MYOB

MYOB (short for “Mind Your Own Business”) is a leading business management platform designed to support small to medium-sized businesses across Australia and New Zealand. With a comprehensive suite of tools, MYOB helps business owners simplify complex operations—ranging from accounting and payroll to inventory and job tracking.

The platform’s goal is to empower entrepreneurs, bookkeepers, and growing enterprises to stay focused on what matters most—running their business—while MYOB handles the numbers, compliance, and processes in the background.

Whether you’re a sole trader, a startup, or a growing business with a full team, MYOB offers flexible cloud-based and desktop solutions tailored to your size and industry.

Main Features of MYOB

Here’s a breakdown of MYOB’s key features and what makes them essential for business operations:

1. Invoicing

MYOB makes it easy to create and send professional invoices from any device. You can track invoice status, set up automatic reminders, and accept online payments, helping improve cash flow and reduce late payments.

2. Accounting

The accounting module is at the heart of MYOB. It includes real-time expense tracking, bank feed integrations, automated reconciliations, and financial reporting. You always have a clear picture of your profit, loss, and tax obligations.

3. Payroll Management

MYOB offers a robust payroll system that handles employee payments, tax calculations, and leave tracking. It’s fully compliant with Single Touch Payroll (STP) regulations, ensuring that your reporting to tax authorities is seamless and stress-free.

4. Time Tracking and Timesheets

With built-in time-tracking features, MYOB allows businesses to manage rosters, approve timesheets, and link hours worked directly to payroll. This helps eliminate manual entry and improves accuracy in wage payments.

5. Inventory Management

Manage your products with detailed stock tracking, automatic reordering, and inventory reports. You can keep tabs on what’s in stock, what’s on order, and how your inventory is affecting your cash flow.

6. Job Costing and Project Tracking

Track the financial performance of individual jobs or projects. Allocate time, materials, and resources to each job to understand profitability and make smarter decisions about where to invest your energy.

7. Bill and Expense Management

Stay on top of supplier bills and business expenses. You can upload receipts, categorize spending, and automate recurring bills. This keeps your records clean and helps you prepare for tax season with minimal effort.

8. Cash Flow Forecasting

MYOB offers tools to forecast cash flow, helping you plan for the future with confidence. Visual dashboards allow you to understand upcoming income and expenses, so you can make decisions proactively rather than reactively.

9. Multi-Currency and Location Support

For businesses that operate internationally or across multiple sites, MYOB supports multi-currency transactions and lets you manage operations from different locations—ideal for wholesalers or businesses with retail and online arms.

10. Mobile Access

With a mobile-first approach, MYOB lets you manage your business on-the-go. Send invoices, approve payments, check reports, or reconcile transactions directly from your phone or tablet.

Business Plans for Every Stage

MYOB offers several product tiers to fit different business needs:

• For sole traders and freelancers: A lightweight version to track income and expenses, create invoices, and stay compliant.
• For small businesses: Add payroll, manage a growing team, and track inventory.
• For growing companies: Full-featured plans that include advanced job costing, inventory control, and multi-user access.

Why Businesses Choose MYOB

• Intuitive user interface designed for non-accountants
• Seamless integration with banks, payment gateways, and third-party apps
• Excellent support and onboarding assistance
• Strong local compliance for taxes and payroll
• Cloud and desktop options depending on your preference

Conclusion

MYOB is more than just accounting software—it’s an all-in-one business management platform. With its focus on automation, compliance, and real-time visibility, MYOB simplifies everyday business tasks so owners can focus on growing and scaling with confidence. Whether you're just getting started or managing a fast-moving enterprise, MYOB offers the tools you need to run your business more efficiently.