MYOB LiveAccounts Now Available

MYOB LiveAccounts Now Available

Bringing business accounts and banking together online

MYOB, New Zealand’s leading provider of business and accounting management solutions, has released its latest online solution, MYOB LiveAccounts. Developed specifically to suit the needs of a smaller business, MYOB LiveAccounts brings business accounts and banking together – online. And at just $25 incl. GST per month, this new online accounting solution is set to deliver great value to sole traders, start ups and smaller businesses across New Zealand.

MYOB LiveAccounts is a right-sized business tool designed to make managing the books easier for start ups, sole traders and smaller businesses. With MYOB LiveAccounts it’s easy to raise invoices, keep track of expenses and manage GST. To lift the burden of data entry and bank reconciliation MYOB LiveAccounts automatically imports transactions from a business’ bank account and credit cards, and is compatible with over 30 business bank accounts – including credit cards – from over 25 leading banks and financial institutions.

For a monthly fee, MYOB LiveAccounts provides unlimited access to accounts and invoices, for any number of users within a business. MYOB LiveAccounts is incredibly easy to use, and it’s always available – anywhere and anytime – all you need is a broadband internet connection.

MYOB chief executive officer Tim Reed says MYOB LiveAccounts is designed to be simple, effective and affordable for New Zealand sole traders and start up businesses.

“We know there are over 325,000 sole traders in New Zealand, many of whom do battle with paper and/or Excel for every GST return. Accounting software to-date has not appealed to them, possibly due to misperceptions about the 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.”

“In developing MYOB LiveAccounts we’ve not only focused on ease of use but also affordability, pricing the solution at a level that will put an effective accounting system in reach of even the smallest Kiwi business,” explains Mr Reed. “In doing so, we’ve worked extensively with local business owners to design a solution that offers just what they need, without out any of the complexity of features and processes they don’t require”.

MYOB LiveAccounts has been extensively tested with over 1300 accounts setup by businesses and accountants during the Beta testing process and interest in the solution is strong.

“The feedback we received from businesses during the BETA testing process has been great,” explains Mr Reed. “MYOB LiveAccounts has intuitive design and innovative workflows that make it really easy to use – especially for non-financial experts.”

Some of the key features of MYOB LiveAccounts include:
• Accounts available for use anywhere and anytime you can access the internet
• Easy to use – it’s focused on keeping the accounting simple – and making life easier
• Linked bank accounts so transactions are securely transferred each day (connected to over 25 financial institutions in New Zealand)
• No limits on use, users or in technical support (online support notes, email and live chat)
• Business owners can try the software for 30 days without obligation and free-of-charge.

Tim Reed says MYOB expects demand for the new solution to be strong, particularly given the value it offers smaller businesses.

MYOB LiveAccounts is also a fantastic development for accountants and bookkeepers. Working securely online, they can access their clients’ accounts directly – working more closely with businesses, providing timely advice and information and ensuring their clients’ information is always accurate and up-to-date.

MYOB will be investing in the ongoing development of MYOB LiveAccounts, with a number of feature enhancements planned for the next year. In addition to this, during the next 3 years, MYOB has committed over NZD$75 million to invest in product development for their range of solutions, including MYOB LiveAccounts.

“MYOB LiveAccounts is perfect for some businesses, however not every business wants an online solution and others require more functionality. As MYOB has helped over 1 million businesses in New Zealand and Australia, our focus is on providing choice - so businesses can run their operations in the way that best suits them,” says Mr Reed. “That’s why we provide more than 50 different products, including the MYOB AccountRight range, as well as a range of online products already in use by over 80,000 customers.”

“Our mission is to make business life easier for Kiwi businesses – to help them work more effectively while getting the rewards they deserve. With incredibly accessible and easy to use solutions like MYOB LiveAccounts, we believe we can make that possible for more hard-working New Zealand business owners,” says Mr Reed.

MYOB LiveAccounts is available now for businesses and accountants at liveaccounts.myob.co.nz Business owners can trial the software for free for 30 days.

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