Small Business Accounting Software – 2014 Ratings

Posted by Canstar Blue October 19th 2015

You are viewing the archived 2014 ratings for accounting software for small businesses. Go to the current accounting software ratings.

* Overall satisfaction is an individual rating and not a combined total of all ratings. Brands with equal overall satisfaction ratings are listed in alphabetical order.

Count on MYOB for small business customer satisfaction

Accounting Software - 2014 Award WinnerA majority of the small business owners or decision makers who responded to our recent survey say that accounting software is crucial to the running of their business1; and surprisingly, close to half admit they enjoy the paperwork associated with running their business.

Whether or not you ‘get a rise’ from spreadsheets and invoicing, you should be keeping an eye out for accounting software that can handle any bookkeeping required for your business. We suggest you begin that search here.

Two big accounting software brands, MYOB and Quickbooks, faced off in our latest customer satisfaction ratings. MYOB ultimately emerged as our award winner for 2014, with first-rate results in a number of areas. Let’s take a look at each brand and see where each excelled.

MYOB

Utilised by many popular Australian brands – such as Boost Juice, Salsa’s, and CIBO Espresso – MYOB is another prominent player in the accounting software space.

Supported by more than 40,000 bookkeepers, accountants, and consultants across Australia (reportedly the largest network of its kind in the country), MYOB software can work both online and offline, depending on your needs. Their software gives you control over payroll management, a CRM system, tax analysis, and more. In conjunction with its standard desktop accounting software suite, MYOB supports mobile and tablet applications to help you find key data insights whilst on the move.

With such a wide array of available features, it’s little wonder why MYOB secured five stars for both overall customer satisfaction and for its accounting software features (such as inventory tracking, POS, time tracking / billing, payroll etc.). It also received four stars for point of sale service, after sales service / warranty, and call centre service; and three stars for value for money.

QuickBooks

What does QuickBooks offer to small businesses across the country? Notably, a variety of plans for its cloud based accounting software; plans that suit many kinds of business owners. Payroll software, income and expenses tracking, automated invoicing, and more are available to anyone looking to take control of their business’ finances.

According to the results of an Intuit (the company who own QuickBooks) survey, more than a third of respondents who had used this software reported time savings of 6-10 hours per week. A further 11% quoted 10+ hours saved per week.

While we cannot personally vouch for these results, we can tell you how satisfied our survey respondents were with this software. They received four star ratings for overall customer satisfaction, value for money, call centre service, and available features; and three stars for both point of sale service and after sale service / warranty.

Tips for selecting your new accounting software

We suggest you utilise our customer satisfaction ratings when making your decision on which accounting software to buy, but also factor in the following:

Accounting Tips

  • How much does it cost to setup and run? Some businesses can afford software with plenty of bells and whistles, whereas yours might not need particularly advanced features. The old adage “measure twice, cut once” holds true here: assess your needs, and don’t over-cater.
  • Is it easy to use, or will you require time to learn the ins and outs of your new software? Small business owners are already stretched for time, and you may not have any to spare to learn how to operate complicated new software. That said, it may be worth putting aside the time to do so, provided the software is good value for money.
  • Is it compatible / will it integrate with your existing systems? Don’t make the mistake that 14% of our respondents made, who purchased software not compatible with their computer. It is pointless to invest in software that won’t compliment your existing setup (e.g. alongside POS, CRM / ERP, or even operating systems like Mac OS). Make sure you carefully consider any system requirements before choosing your software.

Canstar Blue commissioned Colmar Brunton to survey 855 small business owners and decision makers (i.e. the main decision maker for a small business) across a range of categories to measure and track customer satisfaction with products and services related to their business. The outcomes reported are the results from customers within the survey group who own and have used accounting software, and have used it for work purposes – in this case, 443 small business owners/main decision makers.

Brands must have received at least 30 responses to be included. Results are comparative and it should be noted that brands receiving three stars have still achieved a satisfaction measure of at least six out of 10. Not all brands available in the market have been compared in this survey.

1 More than four in five, according to our survey conducted in June 2014.