Cloud Based Accounting Software: MYOB, QuickBooks, and SAASU

This article discusses the advantages of MYOB, QuickBooks, and SAASU as cloud based accounting software. It covers various features of these software such as general ledger, accounts payable, accounts receivable, payroll, reporting, inventories, and digital dashboard. The article also suggests MYOB as the most appropriate software for Action Sports due to its additional features like job tracking, purchase order, and inventory tracking.

Running head: ACCOUNTING INFORMATION SYSTEM
Accounting information system
Name of the student
Name of the university
Student ID
Author note

1ACCOUNTING INFORMATION SYSTEM
Table of Contents
Answer 1....................................................................................................................................2
Answer 2....................................................................................................................................3
Reference....................................................................................................................................5

2ACCOUNTING INFORMATION SYSTEM
Answer 1
Various cloud based accounting software that can be used for accounting purposes are as
follows –
MYOB –
MYOB is used for medium and small sized firms and is in existence from 1980’s.
During the 2014 it released its cloud solution. Various advantages of the software are –
 The interface of the software is same as desktop version and it reduce learning curve
for the long-term users.
 It allows the application for quick payment against bunch of invoices at once
 It can be used to apply discounts to the customers automatically who make the
payment within specific terms. On the contrary XERO needs manual ticking
(Business Software & Solutions | MYOB Australia, 2018)
QuickBooks –
Various advantages that are provided by QuickBooks against XERO are as follows –
 GST functions – GST reports can be generated through online QuickBooks that is
required by the taxation authority
 Timesheets – QuickBooks has built-in functions for time sheets that can be use to re-
bill the customer easily
 Pricing – though both XERO as well as QuickBooks have unlimited uses if signed up
with 3E accounting, pricing of QuickBooks online packages are cheaper as compared
to XERO.

3ACCOUNTING INFORMATION SYSTEM
 Cost effective – QuickBooks online is cost effective for the long run as compared to
XERO as almost all the functions are built in. Further, it is simple and will suit for
less complicated accounting system (Accounting Software for Small Business - Intuit
QuickBooks, 2018).
SAASU –
Various advantages those are making the software popular are as follows –
 Value for money – this software can handle large level of complexity in business that
can be handled by expensive software solutions. It offers best value in the market and
better functionality against the payment
 Viewing the position of business in real time – it automates the collection of debt that
gives various benefits to the business like reduced days for debtors, improved cash
flow and most importantly the peace of mind.
 It removes all the awkwardness and discomfort that exists between the software and
its clients (Saasu Online Accounting Software, 2018).
Answer 2
The above mentioned all three software supports various accounting features like –
 General ledger
 Accounts payable
 Account receivable
 Payroll
 Reporting
 Inventories
 Digital dashboard

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 Secure bank feeds
The company is using XERO as their accounting software. However any other most
appropriate software is to be used against XERO then the company shall go for MYOB. The
reason for choosing MYOB is that before introduction of cloud accounting in Australia
MYOB was the dominant player. Over the past few years they released their own offerings
for cloud based for small to medium business owners. Further, MYOB AccountRight and
MYOB Essentials can well compete with XERO juggernaut (Online Accounting Software –
Free Trial, Free Support | Xero, 2018). MYOB AccountRight can cover additional features
required by small to medium level business that includes job tracking, purchase order and
inventory tracking. Therefore, if Action Sports is searching for more appropriate accounting
software as compared to XERO they shall choose MYOB. It will assist them with additional
features apart from that are provided by XERO.

5ACCOUNTING INFORMATION SYSTEM
Reference
Accounting Software for Small Business - Intuit QuickBooks. (2018).
Quickbooks.intuit.com. Retrieved 4 April 2018, from
https://quickbooks.intuit.com/in/
Business Software & Solutions | MYOB Australia. (2018). Myob.com. Retrieved 4 April
2018, from https://www.myob.com/au
Online Accounting Software – Free Trial, Free Support | Xero. (2018). Xero Accounting
Software. Retrieved 4 April 2018, from https://www.xero.com/
Saasu Online Accounting Software. (2018). Saasu Online Accounting. Retrieved 4 April
2018, from https://www.saasu.com/