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The information only applies if you are on the MYOB Partner Program.
Premium Inventory is the ability to create more than the 10 inventoried items included with an MYOB Business Pro or Lite subscription. It appears on its own MYOB invoice (separate from the MYOB Business subscription invoice):
Charges for other Premium features, such as Online Invoice Payments and payroll usage, appear as line items on your MYOB Business subscription invoice.
Premium Inventory doesn't yet appear on the .txt disbursement file sent with your MYOB invoice. See the FAQs below for information about how to control who can upgrade or downgrade inventory.
How to pay for Premium Inventory
You can pay Premium Inventory invoices by credit card or direct card. If you normally pay MYOB invoices using BPAY or EFT, you'll need to use a credit card or debit card each time you pay for Premium Inventory.
You should pay prior to the due date and ensure that you have a secure connection to myaccount.myob.com. You should also confirm you are paying the invoice number and amount that appear on the invoice.
Just click the pay by credit card or debit card link in the invoice attachment, enter your card details and click Pay.
You can view all of your MYOB invoices by going to My Account > View my bills.
How you're charged for Premium Inventory
The amount you or your client is charged for using inventory in MYOB Business depends on how many inventoried items the business uses, as in, how many items you want to track the on-hand quantity of.
You can create as many I buy/I sell items as you want with the included inventory features in MYOB Business, but there is a limit of up to 10 inventoried items you can create, beyond which you have to pay the fee for Premium Inventory. This limit is based on the number of active items that have the option I track stock for this item selected:
An active item is an item that has the option Inactive item deselected. When Inactive item is selected, the item no longer appears in reports and some selection lists and is no longer counted as part of the number of inventoried items you're using. For more information, see Deactivating and reactivating items.
Selecting I track stock for this item unlocks the ability to track the quantity of the item that you have on hand, to automatically update that on-hand quantity whenever you buy or sell the item, and to use inventory reporting.
If you're using the included inventory features in MYOB Business, you can select this option on up to 10 items. If you're using Premium Inventory in MYOB Business, or you have subscriptions to the AccountRight Plus or Premier desktop apps, you can select this option on an unlimited number of items.
Example
You're using the included inventory features in MYOB Business, and you use 10 inventoried items. This means that each of these items have the option I track stock for this item selected.
You have other items in your business that don't have this option selected. They're not counted towards the number of inventoried items you're using. If you wanted to track the on-hand quantities of these additional items, you would need to upgrade to Premium Inventory.
How to check what inventory product you're using
Access My Account at myaccount.myob.com/account.
If prompted, sign in using your MYOB account email address and password.- Click Manage my product. You'll see the list of available products, including your current product subscription.
You also get an indication in MYOB Business of how many inventoried items you've created and how close you are to your limit of tracking 10 items before you need to upgrade – go to the Inventory menu > Items:
Upgrading to Premium Inventory
You can upgrade to Premium Inventory if you want to create than 10 inventoried items. You can do this straight from MYOB Business or via My Account.
Upgrade from MYOB Business
- Go to the Items page (Inventory menu > Items). When you've reached your limit of 10 inventoried items included in your MYOB Business subscription, you'll see an Upgrade for more inventory items link:
- Click the Upgrade for more inventory items link.
- On the message that appears, click View plan and review the upgrade plan.
- Click Yes, upgrade my plan. A confirmation message appears. You can now track the on-hand quantities of more than 10 items.
Upgrade via My Account
- Log in to MyAccount.
- In the Products section, click Manage my product:
- In the Manage my premium features section, click the Upgrade button for Premium inventory.
- On the page that appears, review the upgrade plan.
- Click Yes, upgrade my plan. A confirmation message appears. You can now track the on-hand quantities of more than 10 items.
Fee for Premium Inventory
If you upgrade to Premium Inventory, you'll pay an additional fee on top of your subscription, allowing you to track more than 10 inventory items per month.
The fee is added as an additional line item to your MYOB monthly subscription invoice.
To see the fee for Premium Inventory, visit the MYOB website: (Australia | New Zealand). For general legal info about MYOB Business, see the MYOB Business terms of use: (Australia | New Zealand).
To view your bills from MYOB, go to My Account > View my bills.
FAQs
Who is able to upgrade or downgrade inventory?
Anyone with My Account access to manage the MYOB Business product and subscription can upgrade or downgrade inventory within the product by going to My Account > Manage my product and then choosing a different product.
Premium Inventory doesn't currently appear on the .txt disbursement file sent with your MYOB Partner invoice. If you want to avoid the possibility of having your clients upgrade to Premium Inventory without this upgrade being listed in the disbursement file, we recommend selecting the My practice option at the question Who will pay the subscription fees? when you create the online file.
If you, as the Partner, choose to pay for the MYOB Business subscription when you create the online file by selecting the My practice option, only you can upgrade to Premium Inventory on behalf of your client.
If you want your client to be in control of whether they can upgrade to Premium Inventory, and you're aware this won't be listed in the invoice .txt file, we recommend selecting the My client option at the question Who will pay the subscription fees? when you create the online file.
Learn more about choosing your payment options.
Do I get more features if I upgrade to Premium Inventory?
When you upgrade from the included inventory in MYOB Business to Premium Inventory, you still get the same features, such as automatic tracking of on-hand quantities and reporting, but you get to track more than 10 items.
When am I charged for using Premium Inventory?
You'll be billed for Premium Inventory at the same time as you're billed for using MYOB Business.
If I upgrade to Premium Inventory part way through a month, how much will I be charged?
If you upgrade part of the way into a month, you'll only be billed a pro-rata amount. You'll start paying the full amount the following month.
Can I downgrade from Premium Inventory?
Yes:
Make your inventory items inactive (you can retain 10 active inventory items if you want).
Log into My Account (myaccount.myob.com). You can also get there from within MYOB by clicking your business name and choosing My account.
- In My Account, click Manage my product.
You'll see the list of your products. - Click Go to product.
- Click Request cancellation. The cancellation will apply from the beginning of the next calendar month. Your new monthly payment will start from your next bill.
If I downgrade from Premium Inventory, am I still be able to see all of my items?
Yes. However, once you downgrade from Premium Inventory, you can only have a maximum of 10 active inventoried items in MYOB Business.
After I downgrade, am I able to upgrade again?
Yes, just follow the steps in Upgrading to Premium Inventory, above.
Are inactive items counted towards my inventory limit?
No. If you select the option Inactive item in an item, it's not counted as part of the number of items you're tracking the on-hand quantity of. The item also no longer appears in reports and some selection lists. For more information, see Deactivating and reactivating items.
Can importing items affect my inventory limit?
Yes. If you import items that have the Inventory flag set to indicate that you will track the on-hand quantity of an item, this counts towards your inventory limit. If you're using the included inventory, and you've reached your limit, you'll see an indication when you try to import more items:
If you want to increase your inventory limit, click Need to track more items? and follow the prompts to upgrade your subscription to Premium Inventory.