MYOB vs. QuickBooks Online

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
MYOB
Score 5.0 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.N/A
QuickBooks Online
Score 8.0 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.
$15
per month
Pricing
MYOBQuickBooks Online
Editions & Modules
No answers on this topic
Self-Employed
$15
per month
Simple Start
$25
per month
Plus
$75
per month
Advanced
$150
per month
Offerings
Pricing Offerings
MYOBQuickBooks Online
Free Trial
NoYes
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 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.
Top Pros
Top Cons
Features
MYOBQuickBooks Online
Payroll Management
Comparison of Payroll Management features of Product A and Product B
MYOB
7.0
11 Ratings
3% below category average
QuickBooks Online
3.3
78 Ratings
74% below category average
Pay calculation7.211 Ratings4.569 Ratings
Benefit plan administration6.97 Ratings4.332 Ratings
Direct deposit files7.19 Ratings5.265 Ratings
Salary revision and increment management6.97 Ratings1.444 Ratings
Reimbursement management6.87 Ratings1.146 Ratings
Customization
Comparison of Customization features of Product A and Product B
MYOB
6.1
6 Ratings
12% below category average
QuickBooks Online
2.5
68 Ratings
93% below category average
API for custom integration5.96 Ratings1.254 Ratings
Plug-ins6.35 Ratings3.857 Ratings
Security
Comparison of Security features of Product A and Product B
MYOB
7.0
11 Ratings
11% below category average
QuickBooks Online
3.6
108 Ratings
74% below category average
Single sign-on capability7.010 Ratings2.781 Ratings
Role-based user permissions7.111 Ratings4.6102 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
MYOB
5.9
11 Ratings
23% below category average
QuickBooks Online
5.0
132 Ratings
39% below category average
Dashboards6.010 Ratings4.4124 Ratings
Standard reports6.111 Ratings5.0128 Ratings
Custom reports5.710 Ratings5.7116 Ratings
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
MYOB
4.9
15 Ratings
39% below category average
QuickBooks Online
3.7
143 Ratings
65% below category average
Accounts payable5.915 Ratings5.5122 Ratings
Accounts receivable5.915 Ratings6.0131 Ratings
Cash management5.314 Ratings6.6120 Ratings
Bank reconciliation5.815 Ratings6.4137 Ratings
Expense management6.111 Ratings5.8123 Ratings
Time tracking6.36 Ratings1.456 Ratings
Fixed asset management4.98 Ratings5.153 Ratings
Multi-currency support2.07 Ratings1.323 Ratings
Multi-division support2.06 Ratings1.342 Ratings
Regulations compliance4.88 Ratings1.538 Ratings
Electronic tax filing5.19 Ratings5.266 Ratings
Self-service portal6.27 Ratings2.166 Ratings
Global Financial Support6.35 Ratings1.216 Ratings
Primary and Secondary Ledgers5.67 Ratings3.535 Ratings
Intercompany Accounting2.15 Ratings4.829 Ratings
Localizations6.35 Ratings4.021 Ratings
Journals and Reconciliations5.311 Ratings5.074 Ratings
Enterprise Accounting2.84 Ratings1.725 Ratings
Configurable Accounting4.88 Ratings1.938 Ratings
Centralized Rules Framework2.43 Ratings3.024 Ratings
Standardized Processes5.87 Ratings3.648 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
MYOB
3.7
8 Ratings
58% below category average
QuickBooks Online
1.2
47 Ratings
139% below category average
Inventory tracking6.68 Ratings1.245 Ratings
Automatic reordering2.85 Ratings1.122 Ratings
Location management2.85 Ratings1.221 Ratings
Manufacturing module2.75 Ratings1.217 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
MYOB
6.3
6 Ratings
13% below category average
QuickBooks Online
3.8
86 Ratings
61% below category average
Pricing6.36 Ratings5.055 Ratings
Order entry6.36 Ratings5.053 Ratings
Credit card processing6.35 Ratings2.063 Ratings
Cost of goods sold6.36 Ratings3.768 Ratings
Order Orchestration6.34 Ratings4.921 Ratings
End-to-end order visibility6.34 Ratings4.920 Ratings
Order exception Resolution6.34 Ratings1.218 Ratings
Best Alternatives
MYOBQuickBooks Online
Small Businesses
Dext Prepare (with Receipt Bank)
Dext Prepare (with Receipt Bank)
Score 9.2 out of 10
Dext Prepare (with Receipt Bank)
Dext Prepare (with Receipt Bank)
Score 9.2 out of 10
Medium-sized Companies
Accounting Seed
Accounting Seed
Score 8.4 out of 10
Accounting Seed
Accounting Seed
Score 8.4 out of 10
Enterprises
Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
Score 7.7 out of 10
Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
Score 7.7 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
MYOBQuickBooks Online
Likelihood to Recommend
1.9
(18 ratings)
4.2
(161 ratings)
Likelihood to Renew
9.5
(2 ratings)
2.5
(24 ratings)
Usability
2.0
(14 ratings)
3.9
(76 ratings)
Availability
-
(0 ratings)
2.0
(5 ratings)
Performance
-
(0 ratings)
1.0
(4 ratings)
Support Rating
1.9
(14 ratings)
1.9
(68 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)
1.4
(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.
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Intuit
It seems Intuit is more interested in generating revenue than taking care of their customers. After only 28 (working) days using it, I've had to call for Help 23 times, and, in my experience, only spoken to 2 people who had an understanding of basic accounting practices and the ramifications of some of their suggested fixes on the General Ledger.
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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.
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Intuit
  • It enables me to do a P&L for each specific program as requested by the county for the grant money that they give us.
  • It enables me to do [an] organizational budget as well as a budget for each specific program
  • It enables the accountant and the auditor access at any time for transparency
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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
Read full review
Intuit
  • The budgets feature leaves a lot be desired - difficult and clunky to populate and maintain.
  • Reporting for Budget vs Actual is available but the ability to reforecast based on updated data is not.
  • The rules function to default common types of expenses isn't perfect and will get confused if like amounts or a number of similar items present.
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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
All of the MYOB products are easy to use. Most of our clients use MYOB ACE payroll and Essentials but some of the customers who are proper accounts use a range of products like Account Right MYOB AE/AO, Practice manager, TAX manager, etc. I have never heard of any complaints and the support contacts are always approachable.
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Intuit
While QuickBooks Online is generally easy to navigate, there are some features and functions that often require a Google search in order to find out where they are actually hidden. Additionally, there are some simple customization features that are surprisingly not available for an otherwise advanced program (e.g. only having a pool of 4 fonts to choose from, only having 4 very limited templates for invoicing, not color selection, etc). While I would say that about 75% of users shouldn't have a problem finding their way around with basic functions, there is a learning curve if you want to be able to dive into some of the more useful features, almost to the point that you need to have a dedicated account manager in order to use QuickBooks Online most effectively.
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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
Support is great, all incidents been resolved. Quickbooks Online forum is very well organized and helpful. I like the fact that they let the community contribute in resolving issues. Most or many of your answers can be found online. You can also get help on YouTube, but the easiest way to get assistance is through their chat system.
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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.
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Intuit
I have used Wave Accounting for another business. I selected QuickBooks Online over Wave because of the features available from QuickBooks. Wave is great since it is free, but I feel that paying for QuickBooks Online is worth it for the features. In addition there is such a robust support network and training available for QuickBooks.
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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
  • It was great when we first started using it but there was a time when MYOB stopped supporting payroll tax tables for Apple computers and so we made the switch.
  • While we were using it staying on top of all of the pesky accounting details was a breeze.
  • We were very detail oriented to begin with and had a thorough understanding of basic accounting principles but anyone without even basic knowledge can quickly set up MYOB and get running fairly quickly and provide detailed reports to their CPA or CFO consultant for a deeper analysis of their business.
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Intuit
  • It has created a lot of cost and in-efficiency whenever we need to talk to support.
  • I spent a lot of time setting up their automatic reminders for past due invoices and it worked for a couple of months and then it stopped. It's currently being worked on by their tech team but it has been months and it is still not working. It would have saved me a lot of time.
  • Their multi-currency saves time in sending invoices abroad but it's limiting when a customer wants an invoice in USD instead of a foreign currency so I have to set up different customer accounts for different currencies.
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