AccountRight is suitable for businesses with more complex inventory needs, such as those that build items from other items, store items at multiple locations, have tiered pricing levels or need to be able to add items to inventory without receiving a supplier bill.
When deciding what inventory product to use, consider the examples and feature comparison below.
Bookstops is a small business that sells ornamental bookends. They're small, but they're ambitious and are expanding their product range. They want an easy automated method of keeping tabs on how many sets of bookends they have in stock. Bookstops don't build the bookends in house but order them in. They're only getting a small volume of orders and only sell from what they have on hand. They want to know how the new product lines are performing and when to order more stock. So the inventory features in MYOB Business are ideal for their needs.
HamperWorld is a growing business selling Christmas hampers. They sell a large range of hampers at different price points. Each hamper can contain up to a dozen or more separate products. These items come from a number of suppliers and HamperWorld package them up. They need inventory software with advanced packaging/auto building features, as well as the ability to easily backorder items to complete a hamper – especially around Christmas when orders get hectic. The inventory features available in MYOB Business are not yet suited to their needs. They might be better off considering the full inventory features in AccountRight for now.
MYOB inventory features compared
Create inventory items
Delete or deactivate items
Add item reordering info
Build inventory items from other items
List a bill of materials needed to build an item
Store items in multiple locations
Buying and selling items
Sell items from stock on hand
Order stock from suppliers
Create sales orders for customers
Easily reorder stock
Backorder items to fulfil sales
Add items into inventory without a supplier bill
Track item quantities
Automatically update item quantities when buying and selling items
Adjust the on hand quantity of items
report on stock on hand
analyse item sales and margins
report on what needs to be reordered
pricing list report
item transaction report
item build report
End of period
Make EOFY inventory adjustments
Reconcile inventory accounts and values
Do a stocktake
More features are coming
We'll soon be adding more advanced features for businesses with more complex needs, such as backordering, tiered pricing, or the ability to build items from other items. We'll update the comparison table above as those new features become available.