Xero, MYOB, QuickBooks or Reckon, which one suits your business

We work in all four. We have no preference we are paid to have, which puts us in an unusually honest position to answer this.

Start with the business, not the software

The right question is never "which is best". It is "what does this business actually need to do". A sole trader with one bank account and forty invoices a year needs almost nothing. A company with eight staff on an award, three entities and stock needs quite a lot. Paying for the second one when you are the first is money out the door every month for features you will never open.

The rough shape of each

Xero

The most widely used in Australian small business, and the one most accountants are fastest in. Clean to look at, strong bank feeds, a large ecosystem of add on programs. Pricing has crept up over the years and it is not always the cheapest answer for a very small operator.

MYOB

Long history in Australia and deep payroll capability. Many established businesses have a decade of history in it and there is often no good reason to move. If someone tells you that you must leave MYOB, ask them why, and see whether the answer is about your business or about their preference.

QuickBooks Online

Often the most competitive on price, capable, and perfectly sufficient for a great many small businesses. We hold ProAdvisor certification for it. Worth a serious look if cost is a real constraint.

Reckon

Still a sensible fit for particular business types, especially where an existing desktop file and long history are involved.

What actually decides it

• How many employees, and how complicated their award is
• How many bank accounts and cards need reconciling
• Whether you need job costing, stock, or a trade specific add on
• Whether your accountant works in it fluently
• What the monthly cost is against what you will really use

Switching is not as bad as you fear

Moving software properly means converting the file, bringing history and opening balances across, and reconciling the new file back to the old one so that nothing quietly disappears. Done well it is a couple of weeks of our work and a very small amount of yours. Done badly it is two years of confusion, which is why we do not recommend a move unless there is a real reason for it.

General information only. Tell us how your business runs and we will tell you honestly which of the four we would put you on.