Frequently Asked Questions
Got questions about MYOB Advanced? Find the answer below.
For more information call us on 1300 045 046 or email info@leveragetech.com.au
Yes, MYOB Advanced is a cloud ERP solution and is not available on-premise. It’s built specifically for the cloud on modern and flexible architecture. Running your ERP system in the cloud gives you all the convenience of a subscription-based SaaS, combined with a full-featured suite of functionality that you can customise to your specific needs and scale as needed.
MYOB Advanced is a logical next step for businesses using AccountRight that want to embrace an enterprise solution. However, it is not an upgrade. MYOB Advanced requires implementation, which can take several months, in order to tailor the new solution for your business and migrate your data from MYOB AccountRight—we help make this process easier.
Implementation projects vary in complexity— which affects the time and effort required to tailor your new solution. A well-managed implementation is critical to ensuring your new ERP solution delivers genuine business value. Key steps include: scoping, system configuration, setting-up forms, data conversion and testing, user acceptance testing and training, and final system checks before go-live.
Your convenient monthly subscription gives you access to the powerful MYOB Advanced platform in the cloud plus future enhancements, patches, and updated versions. Slash your IT management costs—MYOB takes care of Australian-based cloud hosting, security, and data protection, and automatically backs-up your data to the cloud.
There is a CRM suite within MYOB Advanced that allows for integrated marketing, opportunity and pipeline reporting, service and support automation, and the ability for customers to self-serve via a self-service portal.
There is extensive functionality within the MYOB Advanced finance suite to cater for reporting on fixed assets. MYOB Advanced’s fixed asset functionality can cater to multiple asset types, multiple depreciation books, multiple reporting options and multiple asset management techniques.
There are certified MYOB Advanced add-on products (e.g. EzyCollect) which can perform AR automation. Integrating these add-ons with your instance of MYOB Advanced is best co-ordinated via your accredited MYOB Advanced partner.
There are certified MYOB Advanced add-on products (e.g. expensemanager, Dataline) which can perform AP automation. Integrating these add-ons with your instance of MYOB Advanced is best co-ordinated via your accredited MYOB Advanced partner.
BankFeeds are now available within MYOB Advanced (as of April 2019). Customers will be able to subscribe to BankFeeds from within their instance of MYOB Advanced.
There is an inbuilt Wiki within MYOB Advanced which users can access to get assistance with basic queries. There are also user guide videos which have been posted on our website. Beyond that, our MYOB Advanced consultants can assist with any product related enquiries. Call 1300 045 046 or email info@leveragetech.com.au.
MYOB Advanced has been developed to be compliant with STP legislation. For more information, read this article.
The best way to determine which is the best edition of MYOB Advanced for your business is to speak to one of our qualified MYOB Advanced consultants. After a brief discussion on what business outcomes you’re looking to achieve by installing an ERP system, they will be able to advise on what edition of MYOB Advanced is best for your business. For more information call us on 1300 045 046 or email info@leveragetech.com.au.
There are three editions of MYOB Advanced — also known as user licence types. The three editions are Standard, Plus and Enterprise. Standard is the least expensive licence type and provides access to essential functionality that many SMEs need. More sophisticated features are unlocked with Plus and Enterprise editions respectively. Compare inclusions in each edition.
The key components of MYOB Advanced are:
- Financial Management suite
- Inventory and Distribution suite
- Customer Management suite
- Project Accounting suite
- Payroll suite
The functionality of MYOB Advanced can be further extended via its certified add-on solutions.
Two-factor Authentication (2FA) is a simple addition to the sign-in process. In addition to the username and password, a one-time code is sent to the user’s smartphone.
Read more about 2FA in this article “Two-factor authentication in MYOB Advanced: What you need to know“
MYOB Advanced supports complex password rules to ensure that users adhere to its customers’ enterprise password policies. MYOB Advanced customers can define options such as length and complexity and when the password expires. Several unsuccessful attempts can lead to account lockout and customers can determine how long before users can attempt to login again.
The MYOB Advanced service has been designed with security being top of mind. The MYOB infrastructure is housed in Amazon Web Services Data Centres where great attention has been given to both the physical security of the data centre and the network security.
MYOB is committed to protecting their clients’ data, which is why it is stored across multiple devices in multiple availability zones. In the event of an issue, failover of one or more elements to a secondary zone will occur automatically, and in most cases transparently to end users.
To restore a backup, a snapshot can be uploaded back into your MYOB Advanced database.
Whilst MYOB Advanced is a highly redundant and secure service, you also have the option of “snapshotting” your data, downloading it and storing it wherever you choose.
MYOB Advanced data is replicated across multiple availability zones. MYOB Advanced data is also backed up nightly.
For more information read “The MYOB Advanced Architecture explained (Security, Data and DR)“
The database size for MYOB Advanced will depend on which edition of the software you purchase. The Standard edition has a 20GB database, the Plus edition a 50GB database and the Enterprise edition a 100GB database.
Yes, getting a sandbox environment for MYOB Advanced is possible. for more information contact us on 1300 045 046.
MYOB Advanced can be accessed via any major web browser (e.g. Firefox, Chrome, Safari, Microsoft Edge).
MYOB Advanced is hosted in an Amazon Web Services (AWS) Sydney Data Centre.
The best way to get an initial consultation is to call us on 1300 045 046 and say that you would like to speak to an MYOB Advanced consultant. Alternatively, you can email info@leveragetech.com.au or submit this form.
- The add-ons available for MYOB Advanced can be viewed on the official MYOB website. This will also indicate all certified add-ons.
- See our list of Top 7 Add-On’s for MYOB Advanced here.
The MYOB Advanced API helps external systems and platforms to connect, integrate and share data with MYOB Advanced. Developers can use the MYOB Advanced API to access the functionalities and data managed by MYOB Advanced.
There are multiple implementation methodologies that can be used to implement an ERP solution. Your choice of implementation methodology will depend on several factors – the size of your company, your functional requirements, internal resource capability and time availability are a few factors to consider.
As MYOB Advanced is a cloud-based ERP system, the majority of the installation work can be done remotely. However, depending on the installation and project certain tasks are done onsite.
Both MYOB and Leverage Technologies are Australian based. All data is hosted in Australia and all support and services are ANZ based.
MYOB Advanced has a highly scalable architecture. For most Australian and New Zealand businesses, it is unlikely that they will outgrow MYOB Advanced during their business lifetimes. Should a business’s functional requirements no longer be able to be satisfied by MYOB Advanced, it is easy to export data out of MYOB Advanced so that it can be incorporated into a new system.
MYOB Advanced support is provided firstly by their accredited MYOB Advanced partner network. These partners, in turn, are backed up by MYOB’s world-class support centre for any further escalations, if need be. We are an accredited MYOB Advanced support and implementation partner.
MYOB Advanced is paid for monthly via direct debit on a subscription basis. The monthly fee is calculated based on the number of users and licence type/edition.
For more information: Visit the Pricing page, or Read our blog explaining pricing.
Both master data like customer files and open transactions are brought into MYOB Advanced through best practice import templates. Best practice tools are used to export and import such data into MYOB Advanced to ensure data validation takes place. It is recommended that data be “cleaned up” prior to conducting the data migration. Our team of experts can assist with data migration from most accounting and or legacy ERP systems.
The cost of implementing an ERP system will be determined by the complexity of the requirements of the company implementing the system. As a rough rule-of-thumb, MYOB Advanced implementations will start from $20K.
For more information: Visit the Pricing page, Read our blog explaining pricing, Discover our implementation approach.
The length of the implementation of an ERP system will be determined by the complexity of the requirements of the company implementing the system; but as a rough rule-of-thumb, an MYOB Advanced implementation would take between 2-5 months. Learn more about our implementation methodology here.
MYOB AccountRight is MYOB’s flagship small business accounting product. Its primary function is as an accounting package. MYOB Advanced is an integrated whole-of-business management system (also known as an ERP system) which has Finance, CRM, Inventory, Distribution, Project Accounting and Payroll as part of its core functionality. MYOB Advanced is intended for larger businesses who have outgrown MYOB AccountRight.
Xero is a cloud-based accounting system that has been developed for small businesses. Its functionality can be extended somewhat with the addition of add-ons. MYOB Advanced is a cloud-based ERP system developed for medium-sized companies with functionality that extends well beyond just the finance function.
Both Netsuite and MYOB Advanced are cloud-based ERP systems. MYOB Advanced offers more flexibility with respect to its licensing, pricing & support compared to Netsuite, with an overall lower Total Cost of Ownership (TCO).
MYOB Greentree is a mature ERP product primarily deployed as an on-premise installation. It is best suited to larger businesses with complex functional requirements. MYOB Advanced is a cloud-based ERP system ideally suited to medium-sized companies with complex GL requirements and/or project accounting requirements.
MYOB Advanced vs MYOB Exo – The primary difference between MYOB Exo and MYOB Advanced is that Exo is an on-premise ERP system whilst MYOB Advanced is a cloud-based ERP system. In terms of their functional footprints, MYOB Exo is best suited to small-to-medium warehousing and distribution businesses and companies that require job costing, whilst MYOB Advanced is best suited to bigger organisations with complex GL requirements and or project work.
There are three ERP products within the MYOB Enterprise solutions portfolio: MYOB Exo, MYOB Greentree and MYOB Advanced. Exo and Greentree are primarily on-premise ERP installations whilst MYOB Advanced is a purely cloud-based ERP.
There are two types of demonstration: a generic demo which will give you an idea of the look and feel of MYOB Advanced and a high-level overview of its functionality; and a customised demo where we demonstrate those aspects of the system that are pertinent to your business. A free customised demo is a standard part of our consultation process. To get a customised MYOB Advanced demo, please get in touch using this form and one of our consultants will reply shortly.
MYOB Advanced is for Australian and New Zealand businesses whose needs have become too complex to be handled by small business accounting packages (such as Xero, MYOB AccountRight or Quickbooks). Examples of increased complexity could include the need for more detailed reporting; the need for better inventory handling procedures; the need to account for multiple offices; and the need to deal with foreign currencies.
For more information, check our Webinar “Rightsizing your SMB accounting software – A business guide from Xero is too small to Netsuite is too expensive“
A quick chat with one of our experienced ERP consultants will allow you to determine if:
- Your business should consider installing an ERP system; and
- Whether MYOB Advanced is the best fit for your business from the available ERP options.
Different ERP systems have different strengths so there first needs to be an understanding of what business outcomes you’re looking to achieve before a recommendation can be made as to which ERP system is the best fit for your business.
MYOB Advanced is an ERP solution that is based upon the Acumatica ERP Platform. MYOB Advanced is the Acumatica ERP system that has been modified for Australian and New Zealand business conditions. Acumatica cannot be purchased in Australia or New Zealand; only MYOB Advanced. For more background information, read this article.
Leverage Technologies are an award-winning provider of ERP Solutions to Australian mid-market firms. They sell and support the Sage Enterprise Management, SAP Business One, SAP Business ByDesign and MYOB Advanced ERP solutions. For more information visit the corporate website.
MYOB Advanced is a new cloud-based ERP Solution that has been developed for Australian and New Zealand businesses. It is used by companies whose requirements have become too complex for simple accounting packages. The system gives small and medium-sized businesses access to a variety of modules to manage the day to day operations (Finance, Distribution, Operations, Payroll,…) plus an ecosystem of add-ons and integrations to manage your specific needs.
Does your business size matter when using MYOB Advanced?
When it comes to choosing an Enterprise Resource Planning or ERP solution, many businesses find themselves asking the question is my business to big or too small for the solution I am looking at.
The answer usually doesn’t relate to the size of your business and is more related to the complexity of the business processes you are looking to automate with the solution.
However, there are a number of key issues that you do need to consider that are tied to the size of your business and your companies ability to digest a new ERP solution.
A good place to start is by checking our Webinar “Rightsizing your SMB accounting software – From Xero is too Small to Netsuite is too Expensive”
MYOB Advanced and MYOB Exo are both Enterprise Resource Planning applications designed to meet the needs of small and midsize enterprises.
In many respects, the solutions address similar requirements from a functional perspective. However, MYOB Advanced is a pure cloud solution – it has been designed for the cloud from day 1 and takes advantage of many of the latest technologies that are driving businesses to prefer cloud-based ERP solutions over what are known as on-premises applications. As a SaaS application (Software as a Service) MYOB Advanced is licensed on a per user per month fee and all the applications are delivered over the internet via a web browser and maintained by MYOB in Amazon Web Services (AWS) data centres.
The costs of software maintenance and operations are all included in the monthly fee.
MYOB Exo is an on-premises application and whilst it is built on older technology, it can be deployed over the internet via technologies such as Citrix or Microsoft’s Remote Desktop Services and is licensed as a perpetual license application – which means you pay a license in full up front for the right to use the software plus an annual maintenance fee and you are responsible for deploying the software on your own servers and workstations. An annual maintenance fee is then paid each year to stay current on support and software upgrades.
To sign up for a demo, please contact our team on 1300 045 046 or email info@leveragetech.com.au and we’ll be more than happy to schedule a demo for you or point you to additional resources to help you review MYOB Advanced and how it can work for your business.
You can also view it online by visiting our official MYOB Advanced Demo page.
MYOB – Australia’s leading ERP and accounting software provider
In Australia and New Zealand, MYOB is a household name with 10’s of 100’s of small businesses entrusting their day-to-day accounting needs to an MYOB solution and 1000’s of accounting practices managing their practices with an MYOB Accountants solution.
But when people think of MYOB, they think of that heritage of serving small businesses with products like AccountRight, Premier and Essentials and many are not aware that there’s a new kid on the block – MYOB Advanced.
MYOB Advanced is built on top of Acumatica, a world-class Cloud ERP solution from Seattle, Washington and as a result many of the resources that you may find that refer to Acumatica also apply to MYOB Advanced including many of the technical articles and videos produced by Acumatica.
In their own words, Acumatica is a leading provider of cloud business management software that empowers small and mid-size businesses to unlock their potential and drive growth. Built on the world’s best cloud and mobile technology and a unique customer-centric licensing model, Acumatica delivers a suite of fully integrated business management applications such as Financials, Distribution, CRM and Project Accounting, powered by a robust and flexible platform. In an interconnected world, Acumatica enables customers to take complete control of their business; to play to their strengths, since every business is unique; and to empower their people by going wherever their people go, on any device.
The relationship announcement can be found here on MYOB’s website and you can see MYOB Advanced in action in this video.
Cloud ERP refers to an ERP system that is hosted in a data centre and is accessible via a standard web browser. The terms “Cloud” and “Software as a Service” (SaaS) are interchangeable in this context. For an in-depth overview of Cloud ERP software visit this page.
Featured blog post: MYOB Advanced SaaS and the benefits of “renting” a sophisticated ERP software
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