Important MYOB Advanced Cost FAQs You Should Know

Before you purchase anything or make any decision for your business, it is important that you know the basics of what is, how it works and how it will help you run your business better, and this is also the case for when it comes to MYOB Advanced.

You need to know all the relevant information so you can make an informed decision that is the best for your business situation not only now but also hopes for the future as well. There are many solutions and options available for your business, to help make it better, so it is important for you to review all your options in order to make the best choice.

The FAQs listed below will help you understand MYOB Advanced better so you can make a decision if this solution is something that is right for you and your business! Have a read on below at some of the most important MYOB Advanced FAQs your should know:

What is MYOB Advanced?

Let’s start off with the basics why don’t we! MYOB Advanced is a cloud based solution has can assistance with business finances among other things. It is a cost effective solution, as you don’t require a massive IT budget.

MYOB Advanced has excellent scalability, to suit your current business needs, as well as flexibility; you can access it anywhere as long as you have an internet connect. MYOB is also highly secure and will save you a lot of time as you don’t have to manage hardware of maintaining software.

What is a maintenance window?

Woman doing an inventory in the warehouse

Another important question to answer before we get into the nitty gritty of costs and billing. Like a lot of online solutions there will be scheduled maintenance, and MYOB Advanced is no different. But the good news is that you should usually get at least a week’s notice so you can make your plans around this down time.

To top it all off, the maintenance window usually only lasts for an average of 30 minutes each and usually happens during an off peak time, so you may not even have the need to use MYOB Advanced during the down time.

While MYOB Advanced tries to limit the amount of maintenance down time, unscheduled maintenance can occur, but this tends to be very limited. If there is any unscheduled maintenance MYOB will make their best effects to let you know what is going on.

How do payments work for MYOB Advanced?

There are two categories that your bills from MYOB are based on. Firstly, your subscription fee, which is where you pay a monthly subscription fee (like you would for Netflix or anything similar) and your monthly subscription fee would be based on the package of MYOB you went with, as well as this type of user license chosen along with the number of users.

The options for MYOB are standard, plus and enterprise. This subscription fee also covers things like hosting costs, updates and upgrades, along with automated disaster recovery backup, which is very important if your computer gets a virus or hacked and all the information is compromised.

You may also be billed for additional resources, which kicks in once you have reached 90% of your resource usage for things like storage and you will receive a message from MYOB when this usage is getting close to capacity.

When does billing for MYOB Advanced commence?

New services usually only take 1 business day to commence, from the date of purchase agreement, although it could take up to 5 business days. The subscription agreement as standard, lasts for at last 15 months, after that it is month to month.