Is MYOB the Same as QuickBooks? Which One Is Better in 2025?

TLDR;

No, MYOB and QuickBooks are not the same. QuickBooks generally offers a more modern, cloud-based experience with better integrations and ease of use, while MYOB is a powerful option for businesses in Australia and New Zealand needing robust payroll and inventory management.

What Are MYOB and QuickBooks? Comparison for 2025

If you’re asking What Is MYOB and QuickBooks and are they the same? — they’re not.
While both are accounting software platforms, they cater to different business needs and offer unique strengths.

Quick Breakdown:

MYOB: Desktop-first, strong in payroll, inventory, and tax compliance for AU/NZ businesses.
QuickBooks: Cloud-native, scalable, globally used with intuitive tools and broader integrations.

Who Uses Them:

MYOB: Ideal for SMEs in Australia and New Zealand with local compliance requirements.

QuickBooks: Best for small businesses and freelancers needing flexibility, automation, and global scalability.

Key Features Compared — MYOB vs QuickBooks

User Experience and Interface

QuickBooks: User-friendly, minimal learning curve.
MYOB: More traditional interface; powerful but can feel outdated.

Accounting & Bookkeeping Capabilities

Both platforms offer:

Double-entry accounting
General ledger and journal management
Auto-reconciliation

QuickBooks edges out with:

Smoother navigation
Built-in automation and suggestions

MYOB stands strong in:

Precision and controls for accountants
Complex accounting scenarios common in AU/NZ

Tax & Compliance (AU/NZ Focus)

MYOB:
- Native ATO integration
- BAS, GST, PAYG
- STP-compliant payroll
QuickBooks:
- Customizable tax rates (AU/NZ supported)
- Simple GST configuration
- Regular updates for local compliance

Invoicing and Payments

Both platforms allow:

Custom-branded invoices
Recurring billing
Payment tracking

QuickBooks advantages:

Better integration with Stripe, Square, PayPal
More polished mobile invoice functionality

MYOB advantages:

Local bank feeds
Strong follow-up tools for unpaid invoices

Payroll & HR Management

MYOB:
- Advanced payroll for AU/NZ
- Leave management, superannuation
- Award interpretation and STP compliance
QuickBooks:
- Payroll available in AU
- Add-on service, not as robust natively

Reporting & Business Insights

QuickBooks:
- Interactive dashboards
- Custom KPI and cash flow reports
MYOB:
- Stronger reporting around payroll and inventory
- Deeper audit and compliance reports

MYOB Pricing vs QuickBooks: Which Offers Better Value?

Note:

MYOB is often a better value for AU/NZ users needing payroll and compliance tools.
QuickBooks provides better value for automation, integration, and simplicity.

Can You Switch Between MYOB and QuickBooks?

Yes — and it’s easier than most think, provided you prepare.

Switching from MYOB to QuickBooks:

Export data (CSV or Excel format)
Clean and structure for QuickBooks
Import using QuickBooks setup assistant
Reconnect bank feeds and re-map accounts

Switching from QuickBooks to MYOB:

Similar process, but MYOB import tools may be less automated
Manual verification of balances and journals is essential

Note: Payroll, historical taxes, and custom reports may not fully transfer — backups are critical.

Which One Fits Your Business Type?

The choice depends heavily on your business size, location, and operations.

Small Business Owners (Retail, Service-Based)

QuickBooks:
- Better UX
- Seamless app integrations (e.g., Shopify, HubSpot)
- Great for managing cash flow and simplified bookkeeping
MYOB:
- More rigid structure, but ideal if you manage employees and inventory in AU/NZ

Freelancers & Independent Contractors

QuickBooks is a clear winner:
- Easy invoice setup
- Automated expense tracking
- Perfect for BAS/GST without needing payroll

Growing Teams & Medium Enterprises

MYOB:
- Built-in payroll tools
- Strong multi-user controls
- Local tax and HR compliance baked in
QuickBooks:
- Suitable for scaling with third-party apps
- Not ideal for large teams needing deep inventory or payroll detail

MYOB vs QuickBooks in AU/NZ and Other Regions

Support and regional fit matter, especially when you’re dealing with tax agencies and compliance requirements.

MYOB:

Designed for the AU/NZ market
Direct integration with ATO
Payroll compliant with local laws
Strong network of local accountants

QuickBooks:

Global focus with localized versions
AU support includes GST and bank feeds
Partner accountant program available

MYOB vs QuickBooks: Pros and Cons Summary Table

Which Accounting Software Is Better?

So, which one should you choose?

Choose MYOB if:
- You run a business in Australia or New Zealand
- Payroll and inventory are key priorities
- You need strong compliance features (BAS, STP, ATO, etc.)
Choose QuickBooks if:
- You want ease of use and automation
- You’re working in or beyond AU/NZ markets
- Integration with third-party apps and scalability matters

Careers Collectiv recommends QuickBooks for modern startups and freelancers, especially those focused on growth and digital operations.

But for businesses that require robust payroll, inventory management, and local compliance in AU/NZ — MYOB still delivers unmatched depth. If you’re exploring where to learn MYOB to make the most of its features, Careers Collectiv offers training resources to help you get started.

FAQs: MYOB vs QuickBooks Answered