MYOB vs. QuickBooks Online

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
MYOB
Score 7.2 out of 10
N/A
MYOB now has a suite of subscription-based products and a browser-based accounting product that was released in August 2010. On 24 October 2012, MYOB released AccountRight Live - the cloud-enabled version of its flagship product. MYOB competes with Xero and QuickBooks.
$11
per month
QuickBooks Online
Score 8.3 out of 10
N/A
QuickBooks Online is a SaaS version of the QuickBooks product. It contains all of the features found in the local version. Higher-priced plans include greater automation, payment management, inventory and time tracking, and analytics features.
$20
per month
Pricing
MYOBQuickBooks Online
Editions & Modules
Solo
$11
per month
Lite
$34
per month
Pro
$63
per month
Premier
$88.50
per month
Account Right Plus
$150
per month
Solopreneur
$20
per month
Simple Start
$35
per month
Plus
$99
per month
Advanced
$235
per month
Offerings
Pricing Offerings
MYOBQuickBooks Online
Free Trial
YesYes
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Community Pulse
MYOBQuickBooks Online
Considered Both Products
MYOB
Chose MYOB
I selected MYOB because most of our clients are using this tool, this is the most convenient accounting software for them that's why we adopted MYOB app and MYOB website. We also covered a training for our clients to make them see that this accounting tool is easily to use.
Chose MYOB
I did a trial run on Xero I had trouble finding how to set up things, the customer support was terrible. The support you get from MYOB when you need it is really good.
QuickBooks Online
Chose QuickBooks Online
Really have not used any other small business accounting software in the past 5 years due to QB dominance in the small business accounting space. We used to use MYOB which is now accounting edge many years ago.
Features
MYOBQuickBooks Online
Payroll Management
Comparison of Payroll Management features of Product A and Product B
MYOB
10.0
12 Ratings
28% above category average
QuickBooks Online
8.2
97 Ratings
9% above category average
Pay calculation10.012 Ratings8.188 Ratings
Benefit plan administration10.08 Ratings7.744 Ratings
Direct deposit files10.010 Ratings8.882 Ratings
Salary revision and increment management10.08 Ratings8.657 Ratings
Reimbursement management10.08 Ratings7.861 Ratings
Customization
Comparison of Customization features of Product A and Product B
MYOB
10.0
7 Ratings
26% above category average
QuickBooks Online
7.5
92 Ratings
3% below category average
API for custom integration10.07 Ratings7.576 Ratings
Plug-ins10.06 Ratings7.675 Ratings
Security
Comparison of Security features of Product A and Product B
MYOB
10.0
12 Ratings
20% above category average
QuickBooks Online
8.8
149 Ratings
7% above category average
Single sign-on capability10.011 Ratings8.9116 Ratings
Role-based user permissions10.012 Ratings8.8139 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
MYOB
10.0
12 Ratings
24% above category average
QuickBooks Online
8.5
176 Ratings
8% above category average
Dashboards10.011 Ratings8.5164 Ratings
Standard reports10.012 Ratings8.8171 Ratings
Custom reports10.011 Ratings8.1155 Ratings
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
MYOB
9.0
16 Ratings
17% above category average
QuickBooks Online
8.1
190 Ratings
6% above category average
Accounts payable10.016 Ratings9.0160 Ratings
Accounts receivable10.016 Ratings8.9176 Ratings
Cash management10.015 Ratings8.5160 Ratings
Bank reconciliation10.016 Ratings9.0180 Ratings
Expense management10.012 Ratings8.7166 Ratings
Time tracking6.07 Ratings6.772 Ratings
Fixed asset management10.09 Ratings8.073 Ratings
Multi-currency support10.08 Ratings6.734 Ratings
Multi-division support10.07 Ratings7.959 Ratings
Regulations compliance10.09 Ratings7.857 Ratings
Electronic tax filing5.19 Ratings8.191 Ratings
Self-service portal6.37 Ratings7.896 Ratings
Global Financial Support10.06 Ratings7.026 Ratings
Primary and Secondary Ledgers10.08 Ratings7.852 Ratings
Intercompany Accounting10.06 Ratings8.449 Ratings
Localizations10.06 Ratings8.037 Ratings
Journals and Reconciliations10.012 Ratings8.7107 Ratings
Enterprise Accounting2.84 Ratings7.741 Ratings
Configurable Accounting10.09 Ratings8.261 Ratings
Centralized Rules Framework10.04 Ratings7.742 Ratings
Standardized Processes10.08 Ratings8.476 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
MYOB
10.0
9 Ratings
28% above category average
QuickBooks Online
7.0
69 Ratings
7% below category average
Inventory tracking10.09 Ratings6.865 Ratings
Automatic reordering10.06 Ratings7.234 Ratings
Location management10.06 Ratings7.238 Ratings
Manufacturing module10.06 Ratings6.725 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
MYOB
10.0
7 Ratings
27% above category average
QuickBooks Online
7.8
117 Ratings
2% above category average
Pricing10.07 Ratings7.873 Ratings
Order entry10.07 Ratings7.670 Ratings
Credit card processing10.06 Ratings8.487 Ratings
Cost of goods sold10.07 Ratings8.188 Ratings
Order Orchestration10.05 Ratings7.333 Ratings
End-to-end order visibility10.05 Ratings8.134 Ratings
Order exception Resolution10.05 Ratings7.230 Ratings
Best Alternatives
MYOBQuickBooks Online
Small Businesses
QuickBooks Self-Employed (discontinued)
QuickBooks Self-Employed (discontinued)
Score 9.1 out of 10
QuickBooks Self-Employed (discontinued)
QuickBooks Self-Employed (discontinued)
Score 9.1 out of 10
Medium-sized Companies
Accounting Seed
Accounting Seed
Score 7.5 out of 10
Accounting Seed
Accounting Seed
Score 7.5 out of 10
Enterprises
BlackLine
BlackLine
Score 8.6 out of 10
BlackLine
BlackLine
Score 8.6 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
MYOBQuickBooks Online
Likelihood to Recommend
8.4
(19 ratings)
8.5
(208 ratings)
Likelihood to Renew
9.5
(2 ratings)
6.8
(26 ratings)
Usability
9.3
(15 ratings)
8.7
(123 ratings)
Availability
-
(0 ratings)
2.0
(5 ratings)
Performance
-
(0 ratings)
1.0
(4 ratings)
Support Rating
1.2
(14 ratings)
1.3
(69 ratings)
Implementation Rating
5.0
(1 ratings)
3.0
(6 ratings)
Configurability
-
(0 ratings)
10.0
(1 ratings)
Ease of integration
1.0
(1 ratings)
1.3
(2 ratings)
Product Scalability
-
(0 ratings)
1.0
(2 ratings)
Vendor post-sale
-
(0 ratings)
1.0
(2 ratings)
Vendor pre-sale
-
(0 ratings)
1.0
(2 ratings)
User Testimonials
MYOBQuickBooks Online
Likelihood to Recommend
MYOB
MYOB is suitable for any business. I have two different businesses and both use MYOB effectively. I use MYOB to pay wages every fortnight for both businesses. This enables me to track exactly what is happening with everyone's different sick leave and holiday entitlements easily. I'm also able to keep track of expenditure and balance and reconcile the accounts against bank statements.
Read full review
Intuit
Since we run outside payroll for a couple of the companies, it is quite difficult to be as accurate as I would like when it comes to categorizing those payroll transactions, since they have to be imported via journal entries. Between that and the lack of a complex inventory management, are really my only complaints of the software. I do like the accessibility for myself, my employees, and my clients of the online version, something you don't get with desktop versions.
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Pros
MYOB
  • MYOB is very easy to navigate and find the correct information.
  • The Help section was very straight forward and very easy to learn.
  • MYOB was a great accounting tool for our business as it provided the accountant, sales, etc all of the information they need all in one place.
Read full review
Intuit
  • Workflows for accounts payable invoice review are terrific.
  • Bill payment allows you to pay vendors online via ACH or check without having to write a physical check, which reduces admin time.
  • The cloud based login lends well to a remote or hybrid work environment for staff.
  • QuickBooks Online allows you to pre-configure vendors' general ledger expense accounts. This helps with general ledger coding accuracy and consistency.
  • QuickBooks Online integrates with Rippling HRIS, Coast, Capital One, JPMorgan Chase, etc., which lends well to an efficient month-end closing and reduced administrative time.
Read full review
Cons
MYOB
  • [In my opinion,] horrible interface to import data
  • [In my opinion,] user interface stuck in 1995
  • Needs improvement to usability
  • Contestant price increases
  • [In my opinion,] new in-app advertising is annoying
  • Countless different windows to do simple tasks like onboard an employee
  • [In my experience,] too slow
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Intuit
  • Purchase Orders cannot be linked to multiple bill payments which makes tracking purchase orders in QuickBooks Online obsolete. Without the function we have to track this within a different more manual spreadsheet.
  • Would be helpful if you could "split" bank transactions directly from the "review" downloads from the bank. Currently, to split transactions to multiple accounts we need to first categorize, then review after assigning to 1 account.
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Likelihood to Renew
MYOB
Our clients seems hesitant to change softwares so I don't see why we wouldn't be renewing with MYOB
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Intuit
It like the product 'right out of the box' and I trust Intuit will continually improve it over the years based on my experience with their desktop products. The large providers of Apps makes customizing the entire package relatively easy and seamless for a wide variety of business types.
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Usability
MYOB
Still 10 for me, I have no problem at all using this toll even it hangs sometimes, I need to log in again to refresh it and it always ask to update the MYOB app. i Also like the security of this platform, iT always asks for the code (before logging in.
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Intuit
I had very little trouble setting up the program and migrating from our old accounting system. The daily usage is also very intuitive and easy. Anytime we run into minor trouble with the program, there are always tons of help available on YouTube, so we don't even look up the online manual anymore.
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Reliability and Availability
MYOB
No answers on this topic
Intuit
We have rarely had outages in the last 10 years. I can only recall 2 times in the last 10 years where we were not able to access our client files.
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Performance
MYOB
No answers on this topic
Intuit
There are tab issues. When I tab the field doesn't highlight and I have to backspace or delete what is in the field. Happens on the memo field and sometimes other fields. Very time consuming.
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Support Rating
MYOB
MYOB accounting software basically works but looks and functions like 1998. Unfortunately their Antipiracy licensing system is absolutely TERRIBLE and verging on nearly criminal, scam! You must CONFIRM each and every data file and when it doesnt work you have to PAY THEM to fix their own file protection issues. If you dont pay them, they hold your data hostage as your company accounting information file becomes READ ONLY. Permantly, unless you pay them. This is a total extortion SCAM. I cannot believe a company can operate this way. With a lot of better product available... i dont imagine MYOB is going to survive much longer.
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Intuit
In my experience, most representatives keep me on the phone for hours, literally, for a single issue and then usually cannot resolve it satisfactorily. I have 10 open cases that need resolution and, in my experience, there has been NO follow-up communication on any of them.
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Implementation Rating
MYOB
No answers on this topic
Intuit
The person in charge of QB needs to be very accurate with record keeping and is recommended to stay on top of tasks. The biggest issue we have is reconciliation, and those issues occur only when too much time has occurred between reconciliations
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Alternatives Considered
MYOB
Not even close. Though I will say MYOB had a budget module where Zoho Books doesn't which is one thing severely lacking in Zoho Books. On the other hand, Zoho Books allows for payment processing integration without trying to get a cut from the process whereas MYOB allowed for payment processing but you had to go through their service only and it wasn't cheap.
Read full review
Intuit
My employer was already using Quickbooks when I got here. As the Executive Director, I do all the day-to-day accounting. This program is easy to learn and use. I was able to add budgets by class so I can run P&Ls for each of the different programs as well as an organizational budget.
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Scalability
MYOB
No answers on this topic
Intuit
As we have grown along our professional path, we have also expanded our use of QB. The scalability is easy and features seem to be waiting for you until you need them. We have increased profits by over 10x from our first year in business to the current and have yet to find a reason to look elsewhere
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Return on Investment
MYOB
  • Made a life a lot easier by removing a lot of separate entries in multiple excel sheets
  • With all of the relevant information in one place, it is easier to process payments.
  • Most of the business only have one person doing the payroll compared to the team effort.
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Intuit
  • QuickBooks has given us a useful portal by which to get an overview of our financials.
  • QuickBooks has given us a relatively easy way to send out invoices quickly and efficiently.
  • Due to the customization limitations on QuickBooks, we've had to get creative in third-party implementations to better represent our brand and to track financials.
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