Frustrations With MYOB

by | Jun 11, 2015

Over 1 million businesses in Australia and New Zealand use some form of MYOB software, easily making it one of the most popular accounting systems for businesses of all sizes. Just because a system is popular, or widely adopted, however, doesn’t mean that it’s easy to use. Businesses that use MYOB frequently encounter challenges that affect their ability to keep up with their finances and record keeping requirements.

Since so many businesses have been using MYOB for years, and even decades, there is a temptation to continue to try to work within this system. After all, recent MYOB upgrades over the past few years have attempted to offer better reporting options, and can now be cloud based. The biggest feature that MYOB has going for it is that the upgrades are usually compatible with previous versions and the upgrades to the interface are so similar to those used in the past that there is a short learning curve to master the newer addition. All of these features come in handy if you have several years of existing sales data and other financial documents that you wish to import into a new system.

Despite these benefits, MYOB is also well known for its slow operation and processing times, and frequent time-outs when users are not actually working in the cloud. The system moves so slowly that it makes it impossible to handle moderate to high volumes of data processing and users are unable to get a clear view that provides a comprehensive picture of what’s going on across all of their business units.

Even with the newer reports that MYOB offers, customisation is extremely limited. An example of this is the inability to create a new customer in the invoice field, as you can only create new customers from the card file. Users also have difficulty adding new product lines, sales channels and locations and there also isn’t an easy way to access the data so that customer demographics are collected and filtered into meaningful data that can be used for sales campaigns and other strategic planning. These issues not only lead to the need to frequently back up and re-enter data, they can also lead to the loss of sales due to customer frustration.

Users of MYOB also have to continue to pay frequent subscription fees to be able to continue to upgrade their tax tables. These upgrades not only add to the cost to maintain the system, but the system is actually “down” during the upgrade process, and time is still practically equal to money in the business world. In addition to the cost and downtimes for upgrades, users have the additional worry and hassle of having to frequently backup the information for fear of “losing it” when the servers go down or time out, and there are security concerns surrounding malware potentially corrupting the data as well.

Switching from one accounting system to another is not a decision that should be made lightly or haphazardly. As you do your research into what accounting system might be best for your business, it’s important to keep in mind that there are costs associated with operating an accounting system that go far beyond the actual price tag of your software and its upgrades. If you’ve found that your MYOB based system spends a lot of time “down” or spinning its wheels as it attempts to make calculations correctly and it’s affecting your ability to make accurate sales projections and plans as well as your ability to provide accurate and exceptional service to your clients, it may well be worth your time, and save you money in the long run, to consider a change.

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"Sophie is so professional – careful, attentive and punctual – she has made managing my accounts not just easier, but a whole lot less stressful"
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2017-10-13T09:21:50+00:00

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Sophie has been a tremendous support and guiding light for my business. I have continually succeeded when acting on her advice and by using her services. Her products are fantastic and her ideas and accuracy is out of this world. I would never hesitate to recommend Sophie’s services and I would invite anyone to contact me for a referral.
Sophie has the spirit of the Entrepreneurial Business Owner! Whether she is running a successful single family website, creating a product for small business owners or running her own bookkeeping agency she is always right on track as to what small business needs. If you want to speak to someone who not only knows what business owners are going through-she also does something about it- then don’t miss out, connect with Sophie! She is someone who can not only think outside the square- she has true strategic thinking; which is often spoken about but is rarely truly placed into action.

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Councillor at Warringah Council

2017-10-13T09:25:16+00:00

Sue Heins
Councillor at Warringah Council

Sophie has the spirit of the Entrepreneurial Business Owner! Whether she is running a successful single family website, creating a product for small business owners or running her own bookkeeping agency she is always right on track as to what small business needs. If you want to speak to someone who not only knows what business owners are going through-she also does something about it- then don’t miss out, connect with Sophie! She is someone who can not only think outside the square- she has true strategic thinking; which is often spoken about but is rarely truly placed into action.
Sophie is an amazing business woman. She is able to take the complexities of business and break them into manageable pieces for small and home based business owners to work with. She’s clever, creative, supportive and very generous. She’s the reason that so many small businesses are doing so well. If yours is a small or home based business then Sophie is someone you need to know.

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Writer and Content Creator, Clever Streak

2017-10-13T09:26:35+00:00

Anne Maybus
Writer and Content Creator, Clever Streak

Sophie is an amazing business woman. She is able to take the complexities of business and break them into manageable pieces for small and home based business owners to work with. She’s clever, creative, supportive and very generous. She’s the reason that so many small businesses are doing so well. If yours is a small or home based business then Sophie is someone you need to know.
Sophie is efficient, direct and gets the job done. She responds quickly, keeps me updated and has a way of simplifying things and making my life easier. She is all about efficiency and that’s what makes it great to work with her, I highly recommend her to anyone who wants someone to efficiently look after their books and she is great value for money too.

Adam Dobson
Strategic Resourcing Manager

2017-10-13T09:28:24+00:00

Adam Dobson
Strategic Resourcing Manager

Sophie is efficient, direct and gets the job done. She responds quickly, keeps me updated and has a way of simplifying things and making my life easier. She is all about efficiency and that’s what makes it great to work with her, I highly recommend her to anyone who wants someone to efficiently look after their books and she is great value for money too.
I’d been stalking Sophie for a while since I saw some of the great work she did at Ideas Book. What she’s up to at the SOHO Agency is equally impressive and I’m delighted to have someone working in this space who I feel so confident referring onto others. Keep being brilliant Sophie!

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Founder and Director, Flying Solo

2017-10-13T09:30:45+00:00

Robert Gerrish
Founder and Director, Flying Solo

I’d been stalking Sophie for a while since I saw some of the great work she did at Ideas Book. What she’s up to at the SOHO Agency is equally impressive and I’m delighted to have someone working in this space who I feel so confident referring onto others. Keep being brilliant Sophie!
Sophie is an incredibly savvy business owner, for whom I have great respect. She has always been very clear and detailed in her instructions, is always very focused on her business objectives, and displays a business model that you can aspire to as a small business owner. I have no hesitation is recommending her work at The Accounts Studio.

Kristy Smith
Director, Virtual Elves Outsourcing Solutions

2017-10-13T09:30:59+00:00

Kristy Smith
Director, Virtual Elves Outsourcing Solutions

Sophie is an incredibly savvy business owner, for whom I have great respect. She has always been very clear and detailed in her instructions, is always very focused on her business objectives, and displays a business model that you can aspire to as a small business owner. I have no hesitation is recommending her work at The Accounts Studio.
I have had many a chat with Sophie on the networking circuit. Sophie has a strong profile and reputation within business circles and I wouldn’t hesitate to recommend her to any soho needing direction, support and encouragement. I have a passion for educating small business myself and wholeheartedly support Sophie in her endeavour to actively reduce costs for those who may be unintentionally making uninformed decisions relating to business management. Many business owners are unnecessarily outsourcing tasks which are misdirected or can be achieved inhouse.

Gai Hook
Virtual Sales Strategy

2017-10-13T09:32:05+00:00

Gai Hook
Virtual Sales Strategy

I have had many a chat with Sophie on the networking circuit. Sophie has a strong profile and reputation within business circles and I wouldn’t hesitate to recommend her to any soho needing direction, support and encouragement. I have a passion for educating small business myself and wholeheartedly support Sophie in her endeavour to actively reduce costs for those who may be unintentionally making uninformed decisions relating to business management. Many business owners are unnecessarily outsourcing tasks which are misdirected or can be achieved inhouse.
I’ve worked with Sophie as a contributor to Confessions of a Mumpreneur – a fantastic book that she dreamt up, edited and produced. Apart from producing fabulous books that help so many others realise their entrepreneurial dreams, Sophie is an astute business person who is making her mark on her own terms. Watch this space – I’m sure we’ll see and hear a lot more from Sophie Andrews in the years to come.

Jennifer Dalitz
Gender Diversity expert, Career Coach, Award winning blogger on women, work & leadership @ www.TheSheEOBlog.com

2017-10-13T09:50:01+00:00

Jennifer Dalitz
Gender Diversity expert, Career Coach, Award winning blogger on women, work & leadership @ www.TheSheEOBlog.com

I’ve worked with Sophie as a contributor to Confessions of a Mumpreneur – a fantastic book that she dreamt up, edited and produced. Apart from producing fabulous books that help so many others realise their entrepreneurial dreams, Sophie is an astute business person who is making her mark on her own terms. Watch this space – I’m sure we’ll see and hear a lot more from Sophie Andrews in the years to come.