When it comes to online bookkeeping software, there are plenty of programs to choose from. But before you make an investment, it’s important to consider which software will work best for your business, allowing you to manage your finances most efficiently.
In our experience, Quickbooks has proven to be the most user-friendly and effective product. Their online software is an exact replica of the current desktop software, and is accessed through terminal services, which means there is no re-learning involved, so you can enter data quickly and efficiently. Quickbooks online also features advanced customization of reports and some other improved functions, such as the ‘Find’ feature.
In comparison, MYOB Live Accounts offers very basic functions, and is often quite slow and cumbersome to use. There is no payroll, and no quick shortcuts, which means that data entry time is more than tripled compared to using Quickbooks.
Xero and Saasu are both fairly user-friendly. However, they do have some limitations that can slow you down and restrict your reporting. Because they are purely online-based software, there is no ability to have multiple screens open at the same time, which means switching between reports and data entry can be time-consuming. Their reporting is also much more restrictive than Quickbooks, and data entry time is around doubled.
Overall, Quickbooks is your best option for quick and efficient data entry. The only downside to Quickbooks online is that it does not offer the Online Banking feature that is found in the desktop software. However, this is not available in any other online bookkeeping software either.