Choosing accounting software is less about finding a single “best” brand and more about finding a good fit for the way your business invoices, pays staff, tracks jobs and handles GST. This guide compares Xero, MYOB and QuickBooks for Australian small businesses, including the questions to check before you commit.

How Xero, MYOB and QuickBooks differ

Xero

Xero brings invoicing, bank reconciliation and GST/BAS tasks together, with payroll, automated super and other features available according to plan. Check the limits on invoices, bills and employees in the plan you are considering. It may suit you if your bookkeeper or accountant already works in Xero, or if you want to connect other business apps.

See Xero’s current plans and features.

MYOB

MYOB Business plans cover core bookkeeping and GST/BAS tasks. MYOB Business Lite currently includes job tracking and inventory, while payroll can be added for an extra per-employee cost. Check which features sit in Lite, Pro or AccountRight before comparing it with another entry-level plan.

See MYOB’s current plans and pricing.

QuickBooks Online

QuickBooks Online plans vary by users and features. Payroll is an additional product powered by Employment Hero, and extra fees apply. Check the plan limits and the full payroll cost if you employ staff.

See QuickBooks Online’s current plans and pricing and its payroll details.

Compare the whole cost and workflow

A low introductory price may not be the lowest-cost setup once you add payroll, extra users, receipt capture or job-management tools. Compare the ongoing subscription and the features your business will actually use.

• How many invoices and bills can you enter on the plan?
• How many people need access, and how many employees will you pay?
• Do you need job tracking, stock control or project reporting?
• Can your accountant or bookkeeper access the file easily?
• What will it cost to move your existing records and opening balances?
• Which receipt, payroll and job-management tools need to connect?

For a fair comparison, check the current plan details directly with each provider. Plan names, limits and promotional prices change.

Choose for the way you work

A sole trader who sends a small number of invoices has different needs from a trade business tracking jobs or a growing team running regular payroll. Start with the work you need the software to do, then compare the plans that cover those tasks. Ask your bookkeeper or accountant which systems they support and what setup or migration would involve.

If you are still deciding, read our guide to how cloud accounting works. If you want help choosing or setting up a system, get in touch.