MYOB Solo Is Discontinued — Here's What to Use Instead

If you're a sole trader in Australia looking for accounting software, you may have heard of MYOB Solo — a simplified, affordable product designed specifically for sole traders. It no longer exists. MYOB discontinued Solo and now starts at Essentials ($35/month), a product designed for small businesses with employees.

For most sole traders, Xero Starter at $25/month is now the best option. It's simpler, cheaper, and designed for exactly the workload a sole trader handles: sending invoices, reconciling bank transactions, tracking GST, and generating BAS reports.

$120

Annual saving with Xero over MYOB

5x

More app integrations (1,000+ vs 200+)

200+

Australian banks connected via bank feeds

The only exception: if you consistently send more than 20 invoices per month, MYOB Essentials' unlimited invoicing may be worth the extra $10/month. For everyone else, Xero Starter is the clear winner.

Feature-by-Feature Comparison for Sole Traders

FeatureXero StarterMYOB EssentialsWinnerNotes
Monthly Cost$25/month (Starter)$35/month (Essentials)XeroSave $120/year
Invoicing20 invoices/monthUnlimitedMYOBOnly matters if you invoice 20+ times/month
Bank Feeds200+ AU banks, auto-matching100+ banksXeroBetter bank coverage and smarter matching
GST TrackingAutomatic GST calculationAutomatic GST calculationTieBoth handle GST well
BAS ReportingBAS-ready reportsBAS-ready reportsTieBoth generate ATO-compliant BAS reports
Receipt CaptureOCR mobile scanningBasic uploadXeroXero auto-reads receipt data
Mobile AppFull-featured iOS/AndroidLimited functionalityXeroInvoice, reconcile, and track on-the-go
Accountant AccessFree advisor loginFree advisor loginTieBoth offer free access for your accountant
InterfaceModern, intuitiveMore complexXeroLess time doing bookkeeping
Mileage TrackingVia add-on appsNot built-inXeroXero marketplace has mileage apps
Multi-CurrencyStandard plan+ ($50/mo)LimitedXeroOnly relevant if you invoice overseas
App Integrations1,000+ apps200+ appsXeroMore options for time tracking, payments, etc.

Score: Xero 7 — MYOB 1 — Tie 4 | Xero wins on price, interface, mobile, bank feeds, receipt capture, and integrations. MYOB wins only on unlimited invoicing.

Which Type of Sole Trader Are You?

Freelancer / Consultant

IT consultant, graphic designer, copywriter, marketing consultant

Xero Starter

Low invoice volume, need receipt tracking and time tracking apps. Save $120/year over MYOB.

Tradesperson

Electrician, plumber, carpenter, painter

Xero Starter

Great mobile app for quoting and invoicing on-site. Better integration with trade apps like Fergus, ServiceM8.

Online Seller

Etsy seller, eBay seller, Shopify store

Xero Starter or Standard

Better e-commerce integrations. Move to Standard ($50/mo) if you need multi-currency for international sales.

Rideshare / Delivery Driver

Uber, DoorDash, Menulog

Xero Starter

Receipt capture for fuel and car expenses. Simple GST tracking for 1/11th claims. Cheaper than MYOB.

High-Volume Invoicer

Cleaning business, lawn mowing, dog walking (20+ clients/month)

MYOB Essentials

If you consistently send more than 20 invoices per month, MYOB's unlimited invoicing avoids the Xero Starter cap.

Property Investor (Sole Trader)

Rental properties, short-term rental host

Xero Starter

Bank feeds for rental income tracking, easy categorisation of expenses, and straightforward BAS reporting.

Setting Up as a Sole Trader — Quick Checklist

Before You Start

  • Register for an ABN at abr.gov.au (free, instant)
  • Register for GST if your annual turnover exceeds $75,000 (or you expect it to)
  • Open a separate business bank account (keeps things clean for BAS)

Setting Up Xero Starter

  1. Sign up for a free 30-day trial at xero.com
  2. Connect your business bank account via bank feeds
  3. Set up your chart of accounts (Xero provides a sole trader template)
  4. Create your first invoice template with your ABN and business details
  5. Invite your accountant/bookkeeper via free advisor access
  6. Download the Xero mobile app for receipt capture

Ongoing (15 mins/week)

  • Reconcile bank transactions weekly (5 mins with bank feeds)
  • Capture receipts as you get them via the mobile app
  • Send invoices as work is completed
  • Run BAS report quarterly and lodge via your accountant or myGov

Frequently Asked Questions

Xero is generally better. The Starter plan ($25/mo) covers everything most sole traders need. MYOB's cheapest plan (Essentials at $35/mo) includes features most sole traders don't use. Xero saves $120/year and has a simpler interface.

MYOB Solo was a simplified product for sole traders but has been discontinued. MYOB now starts at Essentials ($35/mo). Xero Starter ($25/mo) is the closest replacement in terms of simplicity and pricing.

Xero Starter costs $25/month ($300/year). It includes 20 invoices/month, bank feeds with 200+ Australian banks, GST tracking, BAS reports, receipt capture, and free advisor access for your accountant.

MYOB Essentials costs $35/month ($420/year). This includes unlimited invoicing, bank feeds, GST tracking, and basic reporting. You pay $120/year more than Xero Starter for features like multi-user access that sole traders rarely use.

No. MYOB Solo was a separate, simpler product at a lower price point that has been discontinued. MYOB Essentials ($35/mo) is more full-featured and designed for small businesses with employees.

Yes. Both Xero and MYOB offer free advisor access. Your accountant can log in at no extra cost to do your BAS, review transactions, and prepare tax returns.

You're legally required to keep records for the ATO. Accounting software like Xero makes this much easier: automatic bank feeds, automatic GST calculation, and one-click BAS reports. At $25/month, the time savings justify the cost for most sole traders.

Xero has significantly better mobile apps. Create invoices, capture receipts with OCR, reconcile bank transactions, and check cash flow — all from your phone. MYOB's mobile app has more limited functionality.

Both help you track common deductions: home office, vehicle/mileage, tools, internet/phone, professional development, and travel. Xero makes it easier to categorise expenses with bank feed rules and receipt capture. Always check with an accountant about specific deductions.

Yes. Both generate BAS-ready reports showing GST collected, GST paid, and net amount. You can lodge yourself via myGov Business Portal or have your accountant lodge for you. If your affairs are simple, self-lodging is straightforward with either platform.

Xero handles this better through integrations with apps like Driversnote, MileIQ, and Triplog that automatically track business mileage using GPS and calculate ATO deductions. MYOB has basic vehicle tracking but lacks the same automatic mileage integration.

Xero is significantly better. It integrates with Shopify, WooCommerce, Etsy, eBay, and Amazon via apps like A2X and Synder. These automatically sync sales, fees, and payouts. MYOB has fewer e-commerce integrations and less reliable sync.

Most sole traders never need to upgrade. Upgrade to Standard ($50/mo) if you send 20+ invoices monthly, invoice internationally, or need expense claims with approvals. If you work with Australian clients and send fewer than 20 invoices, Starter is perfect.

Yes, but the cleanest time is at the start of a BAS quarter (1 July, 1 October, 1 January, 1 April). This avoids splitting quarterly GST across two systems. Professional migration for sole traders costs $800-$2,500 depending on complexity.

Xero scales better. Add Xero Payroll for $13/month plus $4.50 per employee for STP, super, and leave. MYOB requires upgrading to Plus ($65/mo). Xero gives you more flexibility to add features incrementally without expensive tier jumps.

Upgrade to Xero Standard ($50/mo) for unlimited invoicing, or choose MYOB Essentials ($35/mo) which includes unlimited invoicing. MYOB Essentials is $15/month cheaper if you only need basic features and high invoice volume.

Related Comparisons & Resources

Xero vs MYOB (Full Guide)

Complete comparison for all business sizes

MYOB vs QuickBooks

Another popular alternative for sole traders

MYOB to Xero Migration

Need help switching from MYOB to Xero?

All Comparisons

Browse all software comparison guides

Need Help Getting Set Up?

We help sole traders and small businesses across Australia get their accounting software set up properly from day one — so you spend less time on bookkeeping and more time on your business.

Get Free Setup AdviceFull Xero vs MYOB Guide