MYOB Releases Xero Conversion Tool to Accounting Partners

UPDATE: Clarification of conversation with Xero

MYOB has created a conversion tool to simplify moving businesses from online accounting program Xero to MYOB and was distributing it to accountant and bookkeeper partners. MYOB had asked several bookkeepers and consultants to test the tool, which also converted QuickBooks desktop accounting software to MYOB.

Bookkeeping and software consultants 2 Peas was involved in the testing of the tool and had agreed to become a conversion service partner as it recieved several requests a week to change from Xero to MYOB.

“It’s a service that helps us keep the client happy and we can pick the best product for the client” when they want to opt out of Xero or QuickBooks, said Pam Madytianos of 2 Peas.

2 Peas received “double digit” requests each week from clients and accountants to convert Xero and QuickBooks files to MYOB. The conversion took two to three days to complete.

Some steps in the conversion process, such as copying over employee names and setting up payroll, had to be performed manually.

2 Peas mostly worked with accounting firms and received requests to convert clients to alternative accounting packages, Madytianos. “We have a lot of Xero gold and silver partners who have clients that feel that Xero or QuickBooks is not the right fit for them,” she said. “We are finding a lot of files have been converted from MYOB to Xero and now they’re coming back to be reconverted.”

Businesses moving from Xero to MYOB tended to be larger companies with payroll. The main reasons were a lack of functions and the higher price, Madytianos said. “Also the fact that they had the option to keep the file on their desktop and have a backup (with MYOB AccountRight Live). I think that was a really big factor,” Madytianos said.

Some accountants were also concerned that they would be locked out of their files if they didn’t keep paying a subscription to MYOB or Xero. “It is a concern for some clients and accountants,” Madytianos said.

2 Peas had three tiers for the conversion service. The basic service cost $299 and included all customer and supplier contact information, all transactions and two bank accounts but no payroll or inventory.

The $399 premium service added payroll and inventory and up to five bank accounts, while a tailored service cost from $450. Most sales were in the third tier, Madytianos said.

The lack of an inventory in Xero was a common reason for returning to MYOB.

“Some businesses are growing and they need more functions from their accounting software. They tend to be a bit price conscious as well,” Madytianos said. While AccountRight Live cost $65 per month versus $50 a month for Xero, with add-ons for inventory “it tends to be a little pricey. That could change, of course,” Madytianos said.

2 Peas recently became an Intuit partner and were offered a free conversion tool to move businesses from QuickBooks (now branded Reckon Accounts) and MYOB desktop software to Intuit’s QuickBooks Online. When Xero contacted 2 Peas recently about its conversion services, Madytianos asked the vendor if it had a conversion tool to move businesses from MYOB to Xero, but Xero said it didn’t.

“We like to offer (conversions) the other way. But we’re not developers so we can’t invest time in doing our own (Xero to MYOB conversion) tool,” Madytianos said.