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  • #986715
    Obbie
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    Currently I use Quickbooks, which is now Reckon Accounts for my business.
    I want to start a new company file, as mine is way too big.
    Does any have a preference, MYOB , or Xero.
    I need payroll on it as well.
    Do I go Cloud, or not.

    Thanks for any help.

    Robyn

    #1159270
    MissSassy
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    I would suggest you do a trial on both and see which one you like.

    Some people love MYOB and some love Xero – I know there is a HUGE movement towards Xero.

    Good luck with your choice

    #1159271
    Ashman
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    Obbie, post: 183726 wrote:
    Currently I use Quickbooks, which is now Reckon Accounts for my business.
    I want to start a new company file, as mine is way too big.
    Does any have a preference, MYOB , or Xero.
    I need payroll on it as well.
    Do I go Cloud, or not.

    Thanks for any help.

    Robyn

    Why do you want to depart from Quickbooks? I think it’s great – easy to use.

    I personally wouldn’t put any financial information in the “Cloud”. Put the company file on a local network so others can share it and update if necessary.

    #1159272
    bb1
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    I use MYOB and is is ok to use. But also need to consider support costs for each product you are looking at. MYOB has a VERY high yearly support cost.

    Don’t go near the cloud if you can avoid it,

    #1159273
    Obbie
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    I use quickbooks, and its easy, but you can’t delete customers, and If they use you once, they are still there forever.

    I like the idea of Debtor Daddy with Xero, which would be easy to run.
    Reports on quickbooks take a while to load, then to change date ranges, it has to reload again.
    It also says do you want to save changes, on invoices, when I have not made any changes.

    I could also log in from home, and not just from work.

    Why not use ( In the cloud)..
    thanks

    #1159274
    YourDesk
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    Xero is awesome, so easy to use and great for collaboration between you and your accountant.

    As for Ashmans comments I would not risk putting all my company data on a local system considering all the additional benefits and redundancies that cloud computing offers.

    #1159275
    Gail @ VAABS
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    • Total posts: 28
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    Hi Robyn,

    I have been using MYOB for my Aussie businesses for about 14 years and Quickbooks for my US business for 3 years. Both excellent.

    However, for my clients, I recommend and setup MYOB Live Accounts (cloud version of MYOB). It is easy to use, can be accessed by owner, bookkeeper, accountant etc. without having to transfer files from one to the other. You always have the latest version – no upgrades. No need to worry about backups – it’s always backed up in the cloud. You can synch a backup on your PC too. Very cost effective for small business owners at $29 per month.

    I do use Xero for some clients, and it is also an excellent system, but there are lots of “extras” to pay for that are included in Live Accounts, e.g. limited number of bank accounts in Xero before you pay extra. I think Payroll may also be extra in Xero but stand to be corrected on this. Inventory, Quotes are included in Live Accounts but extra in Xero.

    I find Live Accounts suits most SME needs and is most cost effective. Both Live Accounts and Xero offer a 30 day free trial so I’d recommend try them both and see which one you feel most comfortable with and which meets your needs at the best price.

    Good luck!
    Cheers
    Gail

    #1159276
    Rhys
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    Obbie, post: 183726 wrote:
    I want to start a new company file, as mine is way too big.

    Robyn

    Hi Robyn,

    There are easier ways of dealing with a file that is too big than migrating to another system. QB has a “condense data” function that will let you remove closed transactions prior to a certain date. If you need a more thorough clean out than that function offers you could also start a new file in QB and migrate across all the data you need but not the data you don’t.

    If you have other reasons for wanting to migrate to a new system that’s a different story, but you need to think about what those reasons are. I am big fan of cloud solutions, I love Xero + MYOB is making a serious play to catch up in this space and Reckon have (at last) released their cloud product. There are many other solutions to choose from.

    I wrote a series of articles that were published on this site last year on the topic of choosing an accounting system, the second of those looked at how to evaluate your options – you’ll find the article here There is a longer version of this on my website

    Hope this helps, cheers, Rhys

    #1159277
    Obbie
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    Thanks so much Gail and Rhys.
    Quickbooks is fine, but I have so many customers that have moved away, I need to have a smaller file. Quickbooks costs about $700 per year for tech support, and updates.

    I have downloaded xero free trial, and I will play with that. I am going to download the MYOB Live accounts for a trial too.
    Then work out which to use.
    When I have contacted quickbooks they have never suggested to condense data.
    I will check, Thanks Robyn

    #1159278
    bb1
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    Rhys, post: 184075 wrote:
    Hi Robyn,

    There are easier ways of dealing with a file that is too big than migrating to another system. QB has a “condense data” function that will let you remove closed transactions prior to a certain date. If you need a more thorough clean out than that function offers you could also start a new file in QB and migrate across all the data you need but not the data you don’t.

    If you have other reasons for wanting to migrate to a new system that’s a different story, but you need to think about what those reasons are. I am big fan of cloud solutions, I love Xero + MYOB is making a serious play to catch up in this space and Reckon have (at last) released their cloud product. There are many other solutions to choose from.

    I wrote a series of articles that were published on this site last year on the topic of choosing an accounting system, the second of those looked at how to evaluate your options – you’ll find the article here There is a longer version of this on my website

    Hope this helps, cheers, Rhys

    Rhys, I have read your article, and would be most inerested to understand why you believe the cloud is far more secure than a local database? What do you see as the pro’s and con’s.

    #1159279
    tul1
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    xero is the future, no doubt

    Happy to help you with this.

    #1159280
    dominikm
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    I vote Xero.com as I’ve used it twice and it’s so easy to use if you don’t have someone doing your books.

    It links into bank accounts in Australia and even globally for a lot of countries. Links into eBay, PayPal and even Payoneer if you use that. It can at the click of a button give you a snapshot of your business (P&L statement).

    I’ve only ever used it so I’m a bit biased towards it but it’s a damn fine program :)

    #1159281
    Rhys
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    • Total posts: 325
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    bb1, post: 184097 wrote:
    Rhys, I have read your article, and would be most inerested to understand why you believe the cloud is far more secure than a local database? What do you see as the pro’s and con’s.

    Hi bb1, apologies for the delay in replying, I only noticed your question today.

    I think the issue of security needs to be broken down and each aspect considered separately. Broadly this includes:

    Risk of losing data via hardware issue
    For example through hardware crashing, being destroyed (fire or flood) or being stolen. All of these are far less likely in the cloud – vendors such as Xero store your data at large and well protected data centres with numerous layers of security that it is impossible to replicate in your own business.

    During the Brisbane floods a couple of years ago many businesses lost not only their data but also their data backups. Businesses with data in the cloud suffered far less disruption.

    Risk of losing data via a software issue
    For example data corruption. Xero is backed up offsite EVERY day, with incremental backups every few minutes. I have seen small businesses with what they thought were good locally stored backups suffer data corruption and then discover that they have overwritten their backups with the same corrupt data. Not nice!

    Risk of unauthorised access
    Data in the cloud does not have the protection of a locked office door, or a PC being turned off. If you are using a cloud app use strong passwords, some apps / some apps for some transactions offer some form of second factor authentication. For example when you pay your staff super out of Xero it sends a security code via SMS to to your mobile.

    I take the view that the risk of someone breaking into my office or stealing my laptop, and then accessing my (locally stored) data is at least as great as them hacking into my Xero file.

    Big Brother is watching
    If ASIO, the NSA or any other agency decide they want to monitor me individually they will tap my phone or monitor my bank account. They have no more access to my accounting data than they do to my bank records. If I want them to get neither I have to choose a “non information age lifestyle” (no phone, no mobile, no bank account, no cloud apps, no modern car, no Ipad, no on-line purchases, no credit card, etc). Simply storing my accounting info on a local machine is no where near adequate to eliminate this risk (if it was one that concerned me).

    Vendor viability
    This to me is the big question to raise with cloud apps. Will the vendor – and the app – be around for the long haul. You really don’t want to trust your data to a vendor who does not have a solid business.
    For this reason we only work with paid apps (if you’re not the customer, you’re the product!) and we only work with those we believe will be strong players in the market (Xero, Vend, Unleashed, etc).

    Anyone got anything else to add to this list? I do not think cloud apps are 100% risk free (not sure anything is), but I am very comfortable holding my accounting data in the cloud, my CRM data in the cloud and so on.

    Hope this helps, cheers, Rhys

    #1159282
    Paul Wineberg
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    • Total posts: 43
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    Rhys,
    I am a massive fan of Xero and have never had a way to explain the security benefits to my clients the way you just explained it. Thanks for that post it was fantastic.

    Paul

    #1159283
    Rhys
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    Paul Wineberg, post: 185012 wrote:
    Rhys,
    I am a massive fan of Xero and have never had a way to explain the security benefits to my clients the way you just explained it. Thanks for that post it was fantastic.

    Paul

    Hey Paul, A pleasure, glad you found it useful,

    Cheers, Rhys

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