MYOB
Business management platform popular in Australia and New Zealand.
About MYOB
MYOB is a desktop-and-cloud accounting platform built specifically for Australian and New Zealand compliance requirements. It handles BAS lodgement directly through the ATO portal, runs Single Touch Payroll reporting, tracks GST across transactions, and connects to Australian bank feeds in real time. For a sole trader or small firm handling local clients, it covers the full compliance cycle without bolting on third-party tax tools. MYOB fits small-to-medium Australian and New Zealand businesses best — particularly those running payroll alongside bookkeeping and needing automated STP and BAS workflows. Accountants managing a mixed client portfolio of 5 to 50 employees per entity will find the payroll module genuinely useful rather than decorative. Firms with international operations will hit walls quickly; multi-currency support exists but is not the platform's strength. The honest limitations: MYOB's interface feels dated compared to Xero, and the learning curve for new staff is steeper than it should be at this price point. The desktop version and cloud version have feature gaps that catch firms mid-migration. There is no free tier, no meaningful trial without a sales conversation, and switching costs are high once client data is embedded. It is the incumbent for a reason, but that incumbency has not pushed the product forward as fast as the market has moved.
Best for
Australian and New Zealand businesses needing accounting with local tax compliance
Key Features
- Australian BAS lodgement automation
- Integrated payroll with STP reporting
- Multi-currency accounting
- Real-time bank feeds
- GST compliance reporting
Pros & Cons
Pros
- Lodges BAS directly to the ATO from within the platform, removing a separate submission step for Australian practices
- Single Touch Payroll reporting is built into payroll runs, not an add-on, which matters for clients with weekly pay cycles
- GST coding and reporting is configured for Australian and New Zealand tax structures out of the box
- Real-time bank feeds connect to all major Australian banks including CommBank, ANZ, Westpac, and NAB without manual CSV imports
- Business lending is offered directly through MYOB, giving small business clients a financing option tied to their actual accounts data
- Desktop and cloud versions exist for firms whose clients refuse to move entirely off local software
- Stripe and PayPal integrations allow product-based businesses to reconcile payment platform deposits automatically
Cons
- No free tier and no self-serve trial — evaluation requires signing up for a paid plan or going through a sales contact
- The desktop version and cloud version (MYOB Business vs MYOB AccountRight) have different feature sets, and clients often land on the wrong one for their workflow
- Interface design lags behind Xero in usability; staff training time is consistently higher than competing platforms report
- Multi-currency accounting is available but limited — firms handling significant foreign currency transactions will find Xero or QuickBooks Online more capable
- Data export options are restrictive, and migrating away from MYOB once a client's historical data is inside requires significant manual work or paid migration help
- Pricing scales up sharply once payroll employee counts or feature tiers increase, with the entry plan at $13/mo covering very little for a practice with real volume
Ledger Brief Take
This isn't an AI tool — it's a traditional accounting platform that's dominated the Australia/New Zealand market for decades, handling everything from basic bookkeeping to BAS lodgement. While comprehensive for local compliance needs, MYOB represents the established software category that newer AI-powered alternatives are trying to disrupt rather than being an AI solution itself.
Frequently Asked Questions
Common questions accountants ask about MYOB.
How does MYOB pricing work and what does the entry plan actually include?
MYOB starts at $13 per month for the most basic plan, which covers invoicing and expense tracking for a single user with no payroll. Payroll and BAS lodgement require a higher tier, typically $54/mo or above depending on employee count. There is no free plan. Pricing is not fully transparent without selecting a specific plan on their site.
How does MYOB compare to Xero for Australian accountants?
MYOB has deeper native ATO integration and a longer track record with BAS lodgement workflows. Xero has a cleaner interface, stronger multi-currency handling, and a larger third-party app ecosystem. Most Australian mid-market practices use one or the other as their primary platform, not both. Xero is gaining ground among younger firms; MYOB retains a large base of established businesses that have used it for over a decade.
Can MYOB handle Single Touch Payroll for clients with multiple pay schedules?
Yes. STP reporting in MYOB covers weekly, fortnightly, and monthly pay cycles and submits directly to the ATO after each pay run. Phase 2 STP compliance, which requires disaggregated income reporting, is supported. This is one of the platform's genuine strengths for Australian payroll work.
Does MYOB integrate with QuickBooks or allow data import from Xero?
MYOB does not integrate with QuickBooks or Xero. Migrating data from either platform into MYOB requires manual export and re-import, typically via Excel, or use of a paid migration service. Chart of accounts and historical transaction data rarely transfer cleanly without manual correction.
Is MYOB appropriate for a New Zealand practice as well as Australian firms?
Yes. MYOB supports GST filing for New Zealand businesses and has NZ-specific payroll compliance built in. The platform is used across both markets, though the ATO-specific features are more developed than the IRD equivalents. New Zealand firms comparing options should also evaluate Xero, which was founded in New Zealand and has strong local market presence.
What are the data security and backup arrangements for MYOB cloud accounts?
MYOB cloud data is hosted in Australian data centres, which matters for practices subject to Australian Privacy Act obligations. Automatic backups run daily. The desktop version requires firms to manage their own backup schedule, which is a genuine risk if clients are running AccountRight locally without IT oversight.