MYOB gives accountants BPAY® billing power

19 February 2003 - In an industry first, MYOB today announced that accountants can now offer their clients electronic payment methods - including BPAY and Credit Card by Phone - using their MYOB Accountants Office practice management software.

General Manager of MYOB Australia, Andrew Fiori-Dea said that by providing such convenient payment options on their invoices, accountants will be able to close their billing cycle faster, reduce time chasing unpaid accounts and increase the operational efficiency of their practice.

"Electronic payments are fast becoming the most popular payment method, with cheque usage in Australia declining by around 50 per cent over the last four years," Mr Fiori-Dea said.

"With BPAY on their invoices, accountants are far more likely to get paid while their clients are making their other online payments, such as telephone and electricity bills," he said.

Clients will also have the option to pay their bills through POSTbillpay in person over the counter at over 3 900 Australia Post outlets across Australia, using cash or EFTPOS.

To set up these payment methods would generally cost thousands of dollars in establishment costs alone.

However, by subscribing to the MYOB Customer Payments Service, accountants using MYOB Accountants Office can now set up these flexible payment options for free.

The MYOB Customer Payments Service offers accountants many benefits including:

* Their clients' preferred payment options
* Improved cashflow - payments can be made 24/7 and appear as cleared funds the next business day
* Reduced accounts processing time and costs - payments are automatically processed and credited to the practice's account

"MYOB is committed to providing solutions that make it easier for accountants and their small business clients to work together," Mr Fiori-Dea said. "The Customer Payments Service is set to revolutionise how accounting practices bill their customers and - more importantly - get paid."

MYOB's Customer Payments Service is an easy-to-set up service that builds on invoicing features that are already in the latest release of MYOB Accountants Office.

The pricing of the Customer Payments Service is based on a monthly service fee and a small charge per transaction.

Further information is available at www.myob.com.au/payment_services or by calling
1300 555 111.

® Registered to BPAY PTY LTD ABN 69079137518

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About the MYOB Group

Founded in 1991, the MYOB Group is a leading provider of business management software for small and medium sized enterprises and accounting practices around the world.

MYOB has operations in Australia, New Zealand, USA, UK, Hong Kong, Singapore and Malaysia.

MYOB develops and publishes award winning software solutions that have revolutionised the way growing businesses view accounting and business management software. MYOB also provides systems and services targeted to the needs of public accountants.

The MYOB business product range includes MYOB BusinessBasics, MYOB FirstEdge, MYOB Accounting, MYOB Accounting Plus, MYOB Premier, MYOB AssetManager Pro, MYOB PowerPay, and the MYOB RetailManager family. The MYOB Accountants product range includes MYOB Accountants Office which contains Client Database, General Ledger, Time Cost, Debtors, Fixed Assets, Practice Management modules and MYOB Tax for tax return preparation and lodgement.

The MYOB Group is owned by MYOB Limited, a public company listed on the Australian Stock Exchange (ASX symbol 'MYO').

Media contact:

Sarah Douglas
Marketing Communications Specialist
MYOB Australia
Tel: (02) 9770 9065/0402 208 172
Email: sarah_douglas@myob.com.au

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