MYOB Product in Comparison
MYOB vs Xero
Hi there
We recently had a MYOB training and we found the following features are very impressive and wonder when will Xero start looking into these features for us?
*Consolidate P&L - able to consolidate different businesses in one P&L (all you need to do is tick the client file)
*Once P&L is consolidated, GL is also consolidated. Easier for inter-entity loan account matching.
*Layering - MYOB's P&L layout is highly customisable. They call it 'layering'. They have TY vs LY quarter x4 quarters + YTD.
Employee self onboarding - using sms to reply and avoid having employee to submit TFN via email. Well TFN probably will be an issue if sending TFN via phone. Not too sure how this works.
Free employee benefits access to discount - Flare (coming with MYOB subscriptions)
*Customised report - favourite for personal use and can share with other team members/client and can share with other clients, simply tick a button.
*Bank transactions has icon like [R] - for TPAR, [Q] - for quantity like fuel litre. For easy to identify which is missing from R or Q.
*Sales credit card fee pass on to customer is in-built in MYOB. Meaning replacing expensive square fee.
Thanks
Irene
Irene Lim
shared this idea
Hi Irene, it's good to hear efficiencies that you find in other software that you'd like to see Xero develop, however I do want to be upfront that we don't intend Xero to be a like for like with our competitors.
I've made sure to share your points here with the relative product teams but with a collection of ideas in the one it's quite hard for other community members to get understanding of what they'd be adding their support for as well as hard to share the collective interest in a specific change back with our product teams based on your post.
We have some ideas that I've noted below related to items you've noted and you're welcome to add your support to and follow for any updates.
- Reporting - Ability to consolidate multiple entities
- NZ and AU Payroll - Send link for easy onboarding of new employees
- Payment services - Auto Calculate Credit Card Fee or online payment fee and show on Invoice
In relation to customising your Profit & Loss - Xero also has a lot of flexibility through the use of the layout editor. In the editor you'll find you can add date columns to present different figures similar to what you've noted.
Once you've set up a report in Xero, there is also the ability to save as a custom report, and then make this the default if it's something you'd like to apply for others in your org.
We welcome you to start new ideas for individual asks that we can get a sense of support from the community.