Accounting software comes under Accounting Information Systems (AIS) and refers to computer programs that enable accountants to do their operations in a more efficient and effective way (Turner & Weickgenannt, 2013). They are a fruit of technological advancements and come with various functions that help in processing transactions such as trial balance and payroll. Presently, there are many accounting softwares coming with different capabilities. Some softwares helps at managerial levels in decision making and other related analytical functions. In Australia, most accountants and specialists in the accounting field have benefited a lot from the merits that come with the softwares. Most widely used accounting softwares in Australia are the MYOB, QuickBooks, Reckon, Saasu and the Xero (Qu & Yang, 2012). Choice of the softwares to use is often a challenge. However, analyzing the flexibility and functionality friendliness of each softwares helps in making a decision which software to use. The present paper discusses various accounting softwares used in Australia covering their history, development, adoption, market size, leaders in the market and challenges faced by their users among other relevant information about these softwares. The discussion is based on research from various materials such as journals, magazines, newspapers, books and trusted websites. Therefore the information is reliable and accurate.
Table of Contents
- Accounting Softwares in Australia
- QuickBooks
- MYOB (Mind Your Own Business)
- Xero
- Recon
- Saasu
- Other Accounting Softwares
- Conclusion
Objectives and Key Themes
This paper provides an overview of the accounting software market in Australia, focusing on the history, development, adoption, market size, leading players, and challenges faced by users. The discussion is based on research from various sources, including journals, magazines, newspapers, books, and trusted websites, ensuring the information is reliable and accurate.
- History and Development of Accounting Software in Australia
- Market Adoption and Popularity of Different Software Packages
- Key Features and Competitive Advantages of Leading Accounting Software
- Challenges Faced by Users of Different Software Packages
- Recommendations for Improving the Functionality and User Experience of Accounting Software
Chapter Summaries
The paper examines the five most popular accounting software solutions in Australia: QuickBooks, MYOB, Xero, Recon, and Saasu. Each software is discussed in detail, including its origin, development, key features, competitive advantages, and challenges faced by users.
The QuickBooks software is widely used in Australia and offers a range of features for managing business operations, but its user interface can be challenging for beginners. MYOB, another popular choice, features automatic bank feeds and sophisticated error detection systems but can be expensive. Xero, a cloud-based solution with excellent customer service and a user-friendly interface, faces challenges with its mobile app and limited features. Recon, a cloud-based accounting software with low pricing, offers a Recon Pay interface for mobile payments, but lacks real-time tracking of business operations.
Saasu, the last software discussed, is known for its early adoption of cloud-based accounting solutions and its focus on the Australian market. The software allows for customized invoices and automated payment reminders but has fewer features compared to other competitors.
Keywords
The paper focuses on key topics such as accounting software, accounting information systems, cloud computing, market adoption, competitive advantages, user challenges, and recommendations for improvement. The paper also highlights specific software solutions like QuickBooks, MYOB, Xero, Recon, and Saasu, as well as their key features and functionalities.
Frequently Asked Questions
Which are the most popular accounting software packages in Australia?
The most widely used solutions are MYOB, QuickBooks, Xero, Reckon, and Saasu.
What are the advantages of using Xero?
Xero is a cloud-based solution known for its user-friendly interface, excellent customer service, and strong integration capabilities, though its mobile app has some limitations.
What distinguishes MYOB from its competitors?
MYOB (Mind Your Own Business) offers sophisticated error detection and automatic bank feeds, making it powerful for complex operations, though it can be more expensive.
How does cloud computing impact accounting in Australia?
Cloud computing allows for real-time data access, automated payment reminders, and better collaboration between accountants and business owners, as seen in software like Saasu and Xero.
What are common challenges for beginners using QuickBooks?
While feature-rich, QuickBooks is often cited for having a user interface that can be challenging or overwhelming for those new to accounting software.
- Quote paper
- Prof. James Mageto (Author), 2017, Accounting Softwares in Australia. An Overview, Munich, GRIN Verlag, https://www.grin.com/document/370493
