If you would have asked this question 5 years ago the answer would have been MYOB but the way Xero has Changed the Bookkeeping in the last 5 years it is mind blowing, Xero has totally changed the way the Bookkeeping is done and it’s not about the Xero alone but also the Eco System that has been created by Xero is great if there is something that is not available in Xero it can be easily purchased with a click of button. Now MYOB is also following Xero’s Path and now they have a similar product called MYOB Essentials but there is a big difference in the Quality of the Online Software itself (though MYOB Essentials is cheaper than Xero).
When comparing MYOB and Xero we also need to keep in mind the Bookkeeping requirements of the Business Owner as well, as Xero in some instances is not suitable, let say if you need proper Inventory maintained in the Accounting software (though Xero has improved a lot in Inventory lately) I would recommend MYOB Account Right, though it is not a full online Version but it is a mixture of Online and Desktop Accounting,
Whether one is better or the other, a lot is dependent on one’s requirements and it should be thought seriously before choosing the software as it can not only save you $000’ in the long run but also can change the way your Business Bookkeeping is performed.
The final winner in this war between Xero and MYOB is the Small Business Owner, as what was only affordable for Medium/Big Businesses 5 years ago is now affordable for small Businesses provided a proper set up is done.
The following are the key Differences between MYOB Essentials and Xero,
| Particulars | MYOB | Xero |
| Access | 100 % Cloud | 100 % Cloud |
| Quotations | Different Options Available | Yes and you are updated when it is accepted |
| Employee Expense Claims | Not Available | Yes Available |
| Employee Login | Add on Available | Inbuilt into Xero |
| International Currency | No | Yes |
| Reconciliation Complexity | OK | Very Easy |
| Reporting | OK | Much Better |
| Backup | Regular Backup | Regular Backup |
| Price | From $29 | From $25 |
| Support | OK | Great (Only by Email) |
| Debtor Management | No | Yes (Can schedule reminders) |
Conclusion:
There are many other benefit of Xero & MYOB over one another, as mentioned earlier it is very important to know the Bookkeeping Requirements, to know which one will work best for the Business. We Provide Xero Bookkeeping Services in Perth and can setup as well as can do the regular Bookkeeping
So Get in touch Now to get these Xero Benefits in your Bookkeeping