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AIA

MYOB launches £69 cashbook program

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25th Dec 2005
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Australian accounting software developer MYOB has embraced the "instant" software model with a £69 application called MYOB BusinessBasics.

Having established an international following with the user friendly approach of its flagship MYOB package (recently updated to version 1), MYOB has followed the lead of rivals Sage and Intuit by adding an entry-level version to its portfolio.

With its £69 price tag, MYOB BusinessBasics is targeted at start-up business and sole traders.

Designed as a basic cashbook, BusinessBasics contains functions to process and track quotes and invoices and cope with VAT. The package includes 70 report templates to help users make sense of the accounting information. The report templates include nominal ledger reports, profit & loss, debtor details and summaries, sales analysis reports, banking transactions and reports showing costs assigned transactions to different jobs.

"Some of the customers we have talked to said MYOB Accounting was a bit too much for their needs, so we stripped out some of the functionality like stock and payroll to make it a bit more accessible," said MYOB UK general manager Simon Smith.

"We're aiming at the small, start-up business that wants to process invoices, to monitor who owes them money and track their bank accounts. The kind of people who use Excel and Word for these things can now do them in MYOB BusinessBasics without having to rekey all the data."

By hooking users at the start-up stage, MYOB is looking to develop a longer-term relationship with businesses with the opiton of migrating to the MYOB Accounting and Accounting Plus packages.

"If they grow and need purchase ledger or stock functions, or they hire staff and need payroll, there's an upgrade path for them. With our Upgrade Assistant, all they have to do is point it at BusinessBasics and it will upgrade the data to MYOB Accounting," Smith said.

Because MYOB BusinessBasics is also available for Macintosh users, MYOB could uncover a lucrative market among the nation's legion of small advertising and design consultancies, Smith suggested. "There are cashbook products available for the PC, but on the Mac side, the big developers don't provide it. Lots o businesses might have looked at MYOB Accounting but found it too much but until now there's been nothing in this niche."

The developer is marketing MYOB BusinessBasics through its existing channel, including retail and mail order software specialists, but Smith added that the company was expecting that the £69 accounting application would help it break into new high-street outlets.

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