When Quicken decided to revamp its range and take on MYOB's Premier products with its new look QuickBooks Pro, MYOB countered by stepping into Quickens traditional turf at the lower end of the price range.
MYOB's new Business Basics is aimed squarely at Quicken Cashbook and QuickBooks and is going to give them quite a shake up. It might also backfire on MYOB in some sectors of its market as small operators find benefit in ‘downgrading' to the cheaper product.
It takes about 30 minutes to set up and anybody who has used any of the MYOB range before will find it a breeze to use.
However, I've never been a great fan of MYOB's interface and newcomers might find it a bit difficult to find their way around at first. It is not as intuitive as some of its competitors, but once users come to grips with the ‘MYOB culture' they will find it is not as complex as it looks. The program will do everything a small trader wants – keep track of incomings and outgoings, create invoices and quotes, and provide a range of essential reports. Unlike QuickBooks, which has lost the old remittance advice from the bottom of its invoices, Business Basics does the opposite.
It provides a remittance advice with multiple payment options including Bpay, credit card by phone payment, and cash or EFTPOS using POSTbillpay and the standard "put the cheque in the mail". Like QuickBooks, Business Basics allows you to email invoices and quotes direct to customers as PDF attachments; and send reports and data to your accountant.
If you have kept your books in order during the month or quarter, your business activity statement will automatically be reconciled at tax time so all you will have to do is copy the figures over on to the official form.
Overall it provides enough for small operators, and at $199 it is a better buy than other accounting products with features you'll never use, but are for four or five times the price.