Tuesday, June 27, 2017

Comparing MYOB vs Moneyworks

Compare MYOB vs MoneyWorks

Both MYOB and MoneyWorks belongs to the category of on-premise accounting solution with many similarities for sales, purchasing, operations, inventory and accounting for small businesses.

While MYOB has almost dominated the on-premise accounting software solutions among the SMEs, let us take some time to compare MYOB to MoneyWorks

You may ask why MoneyWorks? Both MYOB and MoneyWorks has great feature similarities in which both run on flat single file without database application (like SQL), and both sells in the price range of around S$1,000 for 1 user (MYOB Premier 1 User sells at S$1,297.20 and MoneyWorks GOLD sells for S$895) and less than S$3,000 for 3 users (MYOB Premier 3 User sells at S$2,119.63 and Moneyworks Datacentre sells for S$2,995). 

However, our comparison here is based on the differences between both MYOB and MoneyWorks, so we will not touch on individual functionality for now.

Here is the table of comparison of difference:

Realtime recording and editing
Post and Reverse Entry
Sharing Method
File and Folder sharing
File sharing through port (Datacentre)
Sharing Technology
Windows Workgroup Sharing
Bonjour technology
Network Type
Wired Networking only, slow on wireless (especially on bigger files)
Wired, wireless and internet capable
Workflow procedures
Workflow procedures
Forms Formatting
Form customizable with fixed data/field insertion
Form customizable with flexible data/field and formula insertion
Reports fixed and cannot be amended or customised
Reports are customizable with built-in report writer
Data Access
3 years report (Last year, this year and next year report)
7 years report and transactions
Transaction Access
Module Access for different transaction
One screen to view all transaction
Creating Transaction
New transaction through module section
All transactions can be selected within one screen
Upgrades Frequency
Upgrade almost every year
Upgrade almost every 3 years
Remote Access
Remote Access via terminal service
Direct connection
Companies Files
5 datafiles and pay extra for additional 5
Unlimited datafiles
Mac OR Windows only (via different version)
Both Window/Mac cross platform

We will not conclude which software is better based on this comparison difference, however, we can do some simple summary for each solution:

You will prefer MYOB because:
  1. Common software, easier to get help via employment or outsource
  2. Fixed software without much customisation and lesser functionality
  3. Suitable for older generation workers so is easier to learn
You will prefer MoneyWorks if:
  1. Need more functions and flexibility
  2. Users both Mac or Windows within the company
  3. Need to access remotely
  4. Needs integration (now or future) to third party applications like e-commerce, warehousing and even POS which allows integration
Want to know more? Do feel free to contact us!

William Tan
tel: +65 63477000

Monday, June 19, 2017

Comparing MYOB Singapore Edition of Accounting and Premier

Many might have forgotten about MYOB Accounting, as over the last few years, we have been selling mostly MYOB Premier in Singapore due to government grants. Most popular reason being since it is supported, most people would want to maximise the grant by buying the highest value solution in the market. Another reason is that MYOB Accounting is not an IRAS compliance accounting solution.

IRAS does not endorse or enforce any company to buy GST compliance software, but it does make GST reporting breeze (just by using the GST F5 return report in MYOB Premier).

However, since all the grants are no longer available for accounting and payroll, can users consider MYOB Accounting edition instead as it is definitely a cheaper edition?

We attempt to simplify this comparison for you to decide if you should consider between MYOB Accounting or MYOB Premier Edition.

Comparison Component
MYOB Accounting v24 Singapore Edition
MYOB Premier v19 Singapore Edition
Price Difference (with GST)
Work collaboration
Single User ONLY
Single or Multi-user (can add-on user license later)
GST Compliance
YES (with IAF and GST Return)
Single/Local ONLY
Inventory (location)
Single location
Multi-warehouse location
(Price Level)
Single selling price
Multi-price level and quantity breaks
Time Billing

The above is a quick comparison for fast decision, and therefore is not a complete comparison for full features. For full comparision, please refer to MYOB official website.

To all you to decide which version, just ask youself these 4 questions:
  1. Do you have multi-location warehouse?
  2. Do you deal with foreign currency?
  3. Do you bill customer based on time spent?
  4. Do you have more than one user accessing MYOB?
If your answer to the all above 4 questions is "NO", you may just buy MYOB Accounting. The table gives you a more comprehensive comparison if you want to cover more ground checks to be sure.

Still in doubt? Contact us for further clarifications.

William Tan
Tel: 6347 7000

Wednesday, June 14, 2017

Click on Invoice to Allow Payment via PayPal

Clicking Invoice to Pay via PayPal

Online Payment is not new. We have been paying our bills and online purchases via credit card and merchant services like PayPal etc. As the adoption is increasingly getting popular, we would want to explore how our customers can pay for our services using online payment.

Many would have argued that in B2B businesses (business-to-business), companies would not want to pay via credit card or even debit card. How do online business solutions like Xero, Quickbooks Online and Salesforce CRM receive their subscriptions? Businesses has no choice but to pay via online facilities as these services does not accept off-line payment. So we do feel that acceptance of online payment has to take-off or has already taken off.

Benefits of Online Payment:
  • Faster sales decision as online payment is using credit card (or future money)
  • Better cash flow as money will come in first before your delivery
  • Guaranteed payment compared to risk of bounce cheque
  • Cut down the effort of chasing receivables which may eventually turn into bad debts
  • No more credit terms! Let the merchant bank take the risk, while you take the money first
  • No traveling to bank, look for parking or even engaging courier service to do banking
Therefore the benefits is beyond convenience. 

How do we do it:

Click-to-PayPal Invoice
Click-to-PayPal with Moneyworks

Call us to show you now!

William Tan
web: amcpro.asiaamcpro.asia
tel: 6347 7870

Wednesday, June 7, 2017

Go Cloud or On-Premise?

Go Cloud or On-Premise?

As technology moves in massive wave, it does confuse and contradict our plan to grow the business. More and more solutions are already on Software-As-A-Service or cloud platform, some ended up with no choice but to jump into the cloud band wagon. 

Let's look at a typical business solution like MYOB which is the most adopted accounting solution in Singapore. More than 50% SMEs in Singapore adopted MYOB as their accounting solution. However, this solution is an On-Premise solution. Does this means there is no market for cloud accounting solution? Answer is NO, or at least adoption has yet to pick up. Online (or Cloud) solution like Xero and Quickbook-Online is coming in very aggressively.

Let us go through the pros and cons of cloud to help us decide better:

  • Access anywhere and anytime for mobile workforce or travelers
  • Lower initial investment cost
  • No hardware or infrastructure involve
  • No long term commitment required
  • Easy to adopt and scale with add-on
  • No asset ownership
  • Total cutoff if internet access fails either on hosting server or your own internet fails
  • Cloud server might face security issue (even some defense ministry also can get hack)
  • Is easy to bring data up, but is never easy to bring it down (eg. you cannot migrate from Quickbook Online to Quickbook on-premise version)
  • Cheap for inflexibility in features and functions, but it might add up to be more expensive if you need to add on more functions to scale up

Best of both world: Private Cloud - On-Premise yet accessible over internet

You can turn some of your solution to private cloud. How? You can deploy remote desktop solution to enable you to access from outside office all the application that are desktop based and being shared like MYOB. You host your Windows machine within office doing all necessary backup and allow access from public area can help you have full control and the best of both worlds:
  • Access from anywhere and anytime
  • When internet is down, you can access within your office (business goes on)
  • When server or host computer is down, access your software from any other computer first, while trying to restore your server or host computer
  • Not tied down to internet service provider or software vendor
  • You can open or close the application from the internet world (means you choose if you want to access from out of office or not)
  • Backup and restore is in your hands
Remote to office with Samsung S8
You are in control of how you want your business operations to be...

Please feel free to contact us at:
Tel: +65 6347 7000