Xero vs QuickBooks vs MYOB: Which Accounting Software for Your Business

Everyone needs accounting software. In Australia, three names dominate: Xero, QuickBooks, and MYOB. All three do the basics. All three will keep you compliant. So how do you choose?

I’ve helped dozens of businesses make this decision. Here’s what actually matters.

The Quick Summary

Xero: Best for most Australian SMBs. Clean interface, strong ecosystem, Australian company.

QuickBooks: Cheaper entry point, decent features, global company playing catch-up in Australia.

MYOB: The legacy option. Enterprise features, clunkier interface, still widely used.

Now let’s dig deeper.

Xero

What’s Good

Interface. Xero looks modern and is genuinely easy to use. Non-accountants can navigate it. Bank reconciliation is almost pleasant.

Ecosystem. Xero has the best app marketplace. Most Australian business tools integrate with Xero first. Payroll providers, inventory systems, point of sale, CRMs. If you need integrations, Xero has more than alternatives.

Accountant relationships. Most Australian accountants prefer Xero. Easy collaboration. Less friction at tax time.

Australian focus. Xero is a New Zealand/Australian company. GST, BAS, STP (Single Touch Payroll), Super are all handled well. They understand the compliance requirements.

What’s Not Great

Pricing. Xero isn’t cheap. Starter is limited. You’ll probably need Standard ($58/month) or Premium ($78/month). Add payroll and it climbs further.

Payroll add-on. Payroll is separate from the main subscription. That adds cost and some integration friction.

Feature creep. Xero keeps adding features that add complexity. For simple businesses, it’s more than you need.

Best For

Most Australian SMBs, especially those who:

  • Value modern interface and usability
  • Need integrations with other tools
  • Want their accountant to be happy

Pricing

  • Starter: $29/month (limited invoices and bills)
  • Standard: $58/month (unlimited invoices and bills, 2 currencies)
  • Premium: $78/month (multi-currency)
  • Payroll: $5/month + $5/employee

QuickBooks

What’s Good

Price. QuickBooks Simple Start is $15/month. That’s half Xero’s equivalent tier. For cost-sensitive small businesses, this matters.

Mobile app. QuickBooks’ mobile experience is solid. If you work on the go, it’s worth considering.

Included features. Some things that cost extra in Xero (like multi-currency in lower tiers) are included in QuickBooks.

Global data. If you work with international partners also using QuickBooks, there’s some benefit to shared ecosystem.

What’s Not Great

Australian ecosystem. Fewer integrations than Xero in Australia. The global tools are there, but local-specific tools often miss QuickBooks.

Accountant preference. Many Australian accountants prefer Xero. If your accountant has to learn QuickBooks for you, that’s friction.

Interface. Less polished than Xero. Functional but not as intuitive.

History. QuickBooks exited Australia once before, then came back. Some people remember and don’t fully trust the commitment.

Best For

Cost-conscious small businesses who:

  • Don’t need extensive integrations
  • Have simple accounting needs
  • Are comfortable with a less local-focused platform

Pricing

  • Simple Start: $15/month
  • Essentials: $30/month (multiple users, time tracking, bills)
  • Plus: $46/month (inventory, project profitability)

MYOB

What’s Good

Payroll. MYOB has strong payroll built in, not bolted on. For businesses where payroll is complex, this is relevant.

Enterprise features. MYOB Business has legitimate mid-market features. Job costing, advanced inventory, serious reporting.

Desktop option. Some businesses still want desktop software. MYOB AccountRight offers that.

Longevity. MYOB has been in Australia forever. Some industries are just deeply MYOB-based.

What’s Not Great

Interface. Feels older. The user experience isn’t as polished as Xero. Bank reconciliation is more cumbersome.

Integration ecosystem. Smaller app marketplace than Xero. Many modern tools don’t connect.

Pricing complexity. Multiple products with overlapping features. Hard to know what you actually need.

Mixed reputation. Many businesses have stories of frustrating MYOB experiences. Customer support gets mixed reviews.

Best For

Established businesses who:

  • Have complex payroll requirements
  • Need mid-market/enterprise features
  • Already use MYOB and switching isn’t worth it

Pricing

  • MYOB Business Lite: $15/month (very limited)
  • MYOB Business Pro: $55/month
  • MYOB Business AccountRight: $89+/month (desktop plus cloud)

What Actually Matters

Your Accountant’s Preference

Seriously, ask your accountant what they prefer. You’ll work with them at least quarterly, maybe monthly. If they’re efficient in Xero and slow in QuickBooks, that affects your costs and experience.

Most Australian accountants prefer Xero. Some have strong MYOB expertise. Fewer specialize in QuickBooks.

Integration Requirements

List the other tools you use. CRM, project management, payment processing, inventory. Then check which accounting platform integrates.

If you need connections, Xero usually wins. If you’re simple and standalone, this matters less.

Complexity Level

  • Simple: One person, basic invoicing, minimal employees. Any platform works. Pick cheapest.
  • Standard: Small team, some payroll, need integrations. Xero is probably right.
  • Complex: Large team, complex payroll, inventory, job costing. Evaluate all three properly.

Growth Plans

Where will you be in three years? If you’re scaling significantly, consider the platform you’ll need then, not just now.

That said, migration between platforms is possible. Don’t overbuy for hypothetical future needs.

The Decision Framework

  1. Ask your accountant their preference
  2. List your integration requirements
  3. Assess your complexity level
  4. Get demos of finalists
  5. Price out total cost (including add-ons like payroll)

For most Australian SMBs, the answer is Xero. It’s not the cheapest, but it’s the most broadly suitable. Strong integration ecosystem, accountant familiarity, and good usability.

QuickBooks makes sense if cost is the primary factor and you have simple needs.

MYOB makes sense if you’re already there, have complex payroll, or need specific enterprise features.

Switching Is Possible

If you’re on MYOB and frustrated, switching to Xero is doable. Your accountant can help migrate.

Historical data might not transfer perfectly. But going forward, you’ll be on a better platform.

Don’t stay on software that frustrates you just because switching feels hard. It’s not as hard as years of ongoing frustration.

The Bottom Line

Pick the platform your accountant knows, that integrates with your other tools, and that matches your complexity level.

For most readers, that’s Xero. But do the evaluation for your specific situation.