MYOB vs. Square Invoices

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
Square Invoices
Score 9.2 out of 10
N/A
Square Invoices is a software invoicing solution from Square headquartered in San Francisco, California.N/A
Pricing
MYOBSquare Invoices
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
MYOBSquare Invoices
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Features
MYOBSquare Invoices
Payroll Management
Comparison of Payroll Management features of Product A and Product B
MYOB
7.0
11 Ratings
4% below category average
Square Invoices
-
Ratings
Pay calculation7.211 Ratings00 Ratings
Benefit plan administration6.97 Ratings00 Ratings
Direct deposit files7.19 Ratings00 Ratings
Salary revision and increment management6.97 Ratings00 Ratings
Reimbursement management6.87 Ratings00 Ratings
Customization
Comparison of Customization features of Product A and Product B
MYOB
6.1
6 Ratings
13% below category average
Square Invoices
-
Ratings
API for custom integration5.96 Ratings00 Ratings
Plug-ins6.25 Ratings00 Ratings
Security
Comparison of Security features of Product A and Product B
MYOB
7.0
11 Ratings
13% below category average
Square Invoices
-
Ratings
Single sign-on capability6.910 Ratings00 Ratings
Role-based user permissions7.111 Ratings00 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
MYOB
5.9
11 Ratings
24% below category average
Square Invoices
-
Ratings
Dashboards6.010 Ratings00 Ratings
Standard reports6.111 Ratings00 Ratings
Custom reports5.710 Ratings00 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
Square Invoices
-
Ratings
Accounts payable5.915 Ratings00 Ratings
Accounts receivable5.915 Ratings00 Ratings
Cash management5.314 Ratings00 Ratings
Bank reconciliation5.815 Ratings00 Ratings
Expense management6.111 Ratings00 Ratings
Time tracking6.26 Ratings00 Ratings
Fixed asset management4.98 Ratings00 Ratings
Multi-currency support2.07 Ratings00 Ratings
Multi-division support2.06 Ratings00 Ratings
Regulations compliance4.88 Ratings00 Ratings
Electronic tax filing5.19 Ratings00 Ratings
Self-service portal6.27 Ratings00 Ratings
Global Financial Support6.35 Ratings00 Ratings
Primary and Secondary Ledgers5.67 Ratings00 Ratings
Intercompany Accounting2.15 Ratings00 Ratings
Localizations6.35 Ratings00 Ratings
Journals and Reconciliations5.311 Ratings00 Ratings
Enterprise Accounting2.94 Ratings00 Ratings
Configurable Accounting4.88 Ratings00 Ratings
Centralized Rules Framework2.53 Ratings00 Ratings
Standardized Processes5.77 Ratings00 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
MYOB
3.7
8 Ratings
59% below category average
Square Invoices
-
Ratings
Inventory tracking6.68 Ratings00 Ratings
Automatic reordering2.95 Ratings00 Ratings
Location management2.85 Ratings00 Ratings
Manufacturing module2.75 Ratings00 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
MYOB
6.2
6 Ratings
16% below category average
Square Invoices
-
Ratings
Pricing6.26 Ratings00 Ratings
Order entry6.26 Ratings00 Ratings
Credit card processing6.25 Ratings00 Ratings
Cost of goods sold6.26 Ratings00 Ratings
Order Orchestration6.24 Ratings00 Ratings
End-to-end order visibility6.24 Ratings00 Ratings
Order exception Resolution6.24 Ratings00 Ratings
Best Alternatives
MYOBSquare Invoices
Small Businesses
QuickBooks Self-Employed
QuickBooks Self-Employed
Score 9.4 out of 10
vCita
vCita
Score 9.7 out of 10
Medium-sized Companies
Accounting Seed
Accounting Seed
Score 8.4 out of 10
TimeCamp
TimeCamp
Score 8.6 out of 10
Enterprises
Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
Score 7.8 out of 10
TimeCamp
TimeCamp
Score 8.6 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
MYOBSquare Invoices
Likelihood to Recommend
2.1
(18 ratings)
9.1
(7 ratings)
Likelihood to Renew
9.5
(2 ratings)
-
(0 ratings)
Usability
2.2
(14 ratings)
-
(0 ratings)
Support Rating
2.1
(14 ratings)
9.7
(2 ratings)
Implementation Rating
5.0
(1 ratings)
-
(0 ratings)
Ease of integration
1.0
(1 ratings)
-
(0 ratings)
User Testimonials
MYOBSquare Invoices
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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Block, Inc (Square)
Square Invoices is the best service that I have found for what it does: it's easy to use, nice to look at, and never seems to go to spam or be lost by clients. Clients mention that the setup is easier than services my competitors use. You can even attach your contract to the invoice, which is wonderful in case there are questions later on. Unfortunately, not being able to have clients alter quantities or select add-ons means for half of my services, I have to use a different, inferior service.
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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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Block, Inc (Square)
  • Adding a customer to invoice is super simple and takes minimal effort.
  • Payment collection is easy and seamless because Square Invoices allows the recipient to pay using credit/cards.
  • One of the fest features is allowing invoices to be recurring. If my contract stipulates a flat fee monthly, I can set the invoices to recur monthly for the duration of the contract.
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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
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Block, Inc (Square)
  • The reports section is not always the easiest to understand. It seems like I have to stop and think about options instead of it being 100% intuitive.
  • With the fees we pay per transaction, it would be nice to be able to add additional "limited" users for no extra cost.
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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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Block, Inc (Square)
No answers on this topic
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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Block, Inc (Square)
No answers on this topic
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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Block, Inc (Square)
The only time I had a problem was a false chargeback from a client. Square Invoices referenced our contract and ruled in my favor, and they did so in a timely manner. I sent them the contract and my email history with the client, and they quickly unfroze the amount of money.
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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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Block, Inc (Square)
Square Invoices is easier to use and automatically transfers your money to your bank account vs Paypal that holds your money and you have to manually transfer and it takes 3-5 days (many times more). Square Invoices looks better overall, and for the same fees as Paypal, provides a better service overall.
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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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Block, Inc (Square)
  • I love that I can sort my invoices in total, or by a specific time period to see how my sales are doing and comparing to prior time periods.
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