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MYOB Accounting Software

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MYOB Or QuickBooks?

MYOB competes with QuickBooks mostly by offering additional features and an easy-to-navigate interface. Though QuickBooks has adopted a graphical interface that gets more complicated with each version, MYOB’s navigation screen is simple by comparison.

Installing and setting up a new company in MYOB involves picking a chart of accounts from a comprehensive list and telling the program what month to start with. You can choose to sort accounts by name or by number and report on all the data you’ve entered, using one of the 160 built-in reports.

Retention of data: MYOB more or less obliges you to keep a back-up copy of your file before doing a year-end, which deletes prior year’s data.

These are all better features that MYOB users will recognise at once.

Despite all the above, people love their existing system best of all, and no matter how good QB is, you simply cannot persuade some people.

MYOB has some advantages over QB, such as import/export of transactions and list information; job analysis, which is merely a sub-expense analysis, not tied to the customer, therefore more flexible (although job P&L reporting doesn’t even meet MYOB’s basic standards for reports); multi-currency in its Plus product, which works very well; and many people prefer its simplicity; they see QB as too complex.

MYOB has done a very good marketing job over the years, and put out a consistent series of products with minimal upgrade hassles. MYOB users have a lot of faith that MYOB will continue to deliver affordable useful products.

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