COMPARE MYOB ACCOUNTING SOFTWARE AND MOIBOO ACCOUNTING SOFTWARE

MYOB ACCOUNTING SOFTWARE

 

COMPARE MYOB ACCOUNTING SOFTWARE Vs. MOIBOO ACCOUNTING SOFTWARE

An accounting system manages a business’s records to keep track of income, expenses and other financial activities and is used to create reports.

Importance of Accounting System

  1. Accuracy- Accounting system can help in increasing the accuracy of your records or eliminating human errors in calculation. Manual Bookkeeping is a tedious process and is prone to incorrect calculations which can have a huge impact on the business
  2. Speed – Accounting software helps to process the accounts with speed in comparison to manual processing.
  3. Cost – The use of an accounting software reduces the accounting department’s payroll and this, in turn, reduces the administration costs.
  4. Reports – Accounting software provides the management with the necessary reports to effectively run the business
  5. Time – Using accounting software saves a lot of time.
  6. Inventory – Accounting software can help in managing the inventory.

MOIBOOACCOUNTING SOFTWARE

Moiboo Accounting Software is an Online Accounting Software which caters to all the business needs. It has software modules for Accounting, POS and CRM. The best part about Moiboo is all the business operations are bundled in one software so that the business owner can track every aspect of the business. Unlike a traditional Accounting Software, Reach is accessible anywhere so all your employees can work using the software at the same time.

TOP PRODUCT FEATURES

Accounting Management

All functions relating to accounts are inbuilt with the software. You can manage your Accounting Ledgers, Bank & Cash Operations, Purchase & Sales Estimates, Warehouse Allocations, Expense Recording, Expense Grouping, Payments – Part or Full, Journal Entries, Receipts – Part or Full, Contra Entries, Financial Reports, Daybook and much more.

Tax Management

Our accounting software automatically calculates the taxes relevant to every bill created. Our Software is tailor-made as per the government norms for calculation of GST. It also comes with the option to add any number of taxes relevant to your business. In case of a change in tax percentages you can change it in the software on your own. All you have to do is add your tax percentage and our software will calculate the taxes automatically. This multiple tax scheme can also be applied to multiple products on a single purchase.

Income Management

You can create Quotations then the same can be converted as a Sales order or Pro-forma invoice or Invoice. From Invoice, you can create Receipts as well. Accountants will be able to know what payments have been received and what are pending in the reports. You can also set reminders for receiving payments

Expense Management

You can create Purchase Orders then the same can be converted as bill or payments. You can also create Debit notes for purchase returns. Accountants will be able to know which purchase bills have been paid and which are pending in the reports. You can also set reminders for making payments.

Key Features of Reach 

  • Warehouse Management
  • Purchase, Inventory Management & Consumption Tracking
  • Invoices
  • Reports
  • Sales Tracking
  • Loyalty Management 

MODULES

Order Management

Receive Job orders or Sales Orders and convert them into Invoices once ready

Manufacturing Management

Manage your Production process, Purchase approvals and Raw material Conversions and extract Finished Goods Reports

Warehouse

Godown Management, Raw materials, Packing Materials, Work-in-Progress, Finished Goods, Miscellaneous Stock, Stock-pointwise management

Point of Sale

Touch and Keyboard Billing counters. Works even when the Internet connection is cut. Separate Cash and delivery counters.

Lots and Barcode Management

Create Lots/ Batches, Auto-generate codes and print barcode labels. Read them automatically using a barcode scanner

Project

Cost Management, Order Management

Accounting

Income & Expense Grouping,Accounting Ledgers,Tax Heading Creations & Operations,Bank & Cash Creation & Operations,AssetLiability Creation & Operations,Income & Expense Recording,Journal Entries & Contra Transactions,etc

Invoicing

Create Invoices with your own branding or choose from over 20 templates (includes contractor Invoices). Generate Invoices or convert quotes to Invoices. Automatically convert invoices raised in foreign currency to INR. Raise recurring Invoices. Email, print or extract Invoices to pdf. Get reminded every time an Invoice is due. Send reminder SMS or emails.

Multi-Branch

Create multiple Branch and give an option to manage each of them individually business by the Owner.

Purchases

Purchase Orders/Estimates,Purchase Bills,Purchase Return,Vendor Outstanding Management.

Sales

Quotes, Multi-Product Operation, Sales Invoice, Sales Return, Recurring Invoices on one attempt, Customer Balance

Access

Multi-User operation with restriction menus, Auto Back up, Accounting Period Auto change, Any Location operation, Easy to handle, No hard accounting process and buttons, Auto conversion to accounting formats

Multi-Company

Create multiple Companies and give an option to manage each of them individually from the comfort of your smartphone

Auditor View

Full Financial Report availability, Read process by Auditor, Tax Reports, VAT Report with e-filing options, PF & ESI Reports, Tax Consulting Modules

Mobile Application

Access across tabs, iPads, iPhones and Android phones, pick photos of expense vouchers and attach to expenses, raise invoices, check cash and bank balances, daily profitability and other key reports on phone.

Business Automation

Leads from all sources, Leads extractions via mail server, Converting leads to appointments, Quotes, Converting quotes to Invoices, Email-SMS update, Delivery status update, Work pending strategy.

Operations and Process

Product & Service Grouping, Customised Invoice with Logo, Small, Medium or Large scale operations, Retail or Wholesale enabled, Product service and maintenance, Godown & Showroom wise operations etc..

Loyalty Management

Assign points for every sale and redeem them whilst billing next time

Addons

E-stores, Google docs, Google calendar, Project management tools, SMS gateways, Payment Gateways and many others.

Tally Import

Easily import excel files taken from Tally and import it into our Software for various time periods and manage accounts with ease

BENEFITS OF MOIBOO ACCOUNTING SOFTWARE

  1. Custom Made to suit your business
  2. Helps to capture your leads from Emails and Websites directly
  3. Tracks your orders
  4. Raises customized invoices
  5. Multi-currency
  6. Multi-user access controlled by admin
  7. Mobile App
  8. Manages your inventory
  9. Shows Branchwise profitability
  10. Securely backs up data
  11. Free cloud server
  12. All business data in one place
  13. Reporting

MYOB ACCOUNTING SYSTEM

MYOB is an entry-level accounting system which caters to the needs of a small and service-based business. It will help you take care of invoicing,  manage your cash receipts and expenditures,  help you with the basic bookkeeping functions, and generate the accounting reports for management and financial reporting purposes.

FEATURES

  • Accounting, GST and BAS
  • Payroll management
  • Manage customers and suppliers
  • Inventory management
  • Manage multiple currencies
  • Time billing
  • Live to report
  • Multi-user access
  • Create invoices
  • Coordinate payroll
  • Mobile friendly
  • Online support
  • Smartphone app
  • No lock-in contracts
  • LiveChat support
  • Bookkeeping
  • MYOB BankFeeds
  • Manage quotes, invoices & statements
  • Accept payment from invoices (PayDirect Online)
  • Track and pay expenses
  • Manage customers and suppliers
  • Bank feeds
  • Multiple accounts
  • Purchase order management
  • Pay employees & track leave
  • Automatic leave calculation
  • Real-time timesheets access for employees
  • Accept timesheets via online or mobile
  • Manage timesheets
  • Create and track jobs
  • Track profit and loss of jobs
  • Manage inventory items list
  • Track inventory levels
  • Collaboration tools
  • Real-time data

 BENEFITS

  • MYOB online solutions ensure you stay ahead of tax changes, keep control of your finances, be more productive and reduce risk.
  • Takes care of day to day accounts, to more complex business management
  • Fast and easy tax updates ensure you’re always up-to-date.
  • MYOB Essentials is a fast and easy way to manage your cash flow and ATO compliance requirements
  • Make it easy to meet your tax obligations with fast and easy updates including the 2016/17 tax and payroll release
  • Confidently handle PAYG, state-based payroll tax
  • Keep an eye on how much time and money has been spent and how it stacks up against your plan.
  • The inventory management software is so advanced, you’ll always be able to track what you buy and sell.
  • It’s easy to meet your tax obligations; reconcile your accounts, report on GST and lodge your BAS on time
  • Get a snapshot of key business indicators like cashflow and profitability.
  • Shape and customise how your quotes, invoices and purchase orders look and create them

DISADVANTAGES OF MYOB MALAYSIA

  • Complicated to set up. A bit hard to get your head around at the start.
  • Overly complex, features I do not need and cannot turn off.
  • Lack of follow up assistance.
  • Sometimes software mistakes appear while using it.
  • Many times slow and unresponsive
  • It costs a lot to maintain and stay current.

  

COMPARISON OF MOIBOO AND MYOB
Details Moiboo Accounting MYOB Essentials
Setup & access Online. 100% online, using computer, tablet or mobile.
Updates Updates happen automatically All updates happen automatically.
Backups Constant Backups Constant online backup & security.
Multiple User Access Yes. Yes.
Ease of use Good. Good.
Speed of reporting Easy Reporting facility Reporting can take a little longer in MYOB; reports run one at a time.
Quotes Quotes can be created easily MYOB offers a quotation system.
Invoices Invoices can be created from the sales orders and can be sent through email and WhatsApp Send invoices from your own default email program.
Receive payments Clients can use multiple online payment methods incl. PayPal. Can connect to an online store. Clients can use multiple online payment methods incl. PayPal. Can connect to an online store.
Receipting payments A payment from a customer can be quickly applied against a lot of invoices at once or applied to the oldest to the newest. A payment from a customer can be quickly applied against a lot of invoices at once or applied to the oldest to the newest.
Payroll Issue payslips, etc. Includes payroll for one person only. More staff requires a paid add-on or a different version of MYOB.
Employee Logins No. Only as a paid add-on.
Follow up debts Yes, by SMS etc. Yes.
International Currency Multi-currency facility available Not available on most versions without a paid add-on.
Expense Claims Available Not available.
Cost $14.95 per month. MANY versions, plans and add-ons.MYOB Essentials starts at $29/month.
 
AccountRight Standard is $43/Month, or $70/Month for AccountRight with payroll.
 
Some people feel MYOB has too many confusing versions, add-ons and fees.

WHY REACH IS BETTER COMPARED TO MYOB

  1. Free cloud server advantage
  2. All documents in one place
  3. Even if you have multiple businesses, All accounts are docked in a single account
  4. Easily import from Tally and Excel
  5. No worrying of unauthorized data intrusions
  6. Localised personally for all your business
  7. Personalised billing system
  8. Manage your customer
  9. Supplier Management
  10. Product Management
  11. Unlike traditional software, our products are hosted on the cloud and allow all your employees to work at the same time
  12. Custom made to suit your business
  13. Captures your leads from Emails and websites directly
  14. Tracks your orders
  15. Raises invoices
  16. Converts Invoices raised in Foreign Currency to Indian Rupees
  17. Imports from Excel and Tally
  18. Gives Multi-User access
    Allows to view reports on Mobile Phone
  19. Manages your inventory
  20. Shows your branch wise/sitewide profitability
  21. Securely backs up your data online
  22. Free cloud server
  23. All business data in one place

CONCLUSION

Moiboo is user-friendly and easily customizes with your business hence it can be implemented in a shorter period of time. It also comes with free anti-virus so you never have to worry about any virus attacks. Moiboo also allows you to restrict certain areas within the software so you can enjoy more security from unauthorized access in your data.

It allows you to manage multi-branch and multi-company this way you manage every business even without visiting your offices. It is cost-effective software that helps you to manage your business giving rise to more sales and more profit with lesser expenses. You can access all the updates in real-time and that makes it easier for you to take faster and better decisions.

 For more details, please visit : Moiboo Software

 

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2 Comments
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