ABC Chartered Accountants is a public accounting practice located in Te Awamutu, providing professional accounting services to a range of clients. MYOB Enterprise (MYOB AE) is used as office accounting software, and financial statements are produced by MYOB AE reporter.
This research compares reporting of the existing MYOB AE reporter with Xero HQ reporter, as an alternative for compliance, efficiency, consistency, and report customizing process, and also to find out any other additional reports that Xero HQ can produce compared to MYOB AE.
Semi-structured interviews were used to investigate the insight of MYOB AE reporter and Xero HQ reporter. Actual MYOB AE software, together with some MYOB supporting materials, were used (MYOB. Reporter 3.3.help Designing & Generating reports for your practice .Reporter 3.2) and Xero reporting videos (Xero Partner Resources. 2018), with some Xero reporting information published from Xero (www Xero.com/report template in action) were used.
The major findings are that MYOB AE and Xero HQ offer compliance reporting templates for different types of entities. Both software allow customised reports to reflect practice preferences. Customising reports help to keep report consistency and report efficiency at the practice. When customising reports in MYOB AE, formats are created, and in Xero HQ Rich Text Editor, Layout Editor and Report Setting Editor are used. When customizing reports, the time spend on planning a new report will maximize the benefit to the practice. So, the difference between the two reporters is the method of customizing reports.