With a wide range of financial software packages available in Australia, choosing the right solution for your organisation can be a time-consuming and overwhelming task. To help simplify the decision-making process, School Sport Professionals has prepared a concise overview of the key pros and cons of four leading platforms: Xero, MYOB, Reckon, and QuickBooks.ย Feel free to use this as a starting point in exploring the many options available to you to enhance your business operations.
1. Xero
Pros:
Australian-friendly:ย ATO-compliant (e.g. Single Touch Payroll, BAS).
Cloud-based:ย Access from anywhere, ideal for remote work.
User-friendly interfaceย and clean dashboard.
Strong integrationย with Australian banks and many third-party apps.
Great for collaboration:ย Easy for accountants/bookkeepers to access.
Cons:
Pricing can be highย for advanced features or growing businesses.
Limited phone support; relies on online ticketing.
Payroll limitsย on lower-tier plans.
2. MYOB (Business/AccountRight)
Pros:
Well-established in Australiaย with strong local compliance.
Robust payroll features, including for more complex setups.
Good offline/desktop optionsย (AccountRight), plus cloud sync.
Strong reportingย and inventory tracking.
Cons:
Interface can feel datedย compared to competitors.
Steeper learning curveย for new users.
More expensive tiersย for full functionality and multi-user access.
3. Reckon (One)
Pros:
Affordable pricing, especially for sole traders or micro businesses.
Modular system:ย Pay only for the features you need.
Australian-based support.
Good for basic accountingย and payroll needs.
Cons:
Interface and user experienceย less intuitive than newer platforms.
Fewer integrationsย than Xero or QuickBooks.
Limited scalabilityย for growing businesses.
4. QuickBooks (Online)
Pros:
User-friendly design, particularly for non-accountants.
Strong mobile appย functionality.
Integrated payroll (KeyPay)ย and GST/BAS tools.
Good value for featuresย in base plans.
Cons:
Support is offshore, which can impact response times.
Less tailored to Australian usersย than MYOB/Xero.
Some reports and featuresย are limited unless on higher plans.
Summary Recommendation:
Best for simplicity and growth:ย Xero
Best for payroll-heavy or traditional businesses:ย MYOB
Best on a budget:ย Reckon
Best for ease of use and mobile access:ย QuickBooks
Feel free to add a question to the Members Forum to gain feedback directly from colleagues around Australia on their software of choice.