MYOB’s AI gets a name, Iris: what it can do in your books

If you do your books in MYOB, you can now type “How’s my cash flow looking?” and get an answer. Its AI tools have a new name, Iris, and more of them are on the way.

MYOB announced Iris by MYOB on 19 October. It isn’t a separate app. It’s the name for the AI built into MYOB’s software for small and medium businesses in Australia and New Zealand.

“Iris by MYOB makes AI an embedded part of the experience rather than a separate destination,” chief executive Paul Robson said.

Three things it does now

MYOB says Iris starts with three kinds of help:

• Help inside everyday tasks. That includes AI BAS preparation, smart bank reconciliation and category suggestions.
• Insights it brings to you. AI Business Insights flags things in your numbers without being asked.
• Answers when you ask. Ask Iris lets you ask questions about your business data in plain English.

The launch release calls Iris “agentic”, meaning AI that can take actions. MYOB says it will grow over time “beyond insight and guidance to support more sophisticated actions and outcomes”, with owners staying in control.

Ask Iris looks, but doesn’t touch

Ask Iris, previously called AI Assistant, gives read-only answers about income, expenses, cash flow, profit and outstanding invoices. MYOB says it “can’t make changes to your file, settings or business data.”

It works in MYOB Business Lite, Pro and AccountRight browser. MYOB’s product page says it’s available now, while its help page still labels it a beta.

On privacy, MYOB says Ask Iris doesn’t use your business data to train AI models. The data is processed in Australia and isn’t shared with third parties. That promise is written for Ask Iris specifically, not the other features.

AI BAS does the prep, you approve

AI BAS is the feature that changes your books, once you approve. It’s in beta for GST-registered Australian businesses on MYOB Business Lite and Pro. For now it handles simple, quarterly, cash-based BAS.

It flags missing receipts on expenses over $82.50, checks GST treatment, spots unusual or personal transactions and matches bank transactions to documents. For employers, it also prepares PAYG withholding. You or your adviser approve, edit or reject each suggestion, and MYOB says “your books will only update with your approval”. You or your BAS agent still lodge it.

It isn’t free. At launch, AI BAS costs $25 a month, or $30 if you employ staff. It comes bundled with Lite at $7 a month or Pro at $14 a month, on a 12-month commitment.

After the first year, Lite goes back to $35 a month and Pro to $70. AI BAS is then priced by how many BAS transactions you have, from $25 to $75 a month.

Other features, and who gets them

AI Business Insights is in beta for selected Pro and AccountRight browser customers in Australia and New Zealand. Only administrator, accountant or bookkeeper roles see it, and it updates at most once a day per file.

Smart Reconciliation matches transactions in the background for you to review, and is rolling out to eligible customers. MYOB’s AI page also lists smart invoice reminders, and notes that “availability varies by feature and plan”. The New Zealand page lists the same tools, minus AI BAS.

MYOB hasn’t announced a separate price for Iris or Ask Iris, and its launch material doesn’t say which AI model powers them.

MYOB also offers a read-only MYOB Connector for Claude and ChatGPT, much as Xero now works inside Google Gemini. If you’re choosing software, our comparison of Xero, MYOB and QuickBooks prices for sole traders sets out what each entry plan costs.

Checklist

• Check you’re on Lite, Pro or AccountRight browser. Ask Iris isn’t offered in other MYOB products.
• Try a question in Ask Iris. Ask about cash flow, profit or unpaid invoices; MYOB says it can’t change your file.
• Check each AI BAS suggestion before approving it. Your books only change when you or your adviser approve, and you or your BAS agent still lodge the BAS.
• Work out the cost after year one. AI BAS moves to $25 to $75 a month, depending on transactions and whether you employ staff, and Lite and Pro go back to $35 and $70.
• Check user roles for AI Business Insights. Only administrator, accountant and bookkeeper roles can see it.
• Don’t assume every AI feature has the same privacy promise. MYOB’s no-training, processed-in-Australia statement is written for Ask Iris.