For Jodie Moore, the three steps to business success are simple: “Find the right accountant. Find the right accounting program. Use the right business structure.”
With 20 years of dedication to her clients as the sole practitioner of Moore Accounting & Business Services, Jodie's journey is not just about numbers; it's the story of a small business owner working with other small business owners.
“I find myself drawn to the small business community because I'm one of them,” Jodie says.
“I'm a small business, I clean here, I do the tax work, I make the coffee, I make my own lunch. There's a rapport that you have with a client who's on the same level as you in business. And I think that that's a really special relationship.”
And having that special relationship wouldn’t be possible without the help of MYOB and Online Payments.
A jump into modern accounting
For Jodie, the shift to using MYOB's Online Payments was a quantum leap in efficiency and client satisfaction.
"MYOB helps me run my business effectively due to the automation that MYOB now offers in their program,” Jodie says.
"It's literally cut my accounting time in my own business down by 80%, at least."
- Jodie Moore, Owner, Moore Accounting and Business Services
“The Online Payments are just out of this world. My debtors listing would be anything from 60 to 90 days overdue.
“But since I started with Online Payments through MYOB, I am lucky if I have somebody sitting at 14 days these days.”
This remarkable reduction in time spent on accounting tasks shows how MYOB allows for greater focus on strategic business growth and strengthening client relationships.
Streamline your business
One of the most time-consuming tasks in an accounting practice, or any SME really, is chasing invoices, and Jodie was definitely no stranger to this challenge.
“Once upon a time, I would spend three or four hours a week trying to do my invoicing and accounting through MYOB when I had to do it all manually,” Jodie says.
“Now I'm lucky if I spend 15 to 20 minutes.
“The online invoicing system in MYOB helps me streamline my business by just taking over most of the work apart from me actually putting in an invoice.
“That's literally all I do now. I don't chase the invoices up. The invoicing system now has a reminder system set up where it sends out reminders every few days, including the day the invoices are due.
"So I send an invoice to a client, and then it goes via email. And in the email, there's a pay now button which they click and pay the invoice straight away."
“I've found having that option in MYOB has definitely got my payments in faster. I don't have to sit around and wait for payments anymore.”
Such a dramatic shift has not only improved Jodie’s cashflow but also allowed for a more seamless and less confrontational approach to managing client payments.
A life outside the business
The benefits of MYOB's invoicing platform extend beyond the professional world for Jodie.
With the time saved from automating and streamlining invoicing processes, she has rediscovered the joy of life outside work.
"I have so much more time to focus on my dogs and the other things that I love in the world," Jodie says, highlighting the personal liberation that comes with embracing MYOB's technology.
This balance is a reminder of the extra benefits that modern accounting tools can offer – not just in a professional sense but for their quality of life.
The benefits of Online Payments
In the digital era, the ability to adapt isn’t just an advantage but a necessity.
Adapting payment processes with Online Payments in the MYOB business management platform streamlines the invoicing processes and supports SMEs to:
Boost cashflow: Businesses can receive payments up to 3x faster* when they offer online payment on invoices. This game-changer for small businesses helps savvy owners invest in and grow their businesses.
Be more efficient: Offering Online Payments simplifies invoicing and payment processes, helping businesses save time chasing payments, reconciling invoices, and reducing administrative tasks. As a result, companies can spend more of their valuable time focusing on strategy and growth.
Offer more payment options: Catering to customer preferences is crucial in today’s market. Online invoice payments enable businesses to accept popular payment methods, including Apple Pay™, Google Pay™, PayPal, Pay in 4, AMEX, Mastercard, Visa and BPAY.
Ultimately, you’re saving time for both you and your customers, while also making your business look as professional as possible.
“MYOB invoicing is great because you can actually design your own invoices in the program”
“You get to upload your own logo. They have numerous templates that you can choose from and fonts that you can choose from to make your invoice look as professional or as catchy as you like them to be,” Jodie says.
A path forward for accounting professionals
Online Payments exemplifies how technology can be harnessed to tackle traditional challenges, offering not just a solution but a pathway to a more efficient, balanced, and fulfilling business.
For those on the fence about integrating such technologies, Jodie's success story underscores the tangible benefits of doing so.
The efficiency gains, coupled with improved client relations and payment times, present a compelling case for adopting Online Payments.
Embracing the future
As the accounting world continues to evolve, tools like Online Payments that offer innovative solutions designed to meet the needs of modern businesses will continue to be at the forefront.
“I started with MYOB back in about 1994, I think it was when I when it was version four and I learned it at uni,” Jodie says.
“Since then, I've used it in a couple of employment opportunities over the years. And then when I started my own business, I knew I wanted to use MYOB because the program works.
“The progression from MYOB in 1994 to 2024 is outstanding.
“We've gone from a program that needed to be loaded onto a computer and then updated every single year or every time a tax table changed or anything like that to a program that is 100% online and MYOB do all of the updates for us."
“Now, we don't have to worry about any of those things anymore. It's so convenient.”
Applications for Online Payments are subject to approval. Fees apply: $0.25 per transaction + 1.8% of total invoice. Fees are inclusive of GST and will be automatically passed on to your customers unless you turn off surcharging. Payment accepted via Visa, Mastercard, AMEX, Apple Pay, Google Pay and PayPal. You can also choose to enable BPAY, but cannot pass on a surcharge to customers who pay via BPAY. View terms and conditions here.
*Based on a sample of 115,341,810 invoices issued by Australian MYOB customers between January 2023 and January 2024, comparing days to payment for invoices paid with or without online payments
