Best-Rated Accounting Software

See Our Ratings Methodology.

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Most Satisfied Customers | MYOB

Aussies have rated MYOB as the top brand in Canstar Blue’s latest accounting software ratings, with five stars across all categories, including value for money, reporting, ease of use, design, functionality, ease of integration, client service and overall satisfaction.

Fact Checked Fact Checked

How we rate accounting software

Our review compares accounting software on customer satisfaction, so you can find out what other Aussies think about the compared brands before you go ahead with a purchase. Think of it as like asking hundreds of your closest mates which accounting software they think is best!


Canstar Blue surveyed 628 Australians for their feedback on the accounting software(s) their business pays for and have used in the last two years.

  • The outcomes reported in these ratings are measured via accredited research panels managed by Qualtrics.


Respondents rate their satisfaction with their accounting software brand(s) from zero to ten, where zero is extremely dissatisfied and ten is extremely satisfied. Brand satisfaction was rated by respondents on the following criteria:
  • Overall satisfaction: measures consumer satisfaction with an accounting software brand as an individual score NOT a combined total of all criteria.
  • Value for money: the cost is reasonable for the quality and functionality of the accounting software.
  • Reporting: the accounting software has a number of reporting options, and can generate a wide range of reports (i.e. BAS, quarterly review documents, payroll, etc.).
  • Ease of use: the accounting software is easy to use, and has clear instructions or guides to help.
  • Design: the accounting software is aesthetically pleasing, and has a clean and smooth interface.
  • Functionality: the accounting software has various features (i.e. inventory, payroll, billing and invoicing, etc.) to help with preparing reports and tracking business dealings.
  • Ease of integration: the accounting software is compatible with multiple programs and apps.
  • Client service: the accounting software brand’s staff are readily available to contact, respond quickly, and help with any questions or issues that arise.

The winning brand is the one that receives the highest Overall satisfaction rating once all the scores from the Overall satisfaction criteria are combined and averaged.

  • Overall satisfaction is asked as a specific question and represents an individual measure, not a combined total of all criteria.
  • When we cannot determine a clear winner from the criteria for the Overall satisfaction rating, we will then look at the other criteria measured in the rating.
    • The brand with the highest number of five-star ratings within the supporting criteria will become the five-star recipient in overall satisfaction, and thus win the award. If a clear leader still cannot be determined from the supporting criteria, joint winners will be declared.

Brands must have received at least 30 responses to be included, so not all brands available in the market have been compared in this survey. The brands rated in this survey are listed below in order of best overall satisfaction.

  • MYOB
  • Xero
  • Intuit QuickBooks

Find more detailed information on our Most Satisfied Customer methodology.


Best accounting software brands in Australia

  1. MYOB
  2. Xero
  3. Intuit QuickBooks
  4. Other accounting software brands

1. MYOB


myob_logo

Ratings result

MYOB was rated five stars across all categories, including value for money, reporting, ease of use, design, functionality, ease of integration, client service and overall satisfaction.

Editor’s notes

Founded in Australia, MYOB has been a staple in the accounting industry, with the company offering a variety of products to assist businesses with keeping on top of their finances. Features include payroll for employees, invoicing for clients, reports and budgets for team meetings, as well as a variety of functions that help with tax time, inventory, bank reconciliations and even cash flow management. In addition to the basics of accounting software, MYOB has plenty of extras through partnerships with other companies, along with business management features to help streamline other areas of your business operations.

Revamping its suite of plans, MYOB now offers the Lite, Pro, AccountRight Plus and AccountRight Premier plans for businesses, along with a Payroll Only option for those who simply need help with the pay run. The Lite plan costs $30 per month, with the Pro priced at $55 per month, while the AccountRight range costs between $136 and $170 depending on which plan you opt for. Payroll Only is priced at $10 per month, with MYOB also offering some financial services as add-ons, which also come at an additional cost.

MYOB Logo

Business Lite

For sole traders and small business with up to 2 employees

  • Track income and expenses
  • Create and send unlimited invoices and quotes
  • Manage tax and basic reports
  • Connect up to 2 bank accounts
  • Add payroll for up to 2 employees (extra $1.50/month per employee)
  • Save $150 over first 6 months
  • $5.00 per month for first 3 months. New customers only. T&Cs Apply.
from $5.00/month
min. cost $30.00 $5.00 over 1 month
Go to site
MYOB Logo

Business Pro

For growing businesses with multiple employees wanting more advanced reporting

  • Track income and expenses
  • Create and send unlimited invoices and quotes
  • Create advanced reports and budgets
  • Connect unlimited bank accounts
  • Employee rostering
  • Save $282 over first 6 months
  • $8.00 per month for first 3 months. New customers only. T&Cs Apply.
from $8.00/month
min. cost $55.00 $8.00 over 1 month
Go to site
MYOB Logo

Business AccountRight Plus

For larger businesses that want a powerful desktop and web app

  • All the benefits of Business Pro
  • Unlimited payroll at no extra cost
  • Add unlimited inventory items
  • Bill projects and clients by time
  • Try FREE for 30 days
  • Save $204 over first 3 months
  • $68.00 per month for first 3 months. New customers only. T&Cs Apply
from $68.00/month
min. cost $136.00 $68.00 over 1 month
Go to site

2. Xero


Xero logo

Ratings result

Xero was rated five stars for value for money, reporting, functionality and ease of integration, with four stars for client service, design, ease of use and overall satisfaction.

Editor’s notes

Founded across the ditch in New Zealand, Xero has grown to be a globally recognised accounting software provider, with the cloud-based system available in a range of subscriptions. Starting at $29 a month for the Starter pack, Xero also offers the Standard pack for $59 a month, and the Premium line beginning at $76 a month. The larger packs will suit larger businesses, allowing more employees to be added to the software (at an additional cost), while the Starter pack should suit owner-operated businesses.

Depending on which pack you purchase, features such as invoicing (including reminder emails for those forgetful clients), inventory and payroll are available for all packages, with additional features such as automatic bank transactions and bank reconciliations also available. If you’re looking to make the most of your accounting software, it’s best to research Xero’s website for a full comparison of capabilities and extras, or sign up for a free 30-day trial to get a feel for how the software works.

MYOB Logo

Starter

Good for freelancers, sole traders and new businesses.

  • Send 20 invoices and quotes
  • Enter 5 bills
  • Reconcile bank transactions
  • Payroll for 1 person
  • Capture bills and receipts with Hubdoc
  • 30-day free trial available
from $29.00/month
min. cost $29.00 over 1 month
Go to site
MYOB Logo

Standard

Most Popular Plan – Good for growing small businesses.

  • Send invoices and quotes
  • Enter bills
  • Reconcile bank transactions
  • Payroll for 2 people
  • Capture bills and receipts with Hubdoc
  • 30-day free trial available
from $59.00/month
min. cost $59.00 over 1 month
Go to site
MYOB Logo

Premium 5

Good for established businesses of all sizes.

  • Send invoices and quotes
  • Enter bills
  • Reconcile bank transactions
  • Payroll for 2 people
  • Capture bills and receipts with Hubdoc
  • Automate superannuation
  • Use multiple currencies
  • 30-day free trial available
from $76.00/month
min. cost $76.00 over 1 month
Go to site

3. Intuit QuickBooks


Intuit-Quickbooks_logo

Ratings result

Intuit QuickBooks was rated five stars for ease of use, four stars for client service, ease of integration, functionality, design, reporting and value for money, with three stars for value for money.

Editor’s notes

When it comes to accounting software, QuickBooks has been a household name for many years, offering businesses a wide range of software options and features to suit their specific industry, size and financial goals.

QuickBooks primarily offers QuickBooks Online as its flagship product, which is a cloud-based accounting software suite targeted towards small businesses. QuickBooks Online features custom invoicing, expense tracking and sorting for when tax time comes around, Single Touch Payroll, GST and BAS generation, insights and reporting, as well as a cashflow manager and mobile app compatibility to help you run your business while on the move. Providing a 30-day free trial, QuickBooks’ pricing starts at $25 a month for the Simple Start package, the Essentials mid-point package costing $40 a month, while the Plus package will cost $55 a month.

MYOB Logo

Simple Start

Online accounting software for small businesses with up to 4 employees

  • Track GST & E-Lodge BAS
  • Send quotes & invoices
  • Track income & expenses
  • 30-day free trial available
  • 50% off for first 3 months. New customers only. T&Cs Apply.
from $12.50/month
min. cost $25.00 $12.50 over 1 month
Go to site
MYOB Logo

Essentials

Accounting Software for Small Businesses to manage suppliers and multiple users

  • Track GST & E-Lodge BAS
  • Send quotes & invoices
  • Track income & expenses
  • Manage suppliers & bills
  • Manager users (up to 3)
  • 30-day free trial available
  • 50% off for first 3 months. New customers only. T&Cs Apply.
from $20.00/month
min. cost $40.00 $20.00 over 1 month
Go to site
MYOB Logo

Plus

Accounting Software with project and inventory tracking for Small Businesses

  • Track GST & E-Lodge BAS
  • Send quotes & invoices
  • Track income & expenses
  • Manage suppliers & bills
  • Manager users (up to 5)
  • Track inventory, projects & budgets
  • 30-day free trial available
  • 50% off for first 3 months. New customers only. T&Cs Apply.
from $27.50/month
min. cost $55.00 $27.50 over 1 month
Go to site

4. Other accounting software brands

Not all brands in the market qualify for our ratings (based on minimum survey sample size), but that doesn’t mean they’re not worth considering. Here are several more brands to check out before making a purchase decision.

  • FreshBooks
  • MoneyWorks

  • Reckon
  • Sage

Reckon Logo

Accounting Essentials

The tools you need to make running your business easier.

  • Enter payments and expenses
  • Track and report GST for BAS
  • See cash flow in real-time
  • Create budgets
  • 30+ insightful reports
  • Share with accountant
from $6.00/month
min. cost $12.00 $6.00 over 1 month
Go to site
Reckon Logo

Accounting Plus

The tools you need to make running your business easier.

  • Enter payments and expenses
  • Track and report GST for BAS
  • See cash flow in real-time
  • Create budgets
  • 35+ insightful reports
  • Share with accountant
  • Unlimited invoices and bills
  • 1000 bank transactions*
from $10/month
min. cost $20.00 $10.00 over 1 month
Go to site
Reckon Logo

Accounting Premium

The tools you need to make running your business easier.

  • Enter payments and expenses
  • Track and report GST for BAS
  • See cash flow in real-time
  • Create budgets
  • 50+ insightful reports
  • Share with accountant
  • Unlimited invoices and bills
  • Unlimited payroll
from $17.50/month
min. cost $35.00 $17.50 over 1 month
Go to site

What accounting software is compatible with Mac computers?

These days, most accounting software providers are cloud-based, which means that they don’t need to be compatible with a particular operating system, or are system-exclusive. Your data is stored in a ‘cloud’ and can be accessed using a web browser at any time, as long as you have internet access. If you require accounting software that can be downloaded and used on a desktop, you may need to ensure that it is compatible with your Mac computer before you purchase the program.


Related: Which accounting software programs are free?


Excel Vs. Accounting Software – which is better?

Microsoft Excel can be used for basic bookkeeping if you have a template. There are plenty of websites that offer existing templates – both free and paid – for you to download and use, which you can customise to suit your business or accounting needs, and manually record your daily transactions within the document. Some basic bookkeeping processes that you can do in Excel include tracking your income and expenses, organising and categorising transactions and keeping up to date with invoices you send to clients.

While this process may seem straightforward, it does require you (or someone else) to manually input the data, which can be time-consuming and difficult to keep track of, particularly if your business expands and you need to keep track of multiple areas. And with accounting software programs aiming to cut down on the workload, it will quickly become a question of time versus money, which will be entirely dependent on your needs and business requirements. If you only handle small amounts as a sole operator, you can likely get away with an Excel document, but if your business is likely to take on new projects and clients, looking at signing up to an accounting software program, even a free one, could make a noticeable difference in your day-to-day activities.

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About our consumer experts


Dean Heckscher: Site Editor

This report was written by Canstar Blue’s Site Editor, Dean Heckscher. He’s our resident expert on all things automotive, health & fitness, streaming and more. Dean is also one of Canstar Blue’s customer research report producers, helping to turn complicated subjects into easily-digestible information for our readers. He’s passionate about helping consumers make better-informed purchase decisions on all manner of consumer goods and services.

 

Meet the Editorial Team

 

Samantha Howse: Consumer Research Specialist

Sam Howse Research Specialist

Samantha Howse is Canstar Blue’s Consumer Research Specialist, coordinating the consumer research program behind our customer satisfaction awards across Canstar and Canstar Blue in Australia and New Zealand. Sam has earned a Bachelor of Business (Marketing) from Griffith University and, with seven years in market research and 2 years in marketing, she is experienced in survey design, implementation and analysis, coupled with an understanding of marketing principles and best practice.

 

Meet the Research Team

Past Ratings

Here are the past winners from Canstar Blue’s accounting software ratings:

  • 2022: Intuit QuickBooks
  • 2021: Xero
  • 2020: Intuit QuickBooks
  • 2019: MYOB
  • 2018: Xero
  • 2017: Xero
  • 2016: Xero
  • 2015: Xero
  • 2014: MYOB

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