| FEATURE |
XERO |
MYOB |
| ACCESSIBILITY |
- Browser-based approach that allows users to access the software and all its functions using any device, as long as there’s internet connection.
- The level of accessibility makes Xero a convenient tool for both the business owner and his or her team.
- You won’t have to worry about upgrading and purchasing a series of versions because all upgrades are automatic, with no extra charge.
- Requires its users to install the application to access the accounts’ files.
- Because it’s been around longer than Xero, most Australians are already familiar with its interface. Therefore, the learning curve is not so steep.
- Updates require both the client and his or her chosen users to use the same version to be able to collaborate seamlessly.
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- Requires its users to install the application to access the accounts’ files.
- Because it’s been around longer than Xero, most Australians are already familiar with its interface. Therefore, the learning curve is not so steep.
- Updates require both the client and his or her chosen users to use the same version to be able to collaborate seamlessly.
|
| DATA BACKUP |
- The backup feature is only available as long as you don’t cancel your subscription.
- Xero only retains your data for seven years after your subscription is cancelled.
- You can easily download and backup all your data on your computer.
- Both the business owner and its chosen users can have multiple “snapshots” of their account.
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- You can easily download and backup all your data on your computer.
- Both the business owner and its chosen users can have multiple “snapshots” of their account.
|
| SPEED |
- Allows users to do various tasks all at once through multiple tabs.
- Loading delays are not a problem.
- Reporting can take around 45 seconds longer than in Xero.
- Only one thing can be done at a time.
- Programs “freeze” while a transaction is being processed.
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- Reporting can take around 45 seconds longer than in Xero.
- Only one thing can be done at a time.
- Programs “freeze” while a transaction is being processed.
|
| PAYROLL |
- Subscription levels are based on the current number of staff for a specified month.
- Follows a payroll “calendar” philosophy.
- Allows the client to run an “unscheduled” pay run outside of the normal pay run calendar.
- Taxes employees accordingly—during scheduled and “unscheduled” pays.
- Lodges the TFN declaration to the ATO from within the program.
- Staff can access their own private employee portal.
- Separates payroll register and the general ledger.
- Provides timesheets that lead to time-billing on invoices.
- Saves double entry of payroll timesheets.
- Invoicing can be done separately.
- Allows users to run a payroll for any team member during any frequency at any time.
- Posts journals automatically and seamlessly after each payroll.
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- Provides timesheets that lead to time-billing on invoices.
- Saves double entry of payroll timesheets.
- Invoicing can be done separately.
- Allows users to run a payroll for any team member during any frequency at any time.
- Posts journals automatically and seamlessly after each payroll.
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| BANK RECONCILIATION AND FEEDS |
- The first to offer automatic and integrated bank feeds.
- Provides a daily bank reconciliation feature.
- Follows appropriate bank rules and cash coding.
- Acquired Banklink, which provides bank reconciliation.
- Features are limited and not as streamlined as Xero.
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- Acquired Banklink, which provides bank reconciliation.
- Features are limited and not as streamlined as Xero.
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