Small Business Accounting Software Australia Comparison (2024)

Choosing the best accounting software for your Australian small business is one of the most important decisions you'll make. The right software saves hours each week, keeps you ATO-compliant, and gives you real insight into your finances.

This guide compares the four most popular options — Xero, MYOB, QuickBooks Online, and Finsori — across pricing, features, and AU-specific compliance.

Quick Comparison Table

| Feature | Finsori | Xero | MYOB | QuickBooks | |---------|-----------|------|------|------------| | BAS lodgment (SBR) | ✅ Direct | ✅ | ✅ | ✅ | | STP Phase 2 | ✅ Built-in | ✅ | ✅ | ✅ | | Superannuation | ✅ Included | ✅ | ⚠️ | ✅ | | Multi-currency | ✅ All plans | ⚠️ Premium | ⚠️ | ⚠️ | | Per-user fees | ✅ None | ❌ | ❌ | ❌ | | Mobile app | ✅ PWA | ✅ | ✅ | ✅ | | AU-specific focus | ✅ High | ⚠️ Medium | ✅ High | ⚠️ Low | | Starting price (AUD/mo) | $19 | $32 | $27 | $30 |

Detailed Product Reviews

Finsori

Best for: AU/NZ small businesses wanting modern, affordable, AU-native accounting.

Finsori was built specifically for Australian and New Zealand businesses. It includes GST, BAS, STP Phase 2, and superannuation at every plan level — no add-ons required.

Pricing: AUD $19–$69/month (all inclusive) Standout feature: No per-user fees. Invite your accountant, bookkeeper, and business partner without paying more.

Xero

Best for: Businesses needing a large third-party ecosystem, or whose accountant specifically uses Xero.

Xero is the market leader in Australia with the largest ecosystem of add-ons and the most accountants trained on it. It's a powerful product, but pricing has risen significantly and some common features require higher-tier plans.

Pricing: AUD $32–$97/month Standout feature: Massive ecosystem — over 1,000 integrations Downside: Per-user fees, payroll is add-on on lower tiers

MYOB

Best for: Businesses with traditional accountants who prefer MYOB, or those already invested in MYOB's ecosystem.

MYOB has the longest history of any accounting software in Australia. It's reliable and widely understood by accountants, but the UI feels dated compared to newer products.

Pricing: AUD $27–$110/month Standout feature: Wide accountant adoption, strong AU compliance history Downside: Learning curve, older interface, add-on costs for some features

QuickBooks Online Australia

Best for: Businesses whose bookkeeper specifically uses QuickBooks.

QuickBooks is the global leader but is less popular in Australia. The AU version supports BAS and STP, but it's primarily built for the US market and some features don't translate perfectly to AU tax requirements.

Pricing: AUD $30–$175/month Standout feature: Strong international integration Downside: Less AU-native, expensive top-tier pricing, some features require US workarounds

Pricing Comparison

| Plan | Finsori | Xero | MYOB | QuickBooks | |------|-----------|------|------|------------| | Starter | $19 | $32 | $27 | $30 | | Mid-tier | $39 | $65 | $60 | $90 | | Full | $69 | $97 | $110 | $175 |

All prices in AUD per month. Xero/MYOB payroll and some integrations cost extra.

AU-Specific Compliance Features

| Compliance feature | Finsori | Xero | MYOB | QuickBooks | |-------------------|-----------|------|------|------------| | BAS (SBR lodgment) | ✅ | ✅ | ✅ | ✅ | | TPAR (taxable payments) | ✅ | ✅ | ✅ | ✅ | | Fuel tax credits | ✅ | ⚠️ | ✅ | ❌ | | STP Phase 2 | ✅ | ✅ | ✅ | ✅ | | Super guarantee 11.5% | ✅ | ✅ | ✅ | ✅ | | ATO pre-fill integration | ✅ | ✅ | ✅ | ⚠️ |

Which Should You Choose?

New business, want simplicity: Finsori. Flat pricing, all AU features included, set up in under an hour.

Large business, complex needs: Xero. Best ecosystem, most integrations, widest accountant support.

Traditional industry, established accountant: MYOB. If your accountant lives in MYOB, switching has real switching costs.

Global business with AU entity: QuickBooks. Best for businesses primarily operating internationally with an AU presence.

Try Before You Buy

All four products offer free trials:

• Finsori: 30-day free trial, no credit card
• Xero: 30-day free trial
• MYOB: 30-day free trial
• QuickBooks: 30-day free trial

The best accounting software is the one you'll actually use consistently. Start a trial and see which feels most intuitive for your workflow.

Frequently Asked Questions

Which accounting software do most Australian accountants use? Xero has the highest adoption among AU accountants, followed by MYOB. If your accountant strongly prefers one product, that may tip the decision.

Is cloud accounting software secure? Yes. All four products use bank-level encryption and are audited regularly. Your data is safer in the cloud than in a local file that could be lost or corrupted.

Can I switch software mid-year? Yes. It's cleanest to switch at financial year end, but mid-year switches are possible. Most software supports import of chart of accounts, contacts, and recent transactions.

Do I need accounting software or can I use spreadsheets? Spreadsheets work for very simple businesses with few transactions. Once you have employees, GST, or more than a few dozen transactions per month, accounting software pays for itself in time saved.

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Also see: How to Lodge a BAS in Australia · Xero Alternative Australia