MYOB online solution targets small businesses

MYOB chief executive Tim Reed believes LiveAccounts which costs $25 per month to use, is at an affordable level to put an accounting system in reach of every small Kiwi businesses.

He says local business owners have been worked with to design a solution that offers just what they need, without any of the complexity of features and processes they don't require.

It has been tested with over 1300 accounts set up by businesses and accountants during the Beta testing process and Reed says interest in the solution is strong.

One of the key features is that LiveAccounts lifts the burden of data entry and bank reconciliation by automatically importing transactions from a business' bank account and credit cards. It is compatible with over 30 business bank accounts including credit cards, from over 25 banks and financial institutions.

There is also no limit on use, users or in technical support.

MYOB says it will be investing in the ongoing development of LiveAccounts with a number of feature enhancements planned for the next year.

Smith says during the next three years, MYOB has committed over $75 million to invest in product development for its range of solutions.

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