Xero vs MYOB Comparison 2026

Current plans, payroll, job costing and stock compared honestly, for Australian businesses with staff.

Xero vs MYOB accounting software comparison for Australian businesses

Which Accounting Software is Right for Your Business?

Short answer: both Xero and MYOB are solid choices for an Australian business, and for most businesses with staff the right one depends on how you run payroll, stock and jobs, and on which other systems need to connect to your accounts. Xero is often the simpler fit for service businesses and for businesses that connect a lot of apps. MYOB is often the stronger fit when you want payroll, stock and job tracking in one product.

We help businesses connect their other systems to Xero and MYOB, and move between them, so this guide sets out the current plans, the real differences and what to check before you choose. Plans and prices were checked on both vendors' Australian websites in October 2026.

View detailed comparison

Which One Suits You?

  • Xero often suits service businesses, businesses that buy or sell overseas, and businesses that want to plug in a lot of other apps.
  • MYOB often suits businesses that want payroll, stock and job tracking in one product, or whose team and bookkeeper already know MYOB well.
  • Builders and trades: either can work. Progress claims, retentions and WIP usually live in a job system, so pick the job system and check how it connects to your accounts.
  • Already on one and it works? Switching rarely fixes reporting on its own. Fixing how your other systems feed the accounts usually does more.
  • Bigger group, several companies or warehouses? Look at Xero Ultimate or MYOB AccountRight Premier, and also at MYOB Acumatica or NetSuite.

Plans and Prices (as at October 2026)

Each vendor's usual price in AUD, after any introductory offer, from xero.com/au and myob.com/au in October 2026. The plans don't line up one for one, so compare the plan that covers your payroll head count, stock and jobs. Check both sites before you buy.

Xero

  • Ignitefrom $37/month

    Up to 20 invoices, 5 bills, bank reconciliation, GST and BAS, payroll for 1 person.

  • Grow$78/month

    Adds bill automation, payroll for 2 people and dashboards.

  • Comprehensive$107/month

    Payroll for 5 people, other currencies, expenses for 5 users.

  • Ultimate 10 / 20 / 50$143 / $180 / $250 a month

    Payroll for 10, 20 or 50 people, plus Xero Projects. An Ultimate 100 plan is also listed.

MYOB Business

  • MYOB Business Lite$315/year

    For up to 2 employees. GST and BAS, basic stock, payroll as a per-employee add-on.

  • MYOB Business Pro$70/month

    Unlimited bank accounts, sales orders, payroll as a per-employee add-on.

  • MYOB Business AccountRight Plus$165/month

    Unlimited stock and payroll included, job budgets, billing by time.

  • MYOB Business AccountRight Premiersee MYOB's site

    Everything in Plus, plus other currencies, several locations and another business.

MYOB has said its payroll add-on pricing changes from 1 November 2026, so check the per-employee cost for Lite and Pro. For larger businesses, MYOB also sells MYOB Acumatica. For sole operators, MYOB sells Solo by MYOB (see the sole trader guide below).

Detailed Feature Comparison

FeatureXeroMYOB BusinessWhat it means for you
Plans (as at October 2026)Ignite, Grow, Comprehensive, Ultimate (10, 20, 50, 100)MYOB Business Lite, Pro, AccountRight Plus, AccountRight PremierBoth price by what you need: payroll head count in Xero, features and stock in MYOB
How you use itOnline, in a browser and phone appLite and Pro are online; AccountRight Plus and Premier also include Windows softwareMatters if staff prefer a desktop program, or work across several sites
Payroll and STPPayroll for 1 person on Ignite, 2 on Grow, 5 on Comprehensive, up to 100 on Ultimate; STP includedPer-employee add-on on Lite and Pro; included on AccountRight Plus; STP includedWork out the cost for your head count, and check awards, allowances and timesheets
Payday SuperAutomated super payments in payroll, with Payday Super guidanceSays payroll is updated in line with the ATO (a Pay Super setting)Test a pay run end to end, including how your timesheets get into payroll
Job and project trackingXero Projects on the Ultimate plansJob tracking on all MYOB Business plans; budgets per job and billing by time on Plus and PremierFine for simple jobs; complex jobs usually need a job system connected
Stock (inventory)Up to 4,000 tracked items, more through appsInventory on all MYOB Business plans; unlimited items and stocktakes on Plus; several locations on PremierParts lists, several warehouses or sales channels usually need a stock system
Other currenciesComprehensive and UltimateAccountRight Premier onlyCheck this early if you buy or sell overseas
Several companiesOne subscription per company (organisation)AccountRight Premier lets you add another businessNeither gives a combined group view on its own
Connecting other softwareLarge app marketplace and a widely used way for software to plug in (API)App marketplace and developer access for MYOB BusinessCheck that the apps you rely on connect properly before you choose

Xero: Strengths and Limits

Where Xero is strong

  • Fully online, with simple screens most people pick up quickly
  • A large marketplace of apps that connect to it
  • Plans scale by payroll head count, up to Ultimate 100
  • Other currencies from the Comprehensive plan
  • Xero Projects on the Ultimate plans for time and cost per project

Where Xero needs help

  • Stock is fairly basic; complex stock needs an add-on system
  • Projects only come with the Ultimate plans
  • No built-in way to hold back retentions on progress claims
  • Each company in a group needs its own subscription

MYOB: Strengths and Limits

Where MYOB is strong

  • Payroll, stock and job tracking in one product on AccountRight Plus
  • Job tracking on every MYOB Business plan, with job budgets on Plus and Premier
  • Unlimited payroll included on AccountRight Plus
  • Several stock locations, other currencies and another business on Premier
  • Desktop software as well as online on AccountRight Plus and Premier
  • A clear step up to MYOB Acumatica for larger businesses

Where MYOB needs help

  • Other currencies only on the top AccountRight Premier plan
  • Payroll costs extra per employee on Lite and Pro
  • Not built around progress claims, retentions or WIP reports either

Which Suits Your Type of Business?

Service businesses, 10 to 50 staff

Either; Xero is often the simpler fit
If you mainly bill time or fixed fees, Xero (with Projects on Ultimate, or a separate time and billing app) is straightforward. MYOB works well too, particularly if your bookkeeper already knows it.

Check first: How time gets from timesheets into invoices and payroll

Stock-holding businesses, 10 to 50 staff

Either, depending on your stock
MYOB AccountRight Plus keeps stock, payroll and job tracking together. Xero plus a stock system suits businesses with more complex stock, several warehouses or online sales.

Check first: Parts lists, locations, sales channels and how stock value matches the accounts

Builders, trades and project businesses

Either, with the right job system connected
Progress claims, retentions, variations and WIP usually live in a job system or a register. The accounts keep the invoices, bills, payroll and BAS. Choose the job system first, then check it connects well to the accounts you have.

Check first: Progress claims, retentions, committed costs and a monthly WIP report

Businesses with 50 to 200 staff

Xero Ultimate, MYOB AccountRight, or a larger system
Both can still work at this size if payroll and reporting are well set up. Groups with several companies, warehouses or currencies often look at MYOB Acumatica or NetSuite, or keep Xero or MYOB for the accounts and run operations in a separate system.

Check first: Group reporting, approvals, how many people need access, and payroll complexity

Xero or MYOB for Builders and Trades?

It depends, and both can work. The things a builder needs most from the numbers, such as progress claims, retentions, variations and a monthly WIP report (what each job has earned and cost so far), aren't what either product is built around. Xero has no built-in way to hold back retentions, and neither produces a WIP report on its own. MYOB AccountRight has job budgets; Xero has Projects on its Ultimate plans. Both are useful, but neither replaces a construction job system.

What works for most builders is a job system that handles claims, retentions and costs, connected so invoices, bills and payments flow into the accounts without being typed in twice. If you run MYOB today and it does the accounts well, moving to Xero won't fix job reporting on its own. Choose the job system first, then check how well it connects to the accounts you have.

Payroll, Stock and Groups of Companies

Payroll, STP and Payday Super

Both include Single Touch Payroll (STP) reporting to the ATO, and both say their payroll is ready for Payday Super, which started on 1 July 2026 and means super is paid at the same time as wages. The differences are in cost and set-up: Xero includes payroll for a set number of people on each plan, from 1 person on Ignite, while MYOB charges per employee on Lite and Pro and includes payroll on AccountRight Plus. For a business with awards, allowances and timesheets from a job or rostering system, the harder part is usually getting hours into payroll correctly. See our Payday Super checklist for Xero and MYOB.

Stock and manufacturing

For simple stock, either works. Once you build products from parts, hold stock in several places or sell through several channels, most businesses run a dedicated stock or production system and keep Xero or MYOB for the accounts. The thing to get right is that stock value in that system matches the balance sheet. See manufacturing costing with Xero or MYOB.

Several companies

Xero treats each company as its own subscription; MYOB AccountRight Premier lets you add another business. Neither gives you one combined view of the group, so groups usually add consolidation reporting on top (see multi-entity reporting with Xero or MYOB) or move up to a larger system (see outgrowing Xero or MYOB AccountRight).

Sole Trader?

This comparison is written for businesses with staff, stock or several bank accounts. If it's just you, the decision is simpler. MYOB still sells Solo by MYOB (a phone app for sole operators) alongside MYOB Business Lite, and Xero's entry plan is Ignite. We compare the options for sole traders in a separate guide.

MYOB vs Xero for Sole Traders

What Switching Involves

Moving between Xero and MYOB is a well-worn path either way. The effort depends on how many years of history you bring, how many company files, payroll, and how many other systems connect to your accounts.

From MYOB to Xero

What to plan for:
  • How many years of history to bring across
  • Tidying up the chart of accounts and tracking categories
  • Moving payroll at a clean point, such as the start of a quarter
  • Reconnecting the apps and job or stock systems you rely on
  • Checking opening balances match on day one
How we handle from MYOB to Xero

From Xero to MYOB

What to plan for:
  • Choosing the right MYOB Business plan for payroll and stock
  • Setting up jobs, stock items and payroll categories
  • Moving payroll at a clean point, such as the start of a quarter
  • Rebuilding reports and connected apps
  • Checking opening balances match on day one
How we handle from Xero to MYOB

Comparing conversion tools? See Jet Convert vs MMC Convert, or our wider accounting data migration service. Every move is scoped and given a fixed quote after a free initial chat.

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Frequently Asked Questions

Neither is better for every business. Xero tends to suit service businesses and businesses that want to connect a lot of other apps. MYOB tends to suit businesses that want payroll, stock and job tracking in one product, especially on AccountRight Plus or Premier. For a growing business, the bigger question is usually what sits around the accounts: your job, stock or payroll system, and how well it shares figures with the accounts.

As at October 2026, Xero lists Ignite from $37/month, Grow $78/month, Comprehensive $107/month, and Ultimate from $143/month (Ultimate 10) up to $250/month (Ultimate 50), with a larger Ultimate 100 plan. MYOB lists MYOB Business Lite at $315/year, MYOB Business Pro at $70/month and MYOB Business AccountRight Plus at $165/month, with AccountRight Premier above that. These are the usual prices after introductory offers. Check both websites before you buy, as prices and plans change.

Both include Single Touch Payroll (STP) reporting to the ATO, and both say their payroll has been updated for Payday Super, which started on 1 July 2026 and means super has to be paid at the same time as wages. In Xero, the number of people you can pay depends on the plan (Ignite covers 1, Grow 2, Comprehensive 5, Ultimate 10 to 50 or more). In MYOB, payroll is an add-on charged per employee on Lite and Pro, and included on AccountRight Plus. MYOB has said its payroll pricing changes from 1 November 2026. Our Payday Super checklist covers what to check in each.

It depends on how you run your jobs, and both can work. Neither Xero nor MYOB is built around progress claims, retentions or a WIP report (a work-in-progress report showing what each job has earned and cost so far). Most builders run those in a construction job system or a register, then connect it so invoices, costs and payments flow into the accounts. If you already run MYOB and it works, switching to Xero on its own will not fix job reporting. Getting your job system and accounts to share the numbers usually matters more.

Both can track jobs. Xero Projects comes with the Ultimate plans and tracks time, costs and profit per project. MYOB Lite and Pro track each job's progress, profit and loss and expenses, and AccountRight Plus and Premier add budgets per job and billing by time. If you need committed costs (orders and subcontracts you have agreed but not yet been billed for), cost-to-complete or detailed labour costing, most businesses use a job or project system alongside either one.

For simple stock, both work. Xero says it manages up to 4,000 finished items natively, with more through apps in the Xero App Store. MYOB includes inventory on Lite and Pro, with unlimited inventory as an add-on, and AccountRight Plus adds stocktakes and unlimited items, with multiple locations on Premier. If you build products from parts, hold stock in several warehouses or sell through several channels, you will usually need a dedicated stock system connected to either.

Both can, in different ways. In Xero, each company is its own organisation with its own subscription. MYOB AccountRight Premier lets you add another business. Neither gives you a combined view across a group of companies on its own, so groups usually add consolidation reporting on top. Larger groups often look at MYOB Acumatica or NetSuite.

It is a well-worn path both ways, but the effort depends on how many years of history you bring across, how many company files are involved, payroll, and how many other systems connect to the accounts. The data move is usually the easy part. Rebuilding the connections to your other systems and checking the balances match on day one take the care. We scope every move and give a fixed quote after a free initial chat.

Yes. As at October 2026, MYOB still sells Solo by MYOB, a phone app for sole operators covering invoicing, expenses, GST and Tap to Pay. MYOB notes that once you choose Solo you cannot move it to another plan later. It is not designed for businesses with staff. Our separate guide compares MYOB and Xero for sole traders.

Need Help Choosing or Switching?

Whether you're staying put and want your other systems to share figures with Xero or MYOB automatically, or you've decided to switch, book a free chat. We'll reply within one business day, and any work is scoped and given a fixed quote first.

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