What Accounting Software Should I Choose

Accounting Software Question

One of the most important decisions you’ll make for your business is which accounting software you’ll use. So, it can be very confusing, stressful and difficult as a small business owner trying to sort out all the different choices for accounting software these days. Between popular commercial programs, subscription based online offerings, and industry specific specialized software, the choice can quickly become overwhelming.

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MYOB vs Quickbooks vs Xero vs Saasu Accounting Software Comparison Part 6









































When it comes to inventory functionality not all of the accounting software products are offering it.

Building Inventory Items

Xero has no built-in inventory system, but as an alternative, users can access Unleashed Software for inventory functionality at an additional costs.

Inventory items are easily built and can be edited at any point in time.

Saasu allows for easy creation of inventory items. It also allows for import of inventory items from other programs.

QuickBooks enables users to build detailed inventory items.

Combining Inventory items

Xero has no built-in inventory system, but as an alternative, users can access 3rd party add-ons which fully integrate with Xero at additional costs.

MYOB’s combined inventory items remove unnecessary items listed in your inventory. But users can also use a number of inventory items to build other inventory items as used in manufacturing.

Saasu’s inventory function allows for the building of new items from a number of existing inventory items in Saasu.

Quickbooks allows the building of inventory items from existing inventory and easy combining inventory for duplicates. Quickbooks online does not possess a comprehensive inventory function.

Changing Inventory Levels

Xero has no built-in inventory system, but as an alternative, users can access 3rd party add-ons which fully integrate with Xero at additional costs.

MYOB can easily adjust or write off inventory via an inventory journal entry.

Saasu easily allows for the change in inventory levels via the add inventory adjustment function.

Users can make adjustments in inventory levels with the adjust quantity/value on hand inventory function in Quickbooks.

Managing Inventory

Xero has no built-in inventory system, but as an alternative, users can access 3rd party add-ons which fully integrate with Xero at additional costs.

Overall MYOB has a great ability to manage a business’s inventory function with vast functionality.

Saasu has adequate functionality to process and manage business inventory whilst trying to maintain user simplicity.

Quickbooks overall possesses strong inventory management features which allow for end to end use of inventory.

Multi-Warehouse Locations

Xero has no built-in inventory system, but as an alternative, users can access 3rd party add-ons which fully integrate with Xero at additional costs.

MYOB allows for multi-warehouse inventory management.

Saasu allows for management of inventory in different warehouses.  

QuickBooks provides multi-warehouse inventory function for better management of inventory.

Inventory Reports

Xero has no built-in inventory system, but as an alternative, users can access 3rd party add-ons which fully integrate with Xero at additional costs.

MYOB once again possesses some of the best reporting capabilities in the market today with a good variety and vast customisability.

Saasu has limited reporting capabilities with 4 inventory reports to choose from.

Quickbooks possesses a wide variety of inventory reports which offer advanced customisability functionality.


Xero is continuing to come out with new reports regularly but still lags behind MYOB and Quickbooks in its reporting capabilities.

MYOB offers a large variety of reports. If a user regularly accesses a customised report, this report can be saved for quick access.

Saasu is continuing to develop its reporting offering. Saasu also lags behind MYOB and Quickbooks in reporting variety.

The variety of the financial reports in QuickBooks is excellent. Quickbooks online also offer a wide variety of reports.







Financial Reports


Xero’s reports are not highly customisable aside from its ability to change the date parameters.

MYOB offers a high degree of customizability for the majority of its reports.

Saasu’s reports are not highly customisable except for its ability to report for a given period of time.

The majority of QuickBooks reports have a high degree of customisability.

Appearance and Graphs

Xero does not offer graphical displays but its reports are formatted well for viewing pleasure and easy to read.

MYOB does not offer graphs but its reporting formats are easy to read and the appearance of the reports to print or email can be changed.

Saasu does not offer a graphical display. Its reporting format is well placed for easy reader viewing.

QuickBooks provides graphical displays in various reports for visual effect. Quickbooks reports are well formatted making it easy for viewing.













Well that’s the end of our accounting software comparison. I hope this has been helpful and I would like to hear your feedback on what your thoughts are o our comprehensive comparison and which accounting software you prefer.

MYOB vs Quickbooks vs Xero vs Saasu Accounting Software Comparison Part 5











































Accounts Payable



Purchase Orders

Xero does not have a function for raising purchase orders.

The purchase order feature of MYOB allows you to create a purchase order in the same format as a bill. This is easily convertible from a purchase order to a bill at the click of a button.

Saasu has a purchase order function which is also easily convertible into a bill at the click of a button.

QuickBooks and Quickbooks Online allow users to create purchase orders and convert these easily into bills where required.


Bills are easy to enter and users can choose some fields to enter nothing if not required. The interactive graph of Xero showing off your accounts payable is also designed to help you make a decision on the bills you have to pay and the time they should be paid.

Entering bills in MYOB is simple. Users can change the layout of a bill to suit their business. It’s purchases register allows you to view all bills outstanding from any or specific suppliers within a time frame the user specifies.

Saasu has a bills feature which allows you to enter fields as you require, some are compulsory. Saasu’s purchases screen is customisable allowing users to access bill information easily.

Quickbooks Online does not have an inventory function, which makes purchases easy to enter. Quickbooks or Accounts does have an inventory function for purchases which allows users to skip over some fields as required.

Export Bank Files

Xero allows for bank file export so to reduce time in paying your bills.

MYOB also allows for the creation of aba files to facilitate bilk payments.

Saasu allows for the creation of bank files also so to execute multiple payments at once.

Quickbooks also allows creation of aba files for multiple payments to be made at once. Quickbooks Online does not currently have this feature.

Remittance Advices

Xero has no remittance advice feature.

MYOB offers a remittance advice feature which is highly customisable and can be emailed direct to the supplier.

Saasu uses a report which is called a contact statement which acts as a remittance advice.

QuickBooks provides a remittance advice which can be emailed and customised. Quickbooks online has a report called supplier balance detail which can act as a remittance advice.

Creditor Management Reports

Xero has a standard aged payables report. Xero also has the purchases screen which is customisable and exportable to pdf and excel which may also suit a user’s requirements.

MYOB has an aged payables report which is very comprehensive and customisable. Users can also add credit terms for each supplier so you can use the report to see what needs to be paid each week.

Saasu has a standard aged payables report which is able to be exported, printed or emailed.

Quickbooks and Quickbooks Online both possess a strong range of reports including the aged payables report to managed supplier payments.

New Employee

Xero lets you create new employees easily with only standard functionality and record keeping.

MYOB allows users to add new employees and use MYOB as a database for employees as the information users can record is very comprehensive.

Saasu has a good payroll function which allows users to create employees easily.

Quickbooks allow users to create new employees easily and also provides a comprehensive list of attributes so to act as a database. Quickbooks Online does not offer a functional payroll system at this point in time.





Payroll Cycle

Once a user has created the pay cycle Xero will preempt pay weeks and pay dates according to what the user has entered. If a user wishes to change the payroll cycle they will need to create a whole new payroll cycle in Xero.

MYOB’s payroll cycles are fully customisable to suit the payment periods and payment dates the user requires.


Payroll cycles in Saasu are fully customisable to suit the users requirements for pay date and work week.

The Quickbooks Payroll function allows for users to adjust payment dates and work weeks as required.

Track Leave Entitlements

Xero allows users to track the leave entitlements of your employees. For employees to take leave a leave form must be created in Xero. Xero also offers the option to invite employees into the Xero file to create leave forms themselves.

MYOB has a great payroll function which allows for the tracking and easy reporting for employee entitlements,

Saasu allows users to track accrued leave owed to employees without a hassle.

QuickBooks offers a very comprehensive payroll function which allows users to easily track employee entitlements.


Xero offers the ability to create timesheets and record these in Xero. Users can use this function to comply with rules for payroll records to be kept.

Timesheets can be created in MYOB and the data used through its comprehensive reporting ability to create quality management reports.

Saasu offers the ability to create timesheets. Users could also export the information from Saasu into a 3rd party program to develop reports.

Timesheets are easy to execute via Quickbooks. Quickbooks online does not offer an end to end payroll solution.

Edit Pay Run

Xero pay runs are fairly easy to edit if the user is required to change the pay run after posting and even allocating payments to it.

Once a user has finalized a pay run in MYOB it cannot be changed.

Saasu will allow users to edit the pay run even after it has been recorded.

Quickbooks does not allow a user to edit a pay run once it has been recorded.

Export Bank Files

Yes, users can export bank files from Xero to execute bulk pay runs.

Yes, users can export bank files from MYOB to execute bulk pay runs.

Yes, users can export bank files from Saasu to execute bulk pay runs.

Yes, usres can export bank files from Quickbooks to execute bulk pay runs.

Pay Slips

Xero allows users to place the company logo on the pay slip template. Xero also allows users to choose some fields which a user may not want to appear on the pay slip.

MYOB’s pay slip is once again fully customisable allowing users to change the appearance.

Saasu will allow some customisability. Saasu allows users to email pay slips for ease of use.

Quickbooks allows a high level of customisability of pay slips. Quickbooks enables mass emailing of pay slips.

Payroll Reports

Xero offers a number of different reports to access payroll details stored in Xero. These reports do not offer great customisability though.

MYOB has a large array of payroll reports which are highly customisable allowing users to display data that is important to them.

Saasu has only a limited number of payroll reports which offer a small amount of customizability.

Quickbooks possesses a good number of payroll reports which offer a great level of customisability.

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

























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


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.


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.

MYOB vs Quickbooks vs Xero vs Saasu Accounting Software Comparison Part 3
































Multi –currency tracking is available in Xero’s top end subscription option for $64 per month.

MYOB allows you to handle different currencies in your account through its multi-currency feature in AccountRight Premier and upwards for PC and AccountEdge Pro for Mac.

Saasu offers a multi- currency feature for its medium $35 subscription and upwards.

The multi-currency feature is not available for Quickbooks Online but is available for Quickbooks (Accounts) Premier and Enterprise versions.

Automated Bank Feeds

Xero has an automatic bank feed that can be set up depending upon which bank you use. This in conjunctin with its smart pre-matching ability speeds up the data entry of your bookkeeping.

MYOB has changes its array of products so the majority of MYOB’s products can automatically download bank data from over 100 institutions. MYOB also applies a smart match function which automatically allocates payments and receipts as they are imported.

Saasu also has a bank feed function which will suggest which payments or receipts to allocate to the appropriate invoice or bill.

QuickBooks Online possesses the bank feed function and also tries to categorise the transactions for you. The number of banks which are available to offer automatic bank feeds are limited.

Import Bank Statements

Manually imported bank statements are available for Xero.

MYOB allows you to import your bank transactions through Live Accounts and AccountRight range of products.

Saasu also allows you to import bank statement manually.

Bank transactions can be manually imported through Quickbooks online using a QIF file.

Bank Feed Rules

Xero allows you to write custom rules which hasten your bank reconciliation process by offering an auto match function for those transactions which conform to your rules for easy approval.

MYOB also possess a bank rules function which is accessible through its Banking button.

Saasu provides a bank rule function which allows users to hasten the bank reconciliation process.

QuickBooks’ bank feed rules help to automate your data entry as much as possible by auto allocating transactions where specified.

Auto match transactions

Xero has the capability to automatically match transactions in Xero along the bank statement lines based on previous actions performed by the user.

MYOB has a very thorough auto match bank reconciliation function which aggressively attempts to auto match your transactions.

Saasu’s auto matching function is not as intuitive as the other software options but still has some capability.

QuickBooks Online attempts to use auto matching of your old transactions patterns and applies them to new transaction as they are downloaded into the bank account.

Contact Creation

Contact creation is very simple in Xero as it simply remembers the contact you type in when creating any sort of transaction. Contacts allow you to store relevant contact information to be stored for you to access at a later date.

Using MYOB you can create new contacts using create new or Easy add when executing a transaction. Contacts can once again store relevant information to the contact to be accessed later.

Contact creation is simple in Saasu as well as you can create a new contact and add as little or as much information as you want using the add contact function.

Quickbooks contact creation works much the same as the other software options allowing you to store assorted information such as email, address, phone, bank account and notes as you see fit.

Transaction Description

Xero provides a field which allows you to wrote a custom note for a transaction if you wish.

MYOB Allows you to write a detailed note regarding a transaction where you see fit in 2 separate memo locations.

Saasu is somewhat limited in its option to provide notes outside of the sale/purchase and journal situations.

Quickbboks Online uses the same type layout as traditional Quickbooks versions such as memo and description at adequately identify each transaction.

Bank Reconciliation

Xero does not have the traditional bank reconciliation button that other accounting software have but does display an individual balance for Xero and the bank as per statements which have been imported or auto fed to determine whether the account is reconciled.

MYOB Live Accounts eliminates the need for the manual bank reconciliation. All other MYOB versions require that you conduct your regular bank reconciliation as per prior versions.

Saasu will display what your bank balance is on your dashboard but still does have a reconcile button for you to execute routine bank reconciliations.

Quickbooks as well as Quickbooks online uses the manual bank reconciliation button function to ensure your bank accounts are reconciled.