Comparison of Accounting Software Packages

Question:

You are asked to recommend one Accounting Software Package suited to the Company Business Applications. Write a report, to Compare Five Accounting Software Packages in the Market.

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.

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 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.

Xero

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 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 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 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.

Myob

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 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 usage of the experienced users and professionals. The development of the operations would be formed for dealing with experienced users and improved performance.	Xero Mobile app has been developed for providing the facility of invoice creation, receipts, files uploading, and management of the contacts.  Xero has over 400 add-ons	Xero is the most expensive accounting 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 software package hides the complex software functions and allows the user to see the profitability by location, service, product line, and job.	Intuit offers a well defined deployment of the operations and employment of the effective processes and 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.	Intuit Quickbook is very cheap and suitable for small to small medium enterprises (Salome and Chukwunwendu 2014). 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 tracking, and outstanding payment receipt.	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.
Saasu	Saasu has a dashboard that provides the summary of the cash flow, profit and loss, and balance sheet. The accounting software provides the development of the effective operations such as outstanding invoices, bills overdue, and other information.	Saasu has been supporting payroll, inventory management, and bank feeds with the help of its mobile application. The sales screen and add button at the top would provide option for the development of the operations.	Saasu provides the services at $15 per month the users would get 1000 transactions without inventory management and at $180 per month the users would get 100,000 transactions, 20 bank feeds, and 100 employees.

The Intuit QuickBooks is the best option for being used for the newly formed export trading company and it would provide value for the development of the business operations (Mizuno and Odake 2015). The Intuit QuickBooks are most effective for managing small medium enterprises and it forms the alignment of the improved processing of the system development.

Intuit QuickBooks can provide the following benefits to the newly formed export trading organization,

Effective UI style: The effective user interface is formed for the deployment of the operations for involving the development of the profound development (Eu-ahsunthornwattana, Howey and Cordell 2014). The UI style of Intuit would be developed for the integration of the developed services. The dashboards of the Intuit would be helpful for excelling in reporting, features, and functions and allows the user to see the profitability by location, service, product line, and job.

Improved Functions: The Intuit QuickBooks would be helpful for calculating all payroll requirements along with tracking stock, orders, work in progress, jobs, and other tasks. The Intuit QuickBooks would be helpful for developing the improved services for handling the multiple bank accounts (Witherspoon and Stone 2013). The formation of the operations would be implied for the deployment of the operations and carrying out the integration of the system analysis.

Security and Safety: The security and safety of the deployment of the accounting software packages would be formed for ensuring that the information process. The development of the improved processing would be implied for the overcoming the development of the effective processing. The system tracking and development would help the insurance of the operations.

Intuit

Conclusion

It can be concluded form the assignment that the five Xero, Myob, Intuit, Reckon, and Saasu are the five accounting software packages that has been used prominently all over the world. These accounting software packages have exploited and used most of the improved technologies for gaining advantage over other and capturing major shares of market. The accounting software package Xero was implied for the development of the effective online accounting software package and massive supplementary for the development of the effective and improved accounting operations. The MYOB accounting software was formed for the default accounting system development option for the users that require accounting software package. Intuit QuickBooks was 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. Reckon was a cloud accounting software that develops the operation for the various organizations and companies. Saasu had been launched with the main dashboards for providing summary of the profit and loss, balance sheet, and cash flow system.. The Intuit QuickBooks were most effective for managing small medium enterprises and it forms the alignment of the improved processing of the system development. The Intuit QuickBooks provide Effective UI style, Improved Functions, and Security and Safety for the newly formed export trading organization.

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