Xero enables business owners and their advisors to access and manage real time financial data anywhere, anytime, and on any device. It is designed for small business owners and helps them track and manage wages, revenues, receivables, payables, expenditures, and cash flow. You can also configure rules and customize them to fit your needs.
The solution offers connections with more than 5,000 banks and other financial institutions across the world. This feature allows users to automatically import and categorize their latest PayPal, credit card, and banking transactions. Another useful feature is Xero automatically reconciles all your bank transactions, which make it easy for you to manage and control your finances. Other helpful features are real time currency exchange updates, multiple currencies, multiple languages, and custom invoices.
QuickBooks are available in several different editions. QuickBooks caters to the accounting needs of any company. Being a worthwhile Xero alternative it offers a vast array of insights and organizational capabilities which will help companies keep accounting data organized, including their overdue items, payable bills, accounting notes, and contacts’ data, and standard accounting operations.
QuickBooks Enterprise is designed to suit experienced users and offers several advanced accounting modules including employee management, payroll, purchasing, sales, inventory, and reporting.
MYOB is an Australian tax and accounting software company, providing a range of products for both small and big businesses as browser based, cloud based, or physical installation-based software.
According to MYOB, about 2 in 3 Australian businesses use accounting software, and around 60% of those use MYOB. Further, about 60% of accountants use MYOB as their main tool for assisting clients.
- Works online
- Calculate & track GST
- Manage quotes, invoices, and statements
- Accept payment from invoices (via Pay Direct Online)
- Sell items, services, or both
- Track and pay expenses
- Manage customers and suppliers
- Bank feeds (syncs with your bank accounts and credit card)
- ATO Super Stream compliance
- Payroll with automatic leave calculation and real-life timesheets access for employees
- Inventory management
SAGE is a cloud-based accounting and invoice management solution for small businesses. It offers core accounting, project accounting, expense management and compliance management within a suite.
The product also includes payment services, which allows users to make payments directly using Sage accounts. Users can also make payments using their PayPal accounts
RECKON is an Australian software company that provides desktop and cloud-based accounting software for accountants, bookkeepers, small to medium businesses, and personal users. The company has offices in Australia, New Zealand, the United Kingdom, and the United States. Reckon is listed on the Australian Securities Exchange. Reckon has over 600,000 businesses using its software across Australia and New Zealand.