https://www.youtu be.com/watch?v=HVb3Jp2bcB8
Numerous services make accounting and payroll mistakes that might have been prevented if business were utilizing great accounting software application. When all your procedures are manual, the volume of errors appears to increase. I understand it may wind up costing you a couple of dollars to get the ball rolling however think of just how much you’re going to conserve when you make less errors and conserve stacks more time as an outcome of that! That’s why in today’s video, I wish to present you to the 3 market-leading accounting software application utilized by countless small companies worldwide: XERO, QUICKBOOKS and MYOB. So which one is the very best for you? Let’s begin! CHAPTERS: 00:00 – Introduction 01:06 – Benefits and drawbacks of XERO 03:19 – Benefits and drawbacks of MYOB 05:37 – Benefits and drawbacks of QUICKBOOKS 07:15 – Distinctions In Between These Accounting Softwares 08:05 – Quick Summary 08:50 – Last Ideas –. Thank you for enjoying this video. I publish weekly videos on this channel to supply the most recent and most often asked company concerns. Please take a 2nd to state hi in the remarks listed below. If you enjoy my material and discover it important, sign up for the channel, like and share it with anybody you believe may discover my channel helpful! –. ► Sign up for my channel here:. https://www.youtube.com/c/DavieMach. –. Davie has more than ten years of experience in recommending services in management accounting and tax concerns. He directs an enthusiastic group at Box Advisory Group who are devoted to providing proactive and exceptional service to our customers. Davie’s comprehensive experience in supplying tax and speaking with recommendations and astute company understanding has actually led the way for success for numerous services. He belongs to the Chartered Accountants Australian and New Zealand, a member of the Australian Tax Practitioners Board and holds a Bachelor of Commerce degree from the University of New South Wales. –. Follow Me:. LinkedIn: https://www.linkedin.com/in/davie-mach/. Instagram: https://www.instagram.com/boxas_syd/. Facebook: https://www.facebook.com/boxadvisory/. Site: https://boxas.com.au/. –. DISCLAIMER: Please note that every effort has actually been made to guarantee that the details supplied in this video is precise. You need to keep in mind, nevertheless, that the details is meant as a guide just, supplying a summary of basic details readily available to professionals and small companies. This guide is not meant to be an extensive source of details and need to not be seen to make up legal or tax recommendations. You should, where required, seek your own recommendations for any legal or tax concerns raised in your company affairs. Video produced by Social Wave. https://www.socialwave.com.au
FiscalWoofer
They don’t save time! Saving time would be not having do any of it…but that is a different debate. Good video though – thanks!
Davie Mach
it saves time in the long run because in the end you need to do it haha
FiscalWoofer
@Davie Mach You ‘have’ to do it so yes it does save some time in the longer run! But is it really improving productivity or just providing an extra income for someone else? Possibly both but always the latter. The accountant (inc software) and government always has a finger in our productivity pie!
Thomas Waters
What would you recommend for a manual labour contractor that supplies materials and potentially has people contracting into them.
Davie Mach
Xero for sure mate
Thomas Waters
@Davie Mach thanks for the reply. That’s what I was steering towards anyway.
Raina Ybanez
Hi Davie 🙂 I just discovered your youtube channel and I’m so glad I did! Are you able to make a video for bloggers and what they should consider in regards to accounting?
Davie Mach
Glad you like our channel, Raina! Yep, already made a video about that. Check it out – https://youtu.be/mVt2k2Lq8xE
Abdullahi Mohamed
Which software do you think it’s the best for NDIS company?
Davie Mach
Xero or quickbooks
Chantal Doualle
Not sure if MYOB changed their structure after this video or what, but I just spoke to a customer service rep today (04/04/2022) and if you want the cloud based application (MYOB Bussiness Pro) then you have to forgo the inventory management. You have to pick which you want more; cloud based (MYOB Business Pro) or inventory & time billing (MYOB Business AccountRight). Also MYOB’s free trials require you to enter a debt/credit card before accessing the trial. Not likeing MYOB so far with these hidden surprises and am concerned about what other ones may be lurking.
Davie Mach
Argh that’s new. That sucks.
🙁
Shaifali Gupta
Hi Davie, can you please make one video on precede payroll software.
Thanks
Davie Mach
unfortunately never used it before. Sorry!
agentdark64
MYOB has automatic superannuation lodgments at it’s lowest package – business lite, whereas xero, you have to pay the highest package to get this feature. but I find MYOB’s support really sad.
Davie Mach
That is true.
LastDance
Hi Davie, which one is the best accounting software for e-commerce startups in your opinion?
Davie Mach
Xero has pretty good integrations with a lot of e-commerce softwares I would say
Yulong Luo
Hi David,
Love your video .
I just start real estate agency in Australia. Could you please let me know which one is suitable for start up real estate agency.
Thanks
Davie Mach
They all are fine but I’m quite bias I prefer Xero
Andrew Bennett
Thanks, nice video with some sound and balanced advice.
Davie Mach
Cheers for watching
Linda Romo
Hi David , what software would you recommend for a manufacturing company?
S LR
Quickbooks is definitely not laggy or buggy. It’s literally never lagged in the 4 years I have used it. Also, I think these guys who do the comparisons are seriously biased. I have literally watched another video which had complete opposite information on costs comparisons between Quickbooks and Xero. So, I think the best way to compare is by working on both yourself for same company/data and same time and period.
Davie Mach
We based our video on our experience.
Anyway QBO and Xero have different softwares in different countries. We are referring to the Australian version. So definitely a good idea to try before you buy.
S LR
Also excel is not outdated and will most likely always be used by accountants no matter how wonderful your accounting system or program is
Davie Mach
We disagree with this excel cannot be used to report STP, super and etc.
there are a lot of new rules coming which will make it harder for businesses to use excel as an accounting software.
Of course accountants use excel but as a tool for reporting. Not necessarily an accounting system.