MYOB Introduces MYOB Plus Version 12

- New feature advantages to make minding your own business easier than ever –

October 9, 2002 (Rockaway, NJ) MYOB US, Inc. today announced version 12 of MYOB Plus, the award-winning accounting and business management software for small businesses.

"We're proud of the strength and quality of MYOB Plus in providing the tools for making business simpler and more successful," said Cynthia Mackewicz, General Manager, MYOB US, Inc. "Version 12 is a tremendous step forward in providing increased workflow efficiency with an aim toward improved profitability for the small business owner."

A multi-user ready product developed for the Windows operating system, MYOB Plus includes features and functionality derived from the wish list completed by MYOB customers, focus groups, MYOB Certified Consultants, and on-site visits to small businesses. These groups conveyed the very real need of business owners for comprehensive, reliable financial information automatically derived from daily business procedures that are easily and quickly completed. MYOB Plus version 12 provides this and much more. A small sampling of the new features includes:

Cash or accrual-based Balance Sheet and Profit & Loss reports let business owners consider their company's financial picture from both perspectives with the flexibility to switch from one to the other.

Expanded Inventory management is a definite must-have feature for item-based businesses. Working through a new Items Register, MYOB Plus creates an inventory audit path that shows exactly how the inventory arrived at its current quantities and values and provides running balances for quantity on hand and current item value. It tracks inventory movement, both cash and non-cash, letting the user view the inventory transaction detail; recaps and reconciles inventory value as of past dates; allows editing and modifying of inventory transfers and adjustments; and includes an Item History report and an Inventory Reconciliation report.

Category tracking follows company profits through multiple lines of business, funds, departments or other categories and provides a full set of reports specific to each category. MYOB Plus will track a category for all of the time or for just a specific period of time, and will assign categories to all transactions or for just those selected, making this feature powerful and flexible.

A revamp of the report viewer makes it easy to customize the way reports are viewed on screen with a print preview, scaleable columns, quick filter tool bar, drag and drop columns and more.

A memo field on each line of cash allocation transactions tracks why money was spent or from where it was received. MYOB Plus users will enjoy the new memo-per-line feature that accepts up to 255 alphanumeric characters for each line on the Spend Money, Receive Money or General Journal entries.
Business owners new to MYOB Plus can be assured that version 12 retains the signature features and functionality for which it has won critical acclaim. These features include: professional time billing; multiple currency accounting; links to Microsoft Word and Excel; emailing of reports and forms in PDF format; an item pricing matrix; importing of downloaded online bank statements for fast bank statement reconciliation; powerful payroll with vacation tracking; 177 customizable reports; and banking, sales, purchases and inventory registers that provide task completion in a single location.

MYOB Plus version 12 users can take advantage of the easy import of the payroll file from the new MYOB SurePayroll online payroll service. MYOB SurePayroll is a cost-effective, reliable and simple-to-use online payroll service that includes payroll processing, tax filing and reporting, direct deposit and more.

MYOB Plus offers cross platform company file compatibility with MYOB AccountEdge for Mac. This allows an MYOB Plus user to open an AccountEdge company file and vice versa. As part of MYOB's effort to support their customers' accountants, MYOB offers a free copy of MYOB software for a new user's accountant.

MYOB Plus is part of the family of MYOB products that includes MYOB FirstEdge for the Mac, a basic accounting product for businesses; and MYOB AccountEdge for Mac, the sister product to MYOB Plus.

Priced at $229, MYOB Plus version 12 can be ordered now for a scheduled ship date the first week of November. Multi-user workstation licenses are priced at $99 each. To place an order, call MYOB Customer Service at 800-322-MYOB(6962) or on the MYOB web site at www.myob.com/us, where you can also learn more and see a demo.

-End-

MYOB US, Inc. is a subsidiary of MYOB Limited, Australia and one of the MYOB Group companies with affiliates and publishing partners worldwide in the United States, Australia, the United Kingdom, Mexico, New Zealand, Hong Kong, Singapore and Malaysia. The companies have helped more than 400,000 small businesses manage their businesses more efficiently.

MYOB, and the MYOB logo are registered trademarks of MYOB Ltd. Other products may be registered trademarks of their respective companies.

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