MYOB vs Xero
With the arrival of cloud-based accounting systems, MYOB’s long supremacy has been challenged but choosing a suitable provider for your business comes down to more than price.
Every provider looks better than the other and it’s difficult to choose one. The leading competitors in the Australian market are MYOB, Xero, Quickbooks, Reckon and Saasu.
Selecting an accounting system is imperative yet a perplexing decision for new ventures, especially as the players aim to attract start-ups with free demos that can be converted into paid ones in future.
The outstanding performance of Xero shares depicts the significant change that cloud-based accounting and bookkeeping is bringing to our accounting practices. Xero is leading the way when it comes to ease of usability on smart-phones and tablets. But most providers usually recommend a range of systems to the clients based on their needs, as the Xero product on its own would not be sufficient. It may need some add-ons, like those included in MYOB.
A more hybrid model is provided by MYOB. Some businesses may sync it and choose to use it offline as per their requirement which is not possible with a cloud based solutions.
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