How Much Does it Really Cost?
A critical consideration when evaluating accounting software is the true cost of ownership. With any software, the initial purchase price represents only a fraction of the cost over the lifetime of the product. The other factors that need to be considered are the cost of support, upgrades, and tax tables on an annual basis. So, what can it really cost? See for yourself.
MYOB AccountEdge & Premier Accounting |
QuickBooks Pro |
QuickBooks Premier |
Peachtree Complete Accounting |
|
Initial Purchase Price |
$299.00
|
$199.95 |
$399.95 |
$269.99 |
| Unlimited Support - Single User | $249.00
|
$299.00 |
$349.00 |
$329.99 |
| Unlimited Support - Multi-User | $299.00
|
N/A |
N/A |
$399.99 |
| Tax Table Updates - Annually | Included
|
$299.00 |
$299.00 |
$249.95 |
| Annual Upgrade - Single User | $159.00
|
$199.95 |
$399.95 |
$269.99 |
| Annual Upgrade - Multi-User | $249.00
|
N/A |
N/A |
$699.99 |
| Additional Workstation Licenses | $149.00
|
$199.95 |
$399.95 |
$269.99 |
| 5-Pack Workstation Licenses | $499.00
|
$899.85 |
$1,499.95 |
$699.99 |
What does all of this mean to you? Well, if you use three years for the comparison basis, you can see that MYOB offers a considerable savings over our competitors.
For example, a single user with complete support and payroll would pay the following:
Three-Year Cost of Ownership Single User
MYOB Premier Accounting1 |
QuickBooks Pro2 |
QuickBooks Premier3 |
Peachtree Complete Accounting4 |
|
Initial Purchase Price |
$299.00
|
$199.95 |
$399.95 |
$269.99 |
| Unlimited Support (3 years) |
$747.00 |
$897.00 |
$1,047.00 |
$989.97 |
| Annual Tax Tables (3 years) |
Included with Complete Support
|
$897.00 |
$897.00 |
$249.95
|
| Annual Product Upgrades (2 years) |
Included with Complete Support
|
$399.90 |
$799.90 |
$539.98 |
| Payroll Forms Service (3 years) includes local, State, and Federal payroll forms |
$237.00
|
Included with Enhanced Payroll Plus |
Included in Payroll Tax Update Service |
N/A |
| Total Cost for 3 years | $1,283.00 $428/year |
$2,393.85 $798/year |
$3,143.85 $1,048/year |
$2,049.89 $683/year |
If you need to have 5 people in your accounting software at the same time there is even a greater savings:
Three-Year Cost of Ownership Multi-User (5 Licenses)
MYOB Premier Accounting1 |
QuickBooks Pro2 |
QuickBooks Premier3 |
Peachtree Complete Accounting4 |
|
Initial Purchase Price |
$798.00
|
$899.95 |
$399.95 |
$699.99 |
| Unlimited Support (3 years) |
$897.00 |
$1495.00 |
$1,745.00 |
$1,199.97 |
| Annual Tax Tables (3 years) |
Included with Complete Support
|
$897.00 |
$897.00 |
$749.85
|
| Annual Product Upgrades (2 years) |
Included with Complete Support
|
$799.90 |
$1,499.95 |
$1,399.98 |
| Payroll Forms Service (3 years) includes local, State, and Federal payroll forms |
$237.00
|
Included with Enhanced Payroll Plus |
Included in Payroll Tax Update Service |
N/A |
| Total Cost for 3 years | $1,932.00 $644/year |
$4,091.75 $1,364/year |
$4,541.90 $1,514/year |
$4,049.79 $1,350/year |
Three-Year Cost of Ownership Single User Assumptions
1. Assumes tax table subscriptions (for payroll processing), unlimited support, and annual upgrades for the two years following the initial purchase.
2. Unlimited Support is based on $299/year, it is possible to receive Unlimited Support for $249/year if purchased simultaneously with QuickBooks. Also assumes annual upgrades for the two years following the initial purchase. State and Federal tax table updates are only available with the purchase of Enhanced Payroll. Enhanced Payroll is available at $199 for the first year.
3. Unlimited Support is based on $349/year, it is possible to receive Unlimited Support for $299/year if purchased simultaneously with QuickBooks. Also assumes annual upgrades for the two years following the initial purchase. State and Federal tax table updates are only available with the purchase of Enhanced Payroll. Enhanced Payroll is available at $199 for the first year.
4. Assumes tax table subscriptions (Peachtree Payroll Tax Service Update), unlimited support, and annual upgrades for the two years following the initial purchase.
1. Purchase price includes the initial product and the purchase of an additional 5-license pack. Assumes tax table subscriptions (for payroll processing), multi-user unlimited support, and multi-user annual upgrades for the two years following the initial purchase.
2. Initial purchase price assumes the purchase of a 3-license pack and 2 additional single user licenses. Unlimited Support is based on $299/year, it is possible to receive Unlimited Support for $249/year if purchased simultaneously with QuickBooks. Also assumes annual upgrades for the two years following the initial purchase. State and Federal tax table updates are only available with the purchase of Enhanced Payroll. Enhanced Payroll is available at $199 for the first year.
3. Initial purchase price assumes the purchase of a 5-license pack. Unlimited Support is based on $349/year, it is possible to receive Unlimited Support for $299/year if purchased simultaneously with QuickBooks. Also assumes annual upgrades for the two years following the initial purchase. State and Federal tax table updates are only available with the purchase of Enhanced Payroll. Enhanced Payroll is available at $199 for the first year.
4. Initial purchase price assumes the purchase of a 5-license pack. Assumes tax table subscriptions (Peachtree Payroll Tax Service Update), unlimited support, and annual upgrades for the two years following the initial purchase.