You might be using one or the other, but what do you know of the other side of the fence? Is the grass greener? We break down some of the features of two cloud accounting big-guns and make a call we think you might find interesting …
Here is our comparison of two of the heaviest hitters, Xero and MYOB – let’s get ready to ruuuummmbbllee!!
Xero VS. MYOB Essentials
|
Xero |
MYOB Essentials |
Winner |
Price |
Starter: $27pm
Standard: $54pm
Premium: $70pm (which covers 5 employees for payroll; higher cost for more employees) |
MYOB Essentials:
Lite: $24pm
Pro: $50pm
Plus: $120pm (unlimited payroll)
MYOB AccountRight
Plus: $120pm
Premier: $150pm
(both unlimited payroll) |
Xero
Whilst MYOB may be more cost effective for more employees, Xero has only the one pricing structure and is easier to follow |
Setup |
Simple and intuitive |
Simple and intuitive, however some of the more advanced features in AccountRight such as inventory and job management are only compatible with Windows |
Xero |
Accessibility |
Both PC and Mac |
AccountRight is designed for use with Windows only.
MYOB Essentials is compatible with both PC and Mac |
Xero |
Payroll |
The Standard package covers only 2 employees. The highest you can go is “Premium 100” for $163 pm and 100 employees. $2 per person after that with a maximum of 200 people |
Essentials ‘Pro’ offers employees for $1.50 per person per month. Plus offers unlimited.
AccountRight offers unlimited payroll across both packages. |
MYOB
There is no unlimited payroll option in Xero |
Invoicing |
Invoices can be customised.
Ability to track when recipients open invoices |
Invoices can be customised.
Ability to track when recipients open invoices.
Advanced customisation only available using MYOB AccountRight |
Xero. Slightly better customisation options for sending and tracking invoices |
Inventory |
All plans include basic inventory management. Integrates well with many third-party add-ons |
MYOB Essentials contains basic inventory tracking.
AccountRight offers advanced inventory management |
Xero. Their add-on integration allows more complex inventory management |
Mobile App |
iPhone and Android |
iPhone and Android |
Xero. Easier to use interface |
Foreign Currency |
Available on the Premium plan. Multi-currency bank accounts, sales, purchases and transactions |
Available with AccountRight Premier for use with purchases and sales only |
Xero |
Data Storage |
Get copies of original documents and key data into Xero automatically without manual data entry using Hubdoc |
Use the MYOB Capture app to photograph and upload paper receipts straight to your account |
It’s a tie. Both provide free access to their data storage options with any plan you choose |
Add-Ons |
There are more than 700 Xero addons available for businesses, to name a few: Direct Debit, POS, HR, Construction, Hospitality, Quotes, Cashflow |
MYOB offers hundreds of addons focused primarily on reporting, cash flow and industry specific |
Xero |
Online Support |
Community forums, online documentation, and training videos |
Community forums, online documentation, and training videos |
Xero. As they only offer one tier of plans it is generally easier to find the information you need |
Phone Support |
Not available |
Mon to Fri: 7am to 7pm
Sat to Sun: 9am to 5pm |
MYOB |
With that under our belt, there seems a clear winner (in our humble opinion…):
Xero – 7 to MYOB – 2
Now, although the scores from our assessment here may seem one-sided, we do have the skills to operate across the various cloud accounting applications available. Depending on your business needs and strategy, we tailor our service to suit you.
If you’d like to discuss the software you’re using and look at what might work better, we’d love to chat. Speak with one of the Attune team on 1300 866 113 or click here to start the conversation on email.
