MYOB desktop or MYOB LiveAccounts

[Rony]

Hello everyone,

I am a sole trader and have recently started a business of supplying manufactured parts to various automotive companies. I have been watching this forum for a while and have noticed a lot good links about small businesses. Good work.

I have a small question. I was looking for accounting software and the 1st thing that came to my mind is MYOB. I was planning to buy MYOB Accounting Right but then I heard that MYOB is launching LiveAccounts next month. This will be very likely a monthly paid subscription.

I am just wondering whether I should wait for this new site or purchase the desktop model for the time being.

Regards

[Dardee]

What do you need to run your business? For instance, do you need:

• payroll?
• access at multiple sites?
• multiple users?

If your going online then take a look at XERO.

[sleepyoz]

Hi Rony

You will also need to decide whether you need to track inventory, manage, quotes, orders and invoices along with what Darren has already mentioned

[Rhys]

Hi Rony,

One more comment to add to those from Darren & Leanne.

You say you wonder if you should "wait for this new site [LiveAccounts] or purchase the desktop model for the time being". The problem with that is that LiveAccounts uses a different platform to MYOB's desktop products, so if you do start out with one of the AccountRight range you won't be able to open this file in LiveAccounts (you would have to export / import data which means whilst not difficult once you know how does hold a few traps). So you do need to choose an application and stick with it.

Good luck with the business venture,

Cheers, Rhys

[TheTrish]

Hi Rony,

I started my business about 4 years ago and started with E-record then needed a bigger system to handle re-occurring transactions and better management of client data so I purchased MYOB.

MYOB desktop is good if you plan to do ALL of the accounts however I am now in a position where I am working with a bookkeeper and accountant and it is really difficult to get them to work on the same file so I am looking at an online alterntive.

My Accountant told me about MYOB Live Accounts but at $35 per month I am probably going to go with Sassu as it was recommended on this article about MYOB live http://www.brisbanetimes.com.au/tech...0512-uwlw.html

I will need to do some more research, as I recommend you do, but there are a few better options out there than MYOB. The main thing is working out what you need to do with the software then choose the correct product for your needs. Just don't go with MYOB because you know it, it may not be the solution for you.

Maybe do a search on this forum for online accounting products to see what other people think?

Good luck

Trish
www.ingress.com.au

[Rhys]

There is also a good article in this month's PC User magazine (I don't think the article is available on line, at least I can't find it) that reviews a number of packages both desktop and hosted.

MYOB AccountRight comes out top in the desktop category (ahead of QB & others), whilst Xero was ranked #1 in the online options (ahead of Saasu, Cashflow Manager, B-Free, etc). The reviewer didn't rank MYOB's LiveAccounts as at the time of writing he didn't have a price available (but per various media reports this is expected to be around $35 per month).

Cheers, Rhys

[@HeatherSmithAU]

MYOB or XERO?

Hi Rony, here is a link to the FLYING SOLO article "How to choose accounting software" [I wrote it] if you answer these questions in the forum, we are in a better position to assist you.

Personally I would not be the first guinea pig to try any brand new software, unless it is free, or I am being paid for it.

[Susan.R]

Hi Rony
Have you looked at QuickBooks Online? Reckon have an amazing QuickBooks online product that is an extremely affordable yet is very comprehensive in functionality and easy to use.
The interface is very user friendly and logical and there are over 300 Accredited Consultants who can help you with the initial setup should you require assistance. Training is readily available in many different forms (one on one, classroom etc)
Have a look at this link http://home.quicken.com.au/Pages/Pro...e=56&pcatid=10
Good luck with your new business and I hope this helps you in your accounting software search.
Kind Regards, Sue

[Gillian]

Hi Rony

All the factors my fellow colleagues have given are important considerations to take into account when choosing your software. I would recommend you seek out a specialist in “traditional desktop software” and “web based applications”, ask each of them to give you a demonstration using your industry as a case study. Most software consultants will only be too pleased to offer support, suggestions and recommendations, download each free trial products of your choice. Then you can weigh up the pros and cons on which you feel comfortable with and will work for you, talk to your accountant and colleagues to find out what they are using. Choosing the correct software is not only an investment in money & resources but also your valuable time.
Recommend you look for software which is also compatible with your mobile phone, so you can have access and mobility. Most importantly whatever application you choose make sure you have someone who can train you proficiently and can offer support on an ongoing basis.
Software specifically for tradesmen which covers inventory, purchasing, scheduling, project management, stock control, invoicing, mobilizing business & customer service can be found with simPro /Acorn Software which has synchronizing system & links into an accounting application, using products like Xero, MYOB and QuickBooks.

http://sales.acornsoftware.com.au/wi...bile-xero.html
http://sales.acornsoftware.com.au/wi...-and-myob.html

I wish you all the best in your new venture.

[FCA - Glebe]

Hi Rony

if you are the only employee I would recommend you to get Xero, its the
easiest accounting software, you can actually import bank statements, get bank feeds and do the bank reconciliation so easy. Its just matter of time to learn Xero. You can also manage your personal finances with Xero. make sure you have different bank accounts and credit cards for your personal and business spending. Otherwise it would be nightmare for you and your accountant or bookkeeper. it is also compatible with Iphone or Blackberry. Check your finances and business anytime and anywhere.