MYOB Accounting Plus, version 18. Recommended retail price of $749 or upgrade price is $395. Should you upgrade, my opinion is NO you shouldn’t.

MYOB Version 13 and Version 18, both copies of the software perform the same fundamental tasks.

The rate of GST in Australia hasn’t changed since its inception in the year 2000, so the calculation remains the same in version 18 as it did in version 13.

The fundamentals of accounting have remained the same, a debit is still a debit, liabilities well they are still liabilities and income and expenses, you get the idea are still income and expenses.

I have dealt with all the recent versions of MYOB, printed out profit and loss statements, balance sheets, summaries for GST and payroll, you guessed it, they are still the same.

So why is there a need to upgrade every year, this year according to MYOB, one of the reasons is that you have the “Ability to generate an ETP Payment summary in the Print Payment Summary process.” So now MYOB have given you an extra option of printing the ETP Summary. How much of the $395 upgrade fee is that worth?

Ok, it might seem that I am giving MYOB a serve, Quickbooks in another of the shelf accounting software that is priced much the same as MYOB. Yes all the above apply to Quickbooks to, as they bring out a version every year.

So before you rush out and buy that new version, look at the changes, in most instances the changes are irrelevant to your basic needs.

Ability to generate and ETP Payment summary in the Print Payment Summary
process.

6 Comments

  1. Karri, MYOB and Quickbooks are both very useful accounting packages, and a lot of my clients use them. I am not saying that you shouldn’t purchase the software, in fact I would recommend that clients purchase should their circumstances dictate it. What I am saying, once you have made the original purchase….. do you need to upgrade?

  2. Hello!

    People would probably want to upgrade to the current Version of MYOB (now 19.5) to help them comply with the ATO requirement of submitting their empdupe files (payment summary reports) in the format that is up to date with current legislation. i.e. RESC, etc. This is of course if they have employees, and want to track the HR part correctly and accurately.

    In a comparison, Accounting Plus upgrading to current, about $350 – $500, QuickBooks desktop version about the same. Consider Upgrading to QB Enterprise Online (yearly subscription) for $275.00 each year! I know which one I’d prefer if my decision was driven by my pocket…

    On a serious note, the ATO will not accept payment summaries that aren’t compliant, they have been warning businesses for a few years now, and require empdupe files or manual payment summary reports that are relevant to today’s legislation – without exeption.

    Cheers mate!

    Trish (White)

    1. Quite true Trish, the Reportable Employee Super Contributions (RESC) is a major change to the software and is a very good reason to make an upgrade if you are are business with employees. But if you do not employ, then these changes are irrelevant.

      So before you rush out and buy that new version, look at the changes, in most instances the changes are irrelevant to your basic needs.

      Thanks Trish for your comment

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