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MYOB Features and Benefits

MYOB Accounting Features and Benefits

MYOB Accounting features and benefits 

  •  MYOB Accounting is not just an accounting software
  • It is an integrated business and inventory management solution
  • More than l50 standard reports covering all aspects of your business 
  • All reports can be exported to Microsoft Excel for further analysis
  • Help menu accessible from every screen
  • Maintain 7 years history
  •  It is GST ready.  Used in many GST countries worldwide.   


Functions available

  •  Accounts
  •  Jobs and Project Management
  •  Banking
  • Sales Invoicing & Receivables tracking
  • Purchase Order & Payables tracking
  • Inventory & Stock Control
  • Card File Management
  • To-Do List reminders
  • Reports
  • Time Billing (for MYOB Premier only)
  • Handles Multi Currency transactions  (for MYOB Premier only)
  • Multi user and network ready (for MYOB Premier only)



  • Get started fast with Easy Setup Assistant
  • Create your company chart of accounts from the 100 sample accounts provided; or create your own accounts list
  • 5 digits accounts list
  • Track 4 levels of account details
  • Mark unused accounts as inactive
  • View by account name or account number
  • Let the Smart Account Selection bring you to the correct account category for your transaction entry
  • Set 2 years budgets for all accounts
  • Budgets can be imported from, and  exported to, Microsoft Excel
  • Allows 26 months ‘open’ periods
  • Records double entry accounting transactions behind the scenes for you
  • Maintain 7 years history
  • Business Insights. Analyse key financial information using interactive tables and graphs



  • See a running balance and an at-a-glance view of your bank account status from the Bank Register
  • Enter line memo for every transaction
  • Prints ‘payment vouchers’ and cheques
  • Include logos and specific instructions on payment vouchers and receipts
  • Drill down from the Bank Register / Transaction Journal to the source of the transaction
  • Save recurring transactions to be performed accurately and on-time 
  • Set a reminder schedule for regular transactions
  • Display and alerts user on the due date of the recurring transactions
  • Access past transactions and create new transactions from the Bank Register
  • Reconcile bank accounts as of a past date
  • Undo previous month’s bank reconciliation when reconciled in error
  • Enter interest earned and service fees from the Bank Reconciliation screen
  • Drill down from Bank Reconcile screen to original transactions
  • Enter bank statement date to show only transactions applicable to that date
  • View a list of banks and the date it was last reconciled
  • View previous bank reconciliation report
  • Get a report on your undeposited funds
  • Import downloaded online statement into MYOB and let MYOB match them up for fast bank statement reconciliation
  • Receive warning if you enter a duplicate Cheque No.


Sales & Receivables

  • Choose from Service, Item, Professional and Time Billing sales format
  •  Easily customise your invoice format, add logos and specific instructions
  • Add lines, headers, subtotals to invoices
  • Create quotations, and sales orders and change to invoices easily, without having to re-type
  • Create a memo for each line on an invoice for better tracking
  • Set credit terms per customer or per sale
  • Track the referral source of your sales
  • Save sales transactions as recurring for repeated use
  • Print and Email sales quotations, delivery orders, and invoices to your customers
  • Email customer statements from  MYOB
  • Enter a default email message for emailing sale invoice, or customer statement
  • Use the Sales Register to view sales status and create sales invoice, quotation, orders
  • Drill down from sales register to access original information
  • Access a customer activity statement for a date range
  • Look up an invoice by invoice No. or customer PO No.
  • Track backorder quantity on invoice
  • Receive warning if a duplicate Customer PO No. or Sales Invoice No. is entered
  • Set and enforce customer credit limits, and place customer accounts on hold 
  •  Prevent users from recording sales if customer’s account is overdue, unless authorized
  • Display the total of all balances for your customers and the current balance of the Control (“Linked”) Accounts and compares them
  • Analyse sales by salesperson
  • Analyse profitability by product and customer


Purchases & Payables

  • Use the Purchases Register to view purchases status and create purchases, quotes, orders
  • Create purchases orders
  • Pay bills, receive refunds and apply debits to purchases from the Purchases Register
  • Look up purchase by PO No. or by vendor
  • Create instant purchase orders for backordered items
  • Remembers the primary supplier and the last price paid for the item
  • Buy and sell in different units
  • Drill down from purchases register
  • Email purchase order to vendors


Inventory management

  • Automatically track quantity and costs for all inventoried stock items
  • Track items that consist of components,  sub-assemblies, and finished goods
  • Set levels to automatically back-order, buy or build low stock items
  • Use the Items Register to see an inventory audit trail of all the sales, purchases and inventory adjustments recorded for a single item, or for all items.
  • View the quantity and dollar value of an item at a certain date  
  • Price the same item differently with 6 user named price breaks and 5 user defined quantity breaks
  • Categorise your stock using 3 user-definable  fields per item - searchable 
  • Create item numbers with up to 30 alphanumeric digits
  • Receive low inventory warning upon sale
  • Mark unused items as inactive


Jobs and Project Management

  • Track jobs and sub-jobs
  • Track Job revenue, direct costs, expenses,
  • Track budgets for jobs
  • Track categories for division/ departmental reporting
  • Receive warning alert if user does not enter the job code or category code for transactions
  • Run  an exception report to view all transactions where there are no job codes attached
  • Enter expenses to be automatically reimbursed from jobs


Contact Management – Customers, Suppliers, Employees

  •  Capture and manage extensive contact information for customer, supplier, employees and personal contacts
  • Store up to 5 addresses per customer or supplier,  each with 3 phones, an email,  web address and fax number
  • Customize data presentation for each customer and vendor – default salesperson, default sales/ expenses account code, default invoice format
  • Create letters with one-click access to Microsoft® Word and let MYOB fill in personalized information on letter templates, such as amount owed for collection letters
  • Create custom lists and custom fields for contacts
  •   Maintain a detailed contact log for every card
  • View a summary of contact notes
  • Group contacts according to identifiers
  • Generate mailing labels
  • Mark unused contact cards as inactive
  • Search by individual, company, postcode range, last contact date and more
  • View 5 year snapshot of your customer and supplier history
  • Contact log can be password-protected to prevent others from seeing sensitive information
  • Card Lists can be synchronised with Microsoft Outlook


To Do List

  • Access a single location to view all money owed and due, recurring transactions, contact and inventory alerts, and expiring discounts
  • Set your company file preferences to show  your To Do List upon opening



  • Access over 150 up-to-date reports to quickly assess and analyse your business performance
  • View reports according to cash or accrual based accounting
  • Customize and save reports
  • Connects with Microsoft® Office (Excel, Word)
  • Send reports to Microsoft Excel for 'what if' analysis, then save for future use
  • MYOB creates PDF-format documents of all reports, and forms, for transfer to an email program for review before emailing.
  • Send document and reports via email, and fax
  • View reports on-screen the way you like
  • View cash and/or accrual reports for Profit & Loss, Balance Sheet and  CashFlow Statement
  • Drill down from Balance Sheet and Profit & Loss report to the Find Transaction wondow



  • Audit trail of transactional changes (delete, modify) and system changes (add, delete, modify)
  • Unlimited number of password-protected user profiles
  • Control which screens, reports, and menu items each user has access to.
  • Locks the previous month transactions


Multi Currency (applicable for MYOB Premier version only

  • Allow user to make general journal entries, write cheques, make deposits, accept customer payments, purchase goods and services, invoice sales and services, track accounts receivable, and make payments to suppliers, all in foreign currencies
  • Calculates realized exchange gains/losses automatically upon payment
  • Calculates unrealized exchange gains/losses on unpaid bills/invoices
  • Reconcile foreign banking accounts
  • Reconcile local banking accounts containing foreign currency transactions
  • Prints invoices in foreign currency

Time Billing (applicable for MYOB Premier version only)

  • Tracks time spent with your clients or on a project
  • 3 billing rates per activity : employee, client or activity
  • Track chargeable and non- chargeable time
  • Track hourly or non hourly services
  • Bill by hours, increments of hours or by unit
  • Import/export time billing information
  • Track write-offs and carryovers
  • Include time and materials on a single invoice
  • Choose to invoice a customer for a full or partial amount, or write off time that can’t be billed.


GST ready


  • Allows user to create new tax codes, and link to ‘GST collected’ or ‘GST paid’ accounts
  • GST ready invoices
  • Link tax code to every stock item, and let the system calculate the appropriate tax amounts
  • Use Microsoft Excel to help you to update the tax codes and selling price, and easily import the data back to MYOB
  • Set a default tax code for your customer and supplier
  • Report all transactions with both default and the user-entered tax code for the transactions
  • Filter the Tax Code Exception reports to view transactions where the default tax code has been changed, or where no tax code have been entered
  • Enter an unlimited number of sales tax codes, including duties, on the invoice
  • Report on either a cash or accrual basis, and work with both GST inclusive or exclusive prices



To view the screenshots of the MYOB Accounting software, click here

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