Comparison on Accounting Software

This report discusses the issues faced due to manual handling of accounts and the benefits of implementing automation software programs like MYOB, Reckon One, and QuickBooks. It also provides a comparison between these software programs and recommendations for better implementation.

Running head: COMPARISON ON ACCOUNTING SOFTWARE
COMPARISON ON ACCOUNTING SOFTWARE
Name of Student
Name of University
Author’s Note

1COMPARISON ON ACCOUNTING SOFTWARE
Executive summary
Manual handling of data causes numerous issues in an organization. Some issues include frequent
errors, mishandling of data, data loss and many more. Data belonging to an organization is very
crucial especially the data related to the accounting department, hence the error in the handling of user
or staff accounts might result in numerous issues for the organization. These issues that arise from
manual data handling can be resolved using an automation software program. This program would
allow the organization to securing their data without any error or minimum error. This report
discusses three automation software program named Recon One, MYOB Essentials and QuickBooks
plus Online.

2COMPARISON ON ACCOUNTING SOFTWARE
Table of Contents
Summary....................................................................................................................................3
Introduction................................................................................................................................3
Findings......................................................................................................................................3
Issues present due to manual handling of data...........................................................................3
Benefits of automation software programs................................................................................4
Conclusion..................................................................................................................................5
Recommendations for better implementation of software programs.........................................5
References..................................................................................................................................6

3COMPARISON ON ACCOUNTING SOFTWARE
Summary
Introduction to the implementation of the automation software will be provided in this report.
This report will also discuss the issues that are present in the manual handling of accounts. Benefits of
implementing the MYOB, Reckon One and QuickBooks will be performed as per the management of
the accounting structure. The cost that is incurred in the buying of the applications will be stated. The
recommended software application will also be performed. Comparison between the automated
software’s will also be provided in the report. The hiring of automation engineers, resolving the
complaints of the employees are the few recommendations that might help in better prosecution of the
project. On the basis of findings it has been concluded that MYOB must be purchased because it
would provide various facilities to the organization including automation of data related to the bank.
The software is the best in Australia for small businesses is also a major reason for which it must be
chosen by the organization.
Introduction
This report would focus on some issues faced due to manual handling of accounts. Issues
including the problem in accessing a particular data might be presents in some cases data might get
misplaced or lost (Flaherty 2017). Automation software programs can solve the issues, some
automation software programs that would be discussed in this report are MYOB Essentials,
QuickBooks plus Online and Reckon One.
Findings
Issues present due to manual handling of data
Some issues faced by the company using manual handling of accounts include loss of data
during the audits, the letter of engagement among auditor and client must be of great importance, and
in some cases the letter of engagement is misplaced (Andon, Doroshenko and Beketov 2015).
Efficiency is also an issue where clients are dissatisfied with the services provided by the
organization, relational breakdown and some issues become the baseline of workplace issues. In some
cases, companies do not agree in switching to new practices because they thing it to be a loss of their

4COMPARISON ON ACCOUNTING SOFTWARE
revenue (Machera and Machera 2017). Unqualified labour is also a major issue for the organization
where human error becomes common.
Benefits of automation software programs
The automation software program helps organizations to automate several tasks that were
done manually. These programs can be used in order to reduce the number of errors that were caused
as a result of manual handling. Usage of automated software programs would help the organization in
solving the complications, the business owners would be allowed to keep tract of crucial data and
various transactions (Wagner 2017). It also helps in processing data in a faster way; the data can be
accessed whenever needed without any delay. The software is very user friendly and applications are
available for staffs. All the software requires a specific amount of investment.
Comparison in between MYOB, Reckon One and QuickBooks
Features MYOB Reckon One QuickBooks
Cost of
purchasing
software
The cost of purchasing the
MYOB advanced software
along with the license for
each user would be about
139.66 AUD per month
(Flaherty 2017).
Reckon One cost around 45.14
AUD per month with the fully
functional system. If the
software is only used for
cashbook and reporting, the
software can be purchased at
about 7 AUD per month
(Flaherty 2017).
QuickBooks can cost
around 421 AUD per
month with full access
and licenses, and at the
same time, it would also
support multiple users
and can also provide a
discount if a full
implementation includes
a number of users
(Flaherty 2017).
Ease of
Use
MYOB Essentials has been
Australia’s best choice for
small businesses; it is
software that is concise and
easy for using (Järvinen and
Taiminen 2016). It also helps
in automating data related to
the bank.
Reckon one is mystifying, and it
consists of time as well as
expense module where it records
the time and expense invested in
a particular client. It is a mix of
omissions as well as some
features that are in-depth in
nature (Wagner 2017).
QuickBooks plus Online
is considered as the
most robust version that
is available online and
this has around 68
reporting features. Some
of its features include
track inventory, creating
purchase orders, print
and prepare tax forms
and many more (Zare
2015).
Online
invoices
and
quoting
MYOB Essentials provide
online invoices and quoting
online with real time
visibility and also has the
provisions to send them via
direct email through
Reckon One is probably the best
service provider for online
invoices and quoting as it is a
much faster system that
generates faster invoices and
quoting and are extremely
Quickooks provide
multiple creations of
online invoices and
quotes.

5COMPARISON ON ACCOUNTING SOFTWARE
Features MYOB Reckon One QuickBooks
hyperlinks. customisable in this regard.
Mobile
application
MYOB mobile applications
are present for both Android
and iOS atmosphere, even
producing the invoices over
the app (Flaherty 2017).
Reckon one has a mobile
application that helps the
generation of invoices, bills,
expenses and timesheets. The
real time management of data is
also available through the app
(Flaherty 2017).
QuickBooks plus online
is an app that helps the
users in having an
integrated, barcode-
based and mobile
inventory system.
Managing the expenses
and cash flow is also
available via the app
(Flaherty 2017).
Data
Screening
Data Screening is not
available.
Screening of data can be
performed in the Reckon One.
Data Screening is not
available.
Dashboard
Table 1: Comparison between three softwares
(Source: Andon, Doroshenko and Beketov 2015)
Conclusion
From the above report it can be concluded that manual handling of accounts payable might
prove to be risky for the organization. These problems can be solved by using automation software
programs. They would help the organization in saving the entire data of the accounting system in an
automated manner. This would help them to save time, cut cost and improve productivity. The
comparison as mentioned above would clarify the best software required for the purpose amongst the
chosen accounting software. On the basis of findings, the organization must choose MYOB as the
software for the purpose of software automation, this software muse is used because it provides real
time visibility along with having provisions for sending them via email using hyperlinks. This
software also has a mobile application and is present for Android as well as iOS atmosphere. This
software has been the best choice for various small businesses; it is user friendly as well. It would
help the organization in automating data that is related to the bank.
Recommendations for better implementation of software programs
Few recommendations that can be implemented by the organization during adopting
automation software program are as follows

6COMPARISON ON ACCOUNTING SOFTWARE
 Hire automation engineers that are dedicated and have much knowledge in this
specific field (Järvinen and Taiminen2016). This would help the organization in
having an effective automation software system.
 Identify the opportunities provided by the implementation of automation and make
use of them to the fullest.
 All the employees must be held responsible for their own activities or tasks
performed by them; this would decrease the possibility of errors.
 An automation tool that is familiar to the resources must be selected. This tool would
depend on the kind of services provided by the organization; consider that the
resources must be familiar to the automation tool (Woolley 2016). In case they are
not familiar, the company would face difficulty in implementing the software in its
workplace.

7COMPARISON ON ACCOUNTING SOFTWARE
References
Andon, F. I., Doroshenko, A. E., Beketov, A. G., Iovchev, V. A., & Yatsenko, E. A. 2015. Software
tools for automation of parallel programming on the basis of algebra of
algorithms. Cybernetics and systems analysis, 51(1), 142-149. [Retrieved from:
https://link.springer.com/article/10.1007/s10559-015-9706-0]
Flaherty, S. 2017. Bookkeeping in the Cloud: Advancements in Accounting Software (Doctoral
dissertation, Appalachian State University). [Retrieved from:
https://libres.uncg.edu/ir/asu/f/FLAHERTY,%20SEAN_December%202017%20Honors
%20THESIS.pdf]
Järvinen, J., & Taiminen, H. 2016. Harnessing marketing automation for B2B content
marketing. Industrial Marketing Management, 54, 164-175. [Retrieved from:
https://jyx.jyu.fi/bitstream/handle/123456789/52186/finaldraftautomationimm.pdf?
sequence=1]
Machera, R. P., & Machera, P. C. 2017. Computerised Accounting Software; A Curriculum That
Enhances an Accounting Programme. Universal Journal of Educational Research, 5(3), 372-
385.[Retrieved from: https://files.eric.ed.gov/fulltext/EJ1134478.pdf]
Wagner, W. S. 2017. Research automation for infrastructure and software: a framework for domain
specific research with cloud computing (Doctoral dissertation, The University of Texas at San
Antonio). [Retrieved from:
https://search.proquest.com/openview/3ff3325f7e26f0555a58adc151de8522/1?pq-
origsite=gscholar&cbl=18750&diss=y]
Zare, I. 2015. Study of Effect of Accounting Information Systems and Software's on Qualitative
Features of Accounting Information.[Retrieved from: http://ijmsbr.com/Study%20of
%20effect%20of%20accounting.PDF]