Xero vs MYOB: Which Accounting Software Best Supports Asia-Pacific SMBs?
A detailed comparison of Xero and MYOB, focusing on local tax compliance, payroll, and bank integrations for SMBs in the Asia-Pacific region.
Photograph: Jakub Żerdzicki / Unsplash
Businesses seeking a modern, cloud-based accounting solution with a vast app ecosystem and strong international support.
Companies requiring robust local payroll, tax compliance, and inventory management tailored to Australian and New Zealand markets.
At a glance
| Criterion | Xero | MYOB |
|---|---|---|
| Local Tax Compliance | Supports multiple tax systems with automated calculations and reporting, including GST in Australia and New Zealand. | Offers deep integration with Australian Taxation Office (ATO) for GST, BAS, and Single Touch Payroll (STP) compliance. |
| Local Payroll | Provides payroll services in Australia and New Zealand, including STP reporting and superannuation calculations. | Features comprehensive payroll solutions with ATO integration, handling PAYG, superannuation, and STP reporting. |
| Bank Integrations | Integrates with over 1,000 global banks, offering real-time bank feeds and reconciliation features. | Seamlessly connects with Australian banks, providing direct bank feeds and reconciliation tailored to local financial institutions. |
| Inventory Management | Offers basic inventory tracking with add-on apps for advanced features. | Provides built-in inventory management with features like serial number tracking and multi-location support. |
| Pricing | Starts at approximately $29 per month, with higher tiers offering additional features. | Pricing varies; contact for details, with plans tailored to Australian and New Zealand businesses. |
Why this comparison matters
Small and medium-sized businesses (SMBs) across the Asia-Pacific region, particularly in Australia and New Zealand, are currently evaluating their accounting software options amidst an increasingly complex regulatory landscape. The decision often boils down to choosing between a globally-oriented platform like Xero and a locally-specialised solution such as MYOB. Practitioners are facing the critical task of