Comparative Analysis of Accounting Software Packages

The landscape of business financial management has been significantly transformed by the advent of advanced accounting software. This paper provides an in-depth evaluation of leading solutions like MYOB, Xero, Reckon, and Saasu. Each software is scrutinized for its unique features, usability, scalability, and integration capabilities to determine how they can enhance efficiency in modern businesses. The analysis also considers user reviews, cost-effectiveness, and the adaptability of these platforms within different business environments. By comparing their functionalities, this research aims to guide businesses in selecting the most suitable accounting software that aligns with their specific needs and objectives.

Running head: ACCOUNTING SOFTWARE PACKAGES
Accounting Software Packages
Name of the Student:
Student ID:
Name of the University:
Author’s note:

1ACCOUNTING SOFTWARE PACKAGES
Executive Summary
The report had covered the comparison of the five accounting software package namely Xero,
Myob, Intuit, Reckon, and Saasu. The comparison had been done on the basis of the functions
and values it brings to the organization. The study had been done for selecting one accounting
software package for the operations. The accounting software package that results in forming the
best suitable choice for the organization is Intuit QuickBooks.

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Table of Contents
Introduction......................................................................................................................................3
Comparison of the five accounting software packages...................................................................3
Selection and Justification of the selection of any one..................................................................12
Conclusion.....................................................................................................................................13
References......................................................................................................................................15

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Introduction
The accounting software packages have been largely used for the development of the
operations of the business organization (Mas et al. 2014). The development of the operations
would be implied for the formation of the improved analysis and modification. The development
of the operations would be helpful in forming the modification of the system analysis and
formation of the development. The employment of the improved services method would be
helpful for forming the modification of the information system development. The integration of
the accounting software packages would be helpful for the newly formed export trading
company and deployment of the alignment method.
The following assignment is developed for forming the analysis and comparison of five
accounting software packages of Australia and evaluating them for selecting one specific
software package for the newly formed export trading corporation. The assignment had been
divided into two parts and the first part would compare the five accounting software packages
like Xero, Myob, Intuit, Reckon, and Saasu. The second part would select an accounting
software package and provide justification for the selection of the accounting.
Comparison of the five accounting software packages
The five accounting software packages for comparison are Xero, Myob, Intuit, Reckon,
and Saasu (Simunek, van Genuchten and Sejna 2016). These accounting software are being
widely used and cover most of the operational demand for the accounting software packages.
These accounting software packages exploit and use most of the improved technologies for
gaining advantage over other and capturing major shares of market. The integration of the
software accounting system would be implied for developing the improvement of the operations

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for the integration and management of operations. The analysis of the successive development of
the operations would be helpful for developing the priorities and critical evaluation of the
improved processes (Ramasubbu and Kemerer 2014). The five accounting software package
description is given below,
Xero: The accounting software package Xero is implied for the development of the
effective online accounting software package and massive supplementary for the development of
the effective and improved accounting operations (Xero Accounting Software 2017). The Xero
accounting software was developed for forming the support of business activities and not for the
accountants. However, the system has been modified to be used by the accountants due to
development of the massive ecosystems. Xero can be used simultaneously for entering invoices
and reconcile statements along with easy and surely accessing the development of the effective
probability. The deployment of the improved services would be deployed for the modelling of
the operations and formation of the processes. The Xero accounting software is developed for the
integration of the operations and development of the effective transactions (Eu-
ahsunthornwattana, Howey and Cordell 2014). The management of the effective processes for
the management of the profound development and integration of the functions with the help of
development processes.

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Figure 1: User Interface of Xero
(Source: Xero Accounting Software 2017)
Myob: The MYOB accounting software was formed for the default accounting system
development option for the users that require accounting software package (Myob.com 2017).
The company has been enjoying great global reputation since the start. The system has been
developed into attractive and effective user friendly system developer. The dashboards of the
MYOB provide the data and information in plain English terms such as money in or out. The
creation of the accountants, bill payments, and other actions are rarely deployed for the
development of the improved operations. The invoice creation would be developed for
integrating the formation of the effective system integration. The deployment of the operations
would be helpful in forming the benefit of the shortcut buttons and ease of dashboard access. The

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essentials can store the scanned documents and provide ease of the linking of the document using
inbuilt functions (Kellner and Swihart 2014). There are plenty of scope for storing the
application data in form of the reports and other documents.
Figure 2: User Interface of MYOB
(Source: Myob.com. 2017)
Intuit: Intuit QuickBooks is a veteran in the field of the accounting software packages and
it has attractive dashboards that provide key data storage along with expenses, profit and loss
(Intuit.com.au 2017). The creation of the accounts consists of a verification process that enables
the verification of the application via the help of passcode in the phone. The email verification is
not trusted for this process. The software also provide option for integrating the data via excel,
reckon, or MYOB. The guided process helps in customizing the invoices, carrying out the start
up activities, and connection with the accountants. The Intuit offers a well defined deployment of

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the operations and employment of the effective processes and development. Intuit online is an
accounting software package that excels in reporting, features, and functions (Gomez-Gutierrez
et al. 2015). The accounting software package hides the complex software functions and allows
the user to see the profitability by location, service, product line, and job.
Figure 3: User Interface of Intuit
(Source: Intuit.com.au. 2017)
Reckon: Reckon is a cloud accounting software that develops the operation for the
various organizations and companies (Reckon Australia 2017). The user interface of the Reckon
is attractive and easy in forming the use of the dashboards for connecting the operations of the
organization with the improved service delivery. The alignment of the operations would be
helpful in considering the deployment of the profound development and functional improvement
for the accounting information transaction. The Reckon provides a great deal of the cloud

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accounting software package for the users. The successful linking of the account would provide
option for seeing bank balances and also assist in tracking the amount (Pham, Malik and Foster
2014). The accounting software price is affordable and it can be used for small business
organizations.
Figure 4: User Interface of Reckon
(Source: Reckon Australia 2017)
Saasu: Saasu has been launched with the main dashboards for providing summary of the
profit and loss, balance sheet, and cash flow system (Saasu Online Accounting 2017). The
outstanding dues and other factors are helpful for overcoming the deployment of the effective
system for online accounting information management. The users can add or remove
components of the software as per their preferences. The alignment of the payments and
outstanding invoices would be helpful for forming the deployment of the improved

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summarization. The accounting software provides the development of the effective operations
such as outstanding invoices, bills overdue and other information (Witherspoon and Stone 2013).
The sales screen and add button at the top would provide option for the development of the
operations.
Figure 5: User Interface of Saasu
(Source: Saasu Online Accounting 2017)
Name of
Accounting
Software
Functionality Mobile App and add-
ons
Value for business
Xero Xero have been developed
by keeping in mind the
Xero Mobile app has
been developed for
Xero is the most
expensive accounting

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usage of the experienced
users and professionals.
The development of the
operations would be
formed for dealing with
experienced users and
improved performance.
providing the facility of
invoice creation,
receipts, files
uploading, and
management of the
contacts. Xero has over
400 add-ons
software package
available in the market
(Lim 2013). Though it
provides a great deal of
functions, the price is not
justified for medium
enterprises.
MYOB MYOB essentials have
developed the incremental
development of the design
integration. The analysis
of the effective reporting
system and functions has
been effectively implied
in the software
development process.
MYOB has the simplest
mobile app with only
three functions. The
functions of MYOB
mobile apps are
contacts, invoicing, and
payments. However, the
MYOB has over 200
approved add-ons and
almost 22 certified add-
ons.
MYOB is comparatively
cheaper than Xero and
cost a bit more than Intuit
(Lester 2015). However,
comparing the functions
and prices of the
accounting software
package, the software is
worst investment for any
business organization.
Intuit Intuit online is an
accounting software
package that excels in
reporting, features, and
functions. The accounting
Intuit offers a well
defined deployment of
the operations and
employment of the
effective processes and
Intuit Quickbook is very
cheap and suitable for
small to small medium
enterprises (Salome and
Chukwunwendu 2014).

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software package hides
the complex software
functions and allows the
user to see the profitability
by location, service,
product line, and job.
development
(Witherspoon and Stone
2013). The tablet
version of the mobile
app also has location
based invoices pre-
filling and GPS
function. Intuit has 138
app store add-ons.
The evaluation of the cost
expense on the software
package with the
functionalities it provides,
it is the most suitable
software package to be
used.
Reckon Reckon provides a great
deal of the cloud
accounting software
package for the users. The
software has good user
interface and it also
provides easy dashboards
for users to form the
development of the
operations (Mizuno and
Odake 2015). The
software provides ease of
invoicing, payment
receipts, account balance
Reckon also provides
mobile app named
Reckon 1 and number
of add-ons. The
successful linking of the
account would provide
option for seeing bank
balances and also assist
in tracking the amount.
The price of Reckon is
competitive and its core
module price about $37
per month. The
accounting software price
is affordable and it can be
used for small business
organizations.