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MYOB Acumatica – All you need to know
ERP Software for Project Management and Accounting

ERP Software for Project Management and Accounting

Deliver projects on time and to budget with MYOB Advanced.

Precision, timeliness, customer communication, and adaptability are key areas of focus for project-based companies. Relying on manual processes to manage billable and non-billable timesheets, expenses, and multi-entity consolidation can hamper your efficiency and waste valuable resources. You risk errors and wasted time that can affect your ability to deliver the project on time and within budget. To get ahead and stay ahead of your competition, you need a software solution that can support your entire organisation. Large, complex, project-centric organisations use MYOB Advanced (Acumatica) to meet their enterprise-level project management, project accounting, communication, and reporting needs.

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What is MYOB Advanced for project-based companies?

MYOB Advanced is a modern, powerful, secure business management platform that can be configured to meet the needs of complex project-focused organisations. It is a cloud-based Business Management Platform localised by MYOB and powered by Acumatica – the world’s fastest-growing ERP system. It provides project-based organisations with a comprehensive set of tools for financial management, project accounting, expense management, revenue recognition, auditability and governance, customer service, and more. The software is designed to streamline business processes, automate tasks and other business events, and provide real-time insights into key performance indicators (KPIs).

MYOB Advanced is customisable and configurable based on its range of integrated modules and dedicated industry editions. Depending on your unique organisation, you may find that the Projects module of MYOB Advanced or a dedicated industry edition such as MYOB Advanced Construction or MYOB Advanced Professional Services is the best fit for your requirements. These different configurations all share common financial management, customer relationship management (CRM) and payroll and workforce management functionalities but differ in the way they can manage projects and job costs, estimations, compliance, and more.

MYOB Advanced has the functionality to support professional services organisations, engineering firms, marketing companies, law firms, and not-for-profit organisations.

MYOB Advanced Projects Module

The MYOB Advanced Projects module supports integrated project management functionality alongside powerful finance and CRM. It can manage the costs and profitability of your current projects with better planning and quoting for your future jobs.

Real-time visibility of billing, time, and expenses. Updated via the cloud so everyone is always working with the same data,
Support for external contractors, so all your data stays in one place,
The best predictor for future jobs is the ones you just completed. Use all the information on hand to provide accurate quotes based on data, not guesswork.

MYOB Advanced Construction

MYOB Advanced Construction gathers data from across your entire operation to give a clear picture of organisational health. Whether it is reduced administration time, greater control of costs, or real-time reporting, MYOB Advanced Construction will improve efficiency in your organisation and upgrade your construction software. MYOB Advanced Construction provides an extensive suite of connected engineering business applications, such as:

Job costing
Project management
Commitments and retentions

Daily field reports
Complex compliance and document management

Estimating and bidding
Reporting and analytics

Complete Construction Solution. MYOB Advanced has finance/distribution and construction and project management functionality to support the entire organisation.

MYOB Advanced Professional Services

MYOB Advanced Professional Services Edition recognises the unique challenges faced by professional services organisations. It is a seamless and scalable platform for enhanced efficiency, resource management, and client satisfaction. MYOB Advanced Professional Services is based on connected functions to better maintain client satisfaction and deliver projects on time and within budget:

Job management,
Finance management
Billing and Work in Progress (WIP)
CRM and Marketing
Advanced Payroll
Payroll expense allocations

MYOB Advanced benefits for project accounting

There are many key benefits that make MYOB Advanced the best ERP for project management:

Track multiple projects across multiple locations in real time,
Upload and track expenses with automated approval pathways,
Client information is organised and stored in one place, alongside billing and project information,
Multi-entity data management with support for intercompany and cross-company functionality,
A configurable, flexible Chart of Accounts with a subaccount structure that can be customised to fit your requirements,
Create a truly connected organisation, with different departments, entities, and groups working with the same data in real time,
Accurate forecasting and planning capability with real-time insights into project costs, profitability, and progress for improved estimates and bidding,
Cloud-based data encryptions securely access data from anywhere, at any time,
Manage and pay your entire team from a single integrated platform,
Control project costs by tracking spending and providing alerts when you risk going over budget,
Automate bank reconciliations with Bank Feeds functionality to facilitate a flexible billing process, including time and materials, fixed prices, and milestone billing,
In-built fixed asset management,
Deliver timely, accurate and highly segmented financial reports to board members and management,
Scalable with additional modules and licences to meet your organisation’s changing needs,
Cash flow improvements from the convenient monthly subscription cost,
Integrate a range of third-party add-on products to maintain a single source of truth for your data and enhance core functionality,
Multi-device accessibility – view your data from anywhere and at any time on any device,
Track compliance requirements across your organisation within a single system.

Importance of local software

There are many benefits to using a system that has been designed for your local region. All the idiosyncrasies of doing business in Australia and New Zealand will be familiar to you but not to overseas vendors. Their systems are not built to reflect the complexities that a local provider is more familiar with. MYOB Advanced has been specifically customised to meet the needs of Australian and New Zealand organisations.

MYOB is a stable and reliable local vendor. Your investment supports a mainstay in the Australian and New Zealand markets, as well as giving your organisation the local tools to surpass your competition.

MYOB Advanced features for project-based companies

Using an ERP for project management empowers your team to embrace efficiency and connects your data silos in one single source of organisational truth.

Resource management

MYOB Advanced gives complete visibility of your financial and non-financial resources, including those available or already allocated for projects. Real-time updates simplify the resource tracking process, with automated alerts to notify you when the budgeted resource is near consumption. Use these insights to predict and track future revenue throughout a project’s progression.

Expense tracking

MYOB Advanced simplifies the allocation of payroll expenses across specific projects or General Ledger accounts, eliminating the need to manually duplicate data across systems. Expenses, including payroll costs, can be allocated to project accounts, giving accurate costs for each individual project. Project expenses can be viewed and tracked in real time. Reduce manual data entry and speed up your accounting processes by automating bank feeds and creating predefined expense claims.

Task management

Manage and access complex client details with multi-entry and multi-location support, all in a central CRM. Capture and track new prospects as you nurture opportunities through to engagements. Keep in touch with your clients with newsletters, email campaigns, and notifications on mass or send them to specific clients and segments with marketing automation. Live dashboards help to track WIP jobs and due dates across the team, so everyone is up to date with the same project information.

Project budgeting

Build accurate budgets using information gathered from previous projects and jobs. Comparisons between budgets and actuals can be made in real time, supporting your decision-making and letting you make adjustments before budget issues become significant problems. Having an understanding of the resources that go into a project’s budget also allows you to plan and manage your team’s capacity.

Billing

Flexible billing arrangements let you bill materials and labour based on the type of work performed, project requirements or customer. Plus, your employees, partners and contractors can log timesheets anytime, anywhere.

Mobile App

Access MYOB Advanced from any browser or via the MYOB Advanced OntheGo app. Team-based collaboration improves dramatically when working in the cloud. You can work knowing the data you are using is up to date and consistent across different teams and workflows – no matter where you sign in.

Payroll and Workforce Management

With the integrated MYOB Advanced Payroll (formerly People) module, you can bring HR, operations, and payroll into one place. MYOB Advanced Payroll is an all-in-one management tool that calculates finances and labour costs, analyses trends, and creates detailed reports – all in real-time and integrated into MYOB Advanced and your General Ledger. It handles multiple pay groups and frequencies, leave requests and approvals, and automated onboarding. MYOB Advanced Payroll can handle the complexities of your project payroll requirements.

MYOB Advanced Workforce Management

Bring onboarding, rostering, timesheets, and payroll together in one seamless, automated solution. MYOB Advanced Workforce Management is an add-on module to MYOB Advanced Payroll that improves the efficiency of even more of your administrative processes.

Adaptable software for every professional services organisation

The MYOB Advanced platform has a range of integrated modules to meet your organisation’s specific requirements. You only include the modules you need, and they are individually customised to suit your workflows and processes. Modular systems are scalable to meet your changing requirements and can be added in even after your implementation as you continue to grow.

MYOB Advanced also supports the integration of third-party add-on solutions to further improve efficiency. Industry-specific products can be integrated to address specific functionality areas and create a unique system to match your unique requirements.

The integration of these native modules within MYOB Advanced (Acumatica) promotes data consistency, reduces manual data entry, and supports informed decision-making across different areas of the institution. It allows for seamless sharing of information among departments, leading to improved collaboration and efficiency. With MYOB Advanced, you can create a digital platform from which you can manage your entire organisation.

Overcoming the risks of ERP implementation

A successful MYOB Advanced implementation relies on managing risk. Project-based organisations should be aware of the 3 types of risk:

Software risk
Implementer risk
Self-Inflicted risk

MYOB Advanced is a reliable, stable, well-supported, powerful ERP system. It is well established as a good fit for project accounting due to its robust financial, intercompany, and multi-currency features and configurable subaccount structure. It has shown a strong return on investment for other organisations. To manage implementer risk, engage the services of a trusted, experienced, low-risk implementation partner.

Self-inflicted risk is perhaps the hardest aspect of an implementation for project management organisations to manage. Typically, the industry is held back by time constraints, tight budgets, and a lack of confidence and willingness to invest in business-wide operational solutions. It can be difficult to justify the allocation of funds to a new implementation as it takes the focus away from your latest projects. However, the efficiency gains from implementing MYOB Advanced can be substantial and lead to improved revenue and profitability in the future. Investigate the best ways to build an internal implementation team, including setting your project champion in our guide to building the best team for your implementation.

Software Implementation Risk Guide

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The Kilimanjaro Consulting team can help you manage these three areas of risk, ensuring a successful implementation and a strong return on your investment.

Our Services

Kilimanjaro Consulting has the largest and most experienced team of MYOB Advanced implementation consultants across Australia and New Zealand. We are skilled, low-risk implementers helping businesses overcome their challenges through the use of clever, innovative and proven technology. Our dedicated team takes the time to truly understand your organisation and customise MYOB Advanced to meet your requirements. We are experienced in implementing MYOB Advanced for project-based companies.

MYOB Advanced Implementation

MYOB Advanced is a complex, sophisticated business management platform. It requires in-depth solution design and configuration to meet your requirements and to add the most value to your organisation. While an MYOB Advanced implementation may seem like a daunting project, you can engage an expert implementation partner to guide you through to a successful outcome.

MYOB Advanced integrations and customisations

There is a vast array of specially developed connected services that you can integrate with MYOB Advanced to create a technology ecosystem. These systems are specifically developed to meet individual industry or departmental requirements and can further improve efficiency. MYOB Advanced integrations and customisations allow you to build a truly custom system for your organisation.

Business Process Improvement

Business Process Improvement (BPI) is a systematic approach to helping an organisation optimise its processes and improve efficiency. BPI is an integral part of any implementation. There must be an overall improvement in your processes; otherwise, your investment in new software will be suboptimal.

Targeted areas for BPI typically include:

Automating manual processes
Validate data integrity
Improved reporting capabilities
System integrations, if applicable, and
Process efficiency

MYOB Advanced Training and Support

Kilimanjaro Consulting provides in-depth MYOB Advanced training as part of our implementation process, as well as long-term guidance and support for our professional services clients.

We understand it is crucial to empower your staff with the right skills and knowledge to use your systems effectively. MYOB Training avoids wasting time and resources that cause inefficiencies within even the simplest of processes. We have a dedicated training portal for on-demand MYOB Advanced training options, as well as the skills to create bespoke training that is specific to your site and workflows.

Visit the Kilimanjaro Training Portal

The MYOB Support Sherpas will help guide you to the best possible solution if and when you face challenges with your systems. With decades of experience between them, the MYOB Support team take a collaborative approach when solving your issue.

For any MYOB Support case, we follow a structured methodology to minimise risk and solve your problem efficiently. Our MYOB Advanced Support team has developed a robust knowledge base grounded in their real experiences in finding solutions for our clients. Knowing more about your issue gives the team the ability to consider multiple resolutions. No matter if the query is small or large, our team will always endeavour to provide the best solution.

MYOB Advanced case studies for project-based companies

Kilimanjaro Consulting and MYOB Advanced have proven successful for a range of project-based organisations.

GoTransit Media Group

GoTransit Media Group is a market leader in the transit advertising sector. Operating across Australia, their out-of-home advertising reaches over 14 million people per day. They design, produce, and install advertising on buses, light rail, taxis, and other public transport options in 6 of Australia’s capital cities and over 400 regional communities.

GoTransit was struggling with the increasing transaction volume that came with its growth. They were raising thousands of invoices a month, a process that required heavy administration resourcing and was prone to errors. They needed a scalable system that could manage complex design projects with automation to drive their delivery goals at speed. Moving away from on-premise reliance was also a goal in the move to MYOB Advanced. GoTransit chose Kilimanjaro Consulting as their expert MYOB Advanced implementation partner.

GoTransit uses the Projects module of MYOB Advanced in a unique way to support the entire organisation. Download the case study to learn more.

MYOB Acumatica Case Study GoTransit

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Thompson Group

Thompson Group is a New Zealand-based construction and engineering business. They take on the entire construction process from 3D design, steel fabrication, precast and construction to property management.

Their old system lacked visibility across all facets of their organisation. Every year, the projects they secured were getting bigger and more complex, which meant more machinery and more staff needed. Thompson Group needed an all-in-one software solution that could grow as the organisation changed and connect project management to financial performance. Following the advice of their trusted business partner, Kilimanjaro Consulting, Thompson Group selected MYOB Advanced (Acumatica) as their new, future-focused, cloud-based business management platform.

Watch the video case study to discover how they benefitted from the implementation.

Chugg Entertainment

Chugg Entertainment has a legacy of over 50 years in the entertainment industry. They have produced events and managed tours with international acts such as Elton John, Alanis Morissette, UB40, Santana, Paul Simon, Robbie Williams, Coldplay, Bob Dylan, Radiohead, and Dolly Parton. In 2018, before they implemented MYOB Advanced, Chugg Entertainment sold over half a million tickets across 267 shows.

As they grew to become a global organisation, Chugg Entertainment realised they needed a cloud-based system to manage all ongoing tours. This global expansion meant they were also using disconnected systems to manage their tour accounts, which relied on manual data entry. This impacted their ability to consolidate reporting and communicate with external stakeholders. Revenue needed to be appropriately allocated to the correct tours, as well as all the road costs and other resources – a time-consuming process. Following our recommendation as trusted business advisors, Chugg Entertainment chose to implement MYOB Advanced as their new business management platform.

Download the case study to discover how MYOB Advanced supported Chugg Entertainment to improve efficiency.

MYOB Acumatica Case Study Chugg Entertainment

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MYOB Advanced for Project Accounting FAQs

MYOB Advanced is a complex and fully featured business management platform. Naturally, this leads to many frequently asked questions.

What is an ERP used for in project management?

Enterprise Resource Planning (ERP) systems are comprehensive software platforms that manage core business processes across various departments such as finance, human resources, procurement, supply chain, and manufacturing. They aim to provide a centralised solution for all aspects of an organisation’s operations, both financial and non-financial. Project-centric organisations benefit from having all data collected, stored, and available for analysis in one place.

The right ERP system can also manage time and expense tracking, payroll and resource allocations, project management, customer relationship management, and billing.

Why set up a cloud ERP for project management?

Moving from an “off-the-shelf” accounting system to an Enterprise Resource Planning (ERP) system brings significant efficiency benefits for your entire team. Avoid the biggest waste of administration resources by eliminating data duplication across disconnected systems with a connected business management platform. Capturing project, financial, payroll, and inventory data in one place improves visibility and report timeliness. When properly configured and implemented, a powerful cloud-based ERP system can improve efficiency and set your organisation up for future success.

How do I find the best ERP system for project management?

Book a free, no-obligation consultation with one of our friendly and experienced MYOB Advanced consultants. Discover how our team can support your organisation in your journey up the technology mountain.

Trust the knowledge and experience of an expert. Our team will work to understand your organisation and processes before providing open and honest advice about how MYOB Advanced can improve efficiency for your professional services organisation.

How long does an MYOB Advanced implementation take?

The length of an MYOB Advanced implementation varies depending on your individual requirements. You should anticipate a minimum of 3 months for the entire implementation project, from design through to testing and go-live.

Your relationship with an implementation partner should be a lifetime one. Choose the implementation partner not only with the skills to customise MYOB Advanced to meet your requirements but who will be there to support you through your lifetime journey with the system.

Do you offer MYOB Advanced professional services training?

MYOB Advanced Training is essential to get the most out of your system. Training is a dedicated objective in our MYOB Advanced implementation methodology and is delivered as part of your onboarding and testing with the new system. Our goal is to help you become self-sufficient in your system when you go live.

However, for new starters or those who need a refresher in their system, we also offer supplementary online training. In the case of MYOB Advanced, because every system is so different and unique, we curate ad hoc training to suit your specific build requirements.

What kind of MYOB Advanced support do you offer?

The support team at Kilimanjaro Consulting are MYOB Advanced experts. They follow a structured methodology to minimise risk and ensure your system works perfectly when the ticket is closed. Our team will always submit a written quote before undertaking any work, to ensure our support costs are clear and transparent.

Continuous support and Business Process Improvement help you get the most out of your investment in MYOB Advanced. Support rates are typically bundled into packages; however, you could also opt to pay for support by the time spent to resolve your problem – usually at a more expensive rate.

What are the costs involved when implementing MYOB Advanced for project management?

Just like the implementation timelines for MYOB Advanced, the implementation costs also vary from organisation to organisation.

Every MYOB Advanced site is different, and the price reflects this. Because you only pay for the modules or dedicated industry edition you use, and every organisation will use the system differently and with a different number of users, there will be variance between companies for the final cost.

An MYOB Advanced implementation will cost between $50k and $100k, depending on the individual requirements. More complex organisations could fit outside this range. Ongoing licence fees range between $2k to $5k per month.

Your organisation may be more or less complex than the exemplar. The best way to find out how much it will cost is to talk to an expert. Our team will attempt to understand the uniqueness of your organisation, how MYOB Advanced can best meet your needs, and provide a quote for implementation, ongoing licences, and support.

How will Kilimanjaro Consulting help my organisation to adopt MYOB Advanced?

You may not have gone through an implementation before, but we have. Kilimanjaro Consulting places a supreme focus on the minimisation and mitigation of risk in your implementation. We follow a systematic framework to guide clients and the implementer step-by-step through the process. Without a structured implementation methodology, the speed and sequence of steps will be confused, resulting in frustration and dissatisfaction. A structured methodology incorporates the lessons learned from experience, ensuring that the same mistakes will not be made again.

Get in touch today

The Kilimanjaro Consulting team are experts in configuring MYOB Advanced to meet the needs of project-based organisations. Our team includes CA, CPA, and ACA accountants, as well as experienced project managers. We understand your needs and have the skills to configure the system to meet your requirements. MYOB Advanced is a suitable and proven business management platform for project accounting and project-centric organisations. It provides a strong return on investment while also improving the efficiency and visibility of your most important data. Contact us to organise a free, no-obligation assessment of your organisation and whether MYOB Advanced is right for you.

Schedule a consultation

To start a conversation about how MYOB Advanced can improve efficiency in your organisation, email sales@kilimanjaro-consulting.com, or call 1300 857 464 (AU) or 0800 436 774 (NZ).