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.
Annual saving with Xero over MYOB
More app integrations (1,000+ vs 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
| Feature | Xero Starter | MYOB Essentials | Winner | Notes |
|---|---|---|---|---|
| Monthly Cost | $25/month (Starter) | $35/month (Essentials) | Xero | Save $120/year |
| Invoicing | 20 invoices/month | Unlimited | MYOB | Only matters if you invoice 20+ times/month |
| Bank Feeds | 200+ AU banks, auto-matching | 100+ banks | Xero | Better bank coverage and smarter matching |
| GST Tracking | Automatic GST calculation | Automatic GST calculation | Tie | Both handle GST well |
| BAS Reporting | BAS-ready reports | BAS-ready reports | Tie | Both generate ATO-compliant BAS reports |
| Receipt Capture | OCR mobile scanning | Basic upload | Xero | Xero auto-reads receipt data |
| Mobile App | Full-featured iOS/Android | Limited functionality | Xero | Invoice, reconcile, and track on-the-go |
| Accountant Access | Free advisor login | Free advisor login | Tie | Both offer free access for your accountant |
| Interface | Modern, intuitive | More complex | Xero | Less time doing bookkeeping |
| Mileage Tracking | Via add-on apps | Not built-in | Xero | Xero marketplace has mileage apps |
| Multi-Currency | Standard plan+ ($50/mo) | Limited | Xero | Only relevant if you invoice overseas |
| App Integrations | 1,000+ apps | 200+ apps | Xero | More 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
Low invoice volume, need receipt tracking and time tracking apps. Save $120/year over MYOB.
Tradesperson
Electrician, plumber, carpenter, painter
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
Better e-commerce integrations. Move to Standard ($50/mo) if you need multi-currency for international sales.
Rideshare / Delivery Driver
Uber, DoorDash, Menulog
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)
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
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
- Sign up for a free 30-day trial at xero.com
- Connect your business bank account via bank feeds
- Set up your chart of accounts (Xero provides a sole trader template)
- Create your first invoice template with your ABN and business details
- Invite your accountant/bookkeeper via free advisor access
- 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
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.