Cheers to you, our MYOB heroes

Another year down, and what a year it’s been. 2024 has been packed with hard work, lessons, and plenty of wins — thanks to you. Running a business isn’t for the faint-hearted, and we see the grit, hustle, and big ideas you bring to the table every day. So, let’s take a moment to celebrate everything you’ve achieved — and the role we’ve been lucky to play in your journey.

This year, we’ve been working harder than ever to create tools that make running your business smoother, simpler, and just a little less stressful. Whether it’s helping you nail compliance, supercharge your cashflow, or wave goodbye to admin headaches, we’ve had one goal in mind: to help you focus on what you do best.

Here’s a look at what we’ve accomplished together in 2024 — and a sneak peek at what’s ahead.

Sit back and relax while we put your admin on autopilot

Efficiency is the name of the game, and now you can automate more of those pesky admin tasks:

• New vertical home menu designs: You’ve all clicked the new “Create” button nearly 1,000,000 times for quick access to create quotes, invoices, purchase orders, pay runs or new employees in a flash with our redesigned vertical menu. Talk about a time-saver!
• Boosting banking capabilities: Get a crystal-clear view of your financial position and transactions with the new Banking Hub and the Bank Activity Report. Smarter auto-matching has boosted transaction matching by over 30%, making reconciliation a breeze.
• New overdue filter on expenses: Manage your cashflow like a pro by highlighting what needs your attention.

Cashflow? You’re in the driver’s seat.

Cashflow is the lifeblood of your business, and now you’ve got more control and flexibility than ever:

• Invoice your way: Over thousands of SME’s across Australia and New Zealand have transformed your invoicing game this year with the newly added customisation features for your sales templates. Features like terms and conditions, extra logos, document and column renaming and adjustable table layouts give you more control over the display of your invoices and quotes.
• Online payment options: Flick online payments on and off, choose whether to pass transaction fees on to your customers, and send invoices via SMS. These features give you the upper hand in managing your payments to get you paid faster.
• OIP Surcharging: You now have the option to choose whether or not to pass on credit card surcharges to your customers, excluding BPAY, keeping your costs in check.*

Confidence in compliance? Nailed it.

Compliance doesn’t have to be complicated—at least, not on our watch. We’ve rolled out some game-changing updates this year to help you stay on top of regulations without breaking a sweat:

• Updated tax tables and super rates: We’ve made PAYG tax rates and super contributions that kicked in on July 1, 2024, a breeze to manage.
• Self-service fair work statements: 372, 270 employees have already been onboarded using the current Fair Work Information Statement since we added it to employee onboarding.
• Auto-calculated final pays: Say goodbye to final pay headaches. Our auto-calculations for annual and long service leave balances mean thousands of employees received their final pay right on time, saving you from errors and stress.

Representing small business needs with the Australian Government

Behind the scenes, we’ve been going to bat for small businesses, accountants, and bookkeepers across Australia, making sure your voices are heard. Here’s what we’ve been up to:

• SME Performance Indicator: See the massive impact of small businesses on Australian GDP with our SME Performance Indicator. We’ve shared the results with Treasury, the RBA, and relevant ministers, pushing for more support as you navigate the economic rollercoaster.
• Advocacy for improved payment times and consumer data rights: We’ve been working with the government to improve payment times for small businesses to make it easier and cheaper for you to access your data.
• Ongoing advocacy in 2025: Next year, we’re doubling down on pushing for payday superannuation reforms, sensible tax changes, and a permanent $30,000 Instant Asset Tax Write-Off.

Thank you for choosing MYOB

As we wrap up 2024, we want to express our heartfelt gratitude. Your feedback and engagement drive everything we do. Every update and innovation is designed with your success in mind.

Here’s to another year of growth, efficiency, and success for your business. From all of us at MYOB, thank you for being part of our journey. We can’t wait to see what you achieve in 2025!

Information provided in this article is of a general nature and does not consider your personal situation. It does not constitute legal, financial, or other professional advice and should not be relied upon as a statement of law, policy or advice. You should consider whether this information is appropriate to your needs and, if necessary, seek independent advice. This information is only accurate at the time of publication. Although every effort has been made to verify the accuracy of the information contained on this webpage, MYOB disclaims, to the extent permitted by law, all liability for the information contained on this webpage or any loss or damage suffered by any person directly or indirectly through relying on this information.

*Applications subject to approval. Fees apply (inc. GST): $0.25 per transaction + 1.8% of total invoice. Fees will be automatically passed to your customers unless you turn off surcharging. Payments accepted via Visa, Mastercard, AMEX, Apple Pay, Google Pay and PayPal. You can also choose to enable BPAY, but you cannot pass a surcharge on to customers using this method. View terms and conditions here.