MYOB, Xero and Quickbooks – Which one is Better?

By Bottrell Group on May 29, 2015 in Australian Tax Office Updates, Hints & Tips, Interesting Articles

MYOB, Xero and Quickbooks are top accounting software programs for SMBs (Small-Medium Businesses) in Australia.

MYOB Xero and Quickbooks:

Similarities

Their first similarly is that they are designed for SMBs. Additionally, both programs may be hosted by a developer and be accessible over the internet.

Differences

MYOB AccountRight Basics offers a plan B hosting option: an on-premise solution. This allows users to host MYOB on their own servers. There is a clear advantage to having an on-premise solution—you have total control. This does not happen with a Xero’s only online solution that may be subject to multiple downtimes, insecurity and poor performance. QuickBook is popular for its ability to save supplier and customer data together for easier access.

MYOB Xero and QuickBooks – Strengths and weaknesses

MYOB Strengths:

• It has inbuilt tax features that lets you compute taxes at once.
• It provides a great billing and invoicing system.

MYOB weaknesses:

• Does not support fixed assets, fund accounting and project accounting fully.

Xero strengths:

• Xero offers a very robust fixed accounting system with barcode and RFID tracking feature. This tracks even the tiniest physical features.
• Xero offers a wide range of core accounting solutions