For those interested in understanding the different cloud accounting offerings available in the Australian market, I recommend reading the detailed comparison compiled by Margaret Carey of BusinessEzz, a great piece of work. Despite particular expertise in Quickbooks, she has prepared the most thorough analysis of the leading four online accounting offerings I have seen, delivering seven detailed, objective and thoughtful posts over the last six months. She compares Quickbooks Hosted, MYOB Live Accounts, Xero and Saasu against 6 criteria:
- User Friendliness
- Ease of initial set up
- Help & Support
She goes on analyse functionality specific to customers, suppliers, GST/BAS, Reporting, Chart of Accounts and Budgets and Payroll.
And the best accounting package is? Well it depends…but her scores were:
- Quickbooks Hosted – 8
- Xero – 8
- MYOB – 7
- Saasu – 5
Unfortunately, as we know and Margaret acknowledges, it is not as simple as that. Every business is unique and needs different things from its systems. And the landscape is changing constantly. MYOB have big plans to take this space and convert its massive majority market share. Xero is great, but limited, although its integrated partners provide best in class add-on modules (at additional cost) in areas such as inventory management, payroll and job costing and management. These are built into Quickbooks which is cost competitive and an all-round strong performer in her opinion (and ours).