Big announcement for small business - MYOB Classic software changes
In breaking news, MYOB have today announced that they are providing partners and clients with over 12 months notice before they cease providing new features, patches, compliance updates or product support from 30th September 2019 for the MYOB Classic products (often referred to as Version 19 or earlier). After 30th September 2019 the product will still work as the software license remains the property of the owner, however, clients should be made aware that might be conflicts with future changes in the computer operating systems.
MYOB have chosen to take this step, in no small part, due to the changing compliance environment including the imminent arrival of the Single Touch Payroll (STP) reporting regime for all employers. Another key driver for change is the ever increasing risks associated with data security and the fact that the clients data is more robustly protected in the latest versions of the accounting software.
Bookkeepers are encouraged to talk with their clients about the best way forward for their businesses in consideration of the compliance changes and security risks. MYOB have stated that the transition to Account Right Live is quite simple and provides the ability to work totally offline on the desktop plus also the ability to access the benefits of synchronising with the cloud if this suits the business process.
To learn more directly from MYOB and access their toolkit to support the transition you can access here.