In recent years, we have seen a massive shift, especially in New South Wales, with most small businesses and sole tradies shifting from MYOB to Xero.
Tradies know it well that bookkeeping and accounting are the 2 most cumbersome aspects of running a business for which a helpful hand from an expert could mean a lot. It is essential for them to maintain bookkeeping and accounting to keep an accurate record of their finances and abide by the law.
It is with Xero where the tradies have found that helping hand or services they are looking for. It seems like the debate of MYOB vs Xero 2020 has turned in the favour of the latter.
Let’s take a look at the reasons for this shift from MYOB to Xero and what the migration means to tradies and small business owners.
Why are tradies shifting from MYOB to Xero?
The basic idea is to make the process as easy as possible!
Most tradies and small business owners are now moving their accounts online with the help of technology. They have realised that sooner or later all tradies would be needed to keep digital recordings of their accounts and Xero offers them the perfect facilities to do just this.
Xero allows tradies to take advantage of the cloud-based platforms that offer much better facilities and features that they wouldn’t get from the traditional ways of accounting and bookkeeping in an easy to use program. Xero has advanced in a such a way that allows users to manage accounting functions for their business all from their own living room.
This is the reason why Xero has risen quickly to become one of the most sought-after accountancy platforms for businesses in New South Wales.
Xero offers an advanced yet user-friendly accountancy software that has been specifically designed to help you manage your business accounts, record expenses, process invoices, and keep track of bills on a day-to-day basis.
The software is aimed at making accounting easier and less time-consuming for you. It offers features that allow you to keep real-time tracking of your accounts and cash-flow. Additionally, Xero has a provision wherein you can share the data with your accountant so that they can keep your finances in check for you.
Some of the features of Xero most tradies have appreciated include:
- Bank account integration
- Estimate creation
- Cash flow reports
- Expense tracking
- Invoices and bills tracking
- Budget creation
- Inventory tracking
- Payroll settings
What does it mean to tradies to shift from MYOB to Xero?
MYOB vs Xero 2020 is the latest buzzword in biz-circles these days. The simple and easy-to-use accounting platform provided by Xero and the accuracy it offers in bookkeeping have made it popular among tradies and small business owners.
Why shift from MYOB to Xero?
Comparisons of MYOB vs Xero have revealed how the latter can provide better ease in doing business by automating accounting and bookkeeping. Xero provides in-depth financial reporting with some of these reports being updated instantly once the transactions are received.
Xero integrates the benefits from multiple apps that would help you save your time and efforts. It will allow you to focus your creative mind on strategically important business processes including innovation, production, and marketing, which as a sole owner tradie or small business should be more of your business focus.
All this information is not to say that MYOB isn’t a hardworking platform in its own right. MYOB offers the same cloud-based software as Xero, however, is more catered to larger scale businesses with advanced accounting functions, inventory management, manufacturing and advanced payroll functionality. The simplicity of Xero is better suited to the needs of the sole tradie or small business owner.
MYOB to Xero conversion checklist
If you want to switch from MYOB to an easier way of accounting and bookkeeping through Xero, you just need to bring over your data straight into the Xero platform to hit the ground running.
Xero has partnered with Jet Convert having over 5 years of experience. It offers secure, accurate, and high-quality data migrations.
Conversion from MYOB to Xero is a simple process. Here’s a MYOB to Xero conversion checklist that will come in handy for you to kickstart the process:
- Prepare your existing data using the MYOB file checklist.
- Upload the prepared data file to the Jet Convert upload page. Using jet convert MYOB to Xero Australia will help you migrate your accounting data seamlessly and with unbelievable ease.
- Within a few days, you will receive your data converted into your Xero account.
Need help changing from MYOB to Xero?
If you need help setting up your account with Xero and migrating from MYOB, get in touch with the team at Leveon. We are experts in strategic business management and accounting. We can assist in providing you with advice and understanding to help your trade business run smoothly. Contact us today.