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Accountants And Business Advice Perth

MYOB vs Xero: Part Two

Cloud based accounting has many advantages, but which software provider do you use? Last week we looked at the advantages of using MYOB cloud accounting software, but this time we’ll look at the advantages of using everyone’s new and favourite software Xero.

Xero is an online accounting software program designed for small businesses and is considered by many to be the world’s easiest accounting software and have earned themselves a very devoted and loyal client base.

So what are the benefits of Xero’s cloud based accounting?

  1. Fuss-Free Online Accounting and Accessibility:
    Run your business and access your accounts from work, home or on the go. Invite others to view your accounts and provide valuable real-time advice. Your data is completely secure even if your computer is lost or stolen.
  2. Compatibility
    Xero is seen by many to be “ahead of the rest” when it comes to compatibility with smartphones and tablets for entrepreneurs on the go.
  3. A browser-based approach.
    This means users can access all functions of the software from any device with a web browser. No need to install any software, simply load the browser, login everything is available. Whereas MYBO requires installation.
  4. Bank Reconciliation
    Get your bank statements imported and categorised automatically. Including credit cards, PayPal and support for over 160 foreign currencies. It’s effortless to keep your accounts accurate and up-to-date.
  5. Invoicing
    Get paid faster, receive updates when the invoice is opened and connect seamlessly with customers through online invoicing. Create professional repeating invoices and schedule bill payments to manage cash-flow. Payments, returns and credits are all tracked automatically.

To sum up, picking an accounting system is a vital yet often baffling decision for new businesses, at the moment, our firm uses both MYOB and Xero, as I’m sure is the case with many other accounting firms. Each product has their advantages, and so we leave the choice of the provider to our clients and accept the software decision that they choose to use. For us as long as our clients are on the cloud we’re happy, regardless of the software provider they choose to use.

Let us know what you think, and if you have any questions don’t hesitate to contact us on (08) 9474 6333!

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