UPDATE: Added pricing, compatibility with MYOB PayDirect
MYOB has replaced the branding for its browser-based program LiveAccounts with the MYOB Essentials range. MYOB Essentials Accounting included an updated design and user interface and added a separate online cashbook application, MYOB Essentials Cashbook, that was available to accounting and bookkeeping partners only.
MYOB Essentials covered all the basics of a general ledger program such as quotes, invoices, expenses, payments, auto bank reconciliation, payroll and a common ledger for collaborating with accountants and bookkeepers.
Essentials was integrated with MYOB’s new mobile payment service, MYOB PayDirect. Businesses could take credit-card payments on the go, send receipts, raise invoices and manage debtors with the mobile app which sent the information through to Essentials.
MYOB Essentials Accounting costed the same as LiveAccounts at $29 including GST and NZ$23 plus GST per month. The first API developer partners that integrated to the MYOB Essentials API included Shoeboxed, ServiceM8 and Tradify.
MYOB planned to detach payroll from MYOB Essentials Accounting in Q3, 2014. The price for MYOB Essentials Accounting with Payroll when released will be $40 including GST and NZ$34 plus GST per month.
MYOB Essentials was targeted at businesses that were new to accounting software, who wanted real-time business insights and be hands-on with accounts and could access the business financial information completely through the web browser.
LiveAccount subscribers were automatically taken to the new program using their existing login credentials.
MYOB Essentials Accounting included integration with MYOB Accountants Office and MYOB Accountants Enterprise practice suites, which allowed year-end accounts to be produced directly from the MYOB Essentials ledger in the coming weeks. MYOB claimed accounting firms could take 40 percent less time by working with its online software.