Choosing The Right Accounting Software: Xero Vs MYOB Vs Quickbooks

Selecting the right accounting software is one of the most important decisions a business can make. Regardless of your business size and journey, your choice of platform impacts everything from daily operations to long-term financial strategy. At Bentleys, we help clients navigate this decision by comparing the three most popular platforms in Australia: Xero, MYOB, and QuickBooks.

Overview: what these platforms offer

All three platforms—Xero, MYOB, and QuickBooks—are cloud-based, offer mobile access, and support core functions like invoicing, payroll, bank reconciliation, and BAS lodgement. But each has its own strengths and ideal use cases.

Xero: streamlined and scalable

Xero is a favourite among startups and SMEs for its intuitive interface and powerful automation. It’s entirely cloud-based, meaning you can access your financials from anywhere. Features like automatic bank feeds, real-time reporting, and seamless app integrations make it ideal for businesses that value flexibility and scalability.

Strengths:

• • • Unlimited users on all plans
    • Excellent for remote teams and multi-location businesses
    • Strong integration ecosystem (CRM, POS, project management)
    • STP-compliant payroll and superannuation automation 

Considerations:

• • • Limited phone support
    • Higher cost for advanced features

Bentleys clients using Xero often cite its ease of use and real-time insights as key benefits. Our recent advisory session with Xero demonstrated how features in “blue Xero” can streamline processing and improve confidence in financial workflows.

MYOB: feature-rich and familiar

MYOB has been a trusted name in the Australian accounting industry for many years. It offers both cloud-based (MYOB Business) and desktop (AccountRight) versions, catering to a wide range of business sizes and industries. Its industry-specific versions, such as those for retail and construction, provide a sense of security and cater to specific needs.

Strengths:

• • • Strong payroll and inventory management
    • Industry-specific versions (e.g., retail, construction)
    • Advanced reporting and analytics
    • Document and billing portal features for compliance-heavy sectors 

Considerations:

• • • Steeper learning curve for AccountRight
    • Fewer integrations compared to Xero

MYOB’s new Client Accounting module uses AI-assisted account mapping and standardised templates to reduce manual work and improve compliance workflows.

Bentleys teams have used MYOB Accounting Plus for insolvency administration setups, demonstrating its depth in specialised use cases.

QuickBooks: automation and reporting powerhouse

QuickBooks is renowned for its robust reporting and automation features, making it a popular choice among service-based businesses and sole traders who want to reduce administrative time. These features empower users to be more efficient in their day-to-day operations.

Strengths:

• • • Excellent invoicing and payment tracking
    • AI-powered automation for BAS and tax workflows 
    • Strong mobile app and dashboard customisation
    • Tailored guides and checklists for EOFY preparation 

Considerations:

• • • User limit (max 25 on advanced plan)
    • Some features require higher-tier plans

QuickBooks’ recent updates include Intuit Assist and other AI tools that enhance workflow efficiency and reduce manual errors.

Bentleys clients attending the QuickBooks Roadshow found the platform’s automation and integration capabilities particularly useful for streamlining BAS and tax lodgements.

How to choose: key questions to ask

When helping clients choose the right software, Bentleys recommends considering:

• • • Business size and complexity: Do you require advanced features such as inventory management or multi-entity reporting?
    • Team structure: Will multiple users need access? Do you work remotely?
    • Industry requirements: Are there compliance or reporting needs specific to your sector?
    • Budget: What’s your tolerance for monthly subscription costs?

Bentleys can help you decide

At Bentleys, we understand that choosing accounting software is not just about features, but about finding the right fit for your business. Our experts can help you assess your needs and select the platform that aligns with your business goals. We also provide assistance with setup, training, and ongoing support to ensure a seamless transition.