MYOB Accounting v18 on Clearance for $100 was $248 - Big W Carindale
MYOB Accounting v18 on Clearance for $100 was $248 - Big W Carindale QLD
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stevecau on 29/08/2014 - 15:57 files.ozbargain.com.au (231 clicks)
Last edited 29/08/2014 - 16:15 by 1 other user
Last edited 29/08/2014 - 16:15 by 1 other user
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Whats Xero like? Thinking of switching to it as our cloud POS is supposed to support Xero integration.
At the moment… a pain in the @$$! But only because we've just migrated from MYOB!
It's going to take a little getting used to, and setting up custom invoices etc. again, but from all accounts I've heard (online and from business friends) it's a lot better and more adaptable to differing environments!
And it would seem that as they're the new kids on the block, they've picked apart the best parts of MYOB, Quicken, etc. and seem willing to listen (and sometimes act) to what people actually want/need from their software!I work as an accountant and implemented both Xero & MYOB solutions for clients.
The only reason why I would ever recommend MYOB v18-19.9 is it's ability to make M-Powered payments through the software - this essentially means that you don't have to reconcile your payables. MYOB does offer M-Powered statements but I find it has 2-5 business day lag - really annoying when your checking to see if you've been paid & manage cash flow.
MYOB Live (competing product against Xero) has live bank feeds & utilises BankLink but has the same down side as Xero - there is no dedicated payment module.
Xero is good because of it's reconciliation feature + multi-user access. Has bank feeds which comes in daily for most large banks & you can create rules to allocate certain transactions to an account e.g. on the statement text it says "BP Petrol", your bank rules will automatically pick that up and allocate to to Petrol expenses.
Xero is great but the monthly pricing fees are a bit steep…ask your accountant if they are a Silver or Gold partner with Xero & hopefully they will pass on the 10% savings onto you :)
My book-keeper has been using Zero for one of her clients after years of MYOB experience. She believes Zero is configured back to front and is difficult to use. She much prefers MYOB. She also worries about having all of your accounting data stored on a cloud server in the event Zero goes belly up; how would you retrieve the data other than more expense and stress?
Your bookkeeper is worried about her job. Xero cuts back the time needed to reconcile bank accounts, as it gets a bank feed. Also if you are a bit savy you can pay payroll and suppliers in bulk with an .aba file.
As for having all your data in the cloud. You can just download a detailed general ledger to csv or PDF. Does your bookkeeper keep offsite backups of her clients myob data files? The biggest advantage about the cloud is there is only one data file worked on by everyone. Ie your bookkeeper, accountant and yourself can all be doing stuff in the one file. Where as Myob you create a backup and give that to your accountant and then there is two files being worked on.
This is very much a bargain. Business Basics used to be $100 and now they don't sell it anymore forcing people to either buy outright or subscribe which costs at minimum around $400. Bargain in my books!
Only problem with buying MYOB outright, which we did three times, is having to repurchase it just about every other year when we have tax changes!
Myob cahrges a fortune for tax tables, they wanted me to pay $840 each year for support and tax tables. I don't use their support, so $840 for tax formulas which they get free from the tax office is criminal!! I found I can get the tax tables from fghtables.com and upload them into MYOB, costs $66+GST. Can only do this for MYOB versions upto v19.9 after that MYOB found a way to stop 3rd party tables being used (which actually slows down MYOB) so that they can continue their extortion.
Yep beware the pretty much mandatory subscription so you can get the tax table updates.
Xero ftw
Which would be better for an ecommerce or online store?
Xero or MYOB?
An accountant I know was telling me more and more of his small business clients were moving towards Xero….
I'd use Xero too, but I'm cheap and use my own spreadsheets instead… :)
How does this deserve a down vote? the guy knows how to save. .
You can pretty much do anything with excel.
I know first hand that Xero integrates with PayPal for invoicing if that helps, and is pretty good for multi currency too albeit that functionality costs over $60 a month.
I know first hand that Xero integrates with PayPal
I think that costs extra, as with other payment solutions…
No still 2.4%
18? Only if it allows you to upgrade to the current version for free!
Ps. Got sick of the needed upgrades to MYOB, so did our Accountant, recently switched to XERO!