When we talk about choosing the most suitable accounting software for our business, we often go for cheap options or software that doesn’t have very much technicalities or have a simple interface. The ignorance of these simple requirements may lead to heavy consequences. You must first check the requirements of your business before going for online accounting software.
The foremost aspect that needs attention to choosing accounting software is the ‘size of the business’. if your business is big, you need software that provides a wide range of services under one roof. And if your business lies under the category of ‘medium and small enterprises’, then you must go for options that fulfill your business needs.
For ‘Medium and Small Enterprises’, the software market is not very wide. Yet, two names that need to be remembered are:
Let’s dig a little deeper about these two.
MYOB: ‘Mind Your Own Business’, popularly known as MYOB in the industry, is one of the most suitable online accounting software that provides its business services, especially to MSMEs.
MYOB is a cloud-enabled version that serves your business in the area of accounting & bookkeeping, payroll management, Customer Relationship Management(CRM), invoices and billings etc.
Saasu: Saasu, specifically designed for small enterprises. It is a management solution for your business financials.
Saasu is an online solution that helps you manages your sales and purchasing, payroll and taxes, invoices and billings and also all your online payments.
However, when it comes to which one is the better, the game gets tough. We have a dedicated comparison that will help you inspect which software your business prefer best and opt for it.
|Invoices||MYOB sends online invoices via emails and tracks and updates when and by whom they are opened or accessed. It also helps you design customised invoices. You can add your logo or special quote or designed template to make it look unique.||Saasu helps you automatically send and generate invoices both for business and the customers. It also maintains a separate list for unpaid bills. It helps you create self customised invoices that can be your company’s recognition.|
|Bank Compliance||MYOB maintains high compatibility with the banks and automatically records the transactions and payments made directly through bank in the books of account. It lets the customer pay directly through invoices with the help of visa, Mastercard or Bpay.||Saasu records and reconciles the bank feeds and processes large volume of banking data. It also keeps the invoices linked to their respective transaction.|
|Dashboard||It prepares dashboards the helps you view your performance over the years. These reports about your sales or pricing policies will help you grab suitable opportunities.||It prepares dashboards that lets you examine your sales and payments.|
|Cashflow||MYOB brings you clear view of your cashflow through various reports prepared that lets you dig deeper into your finances. It keeps detailed records of all the expenses and income incurred through your customers and suppliers.||Saasu offer you with a facility of cashflow Forecaster. It will help you track the ins and out of the cash and outlines the pattern that helps you with your transactions and set their due dates.|
|Customer Management||Record all the details like orders, contact dates, money owed or due dates under 40+ categories that makes the search for any data super smooth.||Record all the necessary details and ways of contact regarding the customers and send them their invoices and order tracking details accordingly. It also saves the attachments and documents that serves the details about the customers.|
|Payroll||MYOB automatically updates and calculates the tax annually according to the tax structure of the respective company.||Automatically calculates and updates the tax annually with no additional cost involved. Lets you process the payment in few easy steps that can be set as default for future payments too.|
|Inventory||Keep all detailed accounts of the inventory, from what is sold and what is left and what is needed to buy. Compare the cost and selling prices form different vendors, maximizing the margin of profitability.||Tracks all the purchases and supply occurred in the warehouse. Alerts when the inventory goes out of stock. Also keeps the details about the products available like expiry date, so that replacements can be made.|