MYOB

MYOB simplifies business accounting, managing finances, payroll, invoicing, and tax compliance efficiently.

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  • Overview
  • Features
  • Pricing
  • Pros
  • Cons
  • Reviews

MYOB Overview

  • Updated December 12, 2025

MYOB (Mind Your Own Business) is a leading business accounting software designed for small to medium-sized enterprises. It streamlines financial management tasks, including invoicing, payroll, expense tracking, and tax compliance.

With user-friendly tools, MYOB offers real-time insights into business performance, automates bookkeeping processes, and supports integration with banking and other platforms, enabling efficient management of cash flow, inventory, and reporting for better decision-making.

Key Features

  • Invoicing: Create, send, and track unlimited professional invoices and quotes, customizable for branding.
  • Expense Tracking: Capture receipts via mobile app, categorize expenses, and monitor spending in real-time.
  • Payroll Management: Automate payroll with Single Touch Payroll, handle superannuation, and ensure ATO compliance.
  • GST and BAS Lodgement: Calculate GST accurately and lodge Business Activity Statements directly with the ATO.
  • Inventory Management: Track stock levels, manage multiple warehouses, and monitor cost of goods sold.
  • Bank Feeds: Connect bank accounts for automatic transaction imports and simplified reconciliation.
  • Financial Reporting: Generate customizable reports like profit and loss, balance sheets, and cash flow statements.
  • Job Costing: Track project expenses, labor costs, and profitability for accurate job management.
  • Mobile App: Access invoicing, expense tracking, and Tap to Pay features on iOS and Android devices.
  • Multi-Currency Support: Handle transactions in multiple currencies, available in higher-tier plans like AccountRight Premier.
  • Timesheets: Record employee hours and integrate with payroll for accurate wage calculations.
  • Payment Integration: Accept payments via Tap to Pay or integrated payment gateways for faster cash flow.

Price

Plan Name Price (AUD / Offer) Key Features & Notes
Solo by MYOB $12/month for the first 12 months (then standard rate) Mobile-first app for sole operators—features invoicing, expense tracking, payments on the go, GST.
Business Lite $61.20/year (80% off for first year; then $306/year) Cloud-based, for sole traders/small businesses (up to 2 employees). Includes GST/BAS, bank feeds, receipts, payroll for up to 2, inventory, reporting.
Business Pro (Pricing not provided on image; see flyout or contact) Additional payroll, advanced features; inferred but not listed in snapshot.
AccountRight Plus $75/month for first 3 months (then $150/month) Desktop/cloud hybrid. Offers unlimited payroll, inventory, time billing, jobs, advanced reporting, priority support.
Payroll Only $9/month (inc. GST) for 24 months offer Standalone payroll module for businesses needing payroll without full accounting suite (up to 4 employees).

Check pricing details: https://www.myob.com/au/pricing#accounting

Pros

Competitor Pros of MYOB
Xero MYOB gives strong payroll support, including single-touch payroll and options for unlimited employees. That makes it better than Xero for businesses needing solid payroll. MYOB also allows unlimited users and offers both cloud and desktop-access options.
QuickBooks MYOB offers deeply integrated inventory tracking and local compliance features for Australia and New Zealand. It has built-in payroll and auditing tools, which QuickBooks sometimes treats as add-ons.
Zoho Books MYOB brings richer, traditional accounting workflows—things like advanced inventory control and payroll—that surpass Zoho’s main strengths.
FreshBooks MYOB is more powerful for businesses with complex needs such as inventory, payroll, and reporting. FreshBooks is simpler, but MYOB offers a fuller feature set.
Sage Business Cloud MYOB has stronger local market tailoring for Australia/New Zealand, plus a blend of cloud and desktop flexibility that Sage doesn’t offer.

Cons

Competitor Cons of MYOB
Xero Xero feels more modern and easier to use. It features smoother automation, better user interface, and seamless bank feed automation. Users often prefer collaborating in real time on Xero.
QuickBooks QuickBooks offers stronger app integrations, more frequent updates, and a more intuitive UI. It tends to feel more polished and has more global reach.
Zoho Books Zoho Books often comes at a lower price and is easier to scale. It supports automation and simplifies workflows. MYOB can feel more expensive and more complex.
FreshBooks FreshBooks is easier for freelancers and micro-businesses. MYOB is feature-rich, but that complexity may be overkill for simple needs and harder to learn.
Sage Business Cloud Sage feels more utilitarian and less intuitive. MYOB offers cleaner usability, especially with its recent rebranding to modernize its interface and customer experience.

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