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:

	MYOB Premier	MoneyWORKS Gold/Datacentre
Recording	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
Interface	Workflow procedures	Workflow procedures
Forms Formatting	Form customizable with fixed data/field insertion	Form customizable with flexible data/field and formula insertion
Reports	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
Platform	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

Advanced Micro Control Pte Ltd

tel: +65 63477000

email: sales@amc.com.sg