Recent Posts & Replies
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
Weekly Payroll
Hi Community Members, I recently started using MYOB switching from competitors where i was using fortnightly payroll. It was easy to get the dates for fortnightly schedule. For weekly i wasn't sure and used Monday to Sunday as the week and made the payment. for e.g. Pay period 06/01/2025 - 12/01/2025 whereas when i now got some info from a site now where it says: Pay period 1 Friday, December 27, 2024 Friday, January 3, 2025 Friday, January 3, 2025 2 Friday, January 3, 2025 Friday, January 10, 2025 Friday, January 10, 2025 3 Friday, January 10, 2025 Friday, January 17, 2025 Friday, January 17, 2025 Since i have already made payments and generated salary slips. Do i need to do a fix or i can do it for future payroll? I have already generated payroll till 24/02/2025 - 02/03/2025 Any expert advice or from official MYOB staff??
Prepare Electronic Payments is selecting wrong bank details
I have an issue occuring with the banking function. When I prepare an electronic payment for our second bank account, I choose the second account in the Pay from Account drop down box and export the bank file however when I open the exported bank file, it has the bank details of the first bank account and gets rejected by the bank. Note this process used to work perfectly so I know its not a settings issue - it just started glitching and the error is happening in two different MYOB files. If I login to the desktop version it works okay but this is inconvenient as I use the desktop version for everything else. Any help would be appreciated!
Latest update
Hi guys, My name is Isy. I have been using MYOB Business Pro for quite a few years now. I liked the fact that you could be a detailed description just beneath the Contact Payee drop down box and when you had finished recording, it would take you to the find transactions window where you could see your description. As of today that has been turned off and you now put that description next to the amount section. When you finish recording, it takes you back to the find transactions window and now you cannot see your description :( I am not happy!!!!! Is there anyone else out there who feels displeased with this? Kind regards Isy Keys
MYOB Capture App
Hi, we are receiving poor quality captures into our MYOB tray. Is there anyway MYOB can improve the quality of the capture to be more like a scanned document such as iPhone Notes scan document uses? We just can't use the captures, they are not clean enough and often very distorted when viewing them during the processing stages.Bank Feed FAQs
Hi everyone, Bank feeds is a great feature offered in your subscription where you connect a bank account or credit card to MYOB Business. Once connected, the transactions from the account are fed straight into MYOB Business – instead of having to enter them manually. This saves time and helps to ensure your business books match your bank accounts. Find the list of supported banks here, including the frequency that they are updated to your file. I'm missing a transaction from my bank feed. Jump on over to this page here for some tips on how to check your feed is active and your filters are correct. Alternatively, the bank feed for the day might be delayed. You can check for notifications from MYOB about any known delays here ****If you are using bank feeds, make sure to tick the notification bell on this linked board above so that you are notified when we update about any delays. Why are my bank feeds duplicated? The most common cause of duplicated bank feeds is when a qif file has been imported alongside bank feeds. If you have bank feeds active, please do not import transactions yourself to avoid duplication Why are my bank feeds delayed? Delays can occur for a number of reasons, although the aim is to have all transactions showing in our customers files at the beginning of the day, each institution has a different time of day and even days of the week that they provide the transaction data to MYOB. The most common scenario for delays is that MYOB has not received the file from the banking institution **When this happens, MYOB will work with the institution to get the data as soon as possible and get the feeds sent to our customers files. This (in most cases) will happen on the same day If you need help with your bank feeds or banking workflows, you can ask a question to the community in the below locations: For MYOB Business (Browser) > here For MYOB AccountRight (Desktop) > here If you need to get support from MYOB: Head to myaccount.myob.com and submit a support case
