Secure Invoicing - Help pls.
I am now unable to send out Supplier invoices - MYOB is saying I need to upgrade to secure invoicing to email this invoice? I completed the upgrade steps days ago - only because I had to - now await...
Forum Discussion
Hi Jenni,
Bank account is verified by retrospective BANK to ensure each entity is legitimate business and money business receiving is for legitimate reason. BANK also cross reference business details with ATO and ASIC. This is their legal obligation to do so. If they find that some data is not matching they will block bank account till they not receive requested information.
Mean excuses that MYOB is using to force all subscribers to 'Verify' identity for 'safety' and to prevent 'money laundering' reason are only for those subscribers that can be easy convinced.
We all know big (2%) money is in the game plus transaction fee. If they charging only transaction fee I may somewhat believe that there is no hidden agenda ... but not with 2% of all invoices (value) that they want to grab from subscribers.
I seeing some subscribers still believe that once they 'verify' their account they will be able to switch off that option. Yes I believe this is correct BUT moment they switch off they will NOT be able to use /send Invoice to their customer using MYOB emailing option.
I personally called MYOB customer service to clarify that and I was told if I switch off payment option Invoice can not be send. If I switch on I can send invoice through MYOB emailing system but MYOB will charge 2% of invoice plus transaction fee.
For those who want their found going through MYOB and can afford 2% good luck to them but I doubt many customers are there they can afford. Bigger businesses (with much $) they use better and more complex software.
My recommendation to Subscribers (those who not wish to pay 2% of their total SALES) but they still want to use emailing system (that was always part of basic subscription) they should send email or call ASIC regarding this matter. ASIC would know if MYOB have legal right to force subscribers for Invoices payment to go over their financial system to be able to collect 2% plus transfer fee.
Otherwise look for other accounting software.
But I would not hold my breath... I would say all of them watching what will happened and if MYOB will end up with 2% (free) fond therefore they can do same or if MYOB end up with Class Actions.
Holly **bleep**.
Myob have been the biggest pains in the arse the whole time to deal with.
They are totally into locking users into their platform and gradually increasing the collection of information.
Take for instance the "InTray". It has very limited use. Its main use is however to keep electronic versions of all tax deductions.
And the Mobile Scanning tool only lets you scan the docket, not enter relevant information to complete the transaction, thus forcing you to spend more time later in the office sorting it out.
Sounds innocent enough, right?
Wrong!
MYOB now hold your tax information that you must keep for 5 or 7 years. So if you ever wanted to quit MYOB, you will be forced to keep paying their monthly subscription for up to 7 years after you have moved to another software, or even retired just so you can weather a Tax audit..
That's the business we are dealing with.
And now they want more information, and a cut of your profit on top of their ridiculous monthly subscription.
I say they have well and truly stepped outside their bounds.
Class Action.
Hi Andrew,
just FYI re Tax Audit....subscribers no need to hold subscription for 7 years for taxation purpose if business is sold or close down. Files can be archives and stored on PC hence one can have record for ATO purpose (when require). Nobody would pay subscription for another 7 years just to be able to keep archive. Please read more on community forum and what exactly need to be done. But definitely no need to pay license for 7 years ....
Thank you.
I will believe it when I see it.
Myob over-promise and under-deliver constantly.
Oh, and look, they have just increased their monthly fees, yet deliver less features.
How do they justify this?
I suspect it's because their customer base is shrinking, so its an attempt to balance the books.
Just lean heavier on those that support them under duress already.
Real smart.
My accountant tells me we are their only customer still using MYOB.
What does that say?
