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Most Popular Australian Accounting Software Packages Compared Side by Side

MYOB vs Xero vs Quickbooks vs Reckon vs Saasu

When choosing an accounting software package for your business there’s a lot of research involved – you’ll need to visit each supplier website and go through their pricing and features in depth to make sure their offering suits your needs.

But it’s also handy to have a quick overview where you can see all the accounting software packages side-by-side and compare their features at a simple level, so we’ve done our best to create a simple overview below.

Some things to keep in mind when reviewing the below comparison table:

  1. Each supplier offers different levels of service for different payment plans. To keep things on an even keel (as much as possible) we’re comparing the price plan for each supplier that falls into the $20-40 price bracket
  2. Where there is an asterisk (*) next to a ‘No’ it means the feature isn’t available at this price level, but it is available under a higher price plan or with paid add-on functions.
  MYOB Xero Quickbooks Reckon Saasu
Plan we’re comparing Essentials Starter Essentials Basic with all Add-ons Medium
Cost per month $35 $25 $25 $20 $40
Multiple users permitted Yes Yes Yes† Yes Yes
Cloud-based Yes Yes Yes Yes Yes
Quoting Yes Yes Yes Yes Yes†
Invoicing Yes Yes Yes Yes Yes†
Online Payments Coming soon Yes No* Yes Yes
Inventory Yes† Yes No* Yes Yes†
Expenses Yes Yes Yes Yes Yes
Bank Feed Yes Yes Yes Yes Yes
Multi-Currency No* No* No* Yes Yes
Calculate & Track GST Yes Yes Yes Yes Yes
Payroll Yes† Yes† Yes† Yes Yes†
Payroll for how many staff? 1 1 10 Unlimited 20
Leave calculation Yes Yes Yes Yes Yes
Timesheets Yes† No* No* Yes Yes†
Mobile Access Yes Yes Yes Yes Yes
More add-ons available Yes Yes Yes Yes Yes
Integration and support of third party add-ons Yes Yes Yes Yes Yes

* No functionality in this area – but there is on a higher plan

† Some functionality in this area – more on higher plan

Which accounting software is best?

While the above table gives a snapshot of the availability of some key features, it doesn’t give an in-depth look at the full functionality level in each of these areas, and importantly, how that matches up to your business’ needs.

It must be said, however, that MYOB is often seen as the strongest contender in the game. MYOB is a long established world leader in the ERP market – they’re not a new or start-up business so you can rely on their longevity and stability as a provider for your business.

MYOB also has a strong network of trusted, authorised, local partners and third party MYOB developers (like us here at Horizon Business Systems!) who can offer local support and training and help you design custom add-ons specific to your business needs.

If you’d like to find out more about how MYOB can help your business, don’t hesitate to get in touch with us today!