MYOB launches Essentials for SME accounting

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MYOB launches Essentials for SME accounting

If you're an accountant who uses MYOB, the new MYOB Essentials Accounting might be of interest.

MYOB's new Essentials cloud accounting system comes in two versions, but one is available only through accountants and other MYOB partners.
MYOD Essentials Accounting is the successor to LiveAccounts. It features a spiffed-up user interface, and - like AccountRight Live - provides an API allowing other companies to develop add-ons.
Among the first partners to start working with the MYOB Essentials API are Shoeboxed, ServiceM8 (field service management) and SmartJobs (job management).
Significantly, the $29 per month subscription includes quotes, invoices, expenses, payroll, GST and BAS, with no limits on the number of bank transactions (the system uses MYOB BankLink to minimise data entry), invoices, users, or employees.
In the spring MYOB will separate the payroll function from Essentials Accounting and release an optional payroll module with increased functionality. Essentials Accounting with Payroll will then cost $40 per month, but there's no indication that the price of the basic system will fall to compensate for the removal of basic payroll capabilities.
Other add-on modules are planned, but MYOB officials gave no indication of what they will be. 
"Our vision is to make cloud accounting easy for every business: easy for those just starting out, easy for those running on desktop software that want to move to the cloud, and easy for our partners who are increasingly requiring cloud offerings to evolve their businesses," said James Scollay, general manager of MYOB's business division.
"With MYOB Essentials, we’re delivering a fresh, innovative and intuitive client experience."
The other version of the new system is MYOB Essentials Cashbook, which is not yet generally available. Available only through MYOB partners such as accountants, it is aimed at businesses with simple requirements that want to leave most of the work to their accountants or bookkeepers and yet have real-time access to their current position.
The news comes just days after rival accounting software provider Reckon finally released its Reckon One cloud-based system.
In related news, MYOB announced that MYOB Essentials will soon integrate with MYOB Accountants Office and MYOB Accountants Enterprise, and that MYOB PayDirect integration is also planned.
The company also announced MYOB Accountants Office OnTheGo and MYOB Accountants Enterprise OnTheGo which allows accountants to access their practice management data from any web browser, including mobile devices.
Adam Ferguson, general manager of MYOB's accounting division, said "we are supporting our partners to make wider use of cloud solutions and applications in the evolution of their business."
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