Two questions

[Dardee]

A few things.

- Will you be sending out invoices? If no, then Xero is $25/month. If you do need to send out invoices then it is $49/month.
- Do you have staff to pay? If no, then no other fees. If yes, a payroll application will be required like Paycycle. Price depends upon number of staff.
- In comparison MYOB will be approx $600-$700 for the latest version, more if you need payroll. On top of that will be support (if you want it) for help and upgrades to the software (essential if you have payroll to get the revised tax tables each year).

It will all depend upon what your actual requirements are. Best to give me a call about it when you have all the info.

[Burgo]

There is deffinately no payroll. I will need to print off invoivce then send a different batch out every three months.

[Dardee]

Ok. So you will need the $49 subscription from Xero if you went down that path. The major advantage will be that anyone with access could raise invoices and mark off payments etc if required. Rather than it be locked to one computer. This gives a lot more visibility to the figures for board members if they so wish. For something like this for a small monthly fee we could take care of it all for you.

[Burgo]

Will give you a call towards the end of September then I may know a bit more than I do now

[BusiMum]

I only use MYOB because of the Inventory component for my Pty Ltd business. It is still fiddly. I hate double entry book-keeping! I love the basic Cashflow manager I use for Samurai Office Services. Chalk and cheese.

[Salmin]

1. Yes, a Pty Ltd can be not for profit organisation. It is the nature of the activities rather than the legal structure that is more important.

2. I'm an accountant (worked in Insolvency, FMCG, Govt and Advisory) and I've used everything from Oracle to SAP to MYOB and Xero.
MYOB is a great bit of software if you're looking for transferability but I find the major downfall is in the updates, confirmations and verifying data.
Xero reminds me of an iPod. Very simple, you're even connected to your bank feed. There's a lot of online help and they've gone out of their way to make sure you have a good experience.

Would I recommend either of them? I'd recommend both.
Xero for small businesses who do a lot of cash sales and need to keep an eye on the bank balance.
MYOB for large ones who can afford a capable bookeeper (a lacklustre bookeeper in MYOB is a tragedy, almost from day one).

What do I use for my side business?
MS Excel (2007). For once a month bookeeping there is no need for specialised software.

[Burgo]

I have now had a look at most of what I am supposed to be doing.
Invoices about 5 per month and a speadsheet will probably do what is required
All i seem to be doing is chashing members for their money, strange seem to be doing the same with the association.

[Dardee]

Burgo.

I can guarantee you that you will spend less time using Xero than you would any other way.

Give me a call and we'll sort something out.

[Burgo]

Thanks Darren. I am still waiting on some information to arrive from the UK, should have been here a week ago. Bet they sent it by row boat