Are you looking to purchase some accounting software but aren’t sure which one is best for your business? If so, don’t worry. Please read below as we do a comprehensive comparison between Xero and MYOB to help you out with this important decision.
Xero and MYOB are two great cloud computing programs that aim to make accounting simple for small and medium-sized businesses.
These systems take away a lot of the complexity of both accounting itself and managing software. However, which one is the best choice for your business? Let’s take a look at each one in more detail below:
Xero is aimed at all segments of the market and is focused on being easy to use and learn.
It focuses on the most important features – stock processing, purchase orders, expenses, etc. Xero allows users to send invoices and accept payments through credit and debit cards, PayPal, and payment gateways.
Xero is aimed at small businesses, however it still has extensive features such as asset management, invoicing, and multi-currency support, leading to it working well with larger businesses with international clients.
Subscriptions range from $9 to $150, with the pricing being subject to which features you need enabled, and how many people you need to pay.
MYOB stands for Mind Your Own Business. Like Xero, there are differing subscriptions with different criteria. MYOB Advanced features CRM, service, inventory, payroll, manufacturing, distribution and more all in one platform. It is a scalable and powerful solution.
It lacks the range of features that more serious accounting platforms have, but the affordable price and ease of use mean that it is well worth a look.
If you find that you are looking for more customisable charting options then maybe it’s time to upgrade to a more serious, data-heavy accounting program.
MYOB can range from $29 to $99 a month, it merely depends on what features you need enabled.
Can You Transfer MYOB To Xero?
It is possible to transfer from MYOB to Xero, however done in the wrong hands can lead to a multitude of errors and a monumental amount of work. It is essential to have the transition done by someone proficient in Xero conversions.
Which Should You Choose?
Both MYOB and Xero are cloud-based with the option to access services from any modern device with an internet connection. There are free trials available, and the monthly prices are tiered based on the size of your business and the features you need.
MYOB was originally the big player for accounting software, however Xero is proving to be “the new sheriff in town” due to its exponential growth over the past few years.
Xero has also had better reviews in the user interface department with mobile devices. This feedback has come from people in industries where constantly getting to a computer is easier said than done.
If you’re looking to switch to Xero, or would like our opinion as to what system would be more suitable for you, contact Link Advisors and we can let you know our thoughts.