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  • How is MYOB Essentials different from AccountRight?


 

 

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MYOB Essentials is online-only, browser-based accounting software designed for new and smaller businesses. Because it's browser-based, you can run Essentials on either Windows or Mac. 

MYOB AccountRight is fully-featured accounting software designed for small to medium sized businesses which want the flexibility to work online or offline. It's designed to run on Windows. 

You need an MYOB subscription to use AccountRight or Essentials. If you don't have a subscription and need help deciding which product to choose, see this website.

We know that many people who use MYOB Essentials have previously tried AccountRight. So, we've put together this 'cheat sheet' designed to help you make the transition from AccountRight to MYOB Essentials.  

Differences in the way your data is stored

Easier data access

In MYOB Essentials, your data is stored online by default. This makes your life a lot easier, because you:

  • can access your data on any computer with internet access (see here for compatible browsers)

  • don't have to install software on your desktop (as you do with AccountRight)

  • don't have to install software updates—they're installed automatically, you don't have to do a thing.

Also, unlike AccountRight, you can forget about having to synchronise, back up, or check out/check in your file. Your data is always available, up to date and securely stored online. 

Your business

In AccountRight, your data is managed in a company file; in MYOB Essentials, your data is managed in your business. In AccountRight, your company file is stored in a defined location, called a library, either offline or online. In MYOB Essentials, your business is stored online by default—like a web page (but there's a whole lot more going on in the background):

Essentials data is stored online

You can sign in to MYOB Essentials at the following URLs:

When you first log in, you get a handy checklist of setup tasks you need to do. You can access the equivalent of the Setup menu and Preferences window in AccountRight by clicking your business:


The Essentials equivalent of the Company Information window is the Business details page (your business > Business details). There's some mandatory information that you need to enter which will be used in key functions, such as emailing:

MYOB Essentials Business details

Say goodbye to command centres—and hello to The Dashboard
If you've previously used AccountRight, you'll notice is that MYOB Essentials doesn't have command centres. Instead, you get The Dashboard:

This is a snapshot of the current state of your business, showing money in and money out, the balances of your bank and credit card accounts and any unallocated transactions.So, with MYOB Essentials, you don't need to run reports to know at a glance how your business is performing.

Accessing records

In AccountRight, you can access all of your customers, suppliers, employees and contacts in the Cards List. In MYOB Essentials, you can create new your customers, suppliers and other contacts, and access existing ones, via the Contacts page:

 contacts page

...and your employees via the Employees page:

 Essentials employee page

Workflow differences between MYOB Essentials and AccountRight

MYOB Essentials can do most of the workflows that AccountRight can and also removes the need to do some things you have to do in AccountRight. But there are some differences in how to do them.

WorkflowEssentialsAccountRight
Create, send & track invoices
  • tracks invoices by default
  • to be able to track invoices, you need to set up AccountRight to send emails
Email forms
  • send emails from software
  • can only send emails individually
  • send emails from AccountRight (you need to set up AccountRight to send emails) or from Microsoft Outlook
  • can send emails in a batch
Pay employees
  • normal wages and salary are set up by default; to set up other earnings and deductions, you need to create Pay Items
  • a comprehensive list of Payroll Categories to cover standard wages and deductions are set up by default
Work in multiple screens
  • can open multiple browser tabs to work across different screens (note that you will need to refresh your browser for changes in another browser tab to flow through)
  • can open multiple windows (some changes automatically update other open windows, some windows need to be manually refreshed)
Close a financial year
  • there's no need to close (or rollover) the financial year–we'll do that for you and update your software
  • you need to close the financial year to start a new one
Close a payroll year
  • there's no need to close a payroll year. MYOB Essentials automatically applies the correct tax tables to payroll.
  • you have to close the payroll year
Updating your software
  • compliance and feature updates happen automatically–you don't have to do a thing
  • you have to install compliance and other updates
Load tax tables
  • you don't have to load tax tables, the correct tax tables for the payroll year are loaded automatically
  • you have to load the correct tax tables for your payroll year
Features available in AccountRight but not yet available in MYOB Essentials
There's some features in AccountRight that are not available in MYOB Essentials:
  • Job management
  • Recurring transactions (but you can duplicate an invoice)
  • Inventory tracking
  • Purchase orders
  • Remittance advices.

Some of these features are under consideration for development at the community forum Ideas Exchange.

Try our 3rd party Add-ons. You can extend the capability of your MYOB Essentials with these add-ons.
Reporting differences

MYOB Essentials is designed for smaller businesses with simpler reporting requirements. This means that some reports available in AccountRight are not available in MYOB Essentials (although we will be adding more reporting).Here's some reports that customers have voted for at the community forum Ideas Exchange and are under consideration for development:

  • General Ledger summary

  • Balance Sheet comparison

  • Cashflow forecasting

All reports can be produced as PDFs. At this stage, only the main business reports can be exported to Excel formats.

PDF only

EXCEL & PDF

These Business reports:

  • Trial balance

  • GST Report for Activity Statement

  • Journal Report

  • Account List Report

  • Contacts List Report

All Banking reports

All Payroll reports

All Sales reports

All Bills reports

These Business reports

  • GST Detailed Report

  • General Ledger Details

  • Profit & Loss

  • Balance Sheet

  • Cash flow

For more information on the reports available in MYOB Essentials, see Reports.

 Getting help in MYOB Essentials

 At the top right of any MYOB Essentials page or window, click the question mark to access the help menu, then click Help for this page.

Help for this page option on the help menu 

Unlike AccountRight, you can't access product help by pressing the F1 key in MYOB Essentials. Pressing F1 in Essentials will only get you online help for the browser you are viewing Essentials in, for example, Google Chrome Help.