myBooks by Zetran is a cloud-based accounting software designed to help users handle their bills, expenses, invoices, and more. Its features include auto bank feeds, multi-currency transactions, and an analytical dashboard. Monthly fees range from $0 to $9.99, and it’s best for small IT and financial companies, startups with high overhead expenses, and freelancers.
myBooks Pros and Cons
Extremely easy and functional
Lacks payroll integration
Excellent analytical dashboard
Simple financial reports
Who myBooks is Best For
- Small IT and financial companies: myBooks’ paid plans allow small IT and financial services providers to reconcile 1,000 to unlimited monthly bank transactions.
- New entrepreneurs burdened by high overhead expenses: Its standard plan is ideal for startups that have limited budgets and rely heavily on bootstrapping to avoid high overhead expenses.
- Freelancers: It’s best for freelancers who need features for client billing and mobile accessibility.
The myBooks pricing guide shows one free plan and two paid subscriptions ($4.99 and $9.99 per month). The main differences between the plans are the maximum numbers of users, contacts, and automatic bank feeds as well as access to a purchase order management functionality.
Maximum Numbers of Contacts
Looking for a company that scales as you grow? Check out QuickBooks.
Designed for a single user, the Free plan supports up to 25 contacts and 100 monthly transactions.
This subscription enables users to add up to 250 contacts, set up single automatic bank feeds, and reconcile up to 1,000 monthly bank transactions. It supports up to three active users and has a purchase order management functionality.
Premium supports a limitless number of users, and it comes with unlimited contacts, automatic bank feeds, and monthly transactions. Users may also process purchase orders with this plan.
myBooks Alternatives 2020
Businesses that want the most widely used small business accounting software that scales as they grow
Solopreneurs and freelancers who need to streamline customer invoicing and payment collection
Businesses in the nonprofit, manufacturing & distribution, professional services, contracting, and retail industries
Businesses that use other Zoho products like Zoho CRM
myBooks makes it easy for users to process and simplify tedious financial transactions such as invoicing, bills, expenses, and accounts receivable. Check out this list of its top features to help you decide if myBooks is for you.
myBooks’ dashboard keeps users aware of what is happening in their business by giving them an instant view of their cash flow, invoices, profit and loss, accounts receivable and payable, and more.
Auto Bank Feeds
With this feature, users may automatically import transactions from their banks directly into the myBooks platform. They just need to connect their bank accounts to generate automated feeds on their dashboard.
Users who have a bank account in a foreign currency may benefit from myBooks’ multi-currency transactions. They are allowed to make accounting entries in multiple currencies and view bank balances in a particular currency only.
Enterprise-Level Data Security
myBooks uses an enterprise-grade security protocol to protect its customers’ personal and financial data. It employs both predictive and preventive safety practices to prevent cyber threats from penetrating the system, keeping all valuable data safe and secure.
Which Accounting Software Provider is Right for You?
Most Helpful myBooks Reviews
Users who gave positive myBooks reviews said that it is functional and extremely easy to use. Others mentioned that its analytical dashboard is excellent, while some like that its reports are simple and easy to understand. Meanwhile, those who left negative reviews complained that it lacks a project management functionality and payroll integration.
Excellent dashboard and reports
“It allows us to create invoices, bills, and purchase orders in a few minutes. Its financial dashboard looks excellent, and reports are simple and easy to understand.”
Lacks project management functionality
“Project management is not available in the app. I also need payroll and other integration for the software.”
myBooks Frequently Asked Questions (FAQs)
Who will have access to my financial information?
Your credit card and bank credentials won’t be stored on myBooks. They will be safely handled by myBooks’ third-party payment providers—Plaid and Stripe.
Can users import and export data into myBooks?
While users may export financial data from myBooks, data import is currently not allowed.
Does it have a mobile app?
Yes, it does. You may download its mobile app from Google Play and the App Store.
Our Top Accounting Software Provider Picks
If you aren’t sure that myBooks is right for you, then this article on the 4 Best Accounting Software is a review of our top choices. In this guide, we looked at a variety of solutions and narrowed our recommendations down based on features—like detailed financial statements, invoicing, and bill tracking.