Review of Cloud Accounting Software: Quickbooks On-line vs MYOB Live Accounts
With the help of the Internet you can be anywhere in the world and remain connected. It also allows you to work at any timezone without losing an ounce of productivity. You can even assign a virtual bookkeeper or an online accounting company to do the work for you. You can see this workplace revolution in the cloud based accounting software.
Two of the most used accounting software in the market today come from Quickbooks and MYOB. These two programs dominate the market share and they are now branching out to cloud based software that people can access securely across the web.
Let’s start with Quickbooks on-line. This online accounting portal offers the same features that are available on the desktop version installed on the computer. If you are like the majority of computer users, you should be able to easily use it using the latest version of Internet Explorer. 
Quickbooks Online recieves many praises for its ease of use because you get the same features you have in the standard package. More importantly, with the online version, you can access it from anywhere using a browser. If a client wants access to an invoice, all you need to do is login and access it remotely through your laptop. Furthermore, with Quickbooks hosted you will not lose your data when you lose Internet access.
However, the benefits end there. Quickbooks is a smart computer program but it may be a little too smart. It locks similar transactions together. So, if you send money to your business as a loan it locks it in and it can get a little confusing. You can however, change the setting but if your funds are coming in from different sources the system will not allow you to select customer, only online accounts.
Many reviews of its technical service do not bode well for Quickbooks either. A quick search of user reviews show that many customers have concerns about the availabilty of their support team. You also have to pay for Quickbooks support for concerns other than the problems related to installation or error massages.
Now, onto MYOB Live accounts. Majority of business owners use MYOB for their businesses and they can now use the cloud version and access vital information away from the office. Some of its strengths is that the MYOB live accounts is that it has a strong support team backing it and it comes with your subscription.
Some of the features of MYOB is unavailable in the cloud version. It lacks some of the cash reporting options. It also lacks inventory management, supports for other credit terms, and job costing. It also has no capability to export to excel.
If you like the basic functions of MYOB over Quickbooks you should try out MYOB live. Its support is included in the subscription and it is slightly cheaper than the Quickbooks version.
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