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Xero vs MYOB Essentials Comparison

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Overview

Xero and MYOB Essentials are popular tools among users. Both products have a lot of overlap in terms of their capabilities, so it makes sense to compare the two. To help you make a decision, we compare the ratings of Xero and MYOB Essentials to help you make an informed decision on which product is more suited for your organization.

Category Leaders
  • Platforms supported
  • Web-based
  • iPhone app
  • Android app
  • Windows Phone app
  • Typical customers
  • Freelancers
  • Small businesses
  • Mid size businesses
  • Large enterprises
  • Customer support
  • Phone
  • Online
  • Knowledge base
  • Video tutorials
  • Platforms supported
  • Web-based
  • iPhone app
  • Android app
  • Windows Phone app
  • Typical customers
  • Freelancers
  • Small businesses
  • Mid size businesses
  • Large enterprises
  • Customer support
  • Phone
  • Online
  • Knowledge base
  • Video tutorials

Screenshots

Pricing

Starting from
$

13.50

/momonth
  • Free trial available
  • No credit card required
  • Free account
  • Subscription based
Starting from
$

10

/momonth
  • Free trial available
  • No credit card required
  • Free account
  • Subscription based

User reviews

We’ve analyzed 1,890 reviews for Xero and 78 reviews for MYOB Essentials to uncover how users perceive these products on parameters such as ease of use, customer support, value for money, functionality, and ease of deployment. We also look at whether users said they were likely to recommend these tools.


Note: All ratings are given on a scale of 1-5. We’ve scaled them to 20-100 to make them more distinguishable. Reviews that had ratings in decimals were rounded off (thus, a 4.5 star rating became a 5).


Overall rating:
Overall rating is the most general rating where, after using and evaluating the product, users provide a final rating. Xero scores 86 in overall rating, while MYOB Essentials lags behind at 77.


Ease of use:
If a product isn’t simple to use, user adoption is generally low. The ease-of-use rating tells us exactly that—how easy do reviewers find the product to use? Xero scores 85 in ease of use, while MYOB Essentials lags significantly behind at 74.


Value for money:
Value for money is one of the most important factors that users consider when choosing a product. 41% of reviewers on GetApp said that value for money and pricing are the two reasons why they picked a certain product over its competitors. Xero scores 84 in value for money, while MYOB Essentials lags significantly behind at 67.


Features:
The features offered by a product—or a lack of features offered—is a huge factor in whether you’ll choose that product or go with a competitor. Xero scores 83 in functionality, while MYOB Essentials lags significantly behind at 71.


Customer support:
A software vendor’s quality of customer support could be the key to your success using the product. How quickly they respond to your questions, how they communicate new functionality, and the level of personalized service you receive are crucial aspects of your experience with the product. Xero scores 78 in customer support, while MYOB Essentials lags significantly behind at 66.


Likelihood to recommend:
If users love the product, they’re more likely to recommend it to their colleagues or friends. Our likelihood-to-recommend rating captures exactly that—how likely reviewers are to recommend each product. Xero scores 81 in likelihood to recommend, while MYOB Essentials lags significantly behind at 67.

4.3

5

4

3

2

1

1,142

531

179

55

73

  • Value for money
  • Ease of use
  • Features
  • Customer support
92%
would recommend this app

3.8

5

4

3

2

1

33

27

14

4

10

  • Value for money
  • Ease of use
  • Features
  • Customer support
76%
would recommend this app

Pros

The ease of use and reputation are by far the greatest part of this product. In addition to this, the range of potential integrations is fantastic.
I love the app and gives me accounting on the go. Helps me track invoices and profits with ease.
Really easy to submit expenses, categorise them and check the progress of you submitted expense - super easy to do all from the app.

Pros

We also love that MYOB caters for the very small business operators out there by have a very affordable and easy to use solution for them which is MYOB Essentials.
There is a great chance that your accountant is familiar with this and will be able to make great recommendations.
Creating customers while creating quotes or invoices is good to keep you moving easily. Good integration features, such as cards.

Cons

There are no delivery notes/packing slips. They tout a "workaround" but be warned, it's exactly 10 extra clicks so it's really not an option if you need this feature.
Our main complaint is that Xero stopped doing payroll in 2018, so now you have to pay an additional fee to a payroll processor such as Gusto.
Changing accounting software from Xero is a horrible experience. They make it very difficult to pivot to other software.

Cons

Cancelling you account is very difficult and they will try and screw you out of every last cent. I will never ever use this company or software again. SO ANGRY at the account closing process.
They might have stolen but it has cost them a customer and I will tell everybody I meet to avoid that software and company like the plague.
All that needed to be done is have the option of reports it had be converted to excel rather than PDF. The decision to go to accountright will be fatal.
  • Vendor responds to reviews
  • Last review3 days ago
  • Vendor responds to reviews
  • Last review9 days ago

Key features

  • Total features169
  • "What If" Scenarios
  • 401(k) Tracking
  • ACH Payment Processing
  • API
  • Access Controls/Permissions
  • Accounting
  • Accounting Integration
  • Accounts Payable
  • Accounts Receivable
  • Accrual Accounting
  • Activity Dashboard
  • Activity Tracking
  • Ad hoc Reporting
  • Alerts/Notifications
  • Application Management
  • Approval Process Control
  • Approval Workflow
  • Asset Accounting
  • Asset Tracking
  • Assignment Management
  • Audit Trail
  • Automated Quoting
  • Automated Scheduling
  • Automatic Backup
  • Automatic Billing
  • Bank Reconciliation
  • Benefits Management
  • Billing & Invoicing
  • Billing Portal
  • Budgeting/Forecasting
  • CPA Firms
  • Calendar Management
  • Case Management
  • Cash Flow Management
  • Cash Management
  • Cataloging/Categorization
  • Chart of accounts
  • Charting
  • Check Printing
  • Check Processing
  • Check Writing
  • Client Management
  • Client Portal
  • Collaboration Tools
  • Collections Management
  • Compliance Management
  • Consolidation/Roll-Up
  • Construction Breakdowns
  • Contact Database
  • Contact Management
  • Contingency Billing
  • Contract/License Management
  • Cost Tracking
  • Credit Card Processing
  • Cross Ledger Posting
  • Currency Conversion
  • Customer Database
  • Customer History
  • Customer Segmentation
  • Customer Statements
  • Customizable Branding
  • Customizable Invoices
  • Customizable Reports
  • Customizable Templates
  • Dashboard
  • Data Import/Export
  • Data Synchronization
  • Depreciation Management
  • Direct Deposit
  • Discount Management
  • Document Management
  • Document Storage
  • Document Templates
  • Drag & Drop
  • Due Date Tracking
  • Dunning Management
  • Duplicate Payment Alert
  • Electronic Payments
  • Email Management
  • Email Templates
  • Expense Claims
  • Expense Management
  • Expense Tracking
  • Fee Calculation & Posting
  • Financial Analysis
  • Financial Management
  • Financial Reporting
  • Fixed Asset Management
  • For CPA Firms
  • For Government
  • Forecasting
  • Fraud Detection
  • Fund Accounting
  • General Ledger
  • Goal Setting / Tracking
  • Hourly Billing
  • Income & Balance Sheet
  • Interaction Tracking
  • Inventory Control
  • Inventory Management
  • Inventory Optimization
  • Inventory Tracking
  • Invoice Creation
  • Invoice History
  • Invoice Management
  • Invoice Processing
  • Job Costing
  • Job Management
  • Job Tracking
  • Kitting
  • Leave Tracking
  • Match & Merge
  • Mobile Access
  • Mobile App
  • Mobile Payments
  • Monitoring
  • Multi-Channel Management
  • Multi-Company
  • Multi-Country
  • Multi-Currency
  • Multi-State
  • Multiple User Accounts
  • Nonprofits
  • Offline Access
  • Online Invoicing
  • Online Payments
  • Order Management
  • Order Processing
  • Order Tracking
  • Overpayment Processing
  • Overrun Reporting
  • Partial Payments
  • Payment Processing
  • Payroll Management
  • Payroll Reporting
  • Performance Metrics
  • Price / Margin Management
  • Pricing Management
  • Product Configurator
  • Product Identification
  • Profit/Loss Statement
  • Profitability Analysis
  • Progress Tracking
  • Project Accounting
  • Project Billing
  • Project Management
  • Project Time Tracking
  • Project Tracking
  • Purchase Order Management
  • Purchasing & Receiving
  • Quotes/Estimates
  • Real Time Data
  • Real Time Reporting
  • Real-time Updates
  • Receipt Management
  • Receivables Ledger
  • Records Management
  • Recurring Payments
  • Recurring/Subscription Billing
  • Reimbursement Management
  • Reorder Management
  • Reporting/Analytics
  • Requisition Management
  • Retail Inventory Management
  • Revenue Recognition
  • Sales Management
  • Sales Reports
  • Sales Tax Management
  • Search/Filter
  • Self Service Portal
  • Shipping Management
  • Sick Leave Tracking
  • Sourcing Management
  • Spend Management
  • Staff Management
  • Status Tracking
  • Stock Management
  • Supplier Management
  • Tax Calculation
  • Tax Compliance
  • Tax Management
  • Template Management
  • Third Party Integrations
  • Time & Expense Tracking
  • Time Tracking
  • Timesheet Management
  • Transaction History
  • Vacation/Leave Tracking
  • Vendor Management
  • W-2 Preparation
  • Wage Garnishment
  • Warehouse Management
  • Total features96
  • "What If" Scenarios
  • 401(k) Tracking
  • ACH Payment Processing
  • API
  • Access Controls/Permissions
  • Accounting
  • Accounting Integration
  • Accounts Payable
  • Accounts Receivable
  • Accrual Accounting
  • Activity Dashboard
  • Activity Tracking
  • Ad hoc Reporting
  • Alerts/Notifications
  • Application Management
  • Approval Process Control
  • Approval Workflow
  • Asset Accounting
  • Asset Tracking
  • Assignment Management
  • Audit Trail
  • Automated Quoting
  • Automated Scheduling
  • Automatic Backup
  • Automatic Billing
  • Bank Reconciliation
  • Benefits Management
  • Billing & Invoicing
  • Billing Portal
  • Budgeting/Forecasting
  • CPA Firms
  • Calendar Management
  • Case Management
  • Cash Flow Management
  • Cash Management
  • Cataloging/Categorization
  • Chart of accounts
  • Charting
  • Check Printing
  • Check Processing
  • Check Writing
  • Client Management
  • Client Portal
  • Collaboration Tools
  • Collections Management
  • Compliance Management
  • Consolidation/Roll-Up
  • Construction Breakdowns
  • Contact Database
  • Contact Management
  • Contingency Billing
  • Contract/License Management
  • Cost Tracking
  • Credit Card Processing
  • Cross Ledger Posting
  • Currency Conversion
  • Customer Database
  • Customer History
  • Customer Segmentation
  • Customer Statements
  • Customizable Branding
  • Customizable Invoices
  • Customizable Reports
  • Customizable Templates
  • Dashboard
  • Data Import/Export
  • Data Synchronization
  • Depreciation Management
  • Direct Deposit
  • Discount Management
  • Document Management
  • Document Storage
  • Document Templates
  • Drag & Drop
  • Due Date Tracking
  • Dunning Management
  • Duplicate Payment Alert
  • Electronic Payments
  • Email Management
  • Email Templates
  • Expense Claims
  • Expense Management
  • Expense Tracking
  • Fee Calculation & Posting
  • Financial Analysis
  • Financial Management
  • Financial Reporting
  • Fixed Asset Management
  • For CPA Firms
  • For Government
  • Forecasting
  • Fraud Detection
  • Fund Accounting
  • General Ledger
  • Goal Setting / Tracking
  • Hourly Billing
  • Income & Balance Sheet
  • Interaction Tracking
  • Inventory Control
  • Inventory Management
  • Inventory Optimization
  • Inventory Tracking
  • Invoice Creation
  • Invoice History
  • Invoice Management
  • Invoice Processing
  • Job Costing
  • Job Management
  • Job Tracking
  • Kitting
  • Leave Tracking
  • Match & Merge
  • Mobile Access
  • Mobile App
  • Mobile Payments
  • Monitoring
  • Multi-Channel Management
  • Multi-Company
  • Multi-Country
  • Multi-Currency
  • Multi-State
  • Multiple User Accounts
  • Nonprofits
  • Offline Access
  • Online Invoicing
  • Online Payments
  • Order Management
  • Order Processing
  • Order Tracking
  • Overpayment Processing
  • Overrun Reporting
  • Partial Payments
  • Payment Processing
  • Payroll Management
  • Payroll Reporting
  • Performance Metrics
  • Price / Margin Management
  • Pricing Management
  • Product Configurator
  • Product Identification
  • Profit/Loss Statement
  • Profitability Analysis
  • Progress Tracking
  • Project Accounting
  • Project Billing
  • Project Management
  • Project Time Tracking
  • Project Tracking
  • Purchase Order Management
  • Purchasing & Receiving
  • Quotes/Estimates
  • Real Time Data
  • Real Time Reporting
  • Real-time Updates
  • Receipt Management
  • Receivables Ledger
  • Records Management
  • Recurring Payments
  • Recurring/Subscription Billing
  • Reimbursement Management
  • Reorder Management
  • Reporting/Analytics
  • Requisition Management
  • Retail Inventory Management
  • Revenue Recognition
  • Sales Management
  • Sales Reports
  • Sales Tax Management
  • Search/Filter
  • Self Service Portal
  • Shipping Management
  • Sick Leave Tracking
  • Sourcing Management
  • Spend Management
  • Staff Management
  • Status Tracking
  • Stock Management
  • Supplier Management
  • Tax Calculation
  • Tax Compliance
  • Tax Management
  • Template Management
  • Third Party Integrations
  • Time & Expense Tracking
  • Time Tracking
  • Timesheet Management
  • Transaction History
  • Vacation/Leave Tracking
  • Vendor Management
  • W-2 Preparation
  • Wage Garnishment
  • Warehouse Management

Integrations

  • Total integrations982
  • Authorize.net
  • Dropbox Business
  • Dynamics 365
  • FreshBooks
  • Magento Commerce
  • Microsoft Dynamics GP
  • Microsoft Excel
  • NetSuite
  • PayPal
  • QuickBooks Online
  • QuickBooks Online Advanced
  • SAP Business One
  • Sage Intacct
  • Salesforce Sales Cloud
  • Shopify
  • Slack
  • Stripe
  • WooCommerce
  • Xero
  • Zapier
  • Total integrations171
  • Authorize.net
  • Dropbox Business
  • Dynamics 365
  • FreshBooks
  • Magento Commerce
  • Microsoft Dynamics GP
  • Microsoft Excel
  • NetSuite
  • PayPal
  • QuickBooks Online
  • QuickBooks Online Advanced
  • SAP Business One
  • Sage Intacct
  • Salesforce Sales Cloud
  • Shopify
  • Slack
  • Stripe
  • WooCommerce
  • Xero
  • Zapier

User reviews that mention these apps

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support

Share this review:

MYOB Essentials logo

MYOB Essentials

Don't start your business accounting with a regrettable decision, look elsewhere!

Reviewed a year ago

Underwhelming to say the least. I was partially sold on the fact that they have a customer service number to assist if need be, don't be fooled by this either, the call centre workers are rather unfamiliar with the MYOB product (unless I was unfortunate enough to speak with their newest member each time) and all my queries had to be looked up each time and they read answers from a screen which I could find on-line myself , they weren't able to elaborate nor answer any further questions I had outside of what was written in front of them.

Pros

Reasonably easy to use but have found Xero to be much better in almost every way.

Cons

Limited features and limited expandability compared to Xero. No was to have a back up of accounting file on your computer. If or once you decide Essentials ins't for you, they do not offer a way to transfer to their own Account Rite product nor do they off to export data to Xero. They will give you 1 month access as a read only before all data is deleted off their server unless you pay $25 Per month for the remaining 5 years you're required to keep the data

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend4/10

Share this review:

MYOB Essentials logo

MYOB Essentials

Probably OK If you Are a Trained Accountant or Bookkeeper

Reviewed 2 years ago

We wasted a lot of time and resources using this software for our small business accounting needs. Whilst it did the job in the end we believe there are simpler options such as XERO for us non- accountants.

Pros

As a small business owner not trained in the art of accounting there wasn't a lot we found easy about using MYOB Essentials. The reporting process at the end is probably our highlight.

Cons

We found MYOB Essentials cumbersome to set up and use. The support team was basically of little help. Sending files to our Accountant at the end of the tax year was a pain. MYOB Essentials is better suited to those with a deeper knowledge of accounting than what we have in our business. That is why we switched to XERO which we find much easier and more efficient to use.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

Share this review:

MYOB Essentials logo

MYOB Essentials

Easy to use Accounting Softeware for SMB

Reviewed 3 years ago

I have used MYOB for many years and have not felt the need to change. We are currently able to solve all our accounting with the software. If the company was to expand then we would consider Xero instead.

Pros

I think MYOB is a good product and it does mostly what I need. It's very easy to do most accounting tasks. I do prefer the software versions rather than the Live/Cloud versions. though.

Cons

The customer service can take some time to get through to. and limited use of 3rd party payment gateways.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

Share this review:

MYOB Essentials logo

MYOB Essentials

A very easy to use and follow accounting software, the flow of information is easy to follow

Reviewed 4 years ago

This software is easy to use and organize. This software allows me to track and update information easily and in a timely manner

Pros

I like the dashboards that show the flow of information from beginning to end. Reconciling the bank is very easy to do as well as enter in new sales and purchases. It's also very easy to export data into excel if additional analysis is needed outside of MYOB.

Cons

Generating sales reports, P&Ls, and BS is a bit cumbersome. It would also be nice if it had a 'dashoboard' feature, like xero, that shows all the relevant information on one page. Having one spot to go to for most of the day's relevant information would be very helpful

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend3/10

Share this review: