6 MYOB Accounting Software Alternatives For Small Businesses

• Reading Time: 7 Minutes
• Published: March 29, 2023
• Last Updated: February 14, 2025

As a small business owner, you know that managing finances can be challenging. And while MYOB is a popular choice for many businesses worldwide, it may not always suit your specific needs. That is why we have scoured the internet and found 6 top-notch alternatives to MYOB that are perfect for small businesses like yours. From cloud-based solutions to user-friendly interfaces, our list has got you covered. So, buckle up and get ready to explore some game-changing alternatives to MYOB accounting software that will help ensure your accounting process is efficiently managed and help take your business to the next level!

Introduction to MYOB Accounting Software

MYOB is a powerful and versatile accounting software that can help businesses to accurately and efficiently manage their finances. It offers a wide range of features and tools that can make bookkeeping quick and easy while also providing valuable insights into your business finances. The benefits of MYOB accounting software include efficiently tracking income and expenses, preparing invoices and financial statements, managing payroll, and much more. Whether you are a small business owner or a large corporation, MYOB can help you to understand your finances better and make sound financial decisions.

Good accounting software is essential to keeping your business running smoothly. MYOB is one of the most popular accounting software programs for small businesses in Australia, but it is not the only option out there. When it comes to efficiently managing your accounting and bookkeeping, there are several other options on the market, and it can be hard to know which one is right for you. So, we have compiled a list of the 6 most popular alternatives of MYOB. Let us have a look at them.

Overview of 6 Alternatives to MYOB Accounting Software

1. FreshBooks: FreshBooks is a software as a service model (SaaS) accounting software for small and medium-sized businesses. It is a cloud-based accounting solution that helps businesses save time and money by automating their bookkeeping. FreshBooks offers many features, including invoicing, time tracking, expense management, estimates & proposals, client management, accounting & financial reporting, and project management.

It also integrates with other business applications, such as Shopify, Gmail, Slack, Zapier, Mailchimp, and more. FreshBooks also offers a 30-day free trial, at the end of which you can choose from the four paid plans, i.e., Lite, Plus, Premium, and Select. In Select Plan, you can choose a customised plan where the pricing changes per your chosen services.

2. Xero: If you are looking for an MYOB alternative, Xero is a great option for small and medium businesses. Xero is an online accounting software that is simple to use and set up. It is perfect for businesses that do not have a lot of accounting experience, as it takes the hassle out of bookkeeping and gives you real-time visibility of your finances.

Xero also offers a range of features designed to save you time and money, such as automated bank reconciliation, invoicing, bill payment, project tracking, inventory management, and reporting. Plus, you can access your account anytime, anywhere, with the Xero mobile app. Xero offers three paid plans: Starter, Standard, and Premium. However, before switching to a paid plan, businesses can try Xero for free for a 30-day trial period to ensure that it is the right choice for them.

3. QuickBooks Online: QuickBooks Online is a cloud-based accounting software developed by Intuit that offers a range of features and tools to help small and medium businesses manage their finances. The software is easy to use and provides users with real-time insights into their business finances. QuickBooks Online also offers a range of integrations with other business applications, making it a versatile tool for small businesses. Simple Start, Essentials, and Plus are the three paid plans offered by QuickBooks, and each plan comes with a different number of features.

To ensure that QuickBooks is apt for you, you can take the 30-day trial offer and choose the plan with features that meet your needs. Some of the top features of QuickBooks include invoicing, online banking, time tracking, reporting, and cash flow management.

4. Zoho Books: Zoho Books is a great alternative to MYOB accounting software for small businesses. It has all the features that small businesses need, including invoicing, tracking expenses, and creating reports. Plus, it is very user-friendly and affordable. Zoho Books is available on iOS and Android so that you can access your finances from anywhere. It is also cloud-based, so your data is always backed up and secure. Plus, Zoho Books integrates with popular apps like PayPal, G Suite, Office 365, Zapier, and much more to make managing your finances easier than ever. It also helps keep the businesses GST-ready. Besides this, the other features of Zoho Books include bills and expense management, invoicing, banking, project management, inventory management, taxation, reporting, and vendor portal.

Zoho Books offers a 14-day trial period. It also has numerous paid plans to choose from once the trial period ends, including Standard, Professional, Premium, Elite, and Ultimate. In addition to all these paid plans, Zoho Books also offers a Free plan to businesses with revenue of less than 50K AUD in the financial year. Businesses do not have to pay anything for this Free plan as long as their revenue for the financial year falls under the threshold limit.

5. Sage 50cloud accounting: Sage 50cloud accounting is a great option for businesses looking for an alternative to MYOB accounting software. Sage is a great option for small businesses. It offers all the features you need to manage your finances, including invoicing, bill payment, bank reconciliation, inventory management, payroll, cash flow management, and reporting. Plus, it is cloud-based, so you can access it from anywhere at any time. Instead of a free trial, Sage 50cloud accounting offers a test drive or an on-demand product demo. The paid plans of this accounting software are Pro accounting, Premium accounting, and Quantum accounting.

6. Wiise ERP: Wiise is a cloud-based enterprise resource planning (ERP) solution that helps businesses of all sizes manage their finances, inventory, and operations. Wiise offers comprehensive modules covering all business management aspects, including financials, inventory, manufacturing, project management, supply chain, and human resources. The software is designed to be scalable and flexible, so it can grow with your business.

Wiise is built on the latest technology platforms and utilises artificial intelligence (AI) and machine learning to deliver a smarter ERP experience. The software is designed to be easy to use and gives users real-time visibility into all areas of their business. Wiise integrates with leading third-party applications such as Square POS, Microsoft Office 365, Chargebee, etc. From start-ups to multinational corporations, Wiise helps businesses streamline their operations, improve efficiencies, and make better decisions. The cost of using this software varies based on the services you choose.

Conclusion

MYOB is a reliable and powerful accounting software that can accommodate the needs of small businesses. However, there are many other options available that may better suit your business’s requirements. We have listed 6 great alternatives to MYOB in this blog, including some top-notch accounting solutions like FreshBooks, Zoho Books, Xero, etc., so you can find one that works best for you. Choose the right accounting software for your business based on its features and price plans, keeping your budget for the task in mind.

As important as it is to find the right accounting software, it is equally crucial to find the right person to help you manage the software itself. Managing your chosen accounting software via an in-house team might be expensive and complicated. Therefore, finding an expert proficient with your chosen software is best. The best way to find such an expert is by outsourcing. Outsourced accounting and bookkeeping services providers usually have expertise and experience in different accounting software.

You can contact us if you are looking for such a service provider. Whiz Consulting is an outsourcing firm offering accounting and bookkeeping services to businesses from varied industries and sizes. Our experts have vast knowledge and years of experience working on different accounting software, including FreshBooks, Xero, Zoho Books, and many more mentioned above. So, choose the right software and service provider to ensure your books are in order, enjoy the benefits of both the accounting software and outsourced services and take your business to greater heights.

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