Existing MYOB user needs Single Touch Payroll solution (i.e. How to use AccXite with MYOB)
As of 30th September 2019, MYOB will no longer provide features, patches, compliance updates or product support for desktop solutions. MYOB’s expectation is that the users will move to its cloud solutions and pay a monthly subscription with a minimum 12-month contract. The cost is $109 per month if you have employees (As at 6 Sep 2019 from MYOB website for Account Right).
We are getting queries every day on what to do with this situation. As a business you want to reduce the running costs and also at the same time get the most out of your existing investment (on money paid and knowledge gained) on MYOB desktop software. At the same time you need to comply with Single Touch Payroll requirements.
There are 3 options you can take in this situation:
- Pay MYOB and move to cloud. This is the most expensive option in terms of the money paid to MYOB and training needed to learn a new system.
- Export MYOB reports to some file and import them into another software. This is not as straight forward as it seems. There are 3 reasons why this is not a good option:
- MYOB doesn’t produce one single report that includes all data necessary for Single Touch Payroll reporting. Obviously for MYOB it doesn’t make business sense.
- The MYOB reports are not machined readable format so the reliability cannot be guaranteed.
- Even if there is a system that could do this for you, you still need to manually check all the figures to ensure that figures in both MYOB and the new payroll system is correct for each line item. So, you are not really saving any time than entering the data direct into the new system.
- Use the existing MYOB desktop software and use AccXite for Single Touch Payroll Solution.
Best Option: Using AccXite for Single Touch Payroll Solution with MYOB
AccXite is built as modules so you can enter only the absolute minimum information required that you need to send reports to the ATO. So, after setting up the business and employees, on each pay run you just need to enter the gross wages. We will calculate the super and tax and if all is well you press “Submit to ATO” and you are done. To make things even easier, after the first pay run, we will copy the last pay run details to the new pay run, so if the figures are the same, you just need to Submit it to the ATO. The same goes for allowances, salary sacrifice, additional employer/employee super.
It is not just the ease of doing this that helps you with complying with the STP requirements. It is also the cost-effective way of complying with the ATO. AccXite charges based on the number of unique employees who were paid during the month. We don’t charge for support or additional pay runs and don’t have any other hidden fees. So, if you pay 10 employees during a month, the monthly cost will be $9.98 (for the first 4 employees) + $17.88 (6 employees @ 2.98) = $27.86 (including GST). That would be a monthly saving of $81.14.
We are actively developing an accounting software that is free for all our clients. We will be releasing it very shortly. So later down the track, if you want, you can stop using desktop version of MYOB and move to AccXite. We also provide Desktop versions of AccXite on Windows (Windows 7 and above), MAC (waiting on Apples’ Approval) and Linux (Snap and App Image).
AccXite is free to use until 31 December 2019 to try and it has to be the easiest software to use for Single Touch Payroll Software.