Xero announced the other day that the BNZ has become the latest bank to support fully automated bank reconciliations into Xero.
I probably spend about four hours a month reconciling the bank accounts on the 3 businesses I run through MYOB – that four hours could be far better spent doing something else.
Nice work Xero…. (oh and by the way – we’re not in a position to move to Xero at this point – needing as we do some functionality that Xero hasn’t built into its offering yet)
Ben, just curious what the most important features that Xero is lacking that MYOB already handles?
Inventory I’m afraid – we run a couple of hundred SKU’s that we track – also very useful (although not part of MYOB either) would be good product costing (we use OpenSource specsystem) and e-commerce (we use OpenSource virtuemart).
That said our requirements are pretty manufacturing based and, much to my chagrin, manufacturing isn’t exactly a growth industry in NZ any more..
Saasu.com the web finance engine offers inventory including assembly of inventory items if you are into that. MYOB conversion is also largely automated. A bias view… đź™‚