Archive for November 2009

To Upgrade or Not to Upgrade my MYOB Software

The most oblivious from the MYOB software provider is of course you must upgrade! That is how they make their money.

But really, why would you?

  • If you have staff and use the payroll functions - you should upgrade to allow you to have the latest tax rates.
  • This year the Australian Taxation Office made changes to the legislation on Superannuation and Salary Sacrifice which affects the automatic payment summaries provided by the software.
  • Shortcut features are usually added to each new upgrade and this makes the software easier and faster to use.
  • MYOB only supports the last three versions of the software.
  • Business out grows usefulness of earlier versions.
  • Accountants like to see the latest version and may be unable to open data from older versions.
  • Add-on Solutions to the latest versions may be upgraded.
  • MYOB Upgrades can open older version data files.
  • MYOB Upgrades are cheaper than purchasing full version software.

Do I need to upgrade my MYOB?

  • Not if you are happy with the information provided by your current version of MYOB.
  • Not if you have a small payroll and do not mind having to change the PAYG tax manually.
  • Not if you do not have any staff on salary sacrifice to superannuation.
  • Not if you do not mind having to hand write your payment summaries at the end of year.
  • Not if your add-on software solutions have not upgraded their software.
  • Not if your accountant can still access your data file.
  • Not if you do not require MYOB support from MYOB.
  • Not if you use a MYOB certified consultant who knows the earlier versions.
  • Not if your business has not outgrown the software usefulness.

In the end it comes down to personal preferences and business needs.  Bear in mind though, that it may cost you business more than money if you do not upgrade your MYOB Software.  If your hardware dies and you have lost your old disks and software keys you may end up having to purchase more than just a hard drive not to mention the time it takes to regain your footing and return everything to its original position.

Sometimes we have to spend a little to gain a lot in the cut throat business world and not keeping up to date with the latest products and services can cost you more. To get MYOB training in Melbourne contact us.