Best Accounting Software In Australia for 2024

Looking for the best accounting software in Australia can be tough, as there are countless mainstream and under-the-radar options.

QuickBooks is our top choice for the best Australia accounting software as it is reasonably priced and has all the features that most small and medium-sized businesses (SMBs) need, like invoicing, income and expense tracking, and connecting to their banks.

In this guide, we have reviewed the top accounting software in Australia for 2024, analysing their key features, pricing, and integrations. Read on to find out why software like QuickBooks, Xero, MYOB, and Freshbooks are among the best accounting platforms to use.

The Best Accounting Software In Australia Ranked

  1. QuickBooks: Best overall SMB accounting software in Australia.
  2. Xero: Best for Australian solo entrepreneurs.
  3. MYOB Essentials: Ideal for DIY accounting needs.
  4. Freshbooks: Best Accounting software for Australian small businesses.
  5. Zoho Books: Best free accounting software for Australia.
  6. Oracle Netsuite: Best bookkeeping software for large Australian companies that use other Oracle products.
  7. Wave: Best accounting software for Australian startups looking for a free package.
  8. Sage: Best for Australian companies that use other Sage solutions.

Top Australian Accounting Programs Compared

This comparison table provides a summary of the most important features that accountants and companies look for when choosing the best Australian accounting software.

Accounting Software Best For Starting Price Free Version Mobile Support Integrations
QuickBooks • Invoicing
• Payroll
• GST tracking
$25 AUD/month 30-Day Free Trial Yes Stripe, HubSpot, Square, Dext, DocuSign, eBay, and Zettle
Xero • General accounting
• Payroll
• Project tracking
$32 AUD/ month N/A Yes Shopify, BigCommerce, Salesforce, Stripe, PayPal
MYOB Essentials • Tax management
• Employee payments
• Invoicing
$5 AUD/month N/A Yes WestPac, Square, Vend, Tanda, Macquarie
Freshbooks • Invoicing
• Accounting
• Payments
• Expense tracking
• Reporting
$12 AUD/month 30-Day Free Trial Yes PayPal, Stripe, HubSpot, Expensify, and Zoho Expense
Zoho • Recurring expenses
• Bank reconciliation
• Client management
Free Free for companies with $50K+ annual revenue Yes Slack, Zapier, Dropbox, Google Drive, Evernote, and Office 365
Oracle Netsuite General accounting for large local and international businesses Custom quote N/A Yes Shopify, Adobe Commerce, WooCommerce, HubSpot, Salesforce, Zendesk
Wave • Invoice generation
• Payment tracking
• Tax filing
• Payroll
$16 AUD/month Yes Yes Calendly, Shopify, WooCommerce, and PayPal
Sage • Payroll
• Invoice
• Bank reconciliations
$21 AUD/month N/A Yes Other Sage tools, HubSpot, Shopify, Stripe, and Zip

The Best Accounting Software for Australia Reviewed

To help you select the best small business accounting software in Australia, we have conducted an in-depth study of each and summarised the key features of the top companies. This review looks at the pricing, available tools, integrations, and pros and cons.

1. QuickBooks – Best Overall Accounting Software In Australia

A screenshot of QuickBooks' macrosheet

Starting Price Free Plan Top Features Payroll Reporting
$25 AUD/month • Invoicing
• Income and expenses tracking
• Connecting banks

Owned by Intuit, QuickBooks is a popular accounting software for small businesses. According to its website, it is used by over seven million customers globally. Most of its customers are small and medium businesses in many industries.

QuickBooks has gone through major changes in the past decade as it shifted from being an on-premises software to a cloud-based platform. It is highly versatile in that it can easily be used on desktop computers and smartphone operating systems including iOS and Android.

Moving QuickBooks into a SaaS platform has brought many benefits to its ecosystem, including the ability to collaborate among team workers and facilitate work-from-home.

QuickBooks is adaptable to companies across many industries. One of its most useful features is that companies can automatically connect their bank details, handle multi-currency transactions, set up recurring transactions, and automate workflow. These features are available in its second tier, which starts at $10 AUD/month.

Another important QuickBooks feature is its integration with hundreds of third-party applications in areas like eCommerce, expense management, inventory management, CRM, time tracking, and reporting. Some of the top integrations include Shopify, WooCommerce, BigCommerce, Wix, and Magento.

QuickBooks has four payment packages, which companies can select according to their needs. Simple Start, its basic package, starts at A$25/month and is ideal for small companies or sole proprietors with minimal accounting needs.

Some of these features are tracking income and expenses, tracking kilometres, linking it with banks, and tracking Goods and Services Tax (GST). Some of the other companies provide a handful of features in their cheapest package.

The Essential package goes for $40 AUD/month and has all the features in the Simple Start in addition to others, like multi-currency processing, recurring transactions, and up to three users. It is ideal for small companies that work with external suppliers.

The Plus and Advanced packages go for $55 AUD and $110 AUD/ month and have additional features like automating workflow, customising dashboards, tracking inventory, managing budgets, and managing employee expenses. The latter package is ideal for growing companies with over five employees.

QuickBooks is the best accounting software in Australia because it has the most features that SMBs need. It can also be integrated with other third-party applications that many companies use in their operations. Additionally, QuickBooks is easy to use and the training period for new staff takes less amount of time.

Pros pros

  • Hundreds of free integrations
  • Has most features that SMBs want to run their organisations
  • Can be used by SMBs and large organisations
  • Advanced tax features including GST and Business Activity Statements (BAS)
  • Can track inventory management, projects, and workflow

Cons cons

  • A bit more expensive than other companies
  • The cheapest package lacks basic features like recurring revenues

2. Xero – Best Accounting Software For Australian Solo Entrepreneurs

A screenshot of Xero's dashboard

Starting Price Free Plan Top Features Payroll Reporting
$32 AUD/month • Invoicing
• Capture bills and receipts
• Automate superannuation

Xero is the biggest Australian accounting software company with a market valuation of over $18 billion AUD and more than 3.25 million customers globally. The platform provides all the tools that anyone running a business will need when handling their accounting and it can be used by solo entrepreneurs and large businesses alike.

Xero has four packages: Starter, Standard, Premium 5, and Ultimate 10, which start at $32 AUD, $65 AUD, $85 AUD, and $115 AUD, respectively. The company regularly provides discounts on both monthly and annual packages.

In addition to the base pricing, customers can select other add-ons like claim expenses and time tracking and pay a monthly fee.

The basic package is tailored towards startups or solo entrepreneurs since it offers just a few features like invoice generation and quotes, bank transaction reconciliation, capturing receipts, and cash flow snapshots.

The most advanced package has more features like in-depth analytics, automated superannuation, multiple currencies processing, and bulk reconciliation. Xero has other features that are specifically tailored for Australian companies. Its payroll solutions incorporate Australian superannuation tools, making it easy for you to handle.

Additionally, like most other top-tier Australian accounting software options, it also has intuitive mobile applications to simplify processes.

The Xero App Store is a marketplace that allows for integrations with thousands of applications. Some of the most popular of these include Expensify, Timely, Stripe, GoCardless, and PayPal.

Xero has also invested in securing its platform to ensure that all accounts and transactions are safe. In conducting our review, we did not see any instances mentioned where there was a platform-wide hacking event.

Xero is ideal for SMBs and solo entrepreneurs because of its set of features in its cheapest package, including bill tracking, payroll tools, and bank account reconciliation.

Pros pros

  • Thousands of free integrations
  • Advanced superannuation features
  • Easy-to-use accounting platform
  • Easy bank reconciliation
  • In-depth analytics features
  • Regular discounts
  • Has a 30-day free trial

Cons cons

  • It is a bit more expensive than other accounting providers
  • Its cheapest package does not support multiple currencies
  • No money-back guarantee

3. MYOB Essentials – Best Software For DIY Accounting

A screenshot of Myob's dashboard

Starting Price Free Plan Top Features Payroll Reporting
$30 AUD/month • Unlimited invoices
• Multiple currencies
• Unlimited payroll for the Plus package
• Job tracking

MYOB Essentials, now known as MYOB Business, is one of the best home accounting software in Australia. The company was established in 1991, went public in 2015, and was thereafter acquired by KKR in 2019 in a $1.6 billion AUD deal.

MYOB is used by more than a million people, and many of those people are in Australia and New Zealand. Its typical customers are small and medium-sized business owners (SMBs) who love it for its simplicity and available integrations.

MYOB comes loaded with a number of users, most of which are also provided by other accounting firms in Australia. Its top features include invoicing, expense management, payroll processing, and financial reporting.

It has other unique features that complement companies’ accounting processes. For example, it has a Customer Relationship Management (CRM) tool that helps companies communicate with their customers, track leads, check inventory, and increase sales. Its other complementary solutions are a job tracking tool, timesheets, and roasters.

MYOB Business’s pricing structure is similar to that of Xero and QuickBooks. Its most basic package is known as Lite and goes for $5 per month and $30 after the first six months. This offer is only offered to new customers.

Lite is a basic package that lets companies send unlimited invoices and quotes. They can also add payroll for up to two employees at $1.50 AUD/month per employee.

The Pro package goes for $8 AUD/month for the first 6 months followed by $55 AUD/month afterwards. Its most important features are advanced reports generation, unlimited bank accounts, and employee rostering.

The other two packages, Plus and Premier, go for $68 and $85 for the first 3 months and $136 and $170 afterwards. These accounts have more features like billing projects and clients by time.

MYOB can be integrated with hundreds of other software that are used by millions of users like Salesforce, Shopify, and WooCommerce.

Pros pros

  • Extremely easy-to-use UI
  • Has in-built CRM in its higher-tier packages
  • Hundreds of integrations
  • Highly customisable
  • Supports multiple payment options
  • Well-rated mobile apps available

Cons cons

  • Bit more expensive than some of its competitors
  • Free trial is only available for the two most expensive packages
  • Free trial requires you to submit payment details

4. FreshBooks – Best Small Business Accounting Software For Australia

A screenshot of FreshBooks' dashboard

Starting Price Free Plan Top Features Payroll Reporting
$24 AUD/month • Unlimited invoices
• Track project profitability
• Accept credit cards over the phone
• Tax handling

FreshBooks is a Canadian accounting company with over 30 million customers. The privately owned company has raised over $200 million from investors and is valued at over $1 billion.

It provides a wide range of accounting solutions to freelancers, self-employed individuals, and small businesses. The company’s products are grouped into four key segments: tracking and managing client information, billing solutions, client payment options, and managing your business.

The most basic package goes for $12 AUD/month for the first three months and $24 afterwards, making it cheaper than most companies. The package also has more features that are ideal for most solo startups and SMBs because of the pricing and the value it offers. For example, users can track unlimited expenses, send unlimited estimates, and send unlimited invoices to up to five clients.

The most popular package, Plus, goes for $36 AUD/month, while the Premium package costs $50 AUD/month. It also has a Select package, which has additional features like customisation and dedicated customer support. Its price is on request.

Most importantly, anyone, especially freelancers, can use its highly customisable free invoice generator as a replacement for Excel or Google Sheets. It also has many invoice and accounting templates.

FreshBooks has additional features that make it an ideal companion for most businesses. For example, it can help you replace other project management software like Trello, Wrike, and Basecamp as it offers chat, team management, project tracking, management of projects and deliverables, and file management.

FreshBooks can be integrated with other applications like Acuity, FreshCurrencies, Zapier, and Mailform. It also lets businesses accept various payment options like credit and debit cards and ACH.

Pros pros

  • Extremely easy-to-use
  • Good for freelancers
  • Hundreds of built-in templates
  • Cheaper than competitors
  • In-built project management software.
  • Easy time tracking tools available
  • Clean UI and in-built tax platform

Cons cons

  • Lacks advanced reporting features like cash flow
  • Integrations are fewer than its competitors

5. Zoho Books – Best Free Australian Accounting Software

A screenshot of Zoho Books's dashboard

Starting Price Free Plan Top Features Payroll Reporting
                   $0 • Free for life package
• Shipment tracking
• Project tracking expenses

Zoho Books is one of the core products offered by Zoho Group, an Indian company valued at over $1 billion. It is a comprehensive suite and the best free accounting software in Australia.

Unlike most accounting products, Zoho has a free package that most SMB companies can use without the need for upgrading. Its free version is open for companies with less than $50K AUD in annual revenue. Most startups and mom-and-pop firms belong in this category.

The free version is quite comprehensive and includes features like multi-lingual invoicing, client management, the ability to add multiple bank and credit card accounts, automated payment reminders, recurring invoices, and invoice customisation.

Zoho Books has four premium packages which start at $16.50 AUD per month, with the most expensive one going for $319 AUD per month if paid annually. Its monthly Premium package starts at $19.80, while the Ultimate one goes for $385. The most advanced package has additional features like real-time reports and dashboards and the ability to invite 15 users.

Zoho Books is ideal for all types of companies, including retailers and manufacturers, and comes with inventory management tools that enable companies to track their stock in real-time. Some of these tools include warehouse management, serial number tracking, and batch tracking.

As a result, the tool can help to eliminate the need for a separate inventory system, something especially beneficial for small companies on a budget. Additionally, Zoho Books has advanced automation features that help companies save time by automating repetitive tasks such as invoicing and recurring profiles.

The main issue we found with Zoho is that its integrations are a bit limited. In addition to other Zoho applications, the other third-party integrations are GSuite, Office 365, Slack, Zapier, Dropbox, and Evernote.

Pros pros

  • The free version has most features that SMBs want
  • Ideal for customers with other Zoho applications
  • Premium versions are cheaper than other companies
  • Quality voice, chat, and email support
  • It has advanced analytics for its ultimate package
  • It has a complete suite of inventory management tools

Cons cons

  • Limited integrations
  • The platform is a bit complicated for beginners
  • Limit of 5 scheduled reports for the free package

6. Oracle NetSuite Cloud Accounting Software – Best Accounting Software For Big Companies In Australia

A screenshot of Oracle NetSuite's dashboard

Starting Price Free Plan Top Features Payroll Reporting
Custom quote • Fixed assets management
• Close management
• Tax Management

Oracle NetSuite is a product owned by Oracle, one of the biggest software and database companies in the world. It came from Oracle’s acquisition of NetSuite in a $9.3 billion deal in 2016.

Oracle NetSuite’s cloud accounting software package provides all the tools that companies need to run their back office in a compliant manner. Some of the most notable features of the platform are a general ledger, cash flow management, accounts receivable and payable, tax management, and fixed asset management, among others.

Its cash flow management tools allow finance teams to easily monitor bank accounts and manage liquidity. It also lets users see a company’s cash flow in real-time. Meanwhile, its close management feature lets companies improve the close by automating manual tasks like journal entries.

Unlike other small business accounting software, NetSuite’s platform has a fixed assets management tool that lets companies manage the lifecycle of depreciating and non-depreciating assets. This feature helps them to eliminate the need for manual spreadsheets.

NetSuite’s package helps companies to automate manual accounting processes, access real-time data, and ensure compliance.

In our review of NetSuite’s cloud accounting software, we found it to have more features than other companies. Some of these features are its fixed asset management and Suite Accountants. SuiteAccountants provides advanced financial management and business process automation.

While NetSuite’s package can be used by startups and SMBs, it is ideal for large companies with thousands of employees and those with operations in more countries. It is also best for those using other Oracle applications like project management, HR, ERP, and customer experience because it integrates well with the ecosystem.

NetSuite’s pricing is not made available on the website. However, our research found that its implementation can cost anywhere from $10,000 to $100,000, making it more for large companies. It justifies this pricing by combining core finance features with compliance management and automation.

Pros pros

  • Has highly advanced accounting features
  • Can be customised to meet a company’s needs
  • Advanced tax management features
  • Fixed asset management features
  • Ideal for large international companies

Cons cons

  • No free trial
  • Pricing details are not transparent
  • Dated user interface
  • More expensive than other platforms

7. Wave – Best Budget-Friendly Accounting Software Australia For Startups

A screenshot of Wave's dashboard

Starting Price Free Plan Top Features Payroll Reporting
Free • Invoicing
• Mobile receipts
• In-house accounting coaches

Wave is an accounting software platform that is significantly different from NetSuite Cloud Accounting and Zoho Books in that it comes with only the essential tools needed in small business accounting software.

Its product allows companies to create invoices within seconds, making it a streamlined accounting software solution for those with a larger staff. In addition to fixed invoices, the platform also has recurring billing solutions for repeat customers.

It also has a payment tool that helps companies receive payments by bank deposit, credit card, Apple Pay, and other services. As a result, it can act as a good replacement for other payment processing companies like PayPal, Stripe, and Adyen.

The other solutions it offers are accounting, mobile receipts, and payroll. The latter service helps employers pay their workers accurately and on time. Most importantly, what sets it apart is its access to advisors, where clients can consult experts on certain topics like bookkeeping, accounts and payrolls, and taxes.

Wave’s packages start with a free option, making it ideal for people who are starting their businesses. Some of the features in this tier are unlimited estimates and invoices, online payments, and cash flow management.

Its only premium package goes for just $16 AUD per month or $170 annually. Features in this package are the ability to auto-import bank transactions, accept online payments at a discounted rate, and capture unlimited receipts.

On top of all this, Wave has other useful free products like an invoice generator, estimate maker, and receipt generator. These tools are available to non-members and offer them a good way to get introduced to the online accounting software ecosystem.

Wave is ideal for small e-commerce entrepreneurs who don’t have an accounting team or department. Anyone new to business can use its advisors to handle or answer important questions. It is also ideal for freelancers who want to do basic accounting.

Wave’s platform can be integrated with some third-party applications like Zapier, Shopify, MailChimp, and Google Sheets. However, unlike other accounting software platforms like FreshBooks and QuickBooks, it integrates with fewer applications.

Pros pros

  • Free tools like invoice generator and estimate maker
  • Easy-to-use platform with free version
  • Advanced payroll solution
  • Free and customisable templates

Cons cons

  • Not ideal for big companies
  • Not a lot of integration options

8. Sage Accounting – Best Accounting Software For Growing Australian Small Businesses

A screenshot of Sage Accounting's dashboard

Starting Price Free Plan Top Features Payroll Reporting
$21 AUD/month • Intelligent general ledger
• Multi-entity insights
• Intelligent dashboards

Sage is a large SaaS company headquartered in Newcastle, U.K. It is a publicly traded company and a blue-chip FTSE 100 index member. It offers numerous services in accounting, human resources, ERP, and CRM, and is used by more than 2 million customers globally. Its accounting service, known as Intacct, is used by over 22,000 companies.

Sage’s accounting software solution helps companies handle all their accounting needs on a single platform. It has numerous features, including an advanced dashboard that summarises the state of a company’s finances. For example, the CFO can easily see the amount of cash on hand, investments, revenue, cost of sales, and profits. These dashboards are more appealing than spreadsheets. It also has an intelligent general ledger, which uses advanced Artificial Intelligence (AI) tools to automate the accounting process and improve accuracy.

Its other features are accounts payable, accounts receivable, and integration with other third-party applications like Shopify, PayPal, and BigCommerce. It also supports multiple currencies like the US dollar, euro, and sterling.

Further, Sage has used its over four decades in the industry to create a platform that helps companies slash their monthly close by over 60 per cent through their automation features. For example, users can easily automate the payroll process.

Additionally, companies choose Sage’s accounting package to complement it with other Sage solutions. Some of these services are in areas like Customer Relationship Management (CRM), business intelligence, human resources, supply chain management, and payroll.

Sage is mostly ideal as small business accounting software for those who want the most features they need to run their operations in one place. Unlike Wave, it is not ideal for freelancers because of its cost. Also, most of its features like banking, payroll, and inventory are only ideal for companies.

Pros pros

  • Complements other Sage product offerings
  • Extensive customisation options
  • Supports multiple currencies
  • Powerful reporting and analytics

Cons cons

  • Pricing is not transparent
  • Bit of a learning curve to implement
  • Not ideal for freelancers

Conclusion – What Is The Best Accounting Software In Australia For 2024?

Good cloud-based software can help freelancers, small and medium-sized businesses (SMBs), and large entities simplify their operations. They help them to cut costs, automate repeatable tasks, reduce data entry mistakes, and do away with complicated spreadsheets. Most of these platforms also have a great dashboard that provides a snapshot of your business in seconds.

This article has looked at the top accounting packages for small businesses and identified some of the top providers. QuickBooks Online, the biggest SMB accounting platform in the world, is an ideal bookkeeping software for companies of all sizes and across all industries.

While it is not the cheapest, its platform has a complete suite of products that SMBs want. It is also easy to set up and has hundreds of third-party integrations. It also has other functionalities like tax tools, supporting multiple currencies and handling payroll.

Quickbook’s pricing also grows with the company. If you are just starting out, you can use the most affordable package and upgrade it as your organisation grows.

The other best QuickBooks Online alternatives are FreshBooks and Zoho Books. FreshBooks is an easy-to-use platform that has all the tools that you need to handle your bookkeeping, Zoho Books shines in its free version, which has advanced features for companies making less than $50,000 AUD in annual revenue.

How We Test Australian Accounting Software

  • Pricing – To recommend the best small business bookkeeping software in Australia, we first look at the price, since most platforms provide similar solutions. We try to recommend affordable platforms or those that have a free trial or version.
  • Features – After looking at the price, we look at the features offered by the accounting provider. If you are a beginner, it doesn’t make sense for you to go for a complex platform like NetSuite Accounting. Instead, you can start with a simpler platform like Wave.
  • Integrations – Companies are using numerous tools for communication and project management. As such, the best platform is one that allows more integrations since it helps to ensure continuity in the ecosystem.
  • Automation – The best accounting software in Australia has advanced automation tools. Automation helps to eliminate repetitive tasks like invoices and quotations. It can save a company substantial sums of money over time. As such, we look at tools that have the best automation features.
  • Ease of use – We also test how the accounting software is used since this can have cost implications. We recommend platforms that would be accessible to any accounting team since this can save on training costs.
  • Third-party reviews – Finally, we look at reviews from other experienced professionals about the software. And most importantly, we look at third-party platforms where actual users have left their reviews.

How To Choose The Best Australian Accounting Software

  • Budget – Always consider the size of your organisation and your available resources. The good thing is that there is a package available for all types of entities. If you are just starting out, go for a free platform and then update it as you grow. On the other hand, if you are a large entity, select a platform that has all the functionalities that you need.
  • Integrations – As a company, you might use various platforms like Shopify, Slack, Trello, Salesforce, and Zendesk. Selecting an accounting platform that has these integrations will help you to streamline your workflow and remove siloes. Having data in one place will simplify how various departments work.
  • Compatibility – You want an accounting platform that is available across popular desktop and mobile applications. In this, it should be available in operating systems like Windows, iOS, Android, and MacOS.
  • Ease of Use – The best accounting software should be easy to use by your accounting team. For one, some highly-complicated platforms require a few weeks or months of training, which is costly and not ideal.
  • Scalability – Bookkeeping software is mostly a long-term investment, and the cost to switch to other service providers can be substantial. So, it’s important that you pick a platform that can scale with your organisation over time. In this case, applications like Zoho Books, Freshbooks, and QuickBooks Online are more ideal than Waze.
  • User limitations – One way that accounting and other SaaS platforms push companies to upgrade to a higher tier is to place limitations on the users you can add to your account. Select a platform that allows more users to access your preferred tier.

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Crispus Nyaga
Technology Expert
Crispus Nyaga
Technology Expert

Crispus Nyaga has spent over 11 years as a freelance content writer specializing in technology, cybersecurity, equities, cryptocurrencies, and forex. He graduated with a degree in finance in 2013 and an MBA in 2017 and has contributed in some popular online publications like SeekingAlpha, Macrostreet, Capital.com, Invezz, and more. His writing has reached millions of readers over the years and he has also been a guest of many investing panels and events. Nyaga spends his free time reading, hiking, gaming, and watching sports.