Recent Posts & Replies
Delay 15/03 - Southern Cross Credit Union
Hi all, we're aware that some customers are experiencing a delay when attempting to receive their bank feed data from Southern Cross Credit Union. Data has not been received since 14/03. This is being investigated with Southern Cross Credit Union. We will aim to update here once this has been resolved. Thanks!MYOB Secure Invoicing Upgrade: update and Summary 11/03
6 MIN READ Hi everyone, Due to a high number of comments (and MYOB replies) about Secure invoicing, I am posting a summary of the change, frequent questions/complaints and the answers from MYOB to make it easier for everyone to find this important information. I will also be archiving the previous discussions on the forum so that this new post becomes easier for customers to find. It is a long update, but in the interest of transparency, fairness and to avoid any concerns around censorship, I am doing my best to make sure everything is covered. The Secure Invoicing upgrade began with a small test group of customers in October 2024, and we have continued to roll this out to more customers in small batches since then. We are some time away from this being released to all customers, so don’t worry if you have not heard of it or seen any communication from us. What is the Secure invoicing upgrade? Secure invoicing is an important upgrade being rolled out this year to customers who send invoices on MYOB subscription plans. From MYOB Business Lite, through to AccountRight Premier. The upgrade adds multiple layers of security for your business, plus automation features designed to help you save time and accelerate cashflow. The Secure Invoicing ecosystem is a combination of the secure distribution of invoices using MYOBs trusted software (Email, SMS, CopyLink) and the ability to accept secure payments. Secure invoicing includes: Always-on fraud monitoring for transactions and payment activity Secure payment methods MYOB verified badge End-to-end secure invoice distribution Additional questions/objections to this: Why is online payments combined with secure invoicing? + Online payments should be separate / I don’t want online payments + I’m happy to have additional security with invoicing but I don’t want to have payments. The distribution of invoices using MYOB software, fraud monitoring and secure payment of invoices is combined into a single MYOB Secure invoicing ecosystem to provide the best possible protection for businesses and consumers. Although these features are combined, you have the flexibility to adjust settings to suit your preferences around the secure payment methods. Learn more about changing your settings here Is this the same as e-Invoicing? No – e-Invoicing is an ATO initiative, similar to this but it is only for the digital exchange of invoice information directly between a supplier’s and buyer’s accounting systems, regardless of the software they use. You can learn about e-invoicing here. MYOB Secure invoicing is for all business using MYOBs software, and applies regardless of whether the invoice is being sent to a business or a consumer. Why is MYOB making this change? Cyber security is a constantly evolving landscape with new threats emerging daily. MYOB continuously develops and invests in solutions to meet these challenges, but security is a shared responsibility and requires vigilance from everyone. Financial losses from online fraud and cyber scams cost Australians over $2 billion in 2023. Scam reports from businesses rose by 28%, resulting in $29.5 million in losses. Small businesses, with fewer resources for risk mitigation, were hit hardest, reporting nearly $12 million in losses from false billing—the most common scam. MYOB understands that falling victim to a cyber scam can have very real consequences. That’s why we have developed and will continue to invest in secure invoicing, in addition to other essential security measures like Multifactor Authentication (MFA) and inactivity login timers. Additional questions/objections to this: Is there a legislative/legal mandate that MYOB is adhering to for this change? No, the Secure Invoicing upgrade is a decision MYOB has made to protect business and consumers across Australia. There has been reference to MYOB complying with legislation as part of the verification process and this is still also true when it comes to the Secure payments component. To comply with anti-money laundering legislation, we must verify certain documents in line with KYC regulations. Read more here. What do I have to do? Customers are required to verify their business as part of the upgrade process. This includes identity verification of all ultimate beneficial owners (typically any individual with 25% or more ownership or voting rights for a company) Find out more about verification here Additional questions related to this: I don’t want to give sensitive information to MYOB + How is my data being stored and treated All information will be handled in accordance with our Privacy Policy, which can be accessed here: www.myob.com/au/privacy-policy. For further peace of mind, our current system for verification erases documents after 30 days and does not store them indefinitely. What happens if I don’t want to verify my business and/or I don’t want to upgrade? Customers who do not complete the business verification and upgrade to secure invoicing will be restricted from utilising the MYOB platform for distribution of invoices. This means that distribution of invoices using the secure methods of email, copy link and SMS will be unavailable. Customers can continue to send their invoices themselves however and will need to use a ‘Print to PDF’ option, then manually email the invoice themselves through Outlook, Gmail etc. Additional questions related to this: If I can no longer email invoices through my software, will I still be able to email payslips and other information? Yes the restrictions only apply to the distribution of invoices. There is no restriction to emailing other items. What are the fees and charges for the online payments feature? The fee for secure payments is 1.8% of the invoice value + 25c transaction fee. This only applies if the invoice is paid by a secure payment method. For example, if the recipient of the invoice still chooses to transfer the money to you via bank transfer, there are no fees. But if they paid via Bpay, Visa, Mastercard etc then the fees apply. Please note that there is flexibility with the fees. You can decide whether the fee is paid for by you or by the person paying the invoice (surcharging). *Please note, BPAY fees are unable to be surcharged to the customer. You can also choose whether you want to have BPAY enabled or disabled You can choose whether you want to have secure payments enabled or disabled *Please also be advised, that after completing the secure invoicing upgrade, the secure payments feature will be enabled on by default. Find out more about the fees and charges here Why should I use online payments? (spoiler, this hasn’t been asked yet, but it’s important to know) Using the online payments feature has multiple benefits to you and your business. Get paid faster – the sooner a customer receives an invoice, the quicker they can pay you. But how much of a pain is it to copy a BSB and Account number into your banking app and make a transfer, add in the reference etc. The Pay now button in the invoice makes payment quicker and easier helping you get paid faster. Getting paid faster helps increase cash flow to your business Better security – online invoice payments use several layers of protection to identify fraudulent behaviour. Peace of mind – A network of verified businesses means fewer risks and safer transactions, so clients can invoice with confidence, and customers can pay knowing they’re interacting with a trusted business. Save time – get automatic notifications when payment is made on an invoice. Payments are automatically recorded in your software and the invoice closed off. Less time chasing payments and debtors. Read all about it here Additional questions/complaints related to this: I don’t want to use the service Why should I verify if I am going to turn payments off afterwards MYOBs position is that Secure payments not only protects businesses and consumers from fraud but it supports businesses in getting paid faster, increase available cashflow and saving time chasing debtors or reconciling. We recommend and encourage customers to keep this feature enabled Thank you for taking the time to read and understand this change more. If you have a question, you are still welcome to reply to this post or start a new discussion in the forum. Kind regards, Mike/MYOB
Difficulty understanding leave accrual, and how to adjust leave entitlement balances in Carry over and Year-to-date columns
I have been manually keeping records as I had issues with automatic leave entitlement accrual due to never having been able to understand how to correctly set up the leave entitlement categories for our permanent full time staff. I found the article link below and I "think" I have now set up the leave entitlement categories correctly. https://www.myob.com/au/support/myob-business/payroll/leave-and-entitlements?productview=Desktop For now, I have used the Calculation Basis Hours per pay period, with the formula as follows: 20 (days annual leave per year) x 7.5 (working hours per day) = 150 hours 150 hours ÷ 52 (pay periods in a year) = 2.8846 Then to reduce balances when leave is taken, under the Linked Wages Category I ticked the applicable payroll categories e.g. Annual Leave Pay, Cashout annual leave in service, and Unused Annual Leave-ULT. If I should be using the Calculation Basis Percent of Gross Hours, could someone please advise where the "Gross Hours" comes from. Is it from the Hours in Weekly Pay Period? e.g: If I now have the accrual set up properly, my second issue is that I am unsure how to correct the leave entitlement balances on the employee cards. I can see that I can manually adjust the "Balance Adjustment" column, but I don't know how to correct the Carry Over and Year-to-Date columns. For example, I need to correct the employee below to show that they have 968.2694 hours in the Carry Over column, and 31.7306 hours in the Year-to-Date column. Is there a way to do this? Any assistance or link to another article would be appreciated. Thanks and regards Narelle
Reporting Issues - Comparison Reports Leap Year
I have encountered a difference with Profit and Loss comparative reports between the online file MYOB Business and the desktop file MYOB AccountRight for the same client. When generating the report for February 2025 compared to February 2024 the AccountRight report is correct. However, the online version only allows for the "last month" selection (ie 1.2.25 to 28.2.25) which drops off any transactions in the comparison that were entered on the leap year day 29.2.24. I have tried to generate the report using custom dates but that doesn't work either. How do you get around this other than changing all the transactions dated 29.2.24 back to 28.2.24 to get the comparative data correct in the online file?
Prepare BAS/IAS - lodged manually
Hi our client uses the Prepare BAS/IAS function to lodge their BAS to the ATO direct through MYOB. However, there was an issue with their monthly Activity Statement for January, so we as the Tax Agent lodged this to the ATO on her behalf. Therefore on her screen it shows this BAS as in progress, but it has been lodged with the ATO. Is there a way that she can update the status of this BAS in MYOB online? Thank you, Sheree
Invoicing for service based businesses
I work as a sole contractor consultant, and have a few suggestions that would save a lot of time and effort when invoicing through MYOB Solo for me & others with similar businesses: Hours not units: Since I'm a service based business charging for my time rather than selling products, it would be great to be able to change 'qty/units' to 'hours' and add in a field for the date of service / date range. Even better if this could be combined with being able to save or pre-fill my standard hourly/daily rate as some sort of 'frequently used item', rather than having to type it out each time. Linking expenses to invoicing for reimbursement of on-charge expenses: I often travel for client work, and incur expenses that I then on-charge to the client to be reimbursed. I saw there was a recently a how-to post on here about reimbursements, but I don't think it goes far enough since it still means having to create duplicate entries for the same expense in the 'money in' and 'money out' section. When creating a new invoice ('money in'), I want to have the option of going through the list of my previous expenses (that I have been diligently recording in the 'money out' section), selecting the relevant expenses, and then having them automatically added as separate line items on the invoice, with relevant amount and description pre-filled (bonus points if the receipt photos can also be automatically compiled into an attachment to the invoice). Then once the invoice is paid, the relevant expense records would automatically update. Reflecting discounts and credit amounts: I've seen other posts about this - it is pretty inconvenient to only be able to reflect a discount by manually adjusting the price and description when invoicing. It would make the invoices much cleaner and easier to follow if we had the option of adding in a negative value in the 'item price' field to reflect a credit amount or discount for the client as a separate line item. Thank you!
