Mobile-friendly MYOB accounting software enables accountants to better service their SME clients. Brought to you by MYOB.

Released in early 2020, the upgraded MYOB Essentials has the kind of turbo-charged functionality and configurability designed to make life easier for accountants.

“We went back to the drawing board for the new version,” explains Hayden Williams, MYOB’s Senior Product Manager – SME Product Marketing. “MYOB Essentials has taken huge steps forward in functionality, ease of use, support for power users and device compatibility.

“We’ve made the reporting platform much more powerful and made it possible for practices to customise reports,” he says. 

“Some practices with 100 clients might have to do the same piece of work 100 times. Now with MYOB Essentials, a practice can create a template that can be used for all its clients. And, if one client has multiple businesses, the same template can be used for all their different businesses.”

Perfectly suited to a challenging environment 

While MYOB Essentials was designed pre-COVID-19, it’s turned out to be well-suited to turbulent times.

“Configurability and intelligibility are always useful attributes,” says Williams. “But at a time when accountants need to keep a close eye on their clients’ cash-flow position, they are a godsend.”

MYOB Essentials now allows accountants to review month-on-month and year-on-year cash-flow comparisons and see how a business is performing in percentage and dollar terms. If the client has multiple businesses, MYOB Essentials can generate a consolidated picture of cash flow from all the businesses.

“The upgraded Essentials makes generating reports a lot quicker and easier; there’s much less need to manually enter figures into spreadsheets if you need to do something more advanced,” explains Williams.

“The upgraded Essentials makes generating reports a lot quicker and easier.”Hayden Williams, MYOB

Essential futureproofing

Business advice often involves suggesting strategies to reduce costs and increase revenue. The new and improved MYOB Essentials allows those accountants acting as business advisers to effortlessly drill down into expenses and income streams.

“That makes it easier to see what costs can be cut and identify new business opportunities,” Williams points out. 

As impressive as MYOB Essentials has become, Williams says future iterations will be even bigger crowd-pleasers.

“MYOB is committed to upgrading Essentials much more regularly to ensure it remains the best business management solution in the market,” he says.

“Essentials now offers an enormous amount of value to accountants. It will offer even more in the months and years to come,” explains Williams.

“I’d encourage accountants to look into how the reimagined Essentials can save them time, help them grow their practice and help them better serve their clients.”