Choosing Business Accounting Software

[bluepenguin]

I don't know anything other than MYOB, so I can't help you decide... But I can tell you that although it's one of the more painful things you'll experience in life, it is possible to set up flashy looking invoices, statements, etc. in MYOB.

Being in the graphic design industry, I'm in the same boat in that I can't be sending dodgy looking invoices out.

[nominal]

Originally Posted by bluepenguin

...the more painful things you'll experience in life, it is possible to set up flashy looking invoices, statements, etc. in MYOB....

How about using Microsoft Word (.docx) or OpenOffice to create any kind of invoice, purchase, payslip, statement you need?

[Brenton]

Does anyone use or have an opinion on the online system Xero? My accountant has recommended it to me and I would be interested in any thoughts out there.

[Rhys]

I had a guy come into my office one morning a few weeks ago at 10am - he was about a month into running his first business.

I demonstrated a solution to him, which took about a half hour. He liked it & signed up.

He & I then logged into his bank account, downloaded his bank transactions, imported them into his new accounting solution and reconciled them. Whilst we were in his bank account we activated his direct bank feeds (so now his bank transactions feed into his accounting solution daily).

I gave him a brief training session on invoicing and various other aspects of the system.

All of this took about 45 minutes.

We had a quick social chat about the upcoming footie season, and he left - at 11.25. He has not called me once with a problem since, his accounts are up to date as at yesterday!

Fo anyone who hasn't guessed the solution is Xero.

Cheers, Rhys

[Alexandar]

If your after fast, free, no frills accounting software that can be accessed anywhere you should have a look at www.freeaccountingsoftware.com.au.

Decent if your not prepared to spend any money. You can also load/export your accounts data in XRBL (a common accounting format) for use in other systems.

Also, while office 2007 is a good software package you can always try www.openoffice.org.au for an open source alternative.

[MelissaN]

Originally Posted by Brenton

Does anyone use or have an opinion on the online system Xero? My accountant has recommended it to me and I would be interested in any thoughts out there.

Hi Brenton,

I am in love with Xero. Viridity explained a bit and they come highly recommended from Xero and I have only just started up my online bookkeeping business and depending on client's needs, will probably push Xero.

However, I have also become a partner of Saasu. It's not as pretty but works in a similar fashion.

Overall, I really, really do not like Quickbooks. Some people swear by it but I've never had fun with it.

I've used MYOB most of my life and it is really easy to set up invoices in there.

I set up my own invoice template in Xero the other day (custom docx files) and once I figure out how to merge fields, it was much easier, but took about an hour for me to realise I could merge. Now I know, it's fine.

Setting up invoices in Saasu is not as easy as it is coded through html. If you know html, awesome. If not, the invoices aren't very pretty. They'll do, but eh....

Have a look at www.xero.com and www.saasu.com and play with the free trials. Muck around as much as you like and there are also videos on the site to show you the basics (at least with xero).

I haven't yet looked at other online solutions as I don't exactly want to sell hundreds of products, just a few as long as they reflect the needs of clients. If they don't, I'll go researching.

[22523#deleted]

As a QuickBooks Trainer for 11 years I have found this a great program to work with. I have recently taken on a contract that requires me to use MYOB Premier and the more I use it and get into the nitty gritty of the operations of the program the more I hate it.

I find with MYOB that it can hold alot of information but it cannot give it back to you via reports, they are extremely limited without the ability to create your own. As for exporting data to Excel for reporting or mail merging, extremely limited or comes across in rows rather then columns.

QuickBooks however, with an experienced trainer, can be manipulated in so many ways to suit your needs. Almost any field you can add in you can get back in reports in one way or another.

As the two programs are similar in price, I would advise QBooks, always.
If you find a trainer who specialises in QBooks you will have a valued resource.

[MelissaN]

Originally Posted by Debonair

As a QuickBooks Trainer for 11 years I have found this a great program to work with. I have recently taken on a contract that requires me to use MYOB Premier and the more I use it and get into the nitty gritty of the operations of the program the more I hate it.

I find with MYOB that it can hold alot of information but it cannot give it back to you via reports, they are extremely limited without the ability to create your own. As for exporting data to Excel for reporting or mail merging, extremely limited or comes across in rows rather then columns.

QuickBooks however, with an experienced trainer, can be manipulated in so many ways to suit your needs. Almost any field you can add in you can get back in reports in one way or another.

As the two programs are similar in price, I would advise QBooks, always.
If you find a trainer who specialises in QBooks you will have a valued resource.

I think you are the first person I've seen who loves QB.

MYOB is less of an inventory, tertiary industry program in comparison to QB. I think QB works well for businesses with inventory whereas MYOB isn't as good.

As the Accountant, I want to see the report without having to format one, what the debtors and creditors @ 30/06 is including the GST. The one client we have on QB for this reason teaches me how to use it.

However, I wouldn't say just use QB or MYOB or Xero or anything based on price. QB and MYOB are an upfront and annual cost, where as Xero and Saasu are a monthly cost but overall, in 1 year, are comparable.

It is the functionality of the program that you need to look in to. Can it do what you need it in regards to reporting? They all do purchases and sales, they all do bank reconciliations (well, the people do it, but the program supports it).

Is the program as easy to use as the suppliers say it is (QB to me isn't and we're a Professional Partner)?

If you don't care about inventory, but you want sales and purchase invoicing and up to date data with bank transactions automatically downloading in to the program without an additional fee associated to that, the Xero or Saasu is worth looking in to.

But if you're after inventory and a desktop solution, maybe QB is what you need. Or perhaps even something more specific to your industry.

We all have our opinion on what we think is best because we are used to certain programs and they work for us....but you've got to focus on what works for you and if you don't have a worry about budget or cash flow, then your options are almost limitless.

[4N_Man]

Hi Folks,

I have used MoneyWorks and I can tell you it is much better than MYOB. MYOB is the Windows of accounting software - just causes you a lot of problems.

However, as another person mentioned, Xero is an upcoming program that is getting a lot of credibility so I am looking at making the switch.

Cheers,

Grant Dempsey
4Networking

[Southerngirl]

Look at Adminsoft Accounts www.adminsoftware.biz
(I know - all my posts are about this software but I really like it!!)
I've trialled QB and MYOB - ended up buying MYOB for my first business and slowly it strangled any enthusiasm to do my accounts....(and you can imagine the labyrinth of trying to work them out after allowed to accumulate)


Pros
1. it is FREE (though I paid as the guy is so helpful and I like the software, only GBP25)
2. It tracks stock, makes suggestions about re-ordering
3. Is only a 18MB download
4. It is runnable from a memory stick so you can give a copy to your accountant.
5. Easy peasy to update the software program.
6. import via csv - templates, stock lists etc.
7. Works with foreign currency as well.

Cons
1. It doesn't have comprehensive instructions - though there is help available (and I'm sure if you offered the guy the same amount of money as a basic MYOB package he'd probably either set it all up for you or hold your hand through the process)
2. You don't get an email about software updates - you have to go to the website to check.
3. MYOB had a copy function for adding heaps of similar stock, Adminsoft does have a bulk updater but it can be a bit fiddly and time consuming adding stock.
4. Changing basic invoice etc templates can be a bit of a pain but not to MYOB level.
5. People believe it can't be good because it is a) free and b) such a small program