What users are saying about
67 Ratings
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Top Rated
569 Ratings
67 Ratings
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Score 6.2 out of 100

Xero

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Top Rated
569 Ratings
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Score 8.7 out of 100

Feature Set Ratings

  • Xero ranks higher in 7 feature sets: Payroll Management, Customization, Security, Reporting & Analytics, General Ledger and Configurable Accounting, Inventory Management, Order Management

Payroll Management

6.6

MYOB

66%
8.3

Xero

83%
Xero ranks higher in 5/5 features

Pay calculation

7.1
71%
11 Ratings
8.1
81%
64 Ratings

Benefit plan administration

6.5
65%
7 Ratings
8.2
82%
23 Ratings

Direct deposit files

6.8
68%
9 Ratings
8.9
89%
49 Ratings

Salary revision and increment management

6.5
65%
7 Ratings
8.9
89%
41 Ratings

Reimbursement management

6.2
62%
7 Ratings
7.6
76%
54 Ratings

Customization

5.5

MYOB

55%
7.7

Xero

77%
Xero ranks higher in 2/2 features

API for custom integration

5.4
54%
6 Ratings
7.3
73%
78 Ratings

Plug-ins

5.5
55%
5 Ratings
8.2
82%
85 Ratings

Security

6.8

MYOB

68%
8.6

Xero

86%
Xero ranks higher in 2/2 features

Single sign-on capability

6.6
66%
10 Ratings
8.9
89%
72 Ratings

Role-based user permissions

7.1
71%
11 Ratings
8.4
84%
114 Ratings

Reporting & Analytics

6.0

MYOB

60%
8.2

Xero

82%
Xero ranks higher in 3/3 features

Dashboards

6.2
62%
10 Ratings
8.0
80%
129 Ratings

Standard reports

6.4
64%
11 Ratings
8.8
88%
132 Ratings

Custom reports

5.5
55%
10 Ratings
7.9
79%
121 Ratings

General Ledger and Configurable Accounting

5.3

MYOB

53%
8.1

Xero

81%
Xero ranks higher in 21/21 features

Accounts payable

6.4
64%
15 Ratings
8.7
87%
130 Ratings

Accounts receivable

6.4
64%
15 Ratings
8.7
87%
131 Ratings

Cash management

5.8
58%
14 Ratings
8.1
81%
121 Ratings

Bank reconciliation

6.4
64%
15 Ratings
8.9
89%
137 Ratings

Expense management

6.5
65%
11 Ratings
8.1
81%
125 Ratings

Time tracking

5.6
56%
6 Ratings
6.9
69%
42 Ratings

Fixed asset management

5.0
50%
8 Ratings
7.2
72%
86 Ratings

Multi-currency support

3.3
33%
7 Ratings
8.2
82%
82 Ratings

Multi-division support

3.8
38%
6 Ratings
7.7
77%
74 Ratings

Regulations compliance

4.9
49%
8 Ratings
8.3
83%
67 Ratings

Electronic tax filing

5.9
59%
9 Ratings
8.3
83%
65 Ratings

Self-service portal

5.4
54%
7 Ratings
7.7
77%
80 Ratings

Global Financial Support

5.9
59%
5 Ratings
8.2
82%
36 Ratings

Primary and Secondary Ledgers

5.6
56%
7 Ratings
7.7
77%
34 Ratings

Intercompany Accounting

3.9
39%
5 Ratings
7.4
74%
40 Ratings

Localizations

5.9
59%
5 Ratings
8.2
82%
40 Ratings

Journals and Reconciliations

5.8
58%
11 Ratings
8.7
87%
89 Ratings

Enterprise Accounting

4.8
48%
4 Ratings
7.4
74%
33 Ratings

Configurable Accounting

5.4
54%
8 Ratings
8.3
83%
59 Ratings

Centralized Rules Framework

3.9
39%
3 Ratings
8.2
82%
33 Ratings

Standardized Processes

5.6
56%
7 Ratings
8.5
85%
59 Ratings

Inventory Management

5.0

MYOB

50%
6.9

Xero

69%
Xero ranks higher in 3/4 features

Inventory tracking

6.6
66%
8 Ratings
6.1
61%
60 Ratings

Automatic reordering

4.8
48%
5 Ratings
7.4
74%
24 Ratings

Location management

4.5
45%
5 Ratings
7.8
78%
29 Ratings

Manufacturing module

4.3
43%
5 Ratings
6.4
64%
16 Ratings

Order Management

5.5

MYOB

55%
7.7

Xero

77%
Xero ranks higher in 7/7 features

Pricing

5.5
55%
6 Ratings
7.2
72%
61 Ratings

Order entry

5.5
55%
6 Ratings
7.9
79%
56 Ratings

Credit card processing

5.5
55%
5 Ratings
8.6
86%
57 Ratings

Cost of goods sold

5.5
55%
6 Ratings
8.1
81%
65 Ratings

Order Orchestration

5.5
55%
4 Ratings
7.4
74%
21 Ratings

End-to-end order visibility

5.5
55%
4 Ratings
7.4
74%
24 Ratings

Order exception Resolution

5.5
55%
4 Ratings
7.6
76%
17 Ratings

Attribute Ratings

  • MYOB is rated higher in 1 area: Likelihood to Renew
  • Xero is rated higher in 5 areas: Likelihood to Recommend, Usability, Support Rating, Implementation Rating, Ease of integration

Likelihood to Recommend

5.4

MYOB

54%
17 Ratings
8.9

Xero

89%
155 Ratings

Likelihood to Renew

9.5

MYOB

95%
2 Ratings
9.4

Xero

94%
29 Ratings

Usability

5.7

MYOB

57%
13 Ratings
8.9

Xero

89%
80 Ratings

Availability

MYOB

N/A
0 Ratings
9.0

Xero

90%
20 Ratings

Performance

MYOB

N/A
0 Ratings
10.0

Xero

100%
16 Ratings

Support Rating

5.4

MYOB

54%
14 Ratings
7.5

Xero

75%
37 Ratings

In-Person Training

MYOB

N/A
0 Ratings
9.1

Xero

91%
1 Rating

Online Training

MYOB

N/A
0 Ratings
10.0

Xero

100%
5 Ratings

Implementation Rating

5.0

MYOB

50%
2 Ratings
9.5

Xero

95%
18 Ratings

Configurability

MYOB

N/A
0 Ratings
9.0

Xero

90%
1 Rating

Ease of integration

1.0

MYOB

10%
1 Rating
7.9

Xero

79%
57 Ratings

Product Scalability

MYOB

N/A
0 Ratings
10.0

Xero

100%
6 Ratings

Vendor post-sale

MYOB

N/A
0 Ratings
9.0

Xero

90%
2 Ratings

Vendor pre-sale

MYOB

N/A
0 Ratings
10.0

Xero

100%
2 Ratings

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

Xero

Xero is a 10-point software since it streamlines accounting and financial processes with great agility, generating immediate productivity. I recommend using all its features since, from creating reports to paying bills, the whole process is easy and does not require much knowledge. We can use it remotely with our phones and still build fluidity, plus it can be integrated with Salesforce, building even more power for short-term results.
Read full review

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

Xero

  • Reporting (customizing look and contents and the ability to add multiple comparative periods is brilliant and not found in many other competitors.
  • Bank feeds. The way they organize bank feed and subsequent matching or coding is very user-friendly for non-accountants and fast for accountants.
  • Can file VAT returns and is MTD compliant in UK.
  • Customer support has been helpful (at least in my experience).
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
Read full review

Xero

  • Overall it is a great platform and quite comprehensive for US based users.
  • However, if we focus on multinational companies that want to integrate the information of different companies in several countries within the same solution, we find the need to carry out reports outside the platform to provide the accounting structure and compliance necessary in countries outside the US.
Read full review

Pricing Details

MYOB

Starting Price

Editions & Modules

MYOB editions and modules pricing
EditionModules

Footnotes

    Offerings

    Free Trial
    Free/Freemium Version
    Premium Consulting/Integration Services

    Entry-level set up fee?

    No setup fee

    Additional Details

    Xero

    Starting Price

    $11 per month

    Editions & Modules

    Xero editions and modules pricing
    EditionModules
    Early111
    Growing322
    Established623

    Footnotes

    1. per month
    2. per month
    3. per month

    Offerings

    Free Trial
    Free/Freemium Version
    Premium Consulting/Integration Services

    Entry-level set up fee?

    No setup fee

    Additional Details

    Likelihood to Renew

    MYOB

    Our clients seems hesitant to change softwares so I don't see why we wouldn't be renewing with MYOB
    Read full review

    Xero

    In addition to the matters covered in this review, my reason for renewing this product is that Xero's functionality and the constant updates that the company provides, makes the software even more business friendly. The software therefore builds a brand loyalty among customers.
    Read full review

    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.
    Read full review

    Xero

    It has deep functionality, and it's easy to use for invoicing, quoting, financial reporting, and customer management. This product manages financial information for small business owners in a unique way. The phone interface is really good as well-meaning I can keep on top of the finances on my phone and feel confident about the financial decisions I'm making.
    Read full review

    Reliability and Availability

    MYOB

    No answers on this topic

    Xero

    We have been actively using and 100% Xero based for our ecommerce accounting practice for over 4 years. There has on been one real outage for more than 5 minutes. Xero was open and transparent about the outage, what they were doing to resolve the issue, and provided 15 minute updates. Showing how they care about their customers and partners. Plus, showing that their customers care too, were understanding, and went surfing or in our case took a nap. Couldn't run our business without Xero as a partner.
    Read full review

    Performance

    MYOB

    No answers on this topic

    Xero

    Pages generally load quickly, but it's a fairly common occurrence to have pages taking a bit longer than I'd like to load (as in, 4+ seconds). Occasionally I have to refresh a page to get it to work. Bank feed and integrations tend to be slow in general, but that could easily be due to API latency on the side of the other parties. Most of the time, though, the bank feeds refresh before I login so it's not a huge problem. Not necessarily good performance compared to a local app like QuickBooks desktop, but definitely good performance for a cloud application. Room for growth? yes.
    Read full review

    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.
    Read full review

    Xero

    Support has always been responsive and quickly resolved any questions I have. The only reason I don't give full points is because there's no way to call for immediate help. I'm fine with this because I don't need it badly enough to pay for it
    Read full review

    In-Person Training

    MYOB

    No answers on this topic

    Xero

    The format was great; someone was there to ask questions or help if you were stuck.
    Read full review

    Online Training

    MYOB

    No answers on this topic

    Xero

    All of Xero's training is online and available for anyone (business owner or accountants) to learn and become experts in their system. There is a range of content from product training to real world webinars from their partners. Xero is beautiful accounting software and their training is the same.
    Read full review

    Implementation Rating

    MYOB

    No answers on this topic

    Xero

    If it can be done, time the implementation near a new fiscal year so you can start clean. Otherwise, you have to go back and do historical data from the beginning of the fiscal year, which can be brain draining.
    Read full review

    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

    Xero

    Solely the ease of use. This has saved me so much time on day-to-day tracking it is astonishing. Not only does it make it super easy to send invoices, but it also makes it easy to print invoices off, eases the process of partial payments, and keeps good track of all notes made to the account.
    Read full review

    Scalability

    MYOB

    No answers on this topic

    Xero

    I have yet to fully stress test the product given the size of the company where I am using it. I am sure as we scale to more customers, more vendors and more reporting requirements, I will have a better understanding of what it is capable of in terms of bandwidth and processing
    Read full review

    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.
    Read full review

    Xero

    • Xero helps to [minimize] payroll errors, saving the business money[.]
    • Tracking cost of goods is very easy which means that controlling expenses is easy[.]
    • It's extremely easy to pull up all key financial data to get both broad and specific snapshots of the business's financial health[.]
    Read full review

    Screenshots

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