MYOB vs. Zoho Books

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
Zoho Books
Score 8.8 out of 10
N/A
Zoho Books is an accounting solution that is designed to help small businesses manage their finances. This solution includes dashboards and a wide variety of reports. Business users can automate tasks and set up custom workflows. The vendor offers a 14 day free trial.
$0
For businesses with turnover <50K USD per annum
Pricing
MYOBZoho Books
Editions & Modules
No answers on this topic
Free
$0
For businesses with turnover <50K USD per annum
Standard
$15
Per Organization/Month, Billed Annually
Professional
$40
Per Organization/Month, Billed Annually
Premium
$60
Per Organization/Month, Billed Annually
Offerings
Pricing Offerings
MYOBZoho Books
Free Trial
NoYes
Free/Freemium Version
NoYes
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup fee$15 Per Organization/Month, Billed Annually
Additional DetailsZoho Books is available for both monthly and yearly plans. Users who sign up for the annual plan get a discount.
More Pricing Information
Community Pulse
MYOBZoho Books
Considered Both Products
MYOB
Chose 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 …
Zoho Books

No answer on this topic

Top Pros
Top Cons
Features
MYOBZoho Books
Payroll Management
Comparison of Payroll Management features of Product A and Product B
MYOB
7.0
11 Ratings
3% below category average
Zoho Books
-
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 management6.97 Ratings00 Ratings
Customization
Comparison of Customization features of Product A and Product B
MYOB
6.1
6 Ratings
15% below category average
Zoho Books
7.0
15 Ratings
1% below category average
API for custom integration5.96 Ratings7.015 Ratings
Plug-ins6.35 Ratings00 Ratings
Security
Comparison of Security features of Product A and Product B
MYOB
7.0
11 Ratings
12% below category average
Zoho Books
10.0
24 Ratings
23% above category average
Single sign-on capability7.010 Ratings10.019 Ratings
Role-based user permissions7.111 Ratings9.923 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
MYOB
5.9
11 Ratings
24% below category average
Zoho Books
9.0
23 Ratings
18% above category average
Dashboards6.010 Ratings9.023 Ratings
Standard reports6.111 Ratings9.022 Ratings
Custom reports5.710 Ratings9.01 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
40% below category average
Zoho Books
8.9
24 Ratings
19% above category average
Accounts payable5.915 Ratings9.022 Ratings
Accounts receivable5.915 Ratings9.023 Ratings
Cash management5.314 Ratings8.021 Ratings
Bank reconciliation5.815 Ratings7.921 Ratings
Expense management6.111 Ratings8.022 Ratings
Time tracking6.36 Ratings8.014 Ratings
Fixed asset management4.98 Ratings00 Ratings
Multi-currency support2.07 Ratings10.013 Ratings
Multi-division support2.06 Ratings00 Ratings
Regulations compliance4.88 Ratings10.011 Ratings
Electronic tax filing5.19 Ratings00 Ratings
Self-service portal6.37 Ratings10.015 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 Accounting2.84 Ratings00 Ratings
Configurable Accounting4.88 Ratings00 Ratings
Centralized Rules Framework2.43 Ratings00 Ratings
Standardized Processes5.87 Ratings00 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
MYOB
3.7
8 Ratings
58% below category average
Zoho Books
8.0
13 Ratings
18% above category average
Inventory tracking6.68 Ratings8.913 Ratings
Automatic reordering2.85 Ratings7.07 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
6.3
6 Ratings
15% below category average
Zoho Books
9.5
21 Ratings
26% above category average
Pricing6.36 Ratings9.018 Ratings
Order entry6.36 Ratings9.017 Ratings
Credit card processing6.35 Ratings10.018 Ratings
Cost of goods sold6.36 Ratings10.017 Ratings
Order Orchestration6.34 Ratings00 Ratings
End-to-end order visibility6.34 Ratings00 Ratings
Order exception Resolution6.34 Ratings00 Ratings
Best Alternatives
MYOBZoho Books
Small Businesses
QuickBooks Self-Employed (discontinued)
QuickBooks Self-Employed (discontinued)
Score 9.3 out of 10
QuickBooks Self-Employed (discontinued)
QuickBooks Self-Employed (discontinued)
Score 9.3 out of 10
Medium-sized Companies
Accounting Seed
Accounting Seed
Score 8.3 out of 10
Accounting Seed
Accounting Seed
Score 8.3 out of 10
Enterprises
Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
Score 6.9 out of 10
Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
Score 6.9 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
MYOBZoho Books
Likelihood to Recommend
1.5
(18 ratings)
8.8
(25 ratings)
Likelihood to Renew
9.5
(2 ratings)
-
(0 ratings)
Usability
1.5
(14 ratings)
9.9
(7 ratings)
Support Rating
1.5
(14 ratings)
5.3
(5 ratings)
Implementation Rating
5.0
(1 ratings)
-
(0 ratings)
Ease of integration
1.0
(1 ratings)
-
(0 ratings)
User Testimonials
MYOBZoho Books
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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Zoho
If using other cloud applications and you wish to create Zoho Books transactions via APIs, Zoho Books is great. The overall UI and flow of the application are great. If you need a detailed job cost accounting solution and robust reporting there is some room for improvement here.
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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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Zoho
  • Zoho Books invoicing and receipting features are second to none. We find it easy to quickly invoice clients and add items to their bills and also for our own receipting internally.
  • The accounting features are great for our accounting team to be able to see where we are financially and how the business is doing.
  • The ability to add contacts and run a mini CRM channel with clients within Zoho is invaluable. Since we use this in conjunction with our other CRM channels, it helps to have a centralized place to follow up and see through a sales funnel.
  • Zoho Books allows us to take payments from clients around the globe a feature we didn't have when we used another accounting system.
  • The pricing for Zoho Books is fairly reasonable for an SME organization which is a great for us as it pays itself back many times over every month.
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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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Zoho
  • Zoho Books is only available in Texas and California. There is no integration allowed for paying employee expenses. The absolute worst aspect is the fact that if you make even the slightest error in data input there is no backing up. You cannot undo an error.
  • The system does not allow change once implemented, so you must get every one of your beginning balances perfect. The practice of Journal Entries is cumbersome. When reconciling, Zoho Books has adopted a number of required steps that significantly overcomplicate reconciliation using practices that are not consistent with general accounting principles in the US.
  • On the customer side, you must look in two places to see the beginning balance and the current receivables that might exist for current invoicing.
  • The way the system works, you must avoid having much trust with the balances depicted. So far, it appears that Zoho Books uses what we called in school "that new math."
  • It would be terrifying to rely on this bookkeeping system to support an IRS Audit. The system violates too many fundamental accounting principles.
  • The software is used by so few people that there is concern that we might never find a skilled bookkeeper.
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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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Zoho
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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Zoho
Customization is the biggest struggle for us and most of the time we need to involve a tech person. The chat support is a great feature and very helpful. It would be great to be able to customize and create invoices and correspondence (templates) such are reminders in multiple languages within one organization. The currency (USD) would be the same. We have clients in different countries that don't speak English but pay in USD.
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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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Zoho
The support team feels very disjointed. We have filtered through a number of "lead" contacts and are frequently spammed by other Zoho members. Once getting an appropriate support contact on the phone - the team is very helpful, it just takes a lot of hoop jumping to get there. We actually unsubscribed from their support package as we were not getting the value we were looking for.
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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
Zoho
We had a lot of problems with Exact Online, support-wise and price-wise. So Zoho Books wins on every point there. While Exact offers way more options, it tends to be really slow... and complex. Again Zoho Books wins. If you want an easy-to-use tool and not pay a lot of money, or if you are a small administration office with a few clients, this tool will be perfect for you.
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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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Zoho
  • Integration: Zoho Books offers out of the box integrations to extend the functionality and connect with the applications you love like MailChimp, Microsoft Outlook, PandaDoc, and Quickbooks, etc.
  • Flexibility makes Zoho Books great!
  • Since I can use forecast reports, I can create customizable sales forecast data from the dashboard to accurately measure revenue forecasts and establish sales quotas.
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ScreenShots

Zoho Books Screenshots

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