MYOB vs Quickbooks vs Xero vs Saasu Accounting Software Comparison Part 4

Xero

MYOB

Saasu

QuickBooks

Quotes

Xero does not have a quote feature as yet. However, alternatively you can use the draft invoice function to create a quote and amend where required.

MYOB live Accounts does not offer a quoting feature, bit the AccountRight software does offer a quoting function which can be easily converted to an invoice.

Saasu has the ability to create quotes which can be easily converted into invoices at different milestone points.

Quickbooks Online and the general Quickbooks (Accounts) range of products allow you to create quotes from the Accounts Pro software version and upwards.

Accounts Receivable

Invoices

Xero allows invoice users to create draft invoices and have the drafts approved before they are sent out to clients. Xero also creates an action log once an action has been completed so you can review who has performed different actions on a particular document to increase visibility and accountability.

MYOB has a number of different formats to choose from for which users can create an invoice. Depending upon which format you chose this information may be available on the invoice which is sent to the client.

Sales are easily recorded in Saasu. Saasu accommodates an inventory function which is comprehensive compared to other software options.

QuickBooks Online has a simple invoicing function whilst Accounts has a more comprehensive invoice function which facilitates the use of inventory.

Credit Notes

Credit notes are created as a separate document in Xero and can be applied to multiple invoices.

MYOB creates credit notes using a negative invoice amount which can then be applied to a single or multiple invoices.

Saasu has only recently added an adjustment/credit note feature.

QuickBooks Online and the Accounts range of products allow you to create a credit note and apply it to multiple invoices.

Statements

Xero allows you to print and email statements and customise the date range which you want to apply.

MYOB allows you to print and email statements and also offers a highly customizable template which means you can make your statement templates look how you want them to.  

Saasu statements are able to be printed and emailed. Forms are also somewhat customisable.

Quickbooks users are able to print and email statements at will as well as customising the date parameters.

Invoicing/ Statement Templates

Xero invoice and statement templates are not easily cutomisable. Xero allows you to download their default template in a Microsoft Word format to customise.

Invoicing/Statement Templates in MYOB are highly and easily customisable as you can add and delete content fields as you wish.  

Saasu presents the ability for users to customise invoice and statements to a small degree.

Users are able to download statement templates from the Quickbooks gallery. The statement template chosen is not highly customisable

Email Templates

Xero allows users to customize email templates for invoices, statements, remittances and credit notes which are emailed to clients.

MYOB allows users to customise email templates for different documents such as invoices, statements, remittances, purchases and pay slips.

Saasu’s email template allows you to customise communication when sending out invoices, statements, remittances and statements.

Quickbooks allows users to download templates and copy the same basic template and customise for different forms as you see fit depending upon your version of Quickbooks.

Credit terms

Xero asks for a due date whenever a user creates an invoice and creates its reports based on this date.

MYOB requires that users determine default credit terms which are displayed on invoices issued. MYOB also allows you to customise your credit terms for each client. Very useful feature.

Using Saasu a user can add credit terms via the template is saasu as custom text only.

Using Quickbooks users can customise credit trading terms for the business and for individual clients. This allows for more comprehensive reporting features.

Apply Payments to Invoices

This can be done through the reconciliation screen or manually through the sales screen. Xero makes this function very easy to execute. Don’t forget the auto match function either with the bank feed.

MYOB Live accounts will automatically try to match up payment where possible using the bank feed function. This can also be done manually in Live accounts and AccountRight products.

Saasu uses its bank feed function to try and best match payments to invoices. Saasu also allows users to allocate a payment at the same time an invoice is created.

QuickBooks attempts to suggest best matches for payments where appropriate. However you can manually apply payments in Quickbooks Online and the Accounts range of products.

Debtor Management Reports

Xero’s aged receivables report is the best way to manage overdue paying clients. Users can also use the Customer Invoice Report or the sales awaiting payment window where invoices are chronologically in order by due date.

MYOB has a great aged receivables report which is highly customisable. Users can change the specified days and using a client’s card file you can even add comments to the published report.

Saasu’s aged receivables report is customisable to suit the needs of users. It will certainly suffice to allow users to manage their incoming debts.

Quickbooks has a highly customisable report available to users in order to manage their outstanding client debts. The report is also exportable to pdf and csv or excel.