Choosing Your Bookkeeping Software
Choosing the right accounting software can be a daunting process. Every business has different accounting needs to suit their individual business structure. Get it Right Bookkeeping specialise in both MYOB, QuickBooks and Xero bookkeeping software, both being excellent accounting software solutions. Your business might have special reporting needs, a complicated inventory or a unique way of operating, whatever your business it is important to consider which program would work more effectively.
MYOB, Quickbooks or Xero?
Here are some key points to consider when choosing the right bookkeeping software for your business.
- What we recommend is
- The key features of Xero include automatic bank and credit card account feeds, invoicing, accounts payable, expense claims, fixed asset depreciation, purchase orders, and standard business and management reporting. Xero can automatically import bank and credit card statements. It offers a free API that enables customers and 3rd-party software vendors to integrate external applications with Xero. Over 275 3rd-party software vendors have built Xero add-ons. Xero also supports multiple tax rates and currencies. It also incorporates a payroll feature for users in the Australian and United States markets.
We are Xero certified. The 1st two months are Free, Easy Conversion from MYOB and Quickbooks, Monthly Subscription starts at $50.00 per month, No need to spend thousands of dollars of accounting software.
- Features and Benefits
- You can download free demos for both MYOB, QuickBooks and Xero Websites to help you determine which program is best for your business. If you have any characteristics unique to your business, test the demos to see which product performs best. For example, non-profit or community organisations might prefer the advanced budget features in QuickBooks while businesses with inventory in multiple locations might benefit more from MYOB.
- Cost Comparison
- If you’re comparing the prices of different MYOB, QuickBooks and Xero products remember to factor in the price of annual support. Support is vital, especially at the beginning, and having help a phone call away can be a lifesaver. Having a firm understanding of the software will allow you to make the most of its features. It is important to consider the cost of annual support as it can equal the initial cost of the program, plus more of ongoing fees. You don’t always need to upgrade accounting software every year, but if you have employees, you’re often forced into the upgrade in order to get the latest payroll tax tables.
- Will You Need Add-ons?
- It is important that your accounting software can communicate with the other computer programs in your office for optimum functionality. For MYOB, you can find a list of add-ons by visiting the MYOB Add-Ons page. For QuickBooks, visit www.quickbooks.com.au or contact their customer service line to ask about add-on products. For Xero, visit www.xero.com
- Mac or PC?
- In Australia, MYOB FirstEdge and MYOB AccountEdge are the only small business accounting software products available for the Macintosh platform. QuickBooks is only available for the Macintosh platform in the United States. Xero suppors Mac, Windows, iOs, and Android. This might limit your decision.
- Talk to Your Accountant
- If your accountant prefers working with one product in particular, then you’ll probably minimise accounting fees by following their recommendation.
- Bookkeeping Training Consultant
- In most Australian cities, both MYOB and QuickBooks have an excellent network of trainers with multiple venues hosting regular training courses. However, consultants are significantly scarcer the further rural you live, and so it pays to find out what the local support consists of, and which product is supported best in your particular locality.