Decision making can be difficult enough as it is. It’s even harder when you’ve got two great choices to choose from. Do you pick market-dominating providers like MYOB or fast-growing new software like Xero? Let us help! Our team at Forward Focus is always looking for new opportunities to widen their knowledge on new and existing software so we can better advise our clients.
Picking the provider which suits your business best comes down to more than price. But what are the differences between these two accounting solutions? This two part article outlines the key differences between the two. The first part will look at the advantages of using MYOB and the second part will look at the advantages of using Xero.
MYOB started out over 25 years ago with a clear vision … to make business life easier. Designed to help you to be more productive, giving you more time to build your venture or to enjoy life outside work. They continued to invest over $20M each year in enhancing and extending their business solutions as well as investing in new products and services that use the power of the cloud.
So what are the benefits of MYOB’s cloud accounting solutions?
MYOB interface is the same that the majority of Australians have grown used to over the past 20 years, so there is very little learning curve, as opposed to learning new software procedure with Xero.
2. Flexible and Accessible
Stay on top of your business when and where you want. Anyone, anywhere – if you have teams in multiple locations or a remote bookkeeper they can (with your permission) work on your accounting data, saving time and increasing efficiency. This shares a similar benefit with Xero, however you still need to install software to access MYOB.
3. Bank Feeds
LiveAccounts and AccountRight Live automatically link to over 100 banks and building societies in Australia and New Zealand. They will automatically bring your bank transactions in and allocate them to the right account, reducing data entry and saving you time.
4. Safe and Easy
You can use MYOB’s cloud solutions with the confidence that your vital business information is automatically backed up in a secure offsite location. Xero does not have a backup feature as such, however many argue whether backing up is relevant.
What do you think, Xero has had a huge head-start on MYOB in bringing accounting for small business to the cloud. But with recent upgrades, is MYOB finally starting to catch up? Tell us what you think and make sure to stay tuned for part two – the advantages of using Xero.