- Xero
- MYOB
- Software
Xero vs MYOB: which is right for your small business?
A plain-English comparison of Xero and MYOB for Australian small businesses: bank feeds, payroll, apps and how to choose.
By BVS ·
Xero and MYOB are the two names you’ll hear most in Australian small business accounting. Both are cloud-based, both handle GST and BAS, and both can run Single Touch Payroll. So how do you choose?
What they have in common
- Bank feeds that bring your transactions in automatically
- Invoicing, quotes and bill tracking
- GST tracking and BAS reports
- STP-enabled payroll
- Mobile apps for receipts and invoices on the go
For most small businesses, either will do the job well.
Where they differ
Xero is known for its clean design and a large marketplace of connected apps, from point-of-sale to job management. If you plan to plug in other tools, that ecosystem can be a big plus.
MYOB has been part of Australian business for decades, and many bookkeepers and long-running businesses know it well. Its plans range from simple to more advanced inventory and job costing.
Plans, features and prices change often, so compare the current options on each provider’s website before you decide.
How to choose
Ask yourself:
- What does my industry use? Some industry apps only connect to one of them.
- Do I need payroll now, or soon? Check the plan you choose includes it.
- Do I track stock or jobs? Look closely at inventory and job features.
- Who else needs access? Your bookkeeper, accountant and team should be comfortable in it.
Our view
We work in both, and we’ll recommend the one that fits your business, not the other way around. If you’re already using one and it’s working, there’s usually no reason to switch.
Want help setting up? See our bookkeeping service or book a free consult.
This article is general information only. Check each provider’s website for current plans and pricing.