Xero vs MYOB: Which Accounting Software is Right for You?

Managing Business Finances in 2025

Managing your business finances efficiently is essential for success, and choosing the right accounting software is a crucial part of that journey. In New Zealand, Xero and MYOB remain the leading options for small and medium-sized businesses, each offering innovative cloud-based solutions tailored to local needs. Whether you're launching your own business, growing your side hustle, or starting a career in bookkeeping, understanding these tools is vital.

Why NZ Businesses Need the Right Accounting Software

  • Real-time cash flow & IRD compliance – Both Xero and MYOB deliver live financial insights and ensure smooth GST and payroll filing.

  • Anytime, anywhere access – Cloud-based platforms allow you to manage finances on desktop or mobile, ideal for remote or on-site work.

  • Enhance career & business value – Mastering these systems through courses creates practical skills for bookkeepers, accountants, and business owners.

Xero: New Zealand’s Cloud Pioneer

Founded in Wellington, 2006, Xero remains built by and for Kiwi businesses:

  • No installation required – Fully browser-based with a mobile app and integrated payroll.
    Source: Accountant New Plymouth | Xero Blog
  • Updated 2025 features:
    • Fixed assets UI with file attachments.
      source: MYOB | Xero Blog
    • Reporting enhancements – Zero-balance account visibility.
      source: Xero Blog
    • Dynamic invoicing, keyboard shortcuts, drag‑drop uploads, bill entry.
      source: Humphries Associates
  • Payroll strengths – IRD-linked GST/KiwiSaver and employee self‑service.
    source: Accountant New Plymouth
  • Strong integrations – Tap-to-pay (Stripe), unlimited bank feeds, 1,000+ apps.
  • Local pricing – From NZ$35+GST/month.
    source:Xero Pricing

🧠 Want to master Xero? Explore our Xero Courses:

MYOB: A Trusted, Evolving Rival

Since the late 1980s, MYOB has grown into a modern business solution offering features that support compliance, automation, and smarter decision-making:

  • Hybrid access – Browser and AccountRight desktop, with a revamped mobile app coming in 2025.
    source: Announcement
  • Comprehensive NZ compliance – GST, IR6/IR7 trust forms, pensions, and payroll ACC updates.
    source: MYOB NZ
  • Payroll enhancements – ACC levy and year-end tax updates from April 2025.
    source: Details
  • AI automation & smart‑matching – Transaction matching and intelligent insights rolling out in 2025.
    source: MYOB Blog
  • ERP-level tools (Acumatica) – Approval workflows, project links, proforma billing.
    source: More info
  • Pricing – From NZ$35+GST/month with inventory/add‑on fees.
    source: myob plans

📘 Build MYOB expertise with our MYOB Courses:

Quick Feature Comparison (NZ – July 2025)

Feature Xero (2025) MYOB (2025)
Access Browser-based + Xero Accounting mobile app Browser, desktop (AccountRight), & revamped mobile app
GST/Tax Filing Direct GST filing to IRD, PAYE, KiwiSaver, GST audit trail Auto GST calc, IR6/IR7 trust filing, ACC levy updates
Payroll Integrated Xero Payroll with Xero Me app (small teams) Included in all plans; full IRD, PAYE, KiwiSaver, mobile timesheets
Invoicing & Quotes Smart invoicing, automated reminders, templates, app/desktop quotes Recurring invoices, custom templates, client auto-fill
Bank Reconciliation 21,000+ bank feeds, auto-reconciliation, Stripe Tap to Pay support 130+ banks, smart-matching, AI account mapping
Inventory Management Basic stock tracking with sales/purchase links Unlimited inventory, reordering alerts, multi-location
Project/Job Tracking Budgeting, quoting, time recording, profitability analysis Full job lifecycle management with margin insights
Expense Management Xero Expenses + Hubdoc for receipt capture and claims Bill tracking, bank match, on-charge to clients
Multi-Currency Available with premium plans (live FX + conversions) Included in Pro+ plans, automatic currency handling
Fixed Assets Track & depreciate assets, add docs, collaborate with advisors Enhanced fixed asset UI + file storage support
Reporting & Analytics Real-time dashboard, zero-balance reports, Analytics+ upgrades Cash flow, budgeting, query designer, NZ-ready templates
App Integrations 1,000+ apps in Xero App Store 300+ apps, ERP features via Acumatica
Mobile Capability Xero Me & Xero App: invoices, payroll, contacts, expenses Unified MYOB mobile app: invoicing, capture, payroll (2025 release)
User Permissions Role-based access, collaborative accountant view Advanced roles, audit trail, user restrictions
Price (from) NZ$35.00 + GST (90% off for 3 months until 31 July 2025) NZ$35.00 + GST (tiered plans with bundled features)

Which Should You Choose?

Xero wins for:
  • Clean, intuitive UI and fast automation.
  • Mobile-first, integrated payroll, and lightweight inventory.
  • Ideal for modern, cloud-ready finance workflows.
MYOB wins for:
  • Traditional desktop users wanting browser flexibility.
  • Businesses needing robust payroll, trust workflows, invoicing.
  • Organisations seeking ERP-level control and deeper AI automation.

Learn Latest Xero & MYOB Skills with TCA

The Career Academy’s training is fully updated for 2025, with NZ-specific features such as:

    • Xero fixed-assets, reporting, payroll updates.
    • MYOB trust filing, AI smart-matching, payroll compliance changes.
    • Available packages: Essentials, Advanced, Payroll, Inventory, Combo.
    • Self-paced, IRD-aligned, accredited – perfect for career-ready bookkeeping.

Explore bundled options like our Advanced Xero + MYOB Pathway or kickstart your journey with Start Your Own Business Course.

  • 100% online and self‑paced
  • Accredited and up‑to‑date
  • Backed by industry experts

Help Others Discover The Career Academy

If you found this comparison useful, consider linking back to us or sharing this page with your colleagues, clients, or community.

🔗 Refer to this page: Xero vs MYOB Accounting Comparison – Career Academy NZ

You can also link directly to our trusted courses:

Empower yourself or your team with practical, certified accounting skills that drive real results in 2025 and beyond!