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.
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 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.
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.
Find more detailed information on our Most Satisfied Customer methodology.
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.
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.
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For businesses getting started with accounting software
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from $15.00/month min. cost $30.00 $15.00 over 1 month |
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For growing business taking the next step and employing more people
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from $27.50/month min. cost $55.00 $27.50 over 1 month |
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Online or offline accounting software with job tracking and inventory
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from $68.00/month min. cost $136.00 $68.00 over 1 month |
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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.
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.
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Good for freelancers, sole traders and new businesses.
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from $29.00/month min. cost $29.00 over 1 month |
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Most Popular Plan – Good for growing small businesses.
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from $59.00/month min. cost $59.00 over 1 month |
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Good for established businesses of all sizes.
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from $76.00/month min. cost $76.00 over 1 month |
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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.
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.
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Online accounting software for small businesses with up to 4 employees
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from $12.50/month min. cost $25.00 $12.50 over 1 month |
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Accounting Software for Small Businesses to manage suppliers and multiple users
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from $20.00/month min. cost $40.00 $20.00 over 1 month |
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Accounting Software with project and inventory tracking for Small Businesses
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from $27.50/month min. cost $55.00 $27.50 over 1 month |
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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.
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The tools you need to make running your business easier.
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from $6.00/month min. cost |
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The tools you need to make running your business easier.
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from $10/month min. cost |
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The tools you need to make running your business easier.
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from $17.50/month min. cost |
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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?
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.
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.
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.
Here are the past winners from Canstar Blue’s accounting software ratings:
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