Hi Eli_Fer, Your concerns have been covered extensively in "secure invoicing upgrade' and other similar threads.
I'm going to highlight a few points for others who may be uncomfortable with handing over sensitive info.
In a nutshell, your verification/ID documents are required so MYOB can collect payments on your behalf. Your turn over and average invoice amounts are needed so MYOB can assess their risk of potential chargebacks, disputes and issues relating to collecting money on your behalf. MYOB's new invoicing system has been designed on the assumption that 'everyone' has agreed, or will agree, to receive payments through MYOB and pay the appropriate fee, hence the need for bank account info and a direct debit agreement.
An important note, once you Verify your business, online payments through MYOB are activated by default. Although online payments can be switched off in the software, you will still need to manually adjust any pre-existing invoices before you re-issue them. Remember, MYOB's payment receipts can be switched on just as easily as you switch it off, and my concern was that a future software update may accidentally switch it all back on. How many invoices could be sent out before you realise?
The direct debit agreement and MYOB's access to your bank account can only be 'turned off' or stopped by calling MYOB directly. Once stopped by MYOB, that agreement remains active/open for a further 6 months regardless of whether you have received payments through MYOB previously or not.
If you don't wish to participate in MYOB's secure invoicing 'Ecosystem' there are options available;
- Send invoices manually (downloard a PDF and send it using your own emailing system) preferred
- Get an exemption from Business verification (which many of us have already done)
- Move to a different software provider
I'm writing this because after approx 10 months of complaining and the eventual exemption from Business Verification, MYOB is once again on the band wagon sending me emails regarding the 'new' secure invoicing upgrade and how I'm AGAIN required to Verify my Business.
