Announcing the new services at MYOB’s ‘Incite’ roadshow, CEO Tim Reed said the adoption of online and mobile technology is having a big impact on the accounting profession and technology providers are now tapping that technology to deliver greater possibilities.
“We are seeing effects and opportunities in three areas: transaction processing, compliance and advisory. These three accounting workflows are now more closely intertwined than ever before, creating innovative new possibilities for practices and their clients,” he said.
“The Connected Practice is how we see the profession taking shape, and it is the guiding light to MYOBs continuing investment in cloud accounting. It delivers time and efficiency to partners, enabling them to grow their advisory business.”
As part of the improved services, Mr Reed announced that MYOB partners can now access an online, single dashboard view across all of their clients' MYOB cloud-accounting solutions.
This dashboard includes a number of key efficiency features found in MYOB BankLink and all partners will have access to MYOB Portal, enabling them to collaborate with clients and get sign-off ‘on the go’.
New services announced include an online ledger, Essentials Connected Ledger, and Essentials Accounting Starter.
- MYOB Ledger: MYOB Ledger is available now for accountants using MYOB Practice Solutions. The online practice ledger is the most efficient way to work with shoe-boxed clients, non-MYOB ledgers, and for non-trading entities. Combined with client accounting, practices will have a consistent workflow across all kinds of clients no matter what product the client is using.
- MYOB Essentials Connected Ledger: MYOB Essentials Connected Ledger will be launched in Q2 and is ideal for businesses that don’t need accrual accounting. The product can be used to manage the books and GST returns for small-volume clients. It also meets the needs of accountants and partners that service growing businesses. It uses the DNA of MYOB’s market leading BankLink solution by connecting bank feeds to an online accounting ledger.
- MYOB Essentials Accounting Starter: Also to be launched in Q2, the new MYOB Essentials Accounting Starter is an easy introduction for micro-businesses and start-ups looking for a price competitive starting point.
“We are focused on delivering integrated workflows between businesses, practice and partner solutions, ensuring collaboration on data, documents and tasks,” Mr Reed said.
“By extending our product offering, our partners can now benefit from this connectivity with even more of their client base and be the most effective and efficient in the market.”