If you’re exploring accounting software for your business, chances are you’ve come across two major players: Xero and MYOB. Both offer cloud-based platforms designed to simplify bookkeeping, payroll, and compliance—but each caters to slightly different business needs.
In this updated guide, we compare their features, pricing, and ideal use cases to help you decide which is best for your business.
MYOB has evolved into a versatile suite of products tailored for businesses at every stage—from sole traders to complex enterprises. The current product lineup includes:
A modern cloud platform offering plans like:
Lite: Invoicing, GST tracking, and basic reporting
Pro: Adds payroll (up to 2 employees), bills, and quotes
AccountRight Plus / Premier (Cloud versions): Payroll, inventory, job tracking, and multi-currency support
All versions integrate with bank feeds, support mobile access, and come with solid compliance tools for GST and STP (Single Touch Payroll).
A full-featured ERP built on the Acumatica platform, designed for businesses that have outgrown basic accounting tools. Features include:
Multi-entity financials
CRM and customer lifecycle tools
Inventory, warehousing, and distribution
Advanced payroll and project costing
SMEs needing payroll and inventory management
Multi-location or multi-currency businesses
Growing businesses ready to step into ERP
Anyone who prefers strong local support and compliance with Australian tax rules
Xero is a cloud-native accounting platform that’s loved by startups and growing SMEs for its sleek interface and ease of use.
Starter ($32/month): Limited to 5 invoices and 20 bank transactions
Standard ($65/month): Unlimited invoicing, bills, and bank reconciliations
Premium ($85+/month): Adds multi-currency, expense claims, and project tracking
Xero integrates with 1,000+ third-party apps and offers a user-friendly mobile experience.
Easy bank reconciliation
Customisable invoices and quotes
Built-in expense tracking
Payroll (via integration or paid add-on)
Multi-currency and project tracking (Premium only)
Small businesses and sole traders looking for intuitive software
Businesses who prioritise integrations and mobile access
Companies with international clients needing multi-currency
Teams that want clean, visual dashboards and reports
| Platform | Entry Plan | Mid-Tier Plan | Premium Plan |
|---|---|---|---|
| MYOB | Lite: $30/month | Pro: $55/month | Premier: $140+/month |
| Xero | Starter: $32/month | Standard: $65/month | Premium: $85+/month |
💡 Note: MYOB AccountRight Premier and Acumatica/Advanced are priced per user and can scale quickly for growing teams. Xero charges flat monthly fees but limits access based on features.
Yes. Many businesses start on Xero or MYOB and switch as their needs evolve. Both platforms allow data migration via CSV, and services like Jet Convert can help automate transfers.
If switching:
Clean your Chart of Accounts before export
Be aware of differences in tax codes and system accounts
Consult your accountant for large-scale migrations
| Feature | Best Choice |
|---|---|
| Ease of Use | Xero |
| Payroll Built-In | MYOB |
| Multi-Currency & Project Tracking | Xero Premium or MYOB Premier |
| ERP-Grade Functionality | MYOB Acumatica |
| Mobile App & Add-Ons | Xero |
| Compliance with AU Tax | Both (excellent) |
| Scalability for Growing Teams | MYOB |
Stratus Consulting Group is an accredited MYOB Partner and ERP specialist, working with businesses across Australia. Whether you're just getting started or need a powerful ERP solution, we help you choose, implement, and support the right system.
📞 Call 1300 499 000 or contact us to get expert advice within 24 hours.