For those seeking accounting services in Singapore, you might come up finding different brands of accounting software. Two of the most popular software are Xero accounting and MYOB AccountRight Live. What’s the difference between the two? Let this blog compare them for you.
Xero’s cloud storage is web-based, which means it does not need to be installed. Updates are done through web (and behind-the scenes too!) so it means that the Xero being used in Singapore is the same as anywhere around the world!
On the other hand, AccountRight’s storage is in a form of an application which should be installed in every desktop of a company. Unlike Xero, AccountRight’s updates must be done on every PC, which could be cumbersome to bookkeepers. Sometimes, if you have problem upgrading, you need to have a phone chat with a customer service representative while updating your software.
Back-up files in Xero accounting can be accessed by web. Should the client terminate its contract, Xero is obligated to keep the back-up files of the client for seven years. In such a case, should the client opt to return to Xero, it can get the files last saved by him.
Meanwhile, AccountRight’s client files may be backed-up in their own personal computers. Therefore it is possible that the customer will have multiple ‘snapshots’ of his files. These back-ups may pile up in the client’s local storage.
Sometimes Xero’s loading time is quite long, but not longer than waiting for other webpage to load. On the other hand, AccountRight’s loading might take up to 45 seconds for a report.
AccountRight has a complete sales system, while Xero only has a draft invoice, invoice awaiting for approval and approved invoice. Should you think you need more from Xero, you can buy add-ins from the Xero marketplace.
Sending of invoices through MYOB can be done only from the mail system in the client’s desktop. Xero’s invoices can be sent through any e-mail, through any mobile device. In addition, Xero can add a link to the mail which could be clicked by the client to see his invoice and to a button which will allow him to pay at once. Xero clients can see if their customers had already seen their invoice and at the same time how many times.
There’s a lot of bookkeeping services Singapore software to choose from. But choosing an accounting software like Xero accounting MYOB could be the best choice for small and medium businesses. Xero and MYOB have their own strengths and weaknesses, so it’s good if you can research as many as you can about the two before purchasing any of them. It’s also good to ask your co-entrepreneurs. Remember it’s always good to be informed first before doing any actions.