MYOB vs QuickBooks Comparison 2026
Which one suits a business like yours? A plain-English guide for Australian businesses.
MYOB or QuickBooks: Which One Fits Your Business?
Short answer: if you're a sole trader or a very small business on a tight budget with simple needs, QuickBooks is cheaper and easier to use. If you have staff on awards, carry stock, or expect to grow, MYOB handles Australian payroll, tax and stock in more depth. MYOB has been part of Australian accounting for over 30 years; QuickBooks (owned by Intuit) is huge worldwide but far less used here. We don't sell either product.
Also worth a look: if you're choosing between these two in Australia, consider Xero as well, as it's very widely used here.
Which One Suits You?
- Choose QuickBooks if you're a sole trader or a very small business on a tight budget with simple needs. It is cheaper and easier to use.
- Choose MYOB if you have staff on awards, carry stock, or expect to grow. It handles Australian payroll, tax and stock in more depth.
- Your parent company overseas already uses QuickBooks? Staying on it makes combining the group's accounts simpler.
- Also worth a look: Xero, as it's very widely used in Australia.
Important Context: QuickBooks in Australia
Before you compare features and prices, it helps to know where QuickBooks stands in Australia
Most Australian small businesses use Xero or MYOB. QuickBooks is hugely popular in the United States and elsewhere, but far fewer businesses use it here. Intuit has entered and left the Australian market before, which left local businesses and accountants unsure about it.
This matters for a few practical reasons:
- Accountant familiarity: Most Australian accountants and BAS agents are trained on Xero or MYOB. Finding an accountant who knows QuickBooks well can be harder.
- Local apps: Australian add-ons (industry tools, payroll services, checkout or POS systems) usually connect to Xero and MYOB first.
- Community and support: The local user community and peer support networks for QuickBooks are smaller than for MYOB or Xero.
None of this means QuickBooks is a bad product. It is capable software at a good price, but these points are worth weighing up.
Cost Comparison
QuickBooks is clearly cheaper: $360-$1,080 less per year
Entry Level
Mid Tier
Top Tier
Detailed Feature Comparison
| Feature | MYOB | QuickBooks | Winner | Explanation |
|---|---|---|---|---|
| Monthly Cost | $45-$150/month | $15-$60/month | QuickBooks | QuickBooks is much cheaper on every plan |
| Bank Feeds | 100+ Australian banks & institutions | 80+ Australian banks supported | MYOB | Covers more Australian banks, with more reliable local feeds |
| Ease of Use | Does the job online, but busier and more cluttered | Clean, modern screens built for online use | QuickBooks | QuickBooks is easier to find your way around |
| Payroll | Full payroll that works out award pay & meets STP Phase 2 | Basic payroll that meets STP, for simpler needs | MYOB | Much better at Australian award pay conditions |
| Stock Management | Advanced stock, including bill of materials (parts lists) | Solid stock tracking with reorder points | MYOB | Better if your stock is complicated |
| Reporting | 160+ standard reports you can customise a lot | 80+ reports with clear visual dashboards | MYOB | More reports, and more ways to change them |
| GST & BAS | Full GST tracking, BAS preparation & lodgement | Works out GST and produces the BAS report | MYOB | More of the Australian tax rules built in |
| Multi-currency | Other currencies on higher plans | Other currencies on Plus and Advanced plans | Tie | Both handle other currencies (multi-currency), but only on dearer plans |
| Mobile App | Phone app that handles invoicing & expenses | Well-designed phone app that captures receipts | QuickBooks | Smoother on the phone, with better receipt scanning |
| Integrations | 200+ connecting apps, mostly Australian | 750+ connecting apps worldwide (fewer Australian) | Tie | QuickBooks has more apps in total, but MYOB has better Australian options |
| Learning Curve | Harder - more training needed to use it fully | Moderate - quicker to get comfortable | QuickBooks | Easier to pick up, especially for non-accountants |
| Australian Support | Phone & chat support, many Australian advisers who know it | Phone & chat support, fewer Australian users | MYOB | More local help, and more accountants trained on MYOB |
MYOB Pros & Cons
MYOB Advantages
- Handles Australian tax rules in depth (GST, BAS, STP Phase 2)
- Full payroll that works out award pay
- Advanced stock management with bill of materials (parts lists)
- Lots of reports built in (160+ reports)
- Large network of MYOB-certified accountants in Australia
- Good job costing and project tracking
- Long-established Australian business (30+ years)
- Better for complicated business structures
- Thorough budgeting and forecasting tools
- Handles several companies well on higher plans
MYOB Limitations
- Costs much more each month than QuickBooks
- Takes longer to learn than QuickBooks
- Screens feel dated next to newer online software
- Slower to add new online features
- Support response times can be inconsistent
- Setup process can be complex without professional help
QuickBooks Pros & Cons
QuickBooks Advantages
- Most affordable accounting software option in Australia
- Clean, simple screens that are easy to learn
- Strong receipt capture and expense tracking
- Good visual dashboards and reporting
- Backed by Intuit (large global company)
- Good phone app
- Simple setup process for basic needs
- Familiar to businesses coming from overseas
QuickBooks Limitations
- Far fewer Australian users than Xero and MYOB
- Fewer Australian accountants and bookkeepers trained on QuickBooks
- Payroll copes less well with complicated Australian award conditions
- Fewer Australian apps and add-ons that connect to it
- Limited local partner and support network
- Intuit has previously entered and exited the Australian market
- Basic stock features next to MYOB for complicated needs
- Australian bank feeds are less established
Which is Best for Your Business Size?
Micro Business (1-3 people)
Key needs: Basic invoicing, expense tracking, simple GST reporting
Small Business (4-15 employees)
Key needs: Payroll, bank reconciliation, BAS preparation, basic stock
Medium Business (15-50 employees)
Key needs: Advanced payroll, detailed reporting, job costing, budgeting
Large Business (50+ employees)
Key needs: Several companies, advanced compliance, complex reporting, connections to other software
Sole Trader / Freelancer
Key needs: Invoicing, mileage tracking, receipt capture, basic reporting
Businesses with Overseas HQ
Key needs: Other currencies, the same reports across countries, overseas transactions
Recommendations by Industry
Construction & Trades
Better job costing, progress billing, and contractor management
Retail
MYOB for lots of stock; QuickBooks for small retail with basic stock
Professional Services
Both handle billing by time well enough; choose on budget
Manufacturing
Better parts lists (bill of materials), stock and production tracking
Hospitality
Lower cost, with good-enough links to checkout (POS) systems for cafes and restaurants
E-commerce
Good Shopify/WooCommerce connections at a lower price
What Switching Involves
From MYOB to QuickBooks
What to plan for:
- Export chart of accounts, contacts, and open invoices from MYOB
- Verify GST codes and tax settings map correctly
- Reconnect bank feeds with Australian banks
- Re-create payroll setup (awards, leave, super funds)
- Train staff on the new screens
From QuickBooks to MYOB
What to plan for:
- Map QuickBooks categories to MYOB chart of accounts
- Bring across past transactions
- Set up MYOB payroll with award interpretation
- Set up advanced stock features if needed
- Longer training, as MYOB is more complicated
Frequently Asked Questions
Need Help Choosing or Switching?
We help Australian businesses compare accounting software, choose the right one and move their data across. Whether you're weighing up MYOB, QuickBooks, Xero or something else, we give straight advice based on what your business actually needs, and we earn no sales commissions.