MYOB's biggest changes in 2021
MYOB has some momentous changes for 2021. One of their biggest investments has been focused on cloud computing, offering users what many have been asking for; online accessibility. As of this year, MYOB has a new online feature! They have now moved their legacy product, Account Right files, online. This means that you can now access your files anywhere online using a web browser. They have also enabled access and view from any device with a browser such as your computer (PC or Mac), tablet - or smartphone! That's a big tick for many current and new customers needing on-the-go access.
You now have the ability to send an invoice from the site using your smartphone or tablet, as well as bank reconciliation anytime, anywhere. The appointed director is also permitted to view business performance while waiting in a queue. This is a huge move and benefit for many small and medium business owners needing to invoice customers without having immediate access to their desk.
Different look, same data:
When logging into the new browser version of MYOB, the first thing you will notice is the new look. MYOB has refreshed their layout from the old command centre look to a new dashboard that's fresh, easy to read, and navigate. They also now provide the visitor with a good financial snapshot of the business performance from a glance. Great for keeping those finances at the top of your mind.
You'll find across the top of the screen there are various click-down menus corresponding to command centres in Account Right:
As you can see, the look has adapted a lot from the old Account Right Command Centres. MYOB is working on showcasing the exact same information currently in your Account Right Software on this new browser interface. This further enhances the user experience and creates a consistent layout for a visit across whichever access you choose to use, be it through your software or online.
As this is an evolving update to MYOB, not all functionalities are available as of yet, but MYOB is working on rolling out all features over time.
A bit concerned? Not to worry, the team here at Gecko Bookkeeping will be switching between the browser and Account Right Live software to make sure all the information is kept up to date. We recommend doing the same thing.
NOTE: These are some of the features that are still on their way
Sales and purchase orders
Professional, Miscellaneous, and Time Billings layouts
If you find yourself in the browser version of MYOB perchance trying to use one of the above features such as opening a professional layout invoice, MYOB will send you a prompt message to notify you that the feature is either read-only or not yet available. You can still use the feature in your Account Right Software.
Another big update is MYOB's change to setup information which has now relocated.
In order to find these details, you'll need to click on the name of the business on the top right-hand side of your browser or program and select the drop-down menu to access items such as your serial number, business settings, preferences, payroll settings, users and more.
If you're still using a more dated version of MYOB, you'll find moving to the cloud and the Account Right Live (Browser) will be a game-changer! You can now connect your bank feed directly into the software and save valuable hours on data entry work. You will also have the ability to send an invoice within a few short clicks and a have record of the invoice sent almost immediately. As well as Single Touch Payroll linked directly via the software, your super payments can also now be processed straight from the software as well.
We're not quite done yet! MYOB has also added a new feature called "MYOB Team".
MYOB Team is a time-management tool that enables employees to view their rosters, clock on and off, and submit their timesheets, all with just a quick tap. You can say goodbye to paper timesheets or manually logging hours in a spreadsheet. Your employees can now also submit a request to leave and view their payslips and rosters, all from their Android or IOS Device. The best thing about this feature is that it's included in your MYOB subscription! Better efficiency and free of charge? Tick tick!
Depending on your business needs, your employees can use MYOB Team:
On their mobile phones to clock on and off, submit timesheets and view rosters or
On an on-premises iPad tablet kiosk to clock on and off.
There is also an admin portal to manage all of your team easily and efficiently - plus, because MYOB team syncs seamlessly to your MYOB payroll processing, you'll be saving a lot of admin time.
Below are some useful links to get you started with MYOB Team:
Getting Started with MYOB Team
Tracking your time (great for employees)
Using the MYOB Team Admin Portal
Lastly, MYOB is getting their software ready to enable you to Lodge your BAS online, directly with the ATO. They have updated their browser reports to provide an easy-to-read option that can be viewed on either a Cash or Accrual Basis. The P & L and Balance sheet can also be reported on both bases to make reconciliation much easier.
If you do already have a great Bookkeeper (wink wink) or Accountant they may already be taking care of that for you - but for those that love DIY tax time, this will be a great new time saver.
A lot of big, fantastic changes have been established or are already underway for our MYOB fans! These adaptations to us, prove that MYOB still very much plans to keep its claim as one of the accounting software giants - both online and offline.
If you're feeling a little overwhelmed by changing over or not quite sure of how the changes within MYOB could affect or benefit you - it's always a great idea to find some expert advice. Try reaching out to your bookkeeper, accountant, mentor, or why not call our friendly Gecko Bookkeeping team! Remember that challenging changes only need to be as hard as you make them!