Best Bookkeeping Software for Sole Traders in Australia (2025-26 Honest Comparison)
There are more options for bookkeeping software in Australia than ever, and the price range is vast — from free to $165/month. For a sole trader doing straightforward invoicing and BAS preparation, paying for features built for a 20-person accounts team doesn't make sense.
This comparison covers the main options honestly, including what each is actually good at and who it's wrong for. Pricing was fetched directly from vendor websites in May 2026. Where a site was inaccessible, the current pricing page URL is provided.
Quick answer: For pure solo-trader simplicity at the lowest cost, Summed ($9/mo) and MYOB Solo ($12/yr intro, $99/yr after) are the cheapest. Rounded ($23.95/mo) and Hnry (1% of income, capped at $1,500/yr) are strong for freelancers. Xero is the most capable but also the most expensive — worth it once you have staff or complex needs. Thriday has a free tier with optional paid BAS lodgment.
This is general information, not tax advice — see your registered tax agent for your specific situation.
What to Look for as a Sole Trader
Most sole traders need a short list of things from bookkeeping software:
- Invoice creation that produces ATO-compliant tax invoices
- GST tracking — automatic calculation of GST collected and paid
- BAS preparation — totals ready to plug into your ATO lodgment
- Expense tracking — categorise purchases, attach receipts
- Basic reporting — P&L, income summary
Features you probably don't need yet: payroll for multiple employees, multi-entity consolidation, inventory management, purchase orders, or advanced financial modelling.
Xero
Pricing: Xero's pricing page was temporarily unavailable at time of writing. See xero.com/au/pricing for current rates — Xero frequently runs introductory promotions.
Historically, Xero's entry-level plan for Australian users (Starter or Ignite) sits in the $35-45/month range. Their mid-tier (Standard or Grow) around $70/month, and Premium plans $85/month+. These prices change — check the current page.
What Xero is good at:
- Polished, well-designed interface
- Deep bank feed integration (most Australian banks supported)
- Extensive app marketplace (600+ integrations)
- Strong accountant community — most bookkeepers and accountants know Xero
- Multi-currency, payroll, inventory all available in higher tiers
- Mobile app is genuinely good
What Xero is not good at:
- Entry plan has restrictions on the number of invoices and transactions you can process monthly — frustrating for active traders
- Price increases over the years have made it harder to justify for very simple use cases
- Feature depth is overwhelming if you just want to send invoices and lodge BAS
Who should use Xero: Businesses that are growing, have or plan to hire staff, need payroll, work with an accountant who's on Xero's ecosystem, or need integrations with other tools. Also worth it if your accountant provides a Xero subscription as part of their service package.
Free trial: 30 days.
MYOB
Pricing (verified May 2026, from myob.com/au/pricing):
| Plan | Starting Price | Notes |
|---|---|---|
| Solo | $12/yr (first yr), $99/yr after | Mobile only, up to 2 bank accounts |
| Business Lite | $94.50/yr (first yr), $315/yr after | Web-based, 2 employee payroll |
| Business Pro | $21/mo (first 6mo), $70/mo after | Unlimited bank feeds, unlimited payroll |
| AccountRight Plus | $82.50/mo (first 3mo), $165/mo after | Desktop+web, full inventory |
What MYOB is good at:
- MYOB Solo is genuinely cheap for very simple mobile-first invoicing (though limited)
- Long track record in Australia — widely understood by accountants
- AccountRight Pro/Plus is a full accounting package rivalling Xero for established SMBs
- Payroll is well-developed for Australian compliance (STP, super, payroll tax reporting)
What MYOB is not good at:
- The Solo plan is mobile-only with limited functionality — you can't do much complex bookkeeping
- Business Lite and Pro pricing is competitive initially but the introductory periods end
- The interface has historically been clunkier than Xero, though it's improved
- Smaller integration ecosystem than Xero
Who should use MYOB: Businesses with employees where payroll is a primary need. AccountRight Pro is a solid choice if you want a desktop-capable full accounting solution and your accountant is already in the MYOB ecosystem.
Free trial: 14 days for Pro and AccountRight tiers.
Hnry
Pricing (verified May 2026, from hnry.com.au):
- 1% + GST of all self-employed income, minimum $0.50 per payment
- Annual cap: $1,500 + GST per year
- No monthly subscription
What Hnry is good at:
- Genuinely unique model: Hnry is not just software — they lodge your BAS, tax return and handle your tax obligations as part of the service fee
- Ideal for freelancers who want to outsource the entire tax compliance problem
- No upfront cost and no fixed monthly fee — scales with your income
- Includes an accountant-reviewed service, not just DIY software
What Hnry is not good at:
- The 1% fee adds up at higher income levels. At $80,000 income, you'd pay the $1,500 cap (plus GST = $1,650 total). At $30,000 income, you'd pay $300. Cheaper than a traditional accountant but more than pure software.
- Not suitable if you want to understand your books yourself — it's an outsourcing model
- Less control and visibility if you like to be hands-on with your finances
- Not designed for businesses with employees or complex needs
Who should use Hnry: Freelancers and contractors who want the whole tax problem gone. If you'd rather pay 1% than think about BAS and tax returns, Hnry is purpose-built for you. Particularly strong for people earning under $50,000/year where the fee is well under $500 and covers everything.
Free trial: The fee only kicks in when you earn — no earnings, no fee.
Rounded
Pricing (verified May 2026, from rounded.com.au/pricing):
| Plan | Monthly | Annual |
|---|---|---|
| Starter | $23.95/mo | $264.95/yr (1 month free) |
| Pro | $29.95/mo | $329.95/yr (1 month free) |
What Rounded is good at:
- Purpose-built for Australian freelancers and sole traders — not a US product adapted for Australia
- Strong invoicing with built-in time tracking and project management
- Real-time tax obligation estimates (helpful for putting money aside)
- The Pro plan's bank feed integration and pre-filled BAS are genuinely useful
- Clean, modern interface
- Multi-currency invoicing — handy for freelancers with overseas clients
- 14-day free trial, no credit card
What Rounded is not good at:
- Not designed for businesses with employees (payroll is absent)
- No inventory management
- Doesn't have Xero's ecosystem depth — fewer integrations
- The Pro plan's "AI expense categorisation" is a nice feature but shouldn't be a deciding factor
Who should use Rounded: Freelancers, consultants and creative professionals. If you're invoicing clients, tracking time on projects, and need clean GST reporting with a BAS-ready output, Rounded hits the mark. Particularly good for people who invoice in multiple currencies.
Free trial: 14 days, no credit card required.
Thriday
Pricing (verified May 2026, from thriday.com.au/pricing):
| Plan | Price | Notes |
|---|---|---|
| Free | $0 | Bank account required, basic features |
| Time-Saver | $29.95/mo or $299/yr | Automated bookkeeping, receipt scanning |
| Done-for-You Tax | $88/mo (annual) | Human accountant support, tax lodgment included |
| Done-for-You BAS + Tax | $119/mo (annual) | BAS and tax lodgment included |
What Thriday is good at:
- The free tier is genuinely free (tied to their business bank account product)
- Time-Saver plan includes automated expense reconciliation, which saves real time
- The Done-for-You tiers are an interesting middle ground between software and full accounting service
- BAS lodgment via the app ($57/BAS) or included in the higher tiers is convenient
What Thriday is not good at:
- The free tier requires using their bank account, which ties you into their ecosystem
- Done-for-You plans at $88-119/month are more expensive than hiring a bookkeeper hour-by-hour at modest complexity
- Newer product — smaller user community and less established integrations than Xero or MYOB
Who should use Thriday: Sole traders who want bank, cards and bookkeeping in one place and prefer automated reconciliation. The Done-for-You tiers suit people who want professional lodgment without a traditional accountant relationship.
Free trial: Free tier is permanent (bank account required).
Solo by MYOB (Standalone)
Solo (myob.com/au/pricing) is MYOB's mobile-first product at $12/year (introductory first year, $99/year after). It's notable for being cheap, but the limitations are real: mobile-only, up to two connected bank accounts, no desktop access.
For a sole trader who primarily wants to issue invoices on the go and do basic GST tracking from their phone, it's functional. For anyone wanting to do proper BAS prep, run reports, or work on a laptop, you'll quickly hit its ceiling.
Summed
Pricing: $9/mo (Solo plan) or $29/mo (Crew plan), both including GST, 30-day free trial, no credit card required.
Summed is the youngest product in this comparison and the most focused. It's built for sole traders and small hospitality businesses in Australia — not adapted from a global platform.
What Summed is good at:
- Cheapest monthly subscription of any product with proper GST and BAS prep
- Income and expense tracking with automatic GST calculation using the 1/11th method
- BAS-ready quarterly GST totals — GST collected and paid calculated from your transactions
- Simple and opinionated — fewer features means less to learn
- Australian-first, GST-native from the ground up
What Summed is not good at:
- No multi-entity or multi-location consolidation in the Solo plan (available in Crew)
- No payroll for multiple employees
- Newer product — smaller user community, fewer integrations
- If you need the full Xero feature set, Summed won't replace it
Who should use Summed: Sole traders and micro-businesses who want straightforward income/expense tracking with BAS prep built in, without paying $70/month for features they'll never use.
Comparison Table
| Tool | Starting Price | Best For | GST/BAS Support | Free Trial |
|---|---|---|---|---|
| Xero | See xero.com/au/pricing | Growing businesses, staff | Yes | 30 days |
| MYOB Solo | $12/yr (intro), $99/yr after | Mobile-first, very simple | Basic | 14 days |
| MYOB Business Pro | $21/mo (intro), $70/mo after | Businesses with staff | Yes | 14 days |
| Hnry | 1% of income (cap $1,500/yr) | Freelancers wanting full tax outsourcing | Yes (lodgment included) | No fee until you earn |
| Rounded | $23.95/mo | Freelancers, time-trackers | Yes (BAS pre-fill on Pro) | 14 days |
| Thriday | $0–$119/mo | Banking + bookkeeping combined | Yes | Free tier available |
| Summed | $9/mo | Sole traders, micro-business | Yes, automatic | 30 days |
Which One Should You Choose?
You want the cheapest with proper BAS prep: Summed at $9/mo.
You want full tax and BAS outsourced, no monthly fee: Hnry at 1% (cap $1,500/yr).
You're a freelancer who invoices in multiple currencies and tracks time: Rounded.
You want banking and bookkeeping together: Thriday.
You have employees and need proper payroll: MYOB Business Pro or Xero.
Your accountant already uses Xero: Xero — being on the same platform makes collaboration much easier.
You're just starting out and want to try something free: Thriday free tier or Hnry (no fee until you earn).
The honest truth: most sole traders are either overpaying for features they don't use, or under-spending on tools and spending hours manually reconciling bank statements each quarter. Match the tool to your actual complexity, not your aspirations.
Tools That Make This Easier
If you're a sole trader who wants BAS prep handled automatically without paying for a 10-seat accounting platform, Summed is built for exactly that.
Summed handles BAS prep automatically — try it free for 30 days at $9/mo. Start free →
Related Reading
- How to Lodge BAS as a Sole Trader in Australia (2025-26 Guide)
- Do I Need to Register for GST? The Australian Sole Trader Threshold Explained
- Sole Trader Tax Deductions Australia 2025-26: The Complete List
FAQ
Q: Do I actually need accounting software or can I just use a spreadsheet?
A: A spreadsheet works at low volume — say, under 20 transactions a month. Once you're processing dozens of invoices and expenses each quarter, the manual work outweighs the cost of a $9-$30/month subscription. The bigger risk with spreadsheets is human error in GST calculations.
Q: Is Xero worth it for a sole trader with no employees?
A: It depends on whether you use its features. If your accountant provides Xero access and supports you through it, the value is higher. If you're paying full price for the entry plan and only using 20% of it, cheaper alternatives do the same job.
Q: What's the difference between Hnry and a regular bookkeeper?
A: Hnry is a software product with some accountant support built in. A traditional bookkeeper is a person with whom you have an ongoing professional relationship. Hnry is cheaper, but it's less personalised. For straightforward sole trader situations, Hnry's model works well.
Q: Can I switch software mid-year without it affecting my BAS?
A: Yes, but it requires care. You'll need to ensure your opening balances and transaction history are correctly migrated or at minimum available for reference. Most software allows CSV export. Switch at the start of a BAS quarter to keep things clean.
Q: Will my accountant be able to access my Summed data?
A: Summed allows data export and accountant access features. Check the current capabilities at summed.com.au. Most accountants can work from exported data or your reports even if they don't have a direct integration.
Q: I'm on a really tight budget. What's genuinely the cheapest option that covers GST properly?
A: Summed at $9/month is the cheapest subscription with proper GST tracking and BAS prep. Hnry has no upfront cost but the 1% fee grows with income. MYOB Solo is $12/year in year one, but the limitations are real.
Q: Does the software lodge my BAS for me?
A: Most software prepares your BAS figures but lodgment is a separate step — either via myGov, the ATO Business Portal, or through a registered BAS agent. Some platforms (Hnry, Thriday's higher tiers) include lodgment as part of the service. Check each product's current capabilities.