MYOB (company) MYOB, Mind Your Own Business, is an Australian multinational corporation that provides tax, accounting and other services to small and medium businesses. Ideal for owner-operators, MYOB Accounting helps you process sales and purchases, track receivables, payables and GST, email your quotes and invoices and more – all with the click of a few buttons. MYOB Accounting avoids accounting jargon and is easy to use. Its award winning design guides you through the automation of your accounts, making it easy to track all your accounting data
FEATURES OF MYOB
• Easy to use
• Know your cash position
• Check your business health
• Send invoices and manage debtors
• GST compliant
• Inventory Management
• Multiple currencies
• Customer relationship management
• Job management
• Human resource Management
• Retail and professional tax products
REACH ACCOUNTING SOFTWARE
Reach accounting software manages your sales, CRM, Billing, Manufacturing, Accounting and Inventory across all the branches with a single web based software. Reach Accounting Software is an Online Accounting Software based in India catering to Small & Medium Businesses. We have software modules for Accounting, POS and CRM. The best part about Reach is all the business operations are bundled in one software so that the business owner can track every apsect of business.
FEATURES OF REACH
• Barcode Scanning
• Loyalty Management
• Inventory Management
• Sales tracking
• Warehouse Management
COMPARISON OF MYOB AND REACH
Comparing MYOB and Reach Accounting
Details Reach Accounting MYOB Essentials
Setup & access Online. 100% online, using computer, tablet or mobile.
Updates All updates happen automatically. All updates happen automatically.
Backups Constant online backup & security. Constant online backup & security.
Multiple User Access Yes. Yes.
Ease of use Good. Good.
Speed of reporting Good. Reporting can take a little longer in MYOB; reports run one at a time.
Accessability Any computer with internet Only the installed computer
Devices Computer, TAB and smart phones Only the installed computer
CRM Available Not Available
Payroll Not available Not available
Employee Logins No. Only as a paid add-on.
Sales Team management Available Not available
Follow up debts Yes, by SMS etc. Yes.
Data recovery Available Not available on most versions without a paid add-on.
Cost $14.95 per month. MANY versions, plans and add-ons.MYOB Essentials starts at $29/month.
AccountRight standard is $43/Month, or $70/Month for AccountRight with payroll.
Some people feel MYOB has too many confusing versions, add-ons and fees.
Learning about the software Online help available Online help available
Benefits of MYOB
• MYOB online solutions ensure you stay ahead of tax changes, keep control of your finances, be more productive and reduce risk.
• Takes care of day to day accounts, to more complex business management
• Fast and easy tax updates ensure you’re always up-to-date..
• MYOB Essentials is the fast and easy way to manage your cash flow and ATO compliance requirements
• Make it easy to meet your tax obligations with fast and easy updates including the 2016/17 tax and payroll release
• Confidently handle PAYG, state-based payroll tax,
• Keep an eye on how much time and money has been spent and how it stacks up against your plan.
• The inventory management software is so advanced, you’ll always be able to track what you buy and sell.
• It’s easy to meet your tax obligations; reconcile your accounts, report on GST and lodge your BAS on time
• Get a snapshot of key business indicators like cashflow and profitability.
• Shape and customise how your quotes, invoices and purchase orders look, and create them
BENEFITS OF REACH
• Automate your business
• Connect all your branches and control it from anywhere
• Best alternative to Tally and Quickbooks
• Reach can be used Consultants, Rentals and subscription business, Startups and Small Business for doing their Invoices, expense management, customer management and Accounting
• Manage your Enquiry and Bookings. Automate your pre-move survey and automate communication with customers
• Reach can be used by Equipment and Car Rental, Leasing and Subscription based companies to manage their Invoices, expenses and Accounting
• Reach can be used as a backend to e-commerce companies to manage their accounting and Inventory seamlessly. The orders in the e-commerce store can be downloaded automatically to Reach.
• Reach can be used by Job works and Contractors for bringing in efficient control over materials and rates planned for the projects and their efficiency.
• Reach can be used automobile, surgical, furniture and Importers other traders and wholesalers for purchase management, billing, managing inventory, and outsource to factories.
• Cost effective compared to other accounting softwares.
Why should you upgrade from MYOB to ERP?
• Access and control all your branches
• Cost effective
• Costs of phone bills, stationary and admin goes down
• No server or maintenance cost
• Mobile apps helps in Sales.
• User friendly software
• Handles all the business functions end to end such as CRM, Accounting, Sales etc