Best-Rated Accounting Software

Compare Accounting Software in New Zealand at Canstar Blue. Xero and MYOB were compared on Overall Satisfaction, Customer Service, Ease of Integration, Ease of Use, Functionality, Reporting and Value for Money.

See our Ratings Methodology.

Most Satisfied Customers | Xero

For the fifth year in a row, Xero has been rated number one for customer satisfaction by its legions of very satisfied small business customers.

 

 

How we rate small business accounting software

Our review compares accounting software on customer satisfaction, so you can discover what other Kiwis think about our compared accounting software brands before you go ahead and decide to use one to help manage your business accounts. Think of it like asking hundreds of your friends and colleagues which accounting software they think is best!


Canstar Blue surveyed 256 Kiwis who had paid for an accounting software licence used for business purposes in the past 12 months and asked for their feedback on their provider.

  • The outcomes reported in these ratings are measured via accredited research panels managed by Qualtrics.

Respondents rate their satisfaction with their small business accounting software providers from zero to ten, where zero is extremely dissatisfied and ten is extremely satisfied. Brand satisfaction was rated by respondents on the following criteria:

  • Overall satisfaction: measures consumer satisfaction with an accounting software brand as an individual score NOT a combined total of all criteria.
  • Ease of integration: the accounting software is compatible with multiple programs and apps.
  • Customer service: the accounting software brand’s staff are readily available to contact, respond quickly and help with any questions or issues that arise.
  • Ease of use: the accounting software is easy to use, and has clear instructions or guides to help.
  • Functionality: the accounting software has various features (i.e. inventory, payroll, billing and invoicing, etc.) to help with preparing reports and tracking business dealings.
  • Reporting: the accounting software has a number of reporting options, and can generate a wide range of reports (i.e. quarterly review documents, payroll, etc.).
  • Value for money: the cost is reasonable for the quality and functionality of the accounting software.

The winning brand is the one that receives the highest Overall Satisfaction rating once all the scores from the Overall Satisfaction criteria are combined and averaged.

  • Overall Satisfaction is asked as a specific question and represents an individual measure, not a combined total of all criteria.
  • When we cannot determine a clear winner from the criteria for the Overall Satisfaction rating, we will then look at the other criteria measured in the rating.
    • The brand with the highest number of five-star ratings within the supporting criteria will become the five-star recipient in overall satisfaction, and thus win the award. If a clear leader still cannot be determined from the supporting criteria, joint winners will be declared.

Brands must have received at least 30 responses to be included, so not all brands available in the market have been compared in this survey. The brands rated in this survey are listed below in order of best overall satisfaction.

  • Xero
  • MYOB


Find more information on our Most Satisfied Customer methodology.

Best accounting software brands in New Zealand

  1. Xero
  2. MYOB

Xero

Ratings Results

Congratulations to Xero, the winner of Canstar Blue’s award for Most Satisfied Customers | Accounting Software for the fifth consecutive year.

It’s a great achievement for the home-grown tech company, which, yet again, scores a clean sweep of top 5-star ratings across all measures of customer satisfaction.

In fact, in the five years that Xero has topped our awards ratings, it has consistently only ever scored top 5-Star ratings – which is a true measure of the levels of satisfaction and value it delivers to its many thousands of small business customers.

Editor’s Notes

Xero: NZ’s Best Accounting Software

Xero is a home-grown success story. It was founded in 2006, in Wellington, by Rod Drury and Hamish Edwards and was floated on the NZX a year later.

Xero allows small business owners to:

Store all documents online in one place documents for quick access

Capture bills and receipts via email, or scan files from your mobile.

Automate their administration

Connect Xero to a bank for automatic bank feeds. Easily sync bank and financial information and work smarter with intuitive invoicing software. Automatically prepare GST returns, and securely file online to Inland Revenue.

Customise Xero to meet their needs

Choose from over 1000 apps in the Xero App Store to streamline tasks. Build on a Xero plan with flexible features.

Xero offers four  plans, and until September 30, 2023, is offering a 50% discount on the cost of each plan for five months (T&Cs apply). Xero also offers a 30-day free trial. NB: All pricings below ex GST.

Starter: for sole traders and the self-employed

Price: $31 per month

  • Send quotes and 20 invoices
  • Enter five bills
  • Reconcile bank transactions
  • Capture bills and receipts with Hubdoc
  • Short-term cash flow and business snapshot

Optional add-ons:

  • Payroll from $10 per month
  • Track projects from $10 per month
  • Analytics from $10 per month

Standard: for growing small businesses

Price: $66 per month

  • Send invoices and quotes
  • Enter bills
  • Reconcile bank transactions
  • Expenses for one person
  • Capture bills and receipts with Hubdoc
  • Bulk reconcile transactions
  • Short-term cash flow and business snapshot

Optional add-ons:

  • Claim additional expenses from $5 per user
  • Payroll from $10 per month
  • Track projects from $10 per month
  • Analytics from $10 per month

Premium: for established businesses

Price: $84 per month

  • Send invoices and quotes
  • Enter bills
  • Reconcile bank transactions
  • Expenses for one person
  • Capture bills and receipts with Hubdoc
  • Bulk reconcile transactions
  • Use multiple currencies
  • Short-term cash flow and business snapshot

Optional add-ons:

  • Claim additional expenses from $5 per user
  • Payroll from $10 per month
  • Track projects from $10 per month
  • Analytics from $10 per month

Ultimate: for larger employers and more complex small businesses

Price: $95 per month

  • Send invoices and quotes
  • Enter bills
  • Reconcile bank transactions
  • Expenses for five person
  • Capture bills and receipts with Hubdoc
  • Bulk reconcile transactions
  • Payroll: pay employees with online payroll software
  • Use multiple currencies
  • Short-term cash flow and business snapshot
  • Track projects
  • Analytics

Optional add-ons:

  • Claim expenses $5 per additional user
  • Payroll from $1 per additional employee
  • Track projects from $7 per additional user


MYOB

Ratings Results

A constant runner-up to Xero in our accounting software awards, MYOB always achieves a great set of performance ratings from its customers.

In our award’s five-year history, MYOB has never scored lower than an excellent 4-Star rating in any category. And this year is no different, as MYOB earns four stars across the board.

Editor’s Notes

MYOB is an Australian multinational company that provides tax and accounting software to small and medium businesses.

It offers 30-day free trials on each of its plans. NB: All pricings below ex GST.

All plans offer the same standard and optional payroll features:

Standard features

  • Track income and expenses
  • Create and send professional invoices and quotes
  • Scan and store receipts
  • Track GST
  • iOS and Android apps for invoicing

Optional Payroll

Cost: $1.50 a month for each employee (limit 2 on Lite plan).

  • Automated Payday filing
  • Automatically calculate PAYE and KiwiSaver
  • Payroll reporting

Lite plan

Price: $30 per month

  • Connect up to 2 bank accounts
  • Inventory: 10 items/1 location

Pro plan

Price: $50 per month

  • Connect unlimited bank accounts
  • Advanced reporting and analytics
  • Budgets
  • Inventory: 10 items/1 location

AccountRight Plus plan

Price: $80 per month

  • Connect unlimited bank accounts
  • Advanced reporting and analytics
  • Budgets
  • Advanced inventory reporting, unlimited items/1 location
  • Bill by time
  • Budgeting by job

AccountRight Premier plan

Price: $100 per month

  • Connect unlimited bank accounts
  • Advanced reporting and analytics
  • Budgets
  • Advanced inventory reporting, unlimited items and locations
  • Foreign currency reports
  • Bill by time
  • Budgeting by job
  • Manage multiple currencies

Choosing the Right Accounting Software for You

Given the current economic climate, it’s interesting to note the changes in our accounting software users’ feedback since last year’s award survey.

Back in mid-2022, users cited Ease of Integration (29%) and Ease of Use (27%) as the two top factors driving their satisfaction with their software providers. Value for Money was only the top concern for 21% of respondents.

However, this year, Value for Money is the top concern, which is a reflection of the headwinds many small business owners have faced over the past 12 months.

Here’s the full rundown of what the consumers in our survey say are the main things they consider when rating their choice of accounting software providers:

  • Value for Money: 24%
  • Ease of Use: 21%
  • Functionality: 21% 
  • Ease of Integration: 20%
  • Customer Service: 9%
  • Reporting: 4%

 

 


About the author of this page

This report was written by Canstar’s Editor, Bruce Pitchers. Bruce has three decades’ experience as a journalist and has worked for major media companies in the UK and Australasia, including ACP, Bauer Media Group, Fairfax, Pacific Magazines, News Corp and TVNZ. Prior to Canstar, he worked as a freelancer, including for The Australian Financial Review, the NZ Financial Markets Authority, and for real estate companies on both sides of the Tasman.

More Information

Canstar Blue surveyed 724 New Zealand consumers across a range of categories to measure and track customer satisfaction, via ISO 26362 accredited research panels managed by Qualtrics. The outcomes reported are the results from respondents who had used business accounting software in the past year. In this case, 256 New Zealanders. Brands must have received at least 30 responses to be included. Results are comparative and it should be noted that brands receiving three stars have still achieved a satisfaction measure of at least six out of 10. Not all brands available in the market have been compared in this survey. The ratings table is first sorted by star ratings and then by mean overall satisfaction. A rated brand may receive a ‘N/A’ (Not Applicable) rating if it does not receive the minimum number of responses for that criterion.

The past winners from Canstar Blue’s Accounting Software ratings:

  • 2022: Xero
  • 2021: Xero
  • 2020: Xero
  • 2019: Xero

 

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