MYOB or Xero – Which is Best for Small to Medium Businesses?

Running a small to medium businesses (SMEs) and trying to decide between the latest accounting software from MYOB and Xero?

We’re here to take the guesswork out and provide some guidance and advice to help you make the right decision.

MYOB Versus Xero

When it comes to price considerations:

MYOB – Essentials

This package is only available for use online. Cashbook costs $16 per month and Accounting $29 per month. Somewhat overpriced for what it offers.

MYOB - Account Right Live

A slow running package which is useable on desktop, or through an online application. Not totally cloud based.

The Basic package costs $30 per month, the Standard package will set you back $43 a month and the Plus package requires an $80 payment per month.

MYOB - Account Right Premier

Desktop only. Comes with foreign exchange and inventory management features. Usually adopted by larger clients/businesses.

Xero

Unlike MYOB’s Account Right Premier, Xero doesn’t sport a stock control feature in their cloud based, online packages. The company has stated however, that they do intend to bring it in shortly.  

Monthly fees are quite low compared to MYOB, starting at $25 per month, but with everything you will likely need, you should expect to pay around the $50 mark per month.

And the Winner Is…

For most SMEs the best option available would be Xero’s $60 to $80 plan. The overriding reason for recommending Xero to SMEs is that this platform is most receptive to the needs of these types of businesses and more pro-active when it comes to keeping up with technological advances and innovation. 


This article was originally published on AccountantJobs.com.au