Summary Comparison: Xero, QuickBooks & MYOB

Choosing the right accounting software matters. Below is our summary comparison of three leading packages — Xero, QuickBooks and MYOB — based on hands-on testing, user feedback and feature analysis.

How They Compare

• Page loading speed: Xero leads; QuickBooks and MYOB are good.
• Reporting: Xero excels overall; QuickBooks is good with strong payroll reporting; MYOB is good.
• Payroll: Xero makes payroll very easy; QuickBooks and MYOB can be trickier.
• Setting up employees: Xero is very easy; QuickBooks and MYOB are more challenging.
• STP lodgement: Xero is very easy; QuickBooks is easy; MYOB can be tricky.
• Bug-free experience: Xero is excellent; QuickBooks is not great; MYOB is OK.
• Visual appearance: Xero is excellent; QuickBooks and MYOB are OK.
• Speed of entry: QuickBooks and Xero are fast; MYOB is slow.
• Inventory management: All three support inventory and third-party app integrations.
• Account grouping: QuickBooks is excellent; Xero and MYOB are OK.
• Invoicing: Xero excels thanks to a very clean layout; QuickBooks and MYOB are OK.
• Ease of use: Xero is excellent; QuickBooks and MYOB are OK.
• Cost: QuickBooks is the cheapest; Xero is costlier; MYOB is the most expensive.

Our Verdict

Based on the overall evaluation, we rank Xero first, followed by QuickBooks second and MYOB third. Ratings and comparisons are subject to change as the software evolves, and individual experiences may vary — it's always advisable to consult a professional or take advantage of free trials to find the best fit for your needs.

Xero vs QuickBooks vs MYOB — at a glance

General comparison based on hands-on use; the right fit depends on your business. Ace Biz works with all three — talk to us for a recommendation.