Home – New Forums Tech talk Sassu vs Xero vs MYOB – cloud based accounting software

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  • #1135810
    Richard Brock
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    Healthy Personal Finances, post: 154656 wrote:
    Hi all,

    Anyone have any recommendations about cloud based accounting software ?
    I have done my research and think that Xero is fabulous – but some of my potential small clients will think this is too expensive (as one has already said).

    Another friend uses Sassu for her business – which I haven’t been exposed to.

    MYOB – I think is great but I haven’t used Live Accounts which I assume is their product aimed to compete with Xero.

    For our new business, we aim at marketing towards business from home – so not medium to large organisations.

    Thanks
    Stacey

    I have been using Xero for some time and think it is great.

    I can access my records anywhere and provide my accountant with real-time access to the service.

    Working in ecommerce my sales can easily be updated into Xero.

    Richard

    #1135811
    Rhys
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    jimyiapanis, post: 157006 wrote:
    My advice would be to select the account package as part of your overall engagement with your bookkeeper / accountant. They are the one’s who are going to drive it and help you optimise it.

    No, no, no! Sorry to come on all strident, but you are the user, it is your business, you need to have software that works for you, that meets your needs not those of someone who provides services to your business.

    If your accountant or bookkeeper doesn’t work with the solution that works for you replace them.

    Just sayin’!

    Cheers, Rhys

    #1135812
    3thingsdigital
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    Rhys, post: 158175 wrote:
    If your accountant or bookkeeper doesn’t work with the solution that works for you replace them.

    Absolutely! Your accountant needs to support your preferred cloud accounting app. Apologies if I intimated otherwise.

    #1135813
    Geronimo
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    I think you need to look past the dollar figure of Xero and rather consider the value it offers. I am a non numbers person, and used a spreadsheet for several years as I didn’t want to pay for an accounting package. Once I bit the bullet a couple of years ago however, I wish I’d done it so much sooner. That $50/month saves me a gob load of time, and my accounting no longer keeps me awake at night.

    No matter the size of your clients, it’s not expensive for the value they get.

    #1135814
    KellyB
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    Geronimo, post: 158269 wrote:
    I think you need to look past the dollar figure of Xero and rather consider the value it offers. I am a non numbers person, and used a spreadsheet for several years as I didn’t want to pay for an accounting package. Once I bit the bullet a couple of years ago however, I wish I’d done it so much sooner. That $50/month saves me a gob load of time, and my accounting no longer keeps me awake at night.

    No matter the size of your clients, it’s not expensive for the value they get.

    Great point Geronimo – Xero saves me several hours every week inputting our bank transactions as the bank feed does it all – I coud never get MYOB (desktop version) to import bank files very well. I can also auto generate our invoices and Xero sends them all off. That time is much better spent on chargeable work (or with my kids!), and i am making that $50 a month outlay back tenfold at least! Plus my accountant has all our data instantly which helps him keep a closer eye on our business!

    #1135815
    elemist
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    I started with Quickbooks many years ago. Was a good product, but when i actually started working the business full time and found a good accountant he preferred i use MYOB.

    Timed the change with a business restructure so wasn’t too bad. Overall i kind of preferred MYOB to QB’s as i found it easier to use and understand. However the lack of flexibility and portableness of MYOB drove me up the wall. Wasn’t too bad in the beginning, however once business started to pick up it wasn’t really practical.

    I had my father doing bank reconciliations and then my accountant checking things and making changes, so this meant for days at a time i didn’t have access to using MYOB.

    All that lead to me getting further and further behind on invoicing, to the point where i was only invoicing sporadically sometimes 2-3 months after the work had been done. This was a killer for cash flow, customers hated it and any discrepancies/disputes were difficult to resolve since it was hard to remember so far back. In addition as accounts weren’t reconciled regularly i wouldn’t send out statements – since there were likely to have been bills on it that had been paid.

    Anywho – finally i bit the bullet and started using Xero. From day 1 i’ve been in love with it!

    Major benefits i’ve found:

    1) Simple to use – having never used it or any other online accounting products i was up and running within a couple of hours. Simple english was used and everything just felt in logical order and place.

    2) Bank Feeds – these are a life saver.. I now reconcile on a daily basis and it takes me minutes if that. I can’t stress how much i really love this feature!

    3) Access anywhere anytime – this is another major life saver. I now invoice on the fly as i call it. So before i leave a business they have an invoice for the work carried out sitting in their inbox.

    Because multiple users can access it simultaneously live on the net i no longer have the problem of not being able to access the file since its with my book keeper or my accountant.

    I now have the ability to send an invoice from my laptop, desktop, phone, ipad or even a customers computer if need be.

    4) No worrying about backups – with the MYOB file floating all over the shop between my few computers, my dad’s computer and my accountants computer it was hard enough keeping track of the current file (on a few occasions invoices had to be rekeyed into the correct file!). So ensuring proper backups were done was pretty hard. Being cloud based Xero has automatic backups which means i don’t have to give it a second thought!

    5) Updates – new updates / features seam to be regularly released. They have pretty much all been flawless as in no teething issues. There was one feature enhancement that people weren’t overly keen with, however within a few days the ability to turn this particular feature off was implemented.

    6) Add Ons – i’m only just looking at these, but there is quite a good range of other products that integrate in one way or the other with Xero.

    There are of coarse some Cons

    1) Updates – No option to not upgrade to the new version. If something changes or a new feature doesn’t fit with the way you do business you can’t just keep the old version until you have time to get your head around the changes.

    In their defence though in my experience all the upgrades have been flawless, and without problems. They’re also all done for you, so no expense bringing in an IT consultant to do it for you, or struggling through it yourself.

    2) Internet based – no internet, no accounts. I thought this may have been an issue for me. But given the range of devices you can access it on it hasn’t been. I use a combination of my ipad, and hotspot tethering on my phone to access it from my laptop.

    3) Some book keepers / accountants aren’t familiar with it and may be hesitant against using it. Both my accountant and book keeper weren’t familiar with Xero, however have actually stepped up and are both learning the system.

    4) Limited Features – this is a bit of a plus and minus for me. Personally i find it has everything i need to manage my business and because its not full of stuff i don’t use it makes everything easier.

    That said there are some features holes that are pretty big, such as stock/inventory control and purchase orders.Whilst on the plus side – there are add ons available to fill these holes, they do come at additional cost which can add up quickly.

    Overall though i can’t believe how much Xero has simplified my day to day accounting and i couldn’t imagine life without it!

    #1135816
    Rhys
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    elemist, post: 158615 wrote:
    That said there are some features holes that are pretty big, such as stock/inventory control and purchase orders.Whilst on the plus side – there are add ons available to fill these holes, they do come at additional cost which can add up quickly.

    Overall though i can’t believe how much Xero has simplified my day to day accounting and i couldn’t imagine life without it!

    Hey Elemist, like you I am a big fan of Xero.

    I know that purchase ordering is scheduled for release by Xero in the next few months.

    Xero already has a basic inventory system which is on the development list for enhancement but no date announced as yet. Even when it has been upgraded I suspect it will still be an entry level solution.

    For businesses that do need a fully fledged inventory solution Unleashed starts at $35 a month – I agree the costs add up, but as with Xero the extra productivity should more than justify the cost.

    Cheers, Rhys

    #1135817
    raynor
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    Well I am the odd one out here, we have tried MYOB and absolutely hated it………….we use Quickbooks and love it and have been using it for years.

    We did try Xero which was pushed onto us by an ex Accountant we didn’t like it at all.

    #1135818
    MatthewKeath
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    raynor, post: 159973 wrote:
    Well I am the odd one out here, we have tried MYOB and absolutely hated it………….we use Quickbooks and love it and have been using it for years.

    We did try Xero which was pushed onto us by an ex Accountant we didn’t like it at all.Out of curiosity, what didn’t you like about Xero.

    Like other here, Xero has make accounts almost fun.

    #1135819
    Rhys
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    chaase, post: 162826 wrote:
    For us with 5 staff it costs $49/month or $588/anum (small is only $29/mth). The software cost is pittance when compared to the money saved reconciling accounts ie bank feeds alone save a significant amount of time

    Raising invoices, Paypal integration for invoicing again saves us so much time

    Hi Chaase,

    With 5 staff you only need the version of Xero you have – medium – but you might want to take a look at the large subscription. It will add $15 a month to your cost, but it will let you use the automated super payments at the end of each quarter. Compared to logging into a multitude of super fund websites / raising multiple BPays this is another great time saver. I know that with less than 20 staff you can also use the ATO clearing house, but again a question of time saving. I would subscribe to Xero for this feature alone!

    Cheers, Rhys

    #1135820
    @HeatherSmithAU
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    Hey if you’re interested my next book is out – Xero for Dummies

    xero-for-dummies.jpg

    You can get it here : http://au.wiley.com/WileyCDA/WileyTitle/productCd-1118572556,descCd-buy.html

    Enjoy :)

    #1135821
    @HeatherSmithAU
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    chaase, post: 162832 wrote:
    Thanks Heather

    I take the approach now, I stay the Dummy and hire smart people :-)

    Now how will I sell books with that attitude ;)

    #1135822
    WW2010
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    @HeatherSmithAU, post: 162830 wrote:
    Hey if you’re interested my next book is out – Xero for Dummies

    Enjoy :)

    The problem with your book is that it will be outdated in a matter of months. Because Xero is in the cloud, they can (and do) make changes on the fly. Which will essentially date your book far quicker than a book on vanilla MYOB which has been stale for years.

    I think “buying” a book on any Cloud service is a fools errand. Cloud services adapt and move so quickly these days. Gone are the “cyclical” days of releasing a product every year or more. Just ask MYOB.

    #1135823
    @HeatherSmithAU
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    Thanks for your comments WW2010

    If what you were suggesting was true every morning we would wake up and have to re-learn the product. This is not the case, and if it were – would render the product useless to many users.

    Yes indeed the cloud can move quickly these days, and the book has links to online content which can update overnight, plus the stable of Xero information.

    People learn in different ways: by doing, by reading, by seeing, by hearing. This book is a great resource for those who have different learning styles, perhaps to your own WW2010 (it would be nice if you did not post anonymously).

    Yes indeed Xero was a challenge writing about it – it was a moving target. But many aspects will stay the same, simply with features and enhancements added to them.

    As the writer, I think the book comprehensively explains how to use Xero not only as a compliance tool, but as a management tool in your business – which I think is very exciting.

    I agree there are many other mediums to share educational information – I have received lots of positive feedback from various sources – including those ‘entrenched in the clouds’ so I hope Xero for Dummies fills a gap in the market for some people.

    #1135824
    Robert Gerrish
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    I must say I agree with Heather (and not just because I’m a fan). I think the Dummies series are always books that are brought to market quickly, they sell inexpensively and fill a need.

    If major changes to the software in question come about, I have little doubt they’ll be commissioning a follow-up quick-smart.

    Anyways, we’ll allow Heather to keep her little book plug as it’s very topical and frankly Heather does masses for our little community.

    Robert

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