Myob and QuickBooks Software How to make a choice?
MYOB and QuickBooks determining the difference.
Utterly confused as to, which accounting software to use MYOB or QuickBooks Software? So why are we trying to compare these two? Well becuase both MYOB or Mind Your Own Business and QuickBooks are the largest accounting and bookkeeping software companies on the market. There are similarities, as well as, dissimilarities in both the products, as is the case with difference in advantages. So what we have done is taken different situations and conditions and compared them to make a choice with the software. On the other hand, the choice of accounting software should be in sync with one's needs, requirements and budget too.
Becuase the software has been built for the same purpose and therefore will seem very similar on the surface of the software. These similarities include the following:
The integral features of the softwares are different; however the core functions that are performed are largely the same
Both the softwares are essentially proprietary properties of the software development company that has created them
Windows and MAC both support these two softwares, while Linux compatible version is yet to be developed
Both these products work extremely efficiently as stand along products. Moreover, there are several add-ons that one can indulge in. Of course these add-ons are used seperately.
The major difference between MYOB and disadvantages is that QuickBooks is better for people that understand the technical side and MYOB of the less technical people. A novice at information technology would enjoy the software and be able to use it with immense comfort. On the other hand, QuickBooks would be a delight for a user who is computer savvy and loves high end technology. There are certain buyers who feel that both the software target different markets. At the core of both these Accounting and Bookkeeping companies they both end up doing the same job, but end up targeting different market segments.
The most important thing to remember is that both these two pieces of software, both offer efficiency and fast data retrieval, making decision making easy. While both are a flash to install and use they both still have differences that make them different and prefered to some people.
QuickBooks Advantages:
Software options include several versions. These versions are good for users which include whole sellers, manufacturers, retailers, non-profit entities, contractors, professional accounting firms and professional service firms
Each region has variations in government regulations and business needs. Thus there are many different version for this also.
All Online versions of the software are identical to the paper versions.
While standard accounting and bookkeeping procedures can be complex and hard. A user does not necessarily have to be well versed with them while using QuickBooks.
MYOB advantages:
Comprehensive package of several online services like e-mail hosting, domain registration and web hosting Extensive range of functions like accounting, bookkeeping, invoicing software and payroll are available. These options are available for a start up to small businesses to corporations that need multi-user software Other MYOB products include POS ( point of sale software) assest management and payment services.
MYOB also allows you to manage both customers, vendors and employees all at one location.
It has a unique function of being able to work with several currencies
Thus, while both the softwares are superior in their own way, one must keep in mind their own business requirement along with expansion plans. Accounting is a large selection of a companies requirements and should be with in certain goals of the business.
Myob and QuickBooks Software How to make a choice?
By: Arek Rickirson
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