MYOB have recently announced that as of 30th September 2019 they will no longer provide features, patches, compliance updates or product support for AccountRight Classic (sometimes known as v19) in Australia and New Zealand. This announcement also applies to all MYOB Desktop versions including MYOB Premier editions.
It was bound to happen eventually. MYOB have finally pulled up stumps on their legacy desktop software after recognising that cloud-based accounting software is the way of the future. Put simply, the Serial Number that MYOB continually ask you to verify will no longer work – forcing you to either upgrade or move to a new system.
In our mind, this is not a bad thing. Desktop systems are from a bygone era and cloud-based accounting systems introduce features that make business and software collaboration so much easier.
Consider upgrading to Xero
While MYOB AccountRight (MYOB in the cloud) is certainly an upgrade in the right direction, in our opinion this presents a perfect opportunity to changeover to Xero. Here’s a few reasons why:
Xero is generally cheaper than MYOB at most subscription levels.
Xero has an open Application Programming Interface (API). This means that software developers can create programs that integrate directly with and use the business data collected by Xero. To date, thousands of add-ons have been created worldwide adding to its flexibility and functionality. Think of Xero like your Iphone where ultimately its purpose is to make phone calls…but there is also an app for everything.
Xero is a global company that has its roots in Australia and New Zealand. So while it understands and dominates the local market, it also has an ever increasing presence in the UK and USA.
Xero has a Find and Recode function. Have you miscoded account transactions or tracking categories? This powerful tool allows users to search for and recode hundreds of transactions in seconds. In MYOB, each tranaction needs to be recoded individually.
Xero reporting is much, much more flexible than MYOB allowing users to save and customise reports that help them analyse their business number.
Xero is a single ledger system. From a bookkeeping and accounting perspective this is a big one. It allows your adviser to work on and manipulate the same transactions as you in real time. In other words, there is no need for your accountant to print out and re-enter your data in their own proprietary software just to create some financial statements and a tax return. These can be generated directly from Xero and should reduce your accounting costs provided you have a proficient bookkeeper and an accountant that uses Xero to produce these reports.
With Xero, you dont need to upgrade every 3 months to obtain the latest features. Being 100% web-based, these changes happen seamlessly in the background. Just fire up your preferred internet browser.
So take the opportunity to do Beautiful Business and talk to us about converting to Xero today.