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MYOB Launches NZ’S Only 100% Integrated Online Accounts

Media release: 28 March 2012

MYOB Launches NZ’S Only 100% Integrated Online Accounts And Payroll Solution
• No additional price for new payroll capacity

MYOB, New Zealand’s leading provider of business and accounting management solutions has released the country’s first fully integrated online accounts and payroll solution, MYOB LiveAccounts with Payroll. Designed specifically to fit the needs of small business, MYOB LiveAccounts with Payroll brings together accounts, banking and payroll into one easy-to use, affordable online system.

MYOB general manager Julian Smith says the release will be welcomed by small business, because most New Zealand businesses struggle to manage payroll without some help.

“Payroll is a real headache for most businesses; for small business, that pain is compounded,” says Mr Smith. “Small business owners are often under more pressure, juggling multiple challenges in a tough business environment, often with no external assistance.

“With the increasing complexity of new legislation – such as the changes to Student Loans and KiwiSaver that will come into effect in the new financial year – payroll is too much to keep up with manually. By integrating the key business functions – accounts, banking and payroll – into one online solution, MYOB LiveAccounts with payroll streamlines those processes. MYOB is enabling business owners to focus on doing business, not worrying about it.

“It is just one of the ways we are helping businesses to take advantage of the benefits afforded by cloud computing.”

MYOB is an industry leader in providing online accounting and business management solutions, with more than 35,000 businesses utilising a MYOB online solution in Australasia.

MYOB LiveAccounts with Payroll is a right-sized business tool that will enable business owners to raise invoices, keep track of expenses and manage GST – anywhere and anytime. With the additional payroll functionality, the new LiveAccounts release will also help to manage employee payroll, fulfil KiwiSaver obligations, simplify leave management, and accurately and easily file monthly IRD schedules.

Despite the additional features and benefits, MYOB has not raised the price of LiveAccounts, maintaining the $25 monthly fee, with no limits on number of users within a business, or support. Mr Smith says this aligns with the company’s original vision for the online solution.

“When we first designed MYOB LiveAccounts, the focus was not only on ease of use, but also affordability – pricing the solution at a level that will put an effective accounting system within reach of even the smallest business,” says Mr Smith. “Since then, we have continued to invest in enhancing that value proposition to add extra features as part of our programme of continual product and process improvement.

“For sole traders, LiveAccounts is the complete solution; for micro-employers, LiveAccounts with Payroll provides the extra tools to manage their staffing requirements at no extra cost.

This new initiative is one of a number of MYOB initiatives designed to support start-ups, sole traders and smaller businesses.

“Many New Zealand companies that have succeeded on the global stage have started out as sole traders, creating a staff-base as they grow, and many New Zealanders get their first employment opportunity in a small business,” says Mr Smith. “While the extra set of hands may lighten the workload, the reality is that it adds another layer of tax and compliance issues.

“As a nation, we should be making it easier for entrepreneurs and micro-employers to grow their business by removing some of the hurdles associated with the transition from owner-operator to employer.”

LiveAccounts with Payroll will be launched in early April, available at www.myob.co.nz/liveaccounts.
Business owners can trial the software for free for 30 days.

- ends -

About MYOB
MYOB is a leading provider of business management solutions that have helped more than a million businesses in Australia and New Zealand. MYOB serves businesses of all kinds and sizes, delivering software and services that simplify accounting, payroll, client management, websites, and much more. With a network of more than 20,000 accountants and other professional partners, MYOB provides the tools and support that help make business life easier. For more information visit the MYOB website at www.myob.co.nz

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