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

The Career Academy22/07/25

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

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