use
Features

Time used: Free Trial

Frequency of use: Weekly

Likelihood to recommend

6/10
Source: Capterra
Helpful?   Yes   No
Read more
Karen Y.

MYOB for business

2019-01-16

Pros

At that time MYOB seems the only one which is capable of doing accounting tasks in Australia

Cons

At that time MYOB online version seems poorly designed, not suitable for multitasking

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

4/10
Source: Capterra
Helpful?   Yes   No
Read more