MYOB, has released its latest online accounting software solution, MYOB LiveAccounts, for Australian businesses that need to raise invoices, track expenses and manage income.
MYOB LiveAccounts integrates your business banking and accounting information online and was developed specifically to suit the needs of sole traders, start ups and micro to small businesses in Australia and New Zealand. Rather than force business to buy an accounting software package outright for a large upfront fee, MYOB LiveAccounts is hosted online for a subscription of $25 per month including GST. This is important from a cash flow and investment perspective for smaller businesses and start ups where funds to sink into an extensive accounting software package are tight.
MYOB is pitching LiveAccounts as not only a way to to raise invoices, track expenses and manage GST, but also is positioning the online accounting platform as a way to minimise time spent on data entry and bank reconciliation. MYOB LiveAccounts automatically imports transactions from a business’ bank account and credit cards and allocates records against outstanding invoices and expense accounts where possible. MYOB LiveAccounts can import data from more than 100 business bank accounts from over 75 banks and financial institutions in Australia and New Zealand.
MYOB chief executive officer Tim Reed says MYOB LiveAccounts is designed to be simple, effective and affordable for Australian sole traders and start up businesses.
“We know there are over 1 million sole traders in Australia, many of whom do battle with paper and/or Excel every BAS. Accounting software to‐date has not appealed to them, possibly due to misperceptions about effort required for data‐entry and complexity.”
“MYOB LiveAccounts provides a great solution for this group. It’s a new paradigm – it’s not only easy to use accounting software ― it’s like having a virtual assistant doing much of the chore of data entry.” explains Mr Reed.
MYOB LiveAccounts has been through an ‘extensive’ beta testing program, with over 1,300 accounts set up by businesses and accountants during the almost year long beta testing program.
MYOB is offering a free 30 day trial of MYOB LiveAccounts to interested business owners, for more details visit liveaccounts.myob.com.au
MYOB LiveAccounts Screenshots: